*Table
        of Contents*







**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


Washington,
      D.C. 20549





**FORM
      10-Q**


(Mark
      One)





**x** QUARTERLY
      REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
      FOR THE QUARTERLY PERIOD ENDED **March 31, 2008**





**o** **** TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934. ****





**Commission
      File No.** **000-51783**





**Novint
      Technologies, Inc.**


(Exact
      name of small business issuer as specified in it charter)





**Delaware**
            
            85-0461778(State
                or other jurisdiction of incorporation or
            
            (IRS
                Employer Identificationorganization)
            
            No.)





**4601
      Paradise Boulevard NW, Suite B,**


**Albuquerque,
      New Mexico 87114**


(Address
      of principal executive offices)





**(866)
      298-4420**


(Registrant's
      telephone number, including area code)





Indicate
      by check mark whether the registrant (1) has filed all reports required to
      be
      filed by section 13 or 15 (d) of the Securities Exchange Act of 1934 during
      the
      preceding 12 months (or for such shorter period that the registrant was required
      to file such reports), and (2) has been subject to such filing requirements
      for
      the past 90 days. Yes x No o





Indicate
      by check mark whether the registrant is a large accelerated filer, an
      accelerated filer, a non-accelerated filer, or a smaller reporting company.
      See
      the definitions of “large accelerated filer,” “accelerated filer” and “smaller
      reporting company” in Rule 12b-2 of the Exchange Act. (Check one):


Large
      Accelerated filer o   Non-Accelerated
      Filer o


Accelerated
      Filer o   Smaller
      Reporting Company x





The
      registrant is a shell company (as defined by Rule 12b-2 of the Exchange
      Act). Yes o No x




APPLICABLE
      ONLY TO CORPORATE ISSUERS:





Indicate
      the number of shares outstanding of each issuer's classes of common stock,
      as of
      the latest practicable date: 31,936,619 issued and outstanding as of May
      12, 2008.












*Table
        of Contents*




**NOVINT
      TECHNOLOGIES, INC.**


TABLE
      OF
      CONTENTS


TO
      QUARTERLY REPORT ON FORM 10-Q


FOR
      PERIOD ENDED MARCH 31, 2008




**Page****PART
                I**
            **FINANCIAL
                INFORMATION**Item
                1.
            Financial
                Statements
            3Balance
                Sheets
            3Statements
                of Operations
            4Statements
                of Changes in Stockholders'
                Equity
            5Statements
                of Cash Flows
            6Notes
                to Financial Statements
            7Item
                2.
            Management's
                Discussion and Analysis of Financial Condition
                and Results of Operations
            14Item
                3.
            Quantitative
                and Qualitative Disclosures About Market
                Risk
            18Item
                4.
            Controls
                and Procedures
            18**PART
                II**
            **OTHER
                INFORMATION**Item
                1.
            Legal
                Proceedings
            18Item
                1A.
            Risk
                Factors
            19Item
                2.
            Unregistered
                Sales of Equity Securities and Use of
                Proceeds
            19Item
                3.
            Defaults
                Upon Senior Securities
            19Item
                4.
            Submission
                of Matters to a Vote of Security
                Holders
            19Item
                5.
            Other
                Information
            19Item
                6.
            Exhibits
            19**Signatures**
            24**Exhibits**





-
            2
            -
 *Table
            of Contents*




**PART
      I - FINANCIAL INFORMATION**





**ITEM
      1.****FINANCIAL
      STATEMENTS**




**Novint
                Technologies, Inc.****BALANCE
                SHEETS**




March
                31, 2008
            
            December
                31, 2007(Unaudited)**ASSETS**CURRENT
                ASSETS:Cash
                and cash equivalents
            
            $
            1,614,417
            
            $
            2,704,367Accounts
                receivable, net
            
            
            33,174
            
            
            80,724Prepaid
                expenses and other current assets
            
            
            672,565
            
            
            257,787Inventory
            
            
            958,247
            
            
            474,461Deposit
                on purchase of inventory
            
            
            605,107
            
            
            469,644Total
                current assets
            
            
            3,883,510
            
            
            3,986,983PROPERTY
                AND EQUIPMENT, NET
            
            
            497,089
            
            
            443,576DEFERRED
                FINANCING COSTS
            
            
            132,678
            
            
            —PREPAID
                EXPENSES - NET OF CURRENT PORTION
            
            
            628,385
            
            
            125,706SOFTWARE
                DEVELOPMENT COSTS, NET
            
            
            634,513
            
            
            644,308INTANGIBLE
                ASSETS, NET
            
            
            390,080
            
            
            405,299DEPOSITS
            
            
            16,224
            
            
            43,063Total
                assets
            
            $
            6,182,479
            
            $
            5,648,935**LIABILITIES
                AND STOCKHOLDERS' EQUITY**CURRENT
                LIABILITIES:Accounts
                payable
            
            $
            370,588
            
            $
            230,677Accrued
                payroll related liabilities
            
            
            153,286
            
            
            195,549Accrued
                expenses
            
            
            255,280
            
            
            238,060Accrued
                expenses - related parties
            
            
            22,812
            
            
            22,564Deferred
                revenue
            
            
            41,693
            
            
            44,966Total
                current liabilities
            
            
            843,659
            
            
            731,816LONG
                TERM LIABILITIES:Convertible
                notes payable, net of unamortized debtdiscount
                and financing cost of $2,025,000
            
            
            —
            
            
            —Total
                liabilities
            
            
            843,659
            
            
            731,816COMMITMENTS
                AND CONTINGENCIESSTOCKHOLDERS'
                EQUITY:Common
                stock, authorized 150,000,000 shares, $0.01par
                value; 31,906,619 and 31,898,955 shares issuedand
                outstanding, respectively
            
            
            319,067
            
            
            318,990Additional
                paid-in capital
            
            
            27,636,971
            
            
            25,348,138Accumulated
                deficit
            
            
            (22,612,613
            )
            
            (20,745,404
            )Accumulated
                other comprehensive loss
            
            
            (4,605
            )
            
            (4,605
            )Total
                stockholders' equity
            
            
            5,338,820
            
            
            4,917,119Total
                liabilities and stockholders' equity
            
            $
            6,182,479
            
            $
            5,648,935


The
        accompanying notes are an integral part of these financial
        statements.


-
          3
          -
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          of Contents*




**Novint
                      Technologies, Inc.****STATEMENTS
                      OF
                      OPERATIONS**
  For
                      the Three Months EndedMarch
                      31, 2008
                  
                  March
                      31, 2007(Unaudited)
                  
                  (Unaudited)Revenue:Project
                  
                  $
                  27,579
                  
                  $
                  128,731Product
                  
                  
                  44,250
                  
                  
                  —Total
                      revenue
                  
                  
                  71,829
                  
                  
                  128,731Cost
                      of goods sold:Project
                  
                  
                  21,187
                  
                  
                  107,481Product
                  
                  
                  58,883
                  
                  
                  —Total
                      cost of goods sold
                  
                  
                  80,070
                  
                  
                  107,481Gross
                      profit
                  
                  
                  (8,241
                  )
                  
                  21,250Operating
                      expensesResearch
                      and development
                  
                  
                  313,526
                  
                  
                  235,570General
                      and administrative
                  
                  
                  1,328,201
                  
                  
                  1,495,206Depreciation
                      and amortization
                  
                  
                  99,147
                  
                  
                  41,188Sales
                      and marketing
                  
                  
                  131,849
                  
                  
                  149,436Total
                      operating expenses
                  
                  
                  1,872,723
                  
                  
                  1,921,400Loss
                      from operations
                  
                  
                  (1,880,964
                  )
                  
                  (1,900,150
                  )Other
                      (income) expenseInterest
                      income
                  
                  
                  (12,252
                  )
                  
                  (27,635
                  )Interest
                      expense
                  
                  
                  704
                  
                  
                  143,684Other
                      (income) expense
                  
                  
                  (2,207
                  )
                  
                  —Net
                      other expenses
                  
                  
                  (13,755
                  )
                  
                  116,049Net
                      loss
                  
                  $
                  (1,867,209
                  )
                  $
                  (2,016,199
                  )Loss
                      per share, basic and diluted:Net
                      loss
                  
                  $
                  (0.06
                  )
                  $
                  (0.09
                  )Weighted-average
                      common shares outstanding,basic
                      and diluted
                  
                  
                  31,902,829
                  
                  
                  23,352,495
 The
            accompanying notes are an integral part of these financial
            statements.
  -
                4
                -
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                of Contents*
  **Novint
                          Technologies, Inc.****STATEMENT
                          OF CHANGES IN STOCKHOLDERS’
                          EQUITY****For
                          the Three Months Ended March 31,
                          2008**
  AccumulatedAdditional
                      
                      
                      
                      OtherCommon
                          Stock
                      
                      Paid-in
                      
                      Accumulated
                      
                      ComprehensiveShares
                      
                      Amount
                      
                      Capital
                      
                      (Deficit)
                      
                      Loss
                      
                      TotalBalances,
                          December 31, 2007
                      
                      
                      31,898,955
                      
                      $
                      318,990
                      
                      $
                      25,348,138
                      
                      $
                      (20,745,404
                      )
                      $
                      (4,605
                      )
                      $
                      4,917,119Common
                          stock issued for services
                      
                      
                      7,664
                      
                      
                      77
                      
                      
                      7,123
                      
                      
                      —
                      
                      
                      —
                      
                      
                      7,200Options
                          vested for employees services
                      
                      
                      —
                      
                      
                      —
                      
                      
                      122,139
                      
                      
                      —
                      
                      
                      —
                      
                      
                      122,139Options
                          vested to consultants for services
                      
                      
                      —
                      
                      
                      —
                      
                      
                      134,571
                      
                      
                      —
                      
                      
                      —
                      
                      
                      134,571Debt
                          discount and financing cost relatedto
                          convertible notes
                      
                      
                      —
                      
                      
                      —
                      
                      
                      2,025,000
                      
                      
                      —
                      
                      
                      —
                      
                      
                      2,025,000Net
                          loss
                      
                      
                      —
                      
                      
                      —
                      
                      
                      
                      
                      
                      (1,867,209
                      )
                      
                      —
                      
                      
                      (1,867,209
                      )Balances,
                          March 31, 2008 (Unaudited)
                      
                      
                      31,906,619
                      
                      $
                      319,067
                      
                      $
                      27,636,971
                      
                      $
                      (22,612,613
                      )
                      $
                      (4,605
                      )
                      $
                      5,338,820
 
 -
                    5
                    -
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                    of Contents*


**Novint
                    Technologies, Inc.****STATEMENTS
                    OF CASH FLOWS**
  For
                    the Three Months EndedMarch
                    31,
                
                March
                    31,2008
                
                2007(Unaudited)
                
                (Unaudited)Cash
                    flows from operating activities:Net
                    loss
                
                $
                (1,867,209
                )
                $
                (2,016,199
                )Adjustments
                    to reconcile net loss to net cash provided by (used in)operating
                    activitiesDepreciation
                    and amortization
                
                
                99,147
                
                
                41,188Common
                    stock issued for services
                
                
                7,200
                
                
                351,001Options
                    issued to employees and consultant for services
                
                
                256,710
                
                
                393,113Changes
                    in operating assets and liabilities:Accounts
                    receivable
                
                
                47,550
                
                
                (75,417
                )Prepaid
                    expenses
                
                
                (414,778
                )
                
                31,365Inventory
                
                
                (483,786
                )
                
                —Deposit
                    on purchase of inventory
                
                
                (135,463
                )
                
                —Prepaid
                    expenses
                
                
                (502,679
                )
                
                —Deposits
                
                
                26,839
                
                
                —Accounts
                    payable and accrued liabilities
                
                
                42,190
                
                
                195,421Accrued
                    expenses related party
                
                
                248
                
                
                35,494Costs
                    and estimated earnings in excess of billings on contracts,
                    net
                
                
                —
                
                
                (48,675
                )Deferred
                    revenues
                
                
                (3,273
                )
                
                31,507Billings
                    in excess of costs and estimated earnings on contracts,
                    net
                
                
                —
                
                
                2,668Net
                    cash (used in) operating activities
                
                
                (2,927,304
                )
                
                (1,058,534
                )Cash
                    flows from (to) investing activities:Intangible
                    expenditures
                
                
                (22,539
                )
                
                —Capital
                    outlay for software development costs
                
                
                (27,424
                )
                
                (15,639
                )Property
                    and equipment purchases
                
                
                (77,683
                )
                
                —Net
                    cash (used in) investing activities
                
                
                (127,646
                )
                
                (15,639
                )Cash
                    flows from (to) financing activities:Proceeds
                    from exercise of options
                
                
                —
                
                
                57,636Proceeds
                    from issuance of common stock
                
                
                —
                
                
                9,500,000Offering
                    costs
                
                
                (60,000
                )
                
                (370,010
                )Proceeds
                    from convertible notes payable
                
                
                2,025,000
                
                
                —Net
                    cash provided by financing activities
                
                
                1,965,000
                
                
                9,187,626Net
                    increase (decrease) in cash and cash equivalents
                
                
                (1,089,950
                )
                
                8,113,453Cash
                    and cash equivalents at beginning of period
                
                
                2,704,367
                
                
                255,468Cash
                    and cash equivalents at end of period
                
                $
                1,614,417
                
                $
                8,368,921Supplemental
                    information:Interest
                    paid
                
                $
                —
                
                $
                —Income
                    taxes paid
                
                $
                —
                
                $
                —Non-cash
                    investing and financing activities:Debt
                    discount and deferred financing cost related to convertible
                    notespayable
                    recorded against paid-in capital
                
                $
                2,025,000
                
                $
                —Payment
                    of offering costs with 60,000 warrants
                
                $
                41,728
                
                $
                —Deferred
                    financing cost recognize and netted against paid-in
                    capital
                
                $
                —
                
                $
                54,354Purchase
                    of licenses with common stock
                
                $
                —
                
                $
                10,001Payment
                    of notes payable and accrued interest with common stock
                
                $
                —
                
                $
                358,081Payment
                    of accrued liabilities with common stock
                
                $
                —
                
                $
                74,000Receivable
                    related to stock options exercised
                
                $
                —
                
                $
                75,000
 The
          accompanying notes are an integral part of these financial
          statements.
  -
              6
              -
 *Table
              of Contents*
  **Novint
          Technologies, Inc.**
  **NOTES
            TO FINANCIAL STATEMENTS**
  **MARCH
            31, 2008 and 2007**
 **(Unaudited)**
 
 **NOTE
            1 — BASIS OF PRESENTATION AND NATURE OF BUSINESS**
 
 **Basis
            of Presentation**
 
 The
            unaudited financial statements have been prepared by Novint Technologies,
            Inc.
            (the “Company” or “Novint”), in accordance with generally accepted accounting
            principles for interim financial information and with the instructions
            for Form
            10-Q and Regulation S-X as promulgated by the Securities and Exchange
            Commission (“SEC”). Accordingly, these financial statements do not include all
            of the disclosures required by generally accepted accounting principles
            in the
            United States of America for complete financial statements. These unaudited
            interim financial statements should be read in conjunction with the audited
            financial statements and the notes thereto included on Form 10-KSB for
            the
            period ended December 31, 2007. In the opinion of management, the unaudited
            interim financial statements furnished herein include all adjustments,
            all of
            which are of a normal recurring nature, necessary for a fair statement
            of the
            results for the interim period presented. The results of the three months
            ended
            March 31, 2008 are not necessarily indicative of the results to be expected
            for
            the full year ending December 31, 2008.
 
 **Reclassifications**
 
 Certain
            prior year amounts were reclassified to conform to the March 31, 2008
            presentation.
 
 **Nature
            of Business**
 
 Novint
            Technologies, Inc. (the “Company” or “Novint”) is a Delaware corporation. The
            Company currently is engaged in the development and sale of 3D haptics
            products
            and equipment. Haptics refers to one’s sense of touch. The Company’s focus is in
            the consumer interactive computer gaming market, but the Company also
            does
            project work in other areas. The Company’s operations are based in New Mexico
            with sales of its haptics products primarily to consumers through the
            Company’s
            website at www.novint.com and retail outlets.
 
 **Management’s
            Plans**
 
 As
            of
            March 31, 2008, the Company had total current assets of $3,883,510 and
            total
            current liabilities of $843,659, resulting in a working capital surplus
            of
            $3,039,851. As of March 31, 2008, the Company had cash totaling $1,614,417.
            During the three months ended March 31, 2008 as further discussed in
            Note 4, the
            Company raised approximately $2,025,000 from the issuance of convertible
            notes
            and warrants through a subscription agreement with a maximum offering
            amount of
            $3,750,000. In April 2008 and May 2008, the Company  closed
            an
            additional $1,725,000 and $703,280, respectively, of debt securities.
            The
            Company believes that it has sufficient capital to sustain its operations
            for
            twelve months; however, it will require additional working capital in
            order to
            fully execute on its business plans with respect to the haptics technology
            and
            the further development of the Novint Falcon and related software and
            accessories.
  **NOTE
            2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**
  **Software
            Development Costs**
 
 The
            Company accounts for its software development costs in accordance with
            Statement
            of Financial Accounting Standards (SFAS) Number 86, Accounting for the
            Costs of
            Computer Software to be Sold, Leased, or Otherwise Marketed. This statement
            requires that, once technological feasibility of a developing product
            has been
            established, all subsequent costs incurred in developing that product
            to a
            commercially acceptable level be capitalized and amortized ratably over
            the
            estimated life of the product, which is generally 5 years. The Company
            has
            capitalized software development costs in connection with its haptics
            technology
            beginning in 2000. Amortization is computed on the straight-line basis
            over the
            estimated life (5 years) of the haptics technology. As of March 31, 2008,
            the
            Company’s capitalized software development costs totaled $634,513 (net of
            $227,694 of accumulated amortization). The estimated annual amortization
            expense
            related to the capitalized software development cost is
            approximately
  -
                7
                -
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                of Contents*
  $155,000
            per year. Amortization expense related to software development costs
            for the
            three months ended March 31, 2008 and 2007 totaled $37,758 and $15,813,
            respectively.
 
 The
            Company follows Statement of Position (SOP) No. 98-1, Accounting for
            the Costs
            of Computer Software Developed or Obtained for Internal Use, which requires
            capitalization of certain costs incurred during the development of internal
            use
            software. Through March 31, 2008, capitalizable costs incurred have not
            been
            significant for any development projects. Accordingly, the Company has
            charged
            all related costs to research and development expense in the periods
            incurred.
 
 **Property
            and Equipment**
 
 Property
            and equipment is stated at cost. Depreciation on property and equipment
            is
            calculated on a straight-line depreciation method over the estimated
            useful
            lives of the assets, which range from 3 to 5 years for software and
            computer equipment, 2-5 years for leasehold improvements based upon the
            life of
            the lease and 5 years for office equipment. Repairs and maintenance costs
            are expensed as incurred. Depreciation expense was $24,170 and $6,416
            for the
            three months ended March 31, 2008 and 2007, respectively.
 
 **Intangible
            Assets**
 
 Intangible
            assets consist of licensing agreements of $711,125 and patents of $40,706,
            and
            are carried at cost less accumulated amortization of $361,751. Amortization
            is
            computed using the straight-line method over the economic life of the
            assets,
            which range between 3 and 12 years. For the three months ended March
            31, 2008
            and 2007, the Company recognized amortization expense of approximately
            $37,219
            and $18,959, respectively, related to intangible assets.
 
 Annual
            amortization of intangible assets remaining at March 31, 2008, is as
            follows:
 
 Year
                      Ended December 31,2008
                  
                  $
                  131,9752009
                  
                  
                  171,1652010
                  
                  
                  81,5652011
                  
                  
                  4,7502012
                      and after
                  
                  
                  625Total
                  
                  $
                  390,080
 
 **Revenue
            and Cost Recognition**
 
 The
            Company recognizes revenue from the sale of software products under the
            provisions of SOP 97-2, Software Revenue Recognition, as amended by SOP
            98-4 and
            SOP 98-9. SOP 97-2 generally requires that revenue recognized from software
            arrangements be allocated to each element of the arrangement based on
            the
            relative vendor specific objective evidence of fair values of the elements,
            such
            as software products, upgrades, enhancements, post contract customer
            support,
            installation or training. Under SOP 97-2, if the determination of vendor
            specific objective evidence of fair value for each element of the arrangement
            does not exist, all revenue from the arrangement is deferred until such
            time
            that evidence does exist or until all elements of the arrangement are
            delivered.
 
 SOP
            97-2
            was amended in December 1998 by SOP 98-9, Modification of SOP 97-2 Software
            Revenue Recognition with Respect to Certain Transactions. SOP 98-9 clarified
            what constitutes vendor specific objective evidence of fair value and
            introduced
            the concept of the “residual method” for allocating revenue to elements in a
            multiple element arrangement.
 
 The
            Company’s revenue recognition policy is as follows:
 
 Project
            revenue consists of programming and demonstration services provided to
            unrelated
            parties under fixed-price contracts. Revenues from fixed price programming
            contracts are recognized in accordance with SOP 81-1, Accounting for
            Performance
            of Construction-Type and Certain Production-Type Contracts, and Accounting
            Research Bulletin (ARB) 45, Long-Term Construction-Type Contracts, using
            the
            percentage-of-completion method, measured by the percentage of costs
            incurred to
            date compared with the total estimated costs for each contract. The Company
            accounts for these measurements in the accompanying balance sheets under
            costs
            and estimated earnings in excess of billings on contracts, and billings
            in
            excess of costs and estimated earnings on contracts. Provisions for estimated
            losses on uncompleted contracts are made and recorded in the period in
            which the
            loss is identified. As of March 31, 2008 the Company did not have any
            costs and
            estimated earnings in excess of billings on contracts or any
  -
                8
                -
 *Table
                of Contents*
  billings
            in excess of costs and estimated earnings on contracts. All contracts
            were 100%
            complete as of March 31, 2008.
 
 Revenue
            from product sales relates to the sale of the Falcon haptics interface,
            which is
            a human-computer user interface (the “Falcon”) and related accessories. The
            Falcon allows the user to experience the sense of touch when using a
            computer,
            while holding its interchangeable handle. The Falcons are manufactured
            by an
            unrelated party. Revenue from the product sales is recognized when the
            products
            are shipped to the customer and the Company has earned the right to receive
            and
            retain reasonable assured payments for the products sold and delivered.
            Consequently, if all these revenue from product sales requirements are
            not met,
            such sales will be recorded as deferred revenue until such time as all
            revenue
            recognition requirements are met.
 
 As
            of
            March 31, 2008, the Company had recorded $41,693 of deferred revenue,
            which
            represents fees received for product and project revenues that have not
            met all
            revenue recognition requirements.
 
 Emerging
            Issues Task Force (EITF) 00-10, Accounting for Shipping and Handling Fees
            and Costs, require amounts billed to a customer in a sales transaction
            related
            to shipping and handling, if any, to be classified and accounted for
            as revenues
            earned for the goods provided whereas shipping and handling costs incurred
            by a
            company are required to be classified as cost of sales. The Company’s costs
            associated with shipping product items to the Company’s customers are included
            in the Company’s Cost of Goods Sold, which for the three months ended March 31,
            2008 and 2007 approximated $8,140 and $0, respectively.
 
 Arrangements
            made with certain customers, including slotting fees and co-operative
            advertising, are accounted for in accordance with EITF No. 01-9, Accounting
            for
            Consideration Given by a Vendor to a Customer (Including a Reseller of
            the
            Vendor's Products). These incentives are recognized as a reduction in
            revenue or
            as a selling, general, and administrative expense, respectively, when
            payment is
            made to a customer (or at the time the Company has incurred the obligation,
            if
            earlier) unless the Company receives a benefit over a period of time
            and the
            Company meets certain other criteria, such as retailer performance,
            recoverability and enforceability, in which case the incentive is recorded
            as an
            asset and is amortized as a reduction of revenue over the term of the
            arrangement.
 
 EITF
            01-14, Income Statement Characterization of Reimbursements Received for
            “Out-of-Pocket” Expenses Incurred, requires reimbursements received for
            out-of-pocket expenses incurred while providing services to be characterized
            in
            the statements of operations as revenue. The Company’s out-of-pocket expenses
            incurred in connection with their project revenues are recognized in
            revenues
            based on a computed overhead rate that is included in their project labor
            costs
            to derive a project price.
 
 In
            accordance with EITF 99-19, Reporting Revenue Gross as a Principal versus
            Net as
            an Agent, the Company recognizes its product sales on a gross basis.
            The Company
            is responsible for fulfillment, including the acceptability of the product
            ordered. The Company has risks and rewards of ownership such as the risk
            of loss
            for collection, delivery or returns. Title passes to the customer upon
            receipt
            of the product by the customer. In accordance with the Company’s agreement with
            its customer, further obligation is limited to the terms defined in its
            warranty.
 
 The
            Company’s customers are provided a one (1) year limited warranty on the Falcon.
            This warranty guarantees that the products shall be free from defects
            in
            material and workmanship. Additionally, the Company offers its customers
            of the
            Falcon a 30 day money back guarantee. The Company continually evaluates
            its
            reserve accounts for both the limited warranty and 30 day money back
            guarantee
            based on its historical activities. As of March 31, 2008, the Company
            has
            recorded $8,190 as warranty and money back guarantee reserves.
 
 **Loss
            per Common Share**
 
 Statement
            of Financial Accounting Standards No. 128 *,
            Earnings per Share* ,
            (SFAS
            128) provides for the calculation of “Basic” and “Diluted” earnings per share.
            Basic earnings per share includes no dilution and is computed by dividing
            net
            income (loss) available to common shareholders by the weighted average
            number of
            common shares outstanding for the period. All potentially dilutive securities
            have been excluded from the computations since they would be antidilutive.
            However, these dilutive securities could potentially dilute earnings
            per share
            in the future. As of March 31, 2008 and 2007, the Company had a total
            of
            14,270,736 and
            26,245,724 in potentially dilutive securities, respectively.
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 **Stock-Based
            Compensation**
  The
            Company adopted SFAS No. 123 (Revised 2004), Share Based Payment (“SFAS
            No. 123R”), under the modified-prospective transition method on
            January 1, 2006. SFAS No. 123R requires companies to measure and
            recognize the cost of employee services received in exchange for an award
            of
            equity instruments based on the grant-date fair value. Share-based compensation
            recognized under the modified-prospective transition method of SFAS
            No. 123R includes share-based compensation based on the grant-date fair
            value determined in accordance with the original provisions of SFAS
            No. 123, Accounting for Stock-Based Compensation, for all share-based
            payments granted prior to and not yet vested as of January 1, 2006 and
            share-based compensation based on the grant-date fair-value determined
            in
            accordance with SFAS No. 123R for all share-based payments granted after
            January 1, 2006.
 
 The
            Company recognized $122,139 and $393,113 in employee share-based compensation
            expense for the three months ended March 31, 2008 and 2007, respectively.
            The
            fair value of the stock options was estimated using the Black-Scholes
            option
            pricing model. In calculating the fair value of options for stock based
            compensation for the three months ended March 31, 2008, the following
            assumptions were used: closing price of the common stock at the date
            of grant,
            risk-free rates ranged from 5.00% to 5.25%, volatility of the options
            ranged
            from 73% to 157%, estimated lives of 3 to 10 years and exercise prices
            ranged
            from $0.66 to $1.20 per share.
 
 **Research
            and Development**
 
 Research
            and development costs are expensed as incurred and amounted to $313,526
            and
            $235,570 for the three months ended March 31, 2008 and 2007, respectively.
 
 **Recently
            Issued Accounting Pronouncements**
 
 The
            Company has adopted all recently issued accounting pronouncements. The
            adoption
            of the accounting pronouncements, including those not yet effective,
            is not
            anticipated to have a material effect on the financial position or results
            of
            operations of the Company.
 
 
 **NOTE
            3 — INTANGIBLE ASSETS**
 
 Intangible
            assets consisted of the following at March 31, 2008:
 Licensing
                      agreements
                  
                  $
                  711,125Patent
                  
                  
                  40,706Less
                      accumulated amortization
                  
                  
                  (361,751
                  )$
                  390,080
  **NOTE
            4- CONVERTIBLE NOTES PAYABLE**
 
 On
            March
            31, 2008, the Company closed on a $2,025,000 private placement of debt
            securities under Regulation D promulgated under the Securities Act of 1933
            pursuant to the terms of a subscription agreement among the Company and
            the
            subscribers’ signatory thereto (the "Subscription Agreement"). In April 2008,
            the Company closed an additional $1,725,000 for an aggregate Subscription
            Agreement amount of $3,750,000 as discussed in Note 9 for additional
            discussion.  Each Subscriber acquired an unsecured convertible note in the
            principal amount invested and a warrant to purchase shares of the Company’s
            common stock with an exercise price of $1.00 per share.  In each case, the
            number of shares of common stock underlying the warrant equals the principal
            amount of the unsecured convertible note. Each warrant is exercisable
            for a term
            of five (5) years.  The unsecured convertible notes have a three (3) year
            maturity, require payment of principal and interest in full on the maturity
            date, and accrue interest at a rate of seven percent (7%) beginning on the
            first anniversary of their respective dates of issuance. At the option
            of the
            holder, principal outstanding under a note may be converted into common
            stock at the conversion rate then in effect, initially $1.00 per share.
            Upon conversion, the holder will receive common stock at the conversion
            price of
            $1.00 per share and additional warrants to purchase shares of common
            stock at an
            exercise price of $1.50 per share.  The number of shares of common stock
            underlying the additional warrants shall equal one-half (1/2) the principal
            and
            interest amounts converted.  The additional warrants shall be exercisable
            for a term of five (5) years.  Certain existing shareholders of the Company
            are entitled to purchase notes and warrants under the terms of the Subscription
            Agreement and the Company was required to create a second offering of
            these
            notes and warrants. The
            Company has recorded $132,678 as deferred financing costs associated
            with the
            closing that occurred on March 31, 2008. This amount represents $31,400
            accrued
            for legal expenses associated with the private placement, $60,000 paid
            to an
            investment banking company and $41,278 for the value of warrants to purchase
            60,000 shares of the Company’s
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                10
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  common
            stock at $1.00 per share for 5 years owed to the same investment banking
            company. These amounts will be amortized to interest expense over the
            term of
            the notes.
 
 The
            Company has determined the convertible debenture contains a beneficial
            conversion feature and qualifies for treatment under Emerging Issues
            Task Force
            No. 00-27. The estimated fair value of the detachable warrants of $1,398,766
            has
            been determined using Black-Scholes option pricing model using the following
            assumptions: stock price volatility of 124%, risk free interest rate
            of 3.77%;
            dividend yield of 0% and 3 year term. The face amount of the convertible
            debenture of $2,025,000 was proportionately allocated to the debenture
            and the
            warrants in the amount of $1,197,694 and $827,306, respectively. The
            convertible
            debenture's proportionate allocated value of $1,197,694 was then further
            allocated between the debenture and the beneficial conversion feature,
            and the
            entire remaining value of $1,197,694 was allocated to the beneficial
            conversion
            feature. The combined total value of the warrant and beneficial conversion
            feature of $2,025,000 has been accounted for as a debt discount that
            is being
            amortized and treated as interest expense over the term of the convertible
            debenture under the effective interest method.
  **NOTE
            5 — COMMITMENTS AND CONTINGENCIES**
 
 From
            time
            to time, in the normal course of business, the Company is subject to
            routine
            litigation incidental to its business. Although there can be no assurances
            as to
            the ultimate disposition of any such matters, it is the opinion of management,
            based upon the information available at this time, that there are no
            matters,
            individually or in the aggregate, that will have a material adverse effect
            on
            the results of operations and financial condition of the Company.
 
 **NOTE
            6 — STOCKHOLDERS’ EQUITY**
 
 Sale
            of Common Stock and Warrant
 
 During
            January 2007, the Company sold 500,000 shares of common stock and warrants
            for
            500,000 shares of common stock to 8 investors for a total of $500,000.
            The
            warrants have an exercise price of $1.00 per share and life of five
            years.
 
 Unit
            Subscription Agreement
 
 On
            March 5, 2007, the Company entered into a Unit Subscription Agreement (the
            “Agreement”) with 42 accredited investors (the “Purchasers”) pursuant to which
            the Company issued and sold $9,000,000 of Units, at a price of one dollar
            per
            Unit. Each Unit consists of one share of common stock, and one five-year
            warrant
            to purchase one share of common stock at an exercise price of $1.50.
            Accordingly, an aggregate of 9,000,000 shares of its common stock, and
            warrants
            to purchase 9,000,000 shares of common stock were issued (the “Financing”). The
            Financing closed on March 5, 2007. Under the terms of the Unit Subscription
            Agreement the Company may sell an additional 1,000,000 Units for $1,000,000
            to a
            strategic investor, of which the Company closed on the sale of 580,000
            units for
            $580,000 on May 11, 2007. Gross proceeds from the Financing to the Company
            were
            $9,000,000, of which $320,010 was paid to certain individuals who served
            as
            placement agents for the transaction and approximately $50,000 was paid
            to
            counsel for the Purchasers in connection with the transaction. In addition,
            the
            Company had netted a previously capitalized deferred offering cost totaling
            $54,354 towards the gross proceeds from the Financing. The
            Company granted warrants to purchase 320,000 shares of common stock with
            an
            exercise price of $1.50 to certain individuals who served as placement
            agents in
            the financing and options to purchase 173,419 shares of common stock
            with an
            exercise price of $1.00 to AF Double Eagle upon the closing of the Financing.
            These warrants and options have been accounted for as related offering
            costs. Mr. Tom
            Anderson, the Company’s Chief Executive Officer, invested $25,000 in the
            Financing.
 
 As
            part
            of the terms of the Agreement, the Company entered into an Investor Rights
            Agreement among the Purchasers pursuant to which the Company has agreed
            to file
            a registration statement to register for resale of the shares of common
            stock
            sold in the Financing, including the shares of common stock underlying
            the
            warrants, within 55 days following the closing of the Financing. Subject to
            certain exceptions, in the event the registration statement is not filed
            within
            such 55 day period or does not become effective within certain time periods
            set forth in the Investor Rights Agreement, the Company would be required
            to pay
            each purchaser in the Financing an amount in cash equal to 0.0333% of
            the sum of
            (i) the purchase amount paid by the Purchaser and (ii) the amount paid
            upon exercise of the warrants for each day the filing or effectiveness
            of the
            registration statement is delayed and, pursuant to the terms of the warrants,
            the Purchasers would be entitled to exercise their warrants pursuant
            to a
            cashless
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                11
                -
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  exercise
            formula. In addition, the Company has agreed not to grant any registration
            rights that are senior to the registration rights of the Purchasers for
            a period
            of two years from the closing date without the prior written consent
            of a
            majority of the Purchasers. The Company filed a Form SB-2 registration
            statement
            as required by the Agreement on May 24, 2007 and it became effective
            on June 19,
            2007 within the required timeline of the Agreement.
 
 **NOTE
            7 — RELATED PARTIES**
 
 On
            February 18, 2004, the Company granted to a significant shareholder,
            for future
            services, 125,000 options to purchase common stock at an exercise price
            of $0.66
            per share. The options have a 5-year annual vesting provision. Options
            granted
            to consultants are valued each reporting period to determine the amount
            to be
            recorded as consultant expense in the respective period. As the options
            vest,
            they will be valued one last time on the vesting date and an adjustment
            will be
            recorded for the difference between the value already recorded and the
            current
            value on date of vesting. At March 31, 2008, the Company calculated the
            value of
            the options using the Black-Scholes model based on the following assumptions:
            a
            risk-free rate of 5.00%, volatility of 124%, estimated life of 10 years
            and a
            fair market value of $0.99 per share. At March 31, 2004, the Company
            calculated
            the initial value of the options using the Black-Scholes model based
            on the
            following assumptions: a risk-free rate of 4.05%, volatility of 91%,
            estimated
            life of 10 years and a fair market value of $1.00 per share. The vesting
            schedule is prorated over the reporting period, and $4,890 and $13,809,
            respectively, was recorded as consultant expense during the three months
            ended
            March 31, 2008 and 2007.
 
 In
            March
            2004, Normandie New Mexico Corporation, which is owned by the former
            Chief
            Executive Officer (CEO) of Manhattan Scientific (a significant shareholder)
            who
            is also a member of the Company’s Board of Directors, entered into an agreement
            with the Company to provide consulting services in relation to business
            development and marketing support. Fees per the agreement are $6,250
            per month.
            For the three months ended March 31, 2008 and 2007, the Company had paid $25,000
            and $-0-, respectively, for these services. As of March 31, 2008 and
            2007, the
            Company owed $-0- and $90,625 to Normandie New Mexico under the
            agreement.
 
 On
            June
            10, 2004, the Company granted 250,000 options to purchase common stock
            to one of
            the member of the Company’s Board of Directors for future consulting services at
            an exercise price of $0.66 per share. The options have a 5-year annual
            vesting
            provision. At June 30, 2004, the Company calculated the initial value
            of these
            options using the Black-Scholes model based on the following assumptions:
            a
            risk-free rate of 4.81%, volatility of 100%, estimated life of 10 years
            and a
            fair market value of $1.00 per share. At March 31, 2008, the Company
            calculated
            the value of the options using the Black-Scholes model based on the following
            assumptions: a risk-free rate of 5.00%, volatility of 124%, estimated
            life of 10
            years and a fair market value of $0.99 per share. The vesting schedule
            is
            prorated over the reporting period, and approximately $14,000 and $26,000,
            respectively, was recorded as consulting expense during the three months
            ended
            March 31, 2008 and 2007.
 
 One
            of
            the members of the Company’s Board of Directors provided legal services to
            Company. Total legal expense incurred by the Company for such legal services
            by
            this director totaled $32,829 and $22,086 for the quarters ended March
            31, 2008
            and 2007, respectively. At the beginning of 2008, the Company granted
            this board
            member options to purchase 100,000 shares of common stock with an exercise
            price
            of $.89 per share for service performed and to be performed in relation
            to the
            Company’s patents. As of March 31, 2008, 5,667 options had vested and the
            Company recorded $3,840 in expense related to these vested options.
 
 **NOTE
            8 - COMMITMENTS AND CONTINGENCIES**
 
 The
            Company has licensing agreements with various parties providing gaming
            software.
            These licensing agreements have royalty provisions which require royalty
            fees
            ranging from 5% to 50% of either gross revenue or net revenue and one
            licensing
            agreement has a royalty provision of $0.50 per end user. Royalty fees
            paid or accrued for the three months ended March 31, 2008 and 2007 related
            to
            these licensing agreements approximated $984,507 and $0, respectively,
            of which
            $1,256,769 remains as prepaid expenses as of March 31, 2007.
  **NOTE
            9 - SUBSEQUENT EVENTS**
 
 As
            discussed in Note 4, the Company closed an additional $1,725,000 of debt
            securities for an aggregate total of $3,750,000.
 -
                  12
                  -
 *Table
                  of Contents*
 
 In
            May
            2008, the Company closed on a $703,280 private placement of debt securities
            under Regulation D promulgated under the Securities Act of 1933 pursuant to
            the terms of a subscription agreement among the Company and the subscribers
            signatory thereto.  Each Subscriber acquired an unsecured convertible note
            in the principal amount invested and a warrant to purchase shares of
            the
            Company’s common stock with an exercise price of $1.00 per share.  In each
            case, the number of shares of common stock underlying the warrant equals
            the
            principal amount of the unsecured convertible note. Each warrant is exercisable
            for a term of five (5) years.  The unsecured convertible notes have a three
            (3) year maturity, require payment of principal and interest in full
            on the
            maturity date, and accrue interest at a rate of seven percent
            (7%) beginning on the first anniversary of their respective dates of
            issuance. At the option of the holder, principal outstanding under a
            note may be
            converted into common stock at the conversion rate then in effect,
            initially $1.00 per share. Upon conversion, the holder will receive common
            stock
            at the conversion price of $1.00 per share and additional warrants to
            purchase
            shares of common stock at an exercise price of $1.50 per share.  The number
            of shares of common stock underlying the additional warrants shall equal
            one-half (1/2) the principal and interest amounts converted.  The
            additional warrants shall be exercisable for a term of five (5) years. In
            connection with this private placement, the Company notified investors
            who had
            participated in a prior offering of their right to participate in this
            private
            placement on the same terms and conditions as the Purchasers. These investors
            may participate in this private placement by providing written notice
            to the
            Company by May 15, 2008 of their intent to participate. As of the date
            of this
            Report, one of these investors has provided such notice to the
            Company.
 
 Subsequent
            to March 31, 2008, the Company issued 30,000 shares of common stock for
            payment
            of $30,000 in royalties, granted 1,000 options to an employee and granted
            5,000
            fully vested warrants to a consultant.


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**ITEM
      2.****MANAGEMENT’S
      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.**





**Forward
      Looking Statements**





*Certain
      statements in the Management’s Discussion and Analysis (“MD&A”), other than
      purely historical information, including estimates, projections, statements
      relating to our business plans, objectives and expected operating results,
      and
      the assumptions upon which those statements are based, are “forward-looking
      statements” within the meaning of the Private Securities Litigation Reform Act
      of 1995, Section 27A of the Securities Act of 1933 and Section 21E of
      the Securities Exchange Act of 1934. These forward-looking statements generally
      are identified by the words “believe,” “project,” “expect,” “anticipate,”
“estimate,” “intend,” “strategy,” “plan,” “may,” “should,” “will,” “would,”
“will be,” “will continue,” “will likely result,” and similar expressions.
      Forward-looking statements are based on current expectations and assumptions
      that are subject to risks and uncertainties which may cause actual results
      to
      differ materially from the forward-looking statements. A detailed discussion
      of
      risks and uncertainties that could cause actual results and events to differ
      materially from such forward-looking statements is included in the section
      under
“Risk Factors”. We undertake no obligation to update or revise publicly any
      forward-looking statements, whether as a result of new information, future
      events, or otherwise.*




*As
      used in this Form 10-Q, unless the context requires otherwise, “we” or “us” or
      the “Company” or “Novint” means Novint Technologies, Inc.*




**ITEM
        6.** **MANAGEMENT’S
        DISCUSSION AND ANALYSIS AND PLAN OF OPERATION**
  *Statements
        included in this management’s discussion and analysis of financial condition and
        results of operations, and in future filings by the Company with the SEC,
        in the
        Company’s press releases and in oral statements made with the approval of an
        authorized executive officer which are not historical or current facts are
        “forward-looking statements” and are subject to certain risks and uncertainties
        that could cause actual results to differ materially from historical earnings
        and those presently anticipated or projected. You are cautioned not to place
        undue reliance on any such forward-looking statements, which speak only as
        of
        the date made. The following important factors, among others, in some cases
        have
        affected and in the future could affect the Company’s actual results and could
        cause the Company’s actual financial performance to differ materially from that
        expressed in any forward-looking statement: (i) the extremely competitive
        conditions that currently exist in the market for companies similar to the
        Company and (ii) lack of resources to maintain the Company’s good standing
        status and requisite filings with the SEC. The foregoing list should not
        be
        construed as exhaustive and the Company disclaims any obligation subsequently
        to
        revise any forward-looking statements to reflect events or circumstances
        after
        the date of such statements or to reflect the occurrence of anticipated or
        unanticipated events. The following discussion should be read in conjunction
        with our financial statements and their explanatory notes included as part
        of
        this annual report.*
  **OVERVIEW**
 
 We
        were
        initially incorporated in the State of New Mexico as Novint Technologies,
        Inc.
        in April 1999. On February 26, 2002, we changed our state of incorporation
        to
        Delaware by merging into Novint Technologies, Inc., a Delaware corporation.
        We
        have no subsidiaries and operate our business under Novint Technologies,
        Inc. We
        are a haptics technology company (haptics refers to your sense of touch).
        We
        develop, market and sell applications and technologies that allow people
        to use
        their sense of touch to interact with computers.
 
 We
        have
        derived revenues from 3D touch hardware sales, 3D touch software sales, and
        the
        development of professional applications for our customers. We launched our
        Falcon product in June 2007, and are selling it in our on-line store and
        in a
        number of retailers and other websites. We launched an on-line game store
        in
        November 2007. We also have completed a number of professional application
        contracts with customers who desire custom developed software.
 
 Novint
        focuses the majority of its efforts to exploit opportunities in the consumer
        console and PC interactive games market. Using our haptics technology, games
        and
        applications will have the crucial missing “third sense”, touch, to human
        computer interaction. Users will be able to directly and intuitively feel
        the
        shape, texture, and physical properties of virtual objects using our computer
        touch software. Our haptic technology and related hardware for consumers
        is now
        the primary focus of our operations whereas in the past it had been professional
        applications. We will devote a majority of our resources to further developing
        this market and seeking new business relationships with video game developers
        and publishers and hardware manufacturers. We began selling our haptic product,
        the Novint Falcon, in June 2007 through our website at www.novint.com. We
        currently are selling one haptic hardware product which is a haptic game
        controller device called the Novint Falcon marketed in a bundled package
        which
        includes several games. We launched an on-line game store in late 2007, where
        consumers can purchase and download a variety of game titles. Although our
        sales
        of the Novint Falcon and games since product launch have been limited, we
        anticipate sales of the Novint Falcon and games to increase resulting from
        increased sales and distributions to retailers and release of new software
        and
        games in 2008.
 
 **CRITICAL
        ACCOUNTING POLICIES AND ESTIMATES**
 
 High-quality
        financial statements require rigorous application of accounting policies.
        Our
        policies are discussed in our financial statements for the quarter ended
        March
        31, 2008 and are considered by management to be critical for an understanding
        of
        our financial statements because their application places
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  the
        most
        significant demands on management’s judgment, with financial reporting results
        relying on estimation about the effect of matters that are inherently uncertain.
        We review the accounting policies we use in reporting our financial results
        on a
        regular basis. As part of such review, we assess how changes in our business
        processes and products may affect how we account for transactions. We have
        not
        changed our critical accounting policies or practices during 2008. New
        accounting policies and practice were implemented in 2007 as necessary based
        on
        the launch of our haptics product sales in June 2007.
 
 REVENUE
        AND COST RECOGNITION — We recognize revenue from the sale of software products
        under the provisions of Statement of Position (“SOP”) 97-2, Software Revenue
        Recognition, as amended by SOP 98-4 and SOP 98-9. SOP 97-2 generally requires
        that revenue recognized from software arrangements be allocated to each element
        of the arrangement based on the relative vendor specific objective evidence
        of
        fair values of the elements, such as software products, upgrades, enhancements,
        post contract customer support, installation, or training. Under SOP 97-2,
        if
        the determination of vendor specific objective evidence of fair value for
        each
        element of the arrangement does not exist, all revenue from the arrangement
        is
        deferred until such time that evidence does exist or until all elements of
        the
        arrangement are delivered.
 
 SOP
        97-2
        was amended in December 1998 by SOP 98-9, Modification of SOP 97-2 Software
        Revenue Recognition with Respect to Certain Transactions. SOP 98-9 clarified
        what constitutes vendor specific objective evidence of fair value and introduced
        the concept of the “residual method” for allocating revenue to elements in a
        multiple element arrangement.
 
 Our
        revenue recognition policy is as follows:
  Project
        revenue consists of programming services provided to unrelated parties under
        fixed-price contracts. Revenues from fixed price programming contracts are
        recognized in accordance with SOP 81-1, Accounting for Performance of
        Construction-Type and Certain Production-Type Contracts, and Accounting Research
        Bulletin 45, Long-Term Construction-Type Contracts, using the
        percentage-of-completion method, measured by the percentage of costs incurred
        to
        date compared with the total estimated costs for each contract. The Company
        accounts for these measurements in the accompanying balance sheets under
        costs
        and estimated earnings in excess of billings on contracts, and billings in
        excess of costs and estimated earnings on contracts. Provisions for estimated
        losses on uncompleted contracts are made and recorded in the period in which
        the
        loss is identified. As of March 31, 2008, the Company did not have any costs
        and
        estimated earnings in excess of billings on contracts, and no billings in
        excess
        of costs and estimated earnings on contracts. All contracts were 100% complete
        as of March 31, 2008.
 
 Revenue
        from product sales relates to the sale of the Falcon haptics interface, which
        is
        a human-computer user interface (the “Falcon”). The Falcon allows the user to
        experience sensory information when using a computer and its handle and is
        the
        approximate size and shape of a racquetball. The Falcons are manufactured
        by an
        unrelated party. Revenue from the product sales are recognized when the products
        are shipped to the customer and thereby have earned the right to receive
        and
        retain reasonable assured payments for the products sold and delivered.
        Consequently, if all these revenue from product sales requirements are not
        met,
        such sales will be recorded as deferred revenue until such time all revenue
        recognition requirements are met. As of March 31, 2008, the Company had recorded
        $41,693 of deferred revenue.
 
 Emerging
        Issues Task Force (“EITF”) 00-10, Accounting for Shipping and Handling Fees
        and Costs, requires amounts billed to a customer in a sales transaction related
        to shipping and handling, if any, to be classified and accounted for as revenues
        earned for the goods provided whereas shipping and handling costs incurred
        by a
        company are required to be classified as cost of sales. The Company’s costs
        associated with shipping product items to the Company’s customers are included
        in the Company’s Cost of Goods Sold, which for the quarters ended March 31, 2008
        and 2007 approximated $8,140 and $-0-, respectively.
 
 Arrangements
        made with certain customers, including slotting fees and co-operative
        advertising, are accounted for in accordance with EITF No. 01-9, Accounting
        for
        Consideration Given by a Vendor to a
  -
            15
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            of Contents*
  Customer
        (Including a Reseller of the Vendor's Products). These incentives are recognized
        as a reduction in revenue or as a selling, general, and administrative expense,
        respectively, when payment is made to a customer (or at the time the Company
        has
        incurred the obligation, if earlier) unless the Company receives a benefit
        over
        a period of time and the Company meets certain other criteria, such as retailer
        performance, recoverability and enforceability, in which case the incentive
        is
        recorded as an asset and is amortized as a reduction of revenue over the
        term of
        the arrangement.
 
 EITF
        01-14, Income Statement Characterization of Reimbursements Received for
“Out-of-Pocket” Expenses Incurred, requires reimbursements received for
        out-of-pocket expenses incurred while providing services to be characterized
        in
        the statements of operations as revenue. The Company’s out-of-pocket expenses
        incurred in connection with their project revenues are recognized in revenues
        based on a computed overhead rate that is included in their project labor
        costs
        to derive a project price.
 
 In
        accordance with EITF 99-19, Reporting Revenue Gross as a Principal versus
        Net as
        an Agent, the Company recognizes its product sales on a gross basis. The Company
        is responsible for fulfillment, including the acceptability of the product
        ordered. The Company has risks and rewards of ownership such as the risk
        of loss
        for collection, delivery or returns. Title passes to the customer upon receipt
        of the product by the customer. In accordance with the Company’s agreement with
        its customer, further obligation is limited to the terms defined in its
        warranty.
 
 The
        Company’s customers are provided a one (1) year limited warranty on the Falcon
        haptics interface product. This warranty guarantees that the products shall
        be
        free from defects in material and workmanship.  Additionally,
        the Company offers its customers of the Falcon a 30 day money back guarantee.
        The Company continually evaluates its reserve accounts for both the limited
        warranty and 30 day money back guarantee based on its historical activities.
        As
        of March 31, 2008, the Company has accrued $8,190 as warranty and money back
        guarantee reserve.
 
 IMPAIRMENT
        — In accordance with Statement of Financial Accounting (“SFAS”) 144, Accounting
        for the Impairment or Disposal of Long-Lived Assets, we review our long-lived
        assets for impairment whenever events or changes in circumstances indicate
        that
        the carrying amount of an asset may not be recoverable. Recoverability of
        assets
        to be held and used is measured by a comparison of the carrying amount of
        an
        asset to future net cash flows expected to be generated by the asset. If
        such
        assets are considered to be impaired, the impairment to be recognized is
        measured by the amount by which the carrying amount of the assets exceeds
        the
        fair value of the assets. Assets to be disposed of are reported at the lower
        of
        the carrying amount or fair value less costs to sell.
 
 SOFTWARE
        DEVELOPMENT COSTS — We account for our software development costs in accordance
        with SFAS 86, Accounting for the Costs of Computer Software to be Sold, Leased,
        or Otherwise Marketed. This statement requires that, once technological
        feasibility of a developing product has been established, all subsequent
        costs
        incurred in developing that product to a commercially acceptable level be
        capitalized and amortized ratably over the estimated life of the product,
        which
        is 5 years. We have capitalized software development costs in connection
        with
        our haptic software beginning in 2000. Amortization is computed on the
        straight-line basis over the estimated life (5 years) of the haptics
        technology.
 
 STOCK
        BASED COMPENSATION - We account for stock based compensation in accordance
        with
        SFAS 123(R), Share-Based Payment, which requires the measurement and recognition
        of compensation expense for all share-based payment awards made to employees
        and
        directors, including employee stock options and employee stock purchases,
        related to a Employee Stock Purchase Plan based on the estimated fair values.
        We
        have used stock option awards in the past and continue to use them as a means
        of
        rewarding our employees and directors for their continued commitment and
        efforts
        in helping us execute our overall business plans.
  -
            16
            -
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  **RESULTS
        OF OPERATIONS**
  THREE
        MONTHS ENDED MARCH 31, 2008 COMPARED TO THE THREE MONTHS ENDED MARCH 31,
        2007.
 
 REVENUES.
        During the quarter ended March 31, 2008, we had revenues of $71,829 as compared
        to revenues of $128,731 during the quarter ended March 31, 2007, a decrease
        of
        approximately 44%. In the first quarter of 2007, all of our revenues were
        derived from the development of professional applications; however in 2008
        our
        revenues were mainly derived from consumer products, which is a much different
        focus. Given that the revenues were from different types of business activities,
        a comparison between them has limited meaning.
 
 During
        2006, we redirected much of our attention in the development and completion
        of
        our haptics technology and hardware platforms for consumers. Our haptics
        game
        controller device was launched in June 2007, and our on-line game store was
        launched in November 2007. As a result, our revenues in the first quarter
        of
        2008 were derived from both projects and sales of our haptics products. During
        the quarter ended March 31, 2008, our revenues were derived from the
        refurbishment of hardware and development and demonstration of professional
        applications for customers totaling $27,579, and the sale of our haptics
        technology products totaling $44,250. We will continue to provide development
        of
        professional applications in future years.
 
 COST
        OF
        GOODS SOLD AND GROSS PROFIT (LOSS). Cost of goods sold for our haptics
        technology products includes the cost of the haptics technology products
        sold
        and the costs associated with shipping product to customers. The cost of
        goods
        sold for our development of professional applications includes materials
        purchased for resale to customers and the direct labor incurred for delivering
        on projects. Costs of goods sold were $80,070 for the quarter ended March
        31,
        2008, compared to $107,481 for the quarter ended March 31, 2007. In the first
        quarter of 2007, our revenues were only derived from development of professional
        applications, and in June 2007 we launched the sales of our haptics technology
        products. Our overall gross loss percentage was approximately (11) % for
        the
        quarter ended March 31, 2008, which is a result of our gross profit from
        our
        development of professional applications approximately 23%, and gross loss
        from
        the sale of our haptics technology product approximated (33) %, compared
        to a
        gross profit percentage of 17% for the quarter ended March 31, 2007, which
        consisted only of gross profit from our development of professional
        applications. Our gross profit from the development of professional applications
        has remained consistent from year to year. Our gross loss experienced from
        the
        sale of our haptics technology product was impacted by efforts to drive market
        penetration— freight
        costs to meet the demands of product distribution ,
        costs
        to place product into major retail chains, third-party warehousing costs,
        and
        lower pricing for retailer and distributors. Many of these costs will be
        improved as our processes are worked out.
 
 RESEARCH
        AND DEVELOPMENT EXPENSES. Research and development totaled $313,526 for the
        quarter ended March 31, 2008 compared to $235,570 for the quarter ended March
        31, 2007, an increase of $77,956 or 33%. Our research and development for
        2008
        increased as we continue to develop new software associated with the haptics
        technology product, as well as specialized grips for use with the
        product.
 
 GENERAL
        AND ADMINISTRATIVE EXPENSES. General and administrative expenses totaled
        $1,328,201 for the quarter ended March 31, 2008, compared to $1,495,206 for
        the
        quarter ended March 31, 2007, a decrease of $167,005 or 11%. The decrease
        in
        general and administrative expenses compared to the prior year was primarily
        related to the stabilization of the business following the launch of the
        product
        in June 2007. Business and professional fees decreased approximately $522,000,
        and payroll and other overhead expenses increased approximately $355,000
        as new
        employees and other expenses were added to expand the business. We anticipate
        such expenses to continue to slightly increase, only as we add the necessary
        organization for the business.
 
 DEPRECIATION
        AND AMORTIZATION EXPENSE. Depreciation and amortization expense totaled $99,147
        for the quarter ended March 31, 2008 compared to $41,188 for the quarter
        ended
        March 31, 2007, an increase of $57,959 or 141%. This has increased as we
        have
        increased our investment in fixed assets, intangibles, and capitalized
        software.
  -
            17
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 SALES
        AND
        MARKETING EXPENSE. Sales and marketing expense totaled $131,849 for the quarter
        ended March 31, 2008 compared to $149,436 for the quarter ended March 31,
        2007,
        a decrease of $17,587 or 12%. In 2007, we had programs focused on the launch
        of
        the Falcon, which occurred in June 2007, and in 2008 expenses continued for
        website development, trade show expenses and an “Evangelist Program” to
        encourage early adopters to tell others about the product. Promotional efforts
        will continue in 2008 with print advertising, trade shows, branding, and
        promotion through the website.
  LOSS
        FROM
        OPERATIONS: We had a loss from operations of $1,880,964 for the quarter ended
        March 31, 2008, compared to a loss from operations of $1,900,150 for the
        quarter
        ended March 31, 2007. Our net losses have decreased slightly as a result
        the
        changes in our operating expenses as described above.
 
 NET
        LOSS.
        We had a net loss of $1,867,209, or $0.06 per share, for the quarter ended
        March
        31, 2008, compared to $2,016,199, or $0.09 per share, for the quarter ended
        March 31, 2007. There was a decrease in the net loss of 148,990, which is
        a
        result of a decrease in the loss from operations of approximately $20,000,
        a
        decrease in interest income of approximately $15,000, and a decrease in interest
        expense of $143,000.
 
 **LIQUIDITY
        AND CAPITAL RESOURCES**
  As
        of
        March 31, 2008, we had a total cash balance of $1,614,417. Our cash flow
        from
        operating activities for the quarter ended March 31, 2008 resulted in a deficit
        of $2,927,304 compared with a deficit of $1,058,534 in the same period of
        the
        prior year. Our cash flow from investing activities for the quarter ended
        March
        31, 2008 resulted in a deficit of $127,646 compared with a deficit of $15,639
        in
        the same period of the prior year. Our cash flow from financing activities
        for
        the quarter ended March 31, 2008 resulted in a surplus of $1,965,000 compared
        to
        a surplus of $9,187,626 in the same period of the prior year. Overall, our
        cash
        decreased by $1,089,950 during the three months ended March 31, 2008.
 
 As
        of
        March 31, 2008, the Company had total current assets of $3,883,510 and total
        current liabilities of $843,659, resulting in a working capital surplus of
        $3,039,851. As of March 31, 2008, the Company had cash totaling $1,614,417.
        During the three months ended March 31, 2008, the Company raised approximately
        $2,025,000 from the issuance of convertible notes and warrants through a
        subscription agreement with a maximum offering amount of $3,750,000. In April
        2008 and May 2008, the Company  closed
        an
        additional $1,725,000 and $703,280, respectively, of debt securities. The
        Company believes that it has sufficient capital to sustain its operations
        for
        twelve months; however, it will require additional working capital in order
        to
        fully execute on its business plans with respect to the haptics technology
        and
        the further development of the Novint Falcon and related software and
        accessories.


**ITEM
      3.****QUANTITATIVE
      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**





Not
      Applicable.





**ITEM
      4.****CONTROLS
      AND PROCEDURES.**





**Disclosure
      Controls and Procedures**





As
      of the
      end of the period covered by this quarterly report, we carried out an
      evaluation, under the supervision of, and with the participation of our
      management, including our Chief Executive Officer and Chief Financial Officer,
      of the effectiveness of the Company’s disclosure controls and procedures (as
      defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act
      of 1934, as amended) as of the end of the period covered by this report. Based
      on that evaluation, our Chief Executive Officer and Chief Financial Officer
      have
      concluded that, as of the end of the period covered by this report, our
      disclosure controls and procedures were effective to enable us to record,
      process, summarize and report information required to be included in our reports
      that we file or submit under the Exchange Act within the time periods required.





**Changes
      in Internal Control over Financial Reporting**





There
      were no changes in our internal control over financial reporting (as defined
      in
      Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as
      amended) during the quarter ended March 31, 2008 that have materially
      affected, or are reasonably likely to materially affect our internal control
      over financial reporting.




**PART
      II - OTHER INFORMATION**





**ITEM
      1.****LEGAL
      PROCEEDINGS**





We
      know
      of no material, existing or pending legal proceedings against us, nor are we
      involved as a plaintiff in any material proceeding or pending litigation. There
      are no proceedings in which any of our directors, officers or affiliates, or
      any
      registered or beneficial stockholder, is an adverse party or has a material
      interest adverse to our company.


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**ITEM
      1A.****RISK
      FACTORS**





Not
      applicable.




**ITEM
      2.****UNREGISTERED
      SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**





In
      January 2008, we issued 6,664 shares of common stock to Ralph Anderson in
      payment for services rendered on our audit committee. We relied upon the
      exemption from registration as set forth in Section 4(2) of the Securities
      Act for the issuance of these shares. The shareholder took the shares for
      investment purposes without a view to distribution and had access to information
      concerning Novint and our business prospects, as required by the Securities
      Act.
      In addition, there was no general solicitation or advertising for the issuance
      of the shares. The shareholder was permitted access to our management for the
      purpose of acquiring investment information. Due to the shareholder’s status on
      our audit committee and his dealings with companies similar to ours, we deem
      the
      shareholder sophisticated for the purposes of Section 4(2) of the
      Securities Act.





In
      January 2008, we issued 1,000 shares of common stock to Karen Rosolowski in
      payment for services rendered as our outside accountant. We relied upon the
      exemption from registration as set forth in Section 4(2) of the Securities
      Act for the issuance of these shares. The shareholder took the shares for
      investment purposes without a view to distribution and had access to information
      concerning Novint and our business prospects, as required by the Securities
      Act.
      In addition, there was no general solicitation or advertising for the issuance
      of the shares. The shareholder was permitted access to our management for the
      purpose of acquiring investment information. Due to the shareholder’s status as
      our outside accountant and her dealings with companies similar to ours, we
      deem
      the shareholder sophisticated for the purposes of Section 4(2) of the
      Securities Act.





**ITEM
      3.****DEFAULTS
      UPON SENIOR SECURITIES**





None.





**ITEM
      4.****SUBMISSION
      OF MATTERS TO A VOTE OF SECURITY HOLDERS**





None.





**ITEM
      5.****OTHER
      INFORMATION**




(a)
            None.




(b)
            There
                were no changes to the procedures by which security holders may recommend
                nominees to our board of directors.





**ITEM
      6.****EXHIBITS**




**EXHIBIT
      INDEX**





**Number**
            
            **Description**3.1
                (9)
            
            Amend
                and Restated Certificate of Incorporation3.2
                (6)
            
            Amended
                and Restated Bylaws3.3
                (1)
            
            Articles
                of Merger3.4
                (1)
            
            Certificate
                of Merger4.1
                (1)
            
            Articles
                of Incorporation (See Exhibit 3.1)4.2
                (3)
            
            Form
                of Common Stock Purchase Warrant, April
                2006




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4.3
                (7)
            
            Form
                of Common Stock Purchase Warrant, March 20074.4
                (13)
            
            Form
                of Note, April 20084.5
                (13)
            
            Form
                of Common Stock Purchase Warrant, April 20084.6
                (14)
            
            Form
                of Note, May 20084.7
                (14)
            
            Form
                of Common Stock Purchase Warrant, May 200810.1
                (1)
            
            License
                Agreement with Sandia; Amendments10.2
                (1)
            
            Lease
                for 9620 San Mateo10.3
                (1)
            
            Employment
                Agreement with Tom Anderson10.4
                (1)
            
            Employment
                Agreement with Walter Aviles10.5
                (10)
            
            Amended
                and Restated 2004 Stock Incentive Plan10.6
                (1)
            
            Shareholders
                Agreement10.7
                (1)
            
            Lock
                Up Agreement10.8
                (1)
            
            Miscellaneous
                Technical Services Agreement between Aramco Services Company and
                Novint
                Technologies, Inc.10.9
                (1)
            
            Contract
                Addendum between Aramco Services Company and Novint Technologies,
                Inc.10.10
                (1)
            
            Amendment
                to Contract between Aramco Services Company and Novint Technologies,
                Inc.10.11
                (1)
            
            Amendment
                to Contract between Aramco Services Company and Novint Technologies,
                Inc.10.12
                (1)
            
            Statement
                of Work between Chevron Corporation and Novint Technologies,
                Inc.10.13
                (1)
            
            Purchase
                Order from DaimlerChrylser Corporation10.14
                (1)
            
            Purchase
                Order # 94059 from LockheedMartin Corporation10.15
                (1)
            
            Purchase
                Order # 96996 from LockheedMartin Corporation10.16
                (1)
            
            Purchase
                Order # 97860 from LockheedMartin Corporation10.17
                (1)
            
            Purchase
                Order # Q50601685 from LockheedMartin Corporation10.18
                (1)
            
            Purchase
                Order # QQ060592 from LockheedMartin Corporation10.19
                (1)
            
            Purchase
                Order # Q50608809 from LockheedMartin
                Corporation




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          of Contents*




10.20
                (1)
            
            Purchase
                Order # 24232 from Sandia National Laboratories10.21
                (1)
            
            Purchase
                Order # 27467 from Sandia National Laboratories10.22
                (1)
            
            Purchase
                Order # 117339 from Sandia National
                Laboratories




10.23
                (1)
            
            Purchase
                Order # 250810 from Sandia National Laboratories10.24
                (1)
            
            Undersea
                Exploration Modeling Agreement between Woods Hole Oceanographic Institute
                and Novint Technologies, Inc.10.25
                (1)
            
            Purchase
                Order for Lunar Design, Inc. dated April 7, 200510.26
                (1)
            
            Sublicense
                Agreement between Manhattan Scientifics and Novint Technologies,
                Inc.10.27
                (1)
            
            License
                and Royalty Agreement between Manhattan Scientifics and Novint
                Technologies, Inc.10.28
                (1)
            
            Research
                Development and License Agreement between Manhattan Scientifics and
                Novint
                Technologies, Inc.10.29
                (1)
            
            Intellectual
                Property License Agreement with Force Dimension LLC10.30
                (1)
            
            Purchase
                Order with Lockheed Martin dated April 1, 200510.31
                (1)
            
            Purchase
                Order with Lockheed Martin dated April 4, 200510.32
                (1)
            
            Purchase
                Order with Lockheed Martin dated April 21, 200510.33
                (1)
            
            Purchase
                Order with Deakin University dated April 6, 200410.34
                (1)
            
            Purchase
                Order with Robarts Research dated September 24, 200410.35
                (1)
            
            Purchase
                Order with University of New Mexico dated March 16,
                200410.36
                (1)
            
            Amendment
                to Agreement with Force Dimension Dated May 5, 200510.37
                (1)
            
            Amendment
                to contract between Aramco Services Company and Novint Technologies,
                Inc.10.38
                (2)
            
            Purchase
                Order with Lockheed Martin dated February 16, 200610.39
                (2)
            
            Amendment
                to Intellectual Property License Agreement with Force Dimension LLC
                dated
                March 9, 200610.40
                (2)
            
            Purchase
                Order with Lockheed Martin dated March 3, 200610.41
                (3)
            
            Form
                of Subscription Agreement for Securities, April 2006.10.42
                (4)
            
            Board
                of Directors Agreement between V. Gerald Grafe and Novint Technologies,
                Inc.10.44
                (5)
            
            Manufacturing
                Agreement dated December 19, 2006 by and between Novint Technologies,
                Inc.
                and VTech Communications Ltd.




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10.45
                (5)
            
            Novint
                Purchase Order 1056. (Portions of this exhibit have been omitted
                pursuant
                to a request for confidential treatment.)10.46
                (7)
            
            Form
                of Unit Subscription Agreement, March 200710.47
                (7)
            
            Form
                of Investor Rights Agreement, March 200710.48
                (8)
            
            Amendment
                No. 1 to Unit Subscription Agreement dated March 2,
                200710.49
                (8)
            
            Amendment
                No. 2 to Unit Subscription Agreement dated March 30,
                200710.50
                (8)
            
            Amendment
                No. 1 to Investor Rights Agreement dated March 30, 200710.51
                (10)
            
            Purchase
                Order with The Falk Group, LLC dated January 16, 200710.52
                (11)
            
            Tournabout
                Intellectual Property Acquisition Agreement dated July 17,
                200710.53
                (12)
            
            Lease
                Agreement dated May 29, 200710.54
                (12)
            
            Lease
                Agreement dated June 21, 200710.55
                (13)
            
            Form
                of Subscription Agreement, April 200810.56
                (14)
            
            Form
                of Subscription Agreement, May 2008




14
                (2)
            
            Code
                of Ethics31
            
            Certification
                Pursuant To Section 302 Of The Sarbanes-Oxley Act Of 2002 — Chief
                Executive Officer and Chief Financial Officer32
            
            Certification
                Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section
                906 Of
                The Sarbanes-Oxley Act Of 2002 — Chief Executive Officer and Chief
                Financial Officer





(1)
            
            Filed
                with the Issuer’s Registration Statement on Form SB-2 on May 17, 2004, and
                as subsequently amended, and incorporated herein by
                reference.(2)
            
            Filed
                with the Issuer’s Annual Report on Form 10-KSB, filed with the Commission
                on April 17, 2006, and incorporated herein by
                reference.(3)
            
            Filed
                with the Issuer’s Periodic Report on Form 10-QSB, filed with the
                Commission on May 22, 2006, and incorporated herein by
                reference.(4)
            
            Filed
                with the Issuer’s Current Report on Form 8-K, filed with the Commission on
                September 22, 2006, and incorporated herein by
                reference.(5)
            
            Filed
                with the Issuer’s Current Report on Form 8-K, filed with the Commission on
                December 20, 2006, and incorporated herein by
                reference.(6)
            
            Filed
                with the Issuer’s Current Report on Form 8-K, filed with the Commission on
                March 1, 2007.




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(7)
            
            Filed
                with the Issuer’s Current Report on Form 8-K, filed with the Commission on
                March 9, 2007.(8)
            
            Filed
                with the Issuer’s Periodic Report on Form 10-QSB, filed with the
                Commission on May 15, 2007.(9)
            
            Filed
                with the Issuer’s Current Report on Form 8-K, filed with the Commission on
                June 21, 2007.(10)
            
            Filed
                with the Issuer’s Registration Statement on Form SB-2 on May 24,
                2007.(11)
            
            Filed
                with the Issuer’s Current Report on Form 8-K, filed with the Commission on
                July 23, 2007.(12)
            
            Filed
                with the Issuer’s Registration Statement on Form SB-2 on July 27,
                2007.(13)
            
            Filed
                with the Issuer’s Current Report on Form 8-K, filed with the Commission on
                April 15, 2008.(14)
            
            Filed
                with the Issuer’s Current Report on Form 8-K, filed with the Commission on
                May 12, 2008.




All
      other
      exhibits are filed herewith.


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            of Contents*


**SIGNATURES**





In
      accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934,
      as
      amended, the registrant caused this report to be signed on its behalf by the
      undersigned, thereunto duly authorized.




**NOVINT
                TECHNOLOGIES, INC.**(Registrant)Date:
                May 15, 2008
            By:
            /s/
                Tom AndersonTom
                AndersonChief
                Executive Officer


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      -