UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM 10-QSB



xQUARTERLY REPORT UNDER TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934



For the quarterly period endedSeptember 30, 2006



oTRANSITION REPORT UNDER TO SECTION 13 OR

15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



Commission file number000-30149



TOO LATE FINANCIAL CORPORATION

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



Nevada
        
        88-0453319(State or other jurisdiction of
        
        (I.R.S. Employerincorporation or organization)
        
        Identification No.)770 East Warm Springs Rd., Suite 250Las Vegas, Nevada
        
        89119(Address of principal executive offices
        
        (zip code)




Issuers telephone number:702) 866-5839



Copies of Communication to:



Stoecklein Law Group

402 West Broadway, Suite 400

San Diego, Ca 92101

(619) 595-4882

Fax (629) 595-4883



Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the last 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. YesxNoo



Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesxNoo



The number of shares of Common Stock, $0.001 par value, outstanding on September 30, 2006, was 9,654,370 shares.



Transitional Small Business Disclosure Format (check one): Yeso
Nox





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ITEM 1.
        FINANCIAL STATEMENTS




Too Late Financial Corporation

(a development stage company)

Condensed Balance Sheet



September 30,2006AssetsCurrent assets:Cash
        $                    -Total current assets
        -$                    -Liabilities and Stockholders EquityCurrent liabilities
        $                    -Stockholders EquityPreferred stock, $.001 par value 5,000,000 shares authorized zero issued and Outstanding
        -Common stock, $.001 par value, 20,000,000 shares authorized; 9,654,370 shares issued and outstanding as of September 30, 2006.
        9,654Additional paid in capital
        1,750(Deficit) accumulated during development stage
        (11,404)-$                    -




See notes to condensed financial statements



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Too Late Financial Corporation

(a development stage company)

Condensed Statements of Operations

For the Three and Nine Months Ending September 30, 2006 and 2005

And For the Period March 3, 2000 (Inception) to September 30, 2006



Three Months Ended
September 30,
        Nine Months Ended
September 30,
        March 3, 2000
(Inception) to September 30, 20062006
        2005
        2006
        2005Revenue
        $                    -
        $                    -
        $                    -
        $                    -
        $                      -Expenses:General and Administrative
        -
        -
        -
        750
        11,404Total Expenses
        -
        -
        -
        750
        11,404Net (loss)
        $                    -
        $                    -
        $                    -
        $             (750)
        $         (11,404)Weighted average number of common shares outstanding  basic and fully diluted
        9,654,370
        9,548,206
        9,654,370
        9,548,206Net (loss) per share  basic and fully diluted
        $            (0.00)
        $            (0.00)
        $            (0.00)
        $            (0.00)




See notes to condensed financial statements



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Too Late Financial Corporation

(a development stage company)

Condensed Statements of Cash Flows

For the Nine Months Ending September 30, 2006 and 2005

And For the Period March 3, 2000 (Inception) to September 30, 2006



Nine Months Ended
September 30,
        March 3, 2000 (Inception) to September 30, 20062006
        2005Cash flows from operating activities:Net (loss)
        $                     -
        $           (750)
        $           (11,404)Amortization
        -
        -
        -Stock issued for services
        -
        -
        5,000Conversion of debt to equity
        -
        1,000
        4,654Changes in assets and liabilitiesNote payable  related party
        -
        (250)
        -Net cash (used) by operating activities
        -
        -
        (1,750)Cash flows from investing activities:Organization costs
        -
        -
        -Donated capital
        -
        -
        1,750Net Cash (used) in Investing activities
        -
        -
        1,750Net (decrease) increase in cash
        -
        -
        -Cash -beginning
        -
        -
        -Cash - ending
        $                     -
        $                     -
        $                      -Supplemental disclosureInterest paid
        $                     -
        $                     -
        $                      -Income taxes paid
        $                     -
        $                     -
        $                      -Non-cash transactions:Number of shares issued for services
        -
        -
        5,000,000Number of shares issued to convert debt to equity
        -
        1,000,000
        4,654,370




See notes to condensed financial statements



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Too Late Financial Corporation

(a development stage company)

Notes to Condensed Financial Statements



NOTE 1  BASIS OF PRESENTATION



The condensed interim financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading.



These statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these condensed interim financial statements be read in conjunction with the financial statements of the Company for the year ended December 31, 2005 and notes thereto included in the Companys 10-KSB annual report. The Company follows the same accounting policies in the preparation of interim reports.



Results of operations for the interim period are not indicative of annual results.



NOTE 2  GOING CONCERN



The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. As a result, the Company incurred accumulated net losses from March 3, 2000 (inception) through the period ended September 30, 2006 of $11,404. In addition, the Companys development activities since inception have been financially sustained through equity financing.



The ability of the Company to continue as a going concern is dependent upon its ability to find a suitable acquisition/merger candidate, raise additional capital from the sale of common stock and, ultimately, the achievement of significant operating revenues. The accompanying financial statements do not include any adjustments that might be required should the Company be unable to recover the value of its assets or satisfy its liabilities.



NOTE 3  STOCKHOLDERS EQUITY



The Company is authorized to issue 20,000,000 shares of $0.001 par value common stock and 5,000,000 shares 0f $0.001 par valued preferred stock.



On March 3, 2000, the Company issued the sole officer of the Company 5,000,000 shares of its $.001 par value common stock for services valued at $5,000.



On January 1, 2001, the Company issued the sole officer of the Company 1,405,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $1,405.



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Too Late Financial Corporation

(a development stage company)

Notes to Condensed Financial Statements



On April 1, 2001, the Company issued the sole officer of the Company 22,060 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $22.



On July 1, 2001, the Company issued the sole officer of the Company 13,240 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $13.



On October 1, 2001, the Company issued the sole officer of the Company 14,060 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $14.



On April 1, 2002, the Company issued the sole officer of the Company 21,880 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $22.



On September 30, 2002, the Company issued the sole officer of the Company 28,130 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $28.



On December 31, 2002, the Company issued the sole officer of the Company 100,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $100.



On April 28, 2003, the Company issued the sole officer of the Company 500,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $500.



On June 17, 2003, the Company issued the sole officer of the Company 100,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $100.



On September 29, 2003, the Company issued the sole officer of the Company 100,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $100.



On December 31, 2003, the Company issued the sole officer of the Company 100,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $100.



On June 15, 2004, the Company issued the sole officer of the Company 1,000,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $1,000.



On September 29, 2004, the Company issued the sole officer of the Company 250,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $250.



On January 14, 2005, the Company issued the sole officer of the Company 250,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $250.





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Too Late Financial Corporation

(a development stage company)

Notes to Condensed Financial Statements



On February 16, 2005, the Company issued the sole officer of the Company 750,000 shares of its $.001 par value common stock for conversion of debt to equity in the amount of $750.



There have been no other issuances of common stock.



NOTE 4 - RELATED PARTY TRANSACTIONS



The Company neither owns or leases any real or personal property. Office services are provided without charge by the officer and director of the Company. Such costs are immaterial to the financial statements and accordingly, have not been reflected therein. The officer and director of the Company is involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such person may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.



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ITEM 2.
        PLAN OF OPERATION




We have registered our common stock on a Form 10-SB registration statement filed pursuant to the Securities Exchange Act of 1934, as amended (the Exchange Act) and Rule 12(g) thereof. We file with the Securities and Exchange Commission periodic and episodic reports under Rule 13(a) of the Exchange Act, including quarterly reports on Form 10-QSB and annual reports on Form 10-KSB.



We are currently seeking to engage in a merger with or acquisition of an unidentified foreign or domestic company which desires to become a reporting (public) company whose securities are qualified for trading in the United States secondary market. We meet the definition of a blank check company contained in Section (7)(b)(3) of the Securities Act of 1933, as amended. We have been in the developmental stage since inception and have no operations to date. Other than issuing shares to our sole stockholder, we have not commenced any operational activities.



We will not acquire or merge with any entity which does not intend to provide audited financial statements at or within a reasonable period of time after closing of the proposed transaction. We are subject to all the reporting requirements included in the Exchange Act. Included in these requirements is our duty to file audited financial statements as part of our Form 8-K to be filed with the Securities and Exchange Commission upon consummation of a merger or acquisition, as well as our audited financial statements included in our annual report on 10-KSB. If such audited financial statements are not available at closing, or within time parameters necessary to insure our compliance with the requirements of the Exchange Act, or if the audited financial statements provided do not conform to the representations made by the target business, the closing documents may provide that the proposed
transaction will be voidable at the discretion of our present management.



We will not restrict our search for any specific kind of businesses, but may acquire a business which is in its preliminary or development stage, which is already in operation, or in essentially any stage of its business life. It is impossible to predict at this time the status of any business in which we may become engaged, in that such business may need to seek additional capital, may desire to have its shares publicly traded, or may seek other perceived advantages which we may offer.



A business combination with a target business will normally involve the transfer to the target business of the majority of our common stock, and the substitution by the target business of its own management and board of directors.



We have, and will continue to have, no capital with which to provide the owners of business opportunities with any cash or other assets. However, management believes we will be able to offer owners of acquisition candidates the opportunity to acquire a controlling ownership interest in a company with securities registered pursuant to Rule 12(g) of the Exchange Act. Our officer and director has not conducted market research and is not aware of statistical data to support the perceived benefits of a merger or acquisition transaction for the owners of a business opportunity.



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Our audit reflects the fact that we have no current source of income. Further, that without realization of additional capital, it would be unlikely for the Company to continue as a going concern.



Our sole officer and director has agreed that he will advance any additional funds which we need for operating capital and for costs in connection with searching for or completing an acquisition or merger. Such advances have historically been converted to equity. There is no minimum or maximum amount the Officer and Director will advance to us. We will not borrow any funds for the purpose of repaying advances made by such Officer and Director, and we will not borrow any funds to make any payments to our promoters, management or their affiliates or associates.



The Board of Directors has passed a resolution which contains a policy that we will not seek an acquisition or merger with any entity in which our officer, director, stockholder or his affiliates or associates serve as officer or director or hold more than a 10% ownership interest.



Off-Balance Sheet Arrangements



We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.



Going Concern



The financial statements included in this filing have been prepared in conformity with generally accepted accounting principles that contemplate the continuance of us as a going concern. Our lack of cash is inadequate to pay all of the costs associated with our operations. Management intends to use borrowings and security sales to mitigate the effects of its cash position, however no assurance can be given that debt or equity financing, if and when required will be available. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets and classification of liabilities that might be necessary should we be unable to continue existence.



ITEM 3.
        CONTROLS AND PROCEDURES




We maintain disclosure controls and procedures designed to ensure that information required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the specified time periods.  As of the end of the period covered by this report, Anthony N. DeMint, our President and Chief Accounting Officer evaluated the effectiveness of our disclosure controls and procedures pursuant to Exchange Act Rule 13a-15. Based on the evaluation, which disclosed no significant deficiencies or material weaknesses, Mr. DeMint, our President and Chief Accounting Officer concluded that our disclosure controls and procedures are effective in timely alerting him to material information required to be included in our periodic SEC filings. There were no changes in our internal control over financial reporting that occurred during our
most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.



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PART II -- OTHER INFORMATION



ITEM 1.
        LEGAL PROCEEDINGS




There are no legal proceedings against us and we are unaware of any such proceedings contemplated against us.



ITEM 2.
        UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS




Not applicable.



ITEM 3.
        DEFAULTS UPON SENIOR SECURITIES




Not applicable.



ITEM 4.
        SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS




Not applicable.



ITEM 5.
        OTHER INFORMATION




Not applicable.



ITEM 6.
        EXHIBITS AND REPORTS ON FORM 8-K




(a)
        Exhibits




Exhibit
Number
        Description(3)(i)*
        Articles of Incorporation(a)        Articles of Incorporation(3)(ii)*
        Bylaws(a)        Bylaws(4)*
        Instruments defining the rights of security holders:(4)(i)
        (a)        Articles of Incorporation(b)        Bylaws
(c)        Stock Certificate Specimen(31)**
        Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002(32)**
        Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002


_____________

*Filed in Form 10-SB filed on March 29, 2000

**Filed Herewith



(b)
        Reports on Form 8-K


None



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SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



TOO LATE FINANCIAL CORPORATION



By:/s/ Anthony DeMint


Anthony N. DeMint, President



Dated: November 6, 2006



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