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

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

                                   Form 10-Q

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

          For the quarterly period ended March 31, 2008.

          OR

[ ]       TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT.

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

                         Commission File No. -- 0-16335


                          Ridgefield Acquisition Corp.
       -----------------------------------------------------------------
       (Exact Name of Small Business Issuer as Specified in its Charter)


             Nevada                                       84-0922701
-------------------------------                     ----------------------
(State or other jurisdiction of                       (I.R.S. Employer
incorporation or organization)                      Identification Number)


                100 Mill Plain Road, Danbury, Connecticut 06811
           ---------------------------------------------------------
                    (Address of Principal Executive Offices)


                                 (203) 791-3871
           ---------------------------------------------------------
                          (Issuer's Telephone Number)

     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 past 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.

     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 equity, as of the latest practicable date.

     As of May 12, 2008, the issuer had 1,140,773 outstanding shares of common
stock.
<PAGE>

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



                                                                        Page

PART I - FINANCIAL INFORMATION                                            3

Item 1.  Financial Statements                                             3

         Consolidated Balance Sheets as of March 31, 2008
                 (unaudited) and December 31, 2007 (audited)              3

         Consolidated Statements of Operations and
                  Comprehensive Loss for the Three Months Ended
                 March 31, 2008 and 2007, Cumulative Amounts from
                  January 1, 2000 through March 31, 2008 (unaudited)      4

         Consolidated Statements of Cash Flows for the Three Months
                 Ended March 31, 2008 and 2007, Cumulative Amounts
                 from January 1, 2000 through March 31, 2008 (unaudited)  5

         Notes to Consolidated Financial Statements                       6


Item 2.  Management Discussion and Analysis or Plan of Operations        10

Item 3.  Quantitative and Qualitative Disclosure about Market Risk       13

Item 4T. Controls and Procedures                                         13


PART II - OTHER INFORMATION                                              14

Item 1.  Legal Proceedings                                               14

Item 6. Exhibits                                                         14

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>
                                                                  March 31, 2008 Dec. 31, 2007

                                                                     (Unaudited)  (Audited)
                                                                     -----------  -----------
<S>                                                                 <C>           <C>
                                       ASSETS
CURRENT ASSETS
    Cash and cash equivalents                                        $   180,346  $   186,287

    Investments                                                          789,475  $   767,625
                                                                     -----------  -----------

TOTAL ASSETS                                                         $   969,821  $   953,912
                                                                     ===========  ===========


                          LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
    Accounts payable and accrued expenses                            $     9,611  $     9,861
                                                                     -----------  -----------
TOTAL CURRENT LIABILITIES                                                  9,611        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 - 1,140,773 shares                        1,141        1,141
    Capital in excess of par value                                     2,093,003    2,093,003
    Accumulated deficit                                                 (947,820)    (947,820)
    Deficit accumulated during the development stage                    (664,507)    (658,816)
    Accumulated other comprehensive gain                                 478,393      456,543
                                                                     -----------  -----------

TOTAL STOCKHOLDERS' EQUITY                                               960,210      944,051
                                                                     -----------  -----------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY                            $   969,821   $   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 LOSS
                                  (UNAUDITED)
<TABLE>
<CAPTION>
                                             Three Months Ended      Cumulative Amounts
                                                  March 31,         from January 1, 2000
                                             2008           2007   through March 31, 2008
                                          ---------      --------- ----------------------
<S>                                       <C>            <C>              <C>
REVENUES
        Interest income                   $     901      $   1,434        $  50,135
        Realized gain on investments             --             --          133,258
                                          ---------      ---------        ---------
TOTAL REVENUES                                  901          1,434          183,393
                                          ---------      ---------        ---------
OPERATING EXPENSES

        General and administrative            6,592         12,458          698,551
        Employee stock options                   --             --          130,625
        Write off of patent                      --             --           18,724
                                          ---------      ---------        ---------
TOTAL EXPENSES                                6,592         12,458          847,900
                                          ---------      ---------        ---------

NET LOSS                                     (5,691)       (11,024)        (664,507)

OTHER COMPREHENSIVE INCOME/(LOSS)
     Unrealized gain on securities           21,850        104,500          578,056
     Reclassification adjustment
      for realized income/loss                   --             --          (99,663)
                                          ---------      ---------        ---------
OTHER COMPREHENSIVE INCOME                   21,850        104,500          478,393
                                          ---------      ---------        ---------

COMPREHENSIVE INCOME/(LOSS)               $ 16,159      $   93,476       $ (186,114)
                                          =========      =========        =========

NET LOSS PER COMMON SHARE
          Basic and Dilutive              $   (0.01)     $   (0.01)      $    (0.21)
                                          =========      =========       ==========


WEIGHTED AVERAGE NUMBER OF COMMON
         SHARES OUTSTANDING
         Basic and Dilutive               1,140,773      1,140,773          896,095
                                          =========      =========        =========
</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
                                                                  Three Months Ended     Amounts from
                                                                       March 31,        January 1, 2000
                                                                                       through March 31,
                                                                  2008          2007         2008
                                                               ---------    ---------- -----------------
<S>                                                           <C>            <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES
        Net loss                                              $  (5,691)     $ (11,024)    $(664,507)
             Adjustment to reconcile net loss to net cash
              used in operating activities
             Stock issuance for salary                               --             --       107,912
             Stock issued for professional services                  --             --        18,200
             Stock options compensation                              --             --       130,625
             Write-off of patent                                     --             --        18,724
             Realized gain on investments                            --             --      (133,257)
        Changes in assets and liabilities
             Decrease in note and interest receivable                --             --        50,000
             Increase (Decrease) in accounts payable and
                  accrued expenses                                 (250)         3,150        95,438
                                                              ---------      ---------     ---------
        Net Cash Used in Operating Activities                    (5,941)        (7,874)     (376,865)

CASH FLOWS FROM INVESTING ACTIVITIES
            Purchases of investments                                 --       (212,500)   (1,174,445)
            Proceeds from sale of investments                        --             --       996,620
                                                              ---------      ---------     ---------

        Net Cash Used in Investing Activities                        --       (212,500)     (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 DECREASE IN CASH AND CASH EQUIVALENTS                        (5,941)      (220,374)     (244,865)

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

CASH AND CASH EQUIVALENTS, END OF PERIODS                     $ 180,346      $ 214,793     $ 180,346
                                                              =========      =========     =========
</TABLE>
         See accompanying notes to consolidated financial statements.

                                       5
<PAGE>

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

         The unaudited 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 March 31, 2008 and 2007 and cumulative amounts from January
1, 2000 through March 31, 2008. Such 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. The Company had been
engaged in the design, manufacture and marketing of robotic workstations for the
electronics industry, including routing and depaneling workstations
predominately to entities in North America and the Pacific Rim. In November 1998
the Company entered into an Asset Purchase Agreement (the "JOT Agreement") with
JOT Automation, Inc. (JOT) a wholly-owned Texas subsidiary of JOT Automation
Group OYJ, a Finnish corporation. Pursuant to the agreement, the Company sold
JOT all of its assets relating to its depaneling and routing business in
exchange for $920,000 and the assumption of the operating liabilities related to
the Company's business assets. The sale was completed on March 9, 1999.

Subsequent to the sale to JOT, the Company's sole continuing operation was the
continuation of research and development activities on a prototype micro-robotic
device to manipulate organ tissues on an extremely small scale. The Company had
filed for a patent application for the device. As of December 31, 1999, the
Company's research and development activities for the device were suspended,
pending assessment of the economic benefit of continuing research and
development activities or sale of the patent, as well as assessment of other
corporate opportunities. In June 2000, the Company decided not to pursue further
development or sale of the proto-type device and has written-off the associated
patent costs.


                                       6
<PAGE>

NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION (Continued)

On January 31, 2006, the Board of Directors of the Company directed the officers
of the Company to take and approve certain corporate action with respect to the
Company's wholly-owned subsidiary Bio-Medical Automation, Inc., a Nevada
corporation (the "Subsidiary"). Steven N. Bronson, Alan Rosenberg and Louis
Meade were appointed to the Board of Directors of the Subsidiary for a term of
one year or until their successor is appointed and duly qualified; and Steven N.
Bronson was appointed the president, treasurer and secretary of the Subsidiary.
Additionally, the Company deposited $50,000 in the Subsidiary's bank account.
The Company took the foregoing actions to further its plans to exploit the
Patent owned by the Subsidiary. The Company also authorized the spin off of the
Subsidiary to the Company's shareholders on a pro rata basis, so that the
Subsidiary may be better able to exploit the Patent, by among other things being
able to attract financing. On April 27, 2007, the Board of Directors of the
Company voted to terminate the proposed spin-off of the Subsidiary.

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 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 financials statements as of March 31, 2008 and for the three
months then ended include the accounts of the Company and its wholly-owned
subsidiary.

The Company has accumulated a deficit since reentering the development stage of
$(664,507) through March 31, 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 March 31, 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.


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 March 31, 2008.

                                       7
<PAGE>

Note 3 - INCOME TAXES (continued)

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.

We recognize 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

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
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.

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.


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. 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
$789,475 and cumulative unrealized gains of $478,393 at March 31, 2008.

                                       8
<PAGE>

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.

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 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 $178,484.

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 March 31, 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 March 31,
2008:

                                                                   Balance at
                                Level 1    Level 2    Level 3    March 31, 2008
                                -----------------------------------------------
Assets

Marketable Equity Securities   $789,475    $   --     $    --       $789,475

Money Market Funds             $178,484    $   --     $    --       $178,484

The Company does not have any fair value measurements within Level 2 or Level 3
of the fair value hierarchy as of March 31, 2008.

                                       9
<PAGE>

Item 2. Management Discussion and Analysis or Plan of Operation


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

        This report on Form 10-QSB 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.

                                       10
<PAGE>

        Following the JOT Transaction the Company devoted its efforts to the
development of a prototype micro-robotic device (the "micro-robotic device") to
manipulate organic tissues on an extremely small scale. Due to the inability to
complete the micro-robotic device, the Company determined that it would cease
the development of the micro-robotic device and, as of June 30, 2000, the
capitalized costs related to the patent underlying the micro-robotic device were
written off by the Company. The Company never derived any revenues from the
micro-robotic device.

       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 months ended March 31, 2008 and 2007 and the period from January 1,
2000 through March 31, 2008, the Company has earned no revenues other than
interest income and income from investments.


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>

The Spin-Off of Bio-Medical
---------------------------

        In furtherance of the Company's plan to exploit the Patent, in April
2006, the Board of Directors of the Company authorized the spin-off of 100% of
the Company's wholly-owned subsidiary Bio-Medical to the Company's shareholders
on a pro rata basis. On or about May 30, 2006, the Company mailed to its
shareholders of record as of April 28, 2006, an Information Statement containing
the information concerning the Company and the Spin Off called for by Regulation
14C under the Securities Exchange Act of 1934. The Information Statement on
Schedule 14C is incorporated herein by reference. To consummate the Spin-Off,
Bio-Medical was required to file a registration statement on Form 10-SB to
register all of the issued and outstanding shares of Bio-Medical.

        On April 27, 2007, the Board of Directors of the Company voted to
terminate the proposed spin-off of Bio-Medical, based on current market
conditions and the risks associated with the business prospects of Bio-Medical.


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 March 31, 2008 the
Company's 57,500 shares of Argan common stock were valued at $789,475.

        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.


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

       For the three months ended March 31, 2008, the Company has not earned any
revenues, except for interest income of $901. For the same period the Company
incurred general and administrative expenses of $6,592 resulting in a net loss
from operations equal to $5,691. General and administrative expenses for the
three months ended March 31, 2008 costs associated with maintaining the
Company's status as a public company including (without limitation) filing
reports with the Securities and Exchange Commission.

                                       12
<PAGE>

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

        During the three months ended March 31, 2008, the Company satisfied its
working capital needs from cash on hand and cash generated from interest income
during the year. As of March 31, 2008, the Company had cash and cash equivalents
on hand in the amount of $180,346 and the Company, held 57,500 shares of Argan,
Inc.("Argan") common stock valued at $789,475.

        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.


Item 4T. Controls and Procedures

         Disclosure controls and procedures are controls and other procedures
that are designed to ensure that information required to be disclosed by the
Company in its periodic reports filed or submitted by the Company under the
Exchange Act is recorded, processed, summarized and reported, within the time
periods specified in the Securities and Exchange Commission's rules and forms.
Disclosure controls and procedures include, without limitation, controls and
procedures designed to ensure that information required to be disclosed by the
Company in its periodic reports that are filed under the Exchange Act is
accumulated and communicated to our management, including our principal
executive and financial officer, as appropriate 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 management, including the chief
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 chief
executive officer has concluded that the Company's disclosure controls and
procedures are designed to ensure 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 were no
changes in the Company's internal controls over financial reporting or in other
factors that have materially affected, or are reasonably likely to materially
affect, the Company's internal control over financial reporting.

                                       13
<PAGE>

                          PART II - OTHER INFORMATION

Item 1. Legal Proceedings

         During the quarter ended March 31, 2008, the Company was not a party to
any material legal proceedings.


Item 6. Exhibits

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

3.1      Articles of Incorporation, incorporated by reference to Registration
         Statement No. 33-13074-D as Exhibit 3.1.

3.2      Amended Bylaws adopted June 1, 1987, incorporated by reference to
         Annual Report on Form 10-K for the fiscal year ended December 31, 1987
         as Exhibit 3.2.

3.4      Articles of Amendment to Restated Articles of Incorporation dated March
         7,1991. Incorporated by reference to Annual Report on Form 10-K for
         fiscal year ended December 31, 1990 as Exhibit 3.4.

3.5      Articles of Amendment to Restated Articles of Incorporation dated March
         17, 1999, incorporated by reference to the Company's Current Report on
         Form 8-K reporting an event of March 9, 1999.

3.6      Articles of Incorporation of Bio-Medical Automation, Inc. a Nevada
         corporation, the Company's wholly owned subsidiary.

3.7      By-laws of Bio-Medical Automation, Inc. a Nevada corporation, the
         Company's wholly owned subsidiary.

10.1     OEM Purchase Agreement dated January 15, 1990, between the Company and
         Ariel Electronics, Inc. incorporated by reference to Annual Report on
         Form 10-K for the fiscal year ended December 31, 1989 as Exhibit 10.1.

10.2     Form of Convertible Promissory Note, 12/30/93 Private Placement
         incorporated by reference to Annual Report on Form 10-KSB for the
         fiscal year ended December 31, 1993 as Exhibit 10.2.

10.3     Form of Non-Convertible Promissory Note, 12/30/93 Private Placement
         incorporated by reference to Annual Report on Form 10-KSB for the
         fiscal year ended December 31, 1993 as Exhibit 10.3.

10.4     Form of Note Purchaser Warrant Agreement and Warrant, 12/30/93 Private
         Placement incorporated by reference to Annual Report on Form 10-KSB for
         the fiscal year ended December 31, 1993 as Exhibit 10.4.

10.5     Form of Promissory Note, April 1, 1996.

10.6     Form of Security Agreement, April 1, 1996.

10.7     Form of Common Stock Purchase Warrant, April 1, 1996.

10.8     Form of Promissory Note, July 1, 1996.

10.9     Form of April 1, 1996 Promissory Note Extension, October 17, 1996.

10.10    Form of Common Stock Purchase Warrant, October 10, 1996.

                                       14
<PAGE>

10.11    Asset Purchase Agreement with JOT incorporated by reference to Form 8-K
         reporting an event of November 4, 1998, and amendment thereto
         incorporated by reference to Form 8-K reporting an event of December
         15, 1998.

10.12    Stock Purchase Agreement, between Bio-Medical Automation, Inc. and
         Steven N. Bronson, incorporated by reference to the Current Report on
         Form 8-K filed on April 6, 2000.

10.13    Employment Agreement between Bio-Medical Automation, Inc. and Steven N.
         Bronson, dated as of March 24, 2001, incorporated by reference to
         Quarterly Report on Form 10-QSB for the quarter ended March 31, 2001.

10.14    Mergers and Acquisitions Advisory Agreement, dated as of November 13,
         2001, between Bio-Medical Automation, Inc. and Catalyst Financial LLC
         incorporated by reference to the Annual Report on Form 10-KSB for the
         year ended December 31, 2001.

10.15    Mergers and Acquisitions Advisory Agreement, dated as of April 1, 2005,
         between Ridgefield Acquisition Corp. and Catalyst Financial LLC.

10.16    Appointment of Atlas Stock Transfer Agent Corporation as the transfer
         Agent for Ridgefield Acquisition Corp.

10.17    Employment Agreement between Ridgefield Acquisition Corp. and Steven N.
         Bronson, dated as of March 28, 2006.

10.18    Addendum, dated as of February 1, 2006, to Mergers and Acquisitions
         Advisory Agreement, dated as of April 1, 2005, between Ridgefield
         Acquisition Corp. and Catalyst Financial LLC.

14       Code of Ethics

31*      President's Written Certification Of Financial Statements 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.

--------------------------------
*    Filed herewith


                                   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: May 15, 2008


                                         RIDGEFIELD ACQUSITION CORP.


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


                                       15
<PAGE>

                                 EXHIBIT INDEX


The following Exhibits are filed herewith:

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.