**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**FORM      10-QSB**

| [X]                      | Quarterly                Report pursuant to Section 13 or 15(d) of the Securities Exchange                Act of                1934 |
|--------------------------|--------------------------------------------------------------------------------------------------------------------------------------|
|                     |                                                                                                                                 |
|                     | For                the quarterly period ended **September                30, 2006**                                                  |
|                     |                                                                                                                                 |
| [                 ] | Transition                Report pursuant to 13 or 15(d) of the Securities Exchange Act of                1934                       |
|                     |                                                                                                                                 |
|                     | For                the transition period                  to __________                                                    |
|                     |                                                                                                                                 |
|                     | Commission                File Number: **333-115444**                                                                           |

**Technology      Holdings, Inc.**

| **Nevada**                                                                    | **20-0987069**                                   |
|-------------------------------------------------------------------------------|--------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) | (IRS                Employer Identification No.) |

| **7311                W Charleston Blvd., Suite 110, Las Vegas, Nevada                89117** |
|-----------------------------------------------------------------------------------------------|
| (Address                of principal executive offices)                                       |

| **702-228-7105**                                                                                                 |
|------------------------------------------------------------------------------------------------------------------|
| (Issuer’s                telephone number)                                                                 |
|  _______________________________________________________________                                            |
| (Former                name, former address and former fiscal year, if changed since last                report) |

**[X]      Yes [ ] No**

**[X]      Yes [ ] No**

**7,500,000      common shares as of September 30, 2006.**

**Yes      [ ] No [X]**

----

|                                                 | **TABLE                OF CONTENTS**                                                      |   Page |
|------------------------------------------------------|-------------------------------------------------------------------------------------------|------------------|
| **PART                I - FINANCIAL INFORMATION**    |
| Item                1.                               | Financial                Statements                                                       |  3          |
| Item                2.                               | Plan                of Operation                                                          |  4          |
| Item                3.                               | Controls                and Procedures                                                    |  6          |
|  **PART                II - OTHER INFORMATION** |
| Item                1.                               | Legal                Proceedings                                                          |  7          |
| Item                2.                               | Unregistered                Sales of Equity Securities and Use of                Proceeds |  7          |
| Item                3.                               | Defaults                Upon Senior Securities                                            |  7          |
| Item                4.                               | Submission                of Matters to a Vote of Security                Holders         |  7          |
| Item                5.                               | Other                Information                                                          |  7          |
| Item                6.                               | Exhibits                                                                                  |  7          |

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Table          of Contents

**PART      I - FINANCIAL INFORMATION**

**Item      1.** **     Financial      Statements**

| Our                unaudited financial statements included in this Form 10-QSB are as                follows: |
|---------------------------------------------------------------------------------------------------------------|
|  F-1                                                                                                     |  Balance                Sheets as of September 30, 2006 and June 30, 2006; |
|  F-2                                                                                                     |  Statements                of Operations for the three months ended September 30, 2006 and                2005                and for the period from September 2, 2003 (inception) to September                30,                2006; |
|  F-3                                                                                                     |  Statement                of Changes in Stockholder’s Equity for the three months ended September                30, 2006 and 2005 and for the period from September 2, 2003 (inception)                to                September 30, 2006; |
|  F-4                                                                                                     |  Statements                of Cash Flows for the three months ended September 30, 2006 and 2005                and                for the period from September 2, 2003 (inception) to September 30,                2006; |
|  F-5                                                                                                     |  Notes                to Financial Statements. |

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Table          of Contents

**Technology        Holdings, Inc.**

**Formerly        known as MV Fund II, LLC**

**(a          Development Stage Company)**

**Balance            Sheets**

|                                                                              |    |                                                                   |                        |
|------------------------------------------------------------------------------|---------|------------------------------------------------------------------------|-----------------------------|
|                                                                         |    |                                                                   |                        |
|                                                                         |    |  September                  30,                                   |                        |
|                                                                         |    |                           2006 | June                    30, |
|                                                                         |    |  (unaudited)                                                      |                             | 2006 |
| **ASSETS**                                                                   |    |                                                                   |                        |
|                                                                         |    |                                                                   |                        |
| Current                  assets:                                             |    |                                                                   |                        |   |
| Cash                                                                         |  $ |  250,050                                                          | $                           | 250,050 |
|                                                                         |    |                                                                   |                        |   |
|                                                                         |    |                                                                   |                        |   |
| **LIABILITIES                  AND STOCKHOLDERS' EQUITY**                    |    |                                                                   |                        |   |
|                                                                         |    |                                                                   |                        |   |
| **LIABILITIES**                                                              |    |                                                                   |                        |   |
|                                                                         |    |                                                                   |                        |   |
| Current                  liabilities:                                        |    |                                                                   |                        |   |
| Accrued                  expenses                                            |  $ |  16,232                                                           | $                           | 7,023 |
|                                                                         |    |                                                                   |                        |   |
| **STOCKHOLDERS'                  EQUITY**                                    |    |                                                                   |                        |   |
|                                                                         |    |                                                                   |                        |   |
| **Common                  Stock**                                            |    |                                                                   |                        |   |
| Authorized:                                                                  |    |                                                                   |                        |   |
| 100,000,000                  common shares, par value $0.001 per share  |    |                                                                   |                        |   |
| Issued                  and outstanding:                                     |    |                                                                   |                        |   |
| 7,500,000                  common shares                                |    | 7,500                                                                  |                        | 7,500 |
|                                                                         |    |                                                                   |                        |   |
| Additional                  paid-in capital                                  |    |                  515,793                                          |                        | 515,793 |
|                                                                         |    |                                                                   |                        |   |
| **Deficit                  Accumulated During the Development Stage**        |    |  (289,475)                                                        |                        | (280,266) |
|                                                                         |    | 233,818                                                                |                        | 243,027 |
|                                                                         |    |                                                                   |                        |   |
|                                                                         |  $ | 250,050                                                                | $                           | 250,050 |
|                                                                         |    |                                                                   |                        |   |
|                                                                         |    |                                                                   |                        |   |

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Table          of Contents

**Technology      Holdings, Inc.**

**Formerly        known as MV Fund II, LLC**

**(a      Development Stage Company)**

**Statements      of Operations**

**(unaudited)**

|                                                           |    |                                |    |
|----------------------------------------------------------------|---------|-------------------------------------|--------------|
|                                                           |    | Three                  Months Ended |         | Three                  Months Ended |   | September                  2, 2003(Inception) to |
|                                                           |    | September                  30,      |         | September                  30, |   | September                  30, 2006 |
|                                                           |    | 2006                                |         | 2005 |   |   |
|                                                           |    |                                |         |   |   |   |
|                                                           |    |                                |         |   |   |   |
| Net                  Revenue                                   | $       | -                                   | $            | - | $ | - |
|                                                           |    |                                |         |   |   |   |
| Expenses:                                                      |    |                                |         |   |   |   |
| General                  and administrative expenses           |    | 9,209                               |         | 24,476 |   | 289,475 |
| Total                  expenses                                |    | 9,209                               |         | 24,476 |   | 289,475 |
|                                                           |    |                                |         |   |   |   |
| Net                  Loss for the Period                       |  $ | (9,209)                             |  $      | (24,476) |  $ | (289,475) |
|                                                           |    |                                |         |   |   |   |
| Basic                  and Diluted Loss Per Share              | $       | (0.01)                              |         |   | $ | (0.04) |
|                                                           |    |                                |         |   |   |   |
| Weighted                  Average Number of Shares Outstanding |    | 7,500,000                           |         |   |   | 7,500,000 |

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Table            of Contents

**Technology          Holdings, Inc.**

**Formerly          known as MV Fund II, LLC**

**(a          Development Stage Company)**

**Statements          of Cash Flows**

**(unaudited)**

|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |
|-----------------------------------------------------------------|--------|--------|-------------------------------------------|--------|--------|-------------------------------------|--------|--------|----------------------------------------------------------|
|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |
|                                                            |   |   |                                      |   |   |                                |   |   |                                                          |
|                                                                 |   |   | Three                  Months Ended  |   |   | Three                  Months Ended |   |   | September                    2, 2003 (Inception) to |
|                                                            |   |   | September                  30,       |   |   | September                  30,      |   |   | September                  30, 2006                      |
|                                                            |   |   | 2006                                      |   |   | 2005                                |   |   | (Unaudited)                                              |
|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |
| **Cash                    flows from operating activities**     |   |   |                                      |   |   |                                |   |   |                                                     |
| Net                    (loss)                                   |   | $      | (9,209)                                   |   | $      | (24,476)                            |   | $      | (289,475                                                 |
| Changes                    in operating assets and liabilities: |   |   |                                      |   |   |                                |   |   |                                                     |
| Increase                    (decrease) in accrued expenses      |   |   | 9,209                                     |   |   | 24,476                              |   |   | 16,232                                                   |
| Net                    cash (used) by operating activities      |   |   | -                                         |   |   | -                                   |   |   | (273,243)                                                |
|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |
| **Cash                    flows from financing activities**     |   |   |                                      |   |   |                                |   |   |                                                     |
| Proceeds                    from issuance of membership units   |   |   | -                                         |   |   | -                                   |   |   | 350,000                                                  |
| Services                    performed for stock                 |   |   | -                                         |   |   | -                                   |   |   | 150,000                                                  |
| Expenses                    paid in capital                     |   |   |                                      |   |   |                                |   |   |                                                     |
|  by                    managing member                     |   |   | -                                         |   |   | -                                   |   |   | 23,293                                                   |
| Net                    cash provided by financing activities    |   |   | -                                         |   |   | -                                   |   |   | 523,293                                                  |
|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |
| Net                    increase in cash                         |   |   | -                                         |   |   | -                                   |   |   | 250,050                                                  |
| Cash                    - beginning of period                   |   |   | 250,050                                   |   |   | -                                   |   |   | -                                                        |
| Cash                    - end of period                         |   | $      | 250,050                                   |   | $      | -                                   |   | $      | 250,050                                                  |
|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |
| Non-cash                    transactions:                       |   |   |                                      |   |   |                                |   |   |                                                     |
| Expenses                    paid for by the managing member     |   | $      | -                                         |   | $      | -                                   |   | $      | 23,293                                                   |
| Shares                    issued for expenses                   |   | $      | -                                         |   | $      | -                                   |   | $      | 150,000                                                  |
|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |
|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |
|                                                            |   |   |                                      |   |   |                                |   |   |                                                     |

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Table            of Contents

| **Technology                    Holdings, Inc.**                    |   |
|---------------------------------------------------------------------|--------|
| **Formerly                    known as MV Fund II, LLC**            |   |
| **(a                    Development Stage Company)**                |   |
| **Statement                    of Changes in Stockholders' Equity** |   |

|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
|--------------------------------------------------------------|---------|---------------------------------------------|--------|---------|------------|--------|---------|---------------------------------------|--------|---------|--------------------------------------|--------|---------|-----------|
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
|                                                         |    |                                        |   |    |            |   |    |                                  |   |    | Deficit                    |   |    | Total     |
|                                                         |    | Common                    Stock   |   |    | Additional |   |    | Accumulated                    During |   |    | Stockholders'                        |
|                                                         |    | Shares                            |   |    | Amount     |   |    | Paid-in                    Capital    |   |    | Development                    Stage |   |    | Equity    |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| September                    2, 2003 (Inception)             |  $ | -                                           |   | $       | -          |   | $       | -                                     |   | $       | -                                    |   | $       | -         |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Managing                    member donated capital           |    |                                        |   |    |       |   |    | 18,793                                |   |    |                                 |   |    | 18,793    |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Net                    loss for the period September 2, 2003 |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| thru                    June 30, 2004 (Restated)             |    |                                        |   |    |       |   |    | -                                     |   |    | (33,682)                             |   |    | (33,682)  |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Balance,                    June 30, 2004 (Restated)         |    | -                                           |   |    | -          |   |    | 18,793                                |   |    | (33,682)                             |   |    | (14,889)  |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Managing                    member donated capital           |    |                                        |   |    |       |   |    | 4,500                                 |   |    |                                 |   |    | 4,500     |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Net                    loss for the                          |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| year                    ended June 30, 2005                  |    |                                        |   |    |       |   |    | -                                     |   |    | (91,924)                             |   |    | (91,924)  |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Balance,                    June 30, 2005                    |  $ | -                                           |   | $       | -          |   | $       | 23,293                                |   | $       | (125,606)                            |   | $       | (102,313) |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Shares                    issued to managing member          |    | 4,000,000                                   |   |    | 4,000      |   |    |                                  |   |    |                                 |   |    | 4,000     |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Shares                    issued for cash proceeds           |    | 2,450,000                                   |   |    | 2,450      |   |    | 343,550                               |   |    |                                 |   |    | 346,000   |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Shares                    issued for services                |    | 1,050,000                                   |   |    | 1,050      |   |    | 148,950                               |   |    |                                 |   |    | 150,000   |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Net                    loss for the                          |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| year                    ended June 30, 2006                  |    |                                        |   |    |       |   |    | -                                     |   |    | (154,660)                            |   |    | (154,660) |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Balance,                    June 30, 2006                    |    | 7,500,000                                   |   |    | 7,500      |   |    | 515,793                               |   |    | (280,266)                            |   |    | 243,027   |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Net                    loss for the                          |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| three                    months ended September 30, 2006     |    |                                        |   |    |       |   |    | -                                     |   |    | (9,209)                              |   |    | (9,209)   |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
| Balance,                    September 30, 2006               |  $ | 7,500,000                                   |   |  $ | 7,500      |   |  $ | 515,793                               |   |  $ | (289,475)                            |   |  $ | 233,818   |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |
|                                                         |    |                                        |   |    |       |   |    |                                  |   |    |                                 |   |    |      |

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Table              of Contents

**Technology            Holdings, Inc.**

**Formerly            known as **
**MV Fund II, LLC**

**(a            Development Stage Company)**

**Notes            to Financial Statements**

**NOTE      1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES **

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Table          of Contents

**Technology        Holdings, Inc.**

**Formerly        known as **
**MV Fund II, LLC**

**(a        Development Stage Company)**

**Notes        to Financial Statements**

----

Table          of Contents

**Technology      Holdings, Inc.**

**Formerly        known as **
**MV Fund II, LLC**

**(a        Development Stage Company)**

**Notes        to Financial Statements**

**NOTE        2 - ACCRUED EXPENSES**

**NOTE 3      - STOCKHOLDERS’ EQUITY **

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Table            of Contents

**Technology        Holdings, Inc.**

**Formerly        known as **
**MV Fund II, LLC**

**(a        Development Stage Company)**

**Notes        to Financial Statements**

**NOTE      4- LIQUIDITY AND GOING CONCERN**

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Table          of Contents

**Item      2.     Plan of      Operation**

**Forward-Looking      Statements**

**Plan      of Operation**

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Table          of Contents

**Results      of Operations for the three months ended September 30, 2006 and      2005**

**Liquidity      and Capital Resources**

**Off      Balance Sheet Arrangements **

**Going      Concern**

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Table          of Contents

**Item      3.     Controls and Procedures**

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Table          of Contents

**PART      II - OTHER INFORMATION**

**Item      1.     Legal      Proceedings**

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

**Item      3.     Defaults upon Senior      Securities**

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

**Item      5.     Other      Information**

**Item      6.      Exhibits**

| **Exhibit****Number** | **Description                of Exhibit**                                                                                                                                                                                                                |
|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1                  | Certification                of Chief Executive Officer pursuant to 18                U.S.C. Section 1350, as adopted pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002                                                           |
| 31.2                  | Certification                of Chief Financial Officer pursuant to 18                U.S.C. Section 1350, as adopted pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002                                                           |
| 32.1                  | Certification                of Chief Executive Officer and Chief                Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted                pursuant                to Section 906 of the Sarbanes-Oxley Act of                2002 |

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Table          of Contents

**SIGNATURES**

|   | **Technology                Holdings, Inc.**                                                                                                                                                                                                                                                                                                                   |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                           |
| Date:  | November                1, 2006                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                           |
|   |   By:     /s/                Sam Medley                                       Sam MedleyTitle:    Chief                Executive Officer, Chief Financial Officer and Director  |