UNITED STATES


SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549

FORM 10-QSB

(Mark One)

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended JULY 31, 2007

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d)
OF THE EXCHANGE ACT

For the transition period from ______________ to _________________.

Commission file number 333-68008

EFOODSAFETY.COM, INC.
(Exact name of small business issuer as specified in its charter)

NEVADA
(State or other jurisdiction of incorporation or organization)

62-1772151
(I.R.S. Employer Identification No.)


7702 E. DOUBLETREE RANCH ROAD, SUITE 300, SCOTTSDALE, ARIZONA 85258
(Address of principal executive offices)

(480) 607-2606
(Issuer's telephone number)

(Former name or former address, if changed since last report)

Check whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes [  ] No [X]

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 163,848,330            common shares issued and outstanding as of September 6, 2007.

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [X]

 




PART 1 - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

EFOODSAFETY.COM, INC. & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS


                                            (Unaudited)
                                           July 31,            April 30,
                                     
        2007                2007
                                      ------------------  ------------------
Assets:
Current Assets
  Cash                                $        1,090,087  $        1,109,109

   Marketable Securities                           44,000                -                                                    

   Accounts Receivable                            270,433            231,471

   Inventory                                       37,693                -
  Prepaid expenses                             1,501,228           2,034,146
  Due from shareholders                           56,191              58,405
                                      ------------------  ------------------

    Total Current Assets                       2,999,632           3,433,131
                                      ------------------  ------------------

Fixed Assets                                       11,685              8,053
                                      ------------------  ------------------
Intangible Assets                                 863,752            863,869

                                       ------------------  ------------------
Non-Current Assets
  Loan Receivable                                100,000             100,000
                                      ------------------  ------------------

    Total Assets                      $        3,975,069  $        4,405,053
                                      ==================  ==================


 




EFOODSAFETY.COM, INC. & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(continued)


                                             (Unaudited)
                                              July 31,        April 30,
                                    
            2007            2007
                                           ----------------  --------------
Liabilities:
Current Liabilities
  Accounts payable                         $         68,488  $       99,075
  Accrued expenses                                      -            19,731
  
                                            ----------------  --------------

    Total current liabilities                        68,488         118,806
                                           ----------------  --------------

    Total Liabilities                                68,488         118,806
                                           ----------------  --------------

Stockholders' Equity:
 Common Stock, $.0001 Par Value
   Authorized 500,000,000 shares, Issued
   163,848,330 at July 31, 2007
   and 161,898,330 at April 30, 2007                 16,385          16,190
 Paid-In Capital                                 24,513,598      23,925,643
 Comprehensive Income (Loss)                       ( 67,348)          2,524
 Retained Deficit                               (20,556,054)    (19,658,110)
                                           ----------------  --------------

    Total Stockholders' Equity                    3,906,581       4,286,247
                                           ----------------  --------------

    Total Liabilities and
      Stockholders' Equity                 $      3,975,069  $    4,405,053
                                           ================  ==============


The accompanying notes are an integral part of these financial statements.


 



EFOODSAFETY.COM, INC. & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS


                                                                (Unaudited)
                                                          For the three months
                                                               ended July 31,
                               
                            2007               2006
                                                     -----------------  -----------------
Revenues                                              $         321,474  $        500,979

Cost of Sales                                                    93,467               -
                                                     -----------------  -----------------
Gross Profit                                                    228,007           500,979
Expenses
  Sales and marketing                                           88,359            907,314
  Research and development                                      21,508             13,205
  Consulting                                                   880,856            515,000
  Legal settlements                                               -               390,000
  General and administrative                                   142,265            170,125
                                                     -----------------  -----------------
    Total Expenses                                           1,132,988          1,995,644
                                                    -----------------   -----------------
Net (Loss) Before Other                                      ( 904,981)        (1,494,665)
Other Income (Expense)
Interest income                                                   4,111             7,391
Dividend income                                                   3,357                 -
Gain/Loss on sale of
  marketable securities                                            -                  173
Interest Expense                                                 ( 431)          ( 7,848)
                                                     -----------------  -----------------
    Total Other Income (Expense)                                7,037            (   284)
                                                     -----------------  ----------------

    Net Income (Loss)                                $      ( 897,944) $      (1,494,949)
                                                     =================  =================

Income (Loss) per common share
                                                  
   Net Income ( Loss)                                 $          (0.01)  $         (0.01)
                                                     =================  =================

Weighted Average Shares                                     163,091,735       177,646,003
                                                     =================  =================

 

 


The accompanying notes are an integral part of these financial statements.



EFOODSAFETY.COM, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)


                                                                For the three months ended
                                                                        July 31,
                                                        
         2007               2006
                                                          ------------------  -----------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net Loss                                                   $       (  897,944) $      (1,494,949)
Adjustments used to reconcile net loss to net
 cash provided by (used in) operating activities:
Depreciation                                                              960                339
Common stock issued for expenses                                      218,650            890,000
Loss on Comprehensive Income                                          (69,872)                -

(Increase) in Marketable Securities                                   (44,000)                -

(Increase) in Accounts Receivable                                     (38,962)                -

(Increase) in Inventory                                               (37,693)                -
(Increase) Decrease in Prepaid Expenses & Deposits                    532,918            515,000

Decrease in Shareholder Advances                                        2,214                 -
Increase (Decrease) in Accounts Payable                               (50,318)            26,326
Increase (Decrease) in Accrued Interest                                   -                7,847
                                                          ------------------   -----------------
Net Cash Used in operating  activities                              ( 384,047)         ( 55,437)

                                                          ------------------   -----------------

                                                         

CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchase of assets                                                    (4,475)               -
Proceeds from sale of marketable securities                                 -               -
                                                           ------------------  -----------------
Net cash provided by (used in) continuing activities                        -               -
Net cash provided by (used in) discontinued activities                      -               -
                                                           ------------------  -----------------
Net cash provided by investing activities                             (4,475)               -
                                                           ------------------  -----------------

CASH FLOWS FROM FINANCING
ACTIVITIES:
Proceeds from sale of stock                                           259,500             12,500
Contribution of Capital                                               110,000               -
Payments on shareholder loans                                               -           (30,435)
                                                           ------------------  -----------------
Net cash provided by Financing Activities                             369,500           (17,935)
                                                           ------------------  -----------------

Net (Decrease) Increase in
 Cash and Cash Equivalents                                           (19,022)          (73,372)
Cash and Cash Equivalents
 at Beginning of Period                                            1,109,109          1,068,950
                                                           ------------------  -----------------
Cash and Cash Equivalents
 at End of Period                                         $        1,090,087  $         995,578
                                                           ==================  =================




EFOODSAFETY.COM, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

(continued)

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:


Cash paid during the year for:
 Interest                   
                $             431  $              -
 Franchise and income taxes                 $              -   $              -


.

The accompanying notes are an integral part of these financial statements.


EFOODSAFETY.COM, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of accounting policies for eFoodSafety.com, Inc. & Subsidiaries is presented to assist in understanding the Company's consolidated financial statements. The accounting policies conform to generally accepted accounting principles and have been consistently applied in the preparation of the consolidated financial statements.

Interim Financial Statements

The unaudited consolidated financial statements for the three months ended July 31, 2007 reflect, in the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to fairly state the financial position and results of operations for the three months ended July 31, 2007 and 2006. Operating results for interim periods are not necessarily indicative of the results which can be expected for full years.

Organization and Basis of Presentation

The Company was incorporated in Nevada on October 28, 1996 as DJH International, Inc. to market products through the Internet. On October 16, 2000, the Company entered into an agreement and plan of reorganization with Global Procurement Systems, Inc. ("GPS") whereby the Company acquired GPS. This business combination was accounted for as a reverse merger with GPS being the surviving entity for financial reporting purposes. As a result of the acquisition, the Company issued 37,620,000 shares of common stock in exchange for the outstanding shares of GPS and changed its name to eFoodSafety.com, Inc.

On October 29, 2003, the Company issued 1,500,000 restricted shares of common stock to acquire Ozone Safe Food, Inc. As of October 29, 2003, Ozone Safe Food, Inc. was a wholly owned subsidiary of the Company. On August 24, 2005, the Company sold Ozone Safe Food, Inc. for 1,500,000 shares of the Company’s common stock and an agreement to receive royalty payments through December 31, 2008 on up to $60 million in sales

In May 2004, the Company issued 1,000,000 restricted shares of common stock to acquire Knock-Out Technologies, Ltd. ("Knock-Out") as a wholly-owned subsidiary of the Company. Knock-Out is a manufacturer of all-natural, non-toxic, food-grade products.

On August 31, 2005, the Company issued 10,000,000 restricted shares of common stock to acquire MedElite, Inc. as a wholly-owned subsidiary of the Company. MedElite distributes clinically proven products to physicians who then prescribe the products for their patients. It is the exclusive US distributor of the Talsyn product line.

In November 2006, the Company formed Cinnergen, Incas a wholly-owned subsidiary.  Cinnergen, Inc. manufactures a non-prescription liquid whole food nutritional supplement that promotes healthy glucose metabolism.

In November 2006, the Company formed PurEffect, Inc. for its PurEffect(TM) 4-step anti-acne formula.

In July 2007 the Company formed I-Boost Inc which will make and distribute a food bar designed to improve the immune system.

Nature of Business

The Company was organized as a vehicle to provide methods and products to ensure the safety of fruits and vegetables being marketed worldwide. With the sale of Ozone Safe Food, Inc. the Company changed direction to become a company dedicated to improving food and health conditions around the world through its innovative technologies. The Company's Knock-Out Technologies, Ltd. subsidiary has developed an environmentally safe sporicidal product formulated entirely of food-grade components that eradicates anthrax and a germicidal product, Big 6 Plus - EPA Reg. No 82723-1 that kills six major bacteria: E-coli, Listeria, Pseudomonas, Salmonella, Staphylococcus, and Streptococcus, Avian Influenza and Black Mold. The sporicidal product has completed its final efficacy laboratory study requisite for EPA registration. The Company's MedElite, Inc. subsidiary distributes clinically proven products to physicians who then prescribe the products for their patients. It is the exclusive U.S. and worldwide distributor of the Talsyn(TM)-CI/bid Scar Cream that has been clinically proven to facilitate and improve the appearance, redness and strength of scars. The Company manufactures Cinnergen(TM), a non- prescription liquid whole food nutritional supplement that promotes healthy glucose metabolism and is the owner of PurEffect(TM), a 4-step anti-acne formula.

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes.


EFOODSAFETY.COM, INC. & SUBSIDIARIES


NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Pervasiveness of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles required management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Business Condition

These accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As of July 31, 2007, the Company has accumulated operating losses of $20,556,054 since its inception. The continuation of the Company is dependent upon the continuing financial support of directors and stockholders as well as becoming profitable.

These conditions raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments that might arise from this uncertainty.

Principles of Consolidation

The consolidated financial statements for the period ended July 31, 2007  include the accounts of eFoodSafety.com, Inc. and its subsidiaries ., Knock-Out Technologies, Ltd., and MedElite, Inc, Cinnergen, Inc., and I Boost Inc. Knock-Out Technologies, Ltd. was acquired by the Company in May 2004. MedElite, Inc. was acquired by the Company on August 31, 2005. Cinnergen, Inc. was formed as a wholly owned subsidiary on November 27, 2006. and I Boost was formed as a wholly owned subsidiary July 2007.

All significant intercompany balances and transactions have been eliminated.

Revenue Recognition

The Company reports revenues on a net basis. Revenues are from net gross sales of Cinnergen, predominately and Medelite.

Concentration of Risk

As of July 31, 2007, the majority of the Company's revenues are from the sale of Cinnergen. The loss of this product would have an adverse effect on the Company's operations.

Depreciation

Office furniture and equipment are stated at cost. Depreciation and amortization are computed using the straight-line method over the estimated economic useful lives of the related assets as follows:

Furniture & Fixtures 5-10 years Equipment 5- 7 years Computers 3- 5 years

Maintenance and repairs are charged to operations; betterments are capitalized. The cost of property sold or otherwise disposed of and the accumulated depreciation thereon are eliminated from the property and related accumulated depreciation accounts, and any resulting gain or loss is credited or charged to income.

Total depreciation expense for the periods ended July 31, 2007 and 2006 was $843 and $339, respectively.

Earnings (Loss) per Share

Basic loss per share has been computed by dividing the loss for the year applicable to the common stockholders by the weighted average number of common shares outstanding during the years. There were no common equivalent shares outstanding at July 31, 2007 and 2006.



EFOODSAFETY.COM, INC. & SUBSIDIARIES


NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Concentration of Credit Risk

The Company has no significant off-balance-sheet concentrations of credit risk such as foreign exchange contracts, options contracts or other foreign hedging arrangements. The Company maintains the majority of its cash balances with one financial institution, in the form of demand deposits.

Comprehensive Income

The Company recognizes as a component of equity unrealized gains or losses on securities.

Investment in Marketable Securities

The Company on May 3, 2007 received as a capital contribution from a shareholder 1,000,000 shares of a publicly traded Company. The shares were valued at market on that date of .11 per share. At July 31, 2007 the shares at market closed at .044 per share. The Company has recognized an unrealized loss on securities for the difference and recorded net of tax as a component of other comprehensive income.

Investments in securities are summarized as follows:


                                                      July 31, 2007
                                ---------------------------------------------------------
                                      Gross              Gross
                                   Unrealized          Unrealized             Fair
                                      Gain                Loss               Value
                                -----------------  ------------------  ------------------
Available-for-sale securities    $               -  $      66,000          $       -
                                =================  ==================  ==================


                                                     




EFOODSAFETY.COM, INC. & SUBSIDIARIES
 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)

NOTE 2 - INCOME TAXES

As of July 31, 2007, the Company had a net operating loss carryforward for income tax reporting purposes of approximately $19,000,000 that may be offset against future taxable income through 2025 Current tax laws limit the amount of loss available to be offset against future taxable income when a substantial change in ownership occurs. Therefore, the amount available to offset future taxable income may be limited. No tax benefit has been reported in the financial statements, because the Company believes there is a 50% or greater chance the carryforwards will expire unused. Accordingly, the potential tax benefits of the loss carryforwards are offset by a valuation allowance of the same amount.

NOTE 3 – ACCOUNTS RECEIVABLE

The Company recognizes a receivable on sales of its Cinnergen product which commenced in the fourth quarter of the previous fiscal year. The Company’s experience has been that all receivables have been collected and therefore a reserve for doubtful accounts has not been established.

NOTE 4- INVENTORY

The Company values its inventory, finished product of the Cinnergen product, under the fifo method , valued at lower of cost or market.

NOTE 5 - COMMON STOCK TRANSACTIONS

For the period ended July 31, 2007 the Company issued 1,950,000 shares of   its common stock. 1,350,000 for cash of $259,500 and 600,000 shares for professional services valued at market of $218,650.

NOTE 6 - RENT AND LEASE EXPENSE

In August 2005, MedElite, Inc., a subsidiary of the Company, entered into a lease agreement for office space at 668 Woodbourne Road, Suite 109, Middletown, Pennsylvania. The lease is effective October 31, 2005 and expires on October 31, 2008. The lease payments per month are $1,033 for the first year, $1,064 for the second year, and $1,096 for the third year. The Company’s three other leases total $750 per month and are leased on a month-to-month basis.

The minimum future lease payments under these leases are:


Year Ended April 30,                                            Real Property
- ------------------------------------------                  -----------------
    
      2008                                   
                         16,326
     2009                                                             15,576
     2010                                                                  -
     2011                                                                  -
                                                           -----------------
     Total minimum lease payments                $                    31,902
                                                           =================


The lease generally provides that insurance, maintenance and tax expenses are obligations of the Company. It is expected that in the normal course of business, leases that expire will be renewed or replaced by leases on other properties.


NOTE 7- RELATED PARTY TRANSACTIONS.

At July 31, 2007, the company has advanced to an officer amounts greater than contributed in the amount of $56,191 The officer intends to repay this amount during the fiscal second quarter of 2008.




EFOODSAFETY.COM, INC. & SUBSIDIARIES



NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)

NOTE 8 - ACQUISITIONS.

On August 24, 2005, the Company sold its Ozone Safe Food, Inc. subsidiary to Mark Taggatz, former President and Chief Executive Officer of the Company, in exchange for 1,500,000 million shares of the Company's common stock and an agreement to receive royalty payments on equipment sales up to $60 million through December 31, 2008. The shares were used to eliminate $300,000 of the Company's debt.  


On August 31, 2005, the Company acquired MedElite, Inc. from Dr. Richard Goldfarb in exchange for 10,000,000 shares of the Company's common stock, plus potential bonuses of restricted shares if certain sales/revenue benchmarks are achieved. MedElite distributes clinically proven products to physicians who then prescribe the products for their patients. It is the owner and exclusive U.S. distributor of the Talsyn(TM) product line that has been clinically proven to facilitate and improve the appearance, redness and strength of scars. The shares were value at $.17 per share, which was the market value of the stock on the date of the acquisition. In the acquisition, the Company acquired net assets of $831. The Company recognized goodwill of $1,699,169 in connection with the acquisition, which was subsequently written off to expense.

NOTE 9-LOAN RECEIVABLE

On August 7, 2006, the Company loaned Diamond Ranch Foods, Ltd. $100,000. Per the terms of the loan agreement, the loan carries an interest rate of 7.5% per annum and has a maturity date of December 31, 2007. At the maturity date, the Company can elect to either convert the outstanding principal and interest due to restricted stock of Diamond Ranch Foods, Ltd. at a fixed price of $.10 per share, or have Diamond Ranch Foods, Ltd. make monthly payments of $5,000 per month for twenty months and issue the Company 200,000 restricted shares of stock to satisfy the interest amount.

NOTE 10-INTANGIBLE ASSETS

The Company has adopted the Financial Accounting Standards Board SFAS No., 142, "Goodwill and Other Intangible Assets." SFAS 142 requires, among other things, that companies no longer amortize goodwill, but instead test goodwill for impairment at least annually. In addition, SFAS 142 requires that the Company identify reporting units for the purposes of assessing potential future impairments of goodwill, reassess the useful lives of other existing recognized intangible assets, and cease amortization of intangible assets with an indefinite useful life. An intangible asset with an indefinite useful life should be tested for impairment in accordance with the guidance in SFAS 142.

Intangible Assets consisted of the following at July 31, 2007:


                                     July,
          Intangible Asset       2007         2006            Useful Life
- ----------------------------- ------------  -----------   ----------------------
Trademark                     $      7,000  $        -       15 Years
Product Rights                     857,025           -       Indefinite
Less accumulated amortization         (273)          -
                             ------------  -----------

Total                         $   863,752  $         -
                             ============  ===========


On December 20, 2006, the Company acquired U.S. Trademark Reg. No. 2,434,013 for the mark "Immune Boost". The Company has determined that the trademark has a useful life of fifteen years and is being amortized over that useful life.


On November 22, 2006, the Company, through its wholly-owned subsidiary Cinnergen, Inc. acquired the product rights of Cinnergen from NutraLab, Inc. In exchange for the product rights, the Company paid $100,000 and issued 1,000,000 shares of common stock valued at $170,000 to NutraLab, Inc. As part of the purchase agreement, the Company also assumed liabilities of NutraLab, Inc. of $955,826 that was offset by liabilities of the Company of $63,801 that was due to NutraLab, Inc. The Company also agreed to make additional payments totaling $175,000 to NutraLab, Inc. The total purchase price of the product rights was $1,337,025.  The Company then negotiated the payables that it assumed, resulting in a reduction of the liabilities of $480,000. The aforementioned product rights were subsequently reduced representing the forgiveness of debt, to $857,025. The Company has determined that the product rights have an indefinite useful life.


 

EFOODSAFETY.COM, INC. & SUBSIDIARIES


NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)


NOTE 10 -INTANGIBLE ASSETS (continued)

The estimated amortization of the trademark for the next five years is as follows:




2008                                                         467
2009                                                         467
2010                                                         467
2011                                                         467

2012                                                         467
                                              -------------------
Total                                         $            2,335
                                              ===================




ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION AND RISK FACTORS

Certain statements in this annual report constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements deal with our current plans, objectives, projections, expectations, assumptions, strategies, and future events. Words such as "may," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "should," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our plans, our strengths and weaknesses and other information that is not historical information also are forward-looking statements.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, which will, among other things, impact the ability of the Company to implement its business strategy, and changes in, or failure to comply with, governmental regulations affecting health and nutriceutical products.  These risk factors, among others, make investment in shares of the Company's common stock speculative and risky and should be carefully considered.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

THREE MONTHS ENDED JULY 31, 2007 AND 2006

SALES

Our revenues from operations for the three months ended July 31, 2007 were $321,474. Our revenues from operations for the three months ended July 31, 2006 were $500,979. We view this decrease as a temporary decrease that resulted when we switched in 2007 from being a distributor of Cinnergen to being a manufacturer. Our cost of sales was $93,467 in 2007.

RESEARCH AND DEVELOPMENT

During the three months ended July 31, 2007, we incurred research and development expenses of $21,508 Most of these expenses were from our two wholly-owned subsidiaries, Knock-Out Technologies, Inc. and MedElite, Inc. During the three months ended July 31, 2006, the Company incurred $13,205 in research and development expenses.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

A summary of our Selling, General and Administrative costs is as follows:

During the three months ended July 31, 2007, the Company incurred sales and marketing expenses of $88,359 compared to sales and marketing expenses of $907,314 during the three months ended July 31, 2006. The decrease in sales and marketing expense is primarily due to the ceasing of payments made pursuant to our distribution agreement with Nutralab in 2006 as we now are a manufacturer and not a distributor in 2007.

Cash and stock compensation were paid for consulting fees for outside directors, legal advisors and marketing consultants. The Company incurred $880,856 in consulting fees in 2007 compared to $515,000 in 2006.

General and administrative expenses decreased to $142,265 from $170,125.


LIQUIDITY AND CAPITAL RESOURCES

As of July 31, 2007, we had working capital of $2,931,144. As a result of our operating losses during the three months ended July 31, 2007, we generated a cash flow deficit of $384,947 from operating activities. We used cash flows in connection with financing activities of $369,500 during the three months ended July 31, 2007 We received proceeds of $259,500 from the sale of common stock, and received a capital contribution of $110,000.

By adjusting the Company's operations and development to the level of capitalization, management believes it has sufficient capital resources to meet projected cash flow deficits through the next twelve months. However, if thereafter we are not successful in generating sufficient liquidity from operations or in raising sufficient capital resources on terms acceptable to us, this could have a material adverse effect on our business, results of operations, liquidity and financial condition.

Our independent certified public accountants have stated in their report which is included as part of our audited financial statements for the fiscal years ended April 30, 2007 and 2006, that we have suffered recurring losses from operations , and this matter raise substantial doubt about our ability to continue as a going concern.

We have no off-balance sheet arrangements, special purpose entities, financing partnerships or guarantees.

ITEM 3. CONTROLS AND PROCEDURES

The Company's Chief Executive Officer and Chief Financial Officer are responsible for establishing and maintaining adequate internal control over financial reporting and disclosure controls and procedures for the Company.

(a) Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this report, the Company carried out an evaluation, under the supervision and with the participation of the Company's Chief Executive Officer and its Chief Financial Officer of the effectiveness of the design and operation of the Company's disclosure controls and procedures and internal  controls over financial reporting Based upon the evaluations, the Company's Chief Executive Officer and Chief Financial Officer concluded that, as of the end of the period, the Company's disclosure controls and procedures and internal control over financial reporting were effective in timely alerting them to material information relating to the Company required to be included in the reports that the Company files and submits pursuant to the Securities Exchange Act of 1934.

(b) Changes in Internal Control Over Financial Reporting

There was no change in the Company's internal control over financial reporting identified in connection with the evaluations that occurred during the Company's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

The Company is not a party to any material pending legal proceeding, nor is any of its property.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

 For the period ended July 31, 2007 the Company issued 1,950,000 shares of  its common stock: 1,350,000 shares to accredited investors for $0.192 per shares or an aggregate of $259,500 in cash; and 600,000 shares for professional services valued at market of $218,650.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.  None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.  None.

ITEM 5. OTHER INFORMATION.   None.

 


ITEM 6. EXHIBITS.

Exhibits Required by Item 601 of Regulation S-B

 

Exhibit No.

Description

Location

3.1

Articles of Incorporation

Incorporated by reference from the Company’s Registration Statement on Form SB-2 (File No. 333-68008), as amended February 4, 2003).   

3.2

Corporate Bylaws

Incorporated by reference from the Company’s Registration Statement on Form SB-2 (File No. 333-68008), as amended February 4, 2003).   

31.1

Certification of Patricia Gruden , Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act

Filed herewith

32.1

Certification of Patricia Gruden , Chief Executive Officer, pursuant to Section 906 of the Sarbanes-Oxley Act

Filed herewith



SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

EFOODSAFETY.COM, INC.


By: /s/Patricia Ross-Gruden
Patricia Ross-Gruden, Director, Chief
Executive Officer and Chief Financial Officer
Date: September 13, 2007




EXHIBIT 99(A)

SECTION 302 CERTIFICATION

I, Patricia Ross-Gruden, Chief Executive Officer and Chief Financial Officer of the Company, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of eFoodSafety.com, Inc.;

2. Based on my knowledge, 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 my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small business issuer and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such disclosure control over financial reporting, or caused such internal control over financial reporting got be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer'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 small business issuer's internal control over financial reporting


Date: September 13, 2007

By: /s/Patricia Ross-Gruden
Patricia Ross-Gruden, Director, Chief
Executive Officer and Chief Financial Officer



EXHIBIT 99(B)

SECTION 906 CERTIFICATION

In connection with the Quarterly Report of eFoodSafety.com, Inc. on Form 10-QSB for the period ending July 31, 2007, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Patricia Ross-Gruden, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

(1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.


By: /s/Patricia Ross-Gruden
Patricia Ross-Gruden, Director, Chief
Executive Officer and Chief Financial Officer

September 13, 2007