U.S.Securities and Exchange Commission

Washington,D.C. 20549

 

Form 10-QSB

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

For the quarter ended June30, 2006

 

[ ] TRANSITION REPORT UNDERSECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period  from to 

CommissionFile No. 333-123774

eSavingsStore.com, Inc. (formerly Celtic Cross, Ltd.)

(Name ofSmall Business Issuer in its Charter**)**
                                                                                                           NEVADA                                                                                                                            86-1098668

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

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

                                                                                                                                                                                                                                              incorporation or organization)

 

1172 ManitoDr., NW

P.O. Box 363

Fox Island,WA 98333

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

(Address  of Principle Executive Offices)

Issuer'sTelephone Number: (253) 549-4336

 

Check whether the Issuer(1) filed all reports required to be filed by section 13 or 15(d) of theExchange Act during the past 12 months (or for such shorter period that theCompany was required to file such reports). And (2) has been subject to suchfiling requirements for the past 90 days.

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

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

 

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

Yes        No X .

 

(APPLICABLE ONLY TOCORPORATE ISSUERS)

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

August 15, 2006: CommonStock**-**101,700,000shares 
 

DOCUMENTS INCORPORATED BYREFERENCE

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

Transitional Small BusinessIssuer Format Yes            No   X

                                                                                   -----           ----- 

 

 

 

 

 

eSavingsStore.com, Inc.

(formerlyCeltic Cross, Ltd.)

TABLE OFCONTENTS

 

PART I. FINANCIALINFORMATION                                                                                                                                                                                                    PAGE

 

Item 1. FinancialStatements (unaudited):

Balance Sheets as of June30, 2006 and December 31, 2005                                                                                                                                                                        5

 

Statements of Operationsfor the three and six months ended

June 30, 2006 and 2005 andfrom Inception through

June 30, 2006                                                                                                                                                                                                                                                       6

 

Statements of Cash Flowsfor the six months ended

June 30, 2006 and 2005 andfrom Inception through

June 30, 2006                                                                                                                                                                                                                                                       7

 

Notes to FinancialStatements (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.
** 

 **
 

 

 

 

 
***ESAVINGSTORE.COM(FORMERLY CELTIC CROSS, LTD.)*
(A Development StageCompany)

 

Unaudited FinancialStatements

 

For the Six MonthsEnded June 30, 2006 and 2005,

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

through June 30, 2006,

 

 

eSavingStore.com(formerly Celtic Cross, Ltd.)

(A Development StageCompany)

Balance Sheets**
 
   **June 30,  **December 31,   **2006  **2005 **(unaudited)  **Assets**   Current assets  . Cash 
$ 59 
 
$ 150 Prepaid rent and    deposits (note 5)
 - 
 
2,816  Total current assets 
59 
 
2,966Fixed assets
 
   Office and    computer equipment 
4,222 
 
4,222 Less accumulated    depreciation
 (3,786)
 
 (3,567)  Net fixed assets 
436 
 
655Other assets    
 
   Intangible asset    (note 3)
 33,100 
 
33,100  Total other assets 
33,100 
 
33,100   
 
 
  Total assets
 $ 33,595
 
$ 36,721   
 
  **Liabilities    and Stockholders' Deficit**   Current    liabilities 
 
   Accounts payable    
$ 27,576 
 
$ 12,937 Current portion -    note payable (note 3)
 2,181
 
 2,065   Total current liabilities    
29,757 
 
15,002Long-term    liabilities 
 
   Note payable,    less current portion (note 3)
 24,230
 
 25,347  Total long-term liabilities    
24,230 
 
25,347    
 
   Total liabilities    
53,987 
 
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
 (95,792)
 
 (79,028)  Total stockholders' deficit    
(20,392)
 
(3,628)   
 
   Total liabilities    and stockholders' deficit
 $ 33,595 
 
$ 36,721
 

See accompanying notes to financial statements.

e**SavingStore.com(formerly Celtic Cross, Ltd.)
(A Development StageCompany)

Statements ofOperations

 (unaudited)

 **
Cumulative 
For the Three Months
For the Six Months
from Inception,
Ended June 30,
Ended June 30,
Feb. 25, 2004
2006
2005
2006
2005
to June 30, 2005**Revenue:**Revenue from    operations$    4,000$ -    $ 4,000$ -    $    4,000**Expenses:**Consulting fees -    related party -    -    - -    15,000    Product & business    development446    148    892 148    9,757    Travel, meals and    entertainment631    972    1,114 1,270    6,441    Legal fees300    2,681    2,837 3,910    8,975    Audit & accounting4,650    5,205    7,650 9,550    22,870    Transfer agent850    90    1,045 90    1,435    Organizational costs-    -    - -    404    Rent (note 5)1,304    1,843    2,816 2,229    8,696    Depreciation
109327    219 654    3,785    Interest expense    (note 4)746    783    1,486 1,572    6,238    Other general &    administrative1,941 2,487 2,705 3,819 16,191 **Total expenses**10,977 14,536 20,764 23,242 99,792 **Net income (loss)    from operations**    (6,977)    (14,536)(16,764)    (23,242)    (95,792)**Net loss before    income taxes**    (6,977)    (14,536)(16,764)    (23,242)    (95,792)Provision for income    taxes- - - - - **Net income (loss)**$ (6,977)$ (14,536)$ (16,764)$ (23,242)$ (95,792)**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 Six
For the Six
from Inception,
Months Ended
Months Ended
Feb. 25, 2004
June 30, 2006
June 30, 2005
to June 30, 2006**Operating    Activities**Net loss$    (16,764)$    (23,242)$    (95,792)Adjustments to    reconcile net loss to net cash used in    operations:Depreciation219    654        3,786 Changes in    operating assets and liabilities:Decrease    (increase) in prepaids and deposits    2,816    (5,841)-Increase in    accounts payable14,639 11,867 27,576 **Cash provided    by (used in) operating activities**910(16,562)(64,430)**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(1,001)(1,026)(6,689)**Cash provided    by (used in) financing activities**(1,001)(1,026)68,711 **Net change in    cash**    (91)     (17,588)59    **Cash at    beginning of the period**150 29,605 - **Cash at end of    the period**$ 59 $ 12,017 $ 59 **Supplemental    Disclosures:******Interest    paid in cash$ 1,486 

$ 1,572
$ 4,065****Income    taxes paid in cash$ - 

$ -
$ -Non-cash    investing and financing activities:
Purchase of timeshare property with
note payable
$ -
$ -
$ 30,104
 

 

See accompanying notes to financial statements.

 

 
**eSavingStore.com(formerly Celtic Cross, Ltd.)

(A Development StageCompany)

Notes to FinancialStatements

For the six monthsended June 30, 2006

 

1. Organization and Summary of Significant Accounting Policies**
This summary of significant accounting policies ofeSavingStore.com (formerly Celtic Cross, Ltd.) (a development stage company)(the Company) is presented to assist in understanding the Company's financialstatements. These accounting policies conform to accounting principles generallyaccepted in the United States of America and have been consistently applied inthe preparation of the accompanying financial statements. The Company has notrealized revenues from its planned principal business purpose and, accordingly,is considered to be in its development stage in accordance with Statement ofFinancial Accounting Standards (SFAS) No. 7, *"Accounting and Reporting byDevelopment Stage Enterprises."*
Business Description

ESavingStore.com (formerly Celtic Cross, Ltd.) (the Company) is a Nevadacorporation 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. 
** 

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 SFAS No. 109, *"Accounting for Income Taxes,"*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.Due to the uncertainty of their utilization in future periods, minimaldevelopment stage deferred tax assets of approximately $33,527 arising as aresult of net operating loss carryforwards of $95,792 have been offsetcompletely by a valuation allowance, which increased by approximately $5,867 and$8,135 during the six months ended June 30, 2006 and 2005, respectively. 
**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. 
**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 $59 and $150 in cash andcash equivalents at June 30, 2006 and December 31, 2005, respectively.
**Advertising**
The Company generally expenses advertising costs as incurred.No advertising costs were incurred during the six months ended June 30, 2006 or2005.
**eSavingStore.com(formerly Celtic Cross, Ltd.)

(A Development StageCompany)

Notes to FinancialStatements

For the six monthsended June 30, 2006

 

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

Recently Issued Accounting Pronouncements**
In March 2006, the FASB issued SFAS No. 156 *" Accounting for Servicing ofFinancial Assets-an amendment of FASB Statement No. 140."* This statementrequires that all separately recognized servicing assets and servicingliabilities be initially measured at fair value, if practicable. SFAS No. 156states that an entity should adopt this statement as of the beginning of itsfirst fiscal year that begins after September 15, 2006.

In February 2006, the FASB issued SFAS No. 155 *"Accounting for CertainHybrid Financial Instruments-an amendment of FASB Statements No. 133 and 140."*This statement improves financial reporting by eliminating the exemption fromapplying statement 133 to interests in securitized financial assets so thatsimilar instruments are accounted for similarly regardless of the form of theinstruments. This statement is effective for all financial instruments acquiredor issued after the beginning of an entity's first fiscal year that begins afterSeptember 15, 2006.

 

In December 2004, the FASB issued a revision of SFAS No. 123, *"Share-BasedPayment."* This statement establishes standards for the accounting fortransactions in which an entity exchanges its equity instruments for goods orservices. This statement is effective as of the beginning of the first interimor annual reporting period that begins after December 15, 2005.

 

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. 

In December 2004, the FASB issued SFAS No. 153, *"Exchanges of NonmonetaryAssets-an amendment of APB Opinion No. 29."*This statement amends Opinion 29to eliminate the exception for nonmonetary exchanges of similar productiveassets and replaces it with a general exception for exchanges of nonmonetaryassets that do not have commercial substance. This statement is effective as ofthe beginning of the first interim or annual reporting period that begins afterDecember 15, 2005.

In December 2004, the FASB issued SFAS No. 152, *"Accounting for RealEstate Time-Sharing Transactions-an amendment of FASB Statements No. 66 and 67."*This statement amends FASB Statements No. 66 and 67 to state that the guidancefor (a) incidental operations and (b) costs incurred to sell real estateprojects does not apply to real estate time-sharing transactions. This statementis effective for financial statements for fiscal years beginning after June 15,2005.

In November 2004, the FASB issued SFAS No. 151, *"Inventory Costs-anamendment of ARB No. 43, Chapter 4."*This statement requires that abnormalamounts of idle facility expense, freight, handling costs, and wasted material(spoilage) be recognized as current-period charges regardless of whether theymeet the criterion of "so abnormal." SFAS No. 150 was effective for financialstatements entered into or modified after May 31, 2003 and otherwise waseffective and adopted by the Company in 2003.

None of the above new pronouncements has current applicationto the Company, but may be applicable to the Company's future financialreporting.
**eSavingStore.com(formerly Celtic Cross, Ltd.)

(A Development StageCompany)

Notes to FinancialStatements

For the six monthsended June 30, 2006

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

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 recognizedrevenue of $4,000 from its intended business purposes as of June 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 theperiods 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. 
**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 thethree months ended June 30, 2006.
**eSavingStore.com(formerly Celtic Cross, Ltd.)

(A Development StageCompany)

Notes to FinancialStatements

For the six monthsended June 30, 2006

 

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. At June30, 2006 the Company had accumulated 615,000 points, and will receive 315,000points on each October 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 $2,692resulting in a note payable balance of $27,412 at December 31, 2005. During thesix months ended June 30, 2006, the Company made $1,001 in principal payments,for a note payable balance of $26,411 at June 30, 2006. Interest expense frominception through June 30, 2006 and the six months ended June 30, 2006 and 2005,was $6,238, $1,486 and $1,572 respectively.****
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.**eSavingStore.com(formerly Celtic Cross, Ltd.)

(A Development StageCompany)

Notes to FinancialStatements

For the six monthsended June 30, 2006

4.  Stockholders' Equity**
During March and April 2004, the Company issued common stock for cash inaccordance with separate private offering memorandums as follows: 
**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 andoffice furniture fund amortization for the six months ended June 30, 2006 and2005 was $2,816 and $1,714, respectively, resulting in $0 prepaid rent at June30, 2006..****
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 expense for the sixmonths ended June 30, 2006 and 2005 was $0 and $515, respectively. 

Total rent expense for the six months ended June 30, 2006 and2005 was $2,816 and $2,229, respectively.****
 
** 

eSavingStore.com(formerly Celtic Cross, Ltd.)

(A Development StageCompany)

Notes to FinancialStatements

For the six monthsended June 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 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.

 

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.

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. The Company receives 300,000 points on each anniversary date for  the next 99 years. The maintenance at the Fairfield facilities are the  responsibility of Fairfield Resorts, Inc., however, the Company pays a monthly  fee to Fairfield for this service. The maintenance fee is $141.00 per month at  our current ownership level. The points are redeemable at numerous resort  locations around the world. These points can be used to rent vacation or  business use accommodations. The Company books space in the resorts and rents  these accommodations based on time and market conditions. Once the Company's  website is completed, the Company can commence retail business activity,  however, the Company has engaged in minimal operating activities to date. 

Our website can be viewed at www.celticcrosstravel.com,  and offers rental accommodations in resorts that are part of Fairfield Resorts  Inc. 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 paid to the Company for all air fares, cruises, other hotel  accommodations, and car rental reservations that are booked through the  Company's website. This feature of the website is now currently active by  clicking on "Travel" on the eSavingStore.com (formerly Celtic Cross, Ltd.)  home page. 
The Company purchased the travel website platform from Travelnow.com and  will receive commissions or booking fees on all travel related reservations  initiated by eSavingStore.com (formerly Celtic Cross, Ltd.)

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

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

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

Marketing
****
According to information from Resort Condominiums LLC. (RCI), our target  market 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  couples traveling together in a well-appointed accommodation with social  activities, entertainment, pools, tennis courts and other free amenities.

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

With vacation rentals, consumers have the opportunity to  purchase time at quality resorts offering an array of amenities in popular  international destinations. In fact, there are now more than 5,400 resorts in  some 100 countries around the world and annual vacation ownership sales are  estimated to be in excess of $9.4 billion. Today, 3 million U.S. households  own 4.9 million weeks at nearly 1,600 resorts.
****
Outlook

According to the American Resort Development Association,  the concept was originated in the French Alps in the 1960s. Now, 44 years  later, it is firmly positioned as one of the most popular vacation options  enjoyed by today's leisure travelers. Millions of owners have found  timeshares' spacious floor plans and home-like amenities very attractive when  compared with traditional hospitality products. Truly a home away from home,  vacation ownership provides the space and flexibility needed to easily  accommodate families and larger traveling parties in single, full service  accommodations with multi bedroom or attached units. eSavingStore.com  (formerly Celtic Cross, Ltd.) believes an even larger market exists for one  time single usage of these facilities by individuals and families who do not  wish to own, but would rather rent on an "As Needed" basis from a company such  as eSavingStore.com (formerly Celtic Cross, Ltd.) 

 

LIQUIDITY

 

During the next 12 months, the Company will need significant working  capital to fund its marketing efforts. The Company intends to obtain working  capital from 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 have  evaluated the effectiveness of the design and operation of the Company's  disclosure controls and procedures (as defined in Exchange Act Rule 13a-14c)  as of a date within 90 days of the filing date of this quarterly report. Based  on that evaluation, the chief executive officer and chief financial officer  have concluded that the Company's disclosure controls and procedures are  effective to ensure that material information relating to the Company is made  known to such officers by others within these entities, particularly during  the period this quarterly report was prepared, in order to allow timely  decisions regarding required disclosure.

Changes in Internal Controls

There have not been any significant changes in the Company's internal  controls or in other factors that could significantly affect these controls  subsequent 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. 

31.2 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.

32.2 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                      Celtic Cross, Ltd.)

 

***/s/                      John McLane                               ***

Date: 08/15/06                                                                                                                        By: /s/ John McLane

President CEO                      and Director

 

 

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

Howard Bouch

CFO and                      Director************