| x | QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------------------------------------|

----

| o | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF 1934 |
|---|------------------------------------------------------------------------------------------------------------------------|

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

----

----

|                                                                           |   | April                  30,                  2007 |        | July                  31, 2006 |   |
|--------------------------------------------------------------------------------|--------|--------------------------------------------------|-------------|--------------------------------|--------|
|                                                                           |   | (Unaudited)                                      |        | (Restated)                     |   |
| ASSETS                                                                         |   |                                             |        |                           |   |
|                                                                           |   |                                             |        |                           |   |
| CURRENT                  ASSETS                                                |   |                                             |        |                           |   |
| Cash                                                                           |   | $                                                | 218         |                           | $      | 10,158 |   |
| Current                  portion of prepaid consulting expenses                |   |                                             | 232,444     |                           |   | 572,314 |   |
|                                                                           |   |                                             |        |                           |   |   |   |
| Total                  Current Assets                                          |   |                                             | 232,662     |                           |   | 582,472 |   |
|                                                                           |   |                                             |        |                           |   |   |   |
| OFFICE                  EQUIPMENT, net of accumulated depreciation of $6,306   |   |                                             |        |                           |   |   |   |
| and                  $4,484 at April 30, 2007 and July 31, 2006, respectively  |   |                                             | 981         |                           |   | 2,803 |   |
|                                                                           |   |                                             |        |                           |   |   |   |
| OTHER                  ASSETS                                                  |   |                                             |        |                           |   |   |   |
| Long                  term portion of prepaid consulting expenses              |   |                                             | 18,333      |                           |   | 183,333 |   |
| Intangible                  assets - Production rights                         |   |                                             | 300         |                           |   | 300 |   |
|                                                                           |   |                                             |        |                           |   |   |   |
| Total                  Assets                                                  |   | $                                                | 252,276     |                           | $      | 768,908 |   |
|                                                                           |   |                                             |        |                           |   |   |   |
| LIABILITIES                  AND STOCKHOLDERS’ EQUITY (DEFICIENCY)       |   |                                             |        |                           |   |   |   |
|                                                                           |   |                                             |        |                           |   |   |   |
| CURRENT                  LIABILITIES                                           |   |                                             |        |                           |   |   |   |
| Accounts                  payable                                              |   | $                                                | 112,420     |                           | $      | 58,401 |   |
| Accrued                  consulting fees - officers                            |   |                                             | 268,100     |                           |   | 176,800 |   |
| Accrued                  payroll taxes                                         |   |                                             | 90,399      |                           |   | 79,317 |   |
| Accrued                  expenses                                              |   |                                             | 53,751      |                           |   | 61,296 |   |
| Accrued                  expenses payable in common stock                      |   |                                             | 121,451     |                           |   |   |   |
| Due                  to affiliated companies                                   |   |                                             | 20,175      |                           |   | 14,250 |   |
| Loan                  payable                                                  |   |                                             | 23,400      |                           |   | 23,400 |   |
| Loans                  from officers                                           |   |                                             | 61,885      |                           |   | 158,655 |   |
| Deposit                  to acquire common stock                               |   |                                             | 167,480     |                           |   | 130,000 |   |
| Total                  Current Liabilities                                     |   |                                             | 919,061     |                           |   | 702,119 |   |
|                                                                           |   |                                             |        |                           |   |   |   |
| STOCKHOLDERS’                  EQUITY (DEFICIENCY)                       |   |                                             |        |                           |   |   |   |
| Preferred                  stock, authorized 2,000,000 shares;                 |   |                                             |        |                           |   |   |   |
| $0.001                  par value; no shares issued and outstanding            |   |                                             |        |                           |   |   |   |
| Common                  stock, authorized 50,000,000 shares;                   |   |                                             |        |                           |   |   |   |
| $0.001                  par value; 50,000,000 and 43,025,634                   |   |                                             |        |                           |   |   |   |
| shares                  issued and outstanding at April 30, 2007               |   |                                             |        |                           |   |   |   |
| and                  July 31, 2006, respectively                               |   |                                             | 50,000      |                           |   | 43,026 |   |
| Additional                  contributed capital                                |   |                                             | 13,032,620  |                           |   | 12,516,620 |   |
| Deficit                  accumulated during the development stage              |   |                                             | (13,749,405 | )                              |   | (12,492,857 | ) |
|                                                                           |   |                                             |        |                           |   |   |   |
| Stockholders’                  Equity (Deficiency)                       |   |                                             | (666,785    | )                              |   | 66,789 |   |
|                                                                           |   |                                             |        |                           |   |   |   |
| Total                  Liabilities and Stockholders’ Equity (Deficiency) |   | $                                                | 252,276     |                           | $      | 768,908 |   |

----

|                                             |   | For                  the Three Months Ended |       | For                  the Nine Months Ended |   | CumulativeInception(October                    10, 2002) |   |
|--------------------------------------------------|--------|---------------------------------------------|------------|--------------------------------------------|--------|----------------------------------------------------------|--------|
|                                             |   | April                  30,                  |       | April                  30,                 |   | to                  April 30,                            |   |
|                                             |   | 2007                                        |       | 2006                                       |   | 2007                                                     |   | 2006 |   |  2007 |   |
|                                             |   |                                        |       |                                       |   |                                                     |   |   |   |   |   |
| COSTS                  AND EXPENSES              |   |                                        |       |                                       |   |                                                     |   |   |   |   |   |
| Stock                  based compensation        |   |                                        |       |                                       | $      | 25,500                                                   |   |   |   |   | $ | 48,750 |   | $ | 893,750 |   |
| Stock                  issued for services       |   | $                                           | 299,500    |                                       |   | 345,500                                                  |   | $ | 443,925 |   |   | 962,300 |   |   | 10,306,119 |   |
| Amortization                  of consulting fees |   |                                        | 127,172    |                                       |   | 59,063                                                   |   |   | 527,370 |   |   | 79,063 |   |   | 788,473 |   |
| Consulting                  fees                 |   |                                        |       |                                       |   |                                                     |   |   | 8,541 |   |   | 6,000 |   |   | 109,061 |   |
| Consulting                  fees-officers        |   |                                        | 47,400     |                                       |   | 28,050                                                   |   |   | 142,200 |   |   | 150,650 |   |   | 733,651 |   |
| Other                  general office expenses   |   |                                        | 49,315     |                                       |   | 35,198                                                   |   |   | 132,653 |   |   | 107,746 |   |   | 908,428 |   |
| Interest                  expense                |   |                                        | 10         |                                       |   | 221                                                      |   |   | 37 |   |   | 221 |   |   | 3,617 |   |
| Depreciation                                     |   |                                        | 607        |                                       |   | 608                                                      |   |   | 1,822 |   |   | 1,822 |   |   | 6,306 |   |
|                                             |   |                                        |       |                                       |   |                                                     |   |   |   |   |   |   |   |   |   |   |
| Total                  Costs and Expenses        |   |                                        | 524,004    |                                       |   | 494,140                                                  |   |   | 1,256,548 |   |   | 1,356,552 |   |   | 13,749,405 |   |
|                                             |   |                                        |       |                                       |   |                                                     |   |   |   |   |   |   |   |   |   |   |
| NET                  LOSS                        |   | $                                           | (524,004   | )                                          | $      | (494,140                                                 | )      | $ | (1,256,548 | ) | $ | (1,356,552 | ) |   | (13,749,405 | ) |
|                                             |   |                                        |       |                                       |   |                                                     |   |   |   |   |   |   |   |   |   |   |
| NET                  LOSS PER SHARE OF COMMON    |   |                                        |       |                                       |   |                                                     |   |   |   |   |   |   |   |   |   |   |
| STOCK                  (Basic and diluted)       |   | $                                           | (0.01      | )                                          | $      | (0.02                                                    | )      | $ | (0.03 | ) | $ | (0.04 | ) | $ | (0.53 | ) |
|                                             |   |                                        |       |                                       |   |                                                     |   |   |   |   |   |   |   |   |   |   |
| WEIGHTED                  AVERAGE NUMBER OF      |   |                                        |       |                                       |   |                                                     |   |   |   |   |   |   |   |   |   |   |
| COMMON                  SHARES OUTSTANDING       |   |                                        | 48,576,743 |                                       |   | 33,504,634                                               |   |   | 45,338,898 |   |   | 31,946,044 |   |   | 25,977,664 |   |

----

|                                                           |   |                                                 |         |                                    |   | Cumulative                      |   |
|----------------------------------------------------------------|--------|------------------------------------------------------|--------------|-----------------------------------------|--------|---------------------------------|--------|
|                                                           |   |                                                 |         |                                    |   | Inception                       |   |
|                                                           |   | For                  the Nine Months Ended April 30, |         | (October                    10,2002) to |   |
|                                                           |   | 2007                                                 |         | 2006                                    |   | April                  30, 2007 |   |
| CASH                  FLOWS FROM OPERATING ACTIVITIES          |   |                                                 |         |                                    |   |                            |   |
|                                                           |   |                                                 |         |                                    |   |                            |   |
| Net                  loss                                      |   | $                                                    | (1,256,548   | )                                       | $      | (1,356,552                      | )      | $ | (13,749,405 | ) |
| Stock                  based compensation                      |   |                                                 |         |                                    |   | 48,750                          |   |   | 893,750 |   |
| Stock                  issued for services                     |   |                                                 | 443,925      |                                    |   | 962,300                         |   |   | 10,306,119 |   |
| Depreciation                  expense                          |   |                                                 | 1,822        |                                    |   | 1,822                           |   |   | 6,306 |   |
| Amortization                  of consulting fees               |   |                                                 | 527,370      |                                    |   | 79,063                          |   |   | 788,473 |   |
| Operating                  expenses paid by officer            |   |                                                 |         |                                    |   |                            |   |   | 37,045 |   |
| Changes                  in assets and liabilities:            |   |                                                 |         |                                    |   |                            |   |   |   |   |
| Increase                  in accounts payable                  |   |                                                 | 76,519       |                                    |   | 40,373                          |   |   | 232,822 |   |
| Increase                  in accrued consulting                |   |                                                 |         |                                    |   |                            |   |   |   |   |
| fees                  -officers                                |   |                                                 | 136,300      |                                    |   | 151,450                         |   |   | 336,500 |   |
| Increase                  in accrued payroll taxes             |   |                                                 | 11,082       |                                    |   | 2,430                           |   |   | 90,399 |   |
| Increase                  (decrease) in accrued expenses       |   |                                                 | (7,545       | )                                       |   | 7,105                           |   |   | 59,001 |   |
| Increase                  in due to affiliated companies       |   |                                                 | 5,925        |                                    |   | 6,750                           |   |   | 14,925 |   |
| Net                  cash used in operating activities         |   |                                                 | (61,150      | )                                       |   | (56,509                         | )      |   | (984,065 | ) |
|                                                           |   |                                                 |         |                                    |   |                            |   |   |   |   |
| CASH                  FLOWS FROM INVESTING ACTIVITIES          |   |                                                 |         |                                    |   |                            |   |   |   |   |
| Purchase                  of office equipment                  |   |                                                 |    |                                    |   |                       |   |   | (7,287 | ) |
| Net                  cash used in investing activities         |   |                                                 |         |                                    |   |                            |   |   | (7,287 | ) |
|                                                           |   |                                                 |         |                                    |   |                            |   |   |   |   |
| CASH                  FLOWS FROM FINANCING ACTIVITIES          |   |                                                 |         |                                    |   |                            |   |   |   |   |
| Proceeds                  from demand note payable             |   |                                                 |         |                                    |   |                            |   |   | 98,000 |   |
| Payments                  on demand note payable               |   |                                                 |         |                                    |   |                            |   |   | (25,000 | ) |
| Proceeds                  from loan from officer               |   |                                                 | 31,390       |                                    |   | 37,410                          |   |   | 95,700 |   |
| Payments                  on loan from officer                 |   |                                                 | (180         | )                                       |   | (3,300                          | )      |   | (15,880 | ) |
| Proceeds                  from deposit to acquire common stock |   |                                                 | 20,000       |                                    |   | 50,000                          |   |   | 250,000 |   |
| Proceeds                  from issuance of common stock        |   |                                                 |    |                                    |   |                       |   |   | 588,750 |   |
|                                                           |   |                                                 |         |                                    |   |                            |   |   |   |   |
| Net                  cash provided by financing activities     |   |                                                 | 51,210       |                                    |   | 84,110                          |   |   | 991,570 |   |
|                                                           |   |                                                 |         |                                    |   |                            |   |   |   |   |
| Net                  increase (decrease) in cash               |   |                                                 | (9,940       | )                                       |   | 27,601                          |   |   | 218 |   |
|                                                           |   |                                                 |         |                                    |   |                            |   |   |   |   |
| CASH                  AT BEGINNING OF PERIOD                   |   |                                                 | 10,158       |                                    |   | 696                             |   |   |    |   |
|                                                           |   |                                                 |         |                                    |   |                            |   |   |   |   |
| CASH                  AT END OF PERIOD                         |   | $                                                    | 218          |                                    | $      | 28,297                          |   | $ | 218 |   |

----

|                                                             |   | For                  the Nine Months Ended April 30, |         | Cumulative                  Inception (October 10, 2002)to |   |
|------------------------------------------------------------------|--------|------------------------------------------------------|--------------|------------------------------------------------------------|--------|
|                                                             |   | 2007                                                 |         | 2006                                                       |   | April                  30, 2007 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |
| SUPPLEMENTAL                  DISCLOSURE OF CASH FLOW            |   |                                                 |         |                                                       |   |   |   |
| INFORMATION                                                      |   |                                                 |         |                                                       |   |   |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |
| Cash                  paid for interest                          |   | $                                                    | 37           |                                                       | $      | 221 |   | $ | 3,617 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| 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                                                     |   | $                                                    |    |                                                       | $      |  48,750 |   | $ | 893,750 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| Issuance                  of common stock for services           |   | $                                                    | 443,925      |                                                       | $      | 962,300 |   | $ | 10,306,119 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| Demand                  note payable paid by officer             |   | $                                                    |    |                                                       | $      |  50,000 |   | $ | 73,000 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| Issuance                  of common stock for prepaid            |   |                                                 |         |                                                       |   |   |   |   |   |   |
| consulting                  fees                                 |   | $                                                    | 22,500       |                                                       | $      | 576,750 |   | $ | 1,039,250 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| Issuance                  of common stock for payment of         |   |                                                 |         |                                                       |   |   |   |   |   |   |
| accounts                  payable                                |   | $                                                    | 22,500       |                                                       | $      | 39,102 |   | $ | 120,402 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| Payoff                  accrued consulting fees - officer with   |   |                                                 |         |                                                       |   |   |   |   |   |   |
| loan                  payable                                    |   | $                                                    | 45,000       |                                                       | $      | 23,400 |   | $ | 68,400 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| Issuance                  of common stock and reduction of       |   |                                                 |         |                                                       |   |   |   |   |   |   |
| deposits                  to acquire common stock                |   | $                                                    | 110,500      |                                                       | $      |    |   | $ |  210,500 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| Common                  stock in excess of authorized number     |   |                                                 |         |                                                       |   |   |   |   |   |   |
| of                  shares classified as accrued expenses        |   |                                                 |         |                                                       |   |   |   |   |   |   |
| payable                  in common stock                         |   | $                                                    | 121,451      |                                                       | $      |    |   | $ |  121,451 |   |
|                                                             |   |                                                 |         |                                                       |   |   |   |   |   |   |
| Reclassification                  of loans from officers to      |   |                                                 |         |                                                       |   |   |   |   |   |   |
| deposits                  to acquire common stock                |   | $                                                    | 127,980      |                                                       | $      |    |   | $ |  127,980 |   |

----

----

----

----

----

----

| 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.        |
|                               |                                                                                                                              |                                  |
| June              19,              2007 |                                                                                                                              | /s/                Mechael Kanovsky, Ph.D. |
|                                    | Mechael                Kanovsky, Ph.D.President                and Chief Executive Officer(Principal                Executive Officer) |

|                                    |                                                                                                                                                                 |                              |
|-----------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------|
| June              19,              2007 |                                                                                                                                                            | /s/                  Simcha Edell |
|                                    | Simcha                  EdellChief                  Financial Officer(Principal                  Financial Officer and PrincipalAccounting                  Officer) |

----