UNITED
        STATES
 SECURITIES
        AND EXCHANGE COMMISSION
 Washington,
        D.C. 20549
 
 FORM
        10-QSB
 
 (Mark
        One)
 [XX]  QUARTERLY REPORT UNDER SECTION13 OR15(d) OF THE SECURITIES EXCHANGE ACT
        OF
        1934
 
 For
        the
        quarterly period ended **September
        30, 2006**
 
 []
        TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
  For
        the
        transition period from _______ to _______
 
 
 Commission
        file number 0-25024
  **TITAN
        TECHNOLOGIES, INC.**
 (Exact
        name of small business issuer as specified in its charter)
  **NEW
                  MEXICO**
              **85-0206831**(State
                  or other jurisdiction
              (IRS
                  Employerof
                  incorporation or organization)
              Identification
                  No.)
  **3206
        Candelaria Road NE, Albuquerque, NM 87107**
 (Address
        of principal executive offices)
 
 **(505)
        884-0272**
 (Issuer's
        telephone number)
 
 N/A
 (Former
        name, former address, and former three-months,
 if
        changed since last report)
 
 Check
        whether the issuer (1) filed all reports required to be filed by section
        13 of
        15(d) of the Exchange Act during the past 12 months (or for such shorter
        period
        that the registrant was required to file such reports), and (2) has been
        subject
        to such filing requirements for the past 90 days. Yes [X] No []
 
 Indicate
        by check mark whether the registrant is a shell company (as defined in Rule
        12b-2 of the Exchange Act) Yes [] No [X]
 
 APPLICABLE
        ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
 PROCEEDINGS
        DURING THE PRECEDING FIVE YEARS
 
 Check
        whether the registrant filed all documents and reports required to be filed
        by
        Section 12,13, or 15 (d) of the Exchange Act after distribution of securities
        under a plan confirmed by a court Yes No
 
 APPLICABLE
        ONLY TO CORPORATE ISSUERS
 
 State
        the
        number of shares outstanding of each of the issuer's classes of common equity,
        as of the latest practicable date: No par common 45,026,006
 
 Transitional
        Small Business Format (Check One): Yes [] No [X]
 
   -
            1
            -
 **PART
          I. FINANCIAL INFORMATION**
 **Item
          1. Financial Statements.**
  Titan
            Technologies, Inc.
 BALANCE
          SHEET
 October
          31, 2006
 (UNAUDITED)
  ASSETSCurrent
                    AssetsCash
                
                $
                89,734Property
                    and Equipment, at costFurniture
                    and fixtures
                
                
                3,077Machinery
                
                
                7,70610,783Less
                    accumulated depreciation
                
                
                (10,649
                )Net
                    property and equipment
                
                
                134Other
                    AssetsDeposits
                
                
                25,000Other
                
                
                60925,609$
                115,477LIABILITIES
                    AND STOCKHOLDERS' (DEFICIT)Current
                    LiabilitiesAccounts
                    payable
                
                $
                5,967Other
                    accrued liabilities
                
                
                443Deferred
                    revenue
                
                
                420,000Total
                    Current Liabilities
                
                
                426,410Stockholders'
                    (Deficit)Common
                    stock - no par value; authorized, 50,000,000 shares;45,026,006
                    shares issued and outstanding
                
                
                3,797,241Treasury
                    stock, 17,000 shares, at cost
                
                
                -Accumulated
                    (deficit)
                
                
                (4,108,174
                )(310,933
                )$
                115,477
 See
            the
            accompanying notes to the financial statements.
 -
              2
              -
   Titan
          Technologies, Inc.
 STATEMENTS
          OF OPERATIONS
 For
          The
          Three Months Ended October 31, 2006
 (UNAUDITED)
  2006
                
                2005REVENUES
                
                $
                -
                
                $
                -.COSTS
                    AND EXPENSESGeneral
                    and administrative
                
                
                53,662
                
                
                71,677Outside
                    services
                
                
                6,145
                
                
                15,935Stock
                    compensation
                
                
                24,309
                
                
                -Depreciation
                
                
                26
                
                
                2584,142
                
                
                87,637(Loss)
                    from operations
                
                
                (84,142
                )
                
                (87,637
                )Provision
                    for income taxes
                
                
                -
                
                
                -Net
                    (loss)
                
                $
                (84,142
                )
                $
                (87,637
                )Weighted
                    average common shares outstanding -Basic
                    and diluted
                
                
                44,848,576
                
                
                44,061,207Basic
                    and diluted (loss) per common share
                
                $
                (0.00
                )
                $
                (0.00
                )
 See
          the
          accompanying notes to the financial statements.
   -
            3
            -
  Titan
          Technologies, Inc.
 STATEMENTS
          OF CASH FLOWS
 For
          The
          Three Months Ended October 31, 2006
 (UNAUDITED)
  2006
                
                2005Cash
                    flows from operating activitiesNet
                    cash provided by operating activities
                
                $
                26,832
                
                $
                18,710Cash
                    flows from Investing activities
                
                
                -
                
                
                -Cash
                    flows from financing activitiesProceeds
                    from sale of common stock
                
                
                28,000
                
                
                13,600Net
                    cash provided by financing activities
                
                
                28,000
                
                
                13,600Net
                    increase in cash
                
                
                54,832
                
                
                32,310Cash
                    at beginning of period
                
                
                34,902
                
                
                56,170Cash
                    at end of period
                
                $
                89,734
                
                $
                88,480
 See
          the
          accompanying notes to the financial statements.
   -
            4
            -
   Titan
        Technologies, Inc **.**
 Notes
        to
        Financial Statements
 October
        31, 2006
 (Unaudited)
 
 
 
 Note
        1.
        Basis of Presentation
 
 The
        accompanying unaudited financial statements have been prepared in accordance
        with accounting principles generally accepted in the United States of America
        for interim financial information. They do not include all of the information
        and footnotes required by accounting principles generally accepted in the
        United
        States of America for complete financial statements. In the opinion of
        management, all adjustments, consisting only of normal recurring adjustments,
        considered necessary for a fair presentation, have been included in the
        accompanying unaudited financial statements. Operating results for the periods
        presented are not necessarily indicative of the results that may be expected
        for
        the full year. For further information, refer to the financial statements
        and
        notes thereto, included in the Company's Form 10-KSB as of and for the year
        ended July 31, 2006.
 
 
 Note
        2.
        Earnings Per Share
 
 The
        Company calculates net income (loss) per share as required by Statement of
        Financial Accounting Standards ("SFAS") 128, "Earnings per Share." Basic
        earnings (loss) per share is calculated by dividing net income (loss) by
        the
        weighted average number of common shares outstanding for the period. Diluted
        earnings (loss) per share is calculated by dividing net income (loss) by
        the
        weighted average number of common shares and dilutive common stock equivalents
        outstanding. During the periods presented, common stock equivalents were
        not
        considered, as their effect would be anti-dilutive.
 
 
 Note
        3.
        Going Concern
 
 The
        Company's financial statements are presented on a going concern basis, which
        contemplates the realization of assets and satisfaction of liabilities in
        the
        normal course of business.
 
 The
        Company has experienced losses from operations as a result of its investment
        necessary to achieve its operating plan, which is long-range in nature. For
        the
        three months ended October 31, 2006 the Company incurred a net loss of $84,142
        and had working capital and stockholders' deficits of $336,676 and $310,933,
        respectively, at October 31, 2006. In addition, the Company has no revenue
        producing operations.
  -
            5
            -
  Titan
        Technologies, Inc **.**
 Notes
        to
        Financial Statements
 October
        31, 2006
 (Unaudited)
 
 The
        Company's ability to continue as a going concern is contingent upon its ability
        to secure financing and attain profitable operations. In addition, the Company's
        ability to continue as a going concern must be considered in light of the
        problems, expenses and complications frequently encountered in a highly
        regulated industry.
 
 The
        financial statements do not include any adjustments to reflect the possible
        future effects on the recoverability and classification of assets or the
        amounts
        and classification of liabilities that may result from the possible inability
        of
        the Company to continue as a going concern.
  
 Note
        4.
        Stockholders' (Deficit)
 
 During
        the three months ended October 31, 2006 the Company sold 186,666 shares of
        common stock for cash proceeds aggregating $28,000, and also issued 90,802
        shares of common stock for services valued at $24,309, the fair market value
        of
        the shares on the date of issue, resulting in non-cash stock compensation
        of
        $24,309. Effective October 30, 2004, the Company granted options to purchase
        1,350,000 shares of its common stock to employees at an exercise price of
        $0.12
        per share, the fair market value of the stock at the date of the grant. The
        options are exercisable over a ten year period commencing on the grant date
        and
        continuing through October 2014.
 
 The
        effect of applying SFAS No. 123 pro forma net (loss) is not necessarily
        representative of the effects on reported net income (loss) for future years
        due
        to, among other things, the vesting period of the stock options and the fair
        value of additional stock options in future years. The fair value of the
        options
        granted is estimated at $.07 per option on the date of grant using the
        Black-Scholes option pricing model with the following assumptions: no dividend
        yield, volatility of 69%, a risk-free interest rate of 3%, and expected lives
        of
        five years from date of vesting.
 
 For
        purposes of pro forma disclosure, the estimated fair value of the options
        is
        charged to expense in the period that the options were granted. The Company's
        pro forma information is as follows for the three months ended October 31,
        2006
        and 2005:
 
  2006
              
              2005Pro
                  forma net (loss)
              
              $
              (84,142
              )
              $
              (87,637
              )Pro
                  forma (loss) per share -Basic
                  and diluted
              
              $
              (.00
              )
              $
              (.00
              )
 
  -
            6
            -
   Titan
        Technologies, Inc.
 Notes
        to
        Financial Statements
 October
        31, 2006
 (Unaudited)
 
 Note
        5.
        Licensing Agreements
 
 On
        April
        2, 2004 and as modified on October 30, 2004, the Company entered into an
        Agreement with a group of investors, to provide for the construction of three
        tire recycling plants to be built in Mexico. During the year ended July 31,
        2005, the Company received a non-refundable cash deposit of $180,000, which
        was
        originally recorded as deferred revenue. Under the terms of the agreement,
        the
        Company was to receive a payment of $500,000. $300,000 was to be credited
        to the
        licensing fee ($100,000 for each of the three initial recycling plants),
        and the
        remaining $200,000 for an exclusive right to license the Titan technology
        in the
        Republic of Mexico. The original Agreement was extended from September 30,
        2004
        to March 31, 2005, whereupon it was terminated effective March 31, 2005,
        due to
        non-performance by the licensee. As more fully discussed below, the $180,000
        previously paid to Titan under this agreement was recognized as revenue,
        and
        credit has been given to the successor investor, PPT Holdings, Ltd. (“PPT”), in
        this amount.
 
 Effective
        February 9, 2006, the Registrant executed a License Agreement with PPT, a
        Texas
        Limited Partnership and successor to the investor group discussed above,
        for the
        exclusive right to build recycling facilities in the Republic of Mexico,
        utilizing Titan’s patented tire recycling technology (the “Mexican License”).
        The Agreement provides for the initial construction of three facilities within
        three years, commencing initially on or about September 15, 2006, which date
        has
        been verbally extended to the date on which PPT has obtained the necessary
        building permit for the first plant in Nuevo Laredo, and has secured sufficient
        financing to commence construction of the plant. PPT has engaged engineers
        and
        architects to start the process of obtaining the building permit. The Agreement
        also calls for a $200,000 payment for the exclusive right to conduct business
        in
        the Republic of Mexico.
 
 The
        Mexican License provides for a $1,000,000 license fee for each plant, payable
        as
        follows: (i) a deposit of $100,000 paid by April 30, 2006; (ii) $300,000
        payable
        upon commencement of construction; (iii) $300,000 upon completion of
        construction; and (iv) $300,000 upon reaching full capacity. During the year
        ended July 31, 2006, PPT Holding, Ltd. and its predecessor paid Titan $320,000,
        and PPT has received credit for the $180,000 previously paid by its predecessor.
        Therefore, the total initial $500,000 requirement, including the $300,000
        deposit for the first three plants as well as $200,000 for the exclusive
        license
        for the Republic of Mexico, has been satisfied. Since construction has not
        yet
        commenced, the entire $320,000 is presented as deferred revenue at July 31,
        and
        October 31, 2006.
 
  -
            7
            -
  Titan
        Technologies, Inc.
 Notes
        to
        Financial Statements
 October
        31, 2006
 (Unaudited)
 
 
 In
        addition, the Mexican License further provides that Licensees will pay Titan
        royalty payments equal to $4.00 per ton of tires processed in the recycling
        plants in Mexico after full capacity is reached Failure by PPT to make the
        required payments or commence construction of the first three plants by the
        designated dates, could result in Titan terminating the License Agreement
        and
        loss of the exclusive license for Mexico and all monies paid to date by PPT
        and
        its predecessor.
 Additionally,
          Titan has agreed to purchase a five percent (5%) ownership interest in
          PPT for
          $75,000, of which $25,000 was paid during the current fiscal year and $50,000
          was paid in prior years, pursuant to previous agreements that were subsequently
          deemed void. Titan has been given credit for the previous payments towards
          the
          purchase price of its investment in PPT.  Since PPT is still in the
          organizational stages, the final $25,000 paid in fiscal 2006 is presented
          as a
          deposit at July 31, 2006.
 
 Effective
        August 23, 2006, the Company entered into another licensing agreement with
        an
        unrelated investor group, Ally Investment , LLP (“Ally”), for the use of its
        recycling patent and technology within the states of Texas, Louisiana,
        Mississippi and Oklahoma, and received a non-refundable deposit in the amount
        of
        $100,000, which amount is included in deferred revenue at October 31, 2006.
        The
        licensing fee and royalties for each plant are payable as $1,600,000 upon
        securing both a construction site and construction financing, and production
        royalties of 1.5% of gross revenues derived from the sale of all products
        generated from the Titan technology, upon reaching full capacity.
 
 The
        license will commence upon payment of the $1,600,000. The commencement of
        construction of the first plant must occur on or before March 1, 2007, and
        it
        must be completed and in operation no later than March 31, 2008. Failure
        by Ally
        to make the required payment and meet the construction commencement and
        completion deadlines may result in the termination of the license agreement
        and
        resulting loss of all monies paid by Ally to Titan, unless otherwise extended
        by
        mutual written agreement.
 
 
 
  -
            8
            -
  Titan
        Technologies, Inc.
 Notes
        to
        Financial Statements
 October
        31, 2006
 (Unaudited)
 
 
 **ITEM
        2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
        OPERATION**
 
 Results
        of Operations
 
 As
        a
        result of activities by management, general and administrative expenses
        decreased $18,015 to $53,662 for the three months ended October 31, 2006
        compared to the three months ended October 31, 2005, primarily due to the
        decrease in legal and accounting.
 
 As
        a
        result of activities of management, outside services expenses decreased $9,790
        to $6,145 for the three months ended October 31, 2006 compared to the three
        months ended October 31, 2005.
 
 During
        the three months ended October 31, 2006, the Company issued 90,802 shares
        of its
        common stock for services valued at $24,309, the fair market value of the
        shares
        on the date of issue, resulting in non-cash stock compensation in the amount
        of
        $24,309.
 
 Financial
        Condition
 
 During
        the quarter ended October 31, 2006 the Company received a non-refundable
        deposit
        of $100,000 for use of its recycling patent and technology within the states
        of
        Texas, Louisiana, Mississippi and Oklahoma.
 
 The
        Company's liquidity increased in the three months ended October 31, 2006
        as cash
        increased $54,832 since July 31, 2006. Operations used $26,832 compared to
        the
        same period of the prior year in which operations used $18,710. Proceeds
        from
        the sale of common stock were $28,000 during the three months ended October
        31,
        2006 compared to $13,600 for the same period on 2005.
 
 Future
        financing activities of the Company include primarily the sale of common
        stock.
        The Company does not solicit purchasers of its common stock but believes
        past
        experience demonstrates that there will be sufficient unsolicited purchases
        of
        common stock to sustain the Company's cash flow needs, especially in light
        of
        the expected revenue form licensing activities in the future.
 
 Management
        has taken the following steps in the past and will consider taking them again,
        if necessary, to address the financial and operating condition of the Company
        which it believes will be sufficient to provide the Company with the ability
        to
        continue in existence:
  -
            9
            -
  Titan
        Technologies, Inc.
 Notes
        to
        Financial Statements
 October
        31, 2006
 (Unaudited)
 
 
 Management
        believes that these steps, if taken, will allow the Registrant to continue
        as a
        going concern together with results of on going efforts to raised working
        capital through licensing agreements, and joint ventures. However, there
        are
        significant risks associated with the Registrant's business development and
        there can be no assurance that its efforts will be successful or that it
        will be
        able to raise sufficient working capital to survive as a going concern.
 
 ITEM
        3.
        CONTROLS AND PROCEDURES
 
 (a)
        Evaluation of Disclosure Controls and Procedures.
 
 The
        company maintains controls and procedures designed to endure that information
        required to be disclosed in this report is recorded, processed, accumulated
        and
        reported to management, including the principal executive and financial officer
        to allow timely decisions regarding the required disclosure.
 
 As
        of the
        end of the period covered by this report, Company's management, with the
        participation of its principal executive and financial officer, performed
        an
        evaluation of the effectiveness of the design and operation of these disclosures
        controls and procedures. The principal executive and financial officer has
        concluded that such disclosure controls and procedures are effective in ensuring
        that required information is disclosed in the Company's reports.
 
 (b)
        Changes in Internal Controls.
 
 There
        were no significant changes in the Company's internal controls or in other
        factors that could significantly affect these controls subsequent to the
        evaluation date.
 
 **PART
        II. OTHER INFORMATION**
 
 Item
        1.
        Legal Proceedings
 
 None
 
 Item
        2.
        Changes in Securities
 
 During
        the three months ended October 31, 2006 the Company sold common stock to
        four
        investors, who each qualify as an accredited investor within the meaning
        of Rule
        501 (a). The following table illustrates the dates of the transactions, the
        number of shares and the proceeds of the sale.
  -
            10
            -
  Titan
        Technologies, Inc.
 Notes
        to
        Financial Statements
 October
        31, 2006
 (Unaudited)
 
 
 
 Date
              
              Shares
                  Issued
              
              Cash
                  Received9/1/06
              
              
              33,333
              
              $
              5,0009/6/06
              
              
              33,333
              
              
              5,0009/18/06
              
              
              20,000
              
              
              3,00010/18/06
              
              
              100,000
              
              
              15,000186,666
              
              $
              28,000
 
 We
        relied
        on Section 4(2) of the Securities Act of 1933 for exemption from the
        registration requirements of the Securities Act. Each investor was furnished
        with information concerning our formation and operations, and had the
        opportunity to verify the information supplied and ask questions of Management.
        Additionally, we obtained a representation from each of the acquiring persons
        representing their intent to acquire the securities for the purpose of
        investment only, and not with a view toward the subsequent distribution thereof.
        Each of the certificates representing the common stock carry a legend
        restricting transfer of the securities represented.
 
 **Item
        3. Defaults in Senior Securities**
 
 None
 
 **Item
        4. Submission of Matters to a Vote of Security Holders**
 
 None
 
 **Item
        5. Other Information**
 
 None
 
 **Item
        6. Exhibits and Reports on Form 8-K**
 
 (a)  Exhibits:
        The following exhibits are filed with this report:
 
 31.1
        Certification pursuant to Rule 13(a) of 15d-14(a) under the
 Securities
        Exchange Act of 1934 as amended.
 
 32  Certification
        pursuant to 18 U.S.C. Section 1350, as adopted
 pursuant
        to Section 906 of the Sarbanes Oxley Act of 2002.
  -
            11
            -
  Titan
        Technologies, Inc.
 Notes
        to
        Financial Statements
 October
        31, 2006
 (Unaudited)
 
 
 (b)  Reports
        on Form 8-K. State whether any reports on Form 8-K have been filed
        during the quarter for which this report is filed, listing the items reported,
        any financial statements files, and the dates of any such reports **.**
  None
  
 -
            12
            -
   **SIGNATURES**
 
 In
        accordance with the requirements of the Exchange Act, the Registrant has
        caused
        this report to be signed on its behalf by the undersigned, thereunto duly
        authorized.
 
 TITAN
        TECHNOLOGIES, INC.
 
 Date
        December 21, 2006 /s/ Ronald L.
        Wilder, President
 Ronald
        L. Wilder, President, Chief Executive Officer, Chief
 Financial
        Officer and Chief Accounting Officer.
 
  -
            13
            -