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**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**FORM      10-KSB/A**

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

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

**AIR      BROOK AIRPORT EXPRESS, INC.**

|                                    |   |                                                |
|-----------------------------------------|--------|-----------------------------------------------------|
| DELAWARE                                |   | 22-2742564                                          |
| (State                of incorporation) |   | (I.R.S.                Employer Identification No.) |

| 115                WEST PASSAIC STREET, ROCHELLE PARK, NEW JERSEY |   | 07662                     |
|-------------------------------------------------------------------|--------|---------------------------|
| (Address                of principal executive offices)           |   | (Zip                Code) |

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**Table            of Contents**

INDEX

|                          |                                                                                                                    |   |
|-------------------------------|-------------------------------------------------------------------------------------------------------------------------|--------|
| **PART                  I**   |                                                                                                                    |
|                          |                                                                                                                    |   |
| Item                  1.      | Business                                                                                                                | 1      |
| Item                  2.      | Properties                                                                                                              | 2      |
| Item                  3.      | Legal                  Proceedings                                                                                      | 2      |
| Item                  4.      | Submission                  of Matters to a Vote of Security                  Holders                                   | 2      |
|                          |                                                                                                                    |   |
| **PART                  II**  |                                                                                                                    |
|                          |                                                                                                                    |   |
| Item                  5.      | Market                  for Registrant's Common Equity and Related                  Stockholder Matters                 | 2      |
| Item                  6.      | Management's                  Discussion and Analysis of Financial Condition                  and Results of Operations | 3      |
| Item                  7.      | Consolidated                  Financial Statements                                                                      | 4      |
|                          |                                                                                                                    |   |
| **PART                  III** |                                                                                                                    |
|                          |                                                                                                                    |   |
| Item                  8.      | Changes                  In and Disagreements with Accountants on Accounting                  and Financial Disclosure  | 5      |
| Item                  9.      | Directors                  and Executive Officers of the                  Registrant                                    | 5      |
| Item                  10.     | Executive                  Compensation                                                                                 | 6      |
| Item                  11.     | Security                  Ownership of Certain Beneficial Owners and                  Management                        | 6      |
| Item                  12.     | Certain                  Relationships and Related                  Transactions                                        | 7      |
| Item                  13.     | Certification                  of Officers                                                                              | 8      |
|                          |                                                                                                                    |   |
| **PART                  IV**  |                                                                                                                    |
|                          |                                                                                                                    |   |
| Item                  14.     | Exhibits,                  Financial Statement Schedules and Reports on Form                  8K                        | 8      |

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**Table            of Contents**

**Part      I**

**Item      1. Business**

**The      Satellite Terminals**

**Competition**

**Employees**

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**Table          of Contents**

**Item      2. Properties**

**Item      3. Legal Proceedings**

**Item      4. Submission of Matters to a Vote of Security      Holders**

**Part      II**

**Item      5. Market for Registrant's Common Equity and Related Stockholder      Matters**

| (a) | As                of October 31, 2005, the Registrant's Common Stock is traded in the                over-the-counter market. The range of high and low bid quotations,                as                reported by the National Quotation Bureau Incorporated, for the                Registrant's securities for years ended October 31, 2005 and 2004,                are as                follows: |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                 |   | Common                  Stock |   |
|------------------------------------------------------|--------|-------------------------------|--------|
|                                                 |   | Bid                           |   |
|                                                 |   | High                          |   | Low |   |
| Year                  Ended October 31, 2004         |   |                          |   |   |   |
| Three                  months ended January 31, 2004 |   |                          | .07    |   |   | .04 |   |
| Three                  months ended April 30, 2004   |   |                          | .07    |   |   | .07 |   |
| Three                  months ended July 31, 2004    |   |                          | .07    |   |   | .07 |   |
| Three                  months ended October 31, 2004 |   |                          | .07    |   |   | .07 |   |
|                                                 |   |                          |        |   |   |  |   |
| Year                  Ended October 31, 2005         |   |                          |        |   |   |  |   |
| Three                  months ended January 31, 2005 |   |                          | .17    |   |   | .07 |   |
| Three                  months ended April 30, 2005   |   |                          | .16    |   |   | .12 |   |
| Three                  months ended July 31, 2005    |   |                          | .12    |   |   | .05 |   |
| Three                  months ended October 31, 2005 |   |                          | .075   |   |   | .05 |   |

| (b) | As                of October 31, 2005, the approximate number of holders of record                of the                Registrant's Common Stock  was                132. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | The                Registrant has never paid cash dividends on its Common Stock. Payment                of                dividends is within the  sole                discretion of the Registrant's Board of Directors and depends, among                other                factors, on earnings,  capital                requirements and the operating and financial condition of the                Registrant. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**Table          of Contents**

**Item      6. Management's Discussion and Analysis of Financial Condition      and Results of Operations**

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**Table          of Contents**

**Item      7. Consolidated Financial      Statements.**

| Independent                  Auditor’s Report                                |   |   | F-1                        |   |
|------------------------------------------------------------------------------------|--------|--------|----------------------------|--------|
|                                                                               |   |   |                       |   |
| Consolidated                  balance sheet                                        |   |   |                       |   |
| October                  31, 2005                                                  |   |   | F-2                        |   |
|                                                                               |   |   |                       |   |
| Consolidated                  statements of income                                 |   |   |                       |   |
| For                  the years ended October 31, 2005 and 2004                     |   |   | F-3                        |   |
|                                                                               |   |   |                       |   |
| Consolidated                  statements of changes in stockholders’ deficit |   |   |                       |   |
| For                  the years ended October 31, 2005 and 2004                     |   |   | F-4                        |   |
|                                                                               |   |   |                       |   |
| Consolidated                  statements of cash flows                             |   |   |                       |   |
| For                  the years ended October 31, 2005 and 2004                     |   |   | F-5                        |   |
|                                                                               |   |   |                       |   |
| Notes                  to consolidated financial statements                        |   |   | F-6                  - F-9 |   |

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**Table          of Contents**

**ROBERT      G. JEFFREY**

**61      BERDAN AVENUE**

**WAYNE,      NEW JERSEY 07470**

| LICENSED              TO PRACTICE  |   | TEL: 973-628-0022                 |
|-----------------------------------------|--------|---------------------------------------------|
| IN              NEW YORK AND NEW JERSEY |   | FAX:              973-696-9002         |
| MEMBER OF AICPA                         |   | E-MAIL:              rgjcpa@erols.com  |
| PRIVATE COMPANIES PRACTICE SECTION      |   |                                        |

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**Table          of Contents**

| ASSETS                                                                                                                                                  |   |    |                 |
|---------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|----------------------|
| Current              assets                                                                                                                             |   |    |                 |   |
| Cash                                                                                                                                                    |   | $  |  96             |   |
| Deferred                tax asset                                                                                                                       |   |    | 7,500                |   |
| Total                current assets                                                                                                                     |   |    | 7,596                |   |
|                                                                                                                                                    |   |    |                 |   |
| Deposits                                                                                                                                                |   |    | 650                  |   |
|                                                                                                                                                    |   |    |                 |   |
| Total                assets                                                                                                                             |   | $       | 8,246                |   |
|                                                                                                                                                    |   |    |                 |   |
| LIABILITIES                AND STOCKHOLDERS' DEFICIT                                                                                                    |   |    |                 |   |
|                                                                                                                                                    |   |    |                 |   |
| Current                liabilities:                                                                                                                     |   |    |                 |   |
| Accounts                payable                                                                                                                         |   | $       | -                0 - |   |
| Accrued                expenses                                                                                                                         |   |    | -                0 - |   |
| Due                to affiliate                                                                                                                         |   |    | 414,437              |   |
|                                                                                                                                                    |   |    |                 |   |
| Total                current liabilities                                                                                                                |   |    | 414,437              |   |
|                                                                                                                                                    |   |    |                 |   |
| Stockholders'                deficit:                                                                                                                   |   |    |                 |   |
| Common                stock, $.0001 par value: 98,800,000 shares authorized;                                                                            |   |    |                 |   |
| 2,427,922                issued and outstandingPreferred                stock, $.0001 par value:1,200,000                shares authorized; none issued |   |    | 243                  |   |
| Additional                paid-in capital                                                                                                               |   |    | 425,146              |   |
| Accumulated                deficit                                                                                                                      |   |    | (831,580             | ) |
|                                                                                                                                                    |   |    |                 |   |
| Total                stockholders' deficit                                                                                                              |   |    | (406,191             | ) |
|                                                                                                                                                    |   |    |                 |   |
| Total                liabilities and stockholders' deficit                                                                                              |   | $       | 8,246                |   |

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**Table          of Contents**

|                                                              |   | 2005   |      | 2004   |   |
|-------------------------------------------------------------------|--------|--------|-----------|--------|--------|
| Revenue                                                           |   | $      | 59,047    |   | $      | 61,668 |   |
| Expenses:                                                    |   |   |      |   |   |   |   |
| General,              administrative and operating                |   |   | 6,680     |   |   | 12,449 |   |
| Income              before income taxes                           |   |   | 52,367    |   |   | 49,219 |   |
| Provision                for income taxes                         |   |   | 3,300     |   |   |   |   |
| Net                income                                         |   | $      | 49,067    |   | $      | 49,219 |   |
|  Basic                and diluted earnings per common share: |   | $      | .02       |   | $      | .02 |   |
|                                                              |   |   |      |   |   |   |   |
| Weighted                average number of shares outstanding      |   |   | 2,427,922 |   |   | 2,427,922 |   |
|                                                              |   |   |      |   |   |   |   |

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**Table          of Contents**

|                                                            |   | Shares |      | CommonStockAmount |   | AdditionalPaid-in                  Capital |   | AccumulatedDeficit |    | Total                  Stockholders'Deficit |   |
|-----------------------------------------------------------------|--------|--------|-----------|-------------------|--------|--------------------------------------------|--------|--------------------|---------|---------------------------------------------|--------|
| Balances,                  October 31, 2003                     |   |   | 2,427,922 |              | $      | 243                                        |   | $                  | 425,146 |                                        | $      | (929,866 | ) | $ | (504,477 |   |
| Net                  income for the year ended October 31, 2004 |   |   |      |              |   |                                       |   |               |    |                                        |   | 49,219 |   |   | 49,219 |   |
| Balances,                  October 31, 2004                     |   |   | 2,427,922 |              |   | 243                                        |   |               | 425,146 |                                        |   | (880,647 | ) |   | (455,258 |   |
| Net                  income for the year ended October 31, 2005 |   |   |      |              |   |                                       |   |               |    |                                        |   | 49,067 |   |   | 49,067 |   |
| Balances,                  October 31, 2005                     |   |   | 2,427,922 |              | $      | 243                                        |   | $                  | 425,146 |                                        | $      | (831,580 | ) | $ | (406,191 |   |

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**Table          of Contents**

|                                                                                                                |   | 2005   |                   | 2004   |   |
|---------------------------------------------------------------------------------------------------------------------|--------|--------|------------------------|--------|--------|
| CASH                  FLOWS FROM OPERATING ACTIVITIES:                                                              |   |   |                   |   |   |
| Net                  income                                                                                         |   | $      | 49,067                 |   | $      | 49,219 |   |
| Adjustments                  to reconcile net income to net cash provided by operating                  activities: |   |   |                        |   |   |  |   |
| Adjustment                  for charges not requiring the outlay of cash:                                           |   |   |                        |   |   |  |   |
| Provision                  for income taxes                                                                         |   |   | 3,300                  |   |   | -                  0 - |   |
| Changes                  in current liabilities:                                                                    |   |   |                        |   |   |  |   |
| Decrease                  in amount due to affiliate                                                                |   |   | (52,332                | )      |   | (49,374 | ) |
| Decrease                  in accounts payable and accrued expenses                                                  |   |   | -                  0 - |   |   | -                  0 - |   |
| Net                  cash flows provided by operating activities                                                    |   |   | 35                     |   |   | (155 | ) |
| CASH                  FLOWS FROM INVESTING ACTIVITIES                                                               |   |   | —                |   |   | — |   |
| CASH                  FLOWS FROM FINANCING ACTIVITIES                                                               |   |   | —                |   |   | — |   |
| Increase/(Decrease)                  in cash                                                                        |   |   | 35                     |   |   | (155 | ) |
| Cash,                  beginning of period                                                                          |   |   | 61                     |   |   | 216 |   |
| Cash,                  end of period                                                                                |   | $      | 96                     |   | $      | 61 |   |
|                                                                                                                |   |   |                        |   |   |  |   |

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**Table          of Contents**

| NOTE                    1 |   | ORGANIZATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |   | Air                    Brook Airport Express, Inc. (“the Company”) was incorporated in the State                    of Delaware on April 3, 1986 under the name Bay Head Ventures,                    Inc. The                    Company changed to the present name on December 8, 1988. The                    Company was                    formed primarily to investigate potential merger candidates,                    asset                    purchases and other possible business acquisitions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |   | On                    July 29, 1988 the Company acquired 100% of the issued and outstanding                    shares of A.B. Park & Fly, Inc. ("Abex"), by issuing 1,010,000 shares                    of common stock to the sole shareholder of Abex. Abex is a New                    Jersey                    Corporation incorporated on December 9, 1987. Until 1991, it                    provided                    direct bus service to and from a local airport.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |   | At                    October 31, 2005, approximately twenty three percent of the Company's                    outstanding common stock was owned by a publicly held                    Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |   | BUSINESS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |   | The                    Company continues to seek business acquisitions, but its primary                    activities are the realization of commissions from the operation                    by an                    affiliate of two airport ground transportation terminals in Bergen                    County.                    These terminal operations transport passengers to and from Newark                    Airport.                    The Company is dependent on this affiliate for its revenue and                    for the                    financing of day-to-day operations. These arrangements are described                    in                    Notes 4 and 8.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| NOTE                    2 |   | GOING                    CONCERN UNCERTAINTY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   | The                    accompanying consolidated financial statements have been prepared                    assuming                    that the Company will continue as a going concern. As shown in                    the                    consolidated financial statements, the Company had a material                    working                    capital deficiency and an accumulated deficit at October 31,                    2005.                    Additionally, the Company receives significant financial support                    and                    generates all of its revenue from an affiliated entity, Air Brook                    Limousine, Inc. ("Air Limo"), pursuant to agreements dated February                    4,                    1991 and May 1, 1993 (See Note 5). These factors raise substantial                    doubt                    about the ability of the Company to continue as a going concern.                    The                    consolidated financial statements do not include adjustments                    relating to                    the recoverability of assets and classification of liabilities                    that might                    be necessary should the Company be unable to continue in operation                    with                    its affiliate. |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |   | The                    Company's present plans, the realization of which cannot be assured,                    to                    overcome these difficulties include but are not limited to the                    continuing                    effort to investigate business acquisition and merger                    opportunities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| NOTE                    3 |   | SUMMARY                    OF SIGNIFICANT ACCOUNTING POLICIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |   | Consolidated                    Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                      |   | The                    consolidated financial statements include the accounts of the                    Company and                    its wholly owned subsidiary, Abex. All significant intercompany                    balances                    and transactions have been eliminated in                    consolidation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

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**Table              of Contents**

| NOTE                    3 |   | SUMMARY                    OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | b.                    Cash                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | For                    purposes of the Statement of Cash Flows, the Company considers                    all                    short-term debt securities purchased with a maturity of three                    months or                    less to be cash equivalents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | c.                    Fair                    Value of Financial Instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | The                    carrying amounts of the Company’s financial instruments, which include                    cash equivalents and current liabilities, approximate their fair                    values at                    October 31, 2005.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | d.                    Earnings                    Per Share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | Basic                    and diluted net income per common share is computed by dividing                    the net                    income available to common shareholders for the period by the                    weighted                    average number of shares of common stock outstanding during the                    period.                    The number of weighted average shares outstanding as well as                    the amount of                    net income per share is the same for basic and diluted per share                    calculations for all periods reflected in the accompanying financial                    statements.                                                                                                                                                        |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | e.                    Income                    Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | The                    Company accounts for income taxes in accordance with Statement                    of                    Financial Accounting Standards No. 109 "Accounting for Income                    Taxes",                    which requires the use of the "liability method". Accordingly,                    deferred                    tax liabilities and assets are determined based on differences                    between the                    financial statement and tax bases of assets and liabilities,                    using enacted                    tax rates in effect for the year in which the differences are                    expected to                    reverse. Current income taxes are based on the income that is                    currently                    taxable. |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | f.                    Use                    of Estimates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | The                    preparation of financial statements in conformity with generally                    accepted                    accounting principles requires management to make estimates and                    assumptions that affect certain reported amounts and disclosures.                    Accordingly, actual results could differ from those                    estimates.                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | g.                    Advertising                    Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | The                    Company expenses advertising costs when the advertisement occurs.                    There                    were no expenditures for advertising during the years ended October                    31,                    2005 or 2004.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | h.                    Segment                    Reporting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | Management                    treats the operation of the Company and its subsidiary as one                    segment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | i.                    Recognition                    of Revenue                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   | Revenue                    is realized from commissions on sales at the Satellite Terminals                    and is                    recognized on the accrual basis. Recognition occurs daily, upon                    receipt of                    daily reports of sales of the Satellite Terminals.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

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**Table              of Contents**

| NOTE                    4 |   | RELATED                    PARTY TRANSACTIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      |   | Pursuant                    to two 1991 agreements, Abex transferred all of its transportation                    equipment and the operating activities of a ground transportation                    facility                    in Ridgewood, New Jersey to its affiliate, Air Limo. Air Limo                    in return                    has agreed to pay Abex a fee equal to ten (10%) percent of gross                    collections from such facility.                                                                                                                                                                                                                                                             |
|                      |   | On                    May 1, 1993, Abex entered into an agreement with Air Limo concerning                    a                    second Satellite Terminal operated by Air Limo in the Borough                    of Montvale.                    Pursuant to this agreement, Air Limo bears all costs of operating                    the                    facility and pays Abex three percent (3%) of the gross receipts                    generated                    by the facility.                                                                                                                                                                                                                                 |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   | Air                    Limo has stated its intention to advance funds on behalf of the                    Company                    and its subsidiary as long as Air Limo deems this necessary and                    as long as                    Air Limo is financially able to do so. Such advances are due                    on demand and                    Air Limo may terminate this arrangement at any time.                                                                                                                                                                                                                                                                                                      |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   | The                    Company's principal offices are in a building owned by its president.                    The                    Company occupies these offices on a month-to-month basis, free                    of                    charge.                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| NOTE                    5 |   | DUE                    TO AFFILIATE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   | As                    of October 31, 2005, there was a balance due to Air Limo of $414,437,                    the                    net amount of advances made by Air Limo partially offset by earnings                    on                    the contracts for the operation of the two terminals. This balance                    bears                    no interest and is payable on demand.                                                                                                                                                                                                                                                                                                                         |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| NOTE                    6 |   | NCOME                    TAXES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   | The                    Company and its subsidiary have each experienced significant                    net operating                    losses in previous years. As a result, neither has incurred Federal                    income                    taxes during the years ended October 31, 2005 or 2004. The available                    net                    operating losses totaled approximately $120,000 at October 31,                    2005. These                    losses can be carried forward and deducted in any year in which                    the                    Companies have taxable income. If not used, these carryforwards                    will                    expire as follows: |

| 2006 |   |   | 120,000 |   |
|------|--------|--------|---------|--------|

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**Table                of Contents**

| NOTE                    6 |   | INCOME                    TAXES (Cont’d)                                                                                                                                                                                                                                                                                                                                   |
|---------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      |   |                                                                                                                                                                                                                                                                                                                                                                             |
|                      |   | Under                    Statement of Financial Accounting Standards No. 109, recognition                    of                    deferred tax assets is permitted unless it is more likely than                    not that                    the assets will not be realized. The Company has recorded deferred                    tax                    assets as follows: |

|                                     |   | Current |   |
|------------------------------------------|--------|---------|--------|
| Deferred                    Tax Assets   |   | $       | 18,000 |   |
| Realization                    Allowance |   |    | 10,500 |   |
| Balance                    Recognized    |   | $       | 7,500  |   |

|                                                                    |   |   |    |   |   |
|-------------------------------------------------------------------------|--------|--------|---------|--------|--------|
|                                                                    |   | 2005   |    | 2004   |   |
| Provision                      based on statutory tax rates             |   | $      | 7,855   |   | $      | 7,382 |   |
| Less,                      deferred tax benefit from use of NOL’S |   |   | 7,855   |   |   | 7,382 |   |
|                                                                    |   |   | — |   |   | — |   |
| Adjustment                      for correction of prior year provisions |   |   | 3,300   |   |   | — |   |
| Net                      tax provision                                  |   | $      | 3,300   |   | $      | — |   |

| NOTE                    7 |   | SUPPLEMENTAL                    DISCLOSURES OF CASH FLOWS INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                      |   | Revenue                    recognition produces a reduction of the obligation to Air Limo.                    In                    addition, most Company expenses are paid by Air Limo and the                    obligation is                    increased. These transactions resulted in a net reduction of                    the                    obligation to Air Limo during the year ended October 31, 2005                    of $52,332.                    The obligation was reduced $49,374 during the year ended October                    31, 2004.                    There were no noncash investing and financing activities during                    either                    year. |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                      |   | There                    was no cash paid for interest or taxes during these                    years.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| NOTE                    8 |   | COMMITMENTS                    AND CONTINGENCIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                      |   | a.                    Dependence                    on Affiliate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                      |   | Air                    Limo advances funds on behalf of the Company and its subsidiary                    to finance                    day-to-day operations. This arrangement could be terminated at                    any time by                    Air Limo, and these advances are due on demand. In addition,                    all Company                    revenue comes from commissions on revenue of the two facilities                    operated                    by Air Limo.                                                                                                                                                                                                             |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                      |   | b.                    Dependence                    on Lease Terms                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                      |   | The                    Ridgewood terminal, which is operated by Air Limo, is leased                    by Air Limo                    from the village of Ridgewood, New Jersey. This facility produced                    90% of                    Company revenue during the year ended October 31, 2005. The initial                    lease                    term expired January 1, 1999.                                                                                                                                                                                                                                                                                                              |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|                      |   | The                    lease term of the Montvale facility will terminate January 31,                    2011.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

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**Table            of Contents**

**PART      III**

**Item      8.****Changes      in and Disagreements with Accountants on Accounting and Financial      Disclosure****.**

**Item      8A. **
**Controls      and Procedures**
**.**

| (i)   | this              annual report on Form 10-KSB contains any untrue statement of a material              fact or omits to state a material fact necessary to make the statements              made, in light of the circumstances under which such statements were              made,              not misleading with respect to the period covered by this annual report              on              Form 10-KSB, and |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | the              financial statements, and other financial information included in this              annual report on Form 10-KSB, fairly present in all material respects              the              financial condition, results of operations and cash flows of the Company              as of, and for, the periods presented in this annual report on Form              10-KSB. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item      9. Directors and Executive Officers of the      Registrant**

| Name                                 |   | Position                                                      |   | Term-Served                  Since |
|--------------------------------------|--------|---------------------------------------------------------------|--------|------------------------------------|
|                                 |   |                                                          |   |                               |
| Donald                  M. Petroski  |   | President,                  Chief Financial Officer, Director |   | July,                  1988        |
|                                 |   |                                                          |   |                               |
| Jeffrey                  M. Petroski |   | Secretary                                                     |   | August,                  1989      |

**Donald      M. Petroski**

**Jeffrey      M. Petroski**

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**Table          of Contents**

**Item      10. Executive Compensation**

**Item      11. Security Ownership of Certain Beneficial Owners and      Management**

|                                     |   | Amount                  and Nature |      |                          |   |
|------------------------------------------|--------|------------------------------------|-----------|-------------------------------|--------|
| Name                  and Address        |   | of                  Beneficial     |      | Percent                       |   |
| of                  Beneficial Owner     |   | Ownership                          |      | of                  Class (l) |   |
| Donald                  M. Petroski (2)  |   |                               | 1,315,397 |                          |   | 54.2 |   |
| P.O.                  Box 123            |   |                               | President |                          |   |  |   |
| 115                  West Passaic Street |   |                               |           |                          |   |  |   |
| Rochelle                  Park, NJ       |   |                               |           |                          |   |  |   |
|                                     |   |                               |           |                          |   |  |   |
| New                  America Group, Inc. |   |                               | 550,500   |                          |   | 22.6 |   |
| 513                  Main Avenue         |   |                               |           |                          |   |  |   |
| Bay                  Head, NJ            |   |                               |           |                          |   |  |   |

| (1) | Based                upon 2,427,922 shares of Common Stock outstanding as of October 31,                2005. |
|-----|---------------------------------------------------------------------------------------------------------------|

| (2) | Donald                M. Petroski's shares include 1,010,000 shares owned by Mr. Petroski,                277,422 shares owned by Air Limo, 27,850 shares owned by his son, Jeffrey                M. Petroski, and 125 shares owned by his wife, Barbara                Petroski. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | Security                Ownership of Management: |
|-----|--------------------------------------------------|

|   Title                of Class                        |   |  Name                and Addressof                Beneficial Owner |                                                                | Amount                ofof                Beneficial Ownership |   |  Percent                of Class(1) |   |
|------------------------------------------------------------------|--------|-------------------------------------------------------------------------|---------------------------------------------------------------------|----------------------------------------------------------------|--------|------------------------------------------|--------|
| Common                Stock$.0001                par value       |   |                                                                    | Donald                M. PetroskiPresident,                Director |                                                           |   | 1,010,000                                |   |   | 41.6 | % |
|  Common                Stock$.0001                par value |   |                                                                    | Air                Brook Limousine                                  |                                                           |   | 277,422                                  |   |   | 11.4 | % |
|  Common                Stock$.0001                par value |   |                                                                    | Jeffrey                M. PetroskiSecretary                         |                                                           |   | 27,850                                   |   |   | 1.2 | % |
|  Common                Stock$.0001                par value |   |                                                                    | Barbara                Petroski                                     |                                                           |   | 125                                      |   |   | — |   |
| Total                                                            |   |                                                                    |                                                                |                                                           |   | 1,315,397                                |   |   | 54.2 | % |

| (1)   | Based              upon 2,427,922 shares of Common Stock outstanding as of October 31,              2005. |
|-----------------|-----------------------------------------------------------------------------------------------------------|

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**Table          of Contents**

**Item      12. Certain Relationships and Related      Transactions**

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**Table          of Contents**

**Item      13. Certification of Officers**

| 1.   | Each              officer has reviewed this annual report 10-KSB of Air Brook Airport              Express, Inc. |
|----------------|------------------------------------------------------------------------------------------------------------------|

| 2.   | Based              upon the knowledge of each officer, this report does not contain any              untrue statement of a material fact or omit to state a material fact              necessary to make the statements made, in light of the circumstances              under              which such statements were made, not misleading with respect to the              period              covered by this report. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | Based              on each officer’s knowledge, the financial statements and other financial              information included in this report, fairly present in all material              respects the financial condition and results of operations and cash              flows              of the registrant as of, and for, the periods presented in this annual              report. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | The              officers signing below are responsible for establishing and maintaining              disclosure controls and procedures (as defined in Exchange Act Rules              13a -              15(e) and 15d 15(e)) for the registrant and              have: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| a.   | Designed              such disclosure controls and procedures to be designed under their              supervision, to ensure that material information relating to the              registrant, including its consolidated subsidiary, is made known to              them              by others within those entities, particularly during the period in              which              this report is being prepared; |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b.   | Evaluated              the effectiveness of the registrant’s disclosure controls and procedures,              and presented in this report their conclusions about the effectiveness              of              the disclosure and procedures, as of the end of the period covered              by this              report based on such evaluation; |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c.   | Disclosed              in this report any change in the registrant’s internal control over              financial reporting that occurred during the registrant issuer’s most              recent fiscal quarter (the registrant’s fourth fiscal quarter in the case              of this annual report) that has materially affected, or is reasonably              likely to materially affect, the registrant’s internal control over              financial reporting; and |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | The              registrant’s certifying officers signing below have disclosed, based on              their most recent evaluation of internal control over financial reporting,              to the registrant’s auditors and the audit committee of the registrant’s              board of directors (or persons performing the equivalent              function): |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| a.   | All              significant deficiencies and material weaknesses in the design or              operation of internal controls over financial reporting which are              reasonably likely to adversely affect the registrant’s ability to record,              process, summarize and report financial information;              and |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b.   | Any              fraud, whether or not material, that involves management or other              employees who have a significant role in the registrant’s internal control              over financial reporting. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Part      IV**

**Item      14. Exhibits, Financial Statement Schedules, and Reports on      Form 8K**

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**Table          of Contents**

**SIGNATURES**

|                                             |   | AIR BROOK AIRPORT EXPRESS, INC., AND              SUBSIDIARY (Registrant)  |
|--------------------------------------------------|--------|---------------------------------------------------------------------------------|
|                                             |   |                                                                            |
| Dated: December              22, 2006  |   | By:/Donald M.              Petroski                                        |
|                                             |   | DONALD M. PETROSKI                                                         |
|                                             |   | President                                                                  |
|                                             |   |                                                                            |
|                                             |   | By:/Donald M.              Petroski                                        |
|                                             |   | DONALD M. PETROSKI                                                         |
|                                             |   | Chief Financial              Officer                                       |

| December 22, 2006  |   | /s/ Donald M.              Petroski                |
|-------------------------|--------|---------------------------------------------------------|
|                    |   | DONALD M. PETROSKI,              President,        |
|                    |   | Chief Financial Officer and              Director  |
|                    |   |                                                    |
| December 22, 2006       |   | /s/ Jeffrey M.              Petroski               |
|                    |   | JEFFREY                M. PETROSKI, Secretary           |

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