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

                                  FORM 10-QSB/A
                                 Amendment No. 1
MARK ONE

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

          For the quarterly period ended September 30, 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 October 31, 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 OF CONTENTS

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                                                     26

SIGNATURES                                                             27


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

<S>                                                                                   <C>
ITEM 1.   FINANCIAL STATEMENTS

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

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

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

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

          Notes to the Consolidated Financial Statements                              6-20
</TABLE>


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

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

                                                                September 30,
                                                                    2006
                                                               ---------------
                                     ASSETS
                                     ------
<S>                                                            <C>
CURRENT ASSETS:
  Cash and cash equivalents                                    $        9,150
  Accounts receivable (net)                                           822,617
  Inventory                                                           229,302
  Prepaid expenses and deposits                                        47,173
  Deferred tax asset, less valuation allowance of $3,084,000                -
                                                               ---------------
    Total current assets                                            1,108,242
                                                               ---------------

FURNITURE AND EQUIPMENT:
  Furniture and equipment                                             120,169
  Less accumulated depreciation                                       104,313
                                                               ---------------
    Furniture and equipment, net                                       15,856
                                                               ---------------

      Total assets                                             $    1,124,098
                                                               ===============

                    LIABILITIES ANDDEFICIENCY IN ASSETS
                    -----------------------------------

CURRENT LIABILITIES:
  Accounts payable and accrued liabilities                     $      798,665
  Accounts payable and accrued liabilities - related parties          147,593
  Due to related parties                                              464,452
                                                               ---------------
    Total current liabilities                                       1,410,710
                                                               ---------------

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  September 30, 2006                                   594
  Additional paid-in-capital                                          456,728
  Accumulated deficit                                              (1,334,657)
                                                               ---------------
    Total  deficiency in assets                                      (877,335)
                                                               ---------------

      Total  liabilities and deficiency in assets              $    1,124,098
                                                               ===============
</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 NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
                                                  (Unaudited)
                                                   ---------

                                                For the three months ended        For the nine months ended
                                            --------------------------------  --------------------------------
                                             September 30,    September 30,    September 30,    September 30,
                                                 2006             2005             2006             2005
                                            ---------------  ---------------  ---------------  ---------------
<S>                                         <C>              <C>              <C>              <C>
NET SALES
Infomercial products                        $    1,035,466   $      419,223   $    1,538,039   $    1,076,157
Trademarks                                               -                -                -          800,000
                                            ---------------  ---------------  ---------------  ---------------
                                                 1,035,466          419,223        1,538,039        1,876,157
                                            ---------------  ---------------  ---------------  ---------------
COST OF SALES
Infomercial products                        $      244,074   $      203,431   $      518,018   $      523,557
Trademarks                                               -                -                -          300,000
                                            ---------------  ---------------  ---------------  ---------------
                                                   244,074          203,431          518,018          823,557
                                            ---------------  ---------------  ---------------  ---------------

GROSS PROFT                                        791,392          215,792        1,020,021        1,052,600
                                            ---------------  ---------------  ---------------  ---------------

OPERATING EXPENSES:
  Depreciation                                       2,173            4,686            9,033           14,060
  General and administrative                       142,743          118,500          451,462          363,859
  Selling and marketing                            447,824           31,416          589,188          246,691
  Rent                                               6,643            5,735           15,801           17,650
                                            ---------------  ---------------  ---------------  ---------------
    Total operating expenses                       599,383          160,337        1,065,484          642,260
                                            ---------------  ---------------  ---------------  ---------------

OPERATING INCOME (LOSS)                            192,009           55,455          (45,463)         410,340

INTEREST EXPENSE:
  Interest expense                                   1,268              323            3,080            3,411
                                            ---------------  ---------------  ---------------  ---------------

INCOME (LOSS) BEFORE INCOME TAXES                  190,741           55,132          (48,543)         406,929
                                            ---------------  ---------------  ---------------  ---------------

INCOME TAXES
  Income tax expense                                64,852           18,745                -          138,356
  Tax benefit of net operating loss
  carry forward                                    (64,852)         (18,745)               -         (138,356)
                                            ---------------  ---------------  ---------------  ---------------

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

NET INCOME (LOSS)                           $      190,741   $       55,132   $      (48,543)  $      406,929
                                            ===============  ===============  ===============  ===============

BASIC NET INCOME (LOSS) PER
SHARE                                       $         0.02   $         0.01   $        (0.00)  $         0.04
                                            ===============  ===============  ===============  ===============

FULLY DILUTED NET INCOME (LOSS) PER SHARE   $         0.02   $         0.01   $        (0.00)  $         0.04
                                            ===============  ===============  ===============  ===============
</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 DEFICIENCY IN ASSETS

                                           Common Stock
                                         $0.001 par value       Additional    Accumulated
                                    -------------------------     Paid-In     Accumulated    Deficiency in
                                      Shares        Amount        Capital       Deficit         Assets
                                    -----------  ------------  ------------  -------------  ---------------
<S>                                 <C>          <C>           <C>           <C>            <C>
Balances, January 1, 2005            10,635,188  $        536  $    346,405  $ (1,693,981)  $   (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       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                                                   8,000                          8,000

Net loss                                      -             -             -       (48,543)         (48,543)
                                    -----------------------------------------------------------------------

Balances, September 30, 2006         10,693,188  $        594  $    456,728  $ (1,334,657)  $     (877,335)
                                    =======================================================================
</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 NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
                                           (Unaudited)
                                            ----------

                                                                  September 30,    September 30,
                                                                      2006             2005
                                                                 ---------------  ---------------
<S>                                                              <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income (loss)                                              $      (48,543)  $      406,929
  Adjustments to reconcile net income (loss) to net cash
    provided by (used in) operating activities:
      Depreciation                                                        9,033           14,060
      Amortization of deferred compensation under nonqualified
        stock option plan                                                 8,000            8,000
      Expenses paid through issuance of common stock                     52,500                -
  Change in assets and liabilities:
      Increase in accounts receivable                                  (390,874)         (68,118)
      (Increase) decrease  in inventory                                (170,328)          33,406
      Increase in prepaid expenses                                      (16,017)         (10,485)
      Increase (decrease) in accounts payable and accrued
        liabilities                                                     546,704          (99,347)
                                                                 ---------------  ---------------
          Net cash (used in) provided by operating activities            (9,525)         284,445
                                                                 ---------------  ---------------

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                              4,000                -
  Advances from related parties                                         236,546           97,163
  Payments to related parties                                          (233,619)        (378,799)
                                                                 ---------------  ---------------
      Net cash provided by (used in) financing activities                 6,927         (281,636)
                                                                 ---------------  ---------------

NET (DECREASE) INCREASE IN CASH                                         (11,900)           2,809

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

CASH, end of period                                              $        9,150   $       98,000
                                                                 ===============  ===============

SUPPLEMENTAL DISCLOSURES OF CASH FLOWS
INFORMATION:
  Interest paid                                                  $        3,080   $        3,411
                                                                 ===============  ===============
  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
                               SEPTEMBER 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 nine month period
ended  September 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. 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
                               SEPTEMBER 30, 2006
                                   (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  managed  from Washington State and British Columbia.

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  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  September  30,  2006,  management  expects  these  assets  to  be  fully
recoverable.  Depreciation expense amounted to $ 2,173 and $ 4,686 for the three
months ended September 30, 2006 and 2005, respectively, and $ 9,033 and $ 14,060
for  the  nine  months  ended  September  30,  2006  and  2005,  respectively.


                                     Page 7
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 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
---------------------
Amounts  billed to a customer for shipping and handling are included in revenue;
shipping  and handling revenue approximated $126,700 and nil for the nine months
ended September 30, 2006 and 2005, respectively. Shipping and handling costs are
included  in cost of sales. Shipping and handling costs approximated $62,174 and
$13,400  for  the  nine  months ended September 30, 2006 and 2005, 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.

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 $ 397,584 and $225,600 in such costs for the nine months ended
September  30,  2006  and  2005,  respectively.

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
                               SEPTEMBER 30, 2006
                                   (Unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

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  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 nine months ended September 30, 2006, issued no warrants
and,  therefore,  recorded  no  stock  compensation  expense.


                                     Page 9
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 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  nine  months  ended  September  30,  2006:

<TABLE>
<CAPTION>
                                                                             Weighted
                                          Number of Shares                   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, September 30, 2006               -     1,161,000      1,161,000   $        0.43
                               ============  =============  =============
</TABLE>

During  the  period  ended  September  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.

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


                                    Page 10
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

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

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

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
September 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 September
30,  2006,  69%  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  31%  of  the  Company's  accounts
receivable  were  due  from  five  international  infomercial  operators.

Change  in  Accounting  Method
------------------------------

In  2003,  a  gain  of  $148,483  was  recorded in connection with the amount of
accrued  interest  forgiven  on  the  note  payable to the BB Trust. However, as
contemplated  by  footnote  1 to paragraph 20 of APB 26, we have determined that
this  forgiveness  of  interest  represents  the  extinguishment  of a liability
between  related  entities. Thus  we  are  revising  our accounting treatment to
characterize the forgiveness of interest as a capital transaction, and have made
the  appropriate  adjustment  to  "Paid  in  Capital" and "Accumulated Deficit".

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 11
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2006
                                   (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

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  is  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
-----------

On  August  17,  1999,  WSL entered into a production agreement with BAG for the
creation of infomercials of Derma Wand.  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  is  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 quarter ended March 31, 2005 the agreement was
amended such that royalties payable on units sold after December 31, 2004 cease.


                                    Page 12
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

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

NOTE 4 - COMMITMENTS AND CONTINGENCIES (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  was  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.

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.

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


                                    Page 13
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

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

NOTE 4 - COMMITMENTS AND CONTINGENCIES (CONTINUED)

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.

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.


                                    Page 14
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

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

NOTE 4 - COMMITMENTS AND CONTINGENCIES (CONTINUED)

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

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  $464,454  as of September 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.

The  Company  has  not  received  or  repaid  any  short-term  advances  from
shareholders,  officers  and  directors  of  the Company during the period ended
September  30,  2006. Any advances are due on demand. Any advances or repayments
would  be  included in "Due to related parties" on the accompanying consolidated
balance  sheets.


                                    Page 15
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

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

NOTE 5 - RELATED PARTY TRANSACTIONS (CONTINUED)

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 nine months ended September 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 registered
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 dilutive 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 loss per share gives the effect to all
dilutive potential common shares outstanding during the period.  The computation
of  diluted  loss  per  share does not assume conversion, exercise or contingent
exercise  of  securities  that  would  have  an  anti-dilutive effect on losses.


                                    Page 16
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

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

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

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

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

Loss available to common shareholders              $   (48,543)     10,693,188  $    (0.00)
                                                   ============  =============  ===========

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

Loss available to common shareholders              $   (48,543)     10,975,988  $    (0.00)
                                                   ============  =============  ===========


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

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

Income available to common shareholders            $   406,929      10,635,188  $     0.04
                                                   ============  =============  ===========

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

Income available to common shareholders            $   406,929      10,724,698  $     0.04
                                                   ============  =============  ===========


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

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

Income available to common shareholders            $   190,741      10,693,188  $     0.02
                                                   ============  =============  ===========

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

Income available to common shareholders            $   190,741      10,934,069  $     0.02
                                                   ============  =============  ===========


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

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

Income available to common shareholders            $    55,132      10,635,188  $     0.01
                                                   ============  =============  ===========

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

Income available to common shareholders            $    55,132      10,645,021  $     0.01
                                                   ============  =============  ===========
</TABLE>


                                    Page 17
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 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 $1,200,000 related to US
federal,  foreign  and  state  jurisdictions  through  September  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>
                              September 30, 2006
                             --------------------
<S>                          <C>
Net operating loss           $           245,000
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            3,084,000
Valuation allowance                   (3,084,000)
                             --------------------
  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 18
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

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

NOTE 9 - SEGMENT REPORTING (CONTINUED)

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

<TABLE>
<CAPTION>
                              For the nine months ended September 30, 2006       For the nine months ended September 30, 2005
                          ---------------------------------------------------  -------------------------------------------------
                              Domestic       International        Totals          Domestic       International       Totals
                          ----------------  ---------------  ----------------  ---------------  ---------------  ---------------
<S>                       <C>               <C>              <C>               <C>              <C>              <C>
NET SALES
Infomercial products      $       833,091   $       704,948  $     1,538,039   $             -  $     1,076,157  $     1,076,157
Trademarks                              -                 -                -           800,000                -          800,000
                          ----------------  ---------------  ----------------  ---------------  ---------------  ---------------
                                  833,091           704,948        1,538,039           800,000        1,076,157        1,876,157
                          ----------------  ---------------  ----------------  ---------------  ---------------  ---------------
COST OF SALES
Infomercial products      $        79,484   $       438,534  $       518,018   $             -  $       523,557  $       523,557
Trademarks                              -                 -                -           300,000                -          300,000
                          ----------------  ---------------  ----------------  ---------------  ---------------  ---------------
                                   79,484           438,534          518,018           300,000          523,557          823,557
                          ----------------  ---------------  ----------------  ---------------  ---------------  ---------------
Gross profit                      753,607           266,414        1,020,021           500,000          552,600        1,052,600
                          ----------------  ---------------  ----------------  ---------------  ---------------  ---------------

Operating expenses:
  Depreciation                      4,893             4,140            9,033             5,995            8,065           14,060
  General and                     235,978           215,484          451,462           155,151          208,708          363,859
    administrative
  Selling and marketing           563,824            25,364          589,188           105,190          141,501          246,691
  Rent                              8,560             7,241           15,801             7,526           10,124           17,650
                          ----------------  ---------------  ----------------  ---------------  ---------------  ---------------
Total operating expense           813,255           252,229        1,065,484           273,862          368,398          642,260
                          ----------------  ---------------  ----------------  ---------------  ---------------  ---------------

Operating income (loss)   $       (59,648)  $        14,185  $       (45,463)  $       226,138  $       184,202  $       410,340
                          ================  ===============  ================  ===============  ===============  ===============
</TABLE>

<TABLE>
<CAPTION>
                            For the three months ended September 30, 2006      For the three months ended September 30, 2005
                          -------------------------------------------------  -------------------------------------------------
                             Domestic       International       Totals          Domestic       International       Totals
                          ---------------  ---------------  ---------------  ---------------  ---------------  ---------------
<S>                       <C>              <C>              <C>              <C>              <C>              <C>
NET SALES
Infomercial products      $       677,046  $       358,420  $     1,035,466  $             -  $       419,223  $       419,223
Trademarks                              -                -                -                -                -                -
                          ---------------  ---------------  ---------------  ---------------  ---------------  ---------------
                                  677,046          358,420        1,035,466                -          419,223          419,223
                          ---------------  ---------------  ---------------  ---------------  ---------------  ---------------
COST OF SALES
Infomercial products      $        54,448  $       189,626  $       244,074  $             -  $       203,431  $       203,431
Trademarks                              -                -                -                -                -                -
                          ---------------  ---------------  ---------------  ---------------  ---------------  ---------------
                                   54,448          189,626          244,074                -          203,431          203,431
                          ---------------  ---------------  ---------------  ---------------  ---------------  ---------------
Gross profit                      622,598          168,794          791,392                -          215,792          215,792
                          ---------------  ---------------  ---------------  ---------------  ---------------  ---------------

Operating expenses:
  Depreciation                      1,421              752            2,173                -            4,686            4,686
  General and                      93,333           49,410          142,743                -          118,500          118,500
    administrative
  Selling and marketing           429,911           17,913          447,824                -           31,416           31,416
  Rent                              4,344            2,299            6,643                -            5,735            5,735
                          ---------------  ---------------  ---------------  ---------------  ---------------  ---------------
Total operating expense           529,009           70,374          599,383                -          160,337          160,337
                          ---------------  ---------------  ---------------  ---------------  ---------------  ---------------

Operating income (loss)   $        93,589  $        98,420  $       192,009  $             -  $        55,455  $        55,455
                          ===============  ===============  ===============  ===============  ===============  ===============
</TABLE>


                                    Page 19
<PAGE>
                    INTERNATIONAL COMMERCIAL TELEVISION INC.

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 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  has  generated  positive  cash  flows  from operating activities in the
past,  the  Company,  for  the  most part, has experienced recurring losses from
operations.  In  addition,  the  Company  has  a  working  capital deficiency of
approximately $302,000 and an accumulated deficit of approximately $1,334,000 as
of  September  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 20
<PAGE>
ITEM  2.     MANAGEMENT'S  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

Comparison  of  Quarterly  Results

The  following  discussion  compares  our  results of operations for the quarter
ended  September  30,  2006,  with  the  quarter  ended  September  30,  2005.

Revenues

Our  revenues  increased  to  approximately  $1,035,000  for  the  quarter ended
September  30,  2006,  up  from  approximately  $419,000  recorded  during  the
comparative  quarter  in 2005, a 147% increase. Our Derma Wand product generated
100%  of  the  revenues,  as  was  the case during the same period in 2005.  All
revenues  recorded during the quarter ended September 30, 2006 were generated by
our  own  products,  as  was the case during the comparative period in 2005. The
increase in revenue was due primarily to the launch of a major media campaign in
the  U.S.  where  we  aired  our own infomercial and sold our Derma Wand product
directly  to  the  consumer.  The  sales  price  per  unit was $119.80 U.S. plus
shipping  and  handling.

Gross  Margin

Gross  margin  percentage  increased  to approximately 76% for the quarter ended
September  30,  2006,  compared  to  approximately  51%  for  the  quarter ended
September  30,  2005.  The  increase  in  gross  margin


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<PAGE>
percentage  was primarily due to the revenues generated from domestic Derma Wand
sales  where  our  cost  of  sales is substantially lower than our international
sales.

Operating  Expenses

Total  operating expenses increased to approximately $600,000 during the quarter
ended  September  30, 2006, from approximately $160,000 during the quarter ended
September  30,  2005,  up  approximately  $440,000,  or  275%.  This increase is
attributed  primarily  to  increased domestic sales of the Derma Wand and all of
the  associated  media,  production  and  fulfillment  costs.  General  and
administrative  costs were $142,700 during the quarter ended September 30, 2006,
as compared to $118,500 during the quarter ended September 30, 2005 (an increase
of  20%)  and selling and marketing costs were $447,000 during the quarter ended
September  30,  2006,  as compared to $31,400 during the quarter ended September
30,  2005  (an  increase  of  1324%).

Net  Income

Apart  from  certain  quarters  over  the  last  two years, we have not achieved
profitability  on  a  consistent  or  annualized basis.  Our net income of  over
$190,000  for  the  quarter ended September 30, 2006 follows up a second quarter
2006  net loss of over $220,000.  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  September  30,  2006,  we  had  approximately  $9,000  in cash on the books,
compared to approximately $21,000 at December 31, 2005.  We experienced negative
cash  flow  from operations of approximately $9,500 in the third quarter of 2006
compared  to  a positive cash flow from operations of approximately $284,000 for
the  same  period  in  2005.  The  negative  cash  flow  from  operations  was a
combination  of  net  loss,  an  increase to accounts receivable, an increase in
inventories and an increase in payables and accrued liabilities and the issuance
of  50,000  shares  for  consulting  fees.

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

We  have  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  nine  month  period  ended  September  30,  2006.


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<PAGE>
Apart  from  the  past  fiscal  year and the third quarter of the current fiscal
year,  we have experienced recurring losses from operations and have experienced
negative  cash  flows from operating activities.  In addition, we have a working
capital  deficiency  of  approximately  $302,000  and  an accumulated deficit of
approximately  $1,334,000  as of September 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 at December 31, 2005.  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

Our  Company  maintains  disclosure controls and procedures that are designed to
ensure  that  information required to be disclosed in our 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  our  Company's  management, including our 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  September  30, 2006, we carried out an evaluation, under the supervision
and  within  the  participation of our management, including our Chief Executive
Officer  and  Chief  Financial  Officer,  of the effectiveness of the design and
operation  of  our  disclosure controls and procedures.  Based on the foregoing,
our  Chief  Executive  Officer  and  Chief  Financial Officer concluded that our
disclosure  controls  and  procedures  were  effective.

There  has  been  no  change  in  our 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

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


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<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: March 8, 2007           By:   /s/ Kelvin Claney
                                 -----------------------------
                              Name:  Kelvin Claney
                              Title: Chief Executive Officer


Date: March 8, 2007           By:   /s/ Karl Redekopp
                                 -----------------------------
                              Name:  Karl Redekopp
                              Title: Chief Financial Officer


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