UNITED STATES
                       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 December 31, 2004

[   ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
      For the transition period from ________________ to _________________

                           Commission file number  0-28555

                               KORE HOLDINGS, INC.
  -----------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

            NEVADA                                  86-0960464
------------------------------               ----------------------------
(State or other jurisdiction of         (IRS Employer Identification No.)
incorporation or organization)


                   41667 Yosemite Pines Dr., Oakhurst CA 93644
  -----------------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (559) 692-2474
          -------------------------------------------------------------
                          (Issuer's telephone number)


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


                      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: 4,919,422 Common Shares $0.001 par
value as of December 31, 2004

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [ X ]


<PAGE>


                         PART I -- FINANCIAL INFORMATION

Item 1.  Financial Statements.

The information required by Item 310(b) of Regulation S-B is attached hereto as
Exhibit One.

Item 2.  Management's Discussion and Analysis or Plan of Operation.

THE FOLLOWING DISCUSSION OF THE FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF
THE COMPANY SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND
NOTES THERETO INCLUDED ELSEWHERE IN THIS REPORT.

THIS DISCUSSION CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE RISKS AND
UNCERTAINTIES, AND THE COMPANY'S ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE
ANTICIPATED IN THESE FORWARD-LOOKING STATEMENTS AS A RESULT OF CERTAIN FACTORS,
INCLUDING, BUT NOT LIMITED TO COMPETITION AND OVERALL MARKET AND ECONOMIC
CONDITIONS.

RESULTS OF CONTINUING OPERATIONS

Restatement

The Company has amended its previously issued condensed consolidated financial
statements for the three months ended December 31, 2003. The Company has amended
these condensed consolidated financial statements to reclassify $711,628
previously recorded as reversal of payables, to reclassify a portion of its
goodwill acquired in the First Washington Corporation transaction as restricted
cash in the amount of $172,428 and has reclassified $347,326 previously
classified as notes receivable to general and administrative expenses. These
transactions resulted in a decrease in the accumulated deficit to ($4,843,875)
at September 30, 2003. In addition for the three months ended December 31, 2004,
the Company has reclassified $4,500 previously classified as notes receivable to
accrued expenses. This transaction resulted in no change to its previously
stated net income and accumulated deficit for the three-month period.

Management Discussion Snapshot

The following table sets forth certain of the Company's summary selected
operating and financial data. The following table should be read in conjunction
with all other financial information and analysis presented herein including the
Condensed Consolidated Financial Statements for the three months ended December
31, 2004 and December 31, 2003.

         Summary Selected Statements Operating and Other Financial Data

                                                          Three Months Ended
                                                              December 31
                                                           2004          2003
      Revenue                                      $      835,851   $   612,172
      Cost of revenue                                     375,740       371,056
                                                   ---------------- ------------

      Gross profit                                        260,111       241,116
      Gross profit margin                                     31%           39%
      Operating Expenses                                  274,378       205,883
                                                   ---------------- -----------

      Income from
          continuing operations                    $      (14,267)  $    35,233
                                                   ================ ============

      Earnings per share per
          share of common stock                    $           (-)  $      0.01
                                                   ================  ===========

      Weighted common shares
          Outstanding                                    4,919,422    4,419,422
                                                   ================  ===========

      Current assets                               $       336,725  $   306,568
      Property and Equipment                             5,780,569    5,789,769
      Other assets                                      17,522,065    3,501,986
                                                   ---------------- ------------

      Total assets                                 $    23,638,785  $ 9,598,323
                                                   ================ ============

Revenue and Expenses

For the three months ended December 31, 2004, the Company had revenue of
$835,851, a net loss from continuing operations of $(14,267) and net loss per
common share from continuing operations of $(0.00) based on a weighted average
of 4,919,422 common shares outstanding. All of the Company's revenue was
generated from its mortgage business. The Company's revenue is not dependent on
any key customers.

For the three months ended December 31, 2003, the Company had revenue of
$612,172, a net profit from continuing operations of $35,233 and a net profit
per common share from continuing operations of $0.01 based on a weighted average
of 4,419,442 common shares outstanding. All of the Company's revenue was
generated from its mortgage business. The Company's revenue is not dependent on
any key customers.

Revenue in the three months ended December 31, 2004 was $835,851 compared to
$612,172 in the quarter ended December 31, 2003. This is an increase of $223,679
from period to period. This increase in revenue is primarily attributable to
increased sales.

Net loss from continuing operations for the three months ended December 31,
2004, was $(14,267) or $(0.00) in loss per common share based on a weighted
average of 4,919,422 common shares outstanding compared with net income from
continuing operations of $35,233 or $0.01 in earnings per common share based on
a weighted average of 4,419,442 common shares outstanding. for the three months
ended December 31, 2003. This is an increase in net loss of $0.01 per common
share from period to period. This increase in loss is primarily attributable to
increases in operating expenses.

Assets and Liabilities

Total other assets for the three months ended December 31, 2004, was $17,522,065
compared to total other assets for the three months ended December 31, 2003, of
$3,501,986. This is an increase in total other assets of $14,020,079 from period
to period. This increase in total other assets is the result of the acquisition
of coal tract #4 of the Fiatt coal mine in Fulton County, Illinois. The tract
consists of approximately 100 acres of land and surface area with a tonnage of
4,356,000 tons of coal fines having a thickness of a 50 foot average using 200
pounds/sht tn and which are certified and appraised at $69,696,020. The Company
issued 13,635,999 shares of its Class B convertible preferred stock valued at
$14,045,079 to acquire the land and coal.

                          PART II -- OTHER INFORMATION

Item 1.  Legal Proceedings.

There are no pending or threatened legal proceedings against the Company or any
of its subsidiaries.

Item 2.  Changes in Securities.

The Company issued 13,635,999 shares of its Class B convertible preferred stock
valued at $14,045,079 to acquire the land and coal described above.


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 and Reports on Form 8-K.

On May 30, 2002, the Company filed a Form 8-K to report the acquisition of First
Washington Financial Corporation.

On January 18, 2005, the Company filled an Amended Form 8-K amending its Form
8-K filed on May 30, 2002, to report the acquisition of First Washington
Financial Corporation.

INDEX TO EXHIBITS.

EXHIBIT
NUMBER      DESCRIPTION OF DOCUMENT
-------------------------------------------------------
     1      KORE HOLDINGS, INC AND SUBSIDIARIES FINANCIAL STATEMENTS

                                   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.

                               KORE HOLDINGS, INC.
                               (Registrant)

Date February  24, 2005        /s/Denis C. Tseklenis
     ------------------        ----------------------
                               Denis Costa Tseklenis
                               Chief Executive Officer
                               Chairman of the Board



<PAGE>

EXHIBIT 1



                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)

                             CONDENSED CONSOLIDATED
                              FINANCIAL STATEMENTS

                           DECEMBER 31, 2004 AND 2003



<PAGE>



                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)

              INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


CONDENSED CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED):


BALANCE SHEETS AS OF DECEMBER 31, 2004 (UNAUDITED)
    AND SEPTEMBER 30, 2004 (AUDITED)

STATEMENTS OF OPERATION FOR THE THREE MONTHS ENDED
    DECEMBER 31, 2004 AND 2003 (UNAUDITED)

STATEMENTS OF CASH FLOW FOR THREE MONTHS ENDED
    DECEMBER 31, 2004 AND 2003 (UNAUDITED)


NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

<PAGE>


                               KORE HOLDINGS, INC.
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
                      CONDENSED CONSOLIDATED BALANCE SHEETS
          DECEMBER 31, 2004 (UNAUDITED)AND SEPTEMBER 30, 2004 (AUDITED)

                                     ASSETS




                                                   (Unaudited)     (Audited)
                                                  December 31,    September 30,
                                                      2004           2004
                                                   ------------   -------------
Current Assets:
  Cash and cash equivalents                        $,  2,426         $ 272,843
  Commissions receivable                             333,725            33,725
                                                   ------------    -------------
                        Total Current Assets         336,151           306,568

Property and equipment, net                        5,780,569          5,789,769

Other Assets:
  Land and Coal Reserves                          14,045,079                  -
  Restricted Cash                                    234,240            234,240
  Goodwill                                         2,859,412          2,859,412
  Intangible Asset - Net                             383,334            408,334
                                                  -----------     -------------
                        Total Other Assets        17,552,065          3,501,986
                                                  -----------     -------------
                        Total Assets             $23,638,785         $9,598,323
                                                  ===========     =============

               The accompanying notes are an integral part of the
                       consolidated financial statements.



<PAGE>


                               KORE HOLDINGS, INC.
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
                      CONDENSED CONSOLIDATED BALANCE SHEETS
          DECEMBER 31, 2004 (UNAUDITED)AND SEPTEMBER 30, 2004 (AUDITED)


                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

                                                  (Unaudited)     (Audited)
                                                  December 31,    September 30,
                                                      2004           2004
                                                  ----------      -------------
Current Liabilities:
  Accounts payable                                   $ 61,838         $  61,838
                                                  ----------      -------------
                Total Current Liabilities              61,838            61,838

Commitments and Contingencies

Stockholders' Equity (Deficit):
  Class A Preferred Stock, $.001 par value,
  10,000,000 shares authorized at December 31,
  2004 and September 30, 2004, respectively,
  and 1,000,000 issued and outstanding at December
  31, 2004 and September 30, 2004 respectively          1,000             1,000

  Class B Preferred Stock, no par value,
  90,000,000 and 125,000 shares authorized at
  December 31, 2004 and September 30, 2004,
  respectively, and 13,635,999 shares issued
  and outstanding at December 31, 2004 and
  September 30, 2004, respectively                          -                 -

  First Washington Class A Preferred Stock,
  no par value, 500,000 shares authorized at
  December 31, 2004 and September 30, 2004,
  respectively, and 500,000 shares issued and
  outstanding at December 31, 2004 and September
  30, 2004, respectively                                    -                 -

  Common Stock, $.001 par value, 400,000,000
  shares authorized at December 31, 2004 and
  September 30, 2004, respectively, and
  4,919,422 shares issued and outstanding at
  December 31, 2004 and September 30, 2004,
  respectively                                          4,919             4,919

  Additional paid-in capital                       28,347,976        14,293,247
  Accumulated deficit                              (4,776,948)       (4,762,681)
                                                  ------------       -----------
      Total stockholders' equity                   23,576,947         9,536,485
                                                 ------------       -----------

  Total Liabilities and Stockholders'
  Equity (Deficit)                               $ 23,638,785        $9,598,323
                                                 ============       ===========


               The accompanying notes are an integral part of the
                       consolidated financial statements.



<PAGE>


                               KORE HOLDINGS, INC.
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATION
              FOR THE THREE MONTHS ENDED DECEMBER 31, 2004 AND 2003

                                                                      (Restated)
                                                             2004         2003
                                                            ----------  --------

Revenue                                                   $   835,851 $ 612,172

Cost of Revenue                                               575,740   371,056
                                                           -----------  --------

Gross Profit                                                  260,111   241,116

Operating Expenses
   General and administrative costs                           274,378   205,883
                                                           -----------  --------

          Total operating expenses                            274,378   205,883
                                                           -----------  -------
INCOME (LOSS) FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES                                          ( 14,267)   35,233

   Income taxes                                                    -         -

                                                          -----------  --------

NET INCOME (LOSS)                                        $    (14,267) $ 35,233
                                                         ===========   ========

BASIS AND DILUTED EARNINGS (LOSS) PER SHARE:

   Earnings (loss) per share                           $         ( -)  $   0.01
                                                         ===========  =========

WEIGHTED AVERAGE SHARES OUTSTANDING                        4,919,422  4,919,422
                                                         ===========  =========

               The accompanying notes are an integral part of the
                       consolidated financial statements.

                                     <PAGE>

                               KORE HOLDINGS, INC.
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
        FOR THE THREE MONTHS ENDED DECEMBER 31, 2004 AND 2003 (UNAUDITED)



                                                                     (Restated)
                                                        2004           2003
                                                  ------------------------------

CASH FLOWS FROM OPERATING ACTIVITIES
   Net income (loss)                            $   (14,267)         $  35,233
                                                  -----------       ----------

Adjustments to reconcile net income to net
cash provided by operating activities:
   Depreciation and amortization                     34,200              7,282

Changes in assets and liabilities
   Advances receivable                                    -              4,500
   Commissions receivable                          (300,000)           (55,978)
   Accounts payable                                       -            (25,083)
                                             ---------------      ------------
      Total adjustments                            (265,800)           (69,279)
                                             ---------------------------------
      Net cash (used in)
        operating activities                       (280,067)           (34,046)

CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from contributed capital                   9,650             28,000
                                             ---------------------------------
       Net cash provided by (used in)
        financing activities                          9,650             28,000
                                             ---------------------------------

NET INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS                           (270,417)            (6,046)

CASH AND CASH EQUIVALENTS - BEGINNING OF
PERIOD                                              272,843            15,753
                                             --------------------------------
CASH AND CASH EQUIVALENTS - END OF PERIOD       $     2,426         $   9,707
                                             ================================

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
   Cash paid during the year for interest       $         -         $   4,340
                                              =============      ===========
SUPPLEMENTAL DISCLOSURE OF NONCASH INFORMATION:

   Preferred stock issued for land and coal
     reserves                                  $14,045,079          $        -
                                              =============      ===========


               The accompanying notes are an integral part of the
                       consolidated financial statements.



<PAGE>

                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                           DECEMBER 31, 2004 AND 2003

NOTE 1-  ORGANIZATION AND BASIS OF PRESENTATION

                  The condensed consolidated unaudited interim financial
                  statements included herein have been prepared, without audit,
                  pursuant to the rules and regulations of the Securities and
                  Exchange Commission. The consolidated financial statements and
                  notes are presented as permitted on Form 10-QSB and do not
                  contain information included in the Company's annual
                  consolidated statements and notes. Certain information and
                  footnote disclosures normally included in financial statements
                  prepared in accordance with accounting principles generally
                  accepted in the United States of America have been condensed
                  or omitted pursuant to such rules and regulations, although
                  the Company believes that the disclosures are adequate to make
                  the information presented not misleading. The results for the
                  three months ended December 31, 2004 may not be indicative of
                  the results for the entire year.

                  The Company on October 16, 2004, changed its name to Kore
                  Holdings, Inc. The Company, at that time, increased its
                  authorized common stock shares to 400,000,000 and its
                  preferred stock to 100,000,000.

                  These statements reflect all adjustments, consisting of normal
                  recurring adjustments which, in the opinion of management, are
                  necessary for fair presentation of the information contained
                  herein.

                  Kore Holdings, Inc. and Subsidiaries is a power provider and
                  marketer of alternative energy and financial services. The
                  Company is in the initial stages of implementing its business
                  plan.


                  On May 17, 2002, the Company acquired First Washington
                  Financial Corporation, a company which provides financial
                  services in Bethesda, Maryland ("First Washington"). First
                  Washington, is a mortgage company whose emphasis lies in
                  residential mortgages in the greater Washington D.C. service
                  area. The combination was treated as a purchase with First
                  Washington becoming a wholly owned subsidiary of Volt, Inc.
                  Volt, Inc. recognized an intangible asset (goodwill) which
                  represented the amount of value received over the net assets
                  acquired. The operations of First Washington are included in
                  the consolidated statements of income for the year ended
                  September 30, 2002 from the date of inception May 17, 2002 to
                  September 30, 2002. There was no predecessor entity of First
                  Washington. The fair value of the transaction was recorded
                  based on the number of shares issued to First Washington
                  (2,000,000) at the fair value of the stock of Volt on the date
                  of acquisition net of a discount since the stock issued in the
                  acquisition was restricted stock ($1.50).


<PAGE>



                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           DECEMBER 31, 2004 AND 2003

NOTE 1-  ORGANIZATION AND BASIS OF PRESENTATION (CONTINUED)

                  The cost of the net assets purchased and liabilities assumed
                  approximated zero. However, the value of $3,000,000 was based
                  on the mortgage company's future earnings.

                  The Company acquired Opportunity Knocks, LLC during the third
                  fiscal quarter of 2002 to rehabilitate HUD homes and other
                  properties in Washington, D.C., Maryland and Virginia under
                  the HUD Gift Program. This acquisition was done simultaneously
                  with the acquisition of First Washington, and Opportunity
                  Knocks is a wholly owned subsidiary of the Company.

                  In fiscal 2003, the Company expanded its financial services
                  business, and brought in two businesses, that operationally
                  failed to meet the Company's business model. Subsequent to
                  these agreements being in force, the Company disposed of them.
                  Additionally, the Washington Metropolitan Area market had not
                  met Company expectations, so the Company's subsidiary First
                  Washington acquired Yosemite Brokerage, Inc. in Oakhurst,
                  California, a few miles from the Company's headquarters. The
                  Company had issued Preferred Stock Class B, which has been
                  cancelled by the Company.

                  In July 2003 (effective August 1, 2003), First Washington
                  acquired Yosemite Brokerage, Inc. ("Yosemite"), a California
                  corporation for 500,000 shares of First Washington Class A
                  Preferred Stock. The acquisition was recorded for accounting
                  purposes as a purchase acquisition. The Company valued this
                  transaction at $200,000 ($.40 per share), which included the
                  recognition of $31,840 in goodwill.

                  The  Company has three  other  power  related  wholly-owned
                  subsidiaries,  Sun Volt,  Inc.,  Sun Electronics,  Inc. and
                  Arcadian  Renewable Power,  Inc.  Arcadian  Renewable  Power,
                  Inc. is the corporation that holds the Altamont Wind Farm in
                  the Altamont Pass in Livermore, California.

                  As noted in Note 9, the Company has amended its previously
                  issued condensed consolidated financial statements for the
                  three months ended December 31, 2003 in response to the
                  Securities and Exchange Commission's comment letters dated
                  February 4, 2003, May 30, 2003 and August 11, 2003. The
                  Company has amended these condensed consolidated financial
                  statements to reclassify $711,628 previously recorded as
                  reversal of payables, to reclassify a portion of its goodwill
                  acquired in the First Washington Corporation transaction as
                  restricted cash in the amount of $172,428 and has reclassified
                  $347,326 previously classified as notes receivable to general
                  and administrative expenses. These transactions resulted in a
                  decrease in the accumulated deficit to ($4,843,875) at
                  September 30, 2003. In addition for the three months ended
                  December 31, 2003, the Company has reclassified $4,500
                  previously classified as notes receivable to accrued expenses.
                  This transaction resulted in no change to its previously
                  stated net income and accumulated deficit for the three-month
                  period.




<PAGE>


                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           DECEMBER 31, 2004 AND 2003

NOTE 2-           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

                  Principles of Consolidation

                  The condensed consolidated balance sheet for December 31, 2004
                  and consolidated balance sheet for September 30, 2004 and
                  condensed consolidated statements of income and cash flows for
                  the three months ended December 31, 2004 includes Kore
                  Holdings, Inc. and its wholly-owned subsidiaries. Intercompany
                  transactions and balances have been eliminated in
                  consolidation.

                  Use of Estimates

                  The preparation of financial statements in conformity with
                  accounting principles generally accepted in the United States
                  of America, requires management to make estimates and
                  assumptions that affect the reported amounts of assets and
                  liabilities and disclosures of contingent assets and
                  liabilities at the date of the financial statements and the
                  reported amounts of revenues and expenses during the reporting
                  period. Actual results could differ from those estimates.

                  Cash and Cash Equivalents

                  The Company considers all highly liquid debt instruments and
                  other short-term investments with an initial maturity of three
                  months or less to be cash or cash equivalents.

                  The Company maintains cash and cash equivalent balances at
                  several financial institutions which are insured by the
                  Federal Deposit Insurance Corporation up to $100,000.

                  The Company has $234,240 in restricted cash that is expected
                  to be received in the next two years.

                  Property and Equipment

                  Property and equipment are stated at cost. Depreciation is
                  computed primarily using the straight-line method over the
                  estimated useful life of the assets.

                  Furniture and fixtures                       5-7 years
                  Office and computer equipment                3-5 years
                  Wind Farm                                     40 years

                  Revenue Recognition

                  For the Company's power division, sold merchandise and
                  revenues were recorded under the accrual method of accounting.

                  For the Company's financial services division, commission
                  income is recorded upon the closing of their respective
                  transactions.

                  Advertising

                  Advertising costs are typically expensed as incurred.
                  Advertising expense was approximately $5,000 and $4,973 for
                  the three months ending December 31, 2004 and 2003,
                  respectively.

<PAGE>


                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           DECEMBER 31, 2004 AND 2003

NOTE 2-           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

                  Income Taxes

                  The income tax benefit is computed on the pretax loss based on
                  the current tax law. Deferred income taxes are recognized for
                  the tax consequences in future years of differences between
                  the tax basis of assets and liabilities and their financial
                  reporting amounts at each year-end based on enacted tax laws
                  and statutory tax rates.

                  Fair Value of Financial Instruments

                  The carrying amount reported in the condensed consolidated
                  balance sheet for cash and cash equivalents, advances
                  receivable, commissions receivable, accounts payable and
                  accrued expenses approximate fair value because of the
                  immediate or short-term maturity of these financial
                  instruments.

                  Earnings (Loss) Per Share of Common Stock

                  Historical net income (loss) per common share is computed
                  using the weighted average number of common shares
                  outstanding. Diluted earnings per share (EPS) includes
                  additional dilution from common stock equivalents, such as
                  stock issuable pursuant to the exercise of stock options and
                  warrants.

                  The following is a reconciliation of the computation for basic
                  and diluted EPS:


                                                              2004       2003
                                                              ----       ----

                  Net income (loss)                         $(14,267)   $35,233
                                                            ---------   -------

                  Weighted- average common shares
                  Outstanding (Basic)                      4,919,422  4,419,422

                  Weighted-average common stock Equivalents:
                           Stock options                           -          -
                           Warrants                                -          -
                                                           ---------  ----------

                  Weighted-average common shares
                  Outstanding (Diluted)                    4,919,422  4,419,422
                                                           =========  =========


                  The Company did not have any outstanding stock options or
                  warrants at December 31, 2004 and 2003, respectively.




<PAGE>


                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           DECEMBER 31, 2004 AND 2003


NOTE 2-           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

                  Goodwill

                  In June 2001, the FASB issued Statement No. 142 "Goodwill and
                  Other Intangible Assets". This Statement addresses financial
                  accounting and reporting for acquired goodwill and other
                  intangible assets and supersedes APB Opinion No. 17,
                  Intangible Assets. It addresses how intangible assets that are
                  acquired individually or with a group of other assets (but not
                  those acquired in a business combination) should be accounted
                  for in financial statements upon their acquisition. This
                  Statement also addresses how goodwill and other intangible
                  assets should be accounted for after they have been initially
                  recognized in the financial statements. This statement has
                  been considered when determining impairment of goodwill in
                  certain transactions. During fiscal 2003, the Company
                  recognized $31,840 of goodwill acquired in the Yosemite
                  transaction. There was no recognition of impairment of
                  goodwill during the three months ended December 31, 2004 and
                  2003.

                  Recent Accounting Pronouncement

                  On October 3, 2001, the FASB issued Statement of Financial
                  Accounting Standards No. 144, "Accounting for the Impairment
                  or Disposal of Long-Lived Assets" ("SFAS 144"), that is
                  applicable to financial statements issued for fiscal years
                  beginning after December 15, 2001. The FASB's new rules on
                  asset impairment supersede SFAS 121, "Accounting for the
                  Impairment of Long-Lived Assets and for Long-Lived Assets to
                  Be Disposed Of," and portions of Accounting Principles Board
                  Opinion 30, "Reporting the Results of Operations." This
                  Standard provides a single accounting model for long-lived
                  assets to be disposed of and significantly changes the
                  criteria that would have to be met to classify an asset as
                  held-for-sale. Classification as held-for- sale is an
                  important distinction since such assets are not depreciated
                  and are stated at the lower of fair value and carrying amount.
                  This Standard also requires expected future operating losses
                  from discontinued operations to be displayed in the period (s)
                  in which the losses are incurred, rather than as of the
                  measurement date as presently required.

                  Reclassifications

                  Certain amounts for the three months ended December 31, 2003
                  have been reclassified to conform with the presentation of the
                  December 31, 2004 amounts. The reclassifications have no
                  effect on net income for the three months ended December 31,
                  2003.




<PAGE>



                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           DECEMBER 31, 2004 AND 2003

NOTE 3-  PROPERTY AND EQUIPMENT

                  Property and equipment consist of the following at December
                  31, 2004:

                                                        2004           2003
                                                        ----           ----

                  Wind Farm                          $5,700,000     $5,700,000
                  Furniture and fixtures                 16,000         16,000
                  Leasehold improvements                  8,885          8,885
                  Computer and office equipment         119,425        116,293
                                                     -----------    ------------

                                                      5,844,310      5,841,178
                  Less:  accumulated depreciation       (63,741)       (41,533)
                                                      ---------     -----------

                  Net book value                     $5,780,569     $5,799,445
                                                     ==========     ===========

                  Depreciation expense for the three months ended December 31,
                  2004 and 2003 was $9,200 and $7,252, respectively. There is no
                  depreciation recognized on the Wind Farm as it is non
                  operational until placed in service. In the Company's
                  acquisition of Yosemite in their fourth quarter of 2003, they
                  acquired $55,261 office and computer equipment.

                  The Company upon acquisition of the Wind Farm, has classified
                  this asset under property and equipment. The Wind Farm
                  consists of hundreds of nonoperational turbines located in
                  California. The Company has received independent valuations on
                  the Wind Farm that have valued it in excess of $14,000,000.
                  The Company would need to spend in excess of $5,000,000 to
                  bring these assets into operational use, at which time the
                  Company would depreciate them over their estimated useful life
                  of 40 years. Consequently, there is no depreciation recognized
                  on the Wind Farm for the three months ended December 31, 2004
                  and 2003. The Company did receive miscellaneous parts that
                  have not been valued for the condensed consolidated balance
                  sheets, that it sells from time to time, and the Company
                  records the income in their condensed consolidated statements
                  of operations when these sales occur.

NOTE 4-  INTANGIBLE ASSET

                  The Company in November 2003 issued 1000 shares of its common
                  stock valued at $500,000 for exclusive right to distribute
                  power generators in northern California and Hawaii and other
                  agreed territories. Additionally, the Company received the
                  non-exclusive right to acquire the generators at prevailing
                  wholesale prices for distribution and the non-exclusive
                  license to use the name, trademark and trade names of the
                  manufacturer or distributor of the power generators. The
                  license agreements are being amortized over the five year
                  life. Amortization charged to expense for the three months
                  ended December 31, 2004 was $25,000.






<PAGE>


                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           DECEMBER 31, 2004 AND 2003

NOTE 5-  LAND AND COAL RESERVES

                  The Company acquired coal tract #4 of the Fiatt coal mine in
                  Fulton County, Illinois. The tract consists of approximately
                  100 acres of land and surface area with a tonnage of 4,356,000
                  tons of coal fines having a thickness of a 50 foot average
                  using 200 pounds/sht tn and which are certified and appraised
                  at $69,696,020. The Company issued 13,635,999 shares of its
                  Class B convertible preferred stock valued at $14,045,079.


NOTE 6-  STOCKHOLDERS' EQUITY

                  Common and Preferred Stock

                  On January 1, 2003, the Company issued a board resolution for
                  the authorization of a new class of preferred stock, Class B
                  Preferred Stock, no par value. The Company authorized the
                  issuance of 125,000 shares of Class B Preferred Stock.

                  On July 1, 2003, First Washington issued a board resolution
                  for the authorization of a new class of preferred stock, Class
                  A Preferred Stock, no par value. First Washington authorized
                  the issuance of 500,000 shares of Class A Preferred Stock.

                  During fiscal 2003, the Company had issued shares of Class B
                  Preferred Stock, only to cancel them later in that fiscal
                  year. As of September 30, 2003, there were no shares of Class
                  B Preferred Stock issued and outstanding.

                  In July 2003 (effective August 1, 2003), First Washington
                  issued 500,000 shares of the Class A Preferred Stock, to
                  acquire Yosemite Brokerage, Inc. ("Yosemite"). The acquisition
                  was recorded for accounting purposes as a purchase
                  acquisition. The transaction was valued at $200,000 ($.40 per
                  share), which included goodwill of $31,840.

                  The Company in November 2003 issued 1,000,000 shares of its
                  common stock for an intangible asset (see Note 4). The value
                  for the asset was $500,000.

                  The Company issued 13,635,999 shares of its Class B
                  convertible preferred stock valued at $14,045,079.

NOTE 7-  RELATED PARTY TRANSACTIONS

                  On January 1, 2003, the Company entered into a lease agreement
                  for the rental of office space for its home office. An officer
                  of the Company is a partner in the partnership that rents this
                  space to the Company. The lease is a five-year lease with a
                  five-year option, with rent of $2,750 per month. Rent expense
                  for the year ended September 30, 2003 of $24,750 was forgiven
                  by the company at September 30, 2003. Rent expense for the
                  three months ended December 31, 2003 and 2002 was $8,250 and
                  $-0-, respectively.

                  Yosemite Brokerage, rents space from its officer. The lease
                  commenced February 1, 2000 and runs through January 31, 2005.
                  The monthly rents commenced at $5,600 per month and calls for
                  increase annually up to 3%. Rent expense for the three months
                  ended December 31, 2003 was $16,800. No rent expense was
                  incurred for the three months ended December 31, 2002.



<PAGE>



                      KORE HOLDINGS, INC. AND SUBSIDIARIES
                      (FORMERLY VOLT INC. AND SUBSIDIARIES)
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
                           DECEMBER 31, 2004 AND 2003


NOTE 8-  PROVISION FOR INCOME TAXES

                  Deferred income taxes will be determined using the liability
                  method for the temporary differences between the financial
                  reporting basis and income tax basis of the Company's assets
                  and liabilities. Deferred income taxes will be measured based
                  on the tax rates expected to be in effect when the temporary
                  differences are included in the Company's consolidated tax
                  return. Deferred tax assets and liabilities are recognized
                  based on anticipated future tax consequences attributable to
                  differences between financial statement carrying amounts of
                  assets and liabilities and their respective tax bases.

                  At December 31, 2004, deferred tax assets consist of the
                  following:

                                                                 2004

                  Net operating loss carryforwards            $343,000
                  Less:  valuation allowance                  (343,000)
                                                              ----------

                                                              $     -0-

                  At December 31, 2004, the Company had federal net operating
                  loss carryforwards in the approximate amounts of $1,600,000,
                  available to offset future taxable income. The Company
                  established valuation allowances equal to the full amount of
                  the deferred tax assets due to the uncertainty of the
                  utilization of the operating losses in future periods.


 NOTE 9-          RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

                  The Company has amended its previously issued condensed
                  consolidated financial statements for the three months ended
                  December 31, 2004. The Company has amended these condensed
                  consolidated financial statements to reclassify $711,628
                  previously recorded as reversal of payables, to reclassify a
                  portion of its goodwill acquired in the First Washington
                  Corporation transaction as restricted cash in the amount of
                  $172,428 and has reclassified $347,326 previously classified
                  as notes receivable to general and administrative expenses.
                  These transactions resulted in a decrease in the accumulated
                  deficit to ($4,843,875) at September 30, 2003. In addition for
                  the three months ended December 31, 2004, the Company has
                  reclassified $4,500 previously classified as notes receivable
                  to accrued expenses. This transaction resulted in no change to
                  its previously stated net income and accumulated deficit for
                  the three-month period.


NOTE 10-          SUBSEQUENT EVENT

                  After the first quarter of 2004, the Company closed the
                  Yosemite Brokerage, Inc. office.