UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 10-QSB  x
        QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934.FOR THE QUARTERLY PERIOD ENDED June 30, 2005  OR  o
        TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934  Commission File Number 333-105778  MORTGAGEBROKERS.COM HOLDINGS, INC. (Exact name of registrant as specified in its charter)  DELAWARE
        
        05-0554486(State or other jurisdiction ofincorporation or organization)
        
        (I.R.S. EmployerIdentification No.)  45 Vogell Road, Suite 101, Richmond Hill, Ontario L4B-3P6 (Address of principal executive offices and zip code  Registrants telephone number, including area code: (416) 410-4848    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 preceding 12 months (or for such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yesx
        Noo Indicate the number of shares outstanding of the Registrants common stock as of the latest practicable date.  Class
        
        Outstanding at August 22, 2005Common Stock, $.0001 par value
        
        32,935,000           INDEX PAGEPART I.
        
        FINANCIAL INFORMATIONItem 1.
        
        Financial StatementsUnaudited Condensed Consolidated Balance Sheetsat June 30, 2005 andDecember 31, 2004
        
        1Unaudited Condensed Consolidated Statements of Operations for the SixMonths Ended June 30, 2005
        
        2Unaudited Condensed Consolidated Statements of Cashflowsfor the SixMonths Ended June 30, 2005,
        
        3NotesUnaudited to Condensed Consolidated Financial Statements
        
        4Item 2.
        
        Managements Discussion and Analysis or Plan of Operations
        
        6Item 3.
        
        Controls and Procedures
        
        14PART II.
        
        OTHER INFORMATIONItem 6.
        
        Exhibitsand Reports on Form 8-K
        
        15Signatures
        
        16          PART I
        FINANCIAL INFORMATION Item 1. Financial Statements   MORTGAGEBROKERS.COM HOLDINGS, INC. AND SUBSIDIARIES [Formerly Known as MagnaData, Inc.] (A Development Stage Enterprise)  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS  June 30, 2005   TABLE OF CONTENTS       PageCondensed Consolidated Balance Sheets
        2Condensed Consolidated Statements of Operations
        3Condensed Consolidated Statements of Cash Flows
        4Notes to the Condensed Consolidated Financial Statements..............................
        5-7              MORTGAGEBROKERS.COM HOLDINGS, INC. AND SUBSIDIARIES[Formerly Known as MagnaData, Inc.](A Development Stage Enterprise)CONDENSED CONSOLIDATED BALANCE SHEETSJune 30,
        
        
        December 31,2005
        
        
        2004(Unaudited)ASSETSCURRENT ASSETSCash
        
        $
        59,819
        
        $
        8,416Employee Loan Receivable
        
        
        40,795
        
        
        -Total Current Assets
        
        
        100,614
        
        
        -Investment
        
        
        8,100
        
        
        -Other Assets
        
        
        7,857
        
        
        -Furniture and Equipment, net
        
        
        55,780
        
        
        -TOTAL ASSETS
        
        $
        172,351
        
        $
        8,416LIABILITIES AND STOCKHOLDERS EQUITYAccrued Liabilities
        
        $
        99,307
        
        $
        75,705Related Party Payable
        
        
        32,901
        
        
        5,135TOTAL LIABILITIES
        
        
        132,208
        
        
        80,840STOCKHOLDERS EQUITYPreferred stock- $.0001 par value; 5,000,000 shares authorized, none issued
        
        
        -
        
        
        -Common Stock - $.0001 par value; 100,000,000 shares authorized;33,154,230 and 1,929,000 issued and outstanding
        
        
        302
        
        
        193Additional paid-in capital
        
        
        315,015
        
        
        87,812Accumulated deficit
        
        
        (273,758)
        
        
        (160,429)Accumulated other comprehensive income
        
        
        (1,416)
        
        
        -TOTAL STOCKHOLDERS EQUITY
        
        
        40,143
        
        
        (72,424)TOTAL LIABILITIES AND STOCKHOLDERS EQUITY
        
        $
        172,351
        
        $
        8,416  The accompanying notes are an integral part of these financial statements.  2     MORTGAGEBROKERS.COM HOLDINGS, INC. AND SUBSIDIARIES[Formerly Known as MagnaData, Inc.](A Development Stage Enterprise)CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSFor the Periodfrom February 6,Three Months Ended June 30,
        
        Six Months Ended June 30,
        
        2003 (inception)2005
        
        2004
        
        2005
        
        2004
        
        to June 30, 2005(Unaudited)
        
        (Unaudited)Revenues
        $
        32,470
        $
        -
        $
        32,470
        $
        -
        $
        32,470General and administrative expenses
        
        215,934
        
        14,384
        
        226,139
        
        35,658
        
        386,568NET LOSS FROM OPERATIONS
        
        (183,464)
        
        (14,384)
        
        (193,669)
        
        (35,658)
        
        (354,098)Other income (expense)Interest expense
        
        (85)
        
        -
        
        (85)
        
        -
        
        (85)Total other income (expense)
        
        (85)
        
        
        
        (85)
        
        -
        
        (85)Gain on extinguishment of debt
        
        -
        
        -
        
        80,425
        
        -
        
        80,425NET INCOME (LOSS)
        $
        (183,549)
        $
        (14,384)
        $
        (113,329)
        $
        (35,658)
        $
        (273,758)Comprehensive income (loss)Foreign currency translation adjustment
        
        (1,416)
        
        -
        
        (1,416)
        
        -
        
        (1,416)Total comprehensive income (loss)
        
        (184,965)
        
        (14,384)
        
        (114,745)
        
        (35,658)
        
        (275,174)Net loss per share - basic and diluted
        $
        (0.02)
        $
        (0.01)
        $
        (0.01)
        $
        (0.02)Weighted average number of sharesoutstanding - basic and diluted
        
        8,447,202
        
        1,538,121
        
        20,827,144
        
        1,521,560

The accompanying notes are an integral part of these financial statements.



3





MORTGAGEBROKERS.COM HOLDINGS, INC. AND SUBSIDIARIES[Formerly Known as MagnaData, Inc.](A Development Stage Enterprise)CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSFor the Periodfrom February 6,Six Months Ended June 30,
        
        
        2003 (inception)2005
        
        
        2004
        
        
        to June 30, 2005(Unaudited)
        
        
        (Unaudited)Cash Flows from Operating ActivitiesNet income (loss)
        
        $
        (113,329)
        
        $
        (35,658)
        
        $
        (273,758)Depreciation
        
        
        3,875
        
        
        
        
        
        3,875Foreign currency translation adjustment
        
        
        (1,416)
        
        
        
        
        
        (1,416)Changes in assets and liabilitiesEmployee receivable
        
        
        (40,795)
        
        
        
        
        
        (40,795)Other assets
        
        
        (7,857)
        
        
        5,833
        
        
        (7,857)Accounts payable
        
        
        23,602
        
        
        18,619
        
        
        99,307Net cash used in operating activities
        
        
        (135,920)
        
        
        (11,206)
        
        
        (220,644)Cash Flows from Investing Activities
        
        
        -
        
        
        -
        
        
        -Purchase of subsidiary
        
        
        (8,100)
        
        
        -
        
        
        (8,100)Purchase of equipment
        
        
        (59,655)
        
        
        -
        
        
        (59,655)Net cash used by investing activities
        
        
        (67,755)
        
        
        -
        
        
        (67,755)Cash Flows from Financing ActivitiesProceeds from note payable
        
        
        27,766
        
        
        5,000
        
        
        32,901Issuance of common stock
        
        
        227,312
        
        
        11,400
        
        
        315,317Net cash used by financing activities
        
        
        255,078
        
        
        16,400
        
        
        348,218Change in Cash
        
        
        51,403
        
        
        5,194
        
        
        59,819Cash - Beginning of period
        
        $
        8,416
        
        $
        219
        
        $
        -Cash - Ending of period
        
        $
        59,819
        
        $
        5,413
        
        $
        59,819






The accompanying notes are an integral part of these financial statements.



4













MORTGAGEBROKERS.COM HOLDINGS, INC AND SUBSIDIARIES.

[Formerly Known As Magnadata, Inc.]

(A Development Stage Enterprise)

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT

FOR THE SIX MONTHS ENDED JUNE 30, 2005





NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES



Organization



MortgageBrokers.com, Holdings Inc. (the Company) registered a change of name with the state of Delaware in 2005 it was formerly known as MagnaData, Inc. and organized under the laws of the State of Delaware on February 6, 2003. The Companys wholly owned subsidiary, MagnaData (NC), Inc. was incorporated under the laws of North Carolina on February 18, 2003. The Company is considered a development stage enterprise and is in the process of raising capital to fund operations. As such, the Company has since inception spent most of its efforts in developing its business plan and in raising capital to fund its operations. The Company has relied upon cash flows from equity issuances to sustain operations. The planned operations of the Company consist of becoming a mortgage broker in Ontario through its subsidiary mortgagebrokers.com, Inc.



Development Stage Enterprise



The Company is currently devoting substantially all of its efforts to establishing a new business and its planned principle operations have not commenced as of December 31, 2004. In their efforts to establish a new business, management is commencing with design of its business and marketing plans that include the following:  preparation of a financial plan, cash forecast and operating budget; identifying markets to raise additional equity capital and debt financing; embarking on research and development activities; performing employment searches, recruiting and hiring technicians and management and industry specialists; acquiring operational and technological assets; and, developing market and distribution strategies. General and administrative expenses include professional fees, internet service charges, and other related operating expenses. Marketing and promotional expenses include costs incurred in
connection with raising capital and promoting the Company.


Interim Financial Statements

The accompanying interim unaudited financial information has been prepared 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 accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not misleading. The interim financial statements should be read in conjunction with the Companys annual financial statements, notes and accounting policies included in the Companys annual report on form 10-KSB for the year ended December 31, 2004 as filed





5





MORTGAGEBROKERS.COM HOLDINGS, INC AND SUBSIDIARIES.

[Formerly Known As Magnadata, Inc.]

(A Development Stage Enterprise)

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT

FOR THE SIX MONTHS ENDED JUNE 30, 2005







with the SEC. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of the Company as of June 30, 2005 and the related operating results and cash flows for the interim period presented have been made. The results of operations of such interim period are not necessarily indicative of the results of the full year.



Use of Estimates



Use of estimates and assumptions by management is required in the preparation of financial statements in conformity with generally accepted accounting principles. Actual results could differ from those estimates and assumptions.



Earnings Per Share



Basic earnings per share (EPS) is computed by dividing earnings available to common shareholders by the weighted-average number of common shares outstanding for the period as required by the Financial Accounting Standards Board (FASB) under Statement of Financial Accounting Standards (SFAS) No. 128, Earnings per Shares. Diluted EPS reflects the potential dilution of securities that could share in the earnings.



NOTE 2 - INCOME TAXES



There was no income tax expense for the quarter ended June 30, 2005 due to the Companys recurring net losses.



NOTE 3  STOCKHOLDERS EQUITY



On March 11, 2005 the Company declared a 15:1 forward stock split, resulting in 28,935,000 shares outstanding with a par value of $.0001.



Pursuant to a stock purchase agreement and a share exchange between the Company and Mortgagebrokers.com, Inc., the Company received all of the outstanding shares of common stock of Mortgagebrokers.com, Inc. In return of the ownership of the subsidiary the company issued 4,000,000 shares of stock to Alex Haditaghi the sole shareholder of Mortagebrokers.com, Inc. and the president of the Company.



NOTE 4  CHANGE OF CONTROL



Pursuant to the terms of a Stock Purchase Agreement, on January 31, 2005, Mortgagebrokers.com Holdings, Inc. purchased 1,510,000 shares of MagnaDatas issued and outstanding common stock from certain shareholders. The 1,510,000 shares represent a majority of the Companys outstanding common stock.





6





MORTGAGEBROKERS.COM HOLDINGS, INC AND SUBSIDIARIES.

[Formerly Known As Magnadata, Inc.]

(A Development Stage Enterprise)

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENT

FOR THE SIX MONTHS ENDED JUNE 30, 2005







Mortgagebrokers.com Holdings, Inc. paid a total of $692,813 to the shareholders for their shares. The transaction resulted in a change in control of the Company. A change of name was consequently registered in the State of Delaware and noted in the Form 3 filed with the SEC on February 7, 2005.



As part of the sale, $74,727 of debt was forgiven by a third party and $5,698 of debt and accrued interest was forgiven by a shareholder which resulted in a gain on forgiveness of debt of $80,425 during the first quarter.





7











ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

THE FOLLOWING INFORMATION SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND NOTES THERETO APPEARING ELSEWHERE IN THIS FORM 10-QSB.



CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Report contains certain financial information and statements regarding our operations and financial prospects of a forward-looking nature. Although these statements accurately reflect managements current understanding and beliefs, we caution you that certain important factors may affect our actual results and could cause such results to differ materially from any forward-looking statements which may be deemed to be made in this Prospectus. For this purpose, any statements contained in this Prospectus which are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as may, intend, expect, believe, anticipate, could, estimate, plan, or continue or the negative variations of these words or comparable
terminology are intended to identify forward-looking statements. There can be no assurance of any kind that such forward-looking information and statements in any way reflect our actual future operations and/or financial results, and any of such information and statements should not be relied upon either in whole or in part in any decision to invest in the shares. Many of the factors, which could cause actual results to differ from forward looking statements, are outside our control. These factors include, but are not limited to, the factors discussed above under Risk Factors.

Plan of Operations



This past quarter, we made significant strides in Canada by expanding our mortgage agent sales force. With this expanding sales force in place, the company has begun to generate revenues and more importantly grow our pipeline of revenue.  Furthermore, we are poised to launch our Broker Channel Acquisition Ownership Program which we believe will address long standing issues in the industry of ownership, exit strategy and retention.  We have received positive response from industry focus groups regarding our program and we are looking forward to announcing the program and its success in the coming quarters.



The Company is also on schedule to launch Version 1.0 of Eximius our proprietary technology platform in July 2005.  Management believes we are progressing towards building a functional technology platform that will support our shared services platform.



Marketing Activity:



The Company continued to reach potential business partners, customers and the media community. The company was featured in the Real Estate Magazine, Canadas premier business publication for the real estate industry.  The company is continuing to work with a media company to develop and produce infomercials to be aired in the coming quarters.



Business Development Activity:



The company strongly believes that its extensive training module that is geared towards improving sales effectiveness and helping agents reach their sales goals is beginning to show results based on productivity amongst existing mortgage agents.



The company also continues to receive numerous partnership inquires and expressions of interest from both Canada and the United States. With the imminent launch of the Broker Channel Acquisition Ownership Program, the Company is now prepared to present its value proposition to Mortgage Brokers.  The Company is continuing its discussions with a number of firms regarding the diversification of its suite of financial solutions it can offer to customers.  These are encouraging opportunities, given the company has yet to fully market its product and service value proposition to the market.










The company also continues to receive inquires and offers for equity and debt financing to support the companys future growth activities. MortgageBrokers.com is investigating these proposals and considering their strategic fit.



Human Resources Activity:



This past quarter, the company has been actively assessing qualified candidates to support the growth of the Mortgage Broker and Alternate sales channels.  The company is extremely confident that these appointments will be made within the next quarter to help the Company operationalize its business plan.



Results of Operation



The Company has begun to generate revenues from operations. For the six months ending June 30, 2005, the Company recognized revenues
of $ 32,470 and a net loss of $ 113,329 all of which was in the form of general and administration expenses, the Company recognized a
gain in the amount of $80,425 due to the extinguishment of debt.



The expenses for the three months ended June 30, 2005 were $215,934 which were all for general and administrative expenses, as
compared to $14,384 of general and administrative expenses for the three months ended June 30, 2004.



Liquidity and Capital Resources



At June 30, 2005 the Company had $59,819 in cash; $8,100 in investments; $55,780 in furniture and equipment; $40,795 in an employee
loan receivable; and a total of $172,351 in assets. The Company had $99,307 in accrued liabilities, for a total of $132,208 in
liabilities. The Company will rely upon the issuance of common stock and additional capital contributions from shareholders to fund
expenses. There are no guarantees that the Company will be successful in the industry.



Critical Accounting Policies



Our financial statements and related public financial information are based on
the application of accounting principles generally accepted in the United States
(GAAP). GAAP requires the use of estimates; assumptions, judgments
and subjective interpretations of accounting principles that have an impact on
the assets, liabilities, revenue and expense amounts reported. These estimates
can also affect supplemental information contained in our external disclosures
including information regarding contingencies, risk and financial
condition. We believe our use if estimates and underlying accounting
assumptions adhere to GAAP and are consistently and conservatively 
applied. We base our estimates on historical experience and on various other
assumptions that we believe to be reasonable under the circumstances. Actual
results may differ materially from these estimates under different assumptions
or conditions. We continue to monitor significant estimates made during the
preparation of our financial statements.




Item 3.
        Controls and Procedures


(a)
        Evaluation of disclosure controls and procedures.

Our Chief Executive Officer and Chief Financial Officer (collectively the Certifying Officers) maintain a system of disclosure controls and procedure that is designed to provide reasonable assurance that information, which is required to be disclosed, is accumulated and communicated to management timely. Under the supervision and with the participation of management, the Certifying Officers evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule [13a-14(c)/15d-14(c)]under the Exchange Act) within 90 days prior to the filing date of this report. Based upon that evaluation, the Certifying Officers concluded that our disclosure controls and procedures are effective in timely alerting them to material information relative to our company required to be disclosed in our periodic filings with the SEC.













(b)
        Changes in internal controls.

Our Certifying Officer has indicated that there were no significant changes in our internal controls or other factors that could significantly affect such controls subsequent to the date of his evaluation, and there were no such control actions with regard to significant deficiencies and material weaknesses.



PART II. OTHER INFORMATION

Item 1. Legal Proceedings



None



Item 2. Changes in Securities.



None.



Item 3. Defaults Upon Senior Securities.



None



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



None



Item 5. Other Information.



None

Item 6. Exhibits and Reports on Form 8-K

(a) Exhibits

Exhibit 31.1  Certification of the CEO and CFO Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 32.1 - Certification of the CEO and CFO Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

(b) Reports of Form 8-K



None.

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 hereunto duly authorized.




MortgageBrokers.com Holdings, Inc.August 22, 2005
        By:/s/Alex HaditaghiAlex Haditaghi, President, Secretary and Director