| (Mark      One) |
|-----------------|
|            |   |
| x               | QUARTERLY      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 FOR      THE QUARTERLY PERIOD ENDED JUNE 30, 2008 |
|            |   |
| o               | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT FOR      THE TRANSITION PERIOD FROM __________ TO __________ COMMISSION      FILE NUMBER ________________ |

| Nevada(State      or other jurisdiction of incorporation or organization) | 88-0476779(I.R.S.      Employer Identification No.) |
|---------------------------------------------------------------------------|-----------------------------------------------------|

|   | Large accelerated      filer o                    | Accelerated      filer      o    |   |
|--------|-----------------------------------------------------------------------|----------------------------------|--------|
|   | Non-accelerated      filer      o       | Smaller reporting      company x |   |
|   |                                                                  |                             |   |

----

|                                                                                                             |   | Page   |   |
|------------------------------------------------------------------------------------------------------------------|--------|--------|--------|
| PART      I - FINANCIAL INFORMATION                                                                              |   |
|                                                                                                             |   |   |   |
| Item      1.       Financial Statements                                                 |   |   | F-1    |   |
| Item      2.       Management’s Discussion and Analysis or      Plan of Operation |   |   | F-9    |   |
| Item      3.       Quantitative and Qualitative Disclosures      About Market Risk      |   |   | F-10   |   |
| Item      4.        Controls and      Procedures                         |   |   | F-10   |   |
|                                                                                                             |   |   |   |   |
| PART      II - OTHER INFORMATION                                                                                 |
|                                                                                                             |   |   |   |   |
| Item      1.       Legal Proceedings                                                    |   |   | 3      |   |
| Item      2.       Unregistered Sales of Equity Securities      and Use of Proceeds     |   |   | 3      |   |
| Item      3.       Defaults Upon Senior      Securities                                 |   |   | 3      |   |
| Item      4.       Submission of Matters to a Vote of      Security Holders             |   |   | 3      |   |
| Item      5.       Other Information                                                    |   |   | 3      |   |
| Item      6.       Exhibits                                                             |   |   | 3      |   |
|  SIGNATURES                                                                                                 |   |   | 4      |   |

----

| ASSETS                                                                               |   |   |          |    |   |              |       |
|--------------------------------------------------------------------------------------|--------|--------|---------------|---------|--------|-------------------|------------|
|                                                                                 |   |   | June      30, |    |   | December      31, |       |
|                                                                                 |   |   | 2008          |    |   | 2007              |       |
|                                                                                 |   |   | (unaudited)   |    |   |              |       |
| Current      Assets                                                                  |   |   |          |    |   |              |       |
|  Cash                                                                           |   |   | $             | 1,133   |   |              | $          | 2,191 |   |
| Receivable                                                                           |   |   |          | 9,192   |   |              |       | 5,323 |   |
| Prepaid      Expense                                                                 |   |   |          | 11,556  |   |              |       | 5,056 |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Total      Current Assets                                                            |   |   |          | 21,882  |   |              |       | 12,570 |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Fixed      Assets                                                                    |   |   |          |    |   |              |       |   |   |
| Furniture,      Fixture & Equipment (Net)                                        |   |   | 14,110        |    |   |              | 15,910     |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Other  Assets                                                              |   |   |          |    |   |              |       |   |   |
| Deposit                                                                              |   |   |          | 9,127   |   |              |       | 9,127 |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| TOTAL      ASSETS                                                                    |   |   | $             | 45,118  |   |              | $          | 37,607 |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| LIABILITIES AND      STOCKHOLDERS' (DEFICIT)                                         |   |   |          |    |   |              |       |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Current      Liabilities                                                             |   |   |          |    |   |              |       |   |   |
| Accounts      Payable                                                                |   |   | $             | 161,578 |   |              | $          | 136,843 |   |
| Accrued      Interest                                                                |   |   |          | 54,254  |   |              |       | 38,774 |   |
| Accrued      Expenses                                                                |   |   | 135,445       |    |   |              | 51,376     |   |
| Stock      Deposits                                                                  |   |   |          | 56,000  |   |              |       | - |   |
| Note      Payable- Related Party                                                     |   |   | 303,510       |    |   |              | 277,060    |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Total      Current Liabilities                                                       |   |   | 710,787       |    |   |              | 504,053    |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Total      Liabilities                                                               |   |   |          | 710,787 |   |              |       | 504,053 |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Commitments                                                                          |   |   |          | -       |   |              |       | - |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Stockholders'      (Deficit)                                                         |   |   |          |    |   |              |       |   |   |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Common      stock – June 30, 2008: 300,000,000 Shares Authorized               |   |   |          |    |   |              |       |   |
|     at      $0.001 Par Value; 30,167,000 Issued and Outstanding; |   |   | 30,167        |    |   |              | 30,167     |   |
| Additional      Paid-In-Capital                                                      |   |   | 6,068,239     |    |   |              | 6,068,239  |   |
| Deficit      accumulated during the Development Stage                                |   |   | (6,764,075    | )       |   |              | (6,564,852 | ) |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| Total      Stockholders' (Deficit)                                                   |   |   | (665,669      | )       |   |              | (466,446   | ) |
|                                                                                 |   |   |          |    |   |              |       |   |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS' (DEFICIT)                                   |   | $      | 45,118        |    |   | $                 | 37,607     |   |

|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   | Accumulated      from |       |
|-------------------------------------------------|--------|-------------------------|------------|--------|-----------------------|--------|------------|--------------------------|--------|--------|------------|--------|--------|-----------------------|------------|
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   | July      12, 2005    |       |
|                                            |   | Three      Months Ended |       |   | Six      Months Ended |   |       | (inception)      through |   |
|                                            |   | June      30,           |       |   |                  |   |       | June      30,            |   |   |       |   |   | June      30,         |       |
|                                            |   | 2008                    |       |   | 2007                  |   |       | 2008                     |   |   | 2007       |   |   | 2008                  |       |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |
| Revenues,      Net                              |   | $                       | -          |   |                  | $      | -          |                     |   | $      | -          |   |   | $                     | -          |   |   | $ | - |   |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Operating      Expenses                         |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Salaries                                        |   |                    | 82,022     |   |                  |   | 12,691     |                     |   |   | 95,016     |   |   |                  | 23,882     |   |   |   | 279,549 |   |
| Compensation      Cost                          |   |                    | -          |   |                  |   | -          |                     |   |   | -          |   |   |                  | 90,059     |   |   |   | 5,632,306 |   |
| Professional      Fees                          |   |                    | 37,867     |   |                  |   | 23,532     |                     |   |   | 48,306     |   |   |                  | 59,399     |   |   |   | 364,848 |   |
| General      & Administrative               |   |                    | 33,004     |   |                  |   | 12,636     |                     |   |   | 71,773     |   |   |                  | 29,616     |   |   |   | 471,059 |   |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Total      Operating Expenses                   |   |                    | 152,893    |   |                  |   | 48,859     |                     |   |   | 215,095    |   |   |                  | 202,956    |   |   |   | 6,747,762 |   |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Loss      From Operations                       |   |                    | (152,893   | )      |                  |   | (48,859    | )                        |   |   | (215,095   | )      |   |                  | (202,956   | ) |   |   | (6,747,762 | ) |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Other      Income (Expense)                     |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Other      Income                               |   |                    | 19,670     |   |                  |   |       |                     |   |   | 32,393     |   |   |                  |       |   |   |   | 46,244 |   |
| Interest      Expense                           |   |                    | (8,499     | )      |                  |   | (7,801     | )                        |   |   | (16,521    | )      |   |                  | (14,400    | ) |   |   | (62,557 | ) |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Total      Other Income (Expense)               |   |                    | 11,171     |   |                  |   | (7,801     | )                        |   |   | 15,872     |   |   |                  | (14,400    | ) |   |   | (16,313 | ) |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Loss      Before Income Taxes                   |   |                    | (141,723   | )      |                  |   | (56,660    | )                        |   |   | (199,223   | )      |   |                  | (217,356   | ) |   |   | (6,764,075 | ) |
| Income      Tax Expense                         |   |                    | -          |   |                  |   | -          |                     |   |   |       |   |   |                  | -          |   |   |   |   |   |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Net      Loss                                   |   | $                       | (141,723   | )      |                  | $      | (56,660    | )                        |   | $      | (199,223   | )      |   | $                     | (217,356   | ) |   | $ | (6,764,075 | ) |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Basic      andfully diluted earnings per share: |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |
| Loss      per share                             |   | $                       |       |   |                  | $      | 0.00  |                     |   | $      | 0.01  |   |   | $                     | 0.01  |   |   |   |   |   |
|                                            |   |                    |       |   |                  |   |       |                     |   |   |       |   |   |                  |       |   |   |   |   |   |
| Weighted      average shares outstanding        |   |                    | 30,167,000 |   |                  |   | 30,109,244 |                     |   |   | 30,167,000 |   |   |                  | 30,059,067 |   |   |   |   |   |

----

|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   | Total         |       |
|----------------------------------------------------|--------|-------------------|------------|--------|--------|--------|--------|----------------------|--------|--------|-------------|--------|--------|---------------|------------|
|                                               |   | Common      Stock |       |   |   |   |   | Paid      in Capital |   |   | Accumulated |   |   | Stockholders' |       |
|                                               |   | Shares            |       |   | Amount |   |   |                 |   |   | Deficit     |   |   | Equity        |       |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |
| Balance,      July 12, 2005                        |   |              | -          |   |   | $      | -      |                 |   | $      | -           |   |   | $             | -          |   |   | $ | - |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Shares      issued for Founders                    |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| @  $0.01      per      share             |   |              | 21,563,483 |   |   |   | 21,564 |                 |   |   | (13,064     | )      |   |          |       |   |   |   | 8,500 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Shares      issued for cash                        |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| @  $0.79      per      share             |   |              | 253,688    |   |   |   | 254    |                 |   |   | 199,746     |   |   |          |       |   |   |   | 200,000 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Loss      for the period ended                     |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| December      31,2005                              |   |              |       |   |   |   |   |                 |   |   |        |   |   |          | (182,947   | ) |   |   | (182,947 | ) |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Balance      December 31, 2005                     |   |              | 21,817,171 |   |   |   | 21,818 |                 |   |   | 186,682     |   |   |          | (182,947   | ) |   |   | 25,553 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Shares      issued for cash                        |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| @       $0.79      per      share             |   |              | 88,791     |   |   |   | 88     |                 |   |   | 69,912      |   |   |          |       |   |   |   | 70,000 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Shares      issued for services                    |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| @       $0.71 per      share                  |   |              | 7,805,981  |   |   |   | 7,806  |                 |   |   | 5,534,441   |   |   |          |       |   |   |   | 5,542,247 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Loss      for the year ended                       |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| December      31,2006                              |   |              |       |   |   |   |   |                 |   |   |        |   |   |          | (5,979,396 | ) |   |   | (5,979,396 | ) |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Balance      December 31, 2006                     |   |              | 29,711,943 |   |   |   | 29,712 |                 |   |   | 5,791,035   |   |   |          | (6,162,343 | ) |   |   | (341,596 | ) |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Shares      issued for cash                        |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| @  $  0.79      per      share |   |              | 152,213    |   |   |   | 152    |                 |   |   | 119,848     |   |   |          |       |   |   |   | 120,000 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Shares      issued for services                    |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| @      $  0.71      per      share       |   |              | 126,844    |   |   |   | 127    |                 |   |   | 89,932      |   |   |          |       |   |   |   | 90,059 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Shares      issued pursuant to                     |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| a      Private Placement for cash                  |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| @      $  0.10      per      share       |   |              | 76,000     |   |   |   | 76     |                 |   |   | 7,524       |   |   |          |       |   |   |   | 7,600 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Contributed      Capital                           |   |              | -          |   |   |   | -      |                 |   |   | 10,000      |   |   |          |       |   |   |   | 10,000 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Shares      issued for cash                        |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| @      $  0.50      per      share       |   |              | 100,000    |   |   |   | 100    |                 |   |   | 49,900      |   |   |          |       |   |   |   | 50,000 |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Loss      for the year ended                       |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| December      31, 2007                             |   |              |       |   |   |   |   |                 |   |   |        |   |   |          | (402,509   | ) |   |   | (402,509 | ) |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Balance      December 31, 2007                     |   |              | 30,167,000 |   |   | $      | 30,167 |                 |   | $      | 6,068,239   |   |   | $             | (6,564,852 | ) |   | $ | (466,446 | ) |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Loss      for Six Months ended                     |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| June      30, 2008                                 |   |              |       |   |   |   |   |                 |   |   |        |   |   |          | (199,223   | ) |   |   | (199,223 | ) |
|                                               |   |              |       |   |   |   |   |                 |   |   |        |   |   |          |       |   |   |   |   |   |
| Balance      June 30, 2008 (unaudited)             |   |              | 30,167,000 |   |   | $      | 30,167 |                 |   | $      | 6,068,239   |   |   | $             | (6,764,075 | ) |   | $ | (665,669 | ) |

----

|                                                  |   |   |                  |   |   |   |     |   | Accumulated      from    |   |
|-------------------------------------------------------|--------|--------|-----------------------|--------|--------|--------|----------|--------|--------------------------|--------|
|                                                  |   |   |                  |   |   |   |     |   | July      12, 2005       |   |
|                                                  |   |   | Six      Months Ended |   |   |   |     |   | (inception)      through |   |
|                                                  |   |   | June      30,         |   |   |   |     |   | June      30,            |   |
|                                                  |   |   | 2008                  |   |   | 2007   |     |   | 2008                     |   |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |
| Cash      Flows from Operating Activities:            |   |   |                  |   |   |   |     |   |                     |
| Net      (Loss)                                       |   | $      | (199,223              | )      |   | $      | (217,356 | )      |                     | $      | (6,764,075 | ) |
| Common      stock issued for services                 |   |   |                  | -      |   |   |     | 90,059 |                     |   |   | 5,640,806 |   |
| Depreciation      & Amortization                  |   |   |                  | 1,800  |   |   |     | 1,816  |                     |   |   | 8,827 |   |
| Changes      in Operating Assets and Liabilities:     |   |   |                  |   |   |   |     |   |                     |   |   |   |
| (Increase)      Decrease in Accounts Receivable       |   |   | (3,870                | )      |   |   | -        |   |                     |   | (9,193 | ) |
| (Increase)      Decrease in Prepaid Expense           |   |   | (6,500                | )      |   |   | (10,420  | )      |                     |   | (11,556 | ) |
| Increase      (Decrease) in Accounts Payable          |   |   | 24,735                |   |   |   | (46,464  | )      |                     |   | 161,578 |   |
| Increase      (Decrease) in Accrued Interest          |   |   | 15,480                |   |   |   | 12,326   |   |                     |   | 54,254 |   |
| Increase      (Decrease) in Accrued Liabilities       |   |   | 84,069                |   |   |   | 1,000    |   |                     |   | 135,445 |   |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |   |
| Net      Cash (Used) by Operating Activities          |   |   | (83,509               | )      |   |   | (169,039 | )      |                     |   | (783,914 | ) |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |   |
| Cash      Flows from Investing Activities:            |   |   |                  |   |   |   |     |   |                     |   |   |   |
| Deposits                                              |   |   | -                     |   |   |   | -        |   |                     |   | (9,127 | ) |
| Purchase      of Property and Equipment               |   |   | -                     |   |   |   | -        |   |                     |   | (22,937 | ) |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |   |
| Net      Cash (Used) by Investing Activities          |   |   | -                     |   |   |   | -        |   |                     |   | (32,064 | ) |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |   |
| Cash      Flows from Financing Activities:            |   |   |                  |   |   |   |     |   |                     |   |   |   |
| Proceeds      from Stock Deposits                     |   |   | 56,000                |   |   |   |     |   |                     |   | 56,000 |   |
| Proceeds      from Stock Issuances                    |   |   | -                     |   |   |   | 187,600  |   |                     |   | 447,600 |   |
| Capital      Contributed                              |   |   | -                     |   |   |   | -        |   |                     |   | 10,000 |   |
| Proceeds      from Notes Payable - Related Party      |   |   | 26,450                |   |   |   | 3,750    |   |                     |   | 346,703 |   |
| Repayment      of Notes Payable - Related Party       |   |   | -                     |   |   |   | (21,193  | )      |                     |   | (43,193 | ) |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |   |
| Net      Cash Provided by Financing Activities        |   |   | 82,450                |   |   |   | 170,157  |   |                     |   | 817,110 |   |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |   |
| Increase      (Decrease) in Cash                      |   |   | (1,058                | )      |   |   | 1,118    |   |                     |   | 1,134 |   |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |   |
| Cash      and Cash Equivalents at Beginning of Period |   |   | 2,191                 |   |   |   | 225      |   |                     |   | - |   |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |   |
| Cash      and Cash Equivalents at End of Period       |   | $      | 1,133                 |   |   | $      | 1,343    |   |                     | $      | 1,134 |   |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |
| Cash      Paid for:                                   |   |   |                  |   |   |   |     |   |                     |   |   |   |
| Interest                                              |   | $      | -                     |   |   | $      | 2,067    |   |                     | $      | 6,813 |   |
| Income      Taxes                                     |   | $      | -                     |   |   | $      | -        |   |                     | $      | - |   |
|                                                  |   |   |                  |   |   |   |     |   |                     |   |   |   |
| Non      cash Financing Activities:                   |   |   |                  |   |   |   |     |   |                     |   |   |   |
| Common      Stock issued for services                 |   | $      | -                     |   |   | $      | 90,059   |   |                     | $      | 5,640,806 |   |
| Common      stock      deposit                        |   | $      | 56,000                |   |   |   |     |   |                     | $      | 56,000 |   |

----

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| Basic      earnings per share: |   | June 30,2008 |       |   | June 30,2007 |   |
|--------------------------------|--------|--------------|------------|--------|--------------|--------|
| Net      loss                  |   |         | (199,223   | )      |         | $      | (217,356 | ) |
|                           |   |         |       |   |         |   |   |   |
| Weighted      average shares   |   |         | 30,167,000 |   |         |   | 30,059,067 |   |
|                           |   |         |       |   |         |   |   |   |
| Loss      per share            |   | $            | (.00       | )      |         | $      | (.01 | ) |

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TimeShareLoans.com, Inc. was incorporated on July 12, 2005 toprovide financing for consumers wishing to purchase and/or refinance vacationownership intervals in the secondary, or resale market, or elsewhere. TimeshareHoldings Inc. was incorporated in Nevada on January 30, 2007 with the intent ofmerging with TimeShareLoans.com, Inc.

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We are not a party to any pending legalproceeding, nor is our property the subject of a pending legal proceeding, thatis not in the ordinary course of business or otherwise material to the financialcondition of our business. None of our directors, officers or affiliates isinvolved in a proceeding adverse to our business or has a material interestadverse to our business. 

Not applicable.

  

Item5.   OtherInformation.

Exhibits.

| Exhibit      No. | Description      of Exhibit                                                                                                                                                                                                                                               |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  2.1        | Agreement      and Plan of Reorganization between Timeshare Holdings Inc. and      TimeShareLoans.com, dated March 9, 2007 (Incorporated by reference to Form      SB-2 (File No. 333-145409), filed with the Securities and Exchange      Commission on August 13, 2007) |
| 3.1              | Articles      of Incorporation (Incorporated by reference to Form SB-2 (File No.      333-145409), filed with the Securities and Exchange Commission on August      13, 2007)                                                                                             |
| 3.2              | By-laws      (Incorporated by reference to Form SB-2 (File No. 333-145409), filed with      the Securities and Exchange Commission on August 13,  2007)                                                                                                                   |
| 10.1             | Service      Agreement entered into with LEA Management Group, date December 6, 2006      (Incorporated by reference to Form SB-2 (File No. 333-145409), filed with      the Securities and Exchange Commission on August 13,  2007)                                      |
| 10.2             | Service      Agreement entered into with National Mortgage Lending Inc., dated February      1, 2006 (Incorporated by reference to Form SB-2 (File No. 333-145409),      filed with the Securities and Exchange Commission on August 13,      2007)                       |
| 10.4             | Subscription      Agreements (Incorporated by reference to Form SB-2 (File No. 333-145409),      filed with the Securities and Exchange Commission on August 13,      2007)                                                                                               |
| 10.5             | Escrow      Agreement to be filed by amendment                                                                                                                                                                                                                            |
| 10.6             | Waiver      Agreement, dated July 20, 2007 (Incorporated by reference to Form SB-2      (File No. 333-145409), filed with the Securities and Exchange Commission      on August 13, 2007)                                                                                 |
| 21.1             | List      of Subsidiaries of the Company (Incorporated by reference to Form SB-2      (File No. 333-145409), filed with the Securities and Exchange Commission      on August 13, 2007)                                                                                   |
| 31.1             | Certification      by Chief Executive Officer, required by Rule 13a-14(a) or Rule 15d-14(a)      of the Exchange Act.                                                                                                                                                     |
|             |                                                                                                                                                                                                                                                                      |
| 31.2             | Certification      by Chief Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a)      of the Exchange Act.                                                                                                                                                     |
|             |                                                                                                                                                                                                                                                                      |
| 32.1             | Certification      by Chief Executive Officer, required by Rule 13a-14(b) or Rule 15d-14(b)      of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the      United States Code.                                                                           |
|             |                                                                                                                                                                                                                                                                      |
| 32.2             | Certification      by Chief Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b)      of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the      United States Code.                                                                           |

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|                | TIMESHARE      HOLDINGS, INC. |                         |
|---------------------|-------------------------------|------------------------------|
|                |                          |                         |   |
| August      8, 2008 | By:                           | /s/ Paul      Thompson  |   |
|                |                          | Paul      Thompson           |   |
|                |                          | Chief      Executive Officer |   |
|                |                          |                         |   |

|                |   |                                                  |
|---------------------|--------|-------------------------------------------------------|
|                |   |                                                  |   |
| August      8, 2008 | By:    | /s/ Frederick      Conte                         |   |
|                |   | Frederick      Conte                                  |   |
|                |   | Chief      Financial Officer, Chief AccountingOfficer |   |
|                |   |                                                  |   |