UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


Washington,
      DC 20549





FORM
      10-Q





x
            Quarterly
                Report pursuant to Section 13 or 15(d) of the Securities Exchange
                Act of
                1934For
                the quarterly period ended April 30,
                2008







o
            Transition
                Report pursuant to 13 or 15(d) of the Securities Exchange Act of
                1934For
                the transition period from_______________________to_______________________





Commission
      File Number  000-33391





HYBRID
      TECHNOLOGIES, INC.


(Exact
      name of Small Business Issuer as specified in its charter)





Nevada
            
            88-0490890(State
                or other jurisdiction of
            
            (IRS
                Employer Identification No.)incorporation
                or organization)4894
                Lone Mountain #168, Las Vegas NV
            
            89130(Address
                of principal executive offices)
            
            (Postal
                or Zip Code)




Issuer's
      telephone number, including area code: 818-780-2403







Former
      name, former address and former fiscal year, if changed since last
      report)










Check
      whether the issuer (1) filed all reports required to be filed by Section 13
      or
      15(d) of the Exchange Act during the past 12 months (or for such shorter period
      that the registrant was required to file such reports), and (2) has been subject
      to such filing requirements for the past 90 days. x Yes o
      No





Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act. Yes o No x





Indicate
      by check mark whether the registrant is a large accelerated filer, an
      accelerated filer, or a smaller reporting company. (Check One):





Large
                accelerated filer o
            Accelerated
                filer oNon-accelerated
                filer o
            Smaller
                reporting company x(Do
                not check if a smaller reporting company)




APPLICABLE
      ONLY TO CORPORATE ISSUERS




The
      number of shares outstanding the issuer's common stock, $.001 par value, was
      23,347,257 as of June 3, 2008.







HYBRID
      TECHNOLOGIES, INC.





TABLE
      OF
      CONTENTS




Page
                No.PART
                I. FINANCIAL INFORMATION
            
            1ITEM
                1 - Financial Statements
            
            1ITEM
                2 - Management's Discussion and Analysis of Financial Condition and
                Results of Operations.
            
            12ITEM
                3 - Quantitative and Qualitative Disclosures about Market
                Risk
            
            18ITEM
                4T- Controls and Procedures.
            
            18PART
                II. OTHER INFORMATION
            
            18ITEM
                1 - Legal Proceedings
            
            18ITEM
                6 - Exhibits
            
            19EXHIBIT
                31 - Certification pursuant to Section 302 of the Sarbanes-Oxley Act
                of 2002EXHIBIT
                32 - Certification pursuant to Section 906 of the Sarbanes-Oxley Act
                of 2002










PART
      I.  FINANCIAL
      INFORMATION




**HYBRID
      TECHNOLOGIES, INC.**




**I
      N D E X**





Page
                No.ITEM
                I - Unaudited Consolidated Financial StatementsConsolidated
                Balance Sheets as of April 30, 2008 (Unaudited) and July 31, 2007
                (Audited)
            
            2Consolidated
                Statements of Operations for the Three and Nine Months Ended April
                30,
                2008 and 2007 and from Inception (April 12, 2000) to April 30, 2008
                (Unaudited)
            
            3Consolidated
                Statement of Stockholders Equity (Deficit) (Unaudited)
            
            4Consolidated
                Statements of Cash Flows for the Three and Nine Months Ended April
                30,
                2008 and 2007 and from Inception (April 12, 2000) to April 30, 2008
                (Unaudited)
            
            5Notes
                to Unaudited Consolidated Financial Statements
            
            6-11




1





**HYBRID
      TECHNOLOGIES, INC.**


**A
      Development Stage Company**





**Consolidated
      Balance Sheets**





**(unaudited)****April 30,**
            
            July 31,**2008**
            
            2007**ASSETS**Current
                assets:Cash
            
            **$**
            **15,612**
            
            $
            3,775Marketable
                securities - restricted
            
            
            **-**
            
            
            41,224Accounts
                receivable, net of allowance for doubtful accounts of $0 at April
                30, 2008
                and $139,003, at July 31, 2007
            
            
            **75,015**
            
            
            1,994Inventories
            
            
            **204,930**
            
            
            425,775Other
                current assets
            
            
            **10**
            
            
            60,233Due
                from related parties
            
            
            **142,467**
            
            
            16,300***Total
                current assets***
            
            
            **438,034**
            
            
            549,301Property
                and equipment, net
            
            
            **2,023,051**
            
            
            2,120,343Other
                long term assets:Other
                assets
            
            
            **56,661**
            
            
            51,600Deferred
                patent costs
            
            
            **21,987**
            
            
            **-***Total
                other long term assets*
            
            
            **78,648**
            
            
            51,600**$**
            **2,539,733**
            
            $
            2,721,244**LIABILITIES
                AND STOCKHOLDERS' EQUITY (DEFICIENCY)**Current
                liabilities:Current
                portion of long-term debt
            
            **$**
            **30,418**
            
            $
            241,460Accounts
                payable and accrued expenses
            
            
            **326,953**
            
            
            481,583Customer
                deposit
            
            
            **65,800**
            
            
            **-**Deferred
                revenue
            
            
            -
            
            
            2,990***Total
                current liabilities***
            
            
            **423,171**
            
            
            726,033Long-term
                debt - less current portion above
            
            
            **4,364,361**
            
            
            803,258Commitments
                and contingencies
            
            
            **-**
            
            
            -Minority
                interest
            
            
            **-**
            
            
            2,377Stockholders'
                equity (deficiency):Preferred
                stock, $.001 par value, 5,000,000 shares authorized, no shares issued
            
            
            **-**
            
            
            -Common
                stock, $.001 par value, 35,714,285 authorized; 15,847,257 shares
                issued
                and outstanding at April 30, 2008 39,500,511 shares issued and outstanding
                at July 31, 2007
            
            
            **5,847**
            
            
            39,501Additional
                paid in capital
            
            
            **47,808,009**
            
            
            46,569,703Deficit
                accumulated during the development stage
            
            
            **(50,061,655**
            **)**
            
            (45,411,768
            )Cumulative
                other comprehensive (loss)
            
            
            **-**
            
            
            (7,860
            )*Total
                stockholders' equity (deficiency)*
            
            
            **(2,247,799**
            **)**
            
            1,189,576**$**
            **2,539,733**
            
            $
            2,721,244





**SEE
      NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**


2





**HYBRID
      TECHNOLOGIES, INC.**


**A
      Development Stage Company**





**Consolidated
      Statements of Operations**


**(UNAUDITED)**





**NINE MONTHS ENDED**
            
            **THREE MONTHS ENDED**
            
            INCEPTION**APRIL 30,**
            
            **APRIL 30,**
            
            THROUGH****
            
            **2008**
            
            2007
            
            **2008**
            
            2007
            
            April
                30, 2008Sales
            
            **$**
            **809,006**
            
            $
            985,316
            
            **$**
            **169,981**
            
            $
            384,023
            
            $
            2,578,259Cost
                of sales
            
            
            **672,650**
            
            
            1,014,609
            
            
            **59,803**
            
            
            396,444
            
            
            2,821,946Gross
                Profit (loss)
            
            
            **136,356**
            
            
            (29,293
            )
            
            **110,178**
            
            
            (12,421
            )
            
            (243,687
            )Costs
                and expenses:General
                and administrative
            
            
            **2,944,590**
            
            
            11,563,252
            
            
            **970,536**
            
            
            3,929,071
            
            
            41,122,522Compensatory
                element of stock
            
            
            **804,652**
            
            
            -
            
            
            **804,652**
            
            
            -
            
            
            804,652Research
                and development
            
            
            **1,058,180**
            
            
            793,226
            
            
            **657,350**
            
            
            461,100
            
            
            7,027,796**4,807,422**
            
            
            12,356,478
            
            
            **2,432,538**
            
            
            4,390,171
            
            
            48,954,970Loss
                from operations
            
            
            **(4,671,066**
            **)**
            
            (12,385,771
            )
            
            **(2,322,360**
            **)**
            
            (4,402,592
            )
            
            (49,198,657
            )Other
                income (expense):Interest
                expense
            
            
            **(142,349**
            **)**
            
            (63,901
            )
            
            **(97,264**
            **)**
            
            (22,747
            )
            
            (883,786
            )Interest
                income
            
            
            **594**
            
            
            1,537
            
            
            **118**
            
            
            305
            
            
            21,455(Gain)
                loss from sale of assets
            
            
            **(1,985**
            **)**
            
            -
            
            
            **(5,888**
            **)**
            
            -
            
            
            (1,985
            )Loss
                from sale of other assets
            
            
            **-**
            
            
            (314,381
            )
            
            **-**
            
            
            (314,381
            )
            
            (316,366
            )Other
                income (expenses)
            
            
            **413**
            
            
            1,834
            
            
            **(14,408**
            **)**
            
            160
            
            
            891,394Loss
                from sale of subsidiaries
            
            
            **162,129**
            
            
            -
            
            
            **162,129**
            
            
            -
            
            
            -Net
                loss before discontinued operations and minority interest
            
            
            **(4,652,264**
            **)**
            
            (12,760,682
            )
            
            **(2,277,673**
            **)**
            
            (4,739,255
            )
            
            (49,487,945
            )Loss
                from discontinued operations
            
            
            **-**
            
            
            -
            
            
            **-**
            
            
            -
            
            
            (757,024
            )**(4,652,264**
            **)**
            
            (12,760,682
            )
            
            **(2,277,673**
            **)**
            
            (4,739,255
            )
            
            (50,244,969
            )Minority
                interest in net loss
            
            
            **2,377**
            
            
            -
            
            
            **-**
            
            
            -
            
            
            19,200Net
                loss
            
            
            **(4,649,887**
            **)**
            
            (12,760,682
            )
            
            **(2,277,673**
            **)**
            
            (4,739,255
            )
            
            (50,225,769
            )Other
                comprehensive income – Foreign currency translation
            
            
            **5,579**
            
            
            496
            
            
            **7,270**
            
            
            496
            
            
            (2,281
            )Net
                comprehensive loss
            
            **$**
            **(4,644,308**
            **)**
            $
            (12,760,186
            )
            **$**
            **(2,270,403**
            **)**
            $
            (4,738,759
            )
            $
            (50,228,050
            )Net
                loss per share - basic and diluted
            
            **$**
            **(0.30**
            **)**
            $
            (0.47
            )
            **$**
            **(0.14**
            **)**
            $
            (0.15
            )Weighted
                number of shares - basic and diluted
            
            
            **15,666,348**
            
            
            27,268,268
            
            
            **15,713,385**
            
            
            31,792,620




**SEE
      NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**


3


**HYBRID
      TECHNOLOGIES, INC.**


**A
      Development Stage Company**





**Consolidated
      Statement of Stockholder's Equity (Deficiency)**


**(Unaudited)**





DeficitAccumulated
            
            CumulativeAdditional
            
            During the
            
            OtherCommon stock
            
            
            
            Paid-in
            
            Development
            
            ComprehensiveShares
            
            Amount
            
            Capital
            
            Stage
            
            Income (loss)
            
            Total**Balance July
                31, 2006**
            
            
            25,895,130
            
            $
            25,895
            
            $
            37,598,409
            
            $
            (34,792,011
            )
            $
            -
            
            $
            2,832,293Stock
                issuancesValue
                of stock options issued
            
            
            
            
            
            
            
            
            2,103,600
            
            
            
            
            
            
            
            
            2,103,600Exercise
                of options (valued at $3.55 per share)
            
            
            1,206,000
            
            
            1,206
            
            
            4,280,094
            
            
            -
            
            
            -
            
            
            4,281,300Value
                of stock issued for services
            
            
            3,100,000
            
            
            3,100
            
            
            2,596,900
            
            
            -
            
            
            -
            
            
            2,600,000Stock
                dividends
            
            
            9,299,381
            
            
            9,300
            
            
            (9,300
            )
            
            -
            
            
            -
            
            
            -Net
                loss for the year
            
            
            -
            
            
            -
            
            
            -
            
            
            (10,619,757
            )
            
            -
            
            
            (10,619,757
            )Foreign
                currency transactions
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            (7,860
            )
            
            (7,860
            )**Balance
                July 31, 2007**
            
            
            39,500,511
            
            
            39,501
            
            
            46,569,703
            
            
            (45,411,768
            )
            
            (7,860
            )
            
            1,189,576Stock
                issuancesValue
                of stock options issued
            
            
            
            
            
            
            
            
            -
            
            
            
            
            
            
            
            
            -Exercise
                of options (valued at $2.00 per share)
            
            
            200,000
            
            
            204
            
            
            399,796
            
            
            -
            
            
            -
            
            
            400,000Common
                stock issued as collateral pre-reverse stock split
            
            
            10,000,000
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -Reverse
                stock split
            
            
            (42,424,681
            )
            
            (33,858
            )
            
            33,858
            
            
            -
            
            
            -Common
                stock issued as collateral post-reverse stock split
            
            
            8,571,427
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            -Stock
                based compensation expense
            
            
            
            
            
            
            
            
            804,652
            
            
            
            
            
            
            
            
            804,652Net
                loss for the period
            
            
            -
            
            
            -
            
            
            -
            
            
            (4,649,887
            )
            
            -
            
            
            (4,649,887
            )Foreign
                currency transactions
            
            
            -
            
            
            -
            
            
            -
            
            
            -
            
            
            7,860
            
            
            7,860**Balance
                April 30, 2008**
            
            
            15,847,257
            
            $
            5,847
            
            $
            47,808,009
            
            $
            (50,061,655
            )
            $
            -
            
            $
            (2,247,799
            )




**SEE
      NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**




4







**HYBRID
      TECHNOLOGIES, INC.**


**A
      Development Stage Company**





**Consolidated
      Statements of Cash Flows**


**(UNAUDITED)**


Inception**NINE MONTHS ENDED**
              
              through**APRIL 30,**
              
              April 30,**2008**
              
              2007
              
              2008Cash
                  provided (used in) Operating Activities:Net
                  (loss) for the period
              
              **$**
              **(4,649,887**
              **)**
              $
              (12,760,682
              )
              $
              (50,061,655
              )Adjustments
                  to reconcile net (loss) to cashDepreciation
                  & Amortization
              
              
              **90,674**
              
              
              111,504
              
              
              807,233Bad
                  debt expense
              
              
              **9,678**
              
              
              -
              
              
              186,582Gain/loss
                  of sale of other assets
              
              
              **-**
              
              
              314,381
              
              
              314,381Minority
                  interest in loss
              
              
              **(2,377**
              **)**
              
              -
              
              
              (19,200
              )Stock-based
                  compensation
              
              
              **804,652**
              
              
              8,059,600
              
              
              24,550,293(Increase)
                  decrease in marketable securities - restricted
              
              
              **41,224**
              
              
              -
              
              
              41,224(Increase)
                  in accounts receivable
              
              
              **(82,699**
              **)**
              
              7,816
              
              
              (261,597
              )(Increase)
                  decrease in inventories
              
              
              **220,845**
              
              
              (78,879
              )
              
              (204,930
              )(Increase)
                  decrease in prepaid expenses and other assets
              
              
              **60,223**
              
              
              (7,774
              )
              
              (10
              )(Gain)
                  on sale of property and equipment
              
              
              **(1,918**
              **)**
              
              -
              
              
              (1,918
              )(Increase)
                  decrease in other assets
              
              
              **(5,061**
              **)**
              
              -
              
              
              (55,061
              )Increase
                  (decrease) in accounts payable and accrued expenses
              
              
              **(154,630**
              **)**
              
              162,236
              
              
              335,158Increase
                  in customer deposits
              
              
              **65,800**
              
              
              -
              
              
              65,800(Increase)
                  decrease in deferred revenue
              
              
              **(2,990**
              **)**
              
              2,990
              
              
              -(Gain)
                  on sale of subsidiary
              
              
              **(162,129**
              **)**
              
              -
              
              
              (162,129
              )Investment
                  in subsidiaries
              
              
              **(52,871**
              **)**
              
              -
              
              
              (52,871
              )Write
                  off of mineral property
              
              
              **-**
              
              
              -
              
              
              5,150Loss
                  from discontinued operations
              
              
              **-**
              
              
              -
              
              
              757,024***Cash
                  used in operating activities***
              
              
              **(3,821,466**
              **)**
              
              (4,188,808
              )
              
              (23,756,526
              )Cash
                  provided (used in) Investing Activities:Increase
                  in other assets
              
              
              **-**
              
              
              (5,473
              )
              
              (1,493,577
              )Proceeds
                  from sale of other assets
              
              
              **-**
              
              
              1,133,372
              
              
              1,136,372Increase
                  in restricted cash
              
              
              **-**
              
              
              -
              
              
              (40,215
              )Purchase
                  of mineral property
              
              
              **-**
              
              
              -
              
              
              (5,150
              )Proceeds
                  from sale of subsidiary
              
              
              **215,000**
              
              
              -
              
              
              215,000(Sale)
                  of property and equipment
              
              
              **(20,469**
              **)**
              
              (155,766
              )
              
              (1,052,551
              )Proceeds
                  from sale of property and equipment
              
              
              **29,005**
              
              
              -
              
              
              29,005(Increase)
                  in deferred patent costs
              
              
              **(21,987**
              **)**
              
              -
              
              
              (21,987
              )***Cash
                  used in investing activities***
              
              
              **201,549**
              
              
              972,133
              
              
              (1,233,103
              )Cash
                  provided (used in) by Financing Activities:Sale
                  of minority interest in subsidiaries
              
              
              **-**
              
              
              -
              
              
              19,200Proceeds
                  from the exercise of stock options
              
              
              **400,000**
              
              
              2,271,999
              
              
              15,692,895Collection
                  of stock receivable
              
              
              **-**
              
              
              -
              
              
              50,000Proceeds
                  from the issuance of debt
              
              
              **4,421,662**
              
              
              -
              
              
              7,341,662Advances
                  from related parties
              
              
              **3,539,995**
              
              
              4,424,678
              
              
              12,382,226Payments
                  of related party advances
              
              
              **(3,666,162**
              **)**
              
              (3,919,795
              )
              
              (9,333,159
              )Payments
                  of debt
              
              
              **(1,071,601**
              **)**
              
              (147,601
              )
              
              (1,406,883
              )Proceeds
                  from the issuance of common stock
              
              
              **-**
              
              
              -
              
              
              259,300***Cash
                  provided by financing activities***
              
              
              **3,623,894**
              
              
              2,629,281
              
              
              25,005,241Effect
                  of exchange rate changes on cash and cash equivalents
              
              
              **7,860**
              
              
              496
              
              
              -Net
                  increase (decrease) in cash
              
              
              **11,837**
              
              
              (586,898
              )
              
              15,612Cash
                  at beginning of period
              
              
              **3,775**
              
              
              519,181
              
              
              -Cash
                  at end of period
              
              **$**
              **15,612**
              
              $
              (67,717
              )
              $
              15,612Supplemental
                  information:Cash
                  paid during the year for:Interest
                  paid
              
              **$**
              **45,006**
              
              $
              63,800Income
                  taxes paid
              
              **$**
              **-**
              
              $
              -Non
                  - cash financing activities:Fixed
                  assets acquired by the issuance of debt
              
              **$**
              **-**
              
              $
              -
              
              $
              1,300,000Shares
                  issued for related party advances
              
              **$**
              **-**
              
              $
              -
              
              $
              3,000,000
  **SEE
        NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**


5


HYBRID
        TECHNOLOGIES, INC.
 A
        Development Stage Company
  NOTES
        TO
        UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS




**Note
      1. Financial statement presentation**





The
      financial statements have been prepared in accordance with Securities Exchange
      Commission requirements for interim financial statements. Therefore, they do
      not
      include all information and footnotes required by accounting principles
      generally accepted in the United States for complete financial statements.
      These
      financial statements should be read in conjunction with the financial statements
      and notes thereto contained in the Company's Annual Report on Form 10-KSB for
      the year ended July 31, 2007 as filed with the Securities Exchange
      Commission.





The
      results of operations for the interim periods shown in this report are not
      necessarily indicative of results to be expected for the full year. In the
      opinion of management, the information contained herein reflects all adjustments
      necessary to make the results of operations for the interim period a fair
      statement of such operations. All such adjustments are of a normal recurring
      nature.





*History
      and Nature of Business*





On
      April
      16, 2008 the Company sold their controlling interest of approximately 69% of
      the
      outstanding common stock in Zingo, Inc. (now Superlattice Power, Inc., “SPI”),
      which provided telecommunication services to business and residential customers
      utilizing VOIP technology, for $215,000. In connection with the sale of the
      Company’s controlling interest in SPI, the Company recognized a loss of
      $162,129.





Effective
      April 15, 2008, the Company entered into a license agreement with Superlattice
      Power, Inc. (formerly a subsidiary, Zingo, Inc.) providing for their license
      to
      SPI of their patent applications and technologies for rechargeable lithium
      ion
      batteries for hybrid vehicles and other applications (“licensed products”).
      Under the license agreement, the Company has the right to purchase their
      requirements of lithium ion batteries from SPI, and their requirements of
      lithium ion batteries shall be supplied by SPI in preference to, and on a
      priority basis as compared with, supply and delivery arrangements in effect
      for
      other customers of SPI. The Company’s cost for lithium ion batteries purchased
      from SPI shall be SPI’s actual manufacturing costs for such batteries for the
      fiscal quarter of SPI in which the Company’s purchase takes place.





SPI
      has
      agreed to invest a minimum of $1,500,000 in each of the next two years in
      development of the technology for the Licensed Products.





*Reclassification*


Certain
      reclassifications have been made to the prior year’s financial statements to
      conform to the current year presentation. These reclassifications have had
      no
      impact on the net equity or income (loss) from operations.





*Deferred
      patent costs*


The
      Company capitalizes costs directly incurred in pursuing patent applications
      as
      deferred patent costs. When such applications result in an issued patent, the
      related costs are amortized over the remaining legal life of the patents, which
      is assumed to be 17 years, using the straight-line method. On a quarterly basis,
      the Company reviews the issued patents and pending patent applications and
      if
      the Company determines to abandon a patent application, or an issued patent
      no
      longer has economic value, the unamortized balance in deferred patent costs
      relating to that patent is immediately expensed. As of April 30, 2008 there
      were
      only pending patent applications.




6


HYBRID
        TECHNOLOGIES, INC.
 A
        Development Stage Company
  NOTES
        TO
        UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS




**Note
      1. Financial statement presentation - continued**





*Financial
      accounting standards*


In
      December 2007, the FASB issued SFAS No. 141(R), “Business
      Combinations.” This standard establishes principles and requirements for how an
      acquirer recognizes and measures in its financial statements the identifiable
      assets acquired, the liabilities assumed, any non-controlling interest in the
      acquired and the goodwill acquired. This statement also establishes disclosure
      requirements which will enable users to evaluate the nature and financial
      effects of the business combination. SFAS No. 141(R) is effective for
      us for acquisitions made after December 15, 2008. The Company is evaluating
      the
      impact of this standard and does not expect the adoption of SFAS 141(R) to
      have a material impact on its financial statements.





**Note
      2. Property and equipment**





Property
      and equipment consist of:


**(unaudited)****April 30, 2008**
              
              July 31, 2007Building
                  improvements
              
              $
              **1,272,352**
              
              $
              1,270,637Computer
                  equipment
              
              
              **-**
              
              
              22,286Furniture
                  and fixtures
              
              
              **142,425**
              
              
              115,944Office
                  equipment
              
              
              **-**
              
              
              92,539Machinery
                  and equipment
              
              
              **33,497**
              
              
              27,389Vehicles
              
              
              **60,979**
              
              
              73,203Software
                  costs
              
              
              **2,298**
              
              
              19,993Land
              
              
              **700,000**
              
              
              700,000**2,211,551**
              
              
              2,321,991Less
                  accumulated depreciation
              
              
              **(188,500**
              **)**
              
              (201,648
              )$
              **2,023,051**
              
              $
              2,120,343


Depreciation
      expense for the nine months ended April 30, 2008 and 2007 was $90,674 and
      $111,504, respectively.





**Note
      3. Going concern**





The
      Company's financial statements are prepared based on the going concern
      principle. That principle anticipates the realization of assets and payments
      of
      liabilities through the ordinary course of business. No adjustments have been
      made to reduce the value of any assets or record additional liabilities, if
      any,
      if the Company were to cease to exist. The Company has incurred significant
      operating losses since inception. These operating losses have been funded by
      the
      issuance of capital, loans and advances. There are no guarantees that the
      Company will continue to be able to raise the funds necessary. Additionally,
      the
      lack of capital may limit the Company's ability to establish a viable
      business.




7




HYBRID
        TECHNOLOGIES, INC.
 A
        Development Stage Company
  NOTES
        TO
        UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS


**Note
      4. Inventories**





Inventories
      consist of the following:


**(unaudited)****April 30, 2008**
              
              July 31, 2007Raw
                  materials and work in progress
              
              **$**
              **204,930**
              
              $
              323,170Finished
                  goods
              
              
              **-**
              
              
              102,605**$**
              **204,930**
              
              $
              425,775




**Note
      5. Long-term debt**





Long-term
      debt consists of:


**(unaudited)****April 30, 2008**
              
              July 31, 2007Note
                  payable to Richard Howard, paid in full in November 2007
              
              **$**
              **-**
              
              $
              1,044,71810.875%
                  note payable to Bayview Loan Servicing, LLC, payable in
                  monthly installments of approximately $11,388 including interest,
                  collateralized by real property due in full on or before December
                  2022
              
              
              **988,779**
              
              
              -10%
                  note payable to Wyndom Capital Investments, Inc., payable in October
                  2010
                  collateralized by 10,000,000 shares of the Company's common stock
              
              
              **3,406,000**
              
              
              -**4,394,779**
              
              
              1,044,718Less
                  current portion
              
              
              **(30,418**
              **)**
              
              (241,460
              )**$**
              **4,364,361**
              
              $
              803,258




Principal
      maturities on continuing operations are as follows as of April 30,
      2008:


2009
              
              $
              30,4182010
              
              
              3,439,8962011
              
              
              37,7712012
              
              
              42,0902013
              
              
              46,902Thereafter
              
              
              797,702$
              4,394,779




In
      October 2007, the Company entered into a loan agreement with Wyndom Capital
      Investments, Inc. The Company issued 10,000,000 pre-reverse stock split shares
      (computes to 1,428,573 post-reverse stock split shares) of outstanding stock
      as
      collateral for the above note and 8,571,427 post reverse stock split shares
      of
      outstanding stock as collateral to total 10,000,000 post reverse stock split
      shares. The agreement provides loans up to $4,000,000 with interest payable
      monthly at a rate of 10% per annum and due in full in October of 2010. Loans
      under the agreement are secured by the Company’s shares of common stock at a
      rate of two and one half shares to each dollar of principal. As of June 12,
      2008, the Company has borrowed $3,697,000 under the loan agreement. The Company
      paid interest to Wyndom of approximately $95,000 for the nine months ended
      April
      30, 2008 and $0 for the nine months ended April 30, 2007.




8




HYBRID
        TECHNOLOGIES, INC.
 A
        Development Stage Company
  NOTES
        TO
        UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
  **Note
        5. Long-term debt – continued**




As
      of the
      date of the report on the financial statements, Wyndom has not declared default
      and the shares are not deemed outstanding. If Wyndom were to declare default
      and
      take possession of the collateral, the number of shares is sufficient to make
      Wyndom the controlling shareholder.





In
      November 2007 the Company refinanced their loan for their building in North
      Carolina. The Company paid off the remainder of their old loan to Richard
      Howard, approximately $50,000 in cash and $1,000,000 with a new loan. The new
      loan with Bayview Loan Servicing, LLC is $1,000,000. The loan has an initial
      interest rate at 10.875% per annum with a monthly payment of $11,388, including
      interest. The loan is due in full on December 1, 2022. After the first 24
      months, the interest rate adjusts to Prime plus 4.875 %. Interest rate changes
      are limited to 2% increase or decrease in any annual adjustments. Interest
      paid
      to Richard Howard was waived for the nine months ended April 30, 2008 due to
      a
      full payment of the loan in advance; $63,200 of interest was paid for the nine
      months ended April 30, 2007. Interest paid for the nine months ended April
      30,
      2008 and 2007 for Bayview Loan Servicing, LLC is approximately $46,900 and
      $0,
      respectively.





**Note
      6. Stockholders’ Equity**





In
      December 2007, the Company’s shareholders approved a 1:7 reverse stock split.
      Except for the presentation of common shares authorized and issued on the
      consolidated balance sheet and shares presented in the consolidated statement
      of
      stockholders’ equity (deficit), all shares and par share information has been
      revised to give retroactive effect to the reverse stock split. Authorized shares
      were 50,000,000 and were increased to 250,000,000 on December 24, 2007 (computes
      to 35,714,285 post-reverse stock split authorized shares). Wyndom Capital
      Investments, Inc. currently holds 10,000,000 post reverse stock split shares
      as
      collateral for a loan of up to $4,000,000 as discussed in Note 5.





**Note
      7. Leases**





Effective
      April 16, 2008, SPI agreed to lease approximately 5,000 square feet of space
      in
      the Company’s North Carolina facility. The leased space will be suitable for,
      and utilized by SPI for, SPI’s developmental and manufacturing operations for
      licensed products pursuant to the license agreement. The leased space is leased
      on a month-to-month basis at a monthly rental of $2,500, the monthly rental
      to
      be escalated five (5%) percent annually. Although the lease was signed, the
      space is not available as of April 30, 2008. Therefore, through mutual
      agreement, no rent has been paid yet. Also, effective April 16, 2008, the
      Company also sold to SPI for the purchase price of $29,005, specified equipment
      and supplies related to the licensed agreement.




9




HYBRID
        TECHNOLOGIES, INC.
 A
        Development Stage Company
  NOTES
        TO
        UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS




**Note
      8. Segment information**





FASB
      Statement No. 131, *Disclosures about Segments of an Enterprise and Related
      Information* ,
      establishes standards for reporting information about operating segments.
      Operating segments are defined as components of an enterprise about which
      separate financial information is available that is evaluated regularly by
      management. The Company is organized by line of business and geographical area.
      The Company has two businesses, telecommunication services and the development
      and sale of electric powered vehicles.





The
      following is financial information relating to the Company’s business
      segments:


**(UNAUDITED)**
              
              (UNAUDITED)
              
              **(UNAUDITED)**
              
              (UNAUDITED)**NINE MONTHS**
              
              NINE MONTHS
              
              **THREE MONTHS**
              
              THREE MONTHS**ENDED**
              
              ENDED
              
              **ENDED**
              
              ENDED**April 30, 2008**
              
              April 30, 2007
              
              **April 30, 2008**
              
              April 30, 2007Revenues
                  from external customersTelecommunication
                  servicesUnited
                  States
              
              **$**
              **600,303**
              
              $
              936,566
              
              **$**
              **169,981**
              
              $
              335,273India
              
              
              **-**
              
              
              -
              
              
              **-**
              
              
              -Canada
              
              
              **-**
              
              
              -
              
              
              **-**
              
              
              -Electric
                  powered vehicle salesUnited
                  States
              
              
              **208,703**
              
              
              48,750
              
              
              **-**
              
              
              48,750Hong
                  Kong
              
              
              **-**
              
              
              -
              
              
              **-**
              
              
              -Total
                  revenues
              
              **$**
              **809,006**
              
              $
              985,316
              
              **$**
              **169,981**
              
              $
              384,023Loss
                  from operationsTelecommunication
                  servicesUnited
                  States
              
              **$**
              **(243,033**
              **)**
              $
              (1,158,306
              )
              **$**
              **(36,353**
              **)**
              $
              (237,180
              )India
              
              
              **(281,665**
              **)**
              
              (37,470
              )
              
              **(90,273**
              **)**
              
              (37,470
              )Canada
              
              
              **(18,430**
              **)**
              
              (43,613
              )
              
              **(6**
              **)**
              
              (43,613
              )Electric
                  powered vehicle salesUnited
                  States
              
              
              **(4,127,688**
              **)**
              
              (11,146,350
              )
              
              **(2,195,728**
              **)**
              
              (4,084,523
              )Hong
                  Kong
              
              
              **(250**
              **)**
              
              (32
              )
              
              **-**
              
              
              194Total
                  loss from operations
              
              **$**
              **(4,671,066**
              **)**
              $
              (12,385,771
              )
              **$**
              **(2,322,360**
              **)**
              $
              (4,402,592
              )


**Note
      9. Subsequent events**





The
      Company is in the process of forming an additional subsidiary in India to carry
      on certain support operations.





On
      May 5,
      2008, the Company entered into a loan agreement with Crystal Capital Ventures
      Inc. (Crystal Capital). The loan agreement provides for loans to the Company
      of
      up to $3,000,000, with a minimum initial loan of $500,000 the disbursement
      of
      which to us took place on May 19, 2008. The notes evidencing the installments
      of
      the loans bear interest payable monthly in arrears at the rate of 10% per annum;
      and mature and are due and payable three years from the date of issuance. The
      loans under the loan agreement are secured by shares of the Company’s common
      stock held by Crystal Capital.




10


HYBRID
        TECHNOLOGIES, INC.
 A
        Development Stage Company
  NOTES
        TO
        UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS




**Note
      9. Subsequent events - continued**





The
      Company is required to issue shares as collateral at the rate of two and one
      half shares of the Company’s common stock for each dollar principal amount of
      the loan advanced to the Company. After Crystal Capital has disbursed the first
      $1,000,000 principal amount of the Loan to the Company, Crystal Capital is
      entitled to receive a certificate for the balance of the 5,000,000 shares of
      common stock representing the collateral for the $2,000,000 balance of the
      funds
      that may be disbursed under the loan agreement. Following disbursement of the
      first $1,000,000 of funds pursuant to the loan agreement, on May 27, 2008,
      the
      Company issued 7,500,000 shares of common stock as collateral to Crystal
      Capital.





Crystal
      Capital disbursed loans in the aggregate amount of $1,000,000 under the loan
      agreement as of May 31, 2008.




11




Item
      2.  Management's
      Discussion and Analysis of Financial Condition and Results of
      Operations.





FORWARD
      LOOKING STATEMENTS





This
      quarterly report contains forward-looking statements that involve risks and
      uncertainties. We use words such as anticipate, believe, plan, expect, future,
      intend and similar expressions to identify such forward-looking statements.
      You
      should not place too much reliance on these forward-looking statements. Our
      actual results are likely to differ materially from those anticipated in these
      forward-looking statements for many reasons, including the risks faced by us
      described in this section.





RESULTS
      OF OPERATION





During
      the period since inception on April 12, 2000 to April 30, 2008, we have incurred
      operating losses aggregating $49,198,657. At April 30, 2008, we had liabilities
      of $4,787,532 and a working capital surplus of $14,863.





At
      the
      annual shareholders meeting in Calgary, December 2007, the Board of Directors
      was directed to sell  all of the Company's  interest in Zingo,
      Inc.,  which included the  Zingo shares  owned by
      the Company and receivables  from Zingo. The Company sold
      all its interests in Zingo for the total appraised value of
      these assets of $215,000, received on April 18, 2008.  We
      have  written off our receivables from Zingo in our
      financials as a result of this sale.  In
      connection with this sale, we recognized a loss of $162,129.





The
      continuation of the Company as a going concern is dependent upon the continued
      financial support from our shareholders, our ability to obtain necessary debt
      and equity financing to continue operations, and the attainment of profitable
      operations. Our auditors have expressed substantial doubt concerning our ability
      to continue as a going concern.





As
      of
      April 30, 2008, we had $15,612 cash on hand.





NINE
      MONTHS ENDED APRIL 30, 2008 and 2007





We
      incurred a net loss of $4,649,887 for the nine months ended April 30, 2008,
      which included general and administrative costs of $2,944,590, research and
      development expense of $1,058,180 and
      stock
      based compensation expense of $804,652 .
      The net
      loss for this period included a loss of $162,129 incurred in connection with
      the
      sale of our controlling interest in Zingo, Inc.





Our
      net
      loss for the nine-month period ended April 30, 2008 decreased from
      the
      comparative period in fiscal 2007 (from $12,760,682 in 2007 to $4,649,887 in
      2008). This was primarily due to a decrease in general and administrative
      expense from $11,563,272 in the nine-month period ended April 30, 2007, to
      $2,944,590 for the comparable period in 2008, and an increase in stock based
      compensation expense from $-0- in 2007 to $804,652 in 2008. In 2008, we also
      incurred interest expense of $142,349 related to loans payable, as compared
      with
      $63,901 for the comparable period in 2007.





THREE
      MONTHS ENDED APRIL 30, 2008 and 2007





We
      incurred a net loss of $2,277,673 for the three months ended April 30, 2008,
      which included general and administrative costs of $970,536, research and
      development expense of $657,350 and stock based compensation expense of
      $804,652. The net loss for this period included a loss of $162,129 incurred
      in
      connection with the sale of our controlling interest in Zingo, Inc.


12





Our
      net
      loss for the three-month period ended April 30, 2008 decreased from
      the
      comparative period in fiscal 2007 (from $4,739,255 in 2007 to $2,277,673 in
      2008). This was primarily due to a decrease in general and administrative
      expense from $3,929,071 in the three-month period ended April 30, 2007, to
      $970,536 for the comparable period in 2008, and an increase in stock based
      compensation expense from $-0- in 2007 to $804,652 in 2008; an increase in
      research and development expense from $461,100 in 2007 to $657,350 in 2008;
      and
      a decrease in sales from $384,023 in the three-month period ended April 30,
      2007, to $169,981 in 2008. In 2008, we also incurred interest expense of $97,264
      related to loans payable, as compared with $22,747 for the comparable period
      in
      2007.





Telecommunications
      Services





On
      April
      16, 2008 we sold our controlling interest of approximately 69% of the
      outstanding common stock in Zingo, Inc. (now Superlattice Power, Inc.), which
      provided telecommunication services to business and residential customers
      utilizing VoIP technology.





Electric
      Vehicle Operations





We
      convert vehicles in our developmental facility in Mooresville, North Carolina.
      Our team of highly qualified engineers oversee groups of electrical and
      mechanical staff. This 40,000 square foot facility has room for both conversions
      and storage with the potential for future growth, enabling us to work on many
      projects and vehicles concurrently.





With
      the
      license of our lithium battery technology described below, we are concentrating
      on sales of our vehicles. We have initiated several nationwide newspaper
      advertising campaigns which have generated orders for our vehicles, and we
      are
      also seeing as a result a significant increase in inquiries about our electric
      vehicle products.





Effective
      April 15, 2008, we entered into a License Agreement (the “License Agreement”)
      with Superlattice Power, Inc. (formerly our subsidiary, Zingo, Inc., “SPI”)
      providing for our license to SPI of our patent applications and technologies
      for
      rechargeable lithium ion batteries for hybrid vehicles and other applications
      (“Licensed Products”). Under the License Agreement, we have the right to
      purchase our requirements of lithium ion batteries from SPI, and our
      requirements of lithium ion batteries shall be supplied by SPI in preference
      to,
      and on a priority basis as compared with, supply and delivery arrangements
      in
      effect for other customers of SPI. Our cost for lithium ion batteries purchased
      from SPI shall be SPI’s actual manufacturing costs for such batteries for the
      fiscal quarter of SPI in which our purchase takes place.





SPI
      has
      agreed to invest a minimum of $1,500,000 in each of the next two years in
      development of the technology for the Licensed Products.




Effective
      April 16, 2008, SPI agreed to lease approximately 5,000 square feet of space
      (“Leased Space”) in our North Carolina facility, such Leased Space to be
      suitable for, and utilized by SPI for, SPI’s developmental and manufacturing
      operations for Licensed Products pursuant to the License Agreement. The Leased
      Space is leased on a month-to-month basis at a monthly rental of $2,500, the
      monthly rental to be escalated five (5%) percent annually. Effective April
      16,
      2008, we also sold to SPI for the purchase price of $29,005, specified equipment
      and supplies related to the Licensed Field.


13





Commercial
      Initiatives





On
      February 5, 2004 we announced the initiation of a lithium-ion conversion project
      with the United States Navy. We have funded the initial 3kw prototype for this
      project, and the prototype has been completed and delivered to the Navy. The
      NYC
      Taxi Commission agreed to test a PT Cruiser which was delivered January 2007.
      The converted PT Cruiser Taxi was driven for two months in New York City. The
      vehicle has been returned and the project is completed. Paratransit, Sacramento,
      California, a company providing community transportation services, purchased
      two
      converted PT Cruisers. We have signed a Space Act agreement with NASA and
      several vehicles are being tested by NASA at the Kennedy Space Center in
      Florida. We are also constructing a “green” home in Calgary, Alberta. We signed
      an agreement in June 2007, pursuant to which the Canadian Ministry of
      Transportation purchased a Smart Car and PT Cruiser, both of which have been
      delivered. In September 2007, we signed a contract to provide a PT Cruiser
      to
      Arcadis, a contractor to the U.S. Environmental Protection
      Administration.





5.2
      Liquidity and Capital Resources





Since
      our
      incorporation, we have financed our operations almost exclusively through
      the sale of our common shares to investors and borrowings. We expect to finance
      operations through the sale of equity in the foreseeable future as we receive
      minimal revenue from our current business operations. There is no guarantee
      that
      we will be successful in arranging financing on acceptable terms.





During
      the nine months ended April 30, 2008, we received proceeds of $4,421,662 from
      the issuance of promissory notes for debt, of which $3,406,000 were notes issued
      pursuant to the Wyndom Capital loan agreement described below, and the balance
      of the debt was incurred in connection with the refinancing of our facility
      in
      North Carolina. Our ability to raise additional capital is affected by trends
      and uncertainties beyond our control.





*Sterling
      Capital Loan Agreement*





On
      February 24, 2004, we announced receipt of $1 million dollars of a $3 million
      dollar non-recourse loan to be collateralized by stock. On April 14, 2004,
      we
      drew down an additional $1,000,000 on this loan, and on April 22, 2004, we
      drew
      down the final $1,000,000 of the loan. The lender was Sterling Capital, Inc.,
      and the loan was collateralized by 9,000,000 shares of restricted common stock
      (split adjusted), which shares, together with shares issuable by reason of
      stock
      splits and dividends, totaling 12,732,500 shares, were issued to Sterling
      Capital at the maturity of the loan, since the recourse of Sterling Capital
      in
      the event of nonpayment of the loan at maturity was solely to the shares held
      in
      escrow as collateral.





*Wyndom
      Capital Loan Agreement*





On
      October 29, 2007, we entered into a Loan Agreement with Wyndom Capital
      Investments, Inc. (referred to in this paragraph as the “Lender”). The Loan
      Agreement provides for loans to the Company of up to $4,000,000, with a minimum
      initial loan of $500,000 the disbursement of which to us took place in late
      October, 2007. The notes evidencing the installments of the loans bear interest
      payable monthly in arrears at the rate of 10% per annum, and mature and are
      due
      and payable three years from the date of issuance. The loans under the Loan
      Agreement are secured by shares of our common stock held by the Lender. We
      are
      required to issue shares as collateral at the rate of two and one half shares
      of
      our common stock for each dollar principal amount of the loan advanced to us.
      If
      there is a trading halt in our common stock or we file for bankruptcy or
      reorganization, the Lender has full recourse against the Company to collect
      the
      unpaid amounts owing under the Loan Agreement and notes issued pursuant thereto,
      including a first priority lien on all of our assets. In the event of the
      occurrence of another type of default, which we do not cure in a timely fashion,
      the Lender, as its sole recourse, is entitled to take possession for its sole
      benefit of the shares of common stock designated as collateral for the principal
      amount of the Loan that is in default. After the Lender has disbursed the first
      $1,000,000 principal amount of the Loan to us, the Lender is entitled to receive
      a certificate for the balance of the 7,500,000 shares of common stock
      representing the collateral for the $3,000,000 balance of the funds that may
      be
      disbursed under the Loan Agreement. To the extent the $3,000,000 balance of
      funds are not delivered, we are entitled to cancel such certificate, with the
      Lender retaining the appropriate number of shares as collateral for advances
      in
      excess of $1,000,000. Following disbursement of the first $1,000,000 of funds
      pursuant to the Loan Agreement, on November 19, 2007, we issued 10,000,000
      shares of common stock as collateral to the Lender. Following the one-for-seven
      reverse split effective in January 2008, we issued 8,571,427 shares of common
      stock to Wyndom to bring the number of their collateral shares back up to
      10,000,000, as required by the Wyndom Loan Agreement.


14





We
      have
      been disbursed loans in the aggregate amount of $3,406,000 under the Wyndom
      Capital Loan Agreement as of April 30, 2008.





*Crystal
      Capital Ventures Loan Agreement*





On
      May 5,
      2008, we entered into a Loan Agreement with Crystal Capital Ventures Inc.
      (referred to in this paragraph as the “Lender”). The Loan Agreement provides for
      loans to the Company of up to $3,000,000, with a minimum initial loan of
      $500,000 the disbursement of which to us took place on May 19, 2008. The notes
      evidencing the installments of the loans bear interest payable monthly in
      arrears at the rate of 10% per annum, and mature and are due and payable three
      years from the date of issuance. The loans under the Loan Agreement are secured
      by shares of our common stock held by the Lender. We are required to issue
      shares as collateral at the rate of two and one half shares of our common stock
      for each dollar principal amount of the loan advanced to us. If there is a
      trading halt in our common stock or we file for bankruptcy or reorganization,
      the Lender has full recourse against the Company to collect the unpaid amounts
      owing under the Loan Agreement and notes issued pursuant thereto, including
      a
      priority lien on all of our assets. In the event of the occurrence of another
      type of default, which we do not cure in a timely fashion, the Lender, as its
      sole recourse, is entitled to take possession for its sole benefit of the shares
      of common stock designated as collateral for the principal amount of the Loan
      that is in default. After the Lender has disbursed the first $1,000,000
      principal amount of the Loan to us, the Lender is entitled to receive a
      certificate for the balance of the 5,000,000 shares of common stock representing
      the collateral for the $2,000,000 balance of the funds that may be disbursed
      under the Loan Agreement. To the extent the $2,000,000 balance of funds are
      not
      delivered, we are entitled to cancel such certificate, with the Lender retaining
      the appropriate number of shares as collateral for advances in excess of
      $1,000,000. Following disbursement of the first $1,000,000 of funds pursuant
      to
      the Loan Agreement, on May 27, 2008, we issued 7,500,000 shares of common stock
      as collateral to the Lender.





We
      have
      been disbursed loans in the aggregate amount of $1,000,000 under the Crystal
      Capital Loan Agreement as of May 31, 2008.





Our
      current operating funds are less than necessary for commercialization of our
      planned products, and therefore we will need to obtain additional financing
      in
      order to complete our business plan. We anticipate that up to $2,000,000 of
      additional working capital will be required over the next 12 months for market
      introduction of these products through joint venture partners or otherwise.
      We
      do not have sufficient cash on hand to meet these anticipated
      obligations.





Apart
      from the Wyndom Capital and Crystal Capital Loan Agreements, which may not
      furnish us with all of the capital that we will require, we do not currently
      have any other arrangements for financing, and we may not be able to find such
      financing if required. Obtaining additional financing would be subject to a
      number of factors, including investor sentiment. Market factors may make the
      timing, amount, terms or conditions of additional financing unavailable to
      us.


15





Our
      auditors are of the opinion that our continuation as a going concern
      is in doubt. Our continuation as a going concern is dependent upon continued
      financial support from our shareholders and other related parties.





CRITICAL
      ACCOUNTING ISSUES




The
      Company's discussion and analysis of its financial condition and results of
      operations are based upon the Company's financial statements, which have been
      prepared in accordance with accounting principles generally accepted in the
      United States of America. The preparation of the financial statements requires
      the Company to make estimates and judgments that affect the reported amount
      of
      assets, liabilities, and expenses, and related disclosures of contingent assets
      and liabilities. On an on-going basis, the Company evaluates its estimates,
      including those related to intangible assets, income taxes and contingencies
      and
      litigation. The Company bases its estimates on historical experience and on
      various assumptions that are believed to be reasonable under the circumstances,
      the results of which form the basis for making judgments about carrying values
      of assets and liabilities that are not readily apparent from other sources.
      Actual results may differ from these estimates under different assumptions
      or


conditions.




Other
      Matters




Accounting
      Pronouncements





In
      September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements,” which
      enhances existing guidance for measuring assets and liabilities using fair
      value.  The new Statement provides a single definition of fair value,
      together with a framework for measuring it, and requires additional disclosure
      about the use of fair value to measure assets and liabilities.  SFAS No.
      157 also emphasizes that fair value is a market-based measurement, not an
      entity-specific measurement, and sets out a fair value hierarchy with the
      highest priority being quoted prices in active markets.  Under SFAS No.
      157, fair value measurements are disclosed by level within that hierarchy. 
While SFAS No. 157 does not add any new fair value measurements, it does change
      current practice.  SFAS No. 157 is effective for financial statements
      issued for fiscal years beginning after November 15, 2007, and interim periods
      within those fiscal years.  The Company does not believe that SFAS No. 157
      will have a material impact on its financial statements.




In
      July
      2006, the Financial Accounting Standards Board ("FASB") issued Interpretation
      No. 48 "Accounting for Uncertainty in Income Taxes" ("FIN 48"). The
      interpretation requires a two step approach for recognizing and measuring tax
      benefits based on a recognition threshold of "more likely than not." FIN 48
      also
      requires explicit disclosures about uncertainties in tax positions including
      a
      detailed rollforward of tax benefits that do not qualify for financial statement
      recognition. The adoption of FIN 48 is effective for fiscal years beginning
      after December 15, 2006, The implementation of FIN 48 could have a material
      effect on the consolidated balance sheets and results of operations but the
      effect of such implementation is not determinable at this time.




In
      December 2004 the FASB issued SFAS No. 153, an amendment of APB Opinion No.
      29,
      "Exchange of Nonmonetary Assets." SFAS No. 153 amends APB Opinion No.29 by
      eliminating the exception under APB No. 29 for nonmonetary assets of similar
      productive assets and replaces it with a general exception for exchanges on
      nonmonetary assets that do not have commercial substance. A nonmonetary exchange
      has commercial substance if the future cash flows of the entity are expected
      to
      change significantly as a result of the exchange. SFAS no. 153 is effective
      for
      fiscal years beginning after June 15, 2005. The adoption of SFAS No. 153 did
      not
      have a material effect on the Company's consolidated financial position or
      results of operations.


16





New
      Financial Accounting Standards





In
      September 2006, the Financial Accounting Standards Board (“FASB”) issued SFAS
      No. 157 “Fair Value Measurements,” (“SFAS 157”) which enhances existing guidance
      for measuring assets and liabilities using fair value. This standard provides
      a
      single definition of fair value, together with a framework for measuring it,
      and
      requires additional disclosure about the use of fair value to measure assets
      and
      liabilities. SFAS 157 is effective for financial statements issued for fiscal
      years beginning after November 15, 2007, and interim periods within those fiscal
      years. The Company does not believe that SFAS 157 will have a material impact
      on
      its financial statements.





In
      February 2007, the FASB issued SFAS No. 159 “The Fair Value Option for Financial
      Assets and Financial Liabilities,” (“SFAS 159”) providing companies with an
      option to report selected financial assets and liabilities at fair value. The
      standard’s objective is to reduce both complexity in accounting for financial
      instruments and the volatility in earnings caused by measuring related assets
      and liabilities differently. It also requires entities to display the fair
      value
      of those assets and liabilities for which the Company has chosen to use fair
      value on the face of the balance sheet. SFAS 159 is effective for fiscal years
      beginning after November 15, 2007. The Company is currently evaluating the
      impact of the adoption of this Statement on its financial statements.





In
      December 2007, the FASB issued SFAS No. 141 (revised 2007) (“SFAS 141 (R)”)
“Business Combinations”, which replaces SFAS 141 “Business Combinations”. This
      Statement improves the relevance, completeness and representational faithfulness
      of the information provided in financial reports about the assets acquired
      and
      the liabilities assumed in a business combination. This Statement requires
      an
      acquirer to recognize the assets acquired, the liabilities assumed, and any
      noncontrolling interest in the acquiree at the acquisition date, measured at
      their fair values as of that date, with limited exceptions specified in the
      Statement. Under SFAS 141(R), acquisition-related costs, including restructuring
      costs, must be recognized separately from the acquisition and will generally
      be
      expensed as incurred. That replaces SFAS 141’s cost-allocation process, which
      required the cost of an acquisition to be allocated to the individual assets
      acquired and liabilities assumed based on their estimated fair values. SFAS
      141(R) shall be applied prospectively to business combinations for which the
      acquisition date is on or after the beginning of the first annual report period
      beginning on or after December 15, 2008. The Company will implement this
      Statement in 2009.





In
      December 2007, the FASB issued SFAS No. 160 “Non-Controlling Interests in
      Consolidated Financial Statements – An Amendment of ARB No. 51” (“SFAS
      160”). SFAS 160 establishes new accounting and reporting standards for the
      non-controlling interest in a subsidiary and for the deconsolidation of a
      subsidiary. Specifically, this statement requires the recognition of
      non-controlling interests (minority interest) as equity in the consolidated
      financial statements and separate from parent’s equity. The amount of net income
      attributable to the non-controlling interest will be included in consolidated
      net income on the face of the income statement. SFAS 160 clarifies that changes
      in a parent’s ownership in a subsidiary that does not result in deconsolidation
      are equity transactions if the parent retains its controlling financial
      interest. In addition, this statement requires that a parent recognize a gain
      or
      loss in net income when a subsidiary is deconsolidated. Such gain or loss will
      be measured using the fair value of the non-controlling equity investment of
      the
      deconsolidation date. SFAS 160 also includes expanded disclosure requirements
      regarding the interest of the parent and its non-controlling interest. SFAS
      160
      is effective for fiscal years, and interim periods other than fiscal years,
      beginning on or after December 15, 2008. The Company is currently evaluating
      the
      impact of the adoption of this Statement on its financial
      statements.


17





In
      January 2008, Staff Accounting Bulletin (“SAB”) 110 “Share-Based Payment” (“SAB
      110”), was issued. Registrants may continue, under certain circumstances, to use
      the simplified method in developing estimates of the expected term of share
      options as initially allowed by SAB 107, “Share-Based Payments”. The adoption of
      SAB 110 should have no effect on the financial position and results of
      operations of the Company.





INTANGIBLES




In
      June
      2001, the FASB issued SFAS No. 142, "Goodwill and Other Intangible Assets."
      SFAS
      No. 142 specifies the financial accounting and reporting for acquired goodwill
      and other intangible assets. Goodwill and intangible assets that have indefinite
      useful lives are not amortized but rather they are tested at least annually
      for
      impairment unless certain impairment indications are identified.







Item
      3.
      Quantitative and Qualitative Disclosures About Market Risk




Interest
      Rate Risk - Interest rate risk refers to fluctuations in the value of a security
      resulting from changes in the general level of interest rates. Investments
      that
      are classified as cash and cash equivalents have original maturities of three
      months or less. Our interest income is sensitive to changes in the general
      level
      of U.S. interest rates. We do not have significant short-term investments,
      and
      due to the short-term nature of our investments, we believe that there is not
      a
      material risk exposure. Our debt is at fixed interest rates.





Credit
      Risk - Our accounts receivables are subject, in the normal course of business,
      to collection risks. We regularly assess these risks and have established
      policies and business practices to protect against the adverse effects of
      collection risks. As a result we do not anticipate any material losses in this
      area.





Item
      4(T). Controls and Procedures.




As
      of the
      end of the fiscal quarter covered by this Form 10-Q, the Company carried out
      an
      evaluation, under the supervision and with the participation of the Company’s
      management, including the Company’s Chief Executive Officer and Principal
      Financial and Accounting Officer, of the effectiveness of the design and
      operation of the Company’s disclosure controls and procedures as defined in Rule
      13a-14 of the Securities Exchange Act of 1934. Based upon that evaluation,
      the
      Chief Executive Officer and Principal Financial and Accounting Officer concluded
      that the Company’s disclosure controls and procedures are effective in timely
      alerting her to material information relating to the Company (including its
      consolidated subsidiaries) required to be included in this Quarterly Report
      on
      Form 10-Q. There have been no changes in the Company’s internal controls or in
      other factors which could significantly affect internal controls subsequent
      to
      the date the Company carried out its evaluation.





PART
      II-
      OTHER INFORMATION





Item
      1.
      Legal Proceedings.





Other
      than as described below, we are not a party to any material legal proceedings
      and to our knowledge, no such proceedings are threatened or contemplated. At
      this time we have no bankruptcy, receivership or similar proceedings
      pending.


18





Securities
      and Exchange Commission Inquiry and Investigation





On
      July
      30, 2004, we received a request for voluntary production of documents and
      information pursuant to a Securities and Exchange Commission informal inquiry.
      The documents requested include those related to our stock issuances, major
      corporate transactions, including the Azra shopping center, the Queens mineral
      property and the licensing agreements with RV Systems, agreements with
      consultants and related parties, as well as those relating to potential joint
      venture partners and customers. We fully cooperated with the Commission in
      response to its request for information.





On
      February 10, 2006, we received another request for voluntary production of
      documents and information pursuant to a Securities and Exchange Commission
      ("SEC") informal inquiry, and on April 24, 2006, we received a subpoena from
      the
      SEC issued in an investigation initiated by the SEC with respect to the matters
      covered by the inquiry and a broad range of other matters. Our President
      voluntarily testified and all requested documents were submitted.





The
      Depository Trust and Clearing Corporation Case





On
      November 23, 2004, the Company filed a Complaint in the Eighth Judicial District
      Court, County of Clark, State of Nevada, sitting in Las Vegas, Nevada, styled
      "Whistler Investments, Inc., et al. v. The Depository Trust and
      Clearing Corporation, et al.", Case No. A495703. The defendants include The
      Depository Trust Company and the National Securities Clearing
      Corporation. The action alleges 22 state law claims, including intentional
      and negligent misrepresentation, fraud, racketeering, negligence, conversion,
      interference with contractual relations and prospective economic advantages
      and
      conspiracy. A motion to dismiss has been filed by defendants. Our case is on
      appeal at the Ninth Circuit. Our Opening Brief has been filed. Briefing is
      still
      in progress. A decision is expected in 15-20 months.





Other
      Matters




On
      June
      3, 2008, we were notified of a case filed on June 2, 2008, by Peter Strojnik,
      Attorney at Law, in the Federal Court for the District of Arizona (Peter
      Strojnik, P.C. v. The Energy Bull et al., 2:08-cv-1017 ROS).
      The complaint seeks damages against The Energy Bull and unknown defendants
      based
      on transmission of unsolicited facsimiles illegally promoting the stock of
      the
      Company to the plaintiff and members of the class that the plaintiff purports
      to
      represent. The Company is not a defendant in this case and disclaims, and has
      continually disclaimed on its web site and in its communications with
      the investing public, all responsibility for authorizing in any manner
      unsolicited facsimiles issued by The Raging Bull or other parties that seek
      to
      promote the Company’s stock.





Item
      6.
      Exhibits





Ex
                31
            Certification
                of Chief Executive Officer and Principal Financial Officer Pursuant
                to
                Section 302 of the Sarbanes-Oxley Act of 2002, filed
                herewith.Ex
                32
            Certification
                of Chief Executive Officer and Principal Financial Officer Pursuant
                to 18
                U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the
                Sarbanes-Oxley Act of 2002,filed
                herewith.




19




SIGNATURES





In
      accordance with the requirements of the Exchange Act, the registrant caused
      this
      report to be signed on its behalf by the undersigned, thereunto duly
      authorized.





Hybrid
                Technologies, Inc./s/Holly
                RoseberryHolly
                RoseberryPresident
                and Director(Chief
                Executive Officer andPrincipal
                Financial Officer)Dated:
                June 20, 2008


20