**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**FORM      10-Q**

xQUARTERLY      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934

**333-126158**

----

| Nevada                                                                       | 52-2348956                                       |
|------------------------------------------------------------------------------|--------------------------------------------------|
| (State                or other jurisdiction of incorporation ororganization) | (IRS                Employer Identification No.) |

----

----

----

                      No       ̈

| Large                accelerated filer |  ̈ |   | Accelerated                filer         |  ̈ |
|----------------------------------------|--------|--------|------------------------------------------|--------|
| Non-accelerated                filer   |  ̈ |   | Smaller                Reporting Company | x      |

** **

----

----

**INDEX**

|                    |                                                                                                                  | **Page** |
|-------------------------|-----------------------------------------------------------------------------------------------------------------------|----------|
| PART                I.  | FINANCIAL                INFORMATION                                                                                  |     |
|                    |                                                                                                                  |     |
| Item                1.  | Financial                Statements                                                                                   | 3        |
|                    |                                                                                                                  |     |
|                    | Balance                Sheets as of March 31, 2008 and December 31, 2007                (unaudited)                   | 3        |
|                    |                                                                                                                  |     |
|                    | Statements                of Operations for the Three Months Ended March 31, 2008 and 2007                (unaudited) | 4        |
|                    |                                                                                                                  |     |
|                    | Statements                of Cash Flows for the Three Months Ended March 31, 2008 and 2007                (unaudited) | 5        |
|                    |                                                                                                                  |     |
|                    | Notes                to Unaudited Financial Statements                                                                | 6        |
|                    |                                                                                                                  |     |
| Item                2.  | Management’s                Discussion and Analysis or Plan of Operation                                        | 8        |
|                    |                                                                                                                  |     |
| Item                3.  | Quantitative                and Qualitative Disclosure about Market Risk                                              | 9        |
|                    |                                                                                                                  |     |
| Item                4.  | Controls                and Procedures                                                                                | 9        |
|                    |                                                                                                                  |     |
| PART                II. | OTHER                INFORMATION                                                                                      |     |
|                    |                                                                                                                  |     |
| Item                1.  | Legal                Proceedings                                                                                      | 9        |
|                    |                                                                                                                  |     |
| Item                2.  | Unregistered                Sales of Equity Securities and Use of Proceeds                                            | 9        |
|                    |                                                                                                                  |     |
| Item                3.  | Defaults                Upon Senior Securities                                                                        | 10       |
|                    |                                                                                                                  |     |
| Item                4.  | Submission                of Matters to a Vote of Security Holders                                                    | 10       |
|                    |                                                                                                                  |     |
| Item                5.  | Other                Information                                                                                      | 10       |
|                    |                                                                                                                  |     |
| Item                6.  | Exhibits                                                                                                              | 10       |
|                    |                                                                                                                  |     |
| Signatures              |                                                                                                                  | 10       |

----

**PART      I — FINANCIAL INFORMATION**

**Item      1. **
**Financial      Statements.**

|                                                                                                                                                         |   | March 31, 2008 |               | December 31,                2007 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|--------------------|---------------------------------------|--------|
| ASSETS                                                                                                                                                       |   |                     |               |                                  |   |  |   |
| Current                Assets                                                                                                                                |   |                     |               |                                  |   |  |   |
| Cash                                                                                                                                                         |   | $                        | -                  |                                  | $      | 4,292 |   |
| Accounts                receivable                                                                                                                           |   |                     | -                  |                                  |   | 29,802 |   |
| Inventory                                                                                                                                                    |   |                     | -                  |                                  |   | 9,785 |   |
| Prepaid                expenses                and other assets                                                                                              |   |                     | -                  |                                  |   | 37,315 |   |
| Total                Current Assets                                                                                                                          |   |                     | -                  |                                  |   | 81,194 |   |
|                                                                                                                                                         |   |                     |               |                                  |   |   |   |
| Property                and equipment, net of accumulated depreciation of $0                and $18,758, respectively                                        |   |                     | -                  |                                  |   | 9,755 |   |
| Deposit                                                                                                                                                      |   |                     | -                  |                                  |   | 6,101 |   |
| TOTAL                ASSETS                                                                                                                                  |   | $                        | -                  |                                  | $      | 97,050 |   |
|                                                                                                                                                         |   |                     |               |                                  |   |   |   |
|                                                                                                                                                         |   |                     |               |                                  |   |   |   |
| LIABILITIES                AND STOCKHOLDERS' EQUITY                                                                                                          |   |                     |               |                                  |   |   |   |
|                                                                                                                                                         |   |                     |               |                                  |   |   |   |
| Current                Liabilities                                                                                                                           |   |                     |               |                                  |   |   |   |
| Accounts                payable                                                                                                                              |   | $                        | -                  |                                  | $      | 55,041 |   |
| Accrued                liabilities                                                                                                                           |   |                     | -                  |                                  |   | 50,161 |   |
| Deferred                revenue                                                                                                                              |   |                     | -                  |                                  |   | 13,008 |   |
| Line                of credit                                                                                                                                |   |                     | -                  |                                  |   | 20,418 |   |
| Due                to shareholder                                                                                                                            |   |                     | -                  |                                  |   | 65,000 |   |
| Total                Current Liabilities                                                                                                                     |   |                     | -                  |                                  |   | 203,628 |   |
|                                                                                                                                                         |   |                     |               |                                  |   |  |   |
| Stockholders'                Equity                                                                                                                          |   |                     |               |                                  |   |  |   |
| Common                stock, $.001 par value, 50,000,000 shares authorized, 14,763,919** **shares                issued and outstanding in both periods |   |                     | 14,764             |                                  |   | 14,764 |   |
| Paid-in                capital                                                                                                                               |   |                     | 1,898,099          |                                  |   | 1,696,190 |   |
| Retained                deficit                                                                                                                              |   |                     | (1,912,863         | )                                     |   | (1,817,532 | ) |
| Total                Stockholders' Equity                                                                                                                    |   |                     | -                  |                                  |   | (106,578 | ) |
|                                                                                                                                                         |   |                     |     |                                  |   |    |   |
| TOTAL                LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                    |   | $                        | -                  |                                  | $      | 97,050 |   |

----

|                                                                                                       |   | Three Months Ended |                  |
|------------------------------------------------------------------------------------------------------------|--------|------------------------------|-----------------------|
|                                                                                                       |   | March 31,               |                  |
|                                                                                                       |   | 2008                         |                  | 2007 |   |
| Continuing                operations                                                                       |   |                         |                  |   |   |   |   |
|                                                                                                       |   |                         |                  |   |   |   |   |
| Revenue                                                                                                    |   | $                            | -                     |   | $ | 133,013 |   |
| Cost                of goods sold                                                                          |   |                         | -                     |   |   | 43,439 |   |
| Gross                profit                                                                                |   |                         | -                     |   |   | 89,574 |   |
|                                                                                                       |   |                         |                  |   |   |   |   |
| Expenses                                                                                                   |   |                         |                  |   |   |   |   |
| General                and administrative costs                                                            |   |                         | -                     |   |   | 217,557 |   |
| Depreciation                and amortization                                                               |   |                         | -                     |   |   | 2,261 |   |
| Total                operating expense                                                                     |   |                         | -                     |   |   | (219,818 | ) |
| Operating                Loss                                                                              |   |                         | -                     |   |   | (130,244 | ) |
|                                                                                                       |   |                         |                  |   |   |   |   |
| Interest                income                                                                             |   |                         | -                     |   |   | 745 |   |
| Interest                expense                                                                            |   |                         | -                     |   |   | (21 | ) |
|                                                                                                       |   |                         |                  |   |   |   |   |
| NET                LOSS FROM CONTINUING OPERATIONS                                                         |   |                         | -                     |   |   | (129,520 | ) |
|                                                                                                       |   |                         |                  |   |   |   |   |
| Discontinued                operations                                                                     |   |                         |                  |   |   |   |   |
|                                                                                                       |   |                         |                  |   |   |   |   |
| Loss                from discontinued operations                                                           |   |                         | (91,467               | ) |   | - |   |
| Loss                on disposal                                                                            |   |                         | (3,864                | ) |   | - |   |
|                                                                                                       |   |                         |                  |   |   |   |   |
| NET                LOSS                                                                                    |   | $                            | (95,331               | ) | $ | (129,520 | ) |
|                                                                                                       |   |                         |                  |   |   |   |   |
|                                                                                                       |   |                         |                  |   |   |   |   |
| Loss                per common share from continuing operations – basic and                diluted   |   |                         | (                0.00 | ) |   | (                0.01 | ) |
| Loss                per common share from discontinued operations – basic and                diluted |   |                         | (                0.01 | ) |   | (                0.00 | ) |
|                                                                                                       |   |                         |                  |   |   |   |   |
| Basic                and diluted loss per share                                                            |   | $                            | (                0.01 | ) | $ | (                0.01 | ) |
| Weighted                average shares outstanding                                                         |   |                         | 14,763,919            |   |   | 14,399,409 |   |

----

|                                                                                                  |   | 2008   |    | 2007   |   |
|-------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|
| Cash                Flows from Operating Activities                                                   |   |   |    |   |   |   |   |
| Net                loss from operations                                                               |   | $      | -       |   | $      | (129,520 | ) |
| Net                loss from discontinued operations                                                  |   |   | (91,467 | )      |   | - |   |
| Loss                on disposal                                                                       |   |   | (3,864  | )      |   | - |   |
| Adjustments                to reconcile net loss to cash used in operating                activities: |   |   |    |   |   |   |   |
| Depreciation                                                                                          |   |   | 1,578   |   |   | 2,261 |   |
| Imputed                interest on shareholder note                                                   |   |   | 1,909   |   |   | - |   |
| Changes                in working capital:                                                            |   |   |    |   |   |   |   |
| Accounts                receivable                                                                    |   |   | (5,660  | )      |   | (25,923 | ) |
| Inventory                                                                                             |   |   | (1,776  | )      |   | (346 | ) |
| Prepaid                expenses and other assets                                                      |   |   | (2,467  | )      |   | (3,475 | ) |
| Accounts                payable and accrued liabilities                                               |   |   | 6,404   |   |   | 21,741 |   |
| Deposit                                                                                               |   |   | -       |   |   | 2,466 |   |
| Net                cash used in operating activities                                                  |   |   | (95,343 | )      |   | (132,796 | ) |
|                                                                                                  |   |   |    |   |   |   |   |
| Cash                Flows from Investing Activities                                                   |   |   |    |   |   |   |   |
| Cash                distributed in spin off                                                           |   |   | (23,580 | )      |   | - |   |
| Purchase                of property and equipment                                                     |   |   | -       |   |   | (3,698 | ) |
| Net                cash used in investing activities                                                  |   |   | (23,580 | )      |   | (3,698 | ) |
|                                                                                                  |   |   |    |   |   |   |   |
| Cash                Flows from Financing Activities                                                   |   |   |    |   |   |   |   |
| Line                of credit                                                                         |   |   | (20,369 | )      |   | - |   |
| Proceeds                from advance from shareholder                                                 |   |   | 135,000 |   |   | - |   |
| Common                stock issued for cash                                                           |   |   | -       |   |   | 622,444 |   |
| Net                cash provided by financing activities                                              |   |   | 114,631 |   |   | 622,444 |   |
|                                                                                                  |   |   |    |   |   |   |   |
| Net                change in cash                                                                     |   |   | (4,292  | )      |   | 485,950 |   |
| Cash                at beginning of period                                                            |   |   | 4,292   |   |   | 7,927 |   |
| Cash                at end of period                                                                  |   | $      | -       |   | $      | 493,877 |   |
|                                                                                                  |   |   |    |   |   |   |   |
| Supplemental                Disclosures of Cash Flow Information                                      |   |   |    |   |   |   |   |
| Cash                paid for interest                                                                 |   | $      | 853     |   | $      | - |   |
| Cash                paid for income taxes                                                             |   |   | -       |   |   | - |   |

----

----

|                                                                                                                                                       |   | February 29, 2008 |       | Adjustments  |   | Adjusted February 29, 2008 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|------------|-------------------|--------|-------------------------------------------|--------|
| ASSETS                                                                                                                                                     |   |                        |       |              |   |                                      |   |   |  |   |
| Current                Assets                                                                                                                              |   |                        |       |              |   |                                      |   |   |  |   |
| Cash                                                                                                                                                       |   | $                           | 27,444     |              | $      | (27,444                                   | )      | $ | - |   |
| Accounts                receivable                                                                                                                         |   |                        | 35,462     |              |   | (35,462                                   | )      |   | - |   |
| Inventory                                                                                                                                                  |   |                        | 11,561     |              |   | (11,561                                   | )      |   | - |   |
| Prepaid                expenses and other assets                                                                                                           |   |                        | 39,782     |              |   | (39,782                                   | )      |   | - |   |
| Total                Current Assets                                                                                                                        |   |                        | 114,249    |              |   | (114,249                                  | )      |   | - |   |
|                                                                                                                                                       |   |                        |       |              |   |                                      |   |   |   |   |
| Property                and equipment, net                                                                                                                 |   |                        | 8,177      |              |   | (8,177                                    | )      |   | - |   |
| Deposit                                                                                                                                                    |   |                        | 6,101      |              |   | (6,101                                    | )      |   | - |   |
| TOTAL                ASSETS                                                                                                                                |   | $                           | 128,527    |              | $      | (128,527                                  | )      | $ | - |   |
|                                                                                                                                                       |   |                        |       |              |   |                                      |   |   |   |   |
| LIABILITIES                AND STOCKHOLDERS' EQUITY                                                                                                        |   |                        |       |              |   |                                      |   |   |   |   |
|                                                                                                                                                       |   |                        |       |              |   |                                      |   |   |   |   |
| Current                Liabilities                                                                                                                         |   |                        |       |              |   |                                      |   |   |   |   |
| Accounts                payable                                                                                                                            |   | $                           | 61,494     |              | $      | (61,494                                   | )      | $ | - |   |
| Due                to affiliate                                                                                                                            |   |                        | 200,000    |              |   | (200,000                                  | )      |   | - |   |
| Deferred                revenue                                                                                                                            |   |                        | 13,008     |              |   | (13,008                                   | )      |   | - |   |
| Accrued                liabilities                                                                                                                         |   |                        | 50,161     |              |   | (50,161                                   | )      |   | - |   |
| Total                Current Liabilities                                                                                                                   |   |                        | 324,663    |              |   | (324,663                                  | )      |   | - |   |
|                                                                                                                                                       |   |                        |       |              |   |                                      |   |   |   |   |
| Stockholders'                Equity                                                                                                                        |   |                        |       |              |   |                                      |   |   |   |   |
| Preferred                stock, $.001 par value, 10,000,000 shares authorized, none issued                and                outstanding                   |   |                        | -          |              |   | -                                         |   |   | - |   |
| Common                stock, $.001 par value, 50,000,000 shares authorized                14,763,919** **shares                issued and outstanding |   |                        | 14,764     |              |   | -                                         |   |   | 14,764 |   |
| Paid-in                capital                                                                                                                             |   |                        | 1,698,099  |              |   | 200,000                                   |   |   | 1,898,099 |   |
| Accumulated                deficit                                                                                                                         |   |                        | (1,908,999 | )                 |   | (3,864                                    | )      |   | (1,912,863 | ) |
| Total                Stockholders' Equity                                                                                                                  |   |                        | (196,136   | )                 |   | 196,136                                   |   |   | - |   |
| TOTAL                LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                  |   | $                           | 128,527    |              | $      | (128,527                                  | )      | $ | - |   |

----

**Item      2. **          **Management’s      Discussion and Analysis or Plan of Operation.**

*This      10−Q contains forward-looking statements. Our actual results could differ      materially from those set forth as a result of general economic conditions      and      changes in the assumptions used in making such forward-looking statements.      The      following discussion and analysis of our financial condition and results of      operations should be read together with the audited consolidated financial      statements and accompanying notes and the other financial information appearing      else where in this report. The analysis set forth below is provided pursuant      to      applicable Securities and Exchange Commission regulations and is not intended      to      serve as a basis for projections of future events. Refer also to "Cautionary      Note Regarding Forward Looking Statements" and “Risk Factors”below.*

The      following discussion of our financial condition and results of operations as      of      March 31, 2008 should be read in conjunction with our financial statements      and      the related notes as provided under Item 1. With respect to the discussion      within this Item 2, the terms “Sputnik,” “we,” “us,” and “our” refer to Sputnik      Enterprises, Inc.

**Cautionary      Note About Forward-Looking Statements**

|  | · | Our                projected sales and profitability, |
|--|--------|-------------------------------------------------------|

|  | · | Our                growth strategies, |
|--|--------|---------------------------------------|

|  | · | Anticipated                trends in our industry, |
|--|--------|----------------------------------------------------|

----

|  | · | Our                future financing plans, and |
|--|--------|------------------------------------------------|

|  | · | Our                anticipated needs for working                capital. |
|--|--------|--------------------------------------------------------------------------|

**Item      3. Quantitative and Qualitative Disclosure about Market      Risk**

**Item      4. **
**Controls      and Procedures.**

**Evaluation      of Disclosure Controls and Procedures**

**Changes      in Internal Control Over Financial Reporting**

There      were no changes in the Company’s internal control over financial reporting that      occurred during the most recent fiscal quarter that have materially affected,      or      are reasonably likely to materially affect, its internal control over financial      reporting for that period.

**PART      II — OTHER INFORMATION**

**Item      1. **
**Legal      Proceedings.**

**Item      2. **
**Unregistered      Sales of Equity Securities and Use of Proceeds.**

| (a) | Unregistered                Sales of Equity Securities. |
|-----|---------------------------------------------------------|

| (b) | Use                of Proceeds. |
|-----|---------------------------------|

----

**Item      3. **
**Defaults      Upon Senior Securities**

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

**Item      5. **
**Other      Information.**

**Item      6. **
**Exhibits.**

| **Exhibit** |   | **Item**                                                                                                                                                                                      |
|-------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1        |   | Certification                of Principal Executive and Principal Financial Officer pursuant to Section                302(a) of the Sarbanes-Oxley Act of 2002                               |
| 32.1*       |   | Certification                of Principal Executive and Principal Financial Officer pursuant to                Section                302(a) of the Sarbanes-Oxley Act of                2002 |

----

**SIGNATURES**

|                                   | SPUTNIK                ENTERPRISES,INC. |
|----------------------------------------|-----------------------------------------|
|                                   |                                    |
| Date: May                14, 2008 | By:                           | /s/ David                LaDuke |
|                                   |                                    |   |
|                                   |                                    |   |
|                                   |                                    | (Authorized                Officer and Principal Executive                Officer) |

----

**EXHIBIT      INDEX**

| **Exhibit** |   | **Item**                                                                                                                                                                                   |
|-------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1        |   | Certification                of Principal Executive and Principal Financial Officer pursuant to                Section                302(a) of the Sarbanes-Oxley Act of 2002             |
| 32.1*       |   | Certification                of Principal Executive and Principal Financial Officer pursuant to                Section                906 of the Sarbanes-Oxley Act of                2002 |

----

----