UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT

COMPANIES

Investment Company Act file number 811-09123

AMIDEX^TM FUNDS, INC.

(Exact name of registrant as specified in charter)

2621 Van Buren Avenue	Norristown, PA	19403
(Address of principal executive offices)		(Zip code)

Matrix Capital Group, Inc.

630 Fitzwatertown Road

Building A, Second Floor

Willow Grove, PA 19090-1904

(Name and address of agent for service)

Registrant's telephone number, including area code: 610-666-1330

Date of fiscal year end: 05/31/2008

Date of reporting period: 05/31/2008

ITEM 1. REPORTS TO SHAREHOLDERS

The Annual Report to Shareholders for the period ended May 31, 2008 pursuant to Rule 30e-1 under the Investment Company Act of 1940 (the "1940 Act"), as amended (17 CFR 270.30e-1)is filed herewith.

ANNUAL REPORT

May 31, 2008

AMIDEX

M U T U A L   F U N D S

AMIDEX Funds, Inc.

c/o Matrix Capital Group, Inc.

630 Fitzwatertown Road

Building A, Second Floor

Willow Grove, PA 19090

AMIDEX^TM Funds, Inc. ANNUAL REPORT

President's Letter & Management's Discussion of Fund Performance

May 31, 2008

Dear AMIDEX^TM Funds, Inc. Shareholder,

Enclosed please find the Annual Report for the AMIDEX^TM Funds, Inc. for the fiscal year ended May 31, 2008.

The AMIDEX^TM Funds enjoyed continuing improved performance during the last fiscal year. Our AMIDEX35 ^TM Israel Mutual Fund benefited from the ongoing stability of the Israeli economy and relative political rest. During the end of 2007 and first half of 2008, Israel managed to avoid most of the concerns that have shaken the US markets. Israeli banks had little or no exposure to the Sub-Prime credit crunch. Also, Israel’s economy is less sensitive to rising oil prices thanks to its size and its mix of leading manufacturing and exporting sectors. The USD/ILS currency exchange rate remains strong. The Shekel is still at a 5 year high against the Dollar, adding to the appreciation of our Tel Aviv traded holdings.

For the 12-month period ended May 31, 2008, the AMIDEX35^TM Israel Mutual Fund Class No-Load, Class A and Class C returned 17.24%, 17.05%^* and 16.24%^*, respectively. For the same period, the S&P500 Total Return Index fell -6.70%. Since inception on June 8, 1999, the AMIDEX35^TM Israel Mutual Fund Class No-Load had an annualized return of 6.78%. For the same period the S&P500 Index rose 2.35%. Since inception on November 19, 1999, the AMIDEX35^TM Israel Mutual Fund Class A had an annualized return 4.48%^*. Since inception on May 19, 2000, the AMIDEX35^TM Israel Mutual Fund Class C had an annualized return of 0.35%.

^* The returns stated above do not take into consideration transaction charges such as sales loads, redemption fees or CDSC fees. If these fees were taken into consideration, the one year and since inception returns for the AMIDEX35^TM Israel Mutual Fund Class A shares would be 10.61% and 3.79%, respectively and the one year returns for the AMIDEX35^TM Israel Mutual Fund Class C shares would be 15.08%. There is a maximum sales load of 5.50% on certain Class A subscriptions. A 1% contingent deferred sales charge “CDSC fee” is imposed on redemptions of Class C shares made within one year of purchase. The Fund imposes a 2% redemption fee on AMIDEX35^TM Israel Mutual Fund No-Load Class shares redeemed less than one year of purchase.

Portfolio Summary - The AMIDEX35™ Index tracks the largest Israeli companies traded either in Tel Aviv or New York, providing for the first time an accurate benchmark for Israel's equity universe. The AMIDEX35^TM Israel Mutual Fund’s total industry holdings as of May 31, 2008 were as follows:

Israeli traded

Chemicals	20.16%
Diversified Holdings	17.21%
Banking & Insurance	15.13%
Telecommunications	3.60%
Food	2.27%
Oil Companies	0.47%

U.S. traded

Telecommunications	10.95%
Pharmaceuticals	9.93%
Computer Hardware/Software	4.81%
Defense Equipment	1.22%
Semiconductors	0.54%
Medical Products	0.51%
Electronic Equipment	0.43%
Utilities	0.23%

Portfolio holdings are subject to change. Percentages are based on net assets of the Fund at May 31, 2008.

Our AMIDEX^TM Cancer Innovations and Healthcare Mutual Fund fell -7.48%^** for the 12 month period ending May 31, 2008. For the same period, the Russell 2000 Healthcare Index declined -4.24%. Since inception on November 1, 2001, the AMIDEX^TM Cancer Innovations & Healthcare Mutual Fund had an annualized return of 2.25%^** as the Russell 2000 Healthcare Index rose 5.10% during the same period. Within the pharmaceutical industry, generic price competition remains severe, as patents have expired. Meanwhile, the number of internally developed new products with potential for higher prices continues to be meager.

^** The returns stated above do not take into consideration transaction charges such as sales loads. If these fees were taken into consideration, the one year and since inception returns for the AMIDEX35^TM Cancer Innovations & Healthcare Fund Class A shares would be -12.56% and 1.38%, respectively. There is a maximum sales load of 5.50% on certain Class A subscriptions.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

Portfolio Summary - The AMIDEX^TM Cancer Innovations & Healthcare Index includes leading pharmaceutical, biotech and medical equipment companies focused on cancer detection and treatment. AMIDEX^TM Cancer Innovations and Healthcare Mutual Fund’s total industry holdings as of May 31, 2008 were as follows:

Pharmaceuticals	42.36%
Biotechnology	26.68%
Healthcare Products	13.03%

Portfolio holdings are subject to change. Percentages are based on total net assets of the Fund at May 31, 2008.

Our primary investment strategies and objectives remain unchanged. Our Funds are based on indices, and there has been no change in the underlying indices or portfolios, other than routine maintenance as outlined in the prospectuses.

We continue to believe in the merits of investing in our AMIDEX35^TM Israel Mutual Fund and our AMIDEX^TM Cancer Innovations & Healthcare Fund, and we remain committed to the index methodology as the best method of holding portfolios of stocks in our specialty niches. We encourage our investors to remain focused on the long-term prospects for the Funds, and to persevere through the uncertainties that still lie ahead.

Lets hope that the future brings comfort to those who are suffering, calm to regions too long plagued by violence, and security, both physical and economic, to all Americans.

Best regards,

Cliff Goldstein

President, AMIDEX^TM Funds, Inc.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current Fund prospectus.

The performance information quoted in this Annual Report assumes the reinvestment of all dividend and capital gain distributions, if any, and represents past performance, which is not a guarantee of future results. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. An investor's return and principal value will fluctuate so that an investor's shares, when redeemed, may be more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Please call 215.830.8712 or visit the fund’s website http://www.amidex.com/fund.htm for current performance data. We advise you to consider the fund’s objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about the fund. Please read the prospectus carefully before you invest.

The AMIDEX35™ Index is a market capitalization weighted index, consisting of the thirty five highest capitalized Israeli companies publicly traded on the TASE, NASDAQ, or NYSE. The AMIDEX35™ Index is not an investment product available for purchase.

The AMIDEX^TM Cancer Innovations & Healthcare Index is an enhanced market capitalization weighted index, consisting of the 45 highest capitalized pharmaceutical, bio-tech and medical equipment companies publicly traded on U.S. exchanges. The AMIDEX^TM Cancer Innovations & Healthcare Index is not an investment product available for purchase.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

Information About Your Fund’s Expenses (Unaudited)

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments, reinvested dividends, or other distributions, redemption fees and exchange fees; and (2) ongoing costs, including management fees, distribution and service (12b-1) fees; and other Fund expenses. The example below is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The table below illustrates an example investment of $1,000 at the beginning of the period (November 30, 2007) and held for the entire period of 11/30/07 through 05/31/08. Please note however that this table is unaudited. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

Actual Expenses

The first section of the table provides information about actual account values and actual expenses (relating to the example $1,000 investment made on 11/30/07). You may use the information in this row, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first row under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second section of the table provides information about the hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the

ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. For more information on transactional costs, please refer to the Funds’ prospectus.

Expenses and Value of a $1,000 Investment for the six months ended May 31, 2008

Actual Fund Return (in parentheses)	Beginning Account Value 11/30/07	Ending Account Value 05/31/08	Expenses Paid During Period*
Amidex35TM Israel Mutual Fund No-Load Class (+14.67%)	$ 1,000.00	$ 1,146.70	$ 15.13
Amidex35TM Israel Mutual Fund Class A (+14.61%)	1,000.00	1,146.10	15.13
Amidex35TM Israel Mutual Fund Class C (+14.14%)	1,000.00	1,141.40	19.11
AmidexTM Cancer Innovations & Healthcare Fund Class A (-9.42%)	1,000.00	905.80	28.59

AMIDEX^TM Funds, Inc. ANNUAL REPORT

Information About Your Fund’s Expenses (Unaudited) (continued)

Hypothetical 5% Fund Return	Beginning Account Value 11/30/07	Ending Account Value 05/31/08	Expenses Paid During Period*
Amidex35TM Israel Mutual Fund No-Load Class	$ 1,000.00	$ 1,010.90	$ 14.18
Amidex35TM Israel Mutual Fund Class A	1,000.00	1,010.90	14.18
Amidex35TM Israel Mutual Fund Class C	1,000.00	1,007.15	17.91
AmidexTM Cancer Innovations & Healthcare Fund Class A	1,000.00	995.00	29.93

*Expenses are equal to the Funds’ annualized expense ratios of 2.82%, 2.82% and 3.57% for the Amidex35^TM Israel Mutual Fund No-Load Class, Class A and Class C shares, respectively; and 6.00% for the Amidex^TM Cancer Innovations & Healthcare Fund Class A shares, multiplied by the average account value over the period, multiplied by 183/366 to reflect the one-half year period.

Total Fund operating expense ratios as stated in the current Fund prospectus dated September 28, 2007 were as follows:

AMIDEX35TM Israel Mutual Fund Class No-Load	3.42%
AMIDEX35TM Israel Mutual Fund Class A	3.40%
AMIDEX35TM Israel Mutual Fund Class C	4.17%
AMIDEXTM Cancer Innovations & Healthcare Fund Class A	4.67%

Please see the Information About Your Fund’s Expenses, the Financial Highlights and Notes to Financial Statements (Note 4) sections of this report for expense related disclosure during the year ended May 31, 2008.

For more information on Fund expenses, please refer to the Funds’ prospectus, which can be obtained from your investment representative or by calling 888-876-3566. Please read it carefully before you invest or send money.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

COMPARISON OF A $10,000 INVESTMENT IN THE AMIDEX35^TM ISRAEL MUTUAL

FUND AND THE S&P 500 TOTAL RETURN INDEX (Unaudited)

Average Annual Total Return

		Commencement of Operations through May 31, 2008	Five Years  ending May 31, 2008	One Year  ending May 31, 2008
NoLoadClass(1)		6.78%	18.07%	17.24%
Class A(2)	With sales charge	3.79%	16.64%	10.61%
	Without sales charge	4.48%	17.97%	17.05%
Class C(3)	With contingent deferred sales charge	0.35%	17.11%	15.08%
	Without contingent deferred sales charge	0.35%	17.11%	16.24%
S&P 500 Total Return(4)		2.35%	9.76%	(6.70)%

⁽¹⁾ The AMIDEX35^™ Israel Mutual Fund No-Load shares commenced operations on June 8, 1999.

⁽²⁾ The AMIDEX35^™ Israel Mutual Fund Class A shares commenced operations on November 19, 1999.

⁽³⁾ The AMIDEX35^™ Israel Mutual Fund Class C shares commenced operations on May 19, 2000.

⁽⁴⁾ The Commencement of Operations returns for the S&P 500 Total Return Index are for the period from June 8, 1999 through May 31, 2008.

The performance information quoted in this annual report assumes the reinvestment of all dividend and capital gain distributions, if any, and represents past performance, which is not a guarantee of future results. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The investment return and principal value of an investment will fluctuate and, therefore, an investor’s shares, when redeemed, may be worth more or less than their original cost.

The above graph depicts the performance of the AMIDEX35^™ Israel Mutual Fund versus the S&P 500 Total Return Index. The S&P 500 Total Return Index by Standard and Poor’s Corp. is a capitalization-weighted index comprising 500 issues listed on various exchanges, representing the performance of the stock market generally. Please note that indices do not take into account any fees and expenses of investing in the individual securities that they track, and individuals cannot invest directly in any index.

As with any fund, save an index fund, that commonly compares its performance to the S&P 500 Total Return Index, such a comparison may be said to be inappropriate because of the dissimilarity between the Fund’s investments and the securities comprising the index; so too with the AMIDEX35^™ Israel Mutual Fund, which will not invest in certain securities comprising this index.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

COMPARISON OF A $10,000 INVESTMENT IN THE AMIDEX^TM CANCER INNOVATIONS &

HEALTHCARE FUND ⁽¹⁾ AND THE RUSSELL 2000 HEALTHCARE INDEX (Unaudited)

Average Annual Total Return

		Commencement of Operations through May 31, 2008	Five Years ending May 31, 2008	One Year ending May 31, 2008
Class A(1)	With sales charge	1.38%	5.18%	(12.56)%
	Without sales charge	2.25%	6.38%	(7.48)%
Russell 2000 Healthcare Index		5.10%	10.56%	(4.24)%

⁽¹⁾ The AMIDEX^™ Cancer Innovations & Healthcare Fund Class A shares commenced operations on November 1, 2001.

The performance information quoted in this annual report assumes the reinvestment of all dividend and capital gain distributions, if any, and represents past performance, which is not a guarantee of future results. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. The investment return and principal value of an investment will fluctuate and, therefore, an investor’s shares, when redeemed, may be worth more or less than their original cost.

The above graph depicts the performance of the AMIDEX^™ Cancer Innovations & Healthcare Fund versus the Russell 2000 Health Care Index. The Russell 2000 Health Care Index is a capitalization-weighted index of companies involved in medical services or health care. Please note that indices do not take into account any fees and expenses of investing in the individual securities that they track, and individuals cannot invest directly in any index.

As with any fund, save an index fund, that commonly compares its performance to the Russell 2000 Health Care Index, such a comparison may be said to be inappropriate because of the dissimilarity between the Fund’s investments and the securities comprising the index; so too with the AMIDEX^™ Cancer Innovations & Healthcare Fund, which will not invest in certain securities comprising this index.

AMIDEXTM Funds, Inc.
AMIDEX35TM ISRAEL MUTUAL FUND
SCHEDULE OF INVESTMENTS	ANNUAL REPORT
May 31, 2008

	Shares		Value
ISRAEL - 58.84%
COMMON STOCK - 58.84%
Banking & Insurance - 15.13%
Bank Hapoalim BM		187,228	$	943,083
Bank Leumi Le-Israel BM		183,116		993,104
Clal Insurance Enterprise Holdings Ltd.		8,756		190,760
Harel Insurance Investments & Finances Ltd.		3,000		173,362
Israel Discount Bank Ltd. *		147,810		372,722
Migdal Insurance & Financial Holdings Ltd.		172,216		258,111
Mizrahi Tefahot Bank Ltd.		38,915		331,307
				3,262,449
Chemicals - 20.16%
Israel Chemicals Ltd.		166,335		3,793,425
Makhteshim-Agan Industries Ltd.		59,487		554,611
				4,348,036
Diversified Holdings - 17.21%
Africa Israel Investments Ltd.		6,851		554,262
Clal Industries and Investments Ltd.		13,851		76,146
Delek Group Ltd.		1,564		298,687
Discount Investment Corp.		9,860		269,627
Gazit Globe Ltd.		15,000		180,778
IDB Development Corp. Ltd.		8,629		241,191
IDB Holding Corp. Ltd.		6,490		173,662
Israel Corp. Ltd. *		1,188		1,813,572
Kardan NV		6,600		102,590
				3,710,515
Food - 2.27%
Osem Investment Ltd.		19,084		269,275
Strauss Group Ltd. *		14,000		220,643
				489,918
Oil & Gas - 0.47%
Oil Refineries Ltd.		110,000		102,250
Telecommunications - 3.60%
Bezeq Israeli Telecommunication Corp. Ltd.		387,390		775,738
TOTAL COMMON STOCK (Cost $5,091,732)				12,688,906

WARRANTS - 0.00%	Expiration Date- Exercise Price
Gazit Globe, Ltd. * (Cost $0)		06/03/08 - 47.61 ILS ***	1,875		6
TOTAL ISRAEL (Cost $5,091,732)				$	12,688,912

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

AMIDEXTM Funds, Inc.
AMIDEX35TM ISRAEL MUTUAL FUND
SCHEDULE OF INVESTMENTS	ANNUAL REPORT
May 31, 2008

	Shares		Value
UNITED STATES - 40.86%
COMMON STOCK - 28.62%
Computer Hardware/Software - 4.81%
Check Point Software Technologies Ltd. *		31,695	$	786,987
Electronics for Imaging, Inc. *		8,428		139,652
Verint Systems, Inc. *		5,000		111,750
				1,038,389
Defense Equipment - 1.22%
Elbit Systems Ltd.		4,198		263,047
Electronics - 0.43%
Orbotech Ltd. *		5,382		92,193
Medical Products - 0.51%
Given Imaging Ltd. *		4,010		60,150
Syneron Medical Ltd. *		3,000		48,690
				108,840
Pharmaceuticals - 9.93%
Taro Pharmaceutical Industries Ltd. *		5,040		46,620
Teva Pharmaceutical Industries Ltd. - ADR		45,816		2,095,166
				2,141,786
Semiconductors - 0.54%
DSP Group, Inc. *		4,705		39,240
Zoran Corp. *		5,300		77,539
				116,779
Telecommunications - 10.95%
Alvarion Ltd. *		7,000		50,120
Amdocs Ltd. *		28,803		930,625
Comverse Technology, Inc. *		25,377		473,281
Nice Systems Ltd. - ADR *		3,000		105,000
Partner Communications Co. Ltd. - ADR		33,100		802,675
				2,361,701
Utilities - 0.23%
Ormat Technologies, Inc.		1,000		50,110
TOTAL COMMON STOCK (Cost $7,549,896)			$	6,172,845

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

AMIDEXTM Funds, Inc.
AMIDEX35TM ISRAEL MUTUAL FUND
SCHEDULE OF INVESTMENTS	ANNUAL REPORT
May 31, 2008

	Shares		Value
UNITED STATES - 40.86% (continued)
SHORT-TERM INVESTMENTS - 12.24%
Fidelity Institutional Money Market Fund, 2.63% ** (Cost $2,640,226)		2,640,226	$	2,640,226
TOTAL UNITED STATES (Cost $10,190,122)				8,813,071
TOTAL INVESTMENTS (Cost $15,281,854) - 99.70%			$	21,501,983
OTHER ASSETS IN EXCESS OF LIABILITIES , NET - 0.30%				65,515
NET ASSETS - 100%			$	21,567,498

* Non-income producing security.

** Rate shown represents the rate at May 31, 2008 is subject to change and resets daily.

*** Exercise Price is in Israeli shekels.

ADR American Depository Receipt.

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

AMIDEXTMFunds, Inc.
AMIDEXTM CANCER INNOVATIONS & HEALTHCARE FUND
SCHEDULE OF INVESTMENTS	Annual Report
May 31, 2008

	Shares		Value
COMMON STOCK - 82.07%
Biotechnology - 26.68%
Amgen, Inc. *		325	$	14,310
Biogen Idec, Inc. *		575		36,081
Celgene Corp. *		700		42,602
Enzon Pharmaceuticals, Inc. *		100		880
Genentech, Inc. *		600		42,522
Genzyme Corp. *		346		23,687
Human Genome Sciences, Inc. *		600		3,528
Immunomedics, Inc. *		100		267
Myriad Genetics, Inc. *		100		4,842
PDL BioPharma, Inc.		500		5,125
Vertex Pharmaceuticals, Inc. *		200		5,726
				179,570
Healthcare Products - 13.03%
Beckman Coulter, Inc.		200		13,878
Hologic, Inc. *		416		9,996
Johnson & Johnson		600		40,044
Varian Medical Systems, Inc. *		500		23,770
				87,688
Pharmaceuticals - 42.36%
Abbott Laboratories		400		22,540
AstraZeneca Plc. - ADR		600		26,214
Bristol-Myers Squibb Co.		800		18,232
Cell Therapeutics, Inc. *		25		15
Elan Corp. Plc. - ADR *		100		2,504
Eli Lilly & Co.		400		19,256
Gilead Sciences, Inc. *		1,100		60,852
GlaxoSmithKline Plc. - ADR		500		22,265
ImClone Systems, Inc. *		300		13,074
Medarex, Inc. *		200		1,742
Merck & Co., Inc.		400		15,584
Novartis AG - ADR		450		23,558
Pfizer, Inc.		1,050		20,328
QLT, Inc. *		300		1,185
Schering-Plough Corp.		600		12,240
Valeant Pharmaceuticals International *		200		3,274
Wyeth		500		22,235
				285,098
TOTAL COMMON STOCK (Cost $519,628)				552,356
SHORT-TERM INVESTMENTS - 18.03%
Fidelity Institutional Money Market Fund, 2.63%** (Cost $121,360)		121,360	$	121,360
TOTAL INVESTMENTS (Cost $640,988) - 100.10%			$	673,716
LIABILITIES IN EXCESS OF OTHER ASSETS, NET - (0.10)%				(680	)
NET ASSETS - 100%			$	673,036

* Non-income producing security.

** Rate shown represents the rate at May 31, 2008, is subject to change and resets daily.

ADR  -  American Depository Receipt

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
STATEMENT OF ASSETS AND LIABILITIES - May 31, 2008

	AMIDEX35TM
	Israel Mutual Fund
Assets:
Investments, at market (cost: $15,281,854)	$	21,501,983
Receivables:
Dividends		22,263
Interest		5,750
Fund shares sold		98,919
Due from Advisor		2,106
Prepaid expenses		20,181
Total assets		21,651,202
Liabilities:
Payables:
Fund shares purchased		3,171
Investment advisory and administrative fees		14,989
Fund accounting/transfer agency fees		10,796
Distribution fees		10,430
Other liabilities and accrued expenses		44,318
Total liabilities		83,704
Net Assets	$	21,567,498
Net Assets consist of:
Common stock	$	133
Additional paid-in capital		22,308,230
Accumulated realized loss on investments		(6,961,168	)
Net unrealized appreciation on investments		6,220,303
Total Net Assets (1,329,160 shares outstanding; 500,000,000 shares of $0.0001 par value authorized in the aggregate for both the AMIDEX35TM Israel Mutual Fund and the AMIDEXTM Cancer Innovations & Healthcare Fund)	$	21,567,498
No-load class shares:
Net Assets applicable to 927,798 shares outstanding	$	16,517,471
Net Asset Value, and offering price per share	$	17.80
Redemption price per share No-load class *	$	17.44
Class A shares:
Net Assets applicable to 274,600 shares outstanding	$	3,770,746
Net Asset Value and redemption price per share	$	13.73
Offering price per share Class A **	$	14.53
Class C shares:
Net Assets applicable to 126,762 shares outstanding	$	1,279,281
Net Asset Value and offering price per share	$	10.09
Redemption price per share Class C ***	$	9.99

* A redemption fee of 2.00% is imposed on redemptions occurring within 365 days of purchase.

** A maximum sales charge of 5.50% is imposed on Class A shares.

*** A contingent deferred sales charge ("CDSC") of 1.00% is imposed in the event of certain redemption transactions within thirteen months following such investments.

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
STATEMENT OF ASSETS AND LIABILITIES - May 31, 2008

	AMIDEXTM Cancer Innovations & Healthcare Fund
Assets:
Investments, at market (cost: $640,988)	$	673,716
Receivables:
Dividends		1,199
Interest		202
Due from Advisor		72
Prepaid expenses		4,167
Total assets		679,356
Liabilities:
Payables:
Investment advisory and administrative fees		491
Fund accounting/transfer agency fees		348
Distribution fees		962
Other liabilities and accrued expenses		4,519
Total liabilities		6,320
Net Assets	$	673,036
Net Assets consist of:
Common stock	$	9
Additional paid-in capital		566,685
Accumulated undistributed realized gain on investments		73,614
Net unrealized appreciation on investments		32,728
Total Net Assets (85,321 shares outstanding; 500,000,000 shares of $0.0001 par value authorized in the aggregate for both the AMIDEX35TM Israel Mutual Fund and the AMIDEXTM Cancer Innovations & Healthcare Fund)	$	673,036
Class A shares:
Net Assets applicable to 85,321 shares outstanding	$	673,036
Net Asset Value and redemption price per share	$	7.89
Offering price per share Class A *	$	8.35

* A maximum sales charge of 5.50% is imposed on Class A shares.

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
STATEMENT OF OPERATIONS

	AMIDEX35TM Israel Mutual Fund For the Year Ended May 31, 2008
Investment income:
Dividends (net of foreign withholding taxes of: $94,485)	$	439,707
Interest		81,520
Total investment income		521,227
Expenses:
Investment advisory fees		141,350
Distribution fees - No-load Class		34,104
Distribution fees - Class A		7,565
Distribution fees - Class C		10,013
Accounting and transfer agent fees		127,186
Legal fees		43,910
Audit fees		36,560
Registration fees		27,786
Custody fees		25,020
Insurance fees		16,351
Administrative fees		17,669
Out of pocket expenses		13,259
Miscellaneous		13,174
Trustee fees		8,176
Pricing fees		4,604
Total expenses		526,727
Net investment loss		(5,500	)
Realized and unrealized gain on investments:
Net realized gain on investments		76,791
Net change in unrealized appreciation on investments		3,050,966
		3,127,757
Net increase in net assets resulting from operations	$	3,122,257

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
STATEMENT OF OPERATIONS

	AMIDEXTM Cancer Innovations & Healthcare Fund For the Year Ended May 31, 2008
Investment income:
Dividends	$	11,935
Interest		1,047
Total investment income		12,982
Expenses:
Investment advisory fees		5,576
Distribution fees - Class A		1,743
Accounting and transfer agent fees		5,001
Custody fees		5,971
Registration fees		5,230
Audit fees		5,793
Pricing fees		3,462
Legal fees		1,743
Miscellaneous		609
Out of pocket expenses		1,160
Trustee fees		335
Insurance fees		906
Administrative fees		697
Total expenses		38,226
Net investment loss		(25,244	)
Realized and unrealized gain (loss) on investments:
Net realized gain on investments		96,770
Net change in unrealized appreciation on investments		(122,712	)
		(25,942	)
Net decrease in net assets resulting from operations	$	(51,186	)

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
STATEMENTS OF CHANGES IN NET ASSETS

	AMIDEX35TM Israel Mutual Fund
	Year Ended May 31, 2008			Year Ended May 31, 2007
Increase in Net Assets
Operations:
Net investment loss	$	(5,500	)	$	(12,340	)
Net realized gain (loss) on investments		76,791			(526,275	)
Net change in unrealized appreciation on investments		3,050,966			4,137,841
Net increase in net assets resulting from operations		3,122,257			3,599,226
Distributions to shareholders from:
Net investment income		(12,529	)		-
Increase in net assets from Fund share transactions (Note 2)		1,636,757			171,068
Total increase in net assets		4,746,485			3,770,294
Net Assets:
Beginning of year		16,821,013			13,050,719
End of year	$	21,567,498		$	16,821,013
Accumulated undistributed net investment income	$	-		$	-

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
STATEMENTS OF CHANGES IN NET ASSETS

	AMIDEXTM Cancer Innovations & Healthcare Fund
	Year Ended May 31, 2008			Year Ended May 31, 2007
Decrease in Net Assets
Operations:
Net investment loss	$	(25,244	)	$	(34,770	)
Net realized gain on investments		96,770			147,340
Net change in unrealized appreciation on investments		(122,712	)		7,561
Net increase (decrease) in net assets resulting from operations		(51,186	)		120,131
Distributions to shareholders from:
Net realized gain		(167,180	)		(54,390	)
Increase (decrease) in net assets from Fund share transactions (Note 2)		13,757			(276,849	)
Total decrease in net assets		(204,609	)		(211,108	)
Net Assets:
Beginning of year		877,645			1,088,753
End of year	$	673,036		$	877,645
Accumulated undistributed net investment income	$	-		$	-

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
FINANCIAL HIGHLIGHTS
Per Share Data For a Share Outstanding Throughout Each Fiscal Year

	AMIDEX35TM Israel Mutual Fund No-Load Class
	For the Year Ended May 31, 2008			For the Year Ended May 31, 2007			For the Year Ended May 31, 2006			For the Year Ended May 31, 2005			For the Year Ended May 31, 2004
Net Asset Value, Beginning of Year	$	15.19		$	11.66		$	10.56		$	9.29		$	7.76
Investment Operations:
Net investment income (loss) (a)		-	(b)		(0.01	)		(0.17	)		(0.15	)		(0.19	)
Net realized and unrealized gain on investments		2.60			3.54			1.27			1.42			1.72
Total from investment operations		2.60			3.53			1.10			1.27			1.53
Distributions:
From net investment income		(0.01	)		-			-			-			-
Total distributions		(0.01	)		-			-			-			-
Paid in capital from redemption fees		0.02			-	(c)		-	(c)		-	(c)		-
Net Asset Value, End of Year	$	17.80		$	15.19		$	11.66		$	10.56		$	9.29
Total Return (d)		17.24	%		30.27	%		10.42	%		13.67	%		19.72	%
Ratios/Supplemental Data
Net assets, end of year (in 000's)	$	16,517		$	13,388		$	9,409		$	9,489		$	8,454
Ratio of expenses to average net assets:		2.94	%		3.40	%		3.39	%		3.53	%		3.47	%
Ratio of net investment income (loss) to average net assets:		0.02	%		(0.07	)%		(1.53	)%		(1.61	)%		(2.21	)%
Portfolio turnover rate		1.07	%		6.31	%		0.00	%		10.39	%		14.62	%

^(a)Net investment income (loss) per share is based on average shares outstanding.

^(b)Net investment income per share resulted in less than $0.01 per share.

^(c)Redemption fees resulted in less than $0.01 per share.

^(d)Total return in the above table represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends.

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
FINANCIAL HIGHLIGHTS
Per Share Data For a Share Outstanding Throughout Each Fiscal Year

	AMIDEX35TM Israel Mutual Fund Class A
	For the Year Ended May 31, 2008			For the Year Ended May 31, 2007			For the Year Ended May 31, 2006			For the Year Ended May 31, 2005			For the Year Ended May 31, 2004
Net Asset Value, Beginning of Year	$	11.75		$	9.02		$	8.17		$	7.20		$	6.02
Investment Operations:
Net investment income (loss) (a)		-	(b)		0.01			(0.13	)		(0.12	)		(0.15	)
Net realized and unrealized gain on investments		2.00			2.72			0.98			1.09			1.33
Total from investment operations		2.00			2.73			0.85			0.97			1.18
Distributions:
From net investment income		(0.02	)		-			-			-			-
Total distributions		(0.02	)		-			-			-			-
Net Asset Value, End of Year	$	13.73		$	11.75		$	9.02		$	8.17		$	7.20
Total Return (c)		17.05	%		30.27	%		10.40	%		13.47	%		19.60	%
Ratios/Supplemental Data
Net assets, end of year (in 000's)	$	3,771		$	2,555		$	2,899		$	2,236		$	3,085
Ratio of expenses to average net assets:		2.93	%		3.38	%		3.40	%		3.50	%		3.48	%
Ratio of net investment income (loss) to average net assets:		0.00	%		0.11	%		(1.50	)%		(1.61	)%		(2.22	)%
Portfolio turnover rate		1.07	%		6.31	%		0.00	%		10.39	%		14.62	%

^(a)Net investment income (loss) per share is based on average shares outstanding.

^(b)Net investment income per share resulted in less than $0.01 per share.

^(c)Total return in the above table represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends.

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
FINANCIAL HIGHLIGHTS
Per Share Data For a Share Outstanding Throughout Each Fiscal Year

	AMIDEX35TM Israel Mutual Fund Class C
	For the Year Ended May 31, 2008			For the Year Ended May 31, 2007			For the Year Ended May 31, 2006			For the Year Ended May 31, 2005			For the Year Ended May 31, 2004
Net Asset Value, Beginning of Year	$	8.68		$	6.71		$	6.13		$	5.44		$	4.58
Investment Operations:
Net investment loss (a)		(0.07	)		(0.06	)		(0.15	)		(0.14	)		(0.15	)
Net realized and unrealized gain on investments		1.48			2.03			0.73			0.83			1.01
Total from investment operations		1.41			1.97			0.58			0.69			0.86
Net Asset Value, End of Year	$	10.09		$	8.68		$	6.71		$	6.13		$	5.44
Total Return (b)		16.24	%		29.36	%		9.46	%		12.68	%		18.78	%
Ratios/Supplemental Data
Net assets, end of year (in 000's)	$	1,279		$	878		$	743		$	645		$	560
Ratio of expenses to average net assets:		3.69	%		4.15	%		4.15	%		4.29	%		4.20	%
Ratio of net investment loss to average net assets:		(0.75	)%		(0.88	)%		(2.28	)%		(2.51	)%		(2.92	)%
Portfolio turnover rate		1.07	%		6.31	%		0.00	%		10.39	%		14.62	%

^(a)Net investment loss per share is based on average shares outstanding.

^(b)Total return in the above table represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends.

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

AMIDEXTM Funds, Inc.	ANNUAL REPORT
FINANCIAL HIGHLIGHTS
Per Share Data For a Share Outstanding Throughout Each Fiscal Year

	AMIDEXTM Cancer Innovations & Healthcare Fund Class A
	For the Year Ended May 31, 2008			For the Year Ended May 31, 2007			For the Year Ended May 31, 2006			For the Year Ended May 31, 2005			For the Year Ended May 31, 2004
Net Asset Value, Beginning of Year	$	11.67		$	10.95		$	10.55		$	10.32		$	8.50
Investment Operations:
Net investment loss (a)		(0.35	)		(0.38	)		(0.36	)		(0.32	)		(0.34	)
Net realized and unrealized gain (loss) on investments		(0.43	)		1.71			0.76			0.69			2.16
Total from investment operations		(0.78	)		1.33			0.40			0.37			1.82
Distributions:
From net realized capital gain		(3.00	)		(0.61	)		-			(0.14	)		-
Total distributions		(3.00	)		(0.61	)		-			(0.14	)		-
Net Asset Value, End of Year	$	7.89		$	11.67		$	10.95		$	10.55		$	10.32
Total Return (b)		(7.48	)%		12.62	%		3.79	%		3.75	%		21.41	%
Ratios/Supplemental Data
Net assets, end of year (in 000's)	$	673		$	878		$	1,089		$	1,064		$	1,057
Ratio of expenses to average net assets:		5.48	%		4.66	%		4.46	%		4.45	%		4.56	%
Ratio of net investment loss to average net assets:		(3.62	)%		(3.40	)%		(3.26	)%		(3.33	)%		(3.57	)%
Portfolio turnover rate		1.42	%		0.00	%		12.42	%		2.14	%		0.00	%

^(a)Net investment loss per share is based on average shares outstanding.

^(b)Total return in the above table represents the rate that the investor would have earned or lost on an investment in the Fund assumingreinvestment of dividends.

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

AMIDEX^TM Funds, Inc. ANNUAL REPORT

NOTES TO THE FINANCIAL STATEMENTS

May 31, 2008

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

AMIDEX^TM Funds, Inc. (the “Company”) was incorporated under the laws of the state of Maryland on April 27, 1999, and currently consists of two active portfolios, the AMIDEX35^TM Israel Mutual Fund, and the AMIDEX^TM Cancer Innovations & Healthcare Fund (each a “Fund” and collectively the “Funds”). The Funds are non-diversified Funds. The Company is registered as an open-end management investment company under the Investment Company Act of 1940 (the “1940 Act”). The Funds were registered to offer four classes of shares, Class A, Class B, Class C and No-load class, with only the Class A, Class C and No-load shares currently being offered in the AMIDEX35 ^TM Israel Mutual Fund and only Class A shares being offered in the AMIDEX^TM Cancer Innovations & Healthcare Fund. Each class differs as to sales and redemption charges, minimum investment amounts and ongoing fees. Income and realized/unrealized gains or losses are allocated to each class based on relative share balances. The Funds’ investment objectives are long term growth of capital. The AMIDEX35^TM Israel Mutual Fund became effective with the SEC on April 27, 1999 and commenced operations on June 8, 1999. The AMIDEX^TM Cancer Innovations & Healthcare Fund became effective with the SEC on August 1, 2001 and commenced operations on November 1, 2001.

The following is a summary of significant accounting policies consistently followed by the Funds. The policies are in conformity with accounting principles generally accepted in the United States of America.

a)Investment Valuation—A portfolio security listed or traded on an exchange in domestic or international markets is valued at the last reported sale price of the primary exchange on which it trades before the time when the fund values assets. Lacking any sales on the principal exchange that day, the security is valued at the mean between the last reported bid and ask prices, if available. Securities traded on more than one market are valued using the market identified as primary based on trading volume and activity. Equity securities traded on the NASDAQ National Market System are valued at the NASDAQ Official Closing Price. If there are no sales that day, such securities will be valued at the mean between the bid and ask quotation, if available. Other over-the-counter securities are valued at the last sale price, if published, or the mean between the last bid and ask quotation, if available. Debt securities with maturities of sixty days or less at the time of purchase are valued based on amortized cost. If market quotations are not readily available, or when the portfolio management team believes that a readily available market quotation or other valuation produced by the fund's valuation policies is not reliable, the fund values the assets at fair value using procedures established by the Board of Directors. The Board members have delegated pricing authority to the fair valuation committee of the adviser, for certain pricing issues, as defined in the valuation procedures. Events affecting the value of securities that occur between the time prices are established and the New York Stock Exchange closes are not reflected in the calculation of net asset value unless the fair valuation committee decides that the event would materially affect the net asset value. If the event would materially affect the fund's net asset value, the security will be fair valued by the fair valuation committee or, at its discretion, by an independent fair valuation vendor. At May 31, 2008, no securities were valued as determined by the Board of Directors.

b)Foreign Currency Translation—Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the exchange rate of such currencies against U.S. dollars on the date of valuation. Purchases and sales of securities and income items denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date. The Fund does not separately report the effect of changes in foreign exchange rates from changes in market prices on securities held. Such changes are included in net realized and unrealized gain or loss from investments. Realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions and the difference between the recorded amounts of dividends, interest and foreign withholding taxes, and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in foreign exchange rates on foreign currency denominated assets and liabilities other than investments in securities held at the end of the reporting period.

c)Federal Income Taxes—No provision for federal income taxes has been made since the AMIDEX35^TM Israel Mutual Fund and the AMIDEX^TM Cancer Innovations & Healthcare Fund have complied to date with sub-chapter M of the Internal Revenue Code applicable to regulated investment companies and intends to so comply in the future and to distribute all of its net investment income and realized capital gains to its shareholders.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

NOTES TO THE FINANCIAL STATEMENTS

May 31, 2008

1.ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (continued)

Effective November 30, 2007, the Funds adopted Financial Accounting Standards Board (FASB) Interpretation No. 48 (FIN 48), “Accounting for Uncertainty in Income Taxes”, a clarification of FASB No. 109, “Accounting for Income Taxes”. FIN 48 establishes financial reporting rules regarding recognition and measurement of tax positions taken or expected to be taken on a tax return. FIN 48 was applied to all open tax years as of the effective date. The adoption of FIN 48 had no impact on the Funds’ net assets or results of operations.

As of and during the period ended May 31, 2008, the Funds did not have a liability for any unrecognized tax benefits. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statements of operations. During the period, the Funds did not incur any interest or penalties.

d)Distributions to Shareholders—Dividends from net investment income and distributions of net realized capital gains, if any, will be declared and paid at least annually. Income and capital gain distributions, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date. Accounting principles generally accepted in the United States of America require that permanent financial reporting differences relating to shareholder distributions be reclassified to paid-in capital or net realized gain.

e) Use of Estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires 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.

f) Redemption fees and sales charges (loads)—Shareholders of AMIDEX35 ^TM Israel Mutual Fund No-load shares that redeem shares within 365 days of purchase will be assessed a redemption fee of 2.00% of the amount redeemed. The redemption fee is paid directly to and retained by the Fund, and is designed to deter excessive short-term trading and to offset brokerage commissions, market impact and other costs that may be associated with short-term money movement in and out of the Fund. A maximum sales charge of 5.00% is imposed on Class A shares of the AMIDEX35 ^TM Israel Mutual Fund and the AMIDEX^TM Cancer Innovations & Healthcare Fund. Shareholders of the AMIDEX35 ^TM Israel Mutual Fund Class C shares are imposed a contingent deferred sales charge (“CDSC”) of 1.00% in the event of certain redemption transactions within thirteen months following such investments. The CDSC is paid directly to the Adviser to reimburse expenses incurred in providing distribution-related services to the Fund. For the fiscal year ended May 31, 2008, there were redemption fees of $15,114 paid to the AMIDEX35 ^TM Israel Mutual Fund and CDSC fees of $142 paid to the Adviser.

g) Other—Investment and shareholder transactions are recorded on trade date. The Funds determine the gain or loss realized from the investment transactions by comparing the original cost of the security lot sold with the net sales proceeds. Dividend income is recognized on the ex-dividend date or as soon as information is available to the Fund and interest income is recognized on an accrual basis. Withholding taxes on foreign dividends have been provided for in accordance with the Funds’ understanding of the applicable country’s tax rules and rates.

In September 2006, FASB issued Statement on Financial Accounting Standards (SFAS) No. 157 “Fair Value Measurements”. This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires additional disclosure about fair value measurements. SFAS No. 157 applies to fair value measurements already required or permitted by existing standards. SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years. The changes to current generally accepted accounting principles from the application of this Statement relate to the definition of fair value, the methods used to measure fair value, and the expanded disclosures about fair value measurements. As of May 31, 2008, the Funds do not believe the adoption of SFAS No. 157 will impact the amounts reported in the financial statements, however, additional disclosures may be required about the inputs used to develop the measurements and the effect of certain of the measurements reported on the statement of changes in net assets for a fiscal period.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

NOTES TO THE FINANCIAL STATEMENTS

May 31, 2008

2. CAPITAL SHARE TRANSACTIONS

Transactions in shares of capital stock for the AMIDEX35^TM Israel Mutual Fund for the year ended May 31, 2008 were as follows:

	No-load
	Shares			Amount
Sold		189,982		$	2,926,746
Reinvested		361			5,812
Redeemed		(143,851	)		(2,175,623	)
Net Increase		46,492		$	756,935

	Class A
	Shares			Amount
Sold		125,237		$	1,457,484
Reinvested		447			5,552
Redeemed		(68,596	)		(811,256	)
Net Increase		57,088		$	651,780

	Class C
	Shares			Amount
Sold		33,459		$	296,817
Redeemed		(7,786	)		(68,775	)
Net Increase		25,673		$	228,042

Transactions in shares of the AMIDEX^TM Cancer Innovations & Healthcare Fund for the year ended May 31, 2008 were as follows:

	Class A
	Shares			Amount
Sold		23,697		$	190,677
Reinvested		16,722			135,945
Redeemed		(30,286	)		(312,865	)
Net Increase		10,133		$	13,757

Transactions in shares of capital stock for the AMIDEX35^TM Israel Mutual Fund for the year ended May 31, 2007 were as follows:

	No-load
	Shares			Amount
Sold		191,318		$	2,485,848
Redeemed		(117,140	)		(1,447,633	)
Net Increase		74,178		$	1,038,215

	Class A
	Shares			Amount
Sold		104,211		$	1,115,942
Redeemed		(208,123	)		(1,922,931	)
Net Decrease		(103,912	)	$	(806,989	)

	Class C
	Shares			Amount
Sold		22,851		$	171,647
Redeemed		(32,397	)		(231,805	)
Net Decrease		(9,546	)	$	(60,158	)

AMIDEX^TM Funds, Inc. ANNUAL REPORT

NOTES TO THE FINANCIAL STATEMENTS

May 31, 2008

2. CAPITAL SHARE TRANSACTIONS (continued)

Transactions in shares of the AMIDEX^TM Cancer Innovations & Healthcare Fund for the year ended May 31, 2007 were as follows:

	Class A
	Shares			Amount
Sold		6,646		$	74,018
Reinvested		4,185			45,328
Redeemed		(35,095	)		(396,195	)
Net Decrease		(24,264	)	$	(276,849	)

3.INVESTMENT TRANSACTIONS

For the year ended May 31, 2008, aggregate purchases and sales of investment securities (excluding short-term investments) for each Fund were as follows:

	Purchases		Sales
AMIDEX35TM Israel Mutual Fund	$	321,400	$	170,519
AMIDEXTM Cancer Innovations & Healthcare Fund		9,601		306,638

There were no government securities purchased or sold during the year.

4. ADVISORY FEES AND OTHER RELATED PARTY TRANSACTIONS

Effective October 1, 2003, the Funds have entered into an Advisory Agreement with Index Investments, LLC (“II”) to provide investment management services to the Funds. II furnishes, at its own expense, office space to the Funds and all necessary office facilities, equipment and personnel for managing the assets of the Funds. II also pays all expenses of marketing shares of the Funds and related bookkeeping. Pursuant to the Advisory Agreement, II is entitled to receive a fee, calculated daily and payable monthly at the annual rate of 0.80% as applied to the Funds’ daily net assets. For the year ended May 31, 2008, the AMIDEX35^TM Israel Mutual Fund incurred $141,350 of advisory fees, with $11,180 remaining payable at May 31, 2008. For the year ended May 31, 2008, the AMIDEX^TM Cancer Innovations & Healthcare Fund incurred $5,576 of advisory fees, with $365 remaining payable at May 31, 2008.

Effective October 1, 2003, the Funds have entered into an Administrative Services Agreement (“ASA”) with II to provide administrative services to the Funds. Pursuant to the ASA, II is entitled to receive a fee, calculated daily and payable monthly at the annual rate of 0.10% as applied to the Funds’ daily net assets. For the year ended May 31, 2008, the AMIDEX35^TM Israel Mutual Fund incurred $17,669 of administrative fees, with $1,703 remaining payable at May 31, 2008. For the year ended May 31, 2008, the AMIDEX^TM Cancer Innovations & Healthcare Fund incurred $697 of administrative fees, with $54 remaining payable at May 31, 2008.

One director of the Funds is also an Officer of II.

The Funds have entered into an Investment Company Services Agreement (“ICSA”) with Matrix Capital Group, Inc. (“Matrix”). Pursuant to the ICSA, Matrix will provide day-to-day operational services to the Funds including, but not limited to, accounting, administrative, transfer agent, dividend disbursement, registrar and record keeping services. For its services, Matrix receives $11,000 per month which is allocated to the Funds based on their respective average daily net assets. For the year ended May 31, 2008, Matrix earned $132,187 with $11,144 remaining payable at May 31, 2008.

Certain Officers of the Funds are also employees of Matrix.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

NOTES TO THE FINANCIAL STATEMENTS

May 31, 2008

4. ADVISORY FEES AND OTHER RELATED PARTY TRANSACTIONS (continued)

The Funds and II have entered into a Distribution Agreement with Matrix Capital Group, Inc. Pursuant to the Distribution Agreement, Matrix will provide distribution services to the Funds. Matrix serves as underwriter/distributor of the Funds. Pursuant to the Distribution Agreement, Matrix receives $20,000 per year from the Funds allocated based on their respective average daily net assets. Matrix also receives commissions from the sale of Class A Fund shares for which they are the broker of record. The allocated distribution fees are reduced by the amount of commissions received and the remainder is paid from the accruals pursuant to Rule 12b-1 under the Investment Company Act of 1940. For the year ended May 31, 2008, Matrix received net distribution fees of $14,958 and $406 from the AMIDEX35^TM Israel Mutual Fund and the AMIDEX^TM Cancer Innovations & Healthcare Fund, respectively. For the year ended May 31, 2008, Matrix received commissions from the sale of Fund shares of $3,728 and $908 from the AMIDEX35^TM Israel Mutual Fund Class A and the AMIDEX^TM Cancer Innovations & Healthcare Fund Class A, respectively.

A separate plan of distribution has been adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940 for each class of shares. With respect to Class A and the No-load class of shares, the plan provides that the Funds may pay a servicing or Rule 12b-1 fee of up to 0.25% annually of the Funds' average net assets attributable to each class of shares, respectively, and up to 1.00% annually of the Funds’ average net assets attributable to Class C shares to persons or institutions for performing certain servicing functions for the Funds' shareholders. The distribution plans are compensation plans, which also allow the Funds to pay or reimburse expenditures in connection with sales, and promotional services related to distribution of the Funds' shares, including personal services provided to prospective and existing shareholders.

The distribution plans for the shares in the AMIDEX35^TM Israel Mutual Fund Class A, the No-load class and Class C took effect November 19, 1999, June 8, 1999 and May 19, 2000, respectively. The distribution plan for the Class A shares in the AMIDEX^TM Cancer Innovations & Healthcare Fund took effect November 1, 2001. For the year ended May 31, 2008, the AMIDEX35^TM Israel Mutual Fund incurred $51,682 in 12b-1 fees with $10,430 remaining payable at May 31, 2008. For the year ended May 31, 2008, the AMIDEX^TM Cancer Innovations & Healthcare Fund incurred $1,743 in 12b-1 fees with $962 remaining payable at May 31, 2008.

5. TAX MATTERS

The tax character of distributions paid for the years ended May 31, 2008 and May 31, 2007 were as follows:

	2008
	Ordinary Income		Long-Term Capital Gains
AMIDEX35TM Israel Mutual Fund	$	12,529	$	-
AMIDEXTM Cancer Innovations & Healthcare Fund		-		167,180

	2007
	Ordinary Income		Long-Term Capital Gains
AMIDEXTM Cancer Innovations & Healthcare Fund	$	-	$	54,390

There were no distributions during the fiscal year ended May 31, 2007 for the AMIDEX35^TM Israel Mutual Fund.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

NOTES TO THE FINANCIAL STATEMENTS

May 31, 2008

5. TAX MATTERS (continued)

As of May 31, 2008, the Funds’ most recent fiscal year end, the components of distributable earnings on a tax basis were as follows:

	AMIDEX35TM Israel Mutual Fund			AMIDEXTM Cancer Innovations & Healthcare Fund
Cost of investments for tax purposes	$	16,432,472		$	640,988
Unrealized Appreciation / (Depreciation):
Gross Appreciation		10,268,432			147,531
Gross Depreciation		(5,198,747	)		(114,803	)
Net Unrealized Appreciation / (Depreciation)	$	5,069,685		$	32,728
Undistributed Long-term Capital Gain		-			73,614
Capital Loss Carryforwards		(5,810,550	)		-
Distributable Earnings, Net	$	(740,865	)	$	106,342

The difference between book basis and tax-basis unrealized appreciation is attributable primarily to the tax deferral of losses on wash sales for the AMIDEX35^TM Israel Mutual Fund.

As of May 31, 2008 the Funds had capital loss carryforwards available for federal income tax purposes as follows:

	AMIDEX35TM Israel Mutual Fund			AMIDEXTM Cancer Innovations & Healthcare Fund
Expiring in: 2010	$	(1,720,156	)	$	-
Expiring in: 2011	$	(100,824	)	$	-
Expiring in: 2012	$	(1,246,393	)	$	-
Expiring in: 2013	$	(323,400	)	$	-
Expiring in: 2014	$	(1,409,903	)	$	-
Expiring in: 2015	$	(1,009,874	)	$	-

At May 31, 2008, the AMIDEX35 ^TM Israel Mutual Fund had available for federal income tax purposes unused capital loss carryforwards of $5,810,550, which is available for offset against future capital gains, the use of a portion of which is limited by IRS regulations. To the extent this loss carryforward is used to offset future capital gains, it is probable that the amount offset will not be distributed to shareholders.

6. RECLASS OF CAPITAL ACCOUNTS

In accordance with accounting pronouncements, the Fund has recorded reclassifications in the capital accounts. These reclassifications have no impact on the net asset value of the Fund and are designed generally to present undistributed net investment income and paid-in capital on a tax basis which is considered to be more informative to the shareholder. As of May 31, 2008, the Fund recorded reclassifications to increase (decrease) the capital accounts as follows:

	Net Investment Loss		Paid-in Capital			Accumulated Capital Gains
AMIDEX35TM Israel Mutual Fund	$	17,759	$	(16,079	)	$	(1,680	)
AMIDEXTM Cancer Innovations & Healthcare Fund	$	25,244	$	(25,244	)		-

AMIDEX^TM Funds, Inc. ANNUAL REPORT

NOTES TO THE FINANCIAL STATEMENTS

May 31, 2008

7. CONCENTRATION OF RISK

The AMIDEX35^TM Israel Mutual Fund invests exclusively in common stock of Israeli companies. Investing in the companies from one geographic region may pose additional risks inherent to a region's economical and political situation.

A large portion of investments held by AMIDEX35^TM Israel Mutual Fund are considered investments in the technology sector of the market. All investments in common stock held by AMIDEX^TM Cancer Innovations & Healthcare Fund are identified as belonging to the healthcare sector of the market. Investing in a single market sector may be riskier than investing in a variety of market sectors.

8. BENEFICIAL OWNERSHIP

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates a presumption of control of the fund, under Section 2(a)(9) of the Investment Company Act of 1940. As of May 31, 2008, FTC & Co. Datalynx and Merrill Lynch Pierce, Fenner & Smith, Inc. held 31.26% and 27.75% respectively, of AMIDEX35^TM Israel Mutual Fund Class A shares in omnibus accounts for the sole benefit of their customers. As of May 31, 2008, Merrill Lynch Pierce, Fenner & Smith, Inc. held 49.42% of AMIDEX35^TM Israel Mutual Fund Class C shares in an omnibus account for the sole benefit of their customers.

As of May 31, 2008, Merrill Lynch Pierce, Fenner & Smith, Inc. held 32.69% of AMIDEX^TM Cancer Innovations & Healthcare Fund Class A shares in an omnibus account for the sole benefit of their customers.

9. LITIGATION

On May 31, 2006, a lawsuit was filed against II, the Adviser, and certain officers/shareholders of II. The complaint was filed by previous shareholders of TransNations Investments, LLC, the Funds’ previous Investment Adviser. The complaint does not involve the AMIDEX^TM Funds, Inc. or any of the current independent directors of the Funds. II believes that the pending lawsuit or settlement will not likely materially affect their ability to perform under their Advisory or Administrative Services Agreements with the Funds.

10. COMMITMENTS AND CONTINGENCIES

In the normal course of business, the Trust may enter into contracts that may contain a variety of representations and warranties and provide general indemnifications. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be estimated; however, management considers the risk of loss from such claims to be remote.

AMIDEX^TM Funds, Inc. ANNUAL REPORT

NOTES TO THE FINANCIAL STATEMENTS

May 31, 2008

Additional Information (Unaudited)

The Funds file their complete schedules of portfolio holdings with the Securities and Exchange Commission (the “Commission”) for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the Commission’s website at http://www.sec.gov. The Funds’ Forms N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Commission’s Public Reference Room may be obtained by calling 1-800-SEC-0330.

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available without charge, upon request, by calling888-876-3566; and on the Commission’s website at http://www.sec.gov.

Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, 2007 is available without charge, upon request, by calling 888-876-3566; and on the Commission’s website at http://www.sec.gov.

Shareholder Tax Information - The Funds are required to advise you within 60 days of the Fund’s fiscal year end regarding the federal tax status of distributions received by shareholders during the fiscal year. During the fiscal year ended May 31, 2008, the following dividends and distributions per share were paid by the Funds:

	Ordinary Income		Long-Term Capital Gains
AMIDEX35TM Israel Mutual Fund
No Load Class	$	0.007686		-
Class A	$	0.020891		-
AMIDEXTM Cancer Innovations & Healthcare Fund		-	$	2.99606

Please note that, for the taxable year ended May 31, 2008, the respective percentages of ordinary income distributions paid by the AMIDEX35^TM Israel Mutual Fund which consist of qualified dividend income for individuals, are as follows:

	Distribution Period	Percentage
AMIDEX35TM Israel Mutual Fund	December, 2007	100.00%

The AMIDEX^TM Cancer Innovations & Healthcare Fund designated $167,180 (100%) of total distributions paid during the fiscal year ended May 31, 2008 as net capital gain distributions eligible for long-term capital gain rates for individual shareholders.

The tax information above is reported from the Fund’s fiscal year and not calendar year, therefore, shareholders should refer to their Form 1099-DIV or other tax information which will be mailed in 2009 to determine the calendar year amounts to be included on their 2008 tax returns. Shareholders should consult their own tax advisors.

To The Shareholders and

Board of Directors

AMIDEX^TM Funds, Inc.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of AMIDEX^TM Funds, Inc. (the “Funds”), comprising AMIDEX35^TM Israel Mutual Fund and AMIDEX^TM Cancer Innovations & Healthcare Fund as of May 31, 2008, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of Fund management. Our responsibility is to express an opinion on these financial statements and financial highlights 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 and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of May 31, 2008, by correspondence with the Funds’ custodian. An audit also includes 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 and financial highlights referred to above present fairly, in all material respects, the financial positions of each of the Funds constituting the AMIDEX^TM Funds, Inc. as of May 31, 2008, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended and their financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

Cohen Fund Audit Services, Ltd.

Westlake, Ohio

July 24, 2008

DIRECTORS AND OFFICERS INFORMATION (Unaudited)

Management Information. Following are the Directors and Officers of the Company, their age and address, their present position with the Company or the Portfolios, and their principal occupation during the past five years. In case a vacancy or an anticipated vacancy on the Board of Directors shall for any reason exist, the vacancy shall be filled by the affirmative vote of a majority of the remaining Directors, subject to certain restrictions under the 1940 Act. Those Directors and Officers, who are “interested persons” (as defined in the 1940 Act) by virtue of their affiliation with either the Company or the Adviser, are indicated in the table. The Company’s Statement of Additional Information includes additional information about the Directors and Officers and is available, without charge, upon request by calling 888-876-3566.

Name, Address and Age1	Position(s) Held with The Company	Term of Office and Length of Time Served2	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Director3	Other Directorships Held by Director4
INDEPENDENT DIRECTORS
Eli Gabay, Esq. Age 49	Director	October 2003	Attorney, Solomon Sherman & Gabay, Philadelphia, PA	2	None
Erica Levi Age 30	Director	October 2003	Editor, Philadelphia Magazine; Editor Marion Publications	2	None
OFFICERS
Clifford A. Goldstein5 Age 49	President and Director	1999	President, Index Investments, LLC, November 2002 to present; President, TransNations Investments, LLC, Executive Consultant and Attorney with The Chartwell Law Offices since 2002.	N/A	N/A
Larry E. Beaver, Jr.6 630-A Fitzwatertown Road Willow Grove, PA 19090 Age 39	Chief Accounting Officer	May 2003	Director of Fund Administration, Matrix Capital Group, February 2005 to present; Fund Accounting Manager, InCap Service Co., May 2003 to January 2005.	N/A	N/A

¹ Each Director may be contacted by writing to the Director, c/o AMIDEX^TM Funds, Inc., Chartwell Suites, 2621 Van Buren Avenue, Norristown, PA 19403.

² Each Director holds office until he resigns, is removed or dies. The President and Chief Accounting Officer shall hold office for a one year term and until their respective successors are chosen and qualified, or until such officer dies or resigns.

³ The Fund Complex consists of the Company. The Company has two portfolios, the AMIDEX35 ^TM Israel Mutual Fund and the AMIDEX^TM Cancer Innovations & Healthcare Fund.

⁴ Directorships of companies required to report to the Securities and Exchange Commission under the Securities Exchange Act of 1934 (i.e., “public companies”) or other investment companies registered under the 1940 Act.

⁵ Indicates an “interested person” as defined in the Investment Company Act of 1940.

⁶ The Company entered into an agreement related to its Distribution Plan with Matrix Capital Group. Larry E. Beaver, Jr. is Director of Fund Administration at Matrix.

DIRECTORS AND OFFICERS INFORMATION (Unaudited)(continued)

Remuneration Paid to Directors and Officers—Officers of the Company and Directors who are “interested persons” of the Company or the Adviser will receive no salary or fees from the Company. Each Director who is not an “interested person” receives a fee of $500 per meeting attended. The Company reimburses each Director and officer for his or her travel and other expenses relating to attendance at such meetings.

Name of Director1	Aggregate Compensation From the Portfolios2	Pension or Retirement Benefits Accrued As Part of Portfolio Expenses	Estimated Annual Benefits Upon Retirement	Total Compensation From the Portfolios and the Company Paid to Directors2
Independent Directors
Eli Gabay, Esq.	$2,500	None	None	$2,500
Erica Levi	$2,500	None	None	$2,500
Interested Officers
Clifford A. Goldstein	None	Not Applicable	Not Applicable	None
Larry E. Beaver, Jr.	None	Not Applicable	Not Applicable	None

¹ Each of the Directors and Officers serves as a Director or Officer to the two portfolios of the Company.

² Figures are for the fiscal year ended May 31, 2008.

ITEM 2. CODE OF ETHICS.

a. The registrant has, as of the end of the period covered by this report, adopted a Code of Ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.

b. During the period covered by this report, there were no amendments to any provision of the Code of Ethics

c. During the period covered by this report, there were no waivers or implicit waivers of a provision of the Code of Ethics.

d. The registrant's Code of Ethics is filed herewith.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

The registrant's Board of Directors has determined that it does not have an audit committee financial expert serving on its audit committee. At this time, the registrant believes that the experience provided by each member of the audit committee together offer the registrant adequate oversight for the registrant's level of financial complexity.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES

a. Audit Fees

The aggregate fees billed for each of the last two fiscal years for professional services rendered by a principal accountant for the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory filings or engagements for those fiscal years were $31,816 for 2008 and $34,010 for 2007.

b. Audit related fees

There were no fees billed in each of the last two fiscal years for assurances and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under paragraph (a) of this item.

c. Tax Fees

Set forth below are the aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning were $4,400 for 2008 and $3,600 for 2007.

The fees were for preparation of IRS Form 1120-RIC and Form 8613 (exercise tax). No tax services were provided to the registrant's investment adviser.

d. All other fees

During the last two fiscal year end for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) billings for 2008 were $1,400 for the auditor's consent and $808 for the auditor's reviews of the semi annual financial statements and for 2007 were $1,400 for auditors consent and $975 for the auditor's review of the semi annual financial statement.

e (1) Audit Committee's Pre-Approval Policies

Registrant has adopted an audit committee charter to provide the Audit Committee with guidance. The audit committee consists of two independent members of the board of directors. The charter calls for receipt and review of the principal accountant's written statement concerning independence,; dialogue concerning relationships or services to others (which involved all service providers including registrant's custodian, investment adviser, transfer agent, fund accountants and administrator); and, prior to the board of directors selecting registrant's auditor, review and assess services provided, fees charged and to be charged, and other relevant data. The audit committee charter contains, among other things, express provisions for selecting registrant's auditor and for pre-approving all permitted non-audit services. With respect to auditor selection, the charter expressly states that the audit committee is to consider.

(a) the audit scope and plan to assure completeness and effectiveness of resources;

(b) the auditor's formal written statement delineating relationship with registrant;

(c) the auditor's relationship or service to others, which may impact objectivity or independence;

(d) rotations of audit partners; and (e) fees or other compensation paid to the auditor e(2) Percentage of services approved by the audit committee

	Registrant	Adviser
Audit related Fees	100%	not applicable
Tax fees	100%	not applicable
All other fees	100%	not applicable

f. All work is performed by Cohen Fund Audit Services, LTD.

g. There were no non-audit fees billed by the registrant's accountant for services rendered to the registrant and rendered to the registrant's investment adviser and any entity controlling, controlled by or under common control with the adviser, that provides ongoing services to the registrant during the last two fiscal years.

h. There were no non-audit services rendered to the registrant's investment adviser.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6. SCHEDULE OF INVESTMENT

Included in annual report to shareholders filed under item 1 of this form.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable Fund is an open-end management investment company

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not applicable Fund is an open-end management investment company

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable Fund is an open-end management investment company.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None

ITEM 11. CONTROLS AND PROCEDURES.

a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act, are effective, as of a date within 90 days of the filing date of this report, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 12. EXHIBITS

(1) Code of Ethics for Principal Executive Officers of the AMIDEX(TM) Funds is filed herewith.

(2) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are filed herewith.

(3) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) AMIDEX^TM Funds, Inc.

By Clifford A. Goldstein, President	/s/ Clifford A. Goldstein
Date: August 5, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the Following persons on behalf of the registrant and in the capacities and on the dates indicated.

By Clifford A. Goldstein, President	/s/ Clifford A. Goldstein
Date: August 5, 2008

By Larry E. Beaver, Jr., Treasurer /s/ Larry E. Beaver, Jr.

Date: August 5, 2008