UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


Washington,
      D.C. 20549


Form
      10-QSB





(Mark
      One)





x
            QUARTERLY
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE
                ACT OF 1934





For
      the
      nine months ended September 30, 2007





□
            TRANSITION
                REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE
                ACT





For
      the
      transition period from __________ to __________





Commission
      File Number 000-50655





Madison
      Avenue Holdings Inc.


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




Delaware
            20-0823997(State
                or other jurisdiction of
                incorporation or organization)
            (I.R.S.
                Employer Identification
                No.)





428
      South Atlantic Blvd., Suite 328, Monterey Park, CA 91754


(Address
      of Principal Executive Offices)





(626)-5764333


(Issuer's
      telephone number)









(Former
      name, former address and former fiscal year, if changed since last
      report)





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





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




APPLICABLE
      ONLY TO ISSUERS INVOLVED IN BANKRUPTCY


PROCEEDINGS
      DURING THE PRECEDING FIVE YEARS





Check
      whether the registrant filed all documents and reports required to be filed
      by
      Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities
      under a plan confirmed by a court.


Yes x No o





APPLICABLE
      ONLY TO CORPORATE ISSUERS





State
      the
      number of shares outstanding of each of the issuer's classes of common equity,
      as of the latest practicable date: there were 500,000 shares outstanding as
      of
      September 30, 2007.





Transitional
      Small Business Disclosure Format (check one); Yes o No x








PART
      I -
      FINANCIAL INFORMATION





ITEM
      1.
      FINANCIAL STATEMENTS





**MADISON
      AVENUE HOLDINGS INC.**


**(A
        Development Stage Company)**
 **Index
        to Financial Statements**
 
 
 PageFinancial Statements:Balance Sheets as of September 30,
                2007
                (Unaudited) and
                December 31, 2006
              
              F-2Statements of Operations for the three
                and
                nine months ended
                September 30, 2007 and 2006 and for the periodFebruary
                27, 2004 (date of inception) to September 30,2007
                (Unaudited)
              
              F-3Statements of Cash Flows for the nine
                months
                ended September
                30, 2007 and 2006 and for the periodFebruary
                27, 2004 (date of inception) to September 30,2007
                (Unaudited)
              
              F-4Notes to Financial Statements
                (Unaudited)
              
              F-5
  F-1
 
 **MADISON
            AVENUE HOLDINGS INC.**
 **(A
            Development Stage Company)**
 **Balance
            Sheets**
  **September
                      30,**
                  
                  **December
                      31,****2007**
                  
                  **2006****(Unaudited)****Assets**Current
                      assets:Cash
                      and cash equivalents
                  
                  $
                  -
                  
                  $
                  -Total
                      current assets
                  
                  
                  -
                  
                  
                  -Other
                      assets
                  
                  
                  -
                  
                  
                  -Total
                      assets
                  
                  $
                  -
                  
                  $
                  -**Liabilities
                      and Stockholder's Equity (Deficiency)**Current
                      liabilities:Accounts
                      payable and accrued expenses
                  
                  $
                  3,661
                  
                  $
                  2,816Total
                      current liabilities
                  
                  
                  3,661
                  
                  
                  2,816Other
                      liabilities
                  
                  
                  -
                  
                  
                  -Total
                      liabilities
                  
                  
                  3,661
                  
                  
                  2,816Commitments
                      and contingenciesStockholder's
                      equity (deficiency):Common
                      stock, $.001 par value; 10,000,000 sharesauthorized,
                      500,000 shares issued and outstanding
                  
                  
                  500
                  
                  
                  500Additional
                      paid-in capital
                  
                  
                  43,035
                  
                  
                  26,052Deficit
                      accumulated during the development stage
                  
                  
                  (47,196
                  )
                  
                  (29,368
                  )Total
                      stockholder's equity (deficiency)
                  
                  
                  (3,661
                  )
                  
                  (2,816
                  )Total
                      liabilities and stockholder's equity (deficiency)
                  
                  $
                  -
                  
                  $
                  -
  See
            notes to financial statements.
  F-2
 **MADISON
            AVENUE HOLDINGS INC.**
 **(A
            Development Stage Company)**
 **Statements
            of Operations**
 **(Unaudited)**
  **Cumulative****During
                      the****Development****Stage****Three
                      Months**
                  
                  **Three
                      Months**
                  
                  **Nine
                      Months**
                  
                  **Nine
                      Months**
                  
                  **(February
                      27,****Ended**
                  
                  **Ended**
                  
                  **Ended**
                  
                  **Ended**
                  
                  **2004
                      to****September
                      30, 2007**
                  
                  **September
                      30, 2006**
                  
                  **September
                      30, 2007**
                  
                  **September
                      30, 2006**
                  
                  **September
                      30, 2007)**Revenues
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -Expenses:General
                      and administrative
                  
                  
                  2,018
                  
                  
                  2,356
                  
                  
                  17,828
                  
                  
                  9,242
                  
                  
                  47,196Total
                      expenses
                  
                  
                  2,018
                  
                  
                  2,356
                  
                  
                  17,828
                  
                  
                  9,242
                  
                  
                  47,196Net
                      loss
                  
                  $
                  (2,018
                  )
                  $
                  (2,356
                  )
                  $
                  (17,828
                  )
                  $
                  (9,242
                  )
                  $
                  (47,196
                  )Net
                      loss per share, basic and diluted
                  
                  $
                  (0.00
                  )
                  $
                  (0.00
                  )
                  $
                  (0.04
                  )
                  $
                  (0.02
                  )Weighted
                      average number of commonshares
                      outstanding, basic and diluted
                  
                  
                  500,000
                  
                  
                  500,000
                  
                  
                  500,000
                  
                  
                  500,000
  See
            notes to financial statements.
  F-3
 **MADISON
            AVENUE HOLDINGS INC.**
 **(A
            Development Stage Company)**
 **Statements
            of Cash Flows**
 **(Unaudited)**
  **Cumulative****During
                      the****Development****Stage****Nine
                      Months**
                  
                  **Nine
                      Months**
                  
                  **(February
                      27,****Ended**
                  
                  **Ended**
                  
                  **2004
                      to****September
                      30, 2007**
                  
                  **September
                      30, 2006**
                  
                  **September
                      30, 2007)**Cash
                      flows from operating activities:Net
                      loss
                  
                  $
                  (17,828
                  )
                  $
                  (9,242
                  )
                  $
                  (47,196
                  )Changes
                      in operating assets and liabilities:Accounts
                      payable and accrued expenses
                  
                  
                  845
                  
                  
                  (1,166
                  )
                  
                  3,661Net
                      cash used in operating activities
                  
                  
                  (16,983
                  )
                  
                  (10,408
                  )
                  
                  (43,535
                  )Cash
                      flows from investing activities
                  
                  
                  -
                  
                  
                  -
                  
                  
                  -Cash
                      flows from financing activities:Proceeds
                      from sale of common stock
                  
                  
                  -
                  
                  
                  -
                  
                  
                  500Capital
                      contributions
                  
                  
                  16,983
                  
                  
                  9,766
                  
                  
                  43,035Net
                      cash provided by financing activities
                  
                  
                  16,983
                  
                  
                  9,766
                  
                  
                  43,535Net
                      increase (decrease) in cash
                  
                  
                  -
                  
                  
                  (642
                  )
                  
                  -Cash
                      and cash equivalents, beginning of period
                  
                  
                  -
                  
                  
                  642
                  
                  
                  -Cash
                      and cash equivalents, end of period
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -Supplemental
                      disclosures of cash flow information:Interest
                      paid
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -Income
                      taxes paid
                  
                  $
                  -
                  
                  $
                  -
                  
                  $
                  -




See
        notes to financial statements.




F-4


**MADISON
        AVENUE HOLDINGS INC.**
 **(A
        Development Stage Company)**
 **Notes
        to Financial Statements**
 **For
        the Three and Nine Months Ended September 30, 2007 and 2006**
 **and
        for the Period February 27, 2004 (Inception) to September 30,
        2007**
 **(Unaudited)**
 
 **NOTE
        1 - INTERIM FINANCIAL STATEMENTS**
 
 The
        unaudited financial statements as of September 30, 2007 and for the three
        and
        nine months ended September 30, 2007 and 2006 have been prepared in accordance
        with accounting principles generally accepted in the United States for interim
        financial information and with instructions to Form 10-QSB. In the opinion
        of
        management, the unaudited financial statements have been prepared on the
        same
        basis as the annual financial statements and reflect all adjustments, which
        include only normal recurring adjustments, necessary to present fairly the
        financial position as of September 30, 2007 and the results of operations
        and
        cash flows for the three and nine months ended September 30, 2007 and 2006.
        The
        financial data and other information disclosed in these notes to the interim
        financial statements related to these periods are unaudited. The results
        for the
        nine month period ended September 30, 2007 are not necessarily indicative
        of the
        results to be expected for any subsequent quarter of the entire year ending
        December 31, 2007. The balance sheet at December 31, 2006 has been derived
        from
        the audited financial statements at that date.
 
 Certain
        information and footnote disclosures normally included in financial statements
        prepared in accordance with accounting principles generally accepted in the
        United States have been condensed or omitted pursuant to the Securities and
        Exchange Commission’s rules and regulations. These unaudited financial
        statements should be read in conjunction with our audited financial statements
        and notes thereto for the year ended December 31, 2006 as included in our
        report
        on Form 10-KSB.
 
 **NOTE
        2 - ORGANIZATION**
 
 Madison
        Avenue Holdings Inc. (the “Company”) was incorporated in the State of Delaware
        on February 27, 2004. The Company has no products or services; the Company
        is
        seeking a business to merge with or acquire.
 
 **NOTE
        3 - BASIS OF PRESENTATION**
 
 The
        Company has been presented as a “development stage enterprise” in accordance
        with Statement of Financial Accounting Standards (“SFAS”) No.7, “Accounting and
        Reporting by Development Stage Enterprises”. Since inception, the Company’s
        activities have been limited to organizational efforts, obtaining initial
        financing, and making filings with the Securities and Exchange Commission.
 
 F-5
 
 **MADISON
        AVENUE HOLDINGS INC.**
 **(A
        Development Stage Company)**
 **Notes
        to Financial Statements**
 **For
        the Three and Nine Months Ended September 30, 2007 and 2006**
 **and
        for the Period February 27, 2004 (Inception) to September 30,
        2007**
 **(Unaudited)**
 
 At
        September 30, 2007, the Company had negative working capital and a stockholders’
deficiency of $3,661. For the period February 27, 2004 (inception) to September
        30, 2007, the Company incurred a net loss of $47,196. These factors create
        uncertainty as to the Company’s ability to continue as a going concern. The
        Company is making efforts to acquire a business with assets and operations.
        However, there is no assurance that the
 Company
        will be successful in accomplishing this objective. The financial statements
        do
        not include any adjustments that might be necessary should the Company be
        unable
        to continue as a going concern.
 
 **NOTE
        4 - STOCKHOLDERS’ EQUITY**
 
 In
        March
        2004, the Company sold 500,000 shares of its common stock at a price of $.001
        per share, or $500 total, to a corporation (the “First Stockholder”) controlled
        by the president and director of the Company. In March and May 2004, the
        First
        Stockholder made additional capital contributions to the Company of $3,951
        and
        $2,000, respectively. In February, April, July, and September 2005, the First
        Stockholder made additional capital contributions to the Company of $2,000,
        $3,000, $2,500, and $500, respectively.
 
 In
        August
        2005, the First Stockholder of the Company sold 475,000 shares of Company
        common
        stock to an unrelated third party (the “Second Stockholder”). Under the related
        Stock Purchase Agreement, in the event that the Company completes a merger
        or
        acquisition of one or more business entities identified by the new 95%
        stockholder (the “Business Combination”), the Company will issue such number of
        new shares of the common stock of the Company to the First Stockholder so
        that
        it will continue to retain 5% of equity ownership in the Company immediately
        after the close of any Business Combination. In October 2005, March 2006,
        and
        June 2006, the Second Stockholder made capital contributions to the Company
        of
        $319, $3,586 and $3,839, respectively.
 
 In
        June
        2006, the Second Stockholder sold a total of 237,500 shares of Company common
        stock to two unrelated third parties (the “Third Stockholder” and the “Fourth
        Stockholder”), 118,750 shares to each of them. In September 2006, December 2006,
        March 2007, June 2007 and September 2007, the Second Stockholder, Third
        Stockholder, and Fourth Stockholder made capital contributions to the Company
        of
        $2,341, $2,016, $3,891, $5,119 and $7,973, respectively.
  F-6
 **MADISON
        AVENUE HOLDINGS INC.**
 **(A
        Development Stage Company)**
 **Notes
        to Financial Statements**
 **For
        the Three and Nine Months Ended September 30, 2007 and 2006**
 **and
        for the Period February 27, 2004 (Inception) to September 30,
        2007**
 **(Unaudited)**
 
 **NOTE
        5 - INCOME TAXES**
 
 No
        provision for income taxes has been recorded since the Company has incurred
        net
        losses since inception.
 
 At
        September 30, 2007, deferred tax assets consist of:
  Net
                    operating loss carryforward
                
                $
                16,047Less
                    valuation allowance
                
                
                (16,047
                )Net
                
                $
                -
 Based
        on
        management ‘s present assessment, the Company has not yet determined it to be
        more likely than not that a deferred tax asset of $16,047 attributable to
        the
        future utilization of the $47,196 net operating loss carryforward as of
        September 30, 2007 will be realized. Accordingly, the Company has provided
        a
        100% allowance against the deferred tax asset in the financial statements
        at
        September 30, 2007. The Company will continue to review this valuation allowance
        and make adjustments as appropriate. The net operating loss carryforward
        expires
        in years 2024, 2025, 2026 and 2027 in the amounts of $7,297, $12,450, $9,621
        and
        $17,828, respectively.
 
 Current
        tax laws limit the amount of loss available to be offset against future taxable
        income when a substantial change in ownership occurs. Therefore, the amount
        available to offset future taxable income may be limited.
 
 **NOTE
        6 - COMMITMENTS AND CONTINGENCIES**
 
 All
        activities of the Company are being conducted by the officers and directors
        from
        either their homes or their business offices at no cost to the Company. The
        officers and directors have agreed to continue this arrangement until the
        Company completes a business combination.
 
 The
        Company has been provided certain professional services in connection with
        its
        SEC filings at no cost to the Company.




F-7


ITEM
      2.
      PLAN OF OPERATION





Search
      for a Target Company .





Madison
      Avenue Holdings Inc. ("MAHI") will search for target companies as potential
      candidates for a business combination.





MAHI
      has
      not entered into agreements with any third parties to locate potential merger
      candidates.





MAHI
      may
      seek to locate a target company through solicitation. Such solicitation may
      include newspaper or magazine advertisements, mailings and other distributions
      to law firms, accounting firms, investment bankers, financial advisors and
      similar persons, the use of one or more World Wide Web sites
      and
      similar methods. If MAHI engages in solicitation, no estimate can be made as
      to
      the number of persons who may be contacted or solicited. MAHI may utilize
      consultants in the business and financial communities for referrals of potential
      target companies. There is no assurance that MAHI will locate a target company
      or that a business combination will be successful.





Management
      of MAHI





MAHI
      has
      no full time employees. There are two officers - Alex Kam and Pan-Rong Liu.
      Mr.
      Kam is the Chief Executive Officer and a director. Mr. Liu is the Chief
      Financial Officer. Mr. Kam acquired 95% of the outstanding stock of MAHI (the
      "Shares") pursuant to a Stock Purchase Agreement dated as of July 8, 2005.
      The
      purchase price for the Shares was $120,000 paid in cash. The source of funds
      was
      personal funds. The Stock Purchase Agreement was closed on August 16,
      2005.





On
      May
      22, 2006, Mr. Kam entered into two separate share purchase agreements with
      each
      of Mr. Pan-Rong Liu and Mr. Seung Chi Tang. Under the share purchase agreements,
      Mr. Kam agreed to sell 118,750 shares of Common Stock (the "Common Shares")
      to
      each of Mr. Liu and Mr. Tang. The purchase price for the Common Shares under
      each share purchase agreement was $160,000 and was paid in cash.
      The
      share purchase agreements closed on June 13, 2006.




Both
      Mr.
      Kam and Mr. Liu have agreed to allocate a limited portion of their time to
      the
      activities of MAHI without compensation. Potential conflicts may arise with
      respect to the limited time commitment by Mr. Kam and Mr. Liu and the potential
      demands of the activities of MAHI.





The
      amount of time spent by management on the activities of MAHI is not predictable.
      Such time may vary widely from an extensive amount when reviewing a target
      company and effecting a business combination to an essentially quiet time when
      activities of management focus elsewhere. It is impossible to predict the amount
      of time management will actually be required to spend to review a suitable
      target company. Management estimates that the business plan of MAHI can be
      implemented by devoting approximately 10 to 25 hours per month over the course
      of several months, but such figure cannot be stated with precision.








General
      Business Plan





The
      purpose of MAHI is to seek, investigate and, if such investigation warrants,
      acquire an interest in a business entity which desires to seek the perceived
      advantages of a corporation which has a class of securities registered under
      the
      Exchange Act. MAHI will not restrict its search to any specific business,
      industry, or geographical location and MAHI may participate in a business
      venture of virtually any kind or nature. Management anticipates that it will
      be
      able to participate in only one potential business venture because MAHI has
      nominal assets and limited financial resources. This lack of diversification should
      be
      considered a substantial risk to the stockholders of MAHI because it will not
      permit MAHI to offset potential losses from one venture against gains from
      another.





MAHI
      may
      seek a business opportunity with entities which have recently commenced
      operations, or which wish to utilize the public marketplace in order to raise
      additional capital to expand into new products or markets, to develop a new
      product or service, or for other corporate purposes.





MAHI
      anticipates that the selection of a business opportunity in which to participate
      will be complex and extremely risky. MAHI has not conducted any research to
      confirm that there are business entities seeking the perceived benefits of
      a
      reporting corporation. Such perceived benefits may include facilitating
      or improving the terms on which additional equity financing may be sought,
      providing liquidity for incentive stock options or similar benefits to key
      employees, increasing the opportunity to use securities for acquisitions,
      providing liquidity for stockholders and other factors. Business opportunities
      may be available in many different industries and at various stages of
      development, all of which will make the task of comparative investigation and
      analysis of such business opportunities difficult and complex.





MAHI
      has,
      and will continue to have, minimal capital with which to provide the owners
      of
      business entities with any cash or other assets. However, MAHI offers owners
      of
      acquisition candidates the opportunity to acquire a controlling ownership
      interest in a reporting company without the time required to become a reporting
      company by other means. MAHI has not conducted market research and is not aware
      of statistical data to support the perceived benefits of a business combination
      for the owners of a target company.





The
      analysis of new business opportunities will be undertaken by, or under the
      supervision of, the officers and director of MAHI, who are not professional
      business analysts. In analyzing prospective business opportunities, MAHI may
      consider such matters as the available technical, financial and managerial
      resources; working capital and other financial requirements; history of
      operations, if any; prospects for the future; nature of present and expected
      competition; the quality and experience of management services which may be
      available and the depth of that management; the potential for further research,
      development, or exploration; specific risk factors not now foreseeable, but
      which then may be anticipated to impact the proposed activities of MAHI; the
      potential for growth or expansion; the potential for profit; the perceived
      public recognition or acceptance of products, services, or trades; name
      identification; and other relevant factors. This discussion of the proposed
      criteria is not meant to be restrictive of the virtually unlimited discretion
      of
      MAHI to search for and enter into potential business opportunities.





MAHI
      will
      not restrict its search for any specific kind of business entities, but may
      acquire a venture, which is in its preliminary or development stage, which
      is
      already in operation, or in essentially any stage of its business life. It
      is
      impossible to predict at this time the status of any business in which MAHI
      may
      become engaged, whether such business may need to seek additional capital,
      may
      desire to have its shares publicly traded, or may seek other perceived
      advantages which MAHI may offer.





Following
      a business combination MAHI may benefit from the services of others in regard
      to
      accounting, legal services, underwritings and corporate public relations. If
      requested by a target company, MAHI may recommend one or more underwriters,
      financial advisors, accountants, public relations firms or other
      consultants to provide such services.





A
      potential target company may have an agreement with a consultant or advisor
      providing that services of the consultant or advisor be continued after any
      business combination. Additionally, a target company may be presented to MAHI
      only on the condition that the services of a consultant or advisor are continued
      after a merger or acquisition. Such preexisting agreements of target companies
      for the continuation of the services of attorneys, accountants, advisors or
      consultants could be a factor in the selection of a target company.








Terms
      of a Business Combination





In
      implementing a structure for a particular business acquisition, MAHI may become
      a party to a merger, consolidation, reorganization, joint venture, licensing
      agreement or other arrangement with another corporation or entity. On the
      consummation of a transaction, it is likely that the present management and stockholders
      of MAHI will no longer be in control of MAHI. In addition, it is likely that
      the
      officers and directors of MAHI will, as part of the terms of the business
      combination, resign and be replaced by one or more new officers and
      directors.





It
      is
      anticipated that any securities issued in any such business combination would
      be
      issued in reliance upon exemption from registration under applicable federal
      and
      state securities laws. In some circumstances, however, as a negotiated element
      of its transaction, MAHI may agree to register all or a part
      of
      such securities immediately after the transaction is consummated or at specified
      times thereafter. If such registration occurs, it will be undertaken by the
      surviving entity after MAHI has entered into an agreement for a business
      combination or has consummated a business combination and MAHI is no longer considered
      a blank check company. The issuance of additional securities and their potential
      sale into any trading market which may develop in the securities of MAHI may
      depress the market value of the securities of MAHI in the future if such a
      market develops, of which there is no assurance.





While
      the
      terms of a business transaction to which MAHI may be a party cannot be
      predicted, it is expected that the parties to the business transaction will
      desire to avoid the creation of a taxable event and thereby structure the
      acquisition in a tax-free reorganization under Sections 351 or 368 of the
      Internal Revenue Code of 1986, as amended.





Depending
      upon, among other things, the target company's assets and liabilities, the
      stockholders of MAHI will in all likelihood hold a substantially lesser
      percentage ownership interest in MAHI following any merger or acquisition.
      The
      percentage of ownership may be subject to significant reduction in the event
      MAHI acquires a target company with substantial assets.





Any
      merger or acquisition effected by MAHI can be expected to have a significant
      dilutive effect on the percentage of shares held by the stockholders of MAHI
      at
      such time.





MAHI
      will
      participate in a business combination only after the negotiation and execution
      of appropriate agreements. Although the terms of such agreements cannot be
      predicted, generally such agreements will require certain representations and
      warranties of the parties thereto, will specify certain events
      of
      default, will detail the terms of closing and the conditions which must be
      satisfied by the parties prior to and after such closing and will include
      miscellaneous other terms.





If
      MAHI
      stops or becomes unable to continue to pay the operating expenses of MAHI,
      MAHI
      may not be able to timely make its periodic reports required under the Exchange
      Act nor to continue to search for an acquisition target.





Undertakings
      and understandings required of target companies





As
      part
      of a business combination agreement, MAHI intends to obtain certain
      representations and warranties from a target company as to its conduct following
      the business combination. Such representations and warranties may include (i)
      the agreement of the target company to make all necessary filings and to take
      all other steps necessary to remain a reporting company under the Exchange
      Act
      for at least a specified period of time; (ii) imposing certain restrictions
      on
      the timing and amount of the issuance of additional free-trading stock,
      including stock registered on Form S-8 or issued pursuant to Regulation S and
      (iii)
      giving assurances of ongoing compliance with the Securities Act, the Exchange
      Act, the General Rules and Regulations of the Securities and Exchange
      Commission, and other applicable laws, rules and regulations.








A
      potential target company should be aware that the market price and trading
      volume of the securities of MAHI, when and if listed for secondary trading,
      may
      depend in great measure upon the willingness and efforts of successor management
      to encourage interest in MAHI within the United States financial
      community. MAHI does not have the market support of an underwriter that would
      normally follow a public offering of its securities. Initial market makers
      are
      likely to simply post bid and asked prices and are unlikely to take positions
      in
      MAHI's securities for their own account or customers without active encouragement
      and basis for doing so. In addition, certain market makers may take short
      positions in MAHI's securities, which may result in a significant pressure
      on
      their market price. MAHI may consider the ability and commitment of a target
      company to actively encourage interest in MAHI's securities following a business
      combination in deciding whether to enter into a transaction with such company.





A
      business combination with MAHI separates the process of becoming a public
      company from the raising of investment capital. As a result, a business
      combination with MAHI normally will not be a beneficial transaction for a target
      company whose primary reason for becoming a public company is the immediate
      infusion of capital. MAHI may require assurances from the target company that
      it has,
      or
      that it has a reasonable belief that it will have, sufficient sources of capital
      to continue operations following the business combination. However, it is
      possible that a target company may give such assurances in error, or that the
      basis for such belief may change as a result of circumstances beyond the control
      of the target company.





Prior
      to
      completion of a business combination, MAHI may require that it be provided
      with
      written materials regarding the target company containing such items as a
      description of products, services and company history; management resumes;
      financial information; available projections, with related assumptions upon
      which they are based; an explanation of proprietary products and services; evidence
      of existing patents, trademarks, or service marks, or rights thereto; present
      and proposed forms of compensation to management; a description of transactions
      between such company and its affiliates during relevant periods; a description
      of present and required facilities; an analysis of risks and competitive
      conditions; a financial plan of operation and estimated capital requirements;
      audited financial statements, or if they are not available, unaudited financial
      statements, together with reasonable assurances that audited financial
      statements would be able to be produced within a reasonable period of time
      not
      to exceed 75 days following completion of a business combination; and other
      information deemed relevant.





Competition





MAHI
      will
      remain an insignificant participant among the firms which engage in the
      acquisition of business opportunities. There are many established venture
      capital and financial concerns which have significantly greater financial and
      personnel resources and technical expertise than MAHI. In view of MAHI's
      combined extremely limited financial resources and limited management
      availability, MAHI will continue to be at a significant competitive disadvantage
      compared to MAHI's competitors.





ITEM
      3.
      CONTROLS AND PROCEDURES





(a)
      Disclosure Controls and Procedures.





Mr.
      Alex
      Kam, our chief executive officer and Mr. Pan-Rong Liu, our chief financial
      officer, evaluated the effectiveness of the design and operation of our
      disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)
      under the Exchange Act, as of the quarterly period ended September 30, 2007.
      Based on that evaluation, our officers concluded that our disclosure controls
      and procedures were effective and adequately designed to ensure that the
      information required to be disclosed by us in the reports we submit under the
      Exchange Act is recorded, processed, summarized and reported within the time
      periods specified in the applicable rules and forms and that such information
      was accumulated and communicated to our chief executive officer and chief
      financial officer, in a manner that allowed for timely decisions regarding
      required disclosure.








(b)
      Changes in Internal Control over Financial Reporting





During
      the nine months ended September 30, 2007, there has been no change in internal
      control over financial reporting that has materially affected, or is reasonably
      likely to materially affect our internal control over financial
      reporting.





PART
      II -
      OTHER INFORMATION





Item
      6.
      Exhibits





EXHIBIT NUMBER
            DESCRIPTION  31.1
            Certification
                pursuant to Exchange Act Rules 13a-15(e) and 15d-15(e),as
                adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                2002;





31.2
            Certification
                pursuant to Exchange Act Rules 13a-15(e) and 15d-15(e),as
                adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
                2002;





32.1
            Certification
                pursuant to 18 U.S.C. 1350.








SIGNATURES





In
      accordance with the requirements of the Securities Exchange Act, the registrant
      caused this report to be signed on its behalf by the undersigned, thereunto
      duly
      authorized.




MADISON
              AVENUE HOLDINGS INC.(Registrant)Date: October 30, 2007
            
            Alex Kam(Name)/s/ Alex
              Kam(Signature)Chief
              Executive Officer