As filed with the Securities and Exchange Commission on June 14, 2006

UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-QSB

(Mark One)

[X]

QUARTERLY REPORT PURSUANT TO SECTION 13

OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarter ended April 30, 2006

OR

[  ]

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 333-124405

HOMASSIST CORPORATION

(Exact name of registrant as specified in its charter)



|Nevada                         |  | 98-0434357         
|------------------------------ |  | -------------------
|State or other jurisdiction of |  | (I.R.S. Employer   
|incorporation or organization  |  | Identification No.)

107-1520 McCallum Rd Suite# 29, Abbotsford, British Columbia, Canada, V2S 8B2

(Address of principal executive offices) (Zip Code)



Registrants telephone number, including area code:  (604) 592-5374



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 period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes _   No X



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



Number of shares outstanding of the registrants class of common stock as of June 12, 2006: 2,800,000



Authorized share capital of the registrant: 75,000,000 common shares, par value of $0.001



The Company recorded $nil revenue for the quarter ended April 30, 2006.













PART I - FINANCIAL INFORMATION



ITEM 1.   FINANCIAL STATEMENTS













HOMASSIST CORPORATION

(A Development Stage Company)

FINANCIAL STATEMENTS





APRIL 30, 2006













|                                  | Page       
|--------------------------------- | -----------
|                                  |            
|Financial Statements:             |            
|                                  |            
|Balance Sheets                    | F-2        
|                                  |            
|Statements of Operations          | F-3        
|                                  |            
|Statements of Cash Flows          | F-4        
|                                  |            
|Statement of Stockholders Equity | F-5        
|                                  |            
|Notes to Financial Statements     | F-6 to F-11

F-1



HOMASSIST CORPORATION

(A Development Stage Company)



BALANCE SHEETS



|                                                                                              |   | April 30, 2006 |   | January 31, 2006
|--------------------------------------------------------------------------------------------- | - | -------------- | - | ----------------
|                                                                                              |   | (Unaudited)    |   | (See Note 1)    
|                                                                                              |   |                |   |                 
|ASSETS                                                                                        |   |                |   |                 
|                                                                                              |   |                |   |                 
|Current                                                                                       |   |                |   |                 
|Cash                                                                                          | $ | 42,496         | $ | 12,332          
|Inventory                                                                                     |   | 3,110          |   | -               
|                                                                                              |   |                |   |                 
|Total Current Assets                                                                          |   | 45,606         |   | 12,332          
|                                                                                              |   |                |   |                 
|Computer Equipment, net of depreciation                                                       |   | 5,758          |   | -               
|Office Furniture, net of depreciation                                                         |   | 1,750          |   | -               
|Website Development Costs, net of amortization                                                |   | 1,278          |   | 1,945           
|                                                                                              |   |                |   |                 
|TOTAL ASSETS                                                                                  | $ | 54,392         | $ | 14,277          
|                                                                                              |   |                |   |                 
|LIABILITIES AND STOCKHOLDERS EQUITY                                                          |   |                |   |                 
|                                                                                              |   |                |   |                 
|LIABILITIES                                                                                   |   |                |   |                 
|                                                                                              |   |                |   |                 
|Current                                                                                       |   |                |   |                 
|Accounts payable                                                                              | $ | 645            | $ | 2,135           
|Accrued liabilities                                                                           |   | 4,382          |   | 3,000           
|Total Current Liabilities                                                                     |   | 5,027          |   | 5,135           
|                                                                                              |   |                |   |                 
|                                                                                              |   |                |   |                 
|STOCKHOLDERS EQUITY                                                                          |   |                |   |                 
|                                                                                              |   |                |   |                 
|Capital Stock                                                                                 |   |                |   |                 
|Authorized:                                                                                   |   |                |   |                 
|75,000,000 common shares, par value $0.001 per share                                          |   |                |   |                 
|                                                                                              |   |                |   |                 
|Issued and outstanding:                                                                       |   |                |   |                 
|2,800,000 and 2,200,000 common shares as of April 30, 2006 and January 31, 2006, respectively |   | 2,800          |   | 2,200           
|Additional paid-in capital                                                                    |   | 79,200         |   | 19,800          
|                                                                                              |   |                |   |                 
|Deficit Accumulated During the Development Stage                                              |   | (32,635)       |   | (12,858)        
|                                                                                              |   | 49,365         |   | 9,142           
|                                                                                              |   |                |   |                 
|TOTAL LIABILITIES AND STOCKHOLDERS EQUITY                                                    | $ | 54,392         | $ | 14,277          

The accompanying notes are an integral part of these statements.



F-2



HOMASSIST CORPORATION

(A Development Stage Company)



STATEMENTS OF OPERATIONS



PERIOD FROM INCEPTION, JULY 15, 2004, TO APRIL 30, 2006

(Unaudited)





|                                              |   | Three-month
period ending
April 30, 2006 |   | Three-month period ending
April 30, 2005 |   | Cumulative amounts from July 15, 2004 (Date of Inception) to April 30, 2006
|--------------------------------------------- | - | ---------------------------------------- | - | ---------------------------------------- | - | ---------------------------------------------------------------------------
|                                              |   |                                          |   |                                          |   |                                                                            
|Revenue                                       | $ | -                                        | $ | -                                        | $ | -                                                                          
|                                              |   |                                          |   |                                          |   |                                                                            
|Expenses                                      |   |                                          |   |                                          |   |                                                                            
|Amortization                                  |   | 667                                      |   | -                                        |   | 722                                                                        
|Office and administration                     |   | 1,204                                    |   | -                                        |   | 1,878                                                                      
|Organizational costs                          |   | -                                        |   | -                                        |   | 1,083                                                                      
|Professional fees                             |   | 9,206                                    |   | 4,825                                    |   | 20,206                                                                     
|Marketing                                     |   | 8,700                                    |   | -                                        |   | 8,700                                                                      
|Telecom and website hosting                   |   | -                                        |   | -                                        |   | 135                                                                        
|                                              |   | 19,777                                   |   | 4,825                                    |   | 32,724                                                                     
|                                              |   |                                          |   |                                          |   |                                                                            
|Net Loss from Operations                      |   | (19,777)                                 |   | (4,825)                                  |   | (32,724)                                                                   
|                                              |   |                                          |   |                                          |   |                                                                            
|Other Income                                  |   |                                          |   |                                          |   |                                                                            
|Interest income                               |   | -                                        |   | -                                        |   | 89                                                                         
|                                              |   |                                          |   |                                          |   |                                                                            
|Net Loss for the Period                       | $ | (19,777)                                 | $ | (4,825)                                  | $ | (32,635)                                                                   
|                                              |   |                                          |   |                                          |   |                                                                            
|                                              |   |                                          |   |                                          |   |                                                                            
|Basic and Diluted Loss Per Share              | $ | (0.01)                                   |   | Nil                                      |   | (0.02)                                                                     
|                                              |   |                                          |   |                                          |   |                                                                            
|                                              |   |                                          |   |                                          |   |                                                                            
|Weighted Average Number of Shares Outstanding |   | 2,231,011                                |   | 2,200,000                                |   | 2,150,934                                                                  

The accompanying notes are an integral part of these statements.



F-3



HOMASSIST CORPORATION

(A Development Stage Company)



STATEMENTS OF CASH FLOWS



PERIOD FROM INCEPTION, JULY 15, 2004, TO APRIL 30, 2006

(unaudited)



|                                                                           |   | Three month period ended April 30, 2006 |   | Three month period ended April 30, 2005 |   | Cumulative amounts from July 15, 2004 (Date of Inception) to April 30, 2006
|-------------------------------------------------------------------------- | - | --------------------------------------- | - | --------------------------------------- | - | ---------------------------------------------------------------------------
|                                                                           |   |                                         |   |                                         |   |                                                                            
|Cash Flows from Operating Activities                                       |   |                                         |   |                                         |   |                                                                            
|Net loss for the period                                                    | $ | (19,777)                                | $ | (4,825)                                 | $ | (32,635)                                                                   
|                                                                           |   |                                         |   |                                         |   |                                                                            
|Adjustments To Reconcile Net Loss To Net Cash Used By Operating Activities |   |                                         |   |                                         |   |                                                                            
|Amortization                                                               |   | 667                                     |   | -                                       |   | 722                                                                        
|Inventory                                                                  |   | (3,110)                                 |   | -                                       |   | (3,110)                                                                    
|Accounts payable and accrued liabilities                                   |   | (108)                                   |   | (675)                                   |   | 5,027                                                                      
|Net Cash (Used in) Operating Activities                                    |   | (22,328)                                |   | (5,500)                                 |   | (29,996)                                                                   
|                                                                           |   |                                         |   |                                         |   |                                                                            
|Cash Flows from Investing Activity                                         |   |                                         |   |                                         |   |                                                                            
|Additions to capital assets                                                |   | (7,508)                                 |   | -                                       |   | (7,508)                                                                    
|Additions to intangibles                                                   |   | -                                       |   | -                                       |   | (2,000)                                                                    
|Net Cash (Used in) Investing Activities                                    |   | (7,508)                                 |   | -                                       |   | (9,508)                                                                    
|                                                                           |   |                                         |   |                                         |   |                                                                            
|Cash Flows From Financing Activity                                         |   |                                         |   |                                         |   |                                                                            
|Issuance of common shares                                                  |   | 60,000                                  |   | -                                       |   | 82,000                                                                     
|Net Cash Provided by Financing Activities                                  |   | 60,000                                  |   | -                                       |   | 82,000                                                                     
|                                                                           |   |                                         |   |                                         |   |                                                                            
|Increase (Decrease) In Cash During The Period                              |   | 30,164                                  |   | (5,500)                                 |   | 42,496                                                                     
|                                                                           |   |                                         |   |                                         |   |                                                                            
|Cash, Beginning Of Period                                                  |   | 12,332                                  |   | 20,798                                  |   | -                                                                          
|                                                                           |   |                                         |   |                                         |   |                                                                            
|Cash, End Of Period                                                        | $ | 42,496                                  | $ | 15,298                                  | $ | 42,496                                                                     
|Supplemental Disclosure Of Cash Flow Information                           |   |                                         |   |                                         |   |                                                                            
|Cash paid for:                                                             |   |                                         |   |                                         |   |                                                                            
|Interest                                                                   | $ | -                                       | $ | -                                       | $ | -                                                                          
|Income taxes                                                               |   | -                                       |   | -                                       |   | -                                                                          

The accompanying notes are an integral part of these statements.



F-4



HOMASSIST CORPORATION

(A Development Stage Company)



STATEMENT OF STOCKHOLDERS EQUITY



APRIL 30, 2006

(unaudited)







| |                                                      |             |            | DEFICIT     |      
| | ---------------------------------------------------- | ----------- | ---------- | ----------- | -----
| | CAPITAL STOCK                                        | ACCUMULATED |           
| |                                                      |             | ADDITIONAL | DURING THE  |      
| |                                                      |             | PAID-IN    | DEVELOPMENT |      
| | SHARES                                               | AMOUNT      | CAPITAL    | STAGE       | TOTAL
| |                                                      |             |            |             |      
| | July  15, 2004  Shares issued for cash at $0.01     | 1,600,000   | $          | 1,600       | $    
| | September 13, 2004  Shares issued for cash at $0.01 | 600,000     |            | 600         |      
| |                                                      |             |            |             |      
| | Net loss for the year                                | -           |            | -           |      
| |                                                      |             |            |             |      
| | Balance, January 31, 2005                            | 2,200,000   |            | 2,200       |      
| |                                                      |             |            |             |      
| | Net loss for the year                                |             |            |             |      
| |                                                      |             |            |             |      
| | Balance, January 31, 2006                            | 2,200,000   |            | 2,200       |      
| |                                                      |             |            |             |      
| | March 16, 2006  Shares
Issued for cash at $0.10     | 600,000     |            | 600         |      
| |                                                      |             |            |             |      
| | Net loss for the period                              |             |            |             |      
| |                                                      |             |            |             |      
| | Balance, April 30, 2006                              | 2,800,000   | $          | 2,800       | $    

The accompanying notes are an integral part of these statements.



F-5



HOMASSIST CORPORATION

(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

APRIL 30, 2006







Note 1

Unaudited Statements



While the information presented in the accompanying interim financial statements is unaudited, it includes all adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented.  Except as disclosed below, these interim financial statements follow the same accounting policies and methods of their application as the Companys audited January 31, 2006 annual financial statements.  It is suggested that these interim financial statements be read in conjunction with the Company audited financial statements for the year ended January 31, 2006, included in the annual report previously filed with the Securities and Exchange Commission on Form 10-KSB.  The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year.



The information as of January 31, 2006 is taken from the audited financial statements of that date.



Note 2

Nature and Continuance of Operations



a)

Organization

The Company was incorporated in the State of Nevada, Unites States of America on July 15, 2004.  The Companys year-end is January 31st.



b)

Development Stage Activities

The Company is in the development stage and has not yet realized any revenues from its planned operations.  Homassists business plan is to teach and aid family members and friends to provide home care to the disabled or elderly.



Based upon the Company's business plan, it is a development stage enterprise.  Accordingly, the Company presents its financial statements in conformity with the accounting principles generally accepted in the United States of America that apply in establishing operating enterprises.  As a development stage enterprise, the Company discloses the deficit accumulated during the development stage and the cumulative statements of operations and cash flows from inception to the current balance sheet date.





Note 3

Significant Accounting Policies



This summary of significant accounting policies is presented to assist in understanding the Companys financial statements. The financial statements and notes are representations of the Companys management who is responsible for their integrity and objectivity.  These accounting policies conform to generally accepted accounting principles in the United States of America and have been consistently applied in the preparation of the financial statements.  The financial statements are stated in United States of America dollars.



a)

Organizational and Start-up Costs

Costs of start-up activities, including organizational costs, are expensed as incurred in accordance with SOP 98-5.

F-6





b)

Income Taxes

The Company has adopted the Statement of Financial Accounting Standards No. 109  Accounting for Income Taxes (SFAS 109).  SFAS 109 requires the use of the asset and liability method of accounting of income taxes.  Under the asset and liability method of SFAS 109, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.



c)

Basic and Diluted Loss Per Share

In accordance with SFAS No. 128  Earnings Per Share, the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding.  Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.  At April 30, 2006, the Company had no stock equivalents that were anti-dilutive and excluded in the earnings per share computation.



d)

Estimated Fair Value of Financial Instruments

The carrying value of the Companys financial instruments, consisting of accounts payable and accrued liabilities approximate their fair value due to the short-term maturity of such instruments.  Unless otherwise noted, it is managements opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial statements.



e)

Revenue Recognition

The company has had no revenues to date. It is the Companys policy that revenues will be recognized in accordance with SEC Staff Accounting Bulletin (SAB) No. 101, "Revenue Recognition in Financial Statements."  Under SAB 101, product revenues (or service revenues) are recognized when persuasive evidence of an arrangement exists, delivery has occurred (or service has been performed), the sales price is fixed and determinable and collectibility is reasonably assured.



f)

Currency

The functional currency of the Company is the United States Dollar.



g)

Use of Estimates

The preparation of the Companys financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes.  Actual results could differ from those estimates.



h)

Cash and Cash Equivalents



F-7



The Company considers all highly liquid debt instruments with an original maturity of three months or less to be cash equivalents.



i)

Furniture and equipment



Property and equipment are recorded at cost and depreciated over their estimated useful lives.  The Company uses the straight-line method of depreciation.

A summary of the estimated useful lives follows:

|Computer equipment     |  | 3 years
|---------------------- |  | -------
|Furniture and fixtures |  | 5 years



Expenditures for maintenance and repairs which do not materially extend the useful lives of property and equipment are charged to earnings.  When property or equipment is sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the respective accounts with the resulting gain or loss reflected in earnings.



j)

Website Development Costs

Website development costs representing capitalized costs of design, configuration, coding, installation and testing of the Companys website are capitalized until initial implementation.  Upon implementation, the asset will be amortized to expense over its estimated useful life of three years using the straight-line method.  Ongoing website post-implementation costs of operation, including training and application maintenance, will be charged to expense as incurred.



k)

Concentrations

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents.  At April 30, 2006, the Company had $18,811 US Funds in deposit in a business bank account which are not insured and US equivalent $23,685 in Canadian Funds in a business bank account which are insured by a Federal Government agency.



l)

Earnings (Loss) Per Share

Earnings (loss) per share of common stock is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is not shown for periods in which the Company incurs a loss because it would be anti-dilutive.



m)

Recent Accounting Pronouncements

In January 2003, the FASB issued FIN No. 46, "Consolidation of Variable Interest Entities," and a revised interpretation of FIN 46 ("FIN 46-R") in December 2003. FIN 46 requires certain variable interest entities ("VIEs") to be consolidated by the primary beneficiary of the entity if the equity investors in the entity do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to



F-8



finance its activities without additional subordinated financial support from other parties. The provisions of FIN 46 are effective immediately for all arrangements entered into after January 31, 2003. Since January 31, 2003, the Company has not invested in any entities it believes are variable interest entities for which the Company is the primary beneficiary. For all arrangements entered into after January 31, 2003, the Company was required to continue to apply FIN 46 through April 30, 2004. The Company was required to adopt the provisions of FIN 46-R for those arrangements on May 1, 2004. For arrangements entered into prior to February 1, 2003, the Company was required to adopt the provisions of FIN 46-R on May 1, 2004. The adoption of this statement did not impact the Company's financial position, results of operations, or cash flows.



In December 2004, the Financial Accounting Standards Board (FASB) issued FAS 123 (R) Shareholder Based Payments that, upon implementation, will impact the Companys net earnings and earnings per share, and change the classification of certain elements of the statement of cash flows.  FAS 123 (R) requires stock options and other share-based payments made to employees to be accounted for as compensation expense and recorded at fair value, and to reflect the related tax benefit received upon exercise of the options in the statement of cash flows as a financing activity inflow rather than an adjustment of operating activity as currently represented.  Consistent with provisions of the new standard, the Company adopted FAS 123 (R) in the first quarter of 2005, and to implement it on a prospective basis.



There were various other accounting standards and interpretations issued during 2005 and 2004, none of which are expected to have a material impact on the Companys consolidated financial position, operations or cash flows.



n)

Other

The Company consists of one reportable business segment.

The Company paid no dividends during the periods presented.





Note 4

Basis of Presentation  Going Concern



The accompanying financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America, which contemplates the continuation of the Company as a going concern. However, the Company has sustained losses and has no business operations to date.  These matters raise substantial doubt about the Company's ability to continue as going concern.   In view of these matters, realization of certain of the assets in the accompanying balance sheet is dependent upon the Company's ability to meet its financing requirements, and the success of its future operations. The Company intends to commence its operations through equity offerings received.  There is no assurance of the eventual profitability of the Company.  Management believes that actions planned and presently being taken to revise the Company's operating and financial requirements provide the opportunity for the Company to continue as a going concern.  The financial statements do not include any adjustments that might result from these uncertainties.



F-9







Note 5

Common Stock



The Companys authorized common stock consists of 75,000,000 shares with a par value of $0.001 per share.



On July 15, 2004, the Company issued 1,600,000 shares of common stock at a price of $0.01 for cash totaling $16,000.



On September 13, 2004, the Company issued 600,000 shares of common stock at a price of $0.01 for cash totaling $6,000.



On March 16, 2006, the Company issued 600,000 shares of common stock at a price of $0.10 for cash totaling $60,000.





Note 6

Income Taxes



The Company is subject to US Federal income taxes.  The Company has had no income, and therefore has paid no income tax



Deferred income taxes arise from temporary timing differences in the recognition of income and expenses for financial reporting and tax purposes. The Companys deferred tax assets consist entirely of the benefit from net operating loss (NOL) carryforwards.  The Companys deferred tax assets are offset by a valuation allowance due to the uncertainty of the realization of the net operating loss carryforwards.  Net operating loss carryforwards may be further limited by a change in company ownership and other provisions of the tax laws.



The Companys deferred tax assets, valuation allowance, and change in valuation allowance are as follows:





|Period Ending    |  | Estimated NOL Carryforward |  | NOL Expires |  | Estimated Tax Benefit from NOL |  | Valuation Allowance |  | Change in Valuation Allowance |  | Net Tax Benefit
|---------------- |  | -------------------------- |  | ----------- |  | ------------------------------ |  | ------------------- |  | ----------------------------- |  | ---------------
|January 31, 2005 |  | 2,202                      |  | 2025        |  | 330                            |  | (330)               |  | (330)                         |  |               
|January 31, 2006 |  | 12,858                     |  | 2026        |  | 1,929                          |  | (1,929)             |  | (1,599)                       |  |               
|April 30, 2006   |  | 32,635                     |  | 2027        |  | 4,895                          |  | (4,895)             |  | (2,966)                       |  |               



Income taxes at the statutory rate are reconciled to the Companys actual income taxes as follows:

|Income tax benefit at statutory rate resulting from net operating loss carryforward |  | (15%)
|----------------------------------------------------------------------------------- |  | -----
|Deferred income tax valuation allowance                                             |  | 15%  
|Actual tax rate                                                                     |  | 0%   

F-10











Note 7

Related Party Transactions



The Company uses the offices of its President for its minimal office facility needs for no consideration.  No provision for these costs has been provided since it has been determined that they are immaterial.





F-11













Item 2.   Managements Plan of Operation



Homassist Corporation was incorporated on July 15, 2004, in the State of Nevada.  The Company's principal executive offices are located at #107- 1520 McCallum Rd Unit #29, Abbotsford, British Columbia, Canada V2S 8B2.  Our telephone number is (604) 592-3574.  Our companys fiscal year end is January 31.



Homassist is a development stage company.  We have not had any revenues or operations and we have few assets.  Since incorporation, we have not made any significant purchases or sale of assets, nor have we been involved in any mergers, acquisitions or consolidations.  We have never declared bankruptcy, been in receivership, or been involved in any legal action or proceedings.



Prior to the offering, our principal activities consisted only of initial organizational activities and the issuance of common shares to our original affiliate shareholders. On February 3, 2006 our registration statement on Form SB-2 was declared effective, enabling a registered offering of a maximum of 600,000 common shares at a price of $0.10 per share. On March 16, 2006 we accepted subscriptions for 600,000 shares from 40 investors, raising a total of $60,000. At present, our common shares are approved for listing on the OTC/BB: 2,200,000 of 2,800,000 outstanding common shares are currently held by our officers and directors.



We are in the process of establishing ourselves as an educational service provider for non-professional caregivers, to aid them in the proper methods and mechanics of home care for the disabled and/or elderly.  We believe there is a market for assisted living as a viable alternative to nursing homes and hospitals, which are either facing closures and downsizing, or significantly increasing costs.We believe the need for such an alternative will help family and friends cope and provide the long term care needs for their loved ones. Our intention is that the education and tools that we provide to the caregiver will result in an enhanced quality of life for those in need of assistance.



PLAN OF OPERATION



The following discussion of the plan of operation, financial condition, results of operations, cash flows and changes in financial position of our Company should be read in conjunction with our most recent financial statements and notes appearing elsewhere in this Form 10-QSB; and our Annual Report for January 31, 2006 on Form 10KSB filed on May 15, 2005.



On March 16, 2006 we accepted subscriptions for $60,000 from the sale of 600,000 common shares to 40 investors under our Registration Statement on Form SB-2. The offering was fully subscribed. This offering placed $60,000 into our treasury, allowing us to proceed with our Plan of Operation as set out in our prospectus, and in accordance with the budget set out for our corporate operations for the subsequent twelve months.



Our future operations are also dependent upon the identification and successful completion of additional long-term or permanent equity financing, the support of creditors and shareholders, and, ultimately, the achievement of profitable operations. There can be no assurances that we will be successful, which would in turn significantly affect our ability to roll out our business plan. If not, we will likely be required to reduce operations or liquidate assets.  We will continue to evaluate our projected expenditures relative to our available cash and to seek additional means of financing in order to satisfy our working capital and other cash requirements.



We have just completed the sale of our common shares, as a result, we are only now in a position to fully implement our business plan. We intend to operate with very limited administrative support, and our current officers and directors will continue to be responsible for these duties, without compensation, for at least the first year of operations. This will enable us to preserve capital.



We are a development stage company with no operations, no revenue, no financial backing and few assets. How long we can continue to satisfy its cash requirements, and whether we will require additional funding for the next twelve months from the date hereof is dependent on how quickly our company can generate revenue to cover our ongoing expenses.





2



Homassists business is focused on the needs and desires of family members and friends to provide nurturing and safe environments for their disabled, chronically ill or elderly loved ones.  We believe we can provide a valuable service by helping and training friends and families realize their goal of providing these environments through instruction, training and aids. Our comprehensive approach to home care of the elderly or the disabled will focus on personal grooming, meeting dietary needs, communication skills, mental or physical exercise, comfort and safety aids, as well as medication and pain management.  We will also be presenting a clear message on the importance of caregivers working in conjunction with medical professionals and building good relationships with them.  Networking and developing support systems for both the caregiver and their loved one will also be covered in our overall educational plan.



During the first year of operations, we are planning to focus primarily on the urban areas of Vancouver, British Columbia and Edmonton, Alberta, Canada.  As we gain experience and revenues, we plan to develop markets in other large cities in British Columbia and Alberta, Canada.



Milestones



Our first priority has been to start construction on a website.  A web server space has been contracted from a local internet service provider.  We have expensed $2,000 to date on our website, which provides basic information and facts about the services we will be offering.  The website, www.homassist.com does give background information but is presently under construction.  In the future, it will have the facility for prospective clients to contact us with questions and inquiries.



We have begun the development of a brochure, which will serve as our primary advertising tool.  We also plan to rely on other forms of direct marketing, such as direct home mail pieces, telephone directories, and advertising in local newspapers.  We anticipate having our brochure ready by the end of the August 2006.  During this quarter, we spent $8,700 towards the design and production of these promotional materials.  Additional promotional materials will be produced and travel expenses to promote our service will be incurred on an as-needed basis beginning in November and will be ongoing throughout balance of the year.



In April 2006, demonstration aids were purchased at a cost of $3,110.  An additional amount of approximately $877 will be spent by the end of June 2006.  We plan to commence our training classes and seminars by September 2006 which will include conducting one-on-one training, seminars, and classes.



In April 2006, we purchased computer equipment for $5,758 which includes two laptop computers and software, two multi-use printers as well as two work stations.  We spent $1,750 on office furniture and an additional $505 for office supplies.



The design and building of the portable display unit will take place in October 2006.  The display unit will be used to provide a corporate presence and marketing outlet at senior centers and related organizations.    It is expected that the costs for the display will be between $8,000 and $10,000.  The company budget of $9,000 for training and consulting will be to cover the cost of consulting with industry experts for training our personnel.  It will also include the cost of technical support we may require to develop our service.  These funds will be expenses over the course of the first year of operations.



Our goal is that by September 2006 we will have sufficient support and promotional material to begin developing our customer base, using seminars targeted at senior centers, community leagues, and church groups.  The seminars and classes will be conducted at various venues including churches and community colleges.



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Expenditures



The following table indicates our use of our remaining proceeds raised from our recently closed offering over the next 9 months:



|Legal and Accounting
Demonstration Aids
Marketing and Promotion
Training and Consulting
Website Development
Miscellaneous Administration Costs
Total | 933
877
14,300
9,000
3,000
3,000
31,110
|---------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------



The above expenditure items are defined as follows:



Legal and Accounting Fees:  This expenditure item refers to the normal legal and accounting costs associated with maintaining a publicly traded company.



Demonstration Aids:  This item refers to the cost of purchasing the balance of the necessary health care products that will be used in the teaching process.



Marketing and Promotions: This item refers to the cost of marketing and promotion.  It involves the cost of providing potential customers with product information.  It will include the printing of our information brochure and the cost of seminars to assist us in creating a market for our services.  The brochures will be made available to hospital social workers and others who consult with caregivers on behalf of their patients.  In addition this will include the cost of design and construction of a portable display.  The display unit with power point presentation will be used to provide a corporate presence and marketing outlet at senior centers and related organizations.  This may also include direct marketing using direct home mail pieces and telephone directories as well as placing information pieces and advertising in local newspapers.



Training and Consulting:  This expense refers to the cost of consulting with industry experts for training our personnel.  It will also include the cost of technical support we may require to develop our product.



Website Development:  This expense is the cost associated with further development of our website. Initially the website will be used to introduce our services that will be available. Eventually, it will be developed sufficiently to respond to queries.



Miscellaneous Administrative Costs:  This expense refers to any miscellaneous costs that have not been otherwise listed - such as bank service charges, corporate insurance and sundry items.



We do not anticipate making any major purchases of capital assets in the next 9 months, or conducting any research and development. Our current corporate employee count is expected to remain the same for the next 9 months.



We believe we have sufficient cash resources to satisfy our needs over the next 9 months. Our ability to satisfy cash requirements thereafter, and the need for additional funding is dependent on our ability to generate revenue from our business in sufficient quantity and on a profitable basis. Should we require additional cash in the future, there can be no assurance that we will be successful in raising additional debt or equity financing on terms acceptable to our company, if at all.



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ITEM 3. CONTROLS AND PROCEDURES



As of the end of the period covered by this report, we conducted an evaluation, under the supervision and with the participation of our chief executive officer and chief financial officer of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the Exchange Act). Based upon this evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms.



There has been no change in our internal control over financial reporting during the current quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.





PART II  OTHER INFORMATION



ITEM 1.

LEGAL PROCEEDINGS



None.



ITEM 2.

CHANGES IN SECURITIES AND USE OF PROCEEDS



On February 3, 2006 our Registration Statement on Form SB-2, commission file number 333-124405, became effective, enabling us to offer up to 600,000 shares of common stock of our company at a price of $0.10 per share.  On March 16, 2006, we accepted subscriptions for the entire offering from 40 investors, raising a total of $60,000.  There were no underwriters for this offering.



We did not pay any underwriting discounts or commissions, finders fees, or expenses to underwriters.  We did not make any direct or indirect payments to directors, officers, general partners of the issue or their associates or to any persons owning 10% or more of any class of equity securities or to any affiliates.



As of the date of this Quarterly Report, there are 2,800,000 issued and outstanding shares of common stock of which 2,200,000 shares are held by our officers and directors.



The following table notes the use of proceeds for actual expenses incurred for our account from February 3, 2006 to April 30, 2006 in connection with the issuance and distribution of the securities:





|Expense        | Amount of direct or indirect payments to directors, officers, general partners, 10% shareholders or affiliates of the Issuer | Amount of direct or indirect payments to others
|-------------- | ---------------------------------------------------------------------------------------------------------------------------- | -----------------------------------------------
|Transfer agent | $ 0                                                                                                                          | $ 1,145                                        
|Legal          | $ 0                                                                                                                          | $ 2,140                                        
|               | $ 0                                                                                                                          | $ 5,382                                        



The above expenses were paid from existing working capital at the time of the offering; therefore they were not deducted from the proceeds of the offering.  Net proceeds to our company from the offering were $60,000.



The following table notes the use of proceeds for actual expenses incurred for our account from February 3, 2006 to April 30, 2006.



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|Expenses                      | Amount of direct or indirect payments to directors, officers, general partners, 10% shareholders or affiliates of the Issuer | Amount of direct or indirect payments to others
|----------------------------- | ---------------------------------------------------------------------------------------------------------------------------- | -----------------------------------------------
|Demonstration Aids            | $ 0                                                                                                                          | $ 3,110                                        
|Legal and Accounting          | $ 0                                                                                                                          | $ 7,067                                        
|Marketing and Promotion       | $ 0                                                                                                                          | $ 8,700                                        
|Office Equipment and Supplies | $ 0                                                                                                                          | $ 8,013                                        
|Website Development           | $ 0                                                                                                                          | $ 2,000                                        
|                              | $ 0                                                                                                                          | $ 28,890                                       





The proceeds from our offering are to be used to fund our operations as described in the SB-2 offering document incorporated for reference herein. See also Item 2 Plan of Operation.



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

(a) Pursuant to Rule 601 of Regulation SB, the following exhibits are included herein or incorporated by reference.

Exhibit

Number

Description





3.1

Articles of Incorporation*

3.2

By-laws*

31.1 CERTIFICATION OF CEO PURSUANT TO 18 U.S.C. ss. 1350, SECTION 302

31.2 CERTIFICATION  OF CFO PURSUANT TO 18 U.S.C. ss. 1350, SECTION 302

32.1 CERTIFICATION  PURSUANT  TO 18 U.S.C.  ss.1350,  SECTION 906

32.2 CERTIFICATION  PURSUANT  TO 18 U.S.C.  ss. 1350, SECTION 906



*Incorporated by reference to our SB2 Registration Statement, file number 333-124405,filed on April 28, 2005.



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SIGNATURES



Pursuant to the requirements of Section 13 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, on

this 14th  day of June, 2006.





HOMASSIST CORPORATION





Date: June 14, 2006                     By: /s/ Irene Braham

Name: Irene Braham

Title: President/CEO, principal executive officer



Date: June 14, 2006

By: /s/ Marie Legere

Name: Mare Legere

Title: Chief Financial Officer, principal financial officer and principal accounting officer



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