UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 10549

                                   FORM 10-QSB

                 QUARTERLY REPORT UNDER SECTION 11 OR 15 (d) of
                              EXCHANGE ACT OF 1934
                  FOR THE QUARTER PERIOD ENDING MARCH 31, 2007

                         DIAPULSE CORPORATION OF AMERICA
             (Exact Name of registrant as specified on its charter)

         Delaware                                        13-5671991
---------------------------                     --------------------------
(State or other jurisdiction of)                         (I.R.S. Employer
incorporation of organization                            Identification Number)

475 Northern Boulevard
Great Neck, New York                                     11021
--------------------                            --------------------------
(Address of principal offices)                           (Zip Code)

Registrant's telephone number,
including area code                                      516-466-3030
                                                         ------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by section 12 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months, and (2) has been subject to such filing
requirements for the past 90 days.

                             Yes [X]     No [ ]


As of March 31, 2007 there were 3,960,730 shares of common stock outstanding.





Transitional Small Business Disclosure Format:

Yes [ ]     No [X]

<PAGE>

                         DIAPULSE CORPORATION OF AMERICA

                              INDEX TO FORM 10-QSB


PART I. FINANCIAL INFORMATION

       ITEM 1.        FINANCIAL STATEMENTS

                      BALANCE SHEETS (UNAUDITED)
                      March 31, 2007                                       3 - 4

                      STATEMENTS OF OPERATIONS (UNAUDITED)

                      Three Months ended March 31, 2007                        5

                      STATEMENTS OF CASH FLOWS (UNAUDITED)
                      Three Months ended March 31, 2007                    6 - 7

                      NOTES TO UNAUDITED FINANCIAL STATEMENTS                  8

       ITEM 2.        MANAGEMENT'S DISCUSSION AND ANALYSIS                     9

PART II.  OTHER INFORMATION

       ITEM 1.  LEGAL PROCEEDINGS                                             10

       ITEM 2.  CHANGES IN SECURITIES                                         10

       ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                               10

       ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS           10

       ITEM 5.  OTHER INFORMATION                                             10

       ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K                              10

SIGNATURES

       SIGNATURE PAGE                                                         11

       ITEM 7.  CERTIFICATIONS OF CHIEF EXECUTIVE OFFICER

<PAGE>

                         DIAPULSE CORPORATION OF AMERICA
                                 BALANCE SHEETS


<TABLE>
<CAPTION>
                                                                 March  31, 2007     Dec.31, 2006
                                                                    Unaudited           Audited
                                                                    ---------           -------
                                  Assets
  <S>                                                                   <C>         <C>
  Current Assets:
    Cash and cash equivalents                                           $112,270      $312,027
    Current portion of accounts receivable, net of
      Allowance for doubtful accounts of  $241,608 at
      March 31, 2007 and $249,990 at December 31, 2006                   126,607        76,438
    Inventories                                                          392,171       402,078
    Commission advances                                                   69,867        69,493
    Other current assets                                                  10,838        14,586
                                                                        --------      --------

        Total current assets                                             711,753       874,622
                                                                        --------      --------

   Property and equipment, net                                             5,618         6,203
                                                                        --------      --------


  Other assets:
  Accounts receivable, net of current portion                             71,580        73,514
  Commission advances to related parties                                  40,494        40,167
  Security deposits                                                        6,573        24,079
                                                                        --------      --------

            Total other assets                                           118,647       137,760
                                                                        --------      --------

            Total Assets                                                $836,018    $1,018,585
                                                                       =========     =========
</TABLE>




                        See Notes to Financial Statements



                                       3
<PAGE>

                         DIAPULSE CORPORATION OF AMERICA
                                 BALANCE SHEETS


                Liabilities and Stockholder's Equity (Deficiency)

<TABLE>
<CAPTION>
                                                                           March 31, 2007         Dec. 31, 2006
                                                                             Unaudited               Audited
                                                                             --------              --------

   <S>                                                                        <C>                  <C>
   Current Liabilities:
   Accounts payable and accrued liabilities including
   $69,007 at March 31, 2007 and $69,199 at
   December 31, 2006 to related parties                                          $167,037              $175,863
   Accrued income taxes                                                             2,555                 2,555
   Loan payable                                                                   101,750                44,797
                                                                                ---------             ---------
             Total current liabilities                                            271,342               223,215

     Long-term portion of amounts due to officer/stockholder                    3,268,269             3,467,816
                                                                                ---------             ---------

             Total Liabilities                                                  3,539,611             3,691,031
                                                                                ---------             ---------

   Stockholders' equity:
     Common stock - $.025 par value:
       Authorized 15,000,000 shares, issued 3,962,058 shares
       as at March 31, 2007 and December 31, 2006                                  99,051                99,051
     Additional paid-in capital                                                 2,293,272             2,293,272
     Accumulated deficit                                                       (5,093,588)           (5,062,441)
                                                                                ---------             ---------
                                                                               (2,701,265)           (2,670,118)
                                                                                ---------             ---------

   Less treasury stock 1,328 shares as at March 31, 2007 and December
   31, 2006 at cost                                                                (2,328)               (2,328)
                                                                                ---------             ---------


             Total stockholders' equity (Deficiency)                           (2,703,593)           (2,672,446)
                                                                                ---------             ---------

   Total liabilities and stockholders' equity (Deficiency)                       $836,018            $1,018,585
                                                                                =========             =========
</TABLE>


                        See Notes to Financial Statements


                                       4
<PAGE>

                         DIAPULSE CORPORATION OF AMERICA
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                                          THREE  MONTHS ENDED
                                                                MARCH 31
                                                                --------
                                                           2007         2006
                                                           ----         ----

Net Sales and rentals                                    $118,020    $ 332,320

Cost of sales and rentals                                  33,422       20,353
                                                        --------      --------

          Gross Margin                                     84,598      311,967

Operating Expenses:
  Selling, general and administrative                     103,843      162,563
  Interest expense (principally to related parties)        13,900       65,759
                                                        --------      --------

          Total Operating Expenses                        117,743      228,322
                                                        --------      --------

Net Operating Income (Loss)                              (33,145)       83,645
Interest and other income                                   3,003       16,652
                                                        --------      --------

Income (Loss) before Provision for Income Taxes          (30,142)      100,297
Provision for Income Taxes                                  1,005       35,800
                                                        --------      --------
          Net Income (Loss)                             $(31,147)     $ 64,497
                                                        =========     ========

           Basic Earnings (Loss) Per Share                $(0.01)       $ 0.02
                                                        =========     ========

          Weighted Average Number of Common
          Shares Outstanding                            3,960,730    3,960,730
                                                        =========     ========



                        See Notes to Financial Statements


                                       5
<PAGE>

                         DIAPULSE CORPORATION OF AMERICA
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

                                                             THREE MONTHS ENDED
                                                                  MARCH 31
                                                                  --------

                                                               2007        2006
                                                               ----        ----
Cash Flows From Operating Activities:
  Net Income (Loss)                                       $(31,147)    $ 64,497
                                                          ---------    --------

Adjustments to reconcile net income to net cash
  Provided by operating activities:
  Depreciation and amortization                                 585       2,031
  Changes in operating assets and liabilities:
  (Increase) Decrease in accounts receivable               (48,235)      10,304
  (Increase) Decrease in inventories                          9,907     (9,359)
  (Increase) in commission advances                           (701)     (6,934)
  (Increase) Decrease in other assets                        21,254       (672)
  (Decrease) in accounts payable and
    accrued liabilities                                     (8,826)    (70,149)
  Increase in income taxes                                               34,950

  (Decrease) Increase in loans payable                       56,953        (51)
                                                          ---------    --------

         Total adjustments                                   30,937    (39,880)
                                                          ---------    --------

Net cash (used) by operating activities                       (210)      24,617
                                                          ---------    --------

Financing activities:
Decrease in amounts due officer                           (199,547)    (37,408)
                                                          ---------    --------

Net cash provided by Financing activities                 (199,757)    (37,408)
                                                          ---------    --------





                        See Notes to Financial Statements



                                       6
<PAGE>

                         DIAPULSE CORPORTION OF AMERICA
                      STATEMENTS OF CASH FLOWS (CONTINUED)
                                   (UNAUDITED)

                                                 THREE MONTHS ENDED
                                                      MARCH 31
                                                      --------

                                        2007                   2006
                                        ----                   ----
Net (Decrease) in cash
      and cash equivalents           (199,757)             (12,791)
                                     ---------             --------
Cash and cash equivalents -
  Beginning of Period                 312,027               479,794
                                    ----------              -------
Cash and cash equivalents -
  End of Period                       $112,270             $467,003
                                    ==========            =========


Cash paid during the years for:
Interest                                $2,123               $6,957
Taxes                                      -                    -

                        See Notes to Financial Statements


                                       7
<PAGE>

                         DIAPULSE CORPORATION OF AMERICA
                          NOTES TO FINANCIAL STATEMENTS

1.       Basis of presentation

         The balance sheets of Diapulse Corporation of America as of March 31,
2007 and the related statements of income and cash flows for the three months
ended March 31, 2007 and March 31, 2006 have been prepared by the Company
without audit. In the opinion of management, all adjustments (which included
only normal recurring adjustments) necessary to present fairly the financial
position, results of operations and changes in cash flows for the three months
ended March 31, 2007 and March 31, 2006 and for all periods presented have been
made. Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally accepted accounting
principles have been omitted. It is suggested that these financial statements be
read in conjunction with the financial statements and notes thereto included in
the Company's December 31, 2006 annual report to shareholders. There have been
no changes of significant accounting policies since December 31, 2006. Results
of operations for the three month period ended are not necessarily indicative of
the results that may be expected for the year ending December 31, 2007.

Use of Estimate

         In preparing financial statements in conformity with generally accepted
accounting principles, management is required to make estimates and assumptions
that affect the reported amount of assets and liabilities, the disclosure of
contingent assets and liabilities at the date of the financial statements, and
the reported amount of revenues and expenses during the reporting period. Actual
results could differ from these estimates. Significant estimates are used in
accounting for accounts receivable allowance, depreciation and amortization,
inventory and income taxes.

2.  Income Taxes

         The Company accounts for income taxes under the asset and liability
method.

3.  Inventories

         Inventories as of March 31, 2007 and December 31, 2006 consisted of the
following:
                                              March 31           December. 31
                                              --------           ------------
                                                2007                 2006
                                                ----                 ----
                                             (unaudited)

Parts, components and subassemblies           $ 275,206          $ 275,040
Finished goods                                  116,965            127,038
                                                -------            -------
          Total Inventories                   $ 392,171          $ 402,078
                                               ========           ========


                                       8
<PAGE>

                        DIAPULSE CORPORATION OF AMERICA
                  ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS
         For the Three Months Ended March 31, 2007 and December 31, 2006


Results of Operations

         Net sales and rentals for the current three months decreased by
$214,300 to $118,020 from last year's comparable three month period of $332,320.
This was due primarily to a decrease in machine sales.

         Operating expenses for the current three months decreased by $58,720 to
$103,843 from last year's comparable three month period of $162,563 and this was
primarily due to reduction in sales commissions and salaries expenses.

Liquidity and Capital Resources

         As of March 31, 2007 the Company had working capital of $440,411 and a
current ratio of 2.62 to 1. This represents a decrease in working capital since
December 31, 2006 of $210,996.

         The Company intends to fund its future operations, pursue research and
development of current and future products and expand operations through machine
rental and sales.

Impact of Inflation

         Although the Company has not attempted to calculate the effect of
inflation, management does not believe inflation has had a material effect on
its results of operations. Material increases in costs and expenses in the
future could have a significant impact on the Company's operating results to the
extent that the effect of such increases cannot be transferred to its customers.

Forward-Looking Information

         The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for certain forward-looking statements made by the Company in its
disclosures to the public. There is certain information contained herein in the
Company's press releases and in oral statements made by authorized officers of
the Company which are forward-looking statements, as defined by such Act. When
used herein, in the Company's press releases and in such oral statements, the
words "estimate", "project", "anticipate", "expect", "intend", "believe",
"plans", and similar expressions are intended to identify forward-looking
statements. Because such forward-looking statements involve risks and
uncertainties, there are important factors that could cause actual results to
differ materially from those expressed or implied by such forward-looking
statements


                                       9
<PAGE>

                         DIAPULSE CORPORATION OF AMERICA
                           PART II - OTHER INFORMATION
          For the Three months Ended March 31, 2007 and March 31, 2006

Item 1.  Legal Proceedings

The Company was involved as plaintiff in litigation filed on August 1994,
alleging deceptive acts and practices, false advertising, unfair competition,
breach of fiduciary duty under New York and under Federal Law. The complaint
demands damages in an unspecified amount for compensatory, punitive and treble
damages, profits and attorneys' fees against corporate and individual
defendants. In early 2000, a settlement agreement was reached whereby all claims
against the company were dismissed with prejudice and one of the Corporate
defendants agreed to pay the Company the sum of $50,000 with interest at the
rate of 9% per year, in level monthly installment payments of $1,786.41. The
agreement further provided that in the event of failure to make the installment
payments when due, the entire balance would immediately become due and payable
and the Company would be entitled to enter judgment for the balance. The
agreement also provides for the defendants to refrain from engaging in certain
marketing practices in the future. The defendants failed to make any payments
after the payment due on January 1, 2001 and in late 2001 a judgment for
$39,215.61 was entered against the corporate defendant who had agreed to the
monetary settlement. The Company is currently attempting to enforce the judgment
but is not aware of any assets owned by the judgment debtor.

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

         Not applicable.

Item 6.  Exhibits and Reports on Form 8-K

         (a) Exhibits Filed:  None

         (b) Reports on Form 8-K: None.


                                       10
<PAGE>


                                   SIGNATURES

Pursuant to the requirements of Section 11 or 15 (d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.



                         DIAPULSE CORPORATION OF AMERICA

                                    Registrant



                       By /s/ David M. Ross
                          --------------------
                              David M. Ross, President

                       Date:    May 11, 2007





                                       11