UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                ---------------

                                   Form 10-Q

[X]       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

         For the quarterly period ended September 30, 2008

          OR

[ ]       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT

                 For the transition period from             to
                                                -----------    ----------

                        Commission File Number: 0-16335


                          Ridgefield Acquisition Corp.
       -----------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


             Nevada                                       84-0922701
-------------------------------                     ----------------------
(State or other jurisdiction of                       (I.R.S. Employer
incorporation or organization)                       Identification No.)


                100 Mill Plain Road, Danbury, Connecticut 06811
           ---------------------------------------------------------
                    (Address of principal executive offices)


                                 (203) 791-3871
          ---------------------------------------------------------
              (Registrant's telephone number, including area code)

     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [ ]

     Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, or a smaller reporting company.
See the definitions of "large accelerated filer," "accelerated filer" and
"smaller reporting company" in Rule 12b-2 of the Exchange Act.

     Large accelerated filer [ ]                Accelerated filer         [ ]

     Non-accelerated filer   [ ]                Smaller reporting company [X]


Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act).
                                          Yes [X] No [ ]

    Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

    As of November 7, 2008, the issuer had 1,170,773 outstanding shares of
common stock.
<PAGE>

                          RIDGEFIELD ACQUISITION CORP.
                         (A Development Stage Company)
                                   FORM 10-Q



                                                                       Page

PART I - FINANCIAL INFORMATION                                            3

Item 1.  Financial Statements                                             3

         Consolidated Balance Sheets as of September 30, 2008
             (unaudited) and December 31, 2007                            3

         Consolidated Statements of Operations and
             Comprehensive Income (Loss) for the Three and Nine Months
             Ended September 30, 2008 and 2007 and Cumulative Amounts
             From January 1, 2000 through September 30, 2008 (unaudited)  4

         Consolidated Statements of Cash Flows for the Nine Months
             Ended September 30, 2008 and 2007 and Cumulative Amounts
             from January 1, 2000 through September 30, 2008 (unaudited)  5

         Notes to Interim Consolidated Financial Statements               6


Item 2.  Management's Discussion and Analysis of
         Financial Condition and Results of Operations                   10

Item 3.  Quantitative and Qualitative Disclosure about Market Risk       13

Item 4T. Controls and Procedures                                         14

PART II - OTHER INFORMATION                                              14

Item 1.  Legal Proceedings                                               14

Item 5.  Other Information                                               14

Item 6.  Exhibits                                                        15

SIGNATURES                                                               15

                                       2
<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.


                  RIDGEFIELD ACQUISITION CORP. AND SUBSIDIARY
                         (A Development Stage Company)
                          CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
                                                                Sept. 30, 2008  Dec. 31, 2007

                                                                  (Unaudited)
<S>                                                               <C>            <C>
                                       ASSETS

CURRENT ASSETS
   Cash and cash equivalents                                      $   145,261    $   186,287

   Investments                                                        890,100    $   767,625
                                                                  -----------    -----------

TOTAL ASSETS                                                      $ 1,035,361    $   953,912
                                                                  ===========    ===========


                          LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
  Accounts payable and accrued expenses                           $     3,385    $     9,861
                                                                  -----------    -----------
TOTAL CURRENT LIABILITIES                                               3,385          9,861
                                                                  -----------    -----------

COMMITMENTS AND CONTINGENCIES                                              --             --

STOCKHOLDERS' EQUITY
   Preferred stock, $.01 par value; authorized - 5,000,000 shares
           Issued - none                                                   --             --
   Common stock, $.001 par value; authorized - 30,000,000 shares
          Issued and outstanding - 1,164,773 on September 30, 2008
          and 1,140,773 shares on December 31, 2007                     1,165          1,141
   Capital in excess of par value                                   2,128,979      2,093,003
   Accumulated deficit                                              (947,820)       (947,820)
   Deficit accumulated during the development stage                  (729,366)      (658,816)
   Accumulated other comprehensive gain                                579,018       456,543
                                                                  -----------    -----------

TOTAL STOCKHOLDERS' EQUITY                                          1,031,976        944,051
                                                                  -----------    -----------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                         $ 1,035,361     $   953,912
                                                                 ===========     ===========
</TABLE>
          See accompanying notes to consolidated financial statements.

                                       3
<PAGE>

                  RIDGEFIELD ACQUISITION CORP. AND SUBSIDIARY
                         (A Development Stage Company)
     CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
                                  (UNAUDITED)
<TABLE>
<CAPTION>
                                     Three Months Ended     Nine Months Ended    Cumulative Amounts
                                         September 30,         September 30,    from January 1, 2000
                                       2008        2007       2008       2007  through Sept. 30, 2008
<S>                                 <C>         <C>        <C>         <C>            <C>
REVENUES
    Interest income                 $     594   $   1,185  $   2,215   $   5,140       $  51,449
    Realized gain on investments           --          --         --      99,985         133,258
                                    ---------   ---------  ---------   ---------       ---------
TOTAL REVENUES                            594       1,185      2,215     105,125         184,707
                                    ---------   ---------  ---------   ---------       ---------
OPERATING EXPENSES
    General and administrative         47,901       8,965     72,765      32,402         764,724
    Employee stock options                 --          --         --          --         130,625
    Write off of patent                    --          --         --          --          18,724
                                    ---------   ---------  ---------   ---------       ---------
TOTAL EXPENSES                         47,901       8,965     72,765      31,402         914,073
                                    ---------   ---------  ---------   ---------       ---------

NET INCOME (LOSS)                     (47,307)     (7,780)   (70,550)     72,723        (729,366)

OTHER COMPREHENSIVE INCOME/(LOSS)
    Unrealized gain/(loss)
      on securities                   122,475     143,750    122,475     363,902         678,681
    Reclassification adjustment
       for realized (gain)/loss       (28,175)         --         --     (99,984)        (99,663)
                                    ---------   ---------  ---------   ---------       ---------
OTHER COMPREHENSIVE INCOME (LOSS)      94,300     143,750    122,475     263,918         579,018
                                    ---------   ---------  ---------   ---------       ---------

COMPREHENSIVE INCOME (LOSS)         $  46,993    $135,970  $  51,925    $336,641        (150,348)
                                    =========   =========  =========   =========       =========

NET INCOME (LOSS) PER COMMON SHARE
    Basic and Dilutive              $   (0.04)  $   (0.01) $   (0.06)  $    0.06       $   (0.80)
                                    =========   =========  =========   =========       =========


WEIGHTED AVERAGE NUMBER OF COMMON
    SHARES OUTSTANDING
    Basic and Dilutive              1,158,708   1,140,773  1,147,297   1,140,773         909,643
                                    =========   =========  =========   =========       =========
</TABLE>
          See accompanying notes to consolidated financial statements

                                       4
<PAGE>

                  RIDGEFIELD ACQUISITION CORP. AND SUBSIDIARY
                         (A Development Stage Company)
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                       Cumulative
                                                               Nine Months Ended      Amounts from
                                                                  September 30,      January 1, 2000
                                                                                    through Sept. 30,
                                                               2008          2007        2008
<S>                                                         <C>           <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES
       Net income (loss)                                    $  (70,550)   $   72,723    $ (729,366)
             Adjustment to reconcile net income (loss)
               to net cash used in operating activities
             Stock issuance for salary                              --            --       107,912
             Stock issued for professional services             36,000            --        54,200
             Stock options compensation                             --            --       130,625
             Write-off of patent                                    --            --        18,724
             Realized gain on sales of investments                  --       (99,984)     (133,257)
       Changes in assets and liabilities
             Decrease in note and interest receivable               --            --        50,000
             Increase/(decrease) in accounts payable
              and accrued expenses                              (6,476)       (4,250)       89,212
                                                            ----------    ----------    ----------

       Net Cash Used in Operating Activities                   (41,026)      (31,511)     (411,950)
                                                            ----------    ----------    ----------

CASH FLOWS FROM INVESTING ACTIVITIES
             Purchases of investments                               --      (523,582)   (1,174,445)
             Proceeds from sale of investments                      --       312,484       996,620
                                                            ----------    ----------    ----------

       Net Cash (Used in) Provided by Investing Activities          --      (211,098)     (177,825)
                                                            ----------    ----------    ----------
CASH FLOWS FROM FINANCING ACTIVITIES
             Exercise of common stock warrants                      --            --         5,625
             Issuance of common stock                               --            --       304,200
                                                            ----------    ----------    ----------

       Net Cash Provided by Financing Activities                    --            --       309,825
                                                            ----------    ----------    ----------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS           (41,026)     (242,609)     (279,950)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIODS                186,287       435,167       425,211
                                                            ----------    ----------    ----------

CASH, END OF PERIODS                                        $  145,261    $  192,558    $  145,261
                                                            ==========    ==========    ==========

Non-cash operating activities:
    Stock issuance for salary in satisfaction of
    accrued salary included in accounts payable and
    accrued expenses                                                --            --       101,220
</TABLE>
          See accompanying notes to consolidated financial statements.

                                       5
<PAGE>

                  RIDGEFIELD ACQUISITION CORP. AND SUBSIDIARY
                         (A Development Stage Company)
               NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS

         The unaudited interim consolidated financial statements included herein
were prepared from the records of the Company in accordance with accounting
principles generally accepted in the United States of America and reflect all
adjustments, of a normal recurring nature, which are, in the opinion of
management, necessary to provide a fair statement of the results of operations
and financial position for the interim periods September 30, 2008 and 2007 and
cumulative amounts from January 1, 2000 through September 30, 2008. Such interim
consolidated financial statements generally conform to the presentation
reflected in the Company's Form 10-KSB filed with the Securities and Exchange
Commission for the year ended December 31, 2007. The current interim period
reported herein should be read in conjunction with the Company's Form 10-KSB
subject to independent audit at the end of the year.

         The results of operations for the interim periods are not necessarily
indicative of the results that may be expected for the fiscal year.


NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION

Ridgefield Acquisition Corp. (the "Company") was incorporated under the laws of
the State of Colorado on October 13, 1983. Effective June 23, 2006, the Company
was reincorporated under the laws of the State of Nevada through the merger of
the Company with a wholly-owned subsidiary of the Company.

Commencing January 1, 2000, the Company is considered a development stage
company as defined by Statement of Financial Accounting Standards (SFAS) No.7,
as it has no principal operations or revenue from operations.


PRINCIPLES OF CONSOLIDATION

The interim consolidated financial statements of Ridgefield Acquisition Corp.
include the accounts of Bio-Medical Automation, Inc., its wholly-owned
subsidiary. All inter-company transactions have been eliminated in
consolidation.

The accompanying interim consolidated financials statements as of September 30,
2008 and for the three and nine month periods then ended include the accounts of
the Company and the Subsidiary.

The Company has accumulated a deficit since reentering the development stage of
approximately $729,366 through September 30, 2008. In 1999, the Company sold all
of its assets relating to its historical line of business and in 2000 abandoned
its research and development efforts on a micro-robotic device. As of September
30, 2008, the Company has no principal operations or revenue from its
operations. The Company is now pursuing an acquisition strategy whereby it is
seeking to arrange for a merger, acquisition or other business combination with
a viable operating entity.

                                       6
<PAGE>

Note 2 - NEW ACCOUNTING STANDARDS

There are no new accounting standards that are expected to have a significant
impact on the Company.


Note 3 - INCOME TAXES

The Company adopted the provisions of FASB Interpretation No. 48, "Accounting
for Uncertainty in Income Taxes - an interpretation of FASB Statement No. 109"
("FIN No. 48"), on January 1, 2007. FIN No. 48 requires that the impact of tax
positions be recognized in the financial statements if they are more likely than
not of being sustained upon examination, based on the technical merits of the
position. As discussed in the consolidated financial statements in the 2007 Form
10-KSB, the Company has a valuation allowance against the full amount of its net
deferred tax assets.   The Company currently provides a valuation allowance
against deferred tax assets when it is more likely than not that some portion,
or all of its deferred tax assets, will not be realized. There was no impact to
the Company as a result of adopting FIN No. 48 as the Company's management has
determined that the Company has no uncertain tax positions requiring recognition
under FIN No. 48 both on January 1, 2007 (adoption) and on September 30, 2008.

The Company is subject to U.S. federal income tax as well as income tax of
certain state jurisdictions. The Company has not been audited by the I.R.S. or
any states in connection with income taxes. The periods from inception - 2007
remain open to examination by the I.R.S. and state authorities.

The Company recognizes interest accrued related to unrecognized tax benefits in
interest expense. Penalties, if incurred, are recognized as a component of
income tax expense.


NOTE 4 - RELATED PARTY TRANSACTIONS

On March 28, 2006, the Company entered into a new employment agreement with Mr.
Bronson, that provides Mr. Bronson will serve as President of the Company
without an annual salary.

In November 2001, the Company entered into a Mergers and Acquisitions Advisory
Agreement with Catalyst Financial LLC ("Catalyst"), an entity whose owner and
principal is the President of the Company. Under the terms of the agreement,
Catalyst will earn a fee, as outlined in the agreement, in the event the Company
completes a merger. The agreement was for a three year period and terminated in
November 2004. On March 25, 2005, the Board of Directors approved the renewal of
the Mergers and Acquisitions Advisory Agreement (the "M&A Advisory
Agreement")for a period of three (3) years commencing on April 1, 2005. The M&A
Advisory Agreement was also modified to provide that Catalyst shall receive a
monthly retainer fee in the amount of $1,000 commencing on April 1, 2005 and
continuing throughout the term of the M&A Advisory Agreement. On January 31,
2006, the Board of Directors of the Company directed the officers of the Company
to amend the M&A Advisory Agreement to provide that the monthly retainer fee be
increased from $1,000 per month to $5,000 per month from February 1, 2006
through January 31, 2007. Thereafter, the Company shall pay a monthly fee in the
amount of $1,000 through March 1, 2008. The M&A Advisory Agreement expired by
its terms on March 31, 2008.

                                       7
<PAGE>

NOTE 4 - RELATED PARTY TRANSACTIONS (continued)

On June 6, 2008, the Company entered into a consulting agreement with Catalyst,
pursuant to which Catalyst agreed to provide consulting services to the Company
relating to the management and administration of the Company's business affairs
and in connection with the Company's acquisition strategy, Catalyst shall assist
the Company in identifying and investigating prospective target companies for
mergers, acquisitions, business combinations and similar transactions, and, if
investigation warrants, advising the Company concerning the negotiation of terms
and the financial structure of such transactions.  As consideration for the
consulting services rendered and to be rendered by the Catalyst, the Company
shall: (1) pay Catalyst a monthly fee in the amount of $5,000 commencing on June
6, 2008 and continuing thereafter on the first day of each successive month
until January 1, 2010, and (2) the Company shall issue to Catalyst a total of
120,000 shares of the Company's common stock, $.001 par value (the "Shares").
The Shares shall be issued to Catalyst and shall vest at a rate of 6,000 shares
per month commencing on June 30, 2008 and an additional 6,000 shares shall vest
on the last day of each successive month thereafter until January 31, 2010. The
Shares will be issued at fair value based upon the closing price on the date of
issuance when earned by Catalyst. The Shares are restricted securities as that
term is described in the Securities Act of 1933 (the "Act") and are issued by
the Company in reliance of Section 4(2) of the Act. The Consulting Agreement
commenced on June 6, 2008 and shall terminate on January 31, 2010.


Subsequent Event
----------------

In accordance with the Consulting Agreement, on October 31, 2008, the Company
delivered 6,000 shares of the Company's common stock, $.001 par value, to
Catalyst Financial.


NOTE 5 - INVESTMENTS

Investments are classified as available for sale according to the provisions of
Financial Accounting Standards Board Statement No. 115, "Accounting for Certain
Investments in Debt and Equity Securities." Accordingly, the investments are
carried at fair value with unrealized gains and losses reported separately in
other comprehensive income (loss). Realized gains and losses are calculated
using the original cost of those investments. On June 1, 2007, the Company
purchased 57,500 shares of Argan, Inc., a publicly traded holding company, at a
price of $5.40 per share or $311,082. These investments had a fair market value
of $890,100 and cumulative unrealized gains of $579,018 at September 30, 2008.


NOTE 6 - ASSETS AND LIABILITIES MEASURED AT FAIR VALUE

On January 1, 2008, the Company adopted Statement of Financial Accounting
Standards No. 157, Fair Value Measurements" ("SFAS No. 157"). SFAS No. 157
defines fair value, establishes a framework for measuring fair value, and
expands disclosures about fair value measurements. SFAS No. 157 applies to
reported balances that are required or permitted to be measured at fair value
under existing accounting pronouncements; accordingly, the standard does not
require any new fair value measurements of reported balances. The adoption of
SFAS No. 157 did not have a material effect on the carrying values of the
Company's assets.

                                       8
<PAGE>

NOTE 6 - ASSETS AND LIABILITIES MEASURED AT FAIR VALUE (continued)

SFAS No. 157 emphasizes that fair value is a market-based measurement, not an
entity-specific measurement. Therefore, a fair value measurement should be
determined based on the assumptions that market participants would use in
pricing the asset or liability. As a basis for considering market participant
assumptions in fair value measurements, SFAS No. 157 establishes a fair value
hierarchy that distinguishes between market participant assumptions based on
market data obtained from sources independent of the reporting entity
(observable inputs that are classified within Levels 1 and 2 of the hierarchy)
and the reporting entity's own assumptions about market participant assumptions
(unobservable inputs classified within Level 3 of the hierarchy).

Level 1 inputs utilize quoted prices (unadjusted) in active markets for
identical assets or liabilities that the company has the ability to access.
Level 2 inputs are inputs other than quoted prices included in Level 1 that are
observable for the asset or liability, either directly or indirectly. Level 2
inputs may include quoted prices for similar assets and liabilities in active
markets, as well as inputs that are observable for the asset or liability (other
than quoted prices), such as interest rates, foreign exchange rates, and yield
curves that are observable at commonly quoted intervals. Level 3 inputs are
unobservable inputs for the asset or liability which are typically based on an
entity's own assumptions, as there is little, if any, related market activity.
In instances where the determination of the fair value measurement is based on
inputs from different levels of the fair value hierarchy, the level in the fair
value hierarchy within which the entire fair value measurement falls is based on
the lowest level input that is significant to the fair value measurement in its
entirety. The company's assessment of the significance of a particular input to
the fair value measurement in its entirety requires judgment, and considers
factors specific to the asset or liability.

Marketable Equity Securities

Currently, the Company owns 57,500 shares of common stock of Argan, Inc. (Note
5). The valuation of such stock is based on quoted prices (unadjusted) and as a
result the investments are classified within Level 1 of the fair-value
hierarchy.


Money Market Funds

Cash and cash equivalents include money market accounts valued at $48,569.

The Company has determined that the inputs associated with the fair value
determination are based on quoted prices (unadjusted) and as a result the
investments are classified within Level 1 of the fair-value hierarchy.

The table below presents the Company's assets and liabilities measured at fair
value on a recurring basis as of September 30, 2008, aggregated by the level in
the fair value hierarchy within which those measurements fall.

Assets and Liabilities Measured at Fair Value on a Recurring Basis at
September 30, 2008:

                                                                 Balance at
                              Level 1    Level 2   Level 3   September 30, 2008
                              -------------------------------------------------
Assets

Marketable Equity Securities  $890,100   $   --    $    --        $890,100

Money Market Funds            $ 48,569   $   --    $    --        $ 48,569

The Company does not have any fair value measurements within Level 2 or Level 3
of the fair value hierarchy as of September 30, 2008.

                                       9
<PAGE>

Item 2. Management's Discussion and Analysis of
        Financial Condition and Results of Operation


Forward Looking Statements Disclosure
-------------------------------------

      This report on Form 10-Q contains, in addition to historical information,
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the
"Exchange Act"). You can identify these forward-looking statements when you see
words such as "expect," "anticipate," "estimate," "may," "plans," "believe," and
other similar expressions. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and assumptions that
are difficult to predict. Actual results could differ materially from those
projected in the forward-looking statements. Factors that could cause such a
difference include, but are not limited to, those discussed in the section
entitled "Factors Affecting Operating Results and Market Price of Stock,"
contained in the Company's Annual Report on Form 10-KSB for the year ended
December 31, 2007. Readers are cautioned not to place undo reliance on these
forward-looking statements, which speak only as of the date hereof. We undertake
no obligation to update any forward-looking statements.

      The following discussion and analysis provides information which the
Company's management believes to be relevant to an assessment and understanding
of the Company's results of operations and financial condition. This discussion
should be read together with the Company's financial statements and the notes to
financial statements, which are included in this report, as well as the
Company's Annual Report on Form 10-KSB for the year ended December 31, 2007.

      Ridgefield Acquisition Corp. (the "Company") was incorporated as a
Colorado corporation on October 13, 1983 under the name Ozo Diversified, Inc. On
June 23, 2006, the Company filed Articles of Merger with the Secretary of State
of the State of Nevada that effected the merger between the Company and a
wholly-owned subsidiary formed under the laws of the State of Nevada ("RAC-NV"),
pursuant to a plan of merger, whereby RAC-NV was the surviving corporation. The
merger changed the domicile of the Company from the State of Colorado to the
State of Nevada. Furthermore, as a result of the plan of merger the Company is
authorized to issue 35,000,000 shares of capital stock consisting of 30,000,000
shares of common stock, $.001 par value per share and 5,000,000 shares of
preferred stock, $.01 par value per share.

      On March 9, 1999, the Company completed the sale of substantially all of
its assets to JOT Automation, Inc. (the "JOT Transaction"). As a result of the
JOT Transaction, the Company's historical business, the depaneling and routing
business, was considered to be a "discontinued operation" and, consequently,
provides no benefit to persons seeking to understand the Company's financial
condition or results of operations.

      Since July 2000, the Company has suspended all operations, except for
necessary administrative matters relating to the timely filing of periodic
reports as required by the Securities Exchange Act of 1934. Accordingly, during
the three and nine month periods ended September 30, 2008 and 2007 and the
period from January 1, 2000 through September 30, 2008, the Company has earned
no revenues other than interest income and income from investments.

                                       10
<PAGE>

Acquisition Strategy
--------------------

      The Company's plan of operation is to arrange for a merger, acquisition,
business combination or other arrangement by and between the Company and a
viable operating entity. The Company has not identified a viable operating
entity for a merger, acquisition, business combination or other arrangement, and
there can be no assurance that the Company will ever successfully arrange for a
merger, acquisition, business combination or other arrangement by and between
the Company and a viable operating entity.

      The Company anticipates that the selection of a business opportunity will
be a complex process and will involve a number of risks, because potentially
available business opportunities may occur in many different industries and may
be in various stages of development. Due in part to depressed economic
conditions in a number of geographic areas, rapid technological advances being
made in some industries and shortages of available capital, management believes
that there are numerous firms seeking either the limited additional capital
which the Company will have or the benefits of a publicly traded corporation, or
both. The perceived benefits of a publicly traded corporation may include
facilitating or improving the terms upon which additional equity financing may
be sought, providing liquidity for principal shareholders, creating a means for
providing incentive stock options or similar benefits to key employees,
providing liquidity for all shareholders and other factors.

      In some cases, management of the Company will have the authority to effect
acquisitions without submitting the proposal to the shareholders for their
consideration. In some instances, however, the proposed participation in a
business opportunity may be submitted to the shareholders for their
consideration, either voluntarily by the Board of Directors to seek the
shareholders' advice and consent, or because of a requirement of state law
to do so.

      In seeking to arrange a merger, acquisition, business combination or other
arrangement by and between the Company and a viable operating entity,
management's objective will be to obtain long-term capital appreciation for the
Company's shareholders. There can be no assurance that the Company will be able
to complete any merger, acquisition, business combination or other arrangement
by and between the Company and a viable operating entity.

      The Company may need additional funds in order to effectuate a merger,
acquisition or other arrangement by and between the Company and a viable
operating entity, although there is no assurance that the Company will be able
to obtain such additional funds, if needed. Even if the Company is able to
obtain additional funds there is no assurance that the Company will be able to
effectuate a merger, acquisition or other arrangement by and between the Company
and a viable operating entity.

                                       11
<PAGE>

Investment Strategy
-------------------

      On August 25, 2003, the Board of Directors of the Company authorized the
Company to invest a portion of the Company's cash in marketable securities in an
effort to realize a greater rate of return than the Company had been earning in
light of historically low interest rates. The Board directed that management
maintain at least $40,000 of the Company's cash in a federally insured bank or
money market account.

      In furtherance of the Company's investment strategy, the Company opened a
brokerage account with Catalyst Financial LLC ("Catalyst"), a broker-dealer
registered with the U.S. Securities and Exchange Commission and a member in good
standing with the National Association of Securities Dealers, Inc. Catalyst is
owned and controlled by Steven N. Bronson, the Company's President. Catalyst has
agreed to charge the Company commissions of no more that $.02 per share with a
minimum of $75 per trade on securities transactions. The Board approved the
commission structure to be charged by Catalyst. Mr. Bronson abstained from
voting on all Board resolutions concerning the Company's investment strategy and
the Company's arrangements with Catalyst.

      On January 12, 2007, the Company acquired 50,000 shares of Argan, Inc.
("Argan") common stock in a private transaction at a cost of $4.25 per share or
an aggregate amount of $212,500. On April 26, 2007, the Company sold all of its
50,000 shares of Argan at an average price of $6.26 for proceeds of $312,484.

      On June 1, 2007, the Company purchased 57,500 shares of Argan common stock
at an average price of $5.40 per share or $311,082. At September 30, 2008 the
Company's 57,500 shares of Argan common stock were valued at $890,100.

      While the Company will endeavor to invest in securities that have a
potential for gain, there can be no assurances that the Company will not suffer
losses based on its Investment Strategy.



                                       12
<PAGE>

Results of Operations
---------------------

      For the three months ended September 30, 2008, the Company had revenues
from investment income of $594. For the same period the Company incurred general
and administrative expenses of $47,901 resulting in a net loss from operations
of $47,307. General and administrative expenses for the three months ended
September 30, 2008 include costs associated with maintaining the Company's
status as a public company including (without limitation) filing reports with
the Securities and Exchange Commission.

      For the nine months ended September 30, 2008, the Company had revenues
from investment income of $2,215. For the same period the Company incurred
general and administrative expenses of $72,765 resulting in a net loss from
operations of $70,550. General and administrative expenses for the nine months
ended September 30, 2008 include costs associated with maintaining the Company's
status as a public company including (without limitation) filing reports with
the Securities and Exchange Commission.


Liquidity and Capital Resources
-------------------------------

      During the three and nine month periods ended September 30, 2008, the
Company satisfied its working capital needs from cash and cash equivalents on
hand and cash and cash equivalents generated from investment income during the
year. As of September 30, 2008, the Company had cash and cash equivalents on
hand totaling $145,261 and the Company, held 57,500 shares of Argan,
Inc.("Argan") common stock valued at $890,100.

      The Company's future financial condition will be subject to: (1) its
ability to arrange for a merger, acquisition or a business combination with an
operating business on favorable terms that will result in profitability, or (2)
its ability to successfully develop and exploit the Patent. There can be no
assurance that the Company will be able to do so or, if it is able to do so,
that the transaction will be on favorable terms not resulting in an unreasonable
amount of dilution to the Company's existing shareholders.

      The Company may need additional funds in order to effectuate a merger,
acquisition or other arrangement by and between the Company and a viable
operating entity, although there is no assurance that the Company will be able
to obtain such additional funds, if needed. Even if the Company is able to
obtain additional funds there is no assurance that the Company will be able to
effectuate a merger, acquisition or other arrangement by and between the Company
and a viable operating entity.


Item 3. Quantitative and Qualitative Disclosure about Market Risk

      A smaller reporting company is not required to provide the information
required by this Item.

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<PAGE>

Item 4T. Controls and Procedures

      We maintain "disclosure controls and procedures," as defined in Rules
13a-15(e) and 15d-15(e) under the Exchange Act, that are designed to ensure that
information required to be disclosed by us in reports we file or submit under
the Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the SEC's rules and forms, and that such information is
accumulated and communicated to our principal executive officer to allow timely
decisions regarding required disclosure.

      Evaluation of disclosure and controls and procedures.

      As of the end of the period covered by this report, the Company carried
out an evaluation, under the supervision and with the participation of our
Principal Executive Officer, of the effectiveness of the design and operation of
the Company's disclosure controls and procedures (as defined in Rules 13a-15(e)
and 15d-15(e) under the Exchange Act). Based on the evaluation, the Company's
Principal Executive Officer has concluded that the Company's disclosure controls
and procedures are designed to provide reasonable assurance that information
required to be disclosed by the Company in the reports that it files or submits
under the Exchange Act is recorded, processed, summarized and reported within
the time periods specified in the SEC's rules and forms and are operating in an
effective manner.

      Changes in internal controls over financial reporting.

      There have been no changes in Company's internal control over financial
reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act)
that occurred during Company's most recent quarter that has materially affected,
or is reasonably likely to materially affect, Company's internal control over
financial reporting.

      It should be noted that any system of controls, however well designed and
operated, can provide only reasonable, and not absolute, assurance that the
objectives of the system are met. In addition, the design of any control system
is based in part upon certain assumptions about the likelihood of future events.
Because of these and other inherent limitations of control systems, there is
only reasonable assurance that the Company's controls will succeed in achieving
their stated goals under all potential future conditions.


                          PART II - OTHER INFORMATION

Item 1. Legal Proceedings

      During the quarter ended September 30, 2008, the Company was not a party
to any material legal proceedings.


Item 5. Other Information

      On June 3, 2008, the Board of Directors duly authorized and approved the
Company's entry into a consulting agreement with Steven N. Bronson abstained
from the vote.

      On June 6, 2008, the Company entered into an agreement with Catalyst
Financial LLC ("Catalyst Financial"), a full service securities brokerage,
investment banking and consulting firm, owned by Steven N. Bronson, the
President and Chairman of the Company. (the "Consulting Agreement"). Pursuant to
the Consulting Agreement, Catalyst Financial agreed to provide consulting
services to the Company relating to the management and administration of the
Company's business affairs and in connection with the Company's acquisition
strategy.

                                       14
<PAGE>

      In consideration for the consulting services rendered and to be rendered
by the Catalyst Financial, the Company shall: (1) pay Catalyst Financial a
monthly fee in the amount of $5,000 commencing on June 6, 2008 and continuing
thereafter on the first day of each successive month until January 1, 2010, and
(2) the Company shall issue Catalyst Financial a total of 120,000 shares of the
Company's common stock, $.001 par value (the "Shares"). The Shares shall be
issued to Catalyst Financial and shall vest at a rate of 6,000 shares per month
commencing on June 30, 2008 and an additional 6,000 shares shall vest on the
last day of each successive month thereafter until January 31, 2010. The above
is just a summary of the Consulting Agreement, readers are referred to the
actual Consulting Agreement for all of its terms and conditions. A copy of the
Consulting Agreement is attached as Exhibit 10.19 to a Form 8-K, dated June 9,
2008.

      Pursuant to the Consulting Agreement, during the three months ended
September 30, 2008, the Company issued an aggregate amount of 18,000 shares of
the Company's common stock as follows: (1) 6,000 shares on July 31, 2008, (2)
6,000 shares on August 31, 2008 and (3) 6,000 shares on September 30, 2008.


Subsequent Event
----------------

      In accordance with the Consulting Agreement, on October 31, 2008 the
Company delivered 6,000 shares of the Company's common stock, $.001 par value,
to Catalyst Financial.


Item 6. Exhibits

      The following exhibits are hereby filed as part of this Quarterly Report
on Form 10-Q or incorporated herein by reference.

Exhibit
Number    Description of Document
------    -----------------------
31        President's Statement Pursuant to Section 302 of the Sarbanes-Oxley
          Act of 2002.

32        President's Written Certification Of Financial Statements Pursuant to
          18 U.S.C. Statute 1350.


                                   SIGNATURES

      In accordance with the requirements of the Exchange Act, the Registrant
caused this Report to be signed on its behalf by the undersigned, thereunto duly
authorized.

Dated: November 13, 2008


                                         RIDGEFIELD ACQUSITION CORP.

                                     By: /s/ Steven N. Bronson
                                         ---------------------------------------
                                         Steven N. Bronson, President
                                         (Principle Executive Officer),
                                         as Registrant's duly authorized officer


                                       15