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 May 10, 2002 to January 31,
2007

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) 871-9031

(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 June 14, 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 April 30, 2007                                                                                                                  | 5      
|                                                                                                                                                                      |        
|Consolidated Statements of
    Operations for the six months ended April 30, 2007
    and
    2006, and the period May 10, 2002 (date of inception) to April 30, 2007 | 6      
|                                                                                                                                                                      |        
|Consolidated Statements of Cash
    Flows for the six months ended April 30, 2007
    and
    2006, and the period May 10, 2002 (date of inception) to April 30, 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
ACCOUNTANT



The Board of Directors

Meier Worldwide Intermedia, Inc.

We have reviewed the balance sheet of the above company as of April 30, 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.

"signed Madsen & Associates CPA's
Inc"

__________________________

Madsen & Associates CPA's Inc.

Salt Lake City, Utah

June 14, 2007





---



FINANCIAL STATEMENTS

The accompanying balance sheet of QuadTech International, Inc. and
Subsidiary at April 30, 2007 and statement of operations for the three and six
months ended April 30, 2007 and 2006, and the cash flowsfor the six
months ended April 30, 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 six months ended April 30, 2007 are not necessarily
indicative of the results that can be expected for the year ending October 31,
2007.



June 14, 2007

---



QUADTECH INTERNATIONAL INC. AND
SUBSIDIARY

( DEVELOPMENT STAGE COMPANY)

UNAUDITED







|CONSOLIDATED BALANCE SHEET
    as at:                                                       |  |   |               |   |   |             |  
|------------------------------------------------------------------------------------------- |  | - | ------------- | - | - | ----------- | -
|ASSETSCURRENT ASSETS                                                                        |  |   | 30 April 2007 |   |   | 31 Oct 2006 |  
|Cash                                                                                        |  | $ | 37            |   | $ | 30          |  
|Total
    Current Assets                                                                    |  | $ | 37            |   | $ | 30          |  
|                                                                                            |  |   |               |   |   |             |  
|OTHER
    ASSETSAvailable-for-sale securities                                               |  | $ | 390           |   | $ | 420         |  
|                                                                                            |  | $ | 427           |   | $ | 450         |  
|LIABILITIES AND STOCKHOLDERS' DEFICIENCYCURRENT LIABILITIES
    
    Note payable           |  | $ | 32,431        |   | $ | 32,431      |  
|Accrued
    interest payable                                                                |  | $ | 15,838        |   | $ | 13,846      |  
|Accounts
    payable                                                                        |  | $ | 100,432       |   | $ | 82,408      |  
|Accrued
    rent payable                                                                    |  | $ | 41,435        |   | $ | 41,435      |  
|Accounts
    payable - related parties                                                      |  | $ | 78,887        |   | $ | 68,822      |  
|Total Current
    Liabilities                                                               |  | $ | 269,023       |   | $ | 238,942     |  
|STOCKHOLDERS' DEFICIENCYCommon stock                                                        |  | $ | 28,929        |   | $ | 28,929      |  
|200,000,000 shares authorized, at $0.001 par value;28,929,565 shares issued and outstanding |  |   |               |   |   |             |  
|Capital in
    excess of par value                                                          |  | $ | 3,650,475     |   | $ | 3,650,475   |  
|Deficit
    accumulated during development stage                                            |  | $ | (3,948,000    | ) | $ | (3,917,896  | )
|Total
    Stockholders' Deficiency                                                          |  | $ | (268,595      | ) | $ | (238,492    | )
|                                                                                            |  | $ | 427           |   | $ | 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 AND SIX MONTHS APRIL
30, 2007 AND 2006 AND THE PERIOD

MAY 10, 2002 (DATE OF INCEPTION OF
SUBSIDIARY) TO APRIL 30, 2007

UNAUDITED



---

QUADTECH INTERNATIONAL INC. AND
SUBSIDIARY

(DEVELOPMENT STAGE COMPANY)





CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED APRIL 30,
2007 AND 2006 AND THE PERIOD

MAY 10, 2002 (DATE OF INCEPTION OF
SUBSIDIARY) TO APRIL 30, 2007

UNAUDITED

|                                                        |  |   |         |   |   | 10-May-02 |  
|------------------------------------------------------- |  | - | ------- | - | - | --------- | -
|                                                        |  |   | 30 Apr  |   |   | 30 Apr    |  
|                                                        |  |   | 2007    |   |   | 2006      |  
|CASH FLOWS FROM                                         |  |   |         |   |   |           |  
|OPERATING ACTIVITIES                                    |  |   |         |   |   |           |  
|Net loss                                                |  | $ | 30,104  | ) | $ | (38,081   | )
|Adjustments
    to reconcile net                        |  |   |         |   |   |           |  
|loss to net
    cash provided by                        |  |   |         |   |   |           |  
|operating
    activities                                |  | $ | -       |   | $ | -         |  
|Depreciation                                            |  | $ | -       |   | $ | 4,660     |  
|Unrealized
    Loss in Investment                       |  | $ | 30      |   | $ | -         |  
|Stock
    issued for services and                       |  | $ | -       |   | $ | -         |  
|expenses                                                |  | $ | -       |   | $ | 20,000    |  
|Changes in
    accounts receivables                     |  | $ | -       |   | $ | -         |  
|Changes in
    accounts payable                         |  | $ | 20,015  |   | $ | 13,385    |  
|Net Cash
    Provided (Used) in                         |  |   |         |   |   |           |  
|Operations                                              |  | $ | (10,059 | ) | $ | (36       | )
|                                                        |  |   |         |   |   |           |  
|CASH
    FLOWS FROM INVESTING                           |  |   |         |   |   |           |  
|ACTIVITIES                                              |  |   |         |   |   |           |  
|Purchase
    office equipment                           |  | $ | -       |   | $ | -         |  
|Purchase
    available-for-sale                         |  |   |         |   |   |           |  
|securities                                              |  | $ | -       |   | $ | -         |  
|                                                        |  | $ |         |   | $ |           |  
|                                                        |  |   |         |   |   |           |  
|CASH
    FLOWS FROM FINANCING                           |  |   |         |   |   |           |  
|ACTIVITIES                                              |  |   |         |   |   |           |  
|Proceeds
    from issuance of common                    |  |   |         |   |   |           |  
|Common
    stock and stock                              |  | $ | -       |   | $ | -         |  
|Advances
    from related parties                       |  | $ | 10,066  |   |   |           |  
|                                                        |  |   |         |   |   |           |  
|Net
    Increase (Decrease) in Cash                     |  | $ | 7       |   | $ | (36       | )
|Cash at
    Beginning of Period                         |  | $ | 30      |   | $ | 154       |  
|Cash at End
    of Period                               |  | $ | 37      |   | $ | 118       |  
|                                                        |  |   |         |   |   |           |  
|NON CASH
    FLOWS FROM OPERATIONS                      |  |   |         |   |   |           |  
|                                                        |  |   |         |   |   |           |  
|Issuance of
    580,000 shares common capital stock for |  |   |         |   |   |           |  
|Services -
    founders stock - 2002                    |  |   |         |   |   |           |  
|Contributions to capital - expenses - 2002              |  |   |         |   |   |           |  
|Issuance of
    61,774 shares common capital stock -    |  |   |         |   |   |           |  
|Acquisition
    of Covenant - 2003                      |  | $ | -       |   |   |           |  
|Issuance of
    657,500 shares common capital stock for |  |   |         |   |   |           |  
|Services
    and expenses                               |  |   |         |   |   |           |  
|Issuance of
    46,000 shares common capital stock      |  |   |         |   |   |           |  
|For
    services - 2004                                 |  |   |         |   |   |           |  
|Issuance of
    45,000 shares common capital stock      |  |   |         |   |   |           |  
|For
    services - 2005                                 |  | $ | -       |   |   |           |  
|Issuance of 
    7,730,303  shares common capital stock |  |   |         |   |   |           |  
|For
    services - 2006                                 |  |   |         |   |   |           |  
|                                                        |  |   |         |   |   |           |  



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 APRIL 30, 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 Six
    months ended April 30, 2007           |  |              |            |        |   |           |   |             |  |         |           
|BALANCE
    APRIL 301, 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

April 30, 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.

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. All shares from inception of the Company are shown post reverse split.

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.

However, 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

April 30, 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.

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

April 30, 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 April 30, 2007 the Company had a net operating loss carryover of
approximately $4,917,528 loss 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 $1,190,000 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)

April 30, 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
$15,838 is shown in the balance sheet.

4. RELATED PARTY TRANSACTIONS

Certain related parties periodically advance funds to us. These advances,
which totaled approximately $78,887 at April 30, 2007 are unsecured,
non-interest bearing and due on demand.

5. CAPITAL STOCK

No Stock was issued in the quarter ended April 30, 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)

April 30, 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 April 30, 2007 and statements of operations for the six
months ended April 30, 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 $3,948,000 from inception on May 10, 2002 through April
30, 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 April 30, 2007, we have cash available of only $37 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 April 30, 2007, we have raised approximately $100,500 through
the sale of our common stock. Additionally, we have borrowed approximately
$78,887 from our shareholders during this period.

The Company is continuing to accrue the interest on the note payable as it is
not in a position to repay this note. Likewise, it has no immediate plans to
repay the accrued rent. With regards to the accounts payable the company is
looking a alternative finance to allow it to repay the accounts payable.

Our cash on hand resources as of April 30, 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 QuadTech, announced on the same day, September 7, 2006 that it had
signed a letter of intent to acquired a 100 percent ownership stake in MRID
Technologies ("MTech"). On QuadTech has raised sufficient funds it will enter
into a definitive agrrement. This acquisition includes the rights to MTech's
patent-pending Multiple Range Identification ("MRID") asset tracking technology,
the next generation in Radio Frequency Identification ("RFID").

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
$15,838 is shown in the balance sheet.

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

None.

Item 5. Other Information.

Formation of Technical Advisory Board:

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:                                       | "Signed
    J Meier"
| | John Meier                               
| | President
    and Chief Executive Officer







| |                             |                       
| | --------------------------- | ----------------------
| |                             | "Signed
    JR Vetter"
| | By:                         | Roland
    Vetter     
| | Chief
    Financial Officer