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

                                   FORM 10-QSB

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

                For the quarterly period ended September 30, 2005

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

                 For the transition period from _____ to _______

                        Commission file number: 000-30065

             INTREPID TECHNOLOGY & RESOURCES, INC., AND SUBSIDIARIES
             -------------------------------------------------------
             (exact name of registrant as specified in its charter)

IDAHO                                                                 82-0230842

(State or other jurisdiction of                                    (IRS Employer
incorporation or organization)                               Identification No.)



                          501 West Broadway, Suite 200,
                            Idaho Falls, Idaho 82304
                    (Address of principal executive offices)

                                 (208) 529-5337
                           (Issuer's telephone number)

                                      IDAHO
                                      -----
         (State or other jurisdiction of incorporation or organization)
               Registrant'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.

Yes  [X]  No  [_]

State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of  the  last  practicable  date:
162,416,766  shares  of common stock, $0.005 par value per share, as of November
10, 2005.

Transitional Small Business Disclosure Format (check one): Yes [_] No [X]


<PAGE>
<TABLE>
<CAPTION>
TABLE OF CONTENTS

                      PART I - FINANCIAL INFORMATION


Item   1.                 Financial Statements
<S>   <C>  <C>                                                  <C>
           Balance Sheets . . . . . . . . . . . . . . . . . . .  3
           Statements of Operations . . . . . . . . . . . . . .  4
           Statements of Cash Flows . . . . . . . . . . . . . .  5
           Notes to Unaudited Financial Statements. . . . . . .  6

Item   2.  Management's Discussion and Analysis . . . . . . . . 11
           Results of Operations. . . . . . . . . . . . . . . . 11
           Capital Requirements . . . . . . . . . . . . . . . . 14
Item   3.  Controls and Procedures. . . . . . . . . . . . . . . 17

                         PART II - OTHER INFORMATION

Item   1.  Legal Proceedings. . . . . . . . . . . . . . . . . . 19
Item   2.  Changes in Securities. . . . . . . . . . . . . . . . 19
Item   3.  Defaults Upon Senior Securities. . . . . . . . . . . 19
Item   4.  Submission of Matters to a Vote of Security Holders  19
Item   5.  Other Information. . . . . . . . . . . . . . . . . . 19
Item   6.  Exhibits . . . . . . . . . . . . . . . . . . . . . . 19
           Signature Page . . . . . . . . . . . . . . . . . . . 20
           Certifications . . . . . . . . . . . . . . . . . . . 21
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
                                       PART I.  FINANCIAL INFORMATION

ITEM  1.  FINANCIAL  STATEMENTS


                                    INTREPID TECHNOLOGY & RESOURCES, INC.
                                        CONSOLIDATED BALANCE SHEETS


                                                                               SEPTEMBER 30,     JUNE 30,
                                                                                   2005            2005
                                                                                 UNAUDITED       AUDITED
                                                                              ---------------  ------------
<S>                                                                           <C>              <C>
ASSETS
Current Assets:
  Cash                                                                        $      176,990   $    65,737
  Accounts receivable, net                                                            61,906        98,434
   Prepaid expenses                                                                   81,482        85,639
  Other assets                                                                         1,200         1,600
                                                                              ---------------  ------------
Total current assets                                                                 321,578       251,410

Property, plant and equipment, net                                                   963,148       952,742
                                                                              ---------------  ------------
Total Assets                                                                  $    1,284,726   $ 1,204,152
                                                                              ===============  ============

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
  Accounts payable                                                            $       92,551   $   148,419
  Accrued liabilities                                                                265,408       258,627
  Related party notes payable                                                         60,613        60,613
  Current portion of long-term debt                                                  357,948       382,948
                                                                              ---------------  ------------
Total current liabilities                                                            776,520       850,607

Long term debt                                                                       680,779       830,317
                                                                              ---------------  ------------
    Total liabilities                                                              1,457,319     1,680,924
Commitments and contingencies
Shareholders' deficit:
Preferred stock, $1 par value; 5,000,000 shares authorized, no shares issued
and outstanding                                                                           --            --
  Common stock, $.005 par value, 350,000,000 shares authorized,
150,708,717 and 137,694,025 shares issued and outstanding, respectively              753,543       688,470
  Additional paid-in capital                                                       5,670,749     4,998,505
  Stock subscription receivable                                                      (16,200)      (16,200)
  Accumulated deficit                                                             (6,580,685)   (6,147,547)
                                                                              ---------------  ------------
Total stockholders' deficit                                                         (172,593)     (476,772)
                                                                              ---------------  ------------

Total liabilities and stockholders' deficit                                   $    1,284,726   $ 1,204,152
                                                                              ===============  ============
<FN>
The accompanying notes are an integral part of these financial statements.
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
                         INTREPID TECHNOLOGY & RESOURCES, INC.
                    UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS


                                                       For the Three Months Ended
                                                              September 30,
                                                         2005               2004
                                                   -----------------  -----------------
<S>                                                <C>                <C>

Revenue                                            $        140,989   $         88,903
Costs of revenue                                             86,247             83,459
                                                   -----------------  -----------------

Gross profit                                                 54,742              5,444

Operating expenses:
  General and administrative expenses                       329,531            236,388
  Research and development                                  107,239                 --
                                                   -----------------  -----------------

    Loss from operations                                   (382,028)          (230,944)

Other income (expense)
  Interest income                                                --                669
  Interest expense                                          (51,110)            (3,150)
  Loss on investment                                             --            (12,743)
                                                   -----------------  -----------------

Loss before provision for income taxes                     (433,138)          (246,168)

Provision for income taxes                                       --                 --
                                                   -----------------  -----------------

Net loss                                           $       (433,138)  $       (246,168)
                                                   =================  =================


Net loss per common share-basic and diluted        $             --   $             --
                                                   =================  =================

Weighted average common shares-basic and diluted        143,982,000        115,023,000
                                                   =================  =================
<FN>
The accompanying notes are an integral part of these financial statements
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
                                     INTREPID TECHNOLOGY & RESOURCES, INC.
                                UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS


                                                                                For the Three Months Ended
                                                                                      September 30,
                                                                                2005               2004
                                                                          -----------------  -----------------
<S>                                                                       <C>                <C>
Cash flows from operating activities:

  Net income (loss)                                                       $       (433,138)  $       (246,168)
    Adjustments to reconcile net loss to net cash provided by  (used by)
    operating activities:
      Stock compensation expense                                                    46,336             85,520
      Depreciation                                                                  13,499              2,737
      Interest expense on debentures                                                 9,480                - -
      Loss on investment                                                                               12,743
(Increase) decrease in:
      Accounts receivable                                                           36,528            114,365
      Prepaid expenses                                                               4,157            (32,545)
      Other assets                                                                     400                 --
Increase (decrease) in:
      Accounts payable                                                             (52,866)            18,291
      Accrued liabilities                                                            9,258             52,101
                                                                          -----------------  -----------------

Net cash provided by (used by) operating activities                               (366,346)             7,044
                                                                          -----------------  -----------------

Cash flows from investing activities:
      Purchases of property and equipment                                          (23,905)          (313,851)
      Investment purchase                                                               --            (17,800)
      Proceeds from sale of investment                                                  --             22,851
                                                                          -----------------  -----------------
Net cash used in investing activities                                              (23,905)          (308,800)
                                                                          -----------------  -----------------

Cash flows from financing activities:
      Proceeds from long-term debt                                                 450,000                 --
      Payments on long-term debt                                                  (483,998)           (13,953)
      Issuance of common stock                                                     565,752            235,797
      Common stock offering costs                                                  (30,250)                --
      Payments received from stock subscription receivable                              --             10,000
                                                                          -----------------  -----------------
Net cash provided by financing activities                                          501,504            231,844
                                                                          -----------------  -----------------

Net increase (decrease ) in cash                                                   111,253            (69,912)
Cash, beginning of period                                                           65,737            134,856
                                                                          -----------------  -----------------
Cash, end of period                                                       $        176,990   $         64,944
                                                                          =================  =================
<FN>
The accompanying notes are an integral part of these financial statements
</TABLE>


<PAGE>
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
---------------------------------------------------

Basis of Presentation
---------------------

The  accompanying unaudited consolidated financial statements have been prepared
in accordance with United States generally accepted accounting principles ("U.S.
GAAP") for interim financial information and with instructions to Form 10-QSB of
Regulation  S-X.  Accordingly,  they  do  not include all of the information and
footnotes  required  by  U.S.  GAAP  for  complete  financial  statements.  The
preparation  of  the  consolidated  financial statements in conformity with U.S.
GAAP  requires  management  to  make  estimates  and assumptions that affect the
amounts  reported  in  the  consolidated  financial  statements and accompanying
notes. Actual results could differ from estimates. In the opinion of management,
all  adjustments,  which  consist of normal and recurring adjustments, necessary
for  fair  presentation have been included. These financial statements should be
read  in conjunction with the financial statements and notes thereto included in
the  Company's  2005  Annual  Report  on Form 10-KSB for the year ended June 30,
2005,  as  filed  with  the  Securities  and  Exchange  Commission.

Stock-Based Compensation
------------------------

The Company has stock-based employee compensation, which is described more fully
in  Note  12  to  the audited financial statements of the Company as of June 30,
2005.  The  Company  accounts  for  this  compensation under the recognition and
measurement  principles  of  APB  Opinion  25,  "Accounting  for Stock Issued to
Employees",  and  related  Interpretations,  and has adopted the disclosure-only
provisions of SFAS 123, "Accounting for Stock-Based Compensation."  Accordingly,
no  compensation  cost  has  been recognized in the financial statements, as all
options  granted had an exercise price equal to or greater than the market value
of  the underlying common stock on the date of grant.  No new stock options were
granted during the three months ended September 30, 2005.

Had compensation cost for the Company's stock option plans been determined based
on  the fair value at the grant date consistent with the provisions of SFAS 123,
the  Company's  net  loss  would  have  been  reduced  to  the pro forma amounts
indicated  below:

<TABLE>
<CAPTION>
                                                                                 Three months ended
                                                                                    September 30,
                                                                                 2005         2004
                                                                              -----------  -----------
<S>                                                                           <C>          <C>
Net loss as reported                                                           ($433,138)   ($246,168)
Deduct:
    Total stock-based employee compensation expense determined
    under fair value based method for all awards, net of related tax effects          --       64,205
                                                                              -----------  -----------
Net loss pro forma                                                             ($433,138)   ($310,373)
                                                                              ===========  ===========
Loss per share:
    Basic and diluted - as reported                                           $       --   $       --
                                                                              ===========  ===========
    Basic and diluted - pro forma                                             $       --   $       --
                                                                              ===========  ===========
</TABLE>


Principles of Consolidation
---------------------------

The  consolidated  financial  statements  include  the  accounts  of ITR and its
wholly-owned  subsidiaries.  All  significant  intercompany  balances  and
transactions  have  been  eliminated.

Reclassifications
-----------------

Certain  accounts  in  the  2004  unaudited  financial  statements  have  been
reclassified  to  conform  with the presentation in the 2005 unaudited financial
statements.


<PAGE>
Note 2 - Going Concern
----------------------

As  of September 30, 2005, the Company has a stockholder's deficit, has incurred
a  loss,  and  has  negative  cash  flows  from operations.  These factors raise
substantial  doubt  about  the Company's ability to continue as a going concern.

Management has engaged an investment banking firm to obtain bond financing under
a  State  of  Idaho approved bond inducement resolution to expand operations and
production  capabilities.  While  activities  continue on schedule for this bond
financing,  there  can be no full assurance that such funds will be available to
the  Company  nor  that  these  efforts  will  be  successful.


Note 3 - Supplemental Cash Flow Information
-------------------------------------------

Actual amounts paid for interest and income taxes are approximately as follows:

<TABLE>
<CAPTION>
                                                          2005   2004
                                                          -----  -----
<S>                                                       <C>    <C>
     Interest expense                                     $1300  2,000
                                                          =====  =====

     Income taxes                                         $  --     --
                                                          =====  =====
</TABLE>

During the three months ended September 30, 2005, the Company:

     -    Issued 203,585 shares of common stock in exchange for accounts payable
          and  accrued  liabilities  of  $5,479.

     -    Issued 2,727,273 shares of common stock in exchange for long-term debt
          of  $150,000.


During  the  three  months  ended  September 30, 2004, the Company issued common
stock in exchange for services, prepaid assets and debt of $85,520.


Note 4 - Standby Equity Distribution Agreement
----------------------------------------------

On  March  10,  2005,  the  Company  entered  into a Standby Equity Distribution
Agreement  (SEDA)  with Cornell Capital Partners, LP (Cornell).  Pursuant to the
SEDA, the Company may, at its discretion, periodically sell to Cornell shares of
common stock for a total purchase price of up to $25 million.  For each share of
common  stock  purchased under the SEDA, Cornell will pay the Company 99% of the
lowest  closing  bid  price of the common stock on the Over-the-Counter Bulletin
Board  or  other  principal market on which the Company's common stock is traded
for the five days immediately following the notice date.  Cornell will retain 5%
of  each  advance  under  the  SEDA.



ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

The  following discussion contains forward-looking statements that involve known
and  unknown  risks  and  uncertainties which may cause actual results in future
periods to differ materially from those indicated herein as a result of a number
of  factors,  including,  but  not  limited  to,  those  set  forth  under Legal
Proceedings, and the discussion below.   When the Company uses words like "may,"
"believes,"  "expects,"  "anticipates," "should," "estimate," "project," "plan,"
their  opposites  and  similar  expressions,  the  Company


<PAGE>
is  making  forward-looking statements. These expressions are most often used in
statements  relating  to  business  plans,  strategies,  anticipated benefits or
projections  about  the  anticipated  revenues, earnings or other aspects of our
operating  results.  We  make these statements in an effort to keep stockholders
and  the  public  informed about our business and have based them on our current
expectations about future events. Such statements should be viewed with caution.
These  statements  are  not guarantees of future performance or events. As noted
elsewhere  in  this  report,  all  phases  of  our  business  are  subject  to
uncertainties,  risks  and  other  influences,  many of which the Company has no
control  over.  Additionally,  any  of  these  factors,  either  alone  or taken
together,  could  have a material adverse effect on the Company and could change
whether  any  forward-looking  statement  ultimately  turns  out to be true. The
Company  undertakes  no  obligation  to publicly release updates or revisions to
these  statements.  The  following discussion should be read in conjunction with
audited  consolidated  financial  statements and the notes filed thereto on Form
10-KSB with the U.S. Securities and Exchange Commission for the year ending June
30,  2005.

RESULTS OF OPERATIONS
---------------------

REVENUE

Revenue  for  the  quarter  ended  September 30, 2005, increased 59% to $140,989
compared  to  $88,903  for  the  same  period  of 2004.    This increase was due
primarily to the recovery from low levels of outside contracting activity in the
earlier  period.  The  Company  intends  to continue to pursue opportunities for
outside  contracting  at  the  Idaho  National  Laboratory  and other government
facilities to the extent that these opportunities do not significantly interfere
with  and  the  Company's  shift to designing and building of biogas facilities.
The Company's current principal focus is on the Biogas fuels facility, for which
revenue  will  be  minimal  until  the  facility  comes on line and is producing
biofuels.  For  biofuels  facilities  that  the  Company designs, constructs and
operates  for  others,  it  is  anticipated that revenue will be recognized more
rapidly,  as  such  services  are  provided.

In  both  three  month periods ending September 30, 2005 and 2004, the Company's
primary  customers  were Idaho National Laboratory ("INL") at Idaho Falls, Idaho
and  Oak  Ridge Associated Universities (ORAU).  INL and ORAU both provided more
than  ten  percent  of  the  total  revenue  recognized  by the Company in those
periods.

DIRECT OPERATING COSTS

Direct  operating costs for the three months ending September 30, 2005 and 2004,
were  $86,247  and  $83,459  respectively,  representing  an  3%  increase.  The
increase  is due to the increased volume of engineering services work and direct
operating  costs  that  paralleled  this  work.  Additionally,  the Company made
further  efforts  to  reduce  direct costs by using less subcontracted services,
eliminating  certain  rental fees, making better use of supplies, and exercising
better  management  of  direct  payroll  costs.

GROSS PROFIT

The  Company  had  a  gross profit of $54,742 in the quarter ended September 30,
2005  compared  to a gross profit of $5,444 for the same quarter in 2004.   This
is primarily due to the major shift of resources into construction and operation
of  the  Company-owned  Whitesides  Biogas  Plant and the design and preliminary
development  of  the  Company-owned  West  Point  Biogas  Plant.

SELLING GENERAL AND ADMINISTRATIVE EXPENSES

For  the  three  months  ended  September  30,  2005, general and administrative
expenses were $329,531 compared to $236,388 for the same quarter ended March 31,
2004.  This  39%  increase  was  the result of increased administrative expenses
beyond those required for the previous engineering services work, adding expense
as the Company increased efforts in expanding the Biogas operations.


<PAGE>
INTEREST  EXPENSE

For  the three months ended September 30, 2005, the Company had interest expense
of  $51,110  compared  to  $3,150 for the same period ending September 30, 2004.
The  interest  expense  was  for  interest paid on the term loan, debentures and
interest  accrued  on  notes  payable  to officers and employees of the Company.
With  the  anticipated bond offering to finance the first two biogas facilities,
interest  expense  is  likely  to  increase  in  future  periods.

NET LOSS

For  the  three  months  ended September 30, 2005, the Company had a net loss of
$433,138  compared  to  net loss of $246,168 for the same period ended September
30,  2004.  In  2004,  the  loss  was  due  to a significant drop in engineering
contract revenue, while the transition to the biofuels business was starting up.
For  2005,  the transition to the new biofuels business accelerated, but revenue
will  not  be  received  until  the  first  facility is online and biogas can be
delivered  to  the  customer.


MANAGEMENT'S PLAN OF OPERATION
------------------------------

Providing  engineering  and  technical  services  has been the primary source of
revenue,  and  hence  the  primary  business  focuses,  in the past. The Company
expects  to  continue  providing such services in the future, but with decreased
emphasis.  In  fiscal  year  2006,  the  Company  will  continue its emphasis on
becoming  a  significant  producer  and  distributor  of  biogas  products  and
facilities.  The  following  discussion  provides an overview of our progress in
making  the  transition from being primarily a provider of engineering services.

The fundamental aspects of the Company's business model are:

     -    Utilize  cutting  edge, but established, technology for the production
          of  biogas  from  large  animal  operations.
     -    Utilize  off-the-shelf  equipment  for  clean-up of the biogas to meet
          pipeline-quality  specifications  and  produce  liquid  products.
     -    Maintain  equity  positions  on  all  biogas  projects
     -    Begin  operations  in  known  territory (Idaho), and expand into other
          western  states  as  resources  allow.
     -    Maintain  relationships with equity and debt capital markets to retain
          the  capability to finance projects, for the Company's ownership or to
          assist  customers.
     -    Market  biogas  products to local gas utilities, industrial users, and
          transportation  users
     -    Team  with experienced companies for the marketing and distribution of
          biogas  products



DEVELOPMENT  PLAN

Over  the  next  four  years,  the  Company plans to place 250,000 head of dairy
cattle  into  biogas  production. The Company will design, construct and operate
these  facilities consistent with the business model parameters described above.

The  centerpiece  of  this  development  plan  is  an  exclusive  geographic and
case-by-case national sub-licensing agreement for anaerobic digestion technology
that  produces  biogas  with  nearly  a 33% higher concentration of methane than
competing processes. This technology has a successful 5-year operational history
and  has  been  demonstrated  with  both  cow  and  swine  waste.


<PAGE>
Our  goal  is  to  become  the  premier fully integrated biogas developer in the
United  States.  Our  approach  is  to  use  superior technology and know-how to
convert manure waste from dairy and feedlot operations into high BTU biogas that
can  be  further processed to produce (1) pipeline quality gas for sale to a gas
utility; (2) combustion gas to fuel boilers for processing materials; (3) liquid
natural  gas  for transportation fuel, peaking, and/or remote community service;
and,  eventually,  (4)  hydrogen  to  energize fuel cells for transportation and
distributed  or  non-distributed energy sources.  Our range of services include:

          -    designing, building, and operating biofuels facilities
          -    performing  value-added  processing  of  raw  biogas and residual
               products  of  digestion  for  various  applications
          -    marketing, transportation and sales of processed gas

ITR  currently  has an operational biogas production plant in Rupert, Idaho that
processes  manure  waste  from  1000 cows.  This plant is a commercial prototype
facility  that can be employed to demonstrate the economic viability of the four
product  lines  listed above.  It has been designed and built with a 4x scale-up
capacity  to  accommodate planned expansion of the dairy on which it is located.
Expansion  of  the  plant will parallel expansion of the dairy and within a year
will  accommodate  4500  cows.  The  primary  current  focus  at the plant is on
producing clean gas for sale to a local gas utility and for providing combustion
gas  for  heating  water  for  dairy  operations.  Efforts  are also underway to
demonstrate  use  of  biogas to provide process heat for a small-scale biodiesel
facility  with  the  objective  of  allowing  for penetration into the biodiesel
market.

The  Development  Plan  involves  discrete  projects  that will ultimately bring
250,000  Magic  Valley  dairy  cows under production to create the "Magic Valley
Biogas  Field"  in  the  Magic  Valley  area  of south-central Idaho.  The first
project will provide facilities and infrastructure to process manure from 50,000
dairy  cows  and  will  be  executed  in  two  distinct  phases:

     Phase I consists of 10,500 cows located on 2 different dairies and
     establishes the west anchor point to the Magic Valley Westside field as
     well as expands the Rupert plant to full capacity. Construction will begin
     in CY 2005 and be complete in CY 2006.

     Phase II consists of 40,000 cows located on 3-5 different dairies
     (depending on outcomes of individual dairymen's current consolidation and
     expansion plans). Construction will be initiated in CY 2006 and conclude in
     CY-2007.

This project will be debt financed through the sale of bonds.  Capital cost will
be  approximately  $35  million,  the first phase of which will be just over $10
million.  These  funds will provide for anaerobic digester plants constructed at
participating  dairies,  gas  conditioning clean-up equipment for processing the
raw  biogas  to  pipeline quality standards, and a supporting gas line gathering
system  to  transport  the  clean gas to the gas utility distribution system.  A
majority  of the costs (approximately 70%) is for construction of the digesters.

This project will provide over 1 billion cubic feet of biogas annually, which,
in turn, will yield over 1 million mcf of clean gas for sale to a local gas
utility.


ADDITIONAL  INFORMATION

The  Company  also  plans  to  increase  sales  and  expand  its engineering and
scientific  services  base via new customer contracts. Revenue generated will be
used  to  meet  cash flow requirements with any excess being used to support and
develop  the  Company's  biofuels  production  initiatives.

At  the  present  time the Company does not anticipate paying dividends, cash or
otherwise,  on its Common Stock in the foreseeable future. Future dividends will
depend  on  earnings,  if  any,  of  the  Company,  its


<PAGE>
financial requirements and other factors. The Company's main focus is now in the
biofuels market, specifically the production of biogas. The Company has made two
acquisitions  for  the  vertical  integration of the business and the ability to
have  a ready available access to sell the gas production into the market place.
The  Company  believes  that  it has also taken the proper steps to sell certain
assets  including the mining and mineral rights of the Garnet mine in Montana to
provide working capital to see the production through to completion. The Company
is  currently  seeking  other  investment  capital  to  support the existing and
ongoing  operations  of  the  Company  and  these  projects.


CAPITAL  RESOURCES  AND  LIQUIDITY

As  the  Company  expands  into  the  biofuels business, it will face continuing
challenges  to finance this growth.  This is particularly true of Phase I of the
Magic  Valley  development  projects  described  above.  To  obtain  the  funds
necessary  to  complete  these  capital assets, the Company is in the process of
obtaining bond financing.  It is anticipated that approximately $10 million will
be  made available for these design and construction efforts.  This debt will be
payable  over  a  15 year period, starting after the anticipated commencement of
full  operations  at these two facilities.  Management believes that these funds
will  be  adequate  to  complete  these  facilities.

In  addition  to  the capital expenditures for these first facilities, financing
resources  are  needed  to  support operations.  The Company has made reasonable
efforts  to meet cash flow demands from ongoing operations but the Company still
may  not  always  be  able to obtain funds under the Standby Equity Distribution
Agreement  (SEDA)  or obtain sufficient amounts to satisfy the Company's working
capital  or  other  capital  needs.  The  Company  finished  the  quarter  ended
September  30,  2005 with cash available of $176,990 compared to $65,737 at June
30,  2005  The  Company  believes  that  it  will  be  necessary  to continue to
supplement  the cash flow from operations with the use of outside resources such
as  investment  capital  by  issuance of debenture notes and stock.  The Company
plans  to use any additional funding to assist in the Biogas production facility
that  is considered construction in progress, a component of Property, plant and
equipment,  net,  on  the  balance  sheet.

As  of  September 30, 2005, the Company had negative working capital of $454,942
compared  to  a  deficit  of $599,197 as of June 30, 2005.  The current ratio at
September 30, 2005 was: 0.41:1 and 0.30:1 at June 30, 2005.  This improvement is
related  to  the  timing  of  funds obtained during the quarter through the SEDA
arrangement.

The  Company  had  a  bank  term  loan with a fixed rate of 5.75% with a balance
$100,473  as  of  September  30,  2005.   The  credit is secured by all business
assets  and  personally  guaranteed  by  the  principals  of the Company.  As of
September  30,  2005,  the loan was in good standing, and as of the date of this
filing the term loan is also in good standing.  The Company also has shareholder
notes  payable  from  certain  officers,  employees  or directors. The notes are
unsecured demand notes. It is not anticipated by the Company that the notes will
be  called  in  the  next  year.  The following are shareholder creditors to the
company:  Mr.  Kenoyer has made two loans to the company and as of September 30,
2005, the total balance due him was $20,325.  The first loan accrues interest at
the  rate  of 10 percent and has a balance of $407.  The second accrues interest
at the rate of 7 percent and has a balance of $19,918.  Mr. Dustin has also made
two loans to the company and as of September 30, 2005, the total balance due him
was  $40,287.  The first loan accrues interest at the rate of 10 percent and has
a  balance  of $9,251.  The second accrues interest at the rate of 7 percent and
has  a  balance  of  $31,036.

During  the  three months ended September 30, 2005, the Company used net cash of
$366,346  for  operating  activities, compared to $7,044 of net cash provided by
operating  activities  for  the  2004  period.  The  increase  of  cash  used by
operating  activities is mainly result of the Company's $433,138 net loss in the
three  month  period  ending  September  30,  2005.

During  the  three  months ended September 30, 2005, the Company used $23,905 in
investing  activities,  primarily  in  adding  equipment  for the initial biogas
generating  facility,  compared  to  $308,800  used  in  the


<PAGE>
year  earlier  period.  In  2004,  the  Company purchased property and equipment
towards  the  Biogas  production.

During  the three months ended September 30, 2005, financing activities provided
$501,504  in  net cash, consisting of $535,502 net of costs from the issuance of
common  stock,  plus  $450,000  additional long-term debt, offset by payments on
long-term  debt of $483,998.  In the comparable period for 2004, the Company had
$231,844  of  net  cash  provided  by  financing  activities, which consisted of
$245,797  in  proceeds  from  stock sales, offset in part by $13,953 payments on
long-term  debt.

Debenture  Debt
---------------

The Company issued convertible debentures to Cornell Capital Partners, LP in the
original  principal  amount  of  $750,000  in  October 2004.  The debentures are
convertible at the holder's option any time up to maturity at a fixed conversion
price  of  $.055  per  share.  The  debentures  are secured by the assets of the
Company.  The  debentures  have  a three-year term and accrue interest at 5% per
year.   At  maturity,  October  14,  2007,  if  not  repaid, the debentures will
automatically convert into shares of common stock at a fixed conversion price of
$.055  per  share.  As  of September 30, 2005 $150,000 of the debenture has been
converted.


Standby  Equity  Distribution  Agreement.
----------------------------------------

The  Company  has  a  Standby  Equity Distribution Agreement (SEDA) with Cornell
Capital  Partners  LP.  Under  this agreement, the Company has issued 12,032,848
shares,  plus  an initial issuance of $500,000 worth of the Company's stock as a
commitment fee for this commitment.  Under this agreement, the Company may issue
stock worth up to $25,000,000, through March 2007.  As of September 30, 2005, an
additional  $24,000,000  was  potentially available under this agreement.  It is
the  Company's  intent to utilize this relationship only to the extent necessary
to  finance the transition of the Company's operations to the biofuels business.

Seasonal Changes  -The Company's operating  revenue is generally not affected by
----------------
seasonal changes.

RECENT ACCOUNTING PRONOUNCEMENTS

Statement of Financial Accounting Standards ("SFAS") No. 151, "Inventory Costs -
an  amendment  of  ARB  No.  43,  Chapter 4", SFAS No. 152, "Accounting for Real
Estate  Time-Sharing  Transactions  - an amendment of FASB Statements No. 66 and
67",  SFAS  No.  153,  "Exchanges  of  Nonmonetary  Assets - an amendment of APB
Opinion  No 29", and SFAS No. 154, "Accounting Changes and Error Corrections - a
replacement  of  APB  Opinion  No.  20  and FASB Statement No. 3", were recently
issued.  SFAS  No  151,  152,  153, and 154 have no current applicability to the
Company  or  their  effect  on  the  financial  statements  would  not have been
significant.

In December 2004, the FASB issued SFAS 123 (revised 2004), "Accounting for Stock
Based  Compensation."  This statement supersedes APB Opinion No. 25, "Accounting
for  Stock  Issued  to Employees."  This revised statement establishes standards
for  the  accounting  of  transactions  in  which an entity exchanges its equity
instruments  for  goods  and  services,  including the grant of stock options to
employees and directors.  The Statement is effective for periods beginning after
June 15, 2005, and will require the Company to recognize compensation cost based
on  the grant date fair value of the equity instruments its awards.  The Company
currently  accounts  for those instruments under the recognition and measurement
principles  of  APB  Opinion 25, including the disclosure-only provisions of the
original  SFAS  123.  Accordingly,  no  compensation  cost  from  issuing equity
instruments  has  been  recognized  in  the Company's financial statements.  The
Company  estimates  that  the  required adoption of SFAS 123 (R) will not have a
negative  impact  on  its  consolidated  financial  statements.


<PAGE>
RISK  FACTORS

The  Company's  current  and  primary  focus is obtaining permits and developing
favorable  properties  for  alternative  and  renewable  energy  production, and
providing the associated engineering design and construction management services
required  to  support  the construction and operation of related facilities, and
cannot  provide  any  guarantees of profitability at this time. The Company will
continue  to expand its engineering services base, "work for others" to generate
additional  revenue  to  augment  working capital requirements in support of its
alternative  and  renewable  energy  efforts.  The  realization  of  profits  is
dependent  upon  successful  execution  of  new  business  opportunities and the
development  of  prototype  digester  models  and implementation of the digester
project  for  renewable  energy.  The  Company is dependent upon inducing larger
companies  or  private  investors  to  purchase  these  "turn-key"  alternative
renewable  energy  generation  and  production  facilities.  These projects when
developed  and depending on their success will be the future of the Company. The
Company  may  not  be  successful  in  these  efforts.

Our  operating  results  are  difficult  to predict in advance and may fluctuate
significantly,  and  a  failure  to  meet  the  expectations  of analysts or our
stockholders  would  likely  result in a substantial decline in our stock price.

Factors that are likely to cause our results to fluctuate include the following:

-  the  amount  and  timing  of our operating expenses and capital expenditures;
-  the  success  or  failure  of  the  alternative  energy and biofuels projects
currently  underway;
-  the  timing,  rescheduling  or  cancellation  of  engineering customer's work
orders;
-  our  ability to specify, develop, complete, introduce and market biofuels and
bring  them  to  volume  production  in  a  timely  manner;
-  the  rate  of adoption and acceptance of new industry standards in our target
markets;
-  any other unforeseen activities or issues.

There  is  a  limited  public  market  for our common stock. Our common stock is
listed  on  the OTC Bulletin Board, and there is a limited volume of sales, thus
providing a limited liquidity into the market for our shares. As a result of the
foregoing,  stockholders  may  be  unable  to  liquidate  their  shares.

We  are subject to various risks associated with the development of the biofuels
and  alternative  energy market place and if we do not succeed our business will
be  adversely  affected.

Our  performance will largely depend on our ability to develop and implement the
anaerobic digester and generate energy and gas to sale.  We intend to respond to
technological advances and emerging industry standards and practices on a timely
and  cost-effective  basis however, we cannot predict if we will be effective or
succeed  in  the development of the biofuels and alternative energy markets.  If
we  are  unable, for technical, legal, financial or other reasons, to adapt in a
timely  manner  to  develop  and  operate  in the biofuels market, our business,
results  of  operations  and  financial  condition could be materially adversely
affected.

If  we  need additional financing, we may not be able to raise further financing
or  it  may only be available on terms unfavorable to us or to our stockholders.

Available  cash  resources may not be sufficient to meet our anticipated working
capital and capital expenditure requirements, if the anaerobic digester does not
produce  revenue  for  at  least  12  months.  It  may become necessary to raise
additional  funds  to respond to business contingencies, which could include the
need  to:

-  fund additional project expansion for the biofuels production;
-  fund  additional  marketing  expenditures;
-  develop  additional  alternative  energy  projects  or  enhance  the WOBF gas
products;


<PAGE>
-  enhance  our  operating  infrastructure;
-  hire  additional  personnel;
-  acquire  other  complementary  businesses  or  technologies.

If  we raise additional funds through the issuance of equity or convertible debt
securities,  the  percentage ownership of our stockholders would be reduced, and
these  newly  issued  securities  might  have  rights, preferences or privileges
senior  to  those  of  existing  stockholders. Additional financing might not be
available  on  terms  favorable  to  us,  or  at all. If adequate funds were not
available  or  were  not  available on acceptable terms, our ability to fund our
operations,  take  advantage  of unanticipated opportunities, develop or enhance
our  products  or  otherwise  respond  to  competitive  pressures  would  be
significantly  limited.


ITEM 3.  CONTROLS AND PROCEDURES

(a)     Under  the  supervision  and  with  the participation of our management,
including  our  principal  executive officer and principal financial officer, we
conducted  an evaluation of our disclosure controls and procedures, as such term
is defined under Rule 13a-14(c) promulgated under the Securities Exchange Act of
1934,  as  amended  (the "Exchange Act"), as of the end of the period covered by
this  report.  Based  on  this  evaluation,  our principal executive officer and
principal  financial  officer  concluded  that  our  disclosure  controls  and
procedures  are  effective  in  alerting  them  on  a  timely  basis to material
information  relating  to  our Company (including its consolidated subsidiaries)
required  to  be  included  in our reports filed or submitted under the Exchange
Act.

(b)     There  have been no changes (including corrective actions with regard to
significant  deficiencies  or material weaknesses) in our internal controls over
financial  reporting  that  has  materially  affected or could materially affect
these  internal  controls  over  financial  reporting.


<PAGE>
                            PART II OTHER INFORMATION
                            -------------------------

ITEM 1. LEGAL PROCEEDINGS.

None

ITEM 2. CHANGES IN SECURITIES.

None

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

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
Exhibit                            Description                                  Incorporated by Reference from
  No.                                                                                    Registrant's
--------------------------------------------------------------------------------------------------------------
<S>      <C>                                                                    <C>
31.1     Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer  May 13, 2005
--------------------------------------------------------------------------------------------------------------
         Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer
31.2     by Vice-President, Secretary and Treasurer                             May 13, 2005
--------------------------------------------------------------------------------------------------------------
         Certification pursuant to 18 U.S.C. SECTION 1350 by Chairman and
32       Chief Executive Officer and Vice-President, Secretary and Treasurer    May 13, 2005
--------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>
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.



                         INTREPID TECHNOLOGY & RESOURCES, INC.
                                      (Registrant)


Date: November 10, 2005  By: /s/ Dr. Dennis D. Keiser, Chief Executive Officer &
                             ---------------------------------------------------
                             President, & Acting Chief Financial Officer
                             -------------------------------------------


Date: November 10, 2005  By: /s/ Dr. Jacob D. Dustin, Vice President, Secretary,
                             ---------------------------------------------------
                             and Treasurer
                             -------------