UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   FORM 10-QSB   (Mark One) xQUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the quarterly period ended March 31, 2005 o        TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from to Commission file no. 000-15303 NT HOLDING CORP. (Formerly ABSS, Corp.) (Name of Small Business Issuer in its Charter)  Nevada (Reincorporated)
73-1215433(State or other jurisdiction ofincorporation or organization)
(IRS Employer Identification Number)  385 Freeport, #1, Sparks, NV89431 (Address of Principal Executive Offices)(Zip Code) (917)981-4569 (Issuers Telephone Number, Including Area Code) Check whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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. YesxNo o  APPLICABLE ONLY TO CORPORATE ISSUERS  State the number of shares outstanding of each of the issuers classes of common equity, as of the latest practicable date:  As of May 6, 2005, 3,086,665 shares of common stock were outstanding.  Transitional Small Business Disclosure Format (Check one): Yes( ) No (X)     1     NT HOLDING CORP.



TABLE OF CONTENTS





PART I
FINANCIAL STATEMENTS
Page #Item 1.
Financial StatementsCondensed Consolidated Balance Sheets - March 31, 2005 and December 31, 2004
4Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months Ended March 31, 2005 and 2004.
5Consolidated Statements of Cash Flows for the Three Months EndedMarch 31, 2005 and 2004.
6Notes to Condensed Consolidated Financial Statements
7Item 2.
Managements Discussion and Analysis or Plan of Operation
8Item 3.
Controls and Procedures
9Part II -
Other InformationItem 1.
Legal Proceedings
10Item 2.
Changes in Securities and Small Business Issuer Purchase of Equity Securities
10Item 3.
Defaults Upon Senior Securities
10Item 4.
Submission of Matters to a Vote of Security Holders
10Item 5.
Other Information
10Item 6.
Exhibits and Reports on Form 8K
10SIGNATURES

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PART I - FINANCIAL INFORMATION



Item 1.
Financial Statements

As used herein, the term Company refers to NT Holding Corp., a Nevada corporation, and its subsidiaries and predecessors unless otherwise indicated. Unaudited, consolidated condensed interim financial statements including a balance sheet for the Company as of the quarter ended March 31, 2005and statements of operations, and statements of cash flows for the interim period up to the date of such balance sheet and the comparable period of the preceding year are attached hereto as Pages F-1 through F-5 and are incorporated herein by this reference.



BASIS OF PRESENTATION



The accompanying unaudited financial statements are presented in accordance with accounting principles generally accepted in the United States of America for interim financial information and the instructions for Form 10-QSB and Item 310 under subpart A 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 of America for complete financial statements. The accompanying statements should be read in conjunction with the audited financial statements for the years ended December 31, 2004 and December 31, 2003.In the opinion of management, all adjustments (consisting only of normal occurring accruals) considered necessary in order to make the financial statements not misleading have been included. Operating results for the quarter ended March 31, 2005 are not necessarily
indicative of results that may be expected for the year ended December 31, 2005. The financial statements are presented on the accrual basis.









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NT HOLDING CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETSMARCH 31, 2005 AND DECEMBER 31, 2004March 31,

December 31,2005

2004(Unaudited)

(Audited)ASSETSCURRENT ASSETS:Cash
$2,477

$85Total Current Assets
2,477

85PROPERTY, PLANT AND EQUIPMENT:Equipment, net of accumulated depreciation of $681 at March 31, 2005
7,495

8,176OTHER ASSETS:Deposit
15,000

15,000TOTAL ASSETS
$ 24,972

$ 23,261LIABILITIES AND STOCKHOLDERS' EQUITYCURRENT LIABILITIES:Current maturities of notes payable - related parties
$ 224,000

$ 204,000Accounts payable and accrued expenses
188,285

182,767Shareholder advances
30,600

30,600Total Current Liabilities
442,885

417,367Commitments and contingencies
-

-STOCKHOLDERS' EQUITY (DEFICIENCY):Preferred stock; 5,000,000 shares authorized; $.001 par value;0 shares issued and outstanding
-

-Capital stock, $.001 par value; 100,000,000 shares authorized;3,086,665 shares issued and outstandingat March 31, 2005 and 2004, respectively
3,087

3,087Additional paid-in capital
8,810,771

8,810,771Accumulated (deficit)
(9,231,771)

(9,207,964)Total Stockholders' Equity (Deficiency)
(417,913)

(394,106)TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)
$ 24,972

$ 23,261



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NT HOLDING CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSTHREE MONTHS ENDED MARCH 31, 2005 AND 2004Three Months

Three MonthsEnded

EndedMarch 31,

March 31,2005

2004(Unaudited)

(Unaudited)REVENUES


$ -

$ -OPERATING EXPENSES:Depreciation and amortization


681

-General and administrative expenses


18,952

6,580TOTAL OPERATING EXPENSES


19,633

6,580(LOSS) FROM OPERATIONS


(19,633)

(6,580)OTHER INCOME (EXPENSE)Interest expense


(4,178)

(3,500)Interest income


4

6NET OTHER INCOME (EXPENSE)


(4,174)

(3,494)NET INCOME (LOSS)


$ (23,807)

$ (10,074)NET INCOME (LOSS) PER SHARE:BASIC AND DILUTED


$ (0.01)

$ (0.00)WEIGHTED AVERAGE SHARES OUTSTANDING:BASIC AND DILUTED


3,086,665

2,905,580



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NT HOLDING CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWSTHREE MONTHS ENDED MARCH 31, 2005 AND 2004Three Months

Three MonthsEnded

EndedMarch 31,

March 31,2005

2004(Unaudited)

(Unaudited)CASH FLOWS FROM OPERATING ACTIVITIES:Net income (loss)
$ (23,807)

$ (10,074)Adjustments to reconcile net loss to net cash usedin operating activities:Depreciation and amortization
681

-Cancellation of debt
-

-Changes in assets and liabilities:Increase in accounts payable and accrued expenses
5,518

(919)Net cash used in operating activities
(17,608)

(10,993)CASH FLOWS FROM INVESTING ACTIVITIES:Net cash used in investing activities
-

-CASH FLOWS FROM FINANCING ACTIVITIES:Increase in notes payable
20,000

-Issuance of common stock
-

3,000Increase in amounts due to shareholder
-

200Net cash provided by financing activities
20,000

3,200Net Increase (decrease) in Cash
2,392

(7,793)CASH AT BEGINNING PERIOD
85

9,417CASH AT END OF PERIOD
$ 2,477

$ 1,624SUPPLEMENTAL CASH FLOW INFORMATION:Cash paid for interest
$ -

$ -Cash paid for income taxes
$ -

$ -



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NT HOLDING CORP. AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED INTERIM

CONDENSED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED MARCH 31, 2005



NOTE 1 - BASIS OF PRESENTATION



The interim financial statements at March 31, 2005 and for the three month periods ended March 31, 2005 and 2004 are unaudited, but include all adjustments which the Company considers necessary for a fair presentation.



The accompanying unaudited financial statements are for the interim periods and do not include all disclosures normally provided in annual financial statements, and should be read in conjunction with the Companys Form 10-KSB for the year ended December 31, 2004. The accompanying unaudited interim financial statements for the three month periods ended March 31, 2005 and 2004, are not necessarily indicative of the results which can be expected for the entire year.



The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.



NOTE 2 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES



Principles of Consolidation



The accompanying consolidated financial statements include the accounts of its wholly owned subsidiaries, Money Buckets, Inc. and PNC Labs. No activity has occurred in the subsidiaries, except a letter of intent and a $15,000 deposit for future product development in the health industry by PNC Labs. All inter-company balances and transactions have been eliminated.





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ITEM 2.MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS ANDRESULTS OF OPERATIONS



LIQUIDITY



During the three months ended March 31, 2005, the Companys working capital decreased. This was due to operating losses incurred during this quarter. The Company does not currently have sufficient capital in its accounts, nor sufficient firm commitments for capital to assure its ability to meet its current obligations or to continue its planned operations. The Company is continuing to pursue working capital and additional revenue through the seeking of the capital it needs to carry on its planned operations. There is no assurance that any of the planned activities will be successful.



The Company agreed in concept with a letter of intent with a company and made a $15,000 deposit towards future development of products in the health industry.



In February 2005, the Company borrowed $20,000 from a shareholder with interest terms of 10% per annum with a convertibility feature into common stock with a strike price of forty cents.



CAPITAL RESOURCES



As a result of its limited liquidity, the Company has limited access to additional capital resources. The Company does not have the capital to totally fund the obligations that have matured to any of its vendors and shareholders.



The shareholders have agreed to roll over any existing loans until the company has stronger liquidity.



The Company has received additional capital through the expansion of vendor financing and loans from its directors and shareholders during previous quarters and expects such financing will be its only source of capital in the nearfuture. Additionally, certain options have been exercised to provide the working capital needed for the operations of the Company.



Though the obtaining of the additional capital is not guaranteed, the management of the Company believes it will be able to obtain the capital required to meet its current obligations and actively pursue its planned business activities.



In February 2005, the Company borrowed $20,000 from a shareholder with interest terms of 10% per annum with a convertibility feature into common stock with a strike price of forty cents.



OPERATIONS



The previous operations of the Company were ceased. Until the Company obtains the capital required to develop any properties or businesses and obtains the revenues needed from its future operations to meet its obligations, the Company will be dependent upon sources other than operating revenues to meet its operating and capital needs. Operating revenues may never satisfy these needs. Until the capital is obtained to enter into its planned operations discussed above, the Company will need additional capital.



In May 2004, we formed a new subsidiary, PNC LABS, Inc. to enter into the Nutraceutical arena. PNC LABS, INC., is a nutritional supplements company serving the preventive and alternative healthcare segments, and looking toexpand through an acquisition with organic growth strategy. The company is selectively evaluating niche companies in order to provide quality nutraceuticals to consumers. The company further plans to be fully integrated in manufacturing, distribution and marketing. PNC LABS is targeting companies with less than $5 million in annual sales.



On or about August 7, 2004, our subsidiary, PNC Labs, entered into a letter of intent to purchase Nutrlife, a nutraceutical company and the Company placed $15,000 into escrow as a deposit for such company. On August 23, 2004, after conducting due diligence, there was a mutual agreement by the parties not to enter into a definitive agreement and the deposit was converted into a product development fee.







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The Company has decided to use the $15,000 for the development of 5 nutraceutical products. Those products categories were: weight loss, glucose stable, pro-gain (high calorie for athletes), a greens in a tube formula (aconcentrated formula for taking vegetables in one day all in a tube), and a energy replacement drink. The products are currently being tested for its shelf life. When our formulator feels comfortable for deployment of the finalproduct(s), packaging and design will be finalized. A combination of internet sales and traditional sales to various accounts including but not limited to: health clubs, health food stores, vitamin shops, etc.



On or about September 13, 2004, PNC LABS, INC. entered into a sales and distribution agreement with Preventive Nutrient, Inc. (Preventive) to distribute its products which stimulate healthy glucose metabolism. Its two products, Cylo-Z and Pro-Z, are a supplements targeting diabetics. PNC is currently evaluating private label opportunities for these products as well.



Diabetes is a loose term that defines anyone who has a condition where they are unable to process glucose correctly, either from lack of enough insulin, or the inability for the body to use the stored glucose. The number of diabeticpatients in the United State is estimated to reach 30 million by the year of 2005. More than 33 % of the US populations older than age 60 are diabetic. More than 67 % of US populations are either overweight or obese. According to the recent publication by Center for Disease Control, the incidence of diabetes increased about 50% and lifetime risk of developing diabetes for individuals born in 2000 are 32.8% for males and 38.5 % for females. Currently, about 1 million Americans are type 1 (juvenile diabetes) and 17 millions are type 2 diabetes (adult onset diabetes)(2). Advancing healthcare seeks a substantial increase in the longevity of people, and along with it, concerns
about the quality of life. Diabetes as well as other health issues will only increase with time. Insulin and oral agents have blood glucose lowering effects. Insulin is necessary for patients with juvenile diabetes or severe adult onset diabetes. Eventually, those diabetic patients develop blindness, kidney failure, and amputation. In the U.S. alone, medical expenses from diabetes complications are over $100 billion annually. Thus, medical expenses from diabetes treatment lead all other medical bills.



Through PNC Labs, we hope to acquire or distribute several more product lines that can be sold through our own sales channels or future marketing, distribution and sales joint ventures/partnerships.



We have also identified several opportunities outside of the nutraceutical field in which we feel a business combination would be advantageous to the Company. Although no definitive agreements have been signed as of the filing of this document, we feel confident that another business combination will transpire in 2005.



If the Company is successful in acquiring the operations and capital sought, we expect that these operations would provide the revenues and cash flows the Company is seeking to continue in existence.



ITEM 3.     
CONTROLS AND PROCEDURES




(a)
Evaluation of disclosure controls and procedures.

Our Chief Executive Officer and Chief Financial Officer (collectively the Certifying Officers) maintain a system of disclosure controls and procedures that is designed to provide reasonable assurance that information, which is required to be disclosed, is accumulated and communicated to management timely. Under the supervision and with the participation of management, the Certifying Officers evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule [13a-14(c)/15d-14(c)] under the Exchange Act) within 90 days prior to the filing date of this report. Based upon that evaluation, the Certifying Officers concluded that ourdisclosure controls and procedures are effective in timely alerting them to material information relative to our company required to be disclosed in our periodic filings with the SEC.



(b)
Changes in internal controls.

Our Certifying Officers have indicated that there were no significant changes in our internal controls or other factors that could significantly affect such controls subsequent to the date of their evaluation, and there were no such control actions with regard to significant deficiencies and material weaknesses.







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PART II - OTHER INFORMATION



Item 1.
Legal Proceedings

The Company was sued in connection with its acquisition of Silver Valley Energy (SVE) and in October 2000 the Company received a default judgment against it in the amount of $960,000. CHC, currently a related party based on the stock issued in the settlement agreement, negotiated and bought out and paid off SVE. The Company then negotiated a settlement with CHC on September 2, 2003. The terms of the settlement were that the company issued a two hundred thousand dollar promissory note for a period of one year with an interest rate of seven percent and issued four million shares of its restricted common stock. Additionally, the company appointed two nominees to its Board of Directors. These actions effectively removed $960,000 out of accrual for judgments, litigation and contingencies and replaced it with $200,000 notes payable to related party, both recognized as current liabilities.



The former Chief Executive Officer of BidInvite, Inc has sued the Company. The lawsuit is filed in the Superior Court of the State of Delaware, Sussex County, entitled David Venables v Unico, Inc. and BidInvite.com, Inc., Case No OOC-11-015 THG. The case is a claim for unpaid wages and breach of contract. On December 12, 2000 Venables obtained a judgment by default (for failure to respond to the Complaint) against Unico,Inc. and BidInvite. The amount of the judgment is $1,360,000. Harquest, a corporation owned by Allen NG purchased all rights to the judgment from Mr. Venables and Mr. Ng then acquired the rights to the judgment from Harquest. Based on the Companys limited operations and cash flow, Mr. Ng agreed to accept the Companys offer of one hundred thousand shares of restricted common stock in order to settle the judgment. On October 15, 2004, the Company entered into a Settlement
Agreement and Release with Allen Ng whereby it issued 100,000 shares of restricted common stock to Mr. Ng in full satisfaction of the judgment.



NexGen has alleged that the Company is in default with respect to its $200,000 note payable issued in connection with its acquisition of The Independent News. At December 31, 2000 $156,000 remains unpaid. At December 31, 2001 the $156,000 remaining unpaid was written off to $ -0- as management believes that certain financial misrepresentations were made in connection with its acquisition of The Independent News. Nothing has been heard from NexGen lately. Legal Counsel indicates it does not appear likely that NexGen will be taking any affirmative

action.



The Company is also named in a lawsuit against Independent News (now defunct) for bills due and owing apparently for the printing of the prior Independent News. Legal counsel indicates that Independent News, now defunct, would not pay it and that it would be difficult, if not impossible, for the plaintiff to show liability on behalf of the Company (Unico) as a separate operating corporate entity to be responsible for the bills and obligations of the Independent News.



Management estimates that the costs to settle these remaining judgments and lawsuits for the Company should be minimal. Accordingly, no accrual for litigation and judgments is recognized in the Companys financial statements at March 31, 2005.



Item 2.
Change of Securities

No shares were issued in the first quarter of 2005.



Item 3.
Defaults Upon Senior Securities.

None



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

None



Item 5.
Other information.

None.



Item 6.
Exhibits and reports on Form 8-K.

None.





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SIGNATURES



Pursuant to the requirements of section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed in its behalf by the undersigned, thereunto duly authorized, on May 6, 2005.



NT Holding Corp.

Registrant



/s/ Alan Lew

Alan Lew

CEO, CFO and Director











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