----

----

----

| For                Quarter Ended April 30, 2006 |   | Commission                File Number                333-118808 |
|-------------------------------------------------|--------|-----------------------------------------------------------------|

| Nevada                                         |   | 98-0434104                         |
|------------------------------------------------|--------|------------------------------------|
| (State                or other jurisdiction of |   | (IRS                Employer       |
| incorporation                or organization)  |   | Identification                No.) |

| 3715                West 14th Avenue, Vancouver, B.C. Canada |   | V6R                2W8    |
|--------------------------------------------------------------|--------|---------------------------|
| (Address                of Principal Executive Offices)      |   | (Zip                Code) |

----

**EXPLANATORY        NOTE**

----

|                   |                                               | Page   |
|------------------------|----------------------------------------------------|--------|
| PART                I  | FINANCIAL                INFORMATION               |   |
|                   |                                               |   |
| Item                1  | Financial                Statements                | 3      |
|                   |                                               |   |
| Item                2. | Managements                Discussion and Analysis | 11     |
|                   |                                               |   |
| Item                3. | Controls                and Procedures             | 12     |
|                   |                                               |   |
| Part                II | OTHER                INFORMATION                   |   |
|                   |                                               |   |
| Item                5. | Other                Information                   | 12     |
|                   |                                               |   |
| Item                6. | Exhibits                                           | 13     |
|                   |                                               |   |
| Signatures             |                                               | 13     |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**THIRD      QUARTER FINANCIAL STATEMENTS**

**APRIL      30, 2006**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

----

**EUROPA        TRADE AGENCY LTD.**

**(A        Development Stage Company)**

**BALANCE      SHEETS**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

|                                                                       |   | **APRIL                30,****2006** |         | **JULY                31,****2005** |   |
|----------------------------------------------------------------------------|--------|--------------------------------------|--------------|-------------------------------------|--------|
|                                                                       |   |                                 |         |                                |   |
| **ASSETS**                                                                 |   |                                 |         |                                |   |
|                                                                       |   |                                 |         |                                |   |
| **Current**                                                                |   |                                 |         |                                |   |
| Cash                                                                       |   | $                                    | **215**      |                                | $      | 3,534 |   |
| Goods                and Services Tax receivable                           |   |                                 | **1,868**    |                                |   | 662 |   |
|                                                                       |   |                                 | **2,083**    |                                |   | 4,196 |   |
|                                                                       |   |                                 |         |                                |   |   |   |
| **Property                and Equipment**,                net (Note 3)     |   |                                 | **-**        |                                |   | - |   |
|                                                                       |   |                                 |         |                                |   |   |   |
|                                                                       |   | $                                    | **2,083**    |                                | $      | 4,196 |   |
|                                                                       |   |                                 |         |                                |   |   |   |
| **LIABILITIES**                                                            |   |                                 |         |                                |   |   |   |
|                                                                       |   |                                 |         |                                |   |   |   |
| **Current**                                                                |   |                                 |         |                                |   |   |   |
| Accounts                payable and accrued liabilities                    |   | $                                    | **24,225**   |                                | $      | 5,477 |   |
| Advances                payable to related parties                         |   |                                 | **24,210**   |                                |   | 11,891 |   |
|                                                                       |   |                                 | **48,435**   |                                |   | 17,368 |   |
| **STOCKHOLDERS’                DEFICIENCY**                          |   |                                 |         |                                |   |   |   |
|                                                                       |   |                                 |         |                                |   |   |   |
| **Common                Stock**                                            |   |                                 |         |                                |   |   |   |
| Authorized:                                                                |   |                                 |         |                                |   |   |   |
| 50,000,000                common shares with par value of $0.001 per share |   |                                 |         |                                |   |   |   |
|                                                                       |   |                                 |         |                                |   |   |   |
| Issued                and outstanding:                                     |   |                                 |         |                                |   |   |   |
| 3,010,000                common shares at April 30, 2006 and July 31, 2005 |   |                                 | **3,010**    |                                |   | 3,010 |   |
|                                                                       |   |                                 |         |                                |   |   |   |
| Additional                paid-in capital                                  |   |                                 | **103,640**  |                                |   | 93,890 |   |
|                                                                       |   |                                 |         |                                |   |   |   |
| **Accumulated                Other Comprehensive Loss**                    |   |                                 | **(3,542**   | **)**                               |   | (938 | ) |
| **Accumulated                Deficit During The Development Stage**        |   |                                 | **(149,460** | **)**                               |   | (109,134 | ) |
|                                                                       |   |                                 | **(46,352**  | **)**                               |   | (13,172 | ) |
|                                                                       |   |                                 |         |                                |   |   |   |
|                                                                       |   | $                                    | **2,083**    |                                | $      | 4,196 |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**STATEMENTS      OF OPERATIONS**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

|                                                                    |                                                      |                                                     |   CUMULATIVEPERIOD                FROMINCORPORATIONJUNE                6, 2003 TO APRIL 30, 2006 |
|-------------------------------------------------------------------------|-----------------------------------------------------------|----------------------------------------------------------|------------------------------------------------------------------------------------------------------------|
|                                                                    |                                                      |
|                                                                    |                                                      |
|                                                                    |                                                      |
|                                                                    | THREE                MONTHS ENDED APRIL                30 | NINE                MONTHS ENDED APRIL                30 |
|                                                                    |
|                                                                    | **2006**                                                  | 2005                                                     | 2006                                                                                                       | 2005 |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Sales                Revenue**                                        | **$**                                                     | **-**                                                    | $                                                                                                          | 1,530 | $ | - | $ | 3,277 | $ | 6,662 |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Cost                of Sales**                                        |                                                      | **-**                                                    |                                                                                                       | 1,441 |   | - |   | 3,512 |   | 6,438 |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Gross                Margin (Loss)**                                  |                                                      | **-**                                                    |                                                                                                       | 89 |   | - |   | (235) |   | 224 |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Expenses**                                                            |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| Advertising                and promotion                                |                                                      | **-**                                                    |                                                                                                       | 19 |   | - |   | 3,610 |   | 6,308 |
| Bad                debts                                                |                                                      | **-**                                                    |                                                                                                       | **-** |   |   |   | **-** |   | 595 |
| Bank                charges and interest                                |                                                      | **-**                                                    |                                                                                                       | 213 |   | 12 |   | 784 |   | 1,215 |
| Depreciation                                                            |                                                      | **-**                                                    |                                                                                                       | 12 |   | - |   | 37 |   | 242 |
| Foreign                exchange loss                                    |                                                      | **-**                                                    |                                                                                                       | 215 |   | - |   | 2,224 |   | - |
| Licenses                and dues                                        |                                                      | **-**                                                    |                                                                                                       | - |   | - |   | - |   | 310 |
| Management                services (Note 4)                             |                                                      | **10,219**                                               |                                                                                                       | 7,500 |   | 17,719 |   | 22,500 |   | 62,719 |
| Office                and sundry                                        |                                                      | **313**                                                  |                                                                                                       | 1,128 |   | 1,603 |   | 6,019 |   | 8,918 |
| Professional                fees                                        |                                                      | **7,717**                                                |                                                                                                       | 1,672 |   | 16,590 |   | 14,296 |   | 38,697 |
| Rent                (Note 4)                                            |                                                      | **750**                                                  |                                                                                                       | 1,500 |   | 2,250 |   | 4,500 |   | 11,250 |
| Telephone                                                               |                                                      | **1,938**                                                |                                                                                                       | 242 |   | 2,152 |   | 582 |   | 5,656 |
| Travel                                                                  |                                                      | **-**                                                    |                                                                                                       | 69 |   | - |   | 2,604 |   | 13,774 |
|                                                                    |                                                      | **20,937**                                               |                                                                                                       | 12,570 |   | 40,326 |   | 57,156 |   | 149,684 |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Net                Loss For The Period**                              | **$**                                                     | **(20,937)**                                             | $                                                                                                          | (12,481) | $ | (40,326) | $ | (57,391) | $ | (149,460) |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Net                Loss Per Share**,                Basic and diluted |  **$**                                               |  **(0.01)**                                         |  $                                                                                                    |  (0.01) |  $ |  (0.01) |  $ |  (0.02) |   |   |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Weighted                Average Number Of Common Shares Outstanding** |                                                      | **3,010,000**                                            |                                                                                                       | 3,010,000 |   | 3,010,000 |   | 3,010,000 |   |   |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Other                Comprehensive Loss**                             |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| Net                loss for the period                                  | **$**                                                     | **(20,937)**                                             | $                                                                                                          | (12,481) | $ | (40,326) | $ | (57,391) |   |   |
| Foreign                currency translation adjustment                  |                                                      | **(1,219)**                                              |                                                                                                       | 219 |   | (2,604) |   | 1,648 |   |   |
|                                                                    |                                                      |                                                     |                                                                                                       |   |   |   |   |   |   |   |
| **Total                Comprehensive Loss**                             | **$**                                                     | **(22,156)**                                             | $                                                                                                          | (12,262) | $ | (42,930) | $ | (55,743) |   |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**STATEMENTS      OF CASH FLOWS**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

|                                                                                                         |                                                          |                                                         |   |     | CUMULATIVEPERIOD                  FROMINCORPORATIONJUNE                  62003                  TOAPRIL                  302006 |
|--------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------|--------------------------------------------------------------|--------|----------|---------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                         |                                                          |                                                         |   |     |
|                                                                                                         |                                                          |                                                         |   |     |
|                                                                                                         |                                                          |                                                         |   |     |
|                                                                                                         | THREE                  MONTHS ENDED APRIL                  30 | NINE                  MONTHS ENDED APRIL                  30 |
|                                                                                                         |
|                                                                                                         | **2006**                                                      | 2005                                                         | 2006   | 2005     |
|                                                                                                         |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| **Operating                  Activities**                                                                    |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| Net                  loss for the period                                                                     | **$**                                                         | **(20,937)**                                                 | $      | (12,481) | $                                                                                                                               | (40,326) | $ | (57,391) | $ | (149,460) |
|                                                                                                         |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| **Adjustments                  To Reconcile Net Loss To Cash Used By Operating                  Activities** |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| Depreciation                                                                                                 |                                                          | **-**                                                        |   | 12       |                                                                                                                            | - |   | 37 |   | 242 |
| Donated                  services                                                                            |                                                          | **750**                                                      |   | 9,000    |                                                                                                                            | 9,750 |   | 27,000 |   | 63,750 |
| Goods                  and Services Tax receivable                                                           |                                                          | **(538)**                                                    |   | -        |                                                                                                                            | (1,206) |   | - |   | (1,868) |
| Accounts                  receivable                                                                         |                                                          | **-**                                                        |   | (1,194)  |                                                                                                                            | - |   | (1,053) |   | - |
| Prepaid                  expenses                                                                            |                                                          | **-**                                                        |   | -        |                                                                                                                            | - |   | - |   | - |
| Inventory                                                                                                    |                                                          | **-**                                                        |   | 1,595    |                                                                                                                            | - |   | 4,666 |   | - |
| Accounts                  payable and accrued liabilities                                                    |                                                          | **9,129**                                                    |   | (3,250)  |                                                                                                                            | 18,748 |   | (1,207) |   | 24,225 |
|                                                                                                         |                                                          | **(11,596)**                                                 |   | (6,318)  |                                                                                                                            | (13,034) |   | (27,948) |   | (63,111) |
|                                                                                                         |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| **Investing                  Activity**                                                                      |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| Purchase                  of property and equipment                                                          |                                                          | -                                                            |   | -        |                                                                                                                            | - |   | - |   | (242) |
|                                                                                                         |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| **Financing                  Activities**                                                                    |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| Advances                  payable                                                                            |                                                          | **12,815**                                                   |   | 1,377    |                                                                                                                            | 12,319 |   | 3,109 |   | 39,210 |
| Issue                  of common shares for cash                                                             |                                                          | -                                                            |   | -        |                                                                                                                            | - |   | - |   | 27,900 |
| Bank                  indebtedness                                                                           |                                                          | **-**                                                        |   | (10,839) |                                                                                                                            | - |   | - |   | - |
|                                                                                                         |                                                          | **12,815**                                                   |   | (9,462)  |                                                                                                                            | 12,319 |   | 3,109 |   | 67,110 |
|                                                                                                         |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| **Foreign                  Exchange Effect On Cash**                                                         |                                                          | **(1,219)**                                                  |   | 219      |                                                                                                                            | (2,604) |   | 1,648 |   | (3,542) |
|                                                                                                         |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| **Increase                  (Decrease) In Cash**                                                             |                                                          | **-**                                                        |   | (15,561) |                                                                                                                            | (3,319) |   | (23,191) |   | 215 |
|                                                                                                         |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| **Cash,                  Beginning Of Period**                                                               |                                                          | **215**                                                      |   | 19,794   |                                                                                                                            | 3,534 |   | 27,424 |   | - |
|                                                                                                         |                                                          |                                                         |   |     |                                                                                                                            |   |   |   |   |   |
| **Cash,                  End Of Period**                                                                     | **$**                                                         | **215**                                                      | $      | 4,233    | $                                                                                                                               | 215 | $ | 4,233 | $ | 215 |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**STATEMENT      OF STOCKHOLDERS’ EQUITY**

**APRIL      30, 2006**

**(Unaudited)**

**(Stated      in U.S. Dollars**

|                                                                |   |   | **NUMBER                  OF SHARES** |   |   | **AMOUNT** |   |   | **ADDITIONAL                  PAID-IN CAPITAL** |   |   | **ACCUMULATED                  DEFICIT DURING THE DEVELOPMENT STAGE** |   |   | **ACCUMULATED                  OTHER COMPREHENSIVE LOSS** |   |   | **TOTAL                  STOCKHOLDERS’ EQUITY** |   |
|---------------------------------------------------------------------|--------|--------|---------------------------------------|--------|--------|------------|--------|--------|-------------------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|-----------------------------------------------------------|--------|--------|-------------------------------------------------------|--------|
| Shares                  issued for debt settlement - March 31, 2004 |   |   | 2,000,000                             |   | $      | 2,000      |   | $      | 13,000                                          |   | $      | -                                                                     |   | $      | -                                                         |   | $      | 15,000                                                |   |
| Shares                  issued for cash - May 18, 2004              |   |   | 900,000                               |   |   | 900        |   |   | 17,100                                          |   |   | -                                                                     |   |   | -                                                         |   |   | 18,000                                                |   |
| Shares                  issued for cash - June 30, 2004             |   |   | 110,000                               |   |   | 110        |   |   | 9,790                                           |   |   | -                                                                     |   |   | -                                                         |   |   | 9,900                                                 |   |
| Foreign                  currency translation                       |   |   | -                                     |   |   | -          |   |   | -                                               |   |   | -                                                                     |   |   | (45                                                       | )      |   | (45                                                   | )      |
| Non-cash                  services from a director                  |   |   | -                                     |   |   | -          |   |   | 18,000                                          |   |   | -                                                                     |   |   | -                                                         |   |   | 18,000                                                |   |
| Net                  loss for the period                            |   |   | -                                     |   |   | -          |   |   | -                                               |   |   | (39,022                                                               | )      |   | -                                                         |   |   | (39,022                                               | )      |
| Balance,                  July 31, 2004                             |   |   | 3,010,000                             |   |   | 3,010      |   |   | 57,890                                          |   |   | (39,022                                                               | )      |   | (45                                                       | )      |   | 21,833                                                |   |
| Foreign                  currency translation                       |   |   | -                                     |   |   | -          |   |   | -                                               |   |   | -                                                                     |   |   | (893                                                      | )      |   | (893                                                  | )      |
| Non-cash                  services from a director                  |   |   | -                                     |   |   | -          |   |   | 36,000                                          |   |   | -                                                                     |   |   | -                                                         |   |   | 36,000                                                |   |
| Net                  loss for the period                            |   |   | -                                     |   |   | -          |   |   | -                                               |   |   | (70,112                                                               | )      |   | -                                                         |   |   | (70,112                                               | )      |
| Balance,                  July 31, 2005                             |   |   | 3,010,000                             |   |   | 3,010      |   |   | 93,890                                          |   |   | (109,134                                                              | )      |   | (938                                                      | )      |   | (13,172                                               | )      |
| Foreign                  currency translation                       |   |   | -                                     |   |   | -          |   |   | -                                               |   |   | -                                                                     |   |   | (2,604                                                    | )      |   | (2,604                                                | )      |
| Non-cash                  services from a director                  |   |   | -                                     |   |   | -          |   |   | 9,750                                           |   |   | -                                                                     |   |   | -                                                         |   |   | 9,750                                                 |   |
| Net                  loss for the period                            |   |   | -                                     |   |   | -          |   |   | -                                               |   |   | (40,326                                                               | )      |   | -                                                         |   |   | (40,326                                               | )      |
| Balance,                  April 30, 2006                            |   |   | 3,010,000                             |   | $      | 3,010      |   | $      | 103,640                                         |   | $      | (149,460                                                              | )      | $      | (3,542                                                    | )      | $      | (46,352                                               | )      |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**APRIL      30, 2006 AND 2005**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

**BASIS      OF PRESENTATION**

**1.**
**NATURE      OF OPERATIONS**

|  | a) | Organization |
|--|----|--------------|

|   | b) | Development                Stage Activities |
|--------|----|---------------------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**APRIL      30, 2006 AND 2005**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

**1.**
**NATURE      OF OPERATIONS**

|   | c) | Going                Concern |
|--------|----|------------------------------|

| **2.  ** | **SIGNIFICANT                ACCOUNTING POLICIES** |
|--------------------|----------------------------------------------------|

| a)   | Use                of Estimates |
|----------------|---------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**APRIL      30, 2006 AND 2005**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

| **2.** | **SIGNIFICANT                ACCOUNTING POLICIES**                (Continued) |
|--------|-------------------------------------------------------------------------------|

|   | b) | Development                Stage Company |
|--------|----|------------------------------------------|

|   | c) | Inventory |
|--------|----|-----------|

|   | d) | Property                and Equipment |
|--------|----|---------------------------------------|

|   | e) | Foreign                Currency Translation |
|--------|----|---------------------------------------------|

|   | f) | Revenue                Recognition |
|--------|----|------------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**APRIL      30, 2006 AND 2005**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

| **2.** | **SIGNIFICANT                ACCOUNTING POLICIES**                (Continued) |
|--------|-------------------------------------------------------------------------------|

|   | g) | Stock                Based Compensation |
|--------|----|-----------------------------------------|

|  | h) | Basic                and Diluted Loss Per Share |
|--|----|-------------------------------------------------|

|   | i) | Income                Taxes |
|--------|----|-----------------------------|

|   | j) | Financial                Instruments |
|--------|----|--------------------------------------|

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**APRIL      30, 2006 AND 2005**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

| **3.** | **PROPERTY                AND EQUIPMENT** |
|--------|-------------------------------------------|

|                                |   |   | **COST** |   |   | **ACCUMULATED                  DEPRECIATION** |   |   | **NET                  BOOK VALUE** |   |
|-------------------------------------|--------|--------|----------|--------|--------|-----------------------------------------------|--------|--------|-------------------------------------|--------|
|                                |   |   |     |   |   |                                          |   |   |                                |   |
| Computer                  equipment |   | $      | 242      |   | $      | 242                                           |   | $      | -                                   |   |

| **4.** | **RELATED                PARTY TRANSACTIONS** |
|--------|-----------------------------------------------|

|  | a) | Advances                  payable are due to directors of the Company for expenses paid on                  behalf of                  the Company and for travel expenses incurred. The amounts bear                  no                  interest, are unsecured and have no stated terms of                  repayment. |
|--|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | b) | The                  Company has been provided with non-cash services (until April 30,                  2006)                  and premises from a director. Accordingly, management services                  of $ 7,500                  (2005 - $22,500) and rent of $2,250 (2005 - $4,500) have been recorded                  in                  the nine months ended April 30, 2006, and additional paid-in capital                  has                  been increased by the corresponding amount. The value of the management                  services has been calculated by establishing the fair value of                  the hourly                  rate, times the estimated total hours spent by the director. No                  monetary                  amount will be paid or exchanged for either of these                  services. |
|--|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **5.** | **INCOME                TAX** |
|--------|-------------------------------|

|                                                |   |  THREE                  MONTHS ENDED APRIL 30 |        |
|------------------------------------------------|--------|----------------------------------------------------|-------------|
|                                                |   |                                               | **2006**    |   |   | 2005 |   |
|                                           |   |                                               |        |   |   |   |   |
| Loss                  for the period           |   | $                                                  | **(20,937** | **)** | $ | (12,481 | ) |
| Statutory                  tax rate            |   |                                               | **35**      | **%** |   | 35 | % |
|                                           |   |                                               |        |   |   |   |   |
| Expected                  income tax provision |   | $                                                  | **(7,328**  | **)** | $ | (4,368 | ) |
| Unrecognized                  tax losses       |   |                                               | **7,328**   |   |   | 4,368 |   |
|                                           |   |                                               |        |   |   |   |   |
|                                           |   | $                                                  | -           |   | $ | - |   |

----

**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**APRIL      30, 2006 AND 2005**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

| **5.** | **INCOME                TAX**                (Continued) |
|--------|----------------------------------------------------------|

|                               |   |   | **2006**    |   |   | 2005    |   |
|------------------------------------|--------|--------|-------------|--------|--------|---------|--------|
|                               |   |   |        |   |   |    |   |
| Operating                loss      |   | $      | **52,300**  |   | $      | 33,700  |   |
| Valuation                allowance |   |   | **(52,300** | **)**  |   | (33,700 | )      |
|                               |   |   |        |   |   |    |   |
|                               |   | $      | -           |   | $      | -       |   |

| **6.** | **MERGER                TRANSACTION ** |
|--------|---------------------------------------------|

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**EUROPA      TRADE AGENCY LTD.**

**(A      Development Stage Company)**

**NOTES      TO FINANCIAL STATEMENTS**

**APRIL      30, 2006 AND 2005**

**(Unaudited)**

**(Stated      in U.S. Dollars)**

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

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Item      3. Controls and Procedures

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| 2.1    | Merger              Agreement                                   |
|--------|-----------------------------------------------------------------|
|   |                                                            |
| 31.1   | Certification                pursuant to Rule 13a-14(a)         |
|   |                                                            |
| 32.1   | Certification                pursuant to 18 U.S.C. Section 1350 |

SIGNATURES

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