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

                                  FORM 10-QSB/A
                                   (Mark One)

|X|   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

                      For the Quarter ended March 31, 2006

|_|   TRANSITION REPORT UNDER SECITON 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

           For the transition period from ___________ to _____________

                         Commission file number: 0-31457

                          NUEVO FINANCIAL CENTER, INC.
                 (Name of small business issuer in its charter)

<TABLE>
<S>                               <C>                          <C>
            DELAWARE                         5045                  23-3048444
(State or other jurisdiction of       (Primary Standard          (I.R.S. Employer
 incorporation or organization)   Industrial Classification)   Identification No.)
</TABLE>

                             2112 Bergenline Avenue
                              Union City, NJ 07087

   (Address, including zip code, and telephone number, including area code, of
                    registrant's principal executive offices)

                            Telephone: (201) 537-0956
                           (Issuer's telephone number)

    _________________________________________________________________________
          (Former name or former address, if changed since last report)

       Securities registered under Section 12(b) of the Exchange Act: None

         Securities registered under Section 12(g) of the Exchange Act:

                                  COMMON STOCK
                                (Title of Class)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. |X| Yes |_| No

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 25,668,223 as of October 12, 2006.

Indicate by check mark whether the registrant is a shell company (as defined in
rule 12b-2 of the Exchange Act). Yes |_| No |X|

<PAGE>

                                TABLE OF CONTENTS

                                                                    Page Numbers
                                                                    ------------
PART I - FINANCIAL INFORMATION

Item 1. Financial Statements
          |X| Condensed Balance Sheets                                   3
          |X| Condensed Statements of Operations                         4
          |X| Condensed Statements of Cash Flows                         5
          |X| Notes to Condensed Financial Statements                  6 - 11
Item 2. Management's Discussion & Analysis of Financial Condition
          and Results of Operations                                    12 - 14
Item 3. Controls and Procedures                                         14

PART II - OTHER INFORMATION

Item 1. Legal Proceedings                                               15
Item 2. Unregistered Sales of Equity Securities and Use of
          Proceeds                                                      15
Item 3. Defaults Upon Senior Securities                                 15
Item 4. Submission of Matters to a Vote of Security Holders             15
Item 5  Other Information                                               15
Item 6. Exhibits and Reports on Form 8-K                                15

SIGNATURES                                                              16


                                        2

<PAGE>

                         PART 1 - FINANCIAL INFORMATION

Item 1. Financial Statements

                          NUEVO FINANCIAL CENTER, INC.
                            CONDENSED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                    March 31, 2006   December 31, 2005
                                                    --------------   -----------------
                                                      (unaudited)        (audited)
                                     ASSETS
<S>                                                  <C>                <C>
Current Assets
  Cash                                               $    60,706        $    90,873
  Accounts receivable                                     49,680             47,000
  Inventory                                                3,105              7,099
  Prepaid income taxes                                       250                250
                                                     -----------        -----------
Total current assets                                 $   113,741        $   145,222
Property and equipment
  Machinery and equipment                                440,596            440,596
  Furniture, fixtures, and improvements                  180,671            180,671
  Leasehold improvements                                 613,614            610,100
                                                     -----------        -----------
                                                       1,234,881          1,231,367
  Less: accumulated depreciation and amortization       (686,770)          (675,620)
                                                     -----------        -----------
Total property and equipment                             548,111            555,747
Other assets
  Security deposits                                       52,050             52,050
                                                     -----------        -----------
Total assets                                         $   713,902        $   753,019
                                                     ===========        ===========
                      LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
  Current liabilities
    Accounts payable                                 $   294,825        $   298,890
    Notes payable                                        425,000            425,000
    Convertible note payable                              91,973                 --
    Closed store reserve                                  27,270                 --
                                                     -----------        -----------
Total current liabilities                            $   839,068        $   723,890
Shareholders' equity
  Capital stock                                           23,700             23,700
  Additional paid-in capital                           3,295,595          3,294,925
  Retained earnings                                   (3,444,461)        (3,289,496)
                                                     -----------        -----------
Total shareholders' equity                              (125,166)            29,129
                                                     -----------        -----------
Total liabilities and shareholders' equity           $   713,902        $   753,019
                                                     ===========        ===========
</TABLE>

The accompanying notes are an integral part of these condensed financial
statements.


                                        3

<PAGE>

                          NUEVO FINANCIAL CENTER, INC.
                 CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)

                                              For the Three Months
                                                 Ended March 31,
                                            -------------------------
                                                2006          2005
                                            -----------   -----------
Net Revenues                                $   787,063   $   515,074
Cost of sales                                   469,609       401,532
                                            -----------   -----------
Gross profit                                    317,454       113,542
Total general and administrative expenses       473,140       421,636
                                            -----------   -----------
Loss from operations                           (155,686)     (308,094)
Other income and (expense)
  Miscellaneous income                            2,500            --
  Penalties                                      (1,779)      (12,000)
                                            -----------   -----------
Total other income and (expense)                   (721)      (12,000)
                                            -----------   -----------
Loss before taxes                              (154,965)     (320,094)
Provision for federal income taxes                   --            --
                                            -----------   -----------
Net loss                                    $  (154,965)  $  (320,094)
                                            ===========   ===========
Net loss per common share:
Basic                                       $     (0.01)  $     (0.01)
                                            ===========   ===========
Diluted                                     $     (0.01)  $     (0.01)
                                            ===========   ===========
Weighted average number of common shares
Basic                                        23,700,000    23,700,000
                                            ===========   ===========
Diluted                                      24,879,642    24,700,000
                                            ===========   ===========

The accompanying notes are an integral part of these condensed financial
statements.


                                        4

<PAGE>

                          NUEVO FINANCIAL CENTER, INC.
                 CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                                       For the Three Months
                                                         Ended March 31,
                                                      ---------------------
                                                         2006        2005
                                                      ---------   ---------
Cash flows from operating activities
  Net loss                                            $(154,965)  $(320,094)
  Adjustments to reconcile net income to net cash
    provided by (used in) operating activities
      Depreciation                                       11,150      48,902
      Compensation expense for share-based payments         670          --
      (Increase) decrease in:
        Accounts receivable                              (2,680)         --
        Inventory                                         3,994      75,641
        Security deposits                                    --      52,146
      Increase (decrease) in:
        Accounts payable and accrued liabilities         (4,065)    157,567
        Closed store reserve                             27,270          --
                                                      ---------   ---------
Net cash used in operating activities                 $(118,626)  $  14,162
Cash flows from investing activities
  Acquisition of equipment                               (3,514)    (29,000)
                                                      ---------   ---------
    Net cash used in investing activities                (3,514)    (29,000)
Cash flows from financing activities
  Proceeds from convertible note                         91,973      25,000
                                                      ---------   ---------
Net cash provided by financing activities                91,973      25,000
                                                      ---------   ---------
Net increase (decrease) in cash                       $ (30,167)  $  10,162
Cash
  Beginning of year                                   $  90,873   $   9,277
                                                      ---------   ---------
  End of year                                         $  60,706   $  19,439
                                                      =========   =========
Supplemental disclosures:
  Interest paid                                       $      --   $      --
                                                      =========   =========
  Taxes paid                                          $      --   $      --
                                                      =========   =========

The accompanying notes are an integral part of these condensed financial
statements.


                                        5

<PAGE>

                          NUEVO FINANCIAL CENTER, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                 March 31, 2006

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization

Nuevo Financial Center, Inc. ("Company", "Registrant" or "Nuevo"), formerly
Millennium Capital Venture Holdings, Inc. ("MCVH"), was incorporated in the
State of Delaware on June 2, 2000 to serve as a vehicle to effect an
acquisition, merger, exchange of capital stock or other business combination
with a domestic or foreign corporation.

On March 24, 2003, the Company acquired all of the issued and outstanding shares
of Mada Multimedia Inc., a Quebec corporation ("Mada"), which was formed to
design, produce and market multimedia applications in the financial education
sector, as well as training courses and simulations in the stock trading sector.
However, operations of Mada never commenced.

On March 11, 2005 ("Closing Date"), the Company completed the acquisition of
Telediscount Communications Inc., ("Telediscount"). The acquisition has been
accounted for as a reverse merger recapitalization. While MCVH was the surviving
corporation, Telediscount represented the accounting acquirer, whereby the
historical financial statements presented herein are those of Telediscount.

Telediscount, a New York corporation, was incorporated in June 1998, primarily
to provide telecommunication, long distance service, wire transfers service,
phone cards, internet, cellular, accessories, bill payment, and other related
products and services through retail stores. Pursuant to an Agreement and Plan
of Merger (collectively, the "Merger") all of the outstanding shares of
Telediscount's common stock were converted into shares of MCVH common stock
("Common Stock") on the Closing Date.

On November 18, 2005, MCVH changed its name to Nuevo, to more accurately reflect
its changing business strategy.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Interim Financial Statements

The accompanying interim unaudited financial information has been prepared
pursuant to the rules and regulations of the Securities and Exchange Commission.
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with accounting principles generally accepted
in the United States of America have been condensed or omitted pursuant to such
rules and regulations, although management believes that the disclosures are
adequate to make the information presented not misleading. In the opinion of
management, all adjustments, consisting only of normal recurring adjustments,
necessary to present fairly the financial position of the Company as of March
31, 2006 and the related operating results and cash flows for the interim period
presented have been made. The results of operations of such interim period are
not necessarily indicative of the results of the full year. This financial
information should be read in conjunction with the Consolidated Financial
Statements and Notes thereto included in the Company's Annual Report on Form
10-KSB for the year ended December 31, 2005. There have been no changes in
significant accounting policies since December 31, 2005.


                                        6

<PAGE>

                          NUEVO FINANCIAL CENTER, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                 March 31, 2006

Stock Based Compensation Plans

Stock options are issued to members of management as a form of compensation.
There is no formal plan or award for these options. Rather, stock options are
issued at the discretion of the Board of Directors ("Board"). The options are
exercisable at the end of three years and can be subject to Board approval and
recession and expire four years after their exercise date.

As of March 31, 2006, there were 1,000,000 outstanding stock options granted to
current and former management for purchase at $0.001 per share. The options,
which remain in effect at March 31, 2006, have a grant date of September 2,
2000, an exercise date of September 2, 2003 and an expiration date of September
2, 2007. As of March 31, 2006, no options have been exercised.

Compensation cost recognized in the three months ended March 31, 2006 was $670.
Compensation cost was calculated using the Black - Scholes model with the
following assumptions: $.001 exercise price; average remaining life of 1.75
years; $0.001 stock price; 1.35 risk free rate; and 50% volatility.

Registration Rights Agreement

EITF Issue No. 05-4 "The Effect of a Liquidated Damages Clause on a Freestanding
Financial Instrument Subject to EITF Issue No. 00-19, Accounting for Derivative
Financial Instruments Indexed to, and Potentially Settled in, a Company's Own
Stock" ("EITF No. 05-4") addresses financial instruments, such as stock purchase
warrants, which are accounted for under EITF 00-19 that may be issued at the
same time and in contemplation of a registration rights agreement that includes
a liquidated damages clause. The consensus for EITF No. 05-4 has not been
finalized. In May 2006, the Company entered into a secured convertible note
agreement, a registration rights agreement and warrants (see Note 5 - Subsequent
Events). Based on the interpretive guidance in EITF Issue No. 05-4, view C,
since the registration rights agreement includes provisions for uncapped
liquidated damages, the Company determined that the registration rights is a
derivative liability. However, due to various factors including substantial
conversion of these convertible notes and the Company's expectation that the
registration statement will be approved within the specified time period, the
value of the registration rights was deemed to be de minimus and therefore no
liability was recorded.

In accounting for the convertible notes and the warrants, the Company considered
the guidance contained in EITF 00-19 and SFAS 133 "Accounting for Derivative
Instruments and Hedging Activities." In accordance with the guidance provided in
EITF 00-19, the Company determined that the conversion feature of the
convertible notes represents an embedded derivative since the note is
convertible into a variable number of shares upon conversion and a liquidated
damage clause contained in the registration rights agreement requires the
Company to pay liquidated damages of 1.5% per month of the outstanding principal
amount of the notes, in cash or shares of common stock to the note holders in
the event that a registration statement covering the shares underlying the
convertible notes and warrants is not declared effective. Accordingly, the
convertible notes are not considered to be "conventional" convertible debt under
EITF 00-19 and thus the embedded conversion feature must be bifurcated from the
debt host and accounted for as a derivative liability. The value of this
liability is deemed to be de minimus, and therefore, no liability was recorded.

NOTE 3 - COMMITMENTS AND CONTINGENCIES

Litigation

The Company was recently named as an additional defendant in a lawsuit against
the City of New York for an alleged slip and fall which purportedly occurred
near a former location of the Company. At this time, the Company has no
information as to the extent of the claim and has hired an attorney to
investigate the matter further.


                                        7

<PAGE>

                          NUEVO FINANCIAL CENTER, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                 March 31, 2006

There is no other litigation currently pending or being threatened by or against
the Company.

Guarantee

In December 2002, the Financial Accounting Standards Board ("FASB") issued
Interpretation No. 45, "Guarantor's Accounting and Disclosure Requirements ("FIN
45")." FIN 45 requires the disclosure of any guarantees in place at December 31,
2002 and the recognition of a liability for any guarantees entered into or
modified after that date.

As part of the daily services provided to customers, the Company acts as an
agent and will collect and remit funds internationally through an agreement with
third-party transmitters. These funds are held in safes at the Company's various
retail locations, until picked up by these third parties, which can vary from
several times a day to a few times per week. The Company has guaranteed, under
agreements entered into between 1999 and 2003, the payment of all sums due and
owing to these third parties. In the event of default, the Company is liable for
any amounts due, along with any attorney's fees and costs associated with the
enforcement of terms.

As of March 31, 2006, the Company held a total of $57,953 throughout its various
locations. The Company has included these amounts as accrued liabilities at the
end of the year.

NOTE 4 - NOTE PAYABLE

On February 11, 2005, the Company entered into a bridge loan agreement ("Bridge
Loan") with Finkelstein Capital, Inc. (FCI) in the amount of $425,000. Under the
terms of the Bridge Loan, it was to be repaid with interest at the rate of five
(5%) percent per annum, at the earlier of July 1, 2005, or in the event the
Company completed a subsequent financing in the amount of $5,000,000
("Subsequent Financing"). In addition, FCI was to receive a finder's fee in the
amount of 5% of the Bridge Financing, to be paid at the closing of a Subsequent
Financing. Since the Company has not yet completed any such Subsequent
Financing, the Company and FCI are currently renegotiating the repayment terms
of the Bridge Loan. As such, until the terms of the Bridge Loan have been
finalized, the Company has reclassified this Bridge Loan to a current liability.
Accrued interest expense in connection with the Bridge Loan for the three months
ended March 31, 2006 was $5,240.

On March 25, 2006, the Company entered into a Convertible Promissory Note
("Convertible Note") with certain investors ("Investors"), in the amount of
$91,973. The terms of the Convertible Note, due April 1, 2007, are as follows:

      o     Term -

            12 Months from date of issuance;

      o     Amount -

            Convertible Note shall be redeemed or converted on the gross
            proceeds, including interest, which accrues at a rate of 10% per
            annum from the closing date to the conversion date;


                                        8

<PAGE>

                          NUEVO FINANCIAL CENTER, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                 March 31, 2006

      o     Voluntary conversion -

            Cash - Investors have the right to convert the Convertible Note into
            cash, including the coupon, at their sole option at any time, but
            only after the Company has raised $1 million dollars in any type of
            financing; or,

            Common Stock - Investors may convert principal and interest into
            common shares at any time;

      o     Mandatory redemption -

            Upon closing of the proposed transaction, the balance of the
            Convertible Note and all accrued interest will be subject to a
            mandatory redemption into cash. Investors may elect to convert the
            Convertible Note into stock at any time on or before the closing of
            the transaction and only after the SB-2 filing becomes effective.

There are no other provisions, other than noted above, in which the Company or
the Investor can accelerate payment. In addition, there are no provisions by
which liquidated damages are required.

NOTE 5 - SUBSEQUENT EVENTS

On April 24, 2006, the Investors exercised their option to convert the principal
amount of the Convertible Note together with interest of $756, into 2,318,233
shares of Common Stock at a price of $.04 per share of Common Stock.

On May 2, 2006, the Company entered into a Secured Convertible Note ("Secured
Note") in the amount of $500,000 with Vision Opportunity Capital Partners, LP
("Vision"). The Company simultaneously entered into a Securities Purchase
Agreement, Security Agreement, and Unit Purchase Warrant (collectively, the
"Agreements").

These Agreements allow for the purchase of $500,000 of Units, each of which
consists of:

      o     Secured convertible promissory notes;

      o     Class A warrants ("A Warrants") to purchase 1,000,000 shares of
            common stock at $.50 per share;

      o     Class B warrants ("B Warrants") to purchase 500,000 shares of common
            stock at $1.00 per share; and,

      o     Unit Purchase Warrant to purchase a unit consisting of shares of
            Common Stock and Class A and Class B Warrants ("Warrant Shares").

The relevant terms of the Secured Note are as follows:

      o     Term -

            The Secured Note is due on the earliest of: (i) the completion of a
            financing in which the Company receives no less than $2,500,000 in
            gross proceeds ("Eligible Financing"), or (ii) one year after the
            date of exercise by Vision of the Unit Purchase Warrant;

      o     Amount -

            The Secured Note shall be redeemed or converted on the gross
            proceeds, including interest, which accrues at a rate of 10% per
            annum from the closing date to the conversion date.


                                        9

<PAGE>

                          NUEVO FINANCIAL CENTER, INC.
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                 March 31, 2006

      o     Voluntary conversion -

            Common Stock - Under the terms of the Agreements, Vision has the
            right to convert, at its sole option, a portion or all amounts of
            principal and interest due and outstanding under this Note into
            shares of Common Stock at a price (the "Conversion Price") equal to
            the greater of (i) if before the completion of an Eligible
            Financing, (A) 60% of the daily volume weighted average price
            ("VWAP" of the Common Stock for ten trading days ending on the last
            trading day prior to the conversion date, or (B) $.50 or, (ii) if
            after November 30, 2006, if an Eligible Financing shall not have
            been consummated by that date (X) 60% of the VWAP for the ten
            trading days ending on the last trading day prior to the conversion
            date, or (Y) $.20.

The Company received proceeds of $484,600, net of legal fees, documentation
costs and filings fees of $15,400. In connection with the Secured Note, A
Warrants to purchase 1,000,000 common shares were issued to the holders at an
exercise price per share of $0.50 and B Warrants to purchase 500,000 shares at a
price per share of $1.00. The warrants are exercisable immediately and expire
five years from date of grant through April 2011. The fair market value of both
classes of stock warrants granted is estimated on the date of grant using the
Black - Scholes option pricing model, in accordance with SFAS No. 123 using the
following weighted-average assumptions: expected dividend yield 0%, risk-free
interest rate of 4.90%, volatility ranging from 50% to 100% and expected term of
5 years. Due to the strike price being greater than the current stock price at
the date of issuance, the fair value warrants were considered to be de minimis
and, therefore, no adjustment has been recorded to reflect their value.
Additionally, in connection with the Secured Note, the Company did not record
any beneficial conversion since the conversion price was greater than the fair
market value.

The Company has agreed to file a registration statement covering the shares of
Common Stock issuable upon conversion of the Secured Note within 120 calendar
days of the effective date and use reasonable best efforts to have such
registration statement be declared effective within 180 calendar days. The
Company will pay the holders of the Secured Note, as partial liquidated damages
and not as a penalty, equal to 1.5% of the aggregate subscription amount paid by
such holder pursuant to the Securities Purchase Agreement for any registrable
securities then held by such holder until all registrable securities become
eligible for sale under Rule 144. If the Company fails to pay any partial
liquidated damages pursuant to this section, in full, within seven days after
the date payable, the Company will pay interest thereon at a rate of 18% per
annum (or such lesser maximum amount that is permitted to be paid by applicable
law) to the holder, accruing daily from the date such partial liquidated damages
are due until such amounts, plus all such interest thereon, are paid in full.
The partial liquidated damages pursuant to the terms hereof shall apply on a
daily pro-rata basis for any portion of a month prior to the cure of an event.


The Company evaluates the provisions of the Secured Note periodically to
determine whether any of the provisions would be considered embedded derivatives
that would require bifurcation under Statement of Financial Accounting Standards
No. 133, "Accounting for Derivative Instruments and Hedging Activities" ("SFAS
133"). Because the shares of Common Stock underlying the Secured Note have not
been registered for resale, they are not readily convertible to cash. Thus, the
conversion option does not meet the net settlement requirement of SFAS No. 133
and would not be considered a derivative if freestanding. Accordingly, the
Secured Note does not contain an embedded conversion feature that must be
bifurcated. Once the underlying shares of Common Stock are registered we may
determine that our Notes contain an embedded conversion feature that would
require bifurcation from the Secured Note. At that time, the fair value of the
embedded derivatives would be bifurcated from the Secured Note and recorded as a
non-current liability with an offset recorded as a discount to the Secured Note
that would be amortized to interest expense over the remaining life of the
Secured Note using the effective interest method. The fair value of the embedded
derivatives would be revalued each reporting period with the change in the fair
value recorded as other income or expense in the statement of operations. The
Company identified certain other embedded derivatives and concluded their value
was de minimus.


                                       10

<PAGE>

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

The previous discussion and other sections of this Form 10-QSB/A contain
forward-looking statements that have been made pursuant to the provisions of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on current expectations, estimates and projections about
our industry, management's beliefs and certain assumptions made by management.
Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates," "may," and similar expressions are intended to identify
forward-looking statements. These statements are not guarantees of future
performance and actual actions or results may differ materially. These
statements are subject to certain risks, uncertainties and assumptions that are
difficult to predict. The Company undertakes no obligation to update publicly
any forward-looking statements as a result of new information, future events or
otherwise, unless required by law. Readers should, however, carefully review the
risk factors included in other reports or documents filed by the Company from
time to time with the Securities and Exchange Commission.

Results of Operations

For the Three Months Ended March 31, 2006 as compared to March 31, 2005

Since its inception on June 2, 2000 through March 11, 2005, the date of the
Merger, the Company had no operations and was considered to be in the
development stage as defined in Statement of Financial Accounting Standards No.
7. Therefore, comparative results for the three months ended March 31, 2006 as
compared to the same period in 2005 are immaterial, since prior to the Merger,
the Company had no operations and was considered to be in the development stage
as defined in Statement of Financial Accounting Standards No. 7.

Notwithstanding the foregoing, the following is a comparison of the three months
ended March 31, 2006 and the same period in 2005, as though the acquired entity
was part of the Company prior to the Merger.

Net sales of company-owned stores increased $271,989, or 52.8%, to $787,063, for
the three months ended March 31, 2006 as compared to $515,074 for the same
period in 2005, primarily due to additional services available at the beginning
of the year, which were not offered during the first half of 2005. For the three
months ended March 31, 2006, approximately 35% of the Company's revenue was
derived from long distance telephone calls, while revenues generated from bill
payment and wire remittance services, as well as the sale of cellular phones and
prepaid cellular cards, each contributed approximately 13-14%. The remainder was
derived from miscellaneous services such as internet access, prepaid long
distance phone cards, photo IDs, courier and mailbox services, faxing and
copying.

Selling, general and administrative expenses increased $51,504, or 12.2%, to
$473,140, for the three months ended March 31, 2006 as compared to $421,636 for
the same period in 2005, primarily due to increases in administrative salaries,
cleaning and maintenance, consulting services, as well as a closed store reserve
of $27,270, which represents the net book value of assets and any projected
costs in anticipation of the closing of one of the Company's retail locations
upon the expiration of its lease on June 30, 2006.

The Company had a net loss of $154,965 for the three months ended March 31,
2006, as compared to a net loss of $308,094 for the same period in 2005,
primarily due to the increase in revenues discussed above.

Liquidity and Capital Resources

As of March 31, 2006, the Company had negative working capital of $725,327 and
cash on hand of 60,706.

During the three months ended March 31, 2006, the Company's operating activities
used approximately $119,000 of cash. This was principally due to the net loss of
$155,000, an increase in accounts receivable of $2,700, and a decrease in
accounts payable and accrued liabilities of $4,000, partially offset by non-cash
items of $11,800, decreases in inventory of $4,000 and a reserve for closed
stores of $27,000. The Company believes it can improve its operating cash flows
by continuously monitoring its Company-owned stores by new marketing strategies,
increasing its gross margins, through the introduction of financial products and
services, cost containment, among other things.


                                       11

<PAGE>

For the three months ended March 31, 2006, cash flows used in investing
activities were approximately $3,500, primarily due to miscellaneous equipment
purchases.

For the three months ended March 31, 2006, cash flows generated by financing
activities were approximately $92,000 raised from the Convertible Promissory
Note (See Note 4 - Notes Payable, included in the Notes to Consolidated
Financial Statements of this Report).

In addition to the Convertible Promissory Note, the Company raised additional
capital during the second quarter of 2006 (See Note 5 - Subsequent Events,
included in the Notes to Consolidated Financial Statements of this Report),
which the Company believes provides it sufficient financial resources to fund
its current operations for the year ended December 31, 2006. Notwithstanding the
foregoing, the Company is seeking additional capital to execute its revised
business plan. However, there can be no assurance that the Company will be able
to secure such additional financing or whether such financing, if obtained, will
be available on terms favorable to the Company.

Plan of Operation

The following plan of operation for the Company covers the twelve (12) month
period commencing from the date of this quarterly report.

The Company will continue to review and improve its existing operations by
monitoring store performance, introducing new products and services,
implementing aggressive marketing programs, and instituting employee sales
training programs, cost containment, amongst other things.

As part of these initiatives, the Company is seeking to expand it's
predominantly telecommunications based operations into "financial centers". As
such, the Company proposes to offer higher margin financial products, such as
real estate, travel, insurance, mortgages and other financial products and
services to its customers.

The Company will continue to seek the additional financing it requires to
implement its conversion and expansion strategy. The Company has defined a list
of actions that have already been undertaken or which it hopes to begin
implementing in 2006 to achieve its growth plans:

      o     Secure key strategic partnerships with financial institutions and
            Latin America retailers

      o     Complete strategic acquisitions for select financial services with
            license requirements

      o     Receive permits and licenses to provide financial services not
            secured through acquisition

      o     Institute a centralized technology platform and database to process
            financial transactions

      o     Implement aggressive market campaigns to the Hispanic community

      o     Develop a turnkey franchise program

      o     Create e-commerce website, and

      o     Recruit a world class management team.

Off-Balance Sheet Arrangements

An off-balance sheet arrangement is any contractual arrangement involving an
unconsolidated entity under which a company has (a) made guarantees, (b) a
retained or a contingent interest in transferred assets, (c) any obligation
under certain derivative instruments or (d) any obligation under a material
variable interest in an unconsolidated entity that provides financing,
liquidity, market risk, or credit risk support to the company, or engages in
leasing, hedging, or research and development services within the Company.


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<PAGE>

The Company does not have any off-balance sheet financing or unconsolidated
variable interest entities, with the exception of certain guarantees on leases.

Item 3. CONTROLS AND PROCEDURES

a)    Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of management, including the
Company's Chief Executive Officer and Chief Financial Officer, the Company
evaluated the effectiveness of the design and operation of its disclosure
controls and procedures (as such term is defined in Rule13a-15(e) under the
Securities Exchange Act of 1934 (the "Exchange Act")). Disclosure controls and
procedures are the controls and other procedures that the Company designed to
ensure that it record, process, summarize and report in a timely manner the
information the Company must disclose in reports that it files with or submit to
the Securities and Exchange Commission under the Exchange Act. Based on this
evaluation, the Company's Chief Executive Officer and Chief Financial Officer
concluded that the Company's disclosure controls and procedures were effective
as of the end of the period covered by this report.

Disclosure controls and procedures are controls and procedures that are designed
to ensure that information required to be disclosed in the Company's reports
filed or submitted under the Securities Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the Securities and
Exchange Commission's rules and forms. Disclosure controls and procedures
include, without limitation, controls and procedures designed to ensure that
information required to be disclosed in the Company's reports filed under the
Exchange Act is accumulated and communicated to management, including the
Company's principal executive officer and principal financial officer, as
appropriate, to allow timely decisions regarding required disclosure.

b)    Changes in Internal Control over Financial Reporting

During the quarter ended March 31, 2006, there was no change in the Company's
internal control over financial reporting (as such term is defined in Rule
13a-15(f) under the Exchange Act) that has materially affected, or is reasonably
likely to materially affect, the Company's internal control over financial
reporting.


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<PAGE>

                           PART II - OTHER INFORMATION

Item 1. LEGAL PROCEEDINGS

Not applicable.

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

Item 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

Item 5. OTHER INFORMATION

Not applicable.

Item 6. EXHIBITS AND REPORTS ON 8-K

A.        Exhibits

(10.2)    Form of Convertible Promissory Note, dated March 25, 2006 between the
          Company and Certain Current Shareholders (incorporated by reference as
          Exhibit 10.2 to the Company's Form 10-KSB for the quarter ended March
          31, 2006 filed on August 15, 2006).

(31.1)*   Certification of Chief Executive Officer Pursuant to Section 302 of
          the Sarbanes-Oxley Act.

(31.2)*   Certification of Principal Financial and Accounting Officer Pursuant
          to Section 302 of the Sarbanes-Oxley Act.

(32.1)*   Certification of Chief Executive Officer Pursuant to Section 906 of
          the Sarbanes-Oxley Act.

(32.2)*   Certification of Principal Financial and Accounting Officer Pursuant
          to Section 906 of the Sarbanes-Oxley Act.

*         Exhibit being filed herewith.

B.        Reports on Form 8-K

None.


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<PAGE>

                                   SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

NUEVO FINANCIAL CENTER, INC.


DATE: November 8, 2006                  /s/ Jose Araque
                                        ------------------------
                                        Jose Araque
                                        President, CEO and Chairman


DATE: November 8, 2006                  /s/ Jose Araque
                                        ------------------------
                                        Jose Araque
                                        Chief Accounting Officer


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