UNITED ~~STATES~~ SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 June 30, 2009 [ ] Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period __________ to __________ Commission File Number: 000-52374 IB3 Networks, Inc. (Exact name of small business issuer as specified in its charter) Nevada 61-1433933 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 10 South High Street, Canal Winchester, Ohio, 43110 (Address of principal executive offices) (614) 833-9713 x235 (Issuer’s telephone number) ________________________________________________________ (Former name, former address and former fiscal year, if changed since last report) Check whether the issuer (1) 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 issuer 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 (§ 229.405 of this chapter) during the preceeding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [X] Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. [ ] Large accelerated filer Accelerated filer [ ] Non-accelerated filer [X] Smaller reporting company Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). [ ] Yes [X] No State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date 25,937,103 common shares as of August 13, 2009. Table of Contents TABLE OF CONTENTS Page PART I – FINANCIAL INFORMATION Item 1: Financial Statements 3 Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3: Quantitative and Qualitative Disclosures About Market Risk 7 Item 4T: Controls and Procedures 7 PART II – OTHER INFORMATION Item 1: Legal Proceedings 8 Item 1A: Risk Factors 8 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 8 Item 3: Defaults Upon Senior Securities 8 Item 4: Submission of Matters to a Vote of Security Holders 8 Item 5: Other Information 8 Item 6: Exhibits 8 2 Table of Contents PART I - FINANCIAL INFORMATION Item 1. Financial Statements Our consolidated financial statements included in this Form 10-Q are as follows: F-1 Consolidated Balance Sheets as of June 30, 2009 (unaudited) and December 31, 2008 (audited); F-2 Consolidated Statements of Operations for the three and six months ended June 30, 2009 and 2008; F-3 Consolidated Statements of Stockholders’ Equity (Deficit) for the period from December 31, 2007 to June 30, 2009; F-4 Consolidated Statements of Cash Flows for the six months ended June 30, 2009 and 2008; F-5 Notes to Consolidated Financial Statements; These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim period ended June 30, 2009 are not necessarily indicative of the results that can be expected for the full year. 3 Table of Contents IB3 NETWORKS, INC. (FKA LANGUAGE ACCESS NETWORK, INC.) Consolidated Balance Sheets June 30, 2009 December 31, 2008 (Unaudited) Assets Current Assets Cash and equivalents $ 7,960 $ 13,000 Accounts receivable, net 31,208 39,410 Inventory 1,230 8,673 Other current assets 27,884 3,193 Total Current Assets 68,282 64,276 Furniture and Equipment, net 36,990 36,474 Other Assets Deposits 45,088 - Goodwill 269,725 269,725 Total Other Assets 314,813 269,725 Total Assets $ 420,085 $ 370,475 Liabilities and Stockholders' Equity (Deficit) Current Liabilities Accounts payable and accrued expenses $ 1,068,051 $ 1,010,477 Payable-related party 173,386 40,741 Notes payable-short term 33,700 58,211 Client deposits 22,157 33,521 Total Current Liabilities 1,297,294 1,142,950 Long Term Liabilities Convertible notes payable 780,466 100,000 Total Liabilities 2,077,760 1,242,950 Stockholders' Equity (Deficit) Common stock: $0.001 par value; 100,000,000 shares authorized, 25,937,103 and 24,436,491 shares issued and outstanding at March 31, 2009 and December 31, 2008, respectively 25,937 24,436 Additional paid-in capital 14,753,330 14,034,678 Accumulated deficit (16,436,942) (14,931,589) Total stockholders' equity (deficit) (1,657,675) (872,475) Total Liabilities and Stockholders' Equity (Deficit) $ 420,085 $ 370,475 The accompanying notes are an integral part of these financial statements. F-1 Table of Contents IB3 NETWORKS, INC. (FKA LANGUAGE ACCESS NETWORK, INC.) Consolidated Statements of Operations (Unaudited) For the Three Months Ended June 30, 2009 For the Three Months Ended June 30, 2008 For the Six Months Ended June 30, 2009 For the Six Months Ended June 30, 2008 Net Revenue $ 294,917 $ 318,538 $ 562,207 $ 665,119 Cost of Goods Sold 151,801 197,272 306,813 428,343 Gross profit 143,116 121,266 255,394 236,776 Operating Expenses Depreciation and amortization 4,792 5,407 10,065 10,862 Selling, general and administrative 267,751 207,420 1,096,684 357,415 Total operating expenses 272,543 212,827 1,106,749 368,277 Operating Loss (129,427) (91,561) (851,355) (131,501) Other Income and Expenses Interest expense (17,968) (175,779) (27,615) (223,997) Other income (expense) 3,848 (52) 3,891 (52) Total other income and expenses (14,120) (175,831) (23,724) (224,049) Net loss before income taxes (143,547) (267,392) (875,079) (355,550) Income tax expense - - - - Discontinued Operations (630,274) - (630,274) 599,571 Net Income (Loss) $ (773,821) $ (267,392) $ (1,505,353) $ 244,021 Basic Earnings (Loss) Per Share Continuing operations $ (0.01) $ (0.01) $ (0.04) $ (0.01) Discontinued operations $ (0.03) $ - $ (0.03) $ 0.02 $ (0.03) $ (0.01) $ (0.06) $ 0.01 Weighted Average Common Shares Outstanding 25,186,797 41,547,980 24,873,658 34,734,444 The accompanying notes are an integral part of these financial statements. STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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 September 30, 2009

o	Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period __________ to __________

Commission File Number: 000-52374

IB3 Networks, Inc.

(Exact name of small business issuer as specified in its charter)

Nevada	61-1433933
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

10 South High Street, Canal Winchester, Ohio, 43110

(Address of principal executive offices)

(614) 833-9713 x235

(Issuer’s telephone number)

________________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

Check whether the issuer (1) 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 issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days

x Yes o 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 (§ 229.405 of this chapter) during the preceeding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes o No x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

o Large accelerated filer Accelerated filer	o Non-accelerated filer
x Smaller reporting company

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

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date 25,728,209 common shares as of October 5, 2009.

TABLE OF CONTENTS

		Page
PART I – FINANCIAL INFORMATION

Item 1:	Financial Statements	3
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	7
Item 4T:	Controls and Procedures	7

PART II – OTHER INFORMATION

Item 1:	Legal Proceedings	8
Item 1A:	Risk Factors	8
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds	8
Item 3:	Defaults Upon Senior Securities	8
Item 4:	Submission of Matters to a Vote of Security Holders	8
Item 5:	Other Information	8
Item 6:	Exhibits	8

Table of Contents

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Our consolidated financial statements included in this Form 10-Q are as follows:

F-1	Consolidated Balance Sheets as of September 30, 2009 (unaudited) and December 31, 2008 (audited);

F-2	Consolidated Statements of Operations for the three and nine months ended September 30, 2009 and 2008 (unaudited);

F-3	Consolidated Statements of Stockholders’ Equity (Deficit) for the period from December 31, 2007 to September 30, 2009 (unaudited);

F-4	Consolidated Statements of Cash Flows for the nine months ended September 30, 2009 and 2008 (unaudited);

F-5	Notes to Consolidated Financial Statements;

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim period ended September 30, 2009 are not necessarily indicative of the results that can be expected for the full year.

Table of Contents

IB3 NETWORKS, INC.

(FKA LANGUAGE ACCESS NETWORK, INC.)

Consolidated Balance Sheets

	September 30, 2009			December 31, 2008
	(Unaudited)			(Audited)
Assets
Current Assets
Cash and equivalents	$	1,674		$	13,000
Accounts receivable, net		32,164			39,410
Inventory		3,974			8,673
Other current assets		14,117			3,193
Total Current Assets		51,929			64,276
Furniture and Equipment, net		28,008			36,474
Other Assets
Goodwill		269,725			269,725
Total Other Assets		269,725			269,725
Total Assets	$	349,662		$	370,475
Liabilities and Stockholders' Equity (Deficit)
Current Liabilities
Accounts payable and accrued expenses	$	955,694		$	1,010,477
Bank overdraft		2,032			-
Payable-related party		388,652			40,741
Notes payable-short term		33,854			58,211
Client deposits		10,026			33,521
Total Current Liabilities		1,390,258			1,142,950
Long Term Liabilities
Convertible notes payable, net of discount of $37,500		755,466			100,000
Total Liabilities		2,145,724			1,242,950
Stockholders' Equity (Deficit)
Common stock: $0.001 par value; 100,000,000 shares authorized, 25,897,103 and 24,436,491 shares issued and outstanding at September 30, 2009 and December 31, 2008, respectively		25,897			24,436
Additional paid-in capital		14,793,370			14,034,678
Accumulated deficit		(16,615,329	)		(14,931,589	)
Total Stockholders' Equity (Deficit)		(1,796,062	)		(872,475	)
Total Liabilities and Stockholders' Equity (Deficit)	$	349,662		$	370,475

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

F-1

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IB3 NETWORKS, INC.

(FKA LANGUAGE ACCESS NETWORK, INC.)

Consolidated Statements of Operations

(Unaudited)

	For the Three Months Ended September 30, 2009			For the Three Months Ended September 30, 2008			For the Nine Months Ended September 30, 2009			For the Nine Months Ended September 30, 2008

Net Revenue	$	168,715		$	321,871		$	730,922		$	986,990
Cost of Goods Sold		112,036			181,071			418,849			609,414
Gross profit		56,679			140,800			312,073			377,576
Operating Expenses
Depreciation and amortization		4,325			5,250			14,390			16,112
Selling, general and administrative		189,974			95,835			1,286,658			453,250
Total operating expenses		194,299			101,085			1,301,048			469,362
Operating Loss		(137,620	)		39,715			(988,975	)		(91,786	)
Other Income and Expenses
Interest expense		(40,767	)		(22,341	)		(68,382	)		(246,338	)
Other income (expense)		-			-			3,891			(52	)
Total other income and expenses		(40,767	)		(22,341	)		(64,491	)		(246,390	)
Net loss before income taxes		(178,387	)		17,374			(1,053,466	)		(338,176	)
Income tax expense		-			-			-			-
Discontinued Operations		-			-			(630,274	)		599,571
Net Income (Loss)	$	(178,387	)	$	17,374		$	(1,683,740	)	$	261,395
Basic Earnings (Loss) Per Share
Continuing operations	$	(0.01	)	$	0.00		$	(0.04	)	$	(0.05	)
Discontinued operations	$	-		$	-		$	(0.03	)	$	0.10
	$	(0.01	)	$	0.00		$	(0.07	)	$	0.04
Weighted Average
Common Shares Outstanding		25,917,103			12,345,655			25,129,519			6,239,377

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

F-2

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IB3 NETWORKS, INC.

(FKA LANGUAGE ACCESS NETWORK, INC.)

Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited)

	~~Common Stock~~	Common Stock					~~Additional~~		~~Accumulated~~Additional		~~Total Stockholders'~~Accumulated			Total Stockholders'
	~~Shares~~	Shares	~~Amount~~			Amount	~~Paid-in Capital~~		~~Deficit~~Paid-in Capital		Deficit			Deficit
Balance, December 31, 2007		~~105,537~~	105,537	$	~~105~~	$	$105	~~12,739,114~~	$	~~(14~~12,~~972~~739,~~886)~~114	$	(214,~~233~~972,~~667)~~886	)	$	(2,233,667	)
Notes converted to common stock at $1.45 per share			55,125		55		55	~~79,945~~		-79,945		~~80,000~~-			80,000
Notes converted to common stock at $0.80 per share			333,280		~~333~~		333	~~268,417~~		-268,417		~~268,750~~-			268,750
Beneficial conversion feature		-	-		-		-	~~3,540~~		-3,540		~~3,540~~-			3,540
Shares issued for cash at $0.001 per share		~~5,300,000~~	5,300,000		~~5,300~~		5,300	-		-		~~5,300~~-			5,300
Notes converted to common stock at $0.05 per share			18,642,549		~~18,643~~		18,643	~~943,662~~		-943,662		~~962,305~~-			962,305
Net income for the year ended December 31, 2008		-	-		-		-	-		~~41,297~~-		41,297			41,297
Balance, December 31, 2008		~~24,436,491~~	24,436,491		~~24,436~~		24,436	~~14,034,678~~		(14,~~931~~034,~~589)~~678		(~~872~~14,~~475)~~931,589	)		(872,475	)
Shares issued for services at $0.55 per share (unaudited)			1,150,000		~~1,150~~		1,150	~~631,350~~		-631,350		~~632,500~~-			632,500
Shares issued for equipment at $0.25 per share (unaudited)			-		40		-	~~9,960~~		-		~~10,000~~-			-
Shares issued for services at $0.25 per share (unaudited)			121,500		~~122~~		122	~~30,253~~		-30,253		~~30,375~~-			30,375
Shares issued for services at $0.25 per share (unaudited)			129,112		~~129~~		129	~~32,149~~		-32,149		~~32,278~~-			32,278
Shares issued for cash at $0.25 per share (unaudited)			60,000		60		60	~~14,940~~		-14,940		~~15,000~~-			15,000
Net loss for the six months ended June 30, 2009 (unaudited)		-			-			-		(1,505,353)		(1,505,353)
Beneficial conversion feature			-				-			50,000		-			50,000
Balance, June 30, 2009 (unaudited)		25,937,103		$	25,937		$	14,753,330	$	(16,436,942)	$	(1,657,675)
Net loss for the nine months ended September 30, 2009 (unaudited)			-				-			-		(1,683,740	)		(1,683,740	)
Balance, September 30, 2009 (unaudited)			25,897,103			$	25,897		$	14,793,370	$	(16,615,329	)	$	(1,796,062	)

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

F-3

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IB3 NETWORKS, INC.

(FKA LANGUAGE ACCESS NETWORK, INC.)

Consolidated Statements of Cash Flows

(Unaudited)

	For the Six Months Ended June 30, 2009			For the Six Months Ended June 30, 2008
		For the Nine Months Ended September 30, 2009				For the Nine Months Ended September 30, 2008
OPERATING ACTIVITIES:
Net income (loss)	$	~~(875,079)~~$	(1,053,466	$)	~~244,021~~	$	261,395
Discontinued operations		~~(630,274)~~	(630,274	)	~~(488,071)~~		(488,071	)
Add back non-cash items:
Depreciation		~~10,065~~	14,390		~~10,862~~		16,112
Gain on sale of fixed assets		~~(3,891)~~	(3,891	)	52		52
Common stock issued for services		695,153			-
Amortization of discount on convertible debt			12,500				-
Adjustments to reconcile net loss to net cash used by operating activities:
Common stock issued for services			695,153				-
Change in accounts receivable		8,202			36,112
Adjustments to reconcile net loss to net cash used by operating activities:
Change in other assets		(17,248)			(7,824)
Change in accounts receivable			7,246				5,655
Change in accounts payable and accrued liabilities		55,074			100,567
Change in other assets			(6,225	)			(15,093	)
Change in other liabilities		(56,452)			116,106
Change in accounts payable and accrued liabilities			157,983				248,524
Net cash (used in) provided by operating activities		(814,450)			11,825
Change in other liabilities			(23,495	)			(22,850	)
INVESTING ACTIVITIES:
Net cash (used in) provided by operating activities			(830,079	)			5,724
Sale of fixed assets		5,860			149
INVESTING ACTIVITIES:
Purchase of fixed assets		(2,550)			-
Sale of fixed assets			5,860				149
Net cash provided by in investing activities		3,310			149
Purchase of fixed assets			(7,893	)			(1,249	)
FINANCING ACTIVITIES:
Net cash provided by in investing activities			(2,033	)			(1,100	)
Repayment of notes payable		(24,511)			(1,218)
FINANCING ACTIVITIES:
Cash proceeds from notes payable		680,466			5,000
Cash proceeds from common stock issued
Cash proceeds from sale of common stock		15,000			-
Repayment of notes payable			(24,357	)			(11,732	)
Proceeds from related party loans		132,645			-
Cash proceeds from notes payable			680,466				5,000
Accrued interest on notes payable		2,500			-
Cash proceeds from sale of common stock			15,000				5,300
Net cash provided by financing activities		806,100			3,782
Proceeds from related party loans			132,645				-
Net increase (decrease) in cash and cash equivalents		(5,040)			15,756
Stock offering costs paid
Cash and cash equivalents at beginning of the year		13,000			1,373
Proceeds from bank overdraft			2,032				-
Cash and cash equivalents at end of the year	$	7,960		$	17,129
Repayment of notes payable
SUPPLEMENTAL DISCLOSURE:
Accrued interest on notes payable			15,000				-
Cash paid during the year for interest	$	55,468		$	35,829
Net cash provided by financing activities			820,786				(1,432	)
Cash paid during the year for income taxes	$	-		$	-
Net increase (decrease) in cash and cash equivalents			(11,326	)			3,192
Non Cash Financing Activities
Cash and cash equivalents at beginning of the year			13,000				1,373
Common stock issued for convertible debt and accrued interest	$	-		$	348,750
Cash and cash equivalents at end of the year		$	1,674			$	4,565
Common stock issued for equipment	$	10,000		$	-
SUPPLEMENTAL DISCLOSURE:
Cash paid during the year for interest		$	60,878			$	48,359
Cash paid during the year for income taxes		$	-			$	-
Non Cash Financing Activities
Common stock issued for convertible debt and accrued interest		$	-			$	348,750
Common stock issued for services		$	695,153			$	-

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

F-4

Table of Contents

IB3 NETWORKS, INC.

(FKA LANGUAGE ACCESS NETWORK, INC.)

Condensed Notes to the Consolidated Financial Statements

~~June~~ September 30, 2009 ~~and December 31, 2009~~

NOTE 1 – CONSOLIDATED FINANCIAL STATEMENTS

The accompanying consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at ~~June~~September 30, 2009 and for all periods presented have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2008 audited financial statements. The results of operations for the ~~period~~periods ended September ~~June~~ 30, 2009 and 2008 are not necessarily indicative of the operating results for the full years.

NOTE 2 - GOING CONCERN

The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plans to obtain such resources for the Company include (1) obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses, and (2) seeking out and completing a merger with an existing operating company. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

F-5

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IB3 NETWORKS, INC.

(FKA LANGUAGE ACCESS NETWORK, INC.)

Condensed Notes to the Consolidated Financial Statements

~~June~~ September 30, 2009 ~~and December 31, 2009~~

NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Recent Accounting Pronouncements

In May 2009, the FASB issued FAS 165, “Subsequent Events”. This pronouncement establishes standards for accounting for and disclosing subsequent events (events which occur after the balance sheet date but before financial statements are issued or are available to be issued). FAS 165 requires and entity to disclose the date subsequent events were evaluated and whether that evaluation took place on the date financial statements were issued or were available to be issued. It is effective for interim and annual periods ending after June 15, 2009. The adoption of FAS 165 did not have a material impact on the Company’s financial condition or results of operation.

In June 2009, the FASB issued FAS 166, “Accounting for Transfers of Financial Assets” an amendment of FAS 140. FAS 140 is intended to improve the relevance, representational faithfulness, and comparability of the information that a reporting entity provides in its financial statements about a transfer of financial assets: the effects of a transfer on its financial position, financial performance , and cash flows: and a transferor’s continuing involvement, if any, in transferred financial assets. This statement must be applied as of the beginning of each reporting entity’s first annual reporting period that begins after November 15, 2009. The Company does not expect the adoption of FAS 166 to have an impact on the Company’s results of operations, financial condition or cash flows.

In June 2009, the FASB issued FAS 167, “Amendments to FASB Interpretation No. 46(R) ”. FAS 167 is intended to (1) address the effects on certain provisions of FASB Interpretation No. 46 (revised December 2003), Consolidation of Variable Interest Entities, as a result of the elimination of the qualifying special-purpose entity concept in FAS 166, and (2) constituent concerns about the application of certain key provisions of Interpretation 46(R), including those in which the accounting and disclosures under the Interpretation do not always provided timely and useful information about an enterprise’s involvement in a variable interest entity. This statement must be applied as of the beginning of each reporting entity’s first annual reporting period that begins after November 15, 2009. The Company does not expect the adoption of FAS 167 to have an impact on the Company’s results of operations, financial condition or cash flows.

In June 2009, the FASB issued FAS 168, “The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles”. FAS 168 will become the source of authoritative U.S. generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (SEC) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. On the effective date of this Statement, the Codification will supersede all then-existing non-SEC accounting and reporting standards. All other nongrandfathered non-SEC accounting literature not included in the Codification will become nonauthoritative. This statement is effective for financial statements issued for interim and annual periods ending after September 15, 2009.The Company does not expect the adoption of FAS 168 to have an impact on the Company’s results of operations, financial condition or cash flows.

F-6

Table of Contents

IB3 NETWORKS, INC.

(FKA LANGUAGE ACCESS NETWORK, INC.)

Condensed Notes to the Consolidated Financial Statements

~~June~~ September 30, 2009 ~~and December 31, 2009~~

NOTE 4 – CAPITAL STOCK

As of September ~~June~~ 30, 2009, the Company had 100,000,000 shares of common stock authorized and 25,~~937~~728,~~103~~209 issued and outstanding. During the six months ended ~~June~~September 30, 2009, the Company made the following issuances of common stock.

a) 160,~~150,~~000 shares issued for ~~services~~cash at $0.5525 per share in accordance with the PPM dated December 30, 2008.

b)NOTE ~~40,000~~5 ~~shares~~- RELATED ~~issued~~PARTY ~~for equipment at $0.25 per share~~TRANSACTIONS

c)Notes ~~250,612 shares issued for services at $0.25 per share~~Payable-Related Party

d)At September 6030,~~000~~ ~~shares~~2009, ~~issued~~the ~~for~~Company ~~cash~~had atnotes payable to a shareholder totaling $056,587.25 ~~per~~The ~~share~~notes inpayable ~~accordance~~are ~~with~~unsecured, ~~the~~accrue ~~PPM~~interest ~~dated~~at ~~December~~6% ~~30,~~per ~~2008~~annum and are due upon demand.

Accrued Salaries and Payroll Taxes

At September 30, 2009, the Company owes certain of its officers and directors $332,065 for accrued salaries and payroll taxes under the terms of their employment agreements.

F-7

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Item 2.

Management’s Discussion and Analysis or Plan of Operation

Forward-Looking Statements

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.

Overview

We are engaged in the businesses of our wholly-owned subsidiaries, iBeam Solutions, LLC (“iBeam”) and NYC Mags, Inc (“NYC Mags”). Through iBeam, a Microsoft ~~Gold~~ Certified Partner, we are engaged in delivering a variety of IT related solutions including scalable hosting solutions, managed hosting, dedicated hosting ~~and~~ and Co-location, IT infrastructure, virtual help desk, managed services, staff augmentation, design and implementation of networks, security and Internet monitoring, technical support, web development, application development, database development and support, and wireless solutions. We are also a Cisco Certified Select Partner, and are authorized resellers of most IT related hardware and software, including Dell, APC, IBM, HP, 3COM, and many others. ~~Through~~ iBeam ~~NYC~~Solutions ~~Mags,~~has weexperienced a ~~are~~decrease ~~engaged~~ in revenues due to the ~~development,~~current ~~promotion~~economic environment. As a direct result, ~~and~~we ~~operation~~have ofreduced our ~~online~~current ~~dating~~staff ~~social~~and ~~community~~reduced expenses to ~~MadisonAvenueMatch~~allow us to continue operations while we seek new customers and other revenue sources.~~com.~~

Through NYC Mags, we are engaged in the development, promotion, and operation of our online dating social community MadisonAvenueMatch.com. Due to the current economic environment, we have been unsuccessful in raising funding to complete the sites’ development as well as to launch of this online service. We continue to seek funding to permit us to proceed with this project. We have completed the initial design,received proposals and contracts to get the site operational.

Our principal executive offices are located at 10 South High Street, Canal Winchester, OH 43110. Our telephone number is (614) 833-9713.

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Results of Operations for the three months Ended ~~June~~September 30, 2009 and 2008

Revenues. Revenues are generated through sales. We reported sales of $~~294~~168,~~917~~715 for the three months ended ~~June~~September 30, 2009, compared with revenue of $~~318~~321,~~538~~871 for the same period ended ~~June~~September 30, 2008. We reported sales of $~~562~~730,~~207~~ 922 for the ~~six~~nine months ended ~~June~~ September 30, 2009, compared with revenue of $~~665~~986,~~119~~ 990 for the same period ended ~~June~~September 30, 2008. The decrease in revenues for both periods is attributable to poor economic conditions in the overall economy causing businesses to ~~cut~~reduce ~~back on~~ IT related projects and expenditures.

Our cost of goods sold for the three months ended ~~June~~September 30, 2009 was $~~151~~112,~~801~~ 036 resulting in gross profits of $~~143~~56,~~116~~679. Our cost of goods sold for the three months ended ~~June~~September 30, 2008 was $~~197~~181,~~272~~ 071 resulting in gross profits of $~~121~~140,~~266~~800. Our cost of goods sold for the ~~six~~nine months ended September ~~June~~ 30, 2009 was $~~306~~418,~~813~~849 resulting in gross profits of $~~255~~312,~~394~~073. Our cost of goods sold for the ~~six~~nine months ended ~~June~~September 30, 2008 was $~~428~~609,~~343~~ 414 resulting in gross profits of $~~236~~377,~~776~~576. WeOur ~~improved our~~ gross profit percentage has bydecreased ~~increasing~~due ~~the~~to ~~fees~~reduced weoverall ~~charged~~revenues ~~for~~and ~~our~~decreased ~~services~~sales due to current economic conditions.

Operating Expenses. Our operating expenses were $~~272~~194,~~543~~299 for the three months ended September ~~June~~ 30, 2009, compared to $~~212~~101,~~827for~~085 for the same reporting period ended September ~~June~~ 30, 2008. Our operating expenses were $1,~~106~~301,~~749~~048 for the ~~six~~nine months ended ~~June~~September 30, 2009, compared to $~~368~~469,~~277~~ 362 for the same reporting period ended ~~June~~September 30, 2008. The increase for the nine months was primarily the result of the issuance of common stock for services valued at $695,153.

Interest Expenses. We recorded interest expenses of $1740,~~968~~767 for the three months ended ~~June~~September 30, 2009, compared with $~~175~~22,~~779~~341 for the three months ended September ~~June~~ 30, 2008. We recorded interest expenses of $2768,~~615~~382 for the ~~six~~nine months ended ~~June~~September 30, 2009, compared with $~~223~~246,~~997~~ 338 for the ~~six~~nine months ended September ~~June~~ 30, 2008. Our interest expense decreased because we converted the majority of our convertible notes payable to common stock in 2008. We expect that our interest expense will decrease even further in 2009.

Discontinued Operations. On January 16, 2008, pursuant to an acquisition agreement between the Company and Interim Support, LLC, we sold Language Access Network, LLC. in exchange for the assumption of certain liabilities contained in the Acquisition Agreement. Accordingly, the assets, liabilities and operations of Language Access Network LLC are reclassified as discontinued operations in the accompanying financial statements. We recorded a loss of $~~630,274~~0 from discontinued operations for the three months ended ~~June~~September 30, 2009, compared to a $0 from discontinued operations for the same period ended ~~June~~September 30, 2008. We recorded a loss of $630,274 from discontinued operations for the ~~six~~nine months ended ~~June~~September 30, 2009, compared to a gain of $599,571 from discontinued operations for the same period ended ~~June~~September 30, 2008. The gain in the ~~six~~nine months ended ~~June~~September 30, 2008 is attributable to the disposal of Language Access Network, LLC.

Net Income (Loss). We reported a net loss of $~~773~~178,~~821~~387 or $(0.0301) per share for the three months ended ~~June~~September 30, 2009 compared with income of $~~267~~17,~~392~~ 374 or $0.0100 per share for the three months ended ~~June~~September 30, 2008. We reported a net loss of $1,~~505~~683,~~353~~740 or $(0.06 07) per share for the ~~six~~nine months ended ~~June~~September 30, 2009 compared with income of $~~244~~261,~~021~~395 or $0.0104 per share for the ~~six~~nine months ended ~~June~~September 30, 2008.

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Liquidity and Capital Resources

As of September ~~June~~ 30, 2009, we had total current assets of $6851,~~282~~929. As of ~~June~~September 30, 2009, we had total current liabilities of $1,~~297~~390,~~294~~258. We thus had a working capital deficit of $1,~~229~~338,~~012~~329 at ~~June~~September 30, 2009. As of September 30, 2009, we had total assets of $349,662. As of September 30, 2009 we had total liabilities of $2,145,724 resulting in a total stockholders deficit of $1,796,062.

Net cash used by operating activities was $~~814~~(830,~~450~~079) for the ~~six~~nine months ended ~~June~~ September 30, 2009 compared to net cash provided by operating activities of $115,~~825~~724 for the nine ~~six~~ months ended ~~June~~September 30, 2008. Net cash ~~provided~~used byin investing activities was $3(2,~~310~~033) for the ~~six~~nine months ended ~~June~~September 30, 2009, as compared with net cash used ~~provided~~ of $~~149~~(1,100) for the ~~six~~ nine months ended ~~June~~September 30, 2008. Net cash flow provided by financing activities amounted to $~~806~~820,~~100~~786 for the ~~six~~nine months ended September ~~June~~ 30, 2009, compared to net cash ~~provided~~used byin financing activities of $3(1,~~782~~432) for the same period ended ~~June~~September 30, 2008. During the nine ~~six~~ months ended ~~June~~September 30, 2009, the primary factors of our cash provided by financing activities was proceeds of notes payable of $680,466 and proceeds of related party loan of $132,645. During the ~~six~~nine months ended September ~~June~~ 30, 2008, the primary factor of our cash provided by financing activities was proceeds from notes payable of $5,000.

We anticipate that we will be dependent, for the immediate future, upon additional investment capital to fund operating expenses.

Going Concern

Off Balance Sheet Arrangements

As of September ~~June~~ 30, 2009, there were no off balance sheet arrangements.

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Item 3.

Quantitative and Qualitative Disclosures About Market Risk

A smaller reporting company is not required to provide the information required by this Item.

Item 4T.

Controls and Procedures

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of ~~June~~September 30, 2009. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, Eric Schmidt. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of ~~June~~September 30, 2009, our disclosure controls and procedures are effective. There have been no changes in our internal controls over financial reporting during the quarter ended ~~June~~September 30, 2009.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act are recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Limitations on the Effectiveness of Internal Controls

Our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material error. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving our objectives and our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective at that reasonable assurance level. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. 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, within the Company 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, or by management override of the internal 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, control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.

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PART II – OTHER INFORMATION

Item 1.

Legal Proceedings

Except as follows, we are not a party to any pending legal proceeding. We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting securities are adverse to us or have a material interest adverse to us.

On July 15, 2009, iBeam Solutions, LLC, our wholly owned subsidiary, commenced an action against Data Center 101, LLC in the Court of Common Pleas of Franklin County, Ohio for Negligent Misrepresentation, Common Law Fraud, Breach of Sublease Agreement and Declaratory Relief, requesting money damages and a declaration that a sublease agreement to lease 5,000 square feet of office space located on the third floor of the building at 101 East Town Street, Columbus, Ohio has been terminated and is of no further legal force or effect. At this time, we cannot make any evaluation of the outcome of this litigation. A proposal to settle this action was received from Data Center 101, LLC and is currently under evaluation by our board of directors.

On September 17, 2009, iB3 Networks, Inc. received a judgement against iB3 Networks, Inc. filed by Jeffrey D. Katz in the amount of $10,359.49 pursant to Mr. Katz’s claim for legal fees that resulted from the merger of NYC MAGS, Inc. In accordance with our agreement with NYC MAGS, Inc., legal fees were to be the responsibility of each party to the merger, and this expense for the other party’s legal fees was not to be the responsibility of iB3 Networks, Inc. This judgement was also made against Michael Jacobson, a board member of iB3 Networks, Inc., a shareholder of iB3 Networks, Inc., the seller of NYC MAGS, Inc. to iB3 Networks, Inc., and President of our NYC MAGS, Inc. wholly owned subsidiary, jointly and severably. Michael Jacobson has filed a motion to vacate the judgement against him, and that is pending before the court. iB3 Networks, Inc. filed a motion to vacate the judgement against it in District Court of Maryland for Montgomery County on October 9, 2009 based upon the agreement of merger agreement between the parties. As of 11/5/2009 we received paperwork that the motion on behalf of iB3 Networks has been denied. Consideration is being given to a possible appeal of this ruling, however the current judgement is in effect against iB3 Networks, Inc.. At this time, we cannot make any evaluation of the outcome of this potenial appeal.

Item 1A:

Risk Factors

A smaller reporting company is not required to provide the information required by this Item.

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

During the three months ended ~~June~~September 30, 2009, we issued ~~the~~no ~~following shares~~equity securities:

§ 129,112 shares of our common stock at $0.25 per share to officers and employees of our company for services rendered.

§ 60,000 shares issued for cash at $0.25 per share in accordance with the PPM dated December 30, 2008.

These shares were issued pursuant to Section 4(2) of the Securities Act of 1933, as amended.

Item 3.

Defaults upon Senior Securities

None

Item 4.

Submission of Matters to a Vote of Security Holders

No matters have been submitted to our security holders for a vote, through the solicitation of proxies or otherwise, during the quarterly period ended September ~~June~~ 30, 2009.

Item 5.

Other Information

None

Item 6.

Exhibits

Exhibit Number	Description of Exhibit
31.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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SIGNATURES

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

	IB3 NETWORKS, INC.
Date:	August 26, 2009
Date: November 11, 2009
	By: /s/ Eric Schmidt Eric Schmidt Title: Chief Executive Officer and Chief Financial Officer
	By:	/s/ Eric Schmidt
		Eric Schmidt
	Title:	Chief Executive Officer and Chief Financial Officer

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