**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


Washington
      D. C. 20549





**FORM
      10-QSB**





**QUARTERLY
      REPORT UNDER SECTION 13 or 15 (d)**


**OF
      THE SECURITIES EXCHANGE ACT OF 1934**


For
      the
      quarterly period ended June 30, 2007


*Commission
      file number 333-63432*





**Atlantic
      Wine Agencies Inc.**


(Exact
      name of small business issuer as specified in its charter)




Florida
            65-1102237(State
                or other jurisdiction of
            (I.R.S.
                Employerincorporation
                or organization)
            Identification
                No.)




Mount
      Rosier Estate (Pty) Ltd.


Farm
      25
      A-Sir Lowry’s Pass Village


Somerset
      West, 7129


South
      Africa


(Address
      of principal executive offices) (Zip Code)





Issuer's
      telephone number: 011.27.218.581130


(Issuer's
      telephone number)




Check
      whether the issuer (1) has 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. Yes xNo o




State
      the
      number of shares outstanding of each of the issuer's classes of common equity,
      as of the latest practicable date.




The
      number of shares of outstanding common stock of Atlantic Wine Agencies, Inc.
      (the “Company”), which is the only class of its common equity, on August 14,
      2007, was 86,323,880.









**Item
      1. Financial Statements**





Description
            
            Page
                No.FINANCIAL
                INFORMATION:Financial
                StatementsConsolidated
                Balance Sheets at June 30, 2007 (unaudited) and March 31, 2007
                (audited)
            
            
            3Consolidated
                Statement of Operations for the Three Months Ended June 30, 2007
                and 2006respectively
                (Unaudited)
            
            
            4Consolidated
                Statements of Cash Flows for the Three Months Ended June 30, 2007
                and 2006
                respectively (Unaudited)
            
            
            5Notes
                to Consolidated Financial Statements (Unaudited)
            
            
            6





2


ATLANTIC
      WINE AGENCIES, INC. and SUBSIDIARIES


(Formerly
      New England Acquisitions, Inc.)





CONSOLIDATED
      BALANCE SHEETS


June
                  30,
              
              March
                  31,2007
              
              2007(Unaudited)
              
              (Audited)CURRENT
                  ASSETSCash
              
              
              
              
              $
              341Accounts
                  receivable
              
              $
              35,874
              
              
              37,875Inventory
              
              
              140,719
              
              
              144,480Prepaid
                  expenses and other
              
              
              
              
              
              13Total
                  Current Assets
              
              
              176,593
              
              
              182,709OTHER
                  ASSETSProperty,
                  plant and equipment, net
              
              
              2,511,257
              
              
              2,437,488Trademark
              
              
              1,242
              
              
              1,207Total
                  Assets
              
              $
              2,689,092
              
              $
              2,621,404LIABILITIES
                  AND STOCKHOLDERS’ EQUITYCURRENT
                  LIABILITIESBank
                  overdraft
              
              $
              433,458
              
              $
              158,967Loans
                  from principal shareholders
              
              
              1,259,863
              
              
              1,259,863Accounts
                  payable
              
              
              166,197
              
              
              208,669Accrued
                  expenses
              
              
              278,763
              
              
              332,618Loan
                  payable to principal officer
              
              
              135,320
              
              
              135,320Total
                  Current Liabilities
              
              
              2,273,601
              
              
              2,095,437STOCKHOLDERS’
                  EQUITYCommon
                  stock authorized 150,000,000shares;
                  $0.00001 par value; issuedand
                  outstanding 86,323,880 shares
              
              
              868
              
              
              868Additional
                  contributed capital
              
              
              7,829,536
              
              
              7,829,536Accumulated
                  deficit
              
              
              (7,915,052
              )
              
              (7,749,230
              )Accumulated
                  other comprehensive income
              
              
              500,139
              
              
              444,793Total
                  Stockholders’ Equity
              
              
              415,491
              
              
              525,967$
              2,689,092
              
              $
              2,621,404


See
      accompanying notes to financial statements.


3


ATLANTIC
      WINE AGENCIES, INC. and SUBSIDIARIES


(Formerly
      New England Acquisitions, Inc.)





CONSOLIDATED
      STATEMENTS OF OPERATIONS


For
                  the Three Months EndedJune
                  30,2007
              
              2006(Unaudited)
              
              (Unaudited)NET
                  SALES
              
              $
              46,020
              
              $
              55,959COSTS
                  AND EXPENSESCost
                  of goods sold
              
              
              20,330
              
              
              13,820Selling,
                  general and administrative
              
              
              157,328
              
              
              42,185Depreciation
                  and amortization
              
              
              32,172
              
              
              26,086Interest
                  expense
              
              
              4,972Total
                  Costs and Expenses
              
              
              214,802
              
              
              82,091OTHER
                  INCOMEInsurance
                  claims
              
              
              
              
              
              9,195Other
                  miscellaneous income
              
              
              2,960Total
                  Other Income
              
              
              2,960
              
              
              9,195NET
                  LOSS
              
              
              (165,822
              )
              
              (16,937
              )NET
                  LOSS PER SHARE, basic and diluted
              
              $
              (0.01
              )
              $
              (0.01
              )Weighted
                  average number of common shares outstanding
              
              
              86,323,880
              
              
              86,323,880





See
      accompanying notes to financial statements.




4


ATLANTIC
      WINE AGENCIES, INC. and SUBSIDIARIES


(Formerly
      New England Acquisitions, Inc.)





CONSOLIDATED
      STATEMENTS OF CASH FLOWS




For
                  the Three Months EndedJune
                  30,2007
              
              2006(Unaudited)
              
              (Unaudited)CASH
                  FLOWS FROM OPERATING ACTIVITIESNet
                  loss for period
              
              $
              (165,822
              )
              $
              (16,937
              )Non-cash
                  item included in net loss:Depreciation
                  and amortization
              
              
              32,172
              
              
              26,086Changes
                  in operating assets and liabilities:Accounts
                  receivable
              
              
              2,001
              
              
              206,017Inventory
              
              
              3,761
              
              
              (309,726
              )Prepaid
                  expense and other
              
              
              13
              
              
              606Accounts
                  payable
              
              
              (42,472
              )
              
              12,435Accrued
                  expenses
              
              
              (53,855
              )
              
              (134,415
              )Accrued
                  payroll taxes
              
              
              
              
              
              (25,207
              )Net
                  Cash Used In Operating Activities
              
              
              (224,202
              )
              
              (241,141
              )CASH
                  FLOWS FROM FINANCING ACTIVITIESBank
                  overdraft
              
              
              274,491Loan
                  from principal shareholders
              
              
              
              
              
              96,643Due
                  to factoring agent
              
              
              
              
              
              (97,883
              )Net
                  Cash Used In Financing Activities
              
              
              274,491
              
              
              (1,240
              )CASH
                  FLOWS FROM INVESTING ACTIVITIESCapital
                  expenditure
              
              
              (36,190
              )Disposal
                  of fixed assets
              
              
              
              
              
              191,791Net
                  Cash Provided by (Used in) Investing Activities
              
              
              (36,190
              )
              
              191,791EFFECT
                  OF EXCHANGE RATE CHANGES ONCASH
              
              
              (14,440
              )
              
              3,823NET
                  DECREASE IN CASH
              
              
              (341
              )
              
              (46,767
              )CASH
                  AND CASH EQUIVALENTS ATBEGINNING
                  OF PERIOD
              
              
              341
              
              
              78,145CASH
                  AT END OF PERIOD
              
              $
              
              
              $
              31,378





See
      accompanying notes to financial statements.




5


ATLANTIC
      WINE AGENCIES,


INC.
      and
      SUBSIDIARIES


(Formerly
      New England Acquisitions, Inc.)





NOTES
      TO
      CONSOLIDATED FINANCIAL STATEMENTS


June
      30,
      2007


(Unaudited)





NOTE
      A -
      BASIS OF PRESENTATION





The
      accompanying condensed consolidated financial statements have been prepared
      in
      accordance with generally accepted accounting principles for interim financial
      information. Accordingly, they do not include all of the information and
      footnotes required by generally accepted accounting principles for complete
      financial statements. In the opinion of management, all adjustments (consisting
      of normal recurring accruals) considered necessary in order to make the
      financial statements not misleading have been included. Results for the three
      months ended June 30, 2007 are not necessarily indicative of the results that
      may be expected for the year ending March 31, 2008. For further information,
      refer to the financial statements and footnotes thereto included in the Atlantic
      Wine Agencies, Inc., formerly New England Acquisitions, Inc., annual report
      on
      Form 10-KSB for the year ended March 31, 2007.





NOTE
      B -
      GOING CONCERN





As
      indicated in the accompanying financial statements, the Company has an
      Accumulated deficit of $7,915,052. Management’s plans include the raising of
      capital through the equity markets to fund future operations and the generating
      of revenue through its business. Failure to raise adequate capital and generate
      adequate sales revenues could result in the Company having to curtail or cease
      operations. Additionally, even if the Company does raise sufficient capital
      to
      support its operating expenses and generate adequate revenues, there can be
      no
      assurances that the revenue will be sufficient to enable it to develop business
      to a level where it will generate profits and cash flows from operations. These
      matters raise substantial doubt about the Company’s ability to continue as a
      going concern. However, the accompanying financial statements have been prepared
      on a going concern basis, which contemplates the realization of assets and
      satisfaction of liabilities in the normal course of business. These financial
      statements do not include any adjustments relating to the recovery of the
      recorded assets or the classification of the liabilities that might be necessary
      should the Company be unable to continue as a going concern.





NOTE
      C -
      OVERDRAFT FACILITY





On
      April
      17, 2007, the Company entered into an additional overdraft facility arrangement
      with ABSA, a South African Bank for R 7,000,000 (U.S. $1,000,000). The loan
      is
      secured by the assets of the South African Winery and bears interest at the
      South African prime rate 12.5% per annum. The balance at June 30, 2007 is
      $433,458.





6


**Item
      2.** **Management’s
      Discussion and Analysis of Financial Condition and Results of
      Operation**




On
      October 13, 2006, we
      entered into an agreement with Auction Alliance, a South African auction firm,
      to sell our Myrtle Grove Property and Estates, subject to the minimum reserve
      being met. Assets including land, vineyards, winery equipment and stock were
      included in the auction sale. The initiation of the auction process resulted
      from the conclusions that (i) after expending considerable resources and efforts
      in developing our business and building world class wine brands from South
      Africa, significantly more capital is necessary to further grow the business
      which are unable to procure on commercially acceptable terms, (ii) The ZAR
      (South African Rand) has shown considerable volatility related to uncertainty
      regarding future political situation and (iii) the best time to maximize our
      South African property and operations is by selling through the public auction
      process locally in South Africa prior to the growing season in the southern
      hemisphere. We failed to agree to the terms to sell our assets in the auction
      process and thus continue operating our winery business. However, we will
      continue to seek alternative business operations and any transaction that would
      involve the sale of most or all of our assets. When the sale has been completed,
      we will seek to use the proceeds from such sale, after satisfying our current
      liabilities, to develop or acquire a business or businesses which we believe
      will best serve the long term interests of our shareholders. Such businesses
      may
      or may not be related to the wine industry. ****




**RESULTS
      OF OPERATIONS**




Operating
      costs for the three-months ended June 30, 2007 aggregated $214,802 or ($0.01)
      per share as compared to $82,091 or ($0.01) per share for the year ended June
      30, 2006.




**LIQUIDITY
      AND CAPITAL RESOURCES**




For
      the
      three-months ended June 30, 2007 net cash used to fund operating activities
      aggregated ($224,202), net cash utilized by investing activities aggregated
      ($36,190) and net cash provided by financing activities aggregated
      $274,491.




**CRITICAL
      ACCOUNTING POLICIES AND ESTIMATES**




The
      Company's discussion and analysis of its financial condition and results of
      operations are based upon its financial statements, which have been prepared
      in
      accordance with accounting principles generally accepted in the United States.
      The preparation of these financial statements requires the Company to make
      estimates and judgments that affect the reported amounts of assets, liabilities,
      revenues and expenses, and related disclosure of contingent assets and
      liabilities. On an on-going basis, the Company evaluates its estimates,
      including those related to bad debts, income taxes and contingencies and
      litigation. The Company bases its estimates on historical experience and on
      various other 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.




**RECENTLY
      ISSUED ACCOUNTING PRONOUNCEMENTS**





In
      June 2006, the Financial Accounting Standards Board (“FASB”) issued
      Interpretation 48, “Accounting for Income Tax Uncertainties” (“FIN 48”). FIN 48
      defines the threshold for recognizing the benefits of tax return positions
      in
      the financial statements as “more-likely-than-not” to be sustained by the
      taxing authority. Recently issued literature also provides guidance on the
      derecognition, measurement and classification of income tax uncertainties,
      along
      with any related interest and penalties. FIN 48 also includes guidance
      concerning accounting for income tax uncertainties in interim periods and
      increases the level of disclosures associated with any recorded income tax
      uncertainties. FIN 48 is effective for fiscal years beginning after
      December 15, 2006. The Company expects to adopt the provisions of FIN 48
      beginning in the first quarter of 2007. The Company is currently in the process
      of determining the impact, if any, of adopting the provisions of FIN 48 on
      its
      financial position, results of operations and liquidity.




In
      September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements,” which
      defines fair value, establishes a framework for measuring fair value under
      other
      accounting pronouncements that permit or require fair value measurements,
      changes the methods used to measure fair value and expands disclosures about
      fair value measurements. In particular, disclosures are required to provide
      information on the extent to which fair value is used to measure assets and
      liabilities; the inputs used to develop measurements; and the effect of certain
      of the measurements on earnings (or changes in net assets).




7




SFAS
      No.
      157 is effective for fiscal years beginning after November 15, 2007 and interim
      periods within those fiscal years. Early adoption, as of the beginning of an
      entity’s fiscal year, is also permitted, provided interim financial statements
      have not yet been issued. The Company is currently evaluating the potential
      impact, if any, that the adoption of SFAS No. 157 will have on its consolidated
      financial statements.




In
      September 2006, the Securities and Exchange Commission issued Staff Accounting
      Bulletin No. 108, “Considering the Effects of Prior Year Misstatements when
      Quantifying Misstatements in Current Year Financial Statements” (“SAB No. 108”).
      SAB No. 108 provides guidance on how prior year misstatements should be
      considered when quantifying misstatements in the current year financial
      statements. SAB No. 108 requires registrants to quantify misstatements using
      both a balance sheet and an income statement approach and evaluate whether
      either approach results in quantifying a misstatement that, when all relevant
      quantitative and qualitative factors are considered, is material. SAB No. 108
      does not change the guidance in SAB No. 99, “Materiality,” when evaluating the
      materiality of misstatements. SAB No. 108 is effective for fiscal years ending
      after November 15, 2006. Upon initial application, SAB No. 108 permits a
      one-time cumulative effect adjustment to beginning retained earnings. The
      Company adopted SAB No. 108 for the fiscal year ended March 31, 2007. Adoption
      of SAB No. 108 did not have a material impact on the consolidated financial
      statements.





In
      February 2007, the FASB issued SFAS No. 159, *The
      Fair Value Option for Financial Assets and Financial Liabilities* (“SFAS 159”).
      SFAS 159 allows entities to measure at fair value many financial
      instruments and certain other assets and liabilities that are not otherwise
      required to be measured at fair value. SFAS 159 is effective for fiscal
      years beginning after November 15, 2007. The Company has not determined
      what impact, if any, that adoption will have on our results of operations,
      cash
      flows or financial position.




**CRITICAL
      ACCOUNTING POLICIES AND ESTIMATES**





The
      Company’s discussion and analysis of its financial condition and results of
      operations are based upon the its financial statements, which have been prepared
      in accordance with accounting principles generally accepted in the United
      States. The preparation of these financial statements requires the Company
      to
      make estimates and judgments that affect the reported amounts of assets,
      liabilities, revenues and expenses, and related disclosure of contingent assets
      and liabilities. On an on-going basis, the Company evaluates its estimates,
      including those related to bad debts, income taxes and contingencies and
      litigation. The Company bases its estimates on historical experience and on
      various other 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.




**Item
      3. Controls and Procedures.**





(a)
      Our
      principal executive officer and principal financial officer have evaluated
      the
      effectiveness of our disclosure controls and procedures (as defined in Exchange
      Act Rules 13a-14 and 15d-14) as of a date within 90 days prior to the filing
      date of this quarterly report and has concluded that our disclosure controls
      and
      procedures are adequate.





(b)
      There
      were no significant changes in our internal controls or in other factors that
      could significantly affect these controls subsequent to the date of their
      evaluation, including any corrective actions with regard to significant
      deficiencies and material weaknesses.





(c)
      Not
      applicable




8




**PART
      II**




**Item
      1. Legal Proceedings**




None.





**Item
      2. Changes in Securities**




None





**Item
      3. Defaults Upon Senior Securities**




None





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




None





**Item
      5. Other Information**




None





**Item
      6. Exhibits and Reports on Form 8-K**





a.
      Exhibit Index





Exhibit
      99.1 Certification of
      President and Principal Financial Officer





Exhibit
      99.2 Certification of
      President and Principal Financial Officer




b.
      Reports on Form 8-K




None.




9




**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.




**ATLANTIC
      WINE AGENCIES INC.**






/s/
      Adam
      Mauerberger





Name:
      Adam Mauerberger


Title:
      President, Chief Financial Officer and Chairman of the Board


Date:
      August 14, 2007





10