**UNITED
      STATES SECURITIES AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**




**TO
      FORM 10-QSB**


**(Mark
      One)**




**x**
            **Quarterly
                Report Pursuant to Section 13 or 15(d) of the Securities Exchange
                Act of
                1934.**




**For
      the quarterly period ended September 30, 2006.**


**or**




**o**
            **Transition
                Report Pursuant to Section 13 or 15(d) of the Securities Exchange
                Act of
                1934.**




**For
      the transition period from ______to______.**




**Commission
      file number 333-123351**




**WIMAX
      EU LTD.**


(Exact
      name of registrant as specified in its charter)




**Nevada**
            **98-0403551**(State
                or other jurisdiction of
            (I.R.S.
                Employer Identification No.)incorporation
                or organization)




**Old
                  Kilbarron Lodge, Coolbawn**
              **Negagh,
                Co. Tipperary Ireland**(Address
                of principal executive offices)
            (Zip
                Code)




**(353) 
      **86
      8645099****


(Registrant’s
      telephone number, including area code)




(Former
      name, former address and former fiscal year, if changed since last
      report)




Check
      whether the issuer (1) has filed
      all reports required to be filed by Section 13 or 15(d) of the Exchange Act
      during the preceding 12 months (or for such shorter period that the issuer
      was
      required to file such reports), and (2) has been subject to such filing
      requirements for the past 90 days. YesxNoo




Indicate
      by check mark whether the registrant is a shell company as defined in Rule
      12b-2
      of the Exchange Act.


YesxNoo





State
      the
      number of shares outstanding of each of the issuer's classes of common equity,
      as of September 30, 2006: 23,432,895 shares of common stock.

















**WIMAX
      EU LTD.**


**FINANCIAL
      STATEMENTS**




**INDEX**




**PART
      I-- FINANCIAL INFORMATION**


Item
                  1.
              Financial
                  StatementsItem
                  2.
              Management’s
                  Discussion and Analysis of Financial ConditionItem
                  3.
              Control
                  and Procedures
  **PART
        II-- OTHER INFORMATION**
  Item
                  1.
              Legal
                  ProceedingsItem
                  2.
              Changes
                  in SecuritiesItem
                  3.
              Defaults
                  Upon Senior SecuritiesItem
                  4.
              Submission
                  of Matters to a Vote of Security HoldersItem
                  5.
              Other
                  InformationItem
                  6.
              Exhibits
                  and Reports on Form 8-K
  **SIGNATURE**




**ITEM
      1. FINANCIAL INFORMATION**




BASIS
      OF
      PRESENTATION




The
      accompanying reviewed financial statements are presented in accordance with
      generally accepted accounting principles for interim financial information
      and
      the instructions to Form 10-QSB and item 310 under subpart A of Regulation
      S-B.
      Accordingly, they do not include all of the information and footnotes required
      by generally accepted accounting principles for complete financial statements.
      In the opinion of management, all adjustments (consisting only of normal
      occurring accruals) considered necessary in order to make the financial
      statements not misleading, have been included. Operating results for the nine
      months ended September 30, 2006 are not necessarily indicative of results that
      may be expected for the year ending December 31, 2007. The financial statements
      are presented on the accrual basis.











**WIMAX
        EU, LTD.**
 **(A
        DEVELOPMENT STAGE ENTERPRISE)**
 **CONDENSED
        FINANCIAL STATEMENTS**
 **AS
        OF SEPTEMBER 30, 2006**
 
 
 
 
 
 
 
 
 **WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 
 
 
 **CONTENTS**
 
 
 PAGE
                1
                CONDENSED
                    BALANCE SHEET AS OF SEPTEMBER 30, 2006 (UNAUDITED)PAGE
                2
                CONDENSED
                    STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED
                    SEPTEMBER 30,
                    2006 AND 2005 AND FOR THE PERIOD FROM OCTOBER 14, 1999 (INCEPTION)
                    TO
                    SEPTEMBER 30, 2005 (UNAUDITED)PAGE
                3
                CONDENSED
                    STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER
                    30, 2006 AND
                    2005 AND FOR THE PERIOD FROM OCTOBER 14, 1999 (INCEPTION) TO
                    SEPTEMBER 30, 2006 (UNAUDITED)PAGES
                4-9
                NOTES
                    TO CONDENSED FINANCIAL STATEMENTS
                    (UNAUDITED)











**WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 **CONDENSED
          BALANCE SHEET**
 **AS
          OF SEPTEMBER 30, 2006**
 (**UNAUDITED)**




**ASSETS****CURRENT
                  ASSETS**Cash
              
              $
              157**TOTAL
                  ASSETS**
              
              $
              157**LIABILITIES
                  AND STOCKHOLDERS’ DEFICIENCY****CURRENT
                  LIABILITIES**Bank overdraft
              
              $
              106Accounts
                  payable
              
              
              8,277Accrued
                  officer’s salary
              
              
              21,028Loans
                  payable – stockholders
              
              
              24,168**TOTAL
                  CURRENT LIABILITIES**
              
              
              53,579**STOCKHOLDERS’
                  DEFICIT**Common
                  stock, $.001 par value, 300,000,000 shares authorized,
                  23,432,895 shares issued and outstanding
              
              
              23,432Additional
                  paid in capital
              
              
              2,745,410Deferred
                  stock compensation
              
              
              (9,375
              )Accumulated
                  deficit during development stage
              
              
              (2,812,889
              )Total
                  Stockholders’ Deficit
              
              
              (53,422
              )**TOTAL
                  LIABILITIES AND STOCKHOLDERS’ DEFICIT**
              
              $
              157






See
        accompanying notes to condensed financial statements.








1




**WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 **CONDENSED
          STATEMENTS OF OPERATIONS**
 **(UNAUDITED)**
  For
                    the Three Months Ended September 30, 2006
                
                
                For
                    the Three Months Ended September 30, 2005
                
                
                For
                    the Nine Months Ended September 30, 2006
                
                
                For
                    the Nine Months Ended September 30, 2005
                
                
                For
                    the Period from
                  October
                    14, 1999 (Inception) to September 30, 2006**REVENUES**
                
                $
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -**OPERATING
                    EXPENSES**Payroll
                    expense
                
                
                1,151,649
                
                
                
                1,500
                
                
                
                1,154,455
                
                
                
                9,500
                
                
                
                1,163,455Professional
                    fees
                
                
                5,662
                
                
                
                13,909
                
                
                
                24,636
                
                
                
                101,080
                
                
                
                51,384Professional
                    services- related party
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                16,750Consulting
                    expense
                
                
                157,944
                
                
                
                1,546
                
                
                
                1,242,420
                
                
                
                141,875
                
                
                
                1,534,636General
                    and administrative
                
                
                6,316
                
                
                
                17,701
                
                
                
                15,275
                
                
                
                18,338
                
                
                
                46,504Total
                    Operating Expenses
                
                
                1,321,571
                
                
                
                34,656
                
                
                
                2,436,786
                
                
                
                270,793
                
                
                
                2,812,729**LOSS
                    FROM OPERATIONS**
                
                
                (1,321,571
                )
                
                
                (34,656
                )
                
                
                (2,436,786
                )
                
                
                (270,793
                )
                
                
                (2,812,729
                )**OTHER
                    EXPENSE**Interest
                    expense
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (160
                )Total
                    Other Expense**LOSS
                    BEFORE PROVISION FOR INCOME TAXES**
                
                
                (1,321,571
                )
                
                
                (34,656
                )
                
                
                (2,436,786
                )
                
                
                (270,793
                )
                
                
                (2,812,889
                )Provision
                    for Income Taxes
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -**NET
                    LOSS**
                
                $
                (1,321,571
                )
                
                $
                (34,656
                )
                
                $
                (2,436,786
                )
                
                $
                (270,793
                )
                
                $
                (2,812,889
                )Net
                    loss per share - basic and diluted
                
                $
                (0.06
                )
                
                $
                -
                
                
                $
                (0.12
                )
                
                $
                (0.02
                )
                
                $
                (0.20
                )Weighted
                    average number of shares outstanding during the period – basic and
                    diluted
                
                
                23,084,130
                
                
                
                17,701,000
                
                
                
                20,810,611
                
                
                
                17,458,206
                
                
                
                14,343,819


See
        accompanying notes to condensed financial statements.


2




**WIMAX
        EU, LTD.**
 **(A
        DEVELOPMENT STAGE ENTERPRISE)**
 **CONDENSED
        STATEMENTS OF CASH FLOWS**
 **(UNAUDITED)**
  For
                    the Nine Months Ended September 30, 2006
                
                
                For
                    the Nine Months Ended September 30, 2005
                
                
                For
                    the Period from
                  October
                    14, 1999 (Inception) to September 30, 2006**CASH
                    FLOWS FROM OPERATING ACTIVITIES:**Net
                    loss
                
                $
                (2,436,786
                )
                
                $
                (270,793
                )
                
                $
                (2,812,889
                )Adjustments
                    to reconcile net loss to net cash used in operating
                    activities:Amortization
                    of license fees
                
                
                -
                
                
                
                8,181
                
                
                
                10,000Common
                    stock issued for services
                
                
                2,309,370
                
                
                
                153,125
                
                
                
                2,487,245In-kind
                    contribution of services
                
                
                1,500
                
                
                
                4,500
                
                
                
                26,250Changes
                    in operating assets and liabilities:Other
                    receivables
                
                
                -
                
                
                
                2,141
                
                
                
                -Accounts
                    payable
                
                
                5,950
                
                
                
                (4,953
                )
                
                
                8,277Accrued
                    liabilities
                
                
                21,028
                
                
                
                -
                
                
                
                21,028Net
                    Cash Used In Operating Activities
                
                
                (98,938
                )
                
                
                (107,999
                )
                
                
                (260,089
                )**CASH
                    FLOWS FROM INVESTING ACTIVITIES**
                
                
                -
                
                
                
                -
                
                
                
                -**CASH
                    FLOWS FROM FINANCING ACTIVITIES:**Issuance
                    of common stock
                
                
                64,442
                
                
                
                140,000
                
                
                
                217,972Bank overdraft
                
                
                106
                
                
                
                -
                
                
                
                106Loan
                    payable – stockholder
                
                
                24,168
                
                
                
                -
                
                
                
                24,168Note
                    payable
                
                
                -
                
                
                
                -
                
                
                
                18,000Net
                    Cash Provided By Financing Activities
                
                
                88,716
                
                
                
                140,000
                
                
                
                260,246NET
                    INCREASE (DECREASE)  IN CASH
                
                
                (10,222
                )
                
                
                32,201
                
                
                
                157CASH
                    AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
                
                
                10,379
                
                
                
                -
                
                
                
                -CASH
                    AND CASH EQUIVALENTS AT END OF PERIOD
                
                $
                157
                
                
                $
                32,201
                
                
                $
                157**SUPPLEMENTAL
                    DISCLOSURE OF NON- CASH INVESTING AND FINANCING
                    ACTIVITIES:**Common
                    stock issued for services
                
                $
                2,309,370
                
                
                $
                153,125
                
                
                $
                2,487,245


See
        accompanying notes to condensed financial statements.






3




**WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 **NOTES
          TO CONDENSED FINANCIAL STATEMENTS**
 **AS
          OF SEPTEMBER 30, 2006**
 (UNAUDITED)




**NOTE
          A. DESCRIPTION OF ORGANIZATION**
 
 Organization
 
 Atlantic
          Capital Ventures, Inc. was formed in Nevada on October 14, 1999.  The
          Company has not commenced its planned principal operations through September
          30,
          2006.  In December 2004, the Company filed a Certificate of Amendment
          to its Articles of Incorporation to change its name to Wimax EU, Ltd.
          (“hereinafter referred to as “the Company” or “Wimax”).  The intended
          business purpose of Wimax is for providing wireless broadband internet
          service
          to commercial and residential customers primarily within countries that
          are
          members of the European Union.
 
 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
            September 30, 2006.  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.
  Basis
          of Presentation and Going Concern
 
 In
          accordance with Statement of Financial Accounting Standards (“SFAS”) No. 7, the
          Company’s policy regarding the preparation of these financial statements
          includes the presenting, in addition to its statements of operations and cash
          flows, the cumulative amounts of revenues and expenses and cash flows since
          inception through September 30, 2006.As reflected in the accompanying financial
          statements, the financial statements caution the users of the Company’s
          financial statements that these statements do not include any adjustments
          that
          might result from the outcome of this uncertainty because the Company is
          a
          development stage enterprise that has not commenced its planned principal
          operations.
  Even
          though the Company has not commenced planned principal operations or generated
          revenues from prospective customers nor has it secured the funding necessary
          to
          meet its current working capital needs, management believes that, despite
          the
          extent of the financial requirements and funding uncertainties going forward,
          it
          has a business plan under development that, if successfully funded and
          executed
          as an integral part of a financial structuring, the Company can continue
          as a
          going concern.






4


**WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 **NOTES
          TO CONDENSED FINANCIAL STATEMENTS**
 **AS
          OF SEPTEMBER 30, 2006**
 (UNAUDITED)




Management
            continues to actively seek various sources and methods of short and long-term
            financing and support; however, there can be no assurances that some
            or all of
            the necessary financing can be obtained.  Management continues to
            explore alternatives that include seeking strategic investors, lenders
            and/or
            technology partners and pursuing other transactions that, if consummated,
            might
            ultimately result in the dilution of the interest of the current
            shareholders.  Because of the nature and extent of the uncertainties,
            many of which are outside the control of the Company, there can be no
            assurances
            that the Company will be able to ultimately consummate planned principal
            operations or secure the necessary financing.
 
 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.  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 September 30, 2006 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.
 
 **NOTE
          B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**
 
 Cash
          and Cash Equivalents
 
 The
          Company considers all highly liquid debt securities purchased with original
          or
          remaining maturities of three months or less to be cash
          equivalents.  The carrying value of cash equivalents approximates fair
          value.
 
 Revenue
          Recognition
 
 The
          Company has adopted and follows the guidance provided in the Securities
          and
          Exchange Commission’s Staff Accounting Bulletin (“SAB”) No. 104, which provides
          guidance on the recognition, presentation and disclosure of revenue in
          financial
          statements.
 
 Use
          of
          Estimates
 
 The
          preparation of financial statements in conformity with generally accepted
          accounting principles requires management to make estimates and assumptions
          that
          affect the reported amounts of assets and liabilities, and disclosure of
          contingent assets and liabilities, at the date of these financial statements,
          and the reported amounts of revenues and expenses during the reporting
          period.  Actual results could differ from those
          estimates.




5


**WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 **NOTES
          TO CONDENSED FINANCIAL STATEMENTS**
 **AS
          OF SEPTEMBER 30, 2006**
 (UNAUDITED)


Income
          Taxes
 
 The
          Company uses the asset and liability method of accounting for income taxes
          as
          required by SFAS No. 109 “Accounting for Income Taxes”.  SFAS No. 109
          requires the recognition of deferred tax assets and liabilities for the
          expected
          future tax consequences of temporary differences between the carrying amounts
          and the tax basis of certain assets and liabilities.  Deferred income
          tax assets and liabilities are computed annually for the difference between
          the
          financial statement and tax bases of assets and liabilities that will result
          in
          taxable or deductible amounts in the future, based on enacted tax laws
          and rates
          applicable to the periods in which the differences are expected to affect
          taxable income.  Valuation allowances are established when necessary
          to reduce deferred tax assets to the amount expected to be
          realized.  Income tax expense is the tax payable or refundable for the
          period, plus or minus the change during the period in deferred tax assets
          and
          liabilities.
 
 Loss
          Per Share
 
 The
          Company computed basic and diluted loss per share amounts for September
          30, 2006
          and 2005 pursuant to SFAS No. 128, “Earnings Per Share”.  As of
          September 30, 2006 and 2005, common share equivalents of 14,000,000 and
          4,000,000 stock options, respectively were anti-dilutive and not used in
          the
          calculation of diluted net loss per share.
 
 Stock-Based
          Compensation
 
 In
          December 2004, the FASB issued SFAS No. 123R “Share-Based Payment”
(“SFAS 123R”), a revision to SFAS No. 123 “Accounting for Stock-Based
          Compensation” (“SFAS 123”), and superseding APB Opinion No. 25 “Accounting
          for Stock Issued to Employees” and its related implementation
          guidance.  SFAS 123R establishes standards for the accounting for
          transactions in which an entity exchanges its equity instruments for goods
          or
          services, including obtaining employee services in share-based payment
          transactions.  SFAS 123R applies to all awards granted after the
          required effective date and to awards modified, repurchased, or cancelled
          after
          that date.  Adoption of the provisions of SFAS 123R is effective as of
          the beginning of the first interim or annual reporting period that begins
          after
          June 15, 2005.
 
 Fair
          Value of Financial Instruments
 
 SFAS
          No.
          107, “Disclosures about Fair Value of Financial Instruments,” requires
          disclosures of information regarding the fair value of certain financial
          instruments for which it is practicable to estimate the
          value.






6


**WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 **NOTES
          TO CONDENSED FINANCIAL STATEMENTS**
 **AS
          OF SEPTEMBER 30, 2006**
 (UNAUDITED)


For
          purpose of this disclosure, the fair value of a financial instrument is
          the
          amount at which the instrument could be exchanged in a current transaction
          between willing parties, other than in a forced sale of
          liquidation.
 
 Recent
          Authoritative Pronouncements
 
 SFAS
          155,
“Accounting for Certain Hybrid Financial Instruments” and SFAS 156, “Accounting
          for Servicing of Financial Assets” were recently issued.  SFAS 155 and
          156 have no current applicability to the Company and have no effect on
          the
          financial statements.
 
 **NOTE
          C – RELATED PARTY TRANSACTION**
 
 From
          inception, the Company paid $376,692 to certain officers and directors
          for
          professional and consulting services performed.
 
 During
          May 2006, the Company issued 5,000,000 shares of common stock for services
          to an
          officer with a fair value of $1,000,000 (See Note D).
 
 During
          August 2006, a stockholder loaned the Company $7,474 for working
          capital.  The loan is unsecured, bears interest at a rate of 1% per
          annum and is due on demand.
 
 During
          September 2006, the Company issued 10,000,000 stock options to an officer
          with a
          fair value of $1,130,621.
 
 During
          the three months ended September 30, 2006, the Company’s Chief Executive Officer
          loaned the Company $16,694 for working capital.  The loan is
          unsecured, bears interest at a rate of 1 % per annum and is due on
          demand.
 
 **NOTE
          D – STOCKHOLDERS’ DEFICIT**
 
 During
          2005, pursuant to a two-year consulting agreement with Global Internet
          Marketing, the Company issued 1,500,000 shares of common stock valued at
          a
          recent cash offering price of $0.10 per share.  The Company recorded
          consulting expense of $56,250 and deferred consulting expense of $9,375
          for the
          nine months ended September 30, 2006.  The Company will amortize the
          agreement over the life if the contract term. At September 30, 2006, the
          balance
          of the deferred compensation is $9,375.






7


**WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 **NOTES
          TO CONDENSED FINANCIAL STATEMENTS**
 **AS
          OF SEPTEMBER 30, 2006**
 (UNAUDITED)


During
          2006, stockholders converted $18,000 of notes payable into 90,000 shares
          of
          common stock at a recent cash offering price of $0.20 per share.
 
 During
          2006, the Company issued 250,000 shares of common stock for cash of $50,000
          ($0.20 per share) to three investors.
 
 During
          2006, the Company recorded an in-kind contribution of $500 per month for
          services contributed by its Chief Executive Officer.  As of September
          30, 2006, the Company has recorded $7,500 for these services from
          inception.
 
 During
          April 2006, the Company issued 5,000,000 shares of common stock in consideration
          of the appointment of the Company’s new Chief Executive Officer, Chief Financial
          Officer and Chairman of the Board.  The shares vested upon issuance
          and were valued at $1,000,000 or $0.20 per share based on recent cash offering
          prices.  During September 2006, the Company issued 10,000,000 stock
          options to an officer with a fair value of $1,130,621.
 
 During
          May 2006, the Company amended it Articles of Incorporation to increase
          its
          authorized shares of common stock to 300,000,000 common shares.
 
 During
          May 2006, the Company issued 41,895 shares of common stock for cash of
          $14,442
          ($0.35 per share) to eleven investors.
 
 During
          September 2006, the Company issued 350,000 shares of common stock for services
          to a consultant.  The shares were valued at $122,500 or ($0.35 per
          share) based on recent cash offering prices.
 
 **NOTE
          E – LOANS PAYABLE – RELATED PARTIES**
 
 During
          August 2006, a stockholder loaned the Company $7,474 for working
          capital.  The loan is unsecured, bears interest at a rate of 1% per
          annum and is due on demand.
 
 During
          the three months ended September 30, 2006, the Company’s Chief Executive Officer
          loaned the Company $16,694 for working capital.  The loan is
          unsecured, bears interest at a rate of 1% per annum and is due on
          demand.
 
 **NOTE
          F – COMMITMENTS AND CONTINGENCIES**
 
 Royalty
          Agreement
 
 During
          2004, as amended on January 3, 2005, the Company entered into a 30-year
          royalty
          agreement with a company to license and use all URL’s owned by the
          licensor.






8


**WIMAX
          EU, LTD.**
 **(A
          DEVELOPMENT STAGE ENTERPRISE)**
 **NOTES
          TO CONDENSED FINANCIAL STATEMENTS**
 **AS
          OF SEPTEMBER 30, 2006**
 (UNAUDITED)




The
          agreement calls for the Company to pay 1.5% of the gross revenue.  In
          addition, the agreement called for the issuance of 1,000,000 shares of
          stock.  The Company recorded the fair value of $10,000 based on recent
          cash offering prices ($0.01 per share).  The agreement also required
          the Company to have an effective registration statement prior to November
          30,
          2005 or the license would become extinguished.  The Company recognized
          the value of the license over a term of eleven months.  During the
          year ended December 31, 2005, the Company’s license agreement was fully
          amortized.
 
 Employment
          Agreement
 
 During
          September 2006, the Company entered into an employment agreement with its
          Chief
          Executive Officer.  The agreement is for a term of two
          years.  The Chief Executive Officer received 10,000,000 stock options
          vesting immediately at $0.25 per share, annual salary of $94,500, Company
          vehicle, family medical benefits and reimbursement of all other expenses
          incurred in performing his duty as Chief Executive Officer. The options
          were
          valued at $1,130,621, and are included in payroll expense for the three
          months
          and nine months ended September 30, 2006.
 
 Consulting
          Agreement
 
 During
          September 2006, the Company entered into a consulting agreement.  The
          agreement requires the Company to issue 350,000 shares upon signing of
          the
          agreement and upon the Company having sales in excess of $5,000,000 or
          a share
          value in excess of $1.50 per share within twelve months, an additional
          150,000
          shares of common stock will be issued.






9




**ITEM
      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF
      OPERATION**




**General**




The
      information contained in Item 2 contains forward-looking statements within
      the
      meaning of Section 27A of the Securities Act of 1933, as amended, and Section
      21E of the Securities Exchange Act of 1934, as amended. Actual results may
      materially differ from those projected in the forward-looking statements as
      a
      result of certain risks and uncertainties set forth in this report. Although
      management believes that the assumptions made and expectations reflected in
      the
      forward-looking statements are reasonable, there is no assurance that the
      underlying assumptions will, in fact, prove to be correct or that actual results
      will not be different from expectations expressed in this report.






The
      following plan of operation provides information which management believes
      is
      relevant to an assessment and understanding of our results of operations and
      financial condition. The discussion should be read along with our financial
      statements and notes thereto. Wimax EU, Ltd is a development stage company.
      Because the Company has not generated any revenue, it intends to report its
      plan
      of operation below.




The
      following discussion and analysis contains forward-looking statements, which
      involve risks and uncertainties. The Company’s actual results may differ
      significantly from the results, expectations and plans discussed in these
      forward-looking statements.




**Plan
      of Operations**




During
      the next twelve months, we expect to take the following steps in connection
      with
      the further development of our business and the implementation of our plan
      of
      operations:




Recruit
        key personnel - We recently hired a new CEO and are now conducting a search
        for
        additional management positions to help implement our business plan. We expect
        to have selected  one additional key individual within 4-6 months. The
        anticipated cost for the recruitment of the personnel is approximately
        $2,500.




Create
        alliances - We are currently seeking to create initial alliances with strategic
        businesses in  two or three European countries as part of our overall
        plan to create alliances throughout European countries. With the establishment
        of our executive offices in Europe, we anticipate beginning the process of
        recruiting companies and people to join our team in the various countries
        in
        Europe for  further implementation of our business
        plan.




We
      intend
      to have the first two or three alliances established within 3 months and
      anticipate the cost to create the alliances to be around $5,000.




Develop
        relationships with hardware suppliers - As we are developing relationships
        and
        establishing the marketing and support side of our business, we are
        simultaneously working with manufacturers who will be providing us with the
        hardware required to implement our business plan. We are developing
        relationships with more than one supplier and will  monitor the
        industry to continually upgrade the hardware we offer in order to remain
        competitive. Establishing relationships with suppliers will be an ongoing
        process throughout the entire 12 months and we anticipate the cost to be
        around
        $2,000.




**Liquidity
      and Capital Resources**




At
          September 30, 2006, we had $157 in cash for total assets of $157. The Company
          had a bank overdraft in the amount of $106, $8,277 in accounts payable,
          $21,028
          in accrued officer salary and $24,168 in loans payable
          to  stockholders for a total of $53,579 in liabilities. The Company
          will rely upon the issuance of common stock and additional capital contributions
          from shareholders to fund expenses. We intend to raise sufficient cash
          on hand
          to maintain our current operations for the next 12 months. In order to
          achieve
          our above stated objectives we will be required to raise an additional
          $1,000,000. We expect to raise these funds from private sale of stock or
          through
          the exercise of existing options. Additionally, we will need to raise
          approximately $1,000,000 to fund our growth prior to initiating our product-roll
          out. We will require additional funds to implement our marketing phase
          and, to
          expand operations. No significant purchases of equipment are anticipated
          until
          the roll out phase which we intend to commence within three months. In
          order to
          facilitate this rollout phase we are currently exploring funding options
          to
          raise the funds necessary to finance our plans.




10




As
      reflected in the accompanying financial statements, we are in the development
      stage with limited operations. This raises substantial doubt about our ability
      to continue as a going concern. Our ability to continue as a going concern
      is
      dependent on our ability to raise additional capital and implement our business
      plan. The financial statements do not include any adjustments that might be
      necessary if we are unable to continue as a going concern.




Currently
      we have no material commitments for capital expenditures. Management believes
      that, even though our auditors have expressed doubt about our ability to
      continue as a going concern, due the commencement of our business activities
      we
      will start generating revenue which will to satisfy our cash requirements for
      at
      least the next twelve months.




**Recent
      Accounting Pronouncements**




In
      September 2006, the FASB issued SFAS No. 157, “*Fair Value
      Measurements*”. The objective of SFAS 157 is to increase consistency and
      comparability in fair value measurements and to expand disclosures about fair
      value measurements. SFAS 157 defines fair value, establishes a framework for
      measuring fair value in generally accepted accounting principles, and expands
      disclosures about fair value measurements. SFAS 157 applies under other
      accounting pronouncements that require or permit fair value measurements and
      does not require any new fair value measurements. The provisions of SFAS No.
      157
      are effective for fair value measurements made in fiscal years beginning after
      November 15, 2007. The adoption of this statement is not expected to have a
      material effect on the Company's future reported financial position or results
      of operations.





In
      February 2007, the Financial Accounting Standards Board (FASB) issued SFAS
      No.
      159, “*The Fair Value Option for Financial Assets and Financial Liabilities -
      Including an Amendment of FASB Statement No. 115*”. This statement permits
      entities to choose to measure many financial instruments and certain other
      items
      at fair value. Most of the provisions of SFAS No. 159 apply only to entities
      that elect the fair value option. However, the amendment to SFAS No. 115
“*Accounting for Certain Investments in Debt and Equity Securities*”
applies to all entities with available-for-sale and trading securities.
      SFAS No.
      159 is effective as of the beginning of an entity’s first fiscal year that
      begins after November 15, 2007. Early adoption is permitted as of the beginning
      of a fiscal year that begins on or before November 15, 2007, provided the entity
      also elects to apply the provision of SFAS No. 157, “*Fair Value
      Measurements”.* The adoption of this statement is not expected to have a
      material effect on the Company's financial statements.





**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 of 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.




Our
        significant accounting policies are summarized in Note 1 of our annual audited
        financial statements as filed on Form 10K-SB. While all these significant
        accounting policies impact our financial condition and results of operations,
        we
        view certain of these policies as critical. Policies determined to be critical
        are those policies that have the most significant impact on our financial
        statements and require management to use a greater degree of judgment and
        estimates. Actual results may differ from those estimates. Our management
        believes that given current facts and circumstances, it is unlikely that
        applying any other reasonable judgments or estimate methodologies would cause
        effect on our consolidated results of operations, financial position or
        liquidity for the periods presented in this report.




**Off
      Balance Sheet Arrangements**




We
      have
      no off-balance sheet arrangements.




11






**Item
      3.                
Controls and Procedures**




**Evaluation
      of disclosure controls and procedures**




Under
        the
        supervision and with the participation of our management, including our
        principal executive officer and principal financial officer, we conducted
        an
        evaluation of our disclosure controls and procedures, as such term is defined
        under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities
        Exchange Act of 1934, as amended (Exchange Act), as of September 25, 2007.
        Based
        on this evaluation, our principal executive officer and principal financial
        officer have concluded that our disclosure controls and procedures are effective
        to ensure that information required to be disclosed by us in the reports
        we file
        or submit under the Exchange Act is recorded, processed, summarized, and
        reported within the time periods specified in the Securities and Exchange
        Commission’s rules and forms and that our disclosure and controls are designed
        to ensure that information required to be disclosed by us in the reports
        that we
        file or submit under the Exchange Act is accumulated and communicated to
        our
        management, including our principal executive officer and principal financial
        officer, or persons performing similar functions, as appropriate to allow
        timely
        decisions regarding required disclosure.




**Changes
      in internal controls**




There
        were no changes (including corrective actions with regard to significant
        deficiencies or material weaknesses) in our internal controls over financial
        reporting that occurred during the third quarter of fiscal 2006 that have
        materially affected, or are reasonably likely to materially affect, our internal
        control over financial reporting.




**ITEM
      3. CONTROLS AND PROCEDURES**




Under
        the
        supervision and with the participation of our management, including our
        principal executive officer and principal financial officer, we conducted
        an
        evaluation of our disclosure controls and procedures, as such term is defined
        under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities
        Exchange Act of 1934, as amended (Exchange Act), as of September 25, 2007.
        Based
        on this evaluation, our principal executive officer and principal financial
        officer have concluded that our disclosure controls and procedures are effective
        to ensure that information required to be disclosed by us in the reports
        we file
        or submit under the Exchange Act is recorded, processed, summarized, and
        reported within the time periods specified in the Securities and Exchange
        Commission’s rules and forms and that our disclosure and controls are designed
        to ensure that information required to be disclosed by us in the reports
        that we
        file or submit under the Exchange Act is accumulated and communicated to
        our
        management, including our principal executive officer and principal financial
        officer, or persons performing similar functions, as appropriate to allow
        timely
        decisions regarding required disclosure.
  There
        were no changes (including corrective actions with regard to significant
        deficiencies or material weaknesses) in our internal controls over financial
        reporting that occurred during the third quarter of fiscal 2006 that have
        materially affected, or are reasonably likely to materially affect, our internal
        control over financial reporting.








12










**PART
      II - OTHER INFORMATION**




**ITEM
      1. LEGAL PROCEEDINGS.**




The
      Company is currently not a party to any pending legal proceedings and no such
      action by, or to the best of its knowledge, against the Company has been
      threatened.




**ITEM
      2. CHANGES IN SECURITIES.**




During
        2006, stockholders converted $18,000 of notes payable into 90,000 shares
        of
        common stock at a recent cash offering price of $0.20 per share.
 
 During
        2006, the Company issued 250,000 shares of common stock for cash of $50,000
        ($0.20 per share) to three investors.
 
 During
        2006, the Company recorded an in-kind contribution of $500 per month for
        services contributed by its Chief Executive Officer.  As of September 30,
        2006, the Company has recorded $7,500 for these services from
        inception.
 
 During
        April 2006, the Company issued 5,000,000 shares of common stock in consideration
        of the appointment of the Company’s new Chief Executive Officer, Chief Financial
        Officer and Chairman of the Board.  The shares vested upon issuance and
        were valued at $1,000,000 or $0.20 per share based on recent cash offering
        prices.  During September 2006, the Company issued 10,000,000 stock options
        to an officer with a fair value of $1,130,621.
 
 During
        May 2006, the Company amended it Articles of Incorporation to increase its
        authorized shares or common stock to 300,000,000 common shares.
 
 During
        May 2006, the Company issued 41,895 shares of common stock for cash of $14,442
        ($0.35 per share) to eleven investors.
 
 During
        September 2006, the Company issued 350,000 shares of common stock for services
        to a consultant valued at $122,500 or ($0.35 per share).  The shares were
        issued pursuant to an exemption from registration at Section 4(2) of the
        Securities Act of 1933.


**ITEM
      3. DEFAULTS UPON SENIOR SECURITIES.**




None




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




No
      matter
      was submitted during the quarter ending September 30, 2006, covered by this
      report to a vote of the Company’s shareholders, through the solicitation of
      proxies or otherwise.




**ITEM
      5. OTHER INFORMATION.**




None




**ITEM
      6. EXHIBITS AND REPORTS OF FORM 8-K.**




(a) Exhibits




31.1
                Certification pursuant to Section 302 of Sarbanes Oxley Act of
                2002




32.1
                Certification pursuant to Section 906 of Sarbanes Oxley Act of
                2002





(b) Reports
        of Form 8-K




None




13




**SIGNATURES**




In
      accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused
      this report to be signed on its behalf by the undersigned, there unto duly
      authorized.




**WIMAX
                EU LTD.**Registrant




Date:
                September 25, 2007
            By:
                */s/ Evert Bopp*Evert
                BoppPresident,
                Chief Executive Officer,Chairman
                of Board of Directors




14