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

                                   FORM 10-QSB

MARK ONE

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

              For the quarterly period ended June 30, 2006
                                             -------------

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

             For the transition period from           to
                                           ----------    ----------

             Commission file number:     0-49638
                                         -------

                    INTERNATIONAL COMMERCIAL TELEVISION INC.
                    ----------------------------------------
        (Exact name of small business issuer as specified in its charter)

--------------------------------------------------------------------------------
                Nevada                               76-0621102
--------------------------------------  ----------------------------------------
    State or other jurisdiction of         (IRS Employer Identification No.)
    incorporation or organization
--------------------------------------------------------------------------------


              10245 Sunrise Place NE, Bainbridge Island, WA  98110
              ----------------------------------------------------
                    (Address of principal executive offices)


                                 (206) 842-3729
                                 --------------
                           (Issuer's telephone number)


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

Indicate  by check mark whether the registrant is a shell company (as defined by
Rule  12b-2  of  the  Exchange  Act).                            Yes [ ]  No [X]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest practicable date: As of August 1, 2006, the Issuer had
10,693,188  shares  of  common  stock,  par  value  $0.001 per share, issued and
outstanding.

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


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

<S>                                                                 <C>

PART I - FINANCIAL INFORMATION
------------------------------

ITEM 1.  FINANCIAL STATEMENTS                                        1

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION  22

ITEM 3.  CONTROLS AND PROCEDURES                                    25


PART II - OTHER INFORMATION
---------------------------

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K                           26

SIGNATURES                                                          27
</TABLE>


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

<S>      <C>                                                                                  <C>

ITEM 1.  FINANCIAL STATEMENTS

         Consolidated Balance Sheet as of June 30, 2006 (unaudited)                              2

         Consolidated Statements of Operations for the three months ended June 30, 2006 and
             2005 (unaudited) and for the six months ended June 30, 2006 and 2005
             (unaudited)                                                                         3

         Consolidated Statements of Deficiency in Assets for the six months ended June 30,
             2006 (unaudited)                                                                    4

         Consolidated Statements of Cash Flows for the six months ended June 30, 2006 and
             2005 (unaudited)                                                                    5

         Notes to the Consolidated Financial Statements                                       6-21
</TABLE>


                                     Page 1
<PAGE>
<TABLE>
<CAPTION>
            INTERNATIONAL COMMERCIAL TELEVISION INC. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEET
                               AS OF JUNE 30, 2006
                                   (Unaudited)
                                    ---------


                                                                   June 30,
                                                                     2006
                                                                 ------------

                                     ASSETS
                                     ------
<S>                                                              <C>
CURRENT ASSETS:
  Cash and cash equivalents                                      $    60,950
  Accounts receivable                                                146,576
  Inventory                                                          105,645
  Prepaid expenses and deposits                                       58,054
  Deferred tax asset less valuation allowance of $3,119,000                -
                                                                 ------------
    Total current assets                                             371,225
                                                                 ------------

FURNITURE AND EQUIPMENT:
  Furniture and equipment                                            120,169
  Less accumulated depreciation                                      102,140
                                                                 ------------
    Furniture and equipment, net                                      18,029
                                                                 ------------

      Total assets                                               $   389,254
                                                                 ============


                     LIABILITIES AND DEFICIENCY IN ASSETS
                     ------------------------------------

CURRENT LIABILITIES:
  Accounts payable and accrued liabilities                       $   255,325
  Accounts payable and accrued liabilities - related parties         151,793
  Due to related parties                                             459,488
                                                                 ------------
    Total current liabilities                                        866,606
                                                                 ------------

NOTE PAYABLE TO SHAREHOLDER                                          590,723
                                                                 ------------

COMMITMENTS AND CONTINGENCIES (NOTE 4)

DEFICIENCY IN ASSETS:

  Common stock, $0.001 par value, 100,000,000
  shares authorized, 10,693,188 issued and
  outstanding as of  June 30, 2006                                       594
  Additional paid-in-capital                                         308,245
  Accumulated deficit                                             (1,376,914)

                                                                 ------------
    Total deficiency in assets                                    (1,068,075)
                                                                 ------------

      Total liabilities and deficiency in assets                 $   389,254
                                                                 ============
<FN>
The accompanying notes are an integral part of these consolidated financial
statements.
</TABLE>


                                     Page 2
<PAGE>
<TABLE>
<CAPTION>
                         INTERNATIONAL COMMERCIAL TELEVISION INC. AND SUBSIDIARIES

                                   CONSOLIDATED STATEMENTS OF OPERATIONS
                         FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2006 AND 2005
                                                (Unaudited)
                                                 ---------


                                             For the three months ended       For the six months ended
                                            ------------------------------  ------------------------------
                                            June 30, 2006   June 30, 2005   June 30, 2006   June 30, 2005
                                            --------------  --------------  --------------  --------------
<S>                                         <C>             <C>             <C>             <C>
NET SALES                                   $     180,484   $     418,116   $     502,573   $   1,456,934
COST OF SALES                                     144,447         179,766         273,944         620,126
                                            --------------  --------------  --------------  --------------
GROSS PROFIT                                       36,037         238,350         228,629         836,808
                                            --------------  --------------  --------------  --------------

OPERATING EXPENSES:
  Depreciation                                      2,173           4,687           6,860           9,374
  General and administrative                      192,972         145,810         308,718         245,359
  Selling and marketing                            56,464           4,033         141,363         215,275
  Rent                                              4,083           5,722           9,159          11,915
                                            --------------  --------------  --------------  --------------
    Total operating expenses                      255,692         160,252         466,100         481,923
                                            --------------  --------------  --------------  --------------

OPERATING INCOME (LOSS)                          (219,655)         78,098        (237,471)        354,885

INTEREST EXPENSE:
  Interest expense                                  1,196           1,007           1,812           3,088
                                            --------------  --------------  --------------  --------------
    Total interest expense                          1,196           1,007           1,812           3,088
                                            --------------  --------------  --------------  --------------

INCOME (LOSS) BEFORE INCOME TAXES                (220,851)         77,091        (239,283)        351,797

INCOME TAXES
  Income tax expense                                    -          26,211               -         119,611
  Tax benefit of net operating loss
  carry forward                                         -         (26,211)              -        (119,611)
                                            --------------  --------------  --------------  --------------

INCOME TAXES                                            -               -               -               -
                                            --------------  --------------  --------------  --------------

NET INCOME (LOSS)                           $    (220,851)  $      77,091   $    (239,283)  $     351,797
                                            ==============  ==============  ==============  ==============

BASIC NET INCOME (LOSS) PER SHARE           $       (0.02)  $        0.01   $       (0.02)  $         .03
                                            ==============  ==============  ==============  ==============

FULLY DILUTED NET INCOME (LOSS) PER SHARE   $       (0.02)  $        0.01   $       (0.02)  $         .03
                                            ==============  ==============  ==============  ==============
<FN>
The accompanying notes are an integral part of these consolidated financial statements.
</TABLE>


                                     Page 3
<PAGE>
<TABLE>
<CAPTION>
                                INTERNATIONAL COMMERCIAL TELEVISION INC. AND SUBSIDIARIES

                                     CONSOLIDATED STATEMENTS OF DEFICIENCY IN ASSETS


                                     Common Stock
                                   $0.001 par value           Additional
                               ---------------------------     Paid-In      Accumulated       Unearned
                                  Shares        Amount         Capital        Deficit       Compensation       Totals
                               ------------  -------------  -------------  --------------  --------------  --------------
<S>                            <C>           <C>            <C>            <C>             <C>             <C>
Balances, January 1, 2005        10,635,188  $         536  $     229,922  $  (1,545,498)  $     (32,000)  $  (1,347,040)

Stock-based compensation                  -              -         29,880              -               -          29,880

Amortization of deferred
  compensation under non-
  qualified stock option plan             -              -              -              -          16,000          16,000

Net income                                -              -              -        407,867               -         407,867
                               ------------------------------------------------------------------------------------------

Balances, December 31, 2005      10,635,188            536        259,802     (1,137,631)        (16,000)       (893,293)

Issuance of common stock             58,000             58         56,443                                         56,501

Amortization of deferred
  compensation under non-
  qualified stock option plan                                                                      8,000           8,000

Net loss                                  -              -              -       (239,283)              -        (239,283)
                               ------------------------------------------------------------------------------------------

Balances, June 30, 2006          10,693,188  $         594  $     316,245  $  (1,376,914)  $      (8,000)  $  (1,068,075)
                               ==========================================================================================
<FN>
The accompanying notes are an integral part of these consolidated financial statements.
</TABLE>


                                     Page 4
<PAGE>
<TABLE>
<CAPTION>
                INTERNATIONAL COMMERCIAL TELEVISION INC. AND SUBSIDIARIES

                          CONSOLIDATED STATEMENTS OF CASH FLOWS
                     FOR THE SIX MONTHS ENDED JUNE 30, 2006 AND 2005
                                       (Unaudited)
                                        ---------


                                                                   June 30,    June 30,
                                                                     2006        2005
                                                                  ----------  ----------
<S>                                                               <C>         <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net (loss) income                                               $(239,283)  $ 351,797
  Adjustments to reconcile net income (loss) to net cash
    provided by operating activities:
      Depreciation                                                    6,860       9,374
      Amortization of deferred compensation under nonqualified
        stock option plan                                             8,000       8,000
      Decrease (increase) in accounts receivable                    285,168      (8,491)
      Decrease (increase) in inventory                              (46,672)     30,618
      Decrease (increase) in prepaid expenses                       (26,898)      5,000
      Increase (decrease) in accounts payable and accrued
        liabilities                                                   7,565    (378,647)
                                                                  ----------  ----------
          Net cash (used in) provided by operating activities        (5,260)     17,651
                                                                  ----------  ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Additions to property and equipment                                (9,302)          -
                                                                  ----------  ----------
      Net cash used in financing activities                          (9,302)          -
                                                                  ----------  ----------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Advances from related parties                                     202,928           -
  Payments to related parties                                      (204,966)    (49,045)
  Proceeds from issuance of common stock                             56,500           -
                                                                  ----------  ----------
      Net cash provided by (used in) financing activities            54,462     (49,045)
                                                                  ----------  ----------

NET INCREASE (DECREASE) IN CASH                                      39,900     (31,394)

CASH, beginning of the period                                        21,050      95,191
                                                                  ----------  ----------

CASH, end of period                                               $  60,950   $  63,797
                                                                  ==========  ==========

SUPPLEMENTAL DISCLOSURES OF CASH FLOWS
INFORMATION:
  Interest paid                                                   $   1,812   $   3,088
                                                                  ==========  ==========
  Income taxes paid                                               $       -   $       -
                                                                  ==========  ==========
<FN>
The accompanying notes are an integral part of these consolidated financial statements.
</TABLE>


                                     Page 5
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

Interim  reporting
------------------

The  accompanying  unaudited consolidated interim financial statements have been
prepared  by  the  Company  in  accordance  with  the  rules  and regulations of
Regulation S-B as promulgated by the Securities and Exchange Commission.  In the
opinion of management, the accompanying unaudited consolidated interim financial
statements  contain  all  adjustments  necessary (consisting of normal recurring
accruals)  to  present  fairly the financial information contained therein.  The
accompanying  unaudited interim consolidated financial statements do not include
all  disclosures  required  by  generally  accepted accounting principles in the
United  States  of  America.  The results of operations for the six month period
ended  June  30, 2006, may not necessarily be indicative of the results that may
be expected for the year ended December 31, 2006. These financial statements and
notes  should  be  read  in  conjunction with our audited consolidated financial
statements  and  notes  thereto for the year ended December 31, 2005 included in
our  Annual  Report  on  form  10-KSB.

Organization
------------

International  Commercial  Television  Inc.,  (the  "Company"  or  "ICTV")  was
organized  under  the  laws  of  the  state  of  Nevada  on  June  25,  1998.

On April 1, 2000, the Company entered into a Share and Option Purchase Agreement
with  the  trustees of The Better Block Trust ("BBT"), which owned or controlled
all  of the equity interest in Windowshoppc.com Limited ("WSL"), R.J.M. Ventures
Limited  ("RJML")  and  Better Blocks International Limited ("BBIL").  Under the
agreement,  the Company purchased all of the equity interest in WSL and RJML, an
option  to  purchase  all of the equity in BBIL and obtained a license to all of
the  assets owned by BBIL.  The purchase price under the agreement was 8,000,000
shares of the Company's common stock and a $590,723 promissory note.  The option
exercise  price is the issuance of an additional 500,000 shares of the Company's
common  stock.  For  accounting purposes, the acquisition has been treated as an
acquisition  of  ICTV by WSL and RJML and as a recapitalization of WSL and RJML.

Strategic  Media  Marketing  Corp.  ("SMM")  was incorporated in the Province of
British  Columbia  on  February  11, 2003 and has a December 31 fiscal year-end.

Windowshoppc.com Limited was organized under the laws of New Zealand on June 25,
1999 and has a fiscal year-end of March 31.  During the 1999 fiscal year, at the
direction  of  management,  WSL  was  removed  from the New Zealand Registrar of
Companies.  All  assets and commitments of WSL have been transferred or assigned
directly  to  ICTV.

R.J.M. Ventures Limited was organized under the laws of New Zealand on April 23,
1998  and  has  a fiscal year-end of March 31.  During the  1999 fiscal year, at
the  direction of management, RJML was removed from the New Zealand Registrar of
Companies.  All assets and commitments of RJML have been transferred or assigned
directly  to  ICTV.

Nature  of  operations
----------------------

The  Company  sells  various  consumer  products.  The  products  are  primarily
marketed  and  sold  throughout  the  United  States  and  internationally  via
infomercials.  Although  the  companies  are  incorporated in Nevada and British
Columbia,  operations  are  currently  run  from  Washington  State  and British
Columbia.


                                     Page 6
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Principles  of  consolidation
-----------------------------

The  accompanying consolidated financial statements include 100% of the accounts
of  the  Company  and  its  wholly-owned  subsidiary  SMM.  All  significant
inter-company  transactions  and  accounts  have  been  eliminated.

Cash  equivalents
-----------------

The  Company  considers  all  unrestricted  highly  liquid  investments  with an
original  maturity  of  three  months  or  less  to  be  cash  equivalents.

Accounts receivable
-------------------

No  allowance  for  uncollectible  accounts  has  been  provided.  The Company's
management  has  evaluated  the  accounts and believes they are all collectible.

Inventory
---------

Inventory  consists  primarily of products held for resale and are stated at the
lower  of  cost  (first-in,  first-out  method)  or  market.

Furniture  and  equipment
-------------------------

Equipment  is  carried  at  cost and depreciation is computed over the estimated
useful  lives  of the individual assets ranging from 3 to 7 years.  Depreciation
is  computed  using  the  straight-line  method.

The  related  cost  and  accumulated depreciation of assets retired or otherwise
disposed  of  are  removed  from  the accounts and the resultant gain or loss is
reflected  in  earnings.  Maintenance  and  repairs are expensed currently while
major  renewals  and  betterments  are  capitalized.

Long-term  assets  of  the  Company  are  reviewed  annually as to whether their
carrying  value has become impaired.  Management considers assets to be impaired
if  the  carrying  value  exceeds  the  future projected cash flows from related
operations.  Management  also  re-evaluates  the  periods  of  amortization  to
determine  whether subsequent events and circumstances warrant revised estimates
of  useful  lives.  As  of  June 30, 2006, management expects these assets to be
fully  recoverable.

Depreciation  expense  amounted to $ 2,173 and $4,687 for the three months ended
June 30, 2006 and 2005, respectively, and $ 6,860 and $ 9,374 for the six months
ended  June  30,  2006  and  2005,  respectively.


                                     Page 7
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Revenue recognition
-------------------

Product  sales  revenue  is  recognized  upon  shipment  of  the  product to the
customer.  The  Company  has a return policy whereby the customer can return any
product  received  within  thirty  days  of  receipt for a full refund excluding
shipping  and handling.   Revenue related to the sale of third party products is
generally  recorded  at  gross  amounts  with  a corresponding charge to cost of
sales.  Certain third party products are sold on a commission basis and only the
commission  income  is  recorded  for  these  sales.

Shipping  and  handling
-----------------------

Shipping  and  handling  costs  are included in cost of sales.  Amounts paid  by
customers  for shipping and handling charges are netted against the shipping and
handling  costs  that  we  pay.

Research  and  development
--------------------------

Research  and  development  costs  are  expensed as incurred and are included in
selling  and  marketing  expense  in  the  accompanying  consolidated  financial
statements.  Research  and  development  costs  primarily  consist of efforts to
discover  and  develop  new  products  and  the  testing  and  development  of
direct-response  advertising  related  to  these  products.

Media  and  production  costs
-----------------------------

Media  and production costs are expensed as incurred and are included in selling
and marketing expense in the accompanying consolidated financial statements. The
Company  incurred $ 75,907 and $204,750 in such costs for the periods ended June
30,  2006  and  2005.

Income  taxes
-------------

The  Company uses the asset and liability method of accounting for income taxes,
which  requires  the  recognition of deferred tax liabilities and assets for the
expected  future tax consequences of temporary differences between tax bases and
financial  reporting  bases  of  assets  and  liabilities.


                                     Page 8
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Stock  options
--------------

Prior  to  March  2006,  the  Company  used  Statement  of  Financial Accounting
Standards  No.  148  "Accounting  for  Stock-Based Compensation - Transition and
Disclosure"  (SFAS  No.  148)  to  account  for  its  stock  based  compensation
arrangements.  This statement amended the disclosure provision of FASB statement
No. 123 to require prominent disclosure about the effects on reported net income
of  an entity's accounting policy decisions with respect to stock-based employee
compensation.  As  permitted  by  SFAS  No. 123 and amended by SFAS No. 148, the
Company  continued  to  apply  the  intrinsic  value  method  under  Accounting
Principles  Board  ("APB")  Opinion  No.  25,  "Accounting  for  Stock Issued to
Employees,"  to  account for its stock-based employee compensation arrangements.

In  December  2004,  the  Financial  Accounting Standards Board issued Statement
Number  123  ("FAS  123  (R)"), Share-Based Payments, which is effective for the
reporting  period  beginning  on January 1, 2006. The statement will require the
Company  to  recognize compensation expense in an amount equal to the fair value
of  share-based payments such as stock options granted to employees. The Company
has  the  option to either apply FAS 123 (R) on a modified prospective method or
to  restate  previously  issued  financial  statements, and chose to utilize the
modified  prospective  method.  Under  this  method,  the Company is required to
record  compensation  expense  (as  previous  awards  continue  to vest) for the
unvested  portion  of  previously  granted awards that remain outstanding at the
date  of  adoption.

In  January 2006, the Company adopted the expense recognition provisions of SFAS
No.  123, and for the six months ended June 30, 2006, recorded approximately $ 0
in stock compensation expense. If the Company had expensed stock options for the
six  months  ended June 30, 2006, the stock compensation expense would have been
approximately  $  0.


                                     Page 9
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Stock  options  (continued)
---------------------------

The following is a summary of stock options outstanding under the existing stock
option  plan  for the six months ended June 30, 2006 and year ended December 31,
2005:

<TABLE>
<CAPTION>
                                           Number of Shares              Weighted
                                 ------------------------------------    Average
                                                 Non-                    Exercise
                                  Employee     Employee     Totals        Price
                                 ----------  -----------  -----------  -----------
<S>                              <C>         <C>          <C>          <C>
Balance, January 1, 2005                  -   1,049,000    1,049,000   $      0.49
  Granted on November 8, 2005             -     160,000      160,000   $      0.36
  Exercised during the year               -           -            -   $      0.00
  Cancelled during the year               -           -            -   $      0.00
                                 ----------  -----------  -----------

Balance, December 31, 2005                -   1,209,000    1,209,000   $      0.47

  Cancelled during the period             -     (40,000)     (40,000)  $      2.00
  Exercised during the period             -      (8,000)      (8,000)  $      0.50
                                 ----------  -----------  -----------

Balance, June 30, 2006                    -   1,161,000    1,161,000   $      0.43
                                 ==========  ===========  ===========
</TABLE>

During  the  period ended June 30, 2006 and 2005, there were no options granted.
Of  the  stock  options  currently  outstanding,  908,000  options are currently
exercisable at a weighted average exercise price of $0.43.  These options expire
at  dates  ranging  between  December  31,  2007  and  September  28,  2011.

The Company provides proforma disclosures of compensation expense under the fair
value  method  of  SFAS  123  and  SFAS  148.

Had  compensation  cost for the Company's option plans been determined using the
fair  value  method at the grant dates, the effect on the Company's net loss and
loss  per  share  would  have  been as follows for the six months ended June 30:


                                   Page 10
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

For  the  six  months  ended  June  30:

<TABLE>
<CAPTION>
                                                                       2006      2005
                                                                   ----------  --------
<S>                                                                <C>         <C>
Net income (loss) as reported                                      $(239,283)  $351,797
Deduct:
  Total stock based employee compensation determined under
  fair value method for all awards, net of related tax effects             -          -
                                                                   ----------  --------

Pro forma net income (loss)                                        $(239,283)  $351,797
                                                                   ==========  ========

Earnings (loss) per share:
    Basic - as reported                                            $   (0.02)  $   0.03
                                                                   ==========  ========
    Basic - pro forma                                              $   (0.02)  $   0.03
                                                                   ==========  ========

    Diluted - as reported                                          $   (0.02)  $   0.03
                                                                   ==========  ========
    Diluted - pro forma                                            $   (0.02)  $   0.03
                                                                   ==========  ========
</TABLE>

For  the  three  months  ended  June  30:

<TABLE>
<CAPTION>
                                                                       2006        2005
                                                                   -----------  ----------
<S>                                                                <C>          <C>
Net income (loss) as reported                                      $ (220,851)  $   77,091
Deduct:
  Total stock based employee compensation determined under
  fair value method for all awards, net of related tax effects              -            -
                                                                   -----------  ----------

Pro forma net income (loss)                                        $ (220,851)  $   77,091
                                                                   ===========  ==========

Earnings (loss) per share:
    Basic - as reported                                            $    (0.02)  $     0.01
                                                                   ===========  ==========
    Basic - pro forma                                              $    (0.02)  $     0.01
                                                                   ===========  ==========

    Diluted - as reported                                          $    (0.02)  $     0.01
                                                                   ===========  ==========
    Diluted - pro forma                                            $    (0.02)  $     0.01
                                                                   ===========  ==========
</TABLE>


                                   Page 11
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  1  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Use  of  estimates
------------------

The  preparation  of  financial statements in conformity with generally accepted
accounting  principles  of  the  United States of America requires management to
make  estimates  and  assumptions  that  affect  the  amounts  reported  in  the
consolidated  financial  statements and accompanying notes.  Management believes
that  the  estimates utilized in preparing its consolidated financial statements
are  reasonable  and prudent.  Actual results could differ from these estimates.

Method  of  Presentation
------------------------

Certain  amounts  in  the  2005  financial  statements have been reclassified to
conform  to  the  2006  presentation.

Concentration  of  credit  risk
-------------------------------

Financial  instruments,  which potentially subject the Company to concentrations
of  credit  risk, include cash and trade receivables. The Company maintains cash
in bank accounts that, at times, may exceed federally insured limits. As of June
30,  2006,  the  Company did not exceed the federally insured limit. The Company
has  not  experienced any losses in such accounts and believes it is not exposed
to  any significant risks on its cash in bank accounts. As of June 30, 2006, 30%
of  the Company's accounts receivable were due from various individual customers
to  whom  our  Dermawand  product  had  been  sold  directly via Direct Response
Television; the remaining 70% of the Company's accounts receivable were due from
five  international  infomercial  operators.

NOTE  2  -  LICENSE  AND  RECONVEYANCE  AGREEMENTS

Effective  April  1,  2000,  the Company entered into a License and Reconveyance
Agreement  with  WSL and RJML.  These agreements are royalty-free.  WSL and RJML
owned  or had rights in certain intellectual properties that were transferred or
assigned  to ICTV during 2003.  Accordingly, WSL and RJML granted all production
rights, proprietary rights, inventory, development rights, hard assets, licenses
and  any  assets or rights to the Company.  The Company has the right to further
develop  and  enhance  the  intellectual  properties  as  the  Company sees fit.

NOTE  3  -  FINANCIAL  INSTRUMENTS

Statement  of  Financial  Accounting  Standards  No. 107 "Disclosures About Fair
Value  of  Financial  Instruments"  ("SFAS 107") requires disclosure of the fair
value  of  financial instruments held by the Company.  SFAS 107 defines the fair
value  of  financial  instruments as the amount at which the instrument could be
exchanged  in  a  current  transaction  between  willing parties.  The following
methods  and  assumptions  were  used  to  estimate  fair  value:


                                   Page 12
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  3  -  FINANCIAL  INSTRUMENTS  (CONTINUED)

The  carrying  amount  of accounts receivable and payable approximate fair value
due  to  their  short-term  nature.  The  carrying  amount  of note payable debt
approximates  fair  value  based  on  the  borrowing  rate  of  0.0%.

NOTE  4  -  COMMITMENTS  AND  CONTINGENCIES

Smart  Stacks(TM)
-----------------

On  May  18, 1998, RJML entered into a manufacturing, marketing and distribution
agreement  with  the  inventor of Smart Stacks(TM). Smart Stacks(TM) is a set of
rotating  and  stacking  storage  trays. Pursuant to the agreement, the inventor
grants  to  RJML the exclusive right to manufacture, advertise, promote, market,
sell  and  distribute  Smart  Stacks(TM)  worldwide  through  all  means.  In
consideration  of  the  grants  received,  RJML shall pay a royalty based on net
sales  depending  on  various scenarios as defined in the agreement. The initial
term  of  the  agreement  was  five  years  starting May 18, 1998. The agreement
automatically  and  continually renews for successive additional five-year terms
unless  RJML  is  in material default and is notified in writing at least thirty
days  prior  to  the  end  of the then current term that the inventor intends to
terminate  the  agreement.

On  July  1,  1998,  RJML entered into a production agreement with The Broadcast
Arts  Group,  Inc. ("BAG") for the creation of infomercials of Smart Stacks(TM).
RJML  pays all necessary expenses for the creation of the infomercials and after
completion,  will  retain  all rights, title and interest arising under the U.S.
Copyright  Act,  the U.S. Trademark Act and all other applicable laws, rules and
regulations in and to the entire editorial, visual, audio and graphic content of
the infomercials. In consideration of services rendered by BAG, RJML shall pay a
royalty  based  on RJML's adjusted gross sales depending on various scenarios as
defined  in  the  agreement.

This agreement has an indefinite term, however, it may be terminated upon thirty
days  written  notice  under  certain  conditions  as  defined in the agreement.

Derma  Wand(TM)
---------------

On  August  17,  1999,  WSL entered into a production agreement with BAG for the
creation  of infomercials of Derma Wand(TM). WSL pays all necessary expenses for
the  creation  of the infomercials and after completion, will retain all rights,
title  and interest arising under the U.S. Copyright Act, the U.S. Trademark Act
and  all  other  applicable  laws,  rules  and  regulations in and to the entire
editorial,  visual,  audio  and  graphic  content  of  the  infomercials.  In
consideration  of  services  rendered  by  BAG, WSL shall pay a royalty based on
adjusted  revenues  or  units sold depending on various scenarios defined in the
agreement.  The  initial  term of this agreement was until August 31, 2002. Upon
expiration,  this  agreement automatically and continually renews for successive
additional  three-year  terms  unless  either party is in material breach or the
other  party  notifies the breaching party in writing at least thirty days prior


                                   Page 13
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  4  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

Derma  Wand(TM)  (continued)
----------------------------

to  the  end  of the then current term.  During the period ended March 31, 2005,
the  agreement  was  amended  such  that  royalties  payable on units sold after
December  31,  2004  cease.

On  October  15,  1999,  WSL  entered  into  an  endorsement  agreement  with an
individual  for  her  appearance in a Derma Wand infomercial.  On July 11, 2001,
the  agreement  was  amended  to  include  a  royalty payment for each unit sold
internationally,  up  to a maximum royalty payment for any one calendar quarter.
Further,  if  the infomercial is aired in the United States, then the airing fee
will  revert  back to the same flat rate per calendar quarter.  The initial term
of  the  agreement  is  five  years  starting  October  15, 1999.  The agreement
automatically  and  continually renews for successive additional five-year terms
unless  RJML  is  in material default and is notified in writing at least thirty
days  prior  to  the end of the then current term that the individual intends to
terminate  the  agreement.

The  Company assumed any and all responsibilities associated with the agreements
noted above on April 1, 2000, pursuant to the license and reconveyance agreement
disclosed  in  Note  2.

On  January  5,  2001,  WSL  entered into a marketing and royalty agreement with
Omega 5. WSL shall have worldwide nonexclusive rights to manufacture, market and
distribute  Derma  Wand(TM).  In  consideration of these rights, WSL shall pay a
royalty  for  each  unit  sold  of  Derma Wand depending on various scenarios as
defined  in  the  agreement.  The  agreement  is  silent  as  to  its  duration.

During 2004, the Company entered into two Letter Agreements with Omega 5 wherein
ICTV  was  appointed  as  exclusive  distributor  for  the  Derma Wand(TM) in an
additional  78 countries/territories throughout the world, with the exception of
the United States. The rights remain exclusive to ICTV provided ICTV purchases a
minimum quantity each year and pays the royalty described above. The term of the
agreements  is  for  three  years  with  automatic  three  year  renewals.

Sprint(R)
---------

On  June  6,  2002,  the Company entered into an exclusive license and marketing
agreement with Land Surfer Scooter Company Ltd. ("LSSC").  LSSC has been granted
by  way of a valid agreement, by the manufacturer, the exclusive right to market
a fold-up rocker-powered scooter.  LSSC agrees to allow the Company to order the
scooters  directly  from the manufacturer and the Company agrees to provide LSSC
all  copies of such orders.  In consideration of the grant received, the Company
shall  pay  LSSC  a  royalty  per unit sold depending on various scenarios.  The
initial  term  of  the  agreement  is  five  years  starting  June 6, 2002.  The
agreement  automatically  and  continually renews for successive additional five
years  unless  the  Company  is  in  default.


                                   Page 14
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  4  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

Bondzalot
---------

On  July  8,  2002,  the  Company  entered  into  an  exclusive  marketing  and
distribution  agreement  with  an  individual  in  connection  with  a  range of
specialty  adhesive  products  ("Products").  The  individual  has  granted  the
exclusive  right  to  market  through  all forms of distribution a product to be
known  as  Bondzalot(TM) in all countries throughout the world other than Canada
and  the  United  Kingdom, and on a non-exclusive basis in Canada and the United
Kingdom.  In consideration for the right received, the Company shall, at its own
expense,  produce and test broadcast a long-form infomercial ("Program") and pay
a royalty on a per unit basis at a price to be determined. The Company agrees to
purchase  a  minimum  of  $250,000  worth  of Products from the individual on an
annual basis, commencing from the date the Program is test broadcasted (December
15, 2002), to retain the exclusive rights, otherwise the license shall revert to
a  non-exclusive  license.  The  initial  term  of  the  agreement is five years
starting  July  8,  2002. The agreement automatically and continually renews for
successive  additional  five-year terms, unless either party is in breach of the
agreement  and  the breach is not remedied within 30 days of written notice. The
Company  produced  and tested the Program. As the results were poor, the Company
did  not  purchase the minimum commitment to retain exclusive rights. Management
plans  to  edit  the  Program  with  the  intention  of  marketing  the Products
internationally.

TwinTech(TM)
------------

In  January,  2003, the Company entered into an exclusive agreement with Chevron
Oronite Company LLC ("COC") whereby the parties acknowledge that ICTV intends to
market,  sell  and distribute various automobile fuel and oil additive products,
developed  by  COC,  in the United States and elsewhere in the world via various
means  and  media,  including,  without  limitation, one or more direct response
television programs of 30 minutes or less.  The initial term of the agreement is
three  years  from the date of first airing of the infomercial and automatically
renews  for  three  years  unless  the  Company  is  in  default.

On  February  20, 2003, the Company entered into a Supply Agreement with Calidad
Auto  Tech,  Inc.  ("CAT")  whereby CAT will sell to the Company and the Company
will  purchase  from  CAT  certain  automobile  fuel  and  oil additive products
developed  by  COC.  The  initial  term of the agreement is three years from the
date of first airing of the infomercial and automatically renews for three years
unless  the  Company  is  in  default.

On  April  28,  2003,  the  Company  entered  into  a Broadcast Video Production
Agreement  with  Real  to Reel Productions ("Real to Reel") whereby Real to Reel
will  render  various  services  related  to  the  production  of an infomercial
designed  to  sell  the  TwinTech(TM)  Automotive  Engine Treatment Additive. In
addition  to  the production fee, the Company shall pay a royalty based on gross
sales  generated  from  the infomercial. The term of the agreement is five years
and  Real to Reel retains the right of first refusal for subsequent new shows to
further  promote  the  product.


                                   Page 15
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)

NOTE  4  -  COMMITMENTS  AND  CONTINGENCIES  (CONTINUED)

TwinTech(TM) (continued)
------------------------

On  April  28,  2003,  the  Company  entered  into  a  funding  agreement with a
shareholder, whereby the shareholder agrees to pay Real to Reel's production fee
of  approximately  $196,000,  and in return, the Company has agreed to pay a per
kit  royalty  to  the shareholder based on various scenarios, until such time as
the  total royalty payments reach $2,000,000. The production fee was accrued and
expensed  as  "production  costs" and included in selling and marketing expenses
during  the  fiscal  year  ended  December  31,  2005.

During  the  period  ended March 31, 2005, the Company entered into an agreement
with  COC  and CAT terminating the January 2003 and February 20, 2003 agreements
described  above.  In  consideration  for  surrendering our rights to advertise,
promote,  market, sell or otherwise distribute TwinTech(TM) we received $800,000
from  COC.  From  these funds, we have agreed to repay Real to Reel's production
fee  in  full  settlement  of  the obligations to a shareholder set forth in the
April  28,  2003  agreement  described  above.

Other  matters
--------------

For the period from January 1, 2004 through August 31, 2005, the Company did not
maintain  product  liability  insurance  for  all  products  sold.  For  certain
products, the Company is listed as an additional insured party under the product
manufacturers'  insurance policy. As of September 1, 2005, the Company purchased
liability  insurance  from  CMW Insurance due to expire on September 1, 2006. In
addition,  on  February  20,  2006,  the  Company purchased additional liability
insurance  to  cover all direct to consumer product sales in the US; this policy
is  due  to expire on February 20, 2007.  At present, management is not aware of
any  claims  against  the  Company  for  any  products  sold.

On  December 20, 2005, the Company entered into an operating lease agreement for
office  facilities  for its international operations from an unrelated party for
approximately  $2,400  per  month  .  The  term  of  the  lease  is  three years
commencing  January  1,  2006  and  ending  December  31,  2008.

NOTE  5  -  RELATED  PARTY  TRANSACTIONS

The Company has received short-term advances from a shareholder.  These advances
amounted  to $459,488  as of June 30, 2006 .  Interest rates charged during this
period ranged from 0% to 21.24%.  These advances are included in "Due to related
parties"  on  the  accompanying  consolidated  balance  sheets.


                                   Page 16
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  5  -  RELATED  PARTY  TRANSACTIONS  (CONTINUED)

The  Company  has  received  and  repaid  short-term advances from shareholders,
officers  and directors of the Company.  These (repayments) advances amounted to
$(320)  as  of  June  30,  2006.  These advances bear no interest and are due on
demand.  It  is  anticipated  that  these (repayments) advances will be (repaid)
paid  within  one year.  These advances are included in "Due to related parties"
on  the  accompanying  consolidated  balance  sheets.

The  Company has a note payable to a shareholder in the amount of $590,723. This
loan  is  interest-free  and  has  no  specific  terms  of  repayment.

NOTE  6  -  CAPITAL  TRANSACTIONS

During the six months ended June 30, 2006, 8,000 options were exercised at $0.50
per  share,  for a total of $4,000. 50,000 shares were also issued from treasury
as compensation for services rendered by a consultant; the shares were valued at
$1.05  per  share the market value of the shares on the date of the transaction.

NOTE  7  -  BASIC  AND  DILUTED  LOSS  PER  SHARE

Statement  of  Financial  Accounting Standards No. 128 (SFAS 128), "Earnings Per
Share"  requires  presentation  of basic earnings per share and diluted earnings
per  share.

The  computation  of  basic  earnings per share is computed by dividing earnings
available  to  common shareholders by the weighted average number of outstanding
common shares during the period.  Diluted earnings per share gives the effect to
all  dilutive  potential  common  shares  outstanding  during  the  period.  The
computation  of  diluted earnings per share does not assume conversion, exercise
or  contingent exercise of securities that would have an anti-dilutive effect on
net  income  or  loss.


                                   Page 17
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  7  -  BASIC  AND  DILUTED  LOSS  PER  SHARE  (CONTINUED)

The  computations  for  basic  and  diluted  loss  per  share  are  as  follows:

<TABLE>
<CAPTION>
                                               Loss           Shares          Per Share
For the six months ended June 30, 2006:     (Numerator)    (Denominator)        Amount
---------------------------------------   ---------------  --------------  ---------------
<S>                                       <C>              <C>             <C>
Basic loss per share
---------------------------------------

Loss available to common shareholders      $     (239,283)      10,693,188  $        (0.02)
                                           ===============  ==============  ===============

Diluted earnings per share
---------------------------------------

Loss available to common shareholders      $     (239,283)      10,693,188  $        (0.02)
                                           ===============  ==============  ===============


                                               Income          Shares          Per Share
For the six months ended June 30, 2005:      (Numerator)    (Denominator)        Amount
---------------------------------------    ---------------  --------------  ---------------

Basic earnings per share
---------------------------------------

Income available to common shareholders    $      351,797       10,635,188  $         0.03
                                           ===============  ==============  ===============

Diluted earnings per share
---------------------------------------

Income available to common shareholders    $      351,797       10,754,770  $         0.03
                                           ===============  ==============  ===============


                                               Loss           Shares           Per Share
For the three months ended June 30, 2006:   (Numerator)     (Denominator)        Amount
-----------------------------------------  ---------------  --------------  ---------------

Basic earnings per share
---------------------------------------

Loss available to common shareholders      $     (220,851)      10,693,188  $        (0.02)
                                           ===============  ==============  ===============

Diluted earnings per share
---------------------------------------

Loss available to common shareholders      $     (220,851)      10,693,188  $        (0.02)
                                           ===============  ==============  ===============


                                               Income          Shares          Per Share
For the three months ended June 30, 2005:    (Numerator)    (Denominator)        Amount
-----------------------------------------  ---------------  --------------  ---------------

Basic loss per share
---------------------------------------

Income available to common shareholders    $       77,091       10,635,188  $         0.01
                                           ===============  ==============  ===============

Diluted loss per share
---------------------------------------

Income available to common shareholders    $       77,091       10,751,282  $         0.01
                                           ===============  ==============  ===============
</TABLE>


                                   Page 18
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  8  -  INCOME  TAXES

For the most part, the Company has experienced operating losses since inception.
The  Company  has  provided  a  full valuation allowance on the net deferred tax
asset  because  of  uncertainty  regarding its realization. This asset primarily
consists  of  net  operating  losses  and  amortization.

The  Company  had net operating losses of approximately $1,077,000 related to US
federal,  foreign and state jurisdictions through June 30, 2006.  Utilization of
net  operating  losses, which begin to expire at various times starting in 2021,
may  be  subject  to  certain  limitations.

Deferred  income  taxes  reflect  the  net  tax effects of temporary differences
between  the  carrying amounts of assets and liabilities for financial reporting
purposes  and  the  amounts  used  for  income  tax  purposes.

Significant components of the Company's deferred tax assets are approximately as
follows:

<TABLE>
<CAPTION>
<S>                            <C>
                                June 30, 2006
                               ---------------
Net operating loss             $      280,000
Basis of investments                2,327,000
Basis of intangibles                  428,000
Basis of stock options                103,000
Accumulated amortization              107,000
Accumulated depreciation                3,000
State taxes                          (129,000)
                               ---------------
  Total deferred tax assets         3,119,000
Valuation allowance                (3,119,000)
                               ---------------
  Net deferred tax assets      $            -
                               ===============
</TABLE>

NOTE 9 - SEGMENT REPORTING

The  Company  operates  in one industry segment and is engaged in the selling of
various  consumer products primarily through direct marketing infomercials.  The
Company  evaluates performance and allocates resources based on several factors,
of  which  the  primary  financial measure is operating loss by geographic area.
Operating  expenses  are  primarily  prorated  based on the relationship between
domestic  and  international  sales.


                                   Page 19
<PAGE>
                     INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE 9 - SEGMENT REPORTING (CONTINUED)

Information  with  respect to the Company's operating loss by geographic area is
as  follows:

<TABLE>
<CAPTION>
                                For the six months ended June 30, 2006             For the six months ended June 30, 2005
                            -------------------------------------------------  ----------------------------------------------
                                Domestic      International       Totals          Domestic     International       Totals
                            ---------------  ---------------  ---------------  --------------  --------------  --------------
<S>                         <C>              <C>              <C>              <C>             <C>             <C>
Infomercial and product
sales                       $      156,045   $      346,528   $      502,573   $      800,000  $      656,934  $    1,456,934
Cost of sales                       25,036          248,908          273,944          300,000         320,126         620,126
                            ---------------  ---------------  ---------------  --------------  --------------  --------------
Gross profit                       131,009           97,620          228,629          500,000         336,808         836,808
                            ---------------  ---------------  ---------------  --------------  --------------  --------------

Operating expenses:
  Depreciation                       2,131            4,729            6,860            5,147           4,227           9,374
  General and
    administrative                  96,259          212,458          308,717          134,726         110,633         245,359
  Selling and marketing            116,002           25,362          141,364          118,207          97,068         215,275
  Rent                               2,845            6,314            9,159            6,542           5,373          11,915
                            ---------------  ---------------  ---------------  --------------  --------------  --------------
Total operating expense            217,237          248,863          466,100          264,622         217,301         481,923
                            ---------------  ---------------  ---------------  --------------  --------------  --------------

Operating income (loss)     $      (86,228)  $     (151,243)  $     (237,471)  $      235,378  $      119,507  $      354,885
                            ===============  ===============  ===============  ==============  ==============  ==============
</TABLE>

<TABLE>
<CAPTION>
                                For the three months ended June 30, 2006         For the three months ended June 30, 2005
                            ------------------------------------------------  ----------------------------------------------
                               Domestic       International       Totals          Domestic     International       Totals
                            ---------------  ---------------  ---------------  --------------  --------------  --------------
<S>                         <C>              <C>              <C>              <C>             <C>             <C>
Infomercial and product
sales                       $       40,511   $      139,973   $      180,484   $            -  $      418,116  $      418,116
Cost of sales                       17,775          126,672          144,447                -         179,766         179,766
                            ---------------  ---------------  ---------------  --------------  --------------  --------------
Gross profit                        22,736           13,301           36,037                -         238,350         238,350
                            ---------------  ---------------  ---------------  --------------  --------------  --------------

Operating expenses:
  Depreciation                         449            1,724            2,173                -           4,687           4,687
  General and
    administrative                  54,803          138,169          192,972                -         145,810         145,810
  Selling and marketing             42,491           13,973           56,464                -           4,033           4,033
  Rent                               1,023            3,060            4,083                -           5,722           5,722
                            ---------------  ---------------  ---------------  --------------  --------------  --------------
Total operating expense             98,766          156,926          255,692                -         160,252         160,252
                            ---------------  ---------------  ---------------  --------------  --------------  --------------

Operating income (loss)     $      (76,030)  $     (143,625)  $     (219,655)  $            -  $       78,098  $       78,098
                            ===============  ===============  ===============  ==============  ==============  ==============
</TABLE>


                                   Page 20
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2006
                                   (Unaudited)


NOTE  10  -  GOING  CONCERN  CONSIDERATIONS

The  accompanying  consolidated financial statements have been prepared assuming
the  Company will continue as a going concern and do not include any adjustments
to  reflect  the  possible  future  effects  on the recoverability of assets and
liquidation  of liabilities that may result from this uncertainty.  Although the
Company  generated positive cash flows from operating activities during the past
two  quarters,  the Company, for the most part, has experienced recurring losses
from  operations.  In  addition, the Company has a working capital deficiency of
approximately $495,000 and an accumulated deficit of approximately $1,377,000 as
of  June  30,  2006.  These  considerations  raise  substantial  doubt about the
Company's  ability  to  continue  as  a  going  concern.  Management is actively
pursuing  additional  financing to fund the current operating losses and working
capital  deficiency.


                                   Page 21
<PAGE>
ITEM  2.  MANAGEMENT  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION

Except  for  the  historical information presented in this document, the matters
discussed  in this Form 10-QSB, and specifically in the "Management's Discussion
and  Analysis or Plan of Operation", or otherwise incorporated by reference into
this  document  contain "forward looking statements" (as such term is defined in
the  Private Securities Litigation Reform Act of 1995).  These statements can be
identified  by  the  use  of  forward-looking  terminology  such  as "believes",
"expects",  "may", "will", "intends", "should", or "anticipates" or the negative
thereof or other variations thereon or comparable terminology, or by discussions
of strategy that involve risks and uncertainties.  The safe harbor provisions of
Section  21E of the Securities Exchange Act of 1934, as amended, and Section 27A
of  the  Securities Act of 1933, as amended, apply to forward-looking statements
made  by  the  Company.  You  should not place undue reliance on forward-looking
statements.  Forward-looking  statements  involve  risks and uncertainties.  The
actual  results  that  the  Company  achieves  may  differ  materially  from any
forward-looking  statements  due  to  such  risks  and  uncertainties.  These
forward-looking  statements  are  based on current expectations, and the Company
assumes  no  obligation  to  update  this  information.  Readers  are  urged  to
carefully  review  and  consider  the various disclosures made by the Company in
this  report  on  Form  10-QSB and in the Company's other reports filed with the
Securities  and Exchange Commission that attempt to advise interested parties of
the  risks  and  factors  that  may  affect  the  Company's  business.

The  following  discussion and analysis of the Company's financial condition and
results  of  operations  should  be  read  in  conjunction  with  the  Financial
Statements  and accompanying notes and the other financial information appearing
elsewhere  in  this  report.

OVERVIEW

ICTV  was incorporated as Moran Dome Exploration, Inc. on June 25, 1998.  We had
limited  operations and assets until April 2000, when we entered into and closed
a  Share  and Option Purchase Agreement with Kelvin Claney, Robin Jan Claney and
William Ainslie Reece, in their capacity as trustees of The Better Blocks Trust.
When  the  Share  and  Option  Purchase  Agreement  with The Better Blocks Trust
closed,  we  began  our  operations  as  an infomercial company selling products
directly  to  consumers  via  long-form  and  short-form  infomercials,  both
domestically  and  internationally.  We  market products that we own or have the
exclusive  license  to  market  (which we refer to as "our products" or "our own
products"),  and  we  also  act  as  the international marketing distributor for
products  owned  by third parties (which we refer to as "third-party products").
As the international marketing distributor for the third-party products, we take
previously  existing infomercials for third-party products, locate international
infomercial  operators to sell the products featured in the infomercials, and we
receive  either  a  royalty or the difference between the price at which we sell
the  product to the international infomercial operator and the price at which we
acquire  the  product.

Although  we  currently  sell  products  through  infomercials,  the goal of our
business  plan  is  to  use the brand awareness we create in our infomercials so
that  we  can sell the products featured in our infomercials, along with related
families  of  products, under distinct brand names in traditional retail stores.
Our  goal  is  to have these families of products sold in the traditional retail
environment in shelf-space dedicated to the product category.  We are developing
the  infrastructure  to create these brands of products so that we can implement
our  business  plan.


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<PAGE>
Fluctuations  in our revenue are driven by changes in our product mix.  Revenues
may  vary  substantially from period to period depending on our product line-up.
A  product  that  generates  revenue in one quarter may not necessarily generate
revenues  in  each quarter of a fiscal year for a variety of reasons, including,
seasonal  factors,  the  product's stage in its life-cycle, the public's general
acceptance  of  the  infomercial  and other outside factors, such as the general
state  of  the  economy.

Just  as  fluctuations in our revenues are driven by changes in our product mix,
our  gross  margins  from period to period depend on our product mix.  Our gross
margins  vary according to whether the products we are selling are primarily our
own  products or third-party products.  As a general rule, the gross margins for
our  own  products are considerably higher based on proportionately smaller cost
of  sales.  For  third-party  products, our general experience is that our gross
margins are lower, because we record as cost of sales the proportionately higher
cost  of  acquiring  the  product  from  the manufacturer.  Within each category
(i.e.,  our  own products versus third-party products), gross margins still tend
to  vary  based  on  factors  such  as  market  price  sensitivity  and  cost of
production.

Many  of  our  expenses for our own products are incurred up-front.  Some of our
up-front  expenditures  include  infomercial  production  costs and purchases of
media  time.  If  our  infomercials  are successful, these up-front expenditures
produce revenue on the back-end, as consumers purchase the products aired on the
infomercials.  We  do  not incur infomercial production costs and media time for
our  third-party  products,  because  we  merely  act  as  the  distributor  for
pre-produced  infomercials.  It  is  the  responsibility  of  the  international
infomercial  operators  to  whom  we  sell  the third-party products to take the
pre-produced  infomercial,  adapt  it to their local standards and pay for media
time.

RESULTS  OF  OPERATIONS

The  following  discussion  compares  operations  for the quarter ended June 30,
2006,  with  the  quarter  ended  June  30,  2005.

Revenues

Our  revenues decreased to approximately $180,500 for the quarter ended June 30,
2006,  down  from approximately $419,000 recorded during the comparative quarter
in 2005, a 57% decrease. In June 2006, our revenue was generated solely from the
sale  of  our  Derma  Wand  product simply because this product has received the
highest  amount  of interest from our international infomercial operators and is
also beginning to sell very well in the Unites States. Our Company resources are
very  limited  at  this time so it was decided to concentrate these resources on
marketing and selling our most popular product. All revenues recorded during the
quarter  ended June 30, 2006 were generated by our own products, as was the case
during  the  comparative  period  in  2005.

Gross  Margin

Gross  margin  percentage  decreased  to approximately 20% for the quarter ended
June  30,  2006,  compared  to  approximately 57% for the quarter ended June 30,
2005.  The  decrease  in  gross margin percentage was primarily due to the lower
revenues  generated  from  Derma  Wand  sales  and  the approximately $68,000 in
royalties  on Derma Wand sales from previous periods that became due and payable
during  the  quarter. Royalties are calculated and paid in the month following a
minimum  of  90%  of our customers' sales invoice being paid. During the quarter
ended  June  30,  2006,  we  received gross margins of approximately $36,000 for
Derma Wand, and in the quarter ended June 30, 2005, we received gross margins of
$236,000  for  Derma  Wand.


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<PAGE>
Operating  Expenses

Total  operating expenses increased to approximately $256,000 during the quarter
ended  June  30, 2006, from approximately $160,000 during the quarter ended June
30,  2005,  up  approximately  $96,000,  or  60%.  This  increase  is attributed
primarily  to  three  factors;  $15,000  in media costs were incurred during the
period  as  compared  to  $  0 during the quarter ended June 30, 2005, a $52,500
consulting  fee was charged during the period upon the issuance of 50,000 shares
as  compared  to $0 during the quarter ended June 30, 2005, and finally  $10,000
in  consulting fees in relation to product sales were incurred during the period
as  compared  to  $  0  during  the  quarter  ended  June  30,  2005.

Net  Income

Apart  from  the  past fiscal year ended December 31, 2005, we have not achieved
profitability  on  a  consistent or annualized basis.  Our net loss of  $221,000
for  the quarter ended June 30, 2006 follows up a first quarter 2006 net loss of
approximately $18,000.  Although we expect continued strong sales from our Derma
Wand  product  over  the  remainder  of  the  year,  we  anticipate that until a
follow-up  financing  is  completed,  we  will  continue  to  operate at or near
break-even,  as  we  reinvest  all  available  funds  into new products.  Market
acceptance  of  the  products  we launch will also be a determining factor as to
whether  we  will  continue  to  operate  profitably  or  at  a  loss.

PLAN  OF  OPERATION;  LIQUIDITY  AND  CAPITAL  RESOURCES

At June 30, 2006, we had approximately $61,000 in cash on the books, compared to
approximately  $21,000  at December 31, 2005.  We experienced negative cash flow
from  operations  of approximately $5,300 in the second quarter of 2006 compared
to  a  positive  cash flow from operations of approximately $17,600 for the same
period in 2005.  The negative cash flow from operations was a combination of net
loss,  a  decrease  to  accounts  receivable,  an increase in inventories and an
increase  in  payables  and  accrued  liabilities.

We  have a note payable to The Better Blocks Trust ("BB Trust") in the amount of
approximately  $591,000.

The  Company  has  granted 1,195,000 stock options; 900,000 at $0.35, 160,000 at
$0.36,  80,000 at $0.50, 35,000 at $1.50 and 20,000 at $2.00.  All option grants
vest  over  a  five-year  period.  To date, a total of 34,000 stock options have
been  exercised at $0.50 for proceeds of $17,000.  If the optionees exercise the
remainder  of  these  options as they vest, we will receive $342,270 in capital.
We  estimate that the $0.50 options granted on September 28, 2001 will result in
a  deferred  non-cash compensation expense of approximately $32,000 that we will
recognize  over  the  next  two years as services are rendered by the optionees.
During  2005,  $16,000  of  this  deferred  non-cash  compensation  expense  was
amortized;  the remaining $16,000 will be amortized during 2006. This assumes an
estimated  fair  value of $1.50 per share, based on the price of our offering of
$1.50  per  share  at  the  time. No options were granted, but 8000 options were
exercised  during  the  period  ended  March  31,  2006.

Apart  from  the  past  fiscal year ended December 31, 2005, we have experienced
recurring  losses  from operations and have experienced negative cash flows from
operating  activities.  In  addition,  the  Company  has  a  working


                                   Page 24
<PAGE>
capital  deficiency  of  approximately  $495,000  and  an accumulated deficit of
approximately  $1,377,000  as  of June 30, 2006.  These recurring losses and our
need for additional capital to sustain operations has led to the "going concern"
opinion issued by our independent auditors.  In an effort to reach profitability
and  become  less dependent on the requirement to finance continuing operations,
we  are  working to increase revenues and profit margins by continuing the trend
of  generating  revenues  by selling our own products where our margins are much
higher  than  our  third-party  products.  Furthermore, we are actively pursuing
additional  financing  so that we may produce two long-form infomercials and one
short-form  infomercial  over  the course of the next twelve months.  We have no
binding  commitments  or  arrangements for additional financing, and there is no
assurance that our management will be able to obtain any additional financing on
terms  acceptable  to  us,  if  at  all.

ITEM  3.  CONTROLS  AND  PROCEDURES

The  Company  maintains  disclosure controls and procedures that are designed to
ensure  that  information required to be disclosed in the Company's Exchange Act
reports  is  recorded, processed, summarized and reported within the time frames
specified in the SEC's rules and forms, and that such information is accumulated
and  communicated  to  the  Company's  management, including its Chief Executive
Officer  and  its  Chief  Financial Officer, to allow timely decisions regarding
required  disclosure based closely on the definition of "disclosure controls and
procedures"  in  Rule  13a-15(e)  and  15d-15(e)

As  of  June  30,  2006,  the  Company  carried  out  an  evaluation,  under the
supervision  and within the participation of the Company's management, including
the  Company's  Chief  Executive  Officer  and  Chief  Financial Officer, of the
effectiveness  of  the design and operation of the Company's disclosure controls
and  procedures.  Based  on the foregoing, the Company's Chief Executive Officer
and Chief Financial Officer concluded that the Company's disclosure controls and
procedures  were  effective.

There  has  been  no  change  in  the Company's internal controls over financial
reporting identified in connection with the evaluation required by paragraph (d)
of  Exchange  Act  Rules  13a-15  or 15d-15 that occurred during our last fiscal
quarter  that  has  materially  affected,  or is reasonably likely to materially
affect  our  internal  control  over  financial  reporting.


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


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

EXHIBITS

Exhibit
Number    Description

*31.1     Rule 13a-14(a)/15d-14(a) Certification - Chief Executive Officer

*31.2     Rule 13a-14(a)/15d-14(a) Certification - Chief Financial Officer

*32       Section 1350 Certifications

*  Filed herewith

REPORTS ON FORM 8-K

No reports on Form 8-K were filed during the quarter ended June 30, 2006


                                   Page 26
<PAGE>
                                   SIGNATURES

     In  accordance  with  the  requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                              INTERNATIONAL COMMERCIAL TELEVISION INC.
                              ----------------------------------------
                              Registrant


Date: August 14, 2006         By:     /s/ Kelvin Claney
                                  -----------------------------
                              Name: Kelvin Claney
                              Title: Chief Executive Officer


Date: August 14, 2006         By:     /s/ Karl Redekopp
                                  ----------------------
                              Name: Karl Redekopp
                              Title: Chief Financial Officer


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