| (Mark One) |                                                                                                                                                               |
|------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|       |                                                                                                                                                               |
| x          | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2011                               |
|       |                                                                                                                                                               |
| o          | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT FOR THE TRANSITION PERIOD FROM __________ TO __________ COMMISSION FILE NUMBER 000-32341 |

| Nevada(State or other jurisdiction of incorporation or organization) |   | 84-1482082(I.R.S. Employer Identification No.) |
|----------------------------------------------------------------------|--------|------------------------------------------------|

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|                                                                                                   |   | Page   |
|--------------------------------------------------------------------------------------------------------|--------|--------|
| PART I - FINANCIAL INFORMATION                                                                         |   |   |
|                                                                                                   |   |   |
| Item 1.       Financial Statements                                            |   | 3      |
| Item 2.       Management’s Discussion and Analysis or Plan of Operation |   | 11     |
| Item 3.       Quantitative and Qualitative Disclosures About Market Risk      |   | 12     |
| Item 4.        Controls and Procedures                         |   | 12     |
|                                                                                                   |   |   |
| PART II - OTHER INFORMATION                                                                            |   |   |
|                                                                                                   |   |   |
| Item 1.       Legal Proceedings                                               |   | 13     |
| Item 2.       Unregistered Sales of Equity Securities and Use of Proceeds     |   | 13     |
| Item 3.       Defaults Upon Senior Securities                                 |   | 13     |
| Item 4.       Removed and Reserved                                            |   | 13     |
| Item 5.       Other Information                                               |   | 13     |
| Item 6.       Exhibits                                                        |   | 13     |
|                                                                                                   |   |   |
| SIGNATURES                                                                                             |   | 15     |

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|                                                                                     |   | Page    |   |
|------------------------------------------------------------------------------------------|--------|---------|--------|
| Condensed Consolidated Balance Sheets                                                    |   |  4 |   |
|                                                                                     |   |    |   |
| Condensed Consolidated Statements of Operations                                          |   | 5       |   |
|                                                                                     |   |    |   |
| Condensed Consolidated Statements of Shareholders’ Equity and Comprehensive Income |   | 6       |   |
|                                                                                     |   |    |   |
| Condensed Consolidated Statements of Cash Flows                                          |   | 7       |   |
|                                                                                     |   |    |   |
| Notes to Consolidated Financial Statements                                               |   | 8- 10   |   |

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| OMPHALOS, CORP.                       |
|---------------------------------------|
| CONDENSED CONSOLIDATED BALANCE SHEETS |

|                                                                         |   | March 31,   |          |   | December 31, |   |
|------------------------------------------------------------------------------|--------|-------------|---------------|--------|--------------|--------|
|                                                                         |   | 2011        |          |   | 2010         |   |
| Assets                                                                       |   | (Unaudited) |          |   |         |   |
| Current Assets                                                               |   |        |          |   |         |   |
| Cash and cash equivalents                                                    |   | $           | 1,394,504     |   |         | $      | 2,005,838 |   |
| Accounts receivable, net                                                     |   |        | 231,422       |   |         |   | 47,639 |   |
| Inventory, net                                                               |   |        | 1,604,658     |   |         |   | 1,593,256 |   |
| Prepaid and other current assets                                             |   |        | 505,061       |   |         |   | 500,007 |   |
|     Total current assets                                 |   |        | 3,735,645     |   |         |   | 4,146,740 |   |
|                                                                         |   |        |          |   |         |   |   |   |
| Leasehold Improvements and Equipment, net                                    |   |        | 27,149        |   |         |   | 4,856 |   |
|                                                                         |   |        |          |   |         |   |   |   |
| Intangible assets, net                                                       |   |        | 40,418        |   |         |   | 41,636 |   |
| Deposits                                                                     |   |        | 976           |   |         |   | 25,415 |   |
|                                                                         |   |        |     |   |         |   |     |   |
| Total Assets                                                                 |   | $           | 3,804,188     |   |         | $      | 4,218,647 |   |
|                                                                         |   |        |          |   |         |   |   |   |
|                                                                         |   |        |          |   |         |   |   |   |
|                                                                         |   |        |          |   |         |   |   |   |
| Liabilities and Shareholders’ Equity                                   |   |        |          |   |         |   |   |   |
| Current Liabilities                                                          |   |        |          |   |         |   |   |   |
| Accounts payable                                                             |   | $           | 156,760       |   |         | $      | 384,740 |   |
| Accrued salaries and bonus                                                   |   |        | 31,203        |   |         |   | 31,966 |   |
| Accrued expenses                                                             |   |        | 68,828        |   |         |   | 97,568 |   |
|     Total current liabilities                            |   |        | 256,791       |   |         |   | 514,274 |   |
|                                                                         |   |        |          |   |         |   |   |   |
|                                                                         |   |        |          |   |         |   |   |   |
| Shareholders’ Equity                                                   |   |        |          |   |         |   |   |   |
| Common stock, $0.0001 par value, 120,000,000 shares                          |   |        |          |   |         |   |   |   |
|     authorized, 30,063,759 shares issued and outstanding |   |        |          |   |         |   |   |   |
|     as of March 31, 2011 and December 31, 2010           |   |        | 3,007         |   |         |   | 3,007 |   |
| Additional paid-in capital                                                   |   |        | 47,523        |   |         |   | 47,523 |   |
| Other comprehensive income                                                   |   |        | 556,629       |   |         |   | 588,359 |   |
| Retained earnings                                                            |   |        | 2,940,238     |   |         |   | 3,065,484 |   |
| Total shareholders’ equity                                             |   |        | 3,547,397     |   |         |   | 3,704,373 |   |
|                                                                         |   |        |          |   |         |   |   |   |
| Total Liabilities and Shareholders’ Equity                             |   | $           | 3,804,188     |   |         | $      | 4,218,647 |   |

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| OMPHALOS, CORP.                                    |
|----------------------------------------------------|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS    |
| For the Three Months Ended March 31, 2011 and 2010 |
| (Unaudited)                                        |

|                                                                         |   | March 31, 2011 |       |   | March 31, 2010 |
|------------------------------------------------------------------------------|--------|----------------|------------|--------|----------------|
| Revenues:                                                                    |   |           |       |   |           |
|     Sales of goods, net                                  |   | $              | 243,215    |   |           | $ | 467,496 |   |
|                                                                         |   |           |       |   |           |   |   |   |
| Operating costs and expenses:                                                |   |           |       |   |           |   |   |   |
|     Cost of sales                                        |   |           | 137,638    |   |           |   | 382,382 |   |
|     Selling, general and administrative expenses         |   |           | 248,281    |   |           |   | 287,933 |   |
|                                                                         |   |           |       |   |           |   |   |   |
| Loss from operations                                                         |   |           | (142,704   | )      |           |   | (202,818 | ) |
|                                                                         |   |           |       |   |           |   |   |   |
| Other income (expenses)                                                      |   |           |       |   |           |   |   |   |
|     Interest income                                      |   |           | 250        |   |           |   | 2,968 |   |
|     Gain (loss) on foreign currency exchange             |   |           | 17,208     |   |           |   | (11,778 | ) |
|         Total other income (expense) |   |           | 17,458     |   |           |   | (8,810 | ) |
|                                                                         |   |           |       |   |           |   |   |   |
| Loss before provision for income taxes                                       |   |           | (125,246   | )      |           |   | (211,628 | ) |
|                                                                         |   |           |       |   |           |   |   |   |
| Provision for income taxes                                                   |   |           | -          |   |           |   | - |   |
|                                                                         |   |           |       |   |           |   |   |   |
| Net loss                                                                     |   | $              | (125,246   | )      |           | $ | (211,628 | ) |
|                                                                         |   |           |       |   |           |   |   |   |
| Weighted average number of common shares:                                    |   |           |       |   |           |   |   |   |
|     Basic and diluted                                    |   |           | 30,063,759 |   |           |   | 30,063,759 |   |
|                                                                         |   |           |       |   |           |   |   |   |
| Not loss per share:                                                          |   |           |       |   |           |   |   |   |
|     Basic and diluted                                    |   | $              | (0.00      | )      |           | $ | (0.01 | ) |

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| OMPHALOS, CORP.                                                 |
|-----------------------------------------------------------------|
| CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY |
| AND COMPREHENSIVE INCOME                                        |
| For the Three Months Ended March 31, 2011                       |
| (Unaudited)                                                     |

|                         |   | Common Stock |       |   | AdditionalPaid-in |   |   | Retained      |   |   | Comprehensive |   |   |   |      |
|------------------------------|--------|--------------|------------|--------|-------------------|--------|--------|---------------|--------|--------|---------------|--------|--------|--------|-----------|
|                         |   | Shares       |       |   | Amount            |   |   |  Capital |   |   | Earning       |   |   | Income |      |   | Total |   |
| Balance at December 31, 2010 |   |         | 30,063,759 |   |              | $      | 3,007  |          |   | $      | 47,523        |   |   | $      | 3,065,484 |   |   | $ | 588,359 |   |   | $ | 3,704,373 |   |
| Translation adjustment       |   |         | -          |   |              |   | -      |          |   |   | -             |   |   |   | -         |   |   |   | (31,730 | ) |   |   | (31,730 | ) |
| Net loss                     |   |         | -          |   |              |   | -      |          |   |   | -             |   |   |   | (125,246  | ) |   |   | - |   |   |   | (125,246 | ) |
| Balance at March 31, 2011    |   |         | 30,063,759 |   |              | $      | 3,007  |          |   | $      | 47,523        |   |   | $      | 2,940,238 |   |   | $ | 556,629 |   |   | $ | 3,547,397 |   |

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| OMPHALOS, CORP.                                    |
|----------------------------------------------------|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS    |
| For the Three Months Ended March 31, 2011 and 2010 |
| (Unaudited)                                        |

|                                                                                                                                   |   | March 31, |      |   | March 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|-----------|--------|-----------|--------|
|                                                                                                                                   |   | 2011      |      |   | 2010      |   |
| Cash flows from operating activities                                                                                                   |   |      |      |   |      |   |
|     Net loss                                                                                                       |   | $         | (125,246  | )      |      | $      | (211,628 | ) |
|     Adjustments to reconcile net income to net cash provided by                                                    |   |      |      |   |      |   |   |   |
|     (used in) operating activities:                                                                                |   |      |      |   |      |   |   |   |
|     Amortization and depreciation                                                                                  |   |      | 1,402     |   |      |   | 1,054 |   |
|     Foreign currency exchange (gains)                                                                              |   |      | (17,208   | )      |      |   | 11,778 |   |
|     Changes in assets and liabilities:                                                                             |   |      |      |   |      |   |   |   |
|         Decrease (increase) in accounts receivable                                             |   |      | (185,288  | )      |      |   | 174,188 |   |
|         Decrease (increase) in inventory                                                       |   |      | (25,528   | )      |      |   | 3,467 |   |
|         Decrease (increase) in prepaid and other assets                                        |   |      | 14,863    |   |      |   | 33,141 |   |
|         Increase (decrease) in accounts payable                                                |   |      | (225,930  | )      |      |   | 193,285 |   |
|         Increase (decrease) in accrued expenses                                                |   |      | (28,535   | )      |      |   | 4,096 |   |
|             Net cash provided by (used in)  operating activities |   |      | (591,470  | )      |      |   | 209,380 |   |
|                                                                                                                                   |   |      |      |   |      |   |   |   |
| Cash flows from investing activities                                                                                                   |   |      |      |   |      |   |   |   |
|        Patent registration                                                                          |   |      | -         |   |      |   | (338 | ) |
|        Purchase of fixed assets                                                                     |   |      | (23,870   | )      |      |   | - |   |
|             Net cash used in investing activities                          |   |      | (23,870   | )      |      |   | (338 | ) |
|                                                                                                                                   |   |      |      |   |      |   |   |   |
| Effect of exchange rate changes on cash and cash equivalents                                                                           |   |      | 4,006     |   |      |   | 17,023 |   |
|                                                                                                                                   |   |      |      |   |      |   |   |   |
| Net increase (decrease) in cash and cash equivalents                                                                                   |   |      | (611,334  | )      |      |   | 226,065 |   |
|                                                                                                                                   |   |      |      |   |      |   |   |   |
| Cash and cash equivalents                                                                                                              |   |      |      |   |      |   |   |   |
|     Beginning                                                                                                      |   |      | 2,005,838 |   |      |   | 1,968,816 |   |
|     Ending                                                                                                         |   | $         | 1,394,504 |   |      | $      | 2,194,881 |   |
|                                                                                                                                   |   |      |      |   |      |   |   |   |
| Supplemental disclosure of cash flows                                                                                                  |   |      |      |   |      |   |   |   |
|     Cash paid during the year for:                                                                                 |   |      |      |   |      |   |   |   |
|     Interest expense                                                                                               |   | $         | -         |   |      | $      | - |   |
|     Income tax                                                                                                     |   | $         | -         |   |      | $      | - |   |

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| 1. | ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
|----|-------------------------------------------------------------|

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| 2.   | RELATED-PARTY TRANSACTIONS |
|----------------|----------------------------|

| 3.   | OTHER COMPREHENSIVE INCOME |
|----------------|----------------------------|

|                         |   | Foreign Currency Translation Adjustment |    |   | Accumulated Other Comprehensive Income |   |
|------------------------------|--------|-----------------------------------------|---------|--------|----------------------------------------|--------|
| Balance at December 31, 2010 |   | $                                       | 588,359 |   |                                   | $      | 588,359 |   |
| Change for the period        |   |                                    | (31,730 | )      |                                   |   | (31,730 | ) |
| Balance at March 31, 2011    |   | $                                       | 556,629 |   |                                   | $      | 556,629 |   |

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| Exhibit Number |   | Description                                                                                                                                                                                                                                                                                                                      |
|----------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1            |   | Share Exchange Agreement dated February 5, 2008, between the Company and the parties set forth on the signature page thereof. (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “Commission”) on February 11, 2008) |
|           |   |                                                                                                                                                                                                                                                                                                                             |
| 2.2            |   | Agreement and Plan of Merger (incorporated by reference to the Company’s Current Report on Form 8-K filed with the Commission on April 15, 2008)                                                                                                                                                                           |

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| 3.1    |   | Articles of Amendment to the Articles of Incorporation of the Company (incorporated by reference to the Company’s proxy statement on Schedule 14A filed with the Commission on March 5, 2003 (the “Proxy Statement”)   |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                          |
| 3.2    |   | Agreement and Plan of Merger between Quixit, Inc., a Colorado corporation, and TOP Group Corporation (now known as   TOP Group Holdings, Inc.), a Delaware corporation (incorporated by reference to the Proxy Statement) |
|   |   |                                                                                                                                                                                                                                          |
| 3.3    |   | Certificate of Incorporation of the Company (incorporated by reference to the Proxy Statement)                                                                                                                                                |
|   |   |                                                                                                                                                                                                                                          |
| 3.4    |   | By-Laws of the Company (incorporated by reference to the Proxy Statement)                                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                          |
| 3.5    |   | Restated Certificate of Incorporation of the Company (incorporated by reference to the Company’s proxy statement on Schedule 14C filed with the commission on March 15, 2005 for an increase of authorized shares)                      |
|   |   |                                                                                                                                                                                                                                          |
| 3.6    |   | Restated Certificate of Incorporation of the Company (incorporated by reference to the Company’s proxy statement on Schedule l4C filed with the commission on August 26, 2005 for a name change)                                        |
|   |   |                                                                                                                                                                                                                                          |
| 3.7    |   | Restated Certificate of Incorporation of the Company (incorporated by reference to the Company’s proxy statement on Schedule l4C filed with the commission on June 20, 2006 to set the new total authorized shares)                     |
|   |   |                                                                                                                                                                                                                                          |
| 3.8    |   | Certificate of Merger filed with the Secretary of State of Delaware (incorporated by reference to the Company’s Current Report on Form 8-K filed with the Commission on April 15, 2008)                                                 |
|   |   |                                                                                                                                                                                                                                          |
| 3.9    |   | Certificate of Merger filed with Secretary of State of Nevada (incorporated by reference to the Company’s Current Report on Form 8-K filed with the Commission on April 15, 2008)                                                       |
|   |   |                                                                                                                                                                                                                                          |
| 3.10   |   | Certificate of Amendment to the Articles of Incorporation (incorporated by reference to the Company’s Current Report on Form 8-K filed with the Commission on April 15, 2008)                                                           |
|   |   |                                                                                                                                                                                                                                          |
| 10.1   |   | Employment Agreement with Pi-Yun Chu (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K/A filed with the Commission on February 20, 2008)                                                           |
|   |   |                                                                                                                                                                                                                                          |
| 10.2   |   | Employment Agreement with Shen-Ren Li (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K/A filed with the Commission on February 20, 2008)                                                          |
|   |   |                                                                                                                                                                                                                                          |
| 10.3   |   | Employment Agreement with Sheng-Peir Yang (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K/A filed with the Commission on February 20, 2008)                                                      |
|   |   |                                                                                                                                                                                                                                          |
| 31.1   |   | Certification by Chief Executive Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act.                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                          |
| 31.2   |   | Certification by Chief Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act.                                                                                                                                   |
|   |   |                                                                                                                                                                                                                                          |
| 32.1   |   | Certification by Chief Executive Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code.                                                              |
|   |   |                                                                                                                                                                                                                                          |
| 32.2   |   | Certification by Chief Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code.                                                              |

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|               | OMPHALOS, CORP. |                                      |
|--------------------|-----------------|-------------------------------------------|
|               |            |                                      |   |
| Date: May 10, 2011 | By:        | /s/ Sheng-Peir Yang                  |   |
|               |            | Sheng-Peir Yang                           |   |
|               |            | Chief Executive Officer, President        |   |
|               |            | and Chairman of the Board                 |   |
|               |            |                                      |   |
|               |            |                                      |   |
| Date: May 10, 2011 | By:        | /s/ Chu Pi Yun                            |   |
|               |            | Chu Pi Yun                                |   |
|               |            | Chief Financial Officer, Chief Accounting |   |
|               |            | Officer and Director                      |   |

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