**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**FORM      10-QSB**

| [X]                | Quarterly                Report pursuant to Section 13 or 15(d) of the Securities Exchange                Act of                1934 |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------|
|               |                                                                                                                                 |
|               | For                the quarterly period ended September                30, 2006                                                      |
|               |                                                                                                                                 |
| [                ] | Transition                Report pursuant to 13 or 15(d) of the Securities Exchange Act of                1934                       |
|               |                                                                                                                                 |
|               | For                the transition period __________                  to __________                                    |
|               |                                                                                                                                 |
|               | Commission                File Number: 333-130084                                                                                    |

| Nevada                                                                                             | E.I.N.                Number Pending             |
|----------------------------------------------------------------------------------------------------|--------------------------------------------------|
| (State                or other jurisdiction of incorporation or                organization)  | (IRS                Employer Identification No.) |

| 353                West 7th Avenue , Vancouver, British Columbia, Canada V5Y                1M2 |
|-------------------------------------------------------------------------------------------------|
| (Address                of principal executive offices)                                         |

| 604-723-6877                                                                                                     |
|------------------------------------------------------------------------------------------------------------------|
| (Issuer’s                telephone number)                                                                 |
|  _______________________________________________________________                                            |
| (Former                name, former address and former fiscal year, if changed since last                report) |

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Table          of Contents

|                                                      | TABLE                OF CONTENTS                                                          |   Page |
|-----------------------------------------------------------|-------------------------------------------------------------------------------------------|------------------|
|  PART                I - FINANCIAL INFORMATION  |
| Item                1.                                    | Financial                Statements                                                       |  3          |
| Item                2.                                    | Plan                of Operation                                                          |  4          |
| Item                3.                                    | Controls                and Procedures                                                    |  10         |
|  PART                II - OTHER INFORMATION     |
| Item                1.                                    | Legal                Proceedings                                                          | 11               |
| Item                2.                                    | Unregistered                Sales of Equity Securities and Use of                Proceeds |  11         |
| Item                3.                                    | Defaults                Upon Senior Securities                                            |  11         |
| Item                4.                                    | Submission                of Matters to a Vote of Security                Holders         |  11         |
| Item                5.                                    | Other                Information                                                          |  11         |
| Item                6.                                    | Exhibits                                                                                  |  11         |

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Table          of Contents

**PART      I - FINANCIAL INFORMATION**

**Item      1.** **     Financial      Statements**

| Our                unaudited financial statements included in this Form 10-QSB are as                follows: |
|---------------------------------------------------------------------------------------------------------------|
|  F-1                                                                                                     |  Unaudited                Balance Sheet as of September 30,                2006 |
|  F-2                                                                                                     |  Unaudited                Statements                of Operations for the three and six months ended September 30, 2006                and                2005 and period from April 2, 2004 (Inception) through September                30, 2006 |
|  F-3                                                                                                     |  Unaudited                Statements of Cash Flows for the six months ended                September 30, 2006 and 2005 and period from April 2, 2004 (Inception)                through September 30, 2006 |
|  F-4                                                                                                     |  Notes                to Unaudited Financial                Statements; |

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**AMERASIA        KHAN ENTERPRISES LTD.**

**(A        DEVELOPMENT STAGE COMPANY)**

**BALANCE        SHEETS**

|                                                                                                                                   | September                  30,                  2006 |      | March                  31, 2006 |
|----------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------|-----------|---------------------------------|
|                                                                                                                                   | (unaudited)                                          |      |                            |
| ASSETS                                                                                                                                 |                                                 |      |                            |
| Current                  assets                                                                                                        |                                                 |      |                            |   |   |
| Cash                                                                                                                                   | $                                                    | 35,828    |                            | $ | 67,460 |
| Accounts                  receivable, net                                                                                              |                                                 | 3,656     |                            |   | - |
| Expense                  advances-related party                                                                                        |                                                 | 2,771     |                            |   | 2,771 |
| Prepaid                  expenses and deposits                                                                                         |                                                 | -         |                            |   | 35,000 |
| Total                  current assets                                                                                                  |                                                 | 42,255    |                            |   | 105,231 |
| Rental                  assets, net                                                                                                    |                                                 | 44,121    |                            |   | 19,415 |
|                                                                                                                                   |                                                 |      |                            |   |   |
| TOTAL                  ASSETS                                                                                                          | $                                                    | 86,376    |                            | $ | 124,646 |
|                                                                                                                                   |                                                 |      |                            |   |   |
| LIABILITIES                  AND STOCKHOLDERS’ DEFICIT                                                                           |                                                 |      |                            |   |   |
| Current                  liabilities                                                                                                   |                                                 |      |                            |   |   |
| Accounts                  payable and accrued expenses                                                                                 | $                                                    | 6,773     |                            | $ | 8,751 |
| Stockholder                  advances                                                                                                  |                                                 | 117,400   |                            |   | 117,400 |
| Total                  current liabilities                                                                                             |                                                 | 124,173   |                            |   | 126,151 |
|                                                                                                                                   |                                                 |      |                            |   |   |
| STOCKHOLDERS’                  DEFICIT:                                                                                          |                                                 |      |                            |   |   |
| Common                  stock, $.001 par value, 50,000,000 shares authorized,                  9,000,000 shares issued and outstanding |                                                 | 9,000     |                            |   | 9,000 |
| Additional                  paid in capital                                                                                            |                                                 | 169,753   |                            |   | 165,057 |
| Deficit                  accumulated during the development stage                                                                      |                                                 | (216,550) |                            |   | (175,562) |
| Total                  Stockholders’ Deficit                                                                                     |                                                 | (37,797)  |                            |   | (1,505) |
|                                                                                                                                   |                                                 |      |                            |   |   |
| TOTAL                  LIABILITIES AND STOCKHOLDERS’ DEFICIT                                                                     | $                                                    | 86,376    |                            | $ | 124,646 |

*See        accompanying notes to financial statements.*

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**AMERASIA        KHAN ENTERPRISES LTD.**

**(A        DEVELOPMENT STAGE COMPANY)**

**STATEMENTS        OF OPERATIONS**

**Three        and Six Months Ended September 30, 2006 and 2005**

**and        Period From April 2, 2004 (Inception) through September 30,        2006**

**(Unaudited**
**)**

|                                                  | Three                  months                  endedSeptember                  30, 2006 |      | Three                  months endedSeptember                  30, 2005 |   |  Six                  months endedSeptember                  30, 2006 |   | Six                  months endedSeptember                  30, 2005 |      | Inception                  throughSeptember                  30, 2006 |
|-------------------------------------------------------|-----------------------------------------------------------------------------------------|-----------|------------------------------------------------------------------------|--------|----------------------------------------------------------------------------|--------|----------------------------------------------------------------------|-----------|-----------------------------------------------------------------------|
|                                                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |
| Rental                  revenue                       | $                                                                                       | ---       |                                                                   | $      | ---                                                                        |   | $                                                                    | 7,773     |                                                                  | $ | 7,548 |   | $ | 15,321 |
|                                                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Gown                  rental expense                  |                                                                                    | -         |                                                                   |   | -                                                                          |   |                                                                 | (4,118)   |                                                                  |   | (8,416) |   |   | (12,534) |
| Depreciation                                          |                                                                                    | (5,147)   |                                                                   |   | (2,229)                                                                    |   |                                                                 | (10,294)  |                                                                  |   | (2,972) |   |   | (17,645) |
|                                                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Gross                  margin                         |                                                                                    | (5,147)   |                                                                   |   | (2,229)                                                                    |   |                                                                 | (6,639)   |                                                                  |   | (3,840) |   |   | (14,858) |
|                                                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| General                  and administrative expenses: |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Professional                  fees                    |                                                                                    | 7,440     |                                                                   |   | 3,200                                                                      |   |                                                                 | 27,643    |                                                                  |   | 14,200 |   |   | 68,363 |
| Compensation                                          |                                                                                    | -         |                                                                   |   | -                                                                          |   |                                                                 | -         |                                                                  |   | 67,600 |   |   | 92,600 |
| Other                  general and administrative     |                                                                                    | 1,029     |                                                                   |   | -                                                                          |   |                                                                 | 2,010     |                                                                  |   | 5,286 |   |   | 24,576 |
| Total                  General and Administrative     |                                                                                    | 8,469     |                                                                   |   | 3,200                                                                      |   |                                                                 | 29,653    |                                                                  |   | 87,086 |   |   | 185,539 |
|                                                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Operating                  loss                       |                                                                                    | (13,616)  |                                                                   |   | (5,429)                                                                    |   |                                                                 | (36,292)  |                                                                  |   | (90,926) |   |   | (200,397) |
| Interest                  expense                     |                                                                                    | (2,348)   |                                                                   |   | (2,348)                                                                    |   |                                                                 | (4,696)   |                                                                  |   | (4,696) |   |   | (16,153) |
|                                                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Net                  loss                             | $                                                                                       | (15,964)  |                                                                   | $      | (7,7770)                                                                   |   | $                                                                    | (40,988)  |                                                                  | $ | (95,622) |   | $ | (216,550) |
|                                                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Net                  loss per share:                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Basic                  and diluted                    | $                                                                                       | (0.00)    |                                                                   | $      | (0.01)                                                                     |   | $                                                                    | (0.01)    |                                                                  | $ | (0.01) |   |   |   |
|                                                  |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Weighted                  average shares outstanding: |                                                                                    |      |                                                                   |   |                                                                       |   |                                                                 |      |                                                                  |   |   |   |   |   |
| Basic                  and diluted                    |                                                                                    | 9,000,000 |                                                                   |   | 9,000,000                                                                  |   |                                                                 | 9,000,000 |                                                                  |   | 6,866,666 |   |   |   |

*See        accompanying notes to financial statements.*

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**AMERASIA        KHAN ENTERPRISES LTD.**

**(A        DEVELOPMENT STAGE COMPANY)**

**STATEMENTS        OF CASH FLOWS**

**Six        Months Ended September 30, 2006 and 2005**

**and        Period From April 2, 2004 (Inception) through September 30,        2006**

**(Unaudited)**

|                                                                                                      | Six                  months endedSeptember                  30, 2006 |     | Six                  months endedSeptember                  30, 2005 |   | Inception                  throughSeptember                  30, 2006 |
|-----------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------|----------|----------------------------------------------------------------------|--------|-----------------------------------------------------------------------|
|                                                                                                      |                                                                 |     |                                                                 |   |                                                                  |
| CASH                  FLOWS FROM OPERATING ACTIVITIES                                                     |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| Net                  loss                                                                                 | $                                                                    | (40,988) |                                                                 | $      | (95,622)                                                              |   | $ | (216,550) |
| Adjustments                  to reconcile net loss to cash                  used in operating activities: |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| Depreciation                                                                                              |                                                                 | 10,294   |                                                                 |   | 2,972                                                                 |   |   | 17,645 |
| Non-cash                  management compensation                                                         |                                                                 | -        |                                                                 |   | 57                  ,600                                              |   |   | 57,600 |
| Imputed                  interest on stockholder advances                                                 |                                                                 | 4,696    |                                                                 |   | 4,696                                                                 |   |   | 16,153 |
| Change                  in non-cash working capital items                                                 |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| Accounts                  receivable                                                                      |                                                                 | (3,656)  |                                                                 |   | -                                                                     |   |   | (3,656) |
| Expense                  advances-related party                                                           |                                                                 | -        |                                                                 |   |                                                                  |   |   | (2,771) |
| Prepaid                  expenses and deposits                                                            |                                                                 | -        |                                                                 |   | (10,000)                                                              |   |   | - |
| Accounts                  payable                                                                         |                                                                 | (1,978)  |                                                                 |   | (636)                                                                 |   |   | 9,173 |
| CASH                  FLOWS USED IN OPERATING ACTIVITIES                                                  |                                                                 | (31,632) |                                                                 |   | (40,990)                                                              |   |   | (122,406) |
| CASH                  FLOWS FROM INVESTING ACTIVIES                                                       |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| Purchase                  of rental assets                                                                |                                                                 | -        |                                                                 |   | (3,500)                                                               |   |   | (61,766) |
| CASH                  FLOWS FROM FINANCING ACTIVITIES                                                     |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| Proceeds                  from sale of common stock                                                       |                                                                 | -        |                                                                 |   | 100,000                                                               |   |   | 102,600 |
| Stockholder                  advances                                                                     |                                                                 | -        |                                                                 |   | -                                                                     |   |   | 117,400 |
| CASH                  FLOWS PROVIDED BY FINANCING ACTIVITIES                                              |                                                                 | -        |                                                                 |   | 100,000                                                               |   |   | 220,000 |
|                                                                                                      |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| NET                  INCREASE (DECREASE) IN CASH                                                          |                                                                 | (31,632) |                                                                 |   | 55,510                                                                |   |   | 35,828 |
| Cash,                  beginning of period                                                                |                                                                 | 67,460   |                                                                 |   | 60,062                                                                |   |   | - |
| Cash,                  end of period                                                                      | $                                                                    | 35,828   |                                                                 | $      | 115,572                                                               |   | $ | 35,828 |
|                                                                                                      |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| SUPPLEMENTAL                  CASH FLOW INFORMATION                                                       |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| Interest                  paid                                                                            | $                                                                    | -        |                                                                 | $      | -                                                                     |   | $ | - |
| Income                  taxes paid                                                                        | $                                                                    | -        |                                                                 | $      | -                                                                     |   | $ | - |
|                                                                                                      |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| NON                  CASH TRANSACTIONS:                                                                   |                                                                 |     |                                                                 |   |                                                                  |   |   |   |
| Issuance                  of stock for debt                                                               | $                                                                    | -        |                                                                 | $      | 2,400                                                                 |   | $ | 2,400 |
| Issuance                  of stock for compensation                                                       | $                                                                    | -        |                                                                 | $      | 57,600                                                                |   | $ | 57,600 |
| Application                  of deposit to fixed assets                                                   | $                                                                    | 35,000   |                                                                 | $      | -                                                                     |   | $ | - |

*See        accompanying notes to financial statements.*

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Table              of Contents

**AMERASIA        KHAN ENTERPRISES LTD.**

**(A        DEVELOPMENT STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS**

|                                                      | **September, ****2006** |     | **March                  31****2006** |
|-----------------------------------------------------------|------------------------------|----------|---------------------------------------|
|                                                      |                         |     |                                  |
|  Rental                assets                        | $                            | 61,766   |                                  | $ | 26,766 |
|  Accumulated                depreciation   |                         | (17,645) |                                  |   | (7,351) |
|                                                      | $                            | 44,121   |                                  | $ | 19,415 |

** **

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Table            of Contents

**AMERASIA        KHAN ENTERPRISES LTD.**

**(A        DEVELOPMENT STAGE COMPANY)**

**NOTES        TO THE FINANCIAL STATEMENTS**

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Table          of Contents

**Item      2.     Plan of      Operation**

**Forward-Looking      Statements**

**Business      Overview**

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Table          of Contents

| ·   | Water,                Oil and Liquid Repellency |
|--------------------|-------------------------------------------------|

| ·   | Wrinkle                Resistance |
|--------------------|-----------------------------------|

| ·   | Anti-Bacteria |
|--------------------|---------------|

| ·   | Anti-static |
|--------------------|-------------|

| ·   | Odor                Reduction |
|--------------------|-------------------------------|

| ·   | Maintain                Air Permeability |
|--------------------|------------------------------------------|

**Our      Marketing Strategy For The Next 12 Months**

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Table          of Contents

| ·   | Tom                Wensel, Huntington Photography, Huntington,                Texas |
|--------------------|-------------------------------------------------------------------------------------|

| ·   | Stan                Fejnas, Josephs Photography, New Jersey and                Missouri |
|--------------------|-----------------------------------------------------------------------------------------|

| ·   | Hal                Wagner, Wagner Photography, St. Louis,                Missouri |
|--------------------|-----------------------------------------------------------------------------------|

| ·   | Elizabeth                Hockmeyer, Hockmeyer Studios, Boston,                Massachusetts |
|--------------------|---------------------------------------------------------------------------------------------|

| ·   | Lance                Kimura, House of Photography, Honolulu,                Hawaii |
|--------------------|------------------------------------------------------------------------------------|

| ·   | Brad                Kramer, Grads Photography, Phoenix,                Arizona |
|--------------------|--------------------------------------------------------------------------------|

| ·   | Donnie                Rubenack, Donette Studios, Bellingham,                Washington |
|--------------------|----------------------------------------------------------------------------------------|

| ·   | John                Stickney, Boyd Anderson Studios, Santee,                California |
|--------------------|----------------------------------------------------------------------------------------|

| ·   | Branding                of product to directly identify and build loyalty among distributors                and                end users of the product; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Marketing                collateral development for use by customers and other parties acting                as                distributors of regalia; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Affiliation                with Canadian and US professional photography and digital associations                to                provide a medium for identifying potential                distributors; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Participation                in trade shows related to the regalia, photography and digital imaging                industries to provide a venue for identifying potential distributors.                Research will be conducted to identify trade shows where the target                markets participate directly; and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Anticipated                creation of a website that will promote regalia products, solicit                e-commerce, supervise supply chain management and manage distributor                relations. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table          of Contents

**Financing,      Liquidity and Capital Resources**

**Employees**

**Research      and Development**

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Table          of Contents

**Results      of Operations for the three and six months ended September 30, 2006 and      2005**

**Off      Balance Sheet Arrangements **

**Going      Concern**

**Critical      Accounting Policies**

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**Recently      Issued Accounting Pronouncements**

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**Item      3.     Controls and Procedures**

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Table            of Contents

**PART      II - OTHER INFORMATION**

**Item      1.     Legal      Proceedings**

**Item      2.     Unregistered Sales of Equity      Securities and Use of Proceeds**

**Item      3.     Defaults upon Senior      Securities**

**Item      4.     Submission of Matters to a Vote of      Security Holders**

**Item      5.     Other      Information**

**Item      6.      Exhibits**

| **Exhibit****Number** | **Description                of Exhibit**                                                                                                                                                                                                                |
|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1                  | Certification                of Chief Executive Officer pursuant to 18                U.S.C. Section 1350, as adopted pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002                                                           |
| 31.2                  | Certification                of Chief Financial Officer pursuant to 18                U.S.C. Section 1350, as adopted pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002                                                           |
| 32.1                  | Certification                of Chief Executive Officer and Chief                Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted                pursuant                to Section 906 of the Sarbanes-Oxley Act of                2002 |

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**SIGNATURES**

|   | **Amerasia                Khan Enterprises Ltd.**                                                                                                                                                                                                                                                             |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                          |
| Date:  | November                14, 2006                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                          |
|   | By:       /s/                Johnny Lee                 Johnny                LeeTitle:**    Chief                Executive Officer and                Director** |