SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             ----------------------
                                   FORM 10-KSB
                       Commission File Number: 333-133427


(Mark One)

[X]      Annual report under section 13 or 15(d) of the Securities  Exchange Act
         of 1934 for the fiscal year ended December 31, 2005

[ ]      Transition report under section 13 or 15(d) of the Securities  Exchange
         Act of 1934 for the transition period from ____ to ____.

                                PLASMATECH, INC.
               --------------------------------------------------
               (Exact Name of Issuer as Specified in Its Charter)

         Nevada                                                 56-2474226
-----------------------                                         ----------
(State of Incorporation)                                     (I.R.S. Employer
                                                            Identification No.)

                        2764 Lake Sahara drive, Suite 111
                            Las Vegas, Nevada, 89117
                               -------------------
               (Address of Principal Executive Offices) (Zip Code)

                                 (702) 851-1330
                                -----------------
              (Registrant's telephone number, including area code)

                      Nevada State Corporate Network, Inc.
                        2764 Lake Sahara Drive, Suite 111
                             Las Vegas, Nevada 89117
                                 (702) 838-8599
           (Name, Address, and Telephone Number of Agent for Service)

Check whether the issuer is not required to file reports  pursuant to Section 13
or 15(d) of the Exchange Act.

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days. Yes [X] No [ ]

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure  will be contained,  to
the best of the  registrant's  knowledge,  in  definitive  proxy or  information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB. [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange). YES [ ]   NO [X]

Issuer's revenues for fiscal year 2006 -- $0

The aggregate  market value of the voting and  non-voting  common equity held by
non-affiliates  computed by reference  to the most recent sale of the  Company's
common shares via a private  placement  offering of the common equity was $7,000
on September 15, 2005, $14,000 on September 23, 2005.

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common  shares at the latest  practicable  date.  As of  December  31,  2005 the
registrant had 9,800,000 shares of common shares,  $0.001 par value,  issued and
outstanding.

<PAGE>

TABLE OF CONTENTS

Statement Regarding Forward-Looking Information

PART I
                                                                           Page
                                                                           ----
Item 1.   Description of Business..........................................   3
Item 2.   Description of Property..........................................   3
Item 3.   Legal Proceedings................................................   3
Item 4.   Submission of Matters to a Vote of Security Holders..............   4

PART II
Item 5.   Market for the Registrant's Common Equity and Related
            Shareholder Matters............................................   4
Item 6.   Management's Discussion and Analysis of Financial Condition
            and Results of Operations......................................   4
Item 7.   Financial Statements.............................................   7
Item 8.   Changes in and Disagreements on Accounting and Financial
            Disclosures....................................................  16
Item 8A.  Controls and Procedures..........................................  16

PART III
Item 9.   Directors and Executive Officers of the Registrant...............  17
Item 10.  Executive Compensation...........................................  19
Item 11.  Security Ownership of Certain Beneficial Owners
            and Management.................................................  19
Item 12.  Certain Relationships and Related Transactions...................  19
Item 13.  Exhibits and Reports on Form 8K..................................  20
Item 14.  Principal Accounting Fees and Services ..........................  20

THIS  REPORT  CONTAINS   FORWARD-LOOKING   STATEMENTS  THAT  INVOLVE  RISKS  AND
UNCERTAINTIES  SUCH AS THE DEPENDENCE OF THE COMPANY ON AND THE ADEQUACY OF CASH
FLOWS. THESE  FORWARD-LOOKING  STATEMENTS AND OTHER STATEMENTS MADE ELSEWHERE IN
THIS REPORT ARE MADE IN RELIANCE ON THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995.

                                      -2-
<PAGE>

PART I

Item 1.   Description of the Business.
          ----------------------------

PlasmaTech, Inc. ("PlasmaTech" or the "Company") is a development stage company,
organized on July 14, 2004, in the State of Nevada, to enter into the design and
sale of illuminated  signboard products using a novel plasma lighting technology
produced in China by a patented manufacturing process.

This technology allows the reproduction of brightly  illuminated,  photo-quality
images on plastic,  allowing  plasma light to compete in many markets  currently
dominated by incandescent, fluorescent and neon lighting. The company intends to
secure the exclusive North American and South American marketing rights for this
plasma lighting technology from the agent representing the Chinese patent holder
of this manufacturing process.

The Company's plasma products will compete with traditional  signboard  lighting
products.  PlasmaTech products provide bright light applications while consuming
only a fraction  of the energy  required  by  conventional  light  sources.  The
patented  process used to manufacture the Company's  plasma products  produces a
plastic  sheet  based  material  that is thinner  than a credit  card but,  when
powered, illuminates two and a half times brighter than neon lights. The Company
will  initially  focus  on the  signage  applications  of  this  technology  for
industrial  trade show exhibits and displays,  such as  illuminated  banners and
wall displays.  Future applications may include general promotional products and
safety products.

Item 2.   Description of the Property.
          ----------------------------

The Company rents shared office space at Suite 111, 2764 Lake Sahara Drive,  Las
Vegas, Nevada,  89117. This property arrangement  satisfies the current needs of
PlasmaTech,  Inc.  and will be adequate up to the point that  PlasmaTech  begins
operations.  At that  point,  the  Company  may be  required  to  rent or  lease
commercial  property  that is capable of providing  adequate  storage and office
space.  Management anticipates rent on a per month basis for adequate commercial
space  will  cost  approximately  $1,500.  This  estimate  is based  upon  local
commercial  spaces  with  approximately  2,000  -3,000  square  feet of  storage
capability  and 500 to 1,000 square feet of office  space.  However,  management
plans to continue to utilize the current  premises until that space is no longer
adequate.  At this time commercial  property has not been secured by the Company
and there can be no assurance  that an adequate  space will be available when it
is needed; or if adequate space can be found at the price currently estimated by
management.

Item 3.   Legal Proceedings.
          ------------------

The  Company  is not a  party  to any  pending  legal  proceedings,  and no such
proceedings are known to be contemplated.

No  director,  officer,  or  affiliate  of the Company and no owner of record or
beneficial  owner  of more  than 5% of the  securities  of the  Company,  or any
associate of any such director, officer or security holder is a party adverse to
the Company or has a material  interest  adverse to the Company in  reference to
pending litigation.

                                      -3-
<PAGE>

Item 4.   Submission of Matters to a Vote of Security Holders.
          ----------------------------------------------------

There have been no matters submitted to the security holders for a vote.

PART II

Item 5.   Market  for the Registrant's  Common  Equity and  Related  Shareholder
          Matters.
          ----------------------------------------------------------------------

Currently the Company's common shares are not listed on any exchange nor are its
common shares quoted on any public medium.

As of December 31, 2005, PlasmaTech had eight (8) active shareholders of record.
The Company has not paid cash dividends and has no outstanding options.

Item 6. Management Discussion, Financial Condition and Results of Operation.

Overview
--------

PlasmaTech,   Inc.  ("PlasmaTech",   the  "Company",   "we",  "us",  "our")  was
incorporated in the State of Nevada as a for-profit Company on July 14, 2004 and
has  established  a fiscal year end of December 31. The Company is a development
stage  enterprise  established  to market custom  designed,  plasma  illuminated
signboard  products  lighting   technology  produced  in  China  by  a  patented
manufacturing process.

This technology allows the reproduction of brightly  illuminated,  photo-quality
images on plastic,  allowing  plasma light to compete in many markets  currently
dominated by incandescent, fluorescent and neon lighting. The Company intends to
secure the exclusive North American and South American marketing rights for this
plasma lighting technology from the agent representing the Chinese patent holder
of this manufacturing process.

The Company's plasma products will compete with traditional  signboard  lighting
products.  PlasmaTech products provide bright light applications while consuming
only a fraction  of the energy  required  by  conventional  light  sources.  The
patented  process used to manufacture the Company's  plasma products  produces a
plastic  sheet-based  material  that is  thinner  than a credit  card but,  when
powered, illuminates two and a half times brighter than neon lights. The Company
will initially  focus on the signage  applications  of this  technology to trade
show design  companies that use  illuminated  signboards for trade show exhibits
and displays,  such as illuminated  banners and wall signs.  Future applications
may include general promotional and safety products.

Operations
----------

During the year ended December 31, 2005, the Company primarily focused on market
research and customer identification. The Company worked on preparing its filing
to become a reporting issuer with the Securities and Exchange Commission.

In August 2005, the Company ordered samples of its PlasmaTech signs from China.

In October 2005, the Company  contacted  several companies dealing with delivery
times, warranties and manufacturing specifications on custom orders.

In December  2005,  the Company  finished its retail price list and  distributed
copies to potential clients.

As of December 31, 2005, the Company had not received an order for its product.

                                      -4-
<PAGE>

Results of Operations
---------------------

For the period since  inception  to December 31, 2005,  the Company has financed
its  operations  through a cash advance from its president and proceeds from the
sale of its common  stock.  During  the year  ended  December  31,  2005,  share
subscriptions  receipts  totaled $21,000 compared to $nil for the same period in
2004. The Company  received cash advances from its president in 2005 of $955 and
$1,949 in 2004 for a cumulative  total since  inception of $2,904.  There are no
set repayment terms for the advances nor do they bear any interest.

As of December 31, 2005,  PlasmaTech  had $14,197 cash on hand.  On December 31,
2004,  the Company had no cash on hand. The increase in cash came primarily from
the proceeds of the sale of the Company's common stock. Management believes that
additional cash will be required to satisfy the Company's operating expenses for
the next 12 months.

As a result of our  operations,  expenses  for the year ended  December 31, 2005
were $7,950. Of this amount, $1,715 related to office and general administration
and $6,235 was for  professional  fees which primarily  consisted of bookkeeping
and accounting  services.  For the period ended December 31, 2004, expenses were
$1,949, of which $800 was for office and general  administration  and $1,149 was
for professional  fees. These expenses were paid by the president of the Company
as a shareholder  advance.  The increase in expenses in 2005 as compared to 2004
is as a  result  of  accounting  costs  incurred  to  meet  financial  reporting
requirements during its first full year of business.

On  December  31,  2005,  PlasmaTech,  Inc.  had  accounts  payable  and accrued
liabilities of $7,192. The Company also had a received an advance from a related
party of $955 in 2005  adding to an  advance  of $1,949  received  from the same
party in 2004 for a total of $2,904  received in advances  from  inception.  The
related  party is the  president  of the Company.  Accounts  payable and accrued
liabilities of $7,192  pertains  primarily to the cost of the preparation of the
financial  statements  for the year ended  December 31, 2005. As of December 31,
2004, there were no accounts payable and accrued liabilities.

The Company has not yet  commenced a revenue  generating  operation.  All of the
funds  PlasmaTech  has  received  have been the result of the sale of its common
shares or a loan from the president.  Total expenses for the year ended December
31,  2005 were  $7,950  resulting  in an  operating  loss of $7,950  compared to
expenses  of $1,949  for the  period of July 14,  2004  (date of  inception)  to
December 31, 2004 which  resulted in a loss of $1,949.  Basic net loss per share
amounted to $nil in for the year ended December 31, 2005.

Plan of Operation
-----------------

The Company anticipates that its current cash holdings will not be sufficient to
satisfy its liquidity  requirements over the next 12 months and the Company will
seek to obtain  additional  funds.  The Company will require  working capital to
support  its  marketing  campaigns,   such  as  attendance  at  trade  shows  to
demonstrate its product, and pay legal and accounting fees. On June 2, 2006, the
Company's  Form SB-2 filed with the Securities  and Exchange  Commission  became
effective.  The Company  anticipates raising additional capital through issuance
of its common stock or will seek alternative sources of financing.

If the Company is unable to obtain this additional financing, it may be required
to reduce the scope of its planned sales and marketing efforts, which could harm
the  Company's  financial  condition  and operating  results.  In addition,  the
Company  may  require  additional  funds  in order to  develop  new or  enhanced
services  or  products  or invest  in  complementary  businesses,  technologies,
services or products.  This additional funding may not be available on favorable
terms, if at all.
                                      -5-
<PAGE>

There  can be no  assurance  that  PlasmaTech  will  be  successful  in  raising
additional  equity  financing,  and,  thus,  be able to satisfy  the future cash
requirements,  which primarily  consist of working capital  directed towards the
development  of the  website  and  marketing  campaigns,  as well as  legal  and
accounting  fees.  PlasmaTech  depends  upon  capital to be derived  from future
financing  activities  such as  subsequent  offerings of our shares.  Management
believes that if subsequent private  placements are successful,  PlasmaTech will
be able to generate  revenue from sales of the  products  and achieve  liquidity
within the  following  twelve to fourteen  months  thereof.  However,  investors
should  be aware  that  this is  based  upon  speculation  and  there  can be no
assurance that the Company will ever be able reach a level of profitability.

PlasmaTech  does not anticipate any  significant  research of any products.  The
Company does not expect the purchase of any significant  equipment.  The Company
does  anticipate  hiring a commission  sales  person in the next twelve  months.
PlasmaTech has no current material  commitments nor has it generated any revenue
since its inception.

We have no current  plans,  preliminary  or  otherwise,  to merge with any other
entity.

As the Company  expands its business,  it will likely incur  losses.  Management
plans on funding these losses through revenues  generated  through its marketing
activities.  If PlasmaTech is unable to satisfy its capital requirements through
its revenue  production or if the Company is unable to raise additional  capital
through the sale of its common  shares,  it may have to borrow funds in order to
sustain  its  business.  There  can be no  assurance  or  guarantee  given  that
PlasmaTech  will be able to borrow  funds  because it is a new  business and the
future success of the Company is highly speculative.

Off-Balance Sheet Arrangement
-----------------------------

As of the date of this Annual Report, the current funds available to the Company
will not be sufficient to continue  maintaining a reporting status.  The cost to
maintain the reporting status of the Company for the next twelve months has been
estimated at $12,000 plus  approximately  $7,200 in accounts payable and accrued
liabilities  totaling  $19,200.  The  officer  and  director,  Mr.  Brough,  has
indicated to the Company that he may be willing to provide the funds required to
maintain the  reporting  status in the form of a  non-secured  loan for the next
twelve months as the expenses are incurred, if no other proceeds are obtained by
the  Company.  However,  there is no  contract  in place  or  written  agreement
securing this agreement.  Management believes if the Company cannot maintain its
reporting status with the SEC it will have to cease all efforts directed towards
the  Company.  As such,  any  investment  previously  made  would be lost in its
entirety.

Other  than  the  above  described  situation,  the  Company  does  not have any
off-balance  sheet  arrangements  that have or are  reasonably  likely to have a
current  or future  effect on the  Company's  financial  condition,  changes  in
financial  condition,  revenues or expenses,  results of operations,  liquidity,
capital  expenditures or capital  resources that are material to investors.  The
term "off-balance sheet arrangement" generally means any transaction,  agreement
or other  contractual  arrangement  to which an entity  unconsolidated  with the
Company is a party, under which the Company has (i) any obligation arising under
a guarantee  contract,  derivative  instrument or variable  interest;  or (ii) a
retained or contingent  interest in assets transferred to such entity or similar
arrangement  that serves as credit,  liquidity  or market risk  support for such
assets.

                                      -6-
<PAGE>


Item 7.   Financial Statements.
          ---------------------


                                PLASMATECH, INC.
                          (A Development Stage Company)

                              FINANCIAL STATEMENTS

                                DECEMBER 31, 2005


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

BALANCE SHEETS

STATEMENTS OF OPERATIONS

STATEMENT OF SHARESHOLDERS' EQUITY

STATEMENTS OF CASH FLOWS

NOTES TO FINANCIAL STATEMENTS



                                      -7-
<PAGE>



             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
--------------------------------------------------------------------------------

To the Shareholders and Board of Directors of PlasmaTech, Inc.

We  have  audited  the  accompanying  balance  sheets  of  PlasmaTech,  Inc.  (a
development  stage company) as of December 31, 2005 and 2004, and the statements
of operations,  shareholders' equity (deficit) and cash flows for the year ended
December  31, 2005,  the period from  inception on July 14, 2004 to December 31,
2004,  and the period from  inception  on (July 14,  2004) to December 31, 2005.
These financial  statements are the responsibility of the Company's  management.
Our responsibility is to express an opinion on these financial  statements based
on our audits.

We conducted our audits in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and  perform  an audit to obtain  reasonable  assurance  whether  the  financial
statements  are free of material  misstatement.  The Company is not  required to
have,  nor were we engaged to perform,  an audit of its  internal  control  over
financial reporting.  Our audits included consideration of internal control over
financial  reporting  as  a  basis  for  designing  audit  procedures  that  are
appropriate  in the  circumstances,  but not for the  purpose of  expressing  an
opinion on the  effectiveness  of the Company's  internal control over financial
reporting.  Accordingly,  we express  no such  opinion.  An audit also  includes
examining,  on a test basis,  evidence supporting the amounts and disclosures in
the  financial  statements.  An audit also  includes  assessing  the  accounting
principles  used  and  significant  estimates  made  by  management,  as well as
evaluating the overall  financial  statement  presentation.  We believe that our
audits provide a reasonable basis for our opinion.

In our opinion,  these  financial  statements  present  fairly,  in all material
respects,  the  financial  position of the  Company as of December  31, 2005 and
2004, and the statements of operations,  shareholders' equity (deficit) and cash
flows for the year ended  December 31, 2005,  the period from  inception on July
14, 2004 to December 31, 2004,  and from  inception on July 14, 2004 to December
31, 2005, in conformity with  accounting  principles  generally  accepted in the
United States of America.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 1 to the
financial  statements,  the Company is in the development stage and has incurred
losses  since  inception  and has  limited  working  capital  available  raising
substantial  doubt about the Company's  ability to continue as a going  concern.
The  ability of the  Company to  continue  as a going  concern is  dependent  on
raising  capital to fund its business plan and  ultimately to attain  profitable
operations.  Management's plans in regard to these matters are also described in
Note 1. The  financial  statements  do not  include any  adjustments  that might
result from the outcome of this uncertainty.


/s/Dale Matheson Carr-Hilton Labonte
------------------------------------
CHARTERED ACCOUNTANTS


Vancouver, Canada
March 7, 2006

                                      -8-
<PAGE>

<TABLE>
<CAPTION>
                                PLASMATECH, INC.
                          (A Development Stage Company)

                                 BALANCE SHEETS


                                                              December 31,   December 31,
                                                                 2005           2004
                                                              -----------    -----------
<S>                                                           <C>            <C>
ASSETS

CURRENT ASSETS
      Cash                                                    $    14,197    $      --
                                                              ===========    ===========


         LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
      Accounts payable and accrued liabilities                $     7,192    $      --
   Advance from related party (Note 5)                              2,904          1,949
                                                              -----------    -----------

                                                                   10,096          1,949
                                                              -----------    -----------

SHAREHOLDERS' EQUITY (DEFICIT )
   Capital stock (Note 4)
     Authorized
      75,000,000 shares of common shares, $0.001 par value,
     Issued and outstanding
      9,800,000 shares of common shares (2004 - nil shares)         9,800           --
   Additional paid-in capital                                      11,200           --
    Share subscription receivable                                  (7,000)
                                                                             -----------
   Deficit accumulated during the development stage                (9,899)        (1,949)
                                                              -----------    -----------

                                                                    4,101         (1,949)
                                                              -----------    -----------

                                                              $    14,197    $      --
                                                              ===========    ===========
</TABLE>

                   The accompanying notes are an integral part
                         of these financial statements.


                                      -9-
<PAGE>

<TABLE>
<CAPTION>
                                PLASMATECH, INC.
                          (A Development Stage Company)

                            STATEMENTS OF OPERATIONS



                                                                                        Cumulative
                                                                                        results of
                                                                                     operations from
                                                                      July 14, 2004   July 14, 2004
                                                                         (date of       (date of
                                                          Year ended   inception) to  inception) to
                                                         December 31,   December 31,   December 31,
                                                            2005           2004            2005
                                                         -----------    -----------    -----------

<S>                                                      <C>            <C>            <C>
  EXPENSES

   Office and general                                    $     1,715    $       800    $     2,515
   Professional fees                                           6,235          1,149          7,384
                                                         -----------    -----------    -----------

NET LOSS                                                 $    (7,950)   $    (1,949)   $    (9,899)
                                                         ===========    ===========    ===========




BASIC AND DILUTED NET LOSS PER SHARE                     $      --       $      --
                                                         ===========    ===========

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING -
  BASIC AND DILUTED                                        2,811,507           --
                                                         ===========    ===========

</TABLE>

                   The accompanying notes are an integral part
                         of these financial statements.

                                      -10-
<PAGE>

<TABLE>
<CAPTION>

                                PLASMATECH, INC.
                          (A Development Stage Company)

                   STATEMENT OF SHAREHOLDERS' EQUITY (DEFICIT)

               FROM INCEPTION (JULY 14, 2004) TO DECEMBER 31, 2005




                                                                                            Deficit
                                                                                          Accumulated
                                      Common Shares            Additional     Share        During the
                                --------------------------      Paid-in    Subscription    Development
                                   Shares         Amount        Capital     Receivable        Stage          Total
                                -----------    -----------    -----------   -----------    -----------    -----------

<S>                             <C>            <C>            <C>           <C>            <C>            <C>
Balance, July 14, 2004                 --      $      --      $      --     $      --      $      --      $      --

Net loss                             (1,949)        (1,949)
                                -----------    -----------    -----------   -----------    -----------    -----------

Balance, December 31, 2004             --             --             --            --           (1,949)        (1,949)
                                -----------    -----------    -----------   -----------    -----------    -----------

Common shares issued for cash
  at $0.001 per share
      September 15, 2005          7,000,000          7,000           --            --             --            7,000
Common shares issued forcash
  at $0.005 per share
      September 23, 2005          2,800,000          2,800         11,200          --             --           14,000

Share subscription receivable          --             --             --          (7,000)          --           (7,000)

Net loss                               --             --             --            --           (7,950)        (7,950)
                                -----------    -----------    -----------   -----------    -----------    -----------

Balance, December 31, 2005        9,800,000    $     9,800    $    11,200   $    (7,000)   $    (9,899)   $     4,101
                                ===========    ===========    ===========   ===========    ===========    ===========
</TABLE>


                   The accompanying notes are an integral part
                         of these financial statements.


                                      -11-
<PAGE>

<TABLE>
<CAPTION>

                                PLASMATECH, INC.
                          (A Development Stage Company)

                            STATEMENTS OF CASH FLOWS
                                                                                                    Cumulative
                                                                                                    results of
                                                                                                    operations
                                                                                                      from
                                                                                       Inception    inception
                                                                                       (July 14,    (July 14,
                                                                        Year ended       2004 to     2004 to
                                                                        December 31,  December 31, December 31,
                                                                           2005          2004          2005
                                                                        -----------    ---------   -----------
<S>                                                                     <C>            <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss                                                              $    (7,950)   $  (1,949)  $    (9,899)
  Changes in operating liabilities
    Accounts payable and accrued liabilities                                  7,192         --           7,192
     Advances from a related party                                              955        1,949         2,904
                                                                        -----------    ---------   -----------

NET CASH USED IN OPERATING ACTIVITIES                                           197         --             197
                                                                        -----------    ---------   -----------


CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from sale of common shares                                        14,000         --          14,000
                                                                        -----------    ---------   -----------

NET CASH PROVIDED BY FINANCING ACTIVITIES                                    14,000         --          14,000
                                                                        -----------    ---------   -----------

NET INCREASE IN CASH                                                         14,197         --          14,197

CASH, BEGINNING OF PERIOD                                                      --           --            --
                                                                        -----------    ---------   -----------

CASH, END OF PERIOD                                                     $    14,197    $    --     $    14,197
                                                                        ===========    =========   ===========



Supplemental cash flow information and non-cash financing activities:
  Cash paid for:

  Interest                                                              $      --      $    --     $      --
                                                                        ===========    =========   ===========

  Income taxes                                                          $      --      $    --     $      --
                                                                        ===========    =========   ===========

Share subscription receivable                                           $     7,000    $    --     $     7,000
                                                                        ===========    =========   ===========
</TABLE>

                   The accompanying notes are an integral part
                         of these financial statements.

                                      -12-
<PAGE>

                                PLASMATECH, INC.
                          (A Development Stage Company)

                        NOTES TO THE FINANCIAL STATEMENTS

                                DECEMBER 31, 2005
 -------------------------------------------------------------------------------


NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION

PlasmaTech,  Inc. (the  "Company") is in the initial  development  stage and has
incurred losses since inception totaling $9,899. The Company was incorporated on
July 14, 2004 in the State of Nevada.  The Company was  organized  to enter into
the design and sale of illuminated  signboard  products.  The Company intends to
enter into the  production of photo quality images on plastic that light up in a
pre-programmed  animated series,  requiring minimal amounts of electricity.  The
Company's initial market focus of this technology will be for trade show exhibit
and installation  designers within North and South America. To date, the Company
has had no business operations.

The  ability of the  Company to  continue  as a going  concern is  dependent  on
raising  capital to fund its business plan and  ultimately to attain  profitable
operations.  Accordingly,  these  factors  raise  substantial  doubt  as to  the
Company's  ability to  continue as a going  concern.  The Company is funding its
initial  operations  by way of  issuing  founders'  shares and  entering  into a
private  placement  offering for up to  10,000,000  common  shares at $0.005 per
share.  As of December 31, 2005, the Company had sold  9,800,000  common shares.
7,000,000  founders'  shares  were  issued at $0.001 per share for which a share
subscription  receivable of $7,000 was recorded and 2,800,000 shares were issued
at $0.005 per share for net proceeds of $14,000 pursuant to a private  placement
offering (refer to Note 4).

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
--------------------------------------------------------------------------------


Basis of Presentation
---------------------
These financial  statements are presented in United States dollars and have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States.

Use of Estimates and Assumptions
--------------------------------
Preparation of the financial statements in conformity with accounting principles
generally  accepted in the United States  requires  management to make estimates
and  assumptions   that  affect  certain   reported   amounts  and  disclosures.
Accordingly, actual results could differ from those estimates.

Income Taxes
------------
The Company  follows the  liability  method of  accounting  for income  taxes in
accordance with Statements of Financial  Accounting  Standards  ("SFAS") No.109,
"Accounting  for Income  Taxes."  Under  this  method,  deferred  tax assets and
liabilities  are  recognized  for the future tax  consequences  attributable  to
differences  between the financial statement carrying amounts of existing assets
and  liabilities  and their  respective  tax  balances.  Deferred tax assets and
liabilities  are  measured  using  enacted or  substantially  enacted  tax rates
expected to apply to the taxable income in the years in which those  differences
are expected to be  recovered or settled.  The effect on deferred tax assets and
liabilities  of a change in tax rates is recognized in income in the period that
includes the date of enactment or substantive enactment.

                                      -13-
<PAGE>

Net Loss per Share
------------------
The Company  computes loss per share in accordance with SFAS No. 128,  "Earnings
per Share",  which requires  presentation of both basic and diluted earnings per
share  on the face of the  statement  of  operations.  Basic  loss per  share is
computed by dividing net loss available to common  shareholders  by the weighted
average number of outstanding common shares during the period.  Diluted loss per
share gives effect to all dilutive  potential common shares  outstanding  during
the period.  Dilutive  loss per share  excludes all  potential  common shares if
their effect is anti-dilutive.

Foreign Currency Translation
----------------------------
The financial  statements are presented in United States dollars.  In accordance
with SFAS No. 52, "Foreign Currency  Translation",  foreign denominated monetary
assets and liabilities are translated to their United States dollar  equivalents
using  foreign  exchange  rates  which  prevailed  at the  balance  sheet  date.
Non-monetary  assets and liabilities are translated at exchange rates prevailing
at the transaction date. Revenue and expenses are translated at average rates of
exchange during the period.  Related  translation  adjustments are reported as a
separate  component of shareholders'  equity (deficit),  whereas gains or losses
resulting  from  foreign  currency  transactions  are  included  in  results  of
operations.

Shares-based Compensation
-------------------------
The Company has not adopted a shares  option plan and has not granted any shares
options. Accordingly no shares-based compensation has been recorded to date.

Recent Accounting Pronouncements
--------------------------------
In December 2004, the Financial  Accounting Standards Board ("FASB") issued SFAS
No. 153,  "Exchanges  of  Non-monetary  Assets - An Amendment of APB Opinion No.
29".  The  guidance  in  APB  Opinion  No.  29,   "Accounting  for  Non-monetary
Transactions",  is based on the principle that exchanges of non-monetary  assets
should be measured based on the fair value of the assets exchanged. The guidance
in that opinion,  however,  included certain exceptions to that principle.  SFAS
No. 153 amends  Opinion  No. 29 to  eliminate  the  exception  for  non-monetary
exchanges of similar  productive assets and replaces it with a general exception
for exchanges of non-monetary  assets that do not have commercial  substance.  A
non-monetary  exchange has commercial  substance if the future cash flows of the
entity are expected to change  significantly  as a result of the  exchange.  The
provisions  of SFAS No.  153 are  effective  for  non-monetary  asset  exchanges
occurring in fiscal periods  beginning after June 15, 2005. Early application is
permitted and companies must apply the standard  prospectively.  The adoption of
this standard is not expected to have a material effect on the Company's results
of operations or financial position.

In December 2004, the Financial  Accounting Standards Board ("FASB") issued SFAS
No. 123R,  "Share-Based  Payment." SFAS No. 123R  establishes  standards for the
accounting for transactions in which an entity exchanges its equity  instruments
for goods or services. It also addresses  transactions in which an entity incurs
liabilities  in exchange for goods or services  that are based on the fair value
of the  entity's  equity  instruments  or that may be settled by the issuance of
those equity  instruments.  SFAS No. 123R focuses  primarily on  accounting  for
transactions in which an entity obtains employee services in share-based payment
transactions.  SFAS No. 123R  requires  that the  compensation  cost relating to
share-based  payment  transactions be recognized in financial  statements.  That
cost  will be  measured  based on the  fair  value of the  equity  or  liability
instruments issued.  Public entities that file as small business issuers will be
required to apply SFAS No. 123R in the first interim or annual  reporting period
that begins after  December 15, 2005.  Management  is currently  evaluating  the
impact of the  adoption of this  standard on future  results of  operations  and
financial position.
                                      -14-
<PAGE>

In March 2005, the SEC staff issued Staff  Accounting  Bulletin ("SAB") No. 107,
"Share-Based  Payment," to give guidance on the implementation of SFAS No. 123R.
Management will consider SAB No. 107 during the implementation of SFAS No. 123R.

In  May  2005,  the  FASB  issued  SFAS  154,   "Accounting  Changes  and  Error
Corrections." This Statement replaces APB Opinion No. 20, "Accounting  Changes,"
and SFAS No. 3, "Reporting Accounting Changes in Interim Financial  Statements,"
and changes the requirements for the accounting for and reporting of a change in
accounting  principle.  This  statement  applies  to all  voluntary  changes  in
accounting principle.  Management believes this statement will have no impact on
the financial statements of the Company.

In March 2005, the FASB issued FASB  Interpretation  ("FIN") No. 47, "Accounting
for  Conditional  Asset  Retirement  Obligations,   an  interpretation  of  FASB
Statement No. 143." Asset retirement  obligations  (AROs) are legal  obligations
associated  with the  retirement  of  long-lived  assets  that  result  from the
acquisition,  construction,  development and/or normal operation of a long-lived
asset,  except for certain  obligations  of lessees.  FIN No.47  clarifies  that
liabilities  associated  with  asset  retirement  obligations  whose  timing  or
settlement  method are  conditional  on future events should be recorded at fair
value as soon as fair value is  reasonably  estimable.  FIN No.47 also  provides
guidance on the  information  required to reasonably  estimate the fair value of
the liability. FIN No.47 is intended to result in more consistent recognition of
liabilities  relating to AROs among companies,  more information  about expected
future  cash  outflows  associated  with  those  obligations  stemming  from the
retirement of the asset(s) and more information  about investments in long-lived
assets  because   additional  asset  retirement  costs  will  be  recognized  by
increasing  the carrying  amounts of the assets  identified  to be retired.  FIN
No.47 is effective for fiscal years ending after  December 15, 2005.  Management
believes this statement  will have no impact on the financial  statements of the
Company.

NOTE 3 - FAIR VALUE OF FINANCIAL INSTRUMENTS
--------------------------------------------------------------------------------

The Company has  determined  the estimated  fair value of financial  instruments
using available market information and appropriate valuation methodologies.  The
fair value of financial instruments  classified as current assets or liabilities
approximate  their  carrying  value  due  to  the  short-term  maturity  of  the
instruments.


NOTE 4 - CAPITAL STOCK
--------------------------------------------------------------------------------

The Company's  capitalization  is  75,000,000  common shares with a par value of
$0.001 per share. No preferred shares have been authorized or issued.

As of December 31, 2005,  the Company has not granted any share  options and has
not recorded any shares-based compensation.

During the year ended December 31, 2005, a director  purchased  7,000,000 common
shares of the Company at $0.001 per share with proceeds to the Company  totaling
$7,000.  As at December 31, 2005,  the proceeds were  outstanding  and have been
reflected  as  subscription  receivable  included in  shareholders'  equity.  On
January 19, 2006, the funds were paid by the director to the Company.

                                      -15-
<PAGE>

Private Placement
-----------------
On August 10, 2005, the Company authorized a private placement offering of up to
10,000,000  shares of common  stock at a price of $0.005  per  share.  The total
amount to be raised in this  financing is $50,000.  As of December 31, 2005, the
Company had issued  2,800,000 common shares and had received $14,000 in proceeds
from the sale of its shares.

NOTE 5 - RELATED PARTY TRANSACTIONS
--------------------------------------------------------------------------------

As of December 31, 2005,  the Company  received  advances from a director of the
Company to pay for  operating  costs.  The amounts due to the related  party are
unsecured and non-interest bearing with no set terms of repayment.

NOTE 6 - INCOME TAXES
--------------------------------------------------------------------------------

As of December 31, 2005,  the Company had net operating  loss carry  forwards of
approximately  $10,000  that may be available to reduce  future  years'  taxable
income and will expire commencing in 2024. Availability of loss usage is subject
to change of ownership  limitations  under Internal Revenue Code 382. Future tax
benefits which may arise as a result of these losses have not been recognized in
these  financial  statements,  as their  realization is determined not likely to
occur and accordingly,  the Company has recorded a full valuation  allowance for
the deferred tax asset relating to these tax losses to carry forward.


Item 8.   Changes in and Disagreements on Accounting and Financial Disclosures.
          ---------------------------------------------------------------------

None.

Item 8A.   Controls and Procedures.
           ------------------------

Evaluation of Disclosure Controls and Procedures
------------------------------------------------

PlasmaTech,  Inc. Chief Executive  Officer and Chief Financial Officer conducted
an evaluation of the  effectiveness of the design and operation of the Company's
disclosure  controls  and  procedures,  as defined in Rules  13a-15(e)  and Rule
15d-15(e)  under the Exchange Act.  Based upon his evaluation as of December 31,
2005 he concluded that those disclosure controls and procedures are effective.

Changes in Internal Control over Financial Reporting
----------------------------------------------------

There have been no changes in PlasmaTech,  Inc.  internal control over financial
reporting  during the  quarter  ended  December  31,  2005 that have  materially
affected,  or are reasonably  likely to affect,  the Company's  internal control
over financial reporting.

                                      -16-
<PAGE>

Management's Report on Internal Control over Financial Reporting
----------------------------------------------------------------

The  management  of  PlasmaTech,   Inc  is  responsible  for   establishing  and
maintaining  adequate  internal  control over financial  reporting as defined in
Rule  13a-15(f)  under the Exchange  Act. Our  internal  control over  financial
reporting is a process designed to provide  reasonable  assurance  regarding the
reliability of financial  reporting and the preparation of financial  statements
for  external  purposes  in  accordance  with  accounting  principles  generally
accepted in the United States of America.  Because of its inherent  limitations,
internal   control  over   financial   reporting   may  not  prevent  or  detect
misstatements.  Also,  projections of any evaluation of  effectiveness to future
periods are subject to the risk that controls may become  inadequate  because of
changes in  conditions,  or that the degree of  compliance  with the policies or
procedures may deteriorate.

PlasmaTech, Inc. management assessed the effectiveness of the Company's internal
control  over  financial  reporting  as of  December  31,  2005.  In making  the
assessment,  it used the  criteria  set  forth by the  Committee  of  Sponsoring
Organizations of the Treadway Commission (COSO) in "Internal  Control-Integrated
Framework." Based on that assessment,  management concluded that, as of December
31, 2005, The Company's  internal control over financial  reporting is effective
based on those criteria.

The  Company's  assessment  of the  effectiveness  of its internal  control over
financial  reporting  as of  December  31,  2005 has been  not  audited  by Dale
Matheson Carr-Hilton LaBonte,  Chartered Accountants,  an independent registered
accounting firm, as stated in their report, which is included herein.

PART III

Item 9.   Directors, Executive Officers, Promoters, and Control Persons.
          --------------------------------------------------------------

The following table and subsequent  discussion contains  information  concerning
our  directors and executive  officers,  their ages,  term served and all of our
officers  and  their  positions,  who  will  serve  in the  same  capacity  with
PlasmaTech, Inc. upon completion of the offering.
<TABLE>
<CAPTION>

Name                       Age     Term Served           Title
----                       ---     -----------           -----
<S>                        <C>     <C>                   <C>
Christopher J. Brough      63      Since inception       President, Secretary Treasurer,
                                                         Principal Executive Officer
                                                         Principal Financial Officer
                                                         and sole member of the Board of Directors
</TABLE>

The above person may be deemed a "promoter" of PlasmaTech,  Inc. as that term is
defined  in the rules and  regulations  promulgated  under  the  Securities  and
Exchange Act of 1933.

There are no other persons  nominated or chosen to become directors or executive
officers,  nor do we have any employees other than above  mentioned  officer and
director.

Our directors hold office until the next annual meeting of shareholders  and the
election  and   qualification  of  their   successors.   Directors   receive  no
compensation  for serving on the board of directors other than  reimbursement of
reasonable  expenses incurred in attending  meetings.  Officers are appointed by
the board of directors and serve at the discretion of the board.

                                      -17-
<PAGE>

Officer and Director Background:
--------------------------------

Christopher J. Brough, President, CEO, Director, Secretary/Treasurer
--------------------------------------------------------------------

Christopher Brough is a globally recognized  award-winning  leader and innovator
in the fields of advertising campaigns and film and television  production.  Mr.
Brough's vast experience led him to co-found three of Canada's  largest and most
prolific television production companies:  Mainframe Entertainment,  the world's
first  computer  animated  television  studio,  producing  such hits as  ReBoot,
Transformers,  Barbie and  others,  BLT  Productions  Ltd,  producer of the long
running sci-fi hit Andromeda,  and the Sextant  Entertainment  Group. Mr. Brough
has been nominated for seven Gemini awards,  won five, and was inducted into the
Smithsonian Institute's CyberWorld Hall of Fame by Microsoft's Bill Gates.

Mr. Brough was also  responsible  for producing  prime-time  series and animated
specials such as Teddy Ruxpin,  which he  co-created.  Teddy Ruxpin held six top
positions on Billboard's  Home Video Sales Charts for over 12 months,  and won a
USDA Award for Best Non-Movie  Children's  Program in 1987, selling in excess of
10 million video units worldwide.

He currently  serves on the Board of Governors  for the Emily Carr  Institute of
Art and Design,  and was the founding  President and Board Director of New Media
BC,  representing  over two  hundred  technology  companies  throughout  British
Columbia.

Mr. Brough started his career in  advertising as a commercial  producer/director
working  with  globally  recognized  clients,  such as  Clairol,  Canada Dry and
Anhauser Busch.

His activities over the last five years include the executive  production of the
award winning  series Aaagh!  It's the Mr. Hell Show for the Comedy  Network and
the BBC in the United Kingdom, and the YTV/Granada  Television series production
of Big Teeth Bad Breath.

Significant Employees
---------------------

PlasmaTech, Inc. does not, at present, have any employees other than the current
officer and  director,  Mr.  Brough.  Mr.  Brough is not a director of any other
reporting Company.

We have not entered into any  employment  agreements as we currently do not have
any employees other than the current officers and directors.

Family Relations
----------------

There  are  no  family   relationships  among  the  directors  and  officers  of
PlasmaTech, Inc.

Involvement in Legal Proceedings
--------------------------------

No executive  officer or director of PlasmaTech,  Inc. has been convicted in any
criminal  proceeding  (excluding  traffic  violations)  or is the  subject  of a
criminal proceeding that is currently pending.

No  executive  officer or  director  of  PlasmaTech,  Inc. is the subject of any
pending legal proceedings.

                                      -18-
<PAGE>

No executive  officer or director is involved in any  bankruptcy  petition by or
against any business in which they are a general partner or executive officer at
this time or within two years of any involvement as a general partner, executive
officer, or director of any business.

Item 10.   Executive Compensation.
           -----------------------

The  current  officer  and  director of  PlasmaTech,  Inc.  does not receive any
compensation and has not received any restricted shares awards,  options, or any
other payouts. As such, we have not included a summary compensation table.

There are no current  employment  agreements  between  PlasmaTech,  Inc. and its
executive officer or director. The officer/director devotes an immaterial amount
of time, no more than 10-15% of his time,  to manage the affairs of  PlasmaTech,
Inc. The director and principal officer has agreed to work without  remuneration
until such time as we receive  sufficient  revenues  necessary to provide proper
salaries to the officer and  compensate  the  director  for  participation.  The
officer and the board of directors  have the  responsibility  to  determine  the
timing of  remuneration  for key  personnel  based upon such factors as positive
cash flow to include shares sales,  product sales,  estimated cash expenditures,
accounts receivable,  accounts payable, notes payable, and a cash balance of not
less than $50,000 at each month end. When positive cash flow reaches  $15,000 at
each month end and appears  sustainable,  the board of directors will re-address
compensation  for key personnel and enact a plan at that time which will benefit
PlasmaTech, Inc. as a whole. At this time, management cannot accurately estimate
when sufficient revenues will occur to implement this compensation, or the exact
amount of compensation.

There are no  annuity,  pension or  retirement  benefits  proposed to be paid to
officers,  directors or employees of the  corporation in the event of retirement
at normal  retirement  date pursuant to any presently  existing plan provided or
contributed to by the corporation or any of its subsidiaries, if any.

Item 11.  Security Ownership of Certain Beneficial Owners and Management Related
          Shareholder Matters.
          ----------------------------------------------------------------------

The  following  table  sets  forth  certain  information  with  respect  to  the
beneficial  ownership of our common  shares as it relates to our named  director
and  executive  officer,  and each person  known to  PlasmaTech,  Inc. to be the
beneficial owner of more than five percent (5%) of said  securities,  and all of
our directors and executive officers as a group:

Name and Position                Shares        Percent        Security
Christopher J. Brough
President and Director           7,000,000     71.4%          Common
================================================================================
Officers and Directors as
a Group (1)                      7,000,000     71.4%          Common

The address for  Christopher J. Brough is 178 Furry Creek,  Furry Creek,  BC V0N
3Z2  Canada.  The above  referenced  common  shares  were paid for and issued in
September 2005, for  consideration  of $0.001 per share total  consideration  of
$7,000.

Item 12.   Certain Relationships and Related Transactions.
           -----------------------------------------------

Currently,  there are no contemplated  transactions  that  PlasmaTech,  Inc. may
enter into with our officers,  directors or affiliates. If any such transactions
are contemplated we will file such disclosure in a timely manner with the SEC on
the proper form making such transaction available for the public to view.

                                      -19-
<PAGE>

PlasmaTech,  Inc. has no formal written employment  agreement or other contracts
with our current  officer,  and there is no  assurance  that the  services to be
provided by him will be available for any specific length of time in the future.
Mr. Brough  anticipates  devoting at a minimum of ten to fifteen  percent of his
available time to PlasmaTech,  Inc.  affairs.  The amounts of  compensation  and
other terms of any full time employment arrangements would be determined, if and
when, such arrangements become necessary.

Item 13.   Exhibits.
           ---------

The following exhibits are incorporated into this Form 10-KSB Annual Report:

The following exhibits are incorporated into this Form 10-KSB Annual Report:

EXHIBIT NO.                          DESCRIPTION
-----------                          -----------

       31.1       Certification  of Christopher J. Brough,  Principal  Executive
                  Officer  and  Principal  Financial  Officer,  pursuant to Rule
                  13a-14(a)   as  adopted   pursuant   to  Section  302  of  the
                  Sarbanes-Oxley Act of 2002.

       32.1       Certificate  of  Christopher  J. Brough,  Principal  Executive
                  Officer and Principal Financial Officer, pursuant to 18 U.S.C.
                  Section  1350,  as  Adopted  Pursuant  to  Section  906 of the
                  Sarbanes-Oxley Act of 2002.

                  Articles of Incorporation*

                  Bylaws*
------------------
* Previously  filed with the Company's Form SB-2 on April 20, 2006 and is hereby
incorporated into this filing by reference.

Item 14.   Principal Accounting Fees and Services.
           ---------------------------------------

The  aggregate  audit fees billed or to be billed by Dale  Matheson  Carr-Hilton
LaBonte,  Chartered  Accountants,  for the  audit  of  PlasmaTech,  Inc.  annual
financial  statements and review of financial  statements  included in this Form
10-KSB and services that are normally  provided by the  accountant in connection
with statutory and regulatory filings or engagements were  approximately  $5,000
for the December 31, 2005 and 2004 financial statements.

Other than the above there were no other  audit-related  fees, tax fees or other
fees incurred for the above period.

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

PlasmaTech, Inc.

Dated: August 21, 2006         /s/Christopher J. Brough
                                 ------------------------------
                                  Christopher J. Brough
                                  President, Secretary Treasurer,
                                  Principal Executive Officer and
                                  Principal Financial Officer and sole Director

                                      -20-