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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
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      D.C. 20549</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act 1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (date of earliest event reported): March 21, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><strong>NEW
      DRAGON ASIA CORP.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      name of registrant as specified in charter)</font></div>
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                Employer</font></div>
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                No.)</font></div>
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      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">86
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      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of registrant under any of the following
      provisions:</font></div>
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      ]&#160;&#160;&#160;&#160; Written communications pursuant to Rule 425 under the
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      ]&#160;&#160;&#160;&#160; Soliciting material pursuant to Rule 14a-12(b) under
      the Exchange Act (17 CFR 240.14a-12(b)) </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
      ]&#160;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule
      14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
      ]&#160;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule
      13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      2.02.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Results
      of Operations and Financial Condition </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      21, 2006, New Dragon Asia Corp. (the &#8220;Company&#8221;) issued a press release
      containing certain financial results for the fourth quarter and fiscal year
      ended December 25, 2005. A copy of the Company&#8217;s earnings press release is
      furnished as Exhibit 99.1 to this Current Report on Form 8-K. Such financial
      results are unaudited and are subject to adjustment.</font></div>
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      information in this Report, including the exhibit, shall not be deemed to be
      &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of 1934,
      as amended, or otherwise subject to the liabilities of that Section. It shall
      not be deemed incorporated by reference in any filing under the Securities
      Act
      of 1933, as amended, except as shall be expressly set forth by specific
      reference in such a filing.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To
      supplement the Company&#8217;s consolidated financial statements presented in
      accordance with GAAP, the Company discusses its results in terms of financial
      measures that may be deemed to be &#8220;non-GAAP financial measures&#8221; under the rules
      and regulations of the Securities and Exchange Commission. The Company&#8217;s
      management believes that these measures provide meaningful information regarding
      the Company&#8217;s performance and liquidity by excluding certain expenses that may
      not be indicative of its core operating results and facilitate comparisons
      to
      its historical operations and competitors&#8217; operating results. To the extent such
      measures are not readily reconcilable to the comparable GAAP financial measures
      contained in its consolidated financial statements, the Company provides
      detailed reconciliations that permit investors to determine how such non-GAAP
      financial measures have been derived.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      9.01.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
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      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits</font></div>
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                No.</u></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description</u></font></div>
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            <td align="left" valign="top" width="57%">&#160;</td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;
                99.1</font></div>
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                release dated March 21, 2006 announcing New Dragon Asia Corp.&#8217;s results of
                operations for fourth quarter and fiscal year ended December 25,
                2005.</font></div>
            </td>
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    <div>&#160;</div>
    <div><br>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
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      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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            <td width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NEW
                DRAGON ASIA CORP.</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="50%">&#160;</td>
            <td width="50%">&#160;</td>
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          <tr bgcolor="white">
            <td width="50%">&#160;</td>
            <td width="50%">
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                </u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                Peter
                Mak&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
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                Peter Mak</font></div>
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            <td width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:&#160;&#160;
                Chief Financial Officer</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:
      March 21, 2006</font></div>
    <div>&#160;</div>
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      INDEX</font></div>
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                  No.</u></font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description</u></font></div>
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                  99.1</font></div>
              </td>
              <td align="justify" valign="top" width="57%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                  release dated March 21, 2006 announcing New Dragon Asia Corp.&#8217;s results of
                  operations for fourth quarter and fiscal year ended December 25,
                  2005.</font></div>
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{"company-data": {"conformed-name": "NEW DRAGON ASIA CORP", "cik": "0001089590", "assigned-sic": "2000", "irs-number": "650926223", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15046", "film-number": "06700504"}, "business-address": {"street1": "SUITE 2808, INTERNATIONAL CHAMBER OF COM", "street2": "FUHUA THREE ROAD", "city": "SHENZHEN", "state": "F4", "zip": "00000", "phone": "852 2815 9892"}, "mail-address": {"street1": "SUITE 2808, INTERNATIONAL CHAMBER OF COM", "street2": "FUHUA THREE ROAD", "city": "SHENZHEN", "state": "F4", "zip": "00000"}, "former-company": {"former-conformed-name": "BIO AQUA SYSTEMS INC", "date-changed": "19990629"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act 1934
Date
      of
      Report (date of earliest event reported): March 21, 2006
NEW
      DRAGON ASIA CORP.
(Exact
      name of registrant as specified in charter)
Florida
001-15046
88-0404114
(State
                of Incorporation)
(Commission
                File No.)
(IRS
                Employer
Identification
                No.)
Suite
      2808,International Chamber of Commerce Tower
Fuhua
      Three Road, Shenzhen, PRC 518048
(Address
      Of Principal Executive Offices) (Zip Code)
011
86
      755
      8831 2115
(Registrant's
      Telephone Number, Including Area Code)
(Former
      Name or Former Address, is Changed Since Last Report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of registrant under any of the following
      provisions:
[
      ]     Written communications pursuant to Rule 425 under the
      Securities Act (17 CFR 230.425)
[
      ]     Soliciting material pursuant to Rule 14a-12(b) under
      the Exchange Act (17 CFR 240.14a-12(b))
[
      ]     Pre-commencement communications pursuant to Rule
      14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[
      ]     Pre-commencement communications pursuant to Rule
      13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
      2.02.
Results
      of Operations and Financial Condition
On
      March
      21, 2006, New Dragon Asia Corp. (the "Company") issued a press release
      containing certain financial results for the fourth quarter and fiscal year
      ended December 25, 2005. A copy of the Company's earnings press release is
      furnished as Exhibit 99.1 to this Current Report on Form 8-K. Such financial
      results are unaudited and are subject to adjustment.
The
      information in this Report, including the exhibit, shall not be deemed to be
      "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934,
      as amended, or otherwise subject to the liabilities of that Section. It shall
      not be deemed incorporated by reference in any filing under the Securities
      Act
      of 1933, as amended, except as shall be expressly set forth by specific
      reference in such a filing.
To
      supplement the Company's consolidated financial statements presented in
      accordance with GAAP, the Company discusses its results in terms of financial
      measures that may be deemed to be "non-GAAP financial measures" under the rules
      and regulations of the Securities and Exchange Commission. The Company's
      management believes that these measures provide meaningful information regarding
      the Company's performance and liquidity by excluding certain expenses that may
      not be indicative of its core operating results and facilitate comparisons
      to
      its historical operations and competitors' operating results. To the extent such
      measures are not readily reconcilable to the comparable GAAP financial measures
      contained in its consolidated financial statements, the Company provides
      detailed reconciliations that permit investors to determine how such non-GAAP
      financial measures have been derived.
Item
      9.01.
Financial
      Statements and Exhibits
(c)
Exhibits
Exhibit
                No.
Description
99.1
Press
                release dated March 21, 2006 announcing New Dragon Asia Corp.'s results of
                operations for fourth quarter and fiscal year ended December 25,
                2005.
2
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
NEW
                DRAGON ASIA CORP.
By:
/s/
                Peter
                Mak
Name:
                Peter Mak
Title:  
                Chief Financial Officer
Dated:
      March 21, 2006
3
EXHIBIT
      INDEX
Exhibit
                  No.
Description
99.1
Press
                  release dated March 21, 2006 announcing New Dragon Asia Corp.'s results of
                  operations for fourth quarter and fiscal year ended December 25,
                  2005.
4