**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**FORM      10−QSB**

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| New                York                                                                     |   | 13-3303290                                 |
|---------------------------------------------------------------------------------------------|--------|-------------------------------------------------|
| (State                or other jurisdiction of incorporated or                organization) |   | (IRS                Employer Identification No. |

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|--------|

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|--------|

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**APPLICABLE      ONLY TO ISSUERS INVOLVED IN BANKRUPTCY **

**PROCEEDINGS      DURING THE PRECDEING FIVE YEARS**

**APPLICABLE      ONLY TO CORPORATE ISSUERS **

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**PART      I - FINANCIAL INFORMATION**

**ITEM      1. FINANCIAL STATEMENTS.**

**CYBRA      CORPORATION**

**CONTENTS**

|                                                          |   | **Page**                   |
|---------------------------------------------------------------|--------|----------------------------|
|                                                          |   |                       |
| FINANCIAL                  STATEMENTS                         |   | F-1                        |
|                                                          |   |                       |
| BALANCE                  SHEET                                |   | F-2                        |
|                                                          |   |                       |
| CONDENSED                  STATEMENTS OF OPERATIONS           |   | F-3                        |
|                                                          |   |                       |
| STATEMENTS                  OF STOCKHOLDERS’ DEFICIENCY |   | F-4                        |
|                                                          |   |                       |
| STATEMENTS                  OF CASH FLOWS                     |   | F-5                        |
|                                                          |   |                       |
| NOTES                  TO FINANCIAL STATEMENTS                |   | F-6                  - F-8 |

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|  ASSETS                                                                                   |   |   |       |
|-----------------------------------------------------------------------------------------------------|--------|--------|------------|
| CURRENT                ASSETS                                                                       |   |   |       |
|                      Cash and cash equivalents                             |   | $      | 754,839    |   |
|                      Accounts receivable, less allowance for doubtful      |   |   |       |   |
|                         accounts of $5,000 in 2006 and 2005 |   |   | 229,689    |   |
|                                                                                                |   |   |       |   |
|                      Deferred income taxes                                 |   |   | 71,251     |   |
| Total                Current Assets                                                                 |   |   | 1,055,779  |   |
|                                                                                                |   |   |       |   |
| PROPERTY                AND EQUIPMENT, at cost, less accumulated                                    |   |   |       |   |
|                       depreciation and amortization                   |   |   | 65,706     |   |
|                                                                                                |   |   |            |   |
| DEFERRED                INCOME TAXES                                                                |   |   | 778,054    |   |
| DEFERRED                FINANCE COSTS                                                               |   |   | 549,053    |   |
| SECURITY                DEPOSITS AND OTHER                                                          |   |   | 11,419     |   |
|  TOTAL                ASSETS                                                                   |   | $      | 2,460,011  |   |
|                                                                                                |   |   |            |   |
| LIABILITIES                AND STOCKHOLDERS' DEFICIENCY                                             |   |   |            |   |
|                                                                                                |   |   |            |   |
| CURRENT                LIABILITIES                                                                  |   |   |            |   |
| Accounts                payable and accrued expenses                                                |   | $      | 315,002    |   |
| Accrued                interest                                                                     |   |   | 188,591    |   |
| Deferred                revenue                                                                     |   |   | 264,301    |   |
| Accrued                liquidated damages - registration rights agreement                           |   |   | 110,000    |   |
| Total                Current Liabilities                                                            |   |   | 877,894    |   |
|                                                                                                |   |   |       |   |
| 8%                CONVERTIBLE DEBENTURES                                                            |   |   | 1,973,366  |   |
|                                                                                                |   |   |       |   |
| TOTAL              LIABILITIES                                                                      |   |   | 2,851,260  |   |
|                                                                                                |   |   |            |   |
| COMMITMENT                AND LITIGATION                                                            |   |   |            |   |
|                                                                                                |   |   |            |   |
| STOCKHOLDERS'                DEFICIENCY                                                             |   |   |            |   |
| Common                stock, no par value, 100,000,000 shares authorized;                           |   |   | 234,545    |   |
| 11,072,100                shares issued and outstanding                                             |   |   |       |   |
| Stock                subscription receivable                                                        |   |   | (1,826     | ) |
| Paid                - in capital                                                                    |   |   | 564,254    |   |
| Accumulated                deficit                                                                  |   |   | (1,188,222 | ) |
|                                                                                                |   |   |       |   |
|                    Total Stockholders' Deficiency                                    |   |   | (391,249   | ) |
| TOTAL              LIABILITIES AND STOCKHOLDERS DEFICIENCY                                          |   | $      | 2,460,011  |   |

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|                                                                                                  |   | **Three                months ended March 31,** |       |
|-------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------|------------|
|                                                                                                  |   | **2007**                                             |       | **2006** |   |
|                                                                                                  |   |                                                 |       |   |   |
|                                                                                                  |   |                                                 |       |   |   |
| REVENUES                                                                                              |   | $                                                    | 368,247    |   | $ | 395,334 |   |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| DIRECT                COSTS                                                                           |   |                                                 |       |   |   |   |   |
| Costs                of goods sold                                                                    |   |                                                 | 109,156    |   |   | 103,956 |   |
| Royalties                and consulting                                                               |   |                                                 | 87,500     |   |   | 10,962 |   |
|                                                                                                  |   |                                                 |       |   |   |   |   |
|                                                                                                  |   |                                                 | 196,656    |   |   | 114,918 |   |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| GROSS                MARGIN                                                                           |   |                                                 | 171,591    |   |   | 280,416 |   |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| GENERAL                AND ADMINISTRATIVE EXPENSES                                                    |   |                                                 | 601,979    |   |   | 347,675 |   |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| LOSS                FROM OPERATIONS                                                                   |   |                                                 | (430,388   | ) |   | (67,259 | ) |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| OTHER                INCOME (EXPENSE)                                                                 |   |                                                 |       |   |   |   |   |
| Interest                expense, 2006 includes $66,735 of amorization of deferred                cost |   |                                                 | (135,811   | ) |   | (1,574 | ) |
| Interest                income                                                                        |   |                                                 | 8,765      |   |   | 38 |   |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| Total                Other Income (Expenses)                                                          |   |                                                 | (127,046   | ) |   | (1,536 | ) |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| LOSS                BEFORE INCOME TAXES                                                               |   |                                                 | (557,434   | ) |   | (68,795 | ) |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| INCOME                TAX RECOVERY                                                                    |   |                                                 | (208,794   | ) |   | (25,422 | ) |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| NET                LOSS                                                                               |   | $                                                    | (348,640   | ) | $ | (43,373 | ) |
|                                                                                                  |   |                                                 |       |   |   |   |   |
| PER                SHARE DATA                                                                         |   |                                                 |       |   |   |   |   |
| Basic                and diluted net loss per share                                                   |   | $                                                    | (0.03      | ) | $ | (0.00 | ) |
|                                                                                                  |   |                                                 |            |   |   |  |   |
| Basic                and diluted weighted-average shares outstanding                                  |   |                                                 | 10,455,726 |   |   | 9,118,718 |   |

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|                                                    |   | Common                Stock |       |  Additional                paid-in- |   | Stock                Subscription |   | Accumulated  |    |    |   |   |
|---------------------------------------------------------|--------|-----------------------------|------------|------------------------------------------|--------|-----------------------------------|--------|--------------|---------|---------|--------|--------|
|                                                    |   | Shares                      |       |  Amount                             |   | Capital                           |   | Receivable   |    | deficit |   |   | Total |   |
|                                                    |   |                        |       |                                     |   |                              |   |    |    |    |   |   |   |   |
| Balance                at December 31, 2006             |   |                        | 10,956,000 |                                     | $      | 176,495                           |   | $            | 12,344  |    | $      | (1,826 | ) | $ | (839,582 | ) |   | $ | (652,569 | ) |
|                                                    |   |                        |            |                                     |   |                              |   |         |         |    |   |        |   |   |  |   |   |   |  |   |
| Common                stock issuance                    |   |                        | 116,100    |                                     |   | 58,050                            |   |         | -       |    |   | -      |   |   | - |   |   |   | 58,050 |   |
|                                                    |   |                        |            |                                     |   |                              |   |         |         |    |   |        |   |   |  |   |   |   |  |   |
| Derivative                instruments converted in APIC |   |                        | -          |                                     |   | -                                 |   |         | 551,900 |    |   | -      |   |   | - |   |   |   | 551,910 |   |
|                                                    |   |                        |            |                                     |   |                              |   |         |         |    |   |        |   |   |  |   |   |   |  |   |
| Net                loss for the period                  |   |                        | -          |                                     |   | -                                 |   |         | -       |    |   | -      |   |   | (348,640 | ) |   |   | (348,640 | ) |
|                                                    |   |                        |            |                                     |   |                              |   |         |         |    |   |        |   |   |  |   |   |   |  |   |
| Balance                at March 31, 2007                |   |                        | 11,072,100 |                                     | $      | 234,545                           |   | $            | 564,254 |    | $      | (1,826 | ) | $ | (1,188,222 | ) |   | $  | (391,249 | ) |
|                                                    |   |                        |            |                                     |   |                              |   |         |         |    |   |        |   |   |  |   |   |   |  |   |
| Balance                at December 31, 2005             |   |                        | 9,130,000  |                                     | $      | 1,800                             |   |         | 12,344  |    |   | -      |   |   | (343,920 | ) |   |   | (329,776 | ) |
|                                                    |   |                        |            |                                     |   |                              |   |         |         |    |   |        |   |   |  |   |   |   |  |   |
| Net                loss for the period                  |   |                        | -          |                                     |   | -                                 |   |         | -       |    |   | -      |   |   | (43,373 | ) |   |   | (43,373 | ) |
| -                                                       |   |                        |            |                                     |   |                              |   |         |         |    |   |        |   |   |  |   |   |   |  |   |
| Balance                at March 31, 2006                |   |                        | 9,130,000  |                                     | $      | 1,800                             |   | $            | 12,344  |    | $      | -      |   | $ | (387,293 | ) |   | $ | (373,149 | ) |

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|                                                                                                                                                                                                                |   | Three                Months ended |      |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|-----------|
|                                                                                                                                                                                                                |   | March                31,     |      |
|                                                                                                                                                                                                                |   | 2007                              |      | 2006 |   |
| CASH                FLOWS FROM OPERATING ACTIVITIES                                                                                                                                                                 |   |                              |      |   |   |
| Net                loss                                                                                                                                                                                             |   | $                                 | (348,640  | ) | $ | (43,373 | ) |
| Adjustments                to reconcile net loss to net cash                                                                                                                                                        |   |                              |      |   |   |   |   |
| (used                in) operating activities                                                                                                                                                                       |   |                              |      |   |   |   |   |
| Depreciation                                                                                                                                                                                                        |   |                              | 6,557     |   |   | 4,209 |   |
| Deferred                income tax recovery                                                                                                                                                                         |   |                              | (208,794  | ) |   | (25,422 | ) |
| Interest                expense - amortization of debt discount                                                                                                                                                     |   |                              | 55,212    |   |   | - |   |
| Amortization                of deferred finance cost                                                                                                                                                                |   |                              | 30,599    |   |   | - |   |
| Change                in:                                                                                                                                                                                           |   |                              |      |   |   |   |   |
| Accounts                receivable                                                                                                                                                                                  |   |                              | 45,117    |   |   | 80,803 |   |
| Prepaid                corporate taxes/corporate taxes payable                                                                                                                                                      |   |                              | 95        |   |   | - |   |
| Security                deposits and other assets                                                                                                                                                                   |   |                              | (38       | ) |   | (38 | ) |
| Accounts                payable and accrued expenses                                                                                                                                                                |   |                              | 66,376    |   |   | (44,024 | ) |
| Accrued                interest                                                                                                                                                                                     |   |                              | 38,218    |   |   | - |   |
| Deferred                revenue                                                                                                                                                                                     |   |                              | 7,157     |   |   | 2,745 |   |
| Sales                tax payable                                                                                                                                                                                    |   |                              | (980      | ) |   | (2,128 | ) |
|                                                                                                                                                                                                                |   |                              |      |   |   |   |   |
|                                      Net Cash Used In Operating Activities                                 |   |                              | (309,121  | ) |   | (27,228 | ) |
|                                                                                                                                                                                                                |   |                              |      |   |   |   |   |
| CASH                FLOWS FROM INVESTING ACTIVITIES                                                                                                                                                                 |   |                              |      |   |   |   |   |
|                                     Acquisition of property and equipment                                       |   |                              | (7,460    | ) |   | (6,210 | ) |
|                                                                                                                                                                                                                |   |                              |      |   |   |   |   |
|                                          Net Cash Used in Investing Activities         |   |                              | (7,460    | ) |   | (6,210 | ) |
|                                                                                                                                                                                                                |   |                              |      |   |   |   |   |
| CASH                FLOWS FROM FINANCING ACTIVITIES                                                                                                                                                                 |   |                              |      |   |   |   |   |
| Proceeds                from loan payable - bank                                                                                                                                                                    |   |                              | -         |   |   | 54,100 |   |
| Repayments                of loan payable - bank                                                                                                                                                                    |   |                              | -         |   |   | (38,509 | ) |
| Proceeds                from loan payable                                                                                                                                                                           |   |                              | -         |   |   | 20,000 |   |
| Repayment                of loan payable                                                                                                                                                                            |   |                              | (250,000  | ) |   | - |   |
| Proceeds                from sale of common stock - 116,100 shares                                                                                                                                                  |   |                              | 58,050    |   |   | - |   |
|                                                                                                                                                                                                                |   |                              |      |   |   |   |   |
|                                         Net Cash Provided by (Used In) Financing Activities |   |                              | (191,950  | ) |   | 35,591 |   |
|                                                                                                                                                                                                                |   |                              |      |   |   |   |   |
| (DECREASE)                INCREASE IN CASH AND CASH EQUIVALENTS                                                                                                                                                     |   |                              | (508,531  | ) |   | 2,153 |   |
|                                                                                                                                                                                                                |   |                              |      |   |   |   |   |
| CASH                AND CASH EQUIVALENTS                                                                                                                                                                            |   |                              |      |   |   |   |   |
|                                   Beginning of period                                                                     |   |                              | 1,263,370 |   |   | 10,859 |   |
|                                                                                                                                                                                                                |   |                              |      |   |   |   |   |
|                                  End of period                                                                                 |   | $                                 | 754,839   |   | $ | 13,012 |   |
|                                                                                                                                                                                                                |   |                              |      |   |   |  |   |
| SUPPLEMENTAL                DISCLOSURES OF CASH FLOW INFORMATION:                                                                                                                                                   |   |                              |      |   |   |  |   |
|                                  Cash paid during the year for:                                                                |   |                              |      |   |   |  |   |
|                                       Interest                                                        |   | $                                 | 69,076    |   | $ | $                1,574 |   |
|                                                                                                                                                                                                                |   |                              |      |   |   |  |   |
|                                  Income taxes                                                                                  |   | $                                 | -         |   | $ | - |   |

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*      Accounting for Derivative Instruments and Hedging Activities*
*      Accounting for Derivative Financial Instruments Indexed to and Potentially      Settled In, a Company's Own Stock*
*      The      Effect of a Liquidated Damages Clause on a Freestanding Financial Instrument      Subject to Issue No. 00-19*
*      The      Meaning of “Conventional Convertible Debt Instrument” in Issue No.      00-19*

| 4. | 8%                  CONVERTIBLE DEBENTURES AND DERIVATIVE FINANCIAL                  INSTRUMENTS |
|----|--------------------------------------------------------------------------------------------------|

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| 5. | STOCKHOLDERS                  DEFICIENCY |
|----|------------------------------------------|

| 6. | COMMITMENT                AND LITIGATION |
|----|------------------------------------------|

| 2007   |   | $      | 77,000  |   |
|--------|--------|--------|---------|--------|
| 2008   |   |   | 77,250  |   |
| 2009   |   |   | 77,250  |   |
| 2010   |   |   | 6,438   |   |
|   |   | $      | 237,938 |   |

| 7. | EARNINGS                  PER SHARE |
|----|-------------------------------------|

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**ITEM      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF      OPERATION**

**OFF-BALANCE      SHEET ARRANGEMENTS**

**OVERVIEW**

**RESULTS      OF OPERATIONS**

**Critical      accounting policies**

**Impact      of Recently Issued Accounting Pronouncements**

**THREE      MONTHS ENDED MARCH 31, 2007 COMPARED TO THE THREE MONTHS ENDED MARCH 31,      2006.**

**RESULTS      OF OPERATIONS**

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**Operating      Revenues**

**Cost      of Sales and Gross Margin**

**General      and Administrative Costs**

**Provision      for Income Taxes**

**Liquidity      and Capital Resources**

**Capital      Commitments**

**Trends**

**Changes      in income elements**

**Material      changes in our financial statements**

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**Seasonal      Fluctuations**

**ITEM      3. CONTROLS AND PROCEDURES**

*Evaluation      of Disclosure Controls and Procedures*

*Changes      in Internal Control over Financial Reporting.*

*Limitations      on the Effectiveness of Controls.*

**PART      II**

**ITEM      1. LEGAL PROCEEDINGS**

A      complaint was filed against the Company and its CEO on December 28, 2006 in      Magistrate’s court in Herliya, Israel by Raz-Lee Security Ltd., a former      distributor of the Company’s products (Case No. 8443/06). The action seeks      $50,000 in damages for alleged unpaid license fees. The Company has filed a      motion to dismiss the case on jurisdictional grounds, which is pending with      the      court. The Company believes that it has meritorious defenses to this lawsuit,      as      well as counterclaims against the plaintiff, and intends to vigorously defend      this action. The Company is not party to any other pending or threatened legal      proceedings.

**ITEM      2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF      PROCEEDS**

**ITEM      3. DEFAULTS UPON SENIOR SECURITIES**

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

**ITEM      5. OTHER INFORMATION**

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**ITEM      6. EXHIBITS**

| **Exhibit                No.** | **Exhibit                Description**                        |
|--------------------------------|---------------------------------------------------------------|
| 31.1                           | Section                302 Sarbanes Oxley Certification - CEO |
| 31.2                           | Section                302 Sarbanes Oxley Certification - CFO |
| 32.1                           | Section                906 Sarbanes Oxley Certification - CEO |
| 32.2                           | Section                906 Sarbanes Oxley Certification - CFO |

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**SIGNATURES**

|                            |                                                                                                                |                          |
|---------------------------------|---------------------------------------------------------------------------------------------------------------------|-------------------------------|
|                            | CYBRA                CORPORATION(Registrant)                                                                        |
|                       |                                                                                                           |                     |
| Date:              May 14, 2007 | By:                                                                                                       | /s/              Harold Brand |
|                            |                                                                                                                     |
|                            | Harold                BrandChief                Financial Officer andInterim                Chief Financial Officer |

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