UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-Q  (Mark One)  SQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the quarterly period ended September 30, 2008. or  £TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the transition period from _______________________ to ___________________________  Commission File Number:  000-32735  FREEDOM RESOURCES ENTERPRISES, INC. (Exact name of registrant as specified in its charter)  Nevada87-0567033(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)901 East 7800 South, Midvale, Utah84047(Address of principal executive offices)(Zip Code)  (801) 566-5931 (Registrants telephone number, including area code)   Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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.   S  Yes    £   No  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act.  Large accelerated filer£Accelerated filer£Non-accelerated filer£(Do not check if a smaller reporting company)Smaller reporting companyS  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   S   Yes  £   No  As of October 3, 2008, the Registrant had outstanding 2,800,000 shares of Common Stock.   FREEDOM RESOURCES ENTERPRISES, INC. FORM 10-Q September 30, 2008  INDEX PagePART I.Financial Information3Item 1.  Unaudited Condensed Financial Statements

Unaudited Condensed Balance Sheets  September 30, 2008 and December 31, 2007

Unaudited Condensed Statements of Operations for the three and nine months ended September 30, 2008 and 2007, and from inception on November 6, 1996 through September 30, 2008

Unaudited Condensed Statements of Cash Flows for the nine months ended September 30, 2008 and 2007, and from inception on November 6, 1996 through September 30, 2008

Notes to Unaudited Condensed Financial Statements

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

Item 3.  Quantitative and Qualitative Disclosure About Market Risk

Item 4T.  Controls and procedures4

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12PART II.Other Information

Item 6.  Exhibits.13

13Signatures13  2   PART I. Financial Information  Item 1.  Financial Statements           FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  UNAUDITED CONDENSED FINANCIAL STATEMENTS  SEPTEMBER 30, 2008            3   FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]     CONTENTS  PAGE   — Unaudited Condensed Balance Sheets, September 30, 2008 and December 31, 2007 5   — Unaudited Condensed Statements of Operations, for the three and nine months ended September 30, 2008 and 2007 and from inception on November 6, 1996 through September 30, 2008 6   — Unaudited Condensed Statements of Cash Flows, for the nine months ended September 30, 2008 and 2007 and from inception on November 6, 1996 through September 30, 2008 7    Notes to Unaudited Condensed Financial Statements 9 - 10       4   FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  UNAUDITED CONDENSED BALANCE SHEETS  ASSETS September 30,December 31,20082007CURRENT ASSETS:Cash$1,028$774Prepaid expense-1,416Total Current Assets1,0282,190PROPERTY AND EQUIPMENT, net--OTHER ASSETS:Manuscripts and transcripts, net--Total Assets$1,028$2,190LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)CURRENT LIABILITIES:Accounts payable$5,000$5,215Accrued taxes-100Accrued interest  related party839539Advances from a shareholder102,50072,500Current portion convertible notes5,0005,000Total Current Liabilities113,33983,354STOCKHOLDERS' EQUITY (DEFICIT):Preferred stock, $.001 par value,5,000,000 shares authorized,no shares issued and outstanding--Common stock, $.001 par value,100,000,000 shares authorized,2,800,000 shares issued and outstanding2,8002,800Capital in excess of par value81,93877,112Deficit accumulated during thedevelopment stage(197,049)(161,076)Total Stockholders' Equity (Deficit)(112,311)(81,164)$1,028$2,190  Note: The balance sheet at December 31, 2007 was taken from the audited financial statements at that date and condensed.  The accompanying notes are an integral part of these unaudited condensed financial statements.  5   FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS  For the Three
Months Ended
September 30,For the Nine
Months Ended
September 30,From
Inception
On November
6, 1996 Through
September 30,20082007200820072008REVENUE$-$-$-$-$3,560EXPENSES:Depreciation and amortization----4,174General and administrative11,6801,95530,84710,015148,741Research and development----15,674Impairment of long-lived assets----21,285Total Expenses11,6801,95530,84710,015189,874LOSS BEFORE OTHER INCOME(EXPENSE)(11,680)(1,955)(30,847)(10,015)(186,314)OTHER INCOME (EXPENSE):Interest income----1,216Interest expense  related party(1,934)(1,511)(5,126)(4,412)(15,827)Gain on settlement of debt----4,097Total Other Income (Expense)(1,934)(1,511)(5,126)(4,412)(10,514)LOSS BEFORE INCOME TAXES(13,614)(3,466)(35,973)(14,427)(196,828)CURRENT TAX EXPENSE-----DEFERRED TAX EXPENSE-----LOSS FROM CONTINUINGOPERATIONS(13,614)(3,466)(35,973)(14,427)(196,828)CUMULATIVE EFFECT OFCHANGE IN ACCOUNTING
PRINCIPLE----(221)NET LOSS$(13,614)$(3,466)$(35,973)$(14,427)$(197,049)BASIC AND DILUTEDLOSS PER COMMON SHARE$(.00)$(.00)$(.01)$(.00)WEIGHTED AVERAGECOMMON SHARES2,800,0002,600,0002,800,0002,600,000  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 CASH FLOWS  From InceptionFor the Nineon November 6,Months Ended1996 ThroughSeptember 30,September 30,200820072008Cash Flows from Operating Activities:Net loss$(35,973)$(14,427)$(197,049)Adjustments to reconcile net loss to net cash provided(used) 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)Non-cash expenses4,8263,81214,820Changes in assets and liabilities:Increase (decrease) in accounts payable(215)1,9129,097Increase (decrease) in accrued taxes(100)(100)-Increase in accrued interest  related party3006001,007Decrease in prepaid expense1,416--Net Cash Provided (Used) by Operating Activities(29,746)(8,203)(150,542)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--20,000Advances from a shareholder30,00010,000102,500Net Cash Provided by Financing Activities30,00010,000177,250Net Increase (Decrease) in Cash2541,7971,028Cash at Beginning of Period7743,805-Cash at End of Period$1,028$5,602$1,028  The accompanying notes are an integral part of these unaudited condensed financial statements.   7   FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS [Continued]   Supplemental Disclosures of Cash Flow Information:  Cash paid during the period for:Interest$-$-$-Income taxes$-$-$-  Supplemental Schedule of Non-cash Investing and Financing Activities:  For the nine months ended September 30, 2008:  The Company imputed interest on advances, which totaled $4,826.  The amount was contributed to capital by a related party.  For the nine months ended September 30, 2007:  The Company imputed interest on advances, which totaled $3,812.  The amount was contributed to capital by a related party.      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, at September 30, 2008 and the results of operations and cash flows at September 30, 2008 and 2007 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, 2007 audited financial statements.  The results of operations for the periods ended September 30, 2008 and 2007 are not necessarily indicative of the operating results for the full year.  NOTE 2 - CONVERTIBLE NOTE PAYABLE  RELATED PARTY  In August 2006, 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 February 2009, and is convertible with accrued interest into 200,000 shares of common stock.  At September 30, 2008, accrued interest amounted to $839.  9   FREEDOM RESOURCES ENTERPRISES, INC. [A Development Stage Company]  NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS  NOTE 3 - CAPITAL STOCK  Preferred Stock - The Company has authorized 5,000,000 shares of preferred stock, $.001 par value with such rights, preferences and designations and to be issued in such series as determined by the Board of Directors.  No shares are issued and outstanding at September 30, 2008.  Common Stock  The Company has authorized 100,000,000 shares of Common Stock, $.001 par value, with such rights, preferences and designations and to be issued in such series as determined by the Board of Directors.   At September 30, 2008 there were 2,800,000 shares issued and outstanding.  NOTE 4 - RELATED PARTY TRANSACTIONS  Advance from a Shareholder  During 2007 and 2006, and in June and September 2008, shareholders of the Company advanced $102,500 to the Company.  At September 30, 2008 and December 31, 2007 the Company owed $102,500 and $72,500, respectively, to the shareholders. The advances bear no interest and are due on demand; however, the Company is imputing interest at 8% per annum.  During the nine month periods ended September 30, 2008 and 2007, respectively, the Company imputed interest expense of $4,826 and $3,812. The imputed interest has been contributed to Capital in Excess of Par.  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.  10   Item 2.  Managements Discussion and Analysis of Financial Condition or Plan of Operation  Forward-Looking Statement Notice  This Form 10-Q contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Any statements contained in this Form 10-Q 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.  Plan of Operations  We had no operations or revenue during the nine months ended September 30, 2008.  Due to this, we realized a net loss. We do not expect to generate any meaningful revenue or incur operating expenses, except for administrative, legal, professional, accounting and auditing costs associated with the filing requirements of a public reporting company, unless and until we acquire an interest in an operating company.  We are a shell company and are seeking potential business acquisitions or opportunities to enter into in an effort to recommence business operations.  We have been engaged in preliminary discussions with, and have commenced preliminary due diligence on, a potential target company.  We have retained counsel to assist management in the acquisition process and have prepared a draft letter of intent in connection with these preliminary discussions.  However, the draft letter of intent has not been executed by either party and there are currently no agreements with respect to any acquisition, nor can any assurance be given that we will ever consummate any such transaction.  We do not have sufficient cash to meet our operational needs for the next twelve months.  Managements plan of operation for the next twelve months is to attempt to raise additional capital through loans from related parties, debt financing, equity financing or a combination of financing options.  Currently, there are no understandings, commitments or agreements for such an infusion of capital and no assurances to that effect.  Unless we can obtain additional financing, our ability to continue as a going concern during the next twelve-month period is doubtful.  Our need for capital may change dramatically if and during that period we acquire an interest in a business opportunity.  Our current operating plan is to (i) handle the administrative and reporting requirements of a public company, and (ii) search for potential businesses, products, technologies and companies for acquisition.  At present, we have no binding understandings, commitments or agreements with respect to the acquisition of any business venture, and there can be no assurance that we will identify a business venture suitable for acquisition in the future.  Further, there can be no assurance that we would be successful in consummating any acquisition on favorable terms or that we will be able to profitably manage any business venture we acquire.  The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of our company as a going concern.  However, we have incurred losses since our inception, and have no on-going operations.  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 through loans and/or through additional sales of our Common Stock.  There is no assurance that we 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.  11   Nine Month Periods Ended September 30, 2008 and 2007  Our revenues since inception total $3,560 and we have a cumulative net loss of $197,049 from inception through September 30, 2008.  Our revenues for the nine months ending September 30, 2008 were $0 compared to $0 for the same period in 2007. For the nine months ending September 30, 2008, net loss was $35,973 compared to $14,427 for the same period in 2007.  Expenses during the nine months ended September 30, 2008, consisted of $30,847 in general and administrative expense and $0 in depreciation and amortization.  Expenses during the comparable period in 2007 consisted of $0 in depreciation and amortization and $10,015 in general and administrative expenses.  We have one $5,000 convertible promissory note issued to our President.  Accrued interest on the note totaled $839 and $439 for the nine months ended September 30, 2008 and 2007, respectively.  As of September 30, 2008, our total assets were $1,028 consisting of cash.  Total liabilities at September 30, 2008, were $113,339 consisting of $5,000 in accounts payable, $839 in accrued interest to related parties, convertible notes payable to a shareholder of $5,000, and shareholder advances of $102,500.  The shareholder advances bear no interest and are due on demand; however, the Company is imputing interest at 8% per annum.  During the nine months ended September 30, 2008 and 2007, respectively, the Company imputed interest expense of $4,826 and $3,812.  Liquidity and Capital Resources  At September 30, 2008, we had $1,028 in cash and had total revenues since inception of $3,560. We estimate that general and administrative expenses for the next twelve months will be approximately $16,000.  At September 30, 2008, we also had total liabilities of $113,339.  As a result, we will need to generate up to $130,000 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 maintain our reporting company status, we may sell additional stock, arrange debt financing or seek advances from our officers or shareholders.  We do not have any commitments for financing.  Off-Balance Sheet Arrangements  During the quarter ended September 30, 2008, we did not have any off-balance sheet arrangements.  Item 3. Quantitative and Qualitative Disclosures About Market Risk.  As a smaller reporting company we have elected not to provide the information required by this item.  Item 4T. Controls and Procedures.  Evaluation of Disclosure Controls and Procedures.  Our sole officer, Neil Christiansen, has concluded, based on his evaluation as of the end of the period covered by this report, that our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) are (1) effective to ensure that material information required to be disclosed by us in reports filed or submitted by us under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the  rules and forms of the Securities and Exchange Commission, and (2) designed to ensure that material information required to be disclosed by us in such reports is accumulated, organized and communicated to the management, including the principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.  Changes in Internal Control Over Financial Reporting. There were no changes in our internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.  12   PART II  OTHER INFORMATION  Item 6. Exhibits  Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-K.  SEC Ref. No.Title of DocumentLocation31Certification of the Principal Executive Officer/ PrincipalAttachedFinancial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 200232Certification of Chief Executive Officer and Principal FinancialAttachedOfficer pursuant to section 906 of the Sarbanes-Oxley Actof 2002     SIGNATURES  Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amended report to be signed on its behalf by the undersigned thereunto duly authorized.  FREEDOM RESOURCES ENTERPRISES, INC.     Date: October 28, 2008 By /s/ Neil Christiansen Neil Christiansen, President (Chief Executive Officer and Principal Financial Officer)  13