U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

     |X| Quarterly report pursuant to Sections 13 or 15(d) of the Securities
                              Exchange Act of 1934

                  For the quarterly period ended June 30, 2005

    |_| Transition report pursuant to Sections 13 or 15(d) of the Securities
                              Exchange Act of 1934

        For the transition period from _______________ to _______________

                         Commission File Number: 0-25007

                         Amalgamated Technologies, Inc.
        (Exact Name of Small Business Issuer as Specified in Its Charter)

           Delaware                                              65-0656268
 ------------------------------                             ------------------
(State or Other Jurisdiction of                            (I.R.S. Employer
 Incorporation or Organization)                             Identification No.)

                 53 East 53rd Street., 48TH Fl., New York, NY 10022
          (Address of Principal Executive Offices, Including Zip Code)

                                 (212) 521-5180
                (Issuer's Telephone Number, Including Area Code)


             ------------------------------------------------------
              (Former Name, Former Address and Former Fiscal Year,
                          if Changed Since Last Report)

Check 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, and (2) has been subject to such filing  requirements for the past 90
days. Yes |X| No |_|

As of August 12, 2005, there were 10,393,362  shares of the Registrant's  common
stock, par value $0.0001 per share, issued and outstanding.

Transitional Small Business Disclosure Form (check one) Yes |_| No |X|


<PAGE>

                         AMALGAMATED TECHNOLOGIES, INC.
                  JUNE 30, 2005 QUARTERLY REPORT ON FORM 10-QSB
                                TABLE OF CONTENTS

                                                                            PAGE

Special Note Regarding Forward Looking Statements..............................1

PART I.  FINANCIAL INFORMATION.................................................2

Item 1.  Financial Statements..................................................2

         Balance Sheet as of June 30, 2005 (unaudited).........................2

         Statements of Operations (unaudited) for the Three and
         Six Months Ended June 30, 2005 and 2004...............................3

         Statements of Cash Flows (unaudited) for the
         Six Months Ended June 30, 2005 and 2004...............................4

         Notes to Financial Statements.........................................5

Item 2.  Management's Plan of Operation........................................7

Item 3.  Controls and Procedures...............................................7

PART II. OTHER INFORMATION.....................................................7

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds ..........7

Item 6.  Exhibits .............................................................8


<PAGE>

                SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

         In this section, "Special Note Regarding  Forward-Looking  Statements,"
references to "we," "us," "our," "ours," refer to Amalgamated Technologies, Inc.

         To the extent that the information  presented in this Quarterly  Report
on Form 10-QSB  discusses  financial  projections,  information or  expectations
about our  products or markets,  or  otherwise  makes  statements  about  future
events, such statements are forward-looking. We are making these forward-looking
statements in reliance on the safe harbor  provisions of the Private  Securities
Litigation  Reform  Act of 1995.  Although  we  believe  that  the  expectations
reflected  in  these   forward-looking   statements   are  based  on  reasonable
assumptions,  there are a number of risks and  uncertainties  that  could  cause
actual results to differ materially from such forward-looking statements.  These
risks and  uncertainties  are  described,  among other places in this  Quarterly
Report, in "Plan of Operation".

         In addition,  we disclaim any obligations to update any forward-looking
statements to reflect events or  circumstances  after the date of this Quarterly
Report.  When considering such  forward-looking  statements,  you should keep in
mind the risks  referenced  above and the other  cautionary  statements  in this
Quarterly Report.


                                       1
<PAGE>


PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

<TABLE>
<CAPTION>
                                     AMALGAMATED TECHNOLOGIES, INC.
                                              BALANCE SHEET
                                              JUNE 30, 2005
                                               (UNAUDITED)

                                                 ASSETS
<S>                                                                                      <C>
CURRENT ASSETS:
   Cash and cash in escrow                                                                $      262,081
   Marketable Securities                                                                       5,216,450
   Prepaid expense                                                                                25,000
                                                                                          --------------
     Total Current Assets                                                                      5,503,531

OTHER ASSETS:
   Security deposit and other assets                                                              41,196
                                                                                          --------------
        Total Assets                                                                      $    5,544,727
                                                                                          ==============
                                  LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
   Accounts payable and accrued expenses                                                    $     58,896
   Advances from stockholders                                                                     21,502
                                                                                          --------------
     Total Current Liabilities                                                                    80,398
                                                                                          --------------
STOCKHOLDERS' EQUITY:
   Preferred Stock, $.0001 par value, 10,000,000 shares authorized;
     Series B, 100,000 shares issued and outstanding  (liquidation value: $1,000,000)            100,000
   Common Stock, $.0001 par value, 200,000,000 shares authorized,
      10,393,362  shares issued and outstanding                                                    1,040
   Additional paid-in capital                                                                  9,382,378
   Accumulated deficit                                                                        (4,019,089)
                                                                                          --------------
        Total Stockholders' Equity                                                             5,464,329
                                                                                          --------------
        Total Liabilities and Stockholders' Equity                                        $    5,544,727
                                                                                          ==============
</TABLE>


See notes to financial statements.


                                                   2
<PAGE>

<TABLE>
<CAPTION>
                                 AMALGAMATED TECHNOLOGIES, INC.
                                    STATEMENTS OF OPERATIONS
                                          (UNAUDITED)

                                         THREE MONTHS ENDED             SIX MONTHS ENDED
                                              JUNE 30,                      JUNE 30,
                                   ----------------------------    ----------------------------
                                       2005            2004            2005            2004
                                   ------------    ------------    ------------    ------------
<S>                                <C>             <C>             <C>             <C>
REVENUE                            $         --    $         --    $         --    $         --

OPERATING EXPENSES:
   General and administrative           211,454          94,411         487,197         108,485
                                   ------------    ------------    ------------    ------------
OPERATING LOSS                         (211,454)        (94,411)       (487,197)       (108,485)
                                   ------------    ------------    ------------    ------------
OTHER INCOME:
   Interest income, net                  13,189              28          33,761              30
   Dividends                             21,234              --          21,234              --
   Net unrealized holding losses       (170,990)             --        (170,990)             --
                                   ------------    ------------    ------------    ------------
TOTAL OTHER INCOME                     (136,567)             28        (115,995)             30
                                   ------------    ------------    ------------    ------------
NET LOSS                           $   (348,021)   $    (94,383)   $   (603,192)   $   (108,455)
                                   ============    ============    ============    ============
BASIC NET LOSS
PER COMMON SHARE                   $      (0.03)   $      (0.01)   $      (0.06)   $      (0.02)
                                   ============    ============    ============    ============
BASIC WEIGHTED AVERAGE
 SHARES OUTSTANDING                  10,373,362       7,834,387      10,020,618       5,930,541
                                   ============    ============    ============    ============
</TABLE>


See notes to financial statements.


                                               3
<PAGE>

                             AMALGAMATED TECHNOLOGIES, INC.
                                STATEMENTS OF CASH FLOWS

                              SIX MONTH ENDED JUNE 30, 2005
                                       (UNAUDITED)

<TABLE>
<CAPTION>
                                                                  2005           2004
                                                              -----------    -----------
<S>                                                           <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net loss                                                   $  (603,192)   $  (108,455)
   Adjustments to reconcile net loss to net cash
     used in operating activities:
          Net unrealized holding losses on investments            170,990             --
        Changes in assets and liabilities:
          Prepaid expenses                                        (43,750)            --
          Accounts payable and accrued expenses                   (99,239)       (41,178)
                                                              -----------    -----------
                  Net cash used in operating activities          (575,191)      (149,633)
                                                              -----------    -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
   Purchases of investments                                    (5,387,440)            --
                                                              -----------    -----------
                  Net cash used in investing activities        (5,387,440)            --
                                                              -----------    -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
   (Decrease) increase in advances from stockholders              (26,849)        11,025
   Proceeds from issuance of preferred stock                           --        100,000
   Proceeds from issuance of common stock                       1,300,000      5,428,866
                                                              -----------    -----------
                  Net cash provided by financing activities     1,273,151      5,539,891
                                                              -----------    -----------
NET INCREASE (DECREASE) IN CASH                                (4,689,480)     5,390,258

CASH, beginning of period                                       4,951,561            490
                                                              -----------    -----------
CASH, end of period                                           $   262,081    $ 5,390,748
                                                              ===========    ===========
</TABLE>


See notes to financial statements.


                                           4
<PAGE>

                         AMALGAMATED TECHNOLOGIES, INC.

                          NOTES TO FINANCIAL STATEMENTS

1.    Nature of Business

      Amalgamated  Technologies,  Inc. (the "Company") was formed under the laws
      of  Delaware  on March 7, 1996.  The  Company  presently  has no  business
      operations and it is currently exploring strategic business opportunities.

2.    Basis of Presentation and Significant Accounting Policies

      Basis of Presentation

      The  accompanying  unaudited  financial  statements  have been prepared in
      accordance with  accounting  principles  generally  accepted in the United
      States for interim financial  information as contained in the instructions
      to Form 10-QSB and Item 310(b) of Regulation S-B. Accordingly, they do not
      include  all of the  information  and  footnotes  required  by  accounting
      principles  generally accepted in the United States for complete financial
      statements.  In the  opinion  of  management,  all  normal  and  recurring
      adjustments and accruals considered necessary for a fair presentation have
      been included. Operating results for the three and six-month periods ended
      June 30, 2005 are not  necessarily  indicative  of the results that may be
      expected for the year ending  December 31, 2005. For further  information,
      refer to the financial  statements and footnotes  thereto  included in the
      Company's  annual  shareholders'  report  incorporated by reference in the
      Form 10-KSB as of December 31, 2004 filed with the SEC on April 15, 2005.

      Significant Accounting Policies

      Marketable    Securities-   The   Company   determines   the   appropriate
      classification  of its  investments  in debt and equity  securities at the
      time of purchase and reevaluates such determinations at each balance sheet
      date.  Marketable  securities that are bought and held principally for the
      purpose  of  selling  them in the near  term  are  classified  as  trading
      securities and reported at fair value,  with  unrealized  gains and losses
      included in earnings.

3.    Stockholders' Equity

      On March  15,  2005  and  April  13,  2005,  the  Company  closed  private
      placements  under  which the  Company  sold an  aggregate  of 726,667  and
      140,000 shares,  respectively,  of its common stock at a purchase price of
      $1.50 per share,  for gross  proceeds of an  aggregate of  $1,090,000  and
      $210,000, respectively.

4.    Related Party Transactions

      During the six months  ended June 30,  2005,  management  fees of $180,000
      were paid to a  stockholder  of the Company.  Management  fees for the six
      months ended June 30, 2004 were $23,500.

5.    Commitments

      In April  2005,  the  Company  entered  into a  consulting  agreement  for
      services to assist the Company with the  identification  of an acquisition
      or merger candidate.  The term of the agreement is the lesser of 24 months
      from  the  date  of  execution  or the  closing  of an  acquisition  of an
      operating  company.  The fee for these  consulting  services is  $150,000,
      payable as follows: (1) $50,000 on execution of the agreement; (2) $50,000
      upon  execution of a letter of intent for an  acquisition  of an operating
      company; and (3) $50,000 upon the closing of such acquisition. The Company
      is amortizing the $50,000 initial payment over twenty-four months.


                                       5
<PAGE>

6.    Recent Accounting Pronouncements

      The Financial  Accounting  Standards  Board has revised the accounting for
      share based payments  (stock based  payments),  SFAS 123R, to be effective
      for the year ending  December 31, 2006. The Company has not yet determined
      what the effect will be, if any, on their financial statements

      Management  does not believe that any other recently  issued,  but not yet
      effective  accounting  pronouncements,  if adopted,  would have a material
      effect on the accompanying financial statements.

7.    Marketable Securities

      The  Company's  marketable  securities,  all of which  are  classified  as
      trading  securities,  are  carried at their fair value based on the quoted
      market  prices  of the  securities  at June 30,  2005.  The  common  stock
      represents  67,500  shares of  Majesco  Entertainment  Company,  Inc.  The
      Company's controlling shareholders are also investors in Majesco, a NASDAQ
      listed company.

      The composition of trading securities, is as follows at June 30, 2005:

                                    JUNE 30, 2005
                             -------------------------
                                 Cost      Fair Value
                             ---------     ----------
      Common stocks            612,440       441,450
      Preferred stocks       4,775,000     4,775,000
                             ---------     ---------
                             5,387,440     5,216,450
                             =========     =========


      Investment income for the six months ended June 30, 2005,  consists of the
      following:

                                      JUNE 30, 2005
                                      -------------
      Dividend income                        21,234
      Net unrealized holding losses        (170,990)
                                      -------------
         Net investment (loss)             (149,756)
                                      =============

8.    Subsequent Event

      On July 25, 2005,  the Company  entered into a consulting  agreement for a
      one-year term. The monthly  consulting fees will be $5,000. The consultant
      will provide advisory and consultancy  services,  including preparation of
      investor  materials and general financial advice regarding  operations and
      business strategy.


                                       6
<PAGE>

ITEM 2.  MANAGEMENT'S PLAN OF OPERATION

      In this  section,  "Plan of  Operation,"  references to "we," "us," "our,"
"ours," and the "Company" refer to Amalgamated Technologies, Inc.

      We are in the process of implementing a corporate reorganization.  As part
of such reorganization,  we have secured new corporate participation, as a means
of enhancing  shareholder  value.  This  improved  our  liquidity as a result of
additional  proceeds  from the  issuances of stock.  While we currently  have no
revenues,  we have  reasonable  operating costs and expenses at the present time
due to our limited operating activities.

      Since such reorganization was implemented,  our plan of operation has been
to attempt to merge or effect a business  combination with a domestic or foreign
private  operating  entity.  Our  management  believes  that there are perceived
benefits  to  being a  "reporting  company"  with a  class  of  publicly  traded
securities  which may be attractive to private  entities.  Other than activities
related to attempting to locate such a candidate, we do not currently anticipate
conducting any operations.

      We may enter into a  definitive  agreement  with a wide variety of private
businesses  without  limitation  as to their  industry  or  revenues.  It is not
possible at this time to predict  when,  if ever,  we will enter into a business
combination  with  any  such  private  company  or what  will  be the  industry,
operating history,  revenues,  future prospects or other  characteristics of any
such  company.  As  of  the  date  hereof,  we  are  not  currently  engaged  in
negotiations concerning any such business combination.

      At the present time, we have no commitments for capital  expenditures  and
we do not  anticipate  any until we establish a business or acquire an operating
business. We do not own any plant or significant equipment.  We do not presently
engage in any product research and development and have no plans to do so in the
foreseeable future. We have no present plans to add employees although we may do
so in the future if we engage in any merger or acquisition transactions. As part
of our  corporate  reorganization  we have decided to look at other  ventures of
merit for corporate  participation  as a means of enhancing  shareholder  value.
This may  involve  additional  sales of equity or debt  securities  in merger or
acquisition transactions.

ITEM 3.  CONTROLS AND PROCEDURES

      (a)  Evaluation  of  Disclosure  Controls and  Procedures.  Our  principal
executive  officer  and  principal  financial  officer,   after  evaluating  the
effectiveness of our disclosure  controls and procedures (as defined in Exchange
Act Rules  13a-15(e) and  15d-15(e)) as of the end of the period covered by this
Quarterly  Report on Form 10-QSB,  has concluded that, based on such evaluation,
our  disclosure  controls and  procedures  were adequate and effective to ensure
that  material  information  relating  to us,  was made  known to him by others,
particularly during the period in which this Quarterly Report on Form 10-QSB was
being prepared.

      (b) Changes in Internal  Controls.  There were no changes in our  internal
control over financial  reporting,  identified in connection with the evaluation
of such internal control that occurred during our last fiscal quarter, that have
materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.


PART II. OTHER INFORMATION

ITEM 2.  Unregistered Sales of Equity Securities and Use of Proceeds

         Sales of  Unregistered  Securities.  During the three months ended June
         30, 2005 the  Company  consummated  the  following  equity  transaction
         requirements under Section 4 (2) and Regulation D of the Securities Act
         of  1933,  as  amended,  and  the  rules  and  regulations  promulgated
         thereunder:

         On April 13, 2005,  the Company  realized  gross  proceeds of $ 210,000
         related  to the  private  placement  sale of  140,000  shares of common
         stock.


                                       7
<PAGE>

ITEM 6.  EXHIBITS

The following exhibits are being filed with this Report:

Exhibit
Number         Description
-------        -----------------------------------------------------------------

31.1           Certification of Principal  Financial Officer Pursuant to Section
               302 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350.

31.2           Certification of Principal  Executive Officer Pursuant to Section
               302 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350.

32.1           Certification  of  Principal   Executive  Officer  and  Principal
               Financial  Officer Pursuant to Section 906 of the  Sarbanes-Oxley
               Act of 2002, 18 U.S.C. Section 1350.


                                   SIGNATURES

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

                                           AMALGAMATED TECHNOLOGIES, INC.


Dated:  August 22, 2005                    /s/ Robert Ellin
                                           -------------------------------------
                                           Robert Ellin
                                           President and Chief Financial Officer
                                          (Principal Executive Officer and
                                           Principal Financial Officer)


                                       8