U. S. Securities and Exchange Commission Washington, D. C. 20549  FORM 10-Q  [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2008  [   ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____  Commission File No. 0-50441  MAUI GENERAL STORE, INC.
(Name of Small Business Issuer in its Charter)New York84-1275578(State of Other Jurisdiction of
incorporation or organization)(I.R.S.) Employer I.D. No.)  21 West 39th Street, Suite 2A, New York, NY  10018(Address of Principal Executive Offices)  Issuer's Telephone Number: (212) 391-2752  Indicate  by check mark  whether the  Registrant  (1) has filed all reports required to be filed by Sections 13 or 15(d) of the  Securities Exchange Act of 1934  during  the  preceding  12 months  (or for such shorter  period  that the Registrant was required to file such reports),  and (2) has been subject to such filing requirements for the past 90 days. Yes [X]  No [    ] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)  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.  See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. (Check One)  Large accelerated filer Accelerated filer__  Non-accelerated filer Small reporting company [X] APPLICABLE ONLY TO CORPORATE ISSUERS:  Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date: August 7, 2008 Common Voting Stock: 140,000,000     MAUI GENERAL STORE, INC.CONDENSED BALANCE SHEETS(Unaudited)(Audited)ASSETSJune 30, 2008December 31, 2007Current Assets:Cash and cash equivalents$                    -$                   1,042Total Assets-1,042LIABILITIES AND STOCKHOLDERS' DEFICIENCYCurrent Liabilities:Accounts Payable-13,443Loan payable-related party-4,000Total Liabilities-17,443Stockholders' Equity:Common Stock, $0.001 par value; 500,000,000shares  authorized, 140,000,000 shares issuedand outstanding140,000140,000Additional paid-in capital459,562432,968Accumulated Deficit(599,562)(589,369)Total Stockholders' Deficiency-(16,401)Total Liabilities and Stockholders' Equity$                    -$                   1,042     See accompanying notes to condensed financial statements 2      MAUI GENERAL STORE, INC.CONDENSED STATEMENTS OF OPERATIONSFOR THE PERIOD ENDED JUNE 30(UNAUDITED)Three Months EndedSix Months Ended2008200720082007Revenues$            -$              -$            -$              -Operating Expenses:Professional fees-2,42410,7568,485General and Administrative Expenses1,9963022,3961,533Total Operating Expenses1,9962,72613,15210,018Loss from Operations(1,996)(2,726)(13,152)(10,018)Other Miscellaneous income-35-35Forgiveness of debt2,959-2,959-Provision for Income Taxes----Net Income (Loss)963(2,691)(10,193)(9,983)Loss Per Common Share- Basic and DilutedNet Loss Per Share - Basic and Diluted$            -$              -$            -$              -Weighted average number of shares outstandingDuring the period - Basic and Diluted140,000,000140,000,000140,000,000140,000,000   See accompanying notes to condensed financial statements 3     MAUI GENERAL STORE, INC.CONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE SIX MONTHS ENDED JUNE 30,(UNAUDITED)20082007Cash Flows From Operating Activities:Net Loss$         (10,193)$             (9,983)Adjustments To Reconcile Net Income To Net CashProvided By Operating Activities:In-kind contribution-2,400Accounts Payable(13,443)6,618Net Cash Provided by Operating Activities(23,636)(965)Cash Flows From Investing Activities:--Cash Flows From financing Activities:Repayment of loan payable-Stockholder(4,000)-Capital contribution26,594-Proceeds from loan payable1,000Net Cash Provided by Financing Activities22,5941,000Net Increase (Decrease) in Cash(1,042)35Cash- Beginning of Year1,0427Cash- End of Year$                 -$                   42Supplemental disclosure of cash flow information:Cash paid for interest--Cash paid for taxes--    See accompanying notes to condensed financial statements 4  MAUI GENERAL STORE, INC. NOTES TO CONDENSEDFINANCIALSTATEMENTS FOR THE PERIOD ENDED JUNE 30, 2008 (UNAUDITED)   NOTE 1.-   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION  Basis of presentation The accompany unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United State of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information necessary for a comprehensive presentation of financial position and results of operations. It is managements opinion however, that all material adjustments have been made, which are necessary for a fair financial statements presentation. The results for the interim period are necessarily indicative of the results to be expected for the year.  Use of Estimate In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates.  Cash and Cash Equivalents For the purposes of the cash flow statement, the Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents.  Stock-Based Compensation In December 2004, The FASB issued SFAS No. 123(R), Shared-Based Payment, which replaces SFAS No.123 and supersedes APB Opinion No.25. Under SFAS No. 123(R), companies are required to measure the compensation costs of shared-based compensation arrangement based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide. Share-based compensation arrangements include stock option, restricted share plans. Performance-based awards, share appreciation rights and employee share purchase plans. In March 2005 the SEC issued Staff Accounting Bulletin No.107, or SAB 107. SAB 107 expresses views of the staff regarding the interaction between SFAS No.123( R ) and certain SEC rules and regulations and provide the staffs views regarding the valuation of shared-based arrangement for public companies. SFAS No. 123 permits public companies to adopt its requirements using one of two methods. On April 14, 2005, the SEC adopted a new rule amending the compliance dates for SFAS 123R. Companies may elect to apply this statement either prospectively, or on a modified version of retrospective application under which financial statements for prior periods are adjusted on a  5  MAUI GENERAL STORE, INC. NOTES TO CONDENSEDFINANCIALSTATEMENTS FOR THE PERIOD ENDED JUNE 30, 2008 (UNAUDITED)   Stock-Based Compensation (continued) basis consistent with the pro forma disclosure required for those periods under SFAS 123. Effective January 1, 2006, the company has fully adopted the provisions of SFAS No.123R and related interpretations as provided by SAB 107. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. The Company applies this statement prospectively.  Income Taxes The company accounts for income tax under the Statement of Financial Accounting Standards No. 109, Accounting for Income Tax (Statement 109). Under statement 109, deferred tax assets and liabilities are recognized for the future tax consequence attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled, Under Statement 109, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Loss per Common Share Loss per common share is computed in accordance with Statement of Financial Accounting Standards No. 128, Earning per share. Basic earnings per common share is calculated by dividing net loss available to common shareholders by the weighted average number of common shares outstanding for each period. Diluted earnings per common share are calculated by adjusting the weighted shares outstanding assuming conversion of all potentially dilutive stock options, warrants, and convertible securities. At June 30, 2008 and 2007, the Company does not have any outstanding dilutive securities.  Recent Accounting Pronouncements In February 2007, the Financial Accounting Standards Board (FASB) issued SFAS No. 159, The Fair Value Option for Financial Assets and Financial Liabilities  Including an Amendment of FASB Statement No. 115. This statement permits entities to choose to measure many financial instruments and certain other items at fair value. Most of the provisions of SFAS No. 159 apply only to entities that elect the fair value option. However, the amendment of SFAS No. 115 Accounting for Certain Investment in Debt and Equity Securities applies to all entities with available- for  sale and trading securities. SFAS No. 159 is effective as of the beginning of entitys first fiscal year that begins after November 15, 2007. Early adoption is permitted as of the beginning of a fiscal year that begins on or before November 15, 2007, provided the entity also elects to apply the provision of SFAS No. 157, Fair Value Measurements. The adoption of this statement is not expected to have a material effect on the Companys financial statements.    6  MAUI GENERAL STORE, INC. NOTES TO CONDENSEDFINANCIALSTATEMENTS FOR THE PERIOD ENDED JUNE 30, 2008 (UNAUDITED)   Recent Accounting Pronouncements (continued) In December 2007, the Financial Accounting Standard Board (FASB) issued SFAS No.160, Noncontrolling Interests in Consolidated Financial Statements  an amendment of APB No. 51. This statement improves the relevance, comparability, and transparency of the financial information that a reporting entity provides in its consolidated financial statements by establishing accounting and reporting standards that require; the ownership interests in subsidiaries held by parties other than the parent and the amount of consolidated net income attributable to the parent and to the noncontrolling interest be clearly identified and presented on the face of the consolidated statement of income, changes in parents ownership interest while the parent retains its controlling financial interest in its subsidiary be accounted for consistently, when a subsidiary is deconsolidated any retained noncontrolling equity investment in the former subsidiary be initially measured at fair value, entities provide sufficient disclosures that clearly identify and distinguish between the interests of the parent and the interests of noncontrolling owners. SFAS No. 160 affects those entities that have an outstanding noncontrolling interest in one or more subsidiaries or that deconsolidated a subsidiary. SFAS No. 160 is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008. Early adoption is prohibited. The adoption of this statement is not expected to have a material affect on the Companys financial statements.  In March 2008, the FASB issued SFAS No.161, Disclosures about Derivative Instruments and Hedging Activities, an amendment of FASB Statement No. 133 (SFAS 161). This statement is intended to improve transparency in financial reporting by requiring enhanced disclosures of an entitys derivative instruments and hedging activities and their effects on the entitys financial position, financial performance, and cash flows. SFAS 161 applies to all derivative instruments within the scope of SFAS 133, Accounting for Derivative instruments and Hedging Activities (SFAS 133) as well as related hedged items, bifurcated derivative, and nonderivative instruments that are designated and qualify as hedging instruments. Entities with instruments subject to SFAS 161 must provide more robust qualitative disclosures and expanded quantitative disclosures. SFAS 161 is effective prospectively for financial statements issued for fiscal years and interim period beginning after November 15, 2008, with early application permitted. We are currently evaluating the disclosure implication of this statement.  NOTE 2. - RELATED PARTY TRANSACTIONS  During the period ended June 30, 2008, on the behalf of the Company, the Companys new majority shareholder paid expenses aggregating $13,152. The payment was treated for accounting purposes as contributed capital.  (See Note 3). During the six months period ended June 30, 2008 the Company repaid a $3,462 loan from the individual who was its majority shareholder until June 6, 2008.That individual also forgave $2,959 due to him from the Company.   7  MAUI GENERAL STORE, INC. NOTES TO CONDENSEDFINANCIALSTATEMENTS FOR THE PERIOD ENDED JUNE 30, 2008 (UNAUDITED)   NOTE 3. CAPITAL CONTRIBUTION During the period ended June 30, 2008, the Companys new majority shareholder contributed $26,594 to pay expenses incurred in prior periods and during the quarter ended June 30, 2008.  NOTE 4. - GOING CONCERN As reflected in the accompanying unaudited financial statement, the Company has an accumulated deficit of $599,562, and no working capital. These factors raise substantial doubt about the companys ability to continue as a going concern. The companys continued existence is dependent upon its ability to raise capital. In the near term, the Company will rely upon its new majority shareholder for funds to sustain operations. The financial statements do not include any adjustments that might be necessary should the company be unable to continue as a going concern.  8    ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT OF OPERATIONS  Results of Operations  We currently have no assets and no operations.  During the first six months of 2008 we realized no revenue and incurred $13,152 in operating expenses.  Currently, our operating expenses consist of fees to lawyers and accountants necessary to maintain our standing as a fully-reporting public company and other administration expenses, which are primarily related to the trading in our common stock.  Until the second quarter of 2008, a rent fee was also included in general administrative expenses.  In June 2008 the majority interest in our company was sold, and the new majority shareholder is providing office space to the company free of charge. Our operating expenses in the first six months of 2008 were greater than in the first six months of 2007 because we incurred expenses in 2008 in connection with our efforts to obtain an operating company.  We do not expect the level of our operating expenses to change in the future unless we undertake to implement a business plan or effect an acquisition.  Liquidity and Capital Resources  At June 30, 2008 we had a no working capital, due to the fact that we had no assets and no liabilities.  We achieved this balance by utilizing a $26,594 capital contribution from our new majority shareholder to satisfy all of the Companys accrued payables.    As a result, our operations consumed $23,636 in the first six months of 2008, since we paid our current expenses as well as those carried over from 2007.  In comparison, during the first six months of 2007, our operations consumed only $965 in cash, as $2,400 of our expenses was an in-kind contribution of rent by our then-President and we increased accounts receivable by $6,618.  In the future, unless we achieve the financial and/or operational wherewithal to sustain our operations, it is likely that we will continue to experience negative cash flow.  To date our cash needs have been supplied by private placements of securities and loans from management and shareholders.  We expect that our new President will fund our operations until we have completed an acquisition of an operating company and that we will, therefore, have sufficient cash to maintain our existence as a shell company for the next twelve months, if necessary.  Our President is not required to fund our operations, however, by any contract or other obligation.  The report from our independent accountants on our financial statements for the year ended December 31, 2007 states that there is substantial doubt as to our ability to continue as a going concern.  In order to alleviate that doubt, our management is engaged in seeking to acquire, through the issuance of capital stock, either project financing or an operating business that can sustain its operations.  We cannot tell at this time whether such an acquisition will be accomplished.  We currently do not have enough cash to continue operations for the next twelve months.   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, revenue 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 if 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.  Our significant accounting policies are summarized in Note 1 of our financial statements. While all these significant accounting policies impact its financial condition and results of operations, the Company views certain of these policies as critical. Policies determined to be critical are those policies that have the most significant impact on the Companys financial statements and require management to use a greater degree of judgment and estimates. Actual results may differ from those estimates. Our management believes that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies would cause effect on our consolidated results of operations, financial position or liquidity for the periods presented in this report.  Off-Balance Sheet Arrangements  We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition or results of operations.  ITEM 3 QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK  Not applicable.  ITEM 4.  CONTROLS AND PROCEDURES  Evaluation of Disclosure Controls and Procedures.  Fu Qiang, our Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of the Companys disclosure controls and procedures as of June 30, 2008.  Pursuant to Rule13a-15(e) promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, disclosure controls and procedures means controls and other procedures that are designed to insure that information required to be disclosed by the Company in the reports that it files with the Securities and Exchange Commission is recorded, processed, summarized and  10    reported within the time limits specified in the Commissions rules.  Disclosure controls and procedures include, without limitation, controls and procedures designed to insure that information the Company is required to disclose in the reports it files with the Commission is accumulated and communicated to our Chief Executive Officer and Chief Financial Officer as appropriate to allow timely decisions regarding required disclosure.  Based on his evaluation, Mr. Fu concluded that the Companys system of disclosure controls and procedures was effective as of June 30, 2008 for the purposes described in this paragraph.  Changes in Internal Controls.  There was no change in internal controls over financial reporting (as defined in Rule 13a-15(f) promulgated under the Securities Exchange Act or 1934) identified in connection with the evaluation described in the preceding paragraph that occurred during the Companys second fiscal quarter that has materially affected or is reasonably likely to materially affect the Companys internal control over financial reporting.  PART II   -   OTHER INFORMATION Item 6. Exhibits  31 Rule 13a-14(a) Certification 32 Rule 13a-14(b) Certification   SIGNATURES  Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the Registrant  has duly  caused  this  Report  to be  signed  on its  behalf by the undersigned thereunto duly authorized.   MAUI GENERAL STORE, INC.  Date: August 7, 2008 By: /s/ Fu Qiang Fu Qiang, Chief Executive Officer      11