**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


Washington,
      D.C. 20549


**FORM
      10-KSB**


**ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15(d)**


**OF
      THE SECURITIES EXCHANGE ACT OF 1934**


For
                  the fiscal year ended December 31, 2006
              Commission
                  FileNumber
                  000-29461




ORGANETIX,
                INC.
              (Name
                of small business issuer in its
                charter)




Delaware
              73-1556428(State
                  or other jurisdiction of
              (I.R.S.
                  Employerincorporation
                  or organization)
              Identification
                  No.)


405
      Park
      Avenue - 15 th Floor,
      New York, New York 10022


(Address
      of principal executive offices) (Zip Code)


Issuer's
      telephone number: (440)-759-7470


Securities
      registered under Section 12(b) of the Exchange Act:




Name
                  of Each ExchangeTitle
                  of Each Class
              on
                  Which RegisteredNONE
              NONE





Securities
      registered under Section 12(g) of the Exchange Act:





**Common
      Stock, $0.0001 par value**


(Title
      of
      Class)





Check
      whether the issuer (1) filed all reports required to be filed by Section 13
      or
      15(d) of the Exchange Act during the past 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 o





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. o





The
      aggregate market value of the voting common stock held by non-affiliates of
      the
      registrant as of April 27, 2007 was approximately $6,526,420 based on 72,515,780
      shares of common stock. The number of shares of common stock of the registrant
      outstanding on April 27, 2007 was 72,515,780.









**PART
      I**




**ITEM
      1. DESCRIPTION OF BUSINESS**





**HISTORY**





Prior
      to
      November 7, 2003, Organetix, Inc. (the “Company”) was in the direct mail
      business and was named Diamond International Group, Inc. However, on such date,
      pursuant to a share exchange agreement among Diamond, Organetix, Inc. and all
      of
      the shareholders of Organetix (“Exchange Agreement"), Diamond acquired all of
      the shares of Organetix, Inc. from its shareholders in consideration for the
      issuance of 64,000,000 restricted shares of Diamond to the Organetix, Inc.
      shareholders (this transaction is referred to herein as the “Exchange”).
      Pursuant to the Exchange Agreement: (i) Organetix, Inc. became a wholly-owned
      subsidiary of Diamond; (ii) Diamond divested itself of all of its pre-Exchange
      assets to the pre-Exchange shareholders; (iii) Diamond changed its name to
      Organetix, Inc.; (iv) Diamond changed its symbol to “OGTX.OB”; and (v) Sylvio
      Martini resigned as the sole director and officer of the Company and L.B. (Brad)
      Clarke was appointed to the Board of Directors and named as President, Chief
      Executive Officer and Chief Financial Officer of Diamond. On August 16, 2006,
      Mr. Clarke appointed David F. Hostelley to the board of directors and
      subsequently resigned from all officer and director positions. The present
      company shall sometimes be referred to as Organetix or the Company.





**ITEM
      2. DESCRIPTION OF PROPERTY**





None.





**ITEM
      3. LEGAL PROCEEDINGS**





The
      Company is not a party to any material pending legal proceedings or government
      actions, including any bankruptcy, receivership, or similar proceedings.
      Management of the Company does not believe that there are any proceedings to
      which any director, officer, or affiliate of the Company, any owner of record
      of
      the beneficially or more than five percent of the common stock of the Company,
      or any associate of any such director, officer, affiliate of the Company, or
      security holder is a party adverse to the Company or has a material interest
      adverse to the Company.




**ITEM
      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**





None.




1




**PART
      II**





**ITEM
      5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS**





(a)
      The
      Company's common stock is traded on the OTC-Bulletin Board under the symbol
      OGTX.OB. The following sets forth the range of the closing bid prices for the
      Company's common stock for the period January 1, 2006 through April 25, 2007.
      Such prices represent inter-dealer quotations, do not represent actual
      transactions, and do not include retail mark-ups, mark-downs or commissions.
      Such prices were determined from information provided by a majority of the
      market makers for the Company's common stock.





High
                Close
            
            Low
                Close2006First
                Quarter
            
            
            0.07
            
            
            0.01Second
                Quarter
            
            
            0.03
            
            
            0.01Third
                Quarter
            
            
            0.30
            
            
            0.01Fourth
                Quarter
            
            
            0.18
            
            
            0.042007First
                Quarter
            
            
            0.11
            
            
            0.06Second
                Quarter to April 25
            
            
            0.10
            
            
            0.08




(b)
            The
                approximate number of holders of the Common Stock of the Company
                as of
                April 10, 2006 was 1,545.





(c)
            No
                cash dividends were declared by the Company during the fiscal year
                ended
                December 31, 2006. While the payment of dividends rests within the
                discretion of the board of directors, it is not anticipated that
                cash
                dividends will be paid in the foreseeable future, as the Company
                intends
                to retain earnings, if any, for use in the development of its business.
                The payment of dividends is contingent upon the Company's future
                earnings,
                if any, the Company's financial condition and its capital requirements,
                general business conditions and other factors.





(d)
            Commencing
                January 11, 2007, the Company began selling shares of its common
                stock for
                $0.03 per share. To date, the Company has sold 8,633,333 shares for
                a
                total of $259,000. The Company plans on raising an additional $150,000
                over the next 30 days. However, the terms of such raise have yet
                to be
                determined.




**ITEM
      6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
      OF
      OPERATIONS**





**CAUTIONARY
      STATEMENT REGARDING FORWARD LOOKING STATEMENTS**




It
      should
      be noted that this Management's Discussion and Analysis of Financial Condition
      and Results of Operations may contain "forward-looking statements." The terms
      "believe," "anticipate," "intend," "goal," "expect," and similar expressions
      may
      identify forward-looking statements. These forward-looking statements represent
      the Company's current expectations or beliefs concerning future events. The
      matters covered by these statements are subject to certain risks and
      uncertainties that could cause actual results to differ materially from those
      set forth in the forward-looking statements, including the Company's dependence
      on weather-related factors, introduction and customer acceptance of new
      products, the impact of competition and price erosion, as well as supply and
      manufacturing restraints and other risks and uncertainties. The foregoing list
      should not be construed as exhaustive, and the Company disclaims any obligation
      subsequently to revise any forward-looking statements to reflect events or
      circumstances after the date of such statements, or to reflect the occurrence
      of
      anticipated or unanticipated events. In light of the significant uncertainties
      inherent in the forward-looking information included herein, the inclusion
      of
      such information should not be regarded as a representation that the strategy,
      objectives or other plans of the Company will be achieved. The Company wishes
      to
      caution readers not to place undue reliance on any such forward-looking
      statements, which speak only as of the date made.




2




On
      April
      10, 2006, Organetix retained Meyler & Company LLC as its independent
      accountants and informed Lazar Levine & Felix LLP ("Lazar") its previous
      independent accountants, that it was no longer using their services. Other
      than
      a going concern qualification, Lazar's reports on the financial statements
      of
      the Company for the past two years did not contain an adverse opinion or
      disclaimer of opinion, and were not qualified or modified as to uncertainty,
      audit scope, or accounting principals. During our two most recent fiscal years
      ended December 31, 2006 and subsequent interim period through April 10, 2006
      (the date of the termination) there were no disagreements with our former
      accountant on any matter of accounting principals or practices, financial
      statement disclosure, or auditing scope or procedure. The decision to change
      accountants was approved by our board of directors.




On
      August
      18, 2006, AMMA Corporation, as a representative of certain of the Company’s
      shareholders (collectively, “Sellers”) agreed to sell their shares to certain
      purchasers pursuant to the terms of the stock purchase agreement dated that
      day
      (“Stock Purchase Agreement”). The Stock Purchase Agreement required, among other
      things, that the current board of directors appoint Dr. David F. Hostelley
      to
      serve as the Company’s President and Chairman of the board of directors and
      immediately after Dr. Hostelley’s appointment, the remaining officers and
      directors resign from all positions. The consideration paid to the Sellers
      was:
      (i) $422,500 and (ii) the majority of the Company’s assets.




On
      September 26, 2006, the Company entered into a non-binding letter of intent
      with
      Volius, Inc. (“Volius”) whereby the Company agreed to acquire all of Volius’
assets in exchange for 50.5% of the company’s shares of common stock or
      approximately 63,511,270 shares on a fully-diluted basis and further raise
      between $4 and $6 million dollars to fund the operations of the proposed company
      on mutually agreeable terms. During discussions with Volius, it became apparent
      to both Volius and the Company that it would be difficult, if not impossible,
      to
      agree on the amount of capital to be raised, the valuation of Volius and the
      timing of the ultimate transaction. Also during that period, the Company was
      introduced to ADAO Telecom, Inc., a privately held Florida corporation (“ADAO”)
      and concluded that ADAO was a better fit with shareholders' goals of acquiring
      a
      business with dynamic opportunities. On January 18, 2007, the Company terminated
      its letter of intent to acquire Volius.




On
      January 24, 2007, Organetix executed a definitive agreement to acquire
      ADAO.  ADAO is a telephony engineering and design firm specializing in the
      development of cellular technologies that target the low-end user market
      segment.  The transaction is expected to close in the 2 nd calendar
      quarter of 2007 (“Closing”). The Company is required to invest an aggregate of
      $300,000 in ADAO prior to the closing, which shall be used specifically to
      develop a prototype to be owned by the Company. Upon successful completion
      of
      the prototype and other conditions in the proposed exchange transaction, at
      Closing, the Company shall issue 73,500,000 ($.0001 par value per share)
      restricted shares of common stock of the Company equal to approximately 53.5%
      of
      the outstanding shares of common stock to the shareholders of ADAO. As further
      consideration, the Company has agreed that, subsequent to Closing, it
      will increase its authorized number of shares of common stock from
      150,000,000 to 300,000,000 and change its name to ADAO Wireless, Inc. ADAO
      will
      then receive an additional 17,000,000 shares of the Company’s common stock.
      Assuming the Closing has occurred and the Company has completed the necessary
      steps to increase the authorized number of shares of common stock, agents of
      the
      Company have agreed to make their best efforts to raise between $3,500,000
      and
      $4,500,000.




On
      February 15, 2007, Organetix entered into non-exclusive agreements with
      Ambassador Thomas Graham, Jr., Mr. David Lewis and Mr. Aaron Foley to serve
      on
      the Company’s Board of Advisors. However, subsequent to that date, Ambassador
      Graham and the Corporation mutually agreed to terminate that agreement, and
      as a
      result, Ambassador Graham is not a member of the Company’s Board of Advisors.
      Thus, the Company’s Board of Advisors consists of Messrs. Lewis and Foley
      and each shall serve until the earlier of February 15, 2009 or the date that
      either Advisor is removed from the Board. As compensation for participation
      on
      the Board of Advisors, each member received 500,000 shares of the Company’s
      common stock.




3




**RESULTS
      OF OPERATIONS**





We
      are
      currently in the development stage and have generated no revenues to date.
      Our
      activities from inception to August 2006 were related to our formation,
      preparation of our business model, arranging and planning financing and the
      acquiring all rights, title and interest in the A4+L compound. During 2003
      the
      Company completed a reverse acquisition of Diamond International Group Inc.,
      changed its name to Organetix, Inc., changed its OTC-BB symbol to OGTX and
      began
      a new harvest of materials necessary to begin formulating new bulk inventories
      of the A4+L liver product in 2004. We have financed our operations to date
      through the sale of our securities and affiliates of our shareholders have
      provided administrative services for which we have been billed. Since August
      2006 we have been considering various business transactions and believe the
      ADAO
      acquisition, if successfully completed, will result in substantial shareholder
      value.




Operating
      costs for the twelve-month period ended December 31, 2005 aggregated $1,269,359.
      This includes costs incurred in research and development of $449,099, consulting
      fees of $187,000 and marketing and public relations fees in the amount of
      $169,256. As a result of the above, we realized a cumulative loss of
      $(1,269,359) or $(0.01) per share.





Operating
      costs for the twelve-month period ended December 31, 2006 aggregated $1,114,370.
      This includes costs incurred in a loss that occurred on disposition of assets
      of
      $592,861, consulting fees of $150,000 and research and development expenses
      in
      the amount of $147,139. As a result of the above, we realized a loss of
      $(1,114,370) for the twelve-month period ended December 31, 2006 or $(0.01)
      per
      share.





**CRITICAL
      ACCOUNTING POLICIES AND ESTIMATES**





The
      Company’s discussion and analysis of its financial condition and results of
      operations are based upon its financial statements, which have been prepared
      in
      accordance with accounting principles generally accepted in the United States.
      The preparation of these financial statements requires the Company to make
      estimates and judgments that affect the reported amounts of assets, liabilities,
      revenues and expenses, and related disclosure of contingent assets and
      liabilities. On an on-going basis, the Company evaluates its estimates,
      including those related to bad debts, income taxes and contingencies and
      litigation. The Company bases its estimates on historical experience and on
      various other assumptions that are believed to be reasonable under the
      circumstances, the results of which form the basis for making judgments about
      carrying values of assets and liabilities that are not readily apparent from
      other sources. Actual results may differ from these estimates under different
      assumptions or conditions.





**RECENTLY
      ISSUED ACCOUNTING PRONOUNCEMENTS**




***Recent
      Accounting Pronouncements Affecting The Company:***





In
      June 2006, the Financial Accounting Standards Board (“FASB”) issued
      Interpretation 48, “Accounting for Income Tax Uncertainties” (“FIN 48”). FIN 48
      defines the threshold for recognizing the benefits of tax return positions
      in
      the financial statements as “more-likely-than-not” to be sustained by the taxing
      authority. Recently issued literature also provides guidance on the
      derecognition, measurement and classification of income tax uncertainties,
      along
      with any related interest and penalties. FIN 48 also includes guidance
      concerning accounting for income tax uncertainties in interim periods and
      increases the level of disclosures associated with any recorded income tax
      uncertainties. FIN 48 is effective for fiscal years beginning after
      December 15, 2006. The Company expects to adopt the provisions of FIN 48
      beginning in the first quarter of 2007. The Company is currently in the process
      of determining the impact, if any, of adopting the provisions of FIN 48 on
      its
      financial position, results of operations and liquidity.




In
      September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements,” which
      defines fair value, establishes a framework for measuring fair value under
      other
      accounting pronouncements that permit or require fair value measurements,
      changes the methods used to measure fair value and expands disclosures about
      fair value measurements. In particular, disclosures are required to provide
      information on the extent to which fair value is used to measure assets and
      liabilities; the inputs used to develop measurements; and the effect of certain
      of the measurements on earnings (or changes in net assets). SFAS No. 157 is
      effective for fiscal years beginning after November 15, 2007 and interim periods
      within those fiscal years. Early adoption, as of the beginning of an entity’s
      fiscal year, is also permitted, provided interim financial statements have
      not
      yet been issued. The Company expects to adopt the provisions of FIN 48 beginning
      in the first quarter of 2008. The Company is currently evaluating the potential
      impact, if any, that the adoption of SFAS No. 157 will have on its consolidated
      financial statements.




4





In
      September 2006, the Securities and Exchange Commission issued Staff Accounting
      Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when
      Quantifying Misstatements in Current Year Financial Statements” (“SAB No. 108”).
      SAB No. 108 provides guidance on how prior year misstatements should be
      considered when quantifying misstatements in the current year financial
      statements. SAB No. 108 requires registrants to quantify misstatements using
      both a balance sheet and an income statement approach and evaluate whether
      either approach results in quantifying a misstatement that, when all relevant
      quantitative and qualitative factors are considered, is material. SAB No. 108
      does not change the guidance in SAB No. 99, “Materiality,” when evaluating the
      materiality of misstatements.





SAB
      No.
      108 is effective for fiscal years ending after November 15, 2006. Upon initial
      application, SAB No. 108 permits a one-time cumulative effect adjustment to
      beginning retained earnings. The Company adopted SAB No. 108 for the fiscal
      year
      ended December 31, 2006. Adoption of SAB No. 108 did not have a material impact
      on the consolidated financial statements.





In
      February 2007, the FASB issued SFAS No. 159, *The
      Fair Value Option for Financial Assets and Financial Liabilities* (“SFAS 159”).
      SFAS 159 allows entities to measure at fair value many financial
      instruments and certain other assets and liabilities that are not otherwise
      required to be measured at fair value. SFAS 159 is effective for fiscal
      years beginning after November 15, 2007. We have not determined what
      impact, if any, that adoption will have on our results of operations, cash
      flows
      or financial position.




5




ORGANETIX,
      INC.


A
      Development Stage Company


Report
                  of Registered Public Accounting Firm
              
              
              F
                  - 2Financial
                  Statements:Balance
                  Sheets as of December 31, 2006 and 2005
              
              
              F-3Statements
                  of Operations for the years ended December 31, 2006 and2005
                  and for the period May 28, 2003 (inception) to December 31,
                  2006
              
              
              F-4Statement
                  of Shareholders' Equity for the Period from Inception (May 28,
                  2003)to
                  December 31, 2006
              
              
              F-5
                  to F-6Statements
                  of Cash Flows for the years ended December 31, 2006and
                  2005 and for the period May 28, 2003 (inception) to December 31,
                  2006
              
              
              F-7
                  to F-8Notes
                  to Financial Statements
              
              
              F-9
                  to F-16




F-1




MEYLER
      & COMPANY, LLC


ONE
      ARIN
      PARK


1715
      HIGHWAY 35


MIDDLETOWN,
      NJ 07748





REPORT
      OF
      INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM





To
      the
      Shareholders


Organetix,
      Inc.


New
      York,
      New York





We
      have
      audited the accompanying balance sheets of Organetix, Inc. (a development stage
      company) as of December 31, 2006 and 2005, the related statements of operations,
      shareholders' equity and its cash flows for each of the two years then ended
      and
      for the cumulative period May 28, 2003 (inception) to December 31, 2006. 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 the audit to obtain reasonable assurance about 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, 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, the financial statements referred to above present fairly, in all
      material respects, the financial position of Organetix, Inc. (a development
      stage company) as of December 31, 2006 and 2005, and the results of its
      operations and its cash flows for each of the two years in the period ended
      December 31, 2006 and for the cumulative period May 28, 2003 (inception) to
      December 31, 2006, 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 has accumulated net losses since inception of $4,018,737
      at December 31, 2006 and there are existing uncertain conditions the Company
      faces relative to its ability to obtain capital and operate successfully. These
      conditions raise substantial doubt about its ability to continue as a going
      concern. Management's plans regarding those matters are also discussed in Note
      1. The financial statements do not include any adjustments that might result
      from the outcome of these uncertainties.





/s/
      Meyler & Company, LLC




Middletown,
      NJ


April
      26,
      2007




F-2




ORGANETIX,
                INC.(A
                Development Stage Company)BALANCE
                SHEETS




December
                  31,
              
              December
                  31,2006
              
              2005ASSETSCURRENT
                  ASSETSCash
              
              $
              -
              
              $
              3,279Prepaid
                  expenses
              
              
              -
              
              
              18,859Total
                  Current Assets
              
              
              -
              
              
              22,138TRANSPORTATION
                  EQUIPMENT, net of accumulateddepreciation
                  of $0 and $15,000, respectively
              
              
              -
              
              
              15,000LICENSE
                  AGREEMENT, net of accumulated amortization of$
                  0
                  and $153,250, respectively
              
              
              -
              
              
              2,036,750Total
                  Assets
              
              $
              -
              
              $
              2,073,888LIABILITIES
                  AND STOCKHOLDERS' EQUITYCURRENT
                  LIABILITIESConvertible
                  note payable
              
              $
              -
              
              $
              150,000Note
                  payable to individual
              
              
              -
              
              
              16,200Accounts
                  payable
              
              
              -
              
              
              157,152Accrued
                  salaries to officers
              
              
              -
              
              
              483,966Interest
                  payable
              
              
              -
              
              
              15,720Due
                  to related parties
              
              
              -
              
              
              161,480Total
                  Current Liabilities
              
              
              -
              
              
              984,518STOCKHOLDERS'
                  EQUITYCommon
                  stock, par value $0.0001, authorized150,000,000
                  shares, issued and outstanding62,882,447
                  and 86,382,447 at December 31, 2006and
                  December 31, 2005, respectively
              
              
              6,288
              
              
              8,638Additional
                  paid in capital
              
              
              4,012,449
              
              
              3,985,099Deficit
                  accumulated during the development stage
              
              
              (4,018,737
              )
              
              (2,904,367
              )Total
                  Stockholders' Equity
              
              
              -
              
              
              1,089,370Total
                  Liabilities and Stockholders' Equity
              
              
              -
              
              
              2,073,888




See
        accompanying notes to financial statements.
  F-3





ORGANETIX,
                INC.(A
                Development Stage Company)CONSOLIDATED
                STATEMENTS OF OPERATIONS




For
                the PeriodFrom
                InceptionYear
                  EndedDecember
                31,
            
            (May
                28, 2003) to2006
            
            2005
            
            December
                31, 2006REVENUES
            
            $
            -
            
            $
            -
            
            $
            -COSTS
                AND EXPENSESOperating
                expenses- research facility
            
            
            36,600
            
            
            77,449
            
            
            247,659Research
                and development expenses
            
            
            147,139
            
            
            449,099
            
            
            1,264,156Consulting
                fees
            
            
            150,000
            
            
            187,000
            
            
            528,528Professional
                fees
            
            
            55,296
            
            
            116,012
            
            
            365,796Travel
                and accommodations
            
            
            9,654
            
            
            29,452
            
            
            130,364Telephone
            
            
            3,056
            
            
            10,141
            
            
            35,528Interest
                expense
            
            
            14,280
            
            
            38,390
            
            
            52,670Insurance
            
            
            22,816
            
            
            46,950
            
            
            104,188Rent
            
            
            9,345
            
            
            14,247
            
            
            42,410Shipping
                expense
            
            
            41
            
            
            1,826
            
            
            6,184Office
                and other expense
            
            
            32,137
            
            
            64,787
            
            
            167,775Marketing
                and public relations
            
            
            676
            
            
            169,256
            
            
            271,899Depreciation
                and amortization expense
            
            
            40,469
            
            
            64,750
            
            
            208,719Loss
                on disposition of assets
            
            
            592,861
            
            
            -
            
            
            592,861Total
                Costs and Expenses
            
            
            1,114,370
            
            
            1,269,359
            
            
            4,018,737NET
                LOSS
            
            $
            (1,114,370
            )
            $
            (1,269,359
            )
            $
            (4,018,737
            )NET
                LOSS PER COMMONSHARE
                (Basic and Diluted)
            
            
            ($0.01
            )
            
            ($0.01
            )
            
            ($0.05
            )WEIGHTED
                AVERAGE SHARESOUTSTANDING
            
            
            74,600,255
            
            
            85,351,488
            
            
            79,637,272




See
        accompanying notes to financial statements.
  F-4





ORGANETIX,
                INC.(A
                Development Stage Company)CONSOLIDATED
                STATEMENT OF STOCKHOLDERS' EQUITY




DeficitAccumulatedAdditional
              
              
              
              DuringCommon
                  Stock
              
              Paid-in
              
              Subscription
              
              Development
              
              Stockholders'Shares
              
              Amount
              
              Capital
              
              Receivable
              
              Stage
              
              EquityAt
                  inception (May 28, 2003)
              
              
              12,362,056
              
              $
              1,236
              
              $
              298,764
              
              
              -
              
              
              -
              
              $
              300,000Issuance
                  at inception to founders
              
              
              7,200,000
              
              
              720
              
              
              71,280
              
              
              (6,240
              )
              
              -
              
              
              65,760Issuance
                  pursuant to private placement
              
              
              640,000
              
              
              64
              
              
              159,936
              
              
              -
              
              
              -
              
              
              160,000Assignment
                  of license agreement
              
              
              8,160,000
              
              
              816
              
              
              2,039,184
              
              
              -
              
              
              -
              
              
              2,040,000Additional
                  shares issued pursuant to merger
              
              
              48,000,000
              
              
              4,800
              
              
              (4,800
              )
              
              -
              
              
              -
              
              
              -Net
                  loss from inception to December 31, 2003
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              (394,682
              )
              
              (394,682
              )Balance,
                  December 31, 2003
              
              
              76,362,056
              
              
              7,636
              
              
              2,564,364
              
              
              (6,240
              )
              
              (394,682
              )
              
              2,171,07810%
                  stock dividend
              
              
              3,017,584
              
              
              302
              
              
              (302
              )
              
              -
              
              
              -
              
              
              -Issuance
                  of shares for cash
              
              
              1,000,000
              
              
              100
              
              
              124,900
              
              
              -
              
              
              -
              
              
              125,000Regulation
                  S offering
              
              
              855,400
              
              
              86
              
              
              97,971
              
              
              -
              
              
              -
              
              
              98,057Issuance
                  of shares for cash
              
              
              203,038
              
              
              20
              
              
              20,084
              
              
              -
              
              
              -
              
              
              20,104Issuance
                  of shares for cash
              
              
              3,381,552
              
              
              338
              
              
              236,367
              
              
              -
              
              
              -
              
              
              236,705Shares
                  issued in lieu of payment for legal services
              
              
              142,857
              
              
              14
              
              
              9,986
              
              
              -
              
              
              -
              
              
              10,000Stock
                  subscriptionreceived
              
              
              
              
              
              
              
              
              
              
              
              6,240
              
              
              
              
              
              6,240Services
                  received by Company - paid for by common shares previously issued
                  and held
                  in escrow
              
              
              
              
              
              
              
              
              131,970
              
              
              
              
              
              
              
              
              131,970


See
      accompanying notes to financial statements.




F-5




ORGANETIX,
                INC.(A
                Development Stage Company)CONSOLIDATED
                STATEMENT OF STOCKHOLDERS'
                EQUITY




DeficitAccumulatedCommon
                  Stock
              
              Additional
                  Paid-in
              
              Subscription
              
              During
                  Development
              
              Stockholders'Shares
              
              Amount
              
              Capital
              
              Receivable
              
              Stage
              
              EquityNet
                  loss for year ended December 31, 2004
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              (1,240,326
              )
              
              (1,240,326
              )Balance,
                  December 31, 2004
              
              
              84,962,487
              
              
              8,496
              
              
              3,685,340
              
              
              -
              
              
              (1,635,008
              )
              
              2,058,828Additional
                  cash contributions received by the Company per agreement
              
              
              -
              
              
              -
              
              
              124,000
              
              
              -
              
              
              -
              
              
              124,000Issuance
                  of shares as additional consideration for convertible loan
              
              
              150,000
              
              
              15
              
              
              22,485
              
              
              -
              
              
              -
              
              
              22,500Services
                  received by Company - paid for by common shares previously issued
                  and held
                  in escrow
              
              
              1,270,000
              
              
              127
              
              
              153,274
              
              
              -
              
              
              -
              
              
              153,401Net
                  loss for year ended December 31, 2005
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              (1,269,359
              )
              
              (1,269,359
              )Balance,
                  December 31, 2005
              
              
              86,382,487
              
              
              8,638
              
              
              3,985,099
              
              
              -
              
              
              (2,904,367
              )
              
              1,089,370Cancellation
                  of common stock
              
              
              (23,400,040
              )
              
              (2,350
              )
              
              2,350
              
              
              -
              
              
              -
              
              
              -Contribution
                  of services
              
              
              -
              
              
              -
              
              
              25,000
              
              
              -
              
              
              -
              
              
              25,000Net
                  loss for year ended December 31, 2006
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              (1,114,370
              )
              
              (1,114,370
              )Balance,
                  December 31, 2006
              
              
              62,882,447
              
              $
              6,288
              
              $
              4,012,449
              
              $
              -
              
              $
              (4,018,737
              )
              $
              -





See
      accompanying notes to financial statements.




F-6


ORGANETIX,
                INC.(A
                Development Stage Company)CONSOLIDATED
                STATEMENTS OF CASH FLOWS




For
                the PeriodFor
                the
            
            From
                InceptionYear
                Ended December 31,
            
            (May
                28, 2003) to2006
            
            2005
            
            December
                31, 2006CASH
                FLOWS FROM OPERATING ACTIVITIESNet
                loss
            
            $
            (1,114,370
            )
            $
            (1,269,359
            )
            $
            (4,018,737
            )Adjustments
                to reconcile net loss to net cashprovided
                by operating activitiesDepreciation
                and amortization
            
            
            40,469
            
            
            64,750
            
            
            208,719Loss
                on disposition of assets
            
            
            592,861
            
            
            -
            
            
            592,861Compensatory
                shares
            
            
            -
            
            
            175,901
            
            
            324,111Changes
                in assets and liabilities:Decrease
                in research and development supplies
            
            
            -
            
            
            72,108
            
            
            -(Increase)
                decrease in prepaid expenses
            
            
            (24,555
            )
            
            3,588
            
            
            (43,414
            )Increase
                in accounts payable
            
            
            197,004
            
            
            109,396
            
            
            354,156Increase
                in accrued salaries to officers
            
            
            225,000
            
            
            322,000
            
            
            708,966Increase
                in due to shareholders
            
            
            42,793
            
            
            161,480
            
            
            204,273Increase
                in accrued interest
            
            
            12,519
            
            
            15,720
            
            
            28,239Net
                cash used in operating activities
            
            
            (28,279
            )
            
            (344,416
            )
            
            (1,640,826
            )CASH
                FLOWS FROM INVESTING ACTIVITIESPayment
                regarding license
            
            
            -
            
            
            -
            
            
            (150,000
            )Capital
                expenditures
            
            
            -
            
            
            -
            
            
            (30,000
            )Net
                cash used in investing activities
            
            
            -
            
            
            -
            
            
            (180,000
            )CASH
                FLOWS FROM FINANCING ACTIVITIESIssuance
                of common stock to founders
            
            
            -
            
            
            -
            
            
            65,760Additional
                contribution of capital
            
            
            25,000
            
            
            124,000
            
            
            1,288,866Cash
                received in merger
            
            
            -
            
            
            -
            
            
            300,000Convertible
                note payable
            
            
            -
            
            
            150,000
            
            
            150,000Note
                payable to individual
            
            
            -
            
            
            16,200
            
            
            16,200Net
                cash provided by financing activities
            
            
            25,000
            
            
            290,200
            
            
            1,820,826DECREASE
                IN CASH
            
            
            (3,279
            )
            
            (54,216
            )
            
            -CASH
                AT BEGINNING OF YEAR
            
            
            3,279
            
            
            57,495
            
            
            -CASH
                AT END OF YEAR
            
            $
            -
            
            $
            3,279
            
            $
            -




See
      accompanying notes to financial statements.




F-7





ORGANETIX,
                INC.(A
                Development Stage Company)CONSOLIDATED
                STATEMENTS OF CASH FLOWS




For
                the PeriodFor
                the
            
            From
                InceptionYear
                Ended December 31,
            
            (May
                28, 2003) to2006
            
            2005
            
            December
                31, 2006SUPPLEMENTAL
                DISCLOSURES OF CASH FLOW INFORMATIONNON-CASH
                FINANCING ACTIVITIESCancellation
                of common stock
            
            
            2,350
            
            
            
            
            
            2,350


See
        accompanying notes to financial statements.
  F-8


(A
      Development Stage Company)





NOTES
      TO
      FINANCIAL STATEMENTS


DECEMBER
      31, 2006 AND 2005





NOTE
      1 -
      DESCRIPTION OF COMPANY/OPERATIONS, GOING CONCERN AND CHANGE OF
      CONTROL





Organetix,
      Inc. ("the Company" or "Organetix"), a Delaware corporation, was incorporated
      on
      May 28, 2003.





Organetix
      was a biotechnology company with an exclusive worldwide license for the formula
      of a proprietary medical discovery relating to the liver referred to as A4+L.





On
      November 7, 2003 (the "Effective Date"), pursuant to a Share Exchange Agreement
      ("Agreement") between Diamond International Group, Inc. ("Diamond"), a Delaware
      corporation and Organetix, Inc. ("Organetix"), a Delaware corporation and all
      of
      the shareholders of Organetix, Diamond acquired all of the shares of Organetix
      as consideration for the issuance of 64,000,000 restricted shares of Diamond
      to
      the Organetix shareholders. As a result of this Agreement, Diamond International
      Group, Inc. (the legal acquirer) received 100% of the issued and outstanding
      common stock of Organetix, Inc. in exchange for 64,000,000 shares of common
      stock of Diamond. Pursuant to the Agreement, Organetix became a wholly owned
      subsidiary of Diamond which entity filed a Certificate of Amendment with the
      State of Delaware changing its name to Organetix, Inc. This reverse merger
      transaction was treated retroactively as a recapitalization with Organetix,
      Inc.
      being treated as the accounting acquirer.





Previously,
      the Company devoted its time towards establishing its business and no revenues
      have been generated to date. As such, the Company is considered as being in
      the
      development stage, since its inception, in accordance with Statement of
      Financial Accounting Standards No. 7, and its year-end is December
      31.





Change
      in Control:





On
      August
      18, 2006, AMMA Corporation and other shareholders entered into a stock purchase
      agreement with Lusierna Asset Management, as agent for various purchasers
      ("Stock Purchase Agreement"), whereby AMMA Corporation shall sold 51,546,000
      shares of the Company's common stock. The closing of the Stock Purchase
      Agreement resulted in a change of control. As consideration for the shares
      and
      the assumption of all liabilities of the Company, AMMA Corporation received
      (i)
      cash and (ii) an assignment of certain assets of the Company. The Company did
      not receive any sales proceeds or other consideration in connection with this
      transaction. As a result of this change of control, the Company cancelled
      23,500,040 shares of its common stock. The Company also released or paid in
      cash
      its outstanding liabilities in exchange for the rights to the Company’s
      licensing agreement. Accordingly, a $592,861 loss was recorded on the
      disposition of these assets and liabilities.





Going
      Concern:





As
      shown
      in the accompanying financial statements, the Company has incurred net losses
      of
      $4,018,737 since inception. Management's plans include raising of capital
      through the equity markets to fund operations, and the generating of revenue
      through its business. Failure to raise adequate capital and generate adequate
      sales revenues could result in the Company having to curtail or cease
      operations. Additionally, even if the Company does raise sufficient capital
      to
      support its operating expenses and generate adequate revenues, there can be
      no
      assurances that the revenue will be sufficient to enable it to develop to a
      level where it will generate profits and cash flows from operations. These
      matters raise substantial doubt about the Company's ability to continue as
      a
      going concern. However, the accompanying financial statements have been prepared
      on a going concern basis, which contemplates the realization of assets and
      satisfaction of liabilities in the normal course of business. These financial
      statements do not include any adjustments relating to the recovery of the
      recorded assets or the classifications of the liabilities that might be
      necessary should the Company be unable to continue as a going
      concern.




F-9




ORGANETIX,
      INC.


(A
      Development Stage Company)





NOTES
      TO
      FINANCIAL STATEMENTS


DECEMBER
      31, 2006 AND 2005





NOTE
      2 -
      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:





The
      Company's accounting policies are in accordance with accounting principles
      generally accepted in the United States of America. Outlined below are those
      policies considered particularly significant.





Use
      of
      Estimates:





In
      preparing financial statements in accordance with accounting principles
      generally accepted in the United States of America, management makes certain
      estimates and assumptions, where applicable, that affect the reported amounts
      of
      assets and liabilities and disclosures of contingent assets and liabilities
      at
      the date of the financial statements, as well as the reported amounts of
      revenues and expenses during the reporting period. While actual results could
      differ from those estimates, management does not expect such variances, if
      any,
      to have a material effect on the financial statements.





Statements
      of Cash Flows:





For
      purposes of the statement of cash flows the Company considers all highly liquid
      investments purchased with an original maturity of three months or less to
      be
      cash equivalents.





Fair
      Value of Financial Instruments:





The
      Company's financial instruments consist primarily of cash and cash equivalents
      and accounts payable. The recorded values of cash and cash equivalents and
      accounts payable approximate their fair values based on their short-term
      nature.





Fixed
      Assets:





Fixed
      assets are recorded at cost. Depreciation is provided on a straight-line basis
      over 5 years.





Amortization
      - License Agreement:





The
      cost
      of the license is being amortized on the straight-line method over its
      contractual life of 40 years. Intangible assets that do not have indefinite
      lives are amortized over their useful lives and reviewed for impairment in
      accordance with SFAS No. 144 "Accounting for the Impairment or Disposal of
      Long-Lived Assets".





Research
      and Development Expenses:





Research
      and development costs are charged to expense when incurred and aggregated
      $147,139 and $449,099 for the years ended December 31, 2006 and 2005,
      respectively





Income
      Taxes:





The
      asset
      and liability method is used in accounting for income taxes. Under this method,
      deferred tax assets and liabilities are recognized for operating loss and tax
      credit carry forwards and for the future tax consequences attributable to
      differences between the financial statement carrying amounts of existing assets
      and liabilities and their respective tax bases. Deferred tax assets and
      liabilities are measured using enacted tax rates expected to apply to taxable
      income in the years in which those temporary 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 the
      results of operations in the period that includes the enactment date. A
      valuation allowance is recorded to reduce the carrying amounts of deferred
      tax
      assets unless it is more likely than not that such assets will be
      realized.




F-10




ORGANETIX,
      INC.


(A
      Development Stage Company)





NOTES
      TO
      FINANCIAL STATEMENTS


DECEMBER
      31, 2006 AND 2005





NOTE
      2 -
      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):





Net
      Loss per Share:





Basic
      and
      diluted earnings (loss) per common share are computed using the weighted average
      number of shares of common stock outstanding for the period.





Recent
      Accounting Pronouncements:





In
      June 2006, the Financial Accounting Standards Board (“FASB”) issued
      Interpretation 48, “Accounting for Income Tax Uncertainties” (“FIN 48”). FIN 48
      defines the threshold for recognizing the benefits of tax return positions
      in
      the financial statements as “more-likely-than-not” to be sustained by the taxing
      authority. Recently issued literature also provides guidance on the
      derecognition, measurement and classification of income tax uncertainties,
      along
      with any related interest and penalties. FIN 48 also includes guidance
      concerning accounting for income tax uncertainties in interim periods and
      increases the level of disclosures associated with any recorded income tax
      uncertainties. FIN 48 is effective for fiscal years beginning after
      December 15, 2006. The Company expects to adopt the provisions of FIN 48
      beginning in the first quarter of 2007. The Company is currently in the process
      of determining the impact, if any, of adopting the provisions of FIN 48 on
      its
      financial position, results of operations and liquidity.




In
      September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements,” which
      defines fair value, establishes a framework for measuring fair value under
      other
      accounting pronouncements that permit or require fair value measurements,
      changes the methods used to measure fair value and expands disclosures about
      fair value measurements. In particular, disclosures are required to provide
      information on the extent to which fair value is used to measure assets and
      liabilities; the inputs used to develop measurements; and the effect of certain
      of the measurements on earnings (or changes in net assets). SFAS No. 157 is
      effective for fiscal years beginning after November 15, 2007 and interim periods
      within those fiscal years. Early adoption, as of the beginning of an entity’s
      fiscal year, is also permitted, provided interim financial statements have
      not
      yet been issued. The Company expects to adopt the provisions of FIN 48 beginning
      in the first quarter of 2008. The Company is currently evaluating the potential
      impact, if any, that the adoption of SFAS No. 157 will have on its consolidated
      financial statements.




In
      September 2006, the Securities and Exchange Commission issued Staff Accounting
      Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when
      Quantifying Misstatements in Current Year Financial Statements” (“SAB No. 108”).
      SAB No. 108 provides guidance on how prior year misstatements should be
      considered when quantifying misstatements in the current year financial
      statements. SAB No. 108 requires registrants to quantify misstatements using
      both a balance sheet and an income statement approach and evaluate whether
      either approach results in quantifying a misstatement that, when all relevant
      quantitative and qualitative factors are considered, is material. SAB No. 108
      does not change the guidance in SAB No. 99, “Materiality,” when evaluating the
      materiality of misstatements. SAB No. 108 is effective for fiscal years ending
      after November 15, 2006. Upon initial application, SAB No. 108 permits a
      one-time cumulative effect adjustment to beginning retained earnings. The
      Company adopted SAB No. 108 for the fiscal year ended December
      31, 2006. Adoption of SAB No. 108 did not have a material impact on the
      consolidated financial statements.




F-11





ORGANETIX,
      INC.


(A
      Development Stage Company)





NOTES
      TO
      FINANCIAL STATEMENTS


DECEMBER
      31, 2006 AND 2005





NOTE
      2 -
      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED):





Recent
      Accounting Pronouncements (Continued):





In
      February 2007, the FASB issued SFAS No. 159, *The
      Fair Value Option for Financial Assets and Financial Liabilities* (“SFAS 159”).
      SFAS 159 allows entities to measure at fair value many financial
      instruments and certain other assets and liabilities that are not otherwise
      required to be measured at fair value. SFAS 159 is effective for fiscal
      years beginning after November 15, 2007. We have not determined what
      impact, if any, that adoption will have on our results of operations, cash
      flows
      or financial position.





NOTE
      3 -
      TRANSPORTATION EQUIPMENT





December
                31,2006
            
            2005Transportation
                equipment
            
            $
            -
            
            $
            30,000Accumulated
                depreciation
            
            
            -
            
            
            (15,000
            )$
            -
            
            $
            15,000





NOTE
      4 -
      LICENSE AGREEMENT





December
                31,2006
            
            2005License
                agreement
            
            $
            -
            
            $
            2,190,000Accumulated
                amortization
            
            
            -
            
            
            (153,250
            )$
            -
            
            $
            2,036,750





NOTE
      5 -
      CONVERTIBLE NOTE PAYABLE:





On
      July
      6, 2005 the Company executed three convertible promissory notes with three
      individuals who are also shareholders of the Company for an aggregate of
      $150,000. The notes were to bridge the Company for 90 days while it closed
      a
      proposed private placement memorandum with an investment banker in New Jersey,
      which did not materialize due to a significant drop in the Company's share
      price
      in the second quarter of 2005. The notes bear interest at the rate of 20% per
      annum and were due within 90 days of the note date. These notes are currently
      in
      default. Additionally, these individuals received 150,000 shares of the
      Company's restricted common stock as additional consideration for making
      unsecured loans to the Company.





The
      terms
      of the conversion were based upon the proposed private placement memorandum
      which did not materialize and thus the Company does not have definitive
      conversion terms. The Company plans to reach amicable terms with the note
      holders relating to the terms of conversion or the Company will re-pay the
      $150,000 plus accrued interest.





As
      part
      of the stock purchase agreement discussed under Change of Control in Note 1,
      this convertible note payable was assumed and repaid by AMMA
      Corporation.




F-12




ORGANETIX,
      INC.


(A
      Development Stage Company)





NOTES
      TO
      FINANCIAL STATEMENTS


DECEMBER
      31, 2006 AND 2005





NOTE
      6 -
      NOTE PAYABLE TO INDIVIDUAL:





In
      April
      2005, the Company borrowed $16,200 from an individual who is also a shareholder
      of the Company for working capital in order to continue operations. The loan
      was
      non-interest bearing, was unsecured and had no specific repayment date. As
      part
      of the stock purchase agreement discussed under Change of Control in Note 1,
      this convertible note payable was assumed by AMMA Corporation.





NOTE
      7 -
      RELATED PARTY TRANSACTIONS:





At
      December 31, 2005 the Company was indebted to the President, Chief Executive
      Officer and Director through his related companies for $161,480. This amount
      represented advances for working capital in order to continue operations. These
      advances were non-interest bearing, had no specific maturity date and were
      unsecured. As part of the stock purchase agreement discussed under Change of
      Control in Note 1, these liabilities were assumed by AMMA
      Corporation.





NOTE
      8 -
      INCOME TAXES:





Deferred
      tax assets and liabilities consist of the following:





December
                31,
              2006
            
            December
                31,
              2005Deferred
                tax asset- net operating loss carry forwards
            
            $
            985,000
            
            $
            675,000Less:
                valuation allowance
            
            
            (985,000
            )
            
            (675,000
            )Net
                deferred tax asset
            
            
            -
            
            
            -





At
      December 31, 2006 and 2005, the Company had approximately $3,800,000 and
      $2,700,000 respectively of net operating loss carry forwards available, expiring
      in years beginning in 2021. The Company has provided a 100% valuation allowance
      on the deferred tax assets at December 31, 2006 and 2005 to reduce such asset
      to
      zero, since there is no assurance that the Company will generate future taxable
      income to utilize such asset. Management reviews this valuation allowance
      requirement periodically and makes adjustments as warranted.





NOTE
      9 -
      ASSIGNMENT OF LICENSE AND CONSULTING AGREEMENTS:





License
      Agreement:





On
      July
      15, 2003, Amma Corporation, a privately held entity domiciled in Alberta,
      Canada, assigned all of its rights, title and interest in and to the A4+L
      compound as defined in a License Agreement, dated June 5, 2003, between Amma
      Corporation and Dr. Jose Cabanillas Coral, a Canadian resident and citizen
      of
      Peru, to the Company in exchange for 8,160,000 shares of Company common
      stock.





The
      A4+L
      compound (the "technology"), is a multiple plant formulation used for the relief
      of certain medical symptoms associated with Hepatitis C. This license granted
      the Company the exclusive right to use and sublicense the technology, and any
      improvements, and to research, manufacture, distribute and sell products
      throughout the world excluding Peru.





This
      40-year license also required that the Company pay a royalty equal to 3% of
      gross sales and sublicensing revenues to Dr. Cabanillas.




F-13




ORGANETIX,
      INC.


(A
      Development Stage Company)





NOTES
      TO
      FINANCIAL STATEMENTS


DECEMBER
      31, 2006 AND 2005





NOTE
      9 -
      ASSIGNMENT OF LICENSE AND CONSULTING AGREEMENTS (CONTINUED):





License
      Agreement (Continued):





As
      part
      of the stock purchase agreement discussed under Change of Control in Note 1,
      this licensing agreement was exchanged with Amma Corporation as part of the
      change of control.





Consulting
      Agreement:





Concurrently
      with the assignment of the license agreement described above, Amma Corporation
      also assigned its consulting agreement, dated June 1, 2001, with Dr. Cabanillas
      to the Company.





This
      agreement, which expired on June 1, 2006, required that Dr. Cabanillas provide
      general and research duties as requested, in exchange for a monthly fee of
      $12,000.





NOTE
      10 -
      SHAREHOLDERS' EQUITY:





The
      Company has authorized 150 million shares of common stock, par value $.0001
      per
      share.





The
      following shares, aggregating 64,000,000, were issued in connection with the
      share exchange agreement described in Note 1: (i) in May 2003, the Company
      issued 7,200,000 shares of common stock to its founders, at a per share price
      of
      $.01, for aggregate proceeds of $72,000, (ii) in June 2003, the Company began
      offering its common stock in a private offering of such securities and,
      generated proceeds of $160,000, for the sale of 640,000 shares of its common
      stock at a per share price of $.25; (iii) in July 2003, the Company issued
      8,160,000 shares of its common stock in connection with the assignment of a
      license agreement (see Note 9). These shares were deemed to have a fair value
      of
      $.25 per share at the time of issuance, and in November 2003, the Company issued
      an additional 48 million shares pursuant to the share exchange
      agreement.





In
      2004,
      the Company declared and paid a 10% stock dividend to all shareholders,
      excluding the majority shareholder, AMMA Corporation, issuing 3,017,584 shares
      of its common stock in connection therewith. The Company also received $479,866
      in proceeds from the sales of 5,439,990 shares of its common stock. In partial
      payment for legal services received, the Company issued 142,857 shares of common
      stock valued at $10,000. In connection with the reverse merger with Diamond
      International, Inc., Sylvio Martini, the majority shareholder at the time,
      agreed to pay certain expenses of the Company from the shares retained by him.
      Such shares were placed in escrow and during the year, 2,500,000 shares were
      sold and transferred to 20 persons generating $500,000 of proceeds, which were
      then contributed to the Company as additional paid-in capital. Mr. Martini
      also
      transferred certain escrowed shares to consultants as payment for services
      provided to the Company. The value of these shares, $131,970, was recorded
      as
      additional paid-in capital.





On
      January 2, 2004, the majority shareholder approved the adoption of the 2004
      Omnibus Stock Option Plan under which 5,000,000 shares of Company common stock
      were reserved for issuance. To date, no options have been granted under this
      plan.





During
      the year ended December 31, 2005, in connection with the reverse merger with
      Diamond International, Inc. in 2003, Sylvio Martini, the majority shareholder
      at
      the time, agreed to pay certain expenses of the Company from the shares retained
      by him. Such shares were placed in escrow and during the twelve months ending
      December 31, 2005, 620,000 shares were issued to 7 persons for services rendered
      for a total of $124,000 of proceeds, which were then contributed to the Company
      as additional paid-in capital.




F-14




ORGANETIX,
      INC.


(A
      Development Stage Company)





NOTES
      TO
      FINANCIAL STATEMENTS


DECEMBER
      31, 2006 AND 2005





NOTE
      10 -
      SHAREHOLDERS' EQUITY (CONTINUED):





In
      July
      2005, 150,000 shares of common stock valued at $22,485 were issued in connection
      with a bridge note (see Note 3). In August 2005, 470,000 shares of common stock
      valued at $65,853 were issued for services rendered to the Company. In November
      2005, 800,000 shares of common stock value at $39,920 were issued for services
      rendered to the Company.





As
      part
      of the stock purchase agreement discussed under Change of Control in Note 1,
      the
      Company cancelled 23,400,040 shares of common stock.





During
      2006, the Company received $25,000 in contributed legal services.





NOTE
      11 -
      COMMITTMENTS:





Lease:





Office
      space is also provided in New York by the Company's attorneys, at no cost.





Employment
      Agreements:





On
      January 2, 2004, the Company entered into an Employment Agreement with Mr.
      L. B.
      (Brad) Clarke as a "senior executive" (the "Employment Agreement"). The
      Employment Agreement was for a 3-year term and provided for annual salaries
      of
      $120,000 for 2004, $180,000 for 2005 and $240,000 for 2006. Other remuneration
      under the Employment Agreement is a $700 per month automobile allowance and
      30
      days paid vacation. The Employment Agreement may be terminated for "cause".
      All
      salaries and the automobile allowance have been accrued as payable but not
      paid.
      As part of the stock purchase agreement discussed under Change of Control in
      Note 1, these liabilities were assumed by AMMA Corporation.





NOTE
      12-
      AGREEMENT WITH VOLIUS, INC.





On
      September 26, 2006, the Company entered into a letter of intent with Volius,
      Inc. ("Volius") to acquire all of Volius' assets in exchange for 50.5% of the
      company's shares of common stock or approximately 63,511,270 shares.
      Contemporaneous with the effectiveness of the merger, the Company was required
      to raise between $4 and $6 million dollars to fund the operations of the newly
      merged company on mutually agreeable terms.





NOTE
      13-
      SUBSEQUENT EVENTS





On
      January 18, 2007, the Company terminated its Letter of Intent to merge with
      Volius because the Company and Volius could not agree on the amount of capital
      to be raised, the valuation of Volius, and the timing of the ultimate
      transaction.







On
      January 24, 2007, Organetix executed a definitive agreement to acquire
      ADAO.  ADAO is a telephony engineering and design firm specializing in the
      development of cellular technologies that target the low-end user market
      segment.  The transaction is expected to close in the 2 nd calendar
      quarter of 2007 (“Closing”). The Company is required to invest an aggregate of
      $300,000 in ADAO prior to the closing, which shall be used specifically to
      develop a prototype to be owned by the Company. Upon successful completion
      of
      the prototype
      and other conditions in the proposed exchange transaction, at Closing, the
      Company shall issue 73,500,000 ($.0001 par value per share) restricted shares
      of
      common stock of the Company equal to 53.5% of the outstanding shares of common
      stock to the shareholders of ADAO. As
      further consideration, the Company has agreed that, subsequent to Closing,
      it
      will increase its authorized number of shares of common stock from
      150,000,000 to 300,000,000 and change its name to ADAO Wireless,
      Inc. ADAO
      will then receive an additional 17,000,000 shares of the Company’s common stock.




F-15




ORGANETIX,
      INC.


(A
      Development Stage Company)





NOTES
      TO
      FINANCIAL STATEMENTS


DECEMBER
      31, 2006 AND 2005





NOTE
      13-
      SUBSEQUENT EVENTS (CONTINUED)




On
      February 15, 2007, Organetix entered into non-exclusive agreements with
      Ambassador Thomas Graham, Jr., Mr. David Lewis and Mr. Aaron Foley to serve
      on
      the Company’s Board of Advisors. However, subsequent to that date, Ambassador
      Graham and the Company mutually agreed to terminate that agreement and as a
      result Ambassador Graham does not serve on the Company’s Board of Advisors.
      Thus, the Company’s Board of Advisors consists of Messrs. Lewis and Foley
      and each shall serve until the earlier of February 15, 2009 or the date that
      either Advisor is removed from the Board. As compensation for participation
      on
      the Board of Advisors, each member received 500,000 shares of the Company’s
      common stock.




F-16




**ITEM
      8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
      DISCLOSURE**





Our
      accountants are Meyler & Company, independent certified public accountants.
      At no time has there been any disagreement with such accountants regarding
      any
      matter of accounting principles or practices, financial statement disclosure,
      or
      auditing scope or procedure.




**ITEM
      8A. DISCLOSURE CONTROLS AND PROCEDURES**





(a)
      Disclosure Controls and Procedures.





As
      of the
      end of the period covering this Form 10-KSB, we evaluated the effectiveness
      of
      the design and operation of our "disclosure controls and procedures". The
      Company’s President conducted this evaluation by himself.





(i)
      Definition of Disclosure Controls and Procedures.





Disclosure
      controls and procedures are controls and other procedures that are designed
      with
      the objective of ensuring that information required to be disclosed in our
      periodic reports filed under the Exchange Act, such as this report,
      is recorded, processed, summarized and reported within the time periods
      specified in the SEC's rules and forms. As defined by the SEC, such disclosure
      controls and procedures are also designed with the objective of ensuring that
      such information is accumulated and communicated to our management, including
      the President and Chief Financial Officer, in such a manner as to allow timely
      disclosure decisions.





(ii)
      Limitations on the Effectiveness of Disclosure Controls and Procedures and
      Internal Controls.





The
      Company recognizes that a system of disclosure controls and procedures (as
      well
      as a system of internal controls), no matter how well conceived and operated,
      cannot provide absolute assurance that the objectives of the system are met.
      Further, the design of such a system must reflect the fact that there are
      resource constraints, and the benefits of controls must be considered relative
      to their costs. Because of the inherent limitations in all control systems,
      no evaluation of controls can provide absolute assurance that all control issues
      have been detected. These inherent limitations include the realities that
      judgments in decision-making can be faulty, and that breakdowns can
      occur
      because of simple error or mistake. Additionally, controls can be circumvented
      in a number of ways. Because of the inherent limitations in a cost-effective
      control system, system failures may occur and not be detected. However,
      our sole officer and director believes that our system of disclosure controls
      and procedures provides reasonable assurance of achieving their
      objectives.





(iii)
      Conclusions with Respect to Our Evaluation of Disclosure Controls and
      Procedures.





Our
      sole
      officer and director has concluded, based on the evaluation of these controls
      and procedures, that our disclosure controls and procedures are effective in
      timely alerting them to material information relating to the Company required
      to
      be included in our periodic SEC filings.





(b)
      Changes in Internal Controls.





There
      have been no changes in our internal controls over financial reporting during
      the last fiscal quarter of 2004 that has materially affected or is reasonably
      likely to affect the Company's internal control over financial
      reporting.





**ITEM
      8B. OTHER INFORMATION**





Not
      applicable.




6


**PART
      III**





**ITEM
      9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE
      WITH
      SECTION 16(A) OF THE EXCHANGE ACT**





**OFFICERS
      AND DIRECTORS**





Dr.
      David
      F. Hostelley, 67 years old, is the sole officer and director of the Company
      serving as our Chairman of the board of directors and President. The Company's
      directors are elected at each Annual Meeting of Shareholders.





The
      following is a biographical summary of the directors and officers of the
      Company:





**Dr.
      David F. Hostelley, Chairman of the Board, President & CEO &
Secretary**




Dr.
      Hostelley has served as our Chairman of the Board and President since August
      16,
      2006. Dr. Hostelley is a Certified Public Accountant licensed in the states
      of
      Ohio and New York. In 1984 he earned his Ph.D. in management while a lecturer
      in
      the MBA Program of Baldwin-Wallace College. He currently lectures in Accounting
      and Management for Myers University, Cleveland, Ohio.





**Director
      Positions in Other Public Companies**





No
      director holds any directorship in a company with a class of securities
      registered pursuant to Section 12 of the Securities Exchange Act of 1934 or
      subject to the requirements of Section 15(d) of such Act. No director holds
      any
      directorship in a company registered as an investment company under the
      Investment Company Act of 1940.





**Code
      of Conduct**





As
      the
      Board of Directors only has one director and the Company one employee and 8
      consultants, no Audit or Strategy Committee has been established. The Company
      does not have a standing nominating committee or any committee performing a
      similar function. For the above reasons, the Company has not adopted a code
      of
      ethics.





**COMPLIANCE
      WITH SECTION 16(a) OF THE**


**SECURITIES
      EXCHANGE ACT OF 1934**





Section
      16(a) of the Securities Exchange Act of 1934 requires executive officers and
      directors who beneficially own more than ten percent (10%) of the Company's
      Common Stock to file initial reports of ownership and reports of changes of
      ownership with the Securities and Exchange Commission. Executive officers,
      directors and greater than ten percent (10%) beneficial owners are required
      by
      Commission regulations to furnish the Company with copies of all Section 16(a)
      forms they file.





The
      Company believes that Amma Corporation complied with the Section 16(a) filing
      requirements during and with respect to the fiscal year ended December 31,
      2005.


**ITEM
      10. EXECUTIVE COMPENSATION**





The
      table
      below sets forth all annual and long-term compensation paid by the Company
      through the latest practicable date to the President of the Company and to
      all
      executive officers of the Company who received total annual salary and bonus
      in
      excess of $100,000 for services rendered in all capacities to the Company and
      its subsidiaries during the fiscal years ended December 31, 2005 and 2006,
      respectively.




7




Summary
      Compensation Table


**Long-Term**
                **Compensation**
                **Awards**
              
              **Securities**
                  **Underlying**
                  **Options**
              
              **All
                  Other****Name
                  and Principal Position**
              
              **Year**
              
              **Salary**
              
              **Bonus**
              
              **(#)
                  /SARS**
              
              **Compensation**L.
                  B. (Brad) Clarke -
                Chairman
                  of the Board, Chief Executive Officer, President, Chief Executive
                  Officer
                  and Secretary1
              
              
              2005
              
              
              180,000
              
              
              
              
              
              
              
              
              7,000Robert
                  C. Howell - Executive Vice President & Chief Financial
                  Officer1
              
              
              2005
              
              
              60,000
              
              
              0
              
              
              0
              
              
              0Dr.
                  Jose Cabanillas - Executive Vice President - Research &
                  Development1
              
              
              2005
              
              
              144,000
              
              
              0
              
              
              0
              
              
              0John
                  Garcia - Executive Vice President Corporate Development1
              
              
              2005
              
              
              60,000
              
              
              0
              
              
              0Dr.
                  David F Hostelley -
                Chairman
                  of the Board and President
              
              
              2006
              
              
              0
              
              
              0
              
              
              0
              
              
              0





1  Resigned
      in August 2006.





**Director’s
      Compensation**





During
      the fiscal year ended December 31, 2006 no fees were paid to our
      Director.





**Employment
      Contracts**





None.





**ITEM
      11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT**





**Security
      Ownership of Certain Beneficial Owners**





The
      following table sets forth information regarding the beneficial ownership of
      the
      shares of the Common Stock (the only class of shares previously issued by the
      Company) at April 27, 2006, by (i) each person known by the Company to be the
      beneficial owner of more than five percent (5%) of the Company’s outstanding
      shares of Common Stock, (ii) each director of the Company, (iii) the executive
      officers of the Company, and (iv) by all directors and executive officers of
      the
      Company as a group.





Title
                of Class
            
            Name
                of Beneficial Owner
            
            Shares
                of Common Stock
            
            Percent
                of ClassCommon
            
            Dr.
                David F. Hostelley
            
            0
            
            0
            %





8





**ITEM
      12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS** **CERTAIN
      RELATIONSHIPS AND RELATED TRANSACTIONS**




None.





**ITEM
      13. EXHIBITS AND REPORTS ON FORM 8-K**




(a)
      Exhibits.




Exhibit
      Number Exhibit Description





31.1  Certification
      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act
      of
      2002




31.2  Certification
      of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act
      of
      2002




32.1  Certification
      of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act
      of
      2002




32.2  Certification
      of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley
      Act
      of 2002





(b)
      Reports on Form 8-K.




On
      April
      10, 2006, the Company retained Meyler & Company CPA as its independent
      accountants and informed Lazar Levine & Felix LLP (“Lazar”) its previous
      independent accountants, that it was no longer using their services. There
      were
      no disagreements with Lazar on any matter of accounting principals or practices,
      financial statement disclosure, or auditing scope or procedure.




On
      August
      18, 2006, AMMA Corporation and other shareholders (collectively, "Sellers")
      of
      the Company entered into a stock purchase agreement with various purchasers
      ("Stock Purchase Agreement"), whereby the Sellers sold 51,546,000 shares of
      the
      Company's common stock ("Shares"). In exchange for (i) cash and (ii) an
      assignment of certain assets of the Company, the Company did not receive any
      sales proceeds or other consideration in connection with this
      transaction.




On
      September 26, 2006, the Company entered into a letter of intent with Volius,
      Inc. ("Volius") to acquire all of Volius' assets in exchange for 50.5% of the
      company's shares of common stock or approximately 63,511,270 shares ("Merger").




On
      January 24, 2007, the Company executed a definitive agreement to acquire ADAO
      Telecom, Inc., a Florida based and privately held corporation (“ADAO”). ADAO, a
      telephony engineering and designs firm, specializes in the development of
      cellular technologies that target the low-end user market segment. In exchange
      for all of the shares of ADAO, the Company shall issue to the shareholders
      of
      ADAO 73,500,000 ($0.0001 par value per share) restricted shares of the Company’s
      common stock equal to 53.3% of the outstanding shares. Pursuant to the
      agreement, the Company is to transfer $300,000 to ADAO, which is to be earmarked
      for the development of a prototype to be owned by the Company. We expect this
      transaction to close as soon as the 2 nd calendar
      quarter of 2007, but no later than May 30, 2007 (“Closing”). As
      further consideration, the Company has agreed that, subsequent to Closing,
      it
      will increase its authorized number of shares of common stock from
      150,000,000 to 300,000,000 and change its name to ADAO Wireless,
      Inc. At
      that time, ADAO will receive an additional 17,000,000 shares of the Company’s
      common stock. It is further agreed that subsequent to the Company raising its
      authorized shares, agents of the Company will make their best efforts to raise
      between $3,500,000 and $4,500,000 prior to June 15, 2007.




During
      discussions with Volius, Inc. (“Volius”), it became apparent to both Volius and
      the Company that it would be difficult, if not impossible, to agree on the
      amount of capital to be raised, the valuation of Volius and the timing of the
      ultimate transaction. Also during that period, the Company was introduced to
      ADAO and concluded that ADAO was a better fit with shareholders' goals of
      acquiring a business with dynamic opportunities. On January 18, 2007, the
      Company terminated its Letter of Intent to merge with Volius.




On
      February 15, 2007, Organetix entered into non-exclusive agreements with
      Ambassador Thomas Graham, Jr., Mr. David Lewis and Mr. Aaron Foley to serve
      on
      the Company’s Board of Advisors. All shall serve as Advisors until the earlier
      of February 15, 2009 or the date that any Advisor is removed from the Board.
      Ambassador Graham will serve as Chairman of the Board of Advisors. As
      compensation for participation on the Board of Advisors, Ambassador Graham
      received 2,000,000 shares of the Company’s common stock and Messrs. Lewis and
      Foley each received 500,000 shares of the Company’s common stock.




9




**ITEM
      14. PRINCIPAL ACCOUNTANT FEES AND SERVICES**





Audit
      Fees





For
      the
      Company's fiscal year ended December 31, 2006, the cost for professional
      services rendered for the audit of our financial statements and the review
      of
      the Form 10-KSB aggregated approximately $12,500.





All
      Other
      Fees





The
      Company did not incur any other fees related to services rendered by our
      principal accountant for the fiscal year ended December 31, 2006.




**SIGNATURES**




In
      accordance with Section 13 or 15(d) of the Exchange Act, the registrant has
      duly
      caused this report to be signed on its behalf by the undersigned, thereunto
      duly
      authorized.




**ORGANETIX,
                INC.**/s/
                Dr. David F. HostelleyName:
                Dr. David F. HostelleyTitle:
                PresidentDate:
                May 1, 2007





10