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, 2007
                                         -------------


[ ] 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, 2007, the Issuer had
12,169,187  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


PART I - FINANCIAL INFORMATION
------------------------------
<S>                                                                 <C>

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
                                     ------------------------------


ITEM 1.  FINANCIAL STATEMENTS
<S>      <C>                                                                                <C>
         Consolidated Balance Sheet as of June 30, 2007 (unaudited)                            2

         Consolidated Statements of Operations for the three months ended June 30, 2007
             and 2006 (unaudited) and for the six months ended June 30, 2007 and 2006
             (unaudited)                                                                       3

         Consolidated Statements of Deficiency in Assets for the six months ended June 30,
             2007 (unaudited)                                                                  4

         Consolidated Statements of Cash Flows for the six months ended June 30, 2007 and
             2006 (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, 2007
                                   (Unaudited)
                                    ---------


                                                               June 30,
                                                               --------
                                                                 2007
                                                                 ----

                                     ASSETS
                                     ------
<S>                                                          <C>
CURRENT ASSETS:
  Cash                                                       $   661,004
  Accounts receivable, net                                     1,771,935
  Inventories                                                    269,569
  Prepaid expenses and deposits                                   81,492
  Deferred tax asset less valuation allowance of $2,818,000            -
                                                             ------------
    Total current assets                                       2,784,000
                                                             ------------

FURNITURE AND EQUIPMENT:
  Furniture and equipment                                        120,169
  Less accumulated depreciation                                  107,152
                                                             ------------
    Furniture and equipment, net                                  13,017
                                                             ------------

      Total assets                                           $ 2,797,017
                                                             ============


                 LIABILITIES ANDSHAREHOLDERS' EQUITY
                 -----------------------------------

CURRENT LIABILITIES:
  Accounts payable and accrued liabilities                   $   728,023
  Accounts payable and accrued liabilities - related parties      63,493
  Due to related parties                                         137,875
                                                             ------------
    Total current liabilities                                    929,391
                                                             ------------


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, 12,169,187 issued and
  outstanding as of  June 30, 2007                                 2,070
  Additional paid-in-capital                                   1,541,766
  Accumulated deficit                                           (266,933)

                                                             ------------
    Total shareholders' equity                                 1,276,903
                                                             ------------

      Total liabilities and deficiency in assets             $ 2,797,017
                                                             ============
</TABLE>

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


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

                                     CONSOLIDATED STATEMENTS OF OPERATIONS
                           FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2007 AND 2006
                                                  (Unaudited)
                                                   ---------


                                               For the three months ended         For the six months ended
                                               --------------------------         ------------------------
                                             June 30, 2007    June 30, 2006    June 30, 2007    June 30, 2006
                                            ---------------  ---------------  ---------------  ---------------
<S>                                         <C>              <C>              <C>              <C>
NET SALES
Infomercial products                        $    3,151,752   $      180,484   $    4,834,797   $      502,573
COST OF SALES
Infomercial products                        $      839,919   $      144,447   $    1,296,588   $      273,944
                                            ---------------  ---------------  ---------------  ---------------

GROSS PROFIT                                     2,311,833           36,037        3,538,209          228,629
                                            ---------------  ---------------  ---------------  ---------------

OPERATING EXPENSES:
  Depreciation                                       1,589            2,173            3,179            6,860
  General and administrative                       206,812          192,972          373,514          308,718
  Selling and marketing                          1,632,436           56,464        2,473,353          141,363
  Rent                                               7,849            4,083           15,728            9,159
                                            ---------------  ---------------  ---------------  ---------------
    Total operating expenses                     1,848,686          255,692        2,865,774          466,100
                                            ---------------  ---------------  ---------------  ---------------

OPERATING INCOME (LOSS)                            463,147         (219,655)         672,435         (237,471)
                                            ---------------  ---------------  ---------------  ---------------

INTEREST (INCOME) EXPENSE:
  Interest (income) expense                         (5,509)           1,196           (3,210)           1,812
                                            ---------------  ---------------  ---------------  ---------------
    Total interest (income) expense                 (5,509)           1,196           (3,210)           1,812
                                            ---------------  ---------------  ---------------  ---------------


INCOME (LOSS) BEFORE INCOME TAXES                  468,656         (220,851)         675,645         (239,283)
                                            ---------------  ---------------  ---------------  ---------------

INCOME TAXES
  Income tax expense                               159,344                -          229,720                -
  Tax benefit of net operating loss
  carry forward                                   (159,344)               -         (229,720)               -
                                            ---------------  ---------------  ---------------  ---------------

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

NET INCOME (LOSS)                           $      468,656   $     (220,851)  $      675,645   $     (239,283)
                                            ===============  ===============  ===============  ===============


BASIC NET INCOME (LOSS) PER SHARE           $         0.04   $        (0.02)  $         0.06   $        (0.02)
                                            ===============  ===============  ===============  ===============

FULLY DILUTED NET INCOME (LOSS) PER SHARE   $         0.04   $        (0.02)  $         0.06   $        (0.02)
                                            ===============  ===============  ===============  ===============
</TABLE>

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


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

                           CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY


                                     Common Stock
                                   $0.001 par value          Additional
                             -----------------------------     Paid-In     Accumulated
                                  Shares         Amount        Capital       Deficit       Totals
                             ----------------  -----------  -------------  ------------  -----------
<S>                          <C>               <C>          <C>            <C>           <C>
Balances, January 1, 2006          10,635,188  $       536  $    392,285   $(1,286,114)  $ (893,293)

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

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

Net income                                  -            -             -       343,536      343,536
                             -----------------------------------------------------------------------

Balances, December 31, 2006        10,693,188          594       464,728      (942,578)    (477,256)

Issuance of common stock            1,475,999        1,476     1,105,524             -    1,107,000

Stock issuance costs                        -            -       (28,486)            -      (28,486)

Net income                                  -            -             -       675,645      675,645
                             -----------------------------------------------------------------------

Balances, June 30, 2007            12,169,187  $     2,070  $  1,541,766   $  (266,933)  $1,276,903
                             =======================================================================
</TABLE>

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


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

                          CONSOLIDATED STATEMENTS OF CASH FLOWS
                     FOR THE SIX MONTHS ENDED JUNE 30, 2007 AND 2006
                                       (Unaudited)
                                        ---------


                                                                   June 30,     June 30,
                                                                     2007         2006
                                                                 ------------  ----------
<S>                                                              <C>           <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income (loss)                                              $   675,645   $(239,283)
  Adjustments to reconcile net income (loss) to net cash
    provided by operating activities:
      Depreciation                                                     3,179       6,860
      Amortization of deferred compensation under nonqualified
        stock option plan                                                  -       8,000
      Expenses paid through issuance of common stock                       -      52,500
       (Increase) decrease in accounts receivable                 (1,216,741)    285,168
      Increase in inventory                                          (30,882)    (46,672)
      Decrease (increase) in prepaid expenses                          7,007     (26,898)
      (Decrease) increase in accounts payable and accrued
        liabilities                                                  (84,518)      7,565
                                                                 ------------  ----------
          Net cash (used in) provided by operating activities       (646,310)     47,240
                                                                 ------------  ----------

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:
  Proceeds from the issuance of common stock                       1,078,514       4,000
  Advances from related parties                                      161,020     202,928
  Payments to related parties                                       (317,694)   (204,966)
                                                                 ------------  ----------
    Net cash provided by (used in) financing activities              921,840       1,962
                                                                 ------------  ----------

NET INCREASE (DECREASE) IN CASH                                      275,530      39,900

CASH, beginning of the period                                        385,474      21,050
                                                                 ------------  ----------

CASH, end of period                                              $   661,004   $  60,950
                                                                 ============  ==========

SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:
  Interest paid                                                  $     3,857   $   1,812
                                                                 ============  ==========
  Income taxes paid                                              $         -   $       -
                                                                 ============  ==========
</TABLE>

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


                                     Page 5
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (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, 2007, may not necessarily be indicative of the results that may
be expected for the year ended December 31, 2007. 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, 2006 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. In 2003,
the BB Trust agreed to forego all interest owed in connection with this note and
the  Company and BB Trust have amended the promissory note to reflect this.  The
gain  of  $148,483  was  capitalized to additional paid in capital in connection
with  the  amount  of accrued interest forgiven on the 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.


                                     Page 6
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

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.

These  consolidated  financial  statements have been prepared on a going concern
basis,  which  assumes  that  the  Company  will  continue  in operation for the
foreseeable  future  and  be  able  to  realize  its  assets  and  discharge its
liabilities  and commitments in the normal course of business. Up until December
31,  2004  the  Company  incurred  accumulated losses, and had a working capital
deficiency.

Since January 1, 2005, the Company has been working to develop future profitable
operations  and  improve the working capital position of the Company. During the
year  ended  December  31,  2005,  the  Company  refocused  its  efforts towards
operations  and  profitability. As a result, the Company increased its sales and
reduced its proportionate costs. In addition, the Company successfully completed
a  private placement subsequent to the period whereby it raised $1,107,000 which
will be used to develop new products and grow our existing business with new and
profitable  product  lines.  As  a  result of these efforts, the Company has now
reached  profitable  operations,  and  has  positive  working  capital.

The  ability  of  the  Company to continue as a going concern and to realize the
carrying  value of its assets and discharge its liabilities when they become due
is  dependent on the success of its operations. Management believes that the two
consecutive  years  of  profitability and the successful financing has mitigated
the  adverse  conditions  which  raised substantial doubt on the Company's going
concern.

These financial statements do not reflect adjustments that would be necessary if
the  Company  is  unable  to  continue  as a going concern. If the going concern
assumption  is  not appropriate for these financial statements, then adjustments
would be necessary to the carrying value of assets and liabilities, the reported
net  income,  and  the  balance  sheet  classifications  used.

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.  Any  accounts
receivable  that  are considered doubtful have been written-off by management as
bad  debt  expense. The amount of bad debt expense for the period ended June 30,
2007  and  2006  are  $20,551  and  nil. The amounts are included in general and
administrative  expense  in  the accompanying consolidated financial statements.
The  Company's  management  has  evaluated the remaining accounts receivable and
believe  they  are  all  collectible.


                                     Page 7
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


Inventory
---------

Inventories consist primarily of products held for resale, and are valued at the
lower  of  cost  (first-in,  first-out  method)  or  market. The Company adjusts
inventory for estimated obsolescence when necessary based upon demand and market
conditions.

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 reevaluates the periods of amortization to determine
whether  subsequent events and circumstances warrant revised estimates of useful
lives.  As  of  June  30,  2007,  management  expects  these  assets to be fully
recoverable.

Depreciation  expense  amounted  to $ 3,179 and $ 6,860 for the six months ended
June  30,  2007  and  2006,  respectively.

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 30 days of receipt for a full refund excluding shipping
and  handling.  The  Company  provides  an allowance for returns based upon past
experience.  All  significant  returns  for the years presented have been offset
against  gross  sales.  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 under a commission basis and only
the  commission  income  is  recorded  for  these  sales.

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

Amounts  billed to a customer for shipping and handling are included in revenue;
shipping  and  handling  revenue  approximated $ 320,211 and $16,815 for the six
months  ended  June 30, 2007 and 2006, respectively. Shipping and handling costs
are  included  in  cost  of  sales.  Shipping  and handling costs approximated $
209,289  and  $  14,390  for  the  six  months  ended  June  30,  2007 and 2006,
respectively.

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.


                                     Page 8
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)


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  $  1,884,738  and $75,907 in such costs for the periods ended
June  30,  2007  and  2006.


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. A valuation allowance is
recorded  for  deferred tax assets when it is not more likely than not that this
future  tax  asset  will  be  realized.


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

The  Company  adopted a stock option plan ("Plan").  The purpose of this Plan is
to  provide  additional  incentives  to  key  employees, officers, directors and
consultants  of  the  Company  and its subsidiaries in order to help attract and
retain  the  best  available  personnel  for  positions  of  responsibility  and
otherwise promoting the success of the business activities.  It is intended that
options  issued  under  this  Plan  constitute  nonqualified  stock options. The
general  terms  of  awards  under  the  option  plan are that 20% of the options
granted  will  vest  the  month  following  the grant, and 10% will vest every 6
months  thereafter.  The  maximum  term  of  options granted is 10 years and the
number  of  shares  authorized  for  grants  of  options  is  3,000,000.

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


                                     Page 9
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

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

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, 2007, recorded approximately $ 0
in stock compensation expense. If the Company had expensed stock options for the
six months  ended June 30, 2007, the stock compensation  expense would have been
$  0.


The following is a summary of stock options outstanding under the existing stock
option  plan  for the six months ended June 30, 2007 and year ended December 31,
2006:

<TABLE>
<CAPTION>
                                               Number of Shares              Weighted
                                   ----------------------------------------   Average
                                                        Non-                 Exercise
                                       Employee       Employee     Totals      Price
                                   ----------------  ----------  ----------  ---------
<S>                                <C>               <C>         <C>         <C>
Balance, January 1, 2006                          -  1,209,000   1,209,000   $    0.47
  Granted during 2006                             -          -           -   $    0.00
  Exercised during the year                       -     (8,000)     (8,000)  $    0.50
  Cancelled during the year                       -    (40,000)    (40,000)  $    2.00
                                   ----------------  ----------  ----------
Balance, December 31, 2006                        -  1,161,000   1,161,000   $    0.47

  Cancelled during the period                     -     (4,000)     (4,000)  $    0.50
  Exercised during the period                     -          -           -   $    0.00
                                   ----------------  ----------  ----------
Balance, June 30, 2007                            -  1,157,000   1,157,000   $    0.43
                                   ================  ==========  ==========
</TABLE>

During  the  period ended June 30, 2007 and 2006, there were no options granted.
Of  the  stock  options  currently  outstanding, 1,017,000 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, 2007
                                   (Unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

<TABLE>
<CAPTION>
For the six months ended June 30:

                                                                 2007        2006
                                                               ---------  -----------
<S>                                                            <C>        <C>
Net income (loss) as reported                                  $ 675,645  $ (239,283)
Deduct:
  Total stock based employee compensation determined under
  fair value method for all awards, net of related tax effects         -           -
                                                               ---------  -----------

Pro forma net income (loss)                                    $ 675,645  $ (239,283)
                                                               =========  ===========

Earnings (loss) per share:
  Basic - as reported                                          $    0.06  $    (0.02)
                                                               =========  ===========
  Basic - pro forma                                            $    0.06  $    (0.02)
                                                               =========  ===========

  Diluted - as reported                                        $    0.06  $    (0.02)
                                                               =========  ===========
  Diluted - pro forma                                          $    0.06  $    (0.02)
                                                               =========  ===========
</TABLE>

<TABLE>
<CAPTION>
For the three months ended June 30:

                                                                  2007        2006
                                                               ---------  -----------
<S>                                                            <C>        <C>
Net income (loss) as reported                                  $ 468,656  $ (220,851)
Deduct:
  Total stock based employee compensation determined under
  fair value method for all awards, net of related tax effects         -           -
                                                               ---------  -----------

Pro forma net income (loss)                                    $ 468,656  $ (220,851)
                                                               =========  ===========

Earnings (loss) per share:
  Basic - as reported                                          $    0.04  $    (0.02)
                                                               =========  ===========
  Basic - pro forma                                            $    0.04  $    (0.02)
                                                               =========  ===========

  Diluted - as reported                                        $    0.04  $    (0.02)
                                                               =========  ===========
  Diluted - pro forma                                          $    0.04  $    (0.02)
                                                               =========  ===========
</TABLE>


                                   Page 11
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (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  2006  financial  statements have been reclassified to
conform  to  the  2007  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,  2007,  the Company did not exceed the federally insured limit  in its
main  credit  card  merchant  account;  however  it  did  exceed  the  limit  by
approximately  $64,000  in  its  main  operating  account and by $305,000 in its
investment  savings  account. 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,  2007  and  June 30, 2006, 58% and 19% 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  42%  and 81% of the Company's accounts receivable were due from seven
and  five  international  infomercial  operators,  respectively.


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.


                                   Page 12
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


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:

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

NOTE 4 - COMMITMENTS AND CONTINGENCIES

Cell  RX(TM)
------------


During  2007  the  Company  and Info Marketing Group Inc. ("IMG") entered into a
Exclusive  License  Letter Agreement ("Agreement") granting an exclusive license
to  ICTV  with  respect  to  Cell  RX  and  associated  products  ("Product").

IMG  granted to the Company an exclusive license to manufacture, market and sell
Cell  RX  and  associated  products  anywhere  in  the  world.  With  respect to
marketing  and  selling  assistance to be provided by IMG, such assistance shall
include  making  best  efforts  to obtain commitments from all of the talent who
have  in  the  past or are presently endorsing Product to continue to do so. IMG
shall  assign  to  ICTV all of its rights with respect to intellectual property,
tangible  property,  and  agreements  related  to  Product.

ICTV  shall  pay  royalties  to IMG, up to a maximum amount of $1,000,000.00, as
follows.  ICTV  shall  make payments on a monthly basis in an amount equal to 2%
(two  percent) of the gross sales of Product in the preceding month.  ICTV shall
make  payments  in  this  manner  until  it  has  paid a total of $400,000.00 in
royalties.  Thereafter, ICTV shall make payments on a monthly basis in an amount
equal  to  1.5%  (one and one-half percent) of the gross sales of Product in the
preceding  month, until it has paid a total of $1,000,000.00 in royalties, after
which  no  further  royalties  shall  be  due.

Upon  the  Company's  purchase and payment of IMG's entire inventory of Product,
IMG  shall  convey  to  ICTV  ownership  of all of the intellectual and tangible
property  related  to  Product.  Upon conveyance of such property, the Company's
exclusive  license  shall terminate, and thereafter ICTV shall be the sole owner
of  Product,  with  all attendant rights to manufacture, market and sell Product
anywhere  in  the  world.


                                   Page 13
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


NOTE 4 - COMMITMENTS AND CONTINGENCIES (CONTINUED)

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
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.


                                   Page 14
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


NOTE 4 - COMMITMENTS AND CONTINGENCIES (CONTINUED)

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

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  2007, the Company entered into an exclusive license agreement with Omega
5  wherein  ICTV  was  assigned all of the trademarks and all of the patents and
pending  patents relating to the Derma Wand(TM)and was granted exclusive license
with  respect  to  the commercial rights to the Derma Wand(TM). The geographical
scope of the license granted is the entire world consisting of the United States
of  America and all of the rest of the world.   The license remains exclusive to
ICTV  provided  ICTV pays to Omega 5 a minimum annual royalty of $250,000 in the
initial  18  month term of the agreement and in each succeeding one-year period.
If  the  Company  fails  to  meet  the  minimum  requirements as outlined in the
agreement,  it  may be forced to assign the trademarks and patents back to Omega
5.  After  the  initial  term,  the  exclusive  license  granted  shall  renew
automatically  for  a  three  year  period,  and  thereafter  automatically  at
three-year  intervals.


SprintR
-------

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 15
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (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.


                                   Page 16
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


NOTE 4 - COMMITMENTS AND CONTINGENCIES (CONTINUED)

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


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.


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.  On  February 20, 2007, 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, 2008.  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. Our executive offices are located
in  Bainbridge  Island,  Washington and are provided to the Company at a rate of
$350  per  month  by  Kelvin  Claney,  President  of  the  Company.


                                   Page 17
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


NOTE 5 - RELATED PARTY TRANSACTIONS

The Company has received short-term advances from a shareholder.  These advances
amounted  to  $137,875  as of June 30, 2007.  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.

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, 2007, the Company issued 1,475,999 shares
of  common  stock  at  $0.75  per  share, for a total of $1,106,999 as part of a
private  placement.  Investors  will  also  receive  a  warrant  to purchase one
additional  share of the Company's stock. The exercise price of the warrant will
be  $1.00  per  share  and  is  valid and exercisable from the date of issue and
thereon  for  a  2 year period. 4,000 options were cancelled at $0.50 per share,
for  a  total  of  $2,000.


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 18
<PAGE>

                                     Page 22
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


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


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

<TABLE>
<CAPTION>
                                              Income        Shares       Per Share
For the six months ended June 30, 2007:    (Numerator)   (Denominator)    Amount
-----------------------------------------  ------------  -------------  -----------
<S>                                        <C>           <C>            <C>
Basic earnings per share
------------------------

Income available to common shareholders    $   675,645      11,332,788  $     0.06
                                           ============  =============  ===========

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

Income available to common shareholders    $   675,645      11,716,253  $     0.06
                                           ============  =============  ===========

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

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

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

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

Loss available to common shareholders      $  (239,283)     10,693,188  $    (0.02)
                                           ============  =============  ===========
                                              Income        Shares       Per Share
For the three months ended June 30, 2007:   (Numerator)  (Denominator)    Amount
-----------------------------------------  ------------  -------------  -----------

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

Income available to common shareholders    $   468,656      11,972,387  $     0.04
                                           ============  =============  ===========

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

Income available to common shareholders    $   468,656      12,483,934  $     0.04
                                           ============  =============  ===========

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

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

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

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

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


                                   Page 19
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (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 $ 267,000 related to US
federal,  foreign and state jurisdictions through June 30, 2007.  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>
                            June 30, 2007
                           ---------------
<S>                        <C>
Net operating loss         $      (33,000)
Basis of investments            2,327,000
Basis of intangibles              428,000
Basis of stock options            103,000
Accumulated amortization          107,000
Accumulated depreciation            4,000
State taxes                      (118,000)
                           ---------------
  Total deferred tax assets     2,818,000
Valuation allowance            (2,818,000)
                           ---------------
  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 income (loss) by geographic
area.  Operating  expenses  are  primarily  prorated  based  on the relationship
between  domestic  and  international  sales.


                                   Page 20
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)


NOTE 9 - SEGMENT REPORTING (CONTINUED)

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

                              For the six months ended June 30, 2007      For the six months June 30, ended 2006
                             -----------------------------------------  -------------------------------------------
                               Domestic    International     Totals       Domestic      International     Totals
                             ------------  --------------  -----------  -------------  ---------------  -----------
<S>                          <C>           <C>             <C>          <C>            <C>              <C>
NET SALES
Infomercial products         $  4,232,979  $      601,818  $ 4,834,797  $    156,045   $      346,528   $  502,573

COST OF SALES
Infomercial products         $  1,051,220  $      245,368  $ 1,296,588  $     25,036   $      248,908   $  273,944
                             ------------  --------------  -----------  -------------  ---------------  -----------
Gross profit                    3,181,759         356,450    3,538,209       131,009           97,620      228,629
                             ------------  --------------  -----------  -------------  ---------------  -----------

Operating expenses:
  Depreciation                      2,783             396        3,179         2,131            4,729        6,860
  General and administrative      331,077          42,437      373,514        96,259          212,459      308,718
  Selling and marketing         2,465,378           7,975    2,473,353       116,002           25,361      141,363
  Rent                             13,770           1,958       15,728         2,845            6,314        9,159
                             ------------  --------------  -----------  -------------  ---------------  -----------
Total operating expense         2,813,008          52,766    2,865,774       217,237          248,863      466,100
                             ------------  --------------  -----------  -------------  ---------------  -----------

Operating income (loss)      $    368,751  $      303,684  $   672,435  $    (86,228)  $     (151,243)  $ (237,471)
                             ============  ==============  ===========  =============  ===============  ===========


                              For the three months ended June 30, 2007   For the three months ended June 30, 2006
                             -----------------------------------------  -------------------------------------------
                             Domestic      International   Totals       Domestic       International    Totals
                             ------------  --------------  -----------  -------------  ---------------  -----------

NET SALES
Infomercial products         $  2,932,411  $      219,341  $ 3,151,752  $     40,511   $      139,973   $  180,484

COST OF SALES
Infomercial products         $    730,434  $      109,485  $   839,919  $     17,775   $      126,672   $  144,447
                             ------------  --------------  -----------  -------------  ---------------  -----------
Gross profit                    2,201,977         109,856    2,311,833        22,736           13,301       36,037
                             ------------  --------------  -----------  -------------  ---------------  -----------


Operating expenses:
Depreciation                        1,478             111        1,589           449            1,724        2,173
General and administrative        192,335          14,477      206,812        54,803          138,169      192,972
Selling and marketing           1,620,134          12,302    1,632,436        42,491           13,973       56,464
Rent                                7,300             549        7,849         1,023            3,060        4,083
                             ------------  --------------  -----------  -------------  ---------------  -----------
Total operating expense         1,821,247          27,439    1,848,686        98,766          156,926      255,692
                             ------------  --------------  -----------  -------------  ---------------  -----------

Operating income (loss)      $    380,730  $       82,417  $   463,147  $    (76,030)  $     (143,625)  $ (219,655)
                             ============  ==============  ===========  =============  ===============  ===========
</TABLE>


                                   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.


                                   Page 22
<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,
2007,  with  the  quarter  ended  June  30,  2006.

Revenues

Our  revenues  increased  to approximately $3,151,752 for the quarter ended June
30, 2007, up from approximately $180,500 recorded during the comparative quarter
in  2006, a 1,646% increase. In June 2007, 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 and domestic infomercial
operators  and is also selling very well in the United States through our direct
response  television  campaign.  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,  2007  were  generated  by  our  own  products,  as  was the case during the
comparative  period  in  2006.

Gross  Margin

Gross  margin  percentage  increased  to approximately 73% for the quarter ended
June  30,  2007,  compared  to  approximately 20% for the quarter ended June 30,
2006.  The increase in gross margin percentage was primarily due to the revenues
generated  from sales of our Derma Wand product directly to consumers in the US.
During  the  quarter  ended  June  30,  2007,  we  received  gross  margins  of


                                   Page 23
<PAGE>
approximately $2,312,000 for Derma Wand, and in the quarter ended June 30, 2006,
we  received  gross  margins  of  $36,000  for  Derma  Wand.

Operating  Expenses

Total  operating  expenses  increased  to  approximately  $1,849,000  during the
quarter  ended  June  30,  2007,  from approximately $256,000 during the quarter
ended  June  30,  2006,  up approximately $1,593,000, or 622%.  This increase is
attributed  primarily  to three factors; $1,091,000 in media costs were incurred
during  the  period  as  compared  to $ 15,000 during the quarter ended June 30,
2006,  $151,000  in  fulfillment charges were charged during the period compared
to  $2,000  during  the  quarter  ended  June 30, 2006, and finally  $150,000 in
answering  service charges in relation to product sales were incurred during the
period as compared to $ 4,000 during the quarter ended June 30, 2006.

Net  Income

Apart  from  the  past two fiscal years ended December 31, 2006 and December 31,
2005,  we  have  not achieved profitability on a consistent or annualized basis.
Our  net  income  of  approximately $469,000 for the quarter ended June 30, 2007
follows  up  first  quarter  2007 net income of approximately $207,000.   Market
acceptance  of  the  products we launch is the greatest 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, 2007, we had approximately $661,000 in cash on the books, compared
to  approximately  $385,000  at December 31, 2006.  We experienced negative cash
flow  from  operations  of  approximately $646,000 in the second quarter of 2007
compared  to  a  positive cash flow from operations of approximately $47,000 for
the  same  period  in  2006.  The  negative  cash  flow  from  operations  was a
combination  of  net  income, an increase to accounts receivable, an increase in
inventories,  and  a  decrease  in  prepaid  expenses  and  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 1,175,000 stock options; 900,000 at $0.35, 160,000 at
$0.36,  60,000  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 $436,300 in capital The
options  granted  on  September  28,  2001  resulted  in  a  deferred  non-cash
compensation  expense  of  approximately  $32,000.  During 2005, $16,000 of this
deferred  non-cash compensation expense was amortized; the remaining $16,000 was
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 4,000 options were cancelled during the period ended June 30,
2007.

During  the  past  two fiscal years ended December 31, 2006 and 2005, as well as
the  first  two quarters of 2007 we have generated a net income from operations.
Although  we  have  experienced  negative  cash


                                   Page 24
<PAGE>
flows  from  operating  activities,  the  Company  has  working  capital  of
approximately  $1,855,000.  The  accumulated  deficit  has  been  decreased  to
approximately  $267,000 as of June 30, 2007. Although we have negative cash flow
from  operations  at  this  time,  this  is due primarily to the decrease of our
outstanding  liabilities and an increase in our accounts receivable. During this
period,  we have obtained additional capital of approximately $1,107,000 through
the  issuance  of  common  stock;  since  our  current operations have reached a
profitable  level,  this capitalization will be used to develop new products and
expand  our  business. In an effort to reach consistent 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.


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,  2007,  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.


                                   Page 25
<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, 2007


                                    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, 2007                   By:  /s/ Kelvin Claney
                                           ------------------------
                                        Name:  Kelvin Claney
                                        Title: Chief Executive Officer


Date: August 14, 2007                   By:  /s/ Karl Redekopp
                                           ------------------------
                                        Name:  Karl Redekopp
                                        Title: Chief Financial Officer


                                    Page 27