Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
RADOVICH CHASLAV
  2. Issuer Name and Ticker or Trading Symbol
Cobalis Corp [CLSC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, Secretary
(Last)
(First)
(Middle)
2445 MCCABE WAY, SUITE 150
3. Date of Earliest Transaction (Month/Day/Year)
07/11/2006
(Street)

IRVINE, CA 92614
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/17/2006   J   100,000 A $ 0.9 (1) 838,851 D  
Common Stock               44,000 D (2)  
Common Stock 07/11/2006   J(3)   100,000 D $ 1.01 (4) 6,102,556 I Shares a household with immediate family members beneficiaries of St. Petka Trust, owner of shares.
Common Stock 10/17/2006   J   1,382,180 A $ 1.3 (5) 7,484,736 I Shares a household with immediate family members beneficiaries of St. Petka Trust, owner of shares.
Common Stock 10/17/2006   J   411,042 A $ 1.3 (5) 411,375 I Shares household with family member, owner of R&R Holdings, owner of shares.
Common Stock 10/17/2006   J   803,855 A $ 1.3 (5) 848,688 I Shares household with family member, owner of Silver Mountain Promotions.
Common Stock 10/17/2006   J   170,644 A $ 1.3 (5) 170,644 I Shares household with family member, owner of R&R Development, owner of shares.
Common Stock 10/17/2006   J   1,228,085 A $ 1.3 (5) 1,228,085 I Shares household with family member, Radul Radovich, owner of shares.

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options (right to buy) $ 1.4             05/15/2006 05/15/2011 Common Stock 500,000   150,000 D  
Options (right to buy) $ 1.4             05/15/2007 05/15/2011 Common Stock 500,000   150,000 D  
Options (right to buy) $ 1.4             05/15/2008 05/15/2011 Common Stock 500,000   150,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
RADOVICH CHASLAV
2445 MCCABE WAY, SUITE 150
IRVINE, CA 92614
  X   X   President, Secretary  

Signatures

 /s/ Chaslav Radovich   10/20/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares issued pursuant to employment agreement dated 05/15/2006 in lieu of $86,939.10 for back wages and unused vacation through 05/15/2006.
(2) As custodian for minor child Milena Radovich.
(3) Shares transferred in settlement of issuer's debt to transferee.
(4) Market price on date of transfer.
(5) Granted in settlement of debt owed by issuer at the rate of $1.30

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