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 September 30, 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                               (IRS Employer
      of incorporation)                                  Identification No.)

                       c/o David Lubin & Associates, PLLC
                            26 East Hawthorne Avenue
                             Valley Stream, NY 11580
                    -----------------------------------------
                    (Address of principal executive offices)

                                 (516) 887-8200
                    -----------------------------------------
                (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 November 14, 2006:
11,158,144.

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

PART I                                                                        3
Item 1. Financial Statements                                                  3
Item 2. Management's Discussion and Analysis or Plan of Operation             7
Item 3 Controls and Procedures                                               11
PART II                                                                      11
Item 1. Legal Proceedings                                                    11
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds          11
Item 3. Defaults Upon Senior Securities                                      13
Item 4. Submission of Matters to a Vote of Security Holders                  13
Item 5. Other Information                                                    13
Item 6. Exhibits                                                             14


<PAGE>


PART I - FINANCIAL INFORMATION

Item 1.     Financial Statements.

                      Bloodhound Search Technologies, Inc.
                           (Development Stage Company)
                                 BALANCE SHEETS
                                   (unaudited)

<TABLE>
<CAPTION>
                                                        September      December
                                                           30,            31,
                                                           2006          2005
                                                        -----------   ------------
<S>                                                     <C>           <C>
ASSETS
Current assets
Cash                                                    $      453    $    27,751
Accounts receivable                                          4,000             --
Note and accrued interest receivable                            --        202,150
                                                         ----------    -----------
                                                         ----------    -----------
   Total current assets                                      4,453        229,901
Licenses, net of amortization of $50,000 and $3,750        295,000         11,250
                                                         ----------    -----------
                                                         ----------    -----------
   Total assets                                         $  299,453    $   241,151
                                                         ==========    ===========
                                                         ==========    ===========

LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable - related party                        $   11,576    $    11,576
Accounts payable                                             4,968            945
Convertible note payable                                     3,200          5,938
Stock payable                                               11,250             --
                                                         ----------    -----------
                                                         ----------    -----------
   Total liabilities                                        30,994         18,459
                                                         ----------    -----------

STOCKHOLDERS' EQUITY
Common stock, par value $0.001, 25,000,000
 shares authorized, $0.001 par value,
 11,158,144 and 5,775,008 shares issued and outstanding     11,158          5,775
Additional paid-in capital                               2,748,644        470,802
Deficit accumulated during the development stage         (2,491,343)     (253,885)
                                                         ----------    -----------
                                                         ----------    -----------
Total stockholders' equity                                 268,459        222,692
                                                         ----------    -----------
                                                         ----------    -----------
Total liabilities and stockholders' equity              $  299,453    $   241,151
                                                         ==========    ===========
</TABLE>


                                       3
<PAGE>


                         Bloodhound Search Technologies,
                                      Inc.
                           (Development Stage Company)
                                  STATEMENTS OF
                                   OPERATIONS
               Three and Nine Months Ended September 30, 2006 and
           2005 and the Period from March 20, 1996 (Date of Inception)
                              to September 30, 2006
                                   (unaudited)

<TABLE>
<CAPTION>
                                                                                                                     From
                                                                                                           March 20, 1996
                                                                                                      (Date of Inception)
                                                                                                         to September 30,
                                           Three Months                      Nine Months                           2006
                                           ------------                      -----------                           ----
                                        2006           2005              2006             2005
                                        ----           ----              ----             ----

<S>                                <C>              <C>             <C>                <C>           <C>
Revenue                            $           -    $         -     $          8,000   $          -  $        8,000
General and administrative
expenses                                  167,872          5,138           2,248,170         11,610       2,320,569
Impairment of goodwill                          -              -                   -              -         205,922
                                   --------------- -------------- ------------------- -------------- --------------
Net loss from operations                (167,872)        (5,138)         (2,240,170)       (11,610)     (2,518,491)
   Interest expense                             -              -                 126              -           1,064
   Interest income                              -              -             (2,838)              -         (5,083)
   Settlement of debt                           -              -                   -              -        (23,129)
                                   --------------- -------------- ------------------- -------------- ---------------
Net loss                              $ (167,872)     $  (5,138)  $       (2,237,458) $     (11,610)  $ (2,491,343)
                                   =============== ============== =================== ============== ==============

Basic  and  diluted  net loss per
share                                  $   (0.02)      $  (0.00)        $     (0.23)      $  (0.00)
                                   =============== ============== =================== ==============
Basic   and   diluted    weighted      11,020,663      5,775,008           9,710,180      5,775,008
average shares outstanding
                                   =============== ============== =================== ==============
</TABLE>


                                       4
<PAGE>


                      Bloodhound Search Technologies, Inc.
                           (Development Stage Company)
                               STATEMENTS OF CASH
                             FLOWS Nine Months Ended
                       September 30, 2006 and 2005 and the
                           Period from March 20, 1996
                             (Date of Inception) to
                               September 30, 2006
                                   (unaudited)

<TABLE>
<CAPTION>
                                                                                               March 20,
                                                                                               1996 to
                                                                    September     September    September
                                                                     30, 2006     30, 2005      30, 2006
                                                                    -----------   ----------   -----------
                                                                     ----------    ---------    ----------
<S>                                                                 <C>           <C>          <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss                                                            $(2,237,458 ) $ (11,610  ) $(2,491,343 )
Adjustments to reconcile net loss to net cash used in operating
  activities:
Amortization                                                            46,250        2,250        51,667
Domain name write off                                                       --           --         3,333
Impairment of goodwill                                                      --           --       205,922
Stock warrants issued for services                                      58,861           --        58,861
Stock issued for services                                            1,427,500           --     1,428,750
Change in accounts receivable                                           (4,000  )     2,318        (4,000  )
Change in stock payable                                                 11,250           --        11,250
Change in accounts payable                                               5,235           --        21,544
                                                                     ----------    ---------    ----------
                                                                     ----------    ---------    ----------
Net cash used in operating activities                                 (692,362  )    (7,042  )   (714,016  )
                                                                     ----------    ---------    ----------
                                                                     ----------    ---------    ----------

CASH FLOWS FROM INVESTING ACTIVITIES
Repayment of advances                                                  200,000           --       200,000
Advances - First Light Communications                                       --           --      (200,000  )
Purchase domain name                                                        --           --        (5,000  )
                                                                     ----------    ---------    ----------
                                                                     ----------    ---------    ----------
Net cash provided by (used in) investing activities                    200,000           --        (5,000  )
                                                                     ----------    ---------    ----------
                                                                     ----------    ---------    ----------

CASH FLOWS FROM FINANCING ACTIVITIES
Contributions to capital                                                    --           --         6,905
Proceeds from sale of common stock                                     465,064           --       712,564
                                                                     ----------    ---------    ----------
                                                                     ----------    ---------    ----------
Net cash provided by financing activities                              465,064           --       719,469
                                                                     ----------    ---------    ----------
                                                                     ----------    ---------    ----------
Net change in cash                                                     (27,298  )    (7,042  )        453
Cash at beginning of period                                             27,751      234,823            --
                                                                     ----------    ---------    ----------
                                                                     ----------    ---------    ----------
Cash at end of period                                               $      453    $ 227,781    $      453
                                                                     ==========    =========    ==========
                                                                     ==========    =========    ==========

SCHEDULE OF NONCASH OPERATING ACTIVITIES
Stock issued for convertible debt                                   $    1,800    $      --    $    1,800
Stock issued for license                                               330,000           --       330,000
</TABLE>


                                       5
<PAGE>


                      Bloodhound Search Technologies, Inc.
                               (Development Stage
                                    Company)
                          NOTES TO FINANCIAL STATEMENTS
                               September 30, 2006

NOTE 1 - BASIS OF PRESENTATION
The accompanying unaudited interim financial statements of Bloodhound Search
Technologies, Inc. ("BSTI"), have been prepared in accordance with accounting
principles generally accepted in the United States of America and the rules of
the Securities and Exchange Commission, and should be read in conjunction with
the audited financial statements and notes thereto contained in BSTI's Form
10-KSB. In the opinion of management, all adjustments, consisting of normal
recurring adjustments, necessary for a fair presentation of financial position
and the results of operations for the interim periods presented have been
reflected herein. The results of operations for interim periods are not
necessarily indicative of the results to be expected for the full year. Notes to
the financial statements that would substantially duplicate the disclosure
contained in the audited financial statements for fiscal year 2005, as reported
in the Form 10-KSB, have been omitted.

Revenue Recognition. BSTI recognizes revenue when persuasive evidence of an
arrangement exists, services have been rendered, the sales price is fixed or
determinable, and collectibility is reasonably assured. This typically occurs
when the services are performed.

NOTE 2 - ACQUISITION OF LICENSE AGREEMENT
On January 20, 2006, BSTI acquired certain licensed materials related to
strategic information monitoring systems in exchange for 1,500,000 shares of
common stock valued at $330,000. For the nine months ended September 30, 2006,
BSTI recorded $44,000 of amortization expense related to this license. The
license is being amortized over a 5 year life.

NOTE 3 - STOCK PAYABLE
As of September 30, 2006, a consultant was due 25,000 shares of common stock
valued at $11,250 for services rendered during the quarter.

NOTE 4 - CONVERTIBLE NOTE PAYABLE
Certain persons have a demand note payable due them of $5,000. The note can be
converted to 5,000,000 common shares at any time at the option of the holder.
During the nine months ended September 30, 2006, $1,800 of the note was
converted to 900,000 shares of common stock, leaving a remaining balance of
$3,200. BSTI has accrued $1,064 of interest related to this note.

NOTE 5 - CAPITAL STOCK
During the three months ended March 31, 2006 BSTI issued:
633,128 shares of common stock for cash of $316,564;
1,500,000 shares of common stock valued at $330,000 to acquire the strategic
information monitoring system license; and 500,000 shares of common stock valued
at $110,000 to its CEO for services.

During the three months ended June 30, 2006 BSTI issued:
260,000 shares of common stock for cash of $117,000;
50,000 shares of common stock valued at $11,000 for shareholder communication
services; 1,450,000 shares of common stock valued at $1,306,500 to directors for
services; and 900,000 shares of common stock to convert $1,800 of notes payable.

During the three months ended September 30, 2006 BSTI
issued: 90,000 shares of common stock for cash of $31,500; 120,000 warrants to
purchase BSTI common stock at $1.15 per share valued at $47,422 to a consultant
for services. $47,422 was expensed during the quarter related to these warrants;
and 100,000 warrants to purchase BSTI common stock at $0.40 per share valued at
$15,252 to a consultant for services. $11,439 was expensed during the quarter
related to these warrants.


                                       6
<PAGE>


NOTE 6 - STOCK SPLIT

On January 17, 2006, BSTI effected a 2:1 reverse stock split. For the purposes
of the financial statements, share and per share amounts are shown as if the
stock split had occurred on the first day of the earliest period presented.

NOTE 7 - COMMITMENT

On August 1, 2006, BSTI hired a consultant for services. The consultant will be
issued 6,000 shares of BSTI common stock per month from October 2006 through
September 2007 as long as services continue to be provided.

NOTE 8 - SUBSEQUENT EVENTS In October 2006, BSTI:
Issued 160,000 shares of common stock for cash of $48,000;
Granted 300,000 options to purchase its common stock valued at $86,355 to an
employee.

Item 2.     Plan of Operations.

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

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. BSTI's actual results may differ
significantly from the results projected in the forward-looking statements. BSTI
assumes no obligation to update forward-looking statements, except as otherwise
required under the applicable federal securities laws.

OVERVIEW
----------------

BSTI was incorporated in Nevada on March 20, 1996. It changed its name 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.


                                       7
<PAGE>


After its inception in 1996, BSTI 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 2004, BSTI
acquired a license for the distribution of certain products made with a fire
retarding fabric known under the trademarked name "Wetwool". In 2006, BSTI
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).

Strategic Information Monitoring System License
-----------------------------------------------------------

On January 20, 2006, BSTI entered into a License Agreement with Pekka Tolonen,
pursuant to which Mr. Tolonen granted to BSTI 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, BSTI closed on two 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.

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 BSTI or (b) BSTI is not active in
marketing, providing, or selling the services of Mr. Tolonen for a continuous
period of more than six months.


                                       8
<PAGE>


In consideration for the license, BSTI issued to Mr. Tolonen 1,500,000 shares of
BSTI'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 BSTI 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 BSTI 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, BSTI 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, BSTI issued 1,500,000 shares of common stock 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.

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
1,500,000 shares of common stock 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, BSTI has been researching various manufacturing and
marketing groups to gather information to implement BSTI's business plan. To
date, BSTI has not consummated any agreements with manufacturers and marketing
groups and has had no sales to date.

PLAN OF OPERATION
------------------------------

In March 2006, BSTI had closed on two sales of SIMS, but it had limited
operations and no revenues during the fiscal quarter ended September 30, 2006.
Over the next twelve months BSTI intends to continue its efforts to sell SIMS.
BSTI also intends to continue its efforts to develop a second generation version
of SIMS.

RESULTS OF OPERATION
-----------------------------------

During the three months ended September 30, 2006, BSTI had no revenues, and it
had none during the corresponding period of the previous fiscal year. BSTI's
operating expenses increased by $162,734 from $5,138 for the three months ended
September 30, 2005, to $167,872 for the three months ended September 30, 2006.
Such increase in expenses consists primarily of advertising and marketing
expenses that have been incurred following BSTI's commencement of the marketing
of its SIMS program in March 2006.


                                       9
<PAGE>


During the nine months ended September 30, 2006, BSTI had $8,000 of revenues,
compared to no revenue during the corresponding period of the previous fiscal
year. Such increase in revenues resulted from the closing on two sales of SIMS
in March, 2006. BSTI's operating expenses increased by $2,236,560 from $11,610
for the nine months ended September 30, 2005, to $2,248,170 for the nine months
ended September 30, 2006. Such increase in expenses consists primarily of stock
for services and advertising and marketing expenses that have been incurred
following BSTI's commencement of the marketing of its SIMS program in March
2006.

Liquidity and Capital
-------------------------

As of September 30, 2006, BSTI had $453 in cash. Subsequent to such date, BSTI
raised funds from the sale of shares of its common stock, and as of November 13,
2006, BSTI had $4,907 in cash. BSTI believes that such funds will not be
sufficient to satisfy BSTI's cash requirements for the next twelve (12) months.
There is no assurance that the funds needed will be raised. There can be no
assurance that we will be able to obtain additional financing if and when needed
or that, if available, financing will be on acceptable terms. Our plans to deal
with this uncertainty include raising additional capital or entering into a
strategic arrangement with a third party. There can be no assurance that our
plans can be realized. Additional equity financings may be dilutive to holders
of our common stock and debt financing, if available, and may involve
significant payment obligations and covenants that restrict how we operate our
business.

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 were not effective to
ensure that material information relating to BSTI is recorded, processed,
summarized, and reported in a timely manner because of adjustments required by
our auditors in the area of equity . Specifically, our independent auditors
identified deficiencies in our internal controls and disclosure controls related
to expense recognition on issuances of stock and warrants for services. We are
continuing our efforts to improve and strengthen our control processes and
procedures to fully remedy these deficiencies. Our management and directors will
continue to work with our auditors and other outside advisors to ensure that our
controls and procedures are adequate and effective.


                                       10
<PAGE>


CHANGES IN INTERNAL CONTROLS OVER FINANCIAL REPORTING
----------------------------------------------------------------------------

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.

 PART II. OTHER INFORMATION

Item 1.     Legal Proceedings.

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

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

On July 15, 2006, BSTI granted to John Hibbs, a consultant of BSTI, an aggregate
of 100,000 shares of the common stock of the Company, of which 25,000 shares
vested or shall vest, as the case may be, on each of the following dates: July
15, 2006; October 31, 2006; January 31, 2007; and April 31, 2007. Such shares
were granted pursuant to and in accordance with the Consulting Agreement, dated
July 15, 2006, between Mr. Hibbs and BSTI, in consideration for certain
marketing consulting services rendered by Mr. Hibbs pursuant thereto. The grant
of the shares was made pursuant to Section 4(2) of the Securities Act of 1933,
as amended.

On August 1, 2006, BSTI granted to Frederic Dang Ngoc, a consultant of BSTI, an
aggregate of 72,000 shares of the common stock of BSTI, of which 6,000 shares
vested or shall vest, as the case may be, on the first business day of October,
2006, and on the first business day of each subsequent month up to and including
September, 2007. Such shares were granted pursuant to and in accordance with the
Consulting Agreement, dated August 1, 2006, between Mr. Ngoc and BSTI, in
consideration for certain technological consulting services rendered by Mr. Ngoc
pursuant thereto. The grant of the shares was made pursuant to Section 4(2) of
the Securities Act of 1933, as amended.


                                       11
<PAGE>


On August 7, 2006, BSTI sold and issued 90,000 shares of its common stock to
Trinity Global Networks, L.P. at a purchase price of $0.35 per share (an
aggregate of $31,500) pursuant to and in accordance with the Regulation D
Subscription Agreement, dated August, 2006, between BSTI and Trinity Global
Networks, L.P. The shares were offered, sold, and issued pursuant to an
exemption from registration pursuant to Regulation D promulgated by the
Securities and Exchange Commission. Trinity Global Networks, L.P. represented to
BSTI that it was an accredited investor. There were no underwriters or
broker-dealers involved in the private placement and no underwriting discounts
or commissions were paid.

On August 23, 2006, BSTI granted to Murdock Capital Partners Corp., a consultant
of BSTI, 120,000 warrants, each of which provides the holder thereof the right
to purchase one share of common stock of BSTI until August 31, 2011, at a
purchase price of $1.15. Such warrants were granted pursuant to and in
accordance with the Contract for Investor Relations and Corporate Advisory
Agreement, dated August 23, 2006, between Murdock Capital Partners Corp. and
BSTI, in consideration for certain consulting services rendered by Murdock
Capital Partners Corp. pursuant thereto. The grant of the warrants was made
pursuant to Section 4(2) of the Securities Act of 1933, as amended.

On October 12, 2006, BSTI sold and issued 160,000 shares of its common stock to
Mindnet Investments Inc. at a purchase price of $0.30 per share (an aggregate of
$48,000) pursuant to and in accordance with the Regulation S Subscription
Agreement, dated October, 2006, between BSTI and Mindnet Investments Inc. The
shares were offered, sold, and issued pursuant to an exemption from registration
pursuant to Regulation S promulgated by the Securities and Exchange Commission.
Mindnet Investments Inc. represented to BSTI that it was a corporation
incorporated outside the United States, BSTI did not make any offers in the
United States, and there were no selling efforts in the United States. There
were no underwriters or broker-dealers involved in the private placement and no
underwriting discounts or commissions were paid.

On October 17, 2006, in an agreement effective as of July 5, 2006, BSTI agreed
to issue to Intellectual Capital Inc., a consultant of BSTI, a warrant on
October 17, 2006, and on the last business day of each six month period
following January 31, 2007, so long as Intellectual Capital Inc. continues to
serve as a consultant of BSTI. Each warrant shall provide the holder thereof the
right to purchase up to 100,000 shares of common stock of BSTI for a period of
two years. The warrant granted on October 17, 2006, shall not be exercisable
until January 31, 2007, and shall have an exercise price equal to $0.40 per
share. The subsequent warrants shall have an exercise price equal to $0.50 per
share. Such warrants were granted pursuant to and in accordance with the
Advisory Agreement, dated October 17, 2006, between Intellectual Capital Inc.
and BSTI, in consideration for certain consulting services rendered by
Intellectual Capital Inc. pursuant thereto. The grant of the warrants was made
pursuant to Section 4(2) of the Securities Act of 1933, as amended.


                                       12
<PAGE>


On October 20, 2006, BSTI granted to Brian Wade Bickford, BSTI's Chief Executive
Officer, an aggregate of 300,000 stock options, of which 150,000 stock options
shall vest on October 22, 2006, and the remaining 150,000 stock options shall
vest on January 31, 2007. Each stock option shall give Mr. Bickford the right to
purchase one share of BSTI's common stock at a purchase price of $0.40,
exercisable for two years after the date of their issuance. Such stock options
were granted pursuant to and in accordance with the Employment Agreement, dated
October 20, 2006, between Mr. Bickford and BSTI, in consideration for services
rendered by Mr. Bickford as Chief Executive Officer of BSTI pursuant thereto.
The grant of the stock options was made pursuant to Section 4(2) of the
Securities Act of 1933, as amended.

Purchases of equity securities by the issuer and affiliated purchasers
--------------------------------------------------------------------------------
None.

Item 3.     Defaults Upon Senior Securities.

None.

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 September 30, 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 Financial Officer

32.1         Section 1350 Certifications


                                       13
<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: November 13, 2006

                BLOODHOUND SEARCH TECHNOLOGIES, INC.

                By:       /s/ Brian Wade Bickford
                          Name:  Brian Wade Bickford
                          Title: Chief Executive Officer
                                 (Principal Executive Officer)

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