**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**Form        10-QSB/A**

| (Mark                One) |
|---------------------------|
|                      |   |
| x                         | QUARTERLY                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934 FOR                THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2007 |
|                      |   |
| o                         | TRANSITION                REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT FOR                THE TRANSITION PERIOD FROM __________ TO __________ COMMISSION                FILE NUMBER ________________ |

**TIMESHARE      HOLDINGS, INC.**

| **Nevada**(State                or other jurisdiction of incorporation or organization) | **20-8739613**(I.R.S.                Employer Identification No.) |
|-----------------------------------------------------------------------------------------|-------------------------------------------------------------------|

**2350      S. Jones Blvd., Ste. 101, Las Vegas, NV 89146**

**(702) 215-5830**

**APPLICABLE      ONLY TO CORPORATE ISSUERS**

----

 

**TABLE      OF CONTENTS**

|                                                                                                                                 |   | **Page** |   |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|----------|--------|
| **PART                I - FINANCIAL INFORMATION**                                                                                    |   |
|                                                                                                                                 |   |     |   |
| Item                1.       Financial Statements                                                           |   |     | 3      |   |
| Item                2.       Management’s Discussion and Analysis or                Plan of Operation |   |     | 10     |   |
| Item                3.       Controls and Procedures                                                        |   |     | 11     |   |
|                                                                                                                                 |   |     |   |   |
| **PART                II - OTHER INFORMATION**                                                                                       |
|                                                                                                                                 |   |     |   |   |
| Item                1.       Legal Proceedings                                                              |   |     | 11     |   |
| Item                2.       Unregistered Sales of Equity Securities                and Use of Proceeds     |   |     | 12     |   |
| Item                3.       Defaults Upon Senior                Securities                                 |   |     | 12     |   |
| Item                4.       Submission of Matters to a Vote of                Security Holders             |   |     | 12     |   |
| Item                5.       Other Information                                                              |   |     | 12     |   |
| Item                6.       Exhibits                                                                       |   |     | 12     |   |
|                                                                                                                                 |   |     | 12     |   |
| **SIGNATURES**                                                                                                                       |   |     | 13     |   |

----

**PART      I - FINANCIAL INFORMATION**

**Item      1.**
**Financial Statements.**

**Timeshare      Holdings, Inc**

| **ASSETS**                                                                                                                  |   |                           |       |   |                          |   |
|-----------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|------------|--------|-------------------------------|--------|
|                                                                                                                        |   | September                  30, |       |   | December                  31, |   |
|                                                                                                                        |   | 2007                           |       |   | 2006                          |   |
|                                                                                                                        |   | (Unaudited)                    |       |   |                          |   |
| **Current                  Assets**                                                                                         |   |                           |       |   |                          |   |
| Cash                                                                                                                        |   | $                              | 5,993      |   |                          | $      | 225 |   |
| Prepaid                  Expense                                                                                            |   |                           | 9,506      |   |                          |   | - |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Total                  Current Assets**                                                                                   |   |                           | 15,499     |   |                          |   | 225 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Fixed                  Assets**                                                                                           |   |                           |       |   |                          |   |   |   |
| Furniture,                  Fixture & Equipment (Net)                                                                   |   |                           | 16,283     |   |                          |   | 19,007 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Total                  Fixed Assets**                                                                                     |   |                           | 16,283     |   |                          |   | 19,007 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Other  Assets**                                                                                                 |   |                           |       |   |                          |   |   |   |
| Deferred                  Financing Cost                                                                                    |   |                           | 25,000     |   |                          |   | 25,000 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Total                  Other Assets**                                                                                     |   |                           | 25,000     |   |                          |   | 25,000 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **TOTAL                  ASSETS**                                                                                           |   | $                              | 56,782     |   |                          | $      | 44,232 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **LIABILITIES                  AND STOCKHOLDER'S (DEFICIT)**                                                                |   |                           |       |   |                          |   |   |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Current                  Liabilities**                                                                                    |   |                           |       |   |                          |   |   |   |
| Accounts                  Payable                                                                                           |   | $                              | 108,362    |   |                          | $      | 122,687 |   |
| Accrued                  Interest                                                                                           |   |                           | 30,079     |   |                          |   | 11,894 |   |
| Accrued                  Liabilities                                                                                        |   |                           | 9,000      |   |                          |   | - |   |
| Note                  Payable- Related Party                                                                                |   |                           | 249,204    |   |                          |   | 251,247 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Total                  Current Liabilities**                                                                              |   |                           | 396,645    |   |                          |   | 385,828 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Total                  Liabilities**                                                                                      |   |                           | 396,645    |   |                          |   | 385,828 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Commitments**                                                                                                             |   |                           | -          |   |                          |   | - |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **Stockholder's                  Equity (Deficit)**                                                                         |   |                           |       |   |                          |   |   |   |
| Common                  stock – September 30, 2007: 300,000,000 Shares Authorized                                     |   |                           |       |   |                          |
|     at                  $0.001 Par Value; 30,167,000 Issued and Outstanding;                            |   |                           | 30,167     |   |                          |   |   |   |
|     2006:                  $0.001 par value, 29,711,943 shares Issued and                  Outstanding; |   |                           |       |   |                          |   | 29,712 |   |
| Additional                  Paid-In-Capital                                                                                 |   |                           | 6,068,239  |   |                          |   | 5,791,035 |   |
| Deficit                  accumulated during the Development Stage                                                           |   |                           | (6,438,269 | )      |                          |   | (6,162,343 | ) |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| Total                  Stockholders' (Deficit)                                                                              |   |                           | (339,863   | )      |                          |   | (341,596 | ) |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |
| **TOTAL                  LIABILITIES AND STOCKHOLDERS' (DEFICIT)**                                                          |   | $                              | 56,782     |   |                          | $      | 44,232 |   |
|                                                                                                                        |   |                           |       |   |                          |   |   |   |

----

**Timeshare        Holdings, Inc**

|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |
|------------------------------------------------------|--------|--------------------------------------------------|------------|--------|--------------------------------------------------|--------|------------|--------------------------------------|--------|--------|------------|--------|--------|-----------------------------------|------------|
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   | Accumulated                  from |       |
|                                                 |   | Three                  Months Ended              |       |   | Nine                  Months Ended               |   |       | July                  12, 2005       |   |
|                                                 |   | September                  30,    |       |   | September                  30,    |   |       | (inception)                  through |   |
|                                                 |   | 2007                                             |       |   | 2006                                             |   |       | 2007                                 |   |   | 2006       |   |   | September                  30,    |       |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   | 2007                              |       |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |
| **Revenues,                  Net**                   |   | $                                                | -          |   |                                             | $      | -          |                                 |   | $      | -          |   |   | $                                 | -          |   |   | $ | - |   |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| **Operating                  Expenses**              |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| Salaries                                             |   |                                             | 12,704     |   |                                             |   | 9,010      |                                 |   |   | 36,585     |   |   |                              | 62,391     |   |   |   | 171,829 |   |
| Compensation                  Cost                   |   |                                             | -          |   |                                             |   | 5,542,247  |                                 |   |   | 90,059     |   |   |                              | 5,542,247  |   |   |   | 5,632,306 |   |
| Professional                  Fees                   |   |                                             | 19,349     |   |                                             |   | 32,300     |                                 |   |   | 79,251     |   |   |                              | 84,019     |   |   |   | 270,138 |   |
| General                  & Administrative        |   |                                             | 20,474     |   |                                             |   | 17,079     |                                 |   |   | 49,590     |   |   |                              | 96,396     |   |   |   | 324,831 |   |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| **Total                  Operating Expenses**        |   |                                             | 52,527     |   |                                             |   | 5,600,636  |                                 |   |   | 255,485    |   |   |                              | 5,785,053  |   |   |   | 6,399,104 |   |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| **Loss                  From Operations**            |   |                                             | (52,527    | )      |                                             |   | (5,600,636 | )                                    |   |   | (255,485   | )      |   |                              | (5,785,053 | ) |   |   | (6,399,104 | ) |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| **Other                  Income (Expense)**          |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| Interest                  Expense                    |   |                                             | (6,043     | )      |                                             |   | (3,940     | )                                    |   |   | (20,441    | )      |   |                              | (6,277     | ) |   |   | (39,165 | ) |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| **Total                  Other Income (Expense)**    |   |                                             | (6,043     | )      |                                             |   | (3,940     | )                                    |   |   | (20,441    | )      |   |                              | (6,277     | ) |   |   | (39,165 | ) |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| **Loss                  Before Income Taxes**        |   |                                             | (58,570    | )      |                                             |   | (5,604,576 | )                                    |   |   | (275,926   | )      |   |                              | (5,791,330 | ) |   |   | (6,438,269 | ) |
| Income                  Tax Expense                  |   |                                             | -          |   |                                             |   | -          |                                 |   |   | -          |   |   |                              | -          |   |   |   | - |   |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| **Net                  Loss**                        |   | $                                                | (58,570    | )      |                                             | $      | (5,604,576 | )                                    |   | $      | (275,926   | )      |   | $                                 | (5,791,330 | ) |   | $ | (6,438,269 | ) |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| **Basic                  earnings per share:**       |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| Loss                  per share                      |   | $                                                | (0.00      | )      |                                             | $      | (0.21      | )                                    |   | $      | (0.01      | )      |   | $                                 | (0.25      | ) |   |   |   |   |
|                                                 |   |                                             |       |   |                                             |   |       |                                 |   |   |       |   |   |                              |       |   |   |   |   |   |
| Weighted                  average shares outstanding |   |                                             | 30,167,000 |   |                                             |   | 26,452,303 |                                 |   |   | 30,095,574 |   |   |                              | 23,425,348 |   |   |   |   |   |

----

**Timeshare        Holdings, Inc**

|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |
|-------------------------------------------------------------------------------|--------|-------------------------------|------------|--------|----------------------------------|--------|--------|-------------|--------|--------|---------------|--------|--------|--------|------------|
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   | Total  |       |
|                                                                          |   | Common                  Stock |       |   | Paid                  in Capital |   |   | Accumulated |   |   | Stockholders' |   |
|                                                                          |   | Shares                        |       |   | Amount                           |   |   |        |   |   | Deficit       |   |   | Equity |       |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |
| Balance,                  July 12, 2005                                       |   |                          | -          |   |                             | $      | -      |        |   | $      | -             |   |   | $      | -          |   |   | $ | - |   |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Shares                  issued for Founders                                   |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| @ $  0.01per                  share                            |   |                          | 21,563,483 |   |                             |   | 21,564 |        |   |   | (13,064       | )      |   |   |       |   |   |   | 8,500 |   |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Shares                  issued for cash                                       |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| @ $  0.79per                  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                                       |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| @ $  0.79per                  share                            |   |                          | 88,791     |   |                             |   | 88     |        |   |   | 69,912        |   |   |   |       |   |   |   | 70,000 |   |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Shares                  issued for services                                   |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| @ $  0.71per                  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                                       |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| @ $  0.79per                  share                            |   |                          | 152,213    |   |                             |   | 152    |        |   |   | 119,848       |   |   |   |       |   |   |   | 120,000 |   |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Shares                  issued for services                                   |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| @ $  0.71per                  share                            |   |                          | 126,844    |   |                             |   | 127    |        |   |   | 89,932        |   |   |   |       |   |   |   | 90,059 |   |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Shares                  issued pursuant to                                    |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| a                  Private Placement for cash                                 |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| @ $  0.10per                  share                            |   |                          | 76,000     |   |                             |   | 76     |        |   |   | 7,524         |   |   |   |       |   |   |   | 7,600 |   |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Contributed                  Capital                                          |   |                          | 0          |   |                             |   | 0      |        |   |   | 10,000        |   |   |   |       |   |   |   | 10,000 |   |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Shares                  issued for cash                                       |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| @ $  0.50per                  share                            |   |                          | 100,000    |   |                             |   | 100    |        |   |   | 49,900        |   |   |   |       |   |   |   | 50,000 |   |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Loss                  for the 9 months ended                                  |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
|        September                  30, 2007 |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   | (275,926   | ) |   |   | (275,926 | ) |
|                                                                          |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |
| Balance                  Sept. 30, 2007                                       |   |                          | 30,167,000 |   |                             |   | 30,167 |        |   |   | 6,068,239     |   |   |   | (6,438,269 | ) |   |   | (339,863 | ) |
|  (Unaudited)                                                             |   |                          |       |   |                             |   |   |        |   |   |          |   |   |   |       |   |   |   |   |   |

----

**Timeshare        Holdings, Inc**

|                                                              |   |                            |     |   |                                                  |   |       | Accumulated                  from    |   |
|-------------------------------------------------------------------|--------|---------------------------------|----------|--------|-------------------------------------------------------|--------|------------|--------------------------------------|--------|
|                                                              |   |                            |     |   |                                                  |   |       | July                  12, 2005       |   |
|                                                              |   | 9                  Months Ended |     |   |                  9                  Months Ended |   |       | (inception)                  through |   |
|                                                              |   | September                  30,  |     |   | September                  30,                        |   |       | September                  30,       |   |
|                                                              |   | 2007                            |     |   | 2006                                                  |   |       | 2007                                 |   |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |
| Cash                  Flows from Operating Activities:            |   |                            |     |   |                                                  |   |       |                                 |   |
| Net                  Income (Loss)                                |   | $                               | (275,926 | )      |                                                  | $      | (5,791,330 | )                                    |   | $ | (6,438,269 | ) |
| Common                  stock issued for services                 |   |                            | 90,059   |   |                                                  |   | 5,542,247  |                                 |   |   | 5,640,806 |   |
| Depreciation                  & Amortization                  |   |                            | 2,724    |   |                                                  |   | 2,108      |                                 |   |   | 6,127 |   |
| Changes                  in Operating Assets and Liabilities:     |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| (Increase)                  Decrease in Deferred Financing        |   |                            |     |   |                                                  |   | -          |                                 |   |   | (25,000 | ) |
| (Increase)                  Decrease in Prepaid Expense           |   |                            | (9,506   | )      |                                                  |   | -          |                                 |   |   | (9,506 | ) |
| Increase                  (Decrease) in Accounts Payable          |   |                            | (14,325  | )      |                                                  |   | 32,440     |                                 |   |   | 108,362 |   |
| Increase                  (Decrease) in Accrued Interest          |   |                            | 18,185   |   |                                                  |   | 6,277      |                                 |   |   | 30,079 |   |
| Increase                  (Decrease) in Accrued Liabilities       |   |                            | 9,000    |   |                                                  |   | -          |                                 |   |   | 9,000 |   |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Net                  Cash Provided (Used) by Operating Activities |   |                            | (179,789 | )      |                                                  |   | (208,258   | )                                    |   |   | (678,401 | ) |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Cash                  Flows from Investing Activities:            |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Purchase                  of Property and Equipment               |   |                            | -        |   |                                                  |   | (11,190    | )                                    |   |   | (22,410 | ) |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Net                  Cash Provided (Used) by Investing Activities |   |                            | -        |   |                                                  |   | (11,190    | )                                    |   |   | (22,410 | ) |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Cash                  Flows from Financing Activities:            |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Proceeds                  from Stock Issuances                    |   |                            | 187,600  |   |                                                  |   | 70,000     |                                 |   |   | 457,600 |   |
| Proceeds                  from Notes Payable                      |   |                            | 3,850    |   |                                                  |   | 144,432    |                                 |   |   | 255,097 |   |
| Proceeds                  from Loan Payable                       |   |                            | 30,000   |   |                                                  |   | -          |                                 |   |   | 30,000 |   |
| Repayment                  of Notes Payable - Related Party       |   |                            | (35,893  | )      |                                                  |   |       |                                 |   |   | (35,893 | ) |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Net                  Cash Provided (Used) by Financing Activities |   |                            | 185,557  |   |                                                  |   | 214,432    |                                 |   |   | 706,804 |   |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Increase                  (Decrease) in Cash                      |   |                            | 5,768    |   |                                                  |   | (5,016     | )                                    |   |   | 5,993 |   |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Cash                  and Cash Equivalents at Beginning of Period |   |                            | 225      |   |                                                  |   | 4,551      |                                 |   |   | - |   |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Cash                  and Cash Equivalents at End of Period       |   | $                               | 5,993    |   |                                                  | $      | (465       | )                                    |   | $ | 5,993 |   |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Cash                  Paid for:                                   |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Interest                                                          |   |                            |     |   |                                                  |   |       |                                 |   | $ | 6,381 |   |
| Income                  Taxes                                     |   |                            |     |   |                                                  |   |       |                                 |   | $ | - |   |
|                                                              |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Non                  cash Financing Activities:                   |   |                            |     |   |                                                  |   |       |                                 |   |   |   |   |
| Common                  Stock issued for services                 |   |                            | 90,059   |   |                                                  |   | 5,542,247  |                                 |   |   | 5,640,806 |   |

----

**TIMESHARE        HOLDINGS, INC.**

**(A        Development Stage Company)**

**Organization**

**Interim        Financial Reporting**

----

**TIMESHARE          HOLDINGS, INC.**

**(A          Development Stage Company)**

**Earnings        Per        Share**

| Basic                  earnings per share: |   | September                  30, 2007 |       |   | September                  30,2006 |   |
|--------------------------------------------|--------|-------------------------------------|------------|--------|------------------------------------|--------|
| Net                  loss                  |   | $                                   | (275,926   | )      |                               | $      | (5,791,330 | ) |
|                                       |   |                                |       |   |                               |   |   |   |
| Weighted                  average shares   |   |                                | 30,095,574 |   |                               |   | 23,425,348 |   |
|                                       |   |                                |       |   |                               |   |   |   |
| Loss                  per share            |   | $                                   | (.01       | )      |                               | $      | (.25 | ) |

----

**TIMESHARE          HOLDINGS, INC.**

**(A          Development Stage Company)**

----

**Item      2.**
**Management’s Discussion and Analysis or Plan of      Operation.**

**Overview**

**Results      of Operations**

**Three      Months Ended September 30, 2007 as compared to Three Months Ended September      30,      2006**

**Nine      Months Ended September 30, 2007 as compared to Nine Months Ended September      30,      2006**

----

**Liquidity      and Capital Resources**

**Off-Balance      Sheet Arrangements**

**Item      3.**  **Controls      and Procedures.**

**PART      II**

**Item      1.**
**Legal Proceedings.**

We      are not a party to any pending legal      proceeding, nor is our property the subject of a pending legal proceeding,      that      is not in the ordinary course of business or otherwise material to the financial      condition of our business. None of our directors, officers or affiliates is      involved in a proceeding adverse to our business or has a material interest      adverse to our business. 

----

**Item      2.** **Unregistered Sales of Equity Securities and Use of      Proceeds.**

Not      applicable.

 

**Item      3.**
**Defaults Upon Senior Securities.**

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

**Item      5.**
**Other Information.**

**Item      6. **
        **Exhibits.**

| **Exhibit                Number** |   | **Description**                                                                                                                                                                                                                              |
|-----------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 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. |

----

**SIGNATURES**

|                                    |                                                                               |                                              |
|-----------------------------------------|------------------------------------------------------------------------------------|---------------------------------------------------|
|                                    | **TIMESHARE                  HOLDINGS, INC.**                                      |
|                               |                                                                          |                                         |
| Date:                  December 4, 2007 | By:                                                                      | */s/ Paul                  Kenneth Thompson* |
|                                    | Paul                    Kenneth Thompson                                           |
|                                    | Chief                  Executive Officerand                  Chairman of the Board |

|                                    |                                                                              |                                              |
|-----------------------------------------|-----------------------------------------------------------------------------------|---------------------------------------------------|
| Date:                  December 4, 2007 | By:                                                                     | */s/ Frederick                  Henry Conte* |
|                                    | Frederick                    Henry Conte                                          |
|                                    | Chief                  Financial Officer, President and                  Director |