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**UNITED      STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington,      DC 20549**

**FORM      10-QSB**

**JULY        31, 2006**

**COMMISSION      FILE NUMBER: 0-30351**

**MediQuip      Holdings, Inc.**

|                **Utah**                                                                      |  75-2263732                                          |
|---------------------------------------------------------------------------------------------------|-----------------------------------------------------------|
|                (State                of other jurisdiction of incorporation or organization) |  (IRS                Employer Identification Number) |

**Kelsey      House, 77 High Street**

**Beckenham,      Kent**

**UK      BR3 1AN**

**+(44)      (0) 208 658 9575**

**July      31, 2006: 5,294,686**

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| ASSETS                                                                                                                                                                                        |   | July                31   | January                31 |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|---------------------------|
|                                                                                                                                                                                          |   | 2006                     | 2006                      |
| Current                assets                                                                                                                                                                 |   | ----------               | -----------               |
| Cash                                                                                                                                                                                          |   | $                2,264   | $                65,109   |
| Accounts                receivable, net of allowance for bad debts of $36,422 and                $36,566                                                                                      |   | 401,557                  | 416,944                   |
|                                                                                                                                                                                          |   |                     |                      |
| Inventory                                                                                                                                                                                     |   | 55,865                   | 187,166                   |
| Other                                                                                                                                                                                         |   | 66,070                   | 49,821                    |
|                                                                                                                                                                                          |   | ----------               | -----------               |
| Total                current assets                                                                                                                                                           |   | 525,756                  | 719,040                   |
|                                                                                                                                                                                          |   |                     |                      |
| Equipment,                net of accumulated depreciation of $409,740 and $343,402                                                                                                            |   | 250,240                  | 184,615                   |
|                                                                                                                                                                                          |   | -----------              | -----------               |
| TOTAL                ASSETS                                                                                                                                                                   |   | $                775,996 | $                903,655  |
|                                                                                                                                                                                          |   | ==========               | ==========                |
|                                                                                                                                                                                          |   |                     |                      |
| LIABILITIES                AND STOCKHOLDERS’ DEFICIT                                                                                                                                    |   |                     |                      |
|                                                                                                                                                                                          |   |                     |                      |
| Current                Liabilities                                                                                                                                                            |   |                     |                      |
| Note                payable to factor                                                                                                                                                         |   | $                291,235 | $                286,103  |
| Current                portion of notes payable                                                                                                                                               |   | 46,946                   | 55,244                    |
| Accounts                payable                                                                                                                                                               |   | 18,973                   | 129,005                   |
| Accrued                expenses                                                                                                                                                               |   | 490,659                  | 293,051                   |
| Amounts                payable to stockholder                                                                                                                                                 |   | 173,127                  | 259,268                   |
| Stock                payable                                                                                                                                                                  |   | -                        | 50,000                    |
|                                                                                                                                                                                          |   | -----------              | -----------               |
| Total                current liabilities                                                                                                                                                      |   | 1,020,940                | 1,072,671                 |
|                                                                                                                                                                                          |   |                     |                      |
| Long-term                portion of notes payable                                                                                                                                             |   | 34,738                   | 46,001                    |
|                                                                                                                                                                                          |   | -----------              | -----------               |
| Total                liabilities                                                                                                                                                              |   | 1,055,678                | 1,118,672                 |
|                                                                                                                                                                                          |   | -----------              | -----------               |
|                                                                                                                                                                                          |   |                     |                      |
| Commitments                                                                                                                                                                                   |   | -                        | -                         |
|                                                                                                                                                                                          |   |                     |                      |
| Stockholders’                deficit                                                                                                                                                    |   |                     |                      |
| Series                A convertible preferred stock, $.001 par value; 5,000,000 shares                authorized; 4,184,377 shares and 4,187,977 shares issued and                outstanding |   | 4,184                    | 4,188                     |
|                                                                                                                                                                                          |   |                     |                      |
| Series                C convertible preferred stock, $.001 par value; 30,000 shares authorized;                22,000 shares and 0 shares issued and outstanding                              |   | 22                       | -                         |
|                                                                                                                                                                                          |   |                     |                      |
| Common                stock, $.01 par value; 100,000,000 shares authorized; 5,294,686 shares                and                5,110,686 shares issued and outstanding                        |   | 52,947                   | 51,107                    |
|                                                                                                                                                                                          |   |                     |                      |
| Additional                paid in capital                                                                                                                                                     |   | 5,796,850                | 5,545,711                 |
| Accumulated                deficit                                                                                                                                                            |   | (5,819,462)              | (5,674,897)               |
| Accumulated                other comprehensive loss                                                                                                                                           |   | (314,223)                | (141,126)                 |
|                                                                                                                                                                                          |   | -----------              | -----------               |
| Total                stockholders’ deficit                                                                                                                                              |   | (279,682)                | (215,017)                 |
|                                                                                                                                                                                          |   | -----------              | -----------               |
| TOTAL                LIABILITIES AND STOCKHOLDERS’ DEFICIT                                                                                                                              |   | $                775,996 | $                903,655  |
|                                                                                                                                                                                          |   | ==========               | ==========                |

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| <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />  | Three Months Ended                          | Six Months Ended                            |
|------------------------------------------------------------------------------------------|---------------------------------------------|---------------------------------------------|
|                                                                                     | 2006                                        | 2005                                        | 2006 | 2005 |
|                                                                                     | ----------                                  | ----------                                  | ---------- | ---------- |
| Revenue                                                                                  |                                        |                                        |   |   |
| -                  Equipment rentals and                  sales                          | $                  590,293                  | $ 617,333                              | $1,041,953 | $1,053,021 |
| -                  Other                                                                 | 4,404                                       | 10,507                                      | 10,185 | 19,003 |
|                                                                                     | ----------                                  | ----------                                  | ---------- | ---------- |
|                                                                                     |                                        |                                        |   |   |
| Total                  revenues                                                          | 594,697                                     | 627,840                                     | 1,052,138 | 1,072,024 |
|                                                                                     | ----------                                  | ----------                                  | ---------- | ---------- |
|                                                                                     |                                        |                                        |   |   |
| Cost                  of sales                                                           | 146,556                                     | 159,486                                     | 236,817 | 287,490 |
| General                  and                  administrative                             | 493,077                                     | 389,363                                     | 866,395 | 757,251 |
| Depreciation                                                                             | 43,128                                      | 42,467                                      | 83,234 | 59,870 |
|                                                                                     | ----------                                  | ----------                                  | ---------- | ---------- |
|                                                                                     |                                        |                                        |   |   |
|                    Total operating expenses                                         | 682,761                                     | 591,316                                     | 1,186,446 | 1,104,611 |
|                                                                                     | ----------                                  | ----------                                  | ---------- | ---------- |
|                                                                                     |                                        |                                        |   |   |
| Net                  operating income                  (loss)                            | (88,064)                                    | 36,524                                      | (134,308) | (32,587) |
|                                                                                     |                                        |                                        |   |   |
| Equity                  in earnings                  of                                  |                                        |                                        |   |   |
|                    recruitment services                                             | -                                           | (60,346)                                    | - | (43,618) |
| Interest                  income                                                         | -                                           | 372                                         | - | 372 |
| Interest                  expense                                                        | (6,412)                                     | (10,504)                                    | (10,262) | (19,474) |
|                                                                                     | ----------                                  | ----------                                  | ---------- | ---------- |
|                                                                                     |                                        |                                        |   |   |
| Net                  loss                                                                | $ (94,476)                             | $ (33,954)                             | $                  (144,570) | $                   (95,307) |
|                                                                                     | ==========                                  | ==========                                  | ========== | ========== |
|                                                                                     |                                        |                                        |   |   |
| Basic                  and diluted                  loss                                 |                                        |                                        |   |   |
| per                  share                                                               | $                     (0.02) | $                     (0.11) | $                     (0.03) | $                     (0.17) |
|                                                                                     |                                        |                                        |   |   |
| Weighted                  average                  shares                                |                                        |                                        |   |   |
| outstanding                                                                              | 5,147,899                                   | 310,698                                     | 5,147,899 | 547,535 |

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|                                                                                    | Six                  Months                  Ended |
|-----------------------------------------------------------------------------------------|----------------------------------------------------|
|                                                                                    | 2006                                               | 2005 |
|                                                                                    |                                               |   |
| Cash                  Flows                  from Operating Activities                  |                                               |   |
|  Net                  loss                                                         | $                  (144,570)                       | $                   (95,307) |
|  Adjustments                  to reconcile net loss                  to net cash   |                                               |   |
|  used                  in operating                  activities:                   |                                               |   |
| Bad                  debt                  expense                                      | 24                                                 | - |
| Depreciation                                                                            | 83,234                                             | 59,870 |
| Imputed                  interest on shareholder notes payable                          | 342                                                | 14,273 |
| Changes                  in:                                                            |                                               |   |
| Accounts                  receivable                                                    | 36,863                                             | (170,260) |
| Inventory                                                                               | 140,953                                            | 61,930 |
| Other                  current                  assets                                  | (13,680)                                           | (13,538) |
| Accounts                  payable                                                       | (116,682)                                          | (45,442) |
| Accrued                  expenses                                                       | 182,154                                            | (68,304) |
|                                                                                    |                                               |   |
|  Net                  Cash Provided by                  /                          |                                               |   |
|    (Used                  in) Operating                  Activities      | 168,638                                            | (256,778) |
|                                                                                    |                                                    |   |
|                                                                                    |                                               |   |
| Cash                  Flows                  Used in Investing Activities               |                                               |   |
|  Purchase                  of                  equipment                           | (139,339)                                          | (51,274) |
|                                                                                    |                                                    |   |
| Cash                  Flows                  From Financing Activities                  |                                               |   |
|  Proceeds                  from exercise of warrants                  for stock    | 23,000                                             | - |
|  Proceeds                  from sale of preferred                  stock           | 180,000                                            | 45,000 |
|  Proceeds                  from related party                  advances            | -                                                  | - |
|  Repayments                  on related party                  advances            | (99,511)                                           | - |
|  Repayments                  of capital lease                  obligations         | -                                                  | (7,714) |
|  Proceeds                  from notes                  payable                     | 1,239,495                                          | 154,127 |
|  Repayments                  on notes                  payable                     | (1,264,733)                                        | (29,274) |
|                                                                                    |                                               |   |
|  Net                  Cash Provided by Financing                  Activities       | 78,251                                             | 162,139 |
|                                                                                    |                                               |   |
| Currency                  translation adjustment                                        | (170,395)                                          | 96,436 |
|                                                                                    |                                                    |   |
|                                                                                    |                                               |   |
| Net                  change in                  cash                                    | (62,845)                                           | (49,477) |
| Cash                  at                  beginning of period                           | 65,109                                             | 67,102 |
|                                                                                    |                                               |   |
|                                                                                    |                                               |   |
| Cash                  at end                  of period                                 | $   2,264                           | $                    17,625 |
|                                                                                    |                                               |   |
|                                                                                    |                                               |   |
| Cash                  paid                  during the period for:                      |                                               |   |
|                                                                                    |                                               |   |
|  Interest                                                                          | $                    10,262              | $                    25,967 |
|  Income                  Taxes                                                     | -                                                  | - |
|                                                                                    |                                               |   |
| Non-cash                  investing and financing activities:                           |                                               |   |
|                                                                                    |                                               |   |
|  Conversion                  of common shares to                  preferred shares | -                                                  | 1,374 |
|  Conversion                  of stock payable to                  preferred shares | 50,000                                             | - |

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**MEDIQUIP      HOLDINGS, INC.**

**NOTES      TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE      1 - BASIS OF PRESENTATION**

**NOTE      2 - STOCK-BASED COMPENSATION**

*      Share-Based Payment,*
*      Accounting for Stock Issued to Employees,*

**NOTE      3 - EXERCISE OF WARRANTS**

**NOTE      4 - CONVERTIBLE PREFERRED STOCK**

| Traunch | Shares | Amount                   | Closing                Date      |
|---------|--------|--------------------------|----------------------------------|
|    |   |                     |                             |
| 1       | 3,600  | $                45,000  | May                2, 2005       |
| 2       | 4,000  | 50,000                   | December                19, 2005 |
| 3       | 4,800  | 60,000                   | February                7, 2006  |
| 4       | 9,600  | 120,000                  | May                3, 2006       |
|    |   |                     |                             |
| Total   | 22,000 | $                275,000 |                             |
|    |   |                     |                             |

**NOTE      6 - WESTMERIA RECRUITMENT**

|                                        |   | Three                Months Ended |     | Six                Months Ended |   |
|---------------------------------------------|--------|-----------------------------------|----------|---------------------------------|--------|
|                                        |   | 2005                              |     | 2005                            |   | 2006 |   | 2005 |   |
|                                        |   |                              |     |                            |   |   |   |   |   |
| Revenue                                     |   | $                                 | 755,491  |                            | $      | 529,638 |   | $ | 1,328,353 |   | $ | 1,065,191 |   |
| Cost                of recruitment services |   |                              | (612,402 | )                               |   | (482,782 | ) |   | (1,088,730 | ) |   | (895,161 | ) |
| General                and administrative   |   |                              | (140,722 | )                               |   | (107,202 | ) |   | (238,593 | ) |   | (213,648 | ) |
|                                        |   |                              |     |                            |   |   |   |   |   |   |   |  |   |
|                                        |   |                              |     |                            |   |   |   |   |   |   |   |   |   |
| Net                income / (loss)          |   |                              | 2,367    |                            |   | (60,346 | ) |   | 1,030 |   |   | (43,618 | ) |
|                                        |   |                              |     |                            |   |   |   |   |   |   |   |   |   |
|                                        |   |                              |     |                            |   |   |   |   |   |   |   |   |   |
| MediQuip’s                equity in   |   |                              |     |                            |   |   |   |   |   |   |   |   |   |
| Net                income / (loss)          |   | $                                 | -        |                            | $      | (60,346 | ) | $ | - |   | $ | (43,618 | ) |
|                                        |   |                              |     |                            |   |   |   |   |   |   |   | \ |   |
|                                        |   |                              |     |                            |   |   |   |   |   |   |   |   |   |

**NOTE      7 - SUBSEQUENT EVENTS**

|                                       | Three                months ended         | Three                months ended               |
|--------------------------------------------|-------------------------------------------|-------------------------------------------------|
|                                       | July                31, 2006              | July                31, 2005                    |
|                                       |                                      |                                            |
|                                       |                                      |                                            |
| Equipment                rentals and sales | $146,556                  24.8% | $159,486                   25.8% |
|                                       |                                      |                                            |

|                                       | Six                months endedJuly                31, 2006 | Six                months endedJuly                31, 2005 |
|--------------------------------------------|-------------------------------------------------------------|-------------------------------------------------------------|
|                                       |
|                                       |                                                        |                                                        |
|                                       |                                                        |                                                        |
| Equipment                rentals and sales | $236,817                  22.7%                   | $287,490                  27.3%                   |

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| (a)                Exhibits | Item                Description                                                                                                                                     |
|-----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1                        | Certification                Pursuant to Section 302 of the Sarbanes-Oxley Act of                2002                                                               |
|                        |                                                                                                                                                                |
| 31.2                        | Certification                Pursuant to Section 302 of the Sarbanes-Oxley Act of                2002                                                               |
|                        |                                                                                                                                                                |
| 32                          | Certification                Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002 |

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