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**UNITED STATESSECURITIES AND EXCHANGE COMMISSION**Washington, D.C. 20549

FORM 10-QSB

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

For the quarterly period ended OCTOBER 31, 2005

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

For the transition period from ____________to ____________

Commission file number: 0-50459

INVISION CAPITAL,
INC.(Exact name of small business issuer in its charter)

|Nevada                                                               | 98-0396733                          
|-------------------------------------------------------------------- | ------------------------------------
|(State or other jurisdiction of
      incorporation or organization) | (I.R.S. Employer Identification No.)
|                                                                     |                                     
|                                                                     |                                     
|768 Westcot Place                                                    |                                     
|West Vancouver, British
      Columbia                               | V7S 1N9                             
|(Address of principal executive offices)                             | (Zip Code)                          

Issuers telephone number: (604) 657-2443

Securities Registered Under Section 12(b) of the Exchange Act:
**None**

Securities Registered Under Section 12(g) of the Exchange Act:
**Common Stock, $0.001 par value**(Title of
class)

Indicate by check mark whether the issuer (1) has filed all reports
  required to be filed by Section 13 or 
  15(d) of the Exchange Act during the past 12 months (or for such shorter period
  that the registrant was 
  required to file such reports), and (2) has been subject to such filing requirements
  for the past 90 days. Ye**s x**No
   ̈

Indicate by check mark whether the registrant is an accelerated
  filer (as defined by Rule 12b-2 of the 
  Exchange Act) Yes  ̈ No x

Indicate by check mark whether the registrant is a shell corporation
  (as defined in Rule 12b-2 of the 
  Exchange Act) Yes xNo
   ̈

State the number of shares outstanding of each of the issuers
classes of common equity, as of the latest practicable date: 10,398,400
shares of Common Stock as of December 09, 2005.

Transitional Small Business Format. Yes  ̈
  No x

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PART I  FINANCIAL INFORMATION

Item 1. Financial Statements





2

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INVISION CAPITAL, INC. 
  (An Exploration Stage Company) 
  Condensed Balance Sheet (Unaudited)(Presented in U.S. Dollars)

October 31, 2005

|Assets                                      |  
|------------------------------------------- | -
|Current assets:                             |  
|Cash                                        | $
|                                            |  
|Liabilities and Shareholders
      Deficit |  
|Current liabilities:                        |  
|Accrued liabilities                         | $
|Indebtedness to related party (Note 2)      |  
|Total current liabilities                   |  
|                                            |  
|Shareholders deficit:                      |  
|Common stock                                |  
|Additional paid-in capital                  |  
|Accumulated deficit                         |  
|Cumulative translation
      adjustment     |  
|Total
      shareholders deficit           |  
|                                            | $

See accompanying notes to condensed financial statements

3

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INVISION CAPITAL, INC. 
  (An Exploration Stage Company) 
  Condensed Statements of Operations (Unaudited)(Presented in U.S. Dollars)

|                                                  |   |                    |   |   |             |   |   | January 24, |  
|------------------------------------------------- | - | ------------------ | - | - | ----------- | - | - | ----------- | -
|                                                  |   |                    |   |   |             |   |   | 2003        |  
|                                                  |   |                    |   |   |             |   |   | (Inception) |  
|                                                  |   | Three Months Ended |   |   | Through     |  
|                                                  |   | October 31,        |   |   | October 31, |  
|                                                  |   | 2005               |   |   | 2004        |   |   | 2005        |  
|Expenses:                                         |   |                    |   |   |             |   |   |             |  
|Contributed rent (Note 2)                         | $ | 300                |   | $ | 300         |   | $ | 3,300       |  
|Contributed administrative
      support (Note 2) |   | 50                 |   |   |            |   |   | 500         |  
|Unproven mineral interest acquisition
      costs |   |                   |   |   |            |   |   | 7,420       |  
|Unproven mineral interest
      exploration costs |   |                   |   |   |            |   |   | 18,787      |  
|Professional fees                                 |   | 1,298              |   |   | 1,520       |   |   | 33,880      |  
|Office                                            |   | 504                |   |   | 1,118       |   |   | 13,470      |  
|Other                                             |   | 33                 |   |   | 35          |   |   | 2,109       |  
|Total expenses                                    |   | 2,185              |   |   | 2,973       |   |   | 79,466      |  
|Loss from operations                              |   | (2,185             | ) |   | (2,973      | ) |   | (79,466     | )
|                                                  |   |                    |   |   |             |   |   |             |  
|Income tax provision (Note 4)                     |   |                   |   |   |            |   |   |            |  
|                                                  |   |                    |   |   |             |   |   |             |  
|Net loss                                          | $ | (2,185             | ) | $ | (2,973      | ) | $ | (79,466     | )
|                                                  |   |                    |   |   |             |   |   |             |  
|Basic and diluted loss per share                  | $ | (0.00              | ) | $ | (0.00       | ) |   |             |  
|                                                  |   |                    |   |   |             |   |   |             |  
|Basic and diluted weighted average                |   |                    |   |   |             |   |   |             |  
|common shares outstanding                         |   | 10,398,400         |   |   | 10,398,400  |   |   |             |  

See accompanying notes to condensed financial statements

4

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INVISION CAPITAL, INC. 
  (An Exploration Stage Company) 
  Condensed Statements of Cash Flows (Unaudited)(Presented in U.S. Dollars)

|                                                  |   |                    |   |   |             |   |   | January 24, |  
|------------------------------------------------- | - | ------------------ | - | - | ----------- | - | - | ----------- | -
|                                                  |   |                    |   |   |             |   |   | 2003        |  
|                                                  |   |                    |   |   |             |   |   | (Inception) |  
|                                                  |   | Three Months Ended |   |   | Through     |  
|                                                  |   | October 31,        |   |   | October 31, |  
|                                                  |   | 2005               |   |   | 2004        |   |   | 2005        |  
|Net cash used in                                  |   |                    |   |   |             |   |   |             |  
|operating activities                              | $ | (537               | ) | $ | (1,626      | ) | $ | (71,368     | )
|                                                  |   |                    |   |   |             |   |   |             |  
|Cash flows from financing activities:             |   |                    |   |   |             |   |   |             |  
|Capital contribution by
      an officer (Note 2) |   |                   |   |   |            |   |   | 99          |  
|Proceeds from officer loan (Note 2)               |   |                   |   |   |            |   |   | 3,225       |  
|Proceeds from the sale
      of common stock      |   |                   |   |   |            |   |   | 69,761      |  
|Net cash provided by                              |   |                    |   |   |             |   |   |             |  
|financing
      activities                        |   |                   |   |   |            |   |   | 73,085      |  
|                                                  |   |                    |   |   |             |   |   |             |  
|Effect of exchange rate changes on cash           |   | 50                 |   |   |            |   |   | 264         |  
|                                                  |   |                    |   |   |             |   |   |             |  
|Net
      change in cash                          |   | (487               | ) |   | (1,626      | ) |   | 1,981       |  
|                                                  |   |                    |   |   |             |   |   |             |  
|Cash, beginning of period                         |   | 2,468              |   |   | 10,672      |   |   |            |  
|                                                  |   |                    |   |   |             |   |   |             |  
|Cash, end of period                               | $ | 1,981              |   | $ | 9,046       |   | $ | 1,981       |  
|                                                  |   |                    |   |   |             |   |   |             |  
|Supplemental disclosure of cash flow information: |   |                    |   |   |             |   |   |             |  
|Income taxes                                      | $ |                   |   | $ |            |   | $ |            |  
|Interest                                          | $ |                   |   | $ |            |   | $ |            |  

See accompanying notes to condensed financial statements

5

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INVISION CAPITAL, INC. 
  (An Exploration Stage Company) 
  Notes to Condensed Financial Statements (Unaudited)

NOTE 1: BASIS OF PRESENTATION

The condensed financial statements presented herein have been
  prepared by the Company in accordance with the accounting policies in its audited
  financial statements for the year ended July 31, 2005 as filed in its Form 10-KSB
  and should be read in conjunction with the notes thereto. The Company is in
  the exploration stage in accordance with Industry Guide 7. On July 7, 2003,
  the Company entered into an Option to Purchase and Royalty Agreement to acquire
  an unproven mineral claim located in the Thunder Bay Mining Division, Ontario,
  Canada (see Note 3).

In the opinion of management, all adjustments (consisting only
  of normal recurring adjustments) which are necessary to provide a fair presentation
  of operating results for the interim period presented have been made. The results
  of operations for the periods presented are not necessarily indicative of the
  results to be expected for the year.

Interim financial data presented herein are unaudited.

The Companys functional currency is the Canadian dollar;
  however, the accompanying financial statements and footnotes refer to United
  States (U.S.) dollars unless Canadian dollars are specifically designated
  with CDN.

NOTE 2: RELATED PARTY TRANSACTIONS

An officer contributed office space to the Company for all periods
  presented. The office space was valued at $100 per month based on the market
  rate in the local area and is included in the accompanying financial statements
  as contributed rent expense with a corresponding credit to additional paid-in
  capital.

Officers have contributed administrative services to the Company
  since inception. The time and effort has been recorded in the accompanying financial
  statements based on the prevailing rates for such services, which equals $50
  per hour based on the level of services performed. The services are reported
  as contributed administrative services with a corresponding credit to additional
  paid-in capital.

During July 2005, the president advanced the Company CDN$4,000
  (US$3,225) for working capital. The loan does not carry an interest rate and
  is due on demand. The balance owed the officer is included in the accompanying
  financial statements as Indebtedness to related party.

In January 2003, the Company sold 4,000,000 shares of its restricted
  common stock to an officer for $4,000 ($.001/share).

6

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NOTE 3: OPTION ON UNPROVEN MINERAL INTERESTS

On July 7, 2003, the Company entered into an Option to Purchase
  and Royalty Agreement to acquire an unproven mineral claim located in the Thunder
  Bay Mining Division, Ontario, Canada. Under the terms of the Option Agreement,
  the Company is required to:

| | A. | Make cash payments and exploration expenditures as follows:
| | -- | -----------------------------------------------------------

Cash
      
      ExplorationPayments
      
      Expenditures
      
      **Due Date**CDN $10,000.00
      
      CDN $      
              -
      
      Closing of Option AgreementCDN $          
        -
      
      CDN $  35,000.00
      *
      June 30, 2004CDN $          
        -
      
      CDN $  75,000.00
      **
      June 30, 2006CDN $          
        -
      
      CDN $100,000.00
      **
      June 30, 2007CDN $50,000.00
      
      CDN $            
        -
      **
      January 1, 2008


|*  | During June 2004, the optionor reduced the
        amount of exploration costs to be incurred through June 30, 2004 from
        CDN$35,000 to CDN$25,370. The Company paid CDN$25,370 (US$18,787) in accordance
        with the revised terms of the agreement.
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                  
|** | During June 2005, the optionor extended the
        remaining deadlines for completion of the exploration program by a period
        of one year.                                                                                                               
|   |                                                                                                                                                                                                                                                                  
|   | B.                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                  
|   | C.                                                                                                                                                                                                                                                               

In addition to the above terms, the optionor will retain a four
  percent net smelter royalty in the mineral claims.

NOTE 4: INCOME TAXES

The Company records its income taxes in accordance with SFAS
  No. 109, Accounting for Income Taxes. The Company incurred net operating
  losses during the periods shown on the condensed financial statements resulting
  in a deferred tax asset, which was fully allowed for; therefore, the net benefit
  and expense result in $-0- income taxes.

7

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

Cautionary Statement Regarding Forward-Looking
Statements

This quarterly report contains forward-looking statements as
that term is defined in the Private Securities Litigation Reform Act of 1995.
These statements relate to future events or our future financial performance.
Some discussions in this report may contain forward-looking statements that
involve risk and uncertainty. A number of important factors could cause our
actual results to differ materially from those expressed in any forward-looking
statements made by us in this report. Forward-looking statements are often
identified by words like: believe, expect, estimate, anticipate,
intend, project and similar expressions or words which, by their nature,
refer to future events.

In some cases, you can also identify forward-looking statements
by terminology such as may, will, should, plans, predicts, potential
or continue or the negative of these terms or other comparable terminology.
These statements are only predictions and involve known and unknown risks,
uncertainties and other factors, including the risks in the section entitled
"Risk Factors" on page 7, that may cause our or our industry's actual results,
levels of activity, performance or achievements to be materially different from
any future results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements.

Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity or achievements. Except as required by applicable law,
including the securities laws of the United States, we do not intend to update
any of the forward-looking statements to conform these statements to actual
results.

Our financial statements are stated in United States Dollars
(US$) and are prepared in accordance with United States Generally Accepted
Accounting Principles. All references to "common shares" refer to the common
shares in our capital stock.

As used in this annual report, the terms "we", "us", "our", and
"Invision" mean Invision Capital, Inc., unless otherwise indicated.

Invision is an exploration stage corporation. There is no
assurance that commercially viable mineral deposits exist on the claims that we
have under option. Further exploration will be required before a final
evaluation as to the economic and legal feasibility of the claims is
determined.

Glossary of Exploration Terms

The following terms, when used in this report, have the
respective meanings specified below:

|Diamond drill  | A type of rotary drill in which the cutting is done by
      abrasion rather than percussion. The cutting bit is set with diamonds and
      attached to the end of the long hollow rods through which water is pumped
      to the cutting face. The drill cuts a core of rock, which is recovered in
      long cylindrical sections an inch or more in diameter.
|-------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
|
|
|Exploration    | The prospecting, trenching, mapping, sampling,
      geochemistry, geophysics, diamond drilling and other work involved in
      searching for mineral bodies.                                                                                                                                                                                                     
|
|Mineral        | A naturally occurring inorganic element or compound
      having an orderly internal structure, characteristic chemical composition,
      crystal form & physical properties                                                                                                                                                                                      
|
|Mineralization | Rock containing an undetermined amount of minerals or
      metals.                                                                                                                                                                                                                                                                                                

8

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Foreign Currency and Exchange Rates

Dollar costs of Invisions property acquisition and planned
  exploration costs are in Canadian Dollars. For purposes of consistency and to
  express United States Dollars throughout this report, Canadian Dollars have
  been converted into United States currency at the rate of US $1.00 being approximately
  equal to CA $1.25 or CA $1.00 being approximately equal to US $0.80 which is
  the approximate average exchange rate during recent months and which is consistent
  with the incorporated financial statements.

---

THE FOLLOWING ANALYSIS OF THE RESULTS OF OPERATIONS AND
FINANCIAL CONDITION OF THE CORPORATION FOR THE PERIOD ENDING OCTOBER 31, 2005
SHOULD BE READ IN CONJUNCTION WITH THE CORPORATIONS CONSOLIDATED FINANCIAL
STATEMENTS, INCLUDING THE NOTES THERETO CONTAINED ELSEWHERE IN THIS FORM
10-QSB.

Overview

Invision Capital, Inc. was incorporated in the State of Nevada
on January 24, 2003 and established a fiscal year end of July 31. Our statutory
registered agent's office is located at 251 Jeanell Drive, No. 3, Carson City,
Nevada and our business office is located at 768 Westcot Place, West Vancouver,
British Columbia, Canada. Our telephone number is (604) 657-2443. There have
been no material reclassifications, mergers, consolidations or purchases or
sales of any significant amount of assets not in the ordinary course of business
since the date of incorporation. We are a start-up, exploration stage
corporation engaged in the search for gold and related minerals. There is no
assurance that a commercially viable mineral deposit, a reserve, exists in our
claims or can be shown to exist until sufficient and appropriate exploration is
done and a comprehensive evaluation of such work concludes economic and legal
feasibility.

On July 07, 2003, Invision optioned a mineral property
containing one (1) mining claim located in the Thunder Bay Mining Division of
the province of Ontario, Canada called the Muriel Lake Property by entering into
an Option To Purchase And Royalty Agreement dated July 07, 2003, as amended on
June 30, 2005, with Richard T. Heard and Nicholas G. Carter, the beneficial
owners of the claim, each a resident of Canada, to acquire the claim through the
carrying out of a three phase exploration program, making annual option payments
commencing no later than January 01, 2008 and paying the vendors a royalty from
production.

Under the terms of the option agreement, Messrs. Heard and
Carter granted to Invision the sole and exclusive right and option to acquire
100 percent of the right, title and interest of Heard and Carter in the Muriel
Lake property, subject to the vendors receiving annual payments, a royalty
interest and common shares of Invision, in accordance with the terms of the
option agreement with the following commitments still outstanding:

| |  | Invision must incur exploration expenditures of $60,000
      before June 30, 2006;                                                                                                                                                                      
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | Invision must incur further exploration expenditures of
      $80,000 before June 30, 2007;                                                                                                                                                              
| |  | Invision must pay to the vendors $40,000 by January 01,
      2008 as a prepayment of the net smelter royalty;                                                                                                                                           
|
| |  | Upon exercise of the option, Invision must pay,
      commencing January 1, 2009, the sum of $40,000 per annum as an advance
      against the net smelter royalty for as long as Invision, or its assigns,
      holds any interest in the property; and
|
|

9

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| |  | Upon the commencement of commercial production from the
      property, Invision or its successor under this agreement agrees to pay to
      the vendors, two hundred fifty thousand (250,000) shares in the capital of
      Invision or any successor corporation.
| | - | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
|

Regarding each of the above cash or share payments to the
vendors, we must complete the phase contemplated and must decide and provide
written notice to the vendors that we intend to proceed to the next phase before
making the indicated payment.

Under the option agreement Messrs. Heard and Carter, retain a
4% net smelter royalty for all minerals mined from the claim. Net smelter
returns (NSR) refers to the net proceeds received by Invision from any smelter
or other purchaser from the sale of any ores, concentrates or minerals produced
from the claim without encumbrances. The above noted payments are advances
against that royalty. In the event that Invision sells or transfers its interest
to a third party, that party will assume the obligations under the NSR provision
of the agreement.

The name, tenure number, date of recording and expiration date
of the claim is as follows:

Claim
      Name
    Claim No.
    Recorded Holder
    Expiry Date
    Area Hectares
    Area AcresMuriel
      Lake
    TB 1187566
    N.C. Carter & R.T. Heard
    July 4, 2006
    16
    40TOTAL (Hectares / Acres)
    16
    40


To date we have spent $18,787 on research and development
activities and $7,420 on property acquisition costs. As part of the acquisition
cost Mr. Nicholas C. Carter, Ph.D., P.Eng., provided a Prospecting Report on the
Muriel Lake Property dated May 23, 2003. On July 20, 2004 Mr. Carter presented
his report on the results of the phase I exploration program which recommended
additional claims be staked to the east, west and north of the existing claim
block and updated all the work done on the claim to date.

Mr. Carter is a registered Professional Geologist in good
standing in the Association of Professional Engineers and Geoscientists of
British Columbia, Canada. He is a graduate of the University of New Brunswick
with a Bachelor of Science Degree (1960), a Master of Science degree in geology
in 1962 from Michigan Technological Institute and a Ph.D. degree in geology from
the University of British Columbia in 1974. He has practiced his profession as a
consulting exploration geologist for the past forty (40) years.

Messrs Heard and Carter hold the mining rights to the claim
which thereby gives them or their agent, the right to mine and recover all of
the minerals contained within the surface boundaries of the lease continued
vertically downward. Heard and Carter have granted an option to Invision to
allow Invision to explore, mine and recover any minerals on the claim.

The claim is unencumbered and there are no competitive
conditions which affect the claim. Further, there is no insurance covering the
claim and we believe that no insurance is necessary since the claim is
unimproved and contains no buildings or improvements.

To keep the claims in good standing, we must perform annual
exploration work on the claims or pay $8.00 per hectare ( a total cost of
$128.00) to prevent the claims from reverting to the Crown.

Only one of the directors or officers has professional or technical
  accreditation in the exploration, development or operations of metal mines,
  that being Mr. David Duval. During the past year, Mr. Frank Rigney has spent
  approximately 15% of his time (approximately 9 hours per week) on the affairs
  of Invision.

10

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Those ratios and hours are expected to continue at that same
  level into the foreseeable future. Mr. Duval joined the Board of Directors on
  January 28, 2004. He is an independent consultant to the mining industry, has
  been employed as a technical advisor to the United Nations, mine planner, production
  supervisor, technical service representative and was responsible for the development
  of a 500 ton-per-day copper mine in Quebec. It is expected that he will spend
  approximately 2% (1 to 11⁄2 hours per week) of his time on the affairs
  of Invision for the foreseeable future.

Employees

Initially, we are using the services of subcontractors for manual labour and exploration work on our property and Mr. N.C. Carter, P. Eng. to manage the exploration program.

We intend to hire geologists, engineers and excavation subcontractors on an as needed basis. We have not entered into negotiations or contracts with any of them other than the fact that we plan to retain Mr. Heard to supervise and carry out the
Phase II work program during June, 2006 as he was responsible for the phase I program in 2004.

At present, we have no employees, other than Messrs. Rigney and Duval, our officers and directors. Messrs. Rigney and Duval do not have employment agreements with us. We presently do not have pension, health, annuity, insurance, stock options,
profit sharing or similar benefit plans; however, we may adopt such plans in the future. There are presently no personal benefits available to any employees.

Offices

Our offices are located at 768 Westcot Place, West Vancouver, B.C. Canada. Currently, these facilities are provided to us by Frank J. Rigney, one of our directors and our President, without charge, but such arrangement may be cancelled at anytime
without notice. As our business activities continue, we anticipate that we will be required to pay a pro rata share of the rent incurred for the facilities that we occupy. Specific direct expenses incurred such as telephone and secretarial services
will be charged back to Invision at cost on a periodic basis.

Risks

At present we do not know whether or not the claim contains commercially exploitable reserves of gold or any other valuable mineral. Additionally, the proposed expenditures to be made by us in the exploration of the claim may not result in the
discovery of commercial quantities of ore. Problems such as unusual or unexpected formations and other unforeseen conditions involved in mineral exploration often result in unsuccessful exploration efforts. In such a case, we would be unable to
complete our business plan.

We had sufficient financial resources to complete the first phase of our proposed exploration plan. However, in order to complete all phases of our proposed program we will need to raise additional funding. Even with the first phase of our
exploration program being deemed to be successful there is no guarantee that we will be able to raise any additional capital in order to finance the second or third phases. Should we be unable to raise additional funding to complete the second and
third phases of our exploration plan, we would have to cease business operations.

Finally, even if our exploration program is successful we
  may not be able to obtain commercial production. If our program is successful
  and commercial quantities of ore are discovered we will require significant
  amounts of additional funds to place the claim into commercial production.

11

---

Should we be unable to raise additional funds to put the claim
  into production we would be unable to see the claim evolve into an operating
  mine and we would have to cease operations.

Results of Operations

Invision was incorporated on January 24, 2003. Comparative periods for the three month periods ended October 31, 2005 and October 31, 2004 and inception to October 31, 2005 are presented in the following discussion.

Since inception, we have used our common stock to raise money for our optioned acquisition, corporate expenses, the phase I exploration program and to repay outstanding debt. Net cash provided by financing activities from inception on January 24,
2003 to October 31, 2005 was $73,860 as a result of proceeds from the sale of our common stock and advances by a director.

The Corporation did not generate any revenues from operations for the quarter ended October 31, 2005.

REVENUES

REVENUE: Invision did not generate any revenues for the quarter ended October 31, 2005 or October 31, 2004 nor for the period January 24, 2003 (inception) through October 31, 2005.

COMMON STOCK: Since inception, we have used our common stock to raise money for our optioned acquisition, for corporate expenses and to repay outstanding indebtedness. Net cash provided by financing activities during the quarter under review ended
October 31, 2005 was $0 as compared to $0 from inception on January 24, 2003 to October 31, 2005 was $73,085 as a result of proceeds received from sales of our common stock. No shares were issued in the most recent quarter and no options
or warrants were issued to issue shares at a later date.

EXPENSES

SUMMARY: During the quarter ended October 31, 2005, Invision incurred operating expenses of $2,185, as compared to $2,973 in the same period last year, and $79,466 since inception. The lower expenses in the most recent quarter relates
mainly to the less expensive review period following receipt of the engineering report on the Corporations optioned claim and the effort to secure funds for the next phase of the exploration program. As a result, operating costs have decreased
significantly and will likely remain low until the last quarter of the fiscal year. The costs can be further subdivided into the following categories:

RESEARCH AND DEVELOPMENT or UNPROVEN MINERAL EXPLORATION COSTS: Invision has not incurred any expenses for research and development or unproved mineral exploration costs during the quarters ended October 31, 2005 or October 31, 2004 but $18,787
has been incurred since inception on January 24, 2003 for costs incurred in the exploration of our optioned claim.

CONTRIBUTED EXPENSES: $350 in contributed expenses (for
  contributed rent and administrative costs) were incurred for the quarter as
  compared to $300 for the same period last year. For the period January 24,
  2003 (inception) through October 31, 2005, $3,800 has been recorded for
  contributed expenses. All contributed expenses are reported as contributed costs
  with a corresponding credit to additional paid-in capital. Contributed expenses
  are relatively consistent from one period to another.

12

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UNPROVEN MINERAL ACQUISITION COSTS: During the quarter ended October 31, 2005 $0 was expended on unproven mineral acquisition costs and, for the same period last year $0 was incurred in acquiring our claim(s). For the period January 24, 2003
(inception) through October 31, 2005, a total of $7,420 has been recorded for unproven mineral acquisition costs.

PROFESSIONAL FEES: Invision incurred $1,298 in professional fees for the quarter as compared to $1,520 for the same period last year. Since inception, we have incurred $33,880 in professional fees which have been mainly incurred for
legal and accounting matters.

COMPENSATION: No compensation costs were incurred during the quarter ended October 31, 2005 nor during the quarter ended October 31, 2004 and none have been incurred since inception on January 24, 2003.

OFFICE EXPENSES: $504 was expended on general office expenses for the current quarter as compared to $1,118 during the corresponding quarter in the preceding year. For the period January 24, 2003 (inception) through October 31, 2005 a total
of $13,470 has been spent on office and related expenses.

OTHER COSTS: $33 in other costs were incurred in the quarter as compared to $35 last year over the same period. For the period January 24, 2003 (inception) through October 31, 2005, Invision has spent a total of $2,109 on other or
miscellaneous expenses.

NET CASH USED IN OPERATING ACTIVITIES: For the quarter ended October 31, 2005, $537 in net cash has been used compared to $1,626 for the three months ended October 31, 2004. We have used total net cash of $61,368 from inception on
January 24, 2003 to October 31, 2005.

INTEREST INCOME / EXPENSES: Invision has neither received nor paid interest since its inception on January 24, 2003.

INCOME TAX PROVISION: As a result of operating losses, there has been no provision for the payment of income taxes to date in 2004 - 2005 or from the date of inception.

EXPLORATION PROGRAM: Near the end of July, 2004, the Progress Report on the Muriel Lake Property as authored by N.C. Carter, Ph.D., P.Eng., was received by the Board of Directors. In the report, Mr. Carter concluded that in view of the known
extension of favourable geology well beyond the boundaries of the current claim, plus the presence of several sulphide zones east, west and north of the claim, it would be in order to acquire more ground prior to the initiation of further work in
the Muriel Lake area. The staking of an additional 40 to 50 mining claim units extending east, west and north of the current claim was recommended. Although the Board of Directors is of the opinion that additional claims should be staked it remains
indeterminate as to whether they would be owned by Heard and Carter and optioned to Invision or whether they should be acquired by Invision on its own behalf. Since it will require significant expenditures to accomplish the Board is currently
seeking both advice and additional funding.

During the quarter, Invision did not sell any shares of its common stock. As of the date of this report Invision has 10,398,400 common shares issued and outstanding.

Invision continues to carefully control its expenses and overall
  costs as it moves forward with the development of its business plan. Invision
  does not have any employees and engages personnel through outside consulting
  contracts or agreements or other such arrangements, including for legal, accounting
  and technical consultants.

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Plan of Operation

For the balance of the current fiscal year we will concentrate our efforts on preparing for proceeding with phase II in the summer of 2006 at an estimated cost of $120,000 including property acquisition costs (staking of additional claims). We
will proceed to phase II only if we are successful in being able to secure the capital funding required to complete phase II. If phase II is not successful, we will terminate the option on the claim. Following industry trends and demands we are also
considering the acquisition of other properties to conduct exploration works for gold. In either situation a new public offering might be needed to be completed.

Invision believes it can satisfy its administrative cash requirements through the fiscal year end of July 31, 2005, only though further advances from the directors and further equity financing. As of October 31, 2005, we had a working capital
deficit of $5,542. It will be necessary to secure additional funding to complete phase II of the exploration program and stake additional acreage.

Upon a decision, in joint discussions with Messrs Heard and Carter, as to the staking of additional claims and resolution of the issue as to what name or names the added claims would be registered in and how Invision will participate in the
ownership and funding, we would then proceed to Phase II which will be directed towards a continuation of the exploration and prospecting program including an indeterminate amount of diamond drilling. A diamond drill is a drilling machine with a
rotating, hollow, diamond studded bit that cuts a circular core which can be recovered in lengths to provide a continuous sample of the column of rock penetrated. The core is then split in half, crushed and analyzed for the various minerals it may
contain. It is anticipated that some additional geological mapping, prospecting and some geochemical sampling will take place as the drilling progresses.

Geochemistry is the study of the relative and absolute occurrences of various elements and their atomic species in the earths crust. It can be defined very broadly to include all the parts of the study of geology that involve chemical changes
or may be focussed on the distribution of the elements. We are interested in determining what the broad chemical makeup of the claim looks like and what changes have taken place over geologic time. The second phase excluding the time and costs of
addition land acquisition may take up to four months to complete and will have an estimated cost of $60,000, based on the requirements of the option agreement and which is a reflection of local costs for the specified type of work.

We plan to raise the additional capital required to meet the balance of our estimated funding requirements for the next twelve months, primarily through the private placement of our securities. We do not anticipate that we will be able to satisfy
any of these funding requirements internally until we significantly increase our revenues.

We do not expect any changes or more hiring of employees since contracts are given to consultants and sub-contractor specialists in specific fields of expertise for the exploration works.

If phase II is successful we would then proceed to phase III
  in 2007 at an estimated cost of $80,000 also based on the recommendations
  of Mr. Carters report, which costs are a reflection of local costs for
  the type of work program planned. We will proceed to phase III only if we are
  also successful in being able to secure the capital funding required to complete
  that phase. Similarly, if phase III is not successful, we will terminate the
  option on the claim.

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On October 18, 2005, the shares of Invision were made available for quotation on the Over-the-Counter Bulletin Board under the symbol IVCL. As of the date of this report the shares are offered for sale at a price of $0.20 and a bid
price of $0.15.

Liquidity and Capital Resources

As of end of the first quarter on October 31, 2005, we have yet to generate any revenues from our business operations.

Since inception, we have used our common stock to raise money for our optioned acquisition, for corporate expenses and to repay outstanding indebtedness. Net cash provided by financing activities from inception on January 24, 2003 to October 31,
2005 was $73,085 as a result of proceeds received from sales of our common stock and advances made by a director.

We issued 4,000,000 shares of common stock through a Section 4(2) offering in January 2003 for cash consideration of $4,000. We then issued 6,000,000 shares of common stock through a Rule 903, Regulation S offering in March, 2003 for cash
consideration of $6,000. Finally, we issued 397,740 shares of common stock through a Rule 903, Regulation S offering in May and June, 2003 for cash consideration of $59,860.

As of October 31, 2005, our assets which consist entirely of cash and prepaid expenses amounted to $1,981 and our liabilities were $7,523. Working capital stood at negative $5,542.

For the quarter ended October 31, 2005, the net loss was $2,185 ($0.0002 per share) versus a loss of $2,973 ($0.0003 per share) in the same quarter last year. The loss per share was based on a weighted average of 10,398,400 common
shares outstanding in the each of the noted quarters. For the period from inception on January 24, 2003 through October 31, 2005, the cumulative net loss was $79,466.

Due to the uncertainty of our ability to meet our current operating and capital expenses, in their report on the annual financial statements for the year ended July 31, 2005, our independent auditors included an explanatory paragraph regarding
concerns about our ability to continue as a going concern. Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure by our independent auditors.

There is substantial doubt about our ability to continue as a going concern as the continuation of our business is dependent upon obtaining further financing. The issuance of additional equity securities by us could result in a significant dilution
in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

There are no assurances that we will be able to obtain further funds required for our continued operations. We are pursuing various financing alternatives to meet our immediate and long-term financial requirements. There can be no assurance that
additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will not be able to meet our other
obligations as they become due.

If it turns out that we have not raised enough money to complete
  our secondary exploration program, we will try to raise additional funds from
  a second public offering, a private placement, loans or the establishment of
  a joint venture whereby a third party would pay the costs associated with the
  phase II and we would retain a carried interest.

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At the present time, we have not made any plans to raise additional
  money and there is no assurance that we would be able to raise additional money
  in the future. If we need additional money and can't raise it, we will have
  to suspend or cease business operations.

Inflation / Currency Fluctuations

Inflation has not been a factor during the recent quarter ended
October 31, 2005. Inflation is moderately higher than it was during 2004 but the
actual rate of inflation is not material and is not considered a factor in our
contemplated capital expenditure program.

Item 3. Controls and Procedures

The registrant's certifying officers are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and the Corporations
Chief Executive Officer and Chief Financial Officer have:

| | a) | designed such disclosure controls and procedures to
      ensure that material information relating to the registrant, including its
      consolidated subsidiaries, is made known to us by others within those
      entities, particularly during the period in which this quarterly report is
      being prepared;
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | b) | evaluated the effectiveness of the our disclosure
      controls and procedures as of the filing date of this quarterly report
      (the "Evaluation Date"); and                                                                                                                                                      
| | c) | presented in this quarterly report our conclusions about
      the effectiveness of the disclosure controls and procedures based on our
      evaluation as of the Evaluation Date;                                                                                                                                    

There have been no significant changes in the our internal controls
  or in other factors that could significantly affect these controls subsequent
  to the date of their evaluation, including any corrective actions with regard
  to significant deficiencies and material weaknesses.

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PART II  OTHER INFORMATION

Item 1. Legal Proceedings

The Corporation is and has not been party to any legal
proceedings in the preceeding quarter.

Item 2. Changes in Securities

Invision had 10,398,400 shares of common stock issued and
outstanding as of October 31, 2005. Of these shares, 4,000,000 shares are held
by an affiliate of Invision; some of those shares can be resold in compliance
with the limitations of Rule 144 as adopted by the Securities Act of 1933, as
amended (the Securities Act).

In general, under Rule 144, a person who has beneficially owned
  shares privately acquired directly or indirectly from us or from one of our
  affiliates, for at least one year, or who is an affiliate, is entitled to sell,
  within any three-month period, a number of shares that do not exceed the greater
  of 1% of the outstanding shares or the average weekly trading volume in our
  shares during the four calendar weeks immediately preceding such sale. Sales
  under Rule 144 are also subject to certain manner of sale provisions, notice
  requirements and the availability of current public information about us.

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A person who is not deemed to have been an affiliate at any time
  during the 90 days preceding the sale, and who has beneficially owned restricted
  shares for at least two years, is entitled to sell all such shares under Rule
  144 without regard to volume limits, current public information requirements,
  manner of sale provisions or notice requirements.

The issuances discussed under this section are exempted from
registration under Rule 504 or Regulation S or Section 4 (2) of the Securities
Act, as provided. All purchasers of Invisions securities acquired the shares
for investment purposes only and all stock certificates reflect the appropriate
legends. No underwriters were involved in connection with the sale of securities
referred to in this report.

Item 3. Defaults Upon Senior Securities

The have been no defaults upon Invisions senior or other
securities in the preceeding quarter.

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

No matter has been submitted to a vote of security holders
during the preceeding quarter.

Item 5. Other Information

Use of Proceeds

Net cash provided by financing activities from inception on
January 24, 2003 to October 31, 2005 was $73,085 as a result of proceeds
received from sales of our common stock and advances made by a director. During
the period January 24, 2003 to October 31, 2005, the following table indicates
how those proceeds have been spent to date:

Unproven Mineral Interest Acquisition Costs
    $7,420Unproven Mineral Interest Exploration Costs
    18,787Professional Fees
    33,880Office Expenses
    12,998Total Use of Proceeds to
      October 31, 2005
    $73,085


Common Stock

During the three-month period ended October 31, 2005 no shares
of common stock were issued. As of October 31, 2005, there were 10,398,400
shares issued and outstanding and as of December 09, 2005 there were 10,398,400
shares outstanding.

Options

No options were granted during the three-month period ending
October 31, 2005.

Item 6. Exhibits and Reports on Form 8-K

The following reports on Form 8-K were filed during the quarter
  ended October 31, 2005: NIL

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Exhibits

|31.1 | Certification of Chief Executive
        Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350,
        as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                               
|32.1 | Certification of Chief Executive
        Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section
        906 of the Sarbanes-Oxley Act of 2002.                            
|     |                                                                                                                                                                                               
|32.2 | Certification of Chief Financial
        Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section
        906 of the Sarbanes-Oxley Act of 2002.                            
|     |                                                                                                                                                                                               
|     |                                                                                                                                                                                               

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Invision Capital, Inc.(Registrant)

Date: December 14, 2005

Frank J. RigneyPresident, Chief Executive Officer, Principal
Executive Officer, Treasurer, Chief Financial Officer, Principal Financial
Officer Member of the Board of Directors

David K. Duval 
  Member of the Board of Directors



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