UNITED STATES

SECURITIES AND
EXCHANGE COMMISSION

Washington D. C. 20549





FORM 10-QSB



(X) Quarterly report
pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934.

For the quarterly
period endedJanuary 31, 2007



( ) Transition report
pursuant to Section 13 or 15(d) of the Exchange Act

for the transition
period from _____________ to ____________.

Commission file
number: 0-27795



QUADTECH
INTERNATIONAL, INC.

(formerly Meier
Worldwide Intermedia Inc.)

(Exact name of
registrant as specified in charter)





|NEVADA                                                             | 52-2079421                          
|------------------------------------------------------------------ | ------------------------------------
|(State or other jurisdiction of
    incorporation or organization) | (I.R.S. Employer Identification No.)







300-1055 West Hastings
St.

Vancouver BC V6E 2E9,
Canada

(Address of principal
executive offices)





(604) 331-2511

(Registrant's
Telephone Number, Including Area Code)



Copies to:

Richard A. Friedman,
Esq.

Sichenzia Ross
Friedman Ference LLP

1065 Avenue of the
Americas

New York, New York
10018

Phone: (212) 930-9700

Fax: (212) 930-9725

Check whether the registrant: (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. YES (X) NO ( )

Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Exchange Act): Yes [ ] No [X]

As of January 31, 2007, the issuer had 28,929,565 shares of common stock
outstanding

Transitional Small Business Disclosure Format: YES ( ) NO (X)

---



QUADTECH
INTERNATIONAL, INC. AND SUBSIDIARIES

(A DEVELOPMENT STAGE
ENTERPRISES)

INDEX TO FORM 10-QSB

PART 1. FINANCIAL INFORMATION

|                                                                                                                                                                            | Page   
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------
|Item 1. Consolidated Financial Statements
    (unaudited):                                                                                                                  |        
|Consolidated Balance Sheets as of January 31, 2007 and October 31, 2006                                                                                                     | 5      
|                                                                                                                                                                            |        
|Consolidated Statements of
    Operations for the three months ended January 31, 2007
    and 2006, and the period
    May 10, 2002 (date of inception) to January 31, 2007 | 6      
|                                                                                                                                                                            |        
|Consolidated Statements of
    Cash Flows for the three months ended January 31, 2007
    and 2006, and the period
    May 10, 2002 (date of inception) to January 31, 2007 | 7      
|                                                                                                                                                                            |        
|Statement of Changes
    in Stockholders Equity                                                                                                                             | 8      
|                                                                                                                                                                            |        
|Notes to Consolidated Financial
    Statements                                                                                                                              | 9 - 13 
|                                                                                                                                                                            |        
|Item 2.
    Management's Discussion and Analysis of Financial Condition
    and Results of Operations                                                                       | 14 - 15
|                                                                                                                                                                            |        
|Item 3.
    Controls and Procedures                                                                                                                                         | 16     
|                                                                                                                                                                            |        
|PART II.
    OTHER INFORMATION                                                                                                                                              |        
|                                                                                                                                                                            |        
|Item 1. Legal Proceedings.                                                                                                                                                  | 17     
|                                                                                                                                                                            |        
|Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.                                                                                                        | 18     
|                                                                                                                                                                            |        
|Item 3. Defaults Upon
    Senior Securities                                                                                                                                 | 18     
|                                                                                                                                                                            |        
|Item
    4. Submission of Matters to a Vote of Securities Holders                                                                                                           | 18     
|                                                                                                                                                                            |        
|Item 5. Other Information                                                                                                                                                   | 18     
|                                                                                                                                                                            |        
|Item 6. Exhibits                                                                                                                                                            | 19-21  









---

PART I

FORWARD-LOOKING STATEMENTS

Certain statements contained in this filing are
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, such as statements relating to financial results
and plans for future business development activities, and are thus prospective.
These statements appear in a number of places in this Form 10-QSB and include
all statements that are not statements of historical fact regarding intent,
belief or our current expectations, with respect to, among other things: (i) our
financing plans; (ii) trends affecting our financial condition or results of
operations; (iii) our growth strategy and operating strategy; and (iv) the
declaration and payment of dividends. The words "may," "would," "could," "will,"
"expect," "estimate," "anticipate," "believe," "intend," "plans," and similar
expressions and variations thereof are intended to identify forward-looking
statements.

Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond our ability to control. Actual results
may differ materially from those projected in the forward-looking statements as
a result of various factors. Among the key risks, assumptions and factors that
may affect operating results, performance and financial condition are changes in
technology, fluctuations in our quarterly results, ability to continue and
manage our growth, liquidity and other capital resources issues, competition and
the other factors discussed in detail in our filings with the Securities and
Exchange Commission.

---

FINANCIAL STATEMENTS

Madsen & Associates, CPA's Inc.

Certified Public Accountants and
Business Consultants

684 East Vine Street #3

Murray, Utah 84107

Tel no:- 801-268-2632

Fax no: - 801-262-3978

REPORT ON REVIEW BY
INDEPENDENT

CERTIFIED PUBLIC
ACCOUTANT

The Board of Directors

Meier Worldwide Intermedia, Inc.



We have reviewed the balance sheet of the above company as of
January 31, 2007 and the related statements of operations and cash flows for the
periods then ended. These financial statements are the responsibility of the
company's management.



We conducted the review in accordance with standards
established by the American Institute of Certified Public Accountants. A review
of the interim financial information consists principally of applying procedures
to financial data and making inquiries of the persons responsible for the
financial and accounting matters. It is substantially less in scope than an
audit conducted in accordance with generally accepted accounting standards, the
objective of which is the expression of an opinion regarding the financial
statements as a whole. Accordingly we do not express an opinion.



Based on our review, we are not aware of any material
modifications that should be made to the accompanying financial statements for
them to be in conformity with accounting principles generally accepted in the
United States of America.



__________________________

Madsen & Associates CPA's Inc.

Salt Lake City, Utah

March 16, 2007



---





FINANCIAL STATEMENTS

The accompanying balance sheet of QuadTech International,
Inc. and Subsidiary at July 31, 2006 and statement of operations for the three
months ended January 31, 2007 and 2006, and the cash flowsfor the three
months ended January 31, 2007 and 2006 have been prepared by the Company's
management and they include all the information and notes to the financial
statements necessary for a complete presentation of the financial position,
results of operations and cash flows in conformity with accounting principles
generally accepted in the United States of America. In the opinion of
management, all adjustments considered necessary for a fair presentation of
results of operations and financial position have been included and all such
adjustments are of a normal recurring nature.



Operating results for the three months ended January 31, 2007
are not necessarily indicative of the results that can be expected for the year
ending October 31, 2007.



March 16, 2007

---



QUADTECH
INTERNATIONAL INC. AND SUBSIDIARY

( DEVELOPMENT STAGE COMPANY)

UNAUDITED





CONSOLIDATED BALANCE SHEET
      as at:ASSETS
      CURRENT ASSETS
      
      
      31 January 2007
      
      
      31 Oct 2006Cash
      
      $
      16
      
      $
      30Total Current Assets
      
      $
      16
      
      $
      30EQUIPMENT
      
      $
      0
      
      $
      0- net of accumulated depreciation
      OTHER ASSETS
      Available-for-sale securities
      
      $
      420
      
      $
      420$
      436
      
      $
      450LIABILITIES AND STOCKHOLDERS' DEFICIENCY
      CURRENT LIABILITIES
      Note payable
      
      $
      32,431
      
      $
      32,431Accrued interest payable
      
      $
      14,834
      
      $
      13,846Accounts payable
      
      $
      82,327
      
      $
      82,408Accrued rent payable
      
      $
      41,435
      
      $
      41,435Accounts payable - related parties
      
      $
      78,843
      
      $
      68,822Total Current
      Liabilities
      
      $
      249,870
      
      $
      238,942STOCKHOLDERS'
      DEFICIENCY
      Common stock
      
      $
      28,929
      
      $
      28,929200,000,000 shares authorized, at $0.001 par value;
      28,929,565
      shares issued and outstandingCapital in
      excess of par value
      
      $
      3,650,475
      
      $
      3,650,475Deficit
      accumulated during development stage
      
      $
      (3,928,840
      )
      $
      (3,917,896
      )Total
      Stockholders' Deficiency
      
      $
      (249,436
      )
      $
      (238,492
      )$
      436
      
      $
      450








The accompanying notes are an integral part of these financial
statements

---





QUADTECH INTERNATIONAL INC. AND
SUBSIDIARY

(DEVELOPMENT STAGE COMPANY)



CONSOLIDATED STATEMENTS OF
OPERATIONS

FOR THE THREE MONTHS January 31, 2007
AND 2006 AND THE PERIOD

MAY 10, 2002 (DATE OF INCEPTION OF
SUBSIDIARY) TO January 31, 2007

UNAUDITED









31 January  2007
      
      
      31 January  2006
      
      10 May -02 to 31 January 2007REVENUES
      
      $
      -
      
      $
      -
      $
      80,756EXPENSESProfessional and consulting
      
      
      -
      
      
      -
      
      3,480,782Administrative
      
      
      9,955
      
      
      8,207
      
      141,003Depreciation
      
      
      -
      
      
      1,604
      
      19,253$
      9,955
      
      $
      9,811
      
      3,993,038NET LOSS FROM
      OPERATIONS
      OTHER
      
      
      9,955
      
      
      9,811
      
      3,912,282Interest
      
      
      (987
      )
      
      (490
      )
      ($6,978
      )(Loss) in
      Investment - unrealized
      
      
      -
      
      
      -
      
      ($9,580
      )NET LOSS
      
      $
      (10,942
      )
      $
      (10,301
      )
      ($3,928,840
      )NET LOSS
      PER COMMON SHARE
      Basic and diluted
      
      
      (0.00
      )
      
      -AVERAGE
      OUTSTANDING SHARES                        (stated in 1,000's)Basic
      
      
      28,930
      
      
      13,682Diluted
      
      
      
      
      
      13,682






The accompanying notes are an integral part of these financial
statements

---



QUADTECH INTERNATIONAL INC. AND
SUBSIDIARY

(DEVELOPMENT STAGE COMPANY)





CONSOLIDATED STATEMENTS OF CASH
FLOWS

FOR THE THREE MONTHS ENDED JANUARY
31, 2007 AND 2006 AND THE PERIOD

MAY 10, 2002 (DATE OF INCEPTION OF
SUBSIDIARY) TO JANUARY 31, 2007

UNAUDITED

10-May-0231 Jan
      
      
      31 Jan
      
      
      to 31
      Jan2007
      
      
      2006
      
      
      2007CASH FLOWS FROMOPERATING ACTIVITIESNet loss
      
      $
      (10,942
      )
      $
      (10,301
      )
      $
      (3,928,840
      )Adjustments to reconcile
      netloss to net cash provided
      byoperating activities
      
      $
      -
      
      $
      -Depreciation
      
      $
      -
      
      $
      1,604
      
      $
      19,253Unrealized  Loss in Investment
      
      $
      -
      
      $
      -
      
      $
      9,580Stock issued for services and
      
      $
      -
      
      $
      -
      
      $
      -expenses
      
      $
      -
      
      $
      -
      
      $
      3,585,232Changes in accounts receivables
      
      $
      -
      
      $
      -
      
      $
      0Changes in accounts payable
      
      $
      10,928
      
      $
      8,744
      
      $
      243,545Net Cash Provided (Used)
      inOperations
      
      $
      (14
      )
      $
      47
      
      $
      (71,231
      )CASH FLOWS FROM INVESTINGACTIVITIESPurchase office equipment
      
      $
      -
      
      $
      -
      
      $
      (19,253
      )Purchase available-for-salesecurities
      
      $
      -
      
      $
      -
      
      $
      (10,000
      )$
      (14
      )
      $
      47
      
      $
      (29,253
      )CASH FLOWS FROM FINANCINGACTIVITIESProceeds from issuance of commonCommon stock and stockSubscriptions received
      
      $
      -
      
      $
      -
      
      $
      100,500Net Increase (Decrease) in Cash
      
      $
      (14
      )
      $
      47
      
      $
      16Cash at Beginning of Period
      
      $
      30
      
      $
      154Cash at End of Period
      
      $
      16
      
      $
      201
      
      $
      16NON CASH FLOWS FROM OPERATIONSIssuance of 580,000 shares common capital stock forServices - founders stock - 2002
      
      
      
      
      
      
      
      $
      1,000Contributions to capital - expenses - 2002
      
      
      
      
      
      
      
      $
      4,800Issuance of 61,774 shares common capital stock -Acquisition of Covenant - 2003
      
      $
      -
      
      
      
      
      $
      (137,456
      )Issuance of 657,500 shares common capital stock forServices and expenses
      
      
      
      
      
      
      
      $
      720,050Issuance of 46,000 shares common capital stockFor services - 2004
      
      
      
      
      
      
      
      $
      230,000Issuance of 45,000 shares common capital stockFor services - 2005
      
      $
      -
      
      
      
      
      $
      225,000Issuance of  5,230,303  shares common capital stockFor services - 2006
      
      
      
      
      
      
      
      $
      1,988,182




The accompanying notes are an integral part of these financial
statements.

---







QUADTECH INTERNATIONAL INC. AND
SUBSIDIARY

(DEVELOPMENT STAGE COMPANY)



STATEMENT OF CHANGES IN
STOCKHOLDERS' EQUITY

PERIOD MAY 10, 2002 (DATE OF
INCEPTION OF SUBSIDIARY) TO JANUARY 31, 2007

UNAUDITED





|                                                  |  |              |            |        |   |           |   | CAPITAL IN  |  |         |           
|------------------------------------------------- |  | ------------ | ---------- | ------ | - | --------- | - | ----------- |  | ------- | ----------
|                                                  |  | COMMON STOCK |            |        |   | EXCESS OF |   | ACCUMULATED | 
|                                                  |  | SHARES       |            | AMOUNT |   |           |   | PAR VALUE   |  | DEFICIT |           
|BALANCE MAY
    10, 2002                          |  |              | -          |        | $ | -         |   |             |  | $       | -         
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|to founders
    for services                      |  |              | 580,000    |        | $ | 580       |   |             |  | $       | 420       
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Services
    and office expenses                  |  |              |            |        |   |           |   |             |  |         |           
|contributed
    by shareholder                    |  |              | -          |        | $ | -         |   |             |  | $       | 4,800     
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Net
    operating loss May 10,                    |  |              |            |        |   |           |   |             |  |         |           
|2002 to
    October 31, 2002                      |  |              | -          |        | $ | -         |   |             |  | $       | -         
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|for
    services and office                       |  |              |            |        |   |           |   |             |  |         |           
|expenses                                          |  |              |            |        |   |           |   |             |  |         |           
|- January
    2003                                |  |              | 632,550    |        |   | 633       |   |             |  | $       | 631,917   
|- June 2003                                       |  |              | 25,000     |        |   | 25        |   |             |  | $       | 87,475    
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|for cash                                          |  |              |            |        |   |           |   |             |  |         |           
|at - 2003                                         |  |              | 15,000     |        |   | 15        |   |             |  | $       | 37,485    
|at- 2003                                          |  |              | 6,500      |        |   | 6         |   |             |  | $       | 32,494    
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|for
    acquisition of                            |  |              |            |        |   |           |   |             |  |         |           
|Covenant
    Corporation                          |  |              |            |        |   |           |   |             |  |         |           
|- June 25,
    2003                               |  |              | 61,774     |        | $ | 62        |   |             |  | $       | (137,518  
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Net
    operating loss for                        |  |              |            |        |   |           |   |             |  |         |           
|the year
    ended October 31, 2003               |  |              | -          |        | $ | -         |   |             |  | $       | -         
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|for cash                                          |  |              |            |        |   |           |   |             |  |         |           
|- April
    2004                                  |  |              | 2,400      |        |   | 2         |   |             |  | $       | 11,998    
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|for
    services                                  |  |              |            |        |   |           |   |             |  |         |           
|at - April
    2004                               |  |              | 46,000     |        | $ | 46        |   |             |  | $       | 229,954   
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Net
    operating loss for                        |  |              |            |        |   |           |   |             |  |         |           
|the year
    ended October 31, 2004               |  |              | -          |        | $ | -         |   |             |  | $       | -         
|BALANCE
    OCTOBER 31, 2004                      |  |              | 1,369,224  |        |   | 1,369     |   |             |  |         | 899,025   
|Issuance of
    common stock for subscriptions    |  |              |            |        |   |           |   |             |  |         |           
|received in
    2004 year                         |  |              | 4,000      |        | $ | 4         |   |             |  | $       | 18,496    
|Shares
    cancelled re Covent Corp               |  |              | (50,000    | )      | $ | (50       | ) |             |  | $       | 50        
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|for
    services                                  |  |              |            |        |   |           |   |             |  |         |           
|at -
    January 2005                             |  |              | 45,000     |        | $ | 45        |   |             |  | $       | 224,955   
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Net
    operating loss for                        |  |              |            |        |   |           |   |             |  |         |           
|the year
    ended October 31, 2005               |  |              |            |        |   |           |   |             |  |         |           
|BALANCE
    OCTOBER 31, 2005                      |  |              | 1,368,224  |        |   | 1,368     |   |             |  |         | 1,142,526 
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Adjustment
    for Reverse Spilt of common stock- |  |              |            |        |   |           |   |             |  |         |           
|1 share for
    10 - March 30, 2006               |  |              | 38         |        |   |           |   |             |  |         |           
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|for debt                                          |  |              | 19,831,000 |        |   | 19,831    |   |             |  |         | 175,498   
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Issuance of
    common stock                      |  |              |            |        |   |           |   |             |  |         |           
|for
    services                                  |  |              |            |        |   |           |   |             |  |         |           
|at $.01 - 7
    April, 2006                       |  |              | 2,000,000  |        |   | 2,000     |   |             |  | $       | 18,000    
|at $1.26 -
    5 May, 2006                        |  |              | 100,000    |        |   | 100       |   |             |  | $       | 125,900   
|at $.60 -
    12 June, 2006                       |  |              | 3,030,303  |        |   | 3,030     |   |             |  | $       | 1,815,151 
|at $.24 -
    22 June, 2006                       |  |              | 100,000    |        |   | 100       |   |             |  | $       | 23,900    
|at $.35 -
    10 August, 2006                     |  |              | 400,000    |        |   | 400       |   |             |  | $       | 139,600   
|at $.10 -
    26 August, 2006                     |  |              | 2,000,000  |        |   | 2,000     |   |             |  | $       | 198,000   
|at $.14 - 7
    September, 2006                   |  |              | 50,303     |        |   | 50        |   |             |  | $       | 6,950     
|at $.10 -
    10 September, 2006                  |  |              | 50,000     |        |   | 50        |   |             |  | $       | 4,950     
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|Net
    operating loss for                        |  |              |            |        |   |           |   |             |  |         |           
|the year
    ended October 31, 2006               |  |              |            |        |   |           |   |             |  |         |           
|BALANCE
    OCTOBER 31, 2006                      |  |              | 28,929,565 |        |   | 28,929    |   |             |  |         | 3,650,4755
|Net
    operating loss for                        |  |              |            |        |   |           |   |             |  |         |           
|the three
    months ended January 31, 2007       |  |              |            |        |   |           |   |             |  |         |           
|BALANCE
    JANUARY 31, 2007                      |  |              | 28,929,565 |        |   | 28,929    |   |             |  |         | 3,365,4755
|                                                  |  |              |            |        |   |           |   |             |  |         |           
|                                                  |  |              |            |        |   |           |   |             |  |         |           





The accompanying notes are an integral part of these financial
statements

---

QUADTECH
INTERNATIONAL, INC. AND SUBSIDIARIES

(Development Stage
Company)

NOTES TO FINANCIAL STATEMENTS

January 31, 2007

1. ORGANIZATION



The Company was incorporated under the laws of the State of
Nevada on June 17, 1997 with authorized capital stock of 200,000,000 shares at a
par value of $0.001.



On June 26, 2003 the Company acquired all the outstanding
stock of Covenant Corporation (Covenant). Covenant was incorporated in the State
of Nevada on May 10, 2002 for the purpose of developing tools to counteract the
online piracy of video, music and software files.



For financial statement purposes, the transaction was treated
as a reverse acquisition and a recapitalization with Covenant being treated as
the acquirer. The Company issued one share of its common stock or each of
Covenant's 12,590,500 outstanding shares. Immediately before acquisition the
Company had 617,744 shares outstanding and liabilities in excess of assets of
approximately $137,456. The transaction was accounted for as a purchase, with no
good will recognized, resulting in a deficiency of $137,456 which was reflected
as an adjustment to stockholders' equity on the acquisition date. All shares are
shown post reverse split.



On March 31, 2006 the Company changed the name of the company
to QuadTech International, Inc. and its public trading symbol has changed to
QTII. The Company also completed a one-for-ten reverse split of the Company's
common stock



This name change and new trading symbol are to better reflect
the company's new direction as a global developer and provider of mine-safety
solutions.



On May 8, 2006 the Company entered into an exclusive
worldwide sales and marketing agreement with iPackets International pursuant to
which QuadTech agreed to market and sell iPackets' mine-safety technologies.
However, on September 7, 2006 QuadTech announced that it had terminated the
agreement with iPackets International, thereby relinquishing the licensing
rights to iPackets' mine safety product. QuadTech's management determined that
the agreement with iPackets simply was not creating value for the company's
shareholders.

QuadTech, announced on the same day, September 7, 2006 that
it had acquired a 100 percent ownership stake in MRID Technologies ("MTech").
This acquisition included the rights to MTech's patent-pending Multiple Range
Identification ("MRID") asset tracking technology, which we consider to be the
next generation in Radio Frequency Identification ("RFID") technology. As part
of the agreement, MTech's management team is expected to join QuadTech to
continue to oversee manufacturing, research and development, and systems
installation and deployment, once the Company has raised sufficient finance to
proceed with this venture

First developed in the early 1970's, RFID technology uses
radio frequency waves to determine whether an object is or is not present.
Consequently, current RFID systems do not allow users to pinpoint the location
of tagged items.

MTech's MRID systems transmit multiple radio frequency codes,
which offer the added functionality of determining direction and proximity of
the tagged item or person in relation to the reader receiving its signal. As a
result, an MRID receiver is designed to determine the location of a tagged item,
making the new MRID systems invaluable in emergency situations or for
organizations with large numbers of mobile assets to protect.

---



QUADTECH
INTERNATIONAL, INC. AND SUBSIDIARIES

(Development Stage
Company)

NOTES TO FINANCIAL
STATEMENTS

January 31, 2007



Possible applications and target markets for MRID systems
include the law enforcement, military, fire rescue, livestock, motion picture,
sports, homeland security, and mining industries, as well as other first
response operations.



The Company is actively pursuing funding options in order to
pursue commercialization of the MRID technology.

We have not developed or marketed any products, do not have
any customers, and have not generated any revenue from operations to date.



2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES



Accounting Methods



The Company recognizes income and expenses based on the
accrual method of accounting.



Dividend Policy



The Company has not yet adopted any policy regarding payment
of dividends.



Basic and Diluted Net Income (Loss) Per Share



Basic net income (loss) per share amounts are computed based
on the weighted average number of shares actually outstanding, after the stock
split. Diluted net income (loss) per share amounts are computed using the
weighted average number of common shares and common equivalent shares
outstanding as if shares had been issued on the exercise of any common or
preferred share rights unless the exercise becomes anti-dilutive and then only
the basic per share amounts are shown in the report.



Principles of Consolidation



The accompanying consolidated financial statements include
the account of Covenant from its inception, and the Company for the period from
June 26, 2003, the date of the reverse acquisition. All significant
inter-company accounts and balances have been eliminated in consolidation.



Equipment



Equipment consists of computers and office improvements and
are stated at cost. Major additions are capitalized, while minor additions and
repairs, which do not extend the useful life of an asset, are expensed as
incurred. Depreciation is provided using the straight-line method of three and
five years.



Evaluation of Long-Lived Assets



The Company periodically reviews its long lived assets and
makes adjustments, if he carrying value exceeds the fair value.

---



QUADTECH
INTERNATIONAL, INC. AND SUBSIDIARIES

(Development Stage
Company)

NOTES TO FINANCIAL
STATEMENTS

January 31, 2007





2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes

The Company utilizes the liability method of accounting for
income taxes. Under the liability method deferred tax assets and liabilities are
determined based on the differences between financial reporting and the tax
bases of the assets and liabilities and are measured using the enacted tax rates
and laws that will be in effect, when the differences are expected to reverse.
An allowance against deferred tax assets is recognized, when it is more likely
than not, that such tax benefits will not be realized.



On January 31, 2007 the Company had a net operating loss
carryover of approximately $4,879,240 for income tax purposes, which includes
approximately $950,000 of loss carry forwards prior to the reverse acquisition
described above. The tax benefit of approximately $1,046,000 from the loss carry
forward has been fully offset by a valuation reverse because the future tax
benefit is undeterminable since the Company is unable to establish a predictable
projection of operating profits for future years.



The net operating loss carry forwards expire in various years
through October 31, 2013 for Canadian reporting and October 31, 2027 for United
States reporting.



Foreign Currency Translation



Part of the transactions of the Company were completed in
Canadian dollars and have been translated to US dollars as incurred, at the
exchange rate in effect at the time, and therefore, no gain or loss from the
translations is recognized. The functional currency is considered to be US
dollars.

Revenue Recognition



Revenue is recognized on the sale and delivery of a product
or the completion of a service provided.



Advertising and Market Development



The Company expenses advertising and market development costs
as incurred.



Financial Instruments



The carrying amounts of financial instruments are considered
by management to be their estimated fair values due to their short term
maturities.



Estimates and Assumptions



Management uses estimates and assumptions in preparing
financial statements in accordance with generally accepted accounting
principles. Those estimates and assumptions affect the reported amounts of the
assets and liabilities, the disclosure of contingent assets and liabilities, and
the reported revenues and expenses. Actual results could vary from the estimates
that were assumed in preparing these financial statements.



---





QUADTECH
INTERNATIONAL, INC. AND SUBSIDIARIES

(Development Stage
Company)

NOTES TO FINANCIAL
STATEMENTS (Continued)

January 31, 2007

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)



Comprehensive Income



The Company adopted Statement of Financial Accounting
Standards No. 130 which resulted in the showing of a temporary loss on
available-for-sale securities under the Stockholders' Deficiency. During the
year ended October 31, 2006 there was a decrease in the value of the available
-for-sale securities held by the Company, which was considered to be other than
temporary and therefore the amount of the decrease was expensed.



Recent Accounting Pronouncements



The Company does not expect that the adoption of other recent
accounting pronouncements will have a material impact on its financial
statements.



3. NOTE PAYABLE



On August 15, 1997 the Company received a loan from a
non-related party in the amount of $32,431. A legal action was started for
collection of the amount due by the Company and a consent judgment was given by
the Company agreeing to monthly payments of $672.26 including interest at 1%
above the HSBC Canada Bank prime rate with payments starting October 1, 1999. No
payments have been made and the note is in default, however, there has been no
further legal action started by the note holder. The note of $32,431 and its
accrued interest of $14,834 is shown in the balance sheet.



4. RELATED PARTY TRANSACTIONS



Certain related parties periodically advance funds to us.
These advances, which totaled approximately $78,843 at January 31, 2007 are
unsecured, non-interest bearing and due on demand.



5. CAPITAL STOCK



No Stock was issued in the quarter ended January 31, 2007



6. STOCK BASED COMPENSATION



There are no options at present



7. CONTINUING AND CONTINGENT LIABILITIES



The Company may be liable as a guarantor on a legal action
against a former subsidiary in an amount of $41,435 and is shown as part of the
accounts payables, which represents management's estimate of the potential
liability. Management believes the potential litigation would not result in any
material loss.

---





QUADTECH
INTERNATIONAL, INC. AND SUBSIDIARIES

(Development Stage
Company)

NOTES TO FINANCIAL
STATEMENTS (Continued)

January 31, 2007



8. GOING CONCERN

On the balance sheet date the Company did not have the working capital
necessary to service its debt and for its planned activity, which raises
substantial doubt about its ability to continue as a going concern.

Continuation of the Company in its planned activity is
dependent upon obtaining additional working capital and the management of the
Company has developed a strategy, which it believes will accomplish this
objective through receiving additional loans from related parties, additional
equity funding, and the settlement of debt due the running of the statute of
limitations, which will enable the Company to operate during the coming year.







---

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND

RESULTS OF OPERATIONS
OR PLAN OF OPERATION



The following discussion and analysis should be read in
conjunction with the balance sheet as of January 31, 2007 and statements of
operations for the three months ended January 31, 2007 and 2006included with
this Form 10-QSB.

Overview



We are a development stage company. We have no revenues and
an accumulated loss of approximately $3,928,807 from inception on May 10, 2002
through January 31, 2007. Our losses result primarily from the issuance of
common stock to various individuals and companies for assisting us with the
development of our products, marketing and general business strategy.

Liquidity and Capital Resources

At January 31, 2007, we have cash available of only $16 to
fund future expenses. We have funded our development stage operations to date
through the sale of our common stock and advances from shareholders. From
inception on May 10, 2002 through January 31, 2007, we have raised approximately
$100,500 through the sale of our common stock. Additionally, we have borrowed
approximately $78,841 from our shareholders during this period.



The Company is continuing to accrue interest on a note
payable in the amount of $47,265 as it does not have the funds needed to repay
the note - refer to note 3 in the financial statements. Likewise, it has no
immediate plans to repay the accrued rent in the amount of $41,435. With regard
to its accounts payable with an outstanding balance in the amount of $82,843,
the Company is seeking financing to enable it to repay this amount.

Our cash on hand resources as of January 31, 2007 are not
sufficient to satisfy our operating needs. In order to maintain our current
operations for the remainder of our fiscal year, , we expect we estimate that we
will require an additional $500,000 in funding. We currently have no sources of
financing identified, and there can be no assurance that financing will be
available in amounts or on terms acceptable to us, if at all. If we do not raise
or generate these funds, the implementation of our short-term and long-term
business plan will be delayed indefinitely.

Plan of Operation

QuadTech announced on May 8, 2006 that it had entered into an
exclusive worldwide sales and marketing agreement with iPackets International
pursuant to which Quadtech was to market and sell iPackets' mine-safety
technologies. However, on September 7, 2006 QuadTech announced that it had
terminated the agreement with iPackets International, thereby relinquishing the
licensing rights to iPackets' mine safety product. QuadTech's management
determined that the agreement with iPackets simply was not creating value for
the company's shareholders, and the management team felt it was time to consider
other alternatives.



Also September 7, 2006, Quadtech signed a letter of intent to
acquire a MRID Technologies ("MTech"). The proposed acquisition is subject to
Quadtech obtaining funds necessary to complete the acquisition. The proposed
acquisition would include the rights to MTech's patent-pending Multiple Range
Identification ("MRID") asset tracking technology, the next generation in Radio
Frequency Identification ("RFID").

Upon consummation of the proposed acquisition, MTech's
management team is expected to work with QuadTech to continue to oversee
manufacturing, research and development, and systems installation and
deployment.



First developed in the early 1970's, RFID technology uses
radio frequency waves to determine simply if an object is or is not present.
Consequently, current RFID systems do not allow users to pinpoint the location
of tagged items.



MTech's MRID systems are designed to transmit multiple radio
frequency codes, which offer the added functionality of determining direction
and proximity of the tagged item or person in relation to the reader receiving
its signal. As a result, an MRID receiver is designed to accurately determine
the location of a tagged item. The new MRID systems are designed for use in
emergency situations or for organizations with large numbers of mobile assets to
protect.



Potential applications and target markets for the MRID
systems include the law enforcement, military, fire rescue, livestock, motion
picture, sports, homeland security, and mining industries, as well as other
first response operations.

Critical Accounting Policies

Our critical accounting policies, including the assumptions
and judgments underlying them, are disclosed in the notes to the consolidated
financial statements. We have consistently applied these policies in all
material respects. At this stage of our development, these policies primarily
address matters of expense recognition. Management does not believe that our
operations to date have involved uncertainty of accounting treatment, subjective
judgment, or estimates, to any significant degree.

ITEM 3 - CONTROLS AND PROCEDURES

(a)   Evaluation of Disclosure Controls and
Procedures. As of the end of the period covered by this report, we conducted an
evaluation, under the supervision and with the participation of our chief
executive officer and chief financial officer of our disclosure controls and
procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange
Act). Based upon this evaluation, our chief executive officer and chief
financial officer concluded that our disclosure controls and procedures are
effective to ensure that information required to be disclosed by us in the
reports that we file or submit under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the Commission's
rules and forms.

(b)   Changes in internal controls.  
There was no change in our internal controls or in other factors that could
affect these controls during our last fiscal quarter that has materially
affected, or is reasonably likely to materially affect, our internal control
over financial reporting.

(c) Limitations on Effectiveness of Disclosure Controls and
Procedures.Disclosure controls and procedures cannot provide
absolute assurance of achieving financial reporting objectives because of their
inherent limitations. Disclosure controls and procedures is a process that
involves human diligence and compliance and is subject to lapses in judgment and
breakdowns resulting from human failures. Disclosure controls and procedures
also can be circumvented by collusion or improper management override. Because
of such limitations, there is a risk that material misstatements may not be
prevented or detected on a timely basis by disclosure controls and procedures.
However, these inherent limitations are known features of the financial
reporting process. Therefore, it is possible to design into the process
safeguards to reduce, though not eliminate, this risk.

---



PART II

Item 1. Legal Proceedings.

None.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None

Item 3. Defaults upon
Senior Securities.

On August 15, 1997 the Company received a loan from a
non-related party in the amount of $32,431. A legal action was started for
collection of the amount due by the Company and a consent judgment was given by
the Company agreeing to monthly payments of $672.26 including interest at 1%
above the HSBC Canada Bank prime rate with payments starting October 1, 1999. No
payments have been made and the note is in default, however, there has been no
further legal action started by the note holder. The note of $32,431 and its
accrued interest of $14,834 is shown in the balance sheet.

Item
4. Submission of Matters to a Vote of Security Holders.

None.

Item 5. Other
Information.

None.

Item 6. Exhibits.

(a) Exhibits



|31.1 | Certification by Chief Executive Officer pursuant to Rule 13a-14(a) or
    15d-14, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------





|31.2 | Certification by Chief Financial Officer pursuant to Rule 13a-14(a) or
    15d-14, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------





|32.1 | Certification by Chief Executive Officer pursuant to 18 U.S.C. Section 1350
    as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------





|32.2 | Certification by Chief Financial Officer pursuant to 18 U.S.C. Section 1350
    as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------



SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.





| |                                           |                   
| | ----------------------------------------- | ------------------
| | QuadTech International, Inc.             
| |                                           |                   
| | By:                                       | /s/ John
    Meier
| | John Meier                               
| | President
    and Chief Executive Officer







| |                             |                         
| | --------------------------- | ------------------------
| |                             | /s/ J.
    Roland Vetter
| | By:                         | Roland
    Vetter       
| | Chief
    Financial Officer