U.S. SECURITIES AND EX CHANGE COMMISSION Washington, D.C.  20549  FORM 10-QSB S QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the quarterly period ended June 30, 2006  £ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the transition period from     to  Commission File No. 000-32735  FREEDOM RESOURCES ENTERPRISES, INC. (Exact name of small business issuer as specified in its charter)  Nevada
(State or other jurisdiction of incorporation
or organization)87-0567033
(IRS Employer Identification No.)  901 East 7800 South, Midvale, UT  84047 (Address of principal executive offices)  801-566-5931 (Issuers telephone number)  Not Applicable (Former name and address)  Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes S  No £  APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:  Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13, or 15(d) of the Exchange Act subsequent to 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 June 30, 2006:  13,000,000 shares of common stock, par value $0.001.  Transitional Small Business Format:  Yes £   No S  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  S  No £   1   FREEDOM RESOURCES ENTERPRISES, INC. FORM 10-QSB JUNE 31, 2006  INDEX PagePART I.Financial Information3Item 1.  Unaudited Condensed Financial Statements

Unaudited Condensed Balance Sheets  June 30, 2006 and
December 31, 2005

Unaudited Condensed Statements of Operations for the three and
six months ended June 30, 2006 and 2005, and from inception on
November 6, 1996 through June 30, 2006

Unaudited Condensed Statements of Cash Flows for the six
months ended June 30, 2006 and 2005, and from inception on
November 6, 1996 through June 30, 2006

Notes to Unaudited Condensed Financial Statements

Item 2.  Managements Discussion and Analysis of Financial
Condition or Plan of Operation

Item 3.  Controls and procedures4


6



7



8

9-10


11

14PART II.Other Information

Item 6.  Exhibits and Reports on Form 8-K14Signatures15  (Inapplicable items have been omitted)  2    PART I. Financial Information  Item 1.  Unaudited Condensed Financial Statements  In the opinion of management, the accompanying unaudited condensed financial statements included in this Form 10-QSB reflect all adjustments (consisting only of normal recurring accruals) necessary for a fair presentation of the results of operations for the periods presented.  The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year.          3    FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  UNAUDITED CONDENSED FINANCIAL STATEMENTS  JUNE 30, 2006            4    FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]     CONTENTS   PAGE-Unaudited Condensed Balance Sheets,June 30, 2006 and December 31, 20056-Unaudited Condensed Statements of Operations,for the three and six months ended June 30, 2006and 2005 and from inception on November 6,1996 through June 30, 20067-Unaudited Condensed Statements of Cash Flows,for the six months ended June 30, 2006and 2005 and from inception on November 6,1996 through June 30, 20068-Notes to Unaudited Condensed Financial Statements9 - 16      5    FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  UNAUDITED CONDENSED BALANCE SHEETS  ASSETSJune 30,December 31,20062005CURRENT ASSETS:Cash$1,051$1,761Total Current Assets1,0511,761PROPERTY AND EQUIPMENT, net--OTHER ASSETS:Manuscripts and Transcripts, net--$1,051$1,761LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)CURRENT LIABILITIES:Accounts payable$7,082$53,571Accounts payable  related party-180Advances from a shareholder55,000-Accrued taxes-100Accrued interest  related party1,279352Total Current Liabilities63,36154,203CONVERTIBLE NOTE PAYABLE  RELATED PARTY5,00010,000Total Liabilities68,36164,203STOCKHOLDERS' EQUITY (DEFICIT):Preferred stock, $.001 par value,5,000,000 shares authorized,no shares issued and outstanding--Common stock, $.001 par value,50,000,000 shares authorized,13,000,000 and 12,000,000 sharesissued and outstanding, respectively13,00012,000Capital in excess of par value52,48147,918Deficit accumulated during thedevelopment stage(132,791)(122,360)Total Stockholders' Equity (Deficit)(67,310)(62,442)$1,051$1,761 Note: The balance sheet at December 31, 2005 was taken from the audited financial statements at that date and condensed. The accompanying notes are an integral part of these unaudited condensed financial statements.  6    FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS  From InceptionFor the ThreeFor the Sixon November 6,Months EndedMonths Ended1996 ThroughJune 30,June 30,June 30,20062005200620052006REVENUE$-$600$-$600$3,560EXPENSES:Depreciation and amortization----4,174General and administrative5,2569998,9415,93998,300Research and development----15,674Impairment of long-lived assets----21,285Total Expenses5,2569998,9415,939139,433LOSS BEFORE OTHER INCOME(EXPENSE)(5,256)(399)(8,941)(5,339)(135,873)OTHER INCOME (EXPENSE):Interest income----1,216Interest expense  related party(1,221)(100)(1,490)(148)(2,010)Gain on settlement of debt---4,0974,097Total Other Income (Expense)(1,221)(100)(1,490)3,9493,303LOSS BEFORE INCOMETAXES(6,477)(499)(10,431)(1,390)(132,570)CURRENT TAX EXPENSE-----DEFERRED TAX EXPENSE-----LOSS FROM CONTINUINGOPERATIONS(6,477)(499)(10,431)(1,390)(132,570)CUMULATIVE EFFECT OFCHANGE IN ACCOUNTINGPRINCIPLE----(221)NET LOSS$(6,477)$(499)$(10,431)$(1,390)$(132,791)LOSS PER COMMON SHARE:Continuing operations$(.00)$(.00)$(.00)$(.00)Change in accounting principle----Loss per common share$(.00)$(.00)$(.00)$(.00)  The accompanying notes are an integral part of these unaudited condensed financial statements.  7    FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS From InceptionFor the Sixon November 6,Months Ended1996 ThroughJune 30,June 30,200620052006Cash Flows from Operating Activities:Net loss$(10,431)$(1,390)$(132,791)Adjustments to reconcile net loss to net cashused by operating activities:Amortization expense--2,432Depreciation expense--1,742Loss on impairment of long-lived assets--21,285Effect of change in accounting principle--221Gain on settlement of debt-(4,097)(4,097)Changes in assets and liabilities:Increase (decrease) in accounts payable(46,489)(588)11,179Increase (decrease) in accounts payable  related party(180)(420)-Increase (decrease) in accrued taxes(100)31-Increase in accrued interest  related party1,4901482,010Net Cash (Used) by Operating Activities(55,710)(6,316)(98,019)Cash Flows from Investing Activities:Purchase of property and equipment--(1,742)Organization costs--(288)Cost of manuscripts--(23,650)Net Cash (Used) by Investing Activities--(25,680)Cash Flows from Financing Activities:Proceeds from sale of common stock--59,750Stock offering costs--(5,000)Proceeds from issuance of notes payable-5,00015,000Advances from a shareholder55,0001,25055,000Net Cash Provided by Financing Activities55,0006,250124,750Net Increase (Decrease) in Cash(710)(66)1,051Cash at Beginning of Period1,761247-Cash at End of Period$1,051$181$1,051Supplemental Disclosures of Cash Flow Information:Cash paid during the period for:Interest$-$-$-Income taxes$-$-$-  Supplemental Schedule of Non-cash Investing and Financing Activities:  For the six months ended June 30, 2006: Converted $5,563 of note payable and accrued interest for 1,000,000 shares of common stock.  For the six months ended June 30, 2005: In February 2005, the Company recognized a $4,097 gain on settlement of debt.  The accompanying notes are an integral part of these unaudited condensed financial statements.  8    FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS  NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  Organization - Freedom Resources Enterprises, Inc. (the Company) was organized under the laws of the State of Nevada on November 6, 1996.  The Company has not generated significant revenues from its planned principal operations and is considered a development stage company as defined in Statement of Financial Accounting Standards No. 7.  The Company originally planned to research and publish a self-improvement book based on the insights and understanding of major world cultures.  However, the Company never published the book but instead has used the materials gathered during its research to develop a series of eight self-help workshops.  Because the Company has not generated expected revenue, on October 1, 2005 the Company decided to pursue other business opportunities.  The Company, at the present time, is defined by the SEC as a shell company.  A shell company, (other than an asset-backed issuer), is a company with no or nominal operations and either no or nominal assets, or assets consisting solely of cash and cash equivalents, or assets consisting of any amount of cash and cash equivalents and nominal other assets.   The Company has, at the present time, not paid any dividends and any dividends that may be paid in the future will depend upon the financial requirements of the Company and other relevant factors.  Condensed Financial Statements -The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at June 30, 2006 and 2005 and for the periods then ended have been made.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys December 31, 2005 audited financial statements.  The results of operations for the periods ended June 30, 2006 and 2005 are not necessarily indicative of the operating results for the full year.   NOTE 2  CONVERTIBLE NOTES PAYABLE  RELATED PARTY  In December 2005, the Company issued a $5,000 note payable to a shareholder of the Company.  The note accrues interest at 8% per annum, is due in December 2007, and is convertible with accrued interest into 1,000,000 shares of common stock.  At June 30, 2006, accrued interest amounted to $210.   NOTE 3 - CAPITAL STOCK  Common Stock - In June 2006, the Company issued 1,000,000 shares of its previously authorized but unissued common stock on conversion of a note payable of $5,000 with accrued interest of $563. [See Note 6].   9    FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS  NOTE 4 - RELATED PARTY TRANSACTIONS  Advances from a Shareholder  In March and April 2006, an officer/shareholder of the Company advanced $55,000 to the Company.  At June 30, 2006 and December 31, 2005, the Company owed $55,000 and $0, respectively, to the officer/shareholder. The advances bear no interest and are due on demand; however, the Company is imputing interest at 8% per annum.  During the six month period ended June 30, 2006 and 2005, respectively, the Company imputed interest expense of $1,069 and $0.  NOTE 5 - GOING CONCERN  The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern.  However, the Company has incurred losses since its inception and has current liabilities in excess of current assets.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.  In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of its common stock.  There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations.  The financial statements do not include any adjustments that might result from the outcome of these uncertainties.  NOTE 6 - LOSS PER SHARE  The following data show the amounts used in computing loss per share for the periods presented:  For the ThreeFor the SixMonths EndedMonths EndedJune 30,June 30,2006200520062005Loss from continuing operationsavailable to common shareholders(numerator)$(6,477)$(499)$(10,431)$(1,390)Cumulative effect of change inaccounting principle (numerator)$-$-$-$-Weighted average number of commonshares outstanding used in loss pershare for the period (denominator)12,000,0004,750,00013,000,0004,750,000  Dilutive loss per share was not presented, as the Company had no common stock equivalent shares for all periods presented that would affect the computation of diluted loss per share.  At June 30, 2006, the Company had a note payable convertible into 1,000,000 shares which was not used in the computation of loss per share because its effect would be anti-dilutive.       10    Item 2.  Managements Discussion and Analysis of Financial Condition or Plan of Operation  Forward-Looking Statement Notice  This Form 10-QSB contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  For this purpose any statements contained in this Form 10-QSB that are not statements of historical fact may be deemed to be forward-looking statements.  Without limiting the foregoing, words such as may, will, expect, believe, anticipate, estimate or continue or comparable terminology are intended to identify forward-looking statements.  These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within our control.  These factors include but are not limited to economic conditions generally and in the industries in which we may participate; competition within our chosen industry, including competition from much larger competitors; technological advances and failure to successfully develop business relationships.  Description of Business.  Freedom Resources Enterprises, Inc., was incorporated in the State of Nevada on November 6, 1996 to research and publish a self-improvement book based on the insights and understandings of major world cultures.  The working title for the proposed book was Personal Freedom and Prosperity.  We did not publish the book, but instead used materials gathered during our research to develop a series of eight self-help workshops.  Each self-taught workshop consisted of an audiotape and a workbook. The workshops were sold online on a website dedicated to self-improvement products and education.  As of June30, 2006, we have total revenue of $3,560 since inception on November 6, 1996.  Because we did not generate any meaningful revenue, on October 1, 2005 we decided to pursue other business opportunities.  Freedom Resources Enterprises, Inc. intends to seek, investigate, and if warranted, acquire an interest in a business opportunity.  We are not restricting our search to any particular industry or geographical area.  We may therefore engage in essentially any business in any industry.  Our management has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions and other factors.  The selection of a business opportunity in which to participate is complex and extremely risky and will be made by management in the exercise of its business judgment.  There is no assurance that we will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to our company and shareholders.  Because we have no specific business plan or expertise, our activities are subject to several significant risks.  In particular, any business acquisition or participation we pursue will likely be based on the decision of management without the consent, vote, or approval of our shareholders.  Sources of Opportunities  We anticipate that business opportunities may arise from various sources, including officers and directors, professional advisers, securities broker-dealers, venture capitalists, members of the financial community, and others who may present unsolicited proposals.  We will seek potential business opportunities from all known sources, but will rely principally on the personal contacts of our officers and directors as well as indirect associations between them and other business and professional people.  Although we do not anticipate engaging professional firms specializing in business acquisitions or reorganizations, we may retain such firms if management deems it in our best interests.  In some instances, we may publish notices or advertisements seeking a potential business opportunity in financial or trade publications.   11    Criteria  We will not restrict our search to any particular business, industry or geographical location.  We may acquire a business opportunity in any stage of development.  This includes opportunities involving start up or new companies. In seeking a business venture, management will base their decisions on the business objective of seeking long-term capital appreciation in the real value of our company.  We will not be controlled by an attempt to take advantage of an anticipated or perceived appeal of a specific industry, management group, or product.  In analyzing prospective business opportunities, management will consider the following factors:   · available technical, financial and managerial resources;  · working capital and other financial requirements;  · the history of operations, if any;  · prospects for the future;  · the nature of present and expected competition;  · the quality and experience of management services which may be available and the depth of the management;  · the potential for further research, development or exploration;  · the potential for growth and expansion;  · the potential for profit;  · the perceived public recognition or acceptance of products, services, trade or service marks, name identification; and other relevant factors.  Generally, our management will analyze all available factors and make a determination based upon a composite of available facts, without relying on any single factor.   Methods of Participation of Acquisition  Management will review specific businesses and then select the most suitable opportunities based on legal structure or method of participation.  Such structures and methods may include, but are not limited to, leases, purchase and sale agreements, licenses, joint ventures, other contractual arrangements, and may involve a reorganization, merger or consolidation transaction.  Management may act directly or indirectly through an interest in a partnership, corporation, or other form of organization.  Procedures  As part of the our investigation of business opportunities, officers and directors may meet personally with management and key personnel of the firm sponsoring the business opportunity.  We may visit and inspect material facilities, obtain independent analysis or verification of certain information provided, check references of management and key personnel, and conduct other reasonable measures.   12    We will generally ask to be provided with written materials regarding the business opportunity.  These materials may include the following:  · descriptions of product, service and company history; management resumes;  · financial information;  · available projections with related assumptions upon which they are based;  · an explanation of proprietary products and services;  · evidence of existing patents, trademarks or service marks or rights thereto;  · present and proposed forms of compensation to management;  · a description of transactions between the prospective entity and its affiliates;  · relevant analysis of risks and competitive conditions;  · a financial plan of operation and estimated capital requirements;  · and other information deemed relevant.  Competition  We expect to encounter substantial competition in our efforts to acquire a business opportunity.  The primary competition is from other companies organized and funded for similar purposes, small venture capital partnerships and corporations, small business investment companies and wealthy individuals.  Employees  We do not currently have any employees but rely upon the efforts of our officers and directors to conduct our business. We do not have any employment or compensation agreements in place with our officers and directors although they are reimbursed for expenditures advanced on our behalf.  Description of Property.  We do not currently own any property.  We utilize office space in the residence of our President Neil Christiansen at no cost.  We will not seek independent office space until we pursue a viable business opportunity and recognize income.  Three and Six Month Periods Ended June 30, 2006 and 2005  Our revenues since inception total $3,560 and we have a cumulative net loss of $132,791 from inception through June 30, 2006.  Our revenues for the three months ending June 30, 2006 were $0 compared to $600 for the same period in 2005. For the three months ending June 30, 2006 net loss was $6,477 compared to $499 for the same period in 2005.  Expenses during the three months ended June 30, 2006, consisted of $5,256 in general and administrative expense and $0 in depreciation and amortization.  Expenses during the comparable period in 2005 consisted of $0 in depreciation and amortization and $999 in general and administrative expenses.  Interest on notes payable and shareholder advances totaled $1,221 for the three months ended June 30, 2006.   13    For the six months ending June 30, 2006 revenue totaled $0 compared to $600 for the same period in 2005. For the six months ending June 30, 2006 net loss was $10,431 compared to $1,390 for the same period in 2005.  Expenses during the six months ended June 30, 2006, consisted of $8,941 in general and administrative expense and $0 in depreciation and amortization.  Expenses during the comparable period in 2005 consisted of $0 in depreciation and amortization and $5,939 in general and administrative expenses.  Interest on notes payable and shareholder advances totaled $1,490 for the six months ended June 30, 2006  As of June 30, 2006 our total assets were $1,051 consisting of cash.  Total liabilities at June 30, 2006 were $68,361 consisting of $7,082 in accounts payable, $1,279 in accrued interest, and shareholder advances of $55,000.  Liquidity and Capital Resources  At June 30, 2006 we had $1,051 cash and have had total revenues since inception of $3,560.  We estimate that general and administrative expenses for the next twelve months will be approximately $10,000 to $12,000.  At June 30, 2006 we also had total liabilities of $68,361.  As a result, we will need to generate up to $80,000 to pay our debts and meet our ongoing financial needs.  Since inception we have primarily financed our operations through the sale of common stock.  In order to raise the necessary capital to continue operations, we may sell additional stock, arrange debt financing or seek advances from our officers or shareholders.  We do not have any commitments for financing.  Item 3.  Controls and Procedures  (a) Evaluation of Disclosure Controls and Procedures.  The Company's management, with the participation of the chief executive officer/chief financial officer, carried out an evaluation of the effectiveness of the Company's "disclosure, controls and procedures" (as defined in the Securities Exchange Act of 1934 (the "Exchange Act") Rules 13a-15(e) and 15-d-15(e) as of the end of the period covered by this quarterly report (the "Evaluation Date").  Based upon that evaluation, the chief executive officer/chief financial officer concluded that, as of the Evaluation Date, the Company's disclosure, controls and procedures are effective, providing material information relating to the Company as required to be disclosed in the reports the Company files or submits under the Exchange Act on a timely basis.  (b) Changes in Internal Control over Financial Reporting.  There were no changes in the Company's internal controls over financial reporting, known to the chief executive officer or the chief financial officer, that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.     PART II.  OTHER INFORMATION  Item 2.  Changes in Securities.  On June 28, 2006, we issued 1,000,000 common shares pursuant to the terms of a Convertible Promissory Note dated February 15, 2005 for principal and accrued interest totaling $5,563.  The shares were issued in reliance of the exemption provided by Section 4(2) of the Securities Act of 1933. No underwriters were involved in the issuance, no public solicitations were made by the Company and no commissions were paid.  Item 6.  Exhibits and Reports on Form 8-K.  Freedom Resources filed form 8-K on July 10, 2006 reporting Item 3.02, Sales of Unregistered Securities.  Exhibits:  Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-B.   14     Exhibit No.SEC Ref. No.Title of Document131.1Certification of the Principal Executive Officer/ PrincipalFinancial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002Attached232.1Certification of Chief Executive Officer and Chief FinancialOfficer pursuant to section 906 of the Sarbanes-Oxley Actof 2002*Attached  * The Exhibit attached to this Form 10-QSB shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to liability under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.  SIGNATURES  In accordance with the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned thereunto duly authorized.    FREEDOM RESOURCES ENTERPRISES, INC.     Date: August 11, 2006 /s/ Neil Christiansen Neil Christiansen Chief Executive Officer Chief Financial Officer    15