|  |
|--|
|  |
|  |
|  |
|  |

UNITEDSTATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C.20549

FORM 10-QSB

(MarkOne)

|        |                                                                                  |
|--------|----------------------------------------------------------------------------------|
|   | Quarterly report under Section 13 or15(d) of the Securities Exchange Act of 1934 |

For the quarterlyperiod ended September 30,2005

|        |                                                                |
|--------|----------------------------------------------------------------|
|   | Transition report under Section13 or 15(d) of the Exchange Act |

For the transition periodfrom______________ to______________

CommissionFile Number 001-32549

CourtsideAcquisition Corp.(Exact Name of SmallBusiness Issuer as Specified in ItsCharter)

|                                                              |  |                                    |            |        |  |  |
|--------------------------------------------------------------|--|------------------------------------|------------|--------|--|--|
| Delaware                                                     |  |                               | 20-2521288 |   |
| (Stateor other Jurisdiction of Incorporation orOrganization) |  | (I.R.S.Employer IdentificationNo.) |
|                                                              |

1700 Broadway,17th Floor, New York, New York10019(Address of Principal ExecutiveOffice)

(212)641-5000(Issuer’s Telephone Number, IncludingArea Code)

Check whether the issuer (1) filed allreports required to be filed by Section 13 or 15(d) of the Exchange Actduring the past 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subjectto such filing requirements for the past 90 days.     Yes No 

Indicate by check mark whether theregistrant is a shell company (as defined in Rule 12b-2 of the ExchangeAct).    Yes  No 

As of November 14,2005, 16,800,000 shares of common stock, par value $.0001 per share,were issued and outstanding.

Transitional Small BusinessDisclosure Format (check one):    Yes  No

    

|  |
|--|
|  |
|  |
|  |
|  |

----

|                                                                              |  |          |  |  |  |  |
|------------------------------------------------------------------------------|--|----------|--|--|--|--|
|                                                                         |  | **Page** |
| PartI:    FinancialInformation:                          |  |     |
| Item 1— Financial Statements(Unaudited):                               |  |     |
| Report of IndependentRegistered Public AccountingFirm                        |  | 3        |
| Balance Sheet                                                                |  | 4        |
| Statements of Operations                                                     |  | 5        |
| Statement of Stockholders’Equity                                       |  | 6        |
| Statement of CashFlows                                                       |  | 7        |
| Notes to FinancialStatements                                                 |  | 8        |
| Item 2 —Management’s Discussion and Analysis or Plan ofOperation |  | 13       |
| Item 3 — Controlsand Procedures                                        |  | 14       |
| PartII.    Other Information                             |  |     |
| Item 2— Unregistered Sales of Equity Securities and Use ofProceeds     |  | 15       |
| Item 6 —Exhibits                                                       |  | 15       |
| Signatures                                                                   |  | 16       |
|                                                                              |

2

----

REPORT OFINDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Tothe Board of DirectorsCourtside Acquisition Corp.

Wehave reviewed the accompanying condensed balance sheet of CourtsideAcquisition Corp. (a  corporation in the development stage) as ofSeptember 30, 2005, the related condensed statement of operations forthe three-month period ended September 30, 2005, and the relatedcondensed statements of operations, stockholders’ equity andcash flows for the period from March 18, 2005 (inception) to September30, 2005. These financial statements are the responsibility of thecompany's management.

We conducted our reviews inaccordance with the standards of the Public Company AccountingOversight Board (United States). A review of interim financialinformation consists principally of applying analytical procedures andmaking inquiries of persons responsible for financial and accountingmatters. It is substantially less in scope than an audit conducted inaccordance with the standards of the Public Company AccountingOversight Board, the objective of which is the expression of an opinionregarding the condensed financial statements taken as a whole.Accordingly, we do not express such an opinion.

Based onour reviews, we are not aware of any material modifications that shouldbe made to the condensed financial statements referred to above forthem to be in conformity with United States generally acceptedaccounting principles.

/s/ Goldstein Golub KesslerLLP**GOLDSTEIN GOLUB KESSLER LLP**New York, NewYork

November 10, 2005

3

----

CourtsideAcquisition Corp.(a corporation in the developmentstage)Unaudited BalanceSheet

|                                                                                                                                                                                                                                                                                           |  |                  |            |        |  |  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|------------------|------------|--------|--|--|
|                                                                                                                                                                                                                                                                                      |  | September30,2005 |
| **Assets**                                                                                                                                                                                                                                                                                |  |             |       |   |
| Currentassets:                                                                                                                                                                                                                                                                            |  |             |       |   |
| Cash and cash equivalents (Note1)                                                                                                                                                                                                                                                         |  | $                | 1,809,324  |   |
| Cash equivalents heldin Trust Fund (Note1)                                                                                                                                                                                                                                                |  |             | 74,120,872 |   |
| Prepaidexpenses                                                                                                                                                                                                                                                                           |  |             | 104,167    |   |
| Totalcurrentassets                                                                                                                                                                                                                                                                        |  | $                | 76,034,363 |   |
| **Liabilitiesand Stockholders’Equity**                                                                                                                                                                                                                                              |  |             |       |   |
| Currentliabilities:                                                                                                                                                                                                                                                                       |  |             |       |   |
| Accruedexpenses                                                                                                                                                                                                                                                                           |  | $                | 7,977      |   |
| Deferredinterest                                                                                                                                                                                                                                                                          |  |             | 71,339     |   |
| Taxes payable (Note1)                                                                                                                                                                                                                                                                     |  |             | 79,500     |   |
| Accountspayable                                                                                                                                                                                                                                                                           |  |             | 7,226      |   |
| Totalcurrentliabilities                                                                                                                                                                                                                                                                   |  |             | 166,042    |   |
| Commonstock, subject to possible conversion, 2,758,620 shares at conversionvalue (Note1)                                                                                                                                                                                                  |  |             | 14,745,424 |   |
| Commitments(Note 3)                                                                                                                                                                                                                                                                       |  |             |       |   |
| Stockholders’ equity (Notes 1, 2, 3,4 and 5) Preferred stock, $.0001 par value, Authorized 1,000,000shares; none issued Common stock, $.0001 par value Authorized50,000,000 shares Issued and outstanding 16,800,000 shares (whichincludes 2,758,620 subject to possibleconversion) |  |             | 1,680      |   |
| Additional paid-incapital                                                                                                                                                                                                                                                                 |  |             | 60,969,078 |   |
| Earningsaccumulated in the development stage                                                                                                                                                                                                                                              |  |             | 152,139    |   |
| Totalstockholders’equity                                                                                                                                                                                                                                                            |  |             | 61,122,897 |   |
| Totalliabilities and stockholders’equity                                                                                                                                                                                                                                            |  | $                | 76,034,363 |   |
|                                                                                                                                                                                                                                                                                           |

Seeaccompanying notes to unaudited financialstatements.

4

----

Courtside Acquisition Corp.(a corporation in the developmentstage)Unaudited Statements of Operations

|                                      |  |                                                         |           |                                            |  |        |            |         |  |  |
|--------------------------------------|--|---------------------------------------------------------|-----------|--------------------------------------------|--|--------|------------|---------|--|--|
|                                 |  | PeriodfromMarch 18, 2005(inception) toSeptember 30,2005 |           | Period fromJuly 1, 2005toSeptember 30,2005 |
| Revenues:                            |  |                                                    |      |                                       |  |   |       |    |
| Interestincome                       |  | $                                                       | 297,682   |                                       |  | $      | 297,682    |    |
| Expenses:                            |  |                                                    |      |                                       |  |   |       |    |
| Formationand operatingcosts          |  |                                                    | (66,043   | )                                     |  |   | (62,043    | )  |
| Stateand local capitaltaxes          |  |                                                    | (35,300   | )                                     |  |   | (35,300    | )  |
|                                 |  |                                                    | (101,343  | )                                     |  |   | (97,343    | )  |
| Incomefor theperiod                  |  |                                                    | 196,339   |                                       |  |   | 200,339    |    |
| Incometaxes (Note1)                  |  |                                                    | (44,200   | )                                     |  |   | (44,200    | )  |
| Netincome for theperiod              |  | $                                                       | 152,139   |                                       |  | $      | 156,139    |    |
| Netincome per share basic anddiluted |  | $                                                       | .02       |                                       |  | $      | .01        |    |
| Weightedaverage sharesoutstanding    |  |                                                    | 8,987,817 |                                       |  |   | 15,821,739 |    |
|                                      |

Seeaccompanying notes to unaudited financialstatements.

5

----

Courtside Acquisition Corp.(acorporation in the development stage)Unaudited Statement ofStockholders’ Equity

|                                                                                                                                                             |  |             |            |                          |  |                                             |         |        |  |        |             |         |  |        |         |         |  |        |             |         |  |  |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--|-------------|------------|--------------------------|--|---------------------------------------------|---------|--------|--|--------|-------------|---------|--|--------|---------|---------|--|--------|-------------|---------|--|--|
|                                                                                                                                                        |  | CommonStock |            | AdditionalPaid-InCapital |  | EarningsAccumulatedin thedevelopmentalstage |         | Total  |
|                                                                                                                                                        |  | Shares      |            | Amount                   |  |
| Saleof 3,000,000 shares of common stock at $.0083 per share to initialstockholders committed for on March 18,2005                                           |  |        | 3,000,000  |                     |  | $                                           | 300     |   |  | $      | 24,700      |    |  | $      | — |    |  | $      | 25,000      |    |
| Netloss for theperiod                                                                                                                                       |  |        | —    |                     |  |                                        | — |   |  |   | —     |    |  |   | (4,000  | )  |  |   | (4,000      | )  |
| Balance,June 30,2005                                                                                                                                        |  |        | 3,000,000  |                     |  | $                                           | 300     |   |  | $      | 24,700      |    |  | $      | (4,000  | )  |  | $      | 21,000      |    |
| Saleof 12,000,000 units, net of underwriters’ discount and offeringexpenses on July 7, 2005 (includes 2,398,800 shares subject to possibleconversion) |  |        | 12,000,000 |                     |  |                                        | 1,200   |   |  |   | 65,645,882  |    |  |   | — |    |  |   | 65,647,082  |    |
| Proceedssubject to possible conversion of 2,398,800shares                                                                                                   |  |        | —    |                     |  |                                        | — |   |  |   | (12,737,628 | )  |  |   | — |    |  |   | (12,737,628 | )  |
| Proceedsfrom issuance ofoption                                                                                                                              |  |        | —    |                     |  |                                        | — |   |  |   | 100         |    |  |   | — |    |  |   | 100         |    |
| Saleof 1,800,000 units, net of underwriters’ Discount on July 11,2005 (includes 359,820 shares subject to possibleconversion)                         |  |        | 1,800,000  |                     |  |                                        | 180     |   |  |   | 10,043,820  |    |  |   | — |    |  |   | 10,044,000  |    |
| Proceedssubject to possible conversion of 359,820shares                                                                                                     |  |        | —    |                     |  |                                        | — |   |  |   | (2,007,796  | )  |  |   | — |    |  |   | (2,007,796  | )  |
| Netincome for theperiod                                                                                                                                     |  |        | —    |                     |  |                                        | — |   |  |   | —     |    |  |   | 156,139 |    |  |   | 156,139     |    |
| Balance,September 30,2005                                                                                                                                   |  |        | 16,800,000 |                     |  | $                                           | 1,680   |   |  | $      | 60,969,078  |    |  | $      | 152,139 |    |  | $      | 61,122,897  |    |
|                                                                                                                                                             |

Seeaccompanying notes to unaudited financialstatements.

6

----

Courtside Acquisition Corp.(acorporation in the developmental stage)Unaudited Statement of CashFlows

|                                                    |  |                                              |             |         |  |  |
|----------------------------------------------------|--|----------------------------------------------|-------------|---------|--|--|
|                                               |  | March18, 2005(inception) toSeptember 30,2005 |
| **Cash Flows from OperatingActivities**            |  |                                         |        |    |
| Netincome                                          |  | $                                            | 152,139     |    |
| Increase in value ofTrust Fund                     |  |                                         | (356,872    | )  |
| Increase inprepaid expenses                        |  |                                         | (104,167    | )  |
| Increasein accrued expenses                        |  |                                         | 7,977       |    |
| Increase inaccounts payable                        |  |                                         | 7,226       |    |
| Increase intaxes payable                           |  |                                         | 79,500      |    |
| Increase indeferredinterest                        |  |                                         | 71,339      |    |
| Netcash used in operatingactivities                |  |                                         | (142,858    | )  |
| **CashFlows from Investing Activities**            |  |                                         |        |    |
| Cashdeposited in TrustFund                         |  |                                         | (73,764,000 | )  |
| **CashFlows from Financing Activities**            |  |                                         |        |    |
| Grossproceeds of publicoffering                    |  |                                         | 82,800,000  |    |
| Proceeds fromsale of shares of commonstock         |  |                                         | 25,000      |    |
| Proceeds from issuanceof option                    |  |                                         | 100         |    |
| Proceeds from notespayable, stockholder            |  |                                         | 100,000     |    |
| Paymentof notes payable,stockholder                |  |                                         | (100,000    | )  |
| Payment ofofferingcosts                            |  |                                         | (7,108,918  | )  |
| Netcash provided by financingactivities            |  |                                         | 75,716,182  |    |
| Netincrease in cash and cashequivalents            |  |                                         | 1,809,324   |    |
| Cash and cashequivalents at beginning of theperiod |  |                                         | —     |    |
| Cash and cashequivalents at end of theperiod       |  | $                                            | 1,809,324   |    |
|                                                    |

Seeaccompanying notes to unaudited financialstatements

7

----

CourtsideAcquisition Corp.(a corporation in the developmentstage)Notes to Unaudited FinancialStatements

|                                                                                                           |  |                                                                                                                                                                                                |
|-----------------------------------------------------------------------------------------------------------|--|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.Organization, Business     Operations, And     SubsequentEvents |  | Courtside Acquisition Corp. (the‘‘Company’’) was incorporated in Delawareon March 18, 2005 as a blank check company whose objective is toacquire an operatingbusiness. |
|                                                                                                           |  |                                                                                                                                                                                                |

|                                                                                                                          |  |                                                                                                                                                                                                                                                                                                                                                                                |
|--------------------------------------------------------------------------------------------------------------------------|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      |  | Thefinancial information in this report has not been audited, but in theopinion of management, all adjustments (consisting only of normalrecurring adjustments) considered necessary to present fairly suchinformation have been included. On July 7, 2005, the Company filed aForm 8-K which contained audited financials statements at and for theperiod ending July 7,2005. |
|                                                                                                                          |  |                                                                                                                                                                                                                                                                                                                                                                                |

|                                                                                                                          |  |                                                                                                                                                                                                                                                                                                                                                                                   |
|--------------------------------------------------------------------------------------------------------------------------|--|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      |  | Allactivity from March 18, 2005 (inception) through July 7, 2005 relatesto the Company’s formation and initial public offering describedbelow. Subsequent to July 7, 2005, the Company has been seeking abusiness combination with an operating business(‘‘Business Combination’’). The Company hasselected December 31 as its fiscalyear-end. |
|                                                                                                                          |  |                                                                                                                                                                                                                                                                                                                                                                                   |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------------------------|--|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | The registration statement forthe Company’s initial public offering(‘‘Offering’’) was declared effective June30, 2005. The Company consummated the Offering for 12,000,000 units onJuly 7, 2005 and, on July 11, 2005, the representative of theunderwriters (‘‘Representative’’) exercisedits over-allotment option for 1,800,000 units, with the Companyreceiving total net proceeds of approximately $75,691,000 (Note 2). TheCompany’s management has broad discretion with respect to thespecific application of the net proceeds of this Offering, althoughsubstantially all of the net proceeds of this Offering are intended tobe generally applied toward consummating a Business Combination.Furthermore, there is no assurance that the Company will be able tosuccessfully effect a Business Combination. An amount of $73,764,000 ofthe net proceeds is being held in an interest-bearing trust account(‘‘Trust Account’’) until the earlier of(i) the consummation of a Business Combination or (ii) liquidation ofthe Company. Under the agreement governing the Trust Account, fundswill only be invested in United States ‘‘governmentsecurities’’ within the meaning of Section 2(a)(16) ofthe Investment Company Act of 1940 with a maturity of 180 days or less,or in money market funds meeting certain conditions under Rule 2a-7promulgated under the Investment Company Act of 1940. At September 30,2005, the value of the Trust Account amounted to approximately$74,121,000. The placing of funds in the Trust Account may not protectthose funds from third party claims against the Company. Although theCompany will seek to have all vendors, prospective target businesses orother entities it engages, execute agreements with the Company waivingany right, title, interest or claim of any kind in or to any moniesheld in the Trust Account, there is no guarantee that they will executesuch agreements. Two of the Company's officers have severallyagreed that they will be personally liable to ensure that the proceedsin the Trust Account are not reduced by the claims of target businessesor vendors or other entities that are owed money by the Company forservices rendered or contracted for or products sold to the Company.However, there can be no assurance that |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

8

----

CourtsideAcquisition Corp.(a corporation in the developmentstage)Notes to Unaudited FinancialStatements

|  |  |                                                                                                                                                                                                                                                                                |
|--|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  |  | these officers will be able to satisfy thoseobligations. The remaining net proceeds (not held in the Trust Account)may be used for tax payments and business, legal and accounting duediligence on prospective acquisitions and continuing general andadministrative expenses. |
|  |  |                                                                                                                                                                                                                                                                                |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                 |
|--------------------------|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | The Company,after signing a definitive agreement for the acquisition of a targetbusiness, will submit such transaction for stockholder approval. In theevent that stockholders owning 20% or more of the shares sold inthe Offering vote against the Business Combination and exercise theirconversion rights described below, the Business Combination will not beconsummated. |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                 |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------------------------|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | All of the Company’sstockholders prior to the Offering, including all of the officers anddirectors of the Company (‘‘InitialStockholders’’), have agreed to vote their 3,000,000founding shares of common stock in accordance with the vote of themajority in interest of all other stockholders of the Company(‘‘Public Stockholders’’) with respect toany Business Combination. After consummation of a Business Combination,these voting safeguards will no longer beapplicable. |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------------------------|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | With respect to a BusinessCombination which is approved and consummated, any Public Stockholderwho voted against the Business Combination may demand that the Companyconvert his or her shares. The per share conversion price will equalthe amount in the Trust Account, calculated as of two business daysprior to the consummation of the proposed Business Combination, dividedby the number of shares of common stock held by Public Stockholders atthe consummation of the Offering. Accordingly, Public Stockholdersholding 19.99% of the aggregate number of shares owned by allPublic Stockholders may seek conversion of their shares in the event ofa Business Combination. Such Public Stockholders are entitled toreceive their per share interest in the Trust Account computed withoutregard to the shares held by Initial Stockholders. In this respect,$14,745,424 (19.99% of the original amount held in the TrustAccount) has been classified as common stock subject to possibleconversion at September 30, 2005 and $71,339 (19.99% of theinterest income held in the Trust Account) has been classified asdeferred interest at September 30,2005. |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------------------------|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | The Company’s Certificateof Incorporation, as amended, provides for mandatory liquidation of theCompany in the event that the Company does not consummate a BusinessCombination within 18 months from the date of the consummation of theOffering, or 24 months from the consummation of the Offering if certainextension criteria have been satisfied. In the event of liquidation, itis likely that the per share value of the residual assets remainingavailable for distribution (including Trust Account assets) will beless than the initial public offering price per share in the Offeringassuming no value is attributed to the Warrants contained in the Unitssold (Note 2). |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

9

----

CourtsideAcquisition Corp.(a corporation in the developmentstage)Notes to Unaudited FinancialStatements

|                          |  |                                                                                                                                                                                                                                                                         |
|--------------------------|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | Deferred incometaxes are provided for the differences between the bases of assets andliabilities for financial reporting and income tax purposes. Avaluation allowance is established when necessary to reduce deferredtax assets to the amount expected to berealized. |
|                          |  |                                                                                                                                                                                                                                                                         |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                        |
|--------------------------|--|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | The Company recorded adeferred income tax asset for the tax effect of its federal netoperating loss carryforward and temporary differences, aggregatingapproximately $46,000 through September 30, 2005. In recognition of theuncertainty regarding the ultimate amount of income tax benefits to bederived, the Company has recorded a full valuation allowance atSeptember 30, 2005. |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                        |

|                          |  |                                                                                                                                                                                                                                                                                                 |
|--------------------------|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | The effective taxrate differs from the statutory rate of 34% due to the factthat: a) most if its interest income is exempt from federal incometaxes, b) state and local income taxes are provided at a combined rateof approximately 18% and c) there is an increase in thevaluation allowance. |
|                          |  |                                                                                                                                                                                                                                                                                                 |

|                          |  |                                                                                                                                              |
|--------------------------|--|----------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | Cash equivalentsare defined as highly liquid Money market funds and U.S.Treasury Billsmaturing in three months or less from date ofpurchase. |
|                          |  |                                                                                                                                              |

|                          |  |                                                                                                                                              |
|--------------------------|--|----------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | Net income per share iscomputed by dividing net income by the weighted-average number ofshares of common stock outstanding during theperiod. |
|                          |  |                                                                                                                                              |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                            |
|--------------------------|--|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | The preparation of financialstatements in conformity with accounting principles generally acceptedin the United States of America requires management to make estimatesand assumptions that affect the reported amounts of assets andliabilities at the date of the financial statements and the reportedamounts of expenses during the reporting period. Actual results coulddiffer from those estimates. |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                            |

|                          |  |                                                                                                                                                                                            |
|--------------------------|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | Managementdoes not believe that any recently issued, but not yet effective,accounting standards if currently adopted would have a material effecton the accompanying financial statements. |
|                          |  |                                                                                                                                                                                            |

|                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------------------------|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2. InitialPublic Offering |  | On July 7, 2005, the Company sold12,000,000 units (‘‘Units’’) in theOffering. On July 11, 2005, the Company sold an additional 1,800,000Units pursuant to the Representative’s over-allotment option.Each Unit consists of one share of the Company’s common stock,$.0001 par value, and two Redeemable Common Stock Purchase Warrants(‘‘Warrants’’). Each Warrant entitles theholder to purchase from the Company one share of common stock at anexercise price of $5.00 commencing the later of the completion of aBusiness Combination or one year from the effective date of theOffering and expiring four years from the effective date of theOffering. The Warrants will be redeemable at a price of $.01 perWarrant upon 30 days’ notice after the Warrants becomeexercisable, only in the event that the last sale price of the commonstock is at least $8.50 per share for any 20 trading days within a 30trading day period |
|                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

10

----

CourtsideAcquisition Corp.(a corporation in the developmentstage)Notes to Unaudited FinancialStatements

|  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  |  | ending on the third day prior to the date onwhich notice of redemption is given. In connection with the Offering,the Company paid the underwriters an underwriting discount of 7%of the gross proceeds of the Offering and a non-accountable expenseallowance of 1% of the gross proceeds of the Offering. Inconnection with the Offering, the Company also issued an option, for$100, to the Representative to purchase 600,000 Units at an exerciseprice of $7.50 per Unit. The option may be exercised for cash or on a‘‘cashless’’ basis, at the holder'soption, such that the holder may use the appreciated value of theoption (the difference between the exercise prices of the option andthe underlying warrants and the market price of the units andunderlying securities) to exercise the option without the payment ofany cash. In addition, the warrants underlying such Units areexercisable at $6.65 per share. |
|  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

|                                                                                             |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------------------------------------------------------------------------------------------|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3. Commitmentsand     Related Party    Transactions |  | The Company presently occupiesoffice space provided by an affiliate of several of the InitialStockholders. Such affiliate has agreed that, until the Companyconsummates a Business Combination, it will make such office space, aswell as certain office and secretarial services, available to theCompany, as may be required by the Company from time to time. TheCompany has agreed to pay such affiliate $7,500 per month for suchservices commencing on the effective date of the Offering. Thestatement of operations for the period ended September 30, 2005includes $22,750 related to thisagreement. |
|                                                                                             |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                              |
|--------------------------|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | The Company engages andproposes to engage in ordinary course banking relationships oncustomary terms with Alpine Capital Bank(‘‘ACB’’). ACB is a New York Statechartered FDIC insured commercial bank. The Company's Chairman isa director and stockholder of ACB, the Company's President is astockholder of ACB and the Company's advisor is the Chairman anda stockholder of ACB. |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                              |

|                          |  |                                                                                                                                                                                                                                         |
|--------------------------|--|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | Pursuant to letteragreements dated April 15, 2005 with the Company and theRepresentative, the Initial Stockholders have waived their right toreceive distributions with respect to their founding shares upon theCompany's liquidation. |
|                          |  |                                                                                                                                                                                                                                         |

|                          |  |                                                                                                                                                                                                                                                                                                                          |
|--------------------------|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | Inaccordance with an agreement with the Representative, theCompany's Chairman, the Company's President and one of theCompany’s advisors, or persons or entities associated oraffiliated with such individuals, have purchased 2,400,000 Warrants inthe public marketplace at an average price of $0.49 perWarrant. |
|                          |  |                                                                                                                                                                                                                                                                                                                          |

|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|--------------------------|--|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | Pursuant to an agreement, theInitial Stockholders are entitled to registration rights with respectto their founding shares. The holders of the majority of these sharesare entitled to make up to two demands that the Company register theseshares at any time commencing three months prior to the thirdanniversary of the effective date of the Offering. In addition, theInitial Stockholders have certain‘‘piggy-back’’ registration rights onregistration statements filed subsequent to the third anniversary ofthe effective date of the Offering. |
|                          |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |

11

----

CourtsideAcquisition Corp.(a corporation in the developmentstage)Notes to Unaudited FinancialStatements

|                          |  |                                                                                                                                                                                                  |
|--------------------------|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|      |  | The Company issued$100,000 unsecured promissory notes to an Initial Stockholder, who isalso an officer. The notes were non interest-bearing and were repaidfrom the net proceeds of theOffering. |
|                          |  |                                                                                                                                                                                                  |

|                          |  |                                                                                                                         |
|--------------------------|--|-------------------------------------------------------------------------------------------------------------------------|
|      |  | The Company has paid the feesand issued the securities to the underwriters in the Offering asdescribed in Note 2 above. |
|                          |  |                                                                                                                         |

|                   |  |                                                                                                                                                                                                       |
|-------------------|--|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4. PreferredStock |  | The Company is authorized to issue 1,000,000 sharesof preferred stock with such designations, voting and other rights andpreferences as may be determined from time to time by the Board ofDirectors. |
|                   |  |                                                                                                                                                                                                       |

|                 |  |                                                                                                                                                                     |
|-----------------|--|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 5. Common Stock |  | At September30, 2005, 29,400,000 shares of common stock were reserved for issuanceupon exercise of redeemable warrants and underwriters’ unitpurchase option. |
|                 |  |                                                                                                                                                                     |

12

----

ITEM 2 — MANAGEMENT'SDISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Thefollowing discussion should be read in conjunction with theCompany’s Consolidated Financial Statements and footnotesthereto contained in this report.

Forward LookingStatements

The statements discussed in this Reportinclude forward looking statements that involve risks and uncertaintiesdetailed from time to time in the Company’s reports filed withthe Securities and Exchange Commission.

We were formed onMarch 18, 2005, to serve as a vehicle to effect a merger, capital stockexchange, asset acquisition or other similar business combination withan operating business. We intend to utilize cash derived from theproceeds of our recently completed public offering, our capital stock,debt or a combination of cash, capital stock and debt, in effecting abusiness combination.

For the period from March 18, 2005(inception) through September 30, 2005, we had net income of $152,139,attributable to interest income less formation and operating expensesand state and local income and capital taxes. For the three monthsended September 30, 2005 we had net income of $156,139 consisting ofinterest income less operating expenses and state and local income andcapital taxes. Our interest income of $297,682 and our deferredinterest of $71,339 for the quarter and period ended September 30, 2005were principally derived from money market funds which are exempt fromfederal income taxes. For the quarter and period ended September 30,2005, our expenses consisted of formation and operating costs andexpenses of searching for a business combination, which were $62,043and $66,043 respectively, state and local capital taxes in the quarterof $35,300, and state and local income taxes of$44,200.

We consummated our initial public offering onJuly 7, 2005. On July 11, 2005, we consummated the closing of anadditional 1,800,000 units that were subject to the over-allotmentoption. Gross proceeds from our initial public offering (including theover-allotment option) were $82,800,000. We paid a total of $6,516,000in underwriting discounts and commissions, and approximately $593,000was paid for costs and expenses related to the offering. Afterdeducting the underwriting discounts and commissions and the offeringexpenses, the total net proceeds to us from the offering wereapproximately $75,691,000, of which $73,764,000 was deposited into thetrust account (or approximately $5.35 per share sold in the offering).As of September 30, 2005, approximately $74,121,000 (or approximately$5.37 per share sold in the offering) is being held in the trustaccount. The remaining proceeds are available to be used by us toprovide for business, legal and accounting due diligence on prospectiveacquisitions, tax payments and continuing general and administrativeexpenses. We intend to use substantially all of the net proceeds ofthis offering to acquire a target business, including identifying andevaluating prospective acquisition candidates, selecting the targetbusiness, and structuring, negotiating and consummating the businesscombination. To the extent that our capital stock is used in whole orin part as consideration to effect a business combination, the proceedsheld in the trust fund as well as any other net proceeds not expendedwill be used to finance the operations of the target business. Webelieve we will have sufficient available funds outside of the trustfund to operate through July 7, 2007, assuming that a businesscombination is not consummated during that time. From July 7, 2005through July 7, 2007, we anticipate approximately $300,000 of expensesfor legal, accounting and other expenses attendant to the due diligenceinvestigations, structuring and negotiating of a business combination,$300,000 for expenses for the due diligence and investigation of atarget business, $180,000 for the administrative fee payable to AlpineCapital LLC ($7,500 per month for two years), $40,000 of expenses inlegal and accounting fees relating to our SEC reporting obligations and$1,107,000 for general working capital that will be used for taxpayments, miscellaneous expenses and reserves, including approximately$110,000 (through January 1, 2007) for director and officer liabilityinsurance premiums. We do not believe we will need to raise additionalfunds following this offering in order to meet the expendituresrequired for operating our business. However, we may need to raiseadditional funds through a private offering of debt or equitysecurities 

13

----

if such funds are required to consummate abusiness combination that is presented to us. We would only consummatesuch a financing simultaneously with the consummation of a businesscombination.

Commencing on June 30, 2005 and ending upon theacquisition of a target business, we began incurring a fee from AlpineCapital LLC, an affiliate of Richard D. Goldstein, our chairman of theboard and chief executive officer, Bruce M. Greenwald, our presidentand a member of our board of directors, Gregg H. Mayer, our vicepresident and controller, and Oded Aboodi, our special advisor, of$7,500 per month for providing us with office space and certain generaland administrative services. In addition, in April and May 2005,Richard D. Goldstein advanced an aggregate of $100,000 to us forpayment on our behalf of offering expenses. These loans were repaidfollowing our initial public offering from the proceeds of theoffering.

ITEM 3. CONTROLS AND PROCEDURES.

An evaluationof the effectiveness of our disclosure controls and procedures as ofSeptember 30, 2005 was made under the supervision and with theparticipation of our management, including our chief executive officerand our chief financial officer. Based on that evaluation, theyconcluded that our disclosure controls and procedures are effective asof the end of the period covered by this report to ensure thatinformation required to be disclosed by us in reports that we file orsubmit under the Securities Exchange Act of 1934 is recorded,processed, summarized and reported within the time periods specified inSecurities and Exchange Commission rules and forms. During the mostrecently completed fiscal quarter, there has been no significant changein our internal control over financial reporting that has materiallyaffected, or is reasonably likely to materially affect, our internalcontrol over financial reporting.

14

----

PART II.

OTHER INFORMATION

ITEM 2:    UNREGISTERED SALES OF EQUITYSECURITIES AND USE OF PROCEEDS

On July 7, 2005, we consummatedour initial public offering of 12,000,000 Units, with each unitconsisting of one share of our common stock and two warrants, each topurchase one share of our common stock at an exercise price of $5.00per share. On July 11, 2005, we closed on an additional 1,800,000 unitsthat were subject to the over-allotment option. The units were sold atan offering price of $6.00 per unit, generating total gross proceeds of$82,800,000. EarlyBirdCapital, Inc. acted as lead underwriter. Thesecurities sold in the offering were registered under the SecuritiesAct of 1933 on a registration statement on Form S-1 (No. 333-124380).The Securities and Exchange Commission declared the registrationstatement effective on June 30, 2005.

We paid a total of$6,516,000 in underwriting discounts and commissions, and approximately$593,000has been or will be paid for costs and expenses related to theoffering.

After deducting the underwriting discounts andcommissions and the offering expenses, the total net proceeds to usfrom the offering were approximately $75,691,000, of which $73,764,000was deposited into the trust account (or approximately $5.35 per sharesold in the offering) and the remaining proceeds are available to beused to provide for business, legal and accounting due diligence onprospective business combinations and continuing general andadministrative expenses.

For a description of the use of theproceeds generated in our initial public offering, see Part I, Item 2of this Form 10-QSB.

ITEM6:    EXHIBITS

|           |           |
|-----------|-----------|
| (a)  | Exhibits: |

31.1— Section 302 Certification by CEO

31.2 —Section 302 Certification by CFO

32.1 — Section906 Certification by CEO

32.2 — Section 906Certification by CFO

15

----

SIGNATURES

In accordancewith the requirements of the Exchange Act, the registrant caused thisreport to be signed on its behalf by the undersigned, thereunto dulyauthorized.

|  | **COURTSIDE ACQUISITION CORP.** |
|--|---------------------------------|

Dated: November 14, 2005

|  | /s/Richard D. GoldsteinRichard D. GoldsteinChairman of theBoard and Chief Executive Officer |
|--|---------------------------------------------------------------------------------------------|

|  | /s/ CarlD. HarnickCarl D. HarnickVice President and ChiefFinancial Officer |
|--|----------------------------------------------------------------------------|

16

----