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

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2013

[ ] 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: 0-51216

ANDAIN, INC.

(Exact Name of Company as Specified in its Charter)

Nevada		20-2066406
(State or Other Jurisdiction of Incorporation		(I.R.S. Employer
or Organization)		Identification No.)

400 South Beverly Drive, Suite 312, Beverly Hills, California		90212
(Address of Principal Executive Offices)		(Zip Code)

Company’s telephone number:		(310) 286-1777

_____________________________________________________

(Former Name, Former Address, and Former Fiscal Year, if Changed Since Last Report)

Indicate by check mark whether the Company (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 Company was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [x] No [ ] .

Indicate by check mark whether the Company 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 during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [x] 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	[ ]		Smaller reporting company	[X]

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

As of June 30, 2013, the Company had 85,115,242 shares of common stock issued and outstanding.

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TABLE OF CONTENTS

		PAGE
PART I - FINANCIAL INFORMATION		3
ITEM 1. FINANCIAL STATEMENTS		3
CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2013 (UNAUDITED) AND DECEMBER 31, 2012		3
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2013 AND JUNE 30, 2012 AND PERIOD OF INCEPTION THROUGH JUNE 30, 2013		4
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE SIX MONTHS ENDED JUNE 30, 2013 AND JUNE 30, 2012 AND PERIOD OF INCEPTION THROUGH JUNE 30, 2013		5
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)		7
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS		14
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		21
ITEM 4. CONTROLS AND PROCEDURES		21

PART II - OTHER INFORMATION		22
ITEM 1. LEGAL PROCEEDINGS		22
ITEM 1A. RISK FACTORS		22
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS		23
ITEM 3. DEFAULTS UPON SENIOR SECURITIES		23
ITEM 4. MINE SAFETY DISCLOSURES		23
ITEM 5. OTHER INFORMATION		23
ITEM 6. EXHIBITS		23
SIGNATURE		24

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PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

ANDAIN, INC.

(A Development Stage Company)

CONSOLIDATED BALANCE SHEETS

(U.S. Dollars)

	June 30,			December 31,
	2013			2012
	(Unaudited)
ASSETS
Current assets:
Related party receivables	$	95,767			66,467
Accounts receivable		13,250			432,782
Total current assets		109,017			499,249

Long-term assets:
Related party		384,595			—
Property, plant and equipment, net		—			24,808

Total assets	$	493,613			524,057

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Credit from banks	$	—		$	3,449
Accounts payable and accrued expenses		297,146			697,164
Total current liabilities		297,146			700,613

Long-term liabilities:
Key management		362,150			166,904
Long-term shareholder loans		127,000			127,000
Total liabilities		786,297			994,517

Stockholders’ deficit:
Preferred stock, $0.001 par value, 10,000,000 authorized shares; no shares issued and outstanding		—			—
Common stock, $0.001 par value, 500,000,000 shares authorized; 85,115,242 shares issued and outstanding at June 30, 2013 and 56,704,928 at December 31, 2012		84,840			56,704
Additional paid-in capital		6,895,798			6,475,002
Accumulated deficit during development stage		(7,214,432	)		(6,547,265	)
Accumulated other comprehensive income (loss)		(58,890	)		(189,483	)
Total Andain, Inc.’s stockholders’ deficit		(292,684	)		(205,042	)
Non-controlling interest		—			(265,418	)

Total stockholders’ deficit		(292,684	)		(470,460	)

Total liabilities and stockholders’ deficit	$	493,613		$	524,057

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

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ANDAIN, INC.

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. Dollars)

(Unaudited)

	Six Months Ended June 30,						Three Months Ended June 30,						Period from July 23, 2004 (Date of Inception) Through June 30,
	2013			2012			2013			2012			2013
Revenues:
Government grants	$	—		$	—		$	—		$	—		$	682,690
Consulting income		63,767			76,246			30,872			31,597			629,399
Total revenue		63,767			76,246			30,872			31,597			1,312,089
Operating expenses:
General and administrative		(247,593	)		(113,949	)		(97,143	)		(35,923	)		(7,348,040	)
Research and development		(463,332	)		(352,576	)		(463,332	)		(65,376	)		(854,619	)
Loss on disposal of associate		—			—			—			—			(135,424	)
Impairment of goodwill		—			—			—			—			(412,699	)
Impairment loss		—			—			—			—			(177,729	)
Other income, net		—			—			—			—			251,175
Total operating expenses		(710,925	)		(466,525	)		(560,475	)		(101,299	)		(8,677,336	)
Operating loss		(647,158	)		(390,279	)		(529,603	)		(69,702	)		(7,365,247	)
Financial income, net		(20,009	)		(25,885	)		—			—			22,225
Net loss, including non-controlling interests		(667,167	)		(416,164	)		(549,612	)		(112,077	)		(7,350,280	)
Less: Net attributable to non-controlling interest		—			64,032			—			19,072			128,590
Net loss	$	(667,167	)	$	(352,132	)	$	(549,612	)	$	(93,005	)	$	(7,221,690	)

Loss per share – basic and diluted:
Net loss attributable to Andain Inc.	$	(0.01	)	$	(0.02	)	$	(0.01	)	$	(0.01	)
Weighted average number of shares outstanding		85,080,250			22,235,353			85,115,242			22,376,474

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

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ANDAIN, INC.

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. Dollars)

(Unaudited)

	Six Months Ended June 30,						Period from July 23, 2004 (Date of Inception) Through June 30,
	2013			2012			2013
Cash flows from operating activities:
Net (loss) attributable to Andain Inc.	$	(667,167	)	$	(352,132	)	$	(7,331,987	)
Adjustments to reconcile net (loss) to net cash (used in) operating activities:
Depreciation		—			7,804			50,915
Loss from acquisition of subsidiary		—			—			135,424
Impairment of goodwill		—			—			337,685
Impairment of loan		—			—			177,729
Minority interest		—			117,369			(128,286	)
Shares issued for professional services		93,782			—			1,358,463
Stock based compensation to key management		193,120			—			2,055,120
Contribution of services from shareholders		60,000			105,236			572,982
Changes in foreign exchange rates		(51.825	)		—			(248,014	)
Impairment of intangible assets		—			—			20,649
Changes in operating assets and liabilities:
Accounts payable		(39,782	)		(42,767	)		643,060
Accounts receivable		(90,090	)		(2,589	)		(604,674	)
Accrued compensation		180,000			180,000			2,442,693
Net cash provided by (used in) operating activities		(321,962	)		12,921			(338,331	)

Cash flows from investing activities:
Purchase of equipment		—			—			(70,548	)
Acquisition of patent		—			—			(20,649	)
Acquisition of subsidiary		—			—			(461,752	)
Net cash used in investing activities		—			—			(552,949	)

Cash flows from financing activities:
Proceeds from increase in bank overdrafts		—			—			3,448
Proceeds from stock issued for cash		180,000			—			1,038,978
Proceeds from other loans		—			—			(59,510	)
Loan from majority stockholder		(50,000	)		—			(65,754	)
Loans from key management personnel		182,442			—			(36,325	)
Net cash provided by financing activities		312,442			—			880,837

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ANDAIN, INC.

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. Dollars)

(Unaudited)

(continued)

	Six Months Ended June 30,					Period from July 23, 2004 (Date of Inception) Through June 30,
	2013			2012		2013

Increase (decrease) in cash and cash equivalents		—			12,921		(923	)
Cash and cash equivalents, beginning of period		—			872		—
Effects of exchange rate changes on balance of cash held in foreign currencies		—			475		923

Cash and cash equivalents, end of period	$	—		$	14,268	$	—

Non-cash investing and financing activities:
Issuance of common stock for purchase of intellectual property	$	—		$	—	$	4,500
Issuance of common stock for purchase of subsidiary	$	—		$	—	$	2,500
Issuance of common stock to directors in exchange for a loan	$	—		$	—	$	—
Subsidiaries sold to stockholder:
Working capital deficiency, excluding cash and cash equivalents	$	(70,786	)	$	—	$	(70,786	)
Property and equipment, net		24,808			—		24,808
Non-controlling interest		256,890			—		256,890
Accumulated other comprehensive loss		159,614			—		159,614
Profit from transactions with shareholder – recorded to additional paid in capital		(370,526	)		—		(370,526	)
	$	—		$	—	$	—
Additional acquisition of control in Meizam Arad Investments Ltd.:
Non-controlling interest	$	(8,528	)	$	—	$	(8,528	)
Loss from transactions with shareholder recorded to additional paid in capital		8,528			—		8,528
	$	—		$	—	$	—
Additional information:
Cash paid for income taxes	$	—		$	—	$	—
Cash paid for interest expense	$	—		$	—	$	—

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

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ANDAIN, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

THREE AND SIX MONTHS ENDED JUNE 30, 2013 AND 2012, AND

PERIOD OF JULY 23, 2004 (DATE OF INCEPTION) THROUGH JUNE 30, 2013

(U.S. Dollars)

(Unaudited)

NOTE 1 – GENERAL INFORMATION

Andain Inc. (“Company”) was established in 2004 in the State of Nevada, U.S.A. Since commencing operations in 2006, the Company has been engaged, both independently and through its consolidated entities (collectively, the “Group”), in the development of medical technology, from early stage development to advanced clinical trials, for a wide range of medical needs.

On May 14, 2013, the Company’s board of directors (with Sam Shlomo Elimelech, a director, recusing himself) decided to simplify the Company’s corporate structure by transferring all assets and technologies from its subsidiaries to the Company, and sell its subsidiaries with their accumulated losses to Mr. Elimelech, the Company’s president and CEO; the effective date of the transactions is January 1, 2013. Accordingly, the Company sold all its holdings in: Impact Active Team Ltd., TPDS Ltd., Meizam – Advanced Enterprise Center Arad Ltd., and Gaia Med Ltd. to Mr. Elimelech. Simultaneously with the sale of subsidiaries, the Company acquired an additional 7.5% interest in Meizam Arad Investments Ltd., which then became a wholly owned and the only subsidiary of the Company (the effective date of this transaction is also January 1, 2013).

On April 29, 2013 the Company entered into a Regulation S Stock Purchase Agreement with 1568934 Ontario Limited. Under this agreement, the purchaser purchased from the Company 21,316,000 restricted shares of common stock for a total consideration of $180,000. These shares were issued on June 27, 2013.

For the calendar year of 2013 the Company continues to use offices provided by 1568934 Ontario Limited, an affiliate of the Company, located in Beverly Hills, California. This office space is approximately 1,000 square feet; the Company pays 50,000 shares of restricted common stock each month for rent, electricity, telephones, and other expenses of the office. The Company is under an annual renewable lease of these offices. On June 27, 2013, the Company issued 600,000 restricted shares of common stock to 1568934 Ontario Limited under this arrangement as rent payment for the 2013 calendar year

On June 30, 2012, the Company’s board of directors agreed to re-issue restricted shares of common stock, which were issued previously based on agreements and board resolutions, and were returned to the Company’s treasury due to issuance errors:

· 2,720,000 shares to Sam Elimelech, the Company's President & CEO;

· 2,720,000 shares to Gai Mar-Chaim, the Company's Secretary & Treasurer;

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· 86,667 shares to Globex Transfer (the former transfer agent for the Company); and

· 122,648 shares to several consultants and shareholders.

On June 30, 2013, the Company took the following actions with regard to cancellation of certain shares of common stock:

· 1,500,000 shares to Otzarot Tarshish Nechasim Vehashkaott Ltd that were issued as a share-based payment for financial consulting services, but remained at the Company's treasury since these services have not been provided.

· 1,500,000 shares to Amir Uziel Economic Consultant Ltd., which were issued as a share-based payment for financial consulting services, but remained at the Company's treasury since these services have not been provided.

· 375,000 shares to AID Capital, which were issued as a share-based payment for financial consulting services, but these services have not been provided.

· 55,000 shares of common stock, which were issued based on Regulation S subscription agreements to private investors who did not remit the payment for these shares.

NOTE 2 – GOING CONCERN

The Company’s consolidated financial statements are prepared using generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not established any source of revenue to cover its operating costs. The Company has sustained operating losses and expects such losses to continue for the foreseeable future. The Company will engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer non-cash consideration as a mean of financing its operations. If the Company is unable to obtain revenue-producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations.

NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. While management believes that such estimates are fair when considered in conjunction with the consolidated financial position and results of operations taken as a whole, actual results could differ from those estimates and such differences may be material to the financial statements.

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Basis of Presentation.

The accompanying unaudited financial statements of the Company are presented in accordance with the requirements of Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to such U.S. Securities and Exchange Commission (“SEC”) rules and regulations. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been made. The results for these interim periods are not necessarily indicative of the results for the entire year. The accompanying financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2012 and the notes thereto included in the Company’s Report on Form 10-K filed with the SEC on May 13, 2013.

Functional and Reporting Currency.

The consolidated financial statements are presented in U.S. Dollars, which is the Company’s functional currency and presentation currency. The financial statements of entities that use a functional currency other than the U.S. Dollar are translated into U.S. Dollars. Assets and liabilities are translated using the exchange rate on the respective balance sheet dates. Items in the income statement and cash flow statement are translated into U.S. Dollars using the average rates of exchange for the periods involved. The resulting translation adjustments are recorded as a separate component of other comprehensive income/(loss) within stockholders’ equity.

The functional currency of foreign entities is generally the local currency unless the primary economic environment requires the use of another currency. Gains or losses arising from the translation or settlement of foreign-currency-denominated monetary assets and liabilities into the functional currency are recognized in the income in the period in which they arise. However, currency differences on intercompany loans that have the nature of a permanent investment are accounted for as translation differences as a separate component of other comprehensive income/(loss) within stockholders’ equity.

New Israeli Shekel (“NIS”) amounts as of June 30, 2013 have been translated into U.S. Dollars at the representative rate of exchange on June 30, 2013 (USD 1 = NIS 3.648).

Consolidation Principles.

The consolidated financial statements of the Company include the accounts of the Company, and all entities in which a direct or indirect controlling interest exists through voting rights or qualifying variable interests. All intercompany balances and transactions have been eliminated in the consolidated financial statements.

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Recently Issued Accounting Pronouncements.

1. ASC Topic 220, "Comprehensive Income"

Effective January 1, 2013, the Company adopted Accounting Standard Update (“ASU”) No. 2013-02, “Comprehensive Income (Topic 220) - Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income”. ASU 2013-02 requires an entity to provide information about amounts reclassified out of accumulated other comprehensive income.

According to ASU 2013-02, significant items that are required under U.S. GAAP to be reclassified to net income in their entirety shall be presented by the respective line items of net income either on the face of the financial statements or in the footnotes. Items that are not required under U.S. GAAP to be reclassified to net income in their entirety, will be required to be cross-referenced to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The standard became effective, prospectively, for interim and annual periods beginning after December 15, 2012.

The adoption of ASU 2013-02 did not have a material impact on the financial position or results of operations of the Company.

2. ASC Topic 210, “Balance Sheet”

Effective January 1, 2013, the Company adopted ASU 2011-11, “Balance Sheet (Topic 210) - Disclosures about Offsetting Assets and Liabilities”. ASU 2011-11 enhances disclosures about financial instruments and derivative instruments that are either offset in accordance with the Accounting Standards Codification or are subject to an enforceable master netting arrangement or similar agreement.

The amended guidance became effective, in a retrospective manner to all comparative periods presented, for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods.

The adoption of ASU 2011-11 did not have a material impact on the financial position or results of operations of the Company.

NOTE 4 – EVENTS DURING THE REPORTED PERIOD

A. On May 14, 2013, the Company’s board of directors (with Sam Shlomo Elimelech, a director, recusing himself) decided to simplify the Company’s corporate structure by transferring all assets and technologies from its subsidiaries to the Company, and sell its subsidiaries with their accumulated losses to Mr. Elimelech, the Company’s president and CEO; the effective date of the transactions is January 1, 2013. Accordingly, the Company sold all its holdings in: Impact Active Team Ltd., TPDS Ltd., Meizam – Advanced Enterprise Center Arad Ltd., and Gaia Med Ltd. to Mr. Elimelech. Simultaneously with the sale of subsidiaries, the Company acquired an additional 7.5% interest in Meizam Arad Investments Ltd., which then became a wholly owned and the only subsidiary of the Company (the effective date of this transaction is also January 1, 2013).

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These transactions are set forth below:

· On May 15, 2013, the Company’s subsidiary Meizam Arad Investments Ltd. (“Meizam Investments”) entered into an Acquisition Agreement with Meizam – Advanced Enterprise Center Arad Ltd. (“Meizam Arad”) to sell all of the shares of common stock held by Meizam Investments of the subsidiary Gaia-Med Ltd. to Meizam Arad. See Exhibit 10.26.

· On May 15, 2013, the Company’s subsidiary Meizam Investments entered into an Acquisition Agreement with Meizam Arad to sell all of the shares of common stock held by Meizam Investments of the subsidiary TPDS Ltd. to Meizam Arad. See Exhibit 10.27.

· On May 15, 2013, the Company entered into an Acquisition Agreement with Meizam Arad to sell all of the shares of common stock held by the Company of the subsidiary TPDS Ltd. to Meizam Arad. See Exhibit 10.28.

· On May 15, 2013, the Company entered into an Acquisition Agreement with Meizam Arad to sell all of the shares held by the Company of its subsidiary Impact Active Team Ltd. (“Impact Active”) to Meizam Arad. See Exhibit 10.29

· On May 15, 2013, the Company entered into an Acquisition Agreement with Mr. Elimelech to sell all of the shares of common stock held by the Company of its subsidiary Meizam Arad to Mr. Elimelech. See Exhibit 10.30.

· On May 15, 2013, the Company entered into an Acquisition Agreement with Mr. Mar-Chaim to sell all of the shares held by Mr. Mar-Chaim in the Company’s subsidiary Meizam Investments to the Company. See Exhibit 10.31.

· On May 15, 2013, the Company entered into an Acquisition Agreement with Mr. Elimelech to sell all of the shares held by Mr. Elimelech of its subsidiary Meizam Investments to the Company. See Exhibit 10.32.

· On May 15, 2013, the Company’s subsidiary Meizam Investments entered into an Acquisition Agreement with Mr. Elimelech to sell all of the shares held by Meizam Investments of the Company’s subsidiary Meizam Arad to Mr. Elimelech. See Exhibit 10.33

Working capital deficiency, excluding cash and cash equivalents	$	(70,786	)
Property and equipment, net		24,808
Non-controlling interest		256,890
Accumulated other comprehensive (loss)		159,614
Profit from transactions with stockholder – recorded to additional paid in capital		(370,526	)
	$	—

B. Simultaneously with the sale of subsidiaries, the Company acquired additional 7.5% in Meizam Arad Investments Ltd. for no additional cost from Mr. Elimelech. Meizam Arad Investments Ltd. became a wholly owned and the only subsidiary of the Company. The transaction was recorded to additional paid in capital, being a transaction with a stockholder. These transactions are set forth below:

· On May 15, 2013, the Company entered into an Acquisition Agreement with Mr. Elimelech to sell all of the shares held by Mr. Elimelech of its subsidiary Meizam Investments to the Company.

Additional acquisition of control in Meizam Arad Investments Ltd.:
Non-controlling interest	$	(8,528	)
Loss from transactions with stockholder recorded to additional paid in capital		8,528
	$	—

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NOTE 5 – STOCKHOLDERS’ EQUITY

On January 28, 2013, the Company issued a total of 400,000 free trading shares of common stock under the 2011 Stock and Option Plan in connection with the conversion of accounts payables for services provided in exchange of short-term liabilities accrued in prior years in the amount of $47,164.

On February 13, 2013 the Company engaged in a financial public relations services agreement with Investor Communications Services (a division of A.I.D. Capital, LLC.). According to the agreement 375,000 shares were issued for services to be provided in the six months period ending June 30, 2013 valued at $15,000. The Company recorded stock based compensation in the amount of $15,000 for the three months ended March 31, 2013.

When preparing the financial statements for the three months ended March 31, 2013, the Company discovered that the number of shares outstanding as of March 31, 2013 as disclosed on the front cover and under Item 12 of the recently in the recently filed Form 10-K were incorrectly noted as 57,669,242; the correct number is 57,479,928. This results in a very small changes in the percentages notes in the chart under Item 12: Gerald Fialkov 14.54%; Shlomo Elimelech: 38.74%; Gai Mar-Chaim: 38.72%; and all directors and executive officers: 76.59%.

NOTE 6 – RELATED PARTY TRANSACTIONS

Balances and transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this note. Details of transactions between the Group and other related parties are disclosed below.

The following entities have been identified as related parties of the Company as of March 31, 2013:

1568934 Ontario Limited		Greater than 10% stockholder
Sam Elimelech		Director and greater than 10% stockholder
Eran Elimelech		Son of Sam Elimelech
Gai Mar-Chaim		Director and greater than 10% stockholder
Meizam Arad Investments Ltd.		Wholly owned subsidiary
Impact Active Team Ltd.		Israeli company with common director
TPDS Ltd.		Israeli company with common director
Meizam - Advanced Enterprise Center Arad Ltd.		Israeli company with common director
Gaia Med Ltd.		Israeli company with common director
P.O.C. Hi Tech Ltd.		Israeli company with common director

The following transactions were carried out with related parties:

	For the six months ended June 30,
	2013		2012
Income statements:
Directors’ remuneration	$	180,000	$	180,000
Stock based compensation		193,120		—

Balance sheets:
Related party receivable (payable) - P.O.C. Hi Tech Ltd.		63,767		66,467
Long term payables – key management personnel ⁽¹⁾		362,150		166,904
Long term stockholder loans		127,000		127,000

(1) The annual compensation to key management personnel is $360,000 per year. During 2012 the Company recorded forgiveness of loans from key management personnel in the amount of $512,982. The amount was recorded as an equity transaction.

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NOTE 7 – SUBSEQUENT EVENTS

On July 15, 2013, the Company accepted the resignation of Yarel + Partners, the independent registered public accounting firm who was previously engaged as the principal accountant to audit the Company’s financial statements. The decision to accept this resignation was approved by the Company’s Board of Directors.

Effective on August 5, 2013, the Company appointed Fahn Kanne & Co. Grant Thornton (Israel), the Israeli member firm of Grant Thornton International Ltd., as the Company’s new independent registered public accounting firm to audit the Company’s financial statements.

NOTE 8 – PRIOR PERIOD ADJUSTMENTS

During the preparation of its June 30, 2012, the Company restated its financial statements for the three months ended March 31, 2012, to give retrospective effect to the elimination of the extraordinary gain on forgiveness of debt that was recognized in the unaudited consolidated statements as of March 31 2012. As of the date of this report settlement of $185,309 of the debt to the Company’s local legal counsel has not yet been closed, and the remaining $44,726 was reclassified to research and development expenses as follows:

	As Previously Reported			Prior Period Adjustments			As Restated


Extraordinary gain on forgiveness of debt	$	(230,126	)	$	230,126		$	—

Net loss	$	118,778		$	185,309		$	304,087

Net loss attributable to non-controlling interest	$	31,062		$	13,898		$	44,960

Net loss attributable to Andain, Inc. stockholders	$	87,716		$	171,411		$	259,127

Net loss per share (basic) attributable to Andain, Inc	$	0.00		$	(0.01	)	$	(0.01	)

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The following management’s discussion and analysis of financial condition and results of operations is based upon, and should be read in conjunction with, the Company’s unaudited financial statements and related notes included elsewhere in this Form 10-Q, which have been prepared in accordance with accounting principles generally accepted in the United States.

Overview.

(a) General Discussion.

The Company invests in commercialization of its technologies and products. The Company’s main efforts are to optimize development, engineering for production, regulation, pre-clinical and clinical trials and market penetration, respectfully, to each of its products. The Company is constantly working to enhance its products by new synergetic novel technologies keeping each of its products advantageous in its market.

The Company’s technological / industrial accelerating incubator specializes in utilization of the industrial infrastructure of companies that it works with, optimizing each product’s research and development and engineering development to the “best-in-the-market” product.

The Company’s team of experts manages all technological, medical, regulatory and other aspects needed to insure timely development, and market presence within the planed program and budget.

The Company operates five product lines:

·		Miniature insulin pump
·		Targeted drug delivery nano-particles
·		Stem cell therapy
·		Ultasonic catheter for brain cancer therapy
·		Peptide booster for anti-wrinkle cosmeceuticals

Miniature Disposable Insulin Pump.

The Company is committed to develop a fully disposable miniature insulin pump, suitable for diabetics type I and type II as well, without any government grant, saving the need to pay future royalties. The Company’s main challenge was to achieve production cost capable of competing with the low price of the insulin pen syringe injector for diabetes type II. The Company’s detailed market survey showed a significant advantage of such a product in the market, providing the comfort of a “band aid” patch size product, accurate as the expensive insulin pumps and preventing any hyper or hypo life threatening situations to the patient (stable blood glucose level superior to the syringe use).

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The Company’s team developed successfully the technology of the Gemini, a fully disposable pump, and lab tested all regulatory aspects of the Gemini pump, ready for the clinical trials initial production batch. During the first quarter of 2013, the Company’s team focused on technology transfer for GMP/GLP production, and Helsinky approval for clinical trials.

The Company estimates that the Gemini's efforts of development, regulatory affairs and manufacturing in order to complete the required clinical trials, will require a budget of $750,000. In addition we estimate that $600,000 will be required to introduce the innovative pump to the market and to large distributors.

Nano-particles Targeted Drug Delivery Technology.

The Company is also committed to develop its nano-particle technology with the capacity to accommodate hydrophobic (repelling water based molecules), as well as hydrophilic (attracting water based molecules) properties. These developments enable the Company to carry out GSK RELENZA (zanamivir) drug for swine flu (H1N1) therapy. The Company’s lab results show very stable nano-particle with over a six months shelf life capable of carrying hydrophobic and hydrophilic molecules with a high drug load, providing exceptional drug delivery efficiency. During the first quarter of 2013, the Company’s team mapped all intellectual properties used in developing the multi-task nano-particles to secure in its intellectual properties.

The Company estimates that the additional development, regulatory affairs and manufacturing in order to complete all required clinical trials, will require a budget of $1,100,000.

Stem Cell Therapy for Muscular Injuries.

The Company has completed successful animal studies with positive results on limb therapy. The initial animal studies showed very promising rehabilitating results. Based on these results, the Company has modified and accelerated its development program with two pillar technologies with strong intellectual properties: (i) Direct a stem cell to a myogenic (muscle) cell without any spontaneous direction into unhealthy cells such as cancer tumors; and (ii) mass produce the directed myogenic cells for patient treatment. As part of the of the development phase, the Company has developed a “harvesting” procedure of human fat tissue from the patient as a row material for extracting the stem cells, diverting and directing them to muscle cells, and reproducing them for an effective treatment. Currently, the Company is developing the upscale production process for commercial use.

The Company estimates that the additional development, regulatory affairs and manufacturing in order to complete all required pre-clinical trials, will require a budget of $650,000.

(b) Operations.

Insulin Pumps.

The Company separates its Gemini pump development in any aspect from the development of its Gaia Med Diamond semi-disposable pump. The Company has successfully managed to develop Gaia-Med’s technology and intellectual properties secured by patents, and develop new, separate intellectual properties for the Gemini pump. During 2012 the Company further developed and enhanced the Gemini patents. Those enhancements will be filed in second half of 2013. The Company’s development success of new and separate technology that is not based or relates in any aspect on Gaia-Med’s technology precludes the Company and its technological industrial incubator from any royalties payment for the Gemini product line. The Company and its technology incubator also continue developing the semi-disposable Gaia-Med pump within its original program. Therefore, the Company intends to establish a new business unit to accommodate all assets and operations of the Gemini pump as soon as this pump is ready for clinical trials batch production.

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Nano-Particles.

The Company separates its new development in any aspect from previous development performed in its former subsidiary TPDS Ltd.

The Company has successfully managed to develop new technology and intellectual properties to be secured by new patents, for the multi-tasking nano-particles, to be filed in after the completion of the Company's next financing round. The Company’s development success of new and separate technology that is not based or relates in any aspect to TPDS’ technology precludes the Company and its technological industrial incubator from any royalties payment for this product line. Currently, the Company and its incubator halted development of TPDS technology, and now develop only its new technology. The Company will revisit the original TPDS development program during 2013, according to the pre-clinical results of the new technology and product.

With the next financing round the Company intends to establish a new business unit to accommodate all assets and operations of the new nano-particle technology and development.

Stem Cell Therapy.

The Company intends to establish a new business unit to accommodate all assets and operations of the new stem cell technology and development of the project as soon as the clinical trials commence.

Results of Operations.

(a) Total Revenue.

The Company had total revenue of $30,872 for the three months ended June 30, 2013 compared to $31,597 for the three months ended June 30, 2012, a decrease of $725 or approximately 2%. The Company had total revenue of $63,767 for the six months ended June 30, 2013 compared to $76,246 for the six months ended June 30, 2012, a decrease of $12,479 or approximately 16%. The decrease in total revenue resulted primarily from decrease in consulting revenue.

The Company had total revenue of $1,312,089 for the period of June 23, 2004 (date of inception) through June 30, 2013.

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(b) Research and development Expenses.

The Company had research and development expenses of $463,332 for the three months ended June 30, 2013 compared to $65,376 for the three months ended June 30, 2012, an increase of $397,956 or approximately 608%. The Company had research and development expenses of $463,332 for the six months ended June 30, 2013 compared to $352,576 for the six months ended June 30, 2012, an increase of $110,756 or approximately 31%. The increases in research and development expenses were mainly due to increase in technological consulting.

The Company had research and development expenses of $854,619 for the period of June 23, 2004 (date of inception) through June 30, 2013.

(c) General and Administrative Expenses.

The Company had general and administrative expenses of $97,143 for the three months ended June 30, 2013 compared to $35,923 for the three months ended June 30, 2012, an increase of $61,220 or approximately 170%. The Company had general and administrative expenses of $247,593 for the six months ended June 30, 2013 compared to $113,949 for the six months ended June 30, 2012, an increase of $133,644 or approximately 117%. The increases in general and administrative expenses were mainly due to increase in professional services.

The Company had general and administrative expenses of $7,348,040 for the period of June 23, 2004 (date of inception) through June 30, 2013.

(d) Net Profit (Loss).

The Company had a net loss of $549,612 for the three months ended June 30, 2013 compared to a net loss of $93,005 for the three months ended June 30, 2013, an increase of $456,607 or approximately 491%. The Company had a net loss of $667,167 for the six months ended June 30, 2013 compared to a net loss of $352,132 for the six months ended June 30, 2013, an increase of $315,035 or approximately 89%. The increases in net loss is the result primarily from the Company’s corporate restructuring.

The Company had a net loss of $7,221,690 for the period of June 23, 2004 (date of inception) through June 30, 2013.

Operating Activities.

Net cash used by operating activities was $321,962 for the six months ended June 30, 2013 compared to net cash provided by operating activities of $12,291 for the six months ended June 30, 2012, a change of $334,883. This change was the result of the increase in the net loss.

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The net cash used in operating activities was $338,331 for the period of June 23, 2004 (date of inception) through June 30, 2013.

Investing Activities.

Net cash used in investing activities was $0 for the six months ended June 30, 2013 compared to $0 for the six months ended June 30, 2013.

Net cash used in investing activities was $552,949 for the period of June 23, 2004 (date of inception) through June 30, 2013.

Liquidity and Capital Resources.

As of June 30, 2013, the Company had total current assets of $109,017 and total current liabilities of $297,146 resulting in a working capital deficit of $188,129. The cash and cash equivalents was $0 as of June 30, 2013 compared to $0 as of December 31, 2012.

The net cash provided by financing activities was $312,442 for the six months ended June 30, 2013 compared to net cash provided by financing activities of $0 for the six months ended June 30, 2012. This increase is attributed to share issuance for cash and loans from key management in the six months ended June 30, 2013. Net cash provided by financing activities was $880,837 for the period of inception of June 23, 2004 (date of inception) through June 30, 2013.

The Company’s current cash and cash equivalents balance will not be sufficient to fund its operations for the next 12 months. The Company’s ability to continue as a going concern on a longer-term basis will be dependent upon its ability to generate sufficient cash flow from operations to meet its obligations on a timely basis, and to obtain additional financing, and ultimately attain profitability. The Company’s continued operations, as well as the implementation of the Company’s business plan will depend upon its ability to raise additional funds through bank borrowings and equity or debt financing.

Whereas the Company has been successful in the past in raising capital, no assurance can be given that these sources of financing will continue to be available to it and/or that demand for the Company’s common stock will be sufficient to meet its capital needs, or that financing will be available on terms favorable to the Company. If funding is insufficient at any time in the future, the Company may not be able to take advantage of business opportunities or respond to competitive pressures, or may be required to reduce the scope of the Company’s planned product development and marketing efforts, any of which could have a negative impact on its business and operating results. In addition, insufficient funding may have a material adverse effect on the Company’s financial condition, which could require it to:

·		curtail operations significantly;
·		sell significant assets;
·		seek arrangements with strategic partners or other parties that may require the Company to relinquish significant rights to products, technologies or markets; or
·		explore other strategic alternatives including a merger or sale of the Company.

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To the extent that the Company raises additional capital through the sale of equity or convertible debt securities, the issuance of such securities may result in dilution to the Company’s existing stockholders. If additional funds are raised through the issuance of debt securities, these securities may have rights, preferences and privileges senior to holders of common stock and the terms of such debt could impose restrictions on the Company’s operations. Regardless of whether the Company’s cash assets prove to be inadequate to meet its operational needs, the Company may seek to compensate providers of services by issuance of stock in lieu of cash, which may also result in dilution to the Company’s existing stockholders.

Inflation.

The impact of inflation on the Company’s costs and the ability to pass on cost increases to its customers over time is dependent upon market conditions. The Company is not aware of any inflationary pressures that have had any significant impact on its operations over the past quarter and the Company does not anticipate that inflationary factors will have a significant impact on future operations.

Off-Balance Sheet Arrangements.

The Company does not maintain off-balance sheet arrangements nor does it participate in non-exchange traded contracts requiring fair value accounting treatment.

Critical Accounting Policies.

The SEC has issued Financial Reporting Release No. 60, “Cautionary Advice Regarding Disclosure About Critical Accounting Policies” (“FRR 60”), suggesting companies provide additional disclosure and commentary on their most critical accounting policies. In FRR 60, the Commission has defined the most critical accounting policies as the ones that are most important to the portrayal of a company’s financial condition and operating results, and require management to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. Based on this definition, the Company’s most critical accounting policies include: (a) use of estimates; (b) impairment of long-lived assets; and (c) share-based compensation. The methods, estimates and judgments the Company uses in applying these most critical accounting policies have a significant impact on the results the Company reports in its financial statements.

(a) Use of Estimates.

The preparation of financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates these estimates, including those related to revenue recognition and concentration of credit risk. The Company bases its estimates on historical experience and on various other assumptions that is believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

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(b) Impairment Long-Lived Assets.

For purposes of recognition and measurement of an impairment loss, a long-lived asset or assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The Company assesses the impairment of long-lived assets (including identifiable intangible assets) annually or whenever events or changes in circumstances indicate that the carrying value may not be recoverable.

When management determines that the carrying value of long-lived assets may not be recoverable based upon the existence of one or more of the above indicators of impairment, we test for any impairment based on a projected undiscounted cash flow method. Projected future operating results and cash flows of the asset or asset group are used to establish the fair value used in evaluating the carrying value of long-lived and intangible assets. The Company estimates the future cash flows of the long-lived assets using current and long-term financial forecasts. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If this were the case, an impairment loss would be recognized. The impairment loss recognized is the amount by which the carrying amount exceeds the fair value.

(c) Revenue Recognition.

The Company recognizes revenue when all four recognition criteria have been met: persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, seller’s price to buyer is fixed or determinable, and collectability is reasonably assured.

(d) Share-Based Compensation.

The Company follows ASC Topic 718-10, “Stock Compensation,” which addresses accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions. Topic 718-10 requires measurement of the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. Upon the adoption of Topic ASC 718-10, the Company maintained its method of valuation for stock option awards using the Black-Scholes valuation model, which has historically been used for the purpose of providing pro-forma financial disclosures in accordance with Topic ASC 718-10.

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The use of the Black-Scholes valuation model to estimate the fair value of stock option awards requires the Company to make judgments and assumptions regarding the risk-free interest rate, expected dividend yield, expected term and expected volatility over the expected term of the award. The assumptions used in calculating the fair value of share-based payment awards represent management’s best estimates, but these estimates involve inherent uncertainties and the actual amount of expense could be materially different in the future.

Compensation expense is only recognized on awards that ultimately vest.

Forward Looking Statements.

Information in this Form 10-Q contains “forward looking statements” within the meaning of Rule 175 of the Securities Act of 1933, as amended, and Rule 3b-6 of the Securities Act of 1934, as amended. When used in this Form 10-Q, the words “expects,” “anticipates,” “believes,” “plans,” “will” and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements regarding the adequacy of cash, expectations regarding net losses and cash flow, statements regarding growth, the need for future financing, dependence on personnel, and operating expenses.

Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These forward-looking statements speak only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures.

The Company maintains disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in its periodic reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including the principal executive officer/principal financial officer, to allow timely decisions regarding required disclosure.

As of the end of the period covered by this report, the Company’s management carried out an evaluation, under the supervision and with the participation of the principal executive officer/principal financial officer, of disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act). Based upon the evaluation, the principal executive officer/principal financial officer concluded that the Company’s disclosure controls and procedures were effective at a reasonable assurance level to ensure that information required to be disclosed by it in the reports that the Company files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms. In addition, the principal executive officer/principal financial officer concluded that the Company’s disclosure controls and procedures were effective at a reasonable assurance level to ensure that information required to be disclosed in the reports that the Company files or submits under the Exchange Act is accumulated and communicated to the Company’s management, including the principal executive officer/principal financial officer, to allow timely decisions regarding required disclosure.

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Inherent Limitations of Control Systems.

Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, will be or have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, and/or by management override of the control. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, and/or the degree of compliance with the policies and procedures may deteriorate. Because of the inherent limitations in a cost-effective internal control system, misstatements due to error or fraud may occur and not be detected.

Changes in Internal Control Over Financial Reporting.

There have not been any changes in the Company’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the three months ended June 30, 2013 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

From time to time, the Company may become party to litigation or other legal proceedings that the Company considers to be a part of the ordinary course of the business. There are no material legal proceedings to report, except as outlined in the last Form 10-K. There are no changes to those legal proceedings as reported in that Form 10-K.

ITEM 1A. RISK FACTORS.

There have been no material changes in the risk factors as previously disclosed in response to Item 1A.of Part I of the Company’s latest Form 10-K.

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

There were no unregistered sales of the Company’s equity securities during the three months ended June 30, 2013 that were not previously reported by the Company.

There were no purchases of the Company’s common stock by the Company or its affiliates during the three months ended June 30, 2013.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

Not applicable.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

Subsequent Events.

ITEM 6. EXHIBITS.

Exhibits included or incorporated by reference herein are set forth in the Exhibit Index.

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EXHIBIT INDEX

Number		Description
3.1		Articles of Incorporation, dated July 14, 2004 (incorporated by reference to Exhibit 3.1 of the Form 10-SB filed on March 24, 2005).
3.2		Bylaws, dated August 1, 2004 (incorporated by reference to Exhibit 3.2 of the Form 10-SB filed on March 24, 2005).
4.1		Option issued to 1568934 Ontario Limited by the Company, dated January 14, 2011 (incorporated by reference to Exhibit 10.6 of the Form 8-K filed on March 29, 2011).
4.2		Employee Stock Option Plan, dated January 15, 2011 (incorporated by reference to Exhibit 4.2 of the Form 10-Q filed on November 21, 2011).
4.3		Stock Option Grant to Sam Elimelech, dated January 20, 2011 (incorporated by reference to Exhibit 4.3 of the Form 10-Q filed on November 21, 2011).
4.4		Stock Option Grant to Gai Mar-Chaim, dated January 20, 2011 (incorporated by reference to Exhibit 4.4 of the Form 10-Q filed on November 21, 2011).
4.5		2011 Stock and Option Plan, dated July 26, 2011 (incorporated by reference to Exhibit 4 of the Form S-8 filed on July 26, 2011).
10.1		Affiliation Agreement between the Impact Active Team Ltd. and P.O.C. High-Tech (1992) Ltd. Corporation, dated June 23, 2004 (incorporated by reference to Exhibit 10.8 of the Form SB-2 filed on February 13, 2007).
10.2		Consulting Agreement between the Company and Dr. Leonid Lurya, dated May 16, 2006 (incorporated by reference to Exhibit 10.2 of the Form 10-K filed on December 30, 2010).
10.3		Share Purchase Agreement between the Company and Pangea Investments GmbH, dated June 11, 2006 (not including Schedule 1, Disclosure Schedule) (incorporated by reference to Exhibit 10.1 of the Form 8-K filed on July 5, 2006).
10.4		Technology Purchase Agreement between the Company and Pangea Investments GmbH, dated June 11, 2006 (incorporated by reference to Exhibit 10.2 of the Form 8-K filed on July 5, 2006).
10.5		Finder’s Fee Agreement between the Company and Pangea Investments GmbH, dated June 11, 2006 (incorporated by reference to Exhibit 10.5 of the Form 8-K filed on July 5, 2006).
10.6		Consulting Agreement between the Company and Pangea Investments GmbH, dated July 3, 2006 (incorporated by reference to Exhibit 10.3 of the Form 8-K filed on July 5, 2006).
10.7		Business Development Services Agreement between the Company and Pangea Investments GmbH, dated July 3, 2006 (incorporated by reference to Exhibit 10.4 of the Form 8-K filed on July 5, 2006).
10.8		Employment Agreement between the Company and Sam Elimelech, dated July 3, 2006 (incorporated by reference to Exhibit 10.6 of the Form 8-K filed on July 5, 2006).
10.9		Employment Agreement between the Company and Gai Mar-Chaim, dated July 3, 2006 (incorporated by reference to Exhibit 10.7 of the Form 8-K filed on July 5, 2006).
10.10		Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated July 19, 2006 (incorporated by reference to Exhibit 10.11 of the Form 10-K/A filed on February 7, 2011).

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10.11		Consulting Agreement between the Company and Meizam - Advanced Enterprise Center Arad Ltd., dated October 25, 2006 (incorporated by reference to Exhibit 10.10 of the Form 10-K filed on December 30, 2010).
10.12		Employment Agreement between the Company and Sam Elimelech, dated January 1, 2011 (incorporated by reference to Exhibit 10.1 of the Form 8-K filed on March 29, 2011).
10.13		Employment Agreement between the Company and Gai Mar-Chaim, dated January 1, 2011 (incorporated by reference to Exhibit 10.2 of the Form 8-K filed on March 29, 2011).
10.14		Regulation S Stock Purchase Agreement between the Company and Sam Elimelech, dated January 5, 2011 (incorporated by reference to Exhibit 10.3 of the Form 8-K filed on March 29, 2011).
10.15		Regulation S Stock Purchase Agreement between the Company and Gai Mar-Chaim, dated January 5, 2011 (incorporated by reference to Exhibit 10.4 of the Form 8-K filed on March 29, 2011).
10.16		Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated January 14, 2011 (incorporated by reference to Exhibit 10.5 of the Form 8-K filed on March 29, 2011).
10.17		Stock Purchase Agreement between the Company and Meizam Arad Investments Ltd., dated January 31, 2011 (incorporated by reference to Exhibit 10.7 of the Form 8-K filed on March 29, 2011).
10.18		Stock Purchase Agreement between Meizam – Advanced Enterprise Center Arad Ltd and Meizam Arad Investments Ltd., dated January 31, 2011 (incorporated by reference to Exhibit 10.8 of the Form 8-K filed on March 29, 2011).
10.19		Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated May 24, 2011 (incorporated by reference to Exhibit 10 of the Form 8-K filed on July 19, 2011) (excluding Schedules 2.4, 2.7, and 2.10).
10.20		Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated July 29, 2011 (incorporated by reference to Exhibit 10 of the Form 8-K filed on August 16, 2011) (excluding Schedules 2.4, 2.7, and 2.10).
10.21		Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated December 26, 2011 (incorporated by reference to Exhibit 10 of the Form 8-K filed on February 6, 2012) (including Schedule 1.4 (Option to Purchase Shares of Common Stock) and Schedule 2.4 (Litigation); excluding Schedule 2.7).
10.22		Corporate Office Services Agreement between the Company and 1568934 Ontario Limited, dated January 5, 2012 (incorporated by reference to Exhibit 10.22 of the Form 10-Q filed on August 29, 2012).
10.23		Regulation S Stock Purchase Agreement between the Company and Eran Elimelech, dated July 29, 2012 (incorporated by reference to Exhibit 10.23 of the Form 10-Q filed on August 29, 2012).
10.24		Regulation S Stock Purchase Agreement between the Company and Sam Elimelech, dated July 29, 2012 ((incorporated by reference to Exhibit 10.24 of the Form 10-Q filed on November 19, 2012).
10.25		Regulation S Stock Purchase Agreement between the Company and Gai Mar-Chaim, dated July 29, 2012 ((incorporated by reference to Exhibit 10.25 of the Form 10-Q filed on November 19, 2012).
10.26		Acquisition Agreement between Meizam – Advanced Enterprise Center Arad Ltd. and Meizam Arad Investments Ltd. (Gaia Med Ltd.), dated May 15, 2013 (incorporated by reference to Exhibit 10.26 of the Form 10-Q filed on May 20, 2013).

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10.27		Acquisition Agreement between Meizam – Advanced Enterprise Center Arad Ltd. and Meizam Arad Investments Ltd. (TPDS Ltd.), dated May 15, 2013 (incorporated by reference to Exhibit 10.27 of the Form 10-Q filed on May 20, 2013).
10.28		Acquisition Agreement between Meizam – Advanced Enterprise Center Arad Ltd. and the Company (TPDS Ltd.), dated May 15, 2013 (incorporated by reference to Exhibit 10.28 of the Form 10-Q filed on May 20, 2013).
10.29		Acquisition Agreement between Meizam – Advanced Enterprise Center Arad Ltd. and the Company (Impact Active Team Ltd.), dated May 15, 2013 (incorporated by reference to Exhibit 10.29 of the Form 10-Q filed on May 20, 2013).
10.30		Acquisition Agreement between Sam Shlomo Elimelech and the Company (Meizam – Advanced Enterprise Center Arad Ltd.), dated May 15, 2013 (incorporated by reference to Exhibit 10.30 of the Form 10-Q filed on May 20, 2013).
10.31		Acquisition Agreement between the Company and Gai Mar-Chaim (Meizam Arad Investments Ltd.), dated May 15, 2013 (incorporated by reference to Exhibit 10.31 of the Form 10-Q filed on May 20, 2013).
10.32		Acquisition Agreement between the Company and Sam Shlomo Elimelech (Meizam Arad Investments Ltd.), dated May 15, 2013 (incorporated by reference to Exhibit 10.32 of the Form 10-Q filed on May 20, 2013).
10.33		Acquisition Agreement between Sam Shlomo Elimelech and Meizam Arad Investments Ltd. (Meizam – Advanced Enterprise Center Arad Ltd.), dated May 15, 2013 (incorporated by reference to Exhibit 10.33 of the Form 10-Q filed on May 20, 2013).
10.34		Regulation S Stock Purchase Agreement between the Company and 1568934 Ontario Limited, dated April 10, 2013 (including Schedule 1.3 (Option to Purchase of Shares of Common Stock)) (incorporated by reference to Exhibit 10 of the Form 8-K filed on June 21, 2013).
16.1		Letter on Change in Certifying Accountant (incorporated by reference to Exhibit 16 of the Form 8-K filed on January 5, 2006).
16.2		Letter on Change in Certifying Accountant (incorporated by reference to Exhibit 16 of the Form 8-K filed on November 5, 2010).
16.3		Letter on Change in Certifying Accountant (incorporated by reference to Exhibit 16 of the Form 8-K filed on July 24, 2012).
16.4		Letter on Change in Certifying Accountant (incorporated by reference to Exhibit 16 of the Form 8-K/A filed on August 13, 2013).
21		Subsidiaries of the Company (filed herewith).
23.1		Consent of Dov Weinstein & Co. C.P.A. (Isr) (incorporated by reference to Exhibit 23.1 of the Form 10-K filed on May 13, 2013).
23.2		Consent of Yarel + Partners, CPA (incorporated by reference to Exhibit 23.2 of the Form 10-K filed on May 13, 2013).
31.1		Rule 13a-14(a)/15d-14(a) Certification of Sam Shlomo Elimelech (filed herewith).
31.2		Rule 13a-14(a)/15d-14(a) Certification of Gai Mar-Chaim (filed herewith).
32		Section 1350 Certification of Sam Shlomo Elimelech and Gai Mar-Chaim (filed herewith).

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SIGNATURE

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

		Andain, Inc.

Dated:	August 19, 2013	By:	/s/ Sam Shlomo Elimelech
			Sam Shlomo Elimelech, President
			(Principal Executive Officer)

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ANDAIN, INC. 10-Q