**FORM 10-QSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.  20549**

** **

(Mark One)

    x      

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

For the quarterly period endedJanuary 31, 2005                                                              

OR

_______

TRANSITION REPORT PURSUANT TO SECTION13 OR 15 (d)OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition periodfrom ___________to _________________________________________Commission file number __________________________________________________________

**First Hartford Corporation and Subsidiaries**(Address of principal executive offices)(Zip Codes)

(860) 646-6555(Registrant's telephone number, including area code)

  N/A    (Former name, former address and former fiscal year,if changed since last report)

Indicate by check mark whether the Company (1) has filedall reports required to be filed by Section 13 or 15 (d) of the SecuritiesExchange Act of 1934 during the preceding 12 months, and (2) has been subjectto such filing requirements for the past 90 days.Yes   x                         No___Amendment_____________________________________________________________________

Amended effective November15, 2002; compliance and phase-in details in Release No. 33-8128 (¶ 86,724), 67 F.R. 58480Indicate by check markwhether the registrant is an accelerated filer (as defined in Rule 12b-2 of theExchange Act):Yes                  No  x   End of Amendment_______________________________________________________________

Indicate by check markwhether the registrant has filed all documents and reports required to be filedby Sections 12,13 or 15 (d) of the Securities Exchange Act of 1934 subsequentto the distribution of securities under a plan confirmed by a court.Yes   x             No____

APPLICABLE ONLY TO CORPORATE ISSUERS:

            Indicate the number of shares outstanding ofeach of the issuer's classes of common stock, as of the latest practicabledate.  3,089,648 shares of common stock as of January 31, 2005.

----

 

**FIRST HARTFORD CORPORATION AND SUBSIDARIES**

**INDEX**

**PART I.             FINANCIALINFORMATION**

|        |                                                            |                                                       | **PAGE**  |
|-------------|-----------------------------------------------------------------|------------------------------------------------------------|-----------|
| Item 1.     | Financial Statements                                            |                                                            |
|             |                                                                 |                                                            |           |
|             | Consolidated Balance Sheets  -                                  |                                                            |
|             |                                                                 | January 31, 2005  (unaudited) and April 30, 2004 (audited) | 3 & 4 |
|             |                                                                 |                                                            |           |
|             | Consolidated Statements of  Operations and Comprehensive Loss   |                                                            |
|             |                                                                 | For the Three Months and  Nine Months                      |      |
|             |                                                                 | Ended January 31, 2005 and  2004 (unaudited)               | 5         |
|             |                                                                 |                                                            |           |
|             | Consolidated Statements of  Cash Flows                          |                                                            |
|             |                                                                 | For the Three Months and  Nine Months                      |      |
|             |                                                                 | Ended January 31, 2005 and  2004 (unaudited)               | 6 - 7     |
|             |                                                                 |                                                            |           |
|             | Notes to Consolidated Financial  Statements                     | 8 - 10                                                     |
|             |                                                                 |                                                       |           |
| Item 2.     | Management's Discussion and  Analysis                           | 11 - 14                                                    |
|             |                                                                 |                                                       |           |
| Item 3.     | Quantitative and  Qualitative Disclosures                       |                                                            |
|             |                                                                 | About Market Risk                                          | 14        |
|             |                                                                 |                                                            |           |
| Item 4.     | Controls and Procedures                                         | 15                                                         |
|             |                                                                 |                                                            |           |
|             |                                                                 |                                                            |           |
| **PART II** | **OTHER INFORMATION**                                           |                                                            |
|             |                                                                 |                                                            |           |
| Item 1.     | Legal Proceedings                                               | 16                                                         |
|             |                                                                 |                                                       |           |
| Item 2.     | Changes in Securities, use  of Proceeds And Issuer Purchases of |                                                            |
|             | Equity Securities                                               |  16                                                   |
|             |                                                                 |                                                       |           |
| Item 3.     | Defaults Upon Senior  Executives                                |  17                                                   |
|             |                                                                 |                                                       |           |
| Item 4.     | Submission of Matters to a  Vote Of Security Holders            | 17                                                         |
|             |                                                                 |                                                            |           |
| Item 5.     | Other Information                                               |  18                                                   |
|             |                                                                 |                                                       |           |
| Item 6.     | Exhibits and Reports on  Form 8-K                               |  18                                                   |
|             |                                                                 |                                                       |           |
|             | Signatures                                                      | 19, 20                                                     |

2

----

 

**PART I.          FINANCIAL INFORMATION**

**FIRST HARTFORD CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS**

**ASSETS**

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | **Jan. 31, 2005** | **April 30, 2004** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (unaudited)       | (audited)          |
|  
Real Estate and equipment:
Developed properties
25,738,318 

24,274,133 

Equipment and leasehold improvements
      216,345 

       120,931 

 
25,954,663 

24,395,064 

       
Less accumulated depreciation
   2,430,212 

    1,933,189 

 
23,524,451 

22,461,875 

 
Properties under construction
   6,800,609

                  0

 
30,325,060 

22,461,875 

 
Cash
993,832 

1,500,030 

 
Investment in marketable securities
26,781 

676,680 

 
Accounts and notes receivable, less allowance for  doubtful accounts of $31,600
328,709 

911,901 

 
Deposits, escrows and prepaid and deferred expenses
3,278,932 

2,489,014 

 
Investment in affiliates
450,322 

239,519 

 
Due from related parties and affiliates
553,398 

966,105 

       
Deferred tax assets  
     900,000 

      900,000 

 
36,857,034 

30,145,124 
     ========  ========
** **

The accompanying notes are an integral part of theseconsolidated financial statements

3

 

**PART I - FINANCIAL INFORMATIONFIRST HARTFORD CORPORATION AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS**

**Liabilities and Shareholders Deficit**
**January 31, 2005**
**April 30, 2004**

**Liabilities:**

(unaudited)

(audited)

** **

Mortgages, notes  payable;

     Construction loans

2,621,929

5,563,476

     Mortgages payable

31,855,800

21,053,453

     Notes payable - other

     2,109,324

    1,586,601

36,587,053

28,203,530
          
     Accounts payable

1,449,716

1,737,212

     Accrued liabilities

243,724

571,828

     Accrued cost of  derivatives

0

179,059

     Minority interest

(112,537)

19,179

     Deferred income

155,099

78,654

     Other liabilities

574,055

560,998

     Due to related parties  and affiliated

        105,951

         95,786

39,003,061

31,446,246

** **

**Shareholder's Equity  (deficiency):**

** **

**    **Common Stock, $1 par; authorized 6,000,000        Shares; issued 3,322,213 shares

3,298,337

3,322,213

**    **Capital in excess of par

5,206,521

5,182,645

     Deficit

(8,412,656)

(7,450,371)

     Unearned stock  compensation

(169,271)

(291,146)

     Accumulated  comprehensive income

                    0

            3,661

** **

(77,069)

767,002

** **

     Less 232,228 shares at  January 31, 2005 and        232,228 shares at  April 30, 2004 of common        stock held in  Treasury, at cost.

     2,068,958

     2,068,124

  (2,146,027)

  (1,301,122)

36,857,034

30,145,124
     =========  =========
The accompanying notes are an integral part of theseconsolidated financial statements

 

4

**FIRST HARTFORD CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS ANDCOMPREHENSIVE LOSS**(Unaudited)

 

 

** **

** **
   
**Three Months Ended**
**Nine Months Ended**   **January 31,   2005****January 31,   2004****January 31,   2005****January 31,   2004**      
**(Restated)**   
**(Restated)****Revenues:**            
Sale of real estate

0 

0 

128,500 

73,096 

Construction

39,420 

9,428 

167,267 

114,375 

Rental income

1,280,515 

458,870 

3,536,150 

1,220,991 

Gain on derivatives

0 

0 

29,059 

0 

Other/Service Income

191,738 

172,069 

626,436 

307,287 

Equity/loss in earnings of  affiliates

161,865 

95,011 

339,414 

313,473 

Non-recurring items

                 0  

         67,221  

                  0  

        200,367  

1,673,538 

802,599 

4,826,826 

2,229,589 

**Cost  and Expenses:**

Cost of sales, real estate

0 

0 

15,304 

15,771 

Construction

(17,933)

7,116 

13,006 

28,492 

Operating

653,053 

634,007 

1,430,383 

1,057,602 

Interest

445,160 

201,494 

1,141,043 

580,208 

Loss on  derivatives

0 

0 

Depreciation and  amortization

261,128 

137,513 

669,334 

253,289 

General and administrative

572,388 

291,812 

1,615,638 

1,086,330 

Property taxes

198,427 

51,040 

536,149 

123,946 

Non-recurring expense

      188,443  

                 0  

       188,443  

                 0  

2,300,666 

1,322,982 

5,609,300 

3,145,638 

Loss before discontinued  operation

(627,128)

(520,383)

(782,474)

(916,049)

**Discontinued  Operation:**

Gain on operations of  shopping center sold

                 0  

   6,198,982  

                  0  

   6,368,350  

Net income (loss) before  income tax

(627,128)

5,678,599 

(782,474)

5,452,301 

State income tax provision

(30,219)

59,703 

(21,224)

63,854 

Deferred federal income tax

                 0 

     800,000 

                  0 

      800,000 

(30,219)

859,703 

(21,224)

863,854 

Net income (loss) before  minority interest

(596,909)

4,818,896 

(761,250)

4,588,447 

Minority interest

     (39,963)

                 0 

   (201,034)

                0

Net income (loss)

(636,872)

4,818,896 

(962,284)

4,588,447 

Other comprehensive loss,  net of taxes

         21,805 

                 0 

                 0 

                0 

Net income (loss)

   (615,067)

  4,818,896 

  (962,284)

  4,588,447 

Net income (Loss) per Share

(0.20)

1.56 

(0.31)

1.48 

Weighted Average Number of  Shares Outstanding

3,089,648 

3,089,985 

3,089,648 

3,089,985 

The accompanying notes are an integral part of theseconsolidated financial statements

 

5
****FIRST HARTFORD CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE THREE MONTHS AND NINE MONTHS ENDED JANUARY 31, 2005 AND 2004**

**                                                                                                    **
   
**Three Months Ended**
** NineMonths Ended**   **January 31,   2005****January 31,   2004****January 31,   2005****January 31,   2004**      
**(Restated)**   
**(Restated)**
Cash Flows from operating  activites:

Net Profit (loss)

($636,872)

$4,818,896 

($962,284)

$4,588,447 

Adjustments to reconcile  net loss to net cash   used in operating activities:

     Gain on sale of  property

0 

6,743,222 

0 

6,685,897 

     Depreciation

171,596 

120,332 

497,023 

356,733 

     Amortization

89,532 

91,967 

172,311 

116,161 

     Deferred Tax Asset

0

800,000

0

800,000

     Adjustment of  potential cost of derivatives

0 

0 

(179,059) 

0

     Amortized unearned  stock compensation

40,625

0

121,875

0
            
Changes in assets and  liabilities:
            
     (Increase) decrease  in:
            
     Accounts and notes  receivable, net

8,859 

394,345 

583,192 

398,884 

     Deposits, escrows,  prepaid and deferred        expense

(229,768)

(229,958)

(962,229)

(628,611)

Increase (decrease) in:

     Accrued liabilities

(93,925)

319,950 

(328,104)

190,980 

     Undistributed Minority  Interest

(42,537)

0 

(131,716)

0 

     Other liabilities

(1,097)

87,937 

13,057 

124,001 

     Deferred Income

(83,202)

0 

76,445 

0 

     Accounts payable

      161,649  

     (782,486)

      (287,496)

       (331,707)

Net cash used in operating  activities

(615,140)

12,364,205 

(1,386,985)

12,300,785 

Cash flows from investing  activities:

     Investment in  affiliates

(96,212)

155,800 

(210,803)

926,739 

     Investment in  Marketable Securities

531,737 

0 

649,899 

0 

     Purchase of equipment  and leasehold        improvements

(54,906)

(4,982)

(95,414)

(9,004)

     Reduction in prior  development cost

0

98,251

0

98,251

Payments for:

     Other Comprehensive Income

(3,661)

0

(3,661)

0

     Treasury Stock

0 

0 

(834)

0 

     Additions to  properties under construction

  (4,128,644)

  (4,836,829)

  (8,264,794)

  (4,879,200)

Net cash used in investing  activities

(3,751,686)

(4,587,760)

(7,925,607)

(3,863,214)

Cash flows from financing  activities:

     Proceeds from:

     Construction loan  payable

2,621,929 

3,701,657 

4,963,953 

4,146,791 

     Mortgage payable

5,300,000 

0 

20,150,000 

0 

     Notes payable

700,000 

0 

700,000 

0 

Principal payments on:

     Construction loan  payables

0 

0

(7,905,500)

0 

     Mortgage payable

(3,847,164)

(13,296,126)

(9,347,654)

(13,867,293)

     Notes payable

(35,289)

(258,241)

(177,277)

(588,706)

Gross proceeds on sale of  real estate

0 

5,456,964 

0 

5,530,060 

The accompanying notes are an integral part of theseconsolidated financial statements

 

6
****FIRST HARTFORD CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE THREE MONTHS AND NINE MONTHS ENDED JANUARY 31, 2005 AND 2004(continued)**

 
   **ThreeMonths Ended****Nine Months Ended**   
**January 31,  2005**
**January 31,  2004**
** January 31,  2005**
**January 31,  2004**      
**(Restated) **   
**(Restated)**
Advance from/repayment to  related parties and   affiliated partnerships

      131,737  

       134,917  

      422,872  

      (167,223)

Net cash provided by  financing activities

  4,871,213  

  (4,260,829)

  8,806,394  

  (4,946,371)

Net decrease in cash and  cash equivalent

504,387 

3,515,616 

(506,198)

3,491,200 

Cash and cash equivalents,  beginning of period

    489,445  

            4,635  

  1,500,030  

        29,051  

Cash and cash equivalents  at end of period 

$993,832 

$3,520,251 

$993,832 

$3,520,251 
     ======  ======  ======  ======
The accompanying notes are an integral part of theseconsolidated financial statements

 

7
****FIRST HARTFORD CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

** **

**Note 1: Summary of Significant Account Policies**

Description of Business

First Hartford Corporationand subsidiaries (the "Company") was incorporated in Maine in 1909, and isengaged in the purchase, development, ownership, management and sale of realestate.

Principles ofConsolidation

The accompanying financialstatements include the accounts of the Company, and its wholly ownedsubsidiaries.  All significant intercompany transactions and accounts have beeneliminated in the consolidated financial statements, including constructionrevenues and costs of development for the Company's own use (rental/futuresale).  Construction revenue from contracts between the Company and itsinvestment partnerships are shown net of the related construction costs.

Financial StatementPresentation

Because the Company isengaged in the development and sale of real estate in various states ofconstruction, the operating cycle may extend beyond one year.  Accordingly,following the usual practice of the real estate industry, the accompanyingconsolidated balance sheets are unclassified.

ConstructionRevenue

Sincethe Company is primarily involved in the development of property for its ownuse, construction revenue is recorded upon the sale of a property built forthird parties.  Revenues from projects built for third parties are recognizedon the percentage-of-completion method of accounting, based on costs incurredto date in relation to total actual costs and estimated costs to complete. Revisions in costs and profit estimates are reflected in operations during theperiod in which the facts become known.  The Company provides for estimatedlosses on contracts in the period such losses become known.  There were noproperties built for sale to third parties during the period covered by thisreport.

Asubsidiary, Lead Tech, Inc., does lead and asbestos inspections and remediationand recognizes revenue as services are provided.

RentalRevenue - Rental revenue is comprised of base rent, reimbursements for certaincosts as provided in the lease agreements such as real estate taxes, utilities,insurance, common area maintenance charges and other recoverable costs.  Thereare no contingent rents during the period covered by this report.  

TheCompany leases certain real estate to tenants under leases that may includerenewal options.  In most cases, management expects that in the normal courseof business, leases will be renewed.  In accordance with Statement of FinancialAccounting Standards No. 13 "Accounting for Leases", rental revenue isrecognized on a straight-line basis over the terms of therespective leases.

 

8
****
**FIRST HARTFORD CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**Off Balance Sheet Risk:**

Duringthe reporting period, the Company had an amount in excess of $100,000 in asingle bank.  Amounts over $100,000 are not insured by the Federal DepositInsurance Corporation.  These balances fluctuate during the year and willusually exceed this $100,000 limit. Management regularly monitors the financialinstitution, together with its cash balances, and seeks to minimize thispotential risk.    

**Investment InAffiliated Partnerships**

Inaccordance with ARB51, investments in entities in which the Company owns lessthan a 20% interest are carried at cost.  Distributions incurred from thoseentities are included in income.  Investments in entities in which the Companyhas a 20-50% interest are carried at cost adjusted for the Company'sproportionate share of their undistributed earnings or losses.  Distributionsreceived in excess of the Company's proportionate share of capital are appliedas a reduction of the cost of the investment.  

TheCompany currently has two unconsolidated operating partnerships:  The ShoppingCenter in Cranston, RI in which the Company owns a 25% interest and theShopping Center in Dover Township, NJ in which the Company owns a 50%interest.  Although the Company exercises significant influence, the Companydoes not control the operating and financial policies of these partnershipsand, therefore, are not consolidated in the financial statements.  Theseinvestments were recorded at cost and subsequently adjusted for gains, lossesand distributions.  If the carrying value of the investment is less than zero,the amount is recorded in other liabilities.

**Fair Value ofDerivative Instruments**

Inthe normal course of business, the Company is exposed to the effects ofinterest rate changes.  The Company limits its exposure with the use ofderivatives.  To mitigate the exposure to unexpected changes in interest rates,derivatives are used primarily to hedge against rate movements on some of theCompany's related debt.  Interest rate swap contracts that have been designatedand qualify as fair value hedging instruments are reported at fair value.  Thegain or loss on the derivative instrument as well as the offsetting gain orloss on the hedged item attributable to the hedged risk are recognized inearnings in the current period.

**Accounting For TheImpairment Or Disposal of Long-Lived Assets**

TheCompany has adopted Statement of Financial Accounting Standards (SFAS) No. 144,"Accounting for the Impairment or Disposal of Long-Lived Assets", whichestablished a single accounting model for the impairment or disposal oflong-lived assets including discontinued operations.  SFAS No. 144 requiresthat the operations related to properties that have been sold or propertiesthat are intended to be sold be presented as discontinued operations in theConsolidated Statement of Operations and Comprehensive Loss for all periodspresented, and properties intended to be sold to be designated as "held forsale" on the Consolidated Balance Sheet.

9
** 

**FIRST HARTFORD CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**Estimates**

Thepreparation of financial statements in conformity with accounting principlesgenerally accepted in the United States of America requires management to makeestimates and assumptions that affect the reported amount of assets andliabilities, and the disclosure of contingent assets and liabilities as of thedate of the financial statements, and the reported amounts of revenues andexpenses during the reporting period.  Actual results could differ from thoseestimates.

**Marketable Securities**

Inaccordance with SFAS No. 115 "Accounting for Certain Investments in Debt andEquity Securities" the Company determines the appropriate classification of itsinvestments in debt and equity securities at the time of purchase andre-evaluates such determination at each Balance Sheet date.  Debt securitiesfor which the Company does not have the intent to hold to maturity areclassified as available-for-sale, along with the Company's investment in equitysecurities.  Securities available-for-sale are carried at fair value, with theunrealized gains and losses reported in other comprehensive income (loss).

**Stock Compensation**

TheCompany applies Accounting Principles Board Opinion 25, "Accounting for StockIssued to Employees" ("APB 25") and related interpretations in accounting forits stock awards, and complies with the disclosure provisions of SFAS No. 123,"Accounting for Stock Based Compensation".  Under APB 25, compensation expenseis recognized over the vesting period to the extent that the fair market valueof the underlying common stock on the measurement date exceeds the exerciseprice of the employee stock award.  

**Accounting Change**

TheCompany has adopted SFAS No. 144 "Accounting for the Impairment or Disposal ofLong-Lived Assets".  As a result, there is a requirement to restate the 2003financial statements to properly present discontinued operations.  There is noeffect to net income.

Inthe current year, in accordance with SFAS No. 13 "Accounting for Leases"; theCompany recognized lease rental revenue on a straight-line basis over the termsof the respective leases.  For the quarter and nine months ended January 31,2004 the financial statements have been restated to reflect an increase of$10,071, and $30,213 respectively to rental earnings.  The income for earningsfrom affiliated has also increased $26,731 and $80,193 for the same applicationof SFAS No. 13.

**Note 2.  Employee StockOption Plan:**

On January 22, 2004, theshareholders approved a stock-option plan.  In February 2004, 250,000 optionswere granted to five employees, two of which are directors.  The options have atwo-year vesting period which were granted at $1.10 per share, representing thehighest bid price prior to the issuance of the options. The option gives theemployee the right to sell the shares back to the Company for $2.40 at the endof the vesting period.  The Company expensed $40,625 related to the options forthe quarter and $121,875 for the nine months ended January 31, 2005.

10
** 

**Item 2.            FIRST HARTFORD CORPORATION ANDSUBSIDIARIES                        MANAGEMENT'SDISCUSSION AND ANALYSIS OF FINANCIAL                        CONDITIONAND RESULTS OF OPERATIONS**

The financial and businessanalysis below provides information which the Company believes is relevant toan assessment and understanding of the Company's consolidated financialposition and results of operations.  This financial and business analysisshould be read in conjunction with the consolidated financial statements andrelated notes.

The following discussion and certain other sections ofthis Report on Form 10-Q contain statements reflecting the Company's viewsabout its future performance and constitute "forward-looking statements" underthe Private Securities Litigation Reform Act of 1995.  These views may involverisks and uncertainties that are difficult to predict and may cause theCompany's actual results to differ materially from the results discussed insuch forward-looking statements.  Readers should consider how various factorsincluding changes in general economic conditions, cost of materials, interestrates and availability of funds, and the nature of competition and relationshipswith key customers may affect the Company's performance.  The Companyundertakes no obligation to update publicly any forward-looking statements,whether as a result of new information, future events or other.

**Critical Accounting Policies**

Thediscussion and analysis of financial condition and results of operations isbased upon the Consolidated Financial Statements contained in Item 1 in thisQuarterly Report.  The Consolidated Financial Statements include the accountsof the Company and its controlled affiliates.  The preparation of financialstatements in conformity with accounting principles generally accepted in theUnited States of America requires management to make estimates and assumptionsthat affect the reported amounts of assets and liabilities and the disclosureof contingent assets and liabilities as of the date of the financial statementsand the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates.

The estimates used in the preparation of the ConsolidatedFinancial Statements are described in Note 1 to the Consolidated FinancialStatements for the periods ended January 31, 2005 and 2004.  Certainsignificant accounting policies are considered critical accounting policies dueto the increased level of assumptions used or estimates made in determiningtheir impact on the Consolidated Financial Statements.  Management has reviewedthe critical accounting policies and estimates with the Company's Board ofDirectors.

 

11

**FIRST HARTFORD CORPORATION AND SUBSIDIARIESMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS**

 

**Results of Operations**

The three and nine months ending January 31, 2005 resultin a loss of $615,067 and $962,284 respectively.  Compared to a loss beforediscontinued items of $520,383 and $916,049 for three and nine months endedJanuary 31, 2004.  Nonrecurring income of $67,221 and $200,367 were included inthe January 31, 2004 period.

Rental income has increased $821,645 and $2,315,159 forthe three and nine months ended January 31, 2005 in comparison to the periodsended January 31, 2004.  The increase in rental income is reflective of rents,real estate taxes, insurance and common area charges for Gibbs College, TexasRoadhouse and the West Springfield Shopping Center.  Only the West Springfieldcenter had any income prior to January 2004 and that was under $100,000.

Service income was approximately $173,000 and $532,000for the three and nine months ended January 31, 2005.  The West Springfieldshopping center was charged $185,000 for the six months ended October 31, 2004and was completed by that date.  The Bangor shopping center was startedapproximately August 1, 2004 and was charged $171,000 and $342,000 for thethree and nine months ended January 31, 2005.  Service income representsallocations of salary and associated costs representing an estimate of work forthe Bangor and West Springfield projects plus miscellaneous billings.  Thesecosts are in operating as well as general and administrative cost.

Cost and Expenses are in line with additional revenuefrom Gibbs College and the West Springfield Shopping Center except for:

1.         $188,000 write off of deferred financing due to a refinancing of theproperty in the three month period ended January 31, 2005.

2.         Due to a lawsuit filed by a dissident shareholder, the Company hassuffered legal expenses of $119,000 and $209,000 for the three and nine monthperiod ended January 31, 2005.

3.         The Company has expensed $40,625 and $121,875 for the three and ninemonth period ended January 31, 2005, for expensing of employee stock options.

**Capital Resources and Liquidity**

Asreported in Form 8-K filed on August 9, 2004, the Company has startedconstruction of a new 233,000 s.f. shopping center in Bangor, Maine andobtained a construction loan of $19,350,000.  The Company has paidapproximately $3,500,000 of cost on this project prior to the construction loan$700,000 of which came from a $750,000 line of credit obtained October 29,2004.  It is not anticipated at this time that any of these funds will be drawnfrom the construction loan.  As reported in Form 8K filed on December 15, 2004,the Company has entered into an agreement with a non-affiliated companyproviding for the sale of the Shopping Center in Bangor, Maine.  Consummationof the sale is subject to numerous conditions and contingencies.  The Companyexpects a closing in the quarter ending January 31, 2006, with the probabilityof a final closing within 18 months of the initial closing.  At the initialclosing the Company anticipates the return of any funds invested plus a portionof the profit which is dependant upon stores being open and paying rent.

 

12

 

Asreported in Form 8-K filed on November 1, 2004, the Company completed arefinancing of a mortgage for the Plainfield shopping center.  The Company paida prepayment premium of $159,084 to the original lender.  Proceeds from thisrefinancing (approximately $1,400,000) were used by the Company to invest invarious projects and to provide working capital for the Bangor Parkade project.

 

 

 

 

 

13

**FIRST HARTFORD CORPORATION AND SUBSIDIARIESMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS**

** **

Thefollowing schedule outlines our long-term obligations as of January 31, 2005.

Contractual  Obligations

**Total**
  Less Than1 Year
**1 - 3 Years**

**3-5 Years**
  More Than**5 Years**
Long Term Debt

  33,068,269

    1,425,732

1,608,336

11,253,621

 18,780,579

Operating Lease

       203,333 (1)

       170,000

     33,333

Purchase Obligation

    2,038,949 (2)

    2,038,949

__________

__________

___________

$35,310,551

 $3,634,681

$1,641,669

$11,253,621

$18,780,579

(1)        Shopping center in Bangor, Maineto be built on property leased until January 31, 2104.  Only payments prior toFebruary 1, 2006 are on this schedule.  Thereafter, the annual rent is $400,000with a .075% increase every 5 years.

(2)        The entire amount of purchaseobligations is for the Bangor project.

Although wary of rising interest rates, the possibilitiesof problems with major tenants, and major construction cost overruns, we feelour liquidity and capital resources are adequate to meet our needs.

**Item 3.      QUANTITATIVEAND QUALITATIVE DISCLOSURE ABOUT MARKET RISK.**

Allphases of the real estate business are inherently speculative and intenselycompetitive with many enterprises, both large and small, engaged in businessessimilar to the Company's throughout the United States.  The success of theCompany, to a large extent, depends upon factors which may be beyond the controlof management.  Some of these factors are variable construction costs, themortgage market, real estate taxes, income tax laws, government regulations,the commercial rental market and the economy.  The ability of the Company tomeet its debt service obligations and to operate profitably is also dependenton its ability to attract tenants and to compete successfully with the numerousother commercial properties available to prospective tenants.  The ability toattract tenants is dependent upon the changing character of the areas in whichthe Company's properties are located, the rate of new construction in thoseareas and the extent of present and future competition in those areas.  TheCompany's holdings are becoming less diversified both geographically and in useand types of occupancy.

TheCompany's assets are concentrated mostly in the Northeast which creates ageographic diversification risk.  The Company presently has properties fromSouthern New Jersey to Maine.

Thereal estate business does not experience "backlogs" as that term is generallyunderstood, nor is it seasonal.

Tothe Company's knowledge, its real estate business is not dependent upon asingle customer but there is a dependency on supermarkets for strip malls.  TheCompany has Stop & Shop, Price Rite and Big Y as such tenants.

14

 

**FIRST HARTFORD CORPORATION AND SUBSIDIARIESMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS**

** **

**Item 4.        CONTROLSAND PROCEDURES**

Our management, including ourchief executive officer and chief financial officer carried out an evaluationof the effectiveness of our disclosure controls and procedures as of January31, 2005, pursuant to Exchange Act Rules 13(a)-15(e) and 15(d)-15(e).  Basedupon that evaluation our chief executive officer and chief financial officerhave concluded that as of such date, our disclosure controls and procedures inplace are adequate to ensure material information and other informationrequiring disclosure is identified and communicated on a timely basis.  Therewere no significant changes in the registrant's internal controls or in otherfactors that could significantly affect these controls subsequent to the dateof their evaluation.

 

 

 

15

**FIRST HARTFORD CORPORATION AND SUBSIDIARIESOTHER INFORMATION**

**PART II          OTHER INFORMATION**

**Item 1.             LEGALPROCEEDINGS**

On January 29, 2004, a shareholder filed a Form 13D withthe Securities and Exchange Commission indicating that he controls over 19% ofthe Company shares.  That shareholder was Richard E. Kaplan, purportedly aresident of the Commonwealth of Massachusetts.  By Complaint dated February 27,2004, Mr. Kaplan, filed suit against the Company as case No. 04 10402 RCL inthe United States District Court in the District of Massachusetts.  The Companywas served with the complaint on March 2, 2004.  The complaint alleges that theproxy solicitation materials issued by the Company as a prelude to its annualmeeting on January 22, 2004, were false and/or misleading in certain respectsand also omitted certain material information.  As a result thereof, theplaintiff seeks to void the shareholder votes taken at the January 22, 2004shareholder meeting of the Company and have a new vote ordered based uponrevised proxy material which would be required to be issued by the Company. The only shareholder votes taken at the annual meeting were to re-elect thesame Board of Directors which had been serving the Company and to approve anEmployee Stock Option Plan.  

During discovery in this case, Mr. Kaplan sought, amongother things, disclosure from the Company of its shareholder list. Subsequently, on October 28, 2004, Mr. Kaplan simultaneously filed relatedlawsuits in both the United States District Court for the District of Maine andthe Superior Court for Kennebec County in the State of Maine also seekingdisclosure from the Company of its shareholder list.  After certain rulings inthese cases, the Company agreed to allow Mr. Kaplan to inspect its shareholderlist.  As a result, except for a pending motion for attorneys fees by Mr.Kaplan, the sole purpose of the Maine lawsuit(s) has been addressed.  

The Massachusetts District Court lawsuit discovery phasecontinues.

TheCompany believes strongly that information in its proxy materials was neitherfalse nor misleading and that the lawsuit is without merit.

TheCompany is not aware of any other material legal proceedings which would needto be cited herein.

The 2004 Annual Meeting was held on February 25, 2005. The management nominated board was re-elected for another term.  The Kaplanproposal for a board comprised of 80% independent directors was defeated.  Mr.Kaplan (through his counsel) claimed at the shareholder meeting that the votescast by Neil Ellis should be voided because of an alleged violation of SEC Rule13D-1 (alleged by Mr. Kaplan).  Management does not consider that claimcredible.

**Item 2.            CHANGES IN SECURITIES USE OFPROCEEDS AND ISSUER PURCHASES OF EQUITY SECURITIES**

(a)               Not Applicable.

(b)               Not Applicable.

(c)               Not Applicable.

(d)               Not Applicable.

** **

16

**Item 3.            DEFAULTSUPON SENIOR SECURITIES**

(a)               Not Applicable.

(b)               Not Applicable.  The Company hasnot declared any dividends.

**Item 4.            SUBMISSIONOF MATTERS TO VOTE OF SECURITY HOLDERS**

(a)               Not Applicable.

(b)                NotApplicable.

 

 

 

17

**FIRST HARTFORD CORPORATION AND SUBSIDIARIESOTHER INFORMATION**

**Item 5.          OTHERINFORMATION**

**Item 6.         EXHIBITSAND REPORTS ON FORM 8-K**

                        
a)            Exhibits:
 
     Exhibit 31.1
Certification ofChief Executive Officer, pursuant to Rule 13a-14(c) under the SecuritiesExchange Act of 1934.
     Exhibit 31.1
Certification ofChief Financial Officer, pursuant to Rule 13a-14(c) under the SecuritiesExchange Act of 1934.
     Exhibit 32.1
Certification ofChief Executive Officer, pursuant to 18 U.S.C. Section 1350.
     Exhibit 32.1
Certification ofChief Financial Officers, pursuant to 18 U.S.C. Section 1350.
    b)Form 8-K
Regulation FD DisclosuresRe: Construction of Police Station in  
  
Cranston, RI.
     Form 8-K
Regulations FDDisclosure RE: Shopping Center in Bangor, 
  
Maine.
     Form 8-KItem 2.03 Creation of aFinancial Obligation - Re: $9,250,000  Mortgage.       Form 8-KItem 5.03 Amendment toBy-Laws     Form 8-KItem 2.03 Creation of aFinancial Obligation - Re: $5,600,000   Mortgage.     Form 8-KItem 2.03 Creation of aFinancial Obligation - Re: $5,300,000   Mortgage.
            

18

**SIGNATURES**

Pursuant to the requirements of the Securities ExchangeAct of 1934, the Registrant has duly caused this report to be signed on itsbehalf by the undersigned thereunto duly authorized.

FIRST HARTFORD CORPORATION AND SUBSIDIARIES

    /s/ Stuart Greenwald    Stuart GreenwaldTreasurerChief Financial(Duly Authorized Officer, PrincipalFinancial and Accounting Officer)

Date:    March 15, 2005

** **

 

 

 

19

**PART II - OTHERINFORMATION**

** **

**Signatures**

Pursuantto the requirements of the Securities Exchange Act of 1934, the Registrant hasduly caused this report to be signed on its behalf by the undersigned thereuntoduly authorized.

                                                                        

**FIRSTHARTFORD CORPORATION**

**  **

**  **

**/s/**StuartI. Greenwald                 

StuartI. Greenwald

Treasurer

ChiefFinancial Officer

(DulyAuthorized Officer, Principal

Financialand Accounting Officer)

 

**Date:**March 15, 2005               

 

20********** |