<SUBMISSION>
<ACCESSION-NUMBER>0001204459-07-000120
<TYPE>SC 13G
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20070125
<DATE-OF-FILING-DATE-CHANGE>20070125
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>ADSERO CORP
<CIK>0001103544
<ASSIGNED-SIC>3570
<IRS-NUMBER>650602729
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13G
<ACT>34
<FILE-NUMBER>005-80720
<FILM-NUMBER>07551825
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2101 NOBEL STREET
<CITY>SAINTE JULIE
<STATE>A8
<ZIP>J3E 1Z8
<PHONE>450-922-5689
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2101 NOBEL STREET
<CITY>SAINTE JULIE
<STATE>A8
<ZIP>J3E 1Z8
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>REINK CORP
<DATE-CHANGED>20010212
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>Goodman & Company, Investment Counsel Ltd.
<CIK>0000944388
<IRS-NUMBER>000000000
<STATE-OF-INCORPORATION>A6
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC 13G
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1 ADELAIDE STREET EAST
<STREET2>29TH FLOOR
<CITY>TORONTO
<STATE>A6
<ZIP>M5V 2C9
<PHONE>4168636990
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1 ADELAIDE STREET EAST
<STREET2>29TH FLOOR
<CITY>TORONTO
<STATE>A6
<ZIP>M5V 2C9
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>GOODMAN & COMPANY, INVESTMENT COUNSEL LTD.
<DATE-CHANGED>20040527
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>DYNAMIC MUTUAL FUNDS LTD
<DATE-CHANGED>20020301
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>DUNDEE INVESTMENT MANAGEMENT & RESEARCH LTD
<DATE-CHANGED>19980717
</FORMER-COMPANY>
</FILED-BY>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>adsero13g.htm
<DESCRIPTION>SCHEDULE 13G
<TEXT>
<html>

<head>

<title>Adsero Corp.: Schedule 13G - Prepared by TNT Filings Inc.
</title>
</head>

<body>

<font face="Times New Roman"><b>
<p>&nbsp;</p>
<hr color="#000000" SIZE="5">
<p align="center"><font size="5">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
</font></b></font><font face="Times New Roman" size="2">Washington, D.C. 20549</p>
</font><b><font face="Times New Roman" size="5">
<p align="center">SCHEDULE 13G</p>
</font><font face="Times New Roman" size="2">
<p align="center">Under the Securities Exchange Act of 1934 <br>
(Year End Filing)*</p>
</font><font face="Times New Roman PS" size="6">
<div align="center">
  <center>
  <table id="AutoNumber1" style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="85%" border="0">
    <tr>
      <td style="border-bottom: 1px solid" align="middle" width="100%">
      <font size="5"><b>ADSERO</b></font></font><font face="Times New Roman" size="6"><font FACE="Times New Roman PS" size="5"><b>
      CORP</b></font></font><font face="Times New Roman PS" size="5"><b>.</b></td>
    </tr>
</font><font face="Times New Roman" size="6">
    <font face="Times New Roman" size="6">
    <tr>
      <td style="border-top: 1px solid" align="middle" width="100%">
      <font face="Times New Roman" size="2">(Name of Issuer)</font></td>
    </tr>
    <tr>
      <td align="middle" width="100%">&nbsp;</td>
    </tr>
    <tr>
      <td style="border-bottom: 1px solid" align="middle" width="100%">
      <font face="Times New Roman" size="2"><b>COMMON </b></font>
</font>
</font><font face="Times New Roman" size="2">
      <b>SHARES</b></td>
    </tr>
</font><font face="Times New Roman" size="6">
    <font face="Times New Roman" size="6">
    <tr>
      <td style="border-top: 1px solid" align="middle" width="100%">
      <font face="Times New Roman" size="2">(Title of Class of Securities)</font></td>
    </tr>
    <tr>
      <td align="middle" width="100%">&nbsp;</td>
    </tr>
</font>
</font><font face="Times New Roman">
    <tr>
      <td style="border-bottom: 1px solid" align="middle" width="100%">
      <font FACE="Times New Roman PS" size="2"><b>00737E 10 9</b></font></td>
    </tr>
</font><font face="Times New Roman" size="6">
    <font face="Times New Roman" size="6">
    <tr>
      <td style="border-top: 1px solid" align="middle" width="100%">
      <font face="Times New Roman" size="2">(CUSIP Number) </font></td>
    </tr>
    <tr>
      <td align="middle" width="100%">&nbsp;</td>
    </tr>
    <tr>
      <td style="border-bottom: 1px solid" align="middle" width="100%">
      <font size="2" style="font-weight: 700">December 31,</font><font style="font-weight: 700" size="2">
      2006</font></td>
    </tr>
    <tr>
      <td style="border-top: 1px solid" align="middle" width="100%">
      <font face="Times New Roman" size="2">(Date of Event Which Requires Filing
      of this Statement)</font></td>
    </tr>
    <tr>
      <td width="100%">&nbsp;</td>
    </tr>
  </table>
  </center>
</div>
</font>
</font></b><font face="Times New Roman">
<p><font size="2">Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:</font></p>
<p><font size="2">[ <b>&nbsp; </b>] Rule 13d-1(b) <br>
[</font></font><font size="2"><font face="Times New Roman"><b>X</b>] Rule
13d-1(c)<br>
[&nbsp; </font>&nbsp;</font><font face="Times New Roman"><font size="2">] Rule 13d-1(d)</font></p>
<p><font size="2">*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page. </font></p>
<p><font size="2">The information required in the remainder of this cover page
shall not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the
Securities Exchange Act of 1934 (&quot;Act&quot;) or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).</font></p>
<p align="center"><font size="2">Page 1 of 5 pages</font></p>
<hr color="#000000" size="5"><p Style='page-break-before:always'></font>
<table style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" borderColorDark="#000000" cellPadding="0" width="100%" borderColorLight="#000000" border="0">
  <tr>
    <td style="border-bottom: 2px solid" width="164" height="21">
    <font face="Times New Roman" size="2">CUSIP No.</font></td>
    <td style="border-bottom: 2px solid" width="290" height="21"><b>
    <font FACE="Times New Roman PS" size="2">00737E 10 9</font></b></td>
    <td style="border-bottom: 2px solid" width="5" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="154" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="114" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="509" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="454" colSpan="2" height="19">
    <font face="Times New Roman" size="2">1. Names of Reporting Persons.</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="727" colSpan="5" height="19">
    <p style="text-indent: 10">
    <font face="Times New Roman" size="2">I.R.S. Identification Nos. of above
    persons (entities only).</font></td>
    <td width="509" height="19">
    <p style="text-indent: 10"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td style="border-bottom: 2px solid" width="1236" colSpan="6" height="17">
    <p style="margin-left: 10">
    <font FACE="Times New Roman PS" size="2"><b>Goodman &amp; Company, Investment
    Counsel Ltd., One Adelaide Street East, 29<sup>th</sup> Floor,
    Toronto, Ontario, Canada, M5C 2V9</b></font></td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="1236" colSpan="6" height="17">
    <font face="Times New Roman" size="2">2. Check the Appropriate Box if a
    Member of a Group (See Instructions)</font></td>
  </tr>
  <tr>
    <td width="454" colSpan="2" height="19">
    <p style="margin-left: 10">
    <font face="Times New Roman" size="2">(a)&nbsp; <b>N/A</b></font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td style="border-bottom: 2px solid" width="164" height="21">
    <p style="margin-left: 10">
    <font face="Times New Roman" size="2">(b)</font></td>
    <td style="border-bottom: 2px solid" width="290" height="21">
    <p style="margin-left: 10">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="5" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="154" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="114" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="509" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td style="border-bottom: 2px solid" width="454" colSpan="2" height="21">
    <font face="Times New Roman" size="2">3. SEC Use Only</font></td>
    <td style="border-bottom: 2px solid" width="5" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="154" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="114" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="509" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="1236" colSpan="6" height="17">
    <font face="Times New Roman" size="2">4. Citizenship or Place of
    Organization:</font><b><font face="Times New Roman" size="2">&nbsp;&nbsp; Toronto, Ontario, Canada</font></b></td>
  </tr>
  <tr>
    <td style="border-bottom: 2px solid" width="613" colSpan="4" height="21">
    <font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp; </font></td>
    <td style="border-bottom: 2px solid" width="114" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="509" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="1"><font face="Times New Roman" size="2">Number of</font></td>
    <td style="border-bottom: 2px solid" width="1072" height="1" colspan="5">
    <font face="Times New Roman" size="2">5. Sole Voting Power&nbsp;&nbsp;&nbsp; </font>
    <font FACE="Times New Roman PS" size="2"><b>2,400,050 common shares +
    2,400,050 warrants</b></font></td>
  </tr>
  <tr>
    <td width="164" height="1"><font face="Times New Roman" size="2">Shares</font></td>
    <td width="290" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="1"><font face="Times New Roman" size="2">
    Beneficially</font></td>
    <td style="border-bottom: 2px solid" width="449" height="1" colspan="3">
    <font face="Times New Roman" size="2">6. Shared Voting Power&nbsp;&nbsp;&nbsp; </font><b>
    <font face="Times New Roman" size="2">Nil</font></b></td>
    <td style="border-bottom: 2px solid" width="114" height="1">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="509" height="1">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="1"><font face="Times New Roman" size="2">Owned by</font></td>
    <td width="290" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="1"><font face="Times New Roman" size="2">Each</font></td>
    <td style="border-bottom: 2px solid" width="1072" colSpan="5" height="1">
    <font face="Times New Roman" size="2">7. Sole Dispositive Power&nbsp;&nbsp;&nbsp;</font><font FACE="Times New Roman PS" size="2"><b>2,400,050
    common shares + 2,400,050 warrants</b></font></td>
  </tr>
  <tr>
    <td width="164" height="1"><font face="Times New Roman" size="2">Reporting</font></td>
    <td width="290" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="1"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td style="border-bottom: 2px solid" width="164" height="1">
    <font face="Times New Roman" size="2">Person With</font></td>
    <td style="border-bottom: 2px solid" width="449" colSpan="3" height="1">
    <font face="Times New Roman" size="2">8. Shared Dispositive Power&nbsp;&nbsp;&nbsp; </font><b>
    <font face="Times New Roman" size="2">Nil</font></b></td>
    <td style="border-bottom: 2px solid" width="114" height="1">
    </td>
    <td style="border-bottom: 2px solid" width="509" height="1">
    </td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td style="border-bottom: 2px solid" width="1236" colSpan="6" height="47">
    <font face="Times New Roman" size="2">9. Aggregate Amount Beneficially Owned
    by Each Reporting Person&nbsp;&nbsp;&nbsp; </font>
    <font FACE="Times New Roman PS" size="2"><b>2,400,050 common shares +
    2,400,050 warrants are held within mutual funds or other client accounts
    managed by Goodman &amp; Company, Investment Counsel Ltd. acting as Investment
    Counsel and Portfolio Manager.</b></font></td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="1236" colSpan="6" height="18">
    <font face="Times New Roman" size="2">10. Check if the Aggregate Amount in
    Row (9) Excludes Certain Shares (See Instructions)&nbsp;&nbsp;&nbsp;&nbsp; <b>N/A</b></font></td>
  </tr>
  <tr>
    <td style="border-bottom: 2px solid" width="164" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="290" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="5" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="154" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="114" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="509" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="1236" colSpan="6" height="30">
    <font face="Times New Roman" size="2">11. Percent of Class Represented by
    Amount in Row (9)&nbsp;&nbsp;&nbsp; </font>
    <font FACE="Times New Roman PS" size="2"><b>13.17%&nbsp; partially diluted</b></font></td>
  </tr>
  <tr>
    <td style="border-bottom: 2px solid" width="164" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="290" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="5" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="154" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="114" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
    <td style="border-bottom: 2px solid" width="509" height="21">
    <font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="164" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="290" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="5" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="154" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td width="613" colSpan="4" height="19">
    <font face="Times New Roman" size="2">12. Type of Reporting Person (See
    Instructions)&nbsp;&nbsp;&nbsp;&nbsp; <b>&nbsp; IA</b></font></td>
    <td width="114" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
    <td width="509" height="19"><font face="Times New Roman" size="2">&nbsp;</font></td>
  </tr>
  <tr>
    <td style="border-top: medium none; border-bottom: 2px solid" width="164" height="21">
    <font style="font-size: 11pt">&nbsp;</font></td>
    <td style="border-top: medium none; border-bottom: 2px solid" width="290" height="21">
    <font style="font-size: 11pt">&nbsp;</font></td>
    <td style="border-top: medium none; border-bottom: 2px solid" width="5" height="21">
    <font style="font-size: 11pt">&nbsp;</font></td>
    <td style="border-top: medium none; border-bottom: 2px solid" width="154" height="21">
    <font style="font-size: 11pt">&nbsp;</font></td>
    <td style="border-top: medium none; border-bottom: 2px solid" width="114" height="21">
    <font style="font-size: 11pt">&nbsp;</font></td>
    <td style="border-top: medium none; border-bottom: 2px solid" width="509" height="21">
    <font style="font-size: 11pt">&nbsp;</font></td>
  </tr>
</table>
<font face="Times New Roman">
<p align="center"><font size="2">Page 2 of 5 pages</font></p>
<hr color="#000000" size="5"><p Style='page-break-before:always'><b>
<p><font size="2">Item 1. </font></b><font size="2">(a) Name of Issuer <b>&nbsp;
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adsero Corp.</b></font><b></p>
<p><font size="2">Item 1.</font></b><font size="2"> (b) Address of Issuer's
Principal Executive Offices<b>&nbsp; </b> </font>
<font FACE="Times New Roman PS" size="2"><b><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4380 Swinnea Road, Building B,
<font FACE="Times New Roman PS">Suite 112, Memphis, Tennessee 38118 USA </p>
</font></b></font>
<b>
<p><font size="2">Item 2.</font></b><font size="2"> (a) Name of Person Filing<b>&nbsp;&nbsp;
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodman &amp; Company, Investment Counsel Ltd.</b></font></p>
<b>
<p><font size="2">Item 2.</font></b><font size="2"> (b) Address of Principal
Business Office or, if none, Residence<b><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</b></font>
    <font FACE="Times New Roman PS" size="2"><b>One Adelaide Street East, 29<sup>th</sup> Floor,
    Toronto, Ontario, Canada, M5C 2V9</b></font></p>
<b>
<p><font size="2">Item 2.</font></b><font size="2"> (c) Citizenship<b>&nbsp; <br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian</b></font></p>
<b>
<p><font size="2">Item 2.</font></b><font size="2"> (d) Title of Class of
Securities<b>&nbsp; <br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Shares</b></font></p>
<b>
<p><font size="2">Item 2.</font></b><font size="2"> (e) CUSIP Number<b>&nbsp;&nbsp;
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not applicable</b></font></p>
<b>
<p><font size="2">Item 3. If this statement is filed pursuant to Rule 13d-1(b)
or 13d-2(b) or (c), check whether the person filing is a: </font></p>
<table style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" borderColorDark="#000000" cellPadding="0" width="100%" borderColorLight="#000000" border="0">
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(a)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">Broker or dealer
    registered under section 15 of the Act (15 U.S.C. 78o).</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(b)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">Bank as defined in
    section 3(a)(6) of the Act (15 U.S.C. 78c).</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(c)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">Insurance company as
    defined in section 3(a)(19) of the Act (15 U.S.C. 78c).</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(d)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">Investment company
    registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(e)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">An investment adviser
    in accordance with Rule 13d-1(b)(1)(ii)(E);</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(f)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">An employee benefit
    plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(g)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">A parent holding
    company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(h)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">A savings associations
    as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(i)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">A church plan that is
    excluded from the definition of an investment company under section 3(c)(14) of the
    Investment Company Act of 1940 (15 U.S.C. 80a-3);</font></td>
  </tr>
  <tr>
    <td width="87"><font face="Times New Roman" size="2">(j)</font></td>
    <td width="28"><font face="Times New Roman" size="2">[</font></td>
    <td width="54"><font face="Times New Roman" size="2">]</font></td>
    <td width="1068"><font face="Times New Roman" size="2">Group, in accordance
    with Rule 13d-1(b)(1)(ii)(J).</font></td>
  </tr>
</table>
<p><font size="2">CANADIAN INVESTMENT COUNSELLING FIRM</font></p>
</b>
<p align="center"><font size="2">Page 3 of 5 pages</font></p>
<hr color="#000000" size="5"><p Style='page-break-before:always'><b>
<p><font size="2">Item 4. Ownership.</font></p>
</b></font>
<font face="Times New Roman" size="2">
<blockquote>
  <p align="left">(a) Amount beneficially owned: &nbsp;<font FACE="Times New Roman PS" size="2"><b>2,400,050
  common shares + 2,400,050 warrants</b></font><br>
  (b) Percent of class: &nbsp;<b> 13.17% partially diluted<br>
  </b>(c) Number of shares as to which the person has:<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp; Sole power to vote or to direct the vote&nbsp;
  &nbsp;<font FACE="Times New Roman PS" size="2"><b>2,400,050 common shares +
  2,400,050 warrants</b></font><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp; Shared power to vote or to direct the vote <b>Nil</b><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp; Sole power to dispose or to direct the
  disposition of&nbsp; &nbsp;<font FACE="Times New Roman PS" size="2"><b>2,400,050
  common shares + 2,400,050 warrants</b></font><br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iv)&nbsp;&nbsp; Shared power to dispose or to direct the
  disposition of <b>&nbsp;Nil</b></p>
</blockquote>
<b>
<p align="left">Item 5. Ownership of Five Percent or Less of a Class</p>
</b>
<blockquote>
<p align="left">Not Applicable</p>
</font><font face="Times New Roman">
</blockquote>
<font FACE="Times New Roman PSMT" size="2"></font>
<b>
<p align="left"><font size="2">Item 6. Ownership of More than Five Percent on
Behalf of Another Person. </font></p>
<blockquote>
<p align="left"></b><font face="Times New Roman" size="2">Not Applicable</font></p>
</blockquote>
<b>
<p align="left"><font size="2">Item 7. Identification and Classification of the
Subsidiary Which Acquired the Security Being Reported on By the Parent Holding
Company </font></p>
<blockquote>
<p align="left"></b><font face="Times New Roman" size="2">Not Applicable</font></p>
</blockquote>
<b>
<p align="left"><font size="2">Item 8. Identification and Classification of
Members of the Group </font></p>
<blockquote>
<p align="left"></b><font face="Times New Roman" size="2">Not Applicable</font></p>
</blockquote>
<b>
<p align="left"><font size="2">Item 9. Notice of Dissolution of Group </font></p>
<blockquote>
<p align="left"></b><font face="Times New Roman" size="2">Not Applicable</font></p>
</blockquote>
<b>
<p align="left"><font size="2">Item 10. Certification</font></p>
</b>
<blockquote>
  <p align="left"><font size="2">By signing below I certify that, to the best of
  my knowledge and belief, the securities referred to above were not acquired
  and are not held for the purpose of or with the effect of changing or
  influencing the control of the issuer of the securities and were not acquired
  and are not held in connection with or as a participant in any transaction
  having that purpose or effect.</font></p>
  </font>
</blockquote>
<p align="center"><font size="2">Page 4 of 5 pages</font></p>
<hr color="#000000" size="5"><p Style='page-break-before:always'><b><font face="Times New Roman" size="2">
<p align="center">SIGNATURE</p>
</font></b><font face="Times New Roman" size="2">
<p>After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.</p>
</font>
<div align="right">
  <table style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="50%" border="0">
    <font face="Times New Roman">
    <tr>
      <td style="border-bottom: 1px solid" align="middle"><font size="2">January
      25, 2007</font></td>
    </tr>
    <tr>
      <td style="border-bottom: medium none" align="middle"><font size="2">Date</font></td>
    </tr>
    <tr>
      <td style="border-top: medium none; border-bottom: medium none" align="middle">
      &nbsp;</td>
    </tr>
    <tr>
      <td style="border-top: medium none; border-bottom: 1px solid" align="middle">
      <i><font size="2">&quot;Rohit Sehgal&quot;</font></i></td>
    </tr>
    <tr>
      <td style="border-bottom: medium none" align="middle"><font size="2">
      Signature</font></td>
    </tr>
    <tr>
      <td style="border-top: medium none; border-bottom: medium none" align="middle">
      &nbsp;</td>
    </tr>
    <tr>
      <td style="border-top: medium none; border-bottom: medium none" align="middle">
      <font size="2">Rohit Sehgal,</font></td>
    </tr>
    <tr>
      <td style="border-top: medium none; border-bottom: 1px solid" align="middle">
      <font FACE="Times New Roman PSMT" size="2">Vice-President, Counselling and
      Chief Investment Strategist </font></td>
    </tr>
    <tr>
      <td align="middle"><font size="2">Name/Title</font></td>
    </tr>
  </table>
</div>
</font>
<font FACE="Times New Roman PSMT" size="2">
<p>The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature. </p>
</font>
<p align="center"><font size="2">Page 5 of 5 pages</font></p>
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