| x | Quarterly                report under Section 13 or 15(d) of the Securities Exchange Act of                1934 |
|---|-----------------------------------------------------------------------------------------------------------------|

| o | Transition                report under Section 13 or 15(d) of the Exchange                Act |
|---|-----------------------------------------------------------------------------------------------|

| Delaware                                                                                     | 20-2942206                                                         |
|----------------------------------------------------------------------------------------------|--------------------------------------------------------------------|
| (State                or other Jurisdiction of Incorporation                or Organization) | (I.R.S.                Employer Identification                No.) |

| 1200                River Road, Suite 1302, Conshohocken, Pennsylvania                19428 |
|---------------------------------------------------------------------------------------------|
| (Address                of Principal Executive Office)                                      |

----

|                                          |                                                                                                         | Page   |
|-----------------------------------------------|--------------------------------------------------------------------------------------------------------------|--------|
| Part                I: Financial Information: |                                                                                                         |
|                                          |                                                                                                         |   |
|                                          | Item                1 –Financial                Statements (Unaudited):                                |   |
|                                          |                                                                                                         |   |
|                                          | Balance                Sheets                                                                                | 3      |
|                                          |                                                                                                         |   |
|                                          | Statements                of Operations                                                                      | 4      |
|                                          |                                                                                                         |   |
|                                          | Statement                of Stockholders’ Equity                                                       | 5      |
|                                          |                                                                                                         |   |
|                                          | Statements                of Cash Flows                                                                      | 6      |
|                                          |                                                                                                         |   |
|                                          | Summary                of Significant Accounting Policies                                                    | 7      |
|                                          |                                                                                                         |   |
|                                          | Notes                to Unaudited Financial Statements                                                       | 8      |
|                                          |                                                                                                         |   |
|                                          | Item                2 – Management’s Discussion and Analysis or Plan of                Operation | 12     |
|                                          |                                                                                                         |   |
|                                          | Item                3 – Controls and Procedures                                                        | 13     |
|                                          |                                                                                                         |   |
| Part                II: Other Information     |                                                                                                         |
|                                          |                                                                                                         |   |
|                                          | Item                2 – Unregistered Sales of Equity Securities and Use of                Proceeds     | 14     |
|                                          |                                                                                                         |   |
|                                          | Item                6 – Exhibits                                                                       | 14     |
|                                          |                                                                                                         |   |
| Signatures                                    |                                                                                                         | 15     |

----

**Jaguar        Acquisition Corporation**

**(A        corporation in the development stage)**

**Balance        Sheets**

----

|                                                                                                                                   |   | September                30, 2006 |             |  March                31, 2006 |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|------------------|-------------------------------------|--------|
|                                                                                                                                   |   | (unaudited)                       |             |                                |   |
| **Assets**                                                                                                                             |   |                              |             |                                |   |
| Current                assets:                                                                                                         |   |                              |             |                                |   |
| Cash                and cash equivalents                                                                                               |   | $                                 | 346,467          |                                | $      | 470 |   |
| Cash                and cash equivalents held in Trust Fund (Note 2)                                                                   |   |                              | 25,366,147       |                                |   | — |   |
| Accrued                interest receivable in Trust Fund (Note 2)                                                                      |   |                              | 171,361          |                                |   | — |   |
| Prepaid                expense                                                                                                    |   |                              | 91,053           |                                |   | — |   |
| Total                current assets                                                                                                    |   |                              | 25,975,528       |                                |   | 470 |   |
| Deferred                offering costs                                                                                            |   |                              |             |                                |   | 110,330 |   |
| Total                assets                                                                                                            |   | $                                 | 25,975,028       |                                | $      | 110,800 |   |
|                                                                                                                                   |   |                              |             |                                |   |   |   |
| **Liabilities                and Stockholders’ Equity**                                                                          |   |                              |             |                                |   |   |   |
| Current                liabilities:                                                                                                    |   |                              |             |                                |   |   |   |
| Accounts                payable                                                                                                        |   |                              | 3,750            |                                |   |   |   |
| Accrued                offering costs                                                                                                  |   |                              | 5,973            |                                |   | 12,000 |   |
| Accrued                expenses                                                                                                        |   |                              |             |                                |   | — |   |
| Income                tax payable (Note 9)                                                                                             |   |                              | 23,000           |                                |   | — |   |
| Note                payable, stockholders (Note 7)                                                                                     |   |                              | —          |                                |   | 75,000 |   |
| Total                current liabilities                                                                                               |   |                              | 32,723           |                                |   | 87,000 |   |
|                                                                                                                                   |   |                              |             |                                |   |   |   |
| Common                Stock, subject to possible conversion, 919,540 shares at conversion                value                (Note 2) |   |                              | 5,099,349        |                                |   | — |   |
|                                                                                                                                   |   |                              |             |                                |   |   |   |
| Commitment                (Note 4)                                                                                                     |   |                              |             |                                |   |   |   |
|                                                                                                                                   |   |                              |             |                                |   |   |   |
| Stockholders’                equity (Notes 5, 6 and 8)                                                                           |   |                              |             |                                |   |   |   |
| Preferred                stock, $.0001 par value, Authorized                                                                           |   |                              |             |                                |   |   |   |
| 1,000,000                shares; none issued                                                                                           |   |                              | —          |                                |   | — |   |
| Common                stock, $.0001 par value                                                                                          |   |                              |             |                                |   |   |   |
| Authorized                20,000,000 shares                                                                                            |   |                              |             |                                |   |   |   |
| Issued                and outstanding 5,716,667 shares (which                                                                          |   |                              |             |                                |   |   |   |
| includes                919,540 subject to possible conversion) and                                                                    |   |                              |             |                                |   |   |   |
| 1,000,000,                respectively                                                                                                 |   |                              | 572              |                                |   | 100 |   |
| Additional                paid-in capital                                                                                              |   |                              | 20,550,603  |                                |   | 24,900 |   |
| Retained                earnings (deficit) accumulated during                                                                          |   |                              |             |                                |   |   |   |
| development                stage:                                                                                                 |   |                              | 291,781          |                                |   | (1,200 | ) |
|                                                                                                                                   |   |                              |             |                                |   |   |   |
| Total                stockholders’ equity                                                                                        |   |                              | 20,842,956       |                                |   | 23,800 |   |
|                                                                                                                                   |   |                              |             |                                |   |   |   |
| Total                liabilities and stockholders’ equity                                                                        |   | $                                 | 25,975,628       |                                | $      | 110,800 |   |

*See      summary of significant accounting policies and accompanying notes to financial      statement*

----

**Jaguar      Acquisition Corporation**

**(A      corporation in the development stage)**

**Statements      of Operations**

----

|                                                               |   | Three                      monthsendedSeptember                      30, 2006 |      | Six                    months endedSeptember                    30, 2006 |   |  Period                      fromJune                        2, 2005 (inception                        to)September                        30, 2005 |   | Period                    from June                    2, 2005 (inception                    to)September                    30, 2006 |      |
|--------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|-----------|--------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|-----------|
|                                                               |   | (unaudited)                                                                   |      |  (unaudited)                                                        |   |  (unaudited)                                                                                                                                             |   |  (unaudited)                                                                                                                          |      |
|                                                               |   |                                                                          |      |                                                                |   |                                                                                                                                                     |   |                                                                                                                                  |      |
| Income:                                                            |   |                                                                          |      |                                                                |   |                                                                                                                                                     |   |                                                                                                                                  |      |
| Interest                  income                              |   | $                                                                             | 238,666   |                                                                     | $      | 439,506                                                                                                                                                       |   | $                                                                                                                                          | -         |   | $ | 439,506 |   |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| Expenses:                                                          |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| General                  and administrative                   |   |                                                                          |           |                                                                     |   |                                                                                                                                                               |   |                                                                                                                                       |           |   |   |  |   |
| and                  formation expenses (Note 4)                   |   |                                                                          | 83,931    |                                                                     |   | 123,525                                                                                                                                                       |   |                                                                                                                                       | 1,200     |   |   | 124,725 |   |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| Net                  income (loss) before income taxes             |   |                                                                          | 154,735   |                                                                     |   | 315,981                                                                                                                                                       |   |                                                                                                                                       | (1,200    | ) |   | 314,781 |   |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| Provision                  for income taxes (Note 9)               |   |                                                                          | 11,000    |                                                                     |   | 23,000                                                                                                                                                        |   |                                                                                                                                       | -         |   |   | 23,000 |   |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| Net                  income (loss) for the period                  |   | $                                                                             | 143,735   |                                                                     | $      | 292,981                                                                                                                                                       |   | $                                                                                                                                          | (1,200    | ) | $ | 291,781 |   |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| Accretion                  of Trust Account relating to            |   |                                                                          |           |                                                                     |   |                                                                                                                                                               |        |                                                                                                                                       |      |   |   |  |  |
| common                  stock subject to possible conversion  |   |                                                                          | (42,111   | )                                                                        |   | (87,857                                                                                                                                                       | )      |                                                                                                                                       | -         |   |   | (87,857 | ) |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| Net                  income (loss) attributable to other common    |   |                                                                          |           |                                                                     |   |                                                                                                                                                               |   |                                                                                                                                       |           |  |   |  |   |
| shareholders                                                  |   | $                                                                             | 101,624   |                                                                     | $      | 205,124                                                                                                                                                       |   | $                                                                                                                                          | (1,200    | ) | $ | 203,924 |   |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| Weighted                  average number of shares outstanding     |   |                                                                          | 5,717,667 |                                                                     |   | 5,389,195                                                                                                                                                     |   |                                                                                                                                       | 1,000,000 |   |   |   |   |
|                                                               |   |                                                                          |      |                                                                     |   |                                                                                                                                                          |   |                                                                                                                                       |      |   |   |   |   |
| Net                  income (loss) per share - basic and diluted   |   | $                                                                             | 0.02      |                                                                     | $      | 0.05                                                                                                                                                          |   | $                                                                                                                                          | 0.00      |   |   |   |   |

*See      summary of significant accounting policies and      accompanying notes to financial statements*

----

**Jaguar        Acquisition Corporation**

**(A        corporation in the development stage)**

**Statement        of Stockholders’ Equity**

----

|                                                                                 |   | Common                Stock |      | Additional                Paid-In |   | Retained                Earnings/ |   | Total                Stockholders’ |       |
|--------------------------------------------------------------------------------------|--------|-----------------------------|-----------|-----------------------------------|--------|-----------------------------------|--------|------------------------------------------|------------|
|                                                                                 |   | Shares                      |      | Amount                            |   | Capital                           |   | (deficit)                                |       | Equity |   |
| Balance,                June 2, 2005 (inception)                                     |   |                        | —   |                              | $      | —                           |   | $                                        | —    |   | $ | — |   | $ | — |   |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Common                shares issued to initial stockholders                          |   |                        | 1,000,000 |                              |   | 100                               |   |                                     | 24,900     |   |   | — |   |   | 25,000 |   |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Net                loss for the period                                               |   |                        |      |                              |   | —                           |   |                                     | —    |   |   | (1,200 | ) |   | (1,200 | ) |
| Balance,                March 31, 2006                                               |   |                        | 1,000,000 |                              | $      | 100                               |   | $                                        | 24,900     |   | $ | (1,200 | ) | $ | 23,800 |   |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Sale                of 4,000,000 units, net of underwriters’                   |   |                        |      |                              |   |                              |   |                                     |            |   |   |   |   |   |  |   |
| discount                and offering expenses (includes                              |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| 799,600                shares subject to possible conversion)                        |   |                        | 4,000,000 |                              |   | 400                               |   |                                     | 21,626,463 |   |   | — |   |   | 21,626,663 |   |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Proceeds                subject to possible conversion of 799,600 shares             |   |                        | —   |                              |   | —                           |   |                                     | (4,357,820 | ) |   | — |   |   | (4,357,820 | ) |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Proceeds                from issuance of underwriter purchase option                 |   |                        | —   |                              |   | —                           |   |                                     | 100        |   |   | — |   |   | 100 |   |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Proceeds                from issuance of insider units                               |   |                        | 116,667   |                              |   | 12                                |   |                                     | 699,990    |   |   | — |   |   | 700,002 |   |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Sale                of 600,000 units in overallotment (includes 119,940 shares       |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| subject                to possible conversion), net of underwriters’ discount  |   |                        | 600,000   |                              |   | 60                                |   |                                     | 3,311,940  |   |   | — |   |   | 3,312,000 |   |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Proceeds                subject to possible conversion of 119,940 shares (unaudited) |   |                        | —   |                              |   | —                           |   |                                     | (653,673   | ) |   | — |   |   | (653,673 | ) |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Accretion                of trust fund relating to common                            |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| stock                subject to possible conversion (unaudited)                      |   |                        | —   |                              |   | —                           |   |                                     | (87,857    | ) |   | — |   |   | (87,857 | ) |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Additional                offering expenses (unaudited)                              |   |                        | —   |                              |   | —                           |   |                                     | (13,440    | ) |   | — |   |   | (13,440 | ) |
|                                                                                 |   |                        |      |                              |   |                              |   |                                     |       |   |   |   |   |   |   |   |
| Net                income for the period ending September 30, 2006(unaudited)        |   |                        | —   |                              |   | —                           |   |                                     | —    |   |   | 292,981 |   |   | 292,981 |   |
| Balance,                September 30, 2006 (unaudited)                               |   |                        | 5,716,667 |                              | $      | 572                               |   | $                                        | 20,550,603 |   | $ | 291,781 |   | $ | 20,842,956 |   |

*See      summary of significant accounting policies and accompanying notes to financial      statements*

----

**Jaguar      Acquisition Corporation**

**(A      corporation in the development stage)**

**Statements      of Cash Flows**

**(Unaudited)**

----

|                                                                                                              |   | Six                    monthsended                    September 30, 2006 |                           | Period                      fromJune                      2, 2005 to                      Sept 30, 2005 |   | Period                      fromJune                      2, 2005 to                      Sept 30, 2006 |   |
|-------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|--------------------------------|---------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|--------|
|                                                                                                              |   | (unaudited)                                                              |                           | (unaudited)                                                                                             |   | (unaudited)                                                                                             |   |
| Cash                  Flows from Operating Activities                                                             |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |
| Net                  Income (loss) for the period                                                            |   |                                                                     | 292,981                        |                                                                                                    |   | (1,200                                                                                                  | )      |   | 291,781 |   |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Adjustments                  to reconcile net income                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Increase                  in prepaid expenses                                                                     |   |                                                                     | (91,553                        | )                                                                                                       |   | -                                                                                                       |   |   | (91,553 | ) |
| Increase                  in accured expenses                                                                     |   |                                                                     | 5,973                          |                                                                                                    |   | -                                                                                                       |   |   | 5,973 |   |
| Increase                  in accounts payable                                                                     |   |                                                                     | (8,250                         | )                                                                                                       |   |                                                                                                    |   |   | 3,750 |   |
| Increase                  in income tax payable                                                                   |   |                                                                     | 23,000                         |                                                                                                    |   | -                                                                                                       |   |   | 23,000 |   |
| Increase                  in interest receivable                                                                  |   |                                                                     | (171,361                       | )                                                                                                       |   | -                                                                                                       |   |   | (171,361 | ) |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Net                  cash provided by (used in) operating activities                                              |   |                                                                     | 50,790                         |                                                                                                    |   | (1,200                                                                                                  | )      |   | 61,590 |   |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Cash                  flows from Investing activities                                                             |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Cash                  and cash equivalents held in trust account                                                  |   |                                                                     | (25,366,147                    | )                                                                                                       |   | -                                                                                                       |   |   | (25,366,147 | ) |
| Net                  cash used in investing activities                                                            |   |                                                                     | (25,366,147                    | )                                                                                                       |   | -                                                                                                       |   |   | (25,366,147 | ) |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Cash                  Flow from Financing Activities                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Proceeds                  from intial public offering, net                                                        |   |                                                                     | 25,736,353                     |                                                                                                    |   | -                                                                                                       |   |   | 25,626,023 |   |
| Proceeds                  from notes payable, shareholders                                                        |   |                                                                     | -                              |                                                                                                    |   | 75,000                                                                                                  |   |   | 75,000 |   |
| Payment                  of notes payable, shareholders                                                           |   |                                                                     | (75,000                        | )                                                                                                       |   | -                                                                                                       |   |   | (75,000 | ) |
| Proceeds                  of issance of shares of common stock to intial                  shareholders            |   |                                                                     | -                              |                                                                                                    |   | 25,000                                                                                                  |   |   | 25,000 |   |
| Payment                  of deferred offering costs                                                               |   |                                                                     |       |                                                                                                    |   | (87,848                                                                                                 | )      |   |        |   |
| Net                  cash provided by financing activities                                                   |   |                                                                     | 25,661,353                     |                                                                                                    |   | 12,152                                                                                                  |   |   | 25,651,023 |   |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Net                  increase in cash and cash equivalents                                                        |   |                                                                     | 345,997                        |                                                                                                    |   | 10,952                                                                                                  |   |   | 346,467 |   |
| Cash                  and cash equivalents at beginning of period                                                 |   |                                                                     | 470                            |                                                                                                    |   | -                                                                                                       |   |   | - |   |
| Cash                  and cash equivalents at end of period                                                       |   |                                                                     | 346,467                        |                                                                                                    |   | 10,952                                                                                                  |   |   | 346,467 |   |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Supplemental                  disclosure of non-cash financing activities                                         |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Accrued                  offering costs                                                                           |   |                                                                     | 5,973                          |                                                                                                    |   | -                                                                                                       |   |   | 5,973 |   |
| Accretion                  of trust fund relating to common stock subject to possible                  conversion |   |                                                                     | 87,857                         |                                                                                                    |   | -                                                                                                       |   |   | 87,857 |   |
|                                                                                                              |   |                                                                     |                           |                                                                                                    |   |                                                                                                    |   |   |   |   |
| Fair                  value of underwriter purchase option                                                        |   |                                                                     | 759,500                        |                                                                                                    |   | -                                                                                                       |   |   | 759,500 |   |

----

**Jaguar        Acquisition Corporation**

**(A        corporation in the development stage)**

**Summary        of Significant Accounting Policies**

----

|   | **Cash                    and Cash Equivalents**            |   | The                    Company considers all highly liquid investments with original                    maturities                    of three months or less to be cash equivalents.                                                                                                                                                                                                                                                                                                                                                                                                                          |
|--------|-------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | **Securities                    Held in Trust Fund**        |   | The                    Company carries its investment in U.S. government securities                    at cost,                    which approximates fair value.                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |                                                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | **Income                    Taxes**                         |   | The                    Company follows Statement of Financial Accounting Standards No.                    109 (“SFAS                    No. 109”), “Accounting for Income Taxes” which is an asset and liability                    approach that requires the recognition of deferred tax assets                    and                    liabilities for the expected future tax consequences of events                    that have                    been recognized in the Company’s financial statements or tax                    returns.                              |
|   |                                                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | **Net                    Income (loss) Per Share**          |   | Basic                    net income (loss) per share is calculated by dividing net income                    (loss)                    attributable to common shareholders by the weighted average number                    of                    common shares outstanding during the period. No effect has been                    given to                    potential issuances of common stock from warrants or the underwriter                    option in the diluted computation, as the effect would be                    anti-dilutive.                                                          |
|   |                                                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | **Deferred                    Offering Costs**              |   | Deferred                    offering costs consist principally of legal, audit and underwriting                    fees                    incurred through the balance sheet date that were charged to                    capital upon                    receipt of the proceeds from the offering during April                    2006                                                                                                                                                                                                                                                                      |
|   |                                                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | **Use                    of Estimates**                     |   | The                    preparation of financial statements in conformity with accounting                    principles generally accepted in the United States of America                    requires                    management to make estimates and assumptions that affect the                    reported                    amounts of assets and liabilities at the date of the financial                    statements                    and the reported amounts of expenses during the reporting period.                    Actual                    results could differ from those estimates. |
|   |                                                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|   | **Recently                    Issued Accounting Standards** |   | The                    Company does not believe that any recently issued, but not yet                    effective,                    accounting standards, if currently adopted, would have a material                    effect                    on the accompanying financial                    statements.                                                                                                                                                                                                                                                                                             |

----

**Jaguar        Acquisition Corporation**

**(a        corporation in the development stage)**

**Notes        to Unaudited Financial Statements**

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| **1.** | **Basis                of Presentation**          | The                accompanying financial statements are unaudited and have been prepared                in                accordance with accounting principles generally accepted in the United                States of America for interim financial information and with the                instructions to Form 10QSB. Accordingly, certain information and                footnote                disclosures normally included in financial statements prepared in                accordance with accounting principles generally accepted in the United                States of America have been omitted pursuant to such rules and                regulations. These                financial statements should be read in conjunction with the audited                financial statements that were included in the Company’s Form 10-KSB for                the period ended March 31, 2006.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
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|   |                                              | In                the Company’s opinion, all adjustments (consisting primarily of normal                accruals) have been made that are necessary to present fairly the                financial position of the Company. Operating results for the interim                period presented are not necessarily indicative of the results to                be                expected for a full year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
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| **2.** | **Organization****and****Business****Operations** | Jaguar                Acquisition Corporation (the “Company”) was incorporated in Delaware on                June 2, 2005 as a blank check company whose objective is to acquire                an                operating business. The Company’s initial stockholders purchased 1,200,000                shares of common stock, $.0001 par value, for $25,000 in July                2005.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
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|   |                                              | The registration              statement for the Company’s initial public offering (“Offering”) was              declared effective April 5, 2006. The Company consummated the offering              on              April 13, 2006 and received net proceeds of approximately $21,600,000              from              the sale of 4,000,000 units. The Company incurred approximately $110,330              in deferred offering costs as of March 31, 2006 which were charged              to              Additional Paid-In Capital at the time of the initial public offering.              On              April 18, 2006 the underwriters exercised their over-allotment option              and              the Company received net proceeds of approximately $3,300,000.              The Company’s management has broad discretion with respect to the specific              application of the net proceeds of this Offering, although substantially              all of the net proceeds of this Offering are intended to be generally              applied toward consummating a business combination with an operating              business (“Business Combination”). Furthermore, there is no assurance that              the Company will be able to successfully effect a Business Combination.              An              amount of $25,098,002 (including $700,002 of proceeds from the Insider              Units discussed in Note 8) was placed in an interest-bearing trust              account. As at September 30, 2006 an amount of $25,537,507 (which includes              accrued interest of $171,361) is being held in an interest-bearing              trust              account (“Trust Account”) until the earlier of (i) the consummation of a              Business Combination or (ii) liquidation of the Company. Under the              agreement governing the Trust Account, funds will only be invested              in              United States government securities (Treasury Bills) with a maturity              of              180 days or less. The remaining net proceeds (not held in the Trust              Account) may be used to pay for business, legal and accounting due              diligence on prospective acquisitions and continuing general and              administrative expenses. |

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**Jaguar        Acquisition Corporation**

**(a        corporation in the development stage)**

**Notes        to Unaudited Financial Statements**

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|   |   | The                Company, after signing a definitive agreement for the acquisition                of a                target business, will submit such transaction for stockholder approval.                In                the event that stockholders owning 20% or more of the shares sold                in the                Offering vote against the Business Combination and exercise their                conversion rights described below, the Business Combination will                not be                consummated.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
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|   |   | All                of the Company’s stockholders prior to the Offering, including all of the                officers and directors of the Company (“Initial Stockholders”), have                agreed to vote their 1,000,000 founding shares of common stock in                accordance with the vote of the majority in interest of all other                stockholders of the Company (“Public Stockholders”) with respect to any                Business Combination. After consummation of a Business Combination,                these                voting safeguards will no longer be applicable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
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|   |   | With respect              to a              Business Combination which is approved and consummated, any Public              Stockholder who voted against the Business Combination may demand that              the              Company convert his shares. The per share conversion price will equal              the              amount in the Trust Account, calculated as of two business days prior              to              the consummation of the proposed Business Combination, divided by the              number of shares of common stock held by Public Stockholders at the              consummation of the Offering. Accordingly, Public Stockholders holding              19.99% of the aggregate number of shares owned by all Public Stockholders              may seek conversion of their shares in the event of a Business              Combination. Such Public Stockholders are entitled to receive their              per              share interest in the Trust Account computed without regard to the              shares              held by Initial Stockholders. In this respect, $5,099,349 (which              includes $87,857 accretion of Trust Fund) has been classified as common              stock subject to possible conversion at September 30,              2006. |
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|   |   | The                Company’s Certificate of Incorporation provides for mandatory liquidation                of the Company in the event that the Company does not consummate                a                Business Combination within 18 months from the date of the consummation                of                the Offering (such date would be October 13, 2007), or 24 months                from the                consummation of the Offering if certain extension criteria have been                satisfied. In the event of liquidation, it is likely that the per                share                value of the residual assets remaining available for distribution                (including Trust Account assets) will be less than the initial public                offering price per share in the Offering due to costs related to                the                Offering (assuming no value is attributed to the Warrants contained                in the                Units sold in the Offering (See                Note 3)).                                                                                                                                                                                                                                             |

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**Jaguar      Acquisition Corporation**

**(a      corporation in the development stage)**

**Notes      to Unaudited Financial Statements**

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| **3.** | **Offering**   | The                Company sold 4,600,000 units (“Units”) in the Offering, which includes the                600,000 Units subject to the underwriters’ over-allotment. Each Unit                consists of one share of the Company’s common stock, $.0001 par value, and                two Redeemable Common Stock Purchase Warrants (“Warrants”). Each Warrant                entitles the holder to purchase from the Company one share of common                stock                at an exercise price of $5.00 commencing the later of the completion                of a                Business Combination or one year from the effective date of the Offering                and expiring four years from the effective date of the Offering.                The                Warrants will be redeemable, upon prior written consent of                EarlyBirdCapital, Inc., the representative of the underwriters in                the                Offering (“Representative”), at a price of $.01 per Warrant upon 30 days’                notice after the Warrants become exercisable, only in the event that                the                last sale price of the common stock is at least $8.50 per share for                any 20                trading days within a 30 trading day period ending on the third day                prior                to the date on which notice of redemption is given. In connection                with                this Offering, the Company issued an option, for $100, to the                Representative to purchase 350,000 Units at an exercise price of                $9.10 per                Unit. At April 5, 2006, the Company estimated that the fair value                of this                unit purchase option was approximately $759,500 ($2.17 per Unit)                using a                Black-Scholes option-pricing model. The fair value of the unit purchase                option was estimated using the following assumptions: (1) expected                volatility of 48.79%, (2) risk-free interest rate of 4.79% and (3)                expected life of 5 years. The Company accounted for the fair value                of the                unit purchase option as an expense of the Offering resulting in a                charge                directly to stockholders' equity. The unit purchase option may be                exercised for cash or on a "cashless" basis, at the holder's option,                such                that the holder may use the appreciated value of the unit purchase                option                (the difference between the exercise prices of the unit purchase                option                and the underlying Warrants and the market price of the Units and                underlying securities) to exercise the unit purchase option without                the                payment of any cash. In addition, the Warrants underlying such Units                are                exercisable at $5.00 per share. |
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| **4.** | **Commitment** | The                Company presently occupies office space provided by an affiliate                of an                Initial Stockholder. Such affiliate has agreed that, until the acquisition                of a target business by the Company, it will make such office space,                as                well as certain office and secretarial services, available to the                Company,                as may be required by the Company from time to time. The Company                has                agreed to pay such affiliate $3,750 per month for such services commencing                on April 5, 2006, the effective date of the Offering. Amounts of                $15,000                for the three-month period ended September 30, 2006 and $22,500                for the period from June 2, 2005 (inception) to September 30, 2006                are                included in general and administrative expenses for such                services.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

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**Jaguar      Acquisition Corporation**

**(a      corporation in the development stage)**

**Notes      to Unaudited Financial Statements**

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| **5.** | **Preferred                Stock**               | The                Company is authorized to issue 1,000,000 shares of preferred stock                with                such designations, voting and other rights and preferences as may                be                determined from time to time by the Board of Directors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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| **6.** | **Common                Stock**             | On                February                6, 2006, the Company's Board of Directors authorized a stock dividend                of                0.333333 shares of common stock for each outstanding share of common                stock. All references in the accompanying financial statements to                the                number of shares of common stock have been retroactively restated                to                reflect these transactions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
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|   |                                             | At                September 30, 2006, 10,483,334 shares of common stock were reserved                for                issuance upon exercise of redeemable warrants and the representative’s                unit purchase option.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
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| **7.** | **Notes                Payable****Stockholders** | In                June 2005, the Company issued an aggregate of $75,000 unsecured promissory                notes to its Initial Stockholders. The notes are non-interest-bearing                and                were paid following the consummation o the Offering from the net                proceeds                of the Offering.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
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| **8.** | **Insider                Units**                 | Simultaneously                with the consummation of the Offering on April 13, 2006, certain                of the                Initial Stockholders and their affiliates purchased an aggregate                of                116,667 Units (“Insider Units”) at $6.00 per unit (for an aggregate                purchase price of $700,002) privately from the Company. All of the                proceeds received from these purchases were placed in the Trust Account.                The Insider Units are identical to the Units offered in the Offering                except that the Warrants underlying such Units may be exercisable                on a                cashless basis so long as such Warrants are held by the Initial                Stockholders or their affiliates. Additionally, the purchasers have                waived                their right to receive distributions upon the Company’s liquidation prior                to a Business Combination with respect to the securities underlying                these                Insider Units. The purchasers have further agreed that the Insider                Units                and underlying securities will not be sold or transferred by them                until                after the Company has completed a Business Combination. |
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| **9.** | **Provision                for Income****Taxes** | Provision                for current income taxes consists                of:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

| Federal |   | State |   | Total                    Current |   |
|---------|--------|-------|--------|----------------------------------|--------|
| $2,000  |   | $     | 21,000 |                             | $      | 23,000 |   |

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**ITEM      2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF      OPERATION**

**Overview**

**Forward      Looking Statements**

**Results      of Operations**

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**ITEM      3. CONTROLS AND PROCEDURES.**

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**PART      II. **

**OTHER      INFORMATION**

**ITEM      2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF      PROCEEDS**

**ITEM      6: EXHIBITS**

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**SIGNATURES**

|                                  |                                 | **JAGUAR                AQUISITION****CORPORATION** |
|---------------------------------------|--------------------------------------|-----------------------------------------------------|
| Dated:              November 14, 2006 |                                 |
|                             |                            |                                           |
|                                  |                                      | /s/ Jonathan Kalman                                 |
|                                  | Jonathan              Kalman.        |
|                                  | Chief              Executive Officer |

|   |                          |                 |
|--------|-------------------------------|----------------------|
|        |                          | /s/ James S. Cassano |
|   | James              S. Cassano |
|   | Chief Financial Officer       |

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