FORM 10-QSB/A
                                   -------------
                                (Amendment No. 2)


                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   (Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                  For the quarterly period ended March 31, 2005

                                       OR
[_]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

        For the transition period from               to
                                       -------------    ----------------

                         Commission File Number 0-31949


                           INNOFONE.COM, Incorporated
                           --------------------------
             (Exact name of registrant as specified in its charter)


             Nevada                                               98-0202313
--------------------------------                              ------------------
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)


1431 Ocean Avenue, Suite 1100, Santa Monica, CA                      90401
-------------------------------------------------             ------------------
(Address of principal executive office)                           (Zip Code)

                                 (310) 458-3233
                                 --------------
              (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.   Yes  X   No
                                        -----   -----

The number of shares outstanding of each of Issuer's classes of common equity as
of March 31, 2005

     Common Stock at Par Value $0.001                        16,369,484
     --------------------------------               -----------------------
              Title of Class                             Number of Shares

Transitional Small Business Disclosure Format    yes      no  X
                                                    -----   -----




                           INNOFONE.COM, Incorporated

                                      Index
                                      -----

                                                                         Page
                                                                        ------
                                     Part I


Item 1.    Financial Statements

           Condensed Balance Sheet.................................        3

           Condensed Statements of Operations......................        4

           Statements of Shareholders' Deficiency..................        5

           Statement of Cash Flows.................................        6

           Notes to Condensed Financial Statements.................        7

Item 2.    Management's Discussion and Analysis or Plan of
            Operation..............................................        9


                                     Part II

Items 1-6. Other Information.......................................       10

           Signatures..............................................       12



      On May 16, 2005, Innofone.com, Incorporated (the "Company") filed its
Quarterly Report on Form 10-QSB for its quarter ended March 31, 2005 (the "Form
10-QSB"). On January 24, 2006, the Company filed Amendment No. 1 on Form
10-QSB/A to reflect revisions to the certifications and to reflect the recent
resignation of the Company's Chief Financial Officer. Disclosure pertaining to
the resignation of the Chief Financial Officer has been previously filed on
Current Report Form 8-K filed on January 23, 2006. The Company is filing this
Amendment No. 2 on Form 10-QSB/A to reflect additional revisions to the
certifications and to include the full quarterly report in this Amendment as was
previously filed on May 16, 2005.


      This Amendment does not reflect events occurring after the filing of the
original 10-QSB and other than the adjustments stated, does not modify or update
the disclosures in the original 10-QSB in any way.


                                        2



                            I N N O F O N E . C O M ,
                             I N C O R P O R A T E D

                      For the quarter ended March 31, 2005
                                   (Unaudited)


INNOFONE.COM, INCORPORATED
Condensed Balance Sheet
(Stated in United States dollars)

March 31, 2005 with comparative figures as at June 30, 2004

================================================================================
                                                March 31, 2005    June 30, 2004
--------------------------------------------------------------------------------
                                                 (unaudited)       (unaudited)

Assets
------

Current assets                                  $           0     $           0
================================================================================


Liabilities and Shareholders' Deficiency
-----------------------------------------

Current liabilities:
     Accounts payable and accrued liabilities   $           0     $           0
     ---------------------------------------------------------------------------

Shareholders' deficiency:
     Share capital:
       Common shares                                4,888,078         4,878,930
       Additional paid-in capital                   9,204,984         9,023,332
     ---------------------------------------------------------------------------
                                                   14,093,062        13,902,262
     Deficit                                      (14,093,062)      (13,902,262)
     ---------------------------------------------------------------------------
                                                            0                 0

--------------------------------------------------------------------------------
                                                $           0     $           0
================================================================================


                 See accompanying notes to financial statements.
                                        3





INNOFONE.COM, INCORPORATED
Condensed Statements of Operations
(Stated in United States dollars)

For the three months ended March 31, 2005 with comparative figures for the three
months ended March 31, 2004

===================================================================================================================
                                                       Three months ended                  Nine months ended
                                                 March 31, 2005   March 31, 2004    March 31, 2005   March 31, 2004
-------------------------------------------------------------------------------------------------------------------
                                                  (unaudited)      (unaudited)       (unaudited)      (unaudited)

                                                                                         
Sales                                            $           -    $           -     $           -    $           -

Cost of sales                                                -                -                 -                -
-------------------------------------------------------------------------------------------------------------------

Gross profit                                                 -                -                 -                -

Selling, general and administrative expenses           115,800          104,000           215,800          499,000
-------------------------------------------------------------------------------------------------------------------

Net income (loss)                                $    (115,800)   $    (104,000)    $    (215,800)   $    (499,000)
===================================================================================================================

Basic net loss per share                         $           0    $           0     $           0    $       (0.07)
===================================================================================================================

Weighted average number of common
   shares outstanding                               16,835,484        4,955,891        11,865,484        7,361,484
===================================================================================================================



                 See accompanying notes to financial statements.
                                        4





INNOFONE.COM, INCORPORATED
Statement of Shareholders' Deficit
(Stated in United States Dollars)

For The Period Ended March 31, 2005

====================================================================================================================
                                                                      Additional
                                                       Common          Paid-In
                                                       Shares          Capital          Deficit           Total
--------------------------------------------------------------------------------------------------------------------

                                                                                          
BALANCE, June 30, 2001                                 4,773,965    $   7,098,052    $ (13,654,877)   $  (1,782,860)

Stock options exercised                                      475             (427)               -               48
Convertible notes converted to stock                         520          415,480                -          416,000
Issuance of stock for Digital Micro
   Distribution Canada Inc.                               67,000                -                -           67,000
Issuance of stock for equipment                              146            7,154                -            7,300
Convertible notes converted to stock                         666          199,334                -          200,000
Net earnings                                                   -                -          335,940          335,940
--------------------------------------------------------------------------------------------------------------------

BALANCE, June 30, 2002                                 4,842,772        7,719,593      (13,318,937)        (756,572)

Convertible note converted to stock                        2,300          647,700                -          650,000
Issuance of shares for legal services                        500            1,887                -            2,387
Issuance of shares for consulting services                26,378          180,932                -          207,310
Net loss                                                       -                -         (209,697)        (209,697)
--------------------------------------------------------------------------------------------------------------------

BALANCE, June 30, 2003                                 4,871,950        8,550,112      (13,528,634)        (106,572)

Issuance of shares for consulting services                 7,060          448,140                -          455,200
Net loss                                                       -                -         (348,628)        (348,628)
--------------------------------------------------------------------------------------------------------------------

BALANCE, June 30, 2004                                 4,879,010        8,998,252      (13,877,262)               -

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

BALANCE September 30, 2004                             4,879,010        8,998,252      (13,877,262)               -

Issuance of shares for consulting services                10,000           90,000                -          100,000

Net loss                                                       -                -         (100,000)        (100,000)
--------------------------------------------------------------------------------------------------------------------

BALANCE December 31, 2004                              4,889,010        9,088,252      (13,977,262)               -

Issuance of shares for consulting services (net)            (932)         116,732                -          115,800

Net loss                                                       -                -         (115,800)        (115,800)
--------------------------------------------------------------------------------------------------------------------

BALANCE March 31, 2005                                 4,888,078        9,204,984      (14,093,062)               -
====================================================================================================================



                 See accompanying notes to financial statements.
                                        5




INNOFONE.COM, INCORPORATED
Statement of Cash Flows
(Stated in United States dollars)

For the three months ended March 31, 2005 with comparative figures for the three
months ended March 31, 2004

=======================================================================================
                                                             Three Months Ending
                                                       March 31, 2005    March 31, 2004
---------------------------------------------------------------------------------------
                                                        (unaudited)       (unaudited)

                                                                   
Cash flows provided by (used in):

Operations:
     Net earnings (loss)                               $     115,800     $     104,000
     Shares issued for consulting services                  (115,800)                -

     Changes in non-cash operating working capital
        Accounts payable                                           -          (104,000)
     ----------------------------------------------------------------------------------
                                                                   -                 -
---------------------------------------------------------------------------------------

Increase (decrease) in cash and cash equivalents                 nil               nil

Cash and cash equivalents, beginning of period                   nil               nil

---------------------------------------------------------------------------------------
Cash and cash equivalents, end of period               $         nil     $         nil
=======================================================================================


Cash interest paid for the quarter ended March 31, 2005 and March 31, 2004 was
$0 and $0 respectively.


                 See accompanying notes to financial statements
                                        6


INNOFONE.COM, INCORPORATED
Notes to the Financial Statements
March 31, 2005

1.   BASIS OF PRESENTATION

                             Bulletin Board Listing
                             ----------------------

In January 2001, the Company completed a Registration Statement that has been
filed with the United States Securities and Exchange Commission in order for the
Company's shares to be eligible for trading in the United States on the National
Association of Securities Dealings over-the-counter Bulletin Board.

2.   SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared by management in accordance with
accounting principles generally accepted in the United States, the more
significant of which are outlined below.

                                Use of Estimates
                                ----------------

The preparation of financial statements in conformity with United States
generally accepted accounting principles 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 year.
Actual results could differ from those estimates.

                          Foreign Currency Translation
                          ----------------------------

The Company's reporting currency is the United States dollar because the Company
is a United States corporation and it is trading publicly in the United States.
The statements of operations are translated into United States dollars using the
average exchange rate for the year. The balance sheets are translated into
United States dollars using the year-end exchange rate.

                               Stock Option Plans
                               ------------------

The Company applies the fair value based method of accounting prescribed by SFAS
No. 123, Accounting for Stock-Based Compensation in accounting for its stock
options granted to both employees and non-employees. As such, compensation
expense is recorded on the date of grant based on the fair value of the award
and is recognized over the service period.

     Impairment of Long-Lived Assets and Long-Lived Assets to be Disposed of
     -----------------------------------------------------------------------

The Company accounts for long-lived assets in accordance with the provisions of
SFAS No. 121, Accounting for the Impairment of Long-Lived Assets and Long-Lived
Assets to be Disposed of. This statement requires that long-lived assets and
certain identifiable intangibles be reviewed for impairment whenever events or
changes in circumstances indicate that the carrying amount of an asset may not
be recoverable. Recoverability of assets to be held and used is measured by a
comparison of the carrying amount of an asset to future net cash flows expected
to be generated by the asset. If such assets are considered to be impaired, the
impairment to be recognized is measured by the amount by which the carrying
amount of the assets exceeds the fair value of the assets. Assets to be disposed
of are reported at the lower of the carrying amount or fair value less costs to
sell.

3.   CAPITAL STOCK

The number of outstanding shares of the Company as at December 31, 2004 is
computed as follows:


                                        7


INNOFONE.COM, INCORPORATED
Notes to Financial Statements
(Stated in United States Dollars)
March 31, 2005

                                                                  Common
============================================================================

Outstanding Shares as at June 30, 2000                          20,750,000

Shares issued in exchange for legal fees                         1,403,333
Options exercised in exchange for marketing costs                   30,000
Options exercised                                                  430,000
Promissory notes converted to common stock                       3,851,500
Common stock subscribed                                          1,000,004
Preferred stock to be converted to common stock                  3,750,000

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

Outstanding Shares as at June 30, 2001                          31,214,837

Shares issued in exchange for equipment                            146,000
Options exercised                                                  475,000
Shares issued to DMD CANADA shareholders                        67,000,000
Shares issued on conversion of debt                              1,186,668
----------------------------------------------------------------------------

Outstanding Shares as at June 30, 2002                         100,022,505

Shares issued in exchange for consulting fees                   23,357,826
Shares issued in exchange for legal fees                           500,000
Reverse stock split:  175 shares for one share                (123,172,444)
Share issuance on conversion of debt                             2,300,000
Share issuance on exchange for consulting fees                   3,021,800
Reverse stock split:  20 shares for one share                   (5,728,203)
----------------------------------------------------------------------------

Outstanding shares as at June 30, 2003                             301,484

Share issuance for consulting fees                               7,000,000
----------------------------------------------------------------------------

Outstanding shares as at June 30, 2004                           7,301,484

Share issuance for consulting fees                              10,000,000
----------------------------------------------------------------------------
Outstanding shares as at December 31, 2004                      17,301,484
----------------------------------------------------------------------------
Share issuance for consulting fees (net)                          (932,000)
----------------------------------------------------------------------------
Outstanding shares as at March 31, 2005                         16,369,484
============================================================================


                                        8


    Management's Discussion and Analysis For the Quarter ended March 31, 2005

Forward-Looking Statements
--------------------------

The following discussion of the financial condition and results of operations of
the Company should be read in conjunction with the Management's Discussion and
Analysis of Financial Condition and Results of Operations and the Consolidated
Financial Statements and Notes thereto for the year ended June 30, 2004 filed
with the SEC on October 15, 2004. This quarterly report includes forward-looking
statements within the meaning of Section 21E of the Securities Exchange Act of
1934. Words such as "may," "plans," "expects," "anticipates," "approximates,"
"believes," "estimates," "intends," "hopes," "potential," or "continue", and
variations of such words and similar expressions, are intended to identify such
forward-looking statements. The Company intends such forward-looking statements,
all of which are qualified by this statement, to be covered by the safe harbor
provisions for forward-looking statements contained in the Private Litigation
Securities Reform Act of 1995, and is including this statement for purposes of
complying with these safe harbor provisions. The Company has based these
statements on its current expectations and projections about future events.
These forward-looking statements are not guarantees of future performance, and
are subject to risks and uncertainties that could cause actual results to differ
materially from those projected in these statements. Forward-looking statements
include, but are not limited to:

Readers are cautioned not to place undue reliance on these forward-looking
statements, which reflect management's views only as of the date hereof. The
Company is not obligated to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
In light of these risks, uncertainties and assumptions, the forward-looking
events discussed in this Quarterly Report on Form 10-QSB might not occur.
Readers should carefully review the risk factors described in the previously
filed Form 10-KSB and in any other documents the Company files from time to time
with the Securities and Exchange Commission, including any future Annual Reports
on Form 10-KSB and Quarterly Reports on Form 10-QSB.

Overview
--------

Innofone.com Inc. currently operates out of Maryland with mailing address of
3470 Olney-Laytonsville Rd., Suite 118, Olney, MD 20832.

The Company currently does not have sufficient funds with which to sustain its
operations. The company plans to issue stock to try and raise operating capital
for the company. There is no assurance that this can be done. There is little
chance that the company will receive a dividend from the bankruptcy of its
previously owned subsidiary, Innofone Canada.

The Company is currently reviewing and implementing new disclosure controls and
procedures to ensure that they fully comply with the new Securities Exchange Act
Rules 13a-15 and 15d-15.

(a)  Plan of Operations
(b)  Acquisitions
(c)  Future

The company plans to look for new acquisitions and will not invest or operate
any current or previously owned subsidiaries.

The company has relocated to Maryland and may change it's offices again if the
company is successful in finding a new acquisition.

Due to the lack of sufficient operating funds, Mr Richardson is currently
funding operations.


                                        9


(b)  Results of Operations

As reflected in the company's statement of operations the company has recorded
no sales for the year and the company does not currently conduct any operations.

The current officers and directors are covering all expenses of the company via
short-term loans and advances which have been and will continue to be paid off
in stock until the company has the cash flow to cover these expenses. These
services include the preparation of company filings, the search of acquisition
targets and legal expenses.


                           PART II- OTHER INFORMATION.

Item 1. Legal Proceedings.

There are currently no legal proceedings against the company at this time.

Item 2. Change in Securities.

1,280,000 shares were returned by Mr. Richardson
348,000 shares were issued for consulting services

Item 3. Defaults Upon Senior Securities.

There was no material default in payments of any Senior Securities it has all
been paid in full with stock.

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

There were no matters requiring a vote of security holders during this period.

Item 5. Other Information.

None.


                                       10


Item 6. Exhibits

      A. Exhibits

31.1  Certification pursuant to Section 302 of the Sarbanes-Oxley Act.*

32.1  Certification pursuant to Section 906 of the Sarbanes-Oxley Act.*

______
* Filed herewith.


                                       11


SIGNATURES
----------

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

                                            INNOFONE.COM, Incorporated
                                            --------------------------



Date: February 2, 2006                By: /s/ Alex Lightman
                                          ---------------------------------
                                          Alex Lightman, Chief Executive Officer
                                          and Principal Financial Officer



                                       12