10QSB 1 mtnt10qsb.txt QUARTERLY REPORT ON FORM 10-QSB FOR PERIOD ENDED 12-31-05 
================================================================================

                    U. S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(MARK ONE)
 [ ]     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934
         For the quarterly period ended December 31, 2005

 [ ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934
         For the transition period from __________ to __________

                         Commission File Number 000-28585

                               Mobile Nation, Inc.
                          (formerly Wolfstone Corporation)
                 (Name of small business issuer in its charter)

            Nevada                                               68-0427395
-------------------------------                               ----------------
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)

                              2638 Pershing Circle
                              Henderson, NV  89074
                    (Address of principal executive offices)

         Issuer's telephone number (including area code): (702) 914-9824

         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 registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days. Yes [X]  No [ ]

         The number of shares outstanding of the registrant's only class of
common stock, $0.001 par value per share, was 573,500 shares as of February
2, 2005.

================================================================================

1



                         PART I - FINANCIAL INFORMATION

ITEM 1.   FINANCIAL STATEMENTS

Item 1.   Financial Statements............................................F-1
          Balance Sheet (unaudited).......................................F-1
          Statements of Operations (unaudited)............................F-2
          Statements of Cash Flows (unaudited)............................F-3
          Notes to Financial Statements...................................F-4-7

Item 2.  Management's Discussion and Analysis of Plan
           of Operation...................................................3-6

Item 3. Controls and Procedures.............................................6

PART II. OTHER INFORMATION

Item 1.   Legal Proceedings.................................................7

Item 2.   Changes in Securities and Use of Proceeds.........................7

Item 3.   Defaults upon Senior Securities...................................7

Item 4.   Submission of Matters to a Vote
           of Security Holders..............................................7

Item 5.   Other Information.................................................7

Item 6.   Exhibits and Reports on Form 8-K..................................8

Signatures..................................................................9

2


PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS AND EXHIBITS

                                  MOBILE NATION, INC
                             (A Development Stage Company)
                                    BALANCE SHEETS
                                 December 31, 2005


                                        (unaudited)

                   Assets
                   ------
Current assets:
       Cash                              $     1,453
                                         -----------
Total current assets                           1,453
                                         -----------
Total assets                             $     1,453
                                         ===========

       Liabilities and Shareholders' Deficit
       -------------------------------------
Current liabilities:

      Accounts payable, trade           $        708
      Accrued interest, related parties       27,508
      Notes payable, directors                57,500
      Notes payable, AFG                      17,500
      Convertible note payable, AFG           75,000
                                         -----------
Total current liabilities                    178,216
                                        ------------
Total liabilities                            178,216
                                        ------------
Commitments and contingencies                    -

Shareholders' Deficit
 Preferred stock, 10,000 shares
  authorized; no shares
  issued or outstanding, no rights
  or privileges designated;                      -

Common stock, par value $.001 per share,
  20,000,000 shares authorized;
  573,500 issued and outstanding,              574

  Additional paid-in capital               221,960
  Deficit accumulated during the
   development stage                      (399,297)
                                        -------------
Total shareholders' deficit               (176,763)
                                        -------------
Total liabilities and shareholders'
   deficit                              $    1,453
                                        =============

The accompanying notes are an integral part of the financial statements

 F1



                                          MOBILE NATION, INC
                                    (A Development Stage Company)

                                      STATEMENTS OF OPERATIONS
                                      -------------------------
                                      For the                    For the                     From
                                 Three months ended         Nine months ended            March 15, 1990
                                    December 31,             December 31,               (Inception) to
                                   2005         2004       2005          2004          December 31, 2005
                                ----------  -----------  -----------   ---------       ------------------
                                (unaudited) (unaudited)  (unaudited)  (unaudited)          (unaudited)
                                                                               
 Revenues                        $10,000    $    -         10,000                         $ 10,000

Operating expenses:

      General and administrative   2,951       2,116       20,732        13,378             381,249
      Interest expense             3,296       2,875        9,566         8,218              28,048
                               ------------ ------------  ------------ ------------       --------------
Total operating expenses           6,247       4,991       30,298        21,596             409,297
                              ------------- ------------  ------------ ------------       --------------
Loss before income taxes           3,753      (4,991)     (20,298)      (21,596)           (399,297)
                              ------------- ------------  ------------ ------------       --------------
Provisions for income taxes         -             -           -             -                  -
                              ------------- ------------  ------------ ------------       --------------
Net loss                      $    3,753      (4,991)     $(20,298)     (21,596)        $  (399,297)
                              ============= ============  ============ ============      ===============

Net loss per share:

      Basic                   $  0.01         $(0.01)     $ (0.04)        $ (0.04)        $   (4.30)
      Diluted                 $  0.01         $(0.01)     $ (0.04)        $ (0.04)        $   (4.30)

Weighted Shares Outstanding

      Basic                   573,500          573,500    573,500          573,500            92,784
      Diluted                 573,500          573,500    573,500          573,500            92,784


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


F-2




                                           MOBILE NATION, INC
                                      (A Development Stage Company)
                                         STATEMENTS OF CASH FLOWS
                                         -----------------------
                                                       For the                            From
                                                   Nine months ended                  March 15, 1990
                                                     December 31,                    (Inception) to
                                                  2005             2004             December 31, 2005
                                                ----------     -----------          ------------------
                                               (unaudited)     (unaudited)             (unaudited)
                                                                                  
Cash flows from operating activities:

Net loss                                       $  (20,298)     $  (21,596)          $    (399,297)
Adjustment to reconcile net loss to net
     cash used in operating activities:
     (Increase) decrease in prepaid expenses        2,024             -                      -
      Increase (decrease) in accounts payable         708             784                     708
      Increase (decrease) in accrued interest       9,566           8,218                  27,508
      Fair value of salaries donated as capital       -                -                  151,500
      Common stock issued for services                -                -                   25,053
                                               ------------    ------------          -------------
     Net cash used in operating activities         (8,000)        (12,594)               (194,528)
                                               ------------    ------------          --------------
     Cash flows from investing activities :
      Advances form stockholders                      -                -                    22,725
                                               ------------    ------------          --------------
     Net cash provided by investing activities        -                -                    22,725
                                               ------------    ------------          --------------
     Cash flows from financing activities:
      Contributed capital                             -               600                   23,256
      Proceeds from note payable, directors         2,500              -                    57,500
      Proceeds from note payable, AFG               7,500              -                    25,000
      Repayments of notes payable, AFG             (7,500)             -                    (7,500)
      Repayments of convertible note payable          -            10,000                   77,700
Repayments of note payable                            -            (2,700)                  (2,700)
                                               ------------    ------------          --------------
     Net cash provided by financing activities      2,500           7,900                  173,256
                                               ------------    ------------          --------------
Net increase (decrease) in cash                    (5,500)         (4,694)                  1,453

Cash at beginning of period                          6,953          6,754                       -
                                               ------------    ------------          --------------
Cash at end of period                            $   1,453    $     2,060           $        1,453
                                               ============    ============          ===============

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


F-3


MOBILE NATION, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

1.  ORGANIZATION AND BUSINESS

Mobile Nation, Inc. (the Company) was incorporated in the state of Delaware on
March 15, 1990 under the name Integrated Direct, Inc. (IDI).  IDI operated a
direct mail business until it filed for protection under Chapter 11 of the
bankruptcy code on September 22, 1992.  On June 8, 1994, the case was converted
to Chapter 7 and on December 17, 1998, IDI was discharged from its debts and it
emerged from bankruptcy (see below).  On February 23, 1999, IDI reincorporated
in the state of Nevada and issued 40 (295,408 pre split) common stock shares in
exchange for all of the 5,905,735 common stock shares of IDI, effecting a 20 to
1 reverse stock split and changing its domicile from Delaware to Nevada.  On
that date, IDI changed its name to Wolfstone Corporation (Wolfstone).  There
were no assets or liabilities of IDI prior to this transaction. Between April
1999 and August 2003, Wolfstone attempted three merger/acquisitions but was not
able to raise sufficient capital to support the transactions.  In June 2003, an
attempted merger with Mobile Nation, Inc. was established by issuing 4,000,000
shares of common stock.  Mobile Nation, Inc.'s management assumed substantial
control of Wolfstone and the Company's name was changed to Mobile Nation, Inc.
In October 2003, the parties in the above transaction returned 3,520,000
securities issued with no claims or rights to the assets optioned in the
original plan, effectively rescinding the transaction. The Company is a
development stage and is currently assessing various business options and
strategies.

2.  BASIS OF PRESENTATION

The accompanying unaudited financial statements and related footnotes have been
prepared in accordance with accounting principles generally accepted in the
United States of America for interim financial statements and pursuant to the
rules and regulations of the Securities and Exchange Commission for Form 10-
QSB. Certain information and footnote disclosures normally included in
financial statements prepared in accordance with the above accounting
principles have been condensed or omitted pursuant to such rules and
regulations, although the Company believes that the disclosures are adequate to
make the information presented not misleading. Accordingly, they do not include
all of the information and footnotes required by accounting principles
generally accepted in the United States of America for complete financial
statements.

In the opinion of management, all adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included. For
further information read the financial statements and footnotes thereto
included in the Company's Annual Report on Form 10-KSB for the year ended March
31, 2005. The results of operations for the nine months ended December 31, 2005
are not necessarily indicative of the operating results that may be expected
for the year ending March 31, 2006.

F-4

MOBILE NATION, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with generally
accepted accounting principles applicable to a going concern that contemplates
the realization of assets and the satisfaction of liabilities and commitments
in the normal course of business.  As of December 2005, the Company has not
recognized any substantial revenue to date (Note 5) and has accumulated
operating losses of approximately $399,000 since its inception. The Company's
ability to continue as a going concern is contingent upon the successful
completion of additional financing arrangements and its ability to achieve and
maintain profitable operations. Management plans to raise equity capital to
finance the operating and capital requirements of the Company.  Amounts raised
will be used for further development of the Company's products, to provide
financing for marketing and promotion, to secure additional property and
equipment, and for other working capital purposes.  While the Company is
expending its best efforts to achieve the above plans, there is no assurance
that any such activity will generate funds that will be available for
operations.

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.

3.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Bankruptcy proceedings

As mentioned above, the Company emerged from bankruptcy on December 17, 1998,
when it was formally discharged from its debts.  However, by September 1995,
substantially all of its assets had been converted to approximately $95,000 of
cash.  At that time, the Company recognized income from discharge of
indebtedness of approximately $994,000 and the remaining cash was used to pay
various creditors.  Afterwards through this date, the Company still existed
with no significant assets or liabilities and has not conducted any business
operations.

Because there was no change in the stockholder ownership interests as a result
of the bankruptcy or when the Company emerged from bankruptcy, it did not
qualify for fresh start accounting pursuant to Statement of Position No. 90-7.

F-5

MOBILE NATION, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

Development stage activities

Since the Company's bankruptcy filing in September 1992, the Company has not
conducted any business operations.  All of the Company's operating results and
cash flows reported in the accompanying financial statements from its inception
are considered to be those related to development stage activities and
represent the 'cumulative from inception' amounts from its development stage
activities required to be reported pursuant to Statements of Financial
Accounting Standards (SFAS) No. 7, Development Stage Enterprises.

Use of Estimates

In preparing financial statements in conformity with accounting principles
generally accepted in the United States of America, management is required to
make estimates and assumptions that effect the reported amounts of assets and
liabilities and the disclosure of contingent assets and liabilities at the date
of the financial statements and revenues and expenses during the reporting
period.  Actual results could differ from those estimates.

Recent accounting pronouncements

Management does not believe that any recently issued, but not yet effective,
accounting pronouncements if currently adopted would have a material effect on
the accompanying financial statements.

4.  RELATED PARTY TRANSACTIONS

Advances from stockholder

During the period March 15, 1990 (inception) through December 31, 2005, the
Company received $22,725 of non-interest bearing advances from its
stockholders/officers.  The advances were due upon demand as funds were
available and were unsecured. On March 31, 2003, all of these advances were
contributed to the Company as additional paid-in capital.

Notes payable, directors

During the year ended March 31, 2004, the Company received $50,000 from a
director.  This note bears interest at 6% per annum, is unsecured and due on or
before December 31, 2005.  As of December 31, 2005, accrued interest payable
totaled $5,625.

During the year ended March 31, 2005 and the nine months ended December 31,
2005, the Company received $5,000 and $2,500, respectively, from the Company's
President and Chairman. These notes bears interest at 8% and 10% per annum,
respectively, are unsecured and due on or before December 31, 2005. At December
31, 2005 accrued interest payable for both notes totaled $452.

Note payable, AFG

During the year ended March 31, 2005 and the nine months ended December 31,
2005, the Company received $17,500 and $7,500, respectively, from Affinity
Financial Group, Inc. (AFG). During the nine month ending December 31, 2005,
$7,500 of this amount was repaid.  AFG is wholly owned by Rex A. Morden, a
stockholder, director and officer of the Company.  These notes bears interest
at 8% and 10% per annum, respectively, are unsecured and due on or before
December 31, 2005.  At December 31, 2005 accrued interest payable for both
notes totaled $1,143.

F-6

Convertible note payable, AFG

During the year ended During  the  year ended  March  31, 2004,  the  Company
received  $77,700  from AFG in  exchange  for  a  convertible note payable.
During the year ended March 31, 2005, $2,700 of this amount was repaid.
Affinity Financial Group, Inc. is wholly owned by Rex A.  Morden, a director
and officer of   the Company.    The note   is unsecured, due upon demand  as
funds are  available  and  is convertible,  at  the  option of  the holder,
into common  shares at  80%  of  the then current market price  at any time
prior  to  the  repayment of  the principal  and  any  accumulated accrued
interest.  At December 31, 2005, accrued interest payable totaled $20,288.

5. THIRD PARTY TRANSACTIONS

On October 7, 2005, the company entered into a letter of intent ("LOI") with a
potential merger candidate. In accordance with the terms of the LOI the company
received a non-refundable deposit in the amount of $10,000. The proposed
transaction was never commutated. The agreement was terminated after a 30 day
time period as outlined in the terms of the agreement. Because the company
incurred no expenses related to the transaction, the amount was recorded as
revenue.

F-7

Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS

Company History

Our original business was to operate a direct mail business. Our original
company name was Integrated Direct, Inc. (Integrated Direct), and was
incorporated in the state of Delaware on March 15, 1990.  It filed for
protection under Chapter 11 of the bankruptcy code on September 22, 1992.  On
June 8, 1994, the case was converted to Chapter 7 and on December 17, 1998,
Integrated Direct was discharged from its debts as it emerged from bankruptcy.
On February 23, 1999, Integrated Direct reincorporated in the state of Nevada
and simultaneously changed its name to Wolfstone Corporation (Wolfstone).
There were no assets or liabilities prior to this transaction.

Between April 1999 and August 2003, Wolfstone attempted three
merger/acquisition transactions, however,  Wolfstone was not able to raise
sufficient capital to support any of the planned mergers/acquisition. In each
instance, the parties agreed to rescind any transactions with all securities
issued by the parties being returned.

The last aborted merger/acquisition occurred in June 2003 between Wolfstone
and Mobile Nation, Inc., (Mobile Nation) was issued 4,000,000 shares of common
stock.  The new business plan for the Company involved the vision of providing
portable wireless broadband services, utilizing  "advanced wireless"
technologies.  The management of Mobile Nation assumed substantial control of
Wolfstone and the company's name was changed to Mobile Nation, Inc.

On July 3, 2003, prior to the Board consummating the merger transaction with
Mobile Nation, Inc, the technology company, the Registrant affected a 50 to 1
reverse split of its common stock.  The par value and authorized share count
of the common stock was not affected by the reverse split.

In September 2003, Mobile Nation was unable to secure key assets essential to
its original plan of deployment and operations.  As a result, on October 13,
2003, the parties to the above purchase transactions returned all the
securities issued with no claims or rights to the assets optioned in the
original plan, effectively rescinding the transaction.  Members of the
technology group continue to look for the resources from the limited holders
of spectrum required to launch the operation.  Because there can no assurance
that the required spectrum will never be available, key technology principals
elected to pursue other projects.

At this same time in October, 2003, five of the then directors tendered their
resignations  A new director was added to the remaining two-man Board of
Directors to pursue alternative business opportunities, a 10-for-1 stock split
was affected and members of the Board of Directors retained the 480,000 pre-
stock split shares (4,800,000 post split shares) of restricted common stock
for management services rendered and to be rendered over the balance of the
calendar year.

In November, the new director was granted 200,000 shares post stock split for
services to be rendered for the balance of the calendar year.

On October 27, 2003 a note payable was issued to a company director, C.W.
Gilluly for $50,000 loaned to the company. The note is at an interest rate of
six percent (6%) per annum and is due in full with accumulated interest on
December 31, 2005.

In connection with the rescission, a note payable issued to Affinity Financial
Group, Inc.for $75,000 was assumed by the Company for proceeds expended in
the reorganization effort of the Company by the former Mobile Nation.  The
note is at an interest rate of ten percent (10%) and is due in full with all
accumulated interest on December 31, 2005. The Note is convertible, at the
holders option, into the Company's common stock at a conversion rate of 80% of
the market price of the stock at the time of the conversion.

3

Company Overview

We were incorporated in the State of Delaware on March 15, 1990.  Because there
was no change in the stockholder ownership interests as a result of the
previously filed bankruptcy proceeding, when we emerged from bankruptcy it did
not qualify for fresh start accounting.   Accordingly, we have a limited
operating history upon which an evaluation of our current business and its
prospects, can be based --- each of which must be considered in light of the
risks, expenses and problems frequently encountered by all companies in the
early stages of development, and particularly by such companies entering new
and rapidly developing markets.  We are considering various business plans and
are currently developing other business strategies.

There can be no assurance that we will have, or create, the ability to manage
our operations, including the ability to meet the amount and timing of capital
expenditures and other costs relating to the expansion of our operations,
compete with the introduction and development of different or more extensive
approaches to the market by direct and indirect our competitors, including
those with greater financial, technical and marketing resources, or overcome
our inability to attract, retain and motivate qualified personnel and address
general economic conditions.

We have not achieved profitability to date, and anticipate that we will
continue to incur losses for the foreseeable future.  As of December 31, 2005 we
had an accumulated deficit of $392,297.  There can be no assurances that we can
achieve or sustain profitability or that our operating losses will not increase
in the future.

We are currently assessing various options and strategies. The analysis of new
businesses opportunities and evaluating new business strategies will be
undertaken by the board and senior management.  In analyzing prospective
businesses opportunities, management will consider, to the extent applicable,
the available technical, financial and managerial resources of any given
business venture.  Management will also consider the nature of present and
expected competition; potential advances in research and development or
exploration; the potential for growth and expansion; the likelihood of
sustaining a profit within given time frames; the perceived public recognition
or acceptance of products, services, trade or service marks; name
identification; and other relevant factors.  We anticipate that the results of
operations of a specific business venture may not necessarily be indicative of
the potential for future earnings, which may be impacted by a change in
marketing strategies, business expansion, modifying product emphasis, changing
or substantially augmenting management, and other factors.

We will analyze all relevant factors and make a determination based on a
composite of available information, without reliance on any single factor.
The period within which we will decide to participate in a given business
venture cannot be predicted and will depend on certain factors, including the
time involved in identifying businesses, the time required us to complete our
analysis of such businesses, the time required to prepare appropriate
documentation and other circumstances.

Going Concern - We have experienced operating losses since our inception on
March 15, 1990 through the period ended December 31, 2005.  The financial
statements have been prepared assuming we will continue to operate as a going
concern that contemplates the realization of assets and the settlement of
liabilities in the normal course of business.  No adjustment has been made to
the recorded amount of assets or the recorded amount or classification of
liabilities which would be required if we were unable to continue our
operations.  (See Financial Footnote 2)  We believe we can provide enough
funds to operate for the next twelve (12) months without the need to raise
additional capital to meet its obligations in the normal course of business.

4

Results of Operations

During the nine month period ended December 31, 2005, we did not generate
any substantial revenues (Note 5 to the financial statements).

In our most recent nine months operating period ended December 31, 2005, we did
not generate any substantial revenues. During the nine months ended December
31, 2005 we had no business activity and had a net loss of $20,298 as compared
to net loss $21,596 for the same period ending December 31, 2004.  All of these
expenses represented general and administrative expenses, particularly
accounting and audit fees to maintain our reporting status, and accrued
interest on note payable of $9,566 and $8,218 for the quarters ended December
31, 2005 and 2004, respectively.

Plan of Operation

We have scaled operations down to a minimum. We are now searching for a merger
candidate and/or significant acquisition.

In our opinion, we do not have available funds to satisfy our working capital
requirements. We need to raise additional capital immediately to conduct our
operations. Such additional capital may be raised through public or private
financing, as well as borrowings and other sources. We cannot guaranty that
additional funding will be available on favorable terms, if at all. If
adequate funds are not available, we may have to contemplate a plan of
reorganization and/or liquidation in the event that we do not acquire
financing.

We are not currently conducting any research and development activities, other
than the search for a merger candidate. We do not anticipate conducting any
other such activities in the next three months.

We do not anticipate that we will hire any employees in the next three to six
months, unless we acquire financing. We believe our future success depends in
large part upon the success in finding a qualified merger candidate.

Liquidity and Capital Resources

We show little cash available to operate and will rely on the current
officers and directors to provide monies as needed to maintain our operations
as we seek and evaluated business opportunities.

We have had limited other financial resources available, which has had an
adverse impact on our liquidity, activities and operations.  These limitations
have adversely affected our ability to obtain certain projects and pursue
additional business.  Without realization of additional capital, it would be
unlikely for us to continue as a going concern.  In order for us to remain a
going concern we will need to find additional capital.  Additional working
capital may be sought through additional debt or equity private placements,
additional notes payable to banks or related parties (officers, directors or
stockholders), or from other available funding sources at market rates of
interest, or a combination of these.  The ability to raise necessary financing
will depend on many factors, including the nature and prospects of any
business to be acquired and the economic and market conditions prevailing at
the time financing is sought.  No assurances can be given that any necessary
financing can be obtained on terms favorable or at all.

5

Effect of Inflation

Inflation did not have any significant effect on the operations of the Company
during the quarter ended December 31, 2005.  Further, inflation is not expected
to have any significant effect on future operations of the Company.

Impact of New Accounting Pronouncements
Recent Accounting Pronouncements

During 2005, there were several new accounting pronouncements issued by the
Financial Accounting Standards Board (FSAB) the most recent of which was
Statements on Financial Accounting Standards (SFAS) No. 153, Exchanges of
Nonmonetary Assets.  Each of these pronouncements, as applicable, has been or
will be adopted by the Company.  Management does not believe the adoption of
any of these accounting pronouncements has had or will have a material impact
on the Company's financial position or operating results.

In December 2004, the FSAB issued SFAS No. 123R, Share-Based Payments, revising
to SFAS No. 123, Accounting for Stock-Based Compensation, and superseding
Accounting Principles Board (APB) Opinion No. 25, Accounting for Stock Issued
to Employees.  SFAS No. 123R establishes standards for the accounting of
transactions in which an entity exchanges its equity instruments for goods or
services, including obtaining employee services in share-based payment
transactions.  SFAS No. 123R applies to all awards granted after the required
effective date and to awards modified, purchased or canceled after that date.
Adoption is effective as of the beginning of the first interim or annual
reporting period that begins after June 15, 2005.  Management does not believe
the adoption of this accounting pronouncement will have a material impact on
the Company's financial position or operating results.

Item 3.  Controls and Procedures

Our Chief Executive Officer and Chief Financial Officer (our principal
executive officer and principal financial officer, respectively) have
concluded, based on their evaluation as of December 31, 2005, that the design
and operation of our "disclosure controls and procedures" (as defined in Rule
13a-15(e) under the Securities Exchange Act of 1934, as amended, or the
Exchange Act) are effective to ensure that information required to be disclosed
by us in the reports filed or submitted by us under the Exchange Act is
accumulated, recorded, processed, summarized and reported to our management,
including our Chief Executive Officer and Chief Financial Officer, as
appropriate to allow timely decisions regarding whether or not disclosure is
required.

During the quarter ended December 31, 2005, there were no changes in our
"internal controls over financial reporting" (as defined in Rule 13a- 15(f)
under the Exchange Act) that have materially affected, or are reasonably
likely to materially affect, our internal controls over financial reporting.

6

                       PART II OTHER INFORMATION

ITEM 1.  Legal Proceedings

The Company is not a party to any legal proceedings.

ITEM 2.  Changes in Securities and Use of Proceeds

None.

ITEM 3.  Defaults upon Senior Securities

None.

ITEM 4.  Submission of Matters to a Vote of Security Holders

None.

ITEM 5.  Other Information

None.

7

ITEM 6.  Exhibits and Reports on Form 8-K

a) Exhibits

  Exhibit
  Number        Title of Document
  ----------------------------------------------------------------
    31.1    Certifications of the Chief Executive Officer and Chief Financial
            Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

    32.1    Certifications of Chief Executive Officer and Chief Financial
            Officer pursuant to 18 U.S.C.  Section 1350 as adopted pursuant to
            Section 906 of the Sarbanes-Oxley Act of 2002

b)  Reports on Form 8-K

    None.

8



                               SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

Dated: February 14, 2005                   MOBILE NATION, INC.
                                           BY:  /S/ REX A. MORDEN
                                           ------------------------
                                           Rex A. Morden
                                           President, Chief Executive Officer,
                                           and Director (principal and
                                           executive officer)

Dated: February 14, 2005                   BY:  \S\  MICHAEL MCGHEE
                                           --------------------------
                                           Michael McGhee
                                           Executive President, Finance
                                           (principal financial and accounting
                                           officer)

9


EXHIBITS FILED WITH THIS REPORT ON FORM 10-QSB

      Exhibit No.        Description
      -------------      ------------------------------------------------------
           31.1          Certifications Required by Rule 13a-14(a) of the
                         Securities Exchange Act of 1934, as amended, as
                         Adopted Pursuant to Section 302 of the Sarbanes-Oxley
                         Act of 2002

           31.2          Certification of Chief Executive Officer and Chief
                         Financial Officer Pursuant to 18 U.S.C. Section 1350,
                         as Adopted Pursuant to Section 906 of the Sarbanes-
                         Oxley Act of 2002


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