UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  Form 10-QSB  X QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2006   __ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____.   TABATHA V, INC. (Name of small business in its charter)  Colorado0-3176784-1536521(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification Number)  c/o First Asia Finance Group Limited Room 3505-06, 35th Floor Edinburgh Tower, The Landmark 15 Queens Road Central, Hong Kong (Address of principal executive offices)  Issuers telephone number: 852-2736-2111  Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No  .  Applicable only to issuers involved in bankruptcy proceedings during the past five years.  Check whether the issuer has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes   No  ;  Applicable 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:  At September 30, 2006 there were 366,875 shares outstanding.   Transitional Small Business Disclosure Format (Check one):  Yes      No X   - 1 -   PART 1 - FINANCIAL  INFORMATION  ITEM 1.  FINANCIAL STATEMENTS AND EXHIBITS            TABATHA V, INC. (A DEVELOPMENT STAGE COMPANY) UNAUDITED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2006, AND 2005 AND THE PERIOD FROM MARCH 17, 2000 (INCEPTION) TO SEPTEMBER 30, 2006           - 2 -   TABATHA V, INC. (A DEVELOPMENT STAGE COMPANY)   INDEX TO UNAUDITED FINANCIAL STATEMENTS  PAGEBALANCE SHEETS (UNAUDITED)4STATEMENTS OF OPERATIONS (UNAUDITED)5STATEMENTS OF CASH FLOWS (UNAUDITED)6NOTES TO UNAUDITED FINANCIAL STATEMENTS7                 - 3 -   TABATHA V, INC. (A DEVELOPMENT STAGE COMPANY)  BALANCE SHEETS  September 30, 2006June 30,
2006ASSETS(Unaudited)(Audited)Total current assets$$-Total assets$$-LIABILITIES AND STOCKHOLDERS' DEFICITCurrent liabilitiesAccounts payable and accrued liabilities$2,170$1,170Total current liabilities2,1701,170Stockholders' deficitPreferred stock: no par value; 10,000,000 shares
authorized; no shares issued and outstanding--Common stock: no par value; 100,000,000 shares authorized; 366,875 shares issued and outstanding76,92576,925Deficit accumulated during the development stage(79,095)(78,095)Total stockholders' deficit(2,170)(1,170)Total liabilities and stockholders' deficit$$-  See accompanying notes to unaudited financial statements  - 4 -   TABATHA V, INC. (A DEVELOPMENT STAGE COMPANY)  STATEMENTS OF OPERATIONS (UNAUDITED)  Period from March 17,For the Three Months Ended2000 [inception] toSeptember 30,September 30,200620052006Revenues$-$-$-Operating expensesSelling, general and administrative expense-23058,144Accounting1,0001,00011,824Legal--5,088Rent-1503,300Office supplies--982Total operating expenses1,0001,38079,338Operating loss(1,000)(1,380)(79,338)Other incomeInterest income--243Total other income--243Net loss before income taxes(1,000)(1,380)(79,095)Provision for income taxes---Net loss$(1,000)$(1,380)$(79,095)Basic and diluted net loss per share$(0.00)$(0.00)Weighted average number of shares outstanding366,875366,875 See accompanying notes to unaudited financial statements  - 5 -   TABATHA V, INC. (A DEVELOPMENT STAGE COMPANY)  STATEMENTS OF CASH FLOWS (UNAUDITED)  For the Three Months EndedPeriod from
March 17, 2000 [inception] toSeptember 30,September 30,200620052006Cash flows from operating activities:Net loss$(1,000)$(1,380)$(79,095)Adjustments to reconcile net loss tonet cash used in operations:Rent charged to paid in capital-1503,300Stock issued for services--43,525Warrants issued for services--13,300Changes in operating liabilities and assets:Increase in accounts payable1,000-2,170Net cash used in operating activities-(1,230)(16,800)Cash flows from financing activities:Issuance of common stock-1,20016,800Net cash provided by financing activities:-1,20016,800Decrease in cash and cash equivalents-(30)-Cash and cash equivalents, beginning of period-53-Cash and cash equivalents, end of period$-$23$-Supplemental disclosures of cash flow information:Cash paid for interest$-$-Cash paid for income taxes$-$-  See accompanying notes to unaudited financial statements      - 6 -   TABATHA V, INC. (A DEVELOPMENT STAGE COMPANY)  NOTES TO UNAUDITED FINANCIAL STATEMENTS SEPTEMBER 30, 2006  1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  QUARTERLY FINANCIAL STATEMENTS  The accompanying financial statements have been prepared by Tabatha V, Inc. without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These financial statements include all of the adjustments which, in the opinion of management, are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. These financial statements should be read in conjunction with the audited financial statements as of June 30, 2006, as filed with Form 10-KSB.  DESCRIPTION OF BUSINESS  Tabatha V, Inc. (a development stage company) (the "Company") was incorporated under the laws of the State of Colorado on March 17, 2000. The principal office of the corporation is room 2505  06, 35th floor Edinburgh Tower, The Landmark, 15 Queens Road Central, Hong Kong.  The Company is an enterprise in the development stage as defined by Statement No.7 of the Financial Accounting Standards Board and has not engaged in any business other than organizational efforts. The Company has no fulltime employees and owns no real property. The Company intends to operate as a capital market access corporation and has registered with the U.S. Securities and Exchange Commission under the Securities Exchange Act of 1934. The Company intends to seek to acquire one or more existing businesses that have existing management, through merger or acquisition. Management of the Company will have virtually unlimited discretion in determining the business activities in which the Company might engage.  ESTIMATES AND ASSUMPTIONS  The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.  LOSS PER SHARE  Basic loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Due to net losses,  - 7 -   potentially dilutive securities would be antidilutive and are therefore not included. At September 30, 2006 there were no potentially dilutive securities outstanding.  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS   SPECIAL NOTE OF CAUTION REGARDING FORWARD-LOOKING STATEMENTS  Certain statements in this report, including statements in the following discussion which are not statements of historical fact, are what are known as forward looking statements, which are basically statements about the future.  For that reason, these statements involve risk and uncertainty since no one can accurately predict the future.  Words such as plans, intends, will, hopes, seeks, anticipates, expects and the like often identify such forward looking statements, but are not the only indication that a statement is a forward looking statement.  Such forward looking statements include statements concerning our plans and objectives with respect to the present and future operations of the Company, and statements which express or imply that such present and future operations will or may produce revenues, income or profits.  Numerous factors and future events could cause the Company to change such plans and objectives or fail to successfully implement such plans or achieve such objectives, or cause such present and future operations to fail to produce revenues, income or profits.  Therefore, the reader is advised that the following discussion should be considered in light of the discussion of risks and other factors contained in this report on Form 10-QSB and in the Companys other filings with the Securities and Exchange Commission.  No statements contained in the following discussion should be construed as a guarantee or assurance of future performance or future results.  Plan of Operations  During the period from March 17, 2000 (inception) through September 30, 2006, the Company did not engage in any significant operations other than organizational activities, acquisition of capital and preparation and filing of its registration statement on Form 10-SB under the Securities Exchange Act of 1934, as amended, compliance with its periodical reporting requirements and initial efforts to locate a suitable merger or acquisition candidate. No revenues were received by the Company during this period. The Company continued its efforts to locate a suitable business acquisition candidate and thereafter to complete a business acquisition transaction. The Company anticipated incurring a loss for the fiscal year as a result of expenses associated with compliance regarding the reporting requirements of the Securities Exchange Act of 1934, and expenses associated with locating and evaluating acquisition candidates. The Company did not expect to generate revenues until it completed a business acquisition, and, depending upon the performance of the acquired business, it may also continue to operate at a loss after completion of a business combination. During the month of August 2005, the Company did engage in negotiations with Power Save Energy Corp. regarding a share exchange, this deal was later rescinded.  As of September 30, 2006 the Company is still in the development stage. The Company can not predict to what extent its liquidity and capital resources would have been diminished prior to or after the consummation of a business combination or whether its  - 8 -   capital will be further depleted by the operating losses (if any) of the business entity which the Company may eventually acquire.  Need for Additional Financing  The Company will require additional capital in order to pay the costs associated with carrying out its plan of operations and the costs of compliance with its continuing reporting obligations under the Securities Exchange Act of 1934, as amended, for the fiscal year ending June 30, 2007 and thereafter.  This additional capital will be required whether or not the Company is able to complete a business combination transaction during the current fiscal year.  Furthermore, once a business combination is completed, the Companys needs for additional financing are likely to increase substantially.  No specific commitments to provide additional funds have been made by management or other stockholders, and the Company has no current plans, proposals, arrangements or understandings to raise additional capital through the sale or issuance of additional securities prior to the location of a merger or acquisition candidate.  Accordingly, there can be no assurance that any additional funds will be available to the Company to allow it to cover its expenses.  Notwithstanding the foregoing, however, to the extent that additional funds are required, the Company anticipates that it will either continue to rely on its majority shareholder to pay expenses on its behalf, or it will seek to raise capital through the private placement of restricted securities. In addition, in order to minimize the amount of additional cash which is required in order to carry out its business plan, the Company might seek to compensate certain service providers by issuances of stock in lieu of cash.   ANY FORWARD-LOOKING STATEMENTS INCLUDED IN THIS FORM 10-QSB REPORT REFLECT MANAGEMENTS BEST JUDGMENT BASED UPON FACTORS CURRENTLY KNOWN AND INVOLVE RISKS AND UNCERTAINTIES.  ACTUAL RESULTS MAY VARY MATERIALLY.  ITEM 3. CONTROLS AND PROCEDURES  The Company's Chief Executive Officer and Chief Financial Officer (or those persons performing similar functions), after evaluating the effectiveness of the Company's disclosure controls and procedures (as defined in Rules 13a-14(c) and 15d-14(c) under the Securities Exchange Act of 1934, as amended) as of a date within 90 days before the filing date of this quarterly report (the "Evaluation Date"), have concluded that, as of the Evaluation Date, the Company's disclosure controls and procedures were effective to ensure the timely collection, evaluation and disclosure of information relating to the Company that would potentially be subject to disclosure under the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. There were no significant changes in the Company's internal controls or in other factors that could significantly affect the internal controls subsequent to the Evaluation Date.   - 9 -   PART II - OTHER INFORMATION   ITEM 1. LEGAL PROCEEDINGS.  None.  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  None.  ITEM 5. OTHER INFORMATION  None.  ITEM 6. EXHIBITS   (a) The following exhibits are filed herewith:  31.1 Certification pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.  31.2 Certification pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended.  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.  - 10 -   SIGNATURE  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.   TABATHA V, INC.     By: /s/ Kevin Lau Hing Bun, Chief Executive Officer  Date: November 9, 2006                  - 11 -