**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      DC 20549**

**FORM      10-QSB**

| x | QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934. |
|---|---------------------------------------------------------------------------------------------------------------------------------------|

**For      the Quarterly Period Ended May 31, 2007**

| o | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934. |
|---|----------------------------------------------------------------------------------------------------------------------------------------|

**Trackpower,      Inc.**

| **Wyoming**                                                   | **13-3411167**                                      |
|---------------------------------------------------------------|-----------------------------------------------------|
| (State                or Other Jurisdiction of Incorporation) | (I.R.S.                Employer Identification No.) |

**67      Wall Street, Suite 2211**

**New      York, NY 10005**

**(212)      804-5704**

**N/A**

----

**TrackPower,      Inc.**

**INDEX**

| **PART                I.**                   |   | **Financial                Information**                                 |   |
|----------------------------------------------|--------|--------------------------------------------------------------------------|--------|
|                                         |   |                                                                     |   |
| Item                1.                       |   | Condensed                Financial Statements (unaudited)                |   |
|                                         |   | Condensed                Balance Sheet                                   | 3      |
|                                         |   | Condensed                Statements of Operations                        | 4      |
|                                         |   | Condensed                Statements of Stockholders’ Equity        | 5      |
|                                         |   | Condensed                Statements of Cash Flows                        | 6      |
|                                         |   | Notes                to Condensed Financial Statements                   | 7      |
|                                         |   |                                                                     |   |
| Item                2.                       |   | Management's                Discussion and Analysis or Plan of Operation | 10     |
|                                         |   |                                                                     |   |
| Item                3.                       |   | Controls                and Procedures                                   | 14     |
|                                         |   |                                                                     |   |
| **PART                II.**                  |   | **Other                Information**                                     |   |
|                                         |   |                                                                     |   |
| Item                2.                       |   | Unregistered                Sales of Equity Securities                   | 15     |
| [Item                5.                      |   | Other                Information                                         |   |
| Item                6.                       |   | Exhibits                                                                 | 15     |
|                                         |   |                                                                     |   |
| Signatures                and Certifications | 16     |

----

**PART      I. Financial Information**

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

**TrackPower,      Inc.**

**Condensed      Balance Sheet**

**(UNAUDITED)**

| **ASSETS**                                    |   |   |         |
|-----------------------------------------------|--------|--------|--------------|
| Current                Assets:                |   |   |         |
| Cash                                          |   | $      | 4,229        |   |
| Due                from related parties       |   |   | 44,367       |   |
| Prepaid                expenses               |   |   | 20,160       |   |
| Total                current assets           |   |   | 68,756       |   |
|                                          |   |   |         |   |
| Office                equipment               |   |   | 21,913       |   |
| Less:                Accumulated depreciation |   |   | (16,414      | ) |
| Net                office equipment           |   |   | 5,499        |   |
|                                          |   |   |         |   |
| Investment                                    |   |   | 700,000      |   |
|                                          |   |   |    |   |
| **TOTAL                ASSETS**               |   | $      | 774,255      |   |
|                                          |   |   |         |   |

| **LIABILITIES                AND SHAREHOLDERS' DEFICIENCY**                                                                                                                                |   |   |         |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------|
| Current                Liabilities:                                                                                                                                                        |   |   |         |
| Accounts                payable                                                                                                                                                            |   | $      | 283,073      |   |
| Due                to related parties                                                                                                                                                      |   |   | 304,387      |   |
| Preferred                dividends payable                                                                                                                                                 |   |   | 259,671      |   |
| Accrued                professional fees                                                                                                                                                   |   |   | 43,873       |   |
| Accrued                interest                                                                                                                                                            |   |   | 36,847       |   |
| Accrued                directors’ fees                                                                                                                                               |   |   | 29,875       |   |
| Note                payable                                                                                                                                                                |   |   | 21,000       |   |
| Total                current liabilities                                                                                                                                                   |   |   | 978,726      |   |
|                                                                                                                                                                                       |   |   |         |   |
| Notes                payable                                                                                                                                                               |   |   | 700,000      |   |
|                                                                                                                                                                                       |   |   |    |   |
| Total                liabilities                                                                                                                                                           |   |   | 1,678,726    |   |
|                                                                                                                                                                                       |   |   |         |   |
|                                                                                                                                                                                       |   |   |         |   |
|                                                                                                                                                                                       |   |   |         |   |
| Shareholders’                deficiency:                                                                                                                                             |   |   |         |   |
| Series                A 8% convertible preferred stock, $3,000 initial value, no par value,                unlimited shares authorized, 1,000 shares issued and                outstanding |   |   | 3,000,000    |   |
| Common                stock, $.0001 par value; unlimited shares authorized, 772,268,540                shares,                issued and outstanding                                       |   |   | 77,227       |   |
| Additional                paid in capital                                                                                                                                                  |   |   | 29,946,099   |   |
| Common                stock subscribed                                                                                                                                                     |   |   | 100,000      |   |
| Accumulated                deficit                                                                                                                                                         |   |   | (34,027,797  | ) |
| Total                shareholders’ deficiency                                                                                                                                        |   |   | (904,471     | ) |
| **TOTAL                LIABILITIES AND SHAREHOLDERS' DEFICIENCY**                                                                                                                          |   | $      | 774,255      |   |

----

**TrackPower,      Inc.**

**Condensed      Statements of Operations**

**(UNAUDITED)**

|                                                                |   | Three                Months EndedMay                31, |        |
|---------------------------------------------------------------------|--------|---------------------------------------------------------|-------------|
|                                                                |   |  2007                                         |        |  2006  |   |
| Revenues:                                                           |   | $                                                       | -           |   | $ | - |   |
|                                                                |   |                                                    |        |   |   |   |   |
| Costs                and expenses:                                  |   |                                                    |        |   |   |   |   |
| Wages                and consulting fees                            |   |                                                    | -           |   |   | 158,731 |   |
| Management                and consulting fees, related party        |   |                                                    | 60,000      |   |   | 61,234 |   |
| Professional                fees                                    |   |                                                    | 4,397       |   |   | 157,930 |   |
| General                and administrative                           |   |                                                    | 19,989      |   |   | 72,018 |   |
| Interest                                                            |   |                                                    | 26,466      |   |   | 75,412 |   |
| Depreciation                and amortization                        |   |                                                    | 382         |   |   | 187 |   |
| Gain                on disposal of marketable securities            |   |                                                    | (7,550      | ) |   | - |   |
| Share                of loss of equity accounted investment         |   |                                                    | -           |   |   | 321,068 |   |
| Total                costs and expenses                             |   |                                                    | 103,684     |   |   | 846,580 |   |
|                                                                |   |                                                    |        |   |   |   |   |
| Net                loss                                             |   |                                                    | (103,684    | ) |   | (846,580 | ) |
|                                                                |   |                                                    |        |   |   |   |   |
| Preferred                dividends                                  |   |                                                    | 60,493      |   |   | 60,493 |   |
|                                                                |   |                                                    |        |   |   |   |   |
| Net                loss applicable to common shareholders           |   | $                                                       | (164,177    | ) | $ | (907,073 | ) |
|                                                                |   |                                                    |        |   |   |   |   |
| Loss                per share of common stock:                      |   |                                                    |        |   |   |   |   |
| Weighted                average number of common shares outstanding |   |                                                    | 770,601,873 |   |   | 552,880,965 |   |
| Loss                per share                                       |   | $                                                       | (0.0002     | ) | $ | (0.0016 | ) |

----

**TrackPower,      Inc.**

**Condensed      Statements of Stockholders’ Deficiency**

**(UNAUDITED)**

|                                                                     |   | Preferred                Stock |   | Common                Stock |   | CommonStock |   | AdditionalPaid-in |        | Accumulated |   | TotalStockholders’ |   |
|--------------------------------------------------------------------------|--------|--------------------------------|--------|-----------------------------|--------|-------------|--------|-------------------|-------------|-------------|--------|--------------------------|--------|
|                                                                     |   | Shares                         |   | Amount                      |   | Shares      |   | Amount            |        | Subscribed  |   | Capital                  |   | Deficit |   | Equity |   |
| Balance,                February 28, 2006                                |   |                           | 1,000  |                        | $      | 3,000,000   |   |              | 468,052,951 |        | $      | 46,805                   |   | $ | 909,200 |   | $ | 26,866,267 |   | $ | (27,003,945 | ) | $ | 3,818,327 |   |
|                                                                     |   |                           |   |                        |   |        |   |              |        |        |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                stock issued in connection with private placements |   |                           | -      |                        |   |        |   |              | 202,920,000 |        |   | 20,292                   |   |   | (909,200 | ) |   | 1,906,893 |   |   | - |   |   | 1,017,985 |   |
|                                                                     |   |                           |   |                        |   |        |   |              |        |        |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                stock issued pursuant to compensation arrangement  |   |                           | -      |                        |   |        |   |              | 9,008,089   |        |   | 901                      |   |   | - |   |   | 242,318 |   |   | - |   |   | 243,219 |   |
|                                                                     |   |                           |   |                        |   |        |   |              |        |        |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                stock issued for consulting services provided      |   |                           | -      |                        |   |        |   |              | 500,000     |        |   | 50                       |   |   | - |   |   | 17,950 |   |   | - |   |   | 18,000 |   |
|                                                                     |   |                           |   |                        |   |        |   |              |        |        |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                stock issued in lawsuit settlement                 |   |                           | -      |                        |   |        |   |              | 4,500,000   |        |   | 450                      |   |   | - |   |   | 120,150 |   |   | - |   |   | 120,600 |   |
|                                                                     |   |                           |   |                        |   |        |   |              |        |        |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                stock subscribed                                   |   |                           | -      |                        |   |        |   |              | -           |        |   | -                        |   |   | 370,000 |   |   | - |   |   | - |   |   | 370,000 |   |
|                                                                     |   |                           |   |                        |   |        |   |              |        |        |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss                for the three month period ended May 31, 2006        |   |                           | -      |                        |   |        |   |              | -           |        |   | -                        |   |   | - |   |   | - |   |   | (907,073 | ) |   | (907,073 | ) |
|                                                                     |   |                           |   |                        |   |        |   |              |        |        |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                May 31, 2006                                     |   |                           | 1,000  |                        | $      | 3,000,000   |   |              | 684,981,040 |        | $      | 68,498                   |   | $ | 370,000 |   | $ | 29,153,578 |   | $ | (27,911,018 | ) | $ | 4,681,058 |   |

|                                                                       |   | Preferred                Stock |         | Common                Stock |   | CommonStock  |   | AdditionalPaid-in |         | Accumulated |   | Other                Comprehensive |   | TotalStockholders’ |         |
|----------------------------------------------------------------------------|--------|--------------------------------|--------------|-----------------------------|--------|--------------|--------|-------------------|--------------|-------------|--------|------------------------------------|--------|--------------------------|--------------|
|                                                                       |   | Shares                         |         | Amount                      |   | Shares       |   | Amount            |         | Subscribed  |   | Capital                            |   | Deficit                  |         |  Income |   | Deficiency |   |
| Balance,                February 28, 2007                                  |   |                           | 1,000        |                        | $      | 3,000,000    |   |              | 762,268,540  |        | $      | 76,227                             |   | $                        | 136,000      |   | $ | 29,911,099 |   | $ | (33,863,620 | ) | $ | 13,246 |   | $ | (727,048 | ) |
|                                                                       |   |                           |         |                        |   |         |   |              |         |        |   |                               |   |                     |         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                stock issued in connection with settlement agreement |   |                           | -            |                        |   |         |   |              | 10,000,000   |        |   | 1,000                              |   |                     | (36,000      | ) |   | 35,000 |   |   | - |   |   | - |   |   | - |   |
|                                                                       |   |                           |         |                        |   |         |   |              |         |        |   |                               |   |                     |         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Change                in unrealized gain on marketable securities          |   |                           | -            |                        |   |         |   |              | -            |        |   | -                                  |   |                     | -            |   |   | - |   |   | - |   |   | (13,246 | ) |   | (13,246 | ) |
|                                                                       |   |                           |         |                        |   |         |   |              |         |        |   |                               |   |                     |         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss                for the three month period ended May 31, 2007          |   |                           | -            |                        |   |         |   |              | -            |        |   | -                                  |   |                     | -            |   |   | - |   |   | (164,177 | ) |   |   |   |   | (164,177 | ) |
|                                                                       |   |                           |    |                        |   |    |   |              |    |        |   |                          |   |                     |    |   |   |    |   |   |    |   |   |    |   |   |    |   |
| Balance,                May 31, 2007                                       |   |                           | 1,000        |                        | $      | 3,000,000    |   |              | 772,268,540  |        | $      | 77,227                             |   | $                        | 100,000      |   | $ | 29,946,099 |   | $ | (34,027,797 | ) | $ | - |   | $ | (904,471 | ) |

----

**TrackPower,      Inc.**

**Condensed      Statements of Cash Flows**

**(UNAUDITED)**

|                                                                                                             |   | Three                Months EndedMay                31, |         |
|------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|--------------|
|                                                                                                             |   |  2007                                              |         | 2006 |   |
| **Net                cash from operations**                                                                      |   |                                               |         |   |   |
| Net                (loss)                                                                                        |   | $                                                       | (103,684     | ) | $ | (846,580 | ) |
| Adjustments                to reconcile net (loss) to                net cash used in operating activities: |   |                                                    |         |   |   |   |   |
| Depreciation                and amortization                                                                     |   |                                                    | 382          |   |   | 187 |   |
| Gain                on disposal of marketable securities                                                         |   |                                                    | (7,550       | ) |   | - |   |
| Loss                in equity accounted investment                                                               |   |                                                    | -            |   |   | 321,068 |   |
| Common                stock issued for consulting services provided                                              |   |                                                    | -            |   |   | 18,000 |   |
| Amortization                of deferred financing costs                                                          |   |                                                    | -            |   |   | 4,050 |   |
| Changes                in:                                                                                       |   |                                                    |         |   |   |   |   |
| Prepaid                expenses                                                                                  |   |                                                    | (20,160      | ) |   | 29,994 |   |
| Due                from/to related parties                                                                       |   |                                                    | 141,739      |   |   | 167,116 |   |
| Accounts                payable and accrued expenses                                                             |   |                                                    | (55,431      | ) |   | (47,883 | ) |
| Net                cash used in operating activities                                                             |   |                                                    | (44,704      | ) |   | (354,048 | ) |
|                                                                                                             |   |                                                    |         |   |   |   |   |
| **Cash                flows from investing activities:**                                                         |   |                                                    |         |   |   |   |   |
| Purchase                of office equipment                                                                      |   |                                                    | -            |   |   | (4,826 | ) |
| Proceeds                on disposal of marketable securities                                                     |   |                                                    | 37,100       |   |   | - |   |
| Net                cash provided by (used in) investing activities                                               |   |                                                    | 37,100       |   |   | (4,826 | ) |
|                                                                                                             |   |                                                    |         |   |   |   |   |
| **Cash                flows from financing activities:**                                                         |   |                                                    |         |   |   |   |   |
| Repayment                of notes payable                                                                        |   |                                                    | -            |   |   | (1,486,616 | ) |
| Proceeds                on issuance of common stock                                                              |   |                                                    | -            |   |   | 1,017,986 |   |
| Proceeds                from common stock subscribed                                                             |   |                                                    | -            |   |   | 370,000 |   |
| Payment                of preferred dividends                                                                    |   |                                                    | -            |   |   | (119,671 | ) |
| Net                cash used in financing activities                                                             |   |                                                    | -            |   |   | (218,301 | ) |
|                                                                                                             |   |                                                    |    |   |   |    |   |
| Decrease                in cash                                                                                  |   |                                                    | (7,604       | ) |   | (577,175 | ) |
| **Cash**,                beginning of period                                                                     |   | $                                                       | 11,833       |   | $ | 609,804 |   |
| **Cash,**                end of period                                                                           |   | $                                                       | 4,229        |   | $ | 32,629 |   |

----

**TrackPower,      Inc.**

**Summary      of Significant Accounting Policies**

**Nature      of Business**

**Basis      of Presentation**

**Going      Concern**

**Use      of Estimates**

**Reclassification      of 2007 Cash Flow Statement**

----

**Due      to/from Related Parties**

|                                           |   | May                31, 2007 |   |
|------------------------------------------------|--------|-----------------------------|--------|
|                                           |   |                        |   |
| Entity                with common shareholders |   | $                           | 44,367 |   |

|                                                  |   | May                31, 2007 |    |
|-------------------------------------------------------|--------|-----------------------------|---------|
|                                                  |   |                        |    |
| Officers                and directors                 |   | $                           | 20,712  |   |
| Entities                with certain common directors |   |                        |    |   |
| and/or                officers                        |   |                        | 59,720  |   |
| Former                officers and directors          |   |                        | 223,955 |   |
|                                                  |   |                        |    |   |
| Total                                                 |   | $                           | 304,387 |   |

**Investment**

**Notes      Payable**

|                                                                                                                                                      |   | May                31, 2007 |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|---------|
|                                                                                                                                                      |   |                        |    |
| SIG                Communications Partnership 10% unsecured promissory note                                                                               |   | $                           | 21,000  |   |
|                                                                                                                                                      |   |                        |    |   |
| Southern                Tier Acquisition II, LLC and Oneida Entertainment Holdings Inc.,                15% 5                year secured promissory note |   |                        | 700,000 |   |
|                                                                                                                                                      |   |                        |    |   |
| Total                                                                                                                                                     |   | $                           | 721,000 |   |
|                                                                                                                                                      |   |                        |    |   |
| Less:                current portion                                                                                                                      |   |                        | 21,000  |   |
|                                                                                                                                                      |   |                        |    |   |
| Long                term portion                                                                                                                          |   | $                           | 700,000 |   |

----

**Loss      per Share**

**Related      Party Transactions**

**Recent      Accounting Pronouncements**

----

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

**Forward      Looking Statements**

**Recent      Developments**

**Membership      Interest in American Racing**

**Changes      in Officers and Directors**

**Plan      of Operations**

**,**
**,**

----

**Results      of Operations**

**For      the three month period ended May 31, 2007**

----

**Critical      Accounting Policies and Estimates**

----

**Financial      Condition**

** **

**Liquidity      and Capital Resources**

**c**

----

**Off-balance      sheet arrangements.**

**Item      3. Controls and Procedures**

----

**PART      II. Other Information**

**Item      2.**
** **
**Unregistered      Sales of Equity Securities.**

|                           |   |                                         |   | **Number                of** |
|---------------------------|--------|-----------------------------------------|--------|------------------------------|
| **Date**                  |   | **Securities                issued to** |   | **Shares**                   |
|                      |   |                                    |   |                         |
| March                2007 |   | Edward                Tracy             |   | 10,000,000                   |

**Item      3. Defaults Upon Senior Securities**

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

| **Exhibit** |   | **Document**                                                                                                                                                           |
|-------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                   |
| 31.1        |   | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of                2002.*                                                                |
|        |   |                                                                                                                                                                   |
| 31.2        |   | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of                2002.*                                                                |
|        |   |                                                                                                                                                                   |
| 32.1        |   | Certification                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. * |
|        |   |                                                                                                                                                                   |
| 32.2        |   | Certification                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. * |

----

**(Remainder      of page left intentionally blank)**

----

**SIGNATURES**

|                             |                                                                                |                                           |
|----------------------------------|-------------------------------------------------------------------------------------|------------------------------------------------|
| DATE:              JULY 23, 2007 | BY:                                                                            | /s/              John              G. Simmonds |
|                             | John                G. SimmondsPresident                and Chief Executive Officer |

|                             |                                                                                                              |                                           |
|----------------------------------|-------------------------------------------------------------------------------------------------------------------|------------------------------------------------|
| DATE:              JULY 23, 2007 | BY:                                                                                                          | /s/              Gary              N. Hokkanen |
|                             | Gary                N. HokkanenChief                Financial Officer(principal                financial officer) |

----

**Exhibit      Index**

| **Exhibit** |   | **Document**                                                                                                                                                           |
|-------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                   |
| 31.1        |   | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of                2002.*                                                                |
|        |   |                                                                                                                                                                   |
| 31.2        |   | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of                2002.*                                                                |
|        |   |                                                                                                                                                                   |
| 32.1        |   | Certification                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. * |
|        |   |                                                                                                                                                                   |
| 32.2        |   | Certification                pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                906 of                the Sarbanes-Oxley Act of 2002. * |

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**(Remainder      of page left intentionally blank)**

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