| 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)                                      |

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|                                          |                                                                                                   | Page   |
|-----------------------------------------------|--------------------------------------------------------------------------------------------------------|--------|
| Part                I: Financial Information: |
|                                          |                                                                                                   |   |
|                                          | Item                1 -Financial Statements (Unaudited):                                               |   |
|                                          |                                                                                                   |   |
|                                          | Balance                Sheets                                                                          | 3      |
|                                          |                                                                                                   |   |
|                                          | Statements                of Operations                                                                | 4      |
|                                          |                                                                                                   |   |
|                                          | Statements                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**

|                                                                                                                                                                                                                                 |   | June                30, 2006 |       | March                31, 2006 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|------------|-------------------------------|--------|
|                                                                                                                                                                                                                                 |   | (unaudited)                  |       |                          |   |
|                                                                                                                                                                                                                                 |   |                         |       |                          |   |
| **Assets**                                                                                                                                                                                                                           |   |                         |       |                          |   |   |   |
| Current                assets:                                                                                                                                                                                                       |   |                         |       |                          |   |   |   |
| Cash                and cash equivalents                                                                                                                                                                                             |   | $                            | 417,851    |                          | $      | 470 |   |
| Cash                and cash equivalents held in trust Fund (Note 2)                                                                                                                                                                 |   |                         | 25,188,843 |                          |   | — |   |
| Accrued                interest receivable in Trust Fund (Note 2)                                                                                                                                                                    |   |                         | 109,999    |                          |   | — |   |
| Prepaid                expense                                                                                                                                                                                                       |   |                         | 113,451    |                          |   | — |   |
| Total                current assets                                                                                                                                                                                                  |   |                         | 25,830,144 |                          |   | 470 |   |
| Deferred                offering costs                                                                                                                                                                                               |   |                         | —    |                          |   | 110,330 |   |
| Total                assets                                                                                                                                                                                                          |   | $                            | 25,830,144 |                          | $      | 110,800 |   |
|                                                                                                                                                                                                                                 |   |                         |       |                          |   |   |   |
| **Liabilities                and Stockholders’ Equity**                                                                                                                                                                        |   |                         |       |                          |   |   |   |
| Current                liabilities:                                                                                                                                                                                                  |   |                         |       |                          |   |   |   |
| Accrued                offering costs                                                                                                                                                                                                |   |                         | 5,973      |                          |   | 12,000 |   |
| Accrued                expenses                                                                                                                                                                                                      |   |                         | 13,600     |                          |   | — |   |
| Income                tax payable (Note 9)                                                                                                                                                                                           |   |                         | 12,000     |                          |   | — |   |
| Note                payable, stockholders (Note 7)                                                                                                                                                                                   |   |                         | —    |                          |   | 75,000 |   |
| Total                current liabilities                                                                                                                                                                                             |   |                         | 31,573     |                          |   | 87,000 |   |
|                                                                                                                                                                                                                                 |   |                         |       |                          |   |   |   |
| Common                Stock, subject to possible conversion, 919,540 shares at conversion                value                (Note 2)                                                                                               |   |                         | 5,057,239  |                          |   | — |   |
|                                                                                                                                                                                                                                 |   |                         |       |                          |   |   |   |
| 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                                                                                                                                                                                            |   |                         | 20,592,714 |                          |   | 24,900 |   |
| Retained                earnings (deficit) accumulated during development stage:                                                                                                                                                     |   |                         | 148,046    |                          |   | (1,200 | ) |
|                                                                                                                                                                                                                                 |   |                         |       |                          |   |   |   |
| Total                stockholders’ equity                                                                                                                                                                                      |   |                         | 20,741,332 |                          |   | 23,800 |   |
|                                                                                                                                                                                                                                 |   |                         |       |                          |   |   |   |
| Total                liabilities and stockholders’ equity                                                                                                                                                                      |   | $                            | 25,830,144 |                          | $      | 110,800 |   |

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

----

**Jaguar        Acquisition Corporation**

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

**Statements        of Operations**

|                                                                                              |   | Three                months ended June 30, 2006 |      | Period                from June 2, 2005 (inception) to June 30, 2005 |   | Period                from June 2, 2005 (inception) to June 30, 2006 |   |
|---------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|-----------|----------------------------------------------------------------------|--------|----------------------------------------------------------------------|--------|
|                                                                                              |   | (unaudited)                                     |      |                                                                 |   | (unaudited)                                                          |   |
| Income:                                                                                           |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Interest                income                                                                    |   | $                                               | 200,840   |                                                                 | $      | —                                                              |   | $ | 200,840 |   |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Expenses:                                                                                         |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| General                and administrative and formation expenses (Note 4)                         |   |                                            | 39,594    |                                                                 |   | 1,200                                                                |   | $ | 40,794 |   |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Net                income (loss) before incomes taxes                                             |   |                                            | 161,246   |                                                                 |   | (1,200                                                               | )      |   | 160,046 |   |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Provision                for income taxes (Note 9)                                                |   |                                            | 12,000    |                                                                 |   | —                                                              |   |   | 12,000 |   |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Net                income (loss) for the period                                                   |   | $                                               | 149,246   |                                                                 | $      | (1,200                                                               | )      | $ | 148,046 |   |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Accretion                of Trust Account relating to common stock subject to possible conversion |   |                                            | (45,746   | )                                                                    |   | —                                                              |   |   | (45,746 | ) |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Net                Income (loss) attributable to other common shareholders                        |   | $                                               | 103,500   |                                                                 | $      | (1,200                                                               | )      | $ | 102,300 |   |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Weighted                average number of shares outstanding                                      |   |                                            | 5,061,722 |                                                                 |   | 1,000,000                                                            |   |   |   |   |
|                                                                                              |   |                                            |      |                                                                 |   |                                                                 |   |   |   |   |
| Net                income (loss) per share - basic and diluted                                    |   | $                                               | $0.03     |                                                                 | $      | (0.00                                                                | )      |   |   |   |

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

----

**Jaguar      Acquisition Corporation**

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

**Statements      of Stokholders' Equity**

|                                                                                                                                                                              |   | Common                Stock |               |   |   |                                      |   |                                        |       |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|--------------------|--------|--------|-------------------------------------------|--------|---------------------------------------------|------------|
|                                                                                                                                                                              |   | Shares                      |               | Amount |   | Additional                Paid-In Capital |   | Retained                Earnings/ (deficit) |       | Total                Stockholders’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                (includes799,600 shares subject to possible conversion)          |   |                        | 4,000,000          |   |   | 400                                       |   |                                        | 21,626,463 |   |   | — |   |   | 21,625,663 |   |
|                                                                                                                                                                              |   |                        |               |   |   |                                      |   |                                        |       |   |   |   |   |   |   |   |
| 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                                        |   |                                        | 669,990    |   |   | — |   |   | 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)                                                         |   |                        | —            |   |   | —                                   |   |                                        | (45,746    | ) |   | — |   |   | (45,746 | ) |
|                                                                                                                                                                              |   |                        |               |   |   |                                      |   |                                        |       |   |   |   |   |   |   |   |
| Additional                offering expenses (unaudited)                                                                                                                           |   |                        | —            |   |   | —                                   |   |                                        | (13,440    | ) |   | — |   |   | (13,440 | ) |
|                                                                                                                                                                              |   |                        |               |   |   |                                      |   |                                        |       |   |   |   |   |   |   |   |
| Net                income for the period (unaudited)                                                                                                                              |   |                        | —            |   |   | —                                   |   |                                        | —    |   |   | 149,246 |   |   | 149,246 |   |
|                                                                                                                                                                              |   |                        |               |   |   |                                      |   |                                        |       |   |   |   |   |   |   |   |
| Balance,                June 30, 2006 (unaudited)                                                                                                                                 |   |                        | 5,716,667          |   | $      | 572                                       |   | $                                           | 20,562,714 |   | $ | 148,046 |   | $ | 20,741,332 |   |

*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**

|                                                                                                                               |   | **Three                months****ended                June 30, 2006****(unaudited)** |        | **Period                from****June                2, 2005****(inception)                to****June                30, 2005** |   | **Period                from****June                2, 2005 (inception)****to                June 30, 2006****(unaudited)** |   |
|------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------|-------------|--------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------|--------|
| **Cash                Flows from Operating Activites:**                                                                            |   |                                                                                 |        |                                                                                                                           |   |                                                                                                                        |   |   |   |   |
| Net                income for the period                                                                                           |   | $                                                                                    | 149,246     |                                                                                                                           | $      | (1,200                                                                                                                      | )      | $ | 148,046 |   |
| Adjustments                    to reconcile net income for the period to net cash used in operating                    activities: |   |                                                                                 |        |                                                                                                                           |   |                                                                                                                        |   |   |   |   |
| Increase                in prepaid expenses                                                                                        |   |                                                                                 | (113,451    | )                                                                                                                              |   | -                                                                                                                           |   |   | (113,451 | ) |
| Increase                in accrued expenses                                                                                        |   |                                                                                 | 13,600      |                                                                                                                           |   | -                                                                                                                           |   |   | 13,600 |   |
| Increase                in income tax payable                                                                                      |   |                                                                                 | 12,000      |                                                                                                                           |   | -                                                                                                                           |   |   | 12,000 |   |
| Increase                in interest receivable                                                                                     |   |                                                                                 | (109,999    | )                                                                                                                              |   | -                                                                                                                           |   |   | (109,999 | ) |
| Net                cash used in operating activities                                                                               |   |                                                                                 | (48,604     | )                                                                                                                              |   | (1,200                                                                                                                      | )      |   | (49,804 | ) |
|                                                                                                                               |   |                                                                                 |        |                                                                                                                           |   |                                                                                                                        |   |   |   |   |
| **Cash                Flows from Investing Activities:**                                                                           |   |                                                                                 |        |                                                                                                                           |   |                                                                                                                        |   |   |   |   |
| Cash                and cash equivalents held in Trust Account                                                                     |   |                                                                                 | (25,188,843 | )                                                                                                                              |   | -                                                                                                                           |   |   | (25,188,843 | ) |
| Net                cash used in investing activities                                                                               |   |                                                                                 | (25,188,843 | )                                                                                                                              |   | -                                                                                                                           |   |   | (25,188,843 | ) |
|                                                                                                                               |   |                                                                                 |        |                                                                                                                           |   |                                                                                                                        |   |   |   |   |
| **Cash                Flows from Financing Activities**                                                                            |   |                                                                                 |        |                                                                                                                           |   |                                                                                                                        |   |   |   |   |
| Proceeds                from initial public offering, net                                                                          |   |                                                                                 | 25,729,828  |                                                                                                                           |   | -                                                                                                                           |   |   | 25,631,498 |   |
| Proceeds                of notes payable, shareholders                                                                             |   |                                                                                 | -           |                                                                                                                           |   | 75,000                                                                                                                      |   |   | 75,000 |   |
| Payment                of notes payable, shareholders                                                                              |   |                                                                                 | (75,000     | )                                                                                                                              |   | -                                                                                                                           |   |   | (75,000 | ) |
| Proceeds                of issuance of shares of common stock to initial shareholders                                              |   |                                                                                 | -           |                                                                                                                           |   | 25,000                                                                                                                      |   |   | 25,000 |   |
| Payment                of deferred offering costs                                                                                  |   |                                                                                 | -           |                                                                                                                           |   | (23,800                                                                                                                     | )      |   | - |   |
| Net                cash provided by financing activities                                                                           |   |                                                                                 | 25,654,828  |                                                                                                                           |   | 76,200                                                                                                                      |   |   | 25,656,498 |   |
|                                                                                                                               |   |                                                                                 |        |                                                                                                                           |   |                                                                                                                        |   |   |   |   |
| **Net                increase in cash and cash equivalents**                                                                       |   | $                                                                                    | 417,381     |                                                                                                                           | $      | 75,000                                                                                                                      |   | $ | 417,851 |   |
| Cash                and cash equivalents at beginning of period                                                                    |   |                                                                                 | 470         |                                                                                                                           |   | -                                                                                                                           |   |   | - |   |
| Cash                and cash equivalents at end of period                                                                          |   | $                                                                                    | 417,851     |                                                                                                                           |   | -                                                                                                                           |   | $ | 417,851 |   |
|                                                                                                                               |   |                                                                                 |        |                                                                                                                           |   |                                                                                                                        |   |   |   |   |
| **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                      |   | $                                                                                    | 45,746      |                                                                                                                           |   | -                                                                                                                           |   | $ | 45,746 |   |
| Fair                value of underwriter purchase option                                                                           |   | $                                                                                    | 759,500     |                                                                                                                           |   | -                                                                                                                           |   | $ | 759,500 |   |

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

----

**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**

| **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. In                the opinion of the Company, 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. |
|--------|---------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                              |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| **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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |

|   |   |   | 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 June 30,                2006 an                amount of $25,298,842 (which includes accrued interest of $109,999)                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.   |
|--------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Jaguar        Acquisition Corporation**

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

**Notes        to Unaudited Financial Statements**

|   |   |   | 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|--------|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   |   | 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   |   | 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, $5,057,239                (which includes $45,746 accretion of Trust Fund) has been classified                as                common stock subject to possible conversion at June 30,                2006. |
|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   |   | 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**

| **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. In addition, the warrants underlying such Units are exercisable                at                $5.00 per share. |
|--------|----------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **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                $7,500                for the three-month period ended June 30, 2006 and $7,500                for the period from June 2, 2005 (inception) to June 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**

| **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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------|---------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                              |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| **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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                              |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |                                              |   | At                June 30, 2006, 11,433,334 shares of common stock were reserved for                issuance upon exercise of redeemable warrants and the representative’s                unit purchase option.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |                                              |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| **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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                              |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| **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. |
|   |                                              |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| **9.** | **Provision                for Income****Taxes**  |   | Provision                for current income taxes consists of:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

|   |   |   |   | Federal |   | State         |   | TotalCurrent  |
|--------|--------|--------|--------|---------|--------|---------------|--------|---------------|
|   |   |   |   | $2,000  |   |  $10,000 |   |  $12,000 |

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

**Forward      Looking Statements**

**Plan      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:              August 14, 2006 |                                        | /s/ Jonathan              Kalman |
|                                | Jonathan Kalman.Chief Executive Officer          |
|                                |                                             |

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

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