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 RADUL   2. Issuer Name and Ticker or Trading Symbol Cobalis Corp [CLSC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O 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) ___ Form filed by One Reporting Person _X_ 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   1,228,085 A $ 1.3 (1) 1,228,085 D   Common Stock 07/11/2006   J(2)   100,000 D $ 1.01 (3) 6,102,556 I Beneficiary, trustor of St. Petka Trust. Common Stock 10/17/2006   J   1,382,180 A $ 1.3 (1) 7,484,736 I Beneficiary, trustor of St. Petka Trust. Common Stock 10/17/2006   J   170,644 A $ 1.3 (1) 170,644 I Owner of R&R Development. Common Stock 10/17/2006   J   411,042 A $ 1.3 (1) 411,375 I Owner of R&R Holdings. Common Stock 10/17/2006   J   44,833 A $ 1.3 (1) 848,688 I Owner of Silver Mountain Promotions. Common Stock 10/17/2006   J   100,000 A $ 0.9 (4) 838,851 I Household/family member of holder. Common Stock               44,000 I Household/family member of holder, in trust for minor.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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

1,500,000

I

Household/family member of holder.

Options (right to buy)

$ 1.4

05/15/2007

05/15/2011

Common Stock

500,000

1,500,000

I

Household/family member of holder.

Options (right to buy)

$ 1.4

05/15/2008

05/15/2011

Common Stock

500,000

1,500,000

I

Household/family member of holder.

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
RADOVICH RADUL C/O 2445 MCCABE WAY, SUITE 150 IRVINE, CA 92614	X
ST PETKA TRUST C/O 2445 MCCABE WAY, SUITE 150 IRVINE, CA 92614		X

Signatures

/s/ Radul Radovich		10/20/2006
**Signature of Reporting Person		Date
/s/ Radul Radovich for St. Petka Trust		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)	Granted in settlement of issuer's debt by issuer at the rate of $1.30 per share.
(2)	Shares transferred in settlement of issuer's debt to transferee.
(3)	Market closing price on date of transfer.
(4)	Granted pursuant to employment agreement dated 05/15/2006 in lieu of $86,939.10 for back wages and unused vacation through 05/15/2006.

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