UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended ~~January~~July 31, 2011

[] 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: 333-152679

DNA SYSTEMS, INC.

(Exact name of registrant as specified in its charter)


Nevada		98-0557273
(State or other jurisdiction of incorporation)		(IRS Employer Identification Number)

Room 306, 3^rd Floor, Beautiful Group Tower, 77 Connaught Road, Central, Hong Kong
(Address of principal executive offices)
(852) 2802-8663
(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 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. [ X ] Yes [ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ~~Not~~ ~~Applicable.~~[ X ] Yes [ ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and smaller reporting company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ] (Do not check if a smaller reporting company)	Smaller reporting company [ X ]

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

As of ~~March~~September 1512, 2011, there were 8,700,000 shares of voting common stock, $0.001 par value, of DNA Systems, Inc. issued and outstanding.

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PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

The financial statements of DNA Systems, Inc. (“we”, “us”, “our”, “DNAS” or the “Company”) a Nevada corporation, included herein were prepared, without audit, pursuant to rules and regulations of the Securities and Exchange Commission. Because certain information and notes normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America were condensed or omitted pursuant to such rules and regulations, these financial statements should be read in conjunction with the financial statements and notes thereto included in the audited financial statements of DNA Systems, Inc., for the fiscal year ended April 30, ~~2010~~2011 included in the Company’s Form 10-K filed with the Securities and Exchange Commission on July 2928, ~~2010~~2011, and all amendments thereto.

DNA SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED FINANCIAL STATEMENTS

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~JANUARY~~JULY 31, 2011 AND 2010

INDEX

Page

Condensed balance sheets

Condensed statements of operations and comprehensive loss

Condensed statements of cash flows

Notes to condensed financial statements

6 - 1011

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DNA SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED BALANCE SHEETS

AS OF ~~JANUARY~~JULY 31, 2011 AND APRIL 30, ~~2010~~2011

	As of		As of
	January 31,		April 30,
	July 31,		April 30,
	2011		~~2010~~2011
	(Unaudited)
	US$		US$
ASSETS
Current assets
Cash and cash equivalents	~~1,121~~954		1,~~852~~066
Total assets	~~1,121~~954		1,~~852~~066
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Accrued audit fee	27,~~310~~109		45,~~378~~857
Amount due to a stockholder (Note 7)	2930,~~502~~837		~~117~~30,~~460~~225
Total liabilities	3137,~~812~~946		~~121~~36,~~838~~082
Stockholders’ deficit
Common stock - US$0.001 par value (Note 4)
Authorized 65,000,000 shares; 8,700,000 and 8,500,000
Authorized 65,000,000 shares;
shares issued and outstanding	8,700		8,500
issued and outstanding 8,700,000 shares	8,700		8,700
Additional paid in capital	99,800		-99,800
Accumulated deficit during the development stage	(~~139~~145,~~562~~304	)	(~~128~~143,~~584~~218	)
Accumulated other comprehensive income	~~371~~(188	)	98(298	)
Total stockholders’ deficit	(3036,~~691~~992	)	(~~119~~35,~~986~~016	)
Total liabilities and stockholders’ deficit	~~1,121~~954		1,~~852~~066

See accompanying notes to condensed financial statements.

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DNA SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~JANUARY~~JULY 31, 2011 AND 2010

AND FROM INCEPTION ON OCTOBER 25, 2007 THROUGH ~~JANUARY~~JULY 31, 2011

	Three months				~~Nine months~~	Cumulative			~~Cumulative~~
	ended January 31,				ended January 31,				total since
	ended July 31,					total since
	2011		2010		~~2011~~	inception	~~2010~~		~~inception~~
	(Unaudited)		(Unaudited)		~~(Unaudited)~~	(Unaudited)	~~(Unaudited)~~		~~(Unaudited)~~
	US$		US$		~~US$~~	US$	~~US$~~		~~US$~~
Revenue	-		-		-	6,407	-		~~6,407~~
Expenses
Formation expenses	-		-		-	513	-		~~513~~
General and administrative expenses	42,~~270~~086		92,~~460~~208		~~10,978~~	151,198	~~78,371~~		~~145,456~~
Loss before income taxes	(42,~~270~~086	)	(92,~~460~~208	)	~~(10,978~~	)(145,304	~~(78,371~~)	)	~~(139,562~~	)
Income taxes (Note 2)	-		-		-	-	-		-
Net loss	(42,~~270~~086	)	(92,~~460~~208	)	~~(10,978~~	)(145,304	~~(78,371~~)	)	~~(139,562~~	)
Other comprehensive income
Other comprehensive income (loss)
Foreign currency translation adjustment	~~145~~110		~~211~~17		~~273~~	(188	~~1,442~~)		~~371~~
Total comprehensive loss	(41,~~125~~976	)	(92,~~249~~191	)	~~(10,705~~	)(145,492	~~(76,929~~)	)	~~(139,191~~	)
Net loss per share :
Basic and diluted (Note 3)	(0.00	)	(0.00	)	~~(0.00~~	)(0.02	~~(0.01~~)	)	~~(0.02~~	)
Weighted average number of shares :
Basic and diluted	8,700,000		8,500,000		~~8,594,203~~	8,279,578	~~8,500,000~~		~~8,215,900~~

See accompanying notes to condensed financial statements.

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DNA SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~JANUARY~~JULY 31, 2011 AND 2010

AND FROM INCEPTION ON OCTOBER 25, 2007 THROUGH ~~JANUARY~~JULY 31, 2011

	Three months				~~Nine months~~	Cumulative			~~Cumulative~~
	ended January 31,				ended January 31,				total since
	ended July 31,					total since
	2011		2010		~~2011~~	inception	~~2010~~		~~inception~~
	(Unaudited)		(Unaudited)		~~(Unaudited)~~	(Unaudited)	~~(Unaudited)~~		~~(Unaudited)~~
	US$		US$		~~US$~~	US$	~~US$~~		~~US$~~
Cash flows from operating activities
Net loss	(42,~~270~~086	)	(92,~~460~~208	)	~~(10,978~~	)(145,304	~~(78,371~~)	)	~~(139,562~~	)
Change in liability
Accrued audit fee	(12	)	(1,705	)	(2,068	)	(3,307	)	2,310
Other payables	-		12,019			-
Net cash used in operating activities	(4,282	)	(11,165	)	(13,046	)	(81,678	)	(137,252	)
Accrued audit fee	1,252		(1	)		7,109
Cash flows from financing activities
Net cash (used in) from operating activities	(834	)	9,810			(138,195	)
Proceeds from issuance of
Cash flows from financing activities
common stock	-		-		100,000		-		108,500
Proceeds from issuance of common stock	-		-			108,500
(Repayment to) advances from a stockholder	4,074		12,183		(87,958)		81,328		29,502
Advances from (Repayment to) a stockholder	612		(6,917	)		30,837
Net cash provided by financing activities	4,074		12,183		12,042		81,328		138,002
Net cash provided by (used in) financing activities	612		(6,917	)		139,337
Effect of foreign exchange rate changes in
Effect of foreign exchange rate changes in cash and
cash and cash equivalents	145		211		273		1,442		371
cash equivalents	110		17			(188	)
Net change in cash and cash equivalents	(63112	)	12,~~229~~910		~~(731~~	)954	~~1,092~~		~~1,121~~
Cash and cash equivalents, beginning
Cash and cash equivalents, beginning of period	1,066		1,852			-
of period	1,184		681		1,852		818		-
Cash and cash equivalents, end of period	954		4,762			954
Cash and cash equivalents, end of period	1,121		1,910		1,121		1,910		1,121
Supplemental cash flow information:
Supplemental cash flow information :
Cash paid for :
Cash paid for :
Income taxes	-		-			-
Income taxes	-		-		-		-		-
Interest	-		-			-
Interest	-		-		-		-		-

See accompanying notes to condensed financial statements.

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DNA SYSTEMS, INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE THREE ~~AND NINE~~ MONTHS ENDED ~~JANUARY~~JULY 31, 2011 AND 2010

AND FROM INCEPTION ON OCTOBER 25, 2007 THROUGH ~~JANUARY~~JULY 31, 2011

NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

Corporate information

DNA Systems, Inc. (the “Company”) was incorporated in the State of Nevada on October 25, 2007 for the purpose of exploring new business opportunities. The Company is a development stage company and has not yet generated any significant revenue from its operations.

On April 11, 2008, the Company entered into an agreement with DNA Financial Systems (HK) Limited (“DNAF Limited”), a Hong Kong corporation founded in 2005, pursuant to which the Company agreed to provide venues for DNAF Limited to organize conferences, seminars, corporate trainings and programs in line with professional events.

Continuance of operations

These financial statements are prepared on a going concern basis, which has considered the realization of assets and satisfaction of liabilities in the Company’s normal course of business. As of ~~January~~July 31, 2011, the Company had cash and cash equivalents of US$1954,~~121,~~ working capital deficit and stockholders’ deficit of US$3036,~~691~~992 and accumulated deficit during the development stage of US$~~139~~145,~~562~~304 respectively. Also, the Company is a development stage company and has not produced significant revenue. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

Management plans on the continuation of the Company as a going concern include financing the Company’s existing and future operations through additional issuance of common stock and/or advances from the major stockholder and seeking for profitable business opportunities. However, the Company has no assurance with respect to these plans. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Basis of preparation

The accompanying condensed financial statements are unaudited. These condensed financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted pursuant to such SEC rules and regulations:; nevertheless, the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed financial statements and the notes hereto should be read in conjunction with the financial statements and notes thereto included in the Company’s financial report for the year ended April 30, ~~2010~~2011.

In the opinion of the management of the Company, the unaudited condensed financial statements for the interim periods presented include all adjustments, including normal recurring adjustments, necessary to fairly present the results of such interim periods and the financial position as of the end of the said periods. The results of operations for the interim periods are not necessarily indicative of the results for the full year.

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Cash and cash equivalents

Cash equivalents comprise highly liquid investments with original maturity of three months or less. At ~~January~~July 31, 2011, cash equivalents consisted of bank balance of US$~~638~~471 and cash on hand of US$483.

Concentration of risk

The Company keeps cash in Hong Kong dollar (“HKD”) and maintains a HKD savings account with a commercial bank in Hong Kong, which are financial instruments that are potentially subject to concentration of credit risk. During the reporting periods, the Company did not engage in any hedging activities.

Income taxes

The Company accounts for income tax in accordance with ASC 740 ‘’Income taxes’’ (previously SFAS No. 109), which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of the events that have been included in the financial statements or tax returns. Deferred income taxes are recognized for all significant temporary differences between tax and financial statement bases of assets and liabilities. A valuation allowance is recognized on deferred tax assets when it is more likely than not that these deferred tax assets will not be realized.

Foreign currency translation

The Company kept cash and cash equivalents and incurred expenses in HKD during the reporting periods and thus HKD is considered to be the Company’s functional currency. Transactions denominated in currencies other than HKD are translated into HKD at the applicable rates of exchange prevailing at the dates of the transactions. Monetary assets and liabilities denominated in other currencies are translated into HKD at the rates of exchange prevailing at the balance sheet date. Exchange gains and losses are included in the determination of net loss.

For financial reporting purposes, HKD has been translated into United States dollars (“US$”) as the reporting currency. Assets and liabilities are translated into US$ at the exchange rate in effect at the period end. Income and expenses are translated at average exchange rate prevailing during the period. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ deficit as “Accumulated other comprehensive income (loss)”. Gains and losses resulting from foreign currency translation are included in other comprehensive income / (loss).

Conversion of amounts from HKD into US$ has been made at the exchange rate of US$1.00 for HKD7.~~7914~~7926 as of ~~January~~July 31, 2011.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in these financial statements and the accompanying notes during the reporting periods. Actual results could differ from those estimates.

Fair values of financial instruments

The Company’s financial instruments include cash and cash equivalents, accrued audit fee and amount due to a stockholder. Management of the Company does not believe that the Company is subject to significant interest, currency or credit risks arising from these financial instruments. The respective carrying values of these financial instruments approximate their fair values since they are short-term in nature or they are receivable or payable on demand.

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instruments. The respective carrying values of these financial instruments approximate their fair values since they are short-term in nature or they are receivable or payable on demand.

Recently issued accounting pronouncements

~~The~~In July 2010, the FASB issued ~~Accounting~~ASU ~~Standards~~2010-20 ~~Update~~“Receivables (~~ASU~~Topic 310): NoDisclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses”. ~~2009~~The objective of ASU 2010-~~13,~~20 ~~Revenue~~is ~~Recognition~~to ~~(Topic~~provide ~~605):~~financial ~~Multiple~~statement ~~Deliverable~~users ~~Revenue~~with ~~Arrangements~~greater -transparency Aabout ~~Consensus~~an ofentity’s allowance for credit losses and the ~~FASB~~credit ~~Emerging~~quality ~~Issues~~of ~~Task~~its ~~Force~~financing receivables.” ~~This~~Under ~~update~~ASU ~~provides~~2010-20, ~~application~~an ~~guidance~~entity onis ~~whether~~required ~~multiple~~to ~~deliverables~~provide ~~exist,~~disclosures ~~how~~so ~~the~~that ~~deliverables~~financial ~~should~~statement beusers ~~separated~~can ~~and~~evaluate ~~how~~ the ~~consideration~~nature ~~should~~of bethe ~~allocated~~credit torisk ~~one~~inherent orin ~~more~~the ~~units~~entity’s portfolio of ~~accounting.~~financing ~~This~~receivables, ~~update~~how ~~establishes~~that arisk ~~selling~~is ~~price~~analyzed ~~hierarchy~~and ~~for~~assessed ~~determining~~to arrive at the ~~selling~~allowance ~~price~~for ofcredit alosses, ~~deliverable.~~and ~~The~~the ~~selling~~changes ~~price~~and ~~used~~reasons for ~~each~~those ~~deliverable~~changes ~~will~~in bethe ~~based~~allowance onfor ~~vendor~~credit losses. ASU 2010-~~specific~~20 ~~objective~~is ~~evidence,~~applicable ifto ~~available~~all entities, ~~third-party~~both ~~evidence~~public ifand ~~vendor~~non-~~specific~~public ~~objective~~and ~~evidence~~ is ~~not~~effective ~~available,~~for orinterim ~~estimated~~and ~~selling~~annual ~~price~~reporting ifperiods ~~neither~~beginning ~~vendor-specific~~on or ~~third-party~~after ~~evidence~~December is15, ~~available~~2010. ~~The~~Comparative ~~Company~~disclosure ~~will~~for beearlier ~~required~~reporting toperiods ~~apply~~that ~~this~~ended ~~guidance~~before ~~prospectively~~initial ~~for~~adoption ~~revenue~~is ~~arrangements~~encouraged ~~entered~~but ~~into~~not orrequired. ~~materially~~However, ~~modified~~comparative ~~after~~disclosures ~~January~~are 1,required ~~2011;~~to ~~however,~~be ~~earlier~~disclosed ~~application~~for isthose ~~permitted~~reporting periods ending after initial adoption. The adoption of this ASU ~~update~~has isno ~~not expected to have a~~ material ~~effect~~impact on the Company’s financial statements.

The FASB issued ASU ~~2010~~2011-~~06,~~01 ~~Improving~~“Receivables ~~Disclosures about Fair Value Measurements. ASU 2010-06 amends ASC~~ (Topic ~~820 to require the following additional disclosures regarding fair value measurements~~310): ~~(i)~~Deferral ~~the amounts~~ of ~~transfers~~the ~~between~~Effective ~~Level~~Date ~~1 and Level 2~~ of ~~the~~Disclosures ~~fair~~about ~~value~~Troubled ~~hierarchy;~~Debt ~~(ii)~~Restructurings ~~reasons~~in ~~for~~Update ~~any~~No. ~~transfers~~2010-20”. The amendments in orthis ~~out~~Update oftemporarily ~~Level~~delay ~~3 of~~ the ~~fair~~effective ~~value~~date ~~hierarchy~~of ~~and (iii)~~ the ~~inclusion~~disclosure ~~of information~~ about ~~purchases,~~troubled ~~sales,~~debt ~~issuances~~restructurings ~~and settlements~~ in ~~the reconciliation of recurring Level 3 measurements.~~ ASU 2010-0620 ~~also~~for ~~amends~~public ~~ASC~~entities. The ~~Topic~~delay ~~820~~is intended to ~~clarify~~allow ~~existing~~the ~~disclosure~~Board ~~requirements,~~time ~~requiring~~to ~~fair~~complete ~~value~~its ~~disclosures~~deliberations byon ~~class~~what ofconstitutes ~~assets~~a ~~and~~troubled ~~liabilities~~debt ~~rather~~restructuring. The ~~than~~effective bydate ~~major category and the disclosure~~ of ~~valuation techniques and inputs used to determine~~ the ~~fair~~new ~~value~~disclosures ofabout ~~Level~~troubled 2debt ~~and~~restructuring ~~Level~~for 3public ~~assets~~entities and ~~liabilities. With~~ the ~~exception~~guidance offor ~~disclosures~~determining ~~relating~~what toconstitutes ~~purchases,~~a ~~sales,~~troubled ~~issuances~~debt ~~and~~restructuring ~~settlements~~will ofthen ~~recurring~~be ~~Level 3 measurements~~coordinated. Currently, ~~ASU~~that ~~2010-06~~guidance ~~was~~is ~~effective~~anticipated ~~for interim and annual reporting periods beginning after December 15, 2009. The disclosure requirements related~~ to ~~purchases, sales, issuances and settlements of recurring Level 3 measurements will~~ be effective for ~~financial~~interim ~~statements~~and ~~for~~ annual ~~reporting~~ periods ~~beginning~~ending after ~~December~~June 15, ~~2010~~2011. The adoption of ~~disclosure~~this ~~requirements for Level 3 measurements of~~ ASU ~~2010-06~~has isno ~~not expected to have a~~ material ~~effect~~impact on the Company’s financial statements.

In April, ~~2010~~2011, the FASB issued ASU ~~2010~~2011-~~13,~~02 ~~Compensation-Stock~~“Receivables ~~Compensation~~ (Topic ~~718~~310): -A ~~Effect~~Creditor’s Determination of ~~Denominating~~Whether ~~the~~a ~~Exercise~~Restructuring ~~Price~~is of a ~~Share-Based~~Troubled ~~Payment~~Debt ~~Award~~Restructuring”. The inamendments ~~the~~to ~~Currency~~Topic of310 ~~the~~clarify ~~Market in Which~~ the ~~Underlying~~guidance ~~Equity~~on ~~Security Trades -~~ a ~~consensus~~creditor’s evaluation of ~~the~~whether ~~FASB~~a ~~Emerging~~debtor ~~Issues~~is ~~Task~~experiencing ~~Force~~financial ~~or ASU 2010-13~~difficulties. A ~~ASU~~creditor ~~2010-13~~should ~~provides~~evaluate ~~amendments~~whether toit ~~Topic~~is ~~718~~probable tothat ~~clarify~~the ~~that~~debtor anwould ~~employee~~be ~~share-based~~in payment ~~award~~default ~~with~~on anany ~~exercise price denominated in the currency~~ of aits ~~market~~debts in ~~which~~foreseeable afuture ~~substantial~~without ~~portion of~~ the ~~entity's~~modification. ~~equity~~In ~~securities~~addition, ~~trades~~the ~~should~~amendments ~~not~~to beTopic ~~considered~~310 toclarify ~~contain~~that a ~~condition~~creditor ~~that~~ is ~~not~~precluded afrom ~~market,~~using ~~performance,~~the oreffective ~~service~~interest ~~condition.~~rate ~~Therefore,~~test anin ~~entity~~the ~~would~~debtor’s ~~not~~guidance ~~classify~~on ~~such~~restructuring anof ~~award~~payables as(paragraph a470-60-55-10) ~~liability~~when ifevaluating itwhether ~~otherwise~~a ~~qualifies~~restructuring asconstitutes ~~equity.~~a ~~The~~troubled ~~amendments~~debt inrestructuring. An ~~this~~entity ~~update~~should dodisclose ~~not expand~~ the ~~recurring~~total ~~disclosures~~amount ~~required~~of byreceivables ~~Topic~~and ~~718.~~the ~~Disclosures~~allowance ~~currently~~for ~~required~~credit ~~under~~losses ~~Topic~~as ~~718~~of ~~are applicable to a share-based payment award, including~~ the ~~nature~~end ~~and~~of the ~~term~~period of ~~share-based~~adoption ~~payment~~related ~~arrangements.~~to ~~The~~those ~~amendments~~receivables inthat ~~this update~~ are ~~effective~~newly ~~for~~considered ~~fiscal~~impaired ~~years,~~under ~~and~~Section ~~interim~~310-10-35 ~~periods~~for ~~within~~which ~~those~~impairment ~~fiscal~~was ~~years,~~previously ~~beginning~~measured onunder orSubtopic ~~after~~450-20, ~~December~~Contingencies ~~15,~~– ~~2010.~~Loss Contingencies. The ~~adoption~~management ~~of ASU 2010-13~~ is ~~not~~assessing ~~expected~~the toimpact ~~have~~of athis ~~material~~ASU ~~effect~~ on the Company’s financial statements.

In April 2011, the FASB issued ASU 2011-03 “Transfers and Servicing (Topic 860): Reconsideration of Effective Control for Repurchase Agreements”. The amendments in this ASU remove from the assessment of effective control (1) the criterion requiring the transferor to have the ability to repurchase or redeem the financial assets on substantially the agreed terms, even in the event of default by the transferee, and (2) the collateral maintenance implementation guidance related to that criterion. The guidance in this ASU is effective for the first interim or annual period beginning on or after December 15, 2011. The guidance should be applied prospectively to transactions or modifications of existing transactions that occur on or after the effective date. Early adoption is not permitted. The management is assessing the impact of this ASU on the Company’s financial statements.

- 8 -

In May 2011, the FASB issued ASU 2011-04 “Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs”. The FASB and the International Accounting Standard Board (IASB) work together to ensure that fair value has the same meaning in U.S. GAAP and IFRSs and that their respective fair value measurement and disclosure requirements are the same (except for minor differences in wording and style). The Boards concluded that the amendments in this ASU will improve the comparability of fair value measurements presented and disclosed in financial statements prepared in accordance with U.S. GAAP and IFRSs. The amendments in this ASU explain how to measure fair value. They do not require additional fair value measurements and are not intended to establish valuation standards or affect valuation practices outside of financial reporting. The amendments in this ASU are to be applied prospectively. For public entities, the amendments are effective during interim and annual periods beginning after December 15, 2011. Early application by public entities is not permitted. The management is assessing the impact of this ASU on the Company’s financial statements.

In June 2011, the FASB issued ASU 2011-05 “Comprehensive Income (Topic 220): Presentation of Comprehensive Income”. In this ASU, the entity has the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both choices, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. This Update eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity. The amendments in this ASU do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. The amendments in this ASU are to be applied retrospectively. For public entities, the amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. Early application by public entities is permitted. The management is assessing the impact of this ASU on the Company’s financial statements.

INCOME TAXES

A reconciliation of income taxes at statutory rate in the United States is as follows :-

	Nine months				Cumulative
	Three months				Cumulative
	ended January 31,				total since
	ended July 31,				total since
	2011		2010		inception
	(Unaudited)		(Unaudited)		(Unaudited)
	US$		US$		US$
Loss before income taxes	(102,~~978~~086	)	(782,~~731~~208	)	(~~139~~145,~~562~~304	)
Expected benefit at statutory rate of 15%	(~~1,647~~313	)	(~~11,810~~331	)	(2021,~~934~~796	)
Valuation allowance	~~1,647~~313		~~11,810~~331		2021,~~934~~796
Income taxes	-		-		-

In July 2006, the FASB issued ASC 740 (previously Interpretation No. 48 ‘‘Accounting for Uncertainty in Income Taxes”). This interpretation requires recognition and measurement of uncertain income tax positions using a “more-likely-than-not” approach. The management evaluated the Company’s tax position and considered that no additional provision for uncertainty in income taxes is necessary as of ~~January~~July 31, 2011.

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Recognized deferred income tax assets is as follows :-

	As of		As of
	January 31,		April 30,
	July 31,		April 30,
	2011		~~2010~~2011
	(Unaudited)
	US$		US$
Operating losses available for future periods	2021,~~934~~796		1921,~~288~~483
Valuation allowance	(2021,~~934~~796	)	(1921,~~288~~483	)
	-		-

As of ~~January~~July 31, 2011, the Company had incurred operating losses of US$~~139~~145,~~562~~304 which, if unutilized, will expire through to 2031. Future tax benefits arising as a result of these losses have been offset by a valuation allowance.

NET LOSS PER SHARE

During the reporting periods, the Company did not have any dilutive instruments. Accordingly, the reported basic and diluted loss per share is the same.

COMMON STOCK

The Company was incorporated on October 25, 2007 with authorized capital of 65,000,000 shares of common stock of US$0.001 par value. On December 7, 2007, 8,500,000 shares of common stock of US$0.001 par value totaling US$8,500 were issued for cash.

On September 24, 2010, 200,000 shares of common stock of US$0.001 par value totaling US$200 were issued to 25 investors for cash of US$100,000.

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STOCK INCENTIVE PLAN

The Company has not established any stock incentive plan since its incorporation.

COMMITMENTS AND CONTINGENCIES

The Company had no commitments or contingent liabilities as of ~~January~~July 31, 2011.

RELATED PARTY TRANSACTIONS

The majority stockholder, who is also the director, advanced US$2930,~~502~~837 to the Company to finance its working capital as of ~~January~~July 31, 2011. The advance is interest-free, unsecured and repayable on demand.

The Company paid management fee of US$Nil and US$38,664 to a related company for the provision of general administrative services and office premises during the nine months ended January 31, 2011 and from inception on October 25, 2007 through ~~January~~July 31, 2011 respectively. The related company is controlled by the Company’s director.

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SUBSEQUENT EVENTS

The Company has evaluated all subsequent events through the date the financial statements were issued and has determined that there were no subsequent events or transactions that required recognition or disclosure in the financial statements.

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ITEM 2.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

Special Note of Caution Regarding Forward Looking Statements

CERTAIN STATEMENTS IN THIS REPORT INCLUDE FORWARD-LOOKING STATEMENTS THAT INCLUDE RISKS AND UNCERTAINTIES. WE USE WORDS SUCH AS "ANTICIPATES," "BELIEVES," "PLANS," "EXPECTS," "FUTURE," "INTENDS" AND SIMILAR EXPRESSIONS TO IDENTIFY SUCH FORWARD-LOOKING STATEMENTS. THIS FORM ALSO CONTAINS FORWARD-LOOKING STATEMENTS ATTRIBUTED TO CERTAIN THIRD PARTIES RELATING TO THEIR ESTIMATES REGARDING THE OPERATION AND GROWTH OF OUR BUSINESS AND SPENDING. YOU SHOULD NOT PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH APPLY ONLY AS OF THE DATE HEREOF. WE HAVE BASED THESE FORWARD-LOOKING STATEMENTS ON OUR CURRENT EXPECTATIONS AND PROJECTIONS ABOUT FUTURE EVENTS. OUR ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE DISCUSSED IN THIS REPORT. OUR ABILITY TO GENERATE REVENUE IS SUBJECT TO SUBSTANTIAL RISKS.

Overview

DNA Systems, Inc. was incorporated in the State of Nevada on October 25, 2007. Our business operations are oriented towards providing event organizing services to business partners. Our overall objective is to create an event organizing business by building a corporate image as a reliable, trustworthy partner that provides high quality event planning and organizing service to our clients. Since inception, the Company has generated very limited revenue through its business operations.

Plan of Operations in the next 12 months

During the next twelve months, the Company expects to continue its efforts to seek for any potential business partners to provide event organizing services to them. We hope to build up our corporate reputation and align ourselves with additional business partners to provide our event organizing services to them. The Company does not have sufficient assets or capital resources to pay its on-going expenses while it is seeking out business opportunities. The main stockholder plans to temporarily advance capital to maintain normal operations. The main stockholder has agreed to provide temporary financing to the Company, but is not contractually obligated to do so. Accordingly, there can be no assurance that any additional funds will be available to the Company to allow it to cover its expenses. If the main stockholder ceases to advance capital and we fail to raise additional funding to fund our operating expenses, we may have to delay, scale back or discontinue some or all of our operations.

We have no real property and currently operate from office space provided by Easterly Financial Investment Limited (“Easterly”). On May 1, 2009, the Company started paying the management fee of US$2,581 to Easterly for its provision of general administrative services and office premises. Easterly is located at Room 2213-14, 22^nd Floor, Jardine House, 1 Connaught Place, Central, Hong Kong. The agreement was terminated on April 30, 2010, and we moved to Room 306, 3^rd Floor, Beautiful Group Tower, 77 Connaught Road, Central, Hong Kong in late May which is provided by Easterly for free. We have no plans to obtain additional office space for the next twelve months until our business is more developed.

Results of Operations

The following discussion and analysis provides information that we believe is relevant to an assessment and understanding of our results of operation and financial condition for the fiscal period ended ~~January~~July 31, 2011. The following discussion should be read in conjunction with the Financial Statements and related Notes appearing elsewhere in this Form 10-Q. Our financial statements are

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stated in US Dollars and are prepared in accordance with accounting principles generally accepted in the United States of America.

Results of Operation for DNA Systems, Inc. for the Three Months Ended ~~January~~July 31, 2011 Compared to the Three Months Ended ~~January~~July 31, 2010.

Revenue

Revenue. During the three month period ended ~~January~~July 31, 2011, the Company had no revenue as compared to no revenue during the three month period ended ~~January~~July 31, 2010. No revenue was generated by the Company during the three month period ended ~~January~~July 31, 2011 due to the fact that the Company was unable to locate any prospective business partners.

Expenses

Expenses. During the three month period ended ~~January~~July 31, 2011, the Company had general and administrative expenses of $42,~~270~~086 as compared to expenses of $92,~~460~~208 during the three month period ended ~~January~~July 31, 2010, a decrease of $~~5,190~~122. The decrease in expenses experienced by the Company was primarily attributable to decreases experienced by the Company regarding business operations, the exploration of new business opportunities, meeting with potential customers, and locating business partners.

Net Loss

Net Loss. The Company had a net loss of $42,~~270~~086 for the three month period ended ~~January~~July 31, 2011 as compared to net loss of $92,~~460~~208 for the three month period ended ~~January~~July 31, 2010, a change of $~~5,190~~122. The decrease in net loss experienced by the Company was primarily attributable to decreases experienced by the Company in its expenses.

Results of Operation for DNA Systems, Inc. for the Nine Months Ended January 31, 2011 Compared to the Nine Months Ended January 31, 2010.

Revenue

Revenue. During the nine month period ended January 31, 2011, the Company had no revenue as compared to no revenue during the nine month period ended January 31, 2010. No revenue was generated by the Company during the nine month period ended January 31, 2011 due to the fact that the Company was unable to locate any prospective business partners.

Expenses

Expenses. During the nine month period ended January 31, 2011, the Company had general and administrative expenses of $10,978 as compared to expenses of $78,371 during the nine month period ended January 31, 2010, a decrease of $67,393. The decrease in expenses experienced by the Company was primarily attributable to decreases experienced by the Company regarding business operations, the exploration of new business opportunities, meeting with potential customers, and locating business partners.

Net Loss

Net Loss. The Company had a net loss of $10,978 for the nine month period ended January 31, 2011 as compared to net loss of $78,371 for the nine month period ended January 31, 2010, a change of $67,393. The decrease in net loss experienced by the Company was primarily attributable to decreases experienced by the Company in its expenses.

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Liquidity and Capital Resources

As of ~~January~~July 31, 2011, our unaudited balance sheet reflects that we have total assets of $1954,~~121,~~ as compared to total assets of $1,~~852~~066 as of April 30, ~~2010~~2011, a decrease of $~~731~~112. As of ~~January~~July 31, 2011, our unaudited balance sheet reflects that we have total liabilities of $3137,~~812~~946, as compared to total liabilities of $~~121~~36,~~838~~082 as of April 30, ~~2010~~2011, aan ~~decrease~~increase of $901,~~026~~864. As of ~~January~~July 31, 2011, the Company has an accumulated deficit of $~~139~~145,~~562~~304.

The Company does not have sufficient assets or capital resources to pay its on-going expenses while it is seeking out business opportunities. The Company has no agreement in place with its shareholder or other persons to pay expenses on its behalf, but it is currently anticipated that the Company will rely on loans from the shareholder, Mr. Wilson Cheung, to pay any daily operating expenses prior to any fund raising exercise. The Company anticipates that this arrangement will not change until the Company is able to generate enough revenue to cover the Company’s operating expenses.

Off Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements.

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not Applicable

ITEM 4.

CONTROLS AND PROCEDURES.

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Disclosure Controls and Procedures

The Securities and Exchange Commission defines the term “disclosure controls and procedures” to mean the company'’s controls and other procedures of an issuer that are designed to ensure that information required to be disclosed in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Securities Exchange Act of 1934 is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. The Company maintains such a system of controls and procedures in an effort to ensure that all information which it is required to disclose in the reports it files under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified under the SEC'’s rules and forms and that information required to be disclosed is accumulated and communicated to principal executive and principal financial officers to allow timely decisions regarding disclosure.

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our principal executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures are designed to provide reasonable assurance of achieving the objectives of timely alerting them to material information required to be included in our periodic SEC reports and of ensuring that such information is recorded, processed, summarized and reported with the time periods specified. Our principal executive officer and principal financial officer also concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report to provide reasonable assurance of the achievement of these objectives.

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Changes in Internal Control over Financial Reporting

There was no change in the Company'’s internal control over financial reporting during the quarter ended ~~January~~July 31, 2011, that has materially affected, or is reasonably likely to materially affect, the Company'’s internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

The Company is not a party to any pending legal proceedings, and no such proceedings are known to be contemplated. No director, officer or affiliate of the Company, and no owner of record or beneficial owner of more than 5.0% of the securities of the Company, or any associate of any such director, officer or security holder is a party adverse to the Company or has a material interest adverse to the Company in reference to pending litigation.

ITEM 1A. RISK FACTORS.

Not Applicable.

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

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

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None.

ITEM 4. (REMOVED AND RESERVED).

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS.

The following exhibits are filed herewith:

3.1

Articles of Incorporation (herein incorporated by reference from Registration Statement on Form S-1 filed with the Securities and Exchange Commission on July 31, 2008).

3.2

Bylaws (herein incorporated by reference from Registration Statement on Form S-1 filed with the Securities and Exchange Commission on July 31, 2008).

10.1

Contract with DNA Financial Systems (HK) Limited signed on April 11, 2008 (herein incorporated by reference from Registration Statement on Form S-1 filed with the Securities and Exchange Commission on July 31, 2008).

31.1*

Certifications pursuant to Rule 13a-15(a) or 15d-15(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*

31.2*

Certifications pursuant to Rule 13a-15(a) or 15d-15(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*

-32.1 ~~14 -~~

32Certifications pursuant to 18 U.1*S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*

~~Certifications pursuant to 18 U~~32.~~S.C.~~2 ~~Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.~~

32Certifications pursuant to 18 U.2*S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*

~~Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.~~101

SCH XBRL Schema Document.*

101

CAL XBRL Taxonomy Extension Calculation Linkbase Document.*

101

LAB XBRL Taxonomy Extension Label Linkbase Document.*

101

PRE XBRL Taxonomy Extension Presentation Linkbase Document.*

101

DEF XBRL Taxonomy Extension Definition Linkbase Document.*

* Filed Herewith

SIGNATURES

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

DNA SYSTEMS, INC.

By: /s/ Wilson Cheung, President, Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer and Director

Date: ~~March~~September 1512, 2011

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Filing Compare · DNA Systems, Inc.