U.S. Securities andExchange Commission

Washington, D.C. 20549

 

Form 10-QSB

[x] QUARTERLY REPORT UNDER SECTION 13OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

       For the quarter ended September 30, 2006

 

[ ] TRANSITION REPORT UNDER SECTION13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

           For the transition period from            to 

Commission File No. 333-123774

eSavingsStore.com,  Inc. (formerly Celtic Cross, Ltd.)
(Name of SmallBusiness Issuer in its Charter**)**
 

                                                                                           NEVADA                                                                                                                                86-1098668

                                                                                          ---------------                                                                                                                               --------------------

                                                                       (State or Other Jurisdiction of                                                                                                        (I.R.S. Employer I.D. No.)

                                                                        incorporation or organization)

 

1172 Manito Dr., NW

P.O. Box 363

Fox Island, WA 98333

-----------------------------

(Address of PrincipleExecutive Offices)

Issuer's TelephoneNumber: (253) 549-4336

Check whether the Issuer (1) filed all reports required to be filed bysection 13 or 15(d) of the Exchange Act during the past 12 months (or for suchshorter period that the Company was required to file such reports). And (2) hasbeen subject to such filing requirements for the past 90 days.

(1) Yes     X        No                        (2) Yes     X        No

               ----                ----                              ----                ----

 

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

Yes                No         X .

 

(APPLICABLE ONLY TO CORPORATE ISSUERS)

State the number of shares outstanding of each Issuer's classes of commonequity, as of the latest practicable date:

                                       November 15, 2006:         Common Stock**-**101,700,000shares 
 

DOCUMENTS INCORPORATED BY REFERENCE

A description of any "Documents Incorporated by Reference" is contained in  Item 6 of this report.

               Transitional Small Business Issuer Format     Yes            No         X

                                                                                                        -----               ----- 

 

 

 

 

 

eSavingsStore.com, Inc.

(formerly Celtic Cross, Ltd.)

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION                                                                                                                                                            PAGE

Item 1. Financial Statements (unaudited):

Balance Sheets as of September 30,2006 and December 31, 2005                                                                                                                    5

 

Statements of Operations for thethree and nine months ended

September 30, 2006 and 2005 and fromInception through

September 30, 2006                                                                                                                                                                                                   6

 

Statements of Cash Flows for the ninemonths ended

September 30, 2006 and 2005 and fromInception through

September 30, 2006                                                                                                                                                                                                   7

Notes to Financial Statements (unaudited)                                                                                                                                                        8-10

Item 2. Management's Plan of Operations                                                                                                                                                        11-12

Item 3. Controls and Procedures 

PART II. OTHER INFORMATION

Item 1. Legal Proceedings                                                                                                                                                                                     12

Item 2. Changes in Securities                                                                                                                                                                               12

Item 3. Defaults upon Senior Securities                                                                                                                                                             12

Item 4. Submission of Matters to a Vote of Securities Holders                                                                                                                      12

Item 5. Other Information                                                                                                                                                                                      12

Item 6. Exhibits and Reports on Form 8 - K                                                                                                                                                       13

Signatures and Certifications                                                                                                                                                                            13-15

 

 

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

The Financial Statements of the Company required to be filed with this 10-QSBQuarterly Report were prepared by management and commence on the following page,together with related Notes. In the opinion of management, these FinancialStatements fairly present the financial condition of the Company, but should beread in conjunction with the Financial Statements of the Company for the yearended December 31, 2005 previously filed with the Securities and ExchangeCommission.

 
** 

 ***** 

eSAVINGSSTOR.COM(formerly CELTIC CROSS, LTD.)*
(A Development StageCompany)

 

Unaudited FinancialStatements

 

For the Nine MonthsEnded September 30, 2006,

and the Period ofFebruary 25, 2004 (date of inception) 

through September 30,2006, 

 

 

 

 

 

 

 

 

esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Balance Sheets**
 
   **September 30,  **December 31,   **2006  **2005**Assets**   Current assets  . Cash 
$                                - 
 
$                     150 Prepaid rent and    deposits (note 5)
 - 
 
2,816  Total current assets 
- 
 
2,966Fixed assets
 
   Office and    computer equipment 
4,222 
 
4,222 Less accumulated    depreciation
 (3,895)
 
 (3,567)  Net fixed assets 
327 
 
655Other assets    
 
   Intangible asset    (note 3)
 33,100 
 
33,100  Total other assets 
33,100 
 
33,100   
 
 
  Total assets
 $                         33,427
 
$                  36,721   
 
  **Liabilities    and Stockholders' Deficit**   Current    liabilities 
 
   Accounts payable    
$ 4,605 
 
$ 12,937 Current portion -    note payable (note 3)
 2,241
 
 2,065   Total current liabilities    
6,846 
 
15,002Long-term    liabilities 
 
   Note payable,    less current portion (note 3)
 23,672
 
 25,347  Total long-term liabilities    
23,672 
 
25,347    
 
   Total liabilities    
30,518 
 
40,349         
 
  Stockholders'    deficit (note 4):
 
   Common stock;    $.001 par value, 1,000,000,000 shares
 
           authorized, 101,700,000 shares issued & outstanding 
101,700 
 
101,700 Additional    paid-in capital 
(26,300 
 
(26,300) Deficit    accumulated during development stage
 (72,491)
 
 (79,028)  Total stockholders' deficit    
2,909
 
(3,628)   
 
   Total liabilities    and stockholders' deficit
 $                         33,427 
 
$                  36,721
 

See accompanying notes to financial statements.
** 

esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Statements ofOperations

 **
Cumulative 
For the Three Months
For the Nine Months
from Inception,
Ended September 30,
Ended September 30,
Feb. 25, 2004
2006
2005
2006
2005
to Sep. 30, 2006**Revenue:**Revenue from    operations$                27,576$                        - $                31,576$                            - $                  31,576**Expenses:**
Consulting fees - related party -    -    - -    15,000    
Product & business development446    18    1,338166    10,203    
Travel, meals and entertainment-    100    1,114 1,370    6,441    
Legal fees711    1,426    3,548 5,336    9,686    
Audit & accounting575    1,400    8,225 10,950    23,445    
Transfer agent850    -1,895 90    2,285    
Organizational costs-    -    - -    404    
Rent (note 5)-1,513    2,816 3,742    8,696    
Depreciation110    328    329 982    3,895    
Interest expense (note 4)725    7822,211 2,354    6,963    
Other general & administrative858 1,456 3,563 5,275 17,049 **Total expenses**4,275 7,023 25,039 30,265 104,067**Net income (loss)    from operations**23,301    (7,023)6,537    (30,265)    (72,491)**Net income (loss)    before income taxes**
23,301    (7,023)6,537    (30,265)    (72,491)
Provision for income taxes- - - - - **Net income (loss)**$                23,301$               (7,023)$                    6,537$                  (30,265)$                 (72,491)**Net income (loss)    per common share**$                    0.00$                 (0.00)$                      0.00$                      (0.00)**Weighted average    outstanding shares**101,700,000 101,700,000 101,700,000 101,700,000 ** **
 

See accompanying notes to financial statements.
**esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Statements of CashFlows**
 

Cumulative 
For the Nine
For the Nine
from Inception,
Months Ended
Months Ended
Feb. 25, 2004
Sep. 30, 2006
to Sep. 30, 2005
to Sep. 30, 2006**Operating    Activities**Net profit (loss)$                    6,537$                  (30,265)$                           (72,491)Adjustments to    reconcile net loss to net cash 
used in    operations:
Depreciation329    982        3,895 
Revenues from    sale of travel points in exchange

for settlement    of accounts payable
(27,576) 
- 
(27,576)Changes in    operating assets and liabilities:
Decrease (increase) in prepaids and deposits    2,816    (4,329)-
Increase in accounts payable19,24314,404 32,181 **Cash used in    operating activities**1,349(19,208)(63,991)**Investing    Activities**
Purchase of fixed assets- - (4,222)**Cash used in    financing activities**- - (4,222)**Financing    Activities**
Issuance of shares for cash-    -        75,400 
Principal payments on note payable(1,499)(1,470)(7,187)**Cash provided    by (used in) financing activities**(1,499)(1,470)68,213 **Net change in    cash**    (150)    (20,678)-    **Cash at    beginning of the period**150 29,605 - **Cash at end of    the period**$                             - $                        8,927 $                                        - **Supplemental    Disclosures:****Interest paid in cash$                     2,211 
$                        2,354 
$                                6,963 Non-cash    investing and financing activities:
Purchase of timeshare property with
note payable
$                             -
$                                -$                               30,104
Settlement of debt through sale of 
travel points
$                   27,576
$                                -$                               27,576
 

See accompanying notes to financial statements.
**esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Notes to FinancialStatements

For the nine monthsended September 30, 2006

 

1. Organization and Summary of Significant Accounting Policies**
This summary of significant accounting policies ofeSavingStore.com, Inc. (formerly Celtic Cross, Ltd.) (a development stagecompany) (the Company) is presented to assist in understanding the Company'sfinancial statements. These accounting policies conform to accounting principlesgenerally accepted in the United States of America and have been consistentlyapplied in the preparation of the accompanying financial statements. The Companyhas not realized revenues from its planned principal business purpose and,accordingly, is considered to be in its development stage in accordance withSFAS #7.

Business Description

eSavingStore.com, Inc. (formerly Celtic Cross, Ltd.) (the Company) is aNevada corporation organized on February 25, 2004 to acquire timeshares and likeentities and facilitate rentals and sales of the entities and travel packagesvia its full-service travel website. The Company has elected a fiscal year endof December 31. 

On July 17, 2006, the Board of Directors voted to change the name of theCompany to eSavingStore.com, Inc.
***Income Taxes***
The Company recognizes the tax effects of transactions in theyear in which such transactions enter into the determination of net income,regardless of when reported for tax purposes. Deferred taxes are provided in thefinancial statements under Financial Accounting Standards Board Statement No.109 to give effect to the resulting temporary differences which may arise fromdifferences in the bases of fixed assets, depreciation methods, allowances, andstart-up costs based on the income taxes expected to be payable in future years.Minimal development stage deferred tax assets arising as a result of netoperating loss carryforwards have been offset completely by a valuationallowance due to the uncertainty of their utilization in future periods. 
***Estimates***
Preparation of financial statements in accordance withaccounting principles generally accepted in the United States of Americarequires the use of estimates, such as depreciation. Because of the use ofestimates inherent in the financial reporting process, actual results coulddiffer significantly from those estimates.
***Fixed Assets***
Fixed assets are stated at cost. Depreciation is computedusing the accelerated double-declining method based on estimated useful lives of3 years. 
**esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Notes to FinancialStatements

For the nine monthsended September 30, 2006

 

1. Organization and Summary of Significant Accounting Policies (continued)**
Cash and Cash Equivalents

For the purpose of the statements of cash flows, the Companyconsiders all highly liquid debt instruments purchased with a maturity of threemonths or less to be cash equivalents. The Company had $nil and $150 in cash andcash equivalents at September 30, 2006 and December 31, 2005, respectively.
****
Advertising

The Company generally expenses advertising costs as incurred.No advertising costs were incurred during the period of February 25, 2004(inception) through December 31, 2005, or for the nine months ended September30, 2006.

Recently Issued Accounting Pronouncements

In December of 2002, the FASB issued SFAS 148, "*Accountingfor Stock-Based Compensation - Transition and Disclosure - An Amendment of FASBStatement No. 123."*SFAS 148 provides alternative methods of transition fora voluntary change to the fair value based method of accounting for stock-basedemployee compensation. In addition, the statement amends the disclosurerequirement of Statement No. 123 to require prominent disclosures in both annualand interim financial statements about the method of accounting for stock-basedemployee compensation and the effect of the method used on reported results.

In April 2003, the FASB issued SFAS No. 149, "*Amendment ofStatement 133 on Derivative Instruments and Hedging Activities."*SFAS No.149 amends and clarifies financial accounting and reporting for derivativeinstruments, including certain derivative instruments embedded in othercontracts and for hedging activities under FASB Statement No. 133, *"Accounting for Derivative Instruments and Hedging Activities."*SFAS No. 149is generally effective for contracts entered into or modified after June 30,2003 and for hedging relationships designated after June 30, 2003.

In May 2003, the FASB issued SFAS No. 150, *"Accounting forCertain Financial Instruments with Characteristics of both Liabilities andEquity."*SFAS No. 150 establishes standards for how an issuer measurescertain financial instruments with characteristics of both liabilities andequity and requires that an issuer classify a financial instrument within itsscope as a liability (or asset in some circumstances). SFAS No. 150 waseffective for financial statements entered into or modified after May 31, 2003and otherwise was effective and adopted by the Company in 2003.

 
**esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Notes to FinancialStatements

For the nine monthsended September 30, 2006

1. Organization and Summary of Significant Accounting Policies (continued)**
In May 2005, the FASB issued SFAS No. 154, *"AccountingChanges and Error Corrections, a replacement of APB Opinion No. 20 and FASBStatement No. 3."* This statement changes the requirements for the accountingfor and reporting of a change in accounting principle. Previously, Opinion 20required that most voluntary changes in accounting principle be recognized byincluding in net income of the period of change the cumulative effect ofchanging to a new principle. This statement requires retrospective applicationto prior periods' financial statements of changes in accounting principle, whenpracticable. 

None of the above new pronouncements has current applicationto the Company, but may be applicable to the Company's future financialreporting.
****
Revenue Recognition

As described in Note 3, the Company has acquired an interest in a timeshareproperty. Revenues will be recognized upon rent or sale of the property, or whenthe Company performs other travel related services. The Company has recognizedany revenue of $31,576 from its intended business purpose as of September 30,2006.
****
Earnings Per Share 

The computation of net income (loss) per share of commonstock is based on the weighted average number of shares outstanding during theperiod presented. There were no potentially dilutive common share equivalentsoutstanding during the periods shown and, accordingly, the computation of netloss per share on a fully dilutive basis is the same as "primary" net loss pershare.
**Foreign Currency**
Transactions and balances originally denominated in U.S.dollars are presented at their original amounts. Transactions and balances inother currencies are converted into U.S. dollars in accordance with Statement ofFinancial Accounting Standards (SFAS) No. 52, *"Foreign Currency Translation,"*and are included in determining net income or loss.

Net gains and losses resulting from foreign exchangetransactions are included in the statements of operations and were not materialduring the periods presented. The cumulative translation adjustment and effectof exchange rate changes on cash at September 30, 2006.
**esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Notes to FinancialStatements

For the nine monthsended September 30, 2006

 

2.  Related Party Transactions**
On April 22, 2004, the Company entered into a consultingagreement with an entity affiliated with its president/director. The entity wasengaged to perform consulting services and provide office space for the Companyfor a term of six months commencing April 22, 2004, in exchange for $15,000. OnDecember 30, 2004, the president/director resigned from his position with theCompany. The Company did not engage in any related party transactions during thenine months ended September 30, 2006.

For the period of February 25, 2004 (inception) through April22, 2004 (see above paragraph), office space and services were provided withoutcharge by the Company's President. Such costs are immaterial to the financialstatements and have not been reflected therein. 
**3.  Intangible Asset & Long-term Liabilities**
The Company has acquired an undivided interest in theFairfield Resorts, Inc. (FRI) timeshare resort, along with the rights toparticipate in timeshare use, or to allow certain others the use, of a specifiednumber of days lodging in FRI timeshare properties. These rights are granted inthe form of points. In June of 2004, the Company purchased 315,000 points fromFRI and was given a bonus of 300,000 additional points as an incentive. AtSeptember 30, 2006 the Company had accumulated 930,000 points, and will receive315,000 points on each anniversary date for the next 99 years. The points workas currency and are redeemable at any time at any FRI resort during the year.Although the points represent a specific interest in the Grand Desert Resort inLas Vegas, Nevada, they can be used at any time in exchange for accommodationsat any of the other properties around the world owned by FRI. 

As part of its business plan, the Company will put togethertravel packages for its customers, providing hotel accommodations at FRI resortsvia redemption of its points. Since the actual undivided ownership interest intimeshare property real estate has a nominal value (based on the Company's shareof the total cost of FRI resort properties), the entire value of the purchaseprice has been assigned to the points acquired in the transaction, which will beused to generate future cash flows for the Company. The points have beenreported as an intangible asset in accordance with SFAS No. 142, *"Goodwilland Other Intangible Assets."* The points do not have a finite useful lifeover which to amortize their cost, and will therefore be tested for impairmentin accordance with SFAS No. 142. No impairment had been noted as of June 30,2006.****
The contract sales price of the points was $33,100. Duringthe period of February 25, 2004 (inception) through December 31, 2005, theCompany made a $2,996 down payment, and principal payments totaling $6,191resulting in a note payable balance of $27,412 at December 31, 2005. During thenine months ended September 30, 2006, the Company made $1,499 in principalpayments, for a note payable balance of $25,913 at September 30, 2006. Interestexpense from inception through September 30, 2006 and the nine months endedSeptember 30, 2006 and 2005, was $6,963, $2,211 and $2,354 respectively.****
On August 25, 2006, the Company entered into an agreementwith one of its vendors whereby the Company sold 600,000 of its travel points tothe vendor to settle debts totaling $27,576. The transaction reduced theCompany's available points to 330,000 at September 30, 2006.
**esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Notes to FinancialStatements

For the nine monthsended September 30, 2006

3.  Intangible Asset & Long-term Liabilities (Cont'd)**
The note is being financed through FRI carries a 10.99% annual interest ratewith monthly payments of $415 during the 10-year loan period, and iscollateralized by the timeshare property.**4.  Stockholders' Equity**
During March and April 2004, the Company issued common stock for cash inaccordance with separate private offering memorandums as follows: 

Number of shares 
Price per share 
Cash received 27,000,000 $ .001 $                                90028,500,000 .01 9,50030,000,000 .03 30,00011,400,000 .05 19,0004,800,000 .10 16,000101,700,000  $                             75,400
On July 1, 2006, the Board of Directors authorized a 30:1 forward stocksplit. The number of shares issued in accordance with private offerings in 2004as listed above include the effects of the split.

On July 10, 2006, the Board of Directors voted to increase the Company'sauthorized common shares from 75,000,000 to 1,000,000,000 shares.

 
**5.  Commitments and Contingencies**
The Company entered into a lease agreement for office spacein Nevada for a one-year period commencing April 1, 2005 with monthly rentpayments of $400. The Company paid $4,800 for the entire year of rent up front,an initial security deposit of $1,200, and $625 for use of the lessor's officefurniture for the term of the lease. The initial security deposit was appliedtowards an additional three months rent during the period. Rent expense andamortization of the office furniture fund for the periods ended September 30,2006 and December 31, 2005 was $2,816 and $3,809, respectively, resulting in $0and $2,816 of prepaid rent and deposits at September 30, 2006 and December 31,2005.

The Company also pays approximately $120 monthly for officespace in Canada, which includes telephone receptionist services. There is nolease and the agreement is cancelable at any time. Rent for this office spacetotaled $1,445 for 2005. There were no charge in the nine months ended September30, 2006 and $515 charged in the nine months ended September 30, 2005.

Total rent expense for the nine months ended September 30,2006 and September 30, 2005 was $2,816 and $3,742, respectively.**esavingstore.com(formerly CELTIC CROSS, LTD.)

(A Development StageCompany)

Notes to FinancialStatements

For the nine monthsended September 30, 2006

6.  Going Concern Considerations**
The accompanying financial statements have been prepared inconformity with accounting principles generally accepted in the United States ofAmerica, which contemplate continuation of the Company as a going concern.However, the Company has incurred losses since its inception and has not yetbeen successful in establishing profitable operations. These factors raisesubstantial doubt about the ability of the Company to continue as a goingconcern. Unanticipated costs and expenses or the inability to generate revenuescould require additional financing, which would be sought through bankborrowings, equity or debt financing, or asset sales. To the extent financing isnot available, the Company may not be able to, or may be delayed in, developingits services and meeting its obligations. 

The Company plans to mitigate the threat to its continuationby increasing its brand awareness throughout the United States, Europe, theCaribbean, and all international markets the Internet reaches, as well as toincrease recognition and world wide market awareness by the use of marketadvertising, Internet advertising, referral incentive programs and affiliatingwith regional rental organizations and travel agents. Management also plans tooffer rental units at popular convention locations using its Fairfield Resortstimeshare points, as well as other timeshare brands the Company might acquire. The Company has developed a full service website to facilitate its ability tooffer not only rental units, that it reserves using Fairfield points but alsoair, cruise, hotel and auto reservations. The Company's long-term goals will beto increase its timeshare points and to advertise product availability.****
The Company will continue to evaluate its projectedexpenditures relative to its available cash and to evaluate additional means offinancing in order to satisfy its working capital and other cash requirements.The accompanying financial statements do not reflect any adjustments that mightresult from the outcome of these uncertainties.
**7.  Subsequent Events**
On October 24, 2006, the Company entered into a Consulting Agreement withWannigan Capital Corp. (the Consultant), whereby the Consultant will prepare allnecessary regulatory and statutory filings required of the Company to maintainits fully reporting status and to act as liaison between the Company and itsAuditor. The Company agreed to compensate Consultant for its services by thedelivery to the Consultant of 300,000 Points from Fairfield Resorts and paymentto the Consultant a fee of $ 3,000. Legal, filing and accounting expense will beborne by the Company for the term of this Agreement, which is a three monthperiod commencing the 15th day of October 2006.

 

 

 

Item 2. Management's Plan of Operations.

eSavingStore.com (formerly Celtic Cross, Ltd.) was incorporated in the Stateof Nevada on February 25, 2004. Since its inception, the Company has not beeninvolved in any bankruptcy, receivership or similar proceedings. It has notundergone any material reclassification, merger, consolidation, or purchase orsale of a significant amount of assets in the ordinary course of business.

On July 1, 2006, the Company's Board of Directors voted toincrease the Company's issued and outstanding shares by causing the commonshares to be split forward based on 30:1 expansion of the issued and outstandingshares to shareholders of record on July 15, 2006.

On July 6, 2006, John McLane joined the Company and will serve as Presidentand CEO. Mr. McLane is currently the president and a principal of Mobius AssetManagement, Inc., a Commodity Trading Advisor in Scottsdale, Arizona, andPerfect Travel and Promotions, an Internet based Travel Promotion Company withthousands of clients nationwide headquartered in Daytona Beach, Florida. HowardBouch will remain a Director and will serve as CFO.

On July 10, 2006, the Board of Directors voted to increase the Company'sauthorized common shares to one billion shares.

On July 17, 2006, the Board of Directors voted to change the name of theCompany to eSavingsStore.com, Inc

On August 25, 2006 the Company agreed that Wannigan CapitalCorp would purchase the 600,000 points in Fairfield from the Company in fullsatisfaction of the $27,575.68 indebtedness owed by the Company to Wannigan atJune 30, 2006.

On October 24, 2006 the Company entered into a Consulting Agreement withWannigan Capital Corp to prepare all necessary regulatory and statutory filingsrequired of the Company to maintain its fully reporting status and to act asliaison between the Company and its Auditor. The Company agreed to compensateConsultant for its services by the delivery to the Consultant of 300,000 Pointsfrom Fairfield Resorts and payment to the Consultant a fee of $ 3,000. Legal,Filing and Accounting expense will be born by the Company for the term of thisAgreement. The agreement is for a term of three months commencing the 15thday of October 2006.
** **
GENERAL

The Company is in the business of providing travel bookingsand timeshare rentals and sales. eSavingStore.com (formerly Celtic Cross, Ltd.)was formed on February 25, 2004 as a "For Profit" corporation for the purpose ofacquiring the timeshare entities discussed herein, and additional like entitiesgoing forward. Our services can be accessed via our website, which offers rentalaccommodations in resorts that are part of Fairfield Resorts, Inc., as well asour full service travel agency capabilities to reserve airfares, car rentals andother hotel accommodations. It also offers timeshare units for sale at a pricepremium to the purchase price paid by the Company. 

 

In June of 2004, the Company purchased 300,000 points from Fairfield Resorts,Inc and was given a bonus of 300,000 additional points as an incentive. TheCompany receives 300,000 points on each anniversary date for the next 99 years.The maintenance at the Fairfield facilities are the responsibility of FairfieldResorts, Inc., however, the Company pays a monthly fee to Fairfield for thisservice. The maintenance fee is $141.00 per month at our current ownershiplevel. The points are redeemable at numerous resort locations around the world.These points can be used to rent vacation or business use accommodations. TheCompany books space in the resorts and rents these accommodations based on timeand market conditions. Once the Company's website is completed, the Company cancommence retail business activity, however, the Company has engaged in minimaloperating activities to date. At September 30, 2006, the Company had accumulated930,000 points, of which 600,000 were sold to a vendor in exchange forsettlement of accounts payable, resulting in 330,000 remaining points.

Our website can be viewed at www.celticcrosstravel.com,and offers rental accommodations in resorts that are part of Fairfield ResortsInc. as well as a full service travel agency with abilities to reserve airfares,car rentals and other hotel accommodations. A commission or booking fee is paidto the Company for all air fares, cruises, other hotel accommodations, and carrental reservations that are booked through the Company's website. This featureof the website is now currently active by clicking on "Travel" on theeSavingStore.com (formerly Celtic Cross, Ltd.) home page. 
The Company purchased the travel website platform from Travelnow.com and willreceive commissions or booking fees on all travel related reservations initiatedby eSavingStore.com (formerly Celtic Cross, Ltd.)

The Company will continue to develop the full service travel website thatwill offer not only our rental units that we reserve using Fairfield points, butalso air, cruise, hotel and auto reservations.

The Company does not act as a property manager, real estate agent orlandlord. The Company will hire these services as needed.

Management believes that a substantial international marketalready exists for independent full service Internet travel websites and thenon-owned casual usage of fully developed timeshare properties. The timesharefacilities are located in every major resort and holiday venue and lendthemselves to single visitation temporary rental programs as planned byeSavingStore.com (formerly Celtic Cross, Ltd.). Shared vacation ownership andtimeshare is a relatively new real estate based business opportunity.

Marketing
****
According to information from Resort Condominiums LLC. (RCI), our targetmarket wants to spend time with family and less time planning trips. Unlike standard hotel rooms, timeshare rental, often with two or three bedrooms,can easily accommodate larger families with children and friends or couplestraveling together in a well-appointed accommodation with social activities,entertainment, pools, tennis courts and other free amenities.

Most vacation ownership condominiums have two bedrooms andtwo baths, unit sizes range from studios to three or more bedrooms. Most unitsinclude a fully equipped kitchen with dining area, washer and dryer, stereo,televisions, VCRs and more. Timeshare resort amenities rival those of othertop-rated resort properties and may include planned children's activities,swimming pools, tennis, Jacuzzi, golf and bicycles as well as spa and exercisefacilities. Others feature boating, skiing, restaurants and equestrianfacilities on-site or nearby. 

With vacation rentals, consumers have the opportunity topurchase time at quality resorts offering an array of amenities in popularinternational destinations. In fact, there are now more than 5,400 resorts insome 100 countries around the world and annual vacation ownership sales areestimated to be in excess of $9.4 billion. Today, 3 million U.S. households own4.9 million weeks at nearly 1,600 resorts.
****
Outlook

According to the American Resort Development Association, theconcept was originated in the French Alps in the 1960s. Now, 44 years later, itis firmly positioned as one of the most popular vacation options enjoyed bytoday's leisure travelers. Millions of owners have found timeshares' spaciousfloor plans and home-like amenities very attractive when compared withtraditional hospitality products. Truly a home away from home, vacationownership provides the space and flexibility needed to easily accommodatefamilies and larger traveling parties in single, full service accommodationswith multi bedroom or attached units. eSavingStore.com (formerly Celtic Cross,Ltd.) believes an even larger market exists for one time single usage of thesefacilities by individuals and families who do not wish to own, but would ratherrent on an "As Needed" basis from a company such as eSavingStore.com (formerlyCeltic Cross, Ltd.) 

LIQUIDITY

During the next 12 months, the Company will need significant working capitalto fund its marketing efforts. The Company intends to obtain working capitalfrom the sale of product and through private investments made by third parties.****
Item 3. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

The Company's chief executive officer and chief financial officer haveevaluated the effectiveness of the design and operation of the Company'sdisclosure controls and procedures (as defined in Exchange Act Rule 13a-14c) asof a date within 90 days of the filing date of this quarterly report. Based onthat evaluation, the chief executive officer and chief financial officer haveconcluded that the Company's disclosure controls and procedures are effective toensure that material information relating to the Company is made known to suchofficers by others within these entities, particularly during the period thisquarterly report was prepared, in order to allow timely decisions regardingrequired disclosure.

Changes in Internal Controls

There have not been any significant changes in the Company's internalcontrols or in other factors that could significantly affect these controlssubsequent to the date of their evaluation.

PART II - OTHER INFORMATION 

Item 1. Legal Proceedings.

None

Item.2. Changes in Securities and Use of Proceeds.

None

Item 3. Defaults Upon Senior Securities. 

None

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

None 

Item 5. Other Information. 

None.

Item 6. Exhibits and Reports on Form 8-K. 

(a) Exhibits

The following exhibits are filed herewith:

31.1 Certification pursuant to Rule 13a-14(a) or 15d-14(a) under the    Securities Exchange Act of 1934, as amended. 

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

 

Reports on Form 8-K.

July 20, 2006 filed with the SEC on EDGAR

July 28, 2006 filed with the SEC on EDGAR

 

 

SIGNATURES
**Pursuant to the requirements of the Securities ExchangeAct of 1934, the Registrant has duly caused this Report to be signed on itsbehalf by the undersigned thereunto duly authorized. 
eSavingsStore.com Inc.

(formerly CelticCross, Ltd.)

 

                                                                                                                                                                   ***/s/ John McLane                               ***

Date: 11/15/06                                                                                                                                    By: John McLane

                                                                                                                                                                   President CEO and Director

 

 

                                                                                                                                                            By: ***/s/ Howard Bouch***

                                                                                                                                                                   Howard Bouch

                                                                                                                                                                   CFO and Director

 ************