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<td width="100%" align="right" valign="top"><div>Commission File No. ____________</div>
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<td width="100%" align="center" valign="top"><div>SECURITIES AND EXCHANGE COMMISSION</div>
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<td width="35%" valign="top"><div>&#160;</div>
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<td width="31%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>Washington, D.C. 20549</div>
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<td width="34%" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&#160;</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="46%" align="center" valign="top"><div>FORM S-8</div>
<div>REGISTRATION STATEMENT</div>
<div>Under</div>
<div>THE SECURITIES ACT OF 1933</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&#160;</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="46%" align="center" valign="top"><div>DIAMOND I, INC.</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="19%" valign="top"><div>&#160;</div>
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<td width="62%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>(Exact Name of registrant as specified in its charter)</div>
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<td width="19%" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&#160;</div>
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<td width="8%" align="center" valign="top"><div>&#160;</div>
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<td width="38%" align="center" valign="top"><div>Delaware</div>
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<td width="9%" align="center" valign="top"><div>&#160;</div>
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<td width="37%" align="center" valign="top"><div>01-0623010</div>
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<td width="8%" align="center" valign="top"><div>&#160;</div>
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<td width="8%" align="center" valign="top"><div>&#160;</div>
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<td width="38%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>(State or Other Jurisdiction of
incorporation or organization)</div>
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<td width="9%" align="center" valign="top"><div>&#160;</div>
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<td width="38%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>(I.R.S. Employer Identification
Number)</div>
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<td width="7%" align="center" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&#160;</div>
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<td width="8%" align="center" valign="top"><div>&#160;</div>
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<td width="38%" align="center" valign="top"><div>8733 Siegen Lane, Suite 309,
Baton Rouge, Louisiana</div>
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<td width="9%" align="center" valign="top"><div>&#160;</div>
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<td width="37%" align="center" valign="top"><br>
<div>70810</div>
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<td width="8%" align="center" valign="top"><div>&#160;</div>
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<td width="8%" align="center" valign="top"><div>&#160;</div>
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<td width="38%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>(Address of principal executive
office)</div>
</td>
<td width="9%" align="center" valign="top"><div>&#160;</div>
</td>
<td width="38%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>(Zip Code)</div>
</td>
<td width="7%" align="center" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&#160;</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="46%" align="center" valign="top"><div>2004 Stock Ownership Plan</div>
</td>
<td width="27%" valign="top"><div>&#160;</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="46%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>(Full Title of Plan)</div>
</td>
<td width="27%" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&#160;</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="46%" align="center" valign="top"><div>David Loflin, President and CEO</div>
<div>8733 Siegen Lane, Suite 309</div>
<div>Baton Rouge, Louisiana 70810</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="46%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>(Name and address of agent for service)</div>
</td>
<td width="27%" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&#160;</div>
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<td width="27%" valign="top"><div>&#160;</div>
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<td width="46%" align="center" valign="top"><div>(225) 341-4004</div>
</td>
<td width="27%" valign="top"><div>&#160;</div>
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<td width="15%" valign="top"><div>&#160;</div>
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<td width="69%" style="border-top: 0.0133333in solid" align="center" valign="top"><div>(Telephone number, including area code, of agent for service)</div>
</td>
<td width="16%" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&#160;</div>
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<td width="100%" valign="top"><div>&lt;PAGE&gt;</div>
</td>
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<td width="100%" valign="top"><div>&#160;</div>
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<div align="center">
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<td class="table25column1" width="23%" valign="top"><div>&#160;</div>
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<td class="table25column2" width="54%" align="center" valign="top"><div>CALCULATION OF REGISTRATION FEE</div>
</td>
<td class="table25column3" width="23%" valign="top"><div>&#160;</div>
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<td class="table26column1" width="17%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><br>
<div>Title of
securities</div>
<div>to be registered</div>
</td>
<td class="table26column2" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column3" width="24%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><br>
<br>
<div>Amount to be
registered(1)</div>
</td>
<td class="table26column4" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column5" width="18%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>Proposed
maximum
offering price</div>
<div>per share(2)</div>
</td>
<td class="table26column6" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column7" width="18%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>Proposed
maximum
aggregate</div>
<div>offering price(2)</div>
</td>
<td class="table26column8" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column9" width="19%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><br>
<div>Amount of</div>
<div>registration fee(3)</div>
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<td class="table26column1" width="17%" style="border-bottom: 0.0133333in solid" valign="top"><div>Common Stock</div>
</td>
<td class="table26column2" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column3" width="24%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>30,000,000 shares</div>
</td>
<td class="table26column4" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column5" width="18%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>$0.022</div>
</td>
<td class="table26column6" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column7" width="18%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>$660,000.00</div>
</td>
<td class="table26column8" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column9" width="19%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>$70.62</div>
</td>
</tr>
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<td class="table26column1" width="17%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>Total</div>
</td>
<td class="table26column2" width="1%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column3" width="24%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>30,000,000 shares</div>
</td>
<td class="table26column4" width="1%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column5" width="18%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column6" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column7" width="18%" align="center" valign="top"><div>$660,000.00</div>
</td>
<td class="table26column8" width="1%" align="center" valign="top"><div>&#160;</div>
</td>
<td class="table26column9" width="19%" align="center" valign="top"><div>$70.62</div>
</td>
</tr>
</table>
</div>
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<td width="8%" align="right" valign="top"><div>(1)</div>
</td>
<td width="92%" valign="top"><div>This Registration Statement shall also cover any additional shares of common stock which
become issuable under the Second Amended and Restated 2004 Stock Ownership Plan by
reason of any stock dividend, stock split, recapitalization or other similar transaction
effected without the Registrant&#8217;s receipt of consideration which results in an increase in
the number of outstanding shares of Registrant&#8217;s common stock.</div>
</td>
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<td width="8%" align="right" valign="top"><div>(2)</div>
</td>
<td width="92%" valign="top"><div>Estimated solely for the purpose of calculating the registration fee in accordance with Rule
457(c) and Rule 457(h) under the Securities Act of 1933, based on the average of the high
and low prices of the Registrant&#8217;s common stock as reported by the Over-the-Counter
Bulletin Board on February 14, 2007.</div>
</td>
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<td width="8%" align="right" valign="top"><div>(3)</div>
</td>
<td width="92%" valign="top"><div>Calculated pursuant to General Instruction E on Form S-8.</div>
</td>
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<td width="100%" valign="top"><div>&#160;</div>
</td>
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<td width="100%" align="center" valign="top"><div>EXPLANATORY NOTE</div>
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<td width="100%" valign="top"><div>This Registration Statement is being filed for the purpose of increasing the number of securities
of the same class as other securities for which a Registration Statement of the Registrant on Form
S-8 relating to the same employee benefit plan is effective.</div>
</td>
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</table>
<table width="100%" cellpadding="6" cellspacing="0">
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<td width="100%" valign="top"><div>The contents of the Registrant&#8217;s Registration Statements on Form S-8 filed with the Securities and
Exchange Commission on September 13, 2004 (File No. 333-118943) and March 30, 2006 (File
No. 333-132834), respectively, are hereby incorporated by reference.</div>
</td>
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<td width="100%" valign="top"><div>On September 13, 2004, Diamond I, Inc. (formerly AirRover Wi-Fi Corp.), a Delaware
corporation, filed a Registration Statement in accordance with the requirements of Form S-8 under
the Securities Act of 1933, as amended, to register 20,000,000 shares of its common stock which
had been authorized and reserved for issuance under the Registrant&#8217;s 2004 Stock Ownership Plan.
On March 30, 2006, Diamond I, Inc. filed a Registration Statement in accordance with the
requirements of Form S-8 under the Securities Act of 1933, as amended, to register an additional
32,500,000 shares of its common stock which had been authorized and reserved for issuance under
the Registrant&#8217;s First 2004 Stock Ownership Plan. This Registration Statement on Form S-8 is
being filed with the Securities and Exchange Commission to register an additional 30,000,000
shares of common stock pursuant to the Registrant&#8217;s Second Amended 2004 Stock Ownership
Plan.</div>
</td>
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<table width="100%" cellpadding="6" cellspacing="0">
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<td width="100%" valign="top"><div>&#160;</div>
</td>
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</table>
<table width="100%" cellpadding="6" cellspacing="0">
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<td width="13%" valign="top"><div>&#160;</div>
</td>
<td width="75%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>PART II</div>
</td>
<td width="12%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" align="center" valign="top"><div>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
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</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="12%" style="border-bottom: 0.0133333in solid" valign="top"><div>Item 3.</div>
</td>
<td width="88%" style="border-left: 0.0133333in solid; border-bottom: 0.0133333in solid" valign="top"><div>Incorporation of Documents by Reference.</div>
</td>
</tr>
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<td width="100%" valign="top"><div>The following documents are hereby incorporated by reference into this Registration
Statement:</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" align="right" valign="top"><div>1.</div>
</td>
<td width="92%" valign="top"><div>our Annual Report on Form 10-KSB for the year ended December 31, 2005, filed on
April 17, 2006;</div>
</td>
</tr>
</table>
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<td width="8%" align="right" valign="top"><div>2.</div>
</td>
<td width="92%" valign="top"><div>our Quarterly Report on Form 10-QSB/A for the quarter ended March 31, 2006, filed
on May 30, 2006;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" align="right" valign="top"><div>3.</div>
</td>
<td width="92%" valign="top"><div>our Quarterly Report on Form 10-QSB for the quarter ended June 30, 2006, filed on
August 21, 2006;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" align="right" valign="top"><div>4.</div>
</td>
<td width="92%" valign="top"><div>our Quarterly Report on Form 10-QSB for the quarter ended September 30, 2006, filed
on December 20, 2006;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" align="right" valign="top"><div>5.</div>
</td>
<td width="92%" valign="top"><div>our Current Report on Form 8-K/A, date of event, January 20, 2006, filed on March 23,
2006;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" align="right" valign="top"><div>6.</div>
</td>
<td width="92%" valign="top"><div>our Current Report on Form 8-K/A, date of event, May 17, 2006, filed on May 30,
2006; and</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" align="right" valign="top"><div>7.</div>
</td>
<td width="92%" valign="top"><div>our Current Report on Form 8-K, date of event, May 31, 2006, filed on June 2, 2006.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>In addition, all documents subsequently filed by Registrant pursuant to Sections 13(a), 13(c), 14
and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which de-registers all
securities then remaining unsold, shall be deemed to be incorporated by reference into this
Registration Statement and to be a part hereof from the date of filing such documents.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="12%" style="border-bottom: 0.0133333in solid" valign="top"><div>Item 4.</div>
</td>
<td width="88%" style="border-left: 0.0133333in solid; border-bottom: 0.0133333in solid" valign="top"><div>Description of Securities.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>Each share of our common stock entitles its holder to one vote on all matters to be voted upon by
shareholders. Subject to preferences that may apply to any outstanding shares of our preferred
stock, holders of our common stock will receive ratably any dividends our board of directors
declares out of funds legally available for that purpose. If we liquidate, dissolve or wind up our
affairs, the holders of our common stock are entitled to share ratably in all assets remaining after
payment of liabilities and any liquidation preference of any shares of our outstanding preferred
stock. Our common stock has no preemptive rights, conversion rights or other subscription rights
or redemption or sinking fund provisions.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="12%" style="border-bottom: 0.0133333in solid" valign="top"><div>Item 5.</div>
</td>
<td width="88%" style="border-left: 0.0133333in solid; border-bottom: 0.0133333in solid" valign="top"><div>Interests of Names Experts and Counsel.</div>
</td>
</tr>
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<table width="100%" cellpadding="6" cellspacing="0">
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<td width="100%" style="height: 0.68in" valign="top"><div>Newlan &amp; Newlan, Attorneys at Law, has passed upon the validity of the shares registered
pursuant to this Registration Statement.  The partners of the firm of Newlan &amp; Newlan own,
directly and indirectly, a total of 20,400,000 shares of our common stock.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="12%" style="border-bottom: 0.0133333in solid" valign="top"><div>Item 6.</div>
</td>
<td width="88%" style="border-left: 0.0133333in solid; border-bottom: 0.0133333in solid" valign="top"><div>Indemnification of Directors and Officers.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>As permitted by Section 145 of the Delaware General Corporation Law, the bylaws of the
registrant provide that (i) the registrant is required to indemnify its directors and executive officers
to the fullest extent not prohibited by the Delaware General Corporation Law, (ii) the registrant
may, in its discretion, indemnify its other officers, employees and agents as set forth in the
Delaware General Corporation Law, (iii) the registrant is required to advance all expenses incurred
by its directors and executive officers in connection with certain legal proceedings, (iv) the rights
conferred in the bylaws are not exclusive, and (v) the registrant is authorized to enter into
indemnification agreements with its directors, officers, employees and agents.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
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<td width="100%" valign="top"><div>The registrant has entered into agreements with its directors and executive officers that require
the registrant to indemnify such persons against expenses, judgments, fines, settlements, and other
amounts that any such person becomes legally obligated to pay (including with respect to a
derivative action) in connection with any proceeding, whether actual or threatened, to which such
person may be made a party by reason of the fact that such person is or was a director or officer
of the registrant or any of its affiliates, provided such person acted in good faith and in a manner
such person reasonably believed to be in, or not opposed to, the best interests of the registrant. The
indemnification agreements also set forth certain procedures that will apply in the event of a claim
for indemnification thereunder. At present, no litigation or proceeding is pending that involves
a director or officer of the registrant regarding which indemnification is sought, nor is the
registrant aware of any threatened litigation that may result in claims for indemnification.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
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<td width="100%" valign="top"><div>Registrant has purchased no insurance for indemnification of its officers and directors, agents, etc.,
nor has there been any specific agreement for indemnification made between Registrant and any
of its officers and directors, or others, with respect to indemnification for them arising out of their
duties to Registrant.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>Insofar as indemnification for liabilities arising under the Securities Act may be permitted for our
directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, we
have been advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the
payment by us for expenses incurred or paid by a director, officer or controlling person in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, we will, unless in the opinion
of our counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether our indemnification is against public policy as
expressed in the Securities Act and will be governed by the final adjudication of the issue by the
court.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended, may
be permitted to directors, officers or control persons pursuant to the foregoing provisions, we have
been informed that, in the opinion of the SEC, such indemnification is against public policy as
expressed in the Securities Act of 1933 and is, therefore, unenforceable.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="12%" style="border-bottom: 0.0133333in solid" valign="top"><div>Item 7.</div>
</td>
<td width="88%" style="border-left: 0.0133333in solid; border-bottom: 0.0133333in solid" valign="top"><div>Exemption from Registration Claimed.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>Not applicable.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="12%" style="border-bottom: 0.0133333in solid" valign="top"><div>Item 8.</div>
</td>
<td width="88%" style="border-left: 0.0133333in solid; border-bottom: 0.0133333in solid" valign="top"><div>Exhibits.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" valign="top"><div>&#160;</div>
</td>
<td width="15%" style="border-bottom: 0.0133333in solid" valign="top"><div>Exhibit No.</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="73%" style="border-bottom: 0.0133333in solid" align="center" valign="top"><div>Description</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" valign="top"><div>&#160;</div>
</td>
<td width="15%" align="center" valign="top"><div>5.1</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="73%" valign="top"><div>Legal Opinion of Newlan &amp; Newlan, Attorneys at Law.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" valign="top"><div>&#160;</div>
</td>
<td width="15%" align="center" valign="top"><div>10.1</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="73%" valign="top"><div>Registrant&#8217;s Second Amended and Restated 2004 Stock Ownership
Plan.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" valign="top"><div>&#160;</div>
</td>
<td width="15%" align="center" valign="top"><div>23.1</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="73%" valign="top"><div>Consent of Malone &amp; Bailey, P.C.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="12%" style="border-bottom: 0.0133333in solid" valign="top"><div>Item 9.</div>
</td>
<td width="88%" style="border-left: 0.0133333in solid; border-bottom: 0.0133333in solid" valign="top"><div>Undertakings.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" align="right" valign="top"><div>(a)</div>
</td>
<td width="92%" valign="top"><div>The undersigned Registrant hereby undertakes (1) to file, during any period in which
offers or sales are being made, a post-effective amendment to this registration statement
to include any additional or changed material information on the plan of distribution; (2)
that, for the purpose of determining liability under the Securities Act, treat each
post-effective amendment as a new registration statement of the securities offered, and the
offering of the securities at that time to be the initial bona fide offering; (3) file a
post-effective amendment to remove from registration any of the securities that remain
unsold at the end of the offering.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="8%" align="right" valign="top"><div>(b)</div>
</td>
<td width="92%" valign="top"><div>Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of
expenses incurred or paid by a director, officer, or controlling person of the Registrant in
the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and will be
governed by the final adjudication of such issue.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td class="table75column1" width="100%" style="border-left: none; border-right: none; border-top: 0.0266667in solid; border-bottom: 0.0266667in solid" align="center" valign="top"><div>SIGNATURES</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this S-8 Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Baton Rouge, State of Louisiana, on the 15th day of
February, 2007.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="46%" valign="top"><div>&#160;</div>
</td>
<td width="54%" valign="top"><div>DIAMOND I, INC.</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="46%" valign="top"><div>&#160;</div>
</td>
<td width="6%" align="right" valign="top"><div>By:</div>
</td>
<td width="38%" style="border-bottom: 0.0133333in solid" valign="top"><div>/s/ DAVID LOFLIN</div>
</td>
<td width="10%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="52%" valign="top"><div>&#160;</div>
</td>
<td width="27%" valign="top"><div>David Loflin, President</div>
</td>
<td width="21%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement on Form S-8 has been signed by the following persons in the capacities and on the
dates included:</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="38%" valign="top"><div>&#160;</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>&#160;</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>&#160;</div>
</td>
</tr>
<tr>
<td width="38%" style="border-bottom: 0.0133333in solid" valign="top"><div>/s/ DAVID LOFLIN</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>&#160;</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>February 15,
2007</div>
</td>
</tr>
<tr>
<td width="38%" valign="top"><div>David Loflin</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>President (principal executive
officer), Acting Chief
Accounting Officer (principal
financial officer) and Director</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="38%" style="border-bottom: 0.0133333in solid" valign="top"><div>/s/ WADDELL D. LOFLIN</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>&#160;</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>February 15,
2007</div>
</td>
</tr>
<tr>
<td width="38%" valign="top"><div>Waddell D. Loflin</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>Vice President, Secretary and
Director</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="38%" style="border-bottom: 0.0133333in solid" valign="top"><div>/s/ GREGORY A. BONNER</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>&#160;</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>February 15,
2007</div>
</td>
</tr>
<tr>
<td width="38%" valign="top"><div>Gregory A. Bonner</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>Director</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="100%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
<table width="100%" cellpadding="6" cellspacing="0">
<tr>
<td width="38%" style="border-bottom: 0.0133333in solid" valign="top"><div>&#160;</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>&#160;</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>February ___,
2007</div>
</td>
</tr>
<tr>
<td width="38%" valign="top"><div>Ira R. Witkin</div>
</td>
<td width="2%" valign="top"><div>&#160;</div>
</td>
<td width="35%" valign="top"><div>Director</div>
</td>
<td width="4%" valign="top"><div>&#160;</div>
</td>
<td width="21%" valign="top"><div>&#160;</div>
</td>
</tr>
</table>
</body>

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{"company-data": {"conformed-name": "Diamond I, Inc.", "cik": "0000828940", "assigned-sic": "7374", "irs-number": "010623010", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-140799", "film-number": "07636432"}, "business-address": {"street1": "8733 SIEGEN LANE", "street2": "SUITE 309", "city": "BATON ROUGE", "state": "LA", "zip": "70810", "phone": "225-923-1034"}, "mail-address": {"street1": "8733 SIEGEN LANE", "street2": "SUITE 309", "city": "BATON ROUGE", "state": "LA", "zip": "70810"}, "former-company": [{"former-conformed-name": "AirRover Wi-Fi Corp.", "date-changed": "20040525"}, {"former-conformed-name": "AIR-Q WI-FI CORP", "date-changed": "20030820"}, {"former-conformed-name": "COVENANT FINANCIAL CORP", "date-changed": "20020507"}]}
Commission File No. ____________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
DIAMOND I, INC.
(Exact Name of registrant as specified in its charter)
Delaware
01-0623010
(State or Other Jurisdiction of
incorporation or organization)
(I.R.S. Employer Identification
Number)
8733 Siegen Lane, Suite 309,
Baton Rouge, Louisiana
70810
(Address of principal executive
office)
(Zip Code)
2004 Stock Ownership Plan
(Full Title of Plan)
David Loflin, President and CEO
8733 Siegen Lane, Suite 309
Baton Rouge, Louisiana 70810
(Name and address of agent for service)
(225) 341-4004
(Telephone number, including area code, of agent for service)
<PAGE>
CALCULATION OF REGISTRATION FEE
Title of
securities
to be registered
Amount to be
registered(1)
Proposed
maximum
offering price
per share(2)
Proposed
maximum
aggregate
offering price(2)
Amount of
registration fee(3)
Common Stock
30,000,000 shares
$0.022
$660,000.00
$70.62
Total
30,000,000 shares
$660,000.00
$70.62
(1)
This Registration Statement shall also cover any additional shares of common stock which
become issuable under the Second Amended and Restated 2004 Stock Ownership Plan by
reason of any stock dividend, stock split, recapitalization or other similar transaction
effected without the Registrant's receipt of consideration which results in an increase in
the number of outstanding shares of Registrant's common stock.
(2)
Estimated solely for the purpose of calculating the registration fee in accordance with Rule
457(c) and Rule 457(h) under the Securities Act of 1933, based on the average of the high
and low prices of the Registrant's common stock as reported by the Over-the-Counter
Bulletin Board on February 14, 2007.
(3)
Calculated pursuant to General Instruction E on Form S-8.
EXPLANATORY NOTE
This Registration Statement is being filed for the purpose of increasing the number of securities
of the same class as other securities for which a Registration Statement of the Registrant on Form
S-8 relating to the same employee benefit plan is effective.
The contents of the Registrant's Registration Statements on Form S-8 filed with the Securities and
Exchange Commission on September 13, 2004 (File No. 333-118943) and March 30, 2006 (File
No. 333-132834), respectively, are hereby incorporated by reference.
On September 13, 2004, Diamond I, Inc. (formerly AirRover Wi-Fi Corp.), a Delaware
corporation, filed a Registration Statement in accordance with the requirements of Form S-8 under
the Securities Act of 1933, as amended, to register 20,000,000 shares of its common stock which
had been authorized and reserved for issuance under the Registrant's 2004 Stock Ownership Plan.
On March 30, 2006, Diamond I, Inc. filed a Registration Statement in accordance with the
requirements of Form S-8 under the Securities Act of 1933, as amended, to register an additional
32,500,000 shares of its common stock which had been authorized and reserved for issuance under
the Registrant's First 2004 Stock Ownership Plan. This Registration Statement on Form S-8 is
being filed with the Securities and Exchange Commission to register an additional 30,000,000
shares of common stock pursuant to the Registrant's Second Amended 2004 Stock Ownership
Plan.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents are hereby incorporated by reference into this Registration
Statement:
1.
our Annual Report on Form 10-KSB for the year ended December 31, 2005, filed on
April 17, 2006;
2.
our Quarterly Report on Form 10-QSB/A for the quarter ended March 31, 2006, filed
on May 30, 2006;
3.
our Quarterly Report on Form 10-QSB for the quarter ended June 30, 2006, filed on
August 21, 2006;
4.
our Quarterly Report on Form 10-QSB for the quarter ended September 30, 2006, filed
on December 20, 2006;
5.
our Current Report on Form 8-K/A, date of event, January 20, 2006, filed on March 23,
2006;
6.
our Current Report on Form 8-K/A, date of event, May 17, 2006, filed on May 30,
2006; and
7.
our Current Report on Form 8-K, date of event, May 31, 2006, filed on June 2, 2006.
In addition, all documents subsequently filed by Registrant pursuant to Sections 13(a), 13(c), 14
and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which de-registers all
securities then remaining unsold, shall be deemed to be incorporated by reference into this
Registration Statement and to be a part hereof from the date of filing such documents.
Item 4.
Description of Securities.
Each share of our common stock entitles its holder to one vote on all matters to be voted upon by
shareholders. Subject to preferences that may apply to any outstanding shares of our preferred
stock, holders of our common stock will receive ratably any dividends our board of directors
declares out of funds legally available for that purpose. If we liquidate, dissolve or wind up our
affairs, the holders of our common stock are entitled to share ratably in all assets remaining after
payment of liabilities and any liquidation preference of any shares of our outstanding preferred
stock. Our common stock has no preemptive rights, conversion rights or other subscription rights
or redemption or sinking fund provisions.
Item 5.
Interests of Names Experts and Counsel.
Newlan & Newlan, Attorneys at Law, has passed upon the validity of the shares registered
pursuant to this Registration Statement.  The partners of the firm of Newlan & Newlan own,
directly and indirectly, a total of 20,400,000 shares of our common stock.
Item 6.
Indemnification of Directors and Officers.
As permitted by Section 145 of the Delaware General Corporation Law, the bylaws of the
registrant provide that (i) the registrant is required to indemnify its directors and executive officers
to the fullest extent not prohibited by the Delaware General Corporation Law, (ii) the registrant
may, in its discretion, indemnify its other officers, employees and agents as set forth in the
Delaware General Corporation Law, (iii) the registrant is required to advance all expenses incurred
by its directors and executive officers in connection with certain legal proceedings, (iv) the rights
conferred in the bylaws are not exclusive, and (v) the registrant is authorized to enter into
indemnification agreements with its directors, officers, employees and agents.
The registrant has entered into agreements with its directors and executive officers that require
the registrant to indemnify such persons against expenses, judgments, fines, settlements, and other
amounts that any such person becomes legally obligated to pay (including with respect to a
derivative action) in connection with any proceeding, whether actual or threatened, to which such
person may be made a party by reason of the fact that such person is or was a director or officer
of the registrant or any of its affiliates, provided such person acted in good faith and in a manner
such person reasonably believed to be in, or not opposed to, the best interests of the registrant. The
indemnification agreements also set forth certain procedures that will apply in the event of a claim
for indemnification thereunder. At present, no litigation or proceeding is pending that involves
a director or officer of the registrant regarding which indemnification is sought, nor is the
registrant aware of any threatened litigation that may result in claims for indemnification.
Registrant has purchased no insurance for indemnification of its officers and directors, agents, etc.,
nor has there been any specific agreement for indemnification made between Registrant and any
of its officers and directors, or others, with respect to indemnification for them arising out of their
duties to Registrant.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted for our
directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, we
have been advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the
payment by us for expenses incurred or paid by a director, officer or controlling person in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, we will, unless in the opinion
of our counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether our indemnification is against public policy as
expressed in the Securities Act and will be governed by the final adjudication of the issue by the
court.
Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended, may
be permitted to directors, officers or control persons pursuant to the foregoing provisions, we have
been informed that, in the opinion of the SEC, such indemnification is against public policy as
expressed in the Securities Act of 1933 and is, therefore, unenforceable.
Item 7.
Exemption from Registration Claimed.
Not applicable.
Item 8.
Exhibits.
Exhibit No.
Description
5.1
Legal Opinion of Newlan & Newlan, Attorneys at Law.
10.1
Registrant's Second Amended and Restated 2004 Stock Ownership
Plan.
23.1
Consent of Malone & Bailey, P.C.
Item 9.
Undertakings.
(a)
The undersigned Registrant hereby undertakes (1) to file, during any period in which
offers or sales are being made, a post-effective amendment to this registration statement
to include any additional or changed material information on the plan of distribution; (2)
that, for the purpose of determining liability under the Securities Act, treat each
post-effective amendment as a new registration statement of the securities offered, and the
offering of the securities at that time to be the initial bona fide offering; (3) file a
post-effective amendment to remove from registration any of the securities that remain
unsold at the end of the offering.
(b)
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of
expenses incurred or paid by a director, officer, or controlling person of the Registrant in
the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and will be
governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this S-8 Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Baton Rouge, State of Louisiana, on the 15th day of
February, 2007.
DIAMOND I, INC.
By:
/s/ DAVID LOFLIN
David Loflin, President
Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement on Form S-8 has been signed by the following persons in the capacities and on the
dates included:
/s/ DAVID LOFLIN
February 15,
2007
David Loflin
President (principal executive
officer), Acting Chief
Accounting Officer (principal
financial officer) and Director
/s/ WADDELL D. LOFLIN
February 15,
2007
Waddell D. Loflin
Vice President, Secretary and
Director
/s/ GREGORY A. BONNER
February 15,
2007
Gregory A. Bonner
Director
February ___,
2007
Ira R. Witkin
Director