-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RN75GPinodAW7jX+kmqIAwmBDfzivsbX6sW0en7RwgTnEecmb8FrlVkbBxIQ/sut
 uo+3IQZiagg7ciQgplPNZg==

<SEC-DOCUMENT>0001144204-06-028196.txt : 20060712
<SEC-HEADER>0001144204-06-028196.hdr.sgml : 20060712
<ACCEPTANCE-DATETIME>20060712145647
ACCESSION NUMBER:		0001144204-06-028196
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060623
FILED AS OF DATE:		20060712
DATE AS OF CHANGE:		20060712

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LaFlamme James Bryant
		CENTRAL INDEX KEY:			0001368258

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21394
		FILM NUMBER:		06958291

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		703-323-0705

	MAIL ADDRESS:	
		STREET 1:		7920 WOODLAND HILLS LANE
		CITY:			FAIRFAX STATION
		STATE:			VA
		ZIP:			22039

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GELSTAT CORP
		CENTRAL INDEX KEY:			0000890725
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				411713474
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		SOUTHPOINT OFFICE CENTER
		STREET 2:		1650 WEST 82ND STREET, SUITE 1200
		CITY:			BLOOMINGTON
		STATE:			MN
		ZIP:			55431
		BUSINESS PHONE:		952-881-4105

	MAIL ADDRESS:	
		STREET 1:		SOUTHPOINT OFFICE CENTER
		STREET 2:		1650 WEST 82ND STREET, SUITE 1200
		CITY:			BLOOMINGTON
		STATE:			MN
		ZIP:			55431

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEVELOPED TECHNOLOGY RESOURCE INC
		DATE OF NAME CHANGE:	19930309
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>v047406_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-06-23</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000890725</issuerCik>
        <issuerName>GELSTAT CORP</issuerName>
        <issuerTradingSymbol>GSAC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001368258</rptOwnerCik>
            <rptOwnerName>LaFlamme James Bryant</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GELSTAT CORPORATION,</rptOwnerStreet1>
            <rptOwnerStreet2>1650 W. 82ND STREET, SUITE 1200</rptOwnerStreet2>
            <rptOwnerCity>BLOOMINGTON</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55431</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>180000</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Options (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.11</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-10-07</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2011-07-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrants (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.20</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-07-12</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-07-11</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>70000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Shares held in IRA</footnote>
        <footnote id="F2">Options to purchase common stock granted under terms of Issuer's 2003 Incentive Plan as adopted (the &quot;Plan&quot;), vesting in four
 equal quarterly increments, with the first options vesting on 10/7/06 and the last portion vesting on 7/7/07.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ James B. La Flamme</signatureName>
        <signatureDate>2006-07-12</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----