U.S. SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C. 20549

                                     FORM 10-KSB/A

(Mark One)
[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005

                                         OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM
______________ TO ______________

                          COMMISSION FILE NUMBER: 0-30639

                                  WORLD AM, INC.
             (Exact Name of Company as Specified in its Charter)

                 Nevada                                     90-0142757
(State or Other Jurisdiction of Incorporation             (I.R.S. Employer
              or Organization)                            Identification No.)

  4040 MacArthur Boulevard, Suite 240, Newport Beach, California    92660
            (Address of Principal Executive Offices)              (Zip Code)

                  Company's telephone number:  (949) 955-5355

       Securities registered pursuant to Section 12(b) of the Act: None
      Securities registered pursuant to Section 12(g) of the Act: Common
                           stock, $0.0001 par value

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

     Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-B is not contained herein, and
will not be contained, to the best of Company'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 [  ].

     Indicate by check mark if the Company is required to file reports
pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934.  Yes    X       No          .

     Indicate by check mark whether the Company is a shell company (as
defined in Rule 12b-2 of the Securities Exchange Act of 1934): Yes  No  X .

     The Company had revenues of $212,772 for the period ended on
December 31, 2005.  The aggregate market value of the voting stock
held by non-affiliates of the Company as of May 1, 2006: $1,684,771.
As of May 1, 2006, the Company had 171,041,035 (1) shares of common
stock issued and outstanding.

     Transitional Small Business Disclosure Format (check one): Yes  No    X .

(1)  Adjusted for a one for one hundred reverse split effective on
January 21, 2005, and a three for two stock dividend effective on
August 15, 2005.

     The Company, by this Form 10-KSB/A, amends the following: (a) Part II,
Item 5, to add disclosure about options incorrectly previously
reported; (b) Part III, Item 11, to correct a typographical error in
the number of shares underlying the option held by James Alexander as
of May 1, 2006 (and the percentage ownership) in the ownership chart;
(c) Part III, Item 11, to correct a typographical error in the date of
last amendment (No. 6) of the Company's Non-Employee Directors and
Consultants Retainer Stock Plan; (d) Part III, Item 11, to correct a
typographical error in the number of shares outstanding at December
31, 2003 in the Company's 2003 Consultants Stock Compensation Plan;
(e) Part III, Item 12, to add disclosure regarding the salary of the
wife of the former president of the Company since it exceeds the limit
set forth under Item 404 of Regulation S-B; and (f) Part III, Item 13,
Exhibits, to include a new Exhibit 21 to take account of the
acquisition of Senz-It by the Company, and new certifications.
Besides these changes, no other changes have been made to the Form 10-
KSB for the year ended December 31, 2005.  In addition, the remaining
information in this amended Form 10-KSB has not been changed or
updated to reflect any changes in information that may have occurred
subsequent to the date of the reporting period that this Form 10-KSB
relates.

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

Market Information.

     The Company's common stock trades on the Over the Counter
Bulletin Board under the symbol "WDAM"; prior to the reverse stock
split on January 21, 2005, the symbol was "WLDI".  The Company began
using this symbol on December 1, 2000 following a 30 for 1 reverse
split; prior to that, the Company traded under the symbol "WLDC".  The
range of closing bid prices shown below is as reported by the Over the
Counter Bulletin Board.  The quotations shown reflect inter-dealer
prices, without retail mark-up, markdown or commission and may not
necessarily represent actual transactions, and are shown to reflect
the 1 for 100 reverse split of the common stock that occurred on
January 21, 2005.

Per Share Common Stock Bid Prices by Quarter
For the Fiscal Year Ended on December 31, 2005

                                                 High      Low

Quarter Ended December 31, 2005                  0.036     0.003
Quarter Ended September 30, 2005                 0.02      0.004
Quarter Ended June 30, 2005                      0.19      0.007
Quarter Ended March 31, 2005                     0.25      0.13

Per Share Common Stock Bid Prices by Quarter
For the Fiscal Year Ended on December 31, 2004

                                                 High      Low

Quarter Ended December 31, 2004                  0.35      0.11
Quarter Ended September 30, 2004                 0.46      0.21
Quarter Ended June 30, 2004                      1.10      0.46
Quarter Ended March 31, 2004                     1.23      0.31

Holders of Common Equity.

     As of May 1, 2006, the Company had approximately 100 record
holders of its common stock.  The number of record holders was
determined from the records of the transfer agent and does not include
beneficial owners of common stock whose shares are held in the names
of various security brokers, dealers, and registered clearing agencies.

Dividend Information.

     The Company has not declared or paid a cash dividend to
stockholders since it was organized.  The board of directors presently
intends to retain any earnings to finance our operations and does not
expect to authorize cash dividends in the foreseeable future.  Any
payment of cash dividends in the future will depend upon our earnings,
capital requirements and other factors.

Equity Securities Sold Without Registration.

     Except as follows, all sales of unregistered (restricted)
securities during the fiscal year ended on December 31, 2005 have been
previously reported either in a Form 10-QSB or in a Form 8-K:

     On October 10, 2005, the Company granted options to purchase
shares of company common stock to the following current and former
directors (total of 82,500,000 shares): (i) James Alexander: 45,000,000
shares to cover accrued but not paid salary owed to him by the company;
(ii) Robert Hovee: 18,750,000 shares (subsequently reduced on November
17, 2005 to 2,000,000 shares) to cover services to be performed for
company; (iii) David J. Barnes: 9,375,000 shares (subsequently reduced
on December 8, 2005 to 2,000,000 shares) to cover services to be
performed for the company; and (iv) James R. Largent: 9,375,000 shares
(subsequently reduced on December 8, 2005 to 2,000,000 shares) to cover
services to be performed for the company.  These options are
exercisable into free trading shares of common stock under the
Company's Employee Stock Incentive Plan.  At various times between that
date and December 31, 2005, the Company granted additional options to
various individuals up to the total of 125,000,000 granted during the year.

     No commissions were paid in connection with these sales.  These
sales were undertaken under Rule 506 of Regulation D under the
Securities Act of 1933.  Each of the transactions did not involve a
public offering and each of the investors represented that he/she was
a "sophisticated" or "accredited" investor as defined in Rule 502 of
Regulation D.

     World Am incorrectly previously reported that between January 6,
2005 and January 20, 2005, it had granted options covering a total of
269,650 (26,965,000 pre-split) shares of common stock to certain
company employees and consultants.  Instead, these were in actuality
shares of common stock (not options) issued under World Am's Directors
and Consultants Retainer Stock Plan to certain employees and
consultants (not including the company's chief executive officer and
his wife).

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

Security Ownership.

     The following table sets forth information regarding the
beneficial ownership of shares of the Company's common stock as of May
1, 2006 (200,847,958 issued and 171,041,035 issued and outstanding (1))
by (i) all stockholders known to us to be beneficial owners of more
than 5% of the outstanding common stock; and (ii) all officers and
directors of the Company, individually and as a group:

Title of Class    Name and Address of            Amount of      Percent of
                    Beneficial Owner             Beneficial       Class
                                                 Owner (1)         (2)

Common Stock      SUTI Holdings, LP,             400,000,040 (3)   70.05%
                  4040 MacArthur Boulevard
                  Suite 240
                  Newport Beach, California 92660

Common Stock      James H. Alexander              42,788,462 (4)   20.01%
                  5495 West 115th Place
                  Westminster, Colorado 80020

Common Stock      Golden Gate Investors, Inc.,    18,983,445 (5)    9.99%
                  7817 Herschel Avenue
                  Suite 200
                  La Jolla, California 92037

Common Stock      Select University Technologies, 17,880,000       10.45%
                  Inc.
                  4040 MacArthur Boulevard
                  Suite 240
                  Newport Beach, California 92660

Common Stock      Robert A. Hovee                           0       0.00%
                  4040 MacArthur Boulevard
                  Suite 240
                  Newport Beach, California 92660

Common Stock      David R. Barnes                          0        0.00%
                  4040 MacArthur Boulevard
                  Suite 240
                  Newport Beach, California 92660

Common Stock      James R. Largent                         0        0.00%
                  4040 MacArthur Boulevard
                  Suite 240
                  Newport Beach, California 92660

Common Stock      Shares of all directors and              0        0.00%
                  executive officers as a group (3
                  persons)

(1)  Except as noted, none of these security holders has the right to
acquire any amount of the shares within sixty days from options,
warrants, rights, conversion privilege, or similar obligations.  Each
person has sole voting power and sole dispositive power as to all of
the shares shown as beneficially owned by them.  The difference
between the issued shares and the issued and outstanding shares is the
number of shares held by the Company's transfer agent in escrow for
future issuances under the Company's Stock Incentive Plan.  The number
of outstanding shares has been adjusted for a one for one hundred
reverse split effective on January 21, 2005, and a three for two stock
dividend effective on August 15, 2005.

(2)  Applicable percentage ownership of common stock is based on
171,041,035 shares issued and outstanding as of May 1, 2006.
Beneficial ownership is determined in accordance with Rule 13d-3 of
the Securities Exchange Act of 1934, and the Instructions to Item 403
of Regulation S-B, and the information is not necessarily indicative
of beneficial ownership for any other purpose.  In computing the
number of shares beneficially owned by a person and the percentage
ownership of that person, shares of common stock subject to options or
convertible or exchangeable into such shares of common stock held by
that person that are currently exercisable, or exercisable within 60
days, are included.

(3)  Each share of the 55 shares of Class B preferred stock owned
by SUTI Holdings LP is convertible by its terms into 1% of the
outstanding common shares of the Company, including the common stock
equivalents of all unexercised warrants, options and convertible
securities, or a minimum of 7,272,728 shares of common stock.  Since
there are 171,041,035 shares issued and outstanding stock on May 1,
2006, the 55 preferred shares would convert into minimum of 7,272,728
times 55, which equals 400,000,040 shares of common stock.

(4)  This amount consists of an option granted to Mr. Alexander
in October 2005 to cover compensation under an existing employment
agreement with the Company that it chose to honor as past of the
change in control of the company.  This option is exercisable on
grant, and for a period of 10 years thereafter, at $0.015 per share.

(5)  Under SEC rules, beneficial ownership includes any shares as to
which Golden Gate Investors, Inc. has the right to acquire within 60
days based on the current convertibility of both the debenture and the
warrants issued to Golden Gate Investors, Inc. by the Company in
connection with the Securities Purchase Agreement between the parties
and the limit on beneficial ownership as set forth in that agreement
of 9.99% of the outstanding shares of common stock.

Securities Authorized for Issuance under Equity Compensation Plans.

     The Company has adopted four equity compensation plans (none of
which has been approved by our stockholders) that still have shares
remaining to be issued as of December 31, 2005 (we intend to
deregister the remaining unissued shares under the 2002 Stock
Compensation Plan and the 2003 Consultants Stock Compensation Plan):

(a)  2002 Stock Compensation Plan.

     On December 16, 2002, the Company adopted the 2002 Stock
Compensation Plan.  The purposes of the plan are to enable the Company
to promote the interests of the Company by attracting and retaining
consultants and independent contractors for the Company capable of
furthering the business of the Company and by aligning their economic
interests more closely with those of the Company's stockholders, by
paying their retainer or fees in the form of shares of common stock.
All 55,000,000 shares of common stock authorized under this plan have
been registered Form S-8 filed with the SEC during December 2002.  No
shares were issued under this plan during the year ended December 31,
2005.  As of December 31, 2005, there were 1,800,000 shares remaining
to be issued under this plan.

(b)  2003 Consultants Stock Compensation Plan.

     On August 19, 2003, the Company adopted the 2003 Consultants
Stock Compensation Plan.  The purposes of the plan are to enable the
Company to promote the interests of the Company by attracting and
retaining consultants and independent contractors for the Company
capable of furthering the business of the Company and by aligning
their economic interests more closely with those of the Company's
stockholders, by paying their retainer or fees in the form of shares
of common stock or stock options.  All 75,000,000 shares of common
stock authorized under this plan have been registered under a Form S-8
filed with the SEC during August 2003.  The options are exercisable at
a price as determined in each case by the board of directors, but in
no event shall the price be less than 100% of the fair market value of
the shares on the date of grant.  There were no options granted under
the plan during the year ended December 31, 2005.  As of December 31,
2005, there were 13,000,000 shares of common stock remaining to be
issued under this plan, the same number that were outstanding as of
December 31, 2003 and 2004 (the Company incorrectly disclosed this
number as 8,000,000 at the end of 2003).

(c)  Non-Employee Directors and Consultants Retainer Stock Plan.

     On January 5, 2001, the Company adopted the Non-Employee
Directors and Consultants Retainer Stock Plan (the Company adopted
Amendment No. 6 to this plan on December 22, 2005).  The purposes of
the plan are to enable the Company to promote the interests of the
Company by attracting and retaining consultants and independent
contractors for the Company capable of furthering the business of the
Company and by aligning their economic interests more closely with
those of the Company's stockholders, by paying their retainer or fees
in the form of shares of common stock or stock options.  As of
December 31, 2005, all 291,000,000 shares of common stock authorized
under this plan have been registered as a result of Form S-8's filed
with the SEC (the most recent being in December 2005).  A total of
103,565,494 shares were issued out of this plan in the year ended
December 31, 2005.  As of December 31, 2005, there were 22,984,363
shares of common stock remaining to be issued under this plan.

(d)  Employee Stock Incentive Plan.

     On January 22, 2001, the Company adopted an Employee Stock
Incentive Plan (the Company adopted Amendment No. 4 to this plan on
February 7, 2006).  This plan is intended to allow directors,
officers, employees, and certain non-employees of the Company to
receive options to purchase company common stock and grants of common
stock.  The purpose of this plan is to provide these persons with
equity-based compensation incentives to make significant and
extraordinary contributions to the long-term performance and growth of
the Company, and to attract and retain employees.  All 235,000,000
shares of common stock authorized under this plan have been registered
as a result of Form S-8's filed with the SEC (the most recent being in
October 2005).  The options are exercisable at 80% of the closing
price on the date of exercise (subsequently amended in February 2006
to an exercise price of $0.015 per share).  There were options granted
covering 125,000,000 shares under the plan during the year ended
December 31, 2005.  Options representing 13,620,000 shares of common
stock were exercised during the year ended December 31, 2005.  As of
December 31, 2005, there were 114,076,500 shares of common stock
remaining to be issued under this plan.



<TABLE>
<CAPTION>
                                    Equity Compensation Plan Information
                                            December 31, 2005
                                                                                 Number of
                                                                                 securities
                                                                                 remaining
                                 Number of                                   available for future
                              securities to be                                  issuance under
                                issued upon             Weighted-average           equity
                               exercise of             exercise price of         compensation
                               outstanding               outstanding            plan (excluding
                             options, warrants         options, warrants      securities reflected
                               and rights                 and rights             in column (a))
Plan category                     (a)                       (b)                      (c)
<S>                            <C>                     <C>                        <C>
Equity compensation plans
approved by security holders    0                       0                          0

Equity compensation plans
not approved by security
holders                         0                       0                     2002 Stock Compensation
                                                                              Plan: 1,800,000; 2003
                                                                              Consultants Stock Plan:
                                                                              13,000,000; Directors and
                                                                              Consultants Stock Plan:
                                                                              22,984,363; Employee Stock
                                                                              Plan: 114,076,500

Total                           0                       0                     2002 Stock Compensation Plan:
                                                                              1,800,000; 2003
                                                                              Consultants Stock
                                                                              Plan: 13,000,000;
                                                                              Directors and
                                                                              Consultants Stock
                                                                              Plan: 22,984,363;
                                                                              Employee Stock Plan:
                                                                              114,076,500
</TABLE>


ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     Other than as set forth below, during the last two fiscal years
there have not been any relationships, transactions, or proposed
transactions to which the Company was or is to be a party, in which any
of the directors, officers, or 5% or greater stockholders (or any
immediate family thereof) had or is to have a direct or indirect
material interest.

     (a)  On February 20, 2002, the Company entered into an employment
agreement, as amended, with Mr. Alexander for the term of three years.
Under the terms of this agreement, we agreed to pay the following
compensation:

     A fixed salary in the amount of $180,000 per year, paid
consistent with the standard payroll practices of the Company in
place, as may be adjusted from time-to-time by the board of directors
in its discretion. The fixed salary is payable in cash or in our
common stock which has been registered on Form S-8.  This salary is to
be reviewed from time to time during the term of this agreement by the
board of directors or any compensation and benefits committee of the
board.  In addition, Mr. Alexander is to be issued: (a) 14,400,000
shares of the Company's common stock pursuant to the terms of an
employee stock purchase plan to be adopted by the Company and
registered under a Form S-8.  These shares shall vest in equal
instalments of 1,200,000 shares quarterly over the three-year term;
and (b) 15,000,000 restricted shares of common stock.  Also, Mr.
Alexander, his dependents and beneficiaries are entitled to
participate in any pension, profit sharing, medical reimbursement,
insurance or other employee payment or benefit plan of the Company as
may be in effect from time to time, subject to the participation
standards and other terms thereof, to the same extent as other
officers under the benefit practices of the Company.  Finally, Mr.
Alexander is entitled to receive 15% of the Company's net profits.
Mr. Alexander received the 150,000 (15,000,000 pre-split) shares
specified in the agreement in 2002.

     On January 20, 2004, the Company further amended this employment
agreement to provide that the term of the agreement is to terminate on
February 20, 2007.  In addition, the following compensation has been
amended: (1) salary was reduced to $120,000 per year; (2) Mr.
Alexander is to be paid a bonus from time-to-time based on performance
of the executive; and (3) Mr. Alexander is to be paid a total of
24,000,000 shares of the common stock of the Company pursuant to the
terms of an employee stock purchase plan to be adopted by the Company
and registered under Form S-8 (these shares shall vest in equal
installments, 1,200,000 shares quarterly over the five year term.

     (b)  In February 2004, Mr. Alexander received a total of 292,873
(29,287,333 pre-split) restricted shares of common stock in payment for
accrued salaries owed by the Company.  These shares were valued at $131,793.

     (c)  In August 2004, Thomas Ferneau, the Company's former
Chief Financial Officer, was issued 1,000 (100,000 pre-split) shares
of restricted common stock as payment for expenses.  These shares were
valued at $270.

     (d)  In August 2004, Al Youngs, a former director of the
Company, was issued 31,000 (3,100,000 pre-split) shares of restricted
common stock as payment for services rendered to the Company.  These
shares were valued at $8,370.

     (e)  In August 2004, Willis Kollars, a current director of
the Company, was issued 14,300 (1,430,000 pre-split) shares of
restricted common stock as payment for services rendered to the
Company.  These shares were valued at $3,861.

     (f)  In September, October, and December 2004, the Company
granted to Mr. Alexander options to purchase a total of 172,500
(17,250,000 pre-split) shares of our common stock under the Company's
Amended and Restated Employee Stock Incentive Plan (Amendment No. 2).
These options were immediately exercised at 65% of the closing price
on the date of exercise.

     (g)  In September and October 2004, the Company granted to Ms.
Alexander options to purchase a total of 136,000 (13,600,000 pre-
split) shares of our common stock under the Company's Amended and
Restated Employee Stock Incentive Plan (Amendment No. 2).  These
options were immediately exercised at 65% of the closing price on the
date of exercise.

     (h)  In August, September, and October 2004, the Company granted
to Mr. Ferneau (the former chief financial officer) options to purchase
a total of 52,100 (5,210,000 pre-split) shares of our common stock
under the Company's Amended and Restated Employee Stock Incentive Plan
(Amendment No. 2).  These options were immediately exercised at 65% of
the closing price on the date of exercise.

     (i)  On June 10, 2005, the Company entered into a share exchange
agreement with Senz-It, Inc., a California corporation, and its
stockholder, SUTI Holdings LP.  Under the terms of this agreement, the
Company issued the following in exchange for all 1,000,000 shares of
Senz-It common stock outstanding:

     (1)  Warrants to purchase a total of 12,000,000 shares of our
     common stock, exercisable at $0.0001 per share for a period of
     five years after issuance; and

     (2)  55 shares of the Company Series B preferred stock (each
     share of which is convertible, at the option of the holder, at
     any time after the issuance of such share into that number of
     fully paid and nonassessable shares of common stock equal to 1%
     of the outstanding shares of our common stock then outstanding,
     after giving consideration to the shares issued as a result of
     the conversion, any options, warrants, or other convertible
     securities then outstanding, and any other securities issued
     simultaneously on the date of conversion).  Each share of Class B
     preferred stock will be entitled to the number of votes to which
     the holders thereof would be entitled if they converted their
     shares of Class B preferred stock at the time of voting.

     According to the terms of the share exchange agreement, the warrants
and the preferred stock are to be issued upon the closing of this transaction.

     On August 31, 2005, the parties entered into a first amendment to
share exchange agreement and closed this transaction.  Under the terms
of this amendment, the parties made the following changes, among
others, to the Share Exchange Agreement:

     (1)  the warrant was increased to a total of 18,000,000 shares of
     common stock;

     (2)  the conversion terms of the Series B preferred stock was
     modified so that each share is convertible into the greater of
     (i) 1% of the outstanding shares of common stock of the Company
     then outstanding, after giving consideration to the shares issued
     as a result of the conversion, any options, warrants, or other
     convertible securities then outstanding, and any other securities
     issued simultaneously on the date of conversion, and (ii)
     7,272,728 shares of common stock;

     (3)  reference to stockholder approval on the part of the
     Company was deleted since under Nevada law such approval is not
     required; and

     (4)  The Company agrees that no company securities will be
     issued without the written permission of SUTI, except shares
     issued for services as agreed by the Company and SUTI unless and
     until director and officer insurance is obtained.

With the issuance of the Series B convertible preferred stock, the
stockholders now control a majority of the voting power of the Company.

     Senz-It then exercised the option it holds to enter into an
exclusive, royalty-bearing license with the State University of New
York at Buffalo.  This license will cover patents developed by that
university that will enable Senz-It to develop technology with an
entirely new approach to sensing, process monitoring, homeland security
and environmental scanning applications.  When executed, this license
agreement will be disclosed in an amended Form 8-K.

     As of June 20, 2005, Select University Technologies, Inc., the
general partner of SUTI, had been hired to manage all operations of
Senz-It, Inc. under the terms of a Venture Acceleration Agreement.

     (j)  On June 13, 2005, the Company borrowed $5,000 under a
promissory note from Torrey Peaks Ventures, a company controlled by
the Company's then president, James Alexander (see Exhibit 10.5).
This note was amended on July 14, 2005 (see Exhibit 10.6) so that: (a)
the term was extended to one year from the commencement date, and (b)
the note was assigned to Innovision, Ltd., a firm controlled by Karen
Alexander, Mr. Alexander's wife.  This note is still outstanding.

     (k)  On October 10, 2005, the Company granted options to purchase
shares of company common stock to the following current and former
directors: (i) James Alexander: 45,000,000 shares to cover accrued but
not paid salary owed to him by the company; (ii) Robert Hovee:
18,750,000 shares (subsequently reduced on November 17, 2005 to
2,000,000 shares) to cover services to be performed for company; (iv)
David J. Barnes: 9,375,000 shares (subsequently reduced on December 8,
2005 to 2,000,000 shares) to cover services to be performed for the
company; and (v) James R. Largent: 9,375,000 shares (subsequently
reduced on December 8, 2005 to 2,000,000 shares) to cover services to
be performed for the company.  These options are exercisable into free
trading shares of common stock under the Company's Employee Stock
Incentive Plan.  On February 13, 2006, all remaining options held by
Mr. Hovee, Mr. Barnes, and Mr. Largent was returned to the Company and
cancelled.

     (l)  During the year ended December 31, 2005, Karen Alexander,
the wife of the Company's former president, was paid total salary of
$71,750 in her duties as an employee of the Company.  Ms. Alexander
contends that there is a valid contract in place covering her services
for the Company for a period of two years from March 1, 2005.
However, this alleged contract was not presented to the Company until
after the closing of the acquisition of Senz-It, Inc. on August 31,
2005.  In addition, the Company's then president, James Alexander,
informed management of Select University Technologies, Inc., the
general partner of the former shareholder of Senz-It, SUTI Holdings,
LP, that this alleged contract was void.  On that basis, the Company
considered there was no contract covering the services of Ms.
Alexander, but continued to pay her as an employee at her former
salary with the Company, $75,000 per annum.

     For each of the transactions noted above, the transaction was
negotiated, on the part of the Company, on the basis of what is in the
best interests of the company and our stockholders.  In addition, in
each case the interested affiliate did vote in favor of the
transaction; however, the full board of directors did make the
determination that the terms in each case were as favorable as could
have been obtained from non-affiliated parties.

     Certain of our officers and directors are engaged in other
businesses, either individually or through partnerships and
corporations in which they have an interest, hold an office, or serve
on a board of directors.  As a result, certain conflicts of interest
may arise between the Company and such officers and directors.  The
Company will attempt to resolve such conflicts of interest in its favor.

ITEM 13.  EXHIBITS.

     Exhibits included or incorporated by reference in this document
are set forth in the Exhibit Index.

                               SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Company has duly caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                       World Am, Inc.



Dated: June 20, 2006                   By: /s/ Robert A. Hovee
                                       Robert A. Hovee,
                                       Chief Executive Officer

     Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons on
behalf of the Company and in the capacities and on the dates indicated:

         Signature                    Title                         Date

/s/ Robert A. Hovee        Chief Executive Officer/Director     June 20, 2006
Robert A. Hovee

/s/  David J. Barnes       Chief Financial                      June 20, 2006
David J. Barnes            Officer/Director

/s/ James R. Largent       Secretary/Director                   June 20, 2006
James R. Largent

                                    EXHIBIT INDEX

Number                  Description

2.1     Agreement and Plan of Merger between the Company and Allmon
        Corporation, dated May 11, 2000 (incorporated by reference
        to Exhibit 2.1 of the Form 8-K12g-3 filed on May 16, 2000).

2.2     Stock Purchase Agreement between the Company, Isotec,
        Incorporated, and selling shareholders, dated February 22,
        2000 (incorporated by reference to Exhibit 2.2 of the Form
        10-QSB filed on May 21, 2001).

2.3     Share Exchange Agreement between the Company and World Am
        Security Venture Company, Ltd., dated May 18, 2004
        (incorporated by reference to Exhibit 2 of the Form 8-K
        filed on May 26, 2004).

3.1     Articles of Incorporation, dated July 5, 2002 (incorporated
        by reference to Exhibit 3.1 of the Form 10-QSB/A filed on
        February 5, 2004).

3.2     Certificate of Amendment to Articles of Incorporation, dated
        August 20, 2002 (incorporated by reference to Exhibit 3.2 of
        the Form 10-QSB/A filed on February 5, 2004).

3.3     Certificate of Amendment to Articles of Incorporation, dated
        December 20, 2002 (incorporated by reference to Exhibit 3.3
        of the Form 10-QSB/A filed on February 5, 2004).

3.4     Certificate of Amendment to Articles of Incorporation, dated
        August 2, 2004 (incorporated by reference to Exhibit 3.4 of
        the Form 10-QSB filed on August 20, 2004).

3.5     Certificate of Amendment of Articles of Incorporation, dated
        November 8, 2004 (incorporated by reference to Exhibit 3.1
        of the Form 8-K filed on November 16, 2004).

3.6     Certificate of Amendment of Articles of Incorporation, dated
        November 8, 2004 (incorporated by reference to Exhibit 3.2
        of the Form 8-K filed on November 16, 2004).

3.7     Bylaws, dated May 15, 2000 (incorporated by reference to
        Exhibit 3.2 of the Form 8-K12g-3 filed on May 16, 2000).

4.1     Employee Stock Incentive Plan, dated January 22, 2001
        (incorporated by reference to Exhibit 4.1 of the Form S-8
        filed on January 29, 2001).

4.2     Non-Employee Directors and Consultants Retainer Stock Plan,
        dated January 5, 2001 (incorporated by reference to Exhibit
        4.2 of the Form S-8 filed on January 29, 2001).

4.3     Common Stock Purchase Agreement between the Company and Four
        Way Associates, Inc., dated June 1, 2001 (incorporated by
        reference to Exhibit 4.3 of the Form SB-2 filed on August
        28, 2001).

4.4     Amended and Restated Employee Stock Incentive Plan, dated
        November 20, 2001 (incorporated by reference to Exhibit 4.1
        of the Form S-8 POS filed on January 31, 2002).

4.5     Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan, dated November 20, 2001 (incorporated
        by reference to Exhibit 4.2 of the Form S-8 POS filed on
        January 31, 2002).

4.6     2002 Non-Employee Directors and Consultants Retainer Stock
        Plan, dated September 12, 2002 (incorporated by reference to
        Exhibit 4 of the Form S-8 filed on September 18, 2002).

4.7     2002 Stock Compensation Plan, dated December 16, 2002
        (incorporated by reference to Exhibit 4 of the Form S-8
        filed on December 23, 2002)

4.8     2003 Consultants Stock Compensation Plan dated August 19,
        2003 (incorporated by reference to Exhibit 4 of the Form S-8
        filed on August 22, 2003).

4.9     2003  Non-Qualified Stock Option Plan, dated September
        29, 2003  (incorporated by reference to Exhibit 4 of the
        Form S-8 filed on October 1, 2003).

4.10    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 2), dated February 10,
        2004 (incorporated by reference to Exhibit 4 of the Form S-8
        POS filed on February 13, 2004).

4.11    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 3), dated June 1, 2004
        (incorporated by reference to Exhibit 4 of the Form S-8 POS
        filed on June 10, 2004).

4.12    Amended and Restated Employee Stock Incentive Plan
        (Amendment No. 2), dated July 15, 2004 (incorporated by
        reference to Exhibit 4 of the Form S-8 POS filed on August
        6, 2004).

4.13    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 4), dated October 12,
        2004 (incorporated by reference to Exhibit 4 of the Form S-8
        POS filed on October 19, 2004).

4.14    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 5), dated December 1,
        2004 (incorporated by reference to Exhibit 4 of the Form S-8
        POS filed on December 13, 2004).

4.15    Amended and Restated Employee Stock Incentive Plan
        (Amendment No. 3), dated October 17, 2005 (incorporated by
        reference to Exhibit 4 of the Form S-8 POS filed on December
        6, 2005).

4.16    Amended and Restated Non-Employee Directors and Consultants
        Retainer Stock Plan (Amendment No. 6), dated December 22,
        2005 (incorporated by reference to Exhibit 4 of the Form S-8
        POS filed on January 6, 2006).

4.17    Securities Purchase Agreement between the Company and Golden
        Gate Investors, Inc., dated January 23, 2006 (incorporated
        by reference to Exhibit 4.1 of the Form 8-K filed on
        February 10, 2006).

4.18    6 3/4% Convertible Debenture issued to Golden Gate Investors,
        Inc., dated January 23, 2006 (incorporated by reference to
        Exhibit 4.2 of the Form 8-K filed on February 10, 2006).

4.19    Warrant to Purchase Common Stock (due January 6, 2009)
        issued to Golden Gate Investors, Inc., dated January 23,
        2006 (incorporated by reference to Exhibit 4.3 of the Form
        8-K filed on February 10, 2006).

4.20    Warrant to Purchase Common Stock (due January 6, 2011)
        issued to Golden Gate Investors, Inc., dated January 23,
        2006 (incorporated by reference to Exhibit 4.4 of the Form
        8-K filed on February 10, 2006).

4.21    Registration Rights Agreement between the Company and Golden
        Gate Investors, Inc., dated January 23, 2006 (incorporated
        by reference to Exhibit 4.5 of the Form 8-K filed on
        February 10, 2006).

4.22    Addendum to Convertible Debenture and Warrant To Purchase
        Common Stock, dated February 7, 2006 (incorporated by
        reference to Exhibit 4.6 of the Form 8-K filed on February 10, 2006).

4.23    Amended and Restated Employee Stock Incentive Plan
        (Amendment No. 4), dated February 7, 2006 incorporated by
        reference to Exhibit 4 of the Form S-8 POS filed on February 14, 2006).

10.1    Employment Agreement between the Company and James
        Alexander, dated February 20, 2002 (incorporated by
        reference to Exhibit 10.4 of the Form 10-QSB filed on May
        14, 2002).

10.2    Amendment A to Employment Agreement between the Company and
        James Alexander, dated as of February 20, 2002 (incorporated
        by reference to Exhibit 10.1 of the Form 10-KSB filed on
        April 11, 2003).

10.3    Amendment B to Employment Agreement between the Company and
        James Alexander, dated January 15, 2004 (incorporated by
        reference to Exhibit 10.3 of the Form 10-KSB fled on April
        20, 2004).

10.4    Share Exchange Agreement between the Company, on the one
        hand, and Senz-It, Inc. and the shareholder of Senz-It, on
        the other hand, dated June 10, 2005 (including the
        following: Exhibit A: Shares to be Issued; Exhibit B:
        Warrant; Exhibit C: Series B Preferred Stock Certificate of
        Designation; and Exhibit I: Funding Schedule) (not including
        the following: Exhibit D: World Am, Inc. Officer's
        Certificate; Exhibit E: Senz It, Inc. Officer's Certificate;
        Exhibit F: Senz It Financial Statements; Exhibit G: Senz It
        Contracts; Exhibit H: World Am Contracts; Exhibit J: Form 8-
        K; Exhibit K: Press Release; Schedule 5.7: Taxes; and
        Schedule 5.9: Legal Proceedings) (incorporated by reference
        to Exhibit 10.1 of the Form 8-K/A filed on September 7, 2005).

10.5    Promissory Note issued by the Company in favor of Torrey
        Peaks Ventures, dated June 13, 2005 (incorporated by
        reference to Exhibit 10.1 of the Form 8-K filed on March 21, 2006).

10.6    Amendment "A" to Promissory Note, dated July 14, 2005
        (incorporated by reference to Exhibit 10.2 of the Form 8-K
        filed on March 21, 2006).

10.7    First Amendment to Share Exchange Agreement between the
        Company, on the one hand, and Senz-It, Inc. and the
        shareholder of Senz-It, on the other hand, dated August 31,
        2005 (incorporated by reference to Exhibit 10.2 of the Form
        8-K/A filed on September 7, 2005).

10.8    Option to Exclusive License Agreement between Senz-It Inc.
        and The Research Foundation of State University of New York,
        dated June 20, 2005 (incorporated by reference to Exhibit
        10.3 of the Form 8-K/A filed on September 7, 2005).

10.9    Venture Acceleration Agreement between Senz-It, Inc. and
        Select University Technologies, Inc., dated June 20, 2005
        (incorporated by reference to Exhibit 10.4 of the Form 8-K/A
        filed on November 28, 2005).

10.10   Demand Promissory Note issued by the Company in favor of
        SUTI Holdings, LP, dated May 18, 2006 (incorporated by
        reference to Exhibit 10.10 of the Form 10-KSB filed on May 22, 2006).

14      Code of Business Conduct and Ethics, adopted by the
        Company's board of directors (incorporated by reference to
        Exhibit 14 of the Form 10-KSB filed on April 20, 2004).

16      Letter on Change in Certifying Accountant (incorporated by
        reference to Exhibit 16 of the Form 8-K/A filed on July 12, 2004).

21      Subsidiaries of the Company (file herewith).

23      Consent of Independent Registered Public Accounting Firm
        (incorporated by reference to Exhibit 23 of the Form 10-KSB
        filed on May 22, 2006).

31.1    Rule 13a-14(a)/15d-14(a) Certification of Robert A. Hovee
        (filed herewith).

31.2    Rule 13a-14(a)/15d-14(a) Certification of David J. Barnes
        (filed herewith).

32      Section 1350 Certification of Robert A. Hovee and David J.
        Barnes (filed herewith).

99.1    Confirmation of Provisional Patent Application, dated
        September 2, 2004 (incorporated by reference to Exhibit 99.3
        of the Form 10-KSB filed on April 21, 2005).

99.2    Confirmation of Provisional Patent Application, dated
        September 2, 2004 (incorporated by reference to Exhibit 99.4
        of the Form 10-KSB filed on April 21, 2005).

99.3    Press release issued by the Company, dated June 13, 2005
        (incorporated by reference to Exhibit 99 of the Form 8-K
        filed on June 16, 2005).

99.4    Press Release issued by the Company, dated August 9, 2005
        (incorporated by reference to Exhibit 99.2 of the Form 8-K/A
        filed on September 7, 2005).

99.5    Press Release issued by the Company, dated September 7, 2005
        (incorporated by reference to Exhibit 99.3 of the Form 8-K/A
        filed on September 7, 2005).

99.6    Press Release issued by the Company, dated November 7, 2005
        (incorporated by reference to Exhibit 99 of the Form 8-K
        filed on November 14, 2005).

99.7    Press Release issued by the Company, dated November 14, 2005
        (incorporated by reference to Exhibit 99 of the Form 8-K
        filed on November 16, 2005).

99.8    Press Release issued by the Company, dated February 21, 2006
        (incorporated by reference to Exhibit 99 of the Form 8-K
        filed on March 2, 2006).