U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
(Mark One)

|X|   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

      For the quarter ended March 31, 2006

|_|   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934

      For the transition period from _____ to _____

                        Commission File Number: 000-29553

                      BLOODHOUND SEARCH TECHNOLOGIES, INC.
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)

             Nevada                                      88-0492640
             ------                                      ----------
(State or other jurisdiction of                (IRS Employer Identification No.)
         incorporation)

                       19901 Southwest Freeway, Suite 114
                              Sugar Land, TX 77479
                              --------------------
                    (Address of principal executive offices)

                                 (281) 207-5436
                             ----------------------
                (Issuer's Telephone Number, Including Area Code)

        -----------------------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 |_|

Number of shares of common stock outstanding as of May 15, 2006: 10,645,008
shares of common stock.

Transitional Small Business Format (check one):  Yes  |_|      No |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 |_|


<PAGE>

                                TABLE OF CONTENTS

                                                                            Page
PART I                                                                        3
Item 1. Financial Statements                                                  3
Item 2. Management's Discussion and Analysis or Plan of Operation            10
Item 3 Controls and Procedures                                               13
PART II                                                                      14
Item 1.  Legal Proceedings                                                   14
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds          14
Item 3. Defaults Upon Senior Securities                                      15
Item 4. Submission of Matters to a Vote of Security Holders                  16
Item 5. Other Information                                                    16
Item 6. Exhibits                                                             16


                                       2
<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1.     Financial Statements.


                      BLOODHOUND SEARCH TECHNOLOGIES, INC.
                              Financial Statements
                      March 31, 2006 and December 31, 2005


                                       3
<PAGE>

                      Bloodhound Search Technologies, Inc.
                           (Development Stage Company)
                                  BALANCE SHEET
                      March 31, 2006 and December 31, 2005

                                                      March 31,     December 31,
                                                        2006          2005
                                                     (unaudited)
ASSETS
CURRENT ASSETS

Cash                                                  $ 202,633    $  27,751
Note and accrued interest receivable                          -      202,150
                                                      ---------    ---------

Total Current Assets                                    202,633      229,901


LICENSES - net of amortization                           33,000       11,250
                                                      ---------    ---------


                                                      $ 235,633    $ 241,151
                                                      ---------    ---------

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES

Accounts payable - related party                      $  11,576    $  11,576
Accounts payable                                          4,945          945
Note payable - related party                              6,001        5,938
                                                      ---------    ---------


Total Current Liabilities                                22,522       18,459
                                                      ---------    ---------


STOCKHOLDERS' EQUITY
Common stock
25,000,000 shares authorized, at $0.001 par value

8,408,136 shares issued and outstanding                   8,408       5,775

Capital in excess of par value                          857,233      470,802

Deficit accumulated during the development stage       (652,530)    (253,885)
                                                      ---------    ---------

Total Stockholders' Equity                              213,111      222,692
                                                      ---------    ---------

                                                      $ 235,633    $ 241,151
                                                      ---------    ---------

The accompanying notes are an integral part of these financial statements.

                                       4
<PAGE>

                      Bloodhound Search Technologies, Inc.
                           (Development Stage Company)
                                  STATEMENT OF
                                   OPERATIONS

           For the Three Months Ended March 31, 2006 and 2005 and the
                  Period March 20, 1996 (Date of Inception) to
                                 March 31, 2006
                                   (unaudited)

                                       March 31,      March 31    March 20, 1996
                                       2006           2005         to March 31,
 2006

 REVENUES                             $       -       $       -       $       -

 EXPENSES

Administration                           28,106           2,854          95,088
Advertising and marketing               310,014               -         310,014
Directors services                       50,000               -          50,000
Consulting fees                          12,550               -          12,550
Amortization                                750             750           6,167
                                      ---------       ---------       ---------

NET LOSS - before other
income and expenses                    (401,420)         (3,604)       (473,819)

OTHER INCOME AND EXPENSES

Interest income                           2,838               -           5,083
Interest expense                            (63)              -          (1,001)
Settlement of debt                            -               -          23,129
Goodwill write off                            -               -        (205,922)
                                      ---------       ---------       ---------


NET LOSS                              $(398,645)      $  (3,604)      $(652,530)
                                      =========       =========       =========


NET LOSS PER COMMON SHARE


Basic and diluted                     $       -       $       -
                                      ---------       ---------       ---------

 AVERAGE OUTSTANDING SHARES -
 (stated in 1,000's)

 Basic                                    6,653             800

The accompanying notes are an integral part of these financial statements.


                                       5
<PAGE>

                      Bloodhound Search Technologies, Inc.
                          ( Development Stage Company)
                             STATEMENT OF CASH FLOWS
        For the Three Months Ended March 31, 2006 and 2005 and the Period
                             March 20, 1996 (Date of Inception) to March 31,
                                2006 (unaudited)

                                 March 31,        March 31,    March 20, 1996 to
                                  2006            2005         March 31, 2006

CASH FLOWS FROM
OPERATING ACTIVITIES

Net loss                        $(398,645)        $  (3,604)     $(652,530)
Adjustments to reconcile
net loss to
net cash provided
by operating
activities

Amortization                          750               750          6,167
Domain name write off                  --                --          3,333
Good will write off                    --                --        205,922
Issuance of capital
stock for expenses                225,000                --        226,250
Contributions to capital               --                --          6,905
Change in prepaid expense              --                --             --
Change in accounts payable          6,213             1,392         22,522
                                ---------         ---------      ---------

Net Cash From Operations         (166,682)           (1,462)      (181,431)
                                ---------         ---------      ---------
CASH FLOWS FROM INVESTING
ACTIVITIES


Repayment of advances             200,000                --             --
Purchase domain name                   --                --         (5,000)
                                ---------         ---------      ---------
                                  200,000                --         (5,000)
                                ---------         ---------      ---------

CASH FLOWS FROM FINANCING
ACTIVITIES
Proceeds from issuance
of common stock                   141,564                --        389,064
                                ---------         ---------      ---------

Net Increase (Decrease)
in Cash                           174,882            (1,462)       202,633

Cash at Beginning
of Period                          27,751           234,823             --
                                ---------         ---------      ---------
Cash at End of Period           $ 202,633         $ 233,361      $ 202,633
                                =========         =========      =========


SCHEDULE OF NONCASH OPERATING
ACTIVITIES

 Issuance of 8,280,000 shares of common stock for
 services - 1999 to 2006                                         $ 226,250

 Contributions to capital - 2000 to 2002                         $   6,905

The accompanying notes are an integral part of these financial statements.


                                       6
<PAGE>

                      Bloodhound Search Technologies, Inc.
                          ( Development Stage Company)
                      STATEMENT OF CHANGES IN STOCKHOLDERS'
                                     EQUITY
                        For the Period to March 31, 2006
                                   (unaudited)

                                      Capital in
                                      Common Stock       Excess of  Accumulated
                                      Shares  Amount     Par Value  Deficit
                                      $                  $          $

Balance December 31, 2005             5,775,008   5,775  470,802    (253,885)

Shares issued for cash                   60,000      60   29,940
Shares issued for advertising           350,000     350  174,650
Shares issued for cash                  223,128     223  111,341
Shares issued for SIM license         1,500,000   1,500   21,000
Shares issued for directors services    500,000     500   49,500
Net loss to March 31 2006                    --      --       --    (398,645)
                                      ---------  ------  --------   ---------

Balance March 31, 2006                8,408,136  $8,408  $857,233   $(652,530)


The accompanying notes are an integral part of these financial statements

                                       7
<PAGE>

                      Bloodhound Search Technologies, Inc.
                               (Development Stage
                                    Company)
                          NOTES TO FINANCIAL STATEMENTS
                                 March 31, 2006

1. ORGANIZATION

The Company was incorporated under the laws of the state of Nevada on March 20,
1996 with authorized common stock of 25,000 shares with no par value and on
October 27, 2000 made a name change to "Safe Idea, Inc." as part of a change in
the authorized common capital stock to 50,000,000 shares with a par value of
$.0001. In January 2006 the name was changed to "Bloodhound Search Technologies,
Inc.", the authorized common stock was changed to 25,000,000 shares with a par
value of $0.001 and the issued shares of common stock were reverse split on the
basis of two outstanding shares for one new share (2 old for 1 new). The post
split outstanding shares with a par value of $0.001 is shown from inception.

The Company has been in the development stage since inception and has been
engaged in providing a repository of information and an interactive forum and a
comprehensive directory of services catering to entrepreneurs where they can
publish their business plans and share their ideas in a collaborative
environment. The Company acquired the Wetwool license in 2004 and the license to
use, distribute and sub license certain software, materials and services for the
development of an internet search engine known as a strategic information
monitoring system (SIMS), in 2006.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Methods

The Company recognizes income and expenses based on the accrual method of
accounting.

Dividend Policy

The Company has not yet adopted a policy regarding payment of dividends.

Earnings (Loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted
average number of shares actually outstanding. Diluted net income (loss) per
share amounts are computed using the weighted average number of common shares
and common equivalent shares outstanding as if shares had been issued on the
exercise of any common share rights unless the exercise becomes anti dilutive
and then only the basic per share amounts are shown in the report.

Financial Instruments

The carrying amounts of financial instruments are considered by management to be
their estimated fair values, due to their short term maturities.


                                       8
<PAGE>

                      Bloodhound Search Technologies, Inc.
                           (Development Stage Company)
                    NOTES TO FINANCIAL STATEMENTS (Continued)
                                 March 31, 2006

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Estimates and Assumptions

Management uses estimates and assumptions in preparing financial statements in
accordance with generally accepted accounting principles. Those estimates and
assumptions affect the reported amounts of the assets and liabilities, the
disclosure of contingent assets and liabilities, and the reported revenues and
expenses. Actual results could vary from the estimates that were assumed in
preparing these financial statements.

Income Taxes

The Company utilizes the liability method of accounting for income taxes. Under
the liability method deferred tax assets and liabilities are determined based on
the differences between financial reporting and the tax bases of the assets and
liabilities and are measured using the enacted tax rates and laws that will be
in effect, when the differences are expected to reverse. An allowance against
deferred tax assets is recorded, when it is more likely than not, that such tax
benefits will not be realized.

On March 31, 2006, the Company had a net operating loss available for carry
forward of $652,530. The tax benefit of approximately $196,000 from the loss
carry forward has been fully offset by a valuation reserve because the use of
the future tax benefit is doubtful since the Company has no operations. The loss
carry forward expires beginning in the years 2017 through 2027.

Financial and Concentrations Risk

The Company does not have any concentration or related financial credit risk.

Revenue Recognition

Revenue will be recognized on the sale and delivery of a product or the
completion of a service provided.

Advertising and Market Development

The company will expense advertising and market development costs as incurred.


                                       9
<PAGE>

                      Bloodhound Search Technologies, Inc.
                           (Development Stage Company)
                    NOTES TO FINANCIAL STATEMENTS (Continued)
                                 March 31, 2006

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Recent Accounting Pronouncements

The Company does not expect that the adoption of other recent accounting
pronouncements will have a material impact on its financial statements.

3. ACQUISITION OF LICENSE AGREEMENT

On September 29, 2004 the Company acquired an exclusive, perpetual license to
manufacture and distribute a passive fire control coating material with the
trademark name "Wetwool" to include the territories of the United States and
Canada in exchange for 1,500,000 common shares of the Company fairly valued at
$15,000. The license is estimated to have an economic useful life of five years.

Effective January 20, 2006 the Company acquired the license agreement for the
right, title, interest and benefit of certain licensed software, materials and
services related to the development of an internet search engine known as a
strategic information monitoring system (SIMS) for the issuance of 1,500,000
shares of restricted common stock fairly valued at $22,500. The license is
estimated to have an economic useful life of five years commencing April 1,
2006.

4. CAPITAL STOCK

During the three months ended March 31, 2006 the Company issued 60,000
restricted shares of common stock for cash of $30,000; issued 350,000 restricted
shares of common stock for cash directly expended for advertising; and issued
223,128 restricted shares of common stock for cash of $111,564. The Company also
issued 1,500,000 shares of restricted common stock to acquire the strategic
information monitoring system license and issued 500,000 restricted shares of
common stock to its CEO for services.

5. SUBSEQUENT EVENTS

Subsequent to March 31, 2006 the Company issued 600,000 shares of restricted
common stock to its newly appointed Chief Financial Officer as compensation for
his services to the Company and issued 850,000 shares of restricted common stock
to its newly appointed Chief Operating Officer as compensation for his services
to the Company.

Subsequent to March 31, 2006 the Company issued 260,000 restricted shares of
common stock for cash of $117,000.


Subsequent to March 31, 2006 the Company issued 420,000 shares of common stock
pursuant to the conversion by an assignee of a portion of a promissory note
issued by the Company March 20, 2002.

Subsequent to March 31, 2006 the Company issued 50,000 shares of common stock in
consideration for services rendered to the Company.

Item 2.     Management's Discussion and Analysis or Plan of Operations.

As used in this Form 10-QSB, references to the "Company," the "Registrant,"
"we," "our" or "us" refer to Bloodhound Search Technologies, Inc. unless the
context otherwise indicates.

                                       10
<PAGE>

Forward-Looking Statements

This Form 10-QSB contains forward-looking statements. For this purpose, any
statements contained in this Form 10-QSB that are not statements of historical
fact may be deemed to be forward-looking statements. You can identify
forward-looking statements by those that are not historical in nature,
particularly those that use terminology such as "may," "will," "should,"
"expects," "anticipates," "contemplates," "estimates," "believes," "plans,"
"projected," "predicts," "potential," or "continue" or the negative of these
similar terms. In evaluating these forward-looking statements, you should
consider various factors, including the following: (a) those risks and
uncertainties related to general economic conditions, (b) whether we are able to
manage our planned growth efficiently and operate profitable operations, (c)
whether we are able to generate sufficient revenues or obtain financing to
sustain and grow our operations, (d) whether we are able to successfully fulfill
our primary requirements for cash. The Company's actual results may differ
significantly from the results projected in the forward-looking statements. The
Company assumes no obligation to update forward-looking statements, except as
otherwise required under the applicable federal securities laws.

Overview

The Company was incorporated under the laws of the state of Nevada on March 20,
1996 and made a name change to "Safe Idea, Inc." on October 27, 2000 and to
"Bloodhound Search Technologies, Inc." on December 20, 2005 to better reflect
changes in the business operations in which it intends to engage.

After its inception in 1996, the Company engaged in providing a repository of
information, an interactive forum, and a comprehensive directory of services
catering to entrepreneurs, enabling such entrepreneurs to publish their business
plans and share their ideas in a collaborative environment. In 2006 the Company
acquired the license for the use, distribution and sub license of certain
software, materials and services for the development of an internet search
engine known as "Strategic Information Monitoring System" (SIMS). In 2004 the
Company acquired a license for the distribution of certain products made with a
fire retarding fabric known under the trademarked name "Wetwool".

Strategic Information Monitoring System License

On January 20, 2006, the Company entered into a License Agreement with Pekka
Tolonen, pursuant to which Mr. Tolonen granted to the Company a license to use
and sublicense certain software and other materials related to a search engine
known as Strategic Information Monitoring System ("SIMS"). SIMS is currently
available for sale to the public, and in March 2006, the Company signed
agreements with two customers for the sales of SIMS. A second generation version
of SIMS is currently under development and is not yet available for sale or use
by the public.

SIMS is a type of software program that is commonly known as a search engine. A
search engine helps internet users find internet web sites on a given subject.
SIMS differs from other internet search engines because it continuously
retrieves information from the internet on the subjects in which the user is
interested based on keywords supplied by the user. SIMS will have the capability
to continuously monitor more than 10,000 news websites or the web sites of the
user's preference. SIMS will be able to scan the relevant information sources 24
hours a day. After retrieving the relevant information, SIMS will be able to
organize it automatically on a personal portal page that looks like an online
news website.

                                       11
<PAGE>

The license permits Bloodhound to use, including sub-license, the licensed
materials for the following purposes: (a) the provision of services for the
maintenance, support, installation, marketing, distribution, licensing,
sublicensing, and customer and technical support of the licensed materials; (b)
Bloodhound's internal use; and (c) customization, modification, and additions to
the licensed materials. The license is limited to the United States of America,
Canada, Australia, China, and Hong Kong.

The license is for a perpetual term and is irrevocable, unless terminated
earlier in accordance with the license agreement. The license agreement may be
terminated by either party at any time after January 20, 2007 upon 60 days'
prior written notice if either (a) certain services of Mr. Tolonen are not
utilized by at least ten customers of the Company or (b) the Company is not
active in marketing, providing, or selling the services of Mr. Tolonen for a
continuous period of more than six months.

In consideration for the license, the Company issued to Mr. Tolonen 1,500,000
shares of the Company's common stock (post split). The shares were offered and
issued in reliance on an exemption from the registration requirements of United
States federal and state securities laws under Regulation S promulgated under
the Securities Act of 1933, as amended. Mr. Tolonen represented to the Company
that he is not a United States person (as defined in Regulation S) or an
affiliate (as defined in Rule 501(b) under the Securities Act) of the company
and is not acquiring the shares for the account or benefit of a United States
person. Mr. Tolonen further represented that at the time of the origination of
contact concerning the License Agreement and the date of the execution and
delivery of the License Agreement, Mr. Tolonen was outside of the United States.

Wetwool License

On September 29, 2004, the Company acquired from Cease-Fire Technologies, Pty.
Ltd., a private Australian corporation, a license to distribute technologies
harnessing a passive fire control coating material with the trademark name
"Wetwool" to include the territories of the United States and Canada. In
consideration therefore, the Company issued 3,000,000 shares of common stock
(1,500,000 post split) to Cease-Fire Technologies, Pty. Ltd. Examples of
products and technologies developed by Cease-Fire Technologies include
intumescent paint for safety applications, fire retardant clear coating for
timber, wildfire emergency erect curtain, fabric fire retardants, and passive
fire retardant coating for any porous surface. Wetwool is a proprietary,
trademarked, non-woven wool fabric impregnated with super-absorbent polymer
crystals.

                                       12
<PAGE>

On March 8, 2005, this exclusive license came into full force and effect upon
delivery of the "Wetwool" coating material with its proprietary specifications
and manufacturing know-how by Cease-Fire Technologies, Pty. Ltd., and the
3,000,000 shares of common stock (1,500,000 post split) under the provisions of
the Act to Cease-Fire Technologies, Pty. Ltd. were thereby ratified to be
validly issued. Since the acquisition of the license, the Company has been
researching various manufacturing and marketing groups to gather information to
implement the Company's business plan. To date, the Company has not consummated
any agreements with manufacturers and marketing groups and has had no sales to
date.

Plan of Operation

The Company had limited operations and no revenues during the fiscal quarter
ended March 31, 2006. In March 2006, the Company signed agreements with two
customers for the sale of SIMS and over the next twelve months it intends to
continue its efforts to sell SIMS. The Company also intends to continue its
efforts to develop a second generation version of SIMS.

Results of Operation

During the three months ended March 31, 2006, the Company commenced selling its
SIMS product. The Company recorded revenues of nil during the first quarter of
2006 from the sales of SIMS. During the three months ended March 31, 2005, the
Company had no revenues.

During the three months ended March 31, 2006, the Company's net operating
expenses were $398,645. Such expenses consisted primarily of advertising and
marketing. Operating expenses for the three months ended March 31, 2005 were
$3,604.

Liquidity and Capital

The Company has $202,633 in cash and payables of $22,522 for net working capital
of $180,111 at March 31, 2006, compared to net working capital of $211,442 at
December 31, 2005.

Off-Balance Sheet Arrangements

None.

Item 3. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our disclosure controls and procedures are designed to ensure that information
required to be disclosed in reports that we file or submit under the Securities
Exchange Act of 1934 is recorded, processed, summarized and reported within the
time periods specified in the rules and forms of the United States Securities
and Exchange Commission. Our Chief Executive Officer and Chief Financial Officer
have reviewed the effectiveness of our "disclosure controls and procedures" (as
defined in the Securities Exchange Act of 1934 Rules 13a-14(c) and 15d-14(c))
within the end of the period covered by this Quarterly Report on Form 10-QSB and
have concluded that the disclosure controls and procedures are effective to
ensure that material information relating to the Company is recorded, processed,
summarized, and reported in a timely manner. There were no significant changes
in our internal controls or in other factors that could significantly affect
these controls subsequent to the last day they were evaluated by our Chief
Executive Officer and Chief Financial Officer.

                                       13
<PAGE>

Changes in Internal Controls over Financial Reporting

There have been no changes in the Company's internal control over financial
reporting during the last quarterly period covered by this report that have
materially affected, or are reasonably likely to materially affect, the
Company's internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings.

There are no pending legal proceedings to which the Company is a party or in
which any director, officer or affiliate of the Company, any owner of record or
beneficially of more than 5% of any class of voting securities of the Company,
or security holder is a party adverse to the Company or has a material interest
adverse to the Company. The Company's property is not the subject of any pending
legal proceedings.

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

On April 5, 2006, the Company issued 850,000 restricted shares of its common
stock to John Abraham, who is the Chief Operating Officer of the Company. Such
shares were issued in consideration for services to the Company by Mr. Abraham
in his capacity as an officer. The shares were issued under Section 4(2) of the
Securities Act of 1933, as amended, and/or Regulation D promulgated by the
Securities and Exchange Commission.

On March 31, 2006, the Company issued 600,000 restricted shares of its common
stock to Robert Horn, who is a director and the Chief Financial Officer and
Secretary of the Company. Such shares were issued in consideration for services
to the Registrant by Mr. Horn as director and officer. The shares were issued
under Section 4(2) of the Securities Act of 1933, as amended, and/or Regulation
D promulgated by the Securities and Exchange Commission.

Between January 26, 2006 and March 14, 2006, the Company issued 690,000
restricted shares of its common stock to various non-affiliated third parties
for an aggregate cash investment of $345,000. The shares were issued under
Section 4(2) of the Securities Act of 1933, as amended, and/or Regulation D
promulgated by the Securities and Exchange Commission.

                                       14
<PAGE>

On January 23, 2006, the Company issued 500,000 shares of its common stock to
David Campbell, the Chief Executive Officer of the Company. Such shares were
issued in consideration for services rendered to the Company by Mr. Campbell as
Chief Executive Officer. The shares were issued under Section 4(2) of the
Securities Act of 1933, as amended, and/or Regulation D promulgated by the
Securities and Exchange Commission.

On January 20, 2006, the Company issued to Pekka Tolonen 1,500,000 shares of the
Company's common stock. In consideration therefor, Mr. Tolonen granted to the
Company an irrevocable, perpetual license to use certain software and other
materials pursuant to a License Agreement, dated January 20, 2006, between the
Company and Mr. Tolonen. Such license permits the Company to use, including
sub-license, the licensed materials for the following purposes: (a) the
provision of services for the maintenance, support, installation, marketing,
distribution, licensing, sublicensing, and customer and technical support of the
licensed materials; (b) the issuer's internal use; and (c) customization,
modification, and additions to the licensed materials. The license is limited to
the United States of America, Canada, Australia, China, and Hong Kong. The
license is for a perpetual term and is irrevocable, unless terminated earlier in
accordance with the license agreement. The shares were offered and issued in
reliance on an exemption from the registration requirements of United States
federal and state securities laws under Regulation S promulgated under the
Securities Act of 1933, as amended.

Subsequent Issuances

On April 18, 2006, the Company issued 260,000 shares of common stock to an
accredited investor and non affiliate of the Company in consideration for an
investment of $117,000. The issuance was pursuant to Section 4(2) of the
Securities Act of 1933, as amended.

On May 5, 2006, the Company received an agreement from an assignee desiring to
convert $840, which represented a portion of a Promissory Note in the aggregate
principal amount of $5,000 which had been issued by the Company in March 20,
2002. Said note had subsequently been assigned to five assignees. The Company
issued 420,000 shares pursuant to the terms of the Promissory Note to the
assignee.

On May 8, 2006, the Company issued 50,000 shares of common stock to Phoenix IR
Associates, Inc. pursuant to Section 4(2) of the Securities Act of 1933, as
amended. The shares were issued in consideration for services rendered to the
Company.

Purchases of equity securities by the issuer and affiliated purchasers.

None.

Item 3. Defaults Upon Senior Securities.

None.

                                       15
<PAGE>

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

There was no matter submitted to a vote of security holders during the fiscal
quarter ended March 31, 2006.

Item 5. Other Information.

None.

Item 6. Exhibits

Exhibit No.     Description

31.1            Rule 13a-14(a)/15d14(a)
                Certifications of Principal Executive Officer

31.2            Rule 13a-14(a)/15d14(a)
                Certifications of Principal Executive Officer

32.1            Section 1350 Certifications


                                       16
<PAGE>

                                   SIGNATURES

      In accordance with to requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


Dated: May 15, 2006


                                        BLOODHOUND SEARCH
                                        TECHNOLOGIES, INC.


                                        By: /s/ David Campbell
                                           -------------------------------------
                                        Name:   David Campbell
                                        Title:  Chief Executive Officer,
                                        President and Director


                                        By: /s/ Robert Horn
                                           -------------------------------------
                                        Name:   Robert Horn
                                        Title:  Chief Financial Officer,
                                                Secretary, and Director
                                                (Principal Financial Officer)


                                       17