| Utah                                             | 87-0416131                           |
|--------------------------------------------------|--------------------------------------|
| (State                  or other jurisdiction of | (I.R.S.                  Employer    |
| incorporation                  or organization)  | Identification                  No.) |

----

|                                                                                                                     |   |  October 31, |        | July 31, |   |
|--------------------------------------------------------------------------------------------------------------------------|--------|------------------------|-------------|---------------|--------|
|                                                                                                                     |   |  2007             |        | 2007          |   |
|                                                                                                                     |   |  (Unaudited)      |        | (Restated)    |   |
| ASSETS                                                                                                                   |
| CURRENT                ASSETS                                                                                            |   |                   |        |          |   |   |   |
| Cash                                                                                                                     |   | $                      | 455         |          | $      | 5,475 |   |
| Current                portion of prepaid consulting expenses                                                            |   |                   | 128,333     |          |   | 189,451 |   |
|  Total                Current Assets                                                                                |   |                   | 128,788     |          |   | 194,926 |   |
|                                                                                                                     |   |                   |        |          |   |   |   |
| OFFICE                EQUIPMENT, net of accumulated depreciation of  $6,758 and $6,405,                respectively |   |                   | 529         |          |   | 882 |   |
|                                                                                                                     |   |                   |        |          |   |   |   |
| OTHER                ASSETS                                                                                              |   |                   |        |          |   |   |   |
| Due                from affiliated company                                                                               |   |                   | 8,288       |          |   | 3,398 |   |
| Intangible                assets - production rights                                                                     |   |                   | 300         |          |   | 300 |   |
|                                                                                                                     |   |                   |        |          |   |   |   |
|  Total                Assets                                                                                        |   | $                      | 137,905     |          | $      | 199,506 |   |
|                                                                                                                     |   |                   |        |          |   |   |   |
| LIABILITIES                AND STOCKHOLDERS' DEFICIENCY                                                                  |
| CURRENT                LIABILITIES                                                                                       |   |                   |        |          |   |   |   |
| Convertible                loan payable                                                                                  |   | $                      | 100,000     |          | $      | 100,000 |   |
| Accounts                payable                                                                                          |   |                   | 205,011     |          |   | 209,913 |   |
| Accrued                consulting fees - officers                                                                        |   |                   | 283,300     |          |   | 257,800 |   |
| Accrued                payroll taxes                                                                                     |   |                   | 121,727     |          |   | 115,839 |   |
| Accrued                expenses                                                                                          |   |                   | 105,548     |          |   | 64,481 |   |
| Due                to affiliated company                                                                                 |   |                   | 6,750       |          |   | 4,500 |   |
| Loan                payable                                                                                              |   |                   | 23,400      |          |   | 23,400 |   |
| Loans                from officers                                                                                       |   |                   | 49,385      |          |   | 49,385 |   |
| Deposits                to acquire common stock                                                                          |   |                   | 347,251     |          |   | 317,451 |   |
|  Total                Current Liabilities                                                                           |   |                   | 1,242,372   |          |   | 1,142,769 |   |
|                                                                                                                     |   |                   |        |          |   |   |   |
| STOCKHOLDERS'                DEFICIENCY                                                                                  |   |                   |        |          |   |   |   |
| Preferred                stock, authorized 2,000,000 shares;                                                             |   |                   |        |          |   |   |   |
| $0.001                par value; no shares issued and outstanding                                                        |   |                   |        |          |   |   |   |
| Common                stock, authorized 50,000,000 shares;                                                               |   |                   |        |          |   |   |   |
| $0.003                par value; 18,914,914 shares issued and                                                            |   |                   |        |          |   |   |   |
| outstanding                at October 31, 2007 and July 31, 2007, respectively                                           |   |                   | 18,915      |          |   | 18,915 |   |
| Additional                contributed capital                                                                            |   |                   | 13,485,156  |          |   | 13,485,156 |   |
| Deficit                accumulated during the development stage                                                          |   |                   | (14,608,538 | )             |   | (14,447,334 | ) |
|  Total                Stockholders' Deficiency                                                                      |   |                   | (1,104,467  | )             |   | (943,263 | ) |
|                                                                                                                     |   |                   |        |          |   |   |   |
|  Total                Liabilities and Stockholders' Deficiency                                                      |   | $                      | 137,905     |          | $      | 199,506 |   |

----

|                                              |   |                                            |       |        |   | October 10, 2002 |    |
|---------------------------------------------------|--------|------------------------------------------------------|------------|-------------|--------|----------------------------|---------|
|                                              |   |  For the Three Months Ended |       | (Inception) |   |
|                                              |   |  October 31,                               |       | to          |   |
|                                              |   |  2007                                           |       | 2006        |   | October 31, 2007 |    |
|                                              |   |                                            |       |        |   |                       |    |
| REVENUE                                           |   | $                                                    | -          |        | $      | -                          |    | $ | - |   |
|                                              |   |                                                 |       |        |   |                       |    |   |   |   |
| COSTS                AND EXPENSES                 |   |                                                 |       |        |   |                       |    |   |   |   |
| Stock                based compensation           |   |                                                 |       |        |   |                       |    |   | 1,193,750 |   |
| Stock                issued for services          |   |                                                 |       |        |   | 1,925                      |    |   | 10,306,119 |   |
| Consulting                fees                    |   |                                                 | 15,012     |        |   | 8,541                      |    |   | 159,096 |   |
| Consulting                fees - officers         |   |                                                 | 43,200     |        |   | 47,400                     |    |   | 815,851 |   |
| Other                general office expenses      |   |                                                 | 41,505     |        |   | 35,743                     |    |   | 1,212,412 |   |
| Amortization                of consulting fees    |   |                                                 | 61,118     |        |   | 198,002                    |    |   | 910,917 |   |
| Depreciation                                      |   |                                                 | 353        |        |   | 607                        |    |   | 6,758 |   |
|  Total                Costs and Expenses     |   |                                                 | 161,188    |        |   | 292,218                    |    |   | 14,604,903 |   |
|                                              |   |                                                 |       |        |   |                       |    |   |   |   |
| NET                OPERATING LOSS                 |   |                                                 | (161,188   | )           |   | (292,218                   | )       |   | (14,604,903 | ) |
|                                              |   |                                                 |       |        |   |                       |    |   |   |   |
| OTHER                EXPENSE                      |   |                                                 |       |        |   |                       |    |   |   |   |
| Interest                                          |   |                                                 | (16        | )           |   | (27                        | )       |   | (3,635 | ) |
|                                              |   |                                                 |       |        |   |                       |    |   |   |   |
| NET                LOSS BEFORE INCOME TAXES       |   |                                                 | (161,204   | )           |   | (292,245                   | )       |   | (14,608,538 | ) |
|                                              |   |                                                 |       |        |   |                       |    |   |   |   |
| INCOME                TAXES                       |   |                                                 | -          |        |   | -                          |    |   | - |   |
|                                              |   |                                                 |       |        |   |                       |    |   |   |   |
| NET                LOSS                           |   | $                                                    | (161,204   | )           | $      | (292,245                   | )       | $ | (14,608,538 | ) |
|                                              |   |                                                 |       |        |   |                       |    |   |   |   |
| NET                LOSS PER SHARE OF COMMON STOCK |   |                                                 |       |        |   |                       |    |   |   |   |
| (basic                and diluted)                |   | $                                                    | (0.01      | )           | $      | (0.02                      | )  | $ | (1.48 | )  |
|                                              |   |                                                 |       |        |   |                       |    |   |   |   |
| WEIGHTED                AVERAGE NUMBER OF         |   |                                                 |       |        |   |                       |    |   |   |   |
| COMMON                SHARES OUTSTANDING          |   |                                                 | 18,914,914 |        |   | 14,344,098                 |    |   | 9,903,884 |   |

----

|                                                           |   |                                            |     |        |   | October 10, 2002 |   |
|----------------------------------------------------------------|--------|------------------------------------------------------|----------|-------------|--------|----------------------------|--------|
|                                                           |   |  For the Three Months Ended |     | (Inception) |   |
|                                                           |   |  October 31,                               |     | to          |   |
|                                                           |   |  2007                                           |     | 2006        |   | October 31, 2007 |   |
|                                                           |   |                                            |     |        |   |                       |   |
| CASH                FLOWS FROM OPERATING ACTIVITIES            |   |                                                 |     |        |   |                       |   |   |   |   |
| Net                loss                                        |   | $                                                    | (161,204 | )           | $      | (292,245                   | )      | $ | (14,608,538 | ) |
| Adjustments                to reconcile net loss to cash flows |   |                                                 |     |        |   |                       |   |   |   |   |
| from                operating activities:                      |   |                                                 |     |        |   |                       |   |   |   |   |
|  Stock                based compensation                  |   |                                                 |     |        |   |                       |   |   | 1,193,750 |   |
|  Stock                issued for services                 |   |                                                 |     |        |   | 1,925                      |   |   | 10,306,119 |   |
|  Amortization                of consulting fees           |   |                                                 | 61,118   |        |   | 198,002                    |   |   | 910,917 |   |
|  Depreciation                                             |   |                                                 | 353      |        |   | 607                        |   |   | 6,758 |   |
| Operating                expenses paid by officer              |   |                                                 |     |        |   |                       |   |   | 37,045 |   |
| Changes                in assets and liabilities:              |   |                                                 |     |        |   |                       |   |   |   |   |
| Increase                in due from affiliated companies       |   |                                                 | (4,890   | )           |   |                       |   |   | (8,288 | ) |
| Increase                (decrease) in accounts payable         |   |                                                 | (4,902   | )           |   | 16,188                     |   |   | 325,413 |   |
| Increase                in accrued consulting fees - officers  |   |                                                 | 25,500   |        |   | 43,900                     |   |   | 351,700 |   |
| Increase                in accrued payroll taxes               |   |                                                 | 5,888    |        |   | 1,998                      |   |   | 121,727 |   |
| Increase                in accrued expenses                    |   |                                                 | 41,067   |        |   | 2,619                      |   |   | 110,798 |   |
| Increase                in due to affiliated companies         |   |                                                 | 2,250    |        |   | 2,250                      |   |   | 1,500 |   |
|  Net                cash used in operating activities     |   |                                                 | (34,820  | )           |   | (24,756                    | )      |   | (1,251,099 | ) |
|                                                           |   |                                                 |          |        |   |                            |   |   |  |   |
| CASH                FLOWS FROM INVESTING ACTIVITIES            |   |                                                 |     |        |   |                       |   |   |   |   |
| Purchase                of office equipment                    |   |                                                 |     |        |   |                       |   |   | (7,287 | ) |
|  Net                cash used in investing activities     |   |                                                 | -        |        |   | -                          |   |   | (7,287 | ) |
|                                                           |   |                                                 |     |        |   |                       |   |   |   |   |
| CASH                FLOWS FROM FINANCING ACTIVITIES            |   |                                                 |     |        |   |                       |   |   |   |   |
| Bank                overdraft                                  |   |                                                 |     |        |   | 178                        |   |   |   |   |
| Proceeds                from convertible loan payable          |   |                                                 |     |        |   |                       |   |   | 100,000 |   |
| Proceeds                from demand note payable               |   |                                                 |     |        |   |                       |   |   | 98,000 |   |
| Payments                on demand note payable                 |   |                                                 |     |        |   |                       |   |   | (25,000 | ) |
| Proceeds                from loans from officers               |   |                                                 |     |        |   | 4,600                      |   |   | 100,700 |   |
| Payments                on loans from officers                 |   |                                                 |     |        |   | (180                       | )      |   | (33,380 | ) |
| Proceeds                from deposits to acquire common stock  |   |                                                 | 29,800   |        |   | 10,000                     |   |   | 429,771 |   |
| Proceeds                from issuance of common stock          |   |                                                 |     |        |   |                       |   |   | 588,750 |   |
|  Net                cash provided by financing activities |   |                                                 | 29,800   |        |   | 14,598                     |   |   | 1,258,841 |   |
|                                                           |   |                                                 |     |        |   |                       |   |   |   |   |
|  Net                increase (decrease) in cash           |   |                                                 | (5,020   | )           |   | (10,158                    | )      |   | 455 |   |
|                                                           |   |                                                 |     |        |   |                       |   |   |   |   |
| CASH                AT BEGINNING OF PERIOD                     |   |                                                 | 5,475    |        |   | 10,158                     |   |   |     |   |
|                                                           |   |                                                 |     |        |   |                       |   |   |   |   |
| CASH                AT END OF PERIOD                           |   | $                                                    | 455      |        | $      | -                          |   | $ | 455 |   |

----

|                                                           |   |                                            |   |        |   | October 10, 2002 |   |
|----------------------------------------------------------------|--------|------------------------------------------------------|--------|-------------|--------|----------------------------|--------|
|                                                           |   |  For the Three Months Ended |   | (Inception) |   |
|                                                           |   |  October 31,                               |   | to          |   |
|                                                           |   |  2007                                           |   | 2006        |   | July 31, 2007    |   |
|                                                           |   |                                            |   |        |   |                       |   |
| SUPPLEMENTAL                DISCLOSURE OF CASH FLOW            |   |                                                 |   |        |   |                       |   |   |   |   |
| INFORMATION                                                    |   |                                                 |   |        |   |                       |   |   |   |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| CASH                PAID FOR:                                  |   |                                                 |   |        |   |                       |   |   |   |   |
| Interest                                                       |   | $                                                    | 16     |        | $      | 27                         |   | $ | 3,619 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| NON-CASH                INVESTING AND FINANCING ACTIVITIES:    |   |                                                 |   |        |   |                       |   |   |   |   |
| Issuance                of common stock for production rights  |   |                                                 |   |        |   |                       |   |   | 300 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Capitalization                of ASYST liabilities             |   |                                                 |   |        |   |                       |   |   | 77,055 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Recharacterization                of ASYST accumulated deficit |   |                                                 |   |        |   |                       |   |   |   |   |
|  upon                reverse merger                       |   |                                                 |   |        |   |                       |   |   | 375,997 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Issuance                of common stock for stock based        |   |                                                 |   |        |   |                       |   |   |   |   |
|  compensation                                             |   |                                                 |   |        |   |                       |   |   | 1,193,750 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Issuance                of common stock for services           |   |                                                 |   |        |   | 1,925                      |   |   | 10,306,119 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Demand                note payable paid by officer             |   |                                                 |   |        |   |                       |   |   | 73,000 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Issuance                of common stock in payment of          |   |                                                 |   |        |   |                       |   |   |   |   |
|  accounts                payable                          |   |                                                 |   |        |   |                       |   |   | 120,402 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Issuance                of common stock for prepaid            |   |                                                 |   |        |   |                       |   |   |   |   |
|  consulting                fees                           |   |                                                 |   |        |   |                       |   |   | 1,039,250 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Pay-off                accrued consulting fees - officers      |   |                                                 |   |        |   |                       |   |   |   |   |
|  with                loan payable                         |   |                                                 |   |        |   |                       |   |   | 68,400 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Issuance                of common stock and reduction of       |   |                                                 |   |        |   |                       |   |   |   |   |
|  deposits                to acquire common stock          |   |                                                 |   |        |   |                       |   |   | 210,500 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Reclassifiation                of loans from officers to       |   |                                                 |   |        |   |                       |   |   |   |   |
|  deposits                to acquire common stock          |   |                                                 |   |        |   |                       |   |   | 127,980 |   |
|                                                           |   |                                                 |   |        |   |                       |   |   |   |   |
| Issuance                of common stock in payment of          |   |                                                 |   |        |   |                       |   |   |   |   |
|  accrued                consulting fees - officers        |   |                                                 |   |        |   |                       |   |   | 133,334 |   |

----

|                                                            |   | As                Restated |        | As Originally Filed |   |
|-----------------------------------------------------------------|--------|----------------------------|-------------|-------------------------------|--------|
|                                                            |   |                       |        |                          |   |
| Accrued                consulting fees – officers    |   | $                          | 257,800     |                          | $      | 266,200 |   |
| Accrued                payroll taxes                            |   |                       | 115,839     |                          |   | 91,839 |   |
| Total                current liabilities                        |   |                       | 1,142,769   |                          |   | 1,127,169 |   |
| Common                Stock                                     |   |                       | 18,915      |                          |   | 17,248 |   |
| Additional                contributed capital                   |   |                       | 13,485,156  |                          |   | 13,186,823 |   |
| Deficit                accumulated during the development stage |   |                       | (14,447,334 | )                             |   | (14,131,734 | ) |
| Total                stockholders’ deficiency             |   |                       | (943,263    | )                             |   | (927,663 | ) |
|                                                            |   |                       |        |                          |   |   |   |
| Stock                based compensation                         |   |                       | 300,000     |                          |   | - |   |
| Consulting                fees – officers            |   |                       | 181,200     |                          |   | 189,600 |   |
| Other                general office expenses                    |   |                       | 395,132     |                          |   | 371,132 |   |
| Total                costs and expenses                         |   |                       | 1,954,438   |                          |   | 1,638,838 |   |
| Net                loss                                         |   |                       | (1,954,477  | )                             |   | (1,638,877 | ) |

----

----

**General**

**Our      Corporate History**

**Recent      Developments **

----

**Plan        of Operation **

----

** **

|                    |   |                                                                                                                                                                 |   |                                          |
|-------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|
| Item                No. |   | Description                                                                                                                                                          |   | Method                of Filing               |
| 31.1                    |   | Certification                of Mechael Kanovsky, Ph.D. pursuant to Rule 13a-14(a)                                                                                   |   | Filed                electronically herewith. |
| 31.2                    |   | Certification                of Simcha Edell pursuant to Rule 13a-14(a)                                                                                              |   | Filed                electronically herewith. |
| 32.1                    |   | Chief                Executive Officer Certification pursuant to 18U.S.C. ss. 1350 adopted                pursuant to Section 906 of the Sarbanes Oxley Act of 2002  |   | Filed                electronically herewith. |
| 32.2                    |   | Chief                Financial Officer Certification pursuant to 18 U.S.C. ss. 1350 adopted                pursuant to Section 906 of the Sarbanes Oxley Act of 2002 |   | Filed                electronically herewith. |

|                           |                                                                                                                                                        |                                          |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------|
|                           |                                                                                                                                                        |
|                           | AMAZON              BIOTECH,              INC.                                                                                                              |
|                      |                                                                                                                                                   |                                     |
| December              20, 2007 |                                                                                                                                                   | /s/ Mechael              Kanovsky, Ph.D. |
|                           | Mechael              Kanovsky, Ph.D.President                and Chief Executive Officer(Principal                Executive Officer)                        |
|                           |                                                                                                                                                        |
|                           |                                                                                                                                                        |
| December              20, 2007 | /s/              Simcha Edell                                                                                                                               |
|                           | Simcha              Edell Chief                Financial Officer(Principal                Financial Officer and PrincipalAccounting                Officer) |
|                           |                                                                                                                                                        |
|                           |                                                                                                                                                        |

----