UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 WASHINGTON,
D.C. 20549
 _______________
  FORM
10-Q
 _______________
  x
              QUARTERLY
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934
  For
the quarterly period ended May 31, 2008
   o
              TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934
 
 For the transition period from
______to______.
  TRIP
TECH, INC.
 (Exact
name of registrant as specified in Charter
  TEXAS
              
              333-142908
              
              20-5933927(State
      or other jurisdiction of
                incorporation
      or organization)
              
              (Commission
      File No.)
              
              (IRS
      Employee Identification No.)
 
 12841 Jones Road,
Suite 208, Houston, Texas  77070
 (Address
of Principal Executive Offices)
 _______________
  (614)
306-2938
 (Issuer
Telephone number)
 _______________
 
 
 (Former
Name or Former Address if Changed Since Last Report)
  Check
whether the issuer (1) has filed all reports required to be filed by Section 13
or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter
period that the issuer was required to file such reports), and (2)has been
subject to such filing requirements for the past 90 days. Yes x No£
  Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller reporting company filer.
 See definition of “accelerated filer” and “large accelerated filer” in
Rule 12b-2 of the Exchange Act (Check one):
  Large
      Accelerated Filer o
                Accelerated
      Filer o
                Non-Accelerated
      Filer o
                Smaller
      Reporting Company x
  Indicate
by check mark whether the registrant is a shell company as defined in Rule 12b-2
of the Exchange Act. Yes x No o
  State the
number of shares outstanding of each of the issuer’s classes of common equity,
as of asof July 7,
2008:  10,190,000 shares of Common Stock.
 
  
 
  TRIP
TECH, INC.
 
 FORM
10-Q
  May
31, 2008
  INDEX
  PART
I-- FINANCIAL INFORMATION
   
 Item
      1.
              Financial
      StatementsItem
      2.
              Management’s
      Discussion and AnalysisItem
      3
              Quantitative
      and Qualitative Disclosures About Market RiskItem
      4T.
              Control
      and Procedures
   PART
II-- OTHER INFORMATION
  Item
      1
              Legal
      ProceedingsItem
      1A
              Risk
      FactorsItem
      2.
              Unregistered
      Sales of Equity Securities and Use of ProceedsItem
      3.
              Defaults
      Upon Senior SecuritiesItem
      4.
              Submission
      of Matters to a Vote of Security HoldersItem
      5.
              Other
      InformationItem
      6.
              Exhibits
 
 
 SIGNATURE
   2
   PART I –
FINANCIAL INFORMATION
 Item 1. Financial
Information
  
 TRIP
      TECH, INC.
                (A
      DEVELOPMENT STAGE COMPANY)BALANCE
      SHEETS(Unaudited)
 
 May
      31,
                2008
              
              
              February
      29, 2008ASSETSCurrent
      assets:Cash
              
              $
              32,754
              
              
              $
              40,963TOTAL
      ASSETS
              
              $
              32,754
              
              
              $
              40,963LIABILITIES
      AND STOCKHOLDERS’ EQUITYTotal
      Liabilities
              
              $
              --
              
              
              $
              --STOCKHOLDERS’
      EQUITY:Preferred
      stock, $0.001 par value, 20 million shares authorized, zero 0 issued and
      outstanding
              
              
              --
              
              
              
              --Common
      stock, $0.001 par value, 120 million shares authorized, 10,190,000 shares
      issued and outstanding
              
              
              10,190
              
              
              
              10,190Additional
      paid in capital
              
              
              84,560
              
              
              
              84,560Deficit
      accumulated during the development stage
              
              
              (61,996
              )
              
              
              (53,787
              )Total
      stockholders' equity
              
              
              32,754
              
              
              
              40,963TOTAL
      LIABILITIES AND STOCKHOLDERS' EQUITY
              
              $
              32,754
              
              
              $
              40,963
 
 See
accompanying notes to financial statements.
 
  3
    
 TRIP
      TECH, INC.
                (A
      DEVELOPMENT STAGE COMPANY)STATEMENTS
      OF OPERATIONSFor
      the three months ended May 31, 2008 and 2007
                and
      the Period from November 17, 2006 (Inception)
                Through
      May 31, 2008
                (Unaudited)
   Three
      months ended May 31,
                
                
                Inception
      to2008
                
                
                2007
                
                
                May
      31, 2008Revenues
                
                $
                --
                
                
                $
                --
                
                
                $
                59Selling,
      general, and administrative expenses
                
                
                8,209
                
                
                
                11,250
                
                
                
                62,055Net
      loss
                
                $
                (8,209
                )
                
                $
                (11,250
                )
                
                $
                (61,996
                )Net
      loss per shareBasic
      and diluted
                
                $
                (0.00
                )
                
                $
                (0.00
                )
                
                
                n/aWeighted
      average shares outstandingBasic
      and diluted
                
                
                10,190,000
                
                
                
                10,190,000
                
                
                
                n/a
    See
accompanying notes to financial statements.
    4
 
 
 TRIP
      TECH, INC.
                (A
      DEVELOPMENT STAGE COMPANY)STATEMENTS
      OF CASH FLOWFor
      the three months ended May 31, 2008 and 2007,
                and
      the Period from November 17, 2006 (Inception) through May 31,
      2008
                (Unaudited)
 
 Three
      months ended May 31, 2008
              
              
              Three
      months ended May 31, 2007
              
              
              Inception
      to
                May
      31, 2008Cash
      flow from operating activities:Net
      loss
              
              $
              (8,209
              )
              
              $
              (11,250
              )
              
              $
              (61,996
              )Adjustments
      to reconcile net loss to net cash used in operating
      activities:
                Changes
      in:Accounts
      payable
              
              
              
              
              
              
              1,800
              
              
              
              -Net
      cash used in operating activities
              
              
              (8,209
              )
              
              
              (9,450
              )
              
              
              (61,996
              )Cash
      flow from financing activitiesProceeds
      from sale of common stock
              
              
              --
              
              
              
              94,750
              
              
              
              94,750Net
      change in cash
              
              
              (8,209
              )
              
              
              9,450
              
              
              
              32,754Cash,
      beginning of period
              
              
              40,963
              
              
              
              76,428
              
              
              
              --Cash,
      end of period
              
              $
              32,754
              
              
              $
              66,978
              
              
              $
              32,754Supplemental
      Disclosures:Cash
      paid for interest
              
              $
              --
              
              
              $
              --
              
              
              $
              --Cash
      paid for taxes
              
              $
              --
              
              
              $
              --
              
              
              $
              --
 
 See
accompanying notes to financial statements.
 
 5
 
 TRIP
TECH, INC.
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
FINANCIAL STATEMENTS
 
 
 NOTE
1 – BASIS OF PRESENTATION
 
 The
accompanying unaudited interim financial statements of Trip Tech, Inc. have been
prepared in accordance with accounting principles generally accepted in the
United States of America and the rules of the Securities and Exchange
Commission, and should be read in conjunction with the audited financial
statements and notes thereto contained in Trip Tech’s Annual Report filed with
the SEC on form 10KSB. In the opinion of management, all adjustments, consisting
of normal recurring adjustments, necessary for a fair presentation of financial
position and the results of operations for the interim periods presented have
been reflected herein. The results of operations for the interim periods are not
necessarily indicative of the results to be expected for the full year. Notes to
the financial statements which would substantially duplicate the disclosure
contained in the audited financial statements for the fiscal 2008 as
reported in the form 10KSB have been omitted.
         6
  ITEM
2.  MANAGEMENT'S DISCUSSION AND ANALYSIS
  The
following information specifies certain forward-looking statements of management
of the Company.  Forward-looking statements are statements that estimate
the happening of future events are not based on historical fact. 
Forward-looking statements may be identified by the use of forward-looking
terminology such as, “may,” “shall,” “could,” “expect,” “estimate,”
“anticipate,” “predict,” “probable,” “possible,” “should,” “continue,” or
similar terms, variations of those terms or the negative of those terms. 
The forward-looking statements specified in the following information have been
complied by our management and considered by management to be reasonable. 
Our future operating results, however, are impossible to predict and no
representation, guaranty or warranty is to be inferred from those
forward-looking statements.
  The
assumptions used for purposes of the forward-looking statements specified in the
following information represent estimates of future events and are subject to
uncertainty as to possible changes in economic, legislative, industry and other
circumstances.  As a result, the identification and interpretation of data
and other information and their use in developing and selecting assumptions from
and among reasonable alternatives require the exercise of judgment.  To the
extent that the assumed events do not occur, the outcome may vary substantially
from anticipated or projected results, and accordingly, no opinion is expressed
on the achievability of these forward-looking statements.  No assurance can
be given that any of the assumptions relating to the forward-looking statements
specified in the following information are accurate, and we assume no obligation
to update any such forward-looking statements.
 
 Overview
 
 We were
incorporated in Texas on November 17, 2006 to enter the on line travel industry
and establish a large scale, full service, on line travel company.
 
 We are a
development stage internet-based travel company.  Our development
period is planned to be executed in three stages.  We are currently in
our initial stage where we are operating with a functional “branded” travel
website
 
 Following
a successful completion of Stage I and contingent on a proposed capital raise to
finance Stage II, we plan to expand our operation and business by acquiring an
ARC-based travel agency, adding a travel-experienced management team with
existing relationships with global travel providers, and upgrading our
technology platform geared to aggregating and distributing travel products on a
large scale basis.
 
 Following
the successful completion of Stage II, and contingent on raising the required
capital, in Stage III, we plan to concentrate our resources on creating and
expanding strategic relationships with travel suppliers to offer our own branded
products, as well as marketing our own travel website solution to other
agencies.
 
 Gene
Thompson, our founding principal and sole officer and director, has an
operational background in the hospitality industry, and he has done extensive
research on the travel industry and has gained working knowledge in travel
agency operations in the year prior to developing Trip Tech.
    7
  Plan
of Operation
  We are
presently in our first stage of development.  Since our inception on
November 2006, we have established our corporate existence as a publicly held
corporation, raised founder capital, and designed / installed a functional
“branded” travel website. Our initial travel website, www.triptechfares.com, was
officially launched on May 10, 2007.
  It offers
air, hotel, and car fares to other travel agencies and directly to the public
through a transparent interface with a tier I travel consolidator (Fare Buzz)
that provides the product and booking engine. Also, cruises, vacation packages,
tours, and travel promotions are offered through our affiliation with Passport
Online and its electronic leisure travel research, shopping, and marketing
program, “VacationPort”.
  WebQuarter
Design, our proposed web development partner to develop our website solution for
sale in a planned later development stage, was contracted to design and install
our initial branded travel website and interface with Fare Buzz’s booking
engine. Work began on the project in early January 2007, and it was
completed on May 10, 2007. The cost of the website was a fixed fee of
$5,000, with $ 3,000 paid on the signing of the agreement, and the balance of
$2,000 paid at product launch. The website is copyrighted, and the site
along with all related materials are the property of Trip
Tech.
  This
phase of our development is designed to attract a modest level of business aimed
to hopefully reach a breakeven and to create customer awareness of Trip Tech as
a branded on line travel company. The development budget for the design,
installation, and operation of our initial website for the first twelve (12)
months of operation was approximately $ 30,000, which was provided by our
founding principal and shareholders. A breakdown of the estimated development
costs for our initial website design and installation, and 12 months of
operation are as follows:
  ·
              Website
      hosting and support
              
              
              3,000·
              Website
      marketing and promotion
              
              
              7,500·
              Advertising
              
              
              5,000·
              Miscellaneous
              
              
              2,500·
              Legal
      & accounting costs
              
              
              12,000Total
              
              $
              30,000
  Under
this revenue model, we are operating as an agent for our
consolidator, offering fares to other agencies and the public via our
initial travel website. Revenues for air, hotels, and cars are derived in the
form of commissions and markups on our Consolidator’s
fares.   Revenues on cruises, tours, and vacation packages are
earned in commissions directly from our selected travel suppliers. Revenues are
expected to be minimal as there are no marketing funds to draw users to the site
during this stage of operation.
 
 Markups
are determined strictly by us, and we may change our markups from time to time
to adjust to market conditions. In an attempt to maximize revenues, we feature
higher ticket travel products, such as international air, business and first
class fares, cruises, and vacations packages in specials displayed and accessed
on our website homepage. Marketing in our first stage is primarily
word-of-mouth to business associates, family and social acquaintances, and by
email campaigns to travel agencies and the public. We expect to continue to
operate at a loss during our initial development/operating period.
 
 Office
space, equipment, and administrative services are provided by a vendor. No
salaried employees have been engaged during this period. Our founding principal
is the Company’s only officer, and he will provide the resources to execute our
plans in this phase of operation. No salary is planned to be paid to the
founding principal or any other employees until growth capital would be raised
in planned subsequent development stages and cash flow from operations allow
it.
    8
 
 For
customer service and call in sales, we utilize a single home-based travel agent
who is compensated on a contract basis from any bookings created exclusively by
the agent on an equal commission split. We provide our home-based agent with an
800 phone line and internet service to access our website for sales to the
agents’ customers, and our agent is available to all of our clients for customer
service. Customer service continues to be minimal during this stage due to the
automated nature of the website and the low level of site usage.
 
 We are
still pursuing this plan but to date we have not been able to raise additional
funds through either debt or equity offerings. Without this additional cash we
have been unable to pursue our plan of operations and commence generating
revenue. We believe that we may not be able to raise the necessary funds to
continue to pursue our business operations. As a result of the foregoing, we
have recently begun to explore our options regarding the development of a new
business plan and direction. We were previously in discussions with Iggy’s
House, Inc. regarding a potential merger or acquisition.  At this time
the Company is not proceeding with this transaction. However, the Company is
currently engaged in discussions with other companies regarding the possibility
of a reverse triangular merger (the “Merger”) involving our company. At this
stage, no definitive terms have been agreed to, and neither party is currently
bound to proceed with the Merger.
 
 Limited
Operating History
 
 We have
generated a limited time of financial information and have not previously
demonstrated that we will be able to expand our business through an increased
investment in our product line and/or marketing efforts. We cannot guarantee
that the expansion efforts described in this report will be successful. Our
business is subject to risks inherent in growing an enterprise, including
limited capital resources and possible rejection of our new products and/or
sales methods.
  Results
of Operations
  The
Company had minimal operating income from inception through May 31, 2008.
For the quarter ended May 31, 2008, the registrant recognized a net loss of
$8,209 and for the period from inception through May 31, 2008, the registrant
recognized a net loss of $61,996. Expenses for the quarter were comprised of
costs mainly associated with legal and professional fees.
  Capital
Resources and Liquidity
  As of May
31, 2008, we had $32,754 in cash and therefore we have limited capital resources
and will rely upon the issuance of common stock and additional capital
contributions from shareholders to fund administrative expenses.  Cash
and cash equivalents from inception to date have been sufficient to cover
expenses involved in starting our business. We will require additional funds to
continue to implement and expand our business plan during the next twelve
months
  Recent Accounting
Pronouncements
  Trip Tech
does not expect the adoption of recently issued accounting pronouncements to
have a significant impact on Trip Tech’s results of operations, financial
position, or cash flow.
   9
   Critical Accounting
Policies
  Our
financial statements and related public financial information are based on the
application of accounting principles generally accepted in the United States
(“GAAP”). GAAP requires the use of estimates; assumptions, judgments and
subjective interpretations of accounting principles that have an impact on the
assets, liabilities, revenues and expense amounts reported. These estimates can
also affect supplemental information contained in our external disclosures
including information regarding contingencies, risk and financial condition. We
believe our use of estimates and underlying accounting assumptions adhere to
GAAP and are consistently and conservatively applied. We base our estimates on
historical experience and on various other assumptions that we believe to be
reasonable under the circumstances. Actual results may differ materially from
these estimates under different assumptions or conditions. We continue to
monitor significant estimates made during the preparation of our financial
statements.
 
 Off Balance Sheet
Arrangements
  We have
no off-balance sheet arrangements.
 
 Off-Balance Sheet
Arrangements
  We do not
have any off-balance sheet arrangements, financings, or other relationships with
unconsolidated entities or other persons, also known as “special purpose
entities” (SPEs).
 
 Item
3.  Quantitative and Qualitative Disclosures About Market Risk
  The
Company is subject to certain market risks, including changes in interest rates
and currency exchange rates.  The Company does not undertake any specific
actions to limit those exposures.
 
 Foreign
Currency Exchange Rate Risk
 
 The
Company procures products from domestic sources with operations located
overseas.  As such, its financial results could be indirectly affected by
the weakening of the dollar.  If that were to occur, and if it were
material enough in movement, the financial results of the Company could be
affected, but not immediately because the Company has entered into contracts
with these vendors which establish product pricing levels for up to one year.
 Management believes these contracts provide a sufficient amount of time to
mitigate the risk of changes in exchange rates.
 
 Item 4T.  Controls and
Procedures
  Pursuant
to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”),
the Company carried out an evaluation, with the participation of the Company’s
sole officer and director, of the effectiveness of the Company’s disclosure
controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act)
as of the end of the period covered by this report. Based upon that evaluation,
in consideration of the fact that the Company has no employees besides the
president, the president and sole director concluded that the Company’s
disclosure controls and procedures are not effective.  Through the use
of external consultants the company believes that the financial statements and
the other information presented herewith are materially correct.
  Management’s Report on Internal
Controls over Financial Reporting
  Internal
control over financial reporting is a process to provide reasonable assurance
regarding the reliability of consolidated financial reporting and the
preparation of financial statements for external purposes in accordance with
U.S. generally accepted accounting principles.  There has been no change in
the Company’s internal control over financial reporting during the quarter ended
May 31, 2008 that has materially affected, or is reasonably likely to materially
affect, the Company’s internal control over financial reporting.
  The
Company’s sole officer and director does not expect that the Company’s
disclosure controls and procedures or the Company’s internal controls will
prevent all errors and all fraud. A control system, no matter how well conceived
and operated, can provide only reasonable, not absolute, assurance that
the objectives of the control system are met. Further, the design of a
control system must reflect the fact that there are resource constraints, and
the benefits of controls must be considered relative to their costs. Because of
the inherent limitations in all control systems, no evaluation of the controls
can provide absolute assurance that all control issues and instances of fraud,
if any, within the Company have been detected.
  
 10
 
  
 PART
II - OTHER INFORMATION
  Item
1. Legal Proceedings.
  The
Company is currently not a party to any pending legal proceedings and no such
action by or to the best of its knowledge, against the Company has been
threatened.
  Item
1A. Risk Factors
 None
 
 Item
2. Changes in Securities.
  None
  Item
4. Submission of Matters to a Vote of Security Holders.
  None.
  Item
5. Other Information.
  None
  Item 6.
Exhibits
  (a)           
Exhibits
  31.1  Certifications
pursuant to Section 302 of Sarbanes Oxley Act of 2002
  32.1  Certifications
pursuant to Section 906 of Sarbanes Oxley Act of 2002
  
 11
 
  
  SIGNATURES
    Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
  
  TRIP
      TECH, INC.Date:
      July 14, 2008
              By:
              /s/
      Gene ThompsonGENE
      THOMPSONPresident,
      Chief Executive Officer, Chief Financial
Officer