U. S. Securities and Exchange Commission
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)

(X)      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

                 For the quarterly period ended January 27, 2007
                                                ----------------

( )      TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

 For the transition period from .......................to.......................

                         Commission file number: 0-26617

                   Jupiter Marine International Holdings, Inc.
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

               Florida                                      65-0794113
   -------------------------------                     -------------------
   (State or other jurisdiction of                       (IRS Employer
    incorporation or organization)                     Identification No.)

                3391 S. E. 14th Avenue, Port Everglades, FL 33316
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

                                  954-523-8985
--------------------------------------------------------------------------------
                           (Issuer's telephone number)


--------------------------------------------------------------------------------
     (Former name, former address and former fiscal year, if changed since
                                  last report)

         Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of the latest practicable date: As of March 6, 2007:
18,863,861 shares of common stock.

         Transitional Small Business Disclosure Format (check one):

         Yes  [ ]    No  [X]
<PAGE>
<TABLE>
<CAPTION>
                   JUPITER MARINE INTERNATIONAL HOLDINGS, INC.
                                                                                            Page
                                                                                            ----
<S>               <C>                                                                        <C>
Part I.           Financial Information                                                       3
-------           ---------------------

Item 1.           Consolidated Financial Statements                                           3

                  Balance Sheets as of January 27, 2007 and July 29, 2006                     3

                  Statements of Operations for the three months and six months
                  ended January 27, 2007 and January 28, 2006                                 4

                  Statements of Cash Flows for the six months ended January 27,
                  2007 and January 28, 2006                                                   5

                  Notes to consolidated financial statements                                  6

Item 2.           Management's Discussion and Analysis of Financial Condition
                  and Results of Operations                                                   6

Item 3.           Controls and Procedures                                                     10

Part II.          Other Information                                                           11
--------          -----------------

Item 1.           Legal Proceedings                                                           11

Item 2.           Unregistered Sales of Equity Securities and Use of Proceeds                 11

Item 3.           Defaults Upon Senior Securities                                             11

Item 4.           Submissions of Matters to a Vote of Security Holders                        11

Item 5.           Other Information                                                           11

Item 6.           Exhibits                                                                    11
</TABLE>




















                                       2
<PAGE>
<TABLE>
<CAPTION>
PART I   FINANCIAL INFORMATION
Item 1.  Consolidated Financial Statements


                   JUPITER MARINE INTERNATIONAL HOLDINGS, INC
                                AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS

                                                                         January 27,       July 29,
                                                                            2007             2006
                                                                            ----             ----
                            ASSETS                                       (unaudited)       (audited)
                            ------
<S>                                                                   <C>              <C>
CURRENT ASSETS:
     Cash and cash equivalents                                        $      209,655   $     315,235
     Accounts receivable                                                      39,230         175,992
     Employee receivables, net                                               134,570         134,570
     Inventory                                                             2,916,593       2,775,674
     Prepaid expenses                                                        159,232          82,960
                                                                      ---------------  --------------

         Total current assets                                              3,459,280       3,484,431

PROPERTY AND EQUIPMENT:
     Boat molds                                                            2,546,799       2,432,762
     Machinery and equipment                                                 617,160         605,576
     Leasehold improvements                                                  738,020         683,270
     Office furniture and equipment                                          103,950         103,950
                                                                      ---------------  --------------
                                                                           4,005,929       3,825,558
     Less accumulated depreciation and amortization                        2,121,499       1,874,274
                                                                      ---------------  --------------

     Property and equipment, net                                           1,884,430       1,951,284
                                                                      ---------------  --------------

OTHER ASSETS                                                                  63,726          34,957
                                                                      ---------------  --------------

       TOTAL ASSETS                                                   $    5,407,436   $   5,470,672
                                                                      ===============  ==============
                LIABILITIES AND SHAREHOLDERS' EQUITY
                ------------------------------------

CURRENT LIABILITIES:
     Accounts payable                                                 $    1,461,718   $   1,164,070
     Accrued expenses                                                        160,081         209,625
     Customer deposits                                                        28,022          96,466
     Warranty reserve                                                        102,765         100,118
     Capital lease obligation                                                 24,687          24,687
     Notes payable                                                           325,000         550,000
                                                                      ---------------  --------------
        Total current liabilities                                          2,102,273       2,144,966

LONG-TERM LIABILITIES:
     Accrued interest due shareholders                                       144,066         143,351
     Notes payable to shareholders                                           350,000         350,000
     Capital lease obligation, less current portion                           30,153          42,315
                                                                      ---------------  --------------
                                                                             524,219         535,666
                                                                      ---------------  --------------

        TOTAL LIABILITIES                                                  2,626,492       2,680,632
                                                                      ---------------  --------------
SHAREHOLDER'S EQUITY:
     Common stock, $.001 par value, 50,000,000 shares authorized,
     18,863,861 issued and outstanding                                        18,864          18,864
     Additional paid-in capital                                            4,178,259       4,105,197
     Deficit                                                              (1,416,179)     (1,334,021)
                                                                      ---------------  --------------
        TOTAL SHAREHOLDER'S EQUITY                                         2,780,944       2,790,040
                                                                      ---------------  --------------
     TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                       $    5,407,436   $   5,470,672
                                                                      ===============  ==============
</TABLE>
           See accompanying notes to consolidated financial statements

                                       3
<PAGE>
<TABLE>
<CAPTION>
                   JUPITER MARINE INTERNATIONAL HOLDINGS, INC.
                                 AND SUBSIDIARY

                        CONSOLIDATED STATEMENTS OF INCOME
                                   (UNAUDITED)

                                                     Three Months Ended                        Six Months Ended
                                             January 27,           January 28,          January 27,          January 28,
                                                 2007                 2006                 2007                  2006
                                                 ----                 ----                 ----                  ----
<S>                                          <C>                  <C>                  <C>                   <C>
NET SALES                                    $  3,688,933         $   3,439,337        $   7,581,157         $  6,573,637

COST OF SALES (exclusive of depreciation)       3,056,180             2,613,919            6,162,608            4,968,712
                                             -------------        --------------       --------------        -------------

   GROSS PROFIT                                   632,753               825,418            1,418,549            1,604,925
                                             -------------        --------------       --------------        -------------

OPERATING EXPENSES:
 Selling and marketing                            126,581               161,313              269,913              272,667
 General and administrative                       402,999               412,062              891,064              772,813
 Depreciation and amortization                    136,505                57,014              246,713              139,684
                                             -------------        --------------       --------------        -------------

    Total operating expenses                      666,085               630,389            1,407,690            1,185,164
                                             -------------        --------------       --------------        -------------

OTHER INCOME (EXPENSE):
Interest expense                                  (55,910)              (14,933)             (98,510)             (30,817)
Impairment of assets                                    -               (73,844)                   -              (73,844)
Other income                                        2,273                10,158                5,593               22,072
                                             -------------        --------------       --------------        -------------

      Total other income  (expense)               (53,637)              (78,619)             (92,917)             (82,589)

NET INCOME BEFORE INCOME TAXES                    (86,969)              116,410              (82,058)             337,172

INCOME TAX EXPENSE                                      -                     -                    -                    -
                                             -------------        --------------       --------------        -------------

NET INCOME                                        (86,969)              116,410              (82,058)             337,172

 Dividends on preferred stock                           -                     -                    -                    -


NET INCOME APPLICABLE TO COMMON
SHAREHOLDERS                                 $    (86,969)        $     116,410              (82,058)             337,172
                                             =============        ==============       ==============        =============

Basic and diluted net income per
   common share
       Basic                                 $      (0.00)        $        0.01        $       (0.00)        $       0.02
                                             =============        ==============       ==============        =============
       Diluted                               $      (0.00)        $        0.01        $       (0.00)        $       0.02
                                             =============        ==============       ==============        =============

Weighted average number of shares
  of common stock outstanding
      Basic                                    18,863,861            16,372,493           18,863,861           15,964,009
                                             =============        ==============       ==============        =============
      Diluted                                  19,863,861            18,372,493           19,863,861           17,964,009
                                             =============        ==============       ==============        =============
</TABLE>

           See accompanying notes to consolidated financial statements

                                       4
<PAGE>
<TABLE>
<CAPTION>
                   JUPITER MARINE INTERNATIONAL HOLDINGS, INC.
                                AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                            FOR THE SIX MONTHS ENDED
                                   (UNAUDITED)

                                                                          January 27,        January 28,
                                                                             2007                2006
                                                                             ----                ----
<S>                                                                       <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (Loss) Income                                                         $   (82,158)     $      337,172
Adjustments to reconcile net income to net cash
 provided by operating activities:
     Depreciation and amortization                                            246,713             139,684
     Options issued as compensation                                            73,062                   -
     Impairment of assets                                                           -              78,844
     Issuance of common shares to pay expenses                                      -             150,000
     Decrease (increase) in:
        Accounts receivable                                                   136,762              24,703
        Inventory                                                            (140,919)           (474,924)
        Prepaid expenses                                                      (76,272)             48,440
        Other assets                                                          (28,769)                440
     Increase (decrease) in:
        Accounts payable                                                      297,648             400,472
        Accrued expenses                                                      (49,544)             (1,497)
        Accrued interest payable                                                                   13,046
        Customer deposits                                                     (68,444)            (20,179)
        Warranty reserve                                                        2,647               2,478
                                                                          ------------     ---------------

          Net cash provided by operating activities                           310,726             698,679
                                                                          ------------     ---------------


CASH FLOWS FROM INVESTING ACTIVITIES:
        Purchase of property and equipment                                   (179,856)           (749,074)
                                                                          ------------     ---------------

          Net cash used in investing activities                              (179,856)           (749,074)

CASH FLOWS FROM FINANCING ACTIVITIES:
        Borrowing on notes payable and long term debt                         150,000             160,000
        Payment on notes payable and long term debt                          (375,000)           (270,000)
        Payments on capital lease obligations                                 (12,165)                  -
                                                                          ------------     ---------------

          Net cash used in financing activities                              (237,165)           (110,000)
                                                                          ------------     ---------------

NET DECREASE IN CASH AND CASH EQUIVALENTS                                    (106,295)           (160,395)

CASH AND CASH EQUIVALENTS - Beginning of the period                           315,235             356,361
                                                                          ------------     ---------------

CASH AND CASH EQUIVALENTS - End of the period                             $   208,940      $      195,966
                                                                          ============     ===============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
        Cash paid for interest                                            $    20,000      $        7,771
                                                                          ============     ===============
</TABLE>
           See accompanying notes to consolidated financial statements

                                       5
<PAGE>
                   Jupiter Marine International Holdings, Inc.
                   Notes to Consolidated Financial Statements
                                   (UNAUDITED)

Item 1. Basis of Presentation

         The accompanying unaudited consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with instructions to Form 10-QSB and Regulation S-B.
Accordingly, they do not include all of the information and footnotes required
by generally accepted accounting principles for complete financial statements.
In the opinion of management, all adjustments, consisting of normal recurring
accruals considered necessary for a fair presentation have been included.
Operating results for the six months ended January 27, 2007, are not necessarily
indicative of the results that may be expected for the year ending July 28,
2007. For further information, refer to the consolidated financial statements
and footnotes thereto included in the Company's annual report on Form 10-KSB for
the year ended July 29, 2006.

         In order to maintain consistency and comparability between periods
presented certain amounts have been reclassified from the previously reported
financial statements in order to conform to the financial statement presentation
of the current period.

         The consolidated financial statements include Jupiter Marine
International Holdings, Inc. and its wholly owned subsidiary, Jupiter Marine
International, Inc. All inter-company balances and transactions have been
eliminated.

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

General

         Jupiter Marine International Holdings, Inc. (JMIH), a Florida
corporation, was incorporated on May 19, 1998. On May 26, 1998, JMIH acquired
all of the outstanding shares of common stock of Jupiter Marine International,
Inc. (JMI), a boat manufacturing company, which was incorporated under the laws
of the State of Florida on November 7, 1997. JMIH and JMI will sometimes be
collectively referred to as the "Company". The Company's principal offices and
manufacturing facilities are located in Ft. Lauderdale, Florida. The Company's
Web site address is www.jupitermarine.com.

         The Company designs, manufactures and markets a diverse mix of high
quality sportfishing boats under the Jupiter brand name. The product line, all
powered with outboard engines, currently consists of six models:















                                       6
<PAGE>
         38' Forward Seating Center Console
         38' Open Center Console
         31' Open Center Console
         31' Cuddy Cabin
         31' Forward Seating Center Console
         29' Forward Seating Center Console

         Our new 38' Open Center Console was adapted from our very popular 38'
Forward Seating Center Console and is targeted for the serious offshore
fisherman. It was received very well by both our dealers and retail customers
when it was shown at several winter boat shows.

         The Company plans to grow the business by the addition of new features
on present models, the introduction of new models and expansion of its Palmetto,
Florida facility. The Company would consider an acquisition candidate if their
products would complement those offered by the Company and the result would
enhance the service level provided by the Company. There are no discussions with
any potential candidates at this time, nor has the Company identified any
acquisition candidates.

         Management's discussion and analysis contains various "forward-looking
statements" within the meaning of the Securities and Exchange Act of 1934. Such
statements consist of any statement other than a recitation of historical fact
and can be identified by the use of forward-looking terminology such as "may,"
"expect," "anticipate," "estimate" or "continue" or use of negative or other
variations or comparable terminology.

         The Company cautions that these statements are further qualified by
important factors that could cause actual results to differ materially from
those contained in the forward-looking statements that these forward-looking
statements are necessarily speculative, and there are certain risks and
uncertainties that could cause actual events or results to differ materially
from those referred to in such forward-looking statements.

Net Sales

         The Company's net sales were $3,688,933 for the three months ended
January 27, 2007, an increase of $249,596 (or 7.3%) as compared to $3,439,337
for the same quarter of last year. For the six months ended January 27, 2007,
the Company's net sales were $7,581,157, an increase of $1,007,520 (or 15.3%) as
compared to $6,573,637 for the same six-month period of last year. Our new
Palmetto facility, which was not manufacturing boats until the fourth quarter of
fiscal year 2006, and manufactures only the new 29' Forward Seating Center
Console, contributed $1,370,008 and $2,717,284, respectively, for the quarter
and six months ended January 27, 2007. The effects of higher fuel prices, higher
interest rates, increases in cost of raw materials and lower consumer confidence
has contributed to a slow down in the marine industry, which has tempered our
sales growth. As such, demand for our products has materially decreased. Dealer
inventory at January 27, 2007 was approximately four months supply compared to
an approximate three months supply at the same time last year. Our order backlog
has been reduced to approximately six weeks compared to six months at the same










                                       7
<PAGE>
time last year. The Company anticipates this slow down to continue throughout
the remainder of calendar year 2007. We continually monitor activity at our
dealerships and have and will continue to adjust production to meet consumer
demand.

Cost of Sales and Gross Profit

         Cost of sales for the three months ended January 27, 2007 was
$3,056,180 resulting in $632,753 of gross profit or 17.2% of net sales. For the
same quarter of last year cost of sales was $2,613,919 and gross margin was
$825,418 or 24.0% of net sales. Cost of sales for the six months ended January
27, 2007 was $6,162,608 and gross profit was $1,418,549 or 18.7% of net sales.
For the six months ended January 28, 2006, cost of sales was $4,968,712 and
gross profit was $1,604,925 or 24.4% of net sales. A shift in sales mix to the
smaller lower gross margin 29' Forward Seating Center Console has significantly
contributed to the lower gross margin. The increased cost of raw materials has
also negatively affected gross margins. Management believes that any increase in
the selling prices of our models at this time will have an adverse affect on
sales. Cost associated with running two manufacturing facilities, both operating
below capacity, has also adversely affected gross margins.

Selling, General and Administrative Expenses

         Selling and marketing expenses were $126,581, or 3.4% of net sales for
the three months ended January 27, 2007 as compared to $161,313,or 4.7% of net
sales for the same quarter of last year. For the six months ended January 27,
2007 selling and marketing expenses were $269,913, or 3.6% of net sales as
compared to $272,667, or 4.1% of net sales for the same six months of last year.
Boat show expenditures exceeded last year for the quarter and six months by
approximately $19,000 and $24,500 respectively. Advertising and brochure cost
were down compared to last year for the quarter and six months by approximately
$36,000 and $26,000 respectively.

         General and administrative expenses were $402,999, or 10.9 % of net
sales for the three months ended January 27, 2007 compared to $412,062 or 12.0%
of net sales for the same quarter of last year. For the six months ended January
27, 2007 general and administrative expenses were $891,064, or 11.8% of net
sales as compared to $772,813 or 11.8% of net sales for the same six months of
last year. The Company recorded compensation cost of $34,472 and $73,062 for the
quarter and six months ended January 27, 2007 as a result of adopting the
provisions of Financial Accounting Standards No. 123R, Share-Based Payments. No
such cost was required to be recorded during the same period of last year
because prior to January 29, 2006, the Company accounted for its share-based
compensation plan under the measurement and recognition provisions of Accounting
Principles Board Opinion No. 25, Accounting for Stock Issued to Employees, and
related Interpretations, as permitted by the Statement of Financial Accounting
Standards No. 123, Accounting for Stock-Based Compensation (SFAS No. 123).
Accordingly, share-based compensation was included as a pro forma disclosure in
the financial statement footnotes. Professional fees for the quarter and six
months ended January 27, 2007 were approximately $48,000 and $45,000 less than
the same periods of last year.










                                       8
<PAGE>
         Depreciation and amortization expense increased for the quarter and six
months ended January 27, 2007 by approximately $79,000 and $107,000
respectively, as compared to the prior year periods, due to the purchase of
equipment and leasehold improvements needed to bring the Palmetto facility
online. Tooling cost associated with the new 29' Forward Seating Center Console
also increased depreciation expense.

Interest expense

         Interest expense increased for the quarter and six months ended January
27, 2007 by approximately $41,000 and $68,000 due to higher borrowings on the
line of credit and financing outboard engine inventories.

Liquidity and Capital Resources

         Cash and cash equivalents at January 27, 2007 were $209,655 as compared
to $315,235 at July 29, 2006. Working capital at January 27, 2007 was $1,357,007
compared to $1,339,465 at July 29, 2006.

         The Company anticipates that cash generated from operations should be
sufficient to satisfy its contemplated cash requirements for its current
operations for at least the next twelve months. Approximately $200,000 of
additional equipment, primarily consisting of ventilation equipment and overhead
lifting cranes, will be needed to complete the initial phase of development of
the Company's Palmetto facility. It is anticipated that funds for this equipment
will be provided from operations and an increase in the Company's credit
facilities.

         Net cash provided by operating activities for the six months ended
January 27, 2007 was $310,726 compared to $698,679 of cash provided by operating
activities during the six months ended January 28, 2006.

         Inventories increased by $140,919 at January 27, 2007 compared to July
29, 2006 from higher work in process primarily related to the 29' Forward
Seating Center Console model. The increase in inventory was more than offset by
a $297,647 increase in accounts payable.

         Approximately $180,000 of equipment was purchased during the six months
ended January 27, 2007 primarily consisting of new molds. Expenditures for new
molds should increase during the next twelve months as the Company continues to
develop new products. Expenditures for equipment and leasehold improvements will
increase as the new Palmetto facility is completed.

         The number and level of employees at January 27, 2007 should be
adequate to fulfill the production schedule.

         As disclosed above, the effects of higher fuel prices, higher interest
rates, increases in cost of other raw material and lower consumer confidence has
contributed to a slow down of the marine industry which has tempered our sales
growth. While we have had limited success in controlling our operational
expenses and we continue to examine ways to reduce costs on a going-forward










                                       9
<PAGE>
basis, as a public company we are constantly faced with increasing costs and
expenses to comply with SEC reporting obligations. We may be required in fiscal
2007 to comply with the new annual internal control certification pursuant to
Section 404 of the Sarbanes-Oxley Act of 2002 and the related SEC rules. We
expect that these and other compliance costs of a public company will increase
significantly. In addition, our stock has historically been, and continues to
be, relatively thinly traded, providing little liquidity for our shareholders.
As a result of the foregoing, we have, from time-to-time considered, and expect
from time-to-time to continue to consider strategic alternatives to maximize
shareholder value.

Item 3.  Controls and Procedures

Evaluation of disclosure controls and procedures

         The management of the Company, under the supervision and with the
participation of the Company's Chief Executive Officer and Chief Financial
Officer, has evaluated the effectiveness of the Company's disclosure controls
and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under
the Securities Exchange Act of 1934) as of the end of the period covered by this
Quarterly Report on Form 10-QSB. Disclosure controls and procedures include,
without limitation, controls and procedures designed to ensure that information
required to be disclosed by a company in the reports that it files or submits
under the Exchange Act is accumulated and communicated to the Company's
management, including its principal executive and principal financial officers,
as appropriate to allow timely decisions regarding required disclosure.
Management recognizes that any controls and procedures, no matter how well
designed and operated, can provide only reasonable assurance of achieving their
objectives and management necessarily applies its judgment in evaluating the
cost-benefit relationship of possible controls and procedures. Based on this
evaluation, the Chief Executive Officer and Chief Financial Officer have
concluded that, as of the end of the period covered by this report, the
Company's disclosure controls and procedures were effective.

Changes in internal controls

         No changes in the Company's internal control over financial reporting
occurred during the period covered by this report that has materially affected,
or is reasonably likely to materially affect, the Company's internal controls
over financial reporting.





















                                       10

<PAGE>
PART II  OTHER INFORMATION

Item 1.  Legal Proceedings

         None.

Item 2.
         None.

Item 3.  Defaults Upon Senior Securities

         None.

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

         None.

Item 5.  Other Information

         None.

Item 6.  Exhibits

         (a) Exhibits required by Item 601 of Requlation S-B

         31.1     Rule 13a-14(a)/15d-4(a) Certification of Principal Executive
                  Officer
         31.2     Rule 13a-14(a)/15d-4(a) Certification of Principal Financial
                  Officer
         32.1     Section 1350 Certification of Principal Executive Officer
         32.2     Section 1350 Certification of Principal Financial Officer






























                                       11
<PAGE>
                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the Registrant
caused this Report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                 JUPITER MARINE INTERNATIONAL HOLDINGS, INC.


Date: March 9, 2007              By: /s/Carl Herndon
                                    -----------------------------------------
                                    Carl Herndon, Chief Executive Officer
                                    (Principal Executive Officer)


Date: March 9, 2007              By: /s/Lawrence Tierney
                                    -----------------------------------------
                                    Lawrence Tierney, Chief Financial Officer
                                    (Principal Financial Officer)








































                                       12