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 January 31, 2008





[]
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:  March 11, 2008 No par common 47,617,777 .





Transitional
Small Business Format (Check One): Yes []   No [X]







PART I. FINANCIAL
INFORMATION






Item 1.  Financial
Statements.






Titan
      Technologies, Inc.BALANCE
      SHEETJanuary
      31, 2008(UNAUDITED)ASSETSCurrent
      AssetsCash
              
              $
              33,995Other
      AssetsDeposits
              
              
              25,000Other
              
              
              60925,609$
              59,604LIABILITIES
      AND STOCKHOLDERS'  (DEFICIT)Current
      LiabilitiesAccounts
      payable
              
              $
              3,924Other
      accrued liabilities
              
              
              1,215Deferred
      revenue
              
              
              470,000Total
      Current Liabilities
              
              
              475,139Stockholders'
      (Deficit)Common
      stock - no par value; authorized, 50,000,000 shares;47,334,777
      shares issued, 47,317,777 shares outstanding
              
              
              4,057,234Treasury
      stock, 17,000 shares, at cost
              
              
              -Accumulated
      (deficit)
              
              
              (4,472,769
              )(415,535
              )$
              59,604




See the
accompanying notes to the financial statements.


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2 -




Titan
      Technologies, Inc.STATEMENTS
      OF OPERATIONSFor
      The Three Months Ended January 31, 2008 and 2007(UNAUDITED)2008
              
              
              2007REVENUES
              
              $
              -
              
              
              $
              -.COSTS
      AND EXPENSESGeneral
      and administrative
              
              
              76,339
              
              
              
              83,561Outside
      services
              
              
              4,281
              
              
              
              5,684Depreciation
              
              
              27
              
              
              
              2780,647
              
              
              
              89,272(Loss)
      from operations
              
              
              (80,647
              )
              
              
              (89,272
              )Provision
      for income taxes
              
              
              -
              
              
              
              -Net
      (loss)
              
              $
              (80,647
              )
              
              $
              (89,272
              )Weighted
      average common shares outstanding -Basic
      and diluted
              
              
              46,836,473
              
              
              
              45,098,861Basic
      and diluted (loss) per common share
              
              $
              (0.00
              )
              
              $
              (0.00
              )


See the
accompanying notes to the financial statements.


-
3 -




Titan
      Technologies, Inc.STATEMENTS
      OF OPERATIONSFor
      The Six Months Ended January 31, 2008 and 2007(UNAUDITED)2008
                
                
                2007REVENUES
                
                $
                -
                
                
                $
                -.COSTS
      AND EXPENSESGeneral
      and administrative
                
                
                140,458
                
                
                
                137,223Outside
      services
                
                
                4,281
                
                
                
                11,829Stock
      compensation
                
                
                -
                
                
                
                24,309Depreciation
                
                
                53
                
                
                
                53144,792
                
                
                
                173,414(Loss)
      from operations
                
                
                (144,792
                )
                
                
                (173,414
                )Provision
      for income taxes
                
                
                -
                
                
                
                -Net
      (loss)
                
                $
                (144,792
                )
                
                $
                (173,414
                )Weighted
      average common shares outstanding -Basic
      and diluted
                
                
                46,462,399
                
                
                
                44,973,719Basic
      and diluted (loss) per common share
                
                $
                (0.00
                )
                
                $
                (0.00
                )
 See the
accompanying notes to the financial statements.




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4 -




Titan
      Technologies, Inc.STATEMENTS
      OF CASH FLOWSFor
      The Six Months Ended January 31, 2008 and 2007(UNAUDITED)2008
              
              
              2007Cash
      flows from operating activitiesNet
      cash (used in) operating activities
              
              $
              (138,082
              )
              
              $
              (37,219
              )Cash
      flows from investing activitiesNet
      cash provided by investing activities
              
              
              -
              
              
              
              -Cash
      flows from financing activitiesProceeds
      from sale of common stock
              
              
              141,494
              
              
              
              71,000Net
      cash provided by financing activities
              
              
              141,494
              
              
              
              71,000Net
      increase in cash
              
              
              3,412
              
              
              
              33,781Cash
      at beginning of period
              
              
              30,583
              
              
              
              34,902Cash
      at end of period
              
              $
              33,995
              
              
              $
              68,683
 See the
accompanying notes to the financial statements.




-
5 -




Titan
Technologies, Inc.


Notes to
Financial Statements


January
31, 2008


(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, 2007.
 
 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
six months ended January 31, 2008 the Company incurred a net loss of $144,792
and had working capital and stockholders' deficits of $441,144 and $415,535,
respectively, at January 31, 2008. In addition, the Company has no revenue
producing operations.
 
 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.


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6 -





Titan
Technologies, Inc.
 Notes to
Financial Statements
 January
31, 2008
 (Unaudited)








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 six months ended January 31, 2008 the Company sold 1,354,938 shares of
common stock for cash proceeds aggregating $141,494.
 
 The
Company has a compensatory stock option plan.  Under the plan, the
Company may grant options for up to 1,350,000 shares of common
stock.  The Board of Directors shall determine the exercise price and
term of the options.  The options vest on the date granted. All
options outstanding at January 31, 2008 were granted to employees or directors
in the fiscal year ended July 31, 2005 and expire in the year ending July 31,
2015.
 
 Summarized
information relative to the Company's stock option is as
follows:


Number
      of
              Shares
            Weighted
      Average
              Exercise
      PriceOutstanding
      at July 31, 2007
            1,350,000
            $
      0.12Granted
            -
            -Exercised
            300,000
            0.12Forfeited
            -
            -Outstanding
      at January 31, 2008
            1,050,000
            0.12




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 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 licensing fees, ($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 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 Holding, Ltd.
("PPT"), in this amount.


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7 -





Titan
Technologies, Inc.
 Notes to
Financial Statements
 January
31, 2008
 (Unaudited)








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 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 its first plant in Nuevo Laredo, Mexico, and has secured sufficient
financing to commence construction of the plant. PPT has obtained the building
permit for the first plant, but has not secured sufficient financing to commence
construction.  Upon commencement of the construction of the first
plant PPT will become obligated to pay Titan an initial installment of $300,000
of the remaining $900,000 for the license fee for the first
plant.  The Agreement also calls for a $200,000 payment for the
exclusive license, for PPT to utilize Titan's tire recycling technology in
Mexico, which amount has been previously received, as stated above.
 
 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 and its predecessor paid Titan $320,000, and
PPT 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. An additional $50,000 was
received during the fiscal year ended July 31, 2007.  Since
construction has not yet commenced, the entire deposit is presented as deferred
revenue at January 31, 2008.
 
 The
Mexican License further provides that Licensee 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
royalty payments for first three plants 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 seven percent (7%) ownership interest in PPT for
$100,000, of which $75,000 was paid during fiscal 2005 pursuant to previous
agreements that were subsequently deemed void.  Titan has been given
credit for its previous payments, towards the purchase of its investment in
PPT.  Since PPT is in the organizational stages, the final $25,000
paid in fiscal 2006 is presented as a deposit at January 31, 2008.
 
 Effective
August 23, 2006, the Company entered into another licensing agreement with an
unrelated investor group, Ally Investment, LLP (“Ally”), for the use of Titan's
recycling patents 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 January 31, 2008. The
licensing fee agreement provided for a licensing fee for each plant of
$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 using Titan technology, upon reaching full
capacity.


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8 -





Titan
Technologies, Inc.
 Notes to
Financial Statements
 January
31, 2008
 (Unaudited)








On
December 12, 2007, the Company and Ally entered into a Second Amendment to
License Agreement that modified the original License Agreement in the following
respects:
  1. The Territory was expended from the four states to the entire United
States.
 
 2. The license fee of $1,600,000 and the royalty payment of 1.5% of all products
produced was amended to a Ten (10%) percent membership interest in each of the
single purpose entities formed to own and operate each plant beyond the first
plant (the second and each subsequent plant).
  3.   The
obligation to pay the initial license fee for the first plant of $1,600,000
remains unchanged, but the obligation to commence construction of the first
plant, as amended on February 23, 2007, to commence, on or before December 31,
2007, and be in operation, no later that December 31, 2008 was modified to
require that construction of the first plant commence when (i) government
agencies have granted construction approval and (ii) Ally has obtained financing
to build the first plant.
  4.  The
termination of the Exclusive License was  also modified to provide
that the exclusive license for the U.S. will terminate if Ally should fail to
commence to obtain a permit and prepare a feasibility study for the next plant
within twelve (12) months after the previous plan has reached full
capacity.
 
 Also on
December 12, 2007, the Registrant and Ally Investment entered into a Memorandum
of Understanding regarding Plastics Scrap, including but not limited to the
following terms:
 
 1.
              The
      grant of an exclusive license for Titan's Technology and patents for the
      recycling of scrap electronics throughout the United
    States.
 
 2.
              A
      license fee of $500,000 each to the Registrant and Adherent Technologies,
      upon Ally securing sufficient funding and government approvals to commence
      construction of the first plastics recycling
  plant.
 
 3.
              The
      grant to the Registrant of a Ten (10%) percent ownership in each entity
      established to own and operate a plastics recycling plant anywhere in the
      U.S.
 
 4.
              A
      research and development time table for testing a sample of constituent
      materials and development of a plastics recycling plant in the
      U.S.
 
 5.
              A
      commitment by Ally to fund and commence construction of the first plastics
      recycling plant in the U.S. within four years after delivery of the first
      sample of test material by Ally to
Titan.


Note
6.  Related Party Transactions
 
 In
December 2007, an employee advanced $5,000 to the Company.  The
advance was due on demand, non-interest bearing and was repaid in January
2008.
 
  Note
7.  Subsequent Events
 
 Subsequent
to January 31, 2008, a director acquired 300,000 shares of common stock for cash
proceeds of $36,000.
 
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9 -






ITEM
2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
OPERATION




Results of
Operations
 
 As a
result of activities by management, general and administrative expense decreased
$7,222 to $76,339 for the three months ended January 31, 2008 compared to the
three months ended January 31, 2007, primarily due to the decrease in legal and
accounting.
 
 As a
result of activities of management, outside services expense decreased $7,548 to
$4,281 for the six months ended January 31, 2008 compared to the six months
ended January 31, 2007.
 
 As a
result of activities by management, general and administrative expense increased
$3,235 to $140,458 for the six months ended January 31, 2008 compared
to the six months ended January 31, 2007, primarily due to the increase in legal
and accounting.
 
 As a
result of activities of management, outside services expense decreased $1,403 to
$4,281 for the three months ended January 31, 2008 compared to the three months
ended January 31, 2007.
 
 As a
result of activities of management, stock compensation expense decreased $24,309
to zero during the six months ended January 31, 2008 compared to the six months
ended January 31, 2007.
 
 Financial
Condition
 
 The
Company's liquidity increased in the six months ended January 31, 2008 as cash
increased $3,412 since July 31, 2007.  Operations used $138,082
compared to the same period of the prior year in which operations used
$37,219.  Proceeds from the sale of common stock were $141,494 during
the six months ended January 31, 2008 compared to $71,000 for the same period in
2007.
 
 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:
 
 Improve
marketing efforts for recycling plants and bring plastics recycling technology
and coal gasification to a marketable product.
 
 Reduce
operating and administrative expenses, and issue stock and notes payable, where
possible for payment of expenses.
 
 Defer payment of officer’s salaries, if required.


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10 -





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 raise 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 ensure 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 have
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 six months ended January 31, 2008, the Company sold common stock to
seventeen investors.  The following table illustrates the dates of the
transactions, the number of shares and the proceeds of the sale.
 
 
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11 -
 Date
                
                Shares Issued
                
                
                Cash Received9/04/07
                
                
                150,000
                
                
                $
                15,0009/24/07
                
                
                43,938
                
                
                
                4,39410/15/07
                
                
                6,000
                
                
                
                60010/17/07
                
                
                5,000
                
                
                
                50010/22/07
                
                
                40,000
                
                
                
                4,00010/25/07
                
                
                70,000
                
                
                
                7,00011/05/07
                
                
                250,000
                
                
                
                25,00012/03/07
                
                
                100,000
                
                
                
                10,00012/07/07
                
                
                70,000
                
                
                
                7,00012/12/07
                
                
                20,000
                
                
                
                2,00012/18/07
                
                
                25,000
                
                
                
                2,50012/14/07
                
                
                25,000
                
                
                
                2,50012/18/07
                
                
                250,000
                
                
                
                25,0001/14/08
                
                
                300,000
                
                
                
                36,0001,354,938
                
                
                $
                141,494
 
 
 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 carries 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





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12 -







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 theSecurities
      Exchange Act of 1934 as amended.





32Certification
      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
      the Sarbanes Oxley Act of 2002.







(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
      itemsreported, any financial
      statements files, and the dates of any such reports.




10.24  Second
      Amendment to License Agreement dated December 12, 2007, between the
      Registrant and Ally Investments, LLP, a Texas limited liability
      partnership
 
 10.25  Memorandum
      of Understanding related to Scrap Electronics dated December 12, 2007
      between the Registrant and Ally Investments, LLP a Texas limited liability
      partnership





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:   March 11, 2008
            By:
            /s/ Ronald L. WilderRonald
      L. Wilder, President, Chief Executive Officer, Chief
              Financial
      Officer and Chief Accounting Officer




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