UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                        RELIANT HOME WARRANTY CORPORATION

                                  FORM 10-QSB/A
                                 Amendment No. 1
(Mark One)

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

                      For the quarter ended March 31, 2007
                                           -----------------

[ ]       TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

            For the transition period from __________ to ____________

                        Commission files number 000-29827
                                                ---------

                        RELIANT HOME WARRANTY CORPORATION
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

         Florida                                            65-0656668
-------------------------------                        -----------------------
(State or other jurisdiction of                           (IRS Employer
incorporation or organization)                          Identification No.)


                            Suite 250, 350 Bay Street
                            Toronto, Ontario M5H 2S6
                      ------------------------------------
                    (Address of principal executive offices)

                                  416 445-9500
                     ---------------------------------------
                           (Issuer's telephone number)

                       APPICABLE ONLY TO CORPORATE ISSUERS

STATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF COMMON
EQUITY,   AS  OF  THE  LATEST   PRACTICABLE   DATE:   May  18,   2007-98,245,277
                           ---------------------------

                                Explanatory Note
                                ----------------

This  Amendment  No. 1 on Form 10-QSB/A  amends the Quarterly  Report of Reliant
Home Warranty  Corporation for the quarter enced March 31, 2007 originally filed
with the  Securities  and Exchange  Commission  on May 18, 2007.  The Company is
filing this amendment to:

1.   Restate our first quarter 2007 financial statements to reflect changes made
     to the Company's  December 31, 2006  financial  statements  included in its
     Amended Form 10-KSBA filed on June 19, 2007.

2.   Label the "March 31, 2007" and "cumulative  from inception"  columns of our
     financial statements "as restated."


<PAGE>

                                TABLE OF CONTENTS


                                                                            Page
PART I
Item 1. Financial Statements                                                  3
Item 2. Management's Discussion and Analysis or Plan of Operation            13
Item 3 Controls and Procedures                                               18
PART II
Item 1. Legal Proceedings                                                    20
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds          20
Item 3. Defaults Upon Senior Securities                                      20
Item 4. Submission of Matters to a Vote of Security Holders                  20
Item 5. Other Information                                                    20
Item 6. Exhibits                                                             20


                                      -2-
<PAGE>



                         PART I - FINANCIAL INFORMATION

Item 1      Financial Statements
<TABLE>
<CAPTION>

                                    Reliant Home Warranty Corporation
                                      (a development stage company)
                                       Consolidated Balance Sheet


                                                                                         March 31, 2007
                                                                                           (unaudited)
                                                                                          (as restated)
                                                 Assets
<S>                                                                                             <C>
Current assets
      Cash                                                                              $       70,060
      Prepaid expenses and other current assets                                                 90,812
                                                                                        ----------------
Total current assets                                                                           160,872
                                                                                        ----------------

      Mortgages receivable                                                                     461,946
      Other assets                                                                              13,965
                                                                                        ----------------
Total other assets                                                                             475,911
                                                                                        ----------------

Total assets                                                                            $      636,783
                                                                                        ================


                                        Liabilities and Shareholders' Equity (Deficit)
Current liabilities
      Accounts payable and accrued liabilities                                          $      165,174
      Mortgages payable                                                                        439,327
      Loan payable  to related party                                                         1,024,938
      Due to related parties                                                                   192,848
                                                                                        ----------------
Total current liabilities                                                                    1,822,287
                                                                                        ----------------

Commitments & contingencies

                                                Shareholders' Equity (Deficit)
Common stock (note 3)
      $0.001 par value; 200,000,000 shares authorized
      98,245,277 shares issued and outstanding                                                  98,245
      Additional paid-in capital                                                             5,158,377
      Stock subscription receivable                                                            (25,646)
      Common stock purchase warrant                                                         (4,299,266)
      Accumulated deficit during the development stage                                     (10,739,913)
      Accumulated other comprehensive loss                                                      24,167
                                                                                        ----------------
Total shareholders' (deficit)                                                               (1,185,504)
                                                                                        ----------------

Total liabilities and shareholders' equity (deficit)                                    $      636,783
                                                                                        ================
</TABLE>

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


                                                   -3-
<PAGE>


<TABLE>
<CAPTION>

                                Reliant Home Warranty Corporation
                                  (a development stage company)
                              Consolidated Statements of Operations
               Periods ended March 31, 2007 and 2006 and cumulative from the period
                     January 21,2004 (date of inception) through Mar 31, 2007

                                                                               Cumulative for the
                                                                               Period Jan. 21, 2004
                                                 Three months ended March 31,  (date of inception)
                                                                                     through
                                                     2007            2006         Mar. 31, 2007
                                                                                  (as restated)
                                                -------------    -------------    -------------
<S>                                             <C>              <C>              <C>
Revenue                                         $        --    $       --       $        --
                                                -------------    -------------    -------------

Operating expenses:
     Wages & salaries                                  96,672             --            350,477
     Professional fees                                 15,022            2,599          268,063
     Amortization of loan costs                          --               --          5,356,034
     Consulting fees                                1,888,508        1,453,000        3,576,378
     Laurus fees                                         --               --          1,056,768
     General & administrative expenses                 22,163            2,894          213,968
                                                -------------    -------------    -------------

Total Operating Expenses                            2,022,365        1,458,493        9,764,920
                                                -------------    -------------    -------------


Loss from operations                               (2,022,365)      (1,458,493)      (9,764,920)
  Interest expense                                    (40,732)            --           (164,993)
                                                -------------    -------------    -------------
Loss from operations before income taxes           (2,063,097)      (1,458,493)      (9,929,913)

Provision for income taxes                               --               --               --
                                                -------------    -------------    -------------


Loss from continuing operations                    (2,063,097)      (1,458,493)      (9,929,913)

Discontinued operations                                  --               --           (810,000)
                                                -------------    -------------    -------------
Net loss                                        $  (2,063,097)   $  (1,458,493)   $ (10,739,913)
                                                =============    =============    =============

Foreign currency translation adjustments               21,751            8,447           24,167
                                                -------------    -------------    -------------

Total comprehensive loss                        $  (2,041,346)   $  (1,450,046)  $ (10,715,746)
                                                =============    =============    =============


Net loss per common share - Basic               $       (0.02)   $      (0.02)

Net loss per common share - Diluted
Weighted average number of shares               $       (0.02)   $      (0.02)

     outstanding during the period - Basic         96,445,455       80,775,499



     outstanding during the period - Diluted      132,573,741       80,775,499
                                                -------------    -------------


           The accompanying notes are an integral part of these financial statements
</TABLE>


                                      -4-
<PAGE>

<TABLE>
<CAPTION>

                        Reliant Home Warranty Corporation
                          (a development-stage company)
            Consolidated Statements of Shareholders' Equity (Deficit)
                 For the Periods from January 21, 2004 (date of
                        inception) through March 31, 2007
                                  (as restated)

[split table]

                                                               Additional     Stock
                                          Common Stock          Paid-In    Subscription
                                      Shares      Par Value     Capital     Receivable
                                    -----------  -----------  -----------  -----------
<S>                                   <C>        <C>          <C>          <C>
Balance January 21, 2004 (date of
inception)                            2,019,782  $     2,020  $    12,955  $      --
                                    -----------  -----------  -----------  -----------

     Foreign currency translation          --           --           --           --
     Net loss for 2004                     --           --           --           --
                                    -----------  -----------  -----------  -----------

Balance December 31, 2004             2,019,782        2,020       12,955         --
                                    -----------  -----------  -----------  -----------

     Shares issued for acquisition
       of 1604494 Ontario Inc        76,000,000       76,000      705,891         --
     Foreign currency translation          --           --           --           --
     Net loss for 2005                     --           --           --           --
                                    -----------  -----------  -----------  -----------

Balance December 31, 2005            78,019,782       78,020      718,846         --
                                    -----------  -----------  -----------  -----------

     Shares issued for consulting
     service                          8,000,000        8,000    1,432,000         --
     Issue warrant to Laurus               --           --           --           --
     Shares issued to Laurus          2,167,987        2,168    1,056,102         --
     Shares issued to Laurus             22,957           23       11,183         --
     Shares issued                      638,276          638       65,008      (25,646)
     Foreign currency translation          --           --           --           --
     Net loss for 2006                     --           --           --           --
                                    -----------  -----------  -----------  -----------

Balance December 31, 2006            88,849,002  $    88,849  $ 3,283,139  $   (25,646)
                                    ===========  ===========  ===========  ===========

     Shares issued for consulting
     service                          9,000,000        9,000    1,791,000          --
     Shares issued for consulting
     service                            250,000          250       42,250          --
     Shares issued                      146,275          146       41,988          --
     Foreign currency translation          --           --           --            --
     Net loss for three months 2007        --           --           --            --
                                    -----------  -----------  -----------   -----------
Balance March 31, 2007               98,245,277     $ 98,245  $ 5,158,377   $   (25,646)
                                    ===========  ===========  ===========   ===========
</TABLE>
    The accompanying notes are an integral part of these financial statements


                                      -5A-
<PAGE>
<TABLE>
<CAPTION>

                        Reliant Home Warranty Corporation
                          (a development-stage company)
            Consolidated Statements of Shareholders' Equity (Deficit)
                 For the Periods from January 21, 2004 (date of
                        inception) through March 31, 2007
                                  (as restated)

[continued]
                                                    Accumulated    Accumulated       Total
                                     Common Stock       Other     Deficit During Shareholders'
                                       Purchase    Comprehensive  Development       Equity
                                       Warrants    Income (Loss)     Stage        (Deficit)
                                     ------------   -----------   -----------    -----------
<S>                                                 <C>           <C>            <C>
Balance January 21, 2004 (date of
inception)                           $      --      $      --     $      --      $    14,975
                                     -----------    -----------   -----------    -----------

     Foreign currency translation           --             (696)         --             (696)
     Net loss for 2004                      --             --          (8,455)        (8,455)
                                     -----------    -----------   -----------    -----------

Balance December 31, 2004                   --             (696)       (8,455)         5,824
                                     -----------    -----------   -----------    -----------

     Shares issued for acquisition
       of 1604494 Ontario Inc               --             --            --          781,891
     Foreign currency translation           --           (5,335)         --           (5,335)
     Net loss for 2005                      --             --        (938,752)      (938,752)
                                     -----------    -----------   -----------    -----------

Balance December 31, 2005                   --           (6,031)     (947,207)      (156,372)
                                     -----------    -----------   -----------    -----------

     Shares issued for consulting
     service                                --             --            --        1,440,000
     Issue warrant to Laurus           4,299,266           --            --        4,299,266
     Shares issued to Laurus                --             --            --        1,058,270
     Shares issued to Laurus                --             --            --           11,206
     Shares issued                          --             --            --           40,000
     Foreign currency translation           --            8,447          --            8,447
     Net loss for 2006                      --             --      (7,729,609)   (3,430,343)
                                     -----------    -----------   -----------    -----------

Balance December 31, 2006            $(4,299,266)   $     2,416   $(8,676,816)   $(8,676,816)
                                     ===========    ===========   ===========    ===========

     Shares issued for consulting
     service                                 --            --            --        1,800,000
     Shares issued for consulting
     service                                 --            --            --           42,500
     Shares issued                           --            --            --           42,134
     Foreign currency translation            --          21,751          --           21,751
     Net loss for three months 2007          --            --      (2,063,097)    (2,063,097)
                                      -----------   -----------   -----------   ------------
Balance March 31, 2007                $(4,299,266)  $    24,167  $(10,739,913)   $(1,185,504)
                                      ===========   ===========   ===========   ============

    The accompanying notes are an integral part of these financial statements
</TABLE>

                                      -5B-
<TABLE>
<CAPTION>

                               Reliant Home Warranty Corporation
                                 (a development stage company)
                              Consolidated Statements Cash Flows
               Three Month Periods Ended March 31, 2007 and 2006 and Cumulative
             from the Period Jan 21, 2004 (date of inception) through Mar 31, 2007



                                                                                  Cumulative from
                                                      Three months ended Mar 31, inception through
                                                         2007           2006       Mar 31, 2007
                                                                                   (as restated)
                                                     ---------------------------------------------
Cash Flows from Operating Activities
<S>                                                   <C>           <C>            <C>
Net Loss                                              (2,063,097)   $(1,458,493)  $(10,739,913)
                                                     -----------    -----------    -----------
Adjustments to reconcile net loss to net cash
  used by operating activities:
      Issuance shares for consulting fee               1,842,500      1,440,000      3,282,500
      Issue warrant to Laurus                               --             --        4,299,266
      Discontinued operations                               --             --          810,000
      Change in working capital accounts:
            Accounts payable & accrued liabilities       (33,960)         7,664        165,174
            Prepaid expenses                             (10,278)          --          (90,812)
            Other assets                                  (8,816)          --          (13,965)
                                                     -----------    -----------    -----------
Net cash used by operating activities                   (273,651)       (10,829)    (2,287,750)
                                                     -----------    -----------    -----------

Cash flow from Investing Activities
                                                     -----------    -----------    -----------
      Mortgages receivable                                (4,809)          --          461,946
                                                     -----------    -----------    -----------

Cash Flow From Financing Activities:
      Loan payable to related party                       (6,204)          --        1,024,938
      Mortgages payable                                    4,675           --          439,327
      Proceed from sale of shares                         42,134           --           74,464
      Proceeds from related company debt                  38,351         10,781        192,848
                                                     -----------    -----------    -----------
                                                          78,956         10,781      1,731,577
                                                     -----------    -----------    -----------

Net Decrease in Cash                                    (199,504)           (48)       (94,227)
      Foreign exchange on cash balances                   21,751             48         24,167
                                                     -----------    -----------    -----------
                                                        (177,753)          --          (70,060)
                                                     -----------    -----------    -----------
Cash - beginning period                                  247,813           --             --
Cash - end of period                                 $    70,060    $      --      $    70,060


Supplemental disclosure -
      Interest paid                                  $    36,057    $      --      $   159,708
      Income taxes paid                              $      --      $      --      $      --

           The accompanying notes are an integral part of these financial statements
</TABLE>

                                            -6-
<PAGE>


                        Reliant Home Warranty Corporation
                          (a development stage company)
                          Notes to financial statements

                                 March 31, 2007
1.   Organization and Development Stage Activities

     Organization

     Reliant Home  Warranty  Corporation,  formerly  Dialex  Minerals  Inc, (the
     "Company") was  incorporated  in the State of Florida on December 18, 1995,
     under the trade name of Ronden Vending Corp. On March 24, 2005, the Company
     entered into a stock exchange agreement with BSA Group Limited, in trust as
     trustee for the stockholders of 1604494 Ontario Inc, an Ontario Corporation
     incorporated  on January  21,  2004.  Under  this  agreement,  the  Company
     exchanged  76,000,000  common shares for 100% of the issued and outstanding
     stocks of  1604494  Ontario  Inc.  As a result of the stock  exchange,  the
     Company  obtained  control over 1604494 Ontario Inc. Legally the Company is
     the  parent of  1604494  Ontario  Inc.,  however,  as a result of the stock
     exchange,  control of the combined  companies passed to the stockholders of
     1604494  Ontario Inc.,  which for  accounting  purposes is deemed to be the
     acquirer under reverse merger.  As such, the financial  statements  present
     the  financial  position as of March 31, 2007 and the results of operations
     for the three month  periods  ended  March 31,  2007 and 2006,  and for the
     period from inception (January 21, 2004) through March 31,2007,  of 1604494
     Ontario Inc. under the name of the Company. The reverse merger was recorded
     as a  recapitalization  of the Company,  with the net assets of the 1604494
     Ontario Inc. and the Company brought forward at their historical basis. The
     costs associated with the reverse merger were expensed as incurred.

     Development Stage Activities

     Upon  completion of the reverse  merger,  the Company changed the nature of
     its  business  and now offers a  proprietary  line of home  value  warranty
     programs,  designed  for sale to  purchasers  of  residential  real  estate
     (single family homes and condominiums).

2.   Summary of Significant Accounting Policies

     a)  Basis of Financial Statement Presentation

     The  accompanying  unaudited  consolidated  financial  statements have been
     prepared in accordance with accounting principles generally accepted in the
     United  States of America for interim  financial  information  and with the
     instructions  to Form 10-QSB.  Accordingly,  they do not include all of the
     information  and  footnotes  required by  accounting  principles  generally
     accepted in the United States of America for complete financial statements.
     In the  opinion  of  management,  all  adjustments  (consisting  of  normal
     recurring accruals)  considered necessary for a fair presentation have been
     included.  Interim  results are not  necessarily  indicative of the results
     that may be expected for a full year. These financial  statements should be
     read in conjunction with the audited consolidated  financial statements and
     notes thereto  included in the Company's  Annual Report to  Stockholders on
     amendment No. 1 Form Form  10-KSB/A for the fiscal year ended  December 31,
     2006, as filed with the Securities and Exchange Commission.

     b)  Unit of Measurement

     The United  States  currency  is being used as the unit of  measurement  in
     these consolidated financial statements.

                                      -7-
<PAGE>

     c)  Cash and Cash Equivalents

     Cash and cash  equivalents  consist of cash on hand and cash deposited with
     financial  institutions,  including money market accounts.  For purposes of
     the statement of cash flows,  the Company  considers all highly liquid debt
     and other  instruments with an original maturity of three months or less to
     be cash equivalents.

     d)  Revenue Recognition

     Revenue for warranty contracts will be deferred and recognized in income on
     a  straight   line  basis  over  the  contract   period   except  in  those
     circumstances in which sufficient  historical  evidence  indicates that the
     cost of performing services under the contract are incurred on other than a
     straight  line basis.  In those  circumstances,  revenue will be recognized
     over the contract period in proportion to the costs expected to be incurred
     in  performing  services  under the  contract.  Losses  are  recognized  on
     warranty contracts if the sum of expected costs of providing services under
     the contracts exceeds the related unearned revenue.  In accordance with FAS
     91,  mortgage  loan fees and  related  loan costs are  offset,  and the net
     amount is deferred and amortized over the lives of the loans.

     e)  Use of Estimates

     Preparation  of  financial   statements  in  accordance   with   accounting
     principles  generally  accepted  in the United  States of America  requires
     management  to make  estimates  and  assumptions  that  affect the  amounts
     reported  in the  financial  statements  and  related  notes  to  financial
     statements.  These  estimates are based on  management's  best knowledge of
     current events and actions the Company may undertake in the future.  Actual
     results may ultimately differ from estimates,  although management does not
     believe such changes will materially affect the financial statements in any
     individual year.

     f)  Fair Value of Financial Instruments

     The carrying amounts reported in the accompanying  financial statements for
     cash and equivalents,  mortgages notes, and notes payable  approximate fair
     values  because of the immediate or short-term  maturities of the financial
     instruments and because the prevailing interest rates are market rates.

     g)  Net Loss (Earnings) per Share

     Net loss  (earnings)  per share is computed by dividing the net loss by the
     weighted  average  number  of common  shares  outstanding  for the  period.
     Diluted net loss reflects the potential  dilution of securities  that could
     share in the earnings. Potentially dilutive securities for the three months
     ended March 31, 2007 consist of the 36,128,286 shares of common stock under
     Warrant (see note 3). There were no potentially dilutive securities for the
     period ended March 31, 2006.

     h)  Equity Compensation

     The Company  enters into  transactions  in which goods or services  are the
     consideration   received  for  the  issuance  of  equity  instruments.   In
     accordance with FAS 123(R),  the value of these  transactions  are measured
     and accounted for, based on the fair value of the equity  instrument issued
     or the value of the services,  whichever is more reliably  measurable.  The
     services  are  expensed  in the  periods  during  which  the  services  are
     rendered.

     i)  Foreign Currency Translation

     The Company accounts for foreign currency  translation  pursuant to FAS 52.
     The Company's  functional  currency is the Canadian dollar.  All assets and
     liabilities  are  translated  into United States dollars using the exchange


                                      -8-
<PAGE>

     rates  prevailing  at the  end of  the  year.  Revenues  and  expenses  are
     translated using the average exchange rates prevailing throughout the year.
     Unrealized   foreign  exchange  amounts   resulting  from  translations  at
     different rates according to their nature are included in accumulated other
     comprehensive  income.  Realized  foreign  currency  transaction  gains and
     losses are recognized in operations.

     j)  Comprehensive Loss

     The Company  reports  comprehensive  los in  accordance  with FAS 130.  The
     components  of  comprehensive  loss include  foreign  currency  translation
     adjustments.

     k)  Income Taxes

     The Company  accounts for income taxes in accordance with FAS 109 using the
     asset and liability  approach,  which requires  recognition of deferred tax
     liabilities  and  assets  for  the  expected  future  tax  consequences  of
     temporary  differences  between the  carrying  amounts and the tax basis of
     such assets and liabilities. The Company has approximately $10.7 million in
     net operating losses as of March 31, 2007, and a valuation  allowance equal
     to the tax  benefit  of the  accumulated  net  operating  losses  has  been
     established  since it is  uncertain  that  future  taxable  income  will be
     realized  during the applicable  carry-forward  periods.  The net operating
     loss  carryforwards  may be limited  under change of control  provisions of
     taxing authorities.

     l)  Recent Accounting Pronouncements

     In July 2006, the FASB issued FIN 48,  Accounting for Uncertainty in Income
     Taxes-an  interpretation  of FASB  Statement  No. 109. FIN 48  prescribes a
     comprehensive  financial statement model of how a company should recognize,
     measure, present, and disclose uncertain tax positions that the Company has
     taken or expects to take in its income tax  returns.  FIN 48 requires  that
     only income tax benefits  that meet the "more likely than not"  recognition
     threshold be recognized or continue to be recognized on the effective date.
     Initial  derecognition of amounts would be reported as a cumulative  effect
     of a change in accounting principle.  FIN 48 was effective for fiscal years
     beginning  after  December 15, 2006.  The adoption of FIN 48 did not have a
     material impact on the Company's financial statements.

     In September 2006, the FASB issued FAS No. 157, "Fair Value  Measurements",
     which  establishes  a  framework  for  reporting  fair  value  and  expands
     disclosure  about fair value  measurements.  FAS 157 is  effective  for the
     Company's 2008 fiscal year. The Company is currently  evaluating the impact
     of this standard on its financial statements.

     In February  2007,  the FASB issued FAS No. 159, "The Fair Value Option for
     Financial Assets and Financial  Liabilities  Including an Amendment of FASB
     Statement  No.  115.  FAS 159 permits  entities  to choose to measure  many
     financial  instruments  and  certain  other  items  at  fair  value  and is
     effective  for  fiscal  years  after  November  15,  2007.  The  Company is
     currently  evaluating  the  impact  of  adopting  FAS 159 on its  financial
     statements.

     m)  Reclassifications

     Where necessary,  prior period amounts have been reclassified to conform to
     current period presentation. None of the reclassifications had an effect on
     net loss or shareholders' equity as previously reported.

3.   Stockholders' Equity and Revolving Note Agreement

     On  February  2,  2005,  the  Company  undertook  a  reverse  split  of its
     outstanding  common shares on the basis of one new share for twenty-two old
     shares,  thereby reducing its outstanding  common shares from 44,438,768 to
     2,019,782  prior to the  acquisition of a subsidiary  company.  The reverse


                                      -9-
<PAGE>

     split has retroactively  been taken into  consideration in the consolidated
     financial statements and in the calculation of net loss per share.

     March 24, 2005, pursuant to stock exchange agreement,  BSA Group Limited in
     trust for the  shareholders  of the  Company,  acquired  control of 1604494
     Ontario  Inc. by  acquiring  from  treasury  76,000,000  come shares of the
     Company in exchange  for all the issued and  outstanding  shares of 1604494
     Ontario Inc.

     On March 1, 2006, the board of directors approved the issuance of 8,000,000
     of its common shares,  in consideration of consulting  service to Harvey E.
     Moss and Leslie N. Moss.

     On June 8, 2006, the Company entered into a Security and Purchase Agreement
     with  Laurus  Master  Fund Ltd.  ("Laurus")  pursuant  to which the Company
     issued to Laurus a Secured  Revolving  Note (the  "Note") in the  aggregate
     principal  amount of $25 million and a warrant to purchase up to 36,128,286
     shares of the  Company's  common  stock at a price of $.001 per share  (the
     "Warrant").

     As the Company did not have a sufficient number of authorized but un-issued
     common shares to issue upon the full  exercise of the Warrant,  it obtained
     shareholder and State of Florida approval to increase its authorized number
     of common shares from 100 to 200 million shares.

     The Company  agreed to use the proceeds of the Note solely for the purposes
     of funding certain  mortgage loans to its customers,  except for $1,056,768
     that the Company paid to Laurus  Capital  Management,  LLC, the  investment
     advisor to Laurus and to other third parties as reimbursement for their due
     diligence  and legal fees and  expenses  incurred  in  connection  with the
     transaction.  These  costs,  which were paid from  draws on the Note,  were
     capitalized as loan costs. The Note was secured by substantially all assets
     of the Company. In addition the 76,000,000 shares of common stock issued by
     the Company with its 2005  reverse  merger were pledged as security for the
     Note.

     The Company used the Black-Scholes  option valuation model to calculate the
     "fair value" of the Warrant and the  corresponding  capitalized loan costs.
     The  assumptions  used in the calculation  were:  expected term of 90 days,
     volatility  of 219.8%,  and  interest  rate of 4.47 and yield of zero.  The
     expected  term was based on the  requirements  of the  Security  & Purchase
     Agreement.  The expected volatility was based on the historical  volatility
     of  the  Company's  common  stock  over a one  year  period  preceding  the
     transaction.  The  dividend  yield of zero was  based on the fact  that the
     Company  had never paid cash  dividends  and had no  intention  to pay cash
     dividends. The risk free interest rate was derived from average US treasure
     rates.

     The following table summaried the capitalized loan costs:

<TABLE>
<CAPTION>

<S>                                                                    <C>
           Fees paid to Laurus Capital Management, LLC                  $   915,000
           Fees paid to other third parties (primarily legal fees)          141,768
                                                                       -------------
                                                                          1,056,768
           Value of Warrant issued to Laurus                              4,299,266
                                                                       -------------
                                                                        $  5,356,034
</TABLE>



                                      -10-
<PAGE>
     In September  2006, the Company was notified by Laurus that given a changed
     investment  climate,  it did not intend to  proceed  with and  advance  any
     further  monies  under  the Note.  The  Company  and  Laurus  entered  into
     negotiations  respecting the resolution of the relationship  created by the
     Security and Purchase Agreement.  The results of these negotiations,  which
     allowed the Company to proceed  with its  business,  ultimately  led to the
     Company in December 2006 issuing  2,190,944 of its restricted common shares
     to Laurus in  consideration  of Laurus  discharging the $1,056,768 debt and
     releasing its secured  position and claims  against  Company.  In addition,
     Laurus  retained  the  rights  to the  36,128,286  common  shares  from the
     Warrant;  however,  it is prevented  from  selling such shares  without the
     consent of the Company.  The Company has no intention of allowing Laurus to
     sale the shares and its  shareholders  are proceeding  with legal action to
     nullify the  Warrant.

     In August 2006, the Company issued  4,000,000  restricted  common shares in
     consideration  of consulting  fees incurred in connection  with a financing
     transaction  that did not  materialize.  These  shares  in the  opinion  of
     counsel were issued in error are a nullity and  therefore are not reflected
     as part of the Company's outstanding capital.

     In November  2006,  Main  Street  Capital  LLC,  as agent for the  Company,
     obtained  subscriptions for two tranches of the Company's restricted common
     shares from an  aggregate  of 14  individuals  for net  proceeds of $65,946
     after fees of $28,134.  These  restricted  common shares were issued by the
     Company from its  treasure  pursuant to Section 144 of the  Securities  Act
     1933 and  subject to certain  statutory  restrictions  from  transfer.  The
     issuance of 638,276 shares for this transactions occurred in January 2007.

     In January 2007,  the company  issued  9,000,000 free trading common shares
     from  its  treasury  pursuant  to the  exemption  from  share  registration
     provided by Section  SB-8 of the  Securities  Act 1933 to Julian  Brown,  a
     Bahamian  resident  &  consultant.  The  common  shares so  issued  were in
     consideration of services rendered and to be rendered by Mr. Brown pursuant
     to  consulting  agreement  entered into by the Company and Mr.  Brown.  Mr.
     Brown provided a combination of consulting, marketing and technical support
     services to the Company on respect of the launch of its  activities  in the
     Caribbean basis and South America.

     In March 2007,  the Company  issued  250,000  restricted  common  shares in
     consideration of consulting fees.

4.   Due to and Loans Payable to Related Parties

     Due  to  related  parties  represents   advances  to  the  Company  from  a
     stockholder/officer  of the  Company  to fund the  working  capital  of the
     Company.  The advances are non-interest bearing and have no fixed terms for
     repayment.

     In August 2006, the Company  received loan proceeds of $1,037,500 under the
     terms of a loan agreement with its shareholder  Galaxy Galleria,  Inc. This
     agreement was made for the purpose of engaging  Galaxy  Galleria to provide
     structured  financing  to assist the  Company  in  bolstering  its  working
     capital  and  meeting its  ongoing  financial  obligations.  The loan bears
     interest  at a rate of 15.1%  and is  payable  quarterly  in  arrears.  The
     principal is due on July 18, 2007.

5.   Mortgage Notes

     In December 2006, the Company  commenced its mortgage  warranty  operations
     and wrote three mortgage loans totaling $457,137.  The loans carry interest
     rates of 7.35% to 7.85%,  have terms of 25 to 50 years,  are  receivable in
     monthly payments totaling  approximately  $3,300 and collateralized by real
     estate.  The Company  financed its loans to its  customers  with loans from
     Morban Limited totaling $434,652.  Interest on the loans is payable monthly


                                      -11-
<PAGE>

     at the prime rate plus 3%. The principal is due November and December 2007.
     The loans are secured by the Company's mortgage notes with its customers.

6.   Going Concern

     The accompanying financial statements have been prepared in accordance with
     accounting  principles  generally  accepted in the United States of America
     with the assumption that the Company will be able to realize its assets and
     discharge its liabilities in the normal course of business. The Company has
     sustained net losses of $10,739,913  since inception  including  $2,063,097
     for the three month period ended March 31,  2007,  which raise  substantial
     doubt  about the  Company's  ability to continue  as a going  concern.  The
     Company is  dependant  on  successfully  bringing  its  services to market,
     achieving future profitable operations, and obtaining additional sources of
     financing  to  sustain  its  operations,  the  outcome  of which  cannot be
     predicted  at this time.  Although the Company  plans to pursue  additional
     financing,  there  can be no  assurance  that the  Company  will be able to
     secure  financing when needed or obtain such on terms  satisfactory  to the
     Company.   The  accompanying   financial  statements  do  not  include  any
     adjustments to reflect the possible  future  effects on the  recoverability
     and   classification  of  assets  or  the  amounts  and  classification  of
     liabilities  that may result from the possible  inability of the Company to
     continue as a going concern.

                                      -12-
<PAGE>


ITEM 2 MANAGEMENT DISCUSSIONS AND ANALYSIS OR PLAN OF OPERATION

As used in this Form 10-QSB,  references  to the  "Company,"  the  "Registrant,"
"we,"  "our" or "us" refer to Reliant  Home  Warranty  Corp.  unless the context
otherwise indicates.

GENERAL

The  following  discussion  is  intended  to provide an  analysis  of  Reliant's
financial  condition and should be read in conjunction with Reliant's  financial
statements and the related footnotes. The matters discussed in this section that
is not historical or current facts deal with potential future  circumstances and
developments.  Such forward-looking  statements include, but are not limited to,
the  development  plans for the Company's  growth,  trends in the results of the
Company's development, anticipated development plans, operating expenses and the
Company's anticipated capital requirements and capital resources.  The Company's
actual  results  could  differ  materially  from the  results  discussed  in the
forward-looking statements.

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

This report includes "forward-looking  statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. For example, statements included in this report regarding our financial
position,   business   strategy  and  other  plans  and  objectives  for  future
operations, and assumptions and predictions about future product demand, supply,
manufacturing,  costs,  marketing  and pricing  factors are all  forward-looking
statements.  When Reliant  uses words like  "intend,"  "anticipate,"  "believe,"
"estimate,"  "plan" or "expect," Reliant is making  forward-looking  statements.
Reliant  believes  that  the  assumptions  and  expectations  reflected  in such
forward-looking  statements are  reasonable,  based on information  available to
Reliant on the date hereof, but Reliant cannot assure you that these assumptions
and expectations will prove to have been correct or that we will take any action
that we may  presently  be planning.  Reliant has  disclosed  certain  important
factors that could cause  Reliant's  actual  results to differ  materially  from
Reliant's current  expectations  elsewhere in this report. You should understand
that forward-looking statements made in this report are necessarily qualified by
these  factors.  Reliant is not  undertaking  to  publicly  update or revise any
forward-looking  statement  if  Reliant  obtains  new  information  or upon  the
occurrence of future events or otherwise.

COMPANY HISTORY

Reliant Home Warranty  Corporation ("the Company") was incorporated in the State
of Florida on December 18, 1995 as Ronden Vending Corp.

On December 24, 1996, the Company  incorporated a wholly owned subsidiary called
Ronden Acquisition,  Inc., a Florida corporation.  Ronden Acquisition,  Inc then
merged with Video Home  Shopping,  Inc., (a Tennessee  corporation),  and Ronden
Acquisition,  Inc. was the  surviving  Florida  Corporation.  Subsequent  to the
merger the Company suspended the network  marketing and distribution  operations
of Video Home Shopping, Inc of Tennessee.

On  January  9,  1997,  articles  of merger  were  filed for the  Company as the
surviving  corporation  of a merger  between the  Company  and its wholly  owned
subsidiary Ronden  Acquisition,  Inc. This step completed the forward triangular
merger  between Video Home  Shopping,  Inc.,  Ronden  Acquisition,  Inc. and the
Company.

On January 9, 1997,  articles of amendment  were filed to change the name of the
Company from Ronden Vending Corp to VHS Network,  Inc (VHSN).  On April 9, 1997,
the Company incorporated VHS Acquisition, Inc. as a wholly owned subsidiary.

In April  1997,  the  Company  was  restructured  by way of a reverse  take-over
involving its wholly owned subsidiary, VHS Acquisition, Inc., a Florida company,
and VHS Network,  Inc., a Manitoba and Canadian controlled Private  Corporation.
On April 12, 2000,  the Company  acquired all the  outstanding  common shares of
China eMall  Corporation,  an Ontario private  company.  This represented a 100%
voting  interest  in China  eMall  Corporation.  The  Company  functioned  as an


                                      -13-
<PAGE>


e-commerce  company.  On September 5, 2003, the Company divested its interest in
China eMall by selling all the  outstanding  common  shares of China eMall for a
nominal amount ($2.00).

On May 6, 2001, the Company entered into an agreement and plan of reorganization
with Branson Holdings, Inc ("Branson") to acquire all the issued and outstanding
shares of Branson. On July 26, 2001, VHSN terminated its agreement with Branson.

On December 1, 2001, the Company  acquired all the outstanding  common shares of
TrueNet Enterprise Inc., an Ontario private company.  On September 22, 2003, the
Company  changed its name to Dialex  Minerals Inc. and completed a reverse split
of its  issued and  outstanding  common  shares on the basis of ten (10)  common
shares for one (1) new common share.

On February 9, 2004,  the Company  completed  a  transaction  acquiring  all the
outstanding shares of Condor Diamond Corp. an Ontario private company.

On February 2, 2005,  pursuant to a Stock Exchange  Agreement and a registration
statement  filed on Form 14-3 with the Securities and Exchange  Commission,  the
Company  changed its name from Dialex  Minerals  Inc. to Reliant  Home  Warranty
Corporation.  The Company  undertook a reverse split of its  outstanding  common
shares on the basis of one (1) new share for twenty-two  (22) old shares thereby
reducing its outstanding common shares from 44,438,786 to 2,019,945.

On March 16, 2005,  Sandro Sordi in Trust  acquired  control of the Company,  by
acquiring a majority of its issued and outstanding  shares through the execution
of a share purchase agreement with Condor Gold Corp and RTO Zarex Ltd.

Effective  March 23,  2005,  the  former  directors  of the  Company,  Alexander
Stewart, Wallace Stonehouse, Kirk Boyd, Stephen Stewart and Neil Novak, resigned
upon the  appointment  of new directors,  Kevin  Hamilton,  Valeri Guilis,  Boyd
Soussana  and the  Honorable  John  Roberts.  On March 24,  2005,  The BSA Group
Limited  ("BSA"),  in trust for the  shareholders  of 1604494  Ontario  Inc., an
Ontario  private  company,  acquired  control of the Company by  acquiring  from
treasury  76,000,000 shares of the Company in exchange for all of the issued and
outstanding  shares of  1604494  Ontario  Inc.  The total  amount of issued  and
outstanding shares in the Company as a result increased to 78,019,782.

Coincident with the establishment of its home warranty insurance  business,  the
Company divested all of issued and outstanding  shares, of Condor Diamond Corp.,
the Company's wholly-owned subsidiary, to Condor Gold Corp., in consideration of
the return of any and all liabilities  owing by the Company to Condor Gold Corp.
During 2005 the Company  changed the nature of its  business  and now markets to
Canadian  homeowners a proprietary  line of non-prime  home  mortgage  programs,
designed to compliment mortgages of residential real estate (single family homes
and condominiums).

On April 21, 2005, the Company entered into a letter of intent with Creditorlife
Inc respecting the comprehensive  marketing of the Company's proprietary line of
products.

On May 19, 2005,  the Company  announced to the public,  the media and the trade
the full extent of its new range of its products.

On May 21, 2005, the Company entered into a comprehensive  letter of intent with
Brit Insurance respecting the full reinsurance by Brit of the Company's range of
products.

On June 20, 2005, the Company entered into a comprehensive letter of intent with
Dundee Securities respecting Dundee's acting as the Company's fiscal advisor.

On  August  26,  2005,  the  board of  directors  of the  Company  accepted  the
resignation  of its President and Chairman  Kevin  Hamilton and appointed one of
its existing directors, Boyd Soussana, as its new Chairman and President.

                                      -14-
<PAGE>


On  January  1,  2006,  the  board of  directors  of the  Company  accepted  the
resignation of its Treasurer and Director, Val Guilis, and appointed Paul Burden
as its Treasurer and Director.

On March 1, 2006, the Company issued 8,000,000 of its common shares to Harvey E.
Moss and Leslie N. Moss in consideration of consulting services rendered by them
to the Company. The 8,000,000  "unrestricted" common shares were issued pursuant
to an S-8  Filing  that the  Company  filed  with the  Securities  and  Exchange
Commission.

On June 8, 2006, the Company entered into a Security and Purchase Agreement (the
"Security  and  Purchase  Agreement")  with Laurus  Master Fund Ltd.  ("Laurus")
pursuant to which the  Company  issued to Laurus a Secured  Revolving  Note (the
"Note") in the  aggregate  principal  amount of $25.0  million  and a warrant to
purchase up to 36,128,286  shares of the Company's common stock, par value $.001
per share, at a price of $.001 per share (the "Warrant").

As the Company did not have a  sufficient  number of  authorized  but  un-issued
common  shares to issue  upon the full  exercise  of the  Warrant,  it  obtained
shareholder and State of Florida  approval to increase its authorized  number of
common shares from 100 to 200 million shares.

The Company  agreed to use the  proceeds of the Note solely for the  purposes of
funding certain mortgage loans to its customers,  except for $1,056,768 that the
Company paid to Laurus Capital Management, LLC, the investment advisor to Laurus
and to other third  parties as  reimbursement  for their due diligence and legal
fees and expenses incurred in connection with the transaction.  These costs were
paid from draws on the Note. The Note was secured by substantially all assets of
the  Company.  In addition the  76,000,000  shares of common stock issued by the
Company with its 2005 reverse merger were pledged as security for the Note.


On July 18, 2006, the Company entered into a loan agreement with its shareholder
Galaxy  Galleria Inc. This agreement was made for the purpose of engaging Galaxy
Galleria Inc. to provide  structured  financing to assist the Company to bolster
its working capital and meeting its ongoing financial obligations. The principle
amount of the loan,  which totaled  $1,024,938 at March 31, 2007, is due on July
18, 2007. The loan bears interest at a rate of 15.1% and is payable quarterly in
arrears.

In August  2006,  the  Company  issued  4,000,000  restricted  common  shares in
consideration  of  consulting  fees  incurred  in  connection  with a  financing
transaction  that did not  materialize.  These  shares in the opinion of counsel
were issued in error are a nullity and  therefore  are not  reflected as part of
the Company's outstanding capital



                                      -15-
<PAGE>

In  September  2006,  the  Company  was  notified by Laurus that given a changed
investment  climate,  it did not intend to proceed  with and advance any further
monies  under the  Note.  The  Company  and  Laurus  entered  into  negotiations
respecting  the  resolution  of the  relationship  created by the  Security  and
Purchase Agreement. The results of these negotiations, which allowed the Company
to proceed with its  business,  ultimately  led to the Company in December  2006
issuing  2,190,944 of its restricted common shares to Laurus in consideration of
Laurus  discharging the $1,056,768  debt and releasing its secured  position and
claims  against  Company.  In  addition,  Laurus  retained  the  rights  to  the
36,128,286 common shares from the Warrant; however, it is prevented from selling
such shares without the consent of the Company.  The Company has no intention of
allowing  Laurus to sale the shares and its  shareholders  are  proceeding  with
legal action to nullify the Warrant.

In November 2006,  Main Street  Capital LLC, as agent for the Company,  obtained
subscriptions for two tranches of the Company's restricted common shares from an
aggregate of 14  individuals  for net proceeds of $65,946 after fees of $28,134.
These  restricted  common  shares were issued by the Company  from its  treasure
pursuant  to  Section  144 of the  Securities  Act 1933 and  subject  to certain
statutory  restrictions  from transfer.  The issuance of 638,276 shares for this
transactions occurred in January 2007.

In January 2007,  the company  issued  9,000,000 free trading common shares from
its  treasury  pursuant to the  exemption  from share  registration  provided by
Section SB-8 of the Securities  Act 1933 to Julian Brown, a Bahamian  resident &
consultant.  The  common  shares so issued  were in  consideration  of  services
rendered  and to be  rendered by Mr.  Brown  pursuant  to  consulting  agreement
entered into by the Company and Mr. Brown.  Mr. Brown  provided a combination of
consulting,  marketing and technical  support services to the Company on respect
of the launch of its activities in the Caribbean basis and South America.

In  March  2007,  the  Company  issued  250,000   restricted  common  shares  in
consideration of consulting fees.

RESULTS OF OPERATIONS

Results for the three months  ended March 31, 2007  compared to the three months
ended March 31, 2006

Revenue  for the three  months  ended  March  31,  2007 was  zero.  The  Company
continued  to develop  its  proprietary  residential  mortgage  and  residential
mortgage insurance programs, which it launched during the fourth quarter of 2006
but has not generated any revenues.  Operating  expenses increased to $2,022,365
for the three month period ended March 31, 2007 compared to  $1,453,000  for the
same period in 2006.  This increase was  primarily due to non-cash  expenses for
shares issued for consulting services.  Such expenses totaled $1,842,500 for the
three months ended March 31, 2007  compared to  $1,440,000  for the three months
ended March 31, 2007. In addition, we incurred payroll,  legal and other general
and administration expenses during the three months ended March 31, 2007 related
to the development and launch of our mortgage programs.

PLAN OF OPERATIONS

The  Company  has changed the nature of its  business  and now is  preparing  to
operate a fully  integrated  mortgage and  mortgage  insurance  enterprise.  The
Company  used the three month period  ending March 31, 2007 to further  develop,
refine and launch its' proprietary  residential  mortgage and mortgage insurance
enterprise  throughout  Canada.  This intensive effort together with an array of
one time legal,  accounting,  investment  advisory,  consulting and  development
costs resulted in a net loss $2,063,097 during first three months of 2007.

GOING CONCERN

Reliant  is in  the  process  of  developing,  and  exploiting  its  proprietary
financial systems and "know how". The Company has not yet generated much revenue
or any profit from its  operations.  Its continued  existence and its ability to
continue  as a  growing  concern  are  dependent  upon  its  ability  to  obtain
additional capital or debt to fund its operations.

                                      -16-
<PAGE>


LIQUIDITY AND CAPITAL RESOURCES

Our principal  financing  sources have been through the issuance of common stock
and advances and loans from related  parties and others.  At March 31, 2007,  we
had a working capital deficit of $1,661,415.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The critical  accounting policies used by the Company are described in Note 2 to
the financial  statements.  The preparation of our financial statements requires
us to make estimates and assumptions  that affect the reported amounts of assets
and  liabilities  and  disclosure of contingent  assets and  liabilities  at the
financial  statement date and the reported  amounts of sales and expenses during
the  reporting  periods.  Actual  amounts  could  differ  materially  from those
estimates.

RECENT ACCOUNTING PRONOUNCEMENTS

Recent  accounting  pronouncements  that may impact the Company are disclosed in
Note 2 to the financial statements.

OFF-BALANCE SHEET ARRANGEMENTS

None.

CHANGES IN SECURITIES

On  September 5, 2003,  the Company  announced  that it would  conduct a reverse
split of its issued and outstanding  shares on the basis of 10 common shares for
one new common  share.  The Company at that date had  37,345,268  common  shares
issued and  outstanding,  after the reverse  split there were  3,734,526  common
shares issued and outstanding.

On  February  9, 2004,  the  Company  issued  34,000,000  common  shares for the
acquisition  of 100% of the  issued  and  outstanding  common  shares  of Condor
Diamond Corp.

On March 3, 2004, the Company  authorized the issuance of 6,004,426 shares under
a Form S-8 filing and pursuant to debt settlement agreements totaling $428,875.

On February 2, 2005, Company undertook a reverse split of its outstanding common
shares on the basis of one (1) new share for twenty-two (22) old shares reducing
its outstanding common shares from 44,438,786 to 2,019,782.

On March 24, 2005,  Corporation issued 76,000,000 shares in consideration of the
acquisition  of 100% of the  issued  and  outstanding  common  shares of 1604494
Ontario Inc., an Ontario private company.  This transaction occurred pursuant to
a Stock  Exchange  Agreement,  whereby The BSA Group  Limited , in trust for the
shareholders  of 1604494  Ontario  Limited,  acquired  control of the Company by
acquiring from treasury 76,000,000 shares of the Corporation in exchange for all
of the issued and outstanding shares of 1604494 Ontario Inc. As a result,  three
shareholders  of 1604494  Ontario Inc. had acquired and then owned  ninety-seven
point four percent  (97.4%) of the issued and  outstanding  common shares of the
Company.

Kevin Hamilton acquired beneficial  ownership of 20,085,667 common shares in the
capital of the Company,  through a  corporation,  Galaxy  Galleria  Inc. that he
controls.  This represents 25.7% of the issued and outstanding  common shares of
the Company.  These common shares of the Company were issued to Galaxy  Galleria
Inc.  pursuant to the Stock Exchange  Agreement,  namely one common share of the
Company was issued for each one common share of 1604494 Ontario Inc. acquired.

RS Atlantic  Holdings Inc. a private  company  acquired  ownership of 18,921,220
common  shares in the  capital of the  Company,  which  represents  24.2% of the
issued and outstanding  consolidated common shares of the Company.  These common
shares of the Company  were issued to RS Atlantic  Holdings  Inc pursuant to the
Stock Exchange Agreement,  namely one common share of the Company was issued for
each one common share of 1604494 Ontario Inc acquired.

HS Holdings  Inc. a private  company  acquired  ownership of  18,753,113  common
shares in the capital of the Company,  which  represents 24.0% of the issued and
outstanding  consolidated  common shares of the Company.  These common shares of


                                      -17-
<PAGE>


the  Company  were  issued to HS Holdings  Inc  pursuant  to the Stock  Exchange
Agreement,  namely one common  share of the Company for each one common share of
1604494 Ontario Inc. acquired. The total amount of issued and outstanding shares
in the Company thereby increased to 78,019,782.

On March 1, 2006, the Company issued 8,000,000 of its common shares to Harvey E.
Moss and Leslie N. Moss in consideration of consulting services rendered by them
to the Company. The 8,000,000  "unrestricted" common shares were issued pursuant
to an S-8  filing  that the  Company  filed  with the  Securities  and  Exchange
Commission.

On June 8, 2006, the Company entered into a Security and Purchase Agreement (the
"Security  and  Purchase  Agreement")  with Laurus  Master Fund Ltd.  ("Laurus")
pursuant to which the  Company  issued to Laurus a Secured  Revolving  Note (the
"Note") in the  aggregate  principal  amount of $25.0  million  and a warrant to
purchase up to 36,128,286  shares of the Company's common stock, par value $.001
per share, at a price of $.001 per share (the "Warrant").

As the Company did not have a  sufficient  number of  authorized  but  un-issued
common  shares to issue  upon the full  exercise  of the  Warrant,  it  obtained
shareholder and State of Florida  approval to increase its authorized  number of
common shares from 100 to 200 million shares.

The Company  agreed to use the  proceeds of the Note solely for the  purposes of
funding certain mortgage loans to its customers,  except for $1,056,768 that the
Company paid to Laurus Capital Management, LLC, the investment advisor to Laurus
and to other third  parties as  reimbursement  for their due diligence and legal
fees and expenses incurred in connection with the transaction.  These costs were
paid from draws on the Note. The Note was secured by substantially all assets of
the  Company.  In addition the  76,000,000  shares of common stock issued by the
Company with its 2005 reverse merger were pledged as security for the Note.


On July 18, 2006, the Company entered into a loan agreement with its shareholder
Galaxy  Galleria Inc. This agreement was made for the purpose of engaging Galaxy
Galleria Inc. to provide  structured  financing to assist the Company to bolster
its working capital and meeting its ongoing financial obligations. The principle
amount of the loan,  which totaled  $1,024,938 at March 31, 2007, is due on July
18, 2007. The loan bears interest at a rate of 15.1% and is payable quarterly in
arrears.

In August  2006,  the  Company  issued  4,000,000  restricted  common  shares in
consideration  of  consulting  fees  incurred  in  connection  with a  financing
transaction  that did not  materialize.  These  shares in the opinion of counsel
were issued in error are a nullity and  therefore  are not  reflected as part of
the Company's outstanding capital.



                                      -18-
<PAGE>

In  September  2006,  the  Company  was  notified by Laurus that given a changed
investment  climate,  it did not intend to proceed  with and advance any further
monies  under the  Note.  The  Company  and  Laurus  entered  into  negotiations
respecting  the  resolution  of the  relationship  created by the  Security  and
Purchase Agreement. The results of these negotiations, which allowed the Company
to proceed with its  business,  ultimately  led to the Company in December  2006
issuing  2,190,944 of its restricted common shares to Laurus in consideration of
Laurus  discharging the $1,056,768  debt and releasing its secured  position and
claims  against  Company.  In  addition,  Laurus  retained  the  rights  to  the
36,128,286 common shares from the Warrant; however, it is prevented from selling
such shares without the consent of the Company.  The Company has no intention of
allowing  Laurus to sell the shares and its  shareholders  are  proceeding  with
legal action to nullify the Warrant.

In November 2006,  Main Street  Capital LLC, as agent for the Company,  obtained
subscriptions for two tranches of the Company's restricted common shares from an
aggregate of 14  individuals  for net proceeds of $65,946 after fees of $28,134.
These  restricted  common  shares were issued by the Company  from its  treasure
pursuant  to  Section  144 of the  Securities  Act 1933 and  subject  to certain
statutory  restrictions  from transfer.  The issuance of 638,276 shares for this
transactions occurred in January 2007.

In January 2007,  the Company  issued  9,000,000 free trading common shares from
its  treasury  pursuant to the  exemption  from share  registration  provided by
Section SB-8 of the Securities  Act 1933 to Julian Brown, a Bahamian  resident &
consultant.  The  common  shares so issued  were in  consideration  of  services
rendered  and to be  rendered by Mr.  Brown  pursuant  to  consulting  agreement
entered into by the Company and Mr. Brown.  Mr. Brown  provided a combination of
consulting,  marketing and technical  support services to the Company on respect
of the launch of its activities in the Caribbean basis and South America.

In  March  2007,  the  Company  issued  250,000   restricted  common  shares  in
consideration of consulting fees.

GOALS AND OBJECTIVES

The Company is engaged in marketing  throughout  Canada a series of  proprietary
non-prime   residential  mortgage  products  and  related  residential  mortgage
insurance services.

CASH REQUIREMENTS

The  Company  intends to meet its cash  requirements  through a  combination  of
operational cash flow as well as sales of its securities.

ITEM 3   CONTROLS & PROCEEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

(a) As of the  end of the  period  covered  by  this  report,  we  conducted  an
evaluation,  under  the  supervision  and with the  participation  of our  Chief
Executive Officer and Chief Financial  Officer;  of our disclosure  controls and
procedures  (as defined in Rule  13a-15(e)  and Rule  15d-15(e)  of the Exchange
Act).  Based  upon  this  evaluation,  our  Chief  Executive  Officer  and Chief
Financial  Officer  concluded  that our  disclosure  controls and procedures are
effective  to ensure  that  information  required to be  disclosed  by us in the
reports that we file or submit  under the  Exchange Act is recorded,  processed,
summarized and reported,  within the time periods  specified in the Commission's
rules and forms.

(b) There have been no significant  changes  (including  corrective actions with
regard to  significant  deficiencies  or material  weaknesses)  in our  internal
controls or in other  factors that could  significantly  affect  these  controls
subsequent to the date of evaluation referenced in paragraph (a) above.

                                      -19-
<PAGE>

CHANGES IN INTERNAL CONTROLS

The Company has not made any changes to its  internal  control  during the first
quarter that has  materially  affected,  or is  reasonable  likely to materially
affect, our internal control over the financial  reporting.  The Company has not
identified any significant  deficiencies or material weaknesses or other factors
that could  significantly  affect these  controls,  and  therefore,  no need for
corrective action to be taken.

PART II                OTHER INFORMATION

ITEM 1      LEGAL PROCEEDING

From time to time,  Reliant  may be  involved as a  plaintiff  or  defendant  in
various legal actions arising in the normal course of business. Reliant does not
anticipate any material liability as a result of such litigation. Reliant is not
aware of any material legal  proceedings that have occurred within the past five
years  concerning  any  director,  director  nominee,  or control  person  which
involved a criminal  conviction,  a pending  criminal  proceeding,  a pending or
concluded administrative or civil proceeding limiting one's participation in the
securities or banking industries,  or a finding of securities or commodities law
violations.

ITEM 2            UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

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 March 31, 2007.

ITEM 5            OTHER INFORMATION.

CHANGES IN AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND  FINANCIAL
DISCLOSURE

None

POST PERIOD EVENTS

During April 2007, the Company issued 10,000,000 free-trading common shares from
its  treasure  pursuant to the  exemption  from share  registration  provided by
section SB-8 of the Securities  Act 1933 to Julian Braun,  a Bahamian  resident.
The 10,000,000  shares so issued were in consideration of services  rendered and
are to be  rendered  by Mr.  Brown  pursuant  to an  ongoing  formal  consulting
relationship  existing between the Company and Mr. Brown. Mr. Brown has provided
and is to provide a combination of consulting,  marketing and technical  support
to the Company in respect of activity thought Australasian.

During April 2007, the Company issued  2,000,000  restricted  common shares from
its  treasure  pursuant to the  exemption  from share  registration  provided by
section SB-8 of Securities act 1933 to Mr. Boyd Soussana,  a Canadian  resident.
The  2,000,000  shares were in  consideration  of the  services  rendered by Mr.
Soussana as a President and CEO of the Company.

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 and Accounting Officer

32.1                Section 1350 Certifications of Principal Executive Officer

32.2                Section  1350  Certifications  of  Principal  Financial  and
                    Accounting Officer


                                      -20-
<PAGE>



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

                                 RELIANT HOME WARRANTY CORPORATION

Date August 6, 2007                /s/  Jules Loeb
                                 ---------------------------------
                                 (Signature) Jules Loeb
                                 Chief Executive Officer

Date August 6, 2007                /s/  Stephen Hamilton
                                 ---------------------------------
                                 (Signature) Stephen Hamilton
                                 Chief Financial Officer



                                      -21-