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  [  ] TRANSITION
REPORT UNDER SECTION 13 OR 15 ( d ) OF THE EXCHANGE ACT  For the transition period from
____________ to____________  Commission File No. 000-49655   LIPIDVIRO TECH, INC. (Exact name of Registrant as specified in
its charter)  Nevada
87-0678927(State or Other Jurisdiction of
(I.R.S. Employer Identification No.)incorporation or organization)  1338 S. Foothill Drive, #126 Salt Lake City, Utah  84108 (Address of Principal Executive Offices)  (801) 583-9900 (Registrants telephone number, including
area code)  N/A (Former name, former address and former
fiscal year, if changed since last report)  Indicate by check mark whether the
Registrant has (1) filed all reports required to be filed by Section 13 or 15(d)
of the Securities Exchange Act of 1934 (the Exchange Act) during the preceding
12 months (or for such shorter period that the Registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days. Yes [X] No [  ]  Indicate by check mark whether the
Registrant is a large accelerated filer, an accelerated filer, a non-accelerated
filer, or a smaller reporting company.  See definition of large
accelerated filer, accelerated filer and smaller reporting company in Rule
12b-2 of the Exchange Act.  (Check one):  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 [  ] No [X]  APPLICABLE ONLY TO ISSUERS INVOLVED IN
BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE
YEARS  1     Indicate by check mark whether the
registrant has filed all documents and reports required to be filed by Sections
12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court.  Not applicable.  APPLICABLE ONLY TO CORPORATE ISSUERS  Indicate the number of shares outstanding of each of the
Registrants classes of common stock, as of the latest practicable date:
 May 14, 2008 - 18,064,830 shares of common stock.  PART I   Item 1.  Financial Statements  The Financial Statements of the Registrant
required to be filed with this 10-Q Quarterly Report were prepared by management
and commence below, together with related notes. In the opinion of management,
the Financial Statements fairly present the financial condition of the
Registrant.            LIPIDVIRO TECH, INC. AND SUBSIDIARY (A Development Stage Company) MARCH 31, 2008 CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS  2       TABLE OF CONTENTS  PAGE   Unaudited Condensed Consolidated
Balance Sheets, March
31, 2008 and December 31, 2007 4    Unaudited Condensed Consolidated
Statements of Operations, for the three
months ended March 31, 2008 and 2007 and for the period from
inception on May 6, 2003
through March 31, 2008 5    Unaudited Condensed Consolidated
Statements of Cash Flows, for the three
months ended March 31, 2008 and 2007 and for the period from
inception on May 6, 2003
through March 31, 2008 6    Notes
to Unaudited Condensed Consolidated Financial Statements 8 - 11  3


LIPIDVIRO TECH,
INC. AND SUBSIDIARY (A Development Stage Company) UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS   ASSETS March 31, 2008

December 31, 2007CURRENT ASSETS:Cash
$
63

$
46Total
Current Assets

63


46PROPERTY AND EQUIPMENT, net

560


747OTHER ASSETS:Definite-life intangible
assets

34,637


34,637Goodwill

290,317


290,317TOTAL
ASSETS
$
325,577

$
325,747LIABILITIES AND STOCKHOLDERS
(DEFICIT)CURRENT LIABILITIES:Accounts
payable
$
298,152

$
275,364Related party
loans

699,068


686,124Total
Current Liabilities

997,220


961,488LONG-TERM LIABILITIES:Related party accrued
interest

75,021


67,562Related party note
payable

600,000


600,000Total
Liabilities

1,672,241


1,629,050STOCKHOLDERS (DEFICIT)Common Stock, $.001 par value,
150,000,000 shares authorized, 18,274,525
shares
issued and outstanding

18,275


18,275Capital in excess of
par value

3,837,897


3,770,672Deficit accumulated
during the development stage

(5,202,836)


(5,092,250)Total
Stockholders (Deficit)

(1,346,664)


(1,303,303)TOTAL
LIABILITIES AND STOCKHOLDERS' (DEFICIT)
$
325,577

$
325,747       The accompanying notes are an integral part
of these financial statements.


4


LIPIDVIRO TECH, INC. AND SUBSIDIARY (A Development Stage Company) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS  For the Three Months Ended
March 31,

For the Period From Inception On May
6, 2003 through
March 31,2008

2007

2008REVENUE
$
-
$
-
$
-OPERATING EXPENSES:Consulting

-

306,500

563,661Employee compensation

13,437

40,311

322,598Other general and administrative

29,131

30,008

432,394Research and development

52,972

67,716

2,350,201Total Operating
Expenses

95,540

444,535

3,668,854OPERATING LOSS

(95,540)

(444,535)

(3,668,854)OTHER INCOME (EXPENSE):Interest income

-

-

23Foreign currency transaction loss

(106)

(16)

(283)Related party interest expense

(14,940)

(59,069)

(1,533,722)Total other Income
(Expense)

(15,046)

(59,085)

(1,533,982)LOSS BEFORE INCOME TAX PROVISION

(110,586)

(503,620)

(5,202,836)PROVISION FOR INCOME TAXES

-

-

-NET INCOME (LOSS)
$
(110,586)
$
(503,620)
$
(5,202,836)BASIC AND DILUTED LOSS PER SHARE
$
(0.01)
$
(0.03)WEIGHTED AVERAGE SHARES OUTSTANDING

18,237,025

17,617,018     The accompanying notes are an integral part
of these financial statements.


5


LIPIDVIRO TECH,
INC. AND SUBSIDIARY (A Development Stage Company) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS  For the Three Months Ended
March 31,

For the Period From Inception On May
6, 2003 through
March 31,2008

2007

2008CASH FLOWS FROM OPERATING ACTIVITIES:Net income (loss)
$
(110,586)
$
(503,620)
$
(5,202,836)Adjustments to reconcile net income (loss) to net
cash used by operating activities:Depreciation

187

184

3,115Expense costs related to unsuccessful
financing
transaction

-

-

31,900Imputed interest expense

-

-

42,377Noncash expenses paid by a
shareholder

-

-

6,900Noncash expenses paid by issuance of
common stock

-

44,308

1,346,919Noncash services paid by issuance of
common stock

41,813

352,648

1,191,039Noncash services paid by grant of
warrants

24,340

51,214

1,449,792Net (increase) decrease in operating
assets:Retainer

-

10,000

-Net increase (decrease) in operating
liabilities:Accounts
payable

22,788

2,675

297,147Related party loans -
interest

7,481

7,364

70,155Related party accrued
interest

7,459

7,397

75,021Net Cash (Used) by
Operating Activities

(6,518)

(27,830)

(688,471)CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for property and
equipment

-

-

(3,675)Payments for definite-life intangible
assets

-

-

(33,632)Payments for goodwill

-

-

(269,006)Net Cash (Used) by
Investing Activities

-

-

(306,313)CASH FLOWS FROM FINANCING ACTIVITIES:Proceeds from related party
loans

5,463

26,545

637,612Payments on related party loans

-

-

(8,700)Proceeds from capital
contributions

1,072

6,730

33,725Proceeds from common stock
issuances

-

-

293,700Proceeds from sale of warrants

-

-

38,510Net Cash Provided by
Financing Activities

6,535

33,275

994,847  (Continued)


6


LIPIDVIRO TECH, INC. AND SUBSIDIARY (A Development Stage Company) UNADUITED CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS (Continued) For the Three Months Ended
March 31,

For the Period From Inception On May
6, 2003 through
March 31,2008

2007

2009NET INCREASE (DECREASE) IN CASH

17

5,445

63CASH AT BEGINNING OF PERIOD

46

236

-CASH AT END OF PERIOD
$
63
$
5,681
$
63SUPPLEMENTAL DISCLOSURES OF CASH FLOW
INFORMATION:
Cash paid during the period for:Interest
$
-
$
-
$
-Income Taxes
$
-
$
-
$
-SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND
FINANCING ACTIVITIES:Definite-life intangible asset fees accrued in
accounts payable
$
-
$
-
$
1,005Deferred financing costs paid  through
issuance of common stock
$
-
$
-
$
31,900Common stock repurchased through issuance of
$600,000 note payable and $1 paid by a shareholder
$
-
$
-
$
600,001Common stock issued to purchase  minority
interest
$
-
$
-
$
21,311   The accompanying notes are an integral part
of these financial statements.


7


LIPIDVIRO TECH, INC. AND SUBSIDIARY (A Development Stage Company) NOTES TO THE UNAUDITED CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS  NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  The accompanying financial statements have been prepared
by the Company in accordance with Article 8 of U.S. Securities and Exchange
Commission Regulation S-X.  In the opinion of management, all adjustments
(which include only normal recurring adjustments) necessary to present fairly
the financial position, results of operations and cash flows at March 31, 2008
and 2007 and for the periods then ended have been made.  Certain
information and footnote disclosures normally included in financial statements
prepared in accordance with U.S. generally accepted accounting principles have
been condensed or omitted.  It is suggested that these condensed financial
statements be read in conjunction with the financial statements and notes
thereto included in the Company's December 31, 2007 audited financial
statements.  The results of operations for the periods ended March 31, 2008
and 2007 are not necessarily indicative of the operating results for the full
year.  NOTE 2 - GOING CONCERN  The Companys financial statements have been presented on
the basis that they are a going concern, which contemplates the realization of
assets and the satisfaction of liabilities in the normal course of business.
 At March 31, 2008, the Company had incurred losses since inception, had
not yet generated any revenues, and had current liabilities in excess of current
assets.  These factors create an uncertainty about the Companys ability to
continue as a going concern.  In this regard, management is proposing to
raise any necessary additional funds not provided by operations through loans or
through additional sales of common stock.  There is no assurance that the
Company will be successful in raising this additional capital or in achieving
profitable operations.  The financial statements do not include any
adjustments that might be necessary if the Company is unable to continue as a
going concern.  NOTE 3  PENDING SALE OF RESEARCH ASSETS  On January 3, 2008, for consideration of $100 the Company
granted a 60-day option to AcquiSci, Inc. (a New Jersey corporation) to purchase
the Companys research subject to the terms of a Purchase Agreement.  The
Purchase Agreement calls for AcquiSci, Inc., its shareholders, and their related
entities to return all their Company stock and warrants (expected to be 911,793
shares of common stock, 570,000 Class A warrants, and 560,000 Class B warrants),
release the Company from all existing debts owed to them (totaling $284,719 as
of March 31, 2008), and pay $1 in exchange for all of the Companys research
including all the Companys pending patent applications.  In January 2008,
AcquiSci, Inc. exercised its option but the Purchase Agreement has not yet
closed.  NOTE 4 - RELATED PARTY TRANSACTIONS  Related Party Loans - During the three months ended March
31, 2008, shareholders or entities related to them loaned $5,463 to the Company.
 At March 31, 2008, the Company owes a total of $699,068 to the related
parties with $509,353 of the loans due when funds are available and the other
$189,715 of the loans were due October 1, 2007, were in default as of March 31,
2008, and are expected to be paid subsequently through the disposition of the
Companys research (See Note 3).  During the three months ended March 31,
2008 and 2007, the Company accrued interest expense on related party loans
totaling $7,481 and $7,364, respectively.


8


LIPIDVIRO TECH,
INC. AND SUBSIDIARY (A Development Stage Company) NOTES TO THE UNAUDITED CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS  NOTE 4 - RELATED PARTY TRANSACTIONS (Continued)  Note Payable  During the three months ended March 31,
2008 and 2007, interest expense on the note payable amounted to $7,459 and
$7,397, respectively.  Capital contributions  During the three months ended
March 31, 2008, a shareholder of the Company contributed cash and made payments
on behalf of the Company totaling $1,072.  NOTE 5 - PROPERTY AND EQUIPMENT  Estimated Useful Lives
March 31, 2008Office Equipment
5 years
$
               433Website
5 years
$
            3,2423,675Less accumulated depreciation

(3,115)Net Property and Equipment

$
               560  Depreciation expense for the three months ended March 31,
2008 and 2007 was $187 and $184, respectively.  NOTE 6 - COMMON STOCK, OPTIONS, AND WARRANTS  Warrant Vesting  Of the 42,083 warrants unvested at
December 31, 2007, 14,583 Class A warrants and 12,500 Class B warrants vested
during the three months ended March 31, 2008.  Share-Based Payment Disclosures - During the three months
ended March 31, 2008 and 2007, share-based payments resulted in expenses of
$66,153 and $448,170, respectively.  A summary of warrant activity as of March 31, 2008 and
changes during the three months then ended is presented below:  Warrants
Shares
Weighted-Average Exercise Price
Weigthed-Average Remaining Contractual
Term (Years)
Aggregate Intrinsic ValueOutstanding at December 31, 2007
28,555,000
$   1.06Granted
-
-Exercised
-
-Forfeited
-
-Expired
-
-Outstanding at March 31, 2008
28,555,000
$   1.06
.25
$
              -Exercisable at March 31, 2008
28,540,000
$   1.06
.25
$
              -


9


LIPIDVIRO TECH,
INC. AND SUBSIDIARY (A Development Stage Company) NOTES TO THE UNAUDITED CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS  NOTE 6 - COMMON STOCK, OPTIONS, AND WARRANTS
(Continued)  A summary of the status of the non-vested shares as of
March 31, 2008 and changes during the three months then ended is presented
below: Non-vested Shares
Shares
Weighted-Average Grant-Date Fair
ValueNon-vested at December 31, 2007
68,750
$1.32Granted
-
-Vested
(31,250)
1.34Forfeited
-
-Non-vested at March 31, 2008
37,500
$1.30  As of March 31, 2008, there was $61,356 of total
unrecognized expense related to non-vested share-based payments.  That cost
is expected to be recognized over a weighted-average period of 0.2 years.
 The total fair value of shares vested during the three months ended March
31, 2008 was $41,813.  NOTE 7  FOREIGN CURRENCY TRANSACTION  During the three months ended March 31, 2008, the Company
recorded a foreign currency transaction loss of $106 due to the change in the
exchange rate.  NOTE 8 - INCOME TAXES  At March 31, 2008, the Company has net operating loss
carryovers of approximately $396,500 available to offset future taxable income
and expiring beginning in 2023 through 2028.  Due to a change in control of
the Company in January 2008, the net operating loss carryovers will be subject
to an annual limitation of approximately $19,800.  The income tax provision
differs from the amounts that would be obtained by applying federal and state
statutory income tax rates to loss before income tax provision as follows:  For the Three Months Ended
March 31,

For the Period From Inception On May
6, 2003 through
March 31,2008

2007

2008Loss before income tax provision
$
(110,586)
$
(503,620)
$
(5,202,836)Expected combined federal and state income tax
rate

20.0%

20.0%

20.0%Expected income tax expense (benefit) at statutory
rates

(22,117)

(100,724)

(1,040,567)Federal benefit of state taxes

829

3,777

39,021Tax effect of:Change in control limitation

163,568

-

163,568Meals and entertainment

-

-

82Change in valuation allowance

(142,280)

96,947

837,896Net income tax expense (benefit)
$
-
$
-
$
-


10


LIPIDVIRO TECH,
INC. AND SUBSIDIARY (A Development Stage Company) NOTES TO THE UNAUDITIED CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS  NOTE 8 - INCOME TAXES (Continued)  The Companys deferred tax assets, deferred tax
liabilities, and valuation allowance are as follows: March 31,
2008Deferred tax assets:Organization costs
$
2Research and development equipment

842Share-based payments

767,476Net operating loss carryovers

76,338Total deferred tax assets
$
844,658Deferred tax liabilities:Patent application costs
$
6,668Depreciation

94Total deferred tax liabilities
$
6,762Total deferred tax assets
$
844,658Total deferred tax liabilities

(6,762)Valuation allowance

(837,896)Net deferred tax asset (liability)
$
-  NOTE 9  COMMITMENTS  In June 2007, the Company signed an agreement with a
consultant to arrange financing for the Company.  If successful, the
Company will pay between 10% and 17% of the proceeds to the consultant.  If
the Company does not accept a financing transaction arranged by the consultant,
then the Company may have to pay $5,000 per month for services under the
agreement up to $60,000.  In February 2007, a vendor obtained a $16,166 default
judgment against the Company for an unpaid invoice.  The judgment provides
for interest at an annual rate of 6.36%.  At March 31, 2008, the Company
owed $17,301 on the judgment and the amount has been included in accounts
payable.


11


Item 2. Managements Discussions and
Analysis of Financial Condition and Results of Operations.  Forward-looking Statements  Statements made in this Quarterly Report which are not
purely historical are forward-looking statements with respect to the goals, plan
objectives, intentions, expectations, financial condition, results of
operations, future performance and our business, including, without limitation,
(i) our ability to raise capital, and (ii) statements preceded by, followed by
or that include the words may, would, could, should, expects,
projects, anticipates, believes, estimates, plans, intends,
targets or similar expressions.  Forward-looking statements involve inherent risks and
uncertainties, and important factors (many of which are beyond our control) that
could cause actual results to differ materially from those set forth in the
forward-looking statements, including the following, general economic or
industry conditions, nationally and/or in the communities in which we may
conduct business, changes in the interest rate environment, legislation or
regulatory requirements, conditions of the securities markets, our ability to
raise capital, changes in accounting principles, policies or guidelines,
financial or political instability, acts of war or terrorism, other economic,
competitive, governmental, regulatory and technical factors affecting our
current or potential business and related matters.  Accordingly, results actually achieved may differ
materially from expected results in these statements.  Forward-looking
statements speak only as of the date they are made.  We do not undertake,
and specifically disclaim, any obligation to update any forward-looking
statements to reflect events or circumstances occurring after the date of such
statements.  Plan of Operation  Disposition of the Technology.  Due to our lack of funding to further our business plan,
on January 3, 2008, our wholly-owned subsidiary, LipidViro Tech, Inc., a Utah
corporation (LipidViro Utah) entered into an Option Agreement by which it
granted to AcquiSci, Inc., a New Jersey corporation the option to purchase
certain technology owned by LipidViro Utah, which comprises substantially all of
its assets (the Technology).  AcquiSci has exercised its option and we
expect that the closing of the sale of the Technology will take place in the
second quarter of 2008, subject to compliance with applicable federal and state
laws and regulations.  Following the completion of the Technology sale, we
will no longer be engaged in the biotechnology industry.  Our plan of operation for the next 12 months is to: (i)
consider guidelines of industries in which we may have an interest;(ii) adopt a
business plan regarding engaging in the business of any selected industry; and
(iii) to commence such operations through funding and/or the acquisition of a
going concern engaged in any industry selected.  During the next 12 months, our only foreseeable cash
requirements will relate to maintaining our good standing; the payment of our
Securities and Exchange Commission and Exchange Act reporting filing expenses,
including associated legal and accounting fees; costs incident to reviewing or
investigating any potential business venture; and maintaining our good standing
as a corporation in our state of organization.  We anticipate that these
funds will be provided to us in the form of loans from Jenson Services.
 There are no written agreements requiring Jenson Services to provide these
cash resources; and to the extent funds are provided, such funds will bear no
interest (though an interest expense of 10% has been imputed on funds advanced)
and will be due on demand.  As of the date of this Quarterly Report, we
have not actively begun to seek any business or acquisition candidate.  Results of Operations  During the quarters ended March 31, 2008, and 2007, we
had losses of $110,586 and $503,620, respectively.  Liquidity  We have $63 in current cash resources.  During the next 12 months, our only
foreseeable cash requirements will relate to maintaining our good standing in
the State of Nevada.  We do not have any cash reserves to pay for our
administrative expenses for the next 12 months.  In the event


12


that additional
funding is required in order to keep us in good standing, we may attempt to
raise such funding through loans or through additional sales of our common
stock.    Item 3.  Quantitative and
Qualitative Disclosures About Market Risk.  Not required.  Item 4T.  Controls and Procedures.  Evaluation of disclosure controls and procedures  Our management, with the participation of our chief
executive officer and chief financial officer, evaluated the effectiveness of
our disclosure controls and procedures as defined in Rule 13a-15(e) under the
Exchange Act as of the end of the period covered by this Quarterly Report on
Form 10-Q.  In designing and evaluating the disclosure controls and
procedures, our management recognized that any controls and procedures, no
matter how well designed and operated, can provide only reasonable assurance of
achieving the desired control objectives.  In addition, the design of
disclosure controls and procedures must reflect the fact that there are resource
constraints and that management is required to apply its judgment in evaluating
the benefits of possible controls and procedures relative to their costs.
 The design of any disclosure controls and procedures also is based in part
upon certain assumptions about the likelihood of future events and there can be
no assurance that any design will succeed in achieving its stated goals under
all potential future conditions.  Based on that evaluation, our chief executive officer and
chief financial officer concluded that, as of March 31, 2008, our disclosure
controls and procedures were, subject to the limitations noted above, effective
to provide reasonable assurance that information we are required to disclose in
reports that we file or submit under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in Securities and
Exchange Commission rules, regulations and forms, and that such information is
accumulated and communicated to our management, including our chief executive
officer and chief financial officer, as appropriate, to allow timely decisions
regarding required disclosure.  Changes in internal control over financial reporting  Our management, with the participation of
the chief executive officer and chief financial officer, has concluded there
were no significant changes in our internal controls over financial reporting
that occurred during our last fiscal quarter that has materially affected, or is
reasonably likely to materially affect, our internal control over financial
reporting.  PART II - OTHER INFORMATION   Item 1. Legal Proceedings.  In February 2007, Friedrich and
Dimmock, Inc., a vendor, obtained a $16,166 default judgment against the Company
for an unpaid invoice.  The judgment provides for interest at an annual
rate of 6.36%.  At March 31, 2008, the Company owed $17,301 on the judgment
and the amount has been included in accounts payable.  Item 1A.  Risk
Factors.  Not required.   Item 2. Unregistered Sales of Equity Securities and
Use of Proceeds.  None; not applicable.   Item 3. Defaults Upon Senior Securities.  None; not applicable.   Item 4. Submission of Matters to a Vote of Security
Holders.  None; not applicable.


13


Item 5. Other Information.   None; not applicable.  Item 6. Exhibits.   Exhibit No.                       Identification
of Exhibit  31

32
Certification Pursuant to Section 302 of the
Sarbanes-Oxley Act provided by Kenneth Hamik.

Certification Pursuant to 18 U.S.C. Section 1350,
as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
provided by Kenneth Hamik.    SIGNATURES  Pursuant to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly authorized  LIPIDVIRO TECH, INC.  Date:
May 15, 2008

By:
/s/Kenneth P. HamikKenneth P. Hamik, President, Chief Executive
Officer and DirectorDate:
May 15, 2008

By:
/s/Steven KeyserSteven Keyser, Director


14