----

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**UNITED        STATES**

**SECURITIES        AND EXCHANGE COMMISSION**

**Washington,        D.C. 20549**

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**FORM        10-QSB**

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| **[                  X ]** | **QUARTERLY                  REPORT UNDER SECTION 13 0R 15(d) OF THE SECURITIES EXCHANGE ACT                  OF 1934:                  FOR THE QUARTERLY PERIOD ENDED JUNE 30,                  2007** |
|----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**OR**

| **[                     ]** | **TRANSITION                  REPORT UNDER SECTION 13 0R 15(d) OF THE SECURITIES EXCHANGE ACT                  OF 1934:                  FOR THE TRANSITION PERIOD                  FROM _____to_____.** |
|--------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Commission        file number 000-51225**

| **MAKEUP.COM                  LIMITED**                                                             |
|-----------------------------------------------------------------------------------------------------|
| (Exact                  name of small business issuer as specified in its                  charter) |

| **Nevada**(State                  or other jurisdictionof                  incorporation or organization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | **43-2041643**(I.R.S.                  EmployerIdentification                  No.) |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|
|  **3388                  Via Lido, Newport Beach, California, 92663**(Address                  of principal executive offices)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|  **1-866-347-5057**(Issuer’s                  telephone number)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|  **                                                                                             **(Former                  name, former address and former                  fiscal year, if                  changed since last report) |

**[        X ] Yes  [   ] No**

**[          ] Yes  [ X ] No**

**APPLICABLE        ONLY TO CORPORATE ISSUERS**

| **Class**                                        |   | **Outstanding                  at August 13, 2007** |
|--------------------------------------------------|--------|-----------------------------------------------------|
|                                             |   |                                                |
| common                  stock - $0.001 par value |   | 44,831,250                                          |

**Yes [   ] No [ X        ]**

----

**PART          I - FINANCIAL INFORMATION**

**Item        1.**

**Financial        Statements.**

**MAKEUP.COM          LIMITED**

**CONDENSED          CONSOLIDATED BALANCE          SHEETS**

|                                                                                                      |       | **June                    30,** | ** ** | ** ** | **December                    31,** | ** ** |
|-----------------------------------------------------------------------------------------------------------|------------|---------------------------------|------------|------------|-------------------------------------|------------|
| ** **                                                                                                | ** ** | **2007**                        | ** ** | ** ** | **2006**                            | ** ** |
| ** **                                                                                                | ** ** | **(Unaudited)**                 | ** ** | ** ** |                                |       |
| **ASSETS**                                                                                                |
|                                                                                                      |       |                            |       |       |                                |       |
| Current                    assets:                                                                        |       |                            |       |       |                                |       |
| Cash                                                                                                      |       | $                               | 32,975     |       |                                | $          | 62,611 |   |
| Accounts                    receivable, less                    allowances of $251 and $297, respectively |       |                            | 11,427     |       |                                |       | 20,793 |   |
| Inventory                                                                                                 |       |                            | 420,386    |       |                                |       | 320,216 |   |
| Prepaid                    expenses and                    deposits                                       |       |                            | 22,439     |       |                                |       | 30,622 |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Total                    current                    assets                                                |       |                            | 487,227    |       |                                |       | 434,242 |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Fixed                    assets, net of $102,077 and                    $61,498 accumulated depreciation  |       |                            | 77,401     |       |                                |       | 114,560 |   |
| Deposit                                                                                                   |       |                            | 70,000     |       |                                |       | 70,000 |   |
| Intangible                    assets                                                                      |       |                            | 333,334    |       |                                |       | 333,333 |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Total                    assets                                                                           |       | $                               | 967,962    |       |                                | $          | 952,135 |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| **LIABILITIES                    AND STOCKHOLDERS'                    DEFICIT**                           |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Current                    liabilities:                                                                   |       |                            |       |       |                                |       |   |   |
| Accounts                    payable                                                                       |       | $                               | 238,980    |       |                                | $          | 236,938 |   |
| Accrued                    liabilities                                                                    |       |                            | 29,521     |       |                                |       | 78,183 |   |
| Advances  payable                                                                               |       |                            | 2,697      |       |                                |       | 2,545,901 |   |
| Note                    payable                                                                           |       |                            | 346,130    |       |                                |       | 339,178 |   |
| Convertible                    notes                    payable                                           |       |                            | 3,205,596  |       |                                |       | - |   |
| Due                    to related                    parties                                              |       |                            | 13,188     |       |                                |       | 4,156 |   |
| Deferred                    assets                                                                        |       |                            | 3,273      |       |                                |       | - |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Total                    current                    liabilities                                           |       |                            | 3,839,385  |       |                                |       | 3,204,356 |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Commitments                    and                    contingencies                                       |       |                            |       |       |                                |       |   |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Stockholders'                    deficit:                                                                 |       |                            |       |       |                                |       |   |   |
| Common                    stock $0.001 par value,                    200,000,000 authorized;              |       |                            |       |       |                                |       |   |   |
| 44,831,250                    issued and outstanding                    at June 30, 2007                  |       |                            |       |       |                                |       |   |   |
| and                    December 31, 2006                                                                  |       |                            | 44,831     |       |                                |       | 44,831 |   |
| Accumulated                    deficit                                                                    |       |                            | (2,897,578 | )          |                                |       | (2,287,035 | ) |
| Accumulated                    other comprehensive                    loss                                |       |                            | (18,676    | )          |                                |       | (10,017 | ) |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Total                    stockholders'                    deficit                                         |       |                            | (2,871,423 | )          |                                |       | (2,252,221 | ) |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
|                                                                                                      |       |                            |       |       |                                |       |   |   |
| Total                    liabilities and                    stockholders' deficit                         |       | $                               | 967,962    |       |                                | $          | 952,135 |   |

**See accompanying          notes to          unaudited condensed consolidated financial          statements.**

----

**MAKEUP.COM          LIMITED**

**CONDENSED          CONSOLIDATED STATEMENTS OF          OPERATIONS**

**(UNAUDITED)**

|                                                                                                         |   | **Three                    Months Ended****June                    30,** |       |   | **Six                    Months Ended****June                    30,** |   |
|--------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------|------------|--------|------------------------------------------------------------------------|--------|
|                                                                                                         |   | **2007**                                                                 |       |   | **2006**                                                               |   |   | **2007** |   |   | **2006** |   |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |
| Sales                                                                                                        |   | $                                                                        | 110,785    |   |                                                                   | $      | 40,383 |   |   | $ | 224,726 |   |   | $ | 98,292 |   |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Cost                    of goods                    sold                                                     |   |                                                                     | 104,527    |   |                                                                   |   | 30,123 |   |   |   | 210,174 |   |   |   | 73,203 |   |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Gross                    profit                                                                              |   |                                                                     | 6,258      |   |                                                                   |   | 10,260 |   |   |   | 14,552 |   |   |   | 25,089 |   |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                    expenses:                                                                       |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| General                    and                    administrative                                             |   |                                                                     | 244,483    |   |                                                                   |   | 178,296 |   |   |   | 434,520 |   |   |   | 324,595 |   |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    loss from continuing                    operations  before interest expense |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| and                    discontinued                    operations                                            |   |                                                                     | (238,225   | )      |                                                                   |   | (168,036 | ) |   |   | (419,968 | ) |   |   | (299,506 | ) |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                    expense                                                                          |   |                                                                     | (58,976    | )      |                                                                   |   | - |   |   |   | (65,551 | ) |   |   | - |   |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    loss from continuing                    operations before discontinued operations     |   |                                                                     | (297,201   | )      |                                                                   |   | (168,036 | ) |   |   | (485,519 | ) |   |   | (299,506 | ) |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Loss                    from discontinued                    operations                                      |   |                                                                     | (54,767    | )      |                                                                   |   | (72,925 | ) |   |   | (125,024 | ) |   |   | (149,745 | ) |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    loss                                                                                  |   | $                                                                        | (351,968   | )      |                                                                   | $      | (240,961 | ) |   | $ | (610,543 | ) |   | $ | (449,251 | ) |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    loss per share - basic and                    diluted:                                |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Continuing                    operations                                                                     |   | $                                                                        | (0.01      | )      |                                                                   | $      | (168.03 | ) |   | $ | (0.01 | ) |   | $ | (299.50 | ) |
|  Discontinued                    operations                                                             |   |                                                                     | (0.00      | )      |                                                                   |   | (72.93 | ) |   |   | (0.00 | ) |   |   | (149.75 | ) |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Net                    loss per                    share                                                     |   | $                                                                        | (0.01      | )      |                                                                   | $      | (240.96 | ) |   | $ | (0.01 | ) |   | $ | (449.25 | ) |
|                                                                                                         |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted                    average number of shares                    outstanding -                        |   |                                                                     |       |   |                                                                   |   |   |   |   |   |   |   |   |   |   |   |
| basic                    and                    diluted                                                      |   |                                                                     | 44,831,250 |   |                                                                   |   | 1,000 |   |   |   | 44,831,250 |   |   |   | 1,000 |   |

**See accompanying          notes to          unaudited condensed consolidated financial          statements.**

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**MAKEUP.COM          LIMITED**

**CONDENSED          CONSOLIDATED STATEMENT OF          STOCKHOLDERS' DEFICIT AND COMPREHENSIVE LOSS **

**FOR            THE SIX MONTHS ENDED JUNE 30, 2007            and 2006 **

**(UNAUDITED)**

|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |
|--------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------|------------|--------|------------|--------|--------|-----------------|--------|--------|--------------------------------------|--------|
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   | **Accumulated**                      |   |   |   |   |
|                                                                     |   | **Common                    Stock                    Issued**    |       |   |       |   |   | **Other**       |   |   |                                 |   |
|                                                                     |   | **Number                    of**                                                |       |   |       |   |   | **Accumulated** |   |   | **Comprehensive**                    |   |   |   |   |
|                                                                     |   | **Shares**                                                                      |       |   | **Amount** |   |   | **Deficit**     |   |   | **Income                    (Loss)** |   |   | **Total** |   |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |
| Balance                    January 1,                    2006            |   |                                                                            | 1,000      |   |       | $      | 1      |            |   | $      | (1,022,873                           | )      |   | $ | (12,226 | ) |   | $ | (1,035,098 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Net                    loss for the six                    months        |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| ended                    June 30,                    2006                |   |                                                                            | -          |   |       |   | -      |            |   |   | (449,251                             | )      |   | ** ** | **-** |   |   |   | (449,251 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Foreign                    currency exchange                    loss     |   |                                                                            | -          |   |       |   | -      |            |   |   | -                                    |   |   |   | 4,098 |   |   |   | 4,098 |   |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Comprehensive                    loss                                    |   |                                                                            | -          |   |       |   | -      |            |   |   | -                                    |   |   |   | - |   |   |   | (445,153 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Balance                    at June 30,                    2006           |   |                                                                            | 1,000      |   |       |   | 1      |            |   |   | (1,472,124                           | )      |   |   | (8,128 | ) |   |   | (1,480,251 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Net                    loss for the six                    months        |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| ended                    December                    31,  2006 |   |                                                                            | -          |   |       |   | -      |            |   |   | (635,047                             | )      |   |   | - |   |   |   | (635,047 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Foreign                    currency exchange                    gain     |   |                                                                            | -          |   |       |   | -      |            |   |   | -                                    |   |   |   | (1,889 | ) |   |   | (1,889 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Comprehensive                    loss                                    |   |                                                                            | -          |   |       |   | -      |            |   |   | -                                    |   |   |   | - |   |   |   | (636,936 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Merger                    of Makeup.com                    Limited       |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| and                    Makeup                    Incorporated            |   |                                                                            | 44,830,250 |   |       |   | 44,830 |            |   |   | (179,864                             | )      |   |   | - |   |   |   | (135,034 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Balance                    at December 31,                    2006       |   |                                                                            | 44,831,250 |   |       |   | 44,831 |            |   |   | (2,287,035                           | )      |   |   | (10,017 | ) |   | $ | (2,252,221 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Net                    loss for the six                    months        |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| ended                    June 30,                    2007                |   |                                                                            | -          |   |       |   | -      |            |   |   | (610,543                             | )      |   | ** ** | **-** |   |   |   | (610,543 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Foreign                    currency exchange                    gain     |   |                                                                            | -          |   |       |   | -      |            |   |   | -                                    |   |   |   | (8,659 | ) |   |   | (8,659 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Comprehensive                    loss                                    |   |                                                                            | -          |   |       |   | -      |            |   |   | -                                    |   |   |   | - |   |   |   | (619,202 | ) |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
|                                                                     |   |                                                                            |       |   |       |   |   |            |   |   |                                 |   |   |   |   |   |   |   |   |   |
| Balance                    at June 30,                    2007           |   |                                                                            | 44,831,250 |   |       | $      | 44,831 |            |   | $      | (2,897,578                           | )      |   | $ | (18,676 | ) |   | $ | (2,871,423 | ) |

**See accompanying          notes to          unaudited condensed consolidated financial          statements.**

----

**MAKEUP.COM          LIMITED**

**CONDENSED          CONSOLIDATED STATEMENTS OF          CASH FLOWS **

**(UNAUDITED)**

|                                                                                                                                               |       | **Six                    Months                    Ended****June                    30,** | ** ** |
|----------------------------------------------------------------------------------------------------------------------------------------------------|------------|-------------------------------------------------------------------------------------------|------------|
| ** **                                                                                                                                         | ** ** | **2007**                                                                                  | ** ** | ** ** | **2006** |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |
| Cash                    flows from operating                    activities:                                                                        |       |                                                                                      |       |   |   |   |
| Net                    loss                                                                                                                        |       | $                                                                                         | (610,543   | ) |   | $ | (449,251 | ) |
| Adjustments                    to reconcile net loss                    to net cash (used in) provided by operating                    activities: |       |                                                                                      |       |   |   |   |   |   |
| Depreciation                                                                                                                                       |       |                                                                                      | 43,064     |   |   |   | 8,423 |   |
| Loss                    on disposal of fixed                    assets                                                                             |       |                                                                                      | 6,418      |   |   |   | - |   |
| Changes                    in operating assets and                    liabilities:                                                                 |       |                                                                                      |       |   |   |   |   |   |
| Accounts                    receivable                                                                                                             |       |                                                                                      | 3,095      |   |   |   | (2,993 | ) |
| Inventory                                                                                                                                          |       |                                                                                      | (100,170   | ) |   |   | (15,766 | ) |
| Prepaid                    expenses and                    deposits                                                                                |       |                                                                                      | 8,183      |   |   |   | (12,599 | ) |
| Due                    from                    affiliate                                                                                           |       |                                                                                      | -          |   |   |   | (61,963 | ) |
| Accounts                    payable                                                                                                                |       |                                                                                      | 2,042      |   |   |   | 38,230 |   |
| Accrued                    liabilities                                                                                                             |       |                                                                                      | (48,662    | ) |   |   | (14,313 | ) |
| Interest                    on convertible notes                    payable                                                                        |       |                                                                                      | 52,458     |   |   |   | - |   |
| Interest                    on note                    payable                                                                                     |       |                                                                                      | 13,223     |   |   |   | - |   |
| Due                    to related                    parties                                                                                       |       |                                                                                      | 9,032      |   |   |   | 359,263 |   |
| Deferred                    revenue                                                                                                                |       |                                                                                      | 1,006      |   |   |   | (581 | ) |
| Deferred                    rent                                                                                                                   |       |                                                                                      | 2,267      |   |   |   | - |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Net                    cash (used in) operating                    activities                                                                      |       |                                                                                      | (618,587   | ) |   |   | (151,550 | ) |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Cash                    flows from investing                    activities:                                                                        |       |                                                                                      |       |   |   |   |   |   |
| Proceeds                    on disposal of fixed                    assets                                                                         |       |                                                                                      | 1,321      |   |   |   | - |   |
| Acquisition                    of fixed                    assets                                                                                  |       |                                                                                      | (13,644    | ) |   |   | (3,348 | ) |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Net                    cash used in investing                    activities                                                                        |       |                                                                                      | (12,323    | ) |   |   | (3,348 | ) |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Cash                    flows from financing                    activities:                                                                        |       |                                                                                      |       |   |   |   |   |   |
| Acquisition                    of domain                    name                                                                                   |       |                                                                                      | (1         | ) |   |   | - |   |
| Increase                    in convertible notes                    payable                                                                        |       |                                                                                      | 310,000    |   |   |   | - |   |
| Increase                    in advances                    payable                                                                                 |       |                                                                                      | 299,934    |   |   |   | 167,917 |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Net                    cash provided by financing                    activities                                                                    |       |                                                                                      | 609,933    |   |   |   | 167,917 |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Effects                    of foreign currency                    exchange                                                                         |       |                                                                                      | (8,659     | ) |   |   | 4,098 |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Net                    increase in                    cash                                                                                         |       |                                                                                      | (29,636    | ) |   |   | 17,117 |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Cash,                    beginning of the                    period                                                                                |       |                                                                                      | 62,611     |   |   |   | 7,152 |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Cash,                    end of the                    period                                                                                      |       | $                                                                                         | 32,975     |   |   | $ | 24,269 |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Supplemental                    disclosure of                    non-cash investing and financing activities:                                      |       |                                                                                      |       |   |   |   |   |   |
| Cash                    paid during the                    period:                                                                                 |       |                                                                                      |       |   |   |   |   |   |
| Taxes                                                                                                                                              |       | $                                                                                         | -          |   |   | $ | - |   |
| Interest                                                                                                                                           |       | $                                                                                         | -          |   |   | $ | - |   |
|                                                                                                                                               |       |                                                                                      |       |   |   |   |   |   |
| Non-cash                    financing                    transactions:                                                                             |       |                                                                                      |       |   |   |   |   |   |
| Advances                    payable converted to                    convertible notes payable                                                      |       | $                                                                                         | 2,843,138  |   |   | $ | - |   |
| Account                    receivable offset against                    interest payable                                                           |       | $                                                                                         | 6,271      |   |   | $ | - |   |

**See accompanying          notes to          unaudited condensed consolidated financial          statements.**

----

**MAKEUP.COM          LIMITED**

**NOTES          TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE            30, 2007**

**(UNAUDITED)**

| **1.** | **ORGANIZATION                      AND PRINCIPAL ACTIVITIES** |
|--------|----------------------------------------------------------------|

**Basis            of Presentation**

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

**Principles            of Consolidation**

----

**MAKEUP.COM                LIMITED**

**NOTES                TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE                  30, 2007**

**(UNAUDITED)**

**2.**
**SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES,**

**Inventories**

**Discontinued            Operations**

*“Accounting for Costs Associated with Exit or Disposal Activities”*

| **3.** | **GOING                      CONCERN** |
|--------|----------------------------------------|

----

**MAKEUP.COM                LIMITED**

**NOTES                TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE                  30, 2007**

**(UNAUDITED)**

| **4.** | **BALANCE                            SHEET                            DETAIL** |
|--------|--------------------------------------------------------------------------------|

|                                                     |   | **June                        30,** |        |   |  **December                        31,** |   |
|----------------------------------------------------------|--------|-------------------------------------|-------------|--------|-----------------------------------------------|--------|
| **Inventories**                                          |   | **2007**                            |        |   | **2006**                                      |   |
|                                                     |   |                                |        |   |                                          |   |
| Goods                        for resale                  |   | $                                   | 407,974     |   |                                          | $      | 300,624 |   |
| Goods                        in transit                  |   |                                | 12,412      |   |                                          |   | 19,592 |   |
|                                                     |   | **$**                               | **420,386** |   |                                          | **$**  | **320,216** |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
|                                                     |   | J**une                        30,** |        |   | **December                        31,**       |   |
| **Prepaid                        expenses and deposits** |   | **2007**                            |        |   | **2006**                                      |   |
| Other                        prepaid deposits            |   | $                                   | -           |   |                                          | $      | 22,450 |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
| Prepaid                        marketing                 |   |                                | 9,993       |   |                                          |   | 364 |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
| Other                        prepaid expenses            |   |                                | 12,446      |   |                                          |   | 7,808 |   |
|                                                     |   | **$**                               | **22,439**  |   |                                          | **$**  | **30,622** |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
|                                                     |   | J**une                        30,** |        |   | **December                        31,**       |   |
| **Fixed                        assets**                  |   | **2007**                            |        |   | **2006**                                      |   |
| Computer                        equipment and software   |   | $                                   | 179,478     |   |                                          | $      | 165,834 |   |
| Equipment                                                |   |                                | -           |   |                                          |   | 8,420 |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
| Leasehold                        improvements            |   |                                | -           |   |                                          |   | 1,804 |   |
|                                                     |   |                                |        |   |                                          |   |   |   |
| Book                        value                        |   |                                | 179,478     |   |                                          |   | 176,058 |   |
| Less:                        accumulated depreciation    |   |                                | (102,077    | )      |                                          |   | (61,498 | ) |
|                                                     |   | **$**                               | **$77,401** |   |                                          | **$**  | **114,560** |   |

| **5.** | **ADVANCES                      PAYABLE** |
|--------|-------------------------------------------|

----

**MAKEUP.COM              LIMITED**

**NOTES              TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE                30, 2007**

**(UNAUDITED)**

| **6.** | **NOTES                      PAYABLE** |
|--------|----------------------------------------|

| **7.** | **DUE                      TO RELATED PARTIES** |
|--------|-------------------------------------------------|

| **8.** | **SEGMENT                      INFORMATION** |
|--------|----------------------------------------------|

| **9.** | **COMMITMENT** |
|--------|----------------|

**Lease            Commitment**

----

**Item        2. Management’s Discussion and Analysis or Plan of        Operation**

**Forward-Looking          Statements**

**General**

----

**Our          Objectives and Areas of Focus**

|     (a) | Free                  gifts and samples with every                  order, |
|-----------------------------|----------------------------------------------------------------------------|
|     (b) | A                    new makeup.com                    forum, |
|-----------------------------|---------------------------------------------------------------|

|     (c) | Moving                    to a new US                    based warehouse facility                    to improve the capacity and speed of                    order                    fulfillment, |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|     (d) | A                    new payment                    processing system –                    PayPal, |
|-----------------------------|----------------------------------------------------------------------------------------------------------|

|     (e) | Expanded                    website layout and design                    to allow for new marketing techniques, improved navigation, and                    additional                    product offerings on most pages,                    and |
|-----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|     (f) | New                  cost saving shipping methods                  to reduce shipping fixed                  costs |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------|

|     (a) | Brand                    expansion – we will continue to provide the crème de la crème and the most                    sought after brands to our consumers, |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|     (b) | Organic                  products – we plan to continue bringing in organic brands as these                  products continue to be popular with our                  shoppers, |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|     (c) | Samples                    – we will continue to include samples in each order to provide                    customers                    with an opportunity to experience new                    brands, |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|     (d) | Gift                    with Purchase – we will continue to offer limited edition promotional                    gifts with customer purchases, and |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|     (e) | One-stop                    beauty shopping destination – our goal is to make our makeup website a                    one-stop beauty destination and thus we are continually monitoring                    consumer demand and changing tastes in our quest to meet our                    customer’s                    beauty regimen expectations. |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|     (a) | Offering                    gift certificates, |
|-----------------------------|------------------------------------------------|

|     (b) | Introducing                    customer incentive/loyalty programs to reward our customers for                    new                    referrals as well as current                    purchases, |
|-----------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|     (c) | Creating                    a customer ‘wish list’ (“gift                    registry”), |
|-----------------------------|------------------------------------------------------------------------------------------------------------------|

|     (d) | Introducing                    value added contents over and above our current beauty tips                    section, |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------|

|     (e) | Offering                    more customer shipping options, and |
|-----------------------------|-----------------------------------------------------------------|
|     (f) | Offering                  additional order payment methods. |
|-----------------------------|-------------------------------------------------------------|

|     (a) | Adding                    a wider range of products, |
|-----------------------------|------------------------------------------------------|

|     (b) | Making                    it easier to navigate through the                    site, |
|-----------------------------|--------------------------------------------------------------------------------------|

|     (c) | Simplifying                    the check out process, |
|-----------------------------|-------------------------------------------------------|

|     (d) | Improving                    and simplifying the establishment and functionality of customer                    accounts, |
|-----------------------------|---------------------------------------------------------------------------------------------------------------------------|

|     (e) | Making                    changes necessary to improve the natural web search through search                    engine                    optimization techniques, |
|-----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|     (f) | Adding                  customer account profiles to the website so customers can view                  their order                  history and current purchases, and |
|-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|     (g) | Improving                    and adding security measures. |
|-----------------------------|------------------------------------------------------------|

----

**Challenges          and Risks**

**Critical          Accounting Policies and Estimates**

----

***Revenue          Recognition***

*“Accounting for Consideration Given by a Vendor to a Customer or a          Reseller          of the Vendor’s Products”, *

*“Accounting for Revenue Arrangements with Multiple          Deliverables", *

*“Revenue Recognition when Right of Return          Exists”*

      -  the              price is fixed or determinable; 
      -  the              customer is obligated to pay and there are no contingencies surrounding              the              obligation or the payment; 
      -  the              customer’s obligation would not change in the event of theft or damage to the              product; 
      -  the              customer has economic substance; 
      -  the              amount of returns can be reasonable estimated; and 
      -  we              do              not have significant obligations for future performance in order to              bring              about resale of the product by the customer. 

*Reporting          Revenue Gross as a Principal versus Net as an Agent*

----

***Inventories***

***Discontinued          Operations***

*“Accounting for Costs Associated with Exit or Disposal Activities”*

***Advertising***

***Recent          Accounting Pronouncements***

**Operations          Review**

----

----

**Related-Party          Transactions**

**COMPARISON          OF THE THREE AND SIX MONTHS ENDED JUNE 30, 2007 AND 2006**

***Overall          Results of Operations***

***Revenues***

***Cost          of Goods Sold and Gross Profit***

----

***Operating          Expenses***

----

***Interest          Expense***

***Loss          from Discontinued Operations***

**Off-Balance-Sheet          Arrangements**

**Liquidity,          Capital Resources and Financial Position**

----

| **Sources                  and Uses of Cash**                          |       |                           |       |
|------------------------------------------------------------------------|------------|--------------------------------|------------|
|                                                                   |       | **June                    30** | ** ** |
| ** **                                                             | ** ** | **2007**                       | ** ** | ** ** | **2006** |   |
|                                                                   |       |                           |       |   |   |   |
| Net                    cash (used in) provided by operating activities |       | $                              | (618,587   | ) |   | $ | (151,550 | ) |
| Net                    cash used in investing activities               |       |                           | (12,323    | ) |   |   | (3,348 | ) |
| Net                    cash provided by financing activities           |       |                           | 609.933    |   |   |   | 167,917 |   |
| Effects                    of foreign currency exchange                |       |                           | (8,659     | ) |   |   | 4,098 |   |
|                                                                   |       |                           |       |   |   |   |   |   |
| Net                    increase in cash                                |       | $                              | (29,636    | ) |   | $ | 17,117 |   |

**Net          Cash Used In Operating Activities**

**Net          Cash Used In Investing Activities**

**Net          Cash Provided By Financing Activities**

**Contingencies          and Commitments**

----

**Contractual          Obligations**

***Note          payable and Advances Payable***

***Lease          Commitments***

|                                 |   |      |       |       | **Payments                    due by period**                 |       |       |                             |       |
|--------------------------------------|--------|-----------|------------|------------|---------------------------------------------------------------|------------|------------|----------------------------------|------------|
|                                 |   | **Total** | ** ** | ** ** | **Less                    than****1                    year** | ** ** | ** ** | **1-3                    years** | ** ** | ** ** | **3-5                    years** | ** ** | ** ** | **More                    than****5                    years** |   |
|                                 |   |      |       |       |                                                          |       |       |                             |       |   |   |   |   |   |   |
| Lease                    commitments |   | $         | 27,200     |       |                                                          | $          | 27,200     |                             |       | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |   |
|                                 |   |      |       |       |                                                          |       |       |                             |       |   |   |   |   |   |   |   |   |   |   |   |
| Total                                |   | $         | 27,200     |       |                                                          | $          | 27,200     |                             |       | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |   |

**Internal          and External Sources of Liquidity**

**Foreign          Exchange**

**Inflation**

**Item            3. Controls and Procedures.**

**Disclosure            Controls and Procedures**

----

**Exchange Act**
**Evaluation Date**

**Changes        in Internal Controls**

**PART        II - OTHER INFORMATION**

**Item        1. Legal Proceedings.**

**Item        2. Unregistered Sales of Equity Securities and Use of        Proceeds.**

**Item        3. Defaults Upon Senior Securities.**

**Item        4. Submission of Matters to a Vote of Security Holders.**

**Item        5. Other Information.**

----

**Item        6. Exhibits**

**(a)  Index        to and Description of Exhibits**

| **Exhibit**    |   | **Description**                                                                                                                                                                                                                                                                                                                                                             |   | **Status**  |
|----------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|
| **3.1**   |   | Articles                  of Incorporation of Tora Technologies Inc. filed as an Exhibit                  to                  Makeup.com’s Form SB-2 filed on March 5, 2004 and incorporated herein by                  reference.                                                                                                                                    |   | Filed       |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **3.2**        |   | By-Laws                  of Tora Technologies Inc. filed as an Exhibit to Makeup.com’s Form SB-2                  filed on March 5, 2004 and incorporated herein by                  reference.                                                                                                                                                                       |   | Filed       |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **3.3**   |   | Certificate                  of Amendment of Makeup.com Limited filed as an Exhibit to Makeup.com’s                  Form 8-K (Current Report) filed on November 21, 2006 and incorporated                  herein by reference.                                                                                                                                      |   | Filed  |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **4.1**   |   | Instrument                  Defining the Rights of Security Holders filed as an Exhibit to                  Makeup.com’s Form SB-2 filed on March 5, 2004 and incorporated herein by                  reference.                                                                                                                                                      |   | Filed  |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **10.1**  |   | Service                  Agreement between Tora Technologies Inc. and LA Embroidery Inc.                  dated                  October 20, 2003 filed as an Exhibit to Makeup.com’s Form SB-2 filed on                  March 5, 2004 and incorporated herein by reference.                                                                                         |   | Filed  |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **10.2**  |   | Amended                  Service Agreement between Tora Technologies Inc. and LA Embroidery                  Inc.                  dated November 15, 2004 filed as an Exhibit to Makeup.com’s Form SB-2                  filed on February 4, 2005 and incorporated herein by                  reference.                                                            |   | Filed  |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **10.3**  |   | Amended                  Service Agreement (2nd                  Amendment)                  between Tora Technologies Inc. and LA Embroidery Inc. dated November                  15,                  2005 filed as an Exhibit to Makeup.com’s Form 10-KSB (Annual Report) filed                  on March 29, 2006 and incorporated herein by reference.           |   | Filed  |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **10.4**  |   | Termination                  Agreement between Tora Technologies Inc. and LA Embroidery Inc.                  dated July                  6, 2006 filed as an Exhibit to Makeup.com’s Form 8-K (Current Report)                  filed on July 7, 2006 and incorporated herein by                  reference.                                                         |   | Filed  |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **10.5**  |   | Asset                  Purchase Agreement dated October 20, 2006 between Tora Technologies                  Inc.                  and Manhattan Assets Corp., filed as an Exhibit to Makeup.com’s Form 8-K                  (Current Report) filed on October 23, 2006 and incorporated herein                  by                  reference.                        |   | Filed  |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **10.6**  |   | Assignment                  of Debt Agreement dated October 20, 2006 among Tora Technologies                  Inc.,                  Manhattan Assets Corp. and Makeup Incorporated, filed as an Exhibit                  to                  Makeup.com’s Form 8-K (Current Report) filed on October 23, 2006 and                  incorporated herein by reference. |   | Filed  |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **10.7**  |   | Transfer                  Agreement dated October 13, 2006 between Makeup Incorporated and                  Manhattan                  Assets Corp., filed as an Exhibit to Makeup.com’s Form 8-K/A (Current                  Report) filed on October 27, 2006 and incorporated herein by                  reference.                                                |   | Filed       |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **14**         |   | Code                  of Ethics                                                                                                                                                                                                                                                                                                                                             |   | Filed       |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **31**         |   | Certifications                  pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                  |   | Included    |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **32**         |   | Certification                  pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section                  906 of                  the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                  |   | Included    |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **99.2**       |   | Audit                  Committee Charter                                                                                                                                                                                                                                                                                                                                    |   | Filed       |
|           |   |                                                                                                                                                                                                                                                                                                                                                                        |   |        |
| **99.3**       |   | Disclosure                  Committee Charter                                                                                                                                                                                                                                                                                                                               |   | Filed       |

----

**SIGNATURES**

|                                                             | **MAKEUP.COM                  LIMITED** |                                           |
|------------------------------------------------------------------|-----------------------------------------|------------------------------------------------|
|                                                             |                                    |                                           |   |
| Date: August                    14,                    2007 | By:                                     | /s/ Robert                E. Rook         |   |
|                                                             |                                    | Robert                E. Rook                  |   |
|                                                             |                                    | Director                and CEO                |   |
|                                                             |                                    | (Principal                  Executive Officer) |   |
| Date: August                    14,                    2007 | By:    | /s/ Munjit                Johal               |   |
|------------------------------------------------------------------|--------|----------------------------------------------------|--------|
|                                                             |   | Munjit                  Johal                      |   |
|                                                             |   | Director                and CFO                    |   |
|                                                             |   | (Principal                  Financial Officer**)** |   |