**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**FORM      10-Q**

| **x** | **QUARTERLY                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934** |
|-------|---------------------------------------------------------------------------------------------------------------------|

**      September 30, 2008**

| **o** | **TRANSITION                REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF                1934** |
|-------|-----------------------------------------------------------------------------------------------------------|

__________.

*Commission      File No.*
***000-26913***

| **NW                TECH CAPITAL, INC.**                                              |
|---------------------------------------------------------------------------------------|
| ((Exact                Name of Registrant as Specified in its                Charter) |

| **NEVADA**                                                                                  |   | **86-0862532**                                                    |
|---------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|
| (State                or Other Jurisdiction ofincorporation                or organization) |   | (I.R.S.                EmployerIdentification                No.) |
|                                                                                        |   |                                                              |
| **4603                NE St. Johns Road, Ste. B****Vancouver,                Washington**   |   | **98661**                                                         |
| (Address                of Principal Executive Offices)                                     |   | (Zip                Code)                                         |

|  Large                accelerated filer o |   | Accelerated                filer o         |
|------------------------------------------------|--------|--------------------------------------------|
|                                           |   |                                       |
| Non-accelerated                filer o         |   | Smaller                reporting company x |

**APPLICABLE      ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS**

**DURING      THE PRECEDING FIVE YEARS**

**APPLICABLE      ONLY TO CORPORATE ISSUERS**

----

**TABLE      OF CONTENTS**

|                      |                                                                                                             | **Page**   |
|---------------------------|------------------------------------------------------------------------------------------------------------------|----------------------|
|                      | **PART                  I – FINANCIAL INFORMATION**                                                   |                 |
|                 |                                                                                                        |            |
| Item                  1.  | Condensed                  Consolidated Financial Statements                                                     | 3                    |
|                      |                                                                                                             |                 |
|                      | Condensed                  Consolidated Balance Sheets                                                           | 3                    |
|                      |                                                                                                             |                 |
|                      | Condensed                  Consolidated Statement Of Operations                                                  | 5                    |
|                      |                                                                                                             |                 |
|                      | Cash                  Flows From Operating Activities                                                            | 6                    |
|                      |                                                                                                             |                 |
|                      | Notes                  To The Condensed Consolidated Financial Statements                                        | 8                    |
|                      |                                                                                                             |                 |
| Item                  2.  | Management’s                  Discussion and Analysis and Results of                  Operations | 19                   |
|                      |                                                                                                             |                 |
| Item                  3.  | Quantitative                  and Qualitative Market Risk                                                        | 23                   |
|                      |                                                                                                             |                 |
| Item                  4.  | Controls                  and Procedures                                                                         | 23                   |
|                      |                                                                                                             |                 |
|                      | **PART                  II - OTHER INFORMATION**                                                                 |                 |
|                      |                                                                                                             |                 |
| Item                  1.  | Legal                  Proceedings                                                                               | 24                   |
|                      |                                                                                                             |                 |
| Item                  1A. | Risk                  Factors                                                                                    | 24                   |
|                      |                                                                                                             |                 |
| Item                  2.  | Unregistered                  Sales of Equity Securities and Use of Proceeds                                     | 24                   |
|                      |                                                                                                             |                 |
| Item                  3.  | Defaults                  Upon Senior Securities                                                                 | 25                   |
|                      |                                                                                                             |                 |
| Item                  4.  | Submission                  of Matters to a Vote of Security Holders                                             | 25                   |
|                      |                                                                                                             |                 |
| Item                  5.  | Other                  Information                                                                               | 25                   |
|                      |                                                                                                             |                 |
| Item                  6.  | Exhibits                                                                                                         | 25                   |

----

**PART      I - FINANCIAL INFORMATION**

**ITEM      1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.**

| **NW                TECH CAPITAL, INC.**                                |
|-------------------------------------------------------------------------|
| **(FORMERLY                CYBERTEL CAPITAL CORPORATION)**              |
| **CONDENSED                CONSOLIDATED BALANCE                SHEETS** |

|                                                                              |   | **September 30, 2008** |    | **December 31, 2007** |   |
|-----------------------------------------------------------------------------------|--------|----------------------------------|---------|---------------------------------|--------|
|                                                                              |   | **(UNAUDITED)**                  |    |                            |   |
| **ASSETS**                                                                        |   |                             |    |                            |   |   |   |
| Current                assets                                                     |   |                             |    |                            |   |   |   |
| Cash                                                                              |   | $                                | 20,258  |                            | $      | 16,675 |   |
| Accounts                receivable, net of $7,781 allowance for doubtful accounts |   |                             | 163,327 |                            |   | - |   |
| Inventory                                                                         |   |                             | 51,520  |                            |   | - |   |
| Other                current assets                                               |   |                             | -       |                            |   | 40,000 |   |
| Total                current assets                                               |   |                             | 235,105 |                            |   | 56,675 |   |
| Fixed                assets, net of depreciation                                  |   |                             | 141,991 |                            |   | - |   |
| Goodwill                                                                          |   |                             | 586,516 |                            |   | - |   |
| Other                Assets                                                       |   |                             | 680     |                            |   | - |   |
| TOTAL                ASSETS                                                       |   | $                                | 964,292 |                            | $      | 56,675 |   |

----

**NW      TECH CAPITAL, INC.**

**(FORMERLY      CYBERTEL CAPITAL CORPORATION)**

**CONDENSED      CONSOLIDATED BALANCE SHEETS**

**(CONTINUED)**

|                                                                                                            |   | **September 30, 2008** |        | **December 31, 2007** |   |
|-----------------------------------------------------------------------------------------------------------------|--------|----------------------------------|-------------|---------------------------------|--------|
|                                                                                                            |   | **(UNAUDITED)**                  |        |                            |   |
|  **LIABILITIES                    AND STOCKHOLDERS' DEFICIT**                                              |   |                             |        |                            |   |
| **LIABILITIES**                                                                                                 |   |                             |        |                            |   |
| Current                    liabilities                                                                          |   |                             |        |                            |   |
| Accounts                    payable                                                                             |   | $                                | 428,542     |                            | $      | 228,082 |   |
| Accrued                    expenses                                                                             |   |                             | 17,697      |                            |   | 67,806 |   |
| Bank                    credit line                                                                             |   |                             | 70,940      |                            |   | - |   |
| Notes                    payable                                                                                |   |                             | 43,195      |                            |   | - |   |
| Notes                    payable to shareholders, net                                                           |   |                             | 492,393     |                            |   | 293,064 |   |
| Derivative                    liability                                                                         |   |                             | 618,637     |                            |   | 140,187 |   |
| Total                    current liabilities                                                                    |   |                             | 1,671,404   |                            |   | 729,139 |   |
| Long                    term notes payable                                                                      |   |                             | 27,397      |                            |   | - |   |
| Long                    term notes payable to shareholders                                                      |   |                             | 570,735     |                            |   | - |   |
| Total                    long term liabilities                                                                  |   |                             | 598,132     |                            |   | - |   |
| TOTAL                    LIABILITIES                                                                            |   |                             | 2,269,536   |                            |   | 729,139 |   |
|                                                                                                            |   |                             |        |                            |   |   |   |
| ** STOCKHOLDERS’                    DEFICIT**                                                        |   |                             |        |                            |   |   |   |
| Series                    A convertible preferred stock, $.001 per share,                                       |   |                             |        |                            |   |   |   |
| 5,000                    shares authorized; 55 and 164 shares issued and                    outstanding         |   |                             | -           |                            |   | - |   |
| Series                    B Convertible and Voting Preferred Stock,                                             |   |                             |        |                            |   |   |   |
| par                    value $.00001 per share; 100,000,000 shares authorized;                                  |   |                             |        |                            |   |   |   |
| 49,200,000                    and 50,000,000 shares issued and outstanding                                      |   |                             | 492         |                            |   | 500 |   |
| Series                    E convertible preferred stock, par value $0.00001 per                    share,       |   |                             |        |                            |   |   |   |
| 10,000,000                    shares authorized; 107,840 and 0 shares issued and                    outstanding |   |                             | 1           |                            |   | - |   |
| Series                    F convertible preferred stock, par value $1.00 per share,                             |   |                             |        |                            |   |   |   |
| 10,000,000                    shares authorized; 7,500 and 0 shares issued and                    outstanding   |   |                             | 7,500       |                            |   | - |   |
| Common                    stock; $.00001 par value; 2,500,000,000 shares authorized;                            |   |                             |        |                            |   |   |   |
| 310,685,705                    and 550,363 issued and outstanding                                               |   |                             | 3,107       |                            |   | 6 |   |
| Additional                    paid-in-capital                                                                   |   |                             | 24,663,196  |                            |   | 23,656,194 |   |
| Accumulated                    deficit                                                                          |   |                             | (25,979,540 | )                               |   | (24,329,164 | ) |
| TOTAL                    STOCKHOLDERS’ DEFICIT                                                            |   |                             | (1,305,244  | )                               |   | (672,464 | ) |
| TOTAL                    LIABILITIES AND STOCKHOLDERS’ DEFICIT                                            |   | $                                | 964,292     |                            | $      | 56,675 |   |

----

| **NW                TECH CAPITAL, INC.**                          |
|-------------------------------------------------------------------|
| **CONDENSED                CONSOLIDATED STATEMENT OF OPERATIONS** |
| **(UNAUDITED)**                                                   |

|                                                                                       |   | **For                the Three Months Ended September 30,** |        |  **For                the Nine Months Ended September 30,** |   |
|--------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------|-------------|------------------------------------------------------------------|--------|
|                                                                                       |   | **2008**                                                    |        | **2007**                                                         |   | **2008** |   | **2007** |   |
|                                                                                       |   |                                                        |        |                                                             |   |   |   |   |   |
| REVENUES                                                                                   |   | $                                                           | 511,465     |                                                             | $      | - |   | $ | 574,200 |   | $ | - |   |
| Cost                of goods sold                                                          |   |                                                        | 222,034     |                                                             |   | - |   |   | 252,631 |   |   | - |   |
| Gross                profit                                                                |   |                                                        | 289,431     |                                                             |   | - |   |   | 321,569 |   |   | - |   |
| EXPENSES                                                                                   |   |                                                        |        |                                                             |   |   |   |   |   |   |   |   |   |
| Selling,                general and administrative                                         |   |                                                        | 495,581     |                                                             |   | 181,251 |   |   | 888,516 |   |   | 297,289 |   |
| Stock                based compensation                                                    |   |                                                        | 19,200      |                                                             |   | 79,970 |   |   | 193,730 |   |   | 820,225 |   |
| Litigation                judgment                                                         |   |                                                        | 87,775      |                                                             |   | - |   |   | 87,775 |   |   | - |   |
| Depreciation                and amortization                                               |   |                                                        | 1,137       |                                                             |   | - |   |   | 2,071 |   |   | - |   |
| TOTAL                OPERATING EXPENSES                                                    |   |                                                        | 603,693     |                                                             |   | 261,221 |   |   | 1,172,092 |   |   | 1,117,514 |   |
| OPERATING                LOSS                                                              |   |                                                        | (314,262    | )                                                                |   | (261,221 | ) |   | (850,523 | ) |   | (1,117,514 | ) |
|                                                                                       |   |                                                        |        |                                                             |   |   |   |   |   |   |   |   |   |
| OTHER                INCOME (EXPENSE)                                                      |   |                                                        |        |                                                             |   |   |   |   |   |   |   |   |   |
| Interest                income                                                             |   |                                                        | -           |                                                             |   | - |   |   | 1 |   |   | 35 |   |
| Interest                expense                                                            |   |                                                        | (169,371    | )                                                                |   | (440 | ) |   | (293,059 | ) |   | (1,903 | ) |
| Change                in fair value of derivative liability                                |   |                                                        | 1,225,077   |                                                             |   | (92,145 | ) |   | (478,450 | ) |   | (112,232 | ) |
| Other                income                                                                |   |                                                        | -           |                                                             |   | 27 |   |   | 199 |   |   | 27 |   |
| TOTAL                OTHER INCOME/(EXPENSE)                                                |   |                                                        | 1,055,706   |                                                             |   | (92,558 | ) |   | (771,309 | ) |   | (114,073 | ) |
| INCOME                (LOSS) FROM CONTINUING OPERATIONS                                    |   |                                                        | 741,444     |                                                             |   | (353,779 | ) |   | (1,621,832 | ) |   | (1,231,587 | ) |
|                                                                                       |   |                                                        |        |                                                             |   |   |   |   |   |   |   |   |   |
| DISCONTINUED                OPERATIONS                                                     |   |                                                        |        |                                                             |   |   |   |   |   |   |   |   |   |
| Income                (Loss) from operations of discontinued business                      |   |                                                        | -           |                                                             |   | 17,480 |   |   | - |   |   | (6,129 | ) |
| INCOME                (LOSS) FROM DISCONTINUED OPERATIONS                                  |   |                                                        | -           |                                                             |   | 17,480 |   |   | - |   |   | (6,129 | ) |
| NET                INCOME (LOSS)                                                           |   |                                                        | 741,444     |                                                             |   | (336,299 | ) |   | (1,621,832 | ) |   | (1,237,716 | ) |
| Preferred                dividend                                                     |   |                                                        | (1,891      | )                                                                |   | (463 | ) |   | (28,544 | ) |   | (3,567 | ) |
| NET                INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS                       |   | $                                                           | 739,553     |                                                             | $      | (336,762 | ) |   | (1,650,376 | ) |   | (1,241,283 | ) |
|                                                                                       |   |                                                        |        |                                                             |   |   |   |   |   |   |   |   |   |
| NET                INCOME (LOSS) PER COMMON SHARE –                BASIC AND DILUTED |   |                                                        |        |                                                             |   |   |   |   |   |   |
| Continuing                operations                                                       |   | $                                                           | 0.00        |                                                             | $      | (2.04 | ) |   | (0.02 | ) |   | (13.71 | ) |
| Discontinued                operations                                                     |   | $                                                           | 0.00        |                                                             | $      | 0.10 |   |   | 0.00 |   |   | (0.07 | ) |
| Net                loss per common share                                                   |   | $                                                           | 0.00        |                                                             | $      | (1.94 | ) |   | (0.02 | ) |   | (13.82 | ) |
| Weighted                average number of shares outstanding:                              |   |                                                        |        |                                                             |   |   |   |   |   |   |   |   |   |
| Basic                and diluted                                                           |   |                                                        | 216,772,270 |                                                             |   | 173,319 |   |   | 102,135,601 |   |   | 89,821 |   |

----

| **NW                TECH CAPITAL, INC.**                           |
|--------------------------------------------------------------------|
| **CONDENSED                CONSOLIDATED STATEMENTS OF CASH FLOWS** |
| **(UNAUDITED)**                                                    |

|                                                                                                                 |   | **For                the Nine Months Ended September 30,** |       |
|----------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------|------------|
|                                                                                                                 |   | **2008**                                                   |       | **2007** |   |
| **CASH                FLOWS FROM OPERATING ACTIVITIES**                                                              |   |                                                       |       |   |   |
| Net                loss from continuing operations                                                              |   | $                                                          | (1,621,832 | ) | $ | (1,231,587 | ) |
| Adjustments                to reconcile net income to net cash provided by operating                activities       |   |                                                       |       |   |   |   |   |
| Depreciation                                                                                                         |   |                                                       | 2,072      |   |   | - |   |
| Notes                issued for expenses                                                                             |   |                                                       | 286,878    |   |   | - |   |
| Interest                expense associated with beneficial conversion feature                                        |   |                                                       | 252,965    |   |   | - |   |
| Change                in fair value of derivative liability                                                          |   |                                                       | 478,450    |   |   | 112,232 |   |
| Common                stock issued to third parties for services                                                     |   |                                                       | 193,730    |   |   | 820,225 |   |
| Common                stock issued for interest payment on debt                                                      |   |                                                       | 22,389     |   |   | - |   |
| Changes                in assets and liabilities                                                                     |   |                                                       |       |   |   |   |   |
| Accounts                receivable                                                                                   |   |                                                       | 12,860     |   |   | - |   |
| Inventory                                                                                                            |   |                                                       | (4,712     | ) |   | - |   |
| Prepaid                expenses                                                                                      |   |                                                       | 20,000     |   |   | - |   |
| Accounts                payable and accrued expenses                                                                 |   |                                                       | 194,389    |   |   | 111,783 |   |
| Net                cash used in continuing operations                                                                |   |                                                       | (162,811   | ) |   | (187,347 | ) |
| Net                loss from discontinued operations                                                                 |   |                                                       | -          |   |   | (6,129 | ) |
| Net                cash provided by discontinued operations                                                          |   |                                                       |  -    |   |   | 2,129 |   |
| Net                cash used in operating activities                                                                 |   |                                                       | (162,811   | ) |   | (191,347 | ) |
|                                                                                                                 |   |                                                       |       |   |   |   |   |
| **CASH                FLOW FROM INVESTING ACTIVITIES**                                                               |   |                                                       |       |   |   |   |   |
| Purchases                of fixed assets                                                                             |   |                                                       | (5,860     | ) |   | - |   |
| Net                cash used in continuing operations                                                                |   |                                                       | (5,860     | ) |   | - |   |
| Net                cash provided by discontinued operations                                                          |   |                                                       | -          |   |   | (999 | ) |
| Net                cash provided by investing activities                                                             |   |                                                       | (5,860     | ) |   | (999 | ) |
|                                                                                                                 |   |                                                       |       |   |   |   |   |
| **CASH                FLOW FROM FINANCING ACTIVITIES**                                                               |   |                                                       |       |   |   |   |   |
| Proceeds                from related party notes payable                                                             |   |                                                       | 21,073     |   |   | - |   |
| Proceeds                from shareholder notes payable                                                               |   |                                                       | 79,000     |   |   | - |   |
| Proceeds                from notes payable                                                                           |   |                                                       | 35,400     |   |   | 51,000 |   |
| Repayment                of notes payable                                                                            |   |                                                       | (30,092    | ) |   | - |   |
| Proceeds                from issuance of common stock                                                                |   |                                                       | 45,000     |   |   | - |   |
| Proceeds                from issuance of preferred stock & note payable for purchase of                Teledigit |   |                                                       | 21,873     |   |   | - |   |
| Payment                of dividends                                                                                  |   |                                                       | -          |   |   | (3,567 | ) |
| Proceeds                from exercise of ESOP                                                                        |   |                                                       | -          |   |   | 189,991 |   |
| Net                cash provided by continuing operations                                                            |   |                                                       | 172,254    |   |   | 237,424 |   |
| Net                cash used in discontinued operations                                                              |   |                                                       | -          |   |   | (28,179 | ) |
| Net                cash provided by financing activities                                                             |   |                                                       | 172,254    |   |   | 209,245 |   |

----

| **NW                TECH CAPITAL, INC.**                           |
|--------------------------------------------------------------------|
| **CONDENSED                CONSOLIDATED STATEMENTS OF CASH FLOWS** |
| **(CONTINUED)**                                                    |
| **(UNAUDITED)**                                                    |

|                                                                 |   | **For                the Nine Months Ended September 30,** |    |
|----------------------------------------------------------------------|--------|------------------------------------------------------------|---------|
|                                                                 |   | **2008**                                                   |    | **2007** |   |
|  Cash                and cash equivalents:                      |   |                                                       |    |   |   |
| Increase                in cash                                      |   |                                                       | 3,583   |   |   | 16,899 |   |
| Cash,                beginning of period                             |   |                                                       | 16,675  |   |   | 1,718 |   |
| Cash                of discontinued operations, beginning of period  |   |                                                       | -       |   |   | 19,736 |   |
| Less                cash of discontinued operations, end of period   |   |                                                       | -       |   |   | (37,493 | ) |
| Cash,                end of period                                   |   | $                                                          | 20,258  |   | $ | 860 |   |
|                                                                 |   |                                                       |    |   |   |   |   |
| **SUPLLEMENTAL                DISCLOSURES**                          |   |                                                       |    |   |   |   |   |
| Cash                paid for interest & taxes                    |   | $                                                          | 3,726   |   | $ | 22 |   |
|                                                                 |   |                                                       |    |   |   |   |   |
| Non-cash                financing and investing activities           |   |                                                       |    |   |   |   |   |
| Issuance                of note for accrued expense                  |   | $                                                          | 286,878 |   | $ | - |   |
| Common                stock issued to third parties for services     |   | $                                                          | 193,730 |   | $ | 820,225 |   |
| Issuance                of common stock for payment of debt          |   | $                                                          | 196,522 |   | $ | - |   |
| Conversion                of accrued dividend to common stock        |   | $                                                          | 63,427  |   | $ | - |   |
| Accrued                preferred stock dividends                     |   | $                                                          | 3,145   |   | $ | 3,567 |   |
| Issuance                of note payable for purchase of Teledigit    |   | $                                                          | 720,000 |   | $ | - |   |
| Issuance                of preferred stock for purchase of Teledigit |   | $                                                          | 80,000  |   | $ | - |   |

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements **

**September      30, 2008**

**NOTE      1 - **
**SUMMARY      OF SIGNIFICANT ACCOUNTING POLICIES **

*Organization*

*Basis      of Presentation*

*Allowance      for Doubtful Accounts*

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

*Inventories*

*Property      and Equipment and Leasehold Improvements*

*Revenue      Recognition*

*Basic      and Diluted Net Loss per Share*

**NOTE      2 – MATERIAL EVENTS**

*Acquisitions*

*Reverse      Split*

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

*Name      Change*

*Discontinued      Operations*

**NOTE      3 - GOING CONCERN**

**NOTE      4 - NOTES PAYABLE**

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

| **Terms**                                                                                                                                                                                                                                                            |   | **Amount** |        |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|-------------|
|                                                                                                                                                                                                                                                                 |   |       |        |
| ***Bank                Lines of Credit:***                                                                                                                                                                                                                           |   |       |        |
| - $100,000                Credit line at prime plus 1%                                                                                                                                                                                                          |   | $          | 61,390      |   |
| - $10,000                Credit line at 14.25%                                                                                                                                                                                                                  |   |       | 9,550       |   |
| **Total                Bank Lines of Credit**                                                                                                                                                                                                                        |   | $          | **70,940**  |   |
|                                                                                                                                                                                                                                                                 |   |       |        |   |
| ***Short                Term Notes Payable to Non-Shareholders:***                                                                                                                                                                                                   |   |       |        |   |
| - Current                portion of 4.49% interest; principal of $6,479; due 9/30/10; monthly                payments of $318                                                                                                                                   |   | $          | 3,596       |   |
| - Current                portion of 9.99% interest; principal of $10,388; due 5/15/11; monthly                payments of $358                                                                                                                                  |   |       | 3,432       |   |
| - Current                portion of 9.99% interest; principal of $14,368; due 5/19/11; monthly                payments of $509                                                                                                                                  |   |       | 4,884       |   |
| - Current                portion of 9.99% interest; principal of $11,861; due 6/29/11; monthly                payments of $399                                                                                                                                  |   |       | 3,787       |   |
| - 8%                interest; principal of $10,846; convertible to common stock based                on 75%                of average price; due on 9/8/09; net of unamortized discount related                to                debt discount of $8,350        |   |       | 2,496       |   |
| - 18%                interest; principal of $25,000; due on 2/20/09; monthly payments                of                $375                                                                                                                                     |   |       | 25,000      |   |
| **Total                Short Term Notes Payable to Non-Shareholders**                                                                                                                                                                                                |   | $          | **43,195**  |   |
|                                                                                                                                                                                                                                                                 |   |       |        |   |
| ***Short                Term Notes Payable to Shareholders:***                                                                                                                                                                                                       |   |       |        |   |
| - 8%                interest; principal of $19,444; convertible to common stock based                on 75%                of average price; due on 10/11/08; net                of unamortized discount related to the debt discount of                $1,017  |   | $          | 18,427      |   |
| - 12%                interest; principal of $25,436; convertible to common stock based                on 75%                of average price; due on 02/29/09; net                of unamortized discount related to the debt discount of                $8,437 |   |       | 16,999      |   |
| - 10%                interest; principal of 30,000; convertible to common stock based                on 70% of                average price; due on 10/1/08                                                                                                     |   |       | 30,000      |   |
| - 10%                interest; principal of $6,281; convertible to common stock based                on 70% of                average price; due on 10/1/08                                                                                                     |   |       | 6,281       |   |
| - 10%                interest; principal of 19,336; convertible to common stock based                on 70% of                average price; due on 12/20/08; net                of unamortized discount related to the debt discount of                $9,436  |   |       | 9,900       |   |
| - 8%                interest; principal of $7,022 convertible to common stock based on                70% of                average price; due on 12/31/08                                                                                                      |   |       | 7,022       |   |
| - 10%                interest; principal of $20,000; convertible to common stock based                on 70%                of average price; due on 2/28/09; net                of unamortized discount related to the debt discount of                $14,068 |   |       | 5,932       |   |
| - 10%                interest; principal of $25,000; convertible to common stock based                on 70%                of average price; due on 3/31/09; net                of unamortized discount related to the debt discount of                $11,415 |   |       | 13,585      |   |
| - 10%                interest; principal of $10,000; convertible to common stock based                on 70%                of average price; due on 4/30/09                                                                                                    |   |       | 10,000      |   |
| - 10%                interest; principal of $20,000; convertible to common stock based                on 70%                of average price; due on 5/20/09                                                                                                    |   |       | 20,000      |   |
| - 10%                interest; principal of $81,717; convertible to common stock based                on 70%                of average price; due on 5/29/09; net of unamortized discount related                to                debt discount of $52,827     |   |       | 28,890      |   |
| - 10%                interest; principal of $9,728; convertible to common stock based                on 70% of                average price; due on 5/29/09; net of unamortized discount related                to debt                discount of $6,374       |   |       | 3,354       |   |
| - 10%                interest; principal of $20,000; convertible to common stock based                on 70%                of average price; due on 5/29/09; net of unamortized discount related                to                debt discount of $9,722      |   |       | 10,278      |   |
| - 8%                interest; principal of $33,556; convertible to common stock based                on 50%                of average price; due on 3/15/09                                                                                                     |   |       | 33,556      |   |
| - 8%                interest; principal of $30,000; convertible to common stock based                on 70%                of average price; due on 5/1/09; net of unamortized discount related                to                debt discount of $18,843       |   |       | 11,157      |   |
| - 8%                interest; principal of $28,800; convertible to common stock based                on 50%                of average price; due on 3/15/09; net of unamortized discount related                to                debt discount of $18,089      |   |       | 10,711      |   |
| - No                interest; principal of $4,000; convertible to common stock based                on 70% of                average price; due on 3/9/09; net of unamortized discount related                to debt                discount of $1,975         |   |       | 2,025       |   |
| - No                interest; principal of $125,702                                                                                                                                                                                                             |   |       | 125,702     |   |
| - Current                portion of 6% interest; principal of $720,000; due 7/31/13 convertible                to                Series E Preferred Stock; monthly payments of 13,920                shares                                                     |   |       | 128,574     |   |
| **Total                Short Term Notes Payable to Shareholders**                                                                                                                                                                                                    |   | $          | **492,393** |   |
|                                                                                                                                                                                                                                                                 |   |       |        |   |
| ***Long                Term Notes Payable to Non-Shareholders:***                                                                                                                                                                                                    |   |       |        |   |
| - Long                term portion of 4.49% interest; principal of $6,479; due 9/30/10;                monthly                payments of $318                                                                                                                  |   |       | 2,883       |   |
| - Long                term portion of 9.99% interest; principal of $10,388; due 5/15/11;                monthly                payments of $358                                                                                                                 |   |       | 6,956       |   |
| - Long                term portion of 9.99% interest; principal of $14,368; due 5/19/11;                monthly                payments of $509                                                                                                                 |   |       | 9,484       |   |
| - Long                term portion of 9.99% interest; principal of $11,861; due 6/29/11;                monthly                payments of $399                                                                                                                 |   |       | 8,074       |   |
| **Total                Long Term Notes Payable to Non-Shareholders**                                                                                                                                                                                                 |   | $          | **27,397**  |   |
|                                                                                                                                                                                                                                                                 |   |       |        |   |
| ***Long                Term Notes Payable to Shareholders:***                                                                                                                                                                                                        |   |       |        |   |
| - Long                term portion of 6% interest; principal of $720,000; due 7/31/13                convertible to Series E Preferred Stock; monthly payments of 13,920                shares                                                                  |   |       | 570,735     |   |
| **Total                Long Term Notes Payable to Shareholders**                                                                                                                                                                                                     |   | $          | **570,735** |   |
|                                                                                                                                                                                                                                                                 |   |       |        |   |

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

**NOTE      5 - STOCK HOLDER’S DEFICIT**

***Common      Stock***

| **Date                  of Issue** |      | **Number                  of Shares Issued** |   | **Aggregate                  Sales Price** |   | **Nature                  of Transaction** |        |
|------------------------------------|-----------|----------------------------------------------|--------|--------------------------------------------|--------|--------------------------------------------|-------------|
|                               | 07/02/08  |                                         |   | 4,600,000                                  |   | $                                          | 2,254       |   |   | Debt                  Repayment |   |
|                               | 07/08/08  |                                         |   | 3,000,000                                  |   |                                       | 1,470       |   |   | Debt                  Repayment |   |
|                               | 07/10/08  |                                         |   | 3,000,000                                  |   |                                       | 4,200       |   |   | Payment                  for Services |   |
|                               | 07/10/08  |                                         |   | 3,000,000                                  |   |                                       | 1,470       |   |   | Debt                  Repayment |   |
|                               | 07/18/08  |                                         |   | 10,000,000                                 |   |                                       | 10,000      |   |   | Cash                  for Stock |   |
|                               | 08/07/08  |                                         |   | 8,193,000                                  |   |                                       | 5,735       |   |   | Debt                  Repayment |   |
|                               | 08/07/08  |                                         |   | 9,226,663                                  |   |                                       | 7,381       |   |   | Preferred                  A conversion |   |
|                               | 08/07/08  |                                         |   | 4,509,707                                  |   |                                       | 3,608       |   |   | Preferred                  A Dividend |   |
|                               | 08/13/08  |                                         |   | 4,000,000                                  |   |                                       | 6,000       |   |   | Payment                  for Services |   |
|                               | 08/13/08  |                                         |   | 9,000,000                                  |   |                                       | 6,750       |   |   | Debt                  Repayment |   |
|                               | 08/18/08  |                                         |   | 5,000,000                                  |   |                                       | 9,000       |   |   | Payment                  for Services |   |
|                               | 08/18/08  |                                         |   | 16,980,000                                 |   |                                       | 12,335      |   |   | Debt                  Repayment |   |
|                               | 08/20/08  |                                         |   | 12,000,000                                 |   |                                       | 8,400       |   |   | Debt                  Repayment |   |
|                               | 08/27/08  |                                         |   | 11,600,000                                 |   |                                       | 5,800       |   |   | Debt                  Repayment |   |
|                               | 08/28/08  |                                         |   | 9,000,000                                  |   |                                       | 6,300       |   |   | Debt                  Repayment |   |
|                               | 09/03/08  |                                         |   | 8,800,000                                  |   |                                       | 10,000      |   |   | Cash                  for Stock |   |
|                               | 09/05/08  |                                         |   | 32,500,000                                 |   |                                       | 17,583      |   |   | Debt                  Repayment |   |
|                               | 09/08/08  |                                         |   | 7,000,000                                  |   |                                       | 3,696       |   |   | Repayment                  of debt |   |
|                               | 09/24/08  |                                         |   | 9,000,000                                  |   |                                       | 2,700       |   |   | Repayment                  of debt |   |
|                               |      |                                         |   |                                       |   |                                       |        |   |   |   |   |
|                               | **Total** |                                         |   | **170,409,370**                            |   | **$**                                      | **124,682** |   |   |   |   |

***Preferred      Stock***

|   | · | Holders                of the Company’s Series A Preferred stock converted 7.38 shares of Series                A preferred stock into 9,226,663 shares of the Company’s common stock and                $3,608 of dividends into 4,509,707 shares of the Company’s common stock as                indicated on the chart above. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                Company issued 27,840 shares of the Company’s Series E preferred stock                valued at $27,840 as partial payment for the acquisition of Teledigit.                Since the Series E Preferred Stock has a convertible feature, a Preferred                Dividend of $1,127 was calculated in accordance with EITF                00-27. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Holders                of the Company’s Series A Preferred stock converted 28.96 shares of Series                A preferred stock into 29,462,800 shares of the Company’s common                stock. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

|   | · | The                Company designated a new series of preferred stock named the Series                F                Preferred Stock with 10,000,000 authorized shares with each share                convertible to $1.00 worth of the Company’s common stock. The Company                issued 7,500 shares of the Company’s Series F Preferred Stock during the                quarter. Since the Series F Preferred Stock has a convertible feature,                a                Preferred Dividend of $1,098 was calculated in accordance with EITF                00-27. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                Company issued 80,000 shares of the Company’s Series E Preferred Stock as                partial payment for the acquisition of Teledigit. Since the Series                E                Preferred Stock has a convertible feature, a Preferred Dividend of                $23,175                was calculated in accordance with EITF                00-27. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Holders                of the Company’s Series A preferred stock converted 80.47 shares of the                Series A Preferred Stock and $59,819 of Series A dividends into 2,027,068                shares of the Company’s common                stock. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                Company amended the Series B Preferred Stock by increasing the authorized                shares from 50,000,000 shares to 100,000,000 million shares with                a par                value of $0.00001 per share. The Company also added a conversion                feature                which allows shareholders of the Series B Preferred Stock to convert                one                share of Series B Preferred Stock into 25 shares of Common Stock                upon                request of the shareholder. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                President and CEO of the Company converted 800,000 shares of his                Series B                Preferred Stock into 20,000,000 shares of the Company’s common                stock. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                Company designated a new series of preferred stock named the Series                E                Preferred Stock with 10,000,000 authorized shares and a par value                of                $0.00001. Each share of the Series E Preferred Stock is convertible                to                $1.00 of the Company’s Common Stock six months after issuance. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

**NOTE      6 – DISCONTINUED OPERATIONS**

* *

|                                               |   | **Three                Months Ended September 30,** |   | **Nine                Months Ended****September                30,** |   |
|----------------------------------------------------|--------|-----------------------------------------------------|--------|----------------------------------------------------------------------|--------|
|                                               |   | **2008**                                            |   | **2007**                                                             |   | **2008** |   | **2007** |   |
|                                               |   |                                                |   |                                                                 |   |   |   |   |   |
| Revenue                                            |   | $                                                   | -      |                                                                 | $      | 98,072 |   | $ | - |   | $ | 371,671 |   |
| Cost                of goods sold                  |   |                                                |   |                                                                 |   | (1,931 | ) |   |   |   |   | (7,754 | ) |
| Gross                profit                        |   |                                                | -      |                                                                 |   | 96,141 |   |   | - |   |   | 363,917 |   |
|                                               |   |                                                |   |                                                                 |   |   |   |   |   |   |   |   |   |
| Operating                expenses                  |   |                                                |   |                                                                 |   |   |   |   |   |   |   |   |   |
| Selling,                general and administrative |   |                                                | -      |                                                                 |   | 78,674 |   |   | - |   |   | 368,805 |   |
| Total                operating expenses            |   |                                                | -      |                                                                 |   | (78,674 | ) |   | - |   |   | (368,805 | ) |
| Other                Income (expense):             |   |                                                |   |                                                                 |   |   |   |   |   |   |   |   |   |
| Interest                expense                    |   |                                                | -      |                                                                 |   | (359 | ) |   | - |   |   | (2,309 | ) |
| Other                income                        |   |                                                | -      |                                                                 |   | 372 |   |   | - |   |   | 1,068 |   |
| Total                other income                  |   |                                                | -      |                                                                 |   | 13 |   |   | - |   |   | (1,241 | ) |
| Loss                from discontinuing operations  |   | $                                                   | -      |                                                                 | $      | 17,480 |   | $ | - |   | $ | (6,129 | ) |

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

**NOTE      7 – ACQUISITIONS AND INVESTMENTS**

*Teledigit,      Inc.*

*Business      Combinations*

| Cash                                 |   | $      | 21,871  |   |
|--------------------------------------|--------|--------|---------|--------|
| Accounts                  receivable |   |   | 176,187 |   |
| Inventories                          |   |   | 46,808  |   |
| Fixed                  assets        |   |   | 138,203 |   |
| Other                  assets        |   |   | 680     |   |
| Accounts                  payable    |   |   | (18,835 | )      |
| Current                  liabilities |   |   | (1,080  | )      |
| Bank                  line of credit |   |   | (82,580 | )      |
| Notes                  payable       |   |   | (47,770 | )      |
| Goodwill                             |   |   | 586,516 |   |
| Purchase                  price      |   | $      | 820,000 |   |

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

| **NW                TECH CAPITAL, INC.**                                                  |
|-------------------------------------------------------------------------------------------|
| **PROFORMA                CONDENSED CONSOLIDATED STATEMENT OF                OPERATIONS** |

|                                                                                       |   | **For                the Three Months Ended September 30,** |        | **For                the Nine Months Ended September 30,** |   |
|--------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------|-------------|------------------------------------------------------------|--------|
|                                                                                       |   | **2008**                                                    |        | **2007**                                                   |   | **2008** |   | **2007** |   |
|                                                                                       |   |                                                        |        |                                                       |   |   |   |   |   |
| REVENUES                                                                                   |   | $                                                           | 511,465     |                                                       | $      | 485,104 |   | $ | 1,202,011 |   | $ | 1,322,786 |   |
| Cost                of goods sold                                                          |   |                                                        | 222,034     |                                                       |   | 146,928 |   |   | 466,691 |   |   | 407,452 |   |
| Gross                profit                                                                |   |                                                        | 289,431     |                                                       |   | 338,176 |   |   | 735,320 |   |   | 915,334 |   |
| EXPENSES                                                                                   |   |                                                        |        |                                                       |   |   |   |   |   |   |   |   |   |
| Selling,                general and administrative                                         |   |                                                        | 302,614     |                                                       |   | (26,311 | ) |   | 2,003,823 |   |   | 1,160,614 |   |
| Stock                based compensation                                                    |   |                                                        | 299,942     |                                                       |   | 588,348 |   |   | 174,530 |   |   | 740,255 |   |
| Depreciation                and amortization                                               |   |                                                        | 1,137       |                                                       |   | 11,609 |   |   | 18,916 |   |   | 23,218 |   |
| TOTAL                OPERATING EXPENSES                                                    |   |                                                        | 603,693     |                                                       |   | 573,646 |   |   | 2,197,269 |   |   | 1,924,087 |   |
| OPERATING                LOSS                                                              |   |                                                        | (314,262    | )                                                          |   | (235,470 | ) |   | (1,461,949 | ) |   | (1,008,753 | ) |
|                                                                                       |   |                                                        |        |                                                       |   |   |   |   |   |   |   |   |   |
| OTHER                INCOME (EXPENSE)                                                      |   |                                                        |        |                                                       |   |   |   |   |   |   |   |   |   |
| Interest                income                                                             |   |                                                        | --          |                                                       |   | 1 |   |   | - |   |   | 38 |   |
| Interest                expense                                                            |   |                                                        | (171,598    | )                                                          |   | (1,891 | ) |   | (233,478 | ) |   | (6,041 | ) |
| Change                in fair value of derivative liability                                |   |                                                        | 1,225,077   |                                                       |   | (92,145 | ) |   | (478,450 | ) |   | (112,232 | ) |
| Other                income                                                                |   |                                                        | -           |                                                       |   | 27 |   |   | (829,681 | ) |   | 21 |   |
| TOTAL                OTHER INCOME/(EXPENSE)                                                |   |                                                        | 1,053,479   |                                                       |   | (93,936 | ) |   | (1,541,609 | ) |   | (118,214 | ) |
| INCOME                (LOSS) FROM CONTINUING OPERATIONS                                    |   |                                                        | 739,216     |                                                       |   | (329,405 | ) |   | (3,003,559 | ) |   | (1,126,967 | ) |
|                                                                                       |   |                                                        |        |                                                       |   |   |   |   |   |   |   |   |   |
| DISCONTINUED                OPERATIONS                                                     |   |                                                        |        |                                                       |   |   |   |   |   |   |   |   |   |
| Income                (loss) from operations of discontinued business                      |   |                                                        | -           |                                                       |   | 17,479 |   |   | - |   |   | (6,129 | ) |
| INCOME                (LOSS) FROM DISCONTINUED OPERATIONS                                  |   |                                                        | -           |                                                       |   | 17,479 |   |   | - |   |   | (6,129 | ) |
| NET                INCOME (LOSS)                                                           |   |                                                        | 739,216     |                                                       |   | (311,926 | ) |   | (3,003,559 | ) |   | (1,133,096 | ) |
| Preferred                dividend                                                     |   |                                                        | (1,890      | )                                                          |   | (463 | ) |   | (28,544 | ) |   | (3,567 | ) |
| NET                INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS                       |   | $                                                           | 737,326     |                                                       | $      | (312,389 | ) | $ | (3,032,103 | ) | $ | (1,136,663 | ) |
|                                                                                       |   |                                                        |        |                                                       |   |   |   |   |   |   |   |   |   |
| NET                INCOME (LOSS) PER COMMON SHARE –                BASIC AND DILUTED |   |                                                        |        |                                                       |   |   |   |   |   |   |
| Continuing                operations                                                       |   | $                                                           | 0.00        |                                                       | $      | (1.90 | ) | $ | (0.03 | ) | $ | (12.55 | ) |
| Discontinued                operations                                                     |   | $                                                           | -           |                                                       | $      | 0.10 |   | $ | - |   | $ | (0.07 | ) |
|  Net                loss per common share                                             |   | $                                                           | 0.00        |                                                       | $      | (1.80 | ) | $ | (0.03 | ) | $ | (12.62 | ) |
| Weighted                average number of shares outstanding:                              |   |                                                        |        |                                                       |   |   |   |   |   |   |   |   |   |
| Basic                and diluted                                                           |   |                                                        | 216,772,270 |                                                       |   | 173,319 |   |   | 102,135,601 |   |   | 89.821 |   |

----

**NW      TECH CAPITAL, INC.**

**FORMERLY      CYBERTEL CAPITAL CORPORATION**

**Notes      to the Condensed Consolidated Financial Statements      (continued)**

**September      30, 2008**

**NOTE      8 – RELATED PARTY TRANSACTIONS**

**NOTE      9 – LITIGATION JUDGMENT**

**NOTE      10 - CONCENTRATIONS**

**Major      Customers**

**Major      Suppliers**

**NOTE      11 - SUBSEQUENT EVENTS**

*Stock      Issuances:*

|   | - | The                Company issued a total of 9,500,000 shares of Common stock valued                at                $1,995 for repayment of debt. |
|--------|---|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | 4,000,000                shares were returned to the company and subsequently canceled as                of the                quarter ended September 30, 2008 in connection with services                rendered. |
|--------|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*Shareholder      Loan*

*Acquisitions*

*Notes      Payable*

----

**ITEM      2. MANAGEMENT’S DISCUSSION AND ANALYSIS AND RESULTS OF      OPERATIONS.**

**Overview**

*The      following discussion and analysis should be read in conjunction with the      Consolidated Financial Statements in the Form 10-KSB for the year ended December      31, 2007 and the other financial data appearing elsewhere in this Form      10-Q.*

*The      information set forth in this Management's Discussion and Analysis of Financial      Condition and Results of Operations ("MD&A") contains certain      "forward-looking statements," including, among others (i) expected changes      in      the Company's revenues and profitability, (ii) prospective business      opportunities and (iii) the Company's strategy for financing its business.      Forward-looking statements are statements other than historical information      or      statements of current condition. Some forward-looking statements may be      identified by use of terms such as "believes," "anticipates," "intends" or      "expects." These forward-looking statements relate to the plans, objectives      and      expectations of the Company for future operations. Although the Company believes      that its expectations with respect to the forward-looking statements are based      upon reasonable assumptions within the bounds of its knowledge of its business      and operations, in light of the risks and uncertainties inherent in all future      projections, the inclusion of forward-looking statements in this report should      not be regarded as a representation by the Company or any other person that      the      objectives or plans of the Company will be achieved.*

**Executive      Overview**

----

|   | · | VoIP,                TDM, and Hybrid voice functionality and                networking. |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | · | 10G,                Switched Gigabit, Wireless voice, and multi-protocol                networking. |
|--------|--------|-----------------------------------------------------------------------------------------------------|

|   | · | Computer/Telephony                integration for call centers or Database                backends. |
|--------|--------|-----------------------------------------------------------------------------------------------------|

|   | · | Converged                multimedia applications such as contact centers, desktop                conferencing. |
|--------|--------|----------------------------------------------------------------------------------------------------------------|

|   | · | Managed                IT Support Services and                Outsourcing. |
|--------|--------|----------------------------------------------------------------------------|

|   | · | LAN                / WAN design and network planning. |
|--------|--------|-------------------------------------------------------|

|   | · | Data                network support and desktop                support. |
|--------|--------|-------------------------------------------------------------------------|

|   | · | VoIP                network support and integration. |
|--------|--------|------------------------------------------------------|

|   | · | VPN                and Branch office data deployment. |
|--------|--------|-------------------------------------------------------|

|   | · | Wireless                LAN survey and installation support and                deployment. |
|--------|--------|--------------------------------------------------------------------------------------------|

|   | · | Outdoor                Wireless/Microwave data integration and service (Unlicensed & FCC                Licensed). |
|--------|--------|------------------------------------------------------------------------------------------------------------------------|

|   | · | Remote                network support and management. |
|--------|--------|-------------------------------------------------------|

|   | · | CCTV                and IP Video surveillance network design, installation and                support. |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | Cat5e                and Cat6 Copper networking cabling                installation. |
|--------|--------|--------------------------------------------------------------------------------------|

|   | · | Single-Mode                and Multi-Mode Fiber Optic Cabling installation and                support. |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | CATV                Distribution Design, Service and                Installation. |
|--------|--------|-----------------------------------------------------------------------------------|

|   | · | Data                and Telecommunication room design and                installation. |
|--------|--------|----------------------------------------------------------------------------------------|

**Recent      Developments**

----

**Critical      Accounting Policies**

*Accounting      for Convertible Securities with Beneficial Conversion Features or Contingently      Adjustable Conversion Ratios.*

**Results      of Operations**

*Three      Months Ended September 30, 2008 and 2007*

----

*Nine      months ended September 30, 2008 and 2007*

***Liquidity      and Capital Resources***

----

***Off-Balance      Sheet Transactions***

***Material      Commitments***

**ITEM      3.****QUANTITATIVE      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.**

**ITEM      4. CONTROLS AND PROCEDURES.**

*Evaluation      of disclosure controls and procedures.*

*Changes      in internal control.*

----

**PART      II - OTHER INFORMATION**

**Item      1. Legal Proceedings.**

**Item      1A. Risk Factors**

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

| **Date                  of Issue** |      | **Number                  of Shares Issued** |   | **Aggregate                  Sales Price** |   | **Nature                  of Transaction** |        |
|------------------------------------|-----------|----------------------------------------------|--------|--------------------------------------------|--------|--------------------------------------------|-------------|
|                               | 07/02/08  |                                         |   | 4,600,000                                  |   | $                                          | 2,254       |   |   | Debt                  Repayment |   |
|                               | 07/08/08  |                                         |   | 3,000,000                                  |   |                                       | 1,470       |   |   | Debt                  Repayment |   |
|                               | 07/10/08  |                                         |   | 3,000,000                                  |   |                                       | 1,470       |   |   | Debt                  Repayment |   |
|                               | 07/18/08  |                                         |   | 10,000,000                                 |   |                                       | 10,000      |   |   | Cash                  for Stock |   |
|                               | 08/07/08  |                                         |   | 8,193,000                                  |   |                                       | 5,735       |   |   | Debt                  Repayment |   |
|                               | 08/07/08  |                                         |   | 9,226,663                                  |   |                                       | 7,381       |   |   | Preferred                  A conversion |   |
|                               | 08/07/08  |                                         |   | 4,509,707                                  |   |                                       | 3,608       |   |   | Preferred                  A Dividend |   |
|                               | 08/13/08  |                                         |   | 9,000,000                                  |   |                                       | 6,750       |   |   | Debt                  Repayment |   |
|                               | 08/18/08  |                                         |   | 16,980,000                                 |   |                                       | 12,335      |   |   | Debt                  Repayment |   |
|                               | 08/20/08  |                                         |   | 12,000,000                                 |   |                                       | 8,400       |   |   | Debt                  Repayment |   |
|                               | 08/27/08  |                                         |   | 11,600,000                                 |   |                                       | 5,800       |   |   | Debt                  Repayment |   |
|                               | 08/28/08  |                                         |   | 9,000,000                                  |   |                                       | 6,300       |   |   | Debt                  Repayment |   |
|                               | 09/03/08  |                                         |   | 8,800,000                                  |   |                                       | 10,000      |   |   | Cash                  for Stock |   |
|                               | 09/05/08  |                                         |   | 32,500,000                                 |   |                                       | 17,583      |   |   | Debt                  Repayment |   |
|                               | 09/08/08  |                                         |   | 7,000,000                                  |   |                                       | 3,696       |   |   | Repayment                  of debt |   |
|                               | 09/24/08  |                                         |   | 9,000,000                                  |   |                                       | 2,700       |   |   | Repayment                  of debt |   |
|                               |      |                                         |   |                                       |   |                                       |        |   |   |   |   |
|                               | **Total** |                                         |   | **158,409,370**                            |   | **$**                                      | **105,482** |   |   |   |   |

----

**Item      3. Defaults Upon Senior Securities.**

.

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

**Item      5. Other Information.**

**Item      6. Exhibits.**

| Exhibit                No. |   | Description |
|----------------------------|--------|-------------|
|                       |   |        |

| 4.1 |   | Amendment                of Designation After Issuance of Class or Series for Series B “Super                Voting” Preferred Stock (incorporated by reference to Exhibit 4.1 to the                Company’s Quarterly Report on Form 10Q for the quarter ended March 31,                2008, filed with the SEC on May 14,                2008). |
|-----|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |                                                                                                                                                                                                                                                                                                                    |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.2    |   | Certificate                of Designation for Series E Convertible Preferred Stock (incorporated                by                reference to Exhibit 4.2 to the Company’s Quarterly Report on Form 10Q for                the quarter ended March 31, 2008, filed with the SEC on May 14,                2008). |
|   |   |                                                                                                                                                                                                                                                                                                                    |

| 4.3 |   | Certificate                of Designation for Series F Convertible Preferred Stock (incorporated                by                reference to Exhibit 4.3 to the Company’s Quarterly Report on Form 10Q for                the quarter ended March 31, 2008, filed with the SEC on May 14,                2008) |
|-----|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |                                                                                                                                                                                                               |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1   |   | Certification                of Chief Executive Officer and Chief Financial Officer, James A.                Wheeler,                pursuant to Rules 13a-14(a) and 15d-14(a) of the Exchange                Act. |
|   |   |                                                                                                                                                                                                               |

| 32.1 |   | Certification                of Chief Executive Officer and Chief Financial Officer, James A.                Wheeler,                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. |
|------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**SIGNATURES**

|                                   | NW                TECH CAPITAL, INC. |
|----------------------------------------|--------------------------------------|
|                                   |                                 |   |
|                                   | By:                        | /s/                James A. Wheeler |
|                                   |                                 | James                A. WheelerCEO,                CFO, President and Director |
|                                   |                                 |   |
| Dated:                November 7, 2008 |                                 |   |

----

**EXHIBIT      INDEX**

| Exhibit                No. |   | Description |
|----------------------------|--------|-------------|
|                       |   |        |

| 4.1 |   | Amendment                of Designation After Issuance of Class or Series for Series B “Super                Voting” Preferred Stock (incorporated by reference to Exhibit 4.1 to the                Company’s Quarterly Report on Form 10Q for the quarter ended March 31,                2008, filed with the SEC on May 14,                2008). |
|-----|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |                                                                                                                                                                                                                                                                                                                    |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.2    |   | Certificate                of Designation for Series E Convertible Preferred Stock (incorporated                by                reference to Exhibit 4.2 to the Company’s Quarterly Report on Form 10Q for                the quarter ended March 31, 2008, filed with the SEC on May 14,                2008). |
|   |   |                                                                                                                                                                                                                                                                                                                    |

| 4.3 |   | Certificate                of Designation for Series F Convertible Preferred Stock (incorporated                by                reference to Exhibit 4.3 to the Company’s Quarterly Report on Form 10Q for                the quarter ended March 31, 2008, filed with the SEC on May 14,                2008). |
|-----|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |                                                                                                                                                                                                               |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1   |   | Certification                of Chief Executive Officer and Chief Financial Officer, James A.                Wheeler,                pursuant to Rules 13a-14(a) and 15d-14(a) of the Exchange                Act. |
|   |   |                                                                                                                                                                                                               |

| 32.1 |   | Certification                of Chief Executive Officer and Chief Financial Officer, James A.                Wheeler,                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. |
|------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----