Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B contained in this form, and no disclosure will be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. o

Prior to November 7, 2003, Organetix, Inc. (the “Company”) was in the direct mail business and was named Diamond International Group, Inc. However, on such date, pursuant to a share exchange agreement among Diamond, Organetix, Inc. and all of the shareholders of Organetix (“Exchange Agreement"), Diamond acquired all of the shares of Organetix, Inc. from its shareholders in consideration for the issuance of 64,000,000 restricted shares of Diamond to the Organetix, Inc. shareholders (this transaction is referred to herein as the “Exchange”). Pursuant to the Exchange Agreement: (i) Organetix, Inc. became a wholly-owned subsidiary of Diamond; (ii) Diamond divested itself of all of its pre-Exchange assets to the pre-Exchange shareholders; (iii) Diamond changed its name to Organetix, Inc.; (iv) Diamond changed its symbol to “OGTX.OB”; and (v) Sylvio Martini resigned as the sole director and officer of the Company and L.B. (Brad) Clarke was appointed to the Board of Directors and named as President, Chief Executive Officer and Chief Financial Officer of Diamond. On August 16, 2006, Mr. Clarke appointed David F. Hostelley to the board of directors and subsequently resigned from all officer and director positions. The present company shall sometimes be referred to as Organetix or the Company.

The Company is not a party to any material pending legal proceedings or government actions, including any bankruptcy, receivership, or similar proceedings. Management of the Company does not believe that there are any proceedings to which any director, officer, or affiliate of the Company, any owner of record of the beneficially or more than five percent of the common stock of the Company, or any associate of any such director, officer, affiliate of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company.

(a) The Company's common stock is traded on the OTC-Bulletin Board under the symbol OGTX.OB. The following sets forth the range of the closing bid prices for the Company's common stock for the period January 1, 2006 through April 25, 2007. Such prices represent inter-dealer quotations, do not represent actual transactions, and do not include retail mark-ups, mark-downs or commissions. Such prices were determined from information provided by a majority of the market makers for the Company's common stock.

(c)

No cash dividends were declared by the Company during the fiscal year ended December 31, 2006. While the payment of dividends rests within the discretion of the board of directors, it is not anticipated that cash dividends will be paid in the foreseeable future, as the Company intends to retain earnings, if any, for use in the development of its business. The payment of dividends is contingent upon the Company's future earnings, if any, the Company's financial condition and its capital requirements, general business conditions and other factors.

It should be noted that this Management's Discussion and Analysis of Financial Condition and Results of Operations may contain "forward-looking statements." The terms "believe," "anticipate," "intend," "goal," "expect," and similar expressions may identify forward-looking statements. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including the Company's dependence on weather-related factors, introduction and customer acceptance of new products, the impact of competition and price erosion, as well as supply and manufacturing restraints and other risks and uncertainties. The foregoing list should not be construed as exhaustive, and the Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation that the strategy, objectives or other plans of the Company will be achieved. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.

On April 10, 2006, Organetix retained Meyler & Company LLC as its independent accountants and informed Lazar Levine & Felix LLP ("Lazar") its previous independent accountants, that it was no longer using their services. Other than a going concern qualification, Lazar's reports on the financial statements of the Company for the past two years did not contain an adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principals. During our two most recent fiscal years ended December 31, 2006 and subsequent interim period through April 10, 2006 (the date of the termination) there were no disagreements with our former accountant on any matter of accounting principals or practices, financial statement disclosure, or auditing scope or procedure. The decision to change accountants was approved by our board of directors.

On August 18, 2006, AMMA Corporation, as a representative of certain of the Company’s shareholders (collectively, “Sellers”) agreed to sell their shares to certain purchasers pursuant to the terms of the stock purchase agreement dated that day (“Stock Purchase Agreement”). The Stock Purchase Agreement required, among other things, that the current board of directors appoint Dr. David F. Hostelley to serve as the Company’s President and Chairman of the board of directors and immediately after Dr. Hostelley’s appointment, the remaining officers and directors resign from all positions. The consideration paid to the Sellers was: (i) $422,500 and (ii) the majority of the Company’s assets.

On September 26, 2006, the Company entered into a non-binding letter of intent with Volius, Inc. (“Volius”) whereby the Company agreed to acquire all of Volius’ assets in exchange for 50.5% of the company’s shares of common stock or approximately 63,511,270 shares on a fully-diluted basis and further raise between $4 and $6 million dollars to fund the operations of the proposed company on mutually agreeable terms. During discussions with Volius, it became apparent to both Volius and the Company that it would be difficult, if not impossible, to agree on the amount of capital to be raised, the valuation of Volius and the timing of the ultimate transaction. Also during that period, the Company was introduced to ADAO Telecom, Inc., a privately held Florida corporation (“ADAO”) and concluded that ADAO was a better fit with shareholders' goals of acquiring a business with dynamic opportunities. On January 18, 2007, the Company terminated its letter of intent to acquire Volius.

On January 24, 2007, Organetix executed a definitive agreement to acquire ADAO. ADAO is a telephony engineering and design firm specializing in the development of cellular technologies that target the low-end user market segment. The transaction is expected to close in the 2^nd calendar quarter of 2007 (“Closing”). The Company is required to invest an aggregate of $300,000 in ADAO prior to the closing, which shall be used specifically to develop a prototype to be owned by the Company. Upon successful completion of the prototype and other conditions in the proposed exchange transaction, at Closing, the Company shall issue 73,500,000 ($.0001 par value per share) restricted shares of common stock of the Company equal to approximately 53.5% of the outstanding shares of common stock to the shareholders of ADAO. As further consideration, the Company has agreed that, subsequent to Closing, it will increase its authorized number of shares of common stock from 150,000,000 to 300,000,000 and change its name to ADAO Wireless, Inc. ADAO will then receive an additional 17,000,000 shares of the Company’s common stock. Assuming the Closing has occurred and the Company has completed the necessary steps to increase the authorized number of shares of common stock, agents of the Company have agreed to make their best efforts to raise between $3,500,000 and $4,500,000.

On February 15, 2007, Organetix entered into non-exclusive agreements with Ambassador Thomas Graham, Jr., Mr. David Lewis and Mr. Aaron Foley to serve on the Company’s Board of Advisors. However, subsequent to that date, Ambassador Graham and the Corporation mutually agreed to terminate that agreement, and as a result, Ambassador Graham is not a member of the Company’s Board of Advisors. Thus, the Company’s Board of Advisors consists of Messrs. Lewis and Foley and each shall serve until the earlier of February 15, 2009 or the date that either Advisor is removed from the Board. As compensation for participation on the Board of Advisors, each member received 500,000 shares of the Company’s common stock.

We are currently in the development stage and have generated no revenues to date. Our activities from inception to August 2006 were related to our formation, preparation of our business model, arranging and planning financing and the acquiring all rights, title and interest in the A4+L compound. During 2003 the Company completed a reverse acquisition of Diamond International Group Inc., changed its name to Organetix, Inc., changed its OTC-BB symbol to OGTX and began a new harvest of materials necessary to begin formulating new bulk inventories of the A4+L liver product in 2004. We have financed our operations to date through the sale of our securities and affiliates of our shareholders have provided administrative services for which we have been billed. Since August 2006 we have been considering various business transactions and believe the ADAO acquisition, if successfully completed, will result in substantial shareholder value.

Operating costs for the twelve-month period ended December 31, 2005 aggregated $1,269,359. This includes costs incurred in research and development of $449,099, consulting fees of $187,000 and marketing and public relations fees in the amount of $169,256. As a result of the above, we realized a cumulative loss of $(1,269,359) or $(0.01) per share.

Operating costs for the twelve-month period ended December 31, 2006 aggregated $1,114,370. This includes costs incurred in a loss that occurred on disposition of assets of $592,861, consulting fees of $150,000 and research and development expenses in the amount of $147,139. As a result of the above, we realized a loss of $(1,114,370) for the twelve-month period ended December 31, 2006 or $(0.01) per share.

The Company’s discussion and analysis of its financial condition and results of operations are based upon its financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including those related to bad debts, income taxes and contingencies and litigation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

In June 2006, the Financial Accounting Standards Board (“FASB”) issued Interpretation 48, “Accounting for Income Tax Uncertainties” (“FIN 48”). FIN 48 defines the threshold for recognizing the benefits of tax return positions in the financial statements as “more-likely-than-not” to be sustained by the taxing authority. Recently issued literature also provides guidance on the derecognition, measurement and classification of income tax uncertainties, along with any related interest and penalties. FIN 48 also includes guidance concerning accounting for income tax uncertainties in interim periods and increases the level of disclosures associated with any recorded income tax uncertainties. FIN 48 is effective for fiscal years beginning after December 15, 2006. The Company expects to adopt the provisions of FIN 48 beginning in the first quarter of 2007. The Company is currently in the process of determining the impact, if any, of adopting the provisions of FIN 48 on its financial position, results of operations and liquidity.

In September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements,” which defines fair value, establishes a framework for measuring fair value under other accounting pronouncements that permit or require fair value measurements, changes the methods used to measure fair value and expands disclosures about fair value measurements. In particular, disclosures are required to provide information on the extent to which fair value is used to measure assets and liabilities; the inputs used to develop measurements; and the effect of certain of the measurements on earnings (or changes in net assets). SFAS No. 157 is effective for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. Early adoption, as of the beginning of an entity’s fiscal year, is also permitted, provided interim financial statements have not yet been issued. The Company expects to adopt the provisions of FIN 48 beginning in the first quarter of 2008. The Company is currently evaluating the potential impact, if any, that the adoption of SFAS No. 157 will have on its consolidated financial statements.

SAB No. 108 is effective for fiscal years ending after November 15, 2006. Upon initial application, SAB No. 108 permits a one-time cumulative effect adjustment to beginning retained earnings. The Company adopted SAB No. 108 for the fiscal year ended December 31, 2006. Adoption of SAB No. 108 did not have a material impact on the consolidated financial statements.

In February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial Assets and Financial Liabilities (“SFAS 159”). SFAS 159 allows entities to measure at fair value many financial instruments and certain other assets and liabilities that are not otherwise required to be measured at fair value. SFAS 159 is effective for fiscal years beginning after November 15, 2007. We have not determined what impact, if any, that adoption will have on our results of operations, cash flows or financial position.

Report of Registered Public Accounting Firm			F - 2

Financial Statements:

Balance Sheets as of December 31, 2006 and 2005			F-3

Statements of Operations for the years ended December 31, 2006 and
2005 and for the period May 28, 2003 (inception) to December 31, 2006			F-4

Statement of Shareholders' Equity for the Period from Inception (May 28, 2003)
to December 31, 2006			F-5 to F-6

Statements of Cash Flows for the years ended December 31, 2006
and 2005 and for the period May 28, 2003 (inception) to December 31, 2006			F-7 to F-8

Notes to Financial Statements			F-9 to F-16

We have audited the accompanying balance sheets of Organetix, Inc. (a development stage company) as of December 31, 2006 and 2005, the related statements of operations, shareholders' equity and its cash flows for each of the two years then ended and for the cumulative period May 28, 2003 (inception) to December 31, 2006. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Organetix, Inc. (a development stage company) as of December 31, 2006 and 2005, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2006 and for the cumulative period May 28, 2003 (inception) to December 31, 2006, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1, to the financial statements, the Company has accumulated net losses since inception of $4,018,737 at December 31, 2006 and there are existing uncertain conditions the Company faces relative to its ability to obtain capital and operate successfully. These conditions raise substantial doubt about its ability to continue as a going concern. Management's plans regarding those matters are also discussed in Note 1. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

	December 31,			December 31,
	2006			2005

ASSETS

CURRENT ASSETS
Cash	$	-		$	3,279
Prepaid expenses		-			18,859
Total Current Assets		-			22,138

TRANSPORTATION EQUIPMENT, net of accumulated
depreciation of $0 and $15,000, respectively		-			15,000

LICENSE AGREEMENT, net of accumulated amortization of
$ 0 and $153,250, respectively		-			2,036,750

Total Assets	$	-		$	2,073,888


LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Convertible note payable	$	-		$	150,000
Note payable to individual		-			16,200
Accounts payable		-			157,152
Accrued salaries to officers		-			483,966
Interest payable		-			15,720
Due to related parties		-			161,480
Total Current Liabilities		-			984,518

STOCKHOLDERS' EQUITY
Common stock, par value $0.0001, authorized
150,000,000 shares, issued and outstanding
62,882,447 and 86,382,447 at December 31, 2006
and December 31, 2005, respectively		6,288			8,638
Additional paid in capital		4,012,449			3,985,099
Deficit accumulated during the development stage		(4,018,737	)		(2,904,367	)
Total Stockholders' Equity		-			1,089,370

Total Liabilities and Stockholders' Equity		-			2,073,888

							For the Period
							From Inception
	Year Ended December 31,						(May 28, 2003) to
	2006			2005			December 31, 2006

REVENUES	$	-		$	-		$	-

COSTS AND EXPENSES
Operating expenses- research facility		36,600			77,449			247,659
Research and development expenses		147,139			449,099			1,264,156
Consulting fees		150,000			187,000			528,528
Professional fees		55,296			116,012			365,796
Travel and accommodations		9,654			29,452			130,364
Telephone		3,056			10,141			35,528
Interest expense		14,280			38,390			52,670
Insurance		22,816			46,950			104,188
Rent		9,345			14,247			42,410
Shipping expense		41			1,826			6,184
Office and other expense		32,137			64,787			167,775
Marketing and public relations		676			169,256			271,899
Depreciation and amortization expense		40,469			64,750			208,719
Loss on disposition of assets		592,861			-			592,861

Total Costs and Expenses		1,114,370			1,269,359			4,018,737

NET LOSS	$	(1,114,370	)	$	(1,269,359	)	$	(4,018,737	)

NET LOSS PER COMMON
SHARE (Basic and Diluted)		($0.01	)		($0.01	)		($0.05	)

WEIGHTED AVERAGE SHARES
OUTSTANDING		74,600,255			85,351,488			79,637,272

											Deficit
											Accumulated
					Additional						During
	Common Stock				Paid-in			Subscription			Development			Stockholders'
	Shares		Amount		Capital			Receivable			Stage			Equity
At inception (May 28, 2003)		12,362,056	$	1,236	$	298,764			-			-		$	300,000

Issuance at inception to founders		7,200,000		720		71,280			(6,240	)		-			65,760
Issuance pursuant to private placement		640,000		64		159,936			-			-			160,000
Assignment of license agreement		8,160,000		816		2,039,184			-			-			2,040,000
Additional shares issued pursuant to merger		48,000,000		4,800		(4,800	)		-			-			-
Net loss from inception to December 31, 2003		-		-		-			-			(394,682	)		(394,682	)
Balance, December 31, 2003		76,362,056		7,636		2,564,364			(6,240	)		(394,682	)		2,171,078

10% stock dividend		3,017,584		302		(302	)		-			-			-
Issuance of shares for cash		1,000,000		100		124,900			-			-			125,000
Regulation S offering		855,400		86		97,971			-			-			98,057
Issuance of shares for cash		203,038		20		20,084			-			-			20,104
Issuance of shares for cash		3,381,552		338		236,367			-			-			236,705
Shares issued in lieu of payment for legal services		142,857		14		9,986			-			-			10,000
Stock subscription received									6,240						6,240
Services received by Company - paid for by common shares previously issued and held in escrow						131,970									131,970

											Deficit
											Accumulated
	Common Stock						Additional Paid-in		Subscription		During Development			Stockholders'
	Shares			Amount			Capital		Receivable		Stage			Equity

Net loss for year ended December 31, 2004		-			-			-		-		(1,240,326	)		(1,240,326	)
Balance, December 31, 2004		84,962,487			8,496			3,685,340		-		(1,635,008	)		2,058,828
Additional cash contributions received by the Company per agreement		-			-			124,000		-		-			124,000
Issuance of shares as additional consideration for convertible loan		150,000			15			22,485		-		-			22,500
Services received by Company - paid for by common shares previously issued and held in escrow		1,270,000			127			153,274		-		-			153,401
Net loss for year ended December 31, 2005		-			-			-		-		(1,269,359	)		(1,269,359	)
Balance, December 31, 2005		86,382,487			8,638			3,985,099		-		(2,904,367	)		1,089,370
Cancellation of common stock		(23,400,040	)		(2,350	)		2,350		-		-			-
Contribution of services		-			-			25,000		-		-			25,000
Net loss for year ended December 31, 2006		-			-			-		-		(1,114,370	)		(1,114,370	)
Balance, December 31, 2006		62,882,447		$	6,288		$	4,012,449	$	-	$	(4,018,737	)	$	-

							For the Period
	For the						From Inception
	Year Ended December 31,						(May 28, 2003) to
	2006			2005			December 31, 2006

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(1,114,370	)	$	(1,269,359	)	$	(4,018,737	)
Adjustments to reconcile net loss to net cash
provided by operating activities
Depreciation and amortization		40,469			64,750			208,719
Loss on disposition of assets		592,861			-			592,861
Compensatory shares		-			175,901			324,111
Changes in assets and liabilities:
Decrease in research and development supplies		-			72,108			-
(Increase) decrease in prepaid expenses		(24,555	)		3,588			(43,414	)
Increase in accounts payable		197,004			109,396			354,156
Increase in accrued salaries to officers		225,000			322,000			708,966
Increase in due to shareholders		42,793			161,480			204,273
Increase in accrued interest		12,519			15,720			28,239
Net cash used in operating activities		(28,279	)		(344,416	)		(1,640,826	)

CASH FLOWS FROM INVESTING ACTIVITIES
Payment regarding license		-			-			(150,000	)
Capital expenditures		-			-			(30,000	)
Net cash used in investing activities		-			-			(180,000	)

CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock to founders		-			-			65,760
Additional contribution of capital		25,000			124,000			1,288,866
Cash received in merger		-			-			300,000
Convertible note payable		-			150,000			150,000
Note payable to individual		-			16,200			16,200
Net cash provided by financing activities		25,000			290,200			1,820,826

DECREASE IN CASH		(3,279	)		(54,216	)		-

CASH AT BEGINNING OF YEAR		3,279			57,495			-

CASH AT END OF YEAR	$	-		$	3,279		$	-

On November 7, 2003 (the "Effective Date"), pursuant to a Share Exchange Agreement ("Agreement") between Diamond International Group, Inc. ("Diamond"), a Delaware corporation and Organetix, Inc. ("Organetix"), a Delaware corporation and all of the shareholders of Organetix, Diamond acquired all of the shares of Organetix as consideration for the issuance of 64,000,000 restricted shares of Diamond to the Organetix shareholders. As a result of this Agreement, Diamond International Group, Inc. (the legal acquirer) received 100% of the issued and outstanding common stock of Organetix, Inc. in exchange for 64,000,000 shares of common stock of Diamond. Pursuant to the Agreement, Organetix became a wholly owned subsidiary of Diamond which entity filed a Certificate of Amendment with the State of Delaware changing its name to Organetix, Inc. This reverse merger transaction was treated retroactively as a recapitalization with Organetix, Inc. being treated as the accounting acquirer.

On August 18, 2006, AMMA Corporation and other shareholders entered into a stock purchase agreement with Lusierna Asset Management, as agent for various purchasers ("Stock Purchase Agreement"), whereby AMMA Corporation shall sold 51,546,000 shares of the Company's common stock. The closing of the Stock Purchase Agreement resulted in a change of control. As consideration for the shares and the assumption of all liabilities of the Company, AMMA Corporation received (i) cash and (ii) an assignment of certain assets of the Company. The Company did not receive any sales proceeds or other consideration in connection with this transaction. As a result of this change of control, the Company cancelled 23,500,040 shares of its common stock. The Company also released or paid in cash its outstanding liabilities in exchange for the rights to the Company’s licensing agreement. Accordingly, a $592,861 loss was recorded on the disposition of these assets and liabilities.

As shown in the accompanying financial statements, the Company has incurred net losses of $4,018,737 since inception. Management's plans include raising of capital through the equity markets to fund operations, and the generating of revenue through its business. Failure to raise adequate capital and generate adequate sales revenues could result in the Company having to curtail or cease operations. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate adequate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop to a level where it will generate profits and cash flows from operations. These matters raise substantial doubt about the Company's ability to continue as a going concern. However, the accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classifications of the liabilities that might be necessary should the Company be unable to continue as a going concern.

In preparing financial statements in accordance with accounting principles generally accepted in the United States of America, management makes certain estimates and assumptions, where applicable, that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. While actual results could differ from those estimates, management does not expect such variances, if any, to have a material effect on the financial statements.

The cost of the license is being amortized on the straight-line method over its contractual life of 40 years. Intangible assets that do not have indefinite lives are amortized over their useful lives and reviewed for impairment in accordance with SFAS No. 144 "Accounting for the Impairment or Disposal of Long-Lived Assets".

The asset and liability method is used in accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for operating loss and tax credit carry forwards and for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized.

In September 2006, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements” (“SAB No. 108”). SAB No. 108 provides guidance on how prior year misstatements should be considered when quantifying misstatements in the current year financial statements. SAB No. 108 requires registrants to quantify misstatements using both a balance sheet and an income statement approach and evaluate whether either approach results in quantifying a misstatement that, when all relevant quantitative and qualitative factors are considered, is material. SAB No. 108 does not change the guidance in SAB No. 99, “Materiality,” when evaluating the materiality of misstatements. SAB No. 108 is effective for fiscal years ending after November 15, 2006. Upon initial application, SAB No. 108 permits a one-time cumulative effect adjustment to beginning retained earnings. The Company adopted SAB No. 108 for the fiscal year ended December 31, 2006. Adoption of SAB No. 108 did not have a material impact on the consolidated financial statements.

On July 6, 2005 the Company executed three convertible promissory notes with three individuals who are also shareholders of the Company for an aggregate of $150,000. The notes were to bridge the Company for 90 days while it closed a proposed private placement memorandum with an investment banker in New Jersey, which did not materialize due to a significant drop in the Company's share price in the second quarter of 2005. The notes bear interest at the rate of 20% per annum and were due within 90 days of the note date. These notes are currently in default. Additionally, these individuals received 150,000 shares of the Company's restricted common stock as additional consideration for making unsecured loans to the Company.

The terms of the conversion were based upon the proposed private placement memorandum which did not materialize and thus the Company does not have definitive conversion terms. The Company plans to reach amicable terms with the note holders relating to the terms of conversion or the Company will re-pay the $150,000 plus accrued interest.

In April 2005, the Company borrowed $16,200 from an individual who is also a shareholder of the Company for working capital in order to continue operations. The loan was non-interest bearing, was unsecured and had no specific repayment date. As part of the stock purchase agreement discussed under Change of Control in Note 1, this convertible note payable was assumed by AMMA Corporation.

At December 31, 2005 the Company was indebted to the President, Chief Executive Officer and Director through his related companies for $161,480. This amount represented advances for working capital in order to continue operations. These advances were non-interest bearing, had no specific maturity date and were unsecured. As part of the stock purchase agreement discussed under Change of Control in Note 1, these liabilities were assumed by AMMA Corporation.

At December 31, 2006 and 2005, the Company had approximately $3,800,000 and $2,700,000 respectively of net operating loss carry forwards available, expiring in years beginning in 2021. The Company has provided a 100% valuation allowance on the deferred tax assets at December 31, 2006 and 2005 to reduce such asset to zero, since there is no assurance that the Company will generate future taxable income to utilize such asset. Management reviews this valuation allowance requirement periodically and makes adjustments as warranted.

On July 15, 2003, Amma Corporation, a privately held entity domiciled in Alberta, Canada, assigned all of its rights, title and interest in and to the A4+L compound as defined in a License Agreement, dated June 5, 2003, between Amma Corporation and Dr. Jose Cabanillas Coral, a Canadian resident and citizen of Peru, to the Company in exchange for 8,160,000 shares of Company common stock.

The A4+L compound (the "technology"), is a multiple plant formulation used for the relief of certain medical symptoms associated with Hepatitis C. This license granted the Company the exclusive right to use and sublicense the technology, and any improvements, and to research, manufacture, distribute and sell products throughout the world excluding Peru.

The following shares, aggregating 64,000,000, were issued in connection with the share exchange agreement described in Note 1: (i) in May 2003, the Company issued 7,200,000 shares of common stock to its founders, at a per share price of $.01, for aggregate proceeds of $72,000, (ii) in June 2003, the Company began offering its common stock in a private offering of such securities and, generated proceeds of $160,000, for the sale of 640,000 shares of its common stock at a per share price of $.25; (iii) in July 2003, the Company issued 8,160,000 shares of its common stock in connection with the assignment of a license agreement (see Note 9). These shares were deemed to have a fair value of $.25 per share at the time of issuance, and in November 2003, the Company issued an additional 48 million shares pursuant to the share exchange agreement.

In 2004, the Company declared and paid a 10% stock dividend to all shareholders, excluding the majority shareholder, AMMA Corporation, issuing 3,017,584 shares of its common stock in connection therewith. The Company also received $479,866 in proceeds from the sales of 5,439,990 shares of its common stock. In partial payment for legal services received, the Company issued 142,857 shares of common stock valued at $10,000. In connection with the reverse merger with Diamond International, Inc., Sylvio Martini, the majority shareholder at the time, agreed to pay certain expenses of the Company from the shares retained by him. Such shares were placed in escrow and during the year, 2,500,000 shares were sold and transferred to 20 persons generating $500,000 of proceeds, which were then contributed to the Company as additional paid-in capital. Mr. Martini also transferred certain escrowed shares to consultants as payment for services provided to the Company. The value of these shares, $131,970, was recorded as additional paid-in capital.

During the year ended December 31, 2005, in connection with the reverse merger with Diamond International, Inc. in 2003, Sylvio Martini, the majority shareholder at the time, agreed to pay certain expenses of the Company from the shares retained by him. Such shares were placed in escrow and during the twelve months ending December 31, 2005, 620,000 shares were issued to 7 persons for services rendered for a total of $124,000 of proceeds, which were then contributed to the Company as additional paid-in capital.

In July 2005, 150,000 shares of common stock valued at $22,485 were issued in connection with a bridge note (see Note 3). In August 2005, 470,000 shares of common stock valued at $65,853 were issued for services rendered to the Company. In November 2005, 800,000 shares of common stock value at $39,920 were issued for services rendered to the Company.

On January 2, 2004, the Company entered into an Employment Agreement with Mr. L. B. (Brad) Clarke as a "senior executive" (the "Employment Agreement"). The Employment Agreement was for a 3-year term and provided for annual salaries of $120,000 for 2004, $180,000 for 2005 and $240,000 for 2006. Other remuneration under the Employment Agreement is a $700 per month automobile allowance and 30 days paid vacation. The Employment Agreement may be terminated for "cause". All salaries and the automobile allowance have been accrued as payable but not paid. As part of the stock purchase agreement discussed under Change of Control in Note 1, these liabilities were assumed by AMMA Corporation.

On September 26, 2006, the Company entered into a letter of intent with Volius, Inc. ("Volius") to acquire all of Volius' assets in exchange for 50.5% of the company's shares of common stock or approximately 63,511,270 shares. Contemporaneous with the effectiveness of the merger, the Company was required to raise between $4 and $6 million dollars to fund the operations of the newly merged company on mutually agreeable terms.

On January 24, 2007, Organetix executed a definitive agreement to acquire ADAO. ADAO is a telephony engineering and design firm specializing in the development of cellular technologies that target the low-end user market segment. The transaction is expected to close in the 2^nd calendar quarter of 2007 (“Closing”). The Company is required to invest an aggregate of $300,000 in ADAO prior to the closing, which shall be used specifically to develop a prototype to be owned by the Company. Upon successful completion of the prototype and other conditions in the proposed exchange transaction, at Closing, the Company shall issue 73,500,000 ($.0001 par value per share) restricted shares of common stock of the Company equal to 53.5% of the outstanding shares of common stock to the shareholders of ADAO. As further consideration, the Company has agreed that, subsequent to Closing, it will increase its authorized number of shares of common stock from 150,000,000 to 300,000,000 and change its name to ADAO Wireless, Inc. ADAO will then receive an additional 17,000,000 shares of the Company’s common stock.

On February 15, 2007, Organetix entered into non-exclusive agreements with Ambassador Thomas Graham, Jr., Mr. David Lewis and Mr. Aaron Foley to serve on the Company’s Board of Advisors. However, subsequent to that date, Ambassador Graham and the Company mutually agreed to terminate that agreement and as a result Ambassador Graham does not serve on the Company’s Board of Advisors. Thus, the Company’s Board of Advisors consists of Messrs. Lewis and Foley and each shall serve until the earlier of February 15, 2009 or the date that either Advisor is removed from the Board. As compensation for participation on the Board of Advisors, each member received 500,000 shares of the Company’s common stock.

Disclosure controls and procedures are controls and other procedures that are designed with the objective of ensuring that information required to be disclosed in our periodic reports filed under the Exchange Act, such as this report, is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms. As defined by the SEC, such disclosure controls and procedures are also designed with the objective of ensuring that such information is accumulated and communicated to our management, including the President and Chief Financial Officer, in such a manner as to allow timely disclosure decisions.

The Company recognizes that a system of disclosure controls and procedures (as well as a system of internal controls), no matter how well conceived and operated, cannot provide absolute assurance that the objectives of the system are met. Further, the design of such a system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented in a number of ways. Because of the inherent limitations in a cost-effective control system, system failures may occur and not be detected. However, our sole officer and director believes that our system of disclosure controls and procedures provides reasonable assurance of achieving their objectives.

Dr. Hostelley has served as our Chairman of the Board and President since August 16, 2006. Dr. Hostelley is a Certified Public Accountant licensed in the states of Ohio and New York. In 1984 he earned his Ph.D. in management while a lecturer in the MBA Program of Baldwin-Wallace College. He currently lectures in Accounting and Management for Myers University, Cleveland, Ohio.

No director holds any directorship in a company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934 or subject to the requirements of Section 15(d) of such Act. No director holds any directorship in a company registered as an investment company under the Investment Company Act of 1940.

As the Board of Directors only has one director and the Company one employee and 8 consultants, no Audit or Strategy Committee has been established. The Company does not have a standing nominating committee or any committee performing a similar function. For the above reasons, the Company has not adopted a code of ethics.

Section 16(a) of the Securities Exchange Act of 1934 requires executive officers and directors who beneficially own more than ten percent (10%) of the Company's Common Stock to file initial reports of ownership and reports of changes of ownership with the Securities and Exchange Commission. Executive officers, directors and greater than ten percent (10%) beneficial owners are required by Commission regulations to furnish the Company with copies of all Section 16(a) forms they file.

The table below sets forth all annual and long-term compensation paid by the Company through the latest practicable date to the President of the Company and to all executive officers of the Company who received total annual salary and bonus in excess of $100,000 for services rendered in all capacities to the Company and its subsidiaries during the fiscal years ended December 31, 2005 and 2006, respectively.

			Long-Term Compensation Awards				Securities Underlying Options		All Other
Name and Principal Position	Year		Salary		Bonus		(#) /SARS		Compensation
L. B. (Brad) Clarke - Chairman of the Board, Chief Executive Officer, President, Chief Executive Officer and Secretary¹		2005		180,000						7,000

Robert C. Howell - Executive Vice President & Chief Financial Officer¹		2005		60,000		0		0		0

Dr. Jose Cabanillas - Executive Vice President - Research & Development¹		2005		144,000		0		0		0

John Garcia - Executive Vice President Corporate Development¹		2005		60,000		0		0

Dr. David F Hostelley - Chairman of the Board and President		2006		0		0		0		0

The following table sets forth information regarding the beneficial ownership of the shares of the Common Stock (the only class of shares previously issued by the Company) at April 27, 2006, by (i) each person known by the Company to be the beneficial owner of more than five percent (5%) of the Company’s outstanding shares of Common Stock, (ii) each director of the Company, (iii) the executive officers of the Company, and (iv) by all directors and executive officers of the Company as a group.

On April 10, 2006, the Company retained Meyler & Company CPA as its independent accountants and informed Lazar Levine & Felix LLP (“Lazar”) its previous independent accountants, that it was no longer using their services. There were no disagreements with Lazar on any matter of accounting principals or practices, financial statement disclosure, or auditing scope or procedure.

On August 18, 2006, AMMA Corporation and other shareholders (collectively, "Sellers") of the Company entered into a stock purchase agreement with various purchasers ("Stock Purchase Agreement"), whereby the Sellers sold 51,546,000 shares of the Company's common stock ("Shares"). In exchange for (i) cash and (ii) an assignment of certain assets of the Company, the Company did not receive any sales proceeds or other consideration in connection with this transaction.

On January 24, 2007, the Company executed a definitive agreement to acquire ADAO Telecom, Inc., a Florida based and privately held corporation (“ADAO”). ADAO, a telephony engineering and designs firm, specializes in the development of cellular technologies that target the low-end user market segment. In exchange for all of the shares of ADAO, the Company shall issue to the shareholders of ADAO 73,500,000 ($0.0001 par value per share) restricted shares of the Company’s common stock equal to 53.3% of the outstanding shares. Pursuant to the agreement, the Company is to transfer $300,000 to ADAO, which is to be earmarked for the development of a prototype to be owned by the Company. We expect this transaction to close as soon as the 2^nd calendar quarter of 2007, but no later than May 30, 2007 (“Closing”). As further consideration, the Company has agreed that, subsequent to Closing, it will increase its authorized number of shares of common stock from 150,000,000 to 300,000,000 and change its name to ADAO Wireless, Inc. At that time, ADAO will receive an additional 17,000,000 shares of the Company’s common stock. It is further agreed that subsequent to the Company raising its authorized shares, agents of the Company will make their best efforts to raise between $3,500,000 and $4,500,000 prior to June 15, 2007.

During discussions with Volius, Inc. (“Volius”), it became apparent to both Volius and the Company that it would be difficult, if not impossible, to agree on the amount of capital to be raised, the valuation of Volius and the timing of the ultimate transaction. Also during that period, the Company was introduced to ADAO and concluded that ADAO was a better fit with shareholders' goals of acquiring a business with dynamic opportunities. On January 18, 2007, the Company terminated its Letter of Intent to merge with Volius.

On February 15, 2007, Organetix entered into non-exclusive agreements with Ambassador Thomas Graham, Jr., Mr. David Lewis and Mr. Aaron Foley to serve on the Company’s Board of Advisors. All shall serve as Advisors until the earlier of February 15, 2009 or the date that any Advisor is removed from the Board. Ambassador Graham will serve as Chairman of the Board of Advisors. As compensation for participation on the Board of Advisors, Ambassador Graham received 2,000,000 shares of the Company’s common stock and Messrs. Lewis and Foley each received 500,000 shares of the Company’s common stock.

Delaware	73-1556428
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

	Name of Each Exchange
Title of Each Class	on Which Registered
NONE	NONE

	High Close		Low Close

2006
First Quarter		0.07		0.01
Second Quarter		0.03		0.01
Third Quarter		0.30		0.01
Fourth Quarter		0.18		0.04

2007
First Quarter		0.11		0.06
Second Quarter to April 25		0.10		0.08

	December 31, 2006			December 31, 2005
Deferred tax asset- net operating loss carry forwards	$	985,000		$	675,000
Less: valuation allowance		(985,000	)		(675,000	)

Net deferred tax asset		-			-

Title of Class	Name of Beneficial Owner	Shares of Common Stock	Percent of Class

Common	Dr. David F. Hostelley	0	0	%

For the fiscal year ended December 31, 2006	Commission File
	Number 000-29461

ORGANETIX, INC.
(A Development Stage Company)

CONSOLIDATED STATEMENTS OF OPERATIONS

ORGANETIX, INC.
(A Development Stage Company)

CONSOLIDATED STATEMENTS OF CASH FLOWS

ORGANETIX, INC.


/s/ Dr. David F. Hostelley
Name: Dr. David F. Hostelley
Title: President
Date: May 1, 2007