UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2007

COMMISSION FILE NUMBER 0-12895

ALL-STATE PROPERTIES L.P.
(Exact name of registrant as specified in its charter)

       Delaware  	    59-2399204
(State or other jurisdiction or	(I.R.S. Employer
 incorporation or organization) 	Identification No.)


4201 North Federal Highway, Suite B, Pompano Beach, FL 33064-6048
(Address of principal executive offices)        (Zip Code)

Mailing address:
	P.O. Box 5524,Fort Lauderdale, FL 33310-5524

Registrant's telephone number, including area code (954) 941-2290

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

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

                       Large accelerated filer
                       Accelerated filer
                       Non-accelerated filer   X














UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
(CONTINUED)





Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act).

                               YES   X
                               NO

Indicate the number of limited partnership units outstanding as
of the latest practicable date.


         Class                 Outstanding at September 30, 2007

 Limited Partnership Units              3,118,065 Units







	Page 1
ALL-STATE PROPERTIES L.P.
FORM 10-Q QUARTERLY REPORT
THREE MONTHS ENDED SEPTEMBER 30, 2007


I N D E X

PART 1 ? FINANCIAL INFORMATION

		PAGE

ITEM 1	Financial Statements	2-10

ITEM 2	Management?s Discussion and Analysis
	 of Financial Condition and Results of
	 Operations.	11

ITEM 3	Quantitative and Qualitative Disclosures
	 About Market Risk.	11

ITEM 4	Controls and Procedures.	11

	Supplemental Information - Exhibit	12

PART II ? OTHER INFORMATION

ITEM 1	Legal Proceedings	13

ITEM 1A	Risk Factors		13

ITEM 2 	Unregistered Sales of Equity Securities and
	 Use of Proceeds	13

ITEM 3	Defaults upon Senior Securities	13

ITEM 4	Submission of Matters to Vote of
	 Security Holders	13

ITEM 5	Other Information	13

ITEM 6 	Exhibits and Reports on Form 8-K	13-14

	Signatures	15






Page 2
ITEM 1  FINANCIAL STATEMENTS

ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
CONDENSED BALANCE SHEETS
SEPTEMBER 30, 2007 AND JUNE 30, 2007



	SEPTEMBER		  JUNE
	   30,		   30,
	 2 0 0 7      2 0 0 7
	(UNAUDITED)
ASSETS

  Cash	$	22,336	$	28,134

LIABILITIES AND PARTNERS' CAPITAL (DEFICIENCY)

LIABILITIES:

   Accounts payable and accrued
    liabilities	$	44,460	$	28,134

PARTNERS? CAPITAL (DEFICIENCY):

   Partners' Capital 		(22,124)		-

TOTAL LIABILITIES AND PARTNERS'
 CAPITAL (DEFICIENCY)	$	22,336	$	28,134

























See accompanying notes.




Page 3
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
CONDENSED STATEMENTS OF OPERATIONS
THREE MONTHS ENDED SEPTEMBER 30,
(UNAUDITED)

<TABLE>
<CAPTION>

			2 0 0 7	2 0 0 6
					<C>		<C>
<S>
REVENUES:

	Interest income	$	222	$	-
	Equity in income
	 (loss) of real
	 estate limited
	 liability company
	 - related party		-	 	(5,496)

	     Total Revenue	$	222	$	(5,496)

COST AND EXPENSES:

	General and
	 administrative		22,346		7,683

	Interest expense			-		2,708

			22,346		10,391

NET INCOME (LOSS)		$	(22,124)	$	(15,887)

NET INCOME (LOSS) PER
 PARTNERSHIP UNIT			$	(0.01)	$	(0.01)

CASH DISTRIBUTIONS PER UNIT	$	NONE	$	NONE

</TABLE>















See accompanying notes.




Page 4
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
CONDENSED STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED SEPTEMBER 30,
(UNAUDITED)



		  2 0 0 7		   2 0 0 6
CASH FLOW FROM OPERATING ACTIVITIES:
	Cash paid for general and
	 administrative expenses	$	(6,020)	$	(13,188)

	Interest received		222		-

	   Cash Used in Operating Activities	(5,798)		(13,188)


CASH FLOW FROM FINANCING ACTIVITIES:
	Repayment notes payable -
	 related party, net		-		12,500

	   Cash Provided by Financing
	    Activities		-		12,500

NET DECREASE IN CASH		(5,798)		(668)

CASH AT BEGINNING OF YEAR		28,134		961

CASH AT END OF PERIOD	$	22,336	$	273

























See accompanying notes.




Page 5
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
CONDENSED STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED SEPTEMBER 30,
(UNAUDITED)



		  2 0 0 7		   2 0 0 6
RECONCILIATION OF NET LOSS
 TO NET CASH USED IN
 OPERATING ACTIVITIES:

	Net Loss	$	(22,124)	$	(15,887)

ADJUSTMENTS TO RECONCILE NET
 LOSS TO NET CASH USED IN
 OPERATING ACTIVITIES:

	Equity in (income) loss of real
	 estate limited liability company ?
	 related party		-		5,496

	Interest expense		-		2,708

	Changes in Assets and Liabilities:
	  Increase (decrease) in accounts
	   payable		16,326		(5,505)

	      Total adjustments		16,326		2,699

CASH USED IN OPERATING ACTIVITIES	$	(5,798)	$	(13,188)























See accompanying notes.




Page 6
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
NOTES TO CONDENSED FINANCIAL STATEMENTS
THREE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
(UNAUDITED)


1.	BUSINESS

(a)	General Development of Business

		All-State Properties L.P., a limited partnership (the
?Partnership?) was organized under the Revised Uniform Limited
Partnership Act of Delaware on April 27, 1984 to conduct the
business formerly carried on by its predecessor corporation, All-
State Properties, Inc. (the ?Corporation?); and together with the
Partnership, the ?Company?. In March 2007 Hubei Longdan
(Delaware), Inc. (?Longdan Delaware? and ?Subsidiary?) was
organized under the laws of the State of Delaware as a wholly-
owned subsidiary of the Company. Longdan Delaware has only
nominal assets and no liabilities and has conducted no activities
except in connection with the transactions contemplated by the
Acquisition Agreement (See item 1(b)(ii)). The Company together
with Longdan Delaware referred to herein as the ?Registrant?.
Pursuant to a Plan of Liquidation adopted by shareholders of the
Corporation on September 30, 1984, the Corporation transferred
substantially all of its assets to the Partnership, and the
Corporation distributed such limited partnership interests to its
shareholders. The Registrant was engaged since inception in land
development and the construction and sale of residential housing
in various parts of the eastern United States and in Argentina
with its most recent transactions being in Florida.

		Since August 1999, the Company?s only business has
been the ownership of a member interest of approximately 35% in
Tunicom LLC, a Florida limited liability company (?Tunicom?). An
affiliate of Tunicom was engaged in the ownership and operation
of an adult rental apartment complex until the sale of the
apartment complex in August 2000. Since that time, Tunicom?s only
business was activities relating to its attempts to sell its only
remaining asset, five acres of commercial and residential land in
Broward County, Florida (the ?Remaining Property?). For a
description of the sale of the Remaining Property by Tunicom and
the liquidating distribution by the Company, see Item 1(b)(i).
Following the completion of the transactions described in Item
(b)(ii) the Company became a ?shell company? (as defined in Rule
12b-2 under the Securities Exchange Act of 1934, as amended)
because is has no or nominal operations and no or nominal assets
(other than cash). In March 2007, the Company entered into an
Acquisition Agreement which contemplates a reverse merger with a
private operating Chinese pharmaceutical company provided that
certain conditions are satisfied, including approval of the
transaction by its partners (See Item 1(b)(ii)).







Page 7
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
NOTES TO CONDENSED FINANCIAL STATEMENTS
THREE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
(UNAUDITED)

1.	BUSINESS (CONTINUED)

(a)	General Development of Business (Continued)

		On November 2, 2007, the Company terminated
the Acquisition Agreement based on the breach of its terms by
Longdan. As previously disclosed, the Company currently intends
to dissolve. Since the Company has no net assets, no further
distributions will be made to the partners.

		(b)	Narrative Description of Business

(i)	Remaining Property Sale

			On December 19, 2006, Tunicom sold the
Remaining Property and thereafter distributed the net sales
proceeds to its members, including the Company, as a final
liquidating distribution. After payment of certain debt and after
setting aside a reserve for expenses, the Company distributed the
remaining cash to its partners. Following the distribution, the
Company has no assets other than a small cash reserve which it
has set aside for payment of anticipated final expenses of the
Company.

(ii)	Acquisition Agreement

	The Company had been negotiating a definitive
agreement with Hubei Longdan Biological Medicine Technology Co.,
Ltd. (?Longdan?), a company organized under the laws of the
People?s Republic of China (the ?PRC?), pursuant to which the
Company would issue approximately eighty nine percent (89%) of
its capital stock to Longdan?s shareholders in return for
acquisition of the business of Longdan (the ?Acquisition?).
Longdan is engaged in the marketing and sale of pharmaceutical
products in the PRC.

                             On March 14, 2007, the Company, Longdan
Delaware, Longdan and Longdan International Inc., a corporation
formed under the laws of Nevis (?Longdan International?), entered
into an Acquisition Agreement (the ?Agreement?) pursuant to which
the Company will acquire Longdan International and an indirect
interest in Longdan and the shareholders of Longdan International
will acquire a controlling interest in the Company. The Company
will account for the transaction as a reverse merger.

	Under the terms of the Agreement, it is
contemplated that the Company will convert from a Delaware
limited partnership to a newly-formed Delaware corporation to be
called Longdan International Holdings, Inc. (?LIH?) and Longdan
International will merge with and into Longdan Delaware. At the




Page 8
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
NOTES TO CONDENSED FINANCIAL STATEMENTS
THREE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
(UNAUDITED)

1.	BUSINESS (CONTINUED)

 (ii)	Acquisition Agreement (Continued)

Merger Effective Time (as defined in the Agreement), the
shareholders of Longdan will be issued shares representing
approximately eighty nine percent (89%) of the capital stock of
the Company and the Company?s shareholders will hold shares
representing approximately eleven percent (11%) of the capital
stock of the Company, in each case, on an ?as if converted
basis?.

	Longdan had agreed to pay all costs
associated with the Acquisition, including legal fees
incurred in connection with the related corporate law
transactions and required filings under the securities laws,
and had also agreed to pay for any costs incurred by the
Company in connection with maintaining its registration under
the Securities Exchange Act of 1934, as amended, after June
30, 2007.

	On October 31, 2007 Longdan advised the
Company that it will not fulfill its contractual commitment
to pay these expenses. Accordingly, by its letter to Longdan
dated November 2, 2007, All-State terminated the Acquisition
Agreement based on this breach. As previously mentioned in
its filings with the Securities and Exchange Commission, the
Company?s current intention is to dissolve itself. Since the
Company has no net assets, no further distributions will be
made to the partners. The General Partner of the Company has
indicated that he will pay or seek to settle any remaining
liabilities of the Company, though he has no legal obligation
to do so.

		(iii)	Registrant has no plans for any new products.

		(iv)	Registrant holds no patents, trademarks, etc.

(v)	No part of Registrant?s business is
subject to significant seasonal
variation.

(vi)	Registrant?s only present source of
working capital is the cash in bank.

(vii)	No portion of Registrant?s business
involved government contracts.







Page 9
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
NOTES TO CONDENSED FINANCIAL STATEMENTS
THREE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
(UNAUDITED)




1.	BUSINESS (CONTINUED)

(viii)	Registrant incurs no research and development
expenses.

		(ix)	Registrant employs no employees.

2.	BASIS OF PRESENTATION

In the opinion of management, the accompanying unaudited interim
financial information reflects all adjustments, consisting of
normal recurring accruals, necessary for a fair presentation in
all material respects, of the information contained therein.
Certain information and footnote disclosure normally included in
financial statements prepared in accordance with generally
accepted accounting principles in the United States have been
condensed or omitted pursuant to instructions, rules and
regulations prescribed by the Securities and Exchange Commission.
The Company believes that the disclosures provided herein are
adequate to make the information presented not misleading when
these unaudited interim condensed financial statements are read
in conjunction with the audited financial statements and related
notes included in the Company?s Annual Report on Form 10-K for
the fiscal year ended June 30, 2007.

Operating results for the quarter ended September 30, 2007 are
not necessarily indicative of the results expected for the full
year (See Note 3).

The preparation of condensed financial statements in conformity
with generally accepted accounting principles in the United
States requires management to make estimates and assumptions,
including estimates of future contract costs and earnings. Such
estimates and assumptions affect the reported amounts of assets
and liabilities at the date of the financial statements and the
reported amounts of revenues and earnings during the current
reporting period. Management periodically assess and evaluates
the adequacy and/or deficiency of estimated liabilities recorded
for various reserves, liabilities, contract risks and
uncertainties. Actual results could differ from these estimates.











Page 10
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
NOTES TO CONDENSED FINANCIAL STATEMENTS
THREE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
(UNAUDITED)



3.	BUSINESS CONTINUITY

These financial statements have been prepared on a going concern
basis. As of February 6, 2007, the Company has realized its last
remaining asset and has distributed all cash except for
approximately $22,336 on hand as of September 30, 2007. This cash
will be used to pay expenses. The Company had no operations for
the quarter ended September 30, 2007 and a working capital
deficit of $22,124 as of September 30, 2007. As previously
disclosed in filings with the Securities and Exchange Commission
the Company?s current intention is to dissolve and the General
Partner of the Company has indicated that he will contribute
capital or seek to settle the working capital deficit and any
other remaining liabilities of the Company.






































Page 11
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
NOTES TO CONDENSED FINANCIAL STATEMENTS
THREE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
(UNAUDITED)


ITEM 2	MANAGEMENT?S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS ? ALL-STATE
PROPERTIES L.P.

The following discussion and analysis of our financial condition,
results of operations, liquidity and capital resources should be
read in conjunction with our financial statements and notes
thereto.

THREE MONTHS ENDED SEPTEMBER 30, 2007 COMPARED TO THREE MONTHS
ENDED SEPTEMBER 30, 2006

The Company had no operations for the three months ended
September 30, 2007. On November 2, 2007, the acquisition
agreement with Longdan has been terminated and the Company
intends to dissolve.

LIQUIDITY AND CAPITAL RESOURCES

During the three months ended September 30, 2007 and September
30, 2006, cash used in operations was $5,798 and $13,188,
respectively, primarily for the payment of general and
administrative expenses. The General Partner of the Company has
indicated that he will contribute capital or seek to settle the
working capital deficit of $22,124 and any other remaining
liabilities of the Company, though he has no legal obligation to
do so.

ITEM 3	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK

None.

ITEM 4	CONTROLS AND PROCEDURES

An evaluation was performed under the supervision and with the
participation of our management, including the general partner,
of the effectiveness of our disclosure controls and procedures
(as defined in Rules 13a-15(e) and 15d-15(e) under the Securities
and Exchange Act of 1934, as amended) as of the end of period
covered by this report. Based on that evaluation, the general
partner concluded that these disclosure controls and procedures
were effective. There has been no change in our internal control
over financial reporting during our most recent fiscal quarter
that has materially affected, or is reasonably likely to
materially affect, our internal control over financial reporting.







Page 12
ALL-STATE PROPERTIES L.P.
(A LIMITED PARTNERSHIP)
EXHIBIT - COMPUTATION OF NET INCOME (LOSS) PER PARTNERSHIP UNIT
THREE MONTHS ENDED SEPTEMBER 30,






		   2 0 0 7      2 0 0 6

Partnership units outstanding    		3,118,065		3,118,303

Net Income (Loss)	$	(22,124)	$	(15,887)

Net Income (Loss) Per Partnership
 Unit	$      (0.01) $     (0.01)










































Page 13
ALL-STATE PROPERTIES L.P.

PART II - OTHER INFORMATION



ITEM 1 ? Legal Proceedings

	None.

ITEM 1A- Risk Factors

	There have been no material changes from the risk factors
disclosed in All-State Properties L.P. Form 10-K.

ITEM 2 ? 	Unregistered Sales of Equity Securities and Use of
	Proceeds

	There were no unregistered sales of equity securities
during the quarter covered by this report.

ITEM 3 - Defaults upon Senior Securities

	There were no defaults by Registrant on its senior
securities during the quarter covered by this report.

ITEM 4 - Submission of Matters to Vote of Security Holders

	No matters were submitted during the quarter covered by
this report to a vote of limited partners.

ITEM 5 ? Other Information

	None.

ITEM 6 ? Exhibits and Reports on Form 8-K

(10a)Execution of Definitive Agreement by and among
All-State Properties L.P., Hubei Longdan
(Delaware), Inc., Hubei Longdan Biological
Medicine Technology Co., Ltd. and Longdan
International, Inc. (File No. 0-12895) dated March
14, 2007 and incorporated herein by reference.

(10b)Change in Certifying Registrant?s Accountant (File
No. 0-12895) dated May 17, 2007 and incorporated
herein by reference.













Page 14
ALL-STATE PROPERTIES L.P.

PART II - OTHER INFORMATION




ITEM 6 ? Exhibits and Reports on Form 8-K (Continued)

(10c)Termination of a Material Definitive Agreement by
and among All-State Properties L.P., Hubei Longdan
(Delaware), Inc., Hubei Longdan Biological
Medicine Technology Co., Ltd. and Longdan
International, Inc. (File No. 0-12895) dated
November 2, 2007 and incorporated herein by
reference.

(31)	Certification pursuant to 18 U.S.C. Section 1350,
as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002 (Page 21).

(32)	Certification of Chief Executive Officer (General
Partner) pursuant to 18 U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-
Oxley Act of 2002 (Page 23).




































Page 15




SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.


		ALL-STATE PROPERTIES L.P.



                                By:     /s/ Stanley R. Rosenthal
                                           STANLEY R. ROSENTHAL
                                            General Partner


Dated: November 13, 2007