UNITED STATES SECURITIES AND EXCHANGE
COMMISSION Washington, D.C. 20549  FORM 10-Q   [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934  For the quarterly
period ended March 31, 2008   [   ] TRANSITION REPORT UNDER SECTION 13 OR
15(d) OF THE EXCHANGE ACT  For the transition
period from __________ to __________  Commission File
Number 000-31377  Reflect Scientific, Inc. (Exact name of registrant as specified in
its charter)  Utah 87-0642556 (State or
other jurisdiction of (IRS Employer Identification No.) incorporation or organization)  1270 South 1380 West Orem, Utah
  84058 (Address of principal executive
offices) (Zip Code)  (801) 226-4100 (Registrants telephone number,
including area code)  Indicate by check mark 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 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 large accelerated filer, an accelerated filer, a non-accelerated
filer, or a smaller reporting company.  See definitions of large
accelerated filer, accelerated filer, and smaller reporting company in Rule
12b-2 of the Exchange Act.  Large
Accelerated filer  ̈ Accelerated filer  ̈ Non-accelerated
filer   ̈ (Do not check if a
smaller reporting company) Smaller reporting company x  Indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Exchange Act). Yes [  ]
  No [X]  Indicate the number of shares outstanding of each of the
issuers classes of common equity, as of the latest practicable date. 34,245,153 shares of $0.01 par value
common stock on May 9, 2008  Transitional Small Business Disclosure Format (Check
One): Yes [  ]    No [X]     Part I - FINANCIAL INFORMATION  Item 1. Financial Statements Reflect Scientific, Inc. FINANCIAL STATEMENTS (UNAUDITED) March 31, 2008  The financial statements
included herein have been prepared by the Company, without audit, pursuant to
the rules and regulations of the Securities and Exchange Commission.
 Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted accounting
principles have been condensed or omitted.  However, in the opinion of
management, all adjustments (which include only normal recurring accruals)
necessary to present fairly the financial position and results of operations for
the periods presented have been made.  These financial statements should be
read in conjunction with the accompanying notes, and with the historical
financial information of the Company.       REFLECT SCIENTIFIC, INC.  CONSOLIDATED CONDENSED FINANCIAL STATEMENTS  March
31, 2008     REFLECT SCIENTIFIC, INC. Consolidated Condensed Balance Sheets   ASSETS   March 31,
2008

December 31,
2007(Unaudited)CURRENT ASSETSCash
$
1,056,366
$
1,154,162Accounts receivable

1,327,684

1,371,770Other receivables

29,118

28,517Inventory

1,194,791

727,970Prepaid assets

168,804

168,396Total Current Assets

3,776,763

3,450,815FIXED ASSETS, NET

253,957

259,884OTHER ASSETSIntangible assets, net

5,747,778

5,849,036Deferred tax asset

38,000

38,000Long term prepaid asset

149,722

190,555Deposits

29,944

29,945Total Other Assets

5,965,444

6,107,536TOTAL ASSETS
$
9,996,164
$
9,818,235                     The
accompanying notes are an integral part of these consolidated financial
statements. 2     REFLECT SCIENTIFIC, INC. Consolidated Condensed Balance Sheets (Continued)   LIABILITIES AND SHAREHOLDERS EQUITY   March 31,
2008

December 31,
2007(Unaudited)CURRENT LIABILITIESAccounts payable
$
791,367
$
432,392Short term loan

146,022

147,530Royalty payable

6,714

53,565Capital leases  short-term
portion

19,757

20,016Accrued expenses

142,452

179,778Contract billings in excess

191,126

82,708Income taxes payable

400

400Total Current Liabilities

1,297,838

916,389LONG-TERM LIABILITIESDebentures,
net of Discount Warrant of $1,014,149
And
Discount of Beneficial Conversion Features
of$532,726

866,625

618,750Capital leases  long-term
portion

34,879

40,147Notes payableTotal Long-Term
Liabilities

901,504

658,897Total
Liabilities

2,199,342

1,575,286SHAREHOLDERS EQUITYPreferred
stock, $0.01 par value, authorized
5,000,000
shares; No shares issued and Outstanding



-Common
stock, $0.01 par value, authorized
50,000,000
shares; 34,195,153 and 34,100,538
sharesissued and outstanding respectively

341,952

341,006Additional paid in capital

16,572,648

16,512,094Accumulated deficit

(9,117,778)

(8,610,151)Total Shareholders Equity

7,796,822

8,242,949TOTAL
LIABILITIES AND SHAREHOLDERS EQUITY
$
9,996,164

9,818,235   The
accompanying notes are an integral part of these consolidated financial
statements. 3


REFLECT SCIENTIFIC, INC. Consolidated Condensed Statements of Operations (Unaudited)   For the Three Months Ended
March 31,2008

2007REVENUES
$
1,970,279
$
1,168,020COST OF
GOODS SOLD

944,025

756,988GROSS
PROFIT

1,026,254

411,032OPERATING
EXPENSESSalaries
and wages

617,261

344,792Rent
expense

65,806

43,671General
and administrative expense

474,855

419,863Total
Operating Expenses

1,157,922

808,326OPERATING
LOSS

(131,668)

(397,294)OTHER INCOME (EXPENSE)Interest income

6,583

-Interest expense

(382,542)

(61)Total
Other Expenses

(375,959)

(61)NET LOSS
BEFORE INCOME TAXES

(507,627)

(397,355)Income tax benefit (expense)

-

-NET LOSS
$
(507,627)
$
(397,355)BASIC AND
FULLY DILUTED INCOME(LOSS) PER SHARE
$
(0.01)
$
(0.01)WEIGHTED
AVERAGE NUMBER OF SHARES OUTSTANDING

34,963,927

32,758,901  The accompanying notes are
an integral part of these consolidated financial statements. 4





REFLECT SCIENTIFIC, INC. Consolidated Condensed Statements of Cash Flows (Unaudited) For the Three Months Ended March 31, 2008

2007Net loss
$
(507,627)
$
(397,355)Adjustments to reconcile net loss to net cashprovided by operating
activities:Depreciation

14,015

12,494Amortization

410,634

81,139Common stock issued for
services

-

490,000Changes in operating assets and
liabilities:Increase in accounts
receivable

44,086

(519,739)Increase in inventory

(466,820)

(374,930)Increase in other
receivables

(601)Increase in income tax
receivable

-

1,187Increase in prepaid asset

40,425

(477,914)Decrease in other assets

-

300Decrease in accounts payable
and accrued
expenses

388,413

765,126Net
Cash Used by Operating Activities

(77,475)

(419,692)CASH FLOWS FROM INVESTING ACTIVITIESCash paid for fixed
assets

(8,088)

(8,127)Net Cash Used by Investing
Activities

(8,088)

(8,127)CASH FLOWS FROM FINANCING
ACTIVITIESPayments on notes payable

(10,724)

(6,213)Lines of Credit

(1,509)

-Proceeds from stock
subscriptions

-

277,550Proceeds from common stock
issuance

-

49,055Net
Cash from Financing Activities

(12,233)

320,392NET
INCREASE (DECREASE) IN
CASH

(97,796)

(107,427)CASH AT BEGINNING OF PERIOD

1,154,162

271,038CASH AT END OF PERIOD
$
1,056,366
$
163,611     The accompanying notes are
an integral part of these consolidated financial statements. 5





REFLECT SCIENTIFIC, INC. Consolidated Condensed Statements of Cash Flows (continued) (Unaudited)    SUPPLEMENTAL CASH FLOW INFORMATION:Cash Paid For:Interest
$
8,950
$
61Income taxes
$
-
$
-NON-CASH FINANCING ACTIVITIES:Stock issued pursuant to
Company mergers
$
-
$
2,435,870Common stock subscription
receivable issued
$
-
$
257,251Common stock issued for
services
$
-
$
490,000                                   The accompanying notes are
an integral part of these consolidated financial statements. 6


REFLECT SCIENTIFIC, INC. Notes to
the Consolidated Condensed Financial Statements March
31, 2008   NOTE 1- BASIS OF FINANCIAL STATEMENT PRESENTATION  The accompanying unaudited condensed
consolidated financial statements have been prepared by the Company pursuant to
accounting principles generally accepted in the United States of America.
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 in accordance
with rules and regulations of the Securities and Exchange Commission.  The
information furnished in the interim condensed consolidated financial statements
include normal recurring adjustments and reflects all adjustments, which, in the
opinion of management, are necessary for a fair presentation of such financial
statements.  Although management believes the disclosures and information
presented are adequate to make the information not misleading, it is suggested
that these interim condensed consolidated financial statements be read in
conjunction with the Companys most recent audited consolidated financial
statements and notes thereto included in its December 31, 2007 financial
statements.  Operating results for the three months ended March 31, 2008
are not necessarily indicative of the results that may be expected for the year
ending December 31, 2008.  NOTE 2 - ORGANIZATION AND DESCRIPTION OF BUSINESS  Cole, Inc. (the
Company) was incorporated under the laws of the State of Utah on November 3,
1999. The Company was organized to engage in any lawful activity for which
corporations may be organized under the Utah Revised Business Corporation Act.
 On December 30, 2003 the Company changed its name to Reflect Scientific,
Inc.  Reflect Scientific,
Inc. a California corporation, was incorporated on September 14, 1993, under the
laws of California to engage in the manufacture of test kits for use in
scientific studies.  On
December 30, 2003, pursuant to an Agreement and Plan of Reorganization, the
Company completed a reverse merger with the shareholders of Reflect Scientific,
Inc. in which it acquired 100% of Reflect Scientific, Inc., a California
corporation in exchange for 22,914,949 common shares of the Company.  The
terms of the acquisition are detailed in an 8-K filing dated December 31, 2003.
 Under the terms of the agreement, the President of Reflect Scientific,
Inc. became the President of the Company and was elected to the Board of
Directors.  The acquisition was accounted for as a recapitalization of
Reflect Scientific, Inc. because the members of Reflect Scientific, Inc.
controlled the Company after the acquisition.  Reflect Scientific, Inc. was
treated as the acquiring entity for accounting purposes and Cole, Inc. was the
surviving entity for legal purposes.  There was no adjustment to the
carrying values of the assets or liabilities of Reflect Scientific, Inc. and no
goodwill was recorded. The operations for the year ended December 31, 2006 and
2005 are those of Reflect Scientific, Inc.  Effective January 19, 2007 the Company finalized an
Agreement and Plan of Merger agreement with All Temp Engineering, Inc.
 Effective March 6, 2007, the Company finalized an Agreement and Plan of
Merger agreement with Image Labs, International.  The terms of the
agreements are detailed in a 10-QSB filing dated March 31, 2007.  The
Company entered into these mergers after considering All Temps and Image Labs
business history, financial condition, and intellectual property. The Company
has a desire to expand its services and attract and  7    REFLECT SCIENTIFIC, INC. Notes to
the Consolidated Condensed Financial Statements March
31, 2008   NOTE 2 - ORGANIZATION AND DESCRIPTION OF BUSINESS (continued)  retain talented technical personnel and believed there were
strategic and financial advantages to combining the businesses.  NOTE 3  CONVERTIBLE DEBENTURES AND WARRANTS  On June 29, 2007, the Company entered into an agreement to sell
$2,500,000 in 12% senior convertible debentures with a maturity date of June 29,
2009, with interest due quarterly.   At the closing, the Company
prepaid the first quarterly interest payment out of the proceeds of the offering
from escrow and placed in escrow the second quarterly interest payment for a
total of $150,000.  The agreement allows for the Company to pay the
interest in cash or in duly authorized, validly issued, fully paid and
non-assessable shares of common stock at the interest conversion rate, or a
combination thereof.  The debentures have a conversion price of $0.65.  If the
Company, at any time while the debenture is outstanding, pays stock dividends,
subdivides outstanding shares, sells or grants any option to purchase or dispose
of common stock at an effective price lower than the conversion price, issue
rights, options or warrants at a price lower than the conversion price, etc.,
the Company shall promptly deliver to each Holder a notice setting forth the
conversion price after such adjustment and provide a brief statement of facts
requiring such adjustment.   In addition, if the volume weighted
average price for each of any 20 consecutive trading days exceeds 250% of the
conversion price, the Company may, within one trading day deliver a written
notice to the holder and force the holder to convert a principal amount of the
debenture equal to all or part of the holders portion of the forced conversion
amount.  The agreement also provides for the issuance of 1,923,077 A
warrants and 1,923,077 B warrants.  The warrants are exercisable at a price
of $0.80 per share for the A warrant and $1.00 per share for the B warrant and
expire June 29, 2012.  The Company valued the warrants using the
Black-Scholes option pricing model.  For the purpose of the valuation of
the warrants, the Company calculated a volatility of 66.48% on its common stock
and used the U. S. Treasury bill rate of 4.94% for its risk free rate.
 Then the Company allocated a portion of the proceeds to the warrants,
based on the relative fair value basis, in the amount of $1,639,029 which is
recognized as a contra liability account and will be amortized as interest
expense over the 2 year term of the agreement.  The intrinsic value of
beneficial conversion of the debentures was valued at $5,677,491, which exceeds
the effective value of the debentures of $860,971.  Therefore, the discount
assigned to the beneficial conversion feature is limited to $860,971 and is
recognized as a contra liability account and will be amortized as interest
expense over the 2 year term of the agreement.  As payment for services provided, the Company also issued 192,308
A warrants and 192,308 B warrants which were valued at $475,925 using the
Black-Scholes option pricing model and expensed in the current period.  8    REFLECT SCIENTIFIC, INC. Notes to
the Consolidated Condensed Financial Statements March
31, 2008   NOTE 3  CONVERTIBLE DEBENTURES AND WARRANTS
(continued)  The debentures and warrants have anti-dilution protections, and
the Company has agreed to certain registration rights for the resale of the
shares of common stock underlying the debentures and warrants.  A summary of the status of the Companys outstanding stock
warrants as of March 31, 2008 and changes during the period then ended is
presented below:  2008Shares

Weighted Average Exercise PriceOutstanding, beginning of year
4,230,770

$
.90Granted
-


-Expired/Cancelled
-


-Exercised
-


-Outstanding March 31, 2008
4,230,770

$
.90Exercisable
4,230,770

$
.90  Outstanding

ExercisableRange of Exercise Prices

Number outstanding at March 31,
2008

Weighted Average Remaining
Contractual Life

Number Exercisable at March 31,
2008$
0.80

2,115,385

5.00

2,115,3851.00

2,115,385

5.00

2,115,3854,230,770



4,230,770  NOTE 4  EQUITY TRANSACTIONS  During
the three month period ended March 31, 2008, the Company issued 94,615 shares of
its common stock for the conversion of $61,500 debt pursuant to the convertible
debenture agreement dated June 29, 2007  NOTE
5  SUBSEQUENT EVENT  On
May 1, 2008 the company issued 50,000 shares of its common stock for the
conversion of $32,500 of debt related to the convertible debenture.  9


Item 2. Managements Discussion and Analysis of
Financial Condition and Results of Operations  Special Note Regarding Forward-Looking
Statements  This periodic report contains certain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 with respect to the Plan of Operations provided
below, including information regarding the Companys financial condition,
results of operations, business strategies, operating efficiencies or synergies,
competitive positions, growth opportunities, and the plans and objectives of
management. The statements made as part of the Plan of Operations that are not
historical facts are hereby identified as "forward-looking statements." Critical Accounting Policies
and Estimates  The preparation of financial statements and
related disclosures in conformity with accounting principles generally accepted
in the United States of America requires management to make estimates and
assumptions that affect the amounts reported in the unaudited Financial
Statements and accompanying notes.  Management bases its estimates on
historical experience and on various other assumptions that are believed to be
reasonable under the circumstances. Actual results could differ from these
estimates under different assumptions or conditions.  The Company
believes there have been no significant changes during the three month
periods ended March 31, 2008 and 2007, to the items disclosed as
significant accounting policies in management's Notes to the Financial
Statements in the Company's Annual Report on Form 10-KSB for the year ended
December 31, 2007.  Plan of Operation and Business Growth  Over the next twelve months our focus will
be on the commercialization of products acquired and developed over the last
several years.  Including in this focus will be the continued development
and commercialization of our ultra low temperature refrigerator line.
 Additionally, we will continue to develop and expand our focus on
solutions and services to retrofit server and computer rooms to help reduce the
cost of cooling such rooms as well as provide a more reliable way to cool such
rooms.   We also will continue to focus on the expansion of our
detector line and contract manufacturing operations.  Management focus over the last several
years was on the acquisition and development of our product lines.
 Management now feels they have the core product lines in place to now
refocus its efforts on the commercialization of the product lines.  As such
much of the focus over the next twelve months will be on marketing our products
and expanding our customer base.  Our revenues increased from the quarter
ended March 31, 2007, of $1,168,020 to $1,970,279 for the quarter ended March
31, 2008.  This reflects the completion of the prior acquisitions as well
as the growing acceptance of our products in the market place.  We
anticipate this trend to continue in the future as we continue to expand our
marketing and sales efforts related to our product line.  The long term
growth of our product line as our products are new to the marketplace.
  We expect based on sales in the first three months of 2008, that the
product lines are becoming commercially accepted and that sales will continue to
increase.  We do not anticipate we will emphasize
acquisitions as we have in the past and instead will focus on managing our
current product line.  This will require a focus from management on the
sales of these products.  We completed a capital raise in June 2007, with
the hope we will be able to use the capital to aggressively market our products
and pay for the expansion resulting from the acquisitions.  We anticipate
the future business growth over the next twelve months to come from our current
product line.


10


Results of Operations  March 31, 2008 and
2007  Our revenues increased during the quarter
ended March 31, 2008, to $1,970,279 from $1,168,020 for the quarter ended March
31, 2007, as our products gain more commercial acceptance.  Our cost of goods increased in the quarter
ending March 31, 2008, as compared to March 31, 2007 to $944,025 from $756,988.
The difference was the result of increased sales.  Overall, as a percentage
of sales, our cost of goods sold was only approximately 48% for the three months
ended March 31, 2008 compared to 64% for the quarter ended March 31, 2007.
 We anticipate the cost of goods sold percentage to vary by quarter
depending on which products make up the largest percentage of sales during the
quarter.  Once our products are in the market place longer, our cost of
goods sold percentage should become more fixed as a percentage of sales.  Although sales increased, the increase was
not sufficient to offset additional expenses as we again expanded our operations
during the quarter ended March 31, 2008.  Salaries and wages increased to
$617,261 during the quarter ended March 31, 2008, compared to $344,792 for the
quarter ended March 31, 2007.  This increase reflects the closing of all of
our acquisitions and the hiring of additional personnel.  We felt it was
necessary to retain additional personnel in an effort to effectively market our
products and take advantage of business opportunities.  Rent expense also
increased as we began covering the expenses of businesses acquired in the first
quarter of 2007.  Even with the increase in operating
expenses from $808,326 for the quarter ended March 31, 2007 to $1,157,922 for
the quarter ended March 31, 2008, our operating loss decreased to $131,668 from
$397,294 for the comparable period in 2007.  We expect that as sales
continue to increase, we will be able to continue to reduce our operating loss
this year.  Interest expense was $382,542 for the
quarter ended March 31, 2008.  This interest expense related to interest on
our debentures of $73,167 for the  quarter and $309,375 related to the
amortization of the discounts on the debenture.  Seasonality and
Cyclicality  We do not believe our business is cyclical.  Liquidity and Capital Resources  Our cash resources at March 31, 2008, were
$1,056,366, with accounts receivable of $1,327,684 and inventory of $1,194,791.
We have relied on revenues and sales of equity and debt securities for cash
resources.   Our working capital on March 31, 2008, was $2,478,925
compared to $2,534,426 on December 31, 2007.  To complete acquisitions and
to fund our expanding operations, much of the working capital was used in the
first part of 2007 requiring us to raise additional capital which was completed
in June 2007. This capital was used to increase our manufacturing resulting in
increased inventory.  We hope to devote some of the available cash to
marketing to help increase sales over the next twelve months.  Historically, we have financed our working
capital requirements through capital funding which have generated sufficient
funds to offset shortfalls and cover losses.  As we continue to expand our
operations, we anticipate seeking additional capital through the sale of equity
securities.  It is highly likely, we will again seek additional capital in
the equity markets. At this time we do not know the extent of the overall
financing will need in the future.  Financing will depend on how well our
products are received in the marketplace.  Our long term liabilities were $901,504 on
March 31, 2008.  This reflects a debenture of $2.413,500,  although
only $866,625 is reflected because of the  discounts on the debenture,
 in June 2009, the debenture will be due and the total amount owed will be
$2,367,500, less any future conversions.    If the debentures are
not converted, we would probably have to seek some additional debt or equity
financing to help repay the debenture.  The amount of debt or


11


equity financing required will be dependent
on how our operations perform over the next twelve months.  If sales
continue to increase, we may be able to repay part of the debentures with
operating profits.  For the quarter ended March 31, 2008, our
net cash used by operating activities was approximately $77,476 which was down
from $419,692 for the quarter ended March 31, 2007.  We were pleased with
this reduction as it reflects our business operations are starting to cover our
cash needs.  We anticipate losses to continue as we
expand our sales efforts.  Since the products are new to the marketplace,
we are not sure how sales will be in upcoming quarters but we expect they will
continue to increase and should start covering our expenses.  Off-Balance Sheet Arrangements  We have no off balance sheet arrangements as of March 31,
2008.  Forward-looking Statements  The Private Securities Litigation Reform
Act of 1995 (the Act) provides a safe harbor for forward-looking statements
made by or on behalf of our Company. Our Company and our representatives may
from time to time make written or oral statements that are forward-looking,
including statements contained in this Annual Report and other filings with the
Securities and Exchange Commission and in reports to our Companys stockholders.
Management believes that all statements that express expectations and
projections with respect to future matters, as well as from developments beyond
our Companys control including changes in global economic conditions are
forward-looking statements within the meaning of the Act. These statements are
made on the basis of managements views and assumptions, as of the time the
statements are made, regarding future events and business performance. There can
be no assurance, however, that managements expectations will necessarily come
to pass. Factors that may affect forward- looking statements include a wide
range of factors that could materially affect future developments and
performance, including the following:  Changes in Company-wide strategies, which
may result in changes in the types or mix of businesses in which our Company is
involved or chooses to invest; changes in U.S., global or regional economic
conditions, changes in U.S. and global financial and equity markets, including
significant interest rate fluctuations, which may impede our Companys access
to, or increase the cost of, external financing for our operations and
investments; increased competitive pressures, both domestically and
internationally, legal and regulatory developments, such as regulatory actions
affecting environmental activities, the imposition by foreign countries of trade
restrictions and changes in international tax laws or currency controls; adverse
weather conditions or natural disasters, such as hurricanes and earthquakes,
labor disputes, which may lead to increased costs or disruption of
operations.  This list of factors that may affect future
performance and the accuracy of forward-looking statements are illustrative, but
by no means exhaustive. Accordingly, all forward-looking statements should be
evaluated with the understanding of their inherent uncertainty.   Item 3.  Quantitative and Qualitative Disclosures
About Market Risk.  This item is not required for Small
Reporting Companies.


12


Item 4T.  Controls and Procedures.  Evaluation of Disclosure Controls and
Procedures  Our
management, with the participation of our President and CFO, evaluated the
effectiveness of our disclosure controls and procedures as of the end of the
period covered by this report. Based on that evaluation, our President and CFO
concluded that our disclosure controls and procedures as of the end of the
period covered by this report were effective such that the information required
to be disclosed by us in reports filed under the Exchange Act is
(i) recorded, processed, summarized and reported within the time periods
specified in the SECs rules and forms and (ii) accumulated and
communicated to our management, including our President and CFO, as appropriate
to allow timely decisions regarding disclosure. A controls system cannot provide
absolute assurance, however, that the objectives of the controls system are met,
and no evaluation of controls can provide absolute assurance that all control
issues and instances of fraud, if any, within a company have been detected.   Managements Report on Internal Control
over Financial Reporting  Our
management is responsible for establishing and maintaining adequate internal
control over financial reporting (as defined in Rule 13a-15(f) under the
Exchange Act). Our internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes of
accounting principles generally accepted in the United States.   Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements.
Therefore, even those systems determined to be effective can provide only
reasonable assurance of achieving their control objectives.   Our
management, with the participation of the President and CFO, evaluated the
effectiveness of our internal control over financial reporting as of March 31,
2008.  Based on this evaluation, our management, with the participation of
the President and CFO, concluded that, as of March 31, 2008, our internal
control over financial reporting was effective.  Changes in internal control over
financial reporting  There have been no changes in internal control over
financial reporting.  PART II - OTHER INFORMATION  ITEM 1.  Legal Proceedings   None  ITEM 2.  Unregistered Sales of Equity Securities
and Use of Proceeds  Recent Sales of Unregistered
Securities  We have not sold any restricted securities during the
three months ended March 31, 2008.  Use of Proceeds of Registered Securities  None; not applicable.


13


Purchases of Equity Securities by Us and Affiliated
Purchasers  During the three months ended March 31, 2008, we have not
purchased any equity securities nor have any officers or directors of the
Company.  ITEM 3.  Defaults Upon Senior Securities  We are not aware of any defaults upon senior
securities.  ITEM 4.  Submission of Matters to a Vote of
Security Holders  No matters were submitted to a vote of security holders
during the quarter ended March 31, 2008.  ITEM 5.  Other Information.  None  ITEM 6.  Exhibits  (a) Exhibits.  Exhibit No.
Title of Document
Location if other than attached hereto3.1
Articles of Incorporation
10-SB Registration Statement*3.2
Articles of Amendment to Articles of
Incorporation
10-SB Registration Statement*3.3
By-Laws
10-SB Registration Statement*3.4
Articles of Amendment to Articles of
Incorporation
8-K Current Report dated December 31,
2003*3.5
Articles of Amendment to Articles of
Incorporation
8-K Current Report dated December 31,
2003*3.6
Articles of Amendment
September 30, 2004 10-QSB Quarterly
Report*3.7
By-Laws Amendment
September 30, 2004 10-QSB Quarterly
Report*4.1
Debenture
8-K Current Report dated June 29, 2007*4.2
Form of Purchasers Warrant
8-K Current Report dated June 29, 2007*4.3
Registration Rights Agreement
8-K Current Report dated June 29, 2007*4.4
Form of Placement Agreement
8-K Current Report dated June 29, 2007*10.1
Securities Purchase Agreement
8-K Current Report dated June 29, 2007*10.2
Placement Agent Agreement
8-K Current Report dated June 29, 2007*14
Code of Ethics
December 31, 2003 10-KSB Annual Report*21
Subsidiaries of the Company
December 31, 2004 10-KSB Annual Report*31.1
302 Certification of Kim Boyce31.2
302 Certification of David Strate32
906 Certification


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Exhibits  Additional Exhibits Incorporated by Reference *
Reflect California Reorganization
8-K Current Report dated December 31,
2003*
JMST Acquisition
8-K Current Report dated April 4, 2006*
Cryomastor Reorganization
8-K Current Report dated September 27,
2006*
Image Labs Merger Agreement Signing
8-K Current Report dated November 15,
2006*
All Temp Merger Agreement Signing
8-K Current Report dated November 17,
2006*
All Temp Merger Agreement Closing
8-KA Current Report dated November 17,
2006*
Image Labs Merger Agreement Closing
8-KA Current Report dated November 15,
2006  * Previously filed and incorporated by
reference.  SIGNATURES  Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.  Reflect Scientific, Inc. (Registrant)  Date: May 15,
2008 By:  /s/ Kim Boyce Kim
Boyce, CEO, President and Director  Date: May 15,
2008 By:  /s/ Tom Tait Tom
Tait, Vice President and Director  Date: May 15,
2008 By:  /s/ David Strate David
Strate, CFO


15