================================================================================
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                             -----------------------

                                   FORM 10-QSB

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

                  For the quarterly period ended September 30, 2006

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

             For the transition period from _________ to __________

                        Commission File Number: 000-51074


                      BIOFORCE NANOSCIENCES HOLDINGS, INC.
         ---------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

         Nevada                                                 76-3078125
 ------------------------------                             ------------------
(State or other jurisdiction of                                (IRS Employer
 incorporation or organization)                             Identification No.)

              1615 Golden Aspen Drive, Suite 101, Ames, Iowa 50010
              ----------------------------------------------------
                    (Address of principal executive offices)


                                 (515) 233-8333
                            -------------------------
                           (Issuer's telephone number)

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

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

State the number of shares outstanding of the issuer's classes of common equity,
as of the latest practicable date: 23,999,950 Common Shares, $0.001 par value,
as of September 30, 2006

Transitional Small Business Disclosure Format:  Yes [ ]     No [X]




                              Report on Form 10-QSB
                       For the Quarter Ended September 30, 2006

                                      INDEX

                                                                          Page
                                                                          ----
Part I.  Financial Information

         Item 1.      Financial Statements (unaudited)...................... 3

                      Balance Sheets ......................................4-5
                      Statements of Operations ............................. 6
                      Statement of Stockholders' Equity (Deficit)........... 7
                      Statements of Cash Flows ............................. 8
                      Notes to the Financial Statements ..................9-10

         Item 2.      Management's Discussion and Analysis
                        or Plan of Operation .............................. 11

         Item 3.      Controls and Procedures ............................. 13

Part II. Other Information

         Item 1.      Legal Proceedings ................................... 13

         Item 2.      Unregistered Sales of Equity Securities
                                   and Use of Proceeds .................... 14

         Item 3.      Defaults Upon Senior Securities ..................... 14

         Item 4.      Submission of Matters to a Vote of Security Holders . 14

         Item 5.      Other Information ................................... 14

         Item 6.      Exhibits ............................................ 14

                      Signatures .......................................... 15



                                      -2-
<PAGE>


PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

The  accompanying  balance  sheets of BioForce  Nanosciences  Holdings,  Inc. at
September  30,  2006 and  December  31,  2005,  and the  related  statements  of
operations,  stockholders'  equity (deficit) and cash flows for the three months
and nine months ended  September  30, 2006 and 2005,  have been  prepared by our
management  in  conformity  with United  States  generally  accepted  accounting
principles.  In the opinion of management,  all adjustments considered necessary
for a fair presentation of the results of operations and financial position have
been  included  and all  such  adjustments  are of a  normal  recurring  nature.
Operating  results for the quarter ended September 30, 2006, are not necessarily
indicative  of the  results  that can be  expected  for the fiscal  year  ending
December 31, 2006.












                      BIOFORCE NANOSCIENCES HOLDINGS, INC.

                              FINANCIAL STATEMENTS

                    September 30, 2006 and December 31, 2005


                                      -3-
<PAGE>


<TABLE>
<CAPTION>
                                         BIOFORCE NANOSCIENCES HOLDINGS, INC.
                                                    BALANCE SHEETS


                                                                                December 31, September 30,
                                                                                   2005         2006
                                                                                ----------   ----------
                                                        ASSETS
                                                                                             (Unaudited)
<S>                                                                             <C>          <C>
 CURRENT ASSETS
     Cash and cash equivalents                                                  $  362,997   $3,631,033
     Accounts receivable - trade                                                     8,775        8,989
     Inventory                                                                        --        559,536
     Prepaid expenses and other assets                                               8,933       47,765
                                                                                ----------   ----------
            Total current assets                                                   380,705    4,247,323
                                                                                ----------   ----------

PROPERTY AND EQUIPMENT
     Computer equipment                                                             51,575       70,924
     Scientific and laboratory equipment                                           380,000      380,000
     Leasehold improvements                                                        598,968      658,490
     Office furniture and fixtures                                                  51,365       60,843
                                                                                ----------   ----------
           Total                                                                 1,081,908    1,170,257
     Less accumulated depreciation                                                 495,066      621,318
                                                                                ----------   ----------
            Net property and equipment                                             586,842      548,939
                                                                                ----------   ----------

INTANGIBLE ASSETS
     Patent costs, net                                                             418,657      546,150
     Trademark and branding costs, net                                              35,978       47,128
                                                                                ----------   ----------
            Total intangible assets                                                454,635      593,278
                                                                                ----------   ----------

            TOTAL ASSETS                                                        $1,422,182   $5,389,540
                                                                                ==========   ==========


                The accompanying notes are an integral part of these financial statements.
</TABLE>
                                                   -4-
<PAGE>



<TABLE>
<CAPTION>

                                     BIOFORCE NANOSCIENCES HOLDINGS, INC.
                                                BALANCE SHEETS


                                                                            December 31,    September 30,
                                                                                2005            2006
                                                                            ------------    ------------
                                          LIABILITIES AND STOCKHOLDERS' EQUITY
                                                                                             (Unaudited)
<S>                                                                         <C>             <C>
 CURRENT LIABILITIES
     Accounts payable                                                       $     89,217    $    200,020
     Accrued interest                                                             58,145            --
     Accrued expenses                                                             66,613              26
     Current portion of long term debt                                           878,369          25,946
                                                                            ------------    ------------
            Total current liabilities                                          1,092,344         225,992

LONG-TERM DEBT, net                                                              172,116         394,963
                                                                            ------------    ------------
            Total liabilities                                                  1,264,460         620,955
                                                                            ------------    ------------

COMMITMENTS and CONTINGENCIES                                                       --              --

STOCKHOLDERS' EQUITY
     Preferred stock - 2005-$0.01 par value, 1,000,000 shares authorized,
       none outstanding;                                                            --
      2006-$0.001 par value, 10,000,000 shares authorized,
       none outstanding                                                             --
     Common stock - 2005-$0.01 par value, 24,000,000 shares
       authorized, 11,142,276 issued, 11,079,776 shares outstanding;             111,423
       2006-$0.001 par value, 100,000,000 shares authorized,
       23,999,950 shares outstanding                                              24,000
     Additional paid-in capital                                                5,915,024      13,344,499
     Treasury stock - 62,500 shares, at cost                                      (2,500)           --
     Accumulated deficit                                                      (5,866,225)     (8,599,914)
                                                                            ------------    ------------
            Total stockholders' equity                                           157,722       4,768,585
                                                                            ------------    ------------




            TOTAL LIABILITIES AND
              STOCKHOLDERS' EQUITY                                          $  1,422,182    $  5,389,540
                                                                            ============    ============

                 The accompanying notes are an integral part of these financial statements.

</TABLE>

                                                  -5-
<PAGE>
<TABLE>
<CAPTION>

                                      BIOFORCE NANOSCIENCES HOLDINGS, INC.
                                            STATEMENTS OF OPERATIONS
                                                   (Unaudited)

                                           For the Three Months Ended      For the Nine Months Ended
                                                 September 30,                   September 30,
                                             2005             2006            2005           2006
                                          ------------    ------------    ------------    ------------

<S>                                       <C>             <C>             <C>             <C>
 REVENUES
     Sales, net of discounts              $     20,601    $     31,430    $     84,536    $    260,928
     Consulting income                          14,255            --            21,755             700
                                          ------------    ------------    ------------    ------------
           Net revenue                          34,856          31,430         106,291         261,628

COST OF GOODS SOLD                              29,766          23,188          90,693         101,274
                                          ------------    ------------    ------------    ------------

           Gross profit                          5,090           8,242          15,598         160,354

EXPENSES
     Research and development                  223,449         166,565         954,514         523,125
     Sales and marketing                        64,591         177,963         201,716         359,775
     General and administrative                162,690         387,542         622,705       1,303,233
     Reimbursement of grant expenses           (59,135)        (49,688)       (303,081)       (151,117)
                                          ------------    ------------    ------------    ------------
           Total expenses                      391,595         682,382       1,475,854       2,035,016
                                          ------------    ------------    ------------    ------------

           Loss from operations               (386,505)       (674,140)     (1,460,256)     (1,874,662)

OTHER INCOME (EXPENSE)
     Interest and other income                     447          51,575           3,152         117,296
     Interest expense                          (66,905)           (531)       (117,329)       (976,323)
                                          ------------    ------------    ------------    ------------
           Total other income (expense)        (66,458)         51,044        (114,177)       (859,027)
                                          ------------    ------------    ------------    ------------

           Net loss before income taxes       (452,963)       (623,096)     (1,574,433)     (2,733,689)

PROVISION FOR INCOME TAXES                        --              --              --              --
                                          ------------    ------------    ------------    ------------

           Net loss                       $   (452,963)   $   (623,096)   $ (1,574,433)   $ (2,733,689)
                                          ============    ============    ============    ============

BASIC LOSS PER COMMON SHARE               ($      0.02)   ($      0.03)   ($      0.07)   ($      0.11)
                                          ============    ============    ============    ============
WEIGHTED AVERAGE NUMBER OF SHARES
 OUTSTANDING                                23,999,950      23,999,950      23,999,950      23,999,950
                                          ============    ============    ============    ============



            The accompanying notes are an integral part of these financial statements.
</TABLE>

                                              -6-
<PAGE>

<TABLE>
<CAPTION>
                                                BIOFORCE NANOSCIENCES HOLDINGS, INC.
                                  STATEMENTS OF STOCKHOLDERS' EQUITY For the period January 1, 2005
                                                     through September 30, 2006
                                                             (Unaudited)

                                         Preferred Stock          Common Stock      Additional                             Total
                                     --------------------- -----------------------   Paid-In    Treasury   Accumulated Stockholders'
                                       Shares     Amount      Shares      Amount     Capital      Stock     (Deficit)      Equity
                                     ---------- ---------- ----------- ----------- ----------- ----------- ----------- ------------
<S>              <C>                            <C>         <C>        <C>         <C>         <C>         <C>          <C>
Balance, January 1, 2005                   --   $     --    10,833,955 $   108,339 $ 4,628,208 ($   2,500) $(3,840,032) $   894,015
  Net loss for the year                    --         --          --          --          --          --    (2,026,193)  (2,026,193)
  Issuance of common stock
    for cash at $2.04 per share
    net of issuance costs of $38,823       --         --       308,321       3,084     586,816        --           --       589,900
  Value attributed to beneficial
    conversion feature                     --         --          --          --       700,000        --           --       700,000
                                     ---------- ---------- ----------- ----------- ----------- ----------- -----------  -----------
Balance, December 31, 2005                 --         --    11,142,276     111,423   5,915,024     (2,500)  (5,866,225)     157,722
  Net loss for the six months
    ended June 30, 2006                    --         --          --          --          --         --     (2,110,593)  (2,110,593)
  Shares issued
    for debt at $0.69 per share            --         --     2,392,198      23,967   1,617,201       --           --      1,641,168
  Shares issued
    for cash at $1.50 per share
    net of issuance costs of $719,844      --         --     4,000,000      40,000   5,240,156       --           --      5,280,156
  Valuation of warrants issued             --         --          --          --       423,228       --           --        364,348
  Recapitalization                         --         --     6,465,476    (151,390)    148,890      2,500         --           --
                                     ---------- ---------- ----------- ----------- ----------- ----------- -----------  -----------
Balance, September 30, 2006                --         --    23,999,950 $    24,000 $13,344,499 $     --    $(7,976,818) $ 5,332,801
                                     ========== ========== =========== =========== =========== =========== ===========  ===========

                           The accompanying notes are an integral part of these financial statements.
</TABLE>

                                                              -7-
<PAGE>



<TABLE>
<CAPTION>

                            BIOFORCE NANOSCIENCES HOLDINGS, INC.
                                  STATEMENTS OF CASH FLOWS
                                         (Unaudited)
                                                                     For the Nine Months Ended
                                                                           September 30,
                                                                       2005            2006
                                                                    -----------    -----------
<S>                                                                 <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES
     Net loss                                                       $(1,574,433)   $(2,733,689)
     Adjustments to reconcile net loss to net
      cash used by operating activities:
         Depreciation                                                   112,468        126,252
         Amortization of intangible assets                                8,601         18,245
         Value of warrants and options granted                             --          423,229
         Beneficial conversion interest                                 103,840        947,317
         Change in:
            (Increase) Decrease Accounts receivable                        (975)          (214)
            (Increase) Decrease Prepaid expenses and other assets         4,682        (38,832)
            (Increase) Decrease Inventory                               (14,851)      (559,536)
            Increase (Decrease) Accounts payable                        (59,109)       110,803
            Increase (Decrease) Accrued expenses                         24,500        (33,565)
                                                                    -----------    -----------
                Net cash used by operating activities                (1,395,277)    (1,739,990)
                                                                    -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES
     Purchases of property and equipment                               (346,207)       (88,349)
     Patent, trademark, and branding costs                             (102,150)      (156,888)
                                                                    -----------    -----------
                        Net cash used by investing activities          (448,357)      (245,237)
                                                                    -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES
     Proceeds from issuance of long-term debt                           850,000           --
     Repayment of long-term debt                                           (688)       (26,893)
     Proceeds from issuance of common stock, net of capital
       acquisition costs                                                590,200      5,280,156
                                                                    -----------    -----------
                        Net cash provided by financing activities     1,439,512      5,253,263
                                                                    -----------    -----------

Net (decrease) increase in cash                                        (404,122)     3,268,036
CASH AND CASH EQUIVALENTS - beginning of year                           499,196        362,997
                                                                    -----------    -----------

CASH AND CASH EQUIVALENTS - end of year                             $    95,074    $ 3,631,033
                                                                    ===========    ===========

 SUPPLEMENTAL DISCLOSURES
      Cash paid for interest                                        $      --      $      --
                                                                    ===========    ===========
      Cash paid for income taxes                                    $      --      $      --
                                                                    ===========    ===========
      Non-cash Investing Activities:
          Debt converted to equity                                  $      --      $ 1,641,168
                                                                    ===========    ===========


           The accompanying notes are an integral part of these financial statements.

</TABLE>



                                      -8-
<PAGE>


                      BIOFORCE NANOSCIENCES HOLDINGS, INC.
                          Notes to Financial Statements
                               September 30, 2006
                                   (Unaudited)


NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION

         The accompanying  unaudited financial  statements have been prepared by
         the Company pursuant to the rules and regulations of the Securities and
         Exchange  Commission.  Certain  information  and  footnote  disclosures
         normally included in financial  statements  prepared in accordance with
         accounting  principles  generally  accepted  in the  United  States  of
         America have been  condensed or omitted in  accordance  with such rules
         and  regulations.  The information  furnished in the interim  financial
         statements  includes  normal  recurring  adjustments  and  reflects all
         adjustments,  which, in the opinion of management,  are necessary for a
         fair  presentation of such financial  statements.  Although  management
         believes the disclosures and information presented are adequate to make
         the  information  not  misleading,  it is suggested  that these interim
         condensed  financial   statements  be  read  in  conjunction  with  the
         Company's  most recent audited  financial  statements and notes thereto
         included  in its  December  31,  2005  Annual  Report  on Form  10-KSB.
         Operating  results for the three months and nine months ended September
         30, 2006 are not  necessarily  indicative  of the  results  that may be
         expected for the year ending December 31, 2006.

NOTE 2 - GOING CONCERN

         The  Company's  financial   statements  are  prepared  using  generally
         accepted  accounting  principles  applicable to a going concern,  which
         contemplates  the  realization of assets and liquidation of liabilities
         in the normal course of business.  The Company has recorded significant
         losses from  operations  and has limited sales of its  products,  which
         together  raise  substantial  doubt  about its ability to continue as a
         going concern.

         In order to continue as a going concern and achieve a profitable  level
         of operations,  the Company will need, among other things,  to increase
         sales of its productions.

         Management  plans to continue as a going concern  include the following
         items:

         1)   Concentrating  its efforts on increasing  public  awareness of its
              products through direct  marketing,  advertising and the Company's
              Pilot  Placement  Program.  This  program is  designed to seed the
              market  for  the  Nano  eNabler(TM)  (formerly  "NanoArrayer(TM)")
              System by placing  the  instrument  in top tier  laboratories  and
              institutes  ahead of sales.  The  placement  sites are screened to
              estimate the potential  for use of the  instrument in cutting edge
              research  and to  evaluate  whether  funds might be  available  to
              complete a purchase.

         2)   Increasing  its  manufacturing  capabilities  to meet the expected
              demand for its products.

         The ability of the Company to continue as a going  concern is dependent
         upon its ability to successfully accomplish the aforementioned plan and
         eventually attain  profitable  operations.  The accompanying  financial
         statements  do not include any  adjustments  that might be necessary if
         the Company is unable to continue as a going concern.

                                      -9-
<PAGE>


NOTE 3 - SIGNIFICANT EVENTS

         On February 24, 2006, the Company completed the acquisition of BioForce
         Nanosciences,  Inc., a Delaware  corporation  with  operations in Ames,
         Iowa  ("BioForce").  The  acquisition was made pursuant to an agreement
         entered  into on November  30,  2005,  whereby it was agreed to merge a
         newly  created,  wholly-owned  subsidiary,  Silver River  Acquisitions,
         Inc., with and into BioForce,  with BioForce being the surviving entity
         as a wholly owned  subsidiary.  The shareholders of BioForce became the
         controlling  shareholders of the Company;  accordingly,  the historical
         financial  statements  of  BioForce  are  presented  as the  historical
         financial  statements of the Company (i.e. reverse merger  accounting).
         However,  Basic Loss per Share was recomputed  based upon the number of
         shares outstanding after the recapitalization of the Company.

         Prior to  completion  of the  acquisition,  on January  31,  2006,  the
         Company  effected a 2 shares  for 1 share  forward  stock  split of its
         issued and outstanding shares of common stock and, on February 1, 2006,
         it changed its corporate name to BioForce Nanosciences  Holdings,  Inc.
         As a result of the  forward  stock  split,  its  outstanding  shares of
         common stock increased from 1,999,975 shares to 3,999,950 shares. Under
         the terms of the merger  agreement it issued an aggregate of 16 million
         shares  of  its  common  stock,  post-split,  to  the  stockholders  of
         BioForce.  The  Company  also  agreed to issue to  current  holders  of
         BioForce   stock  options  and  warrants,   new  options  and  warrants
         exercisable to purchase  shares of Silver River common stock,  on terms
         and  conditions  equivalent to the existing terms and conditions of the
         respective  BioForce  options  and/or  warrants.  The maximum number of
         shares of BioForce  common stock  available for the conversion of these
         new stock options and warrants will be 2,537,565 shares.

         Prior to the  acquisition  of  BioForce,  the  Company  conducted  only
         limited business  operations  seeking  potential  operating  businesses
         and/or business  opportunities with the intent to acquire or merge with
         such  businesses.  As a result  of the  acquisition  of  BioForce,  the
         Company is now engaged in the  development  of certain  technology  for
         ultramicro-   and  nanoscale   placement   and   patterning  of  active
         biomolecules  and other  materials and  marketing the Nano  eNabler(TM)
         System, the Company's  proprietary  instrumentation/software  platform.
         The Nano  eNabler  System  places  proteins  and other  biological  and
         non-biological  materials  onto silicon chips and other  surfaces.  The
         Company  believes that this technology can be implemented for many uses
         in industries using nanotechnology to produce their products.

         On April 11, 2006,  the Company  granted  100,000 common stock purchase
         options to certain of its directors.  Each stock purchase option allows
         the  holders to purchase  one share of the  Company's  common  stock at
         $4.60 per share.  The  shares  vest 1/3 one year from the date of grant
         and 1/3 at each succeeding anniversary date.

         During the three  months  ended June 30,  2006,  the Company  granted a
         warrant for 100,000  common stock at $1.50 per share to its  investment
         relations firm.  Additionally,  5,938 options at $1.25 per share, which
         were  previously   granted  to  its  employees,   vested.  The  Company
         recognized  $188,945  as  an  expense  for  these  vested  options  and
         warrants.

         In the three  months ended  September  30,  2006,  the Company  granted
         300,000 employee options at $2.50 per share. Employee options vested as
         follows: 5,938 options at $1.25 per share, and 100,000 options at $2.50
         per share.  The  Company  recognized  $58,880  as an expense  for these
         vested options.

                                      -10-
<PAGE>

Item 2. Management's Discussion and Analysis or Plan of Operation.

The  following  information  should be read in  conjunction  with the  financial
statements and notes thereto appearing elsewhere in this Form 10-QSB.

Forward-looking and Cautionary Statements.

This report contains certain forward-looking statements. These statements relate
to future  events or our future  financial  performance  and  involve  known and
unknown risks and uncertainties.  These factors may cause our company's,  or our
industry's actual results, levels of activity, performance or achievements to be
materially  different  from those  expressed  or implied by the  forward-looking
statements.  In some  cases,  you can  identify  forward-looking  statements  by
terminology  such as "may,"  "will"  "should,"  "expects,"  "intends,"  "plans,"
"anticipates,"  "believes," "estimates," "predicts," "potential," "continue," or
the negative of these terms or other comparable terminology.

These statements are only predictions. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance or achievements.

Results of Operations.

Three months ended  September 30, 2006 compared to three months ended  September
30, 2005
--------------------------------------------------------------------------------

During the three months ended September 30, 2006, revenue decreased 10% from the
same period of 2005.  Revenue for 2006 was $31,430,  which is a $3,426  decrease
from fiscal 2005 sales of $34,856.  We had a decrease in  consulting  revenue of
$14,255 and AFM  Solutions  of  $18,675,  which was offset by an increase in our
sales of TipCleaner of $29,988. TipCleaner is a device for cleaning Atomic Force
Microscopy (AFM) probes.

We had no Nano eNabler System  revenues in the third quarter of 2006 or 2005. We
shipped  five Nano  eNabler  Systems in the third  quarter of 2006,  of which we
installed three under the Pilot  Placement  Program,  bringing the  year-to-date
total of Systems  shipped  and  installed  to seven.  By year end we  anticipate
having shipped up to a total of 20 Systems during the year.

We incurred a net loss of $623,096 or $0.03 per share for the three months ended
September  30, 2006 compared to $452,963 or $0.02 per share for the three months
ended September 30, 2005. Included in general and administrative expense in 2006
is $58,880 for the value of options granted to our employees. Excluding this non
cash  expense  our loss for 2006  would have been  $564,216.  Our  research  and
development  costs  decreased  to  $166,565  in 2006 from  $223,449 in 2005 as a
result of  completion  of the bulk of the work on the current  model of the Nano
eNabler System.  However, the funds we were reimbursed from research grants also
decreased  from  $59,135 to $49,688  for the same  reason.  Included in interest
expense in 2005 is $62,144 from the  amortization  of the beneficial  conversion
feature of the convertible debt compared to $-0- in 2006.

Nine months ended September 30, 2006 compared to nine months ended September 30,
2005
--------------------------------------------------------------------------------

During the nine months ended September 30, 2006, revenue increased 309% from the
same period of 2005. Revenue for 2006 was $261,628, which is a $155,337 increase
from fiscal 2005 sales of $106,291. This increase primarily reflects the sale of
a Nano  eNabler  System in the  first  quarter  of 2006.  We had a  decrease  in
consulting  revenue of $21,055 and sales of AFM Solutions of $88,961,  which was
offset by an increase in our sales of TipCleaner of $85,894.

                                      -11-
<PAGE>

For the  first  nine  months  of 2006  our cost of  sales  was 39% of net  sales
compared to 85% in 2005,  due primarily to the sale of a Nano eNabler  System in
the first quarter of 2006.

We  incurred  a net loss of  $2,733,689  or $0.11 per share for the nine  months
ended  September 30, 2006 compared to $1,574,433 or $0.07 per share for the nine
months ended September 30, 2005. Included in general and administrative  expense
in 2006 is $423,228  for the value of  warrants  issued in  connection  with our
private  placement and to a public  relations  consultant,  and vested  employee
options,  and included in interest  expense was $947,317 for the amortization of
the beneficial  conversion feature of our convertible debt.  Excluding these non
cash expenses our loss would have been $1,363,144.  Our research and development
costs  decreased  to $523,125  in 2006 from  $954,514 in 2005 as a result of the
completion  of a majority of the work on the current  model of the Nano  eNabler
System.  However,  the  funds  we were  reimbursed  from  research  grants  also
decreased from $303,081 to $151,117 for the same reason.

Included  in  interest  expense is $947,317  and  $103,840  for the value of the
beneficial  conversion  feature of the Company's  convertible  debt for 2006 and
2005,  respectively.  The debt was  converted  to equity  during  January  2006.
Accordingly,  the Company recognized the unamortized  portion of the discount on
the convertible debt as an expense.

Our  independent  auditors  have  indicated  in  a  footnote  to  our  financial
statements  that due to the research and development  nature of our company,  we
have  sustained  significant  operating  losses and are dependent upon continued
grant  receipts  and debt and equity  financing to fund future  operations.  Our
ability to  continue  as a going  concern is  dependent  on our ability to raise
capital for marketing our products and to increase  revenues to cover  operating
expenses.  If we are unable to secure adequate  financing or increase  revenues,
there is substantial doubt about our ability to continue as a going concern.

Liquidity and Capital Resources.

We have been  financed  through  grants,  loans from  related  parties  and from
raising  capital  through  private  equity  offerings.  We used  $1,739,990  and
$1,395,277 of cash in our operating  activities in the first nine months of 2006
and 2005,  respectively.  This use of cash included $559,536 for the building up
of our Nano eNabler inventory. We also used cash of $245,237 and $448,357 in the
respective  periods to purchase equipment and pay for the costs of patenting our
discoveries.  For the nine months ended September 30, 2006 and 2005, we received
net cash of  $5,280,156  and  $590,200,  respectively,  from the issuance of our
common stock in private placements.  In 2006, we were able to satisfy $1,641,168
of our debt through the issuance of common stock. We expect that in the next ten
months that our cash reserves of  approximately  $3,630,000 will be adequate for
our cash flow.

Our working  capital at September  30, 2006 was  $4,021,331  compared to $-0- at
December 31, 2005.  This increase in working  capital is directly  attributed to
completion of our private placement stock offering in March 2006.

At September 30, 2006, we had total assets of $5,389,540 and total stockholders'
equity of $4,768,585, compared to total assets of $1,422,182 and a stockholders'
equity of $157,722 at December 31, 2005.

We  currently  have no material  commitments  for capital  requirements.  At the
present  time we have no need to  purchase  other new  equipment  or replace the
equipment we are currently using. We believe that our capital  infrastructure is
adequate to handle the expected growth in 2006.

We are not aware of any material trend, event or capital commitment, which would
potentially adversely affect liquidity.  In the event a material trend develops,
we believe we will have  sufficient  funds  available to satisfy working capital
needs through debt or from funds received from equity sales.

                                      -12-
<PAGE>

Dependence on Key Personnel.

We  are  dependent  on  the  services  of  certain  key  people,  including  the
President/Chief  Executive  Officer.  The  loss  of this  person  or  other  key
executives or personnel,  or the inability to attract and retain the  additional
highly skilled employees required for the expansion of our activities,  may have
a material  adverse  effect on our business or future  operations.  We currently
maintain Key-man Life insurance on the President/CEO and certain other executive
officers and personnel who are considered key people.

Item 3. Controls and Procedures.

We maintain disclosure controls and procedures that are designed to be effective
in providing  reasonable  assurance that information required to be disclosed in
our Exchange Act reports is recorded, processed,  summarized and reported within
the time periods specified in the SEC rules and forms, and that such information
is accumulated  and  communicated  to our  management to allow timely  decisions
regarding required disclosure.

In designing  and  evaluating  disclosure  controls and  procedures,  management
recognizes  that any controls and  procedures,  no matter how well  designed and
operated,  can provide only reasonable,  not absolute assurance of achieving the
desired  objectives.  Also, the design of a control system must reflect the fact
that  there are  resource  constraints  and the  benefits  of  controls  must be
considered relative to their costs.  Because of the inherent  limitations in all
control systems,  no evaluation of controls can provide absolute  assurance that
all control  issues and instances of fraud,  if any, have been  detected.  These
inherent limitations include the realities that judgments in decision-making can
be faulty and that breakdowns can occur because of simple error or mistake.  The
design of any system of controls is based,  in part,  upon  certain  assumptions
about the  likelihood  of future  events and there can be no assurance  that any
design will succeed in achieving  its stated  goals under all  potential  future
conditions.

As of  the  end of  the  period  covered  by  this  report,  we  carried  out an
evaluation,  under the  supervision  and with the  participation  of management,
including our chief executive officer and acting principal financial officer, of
the  effectiveness  of the design and operation of our  disclosure  controls and
procedures  as defined in Rules  13a-15(e)  and  15d-15(e) of the Exchange  Act.
Based upon that evaluation,  management  concluded that our disclosure  controls
and  procedures  in place do provide  reasonable  assurance  that all  necessary
disclosures are communicated as required.

There was no change in our internal controls over financial reporting identified
in connection with the requisite evaluation that occurred during our last fiscal
quarter that has  materially  affected,  or is  reasonably  likely to materially
affect, our internal control over financial reporting.

On October 2, 2006, we received Guenter H. Jaensch's  resignation as a director.
Dr. Jaensch had been appointed as chairman of our audit committee, which to date
has not become  operative nor have we adopted a formal audit committee  charter.
We  anticipate  that at the next  regularly  scheduled  meeting  of our board of
directors,  the  directors  will  consider  the  merits  of  employing  an audit
committee at this time.


PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

We are subject to potential  liability  under  contractual and other matters and
various  claims and legal actions which may be asserted.  These matters arise in
the  ordinary  course and  conduct  of our  business.  While the  outcome of the


                                      -13-
<PAGE>

potential claims and legal actions against us cannot be forecast with certainty,
we believe that such matters should not result in any liability which would have
a material adverse effect on our business.  Currently, we are not subject to any
material pending legal  proceedings  and, to the best of our knowledge,  no such
actions against us are contemplated or threatened except as set forth below.

Our wholly owned subsidiary, BioForce Nanosciences, Inc. ("BioForce"),  received
notice on November 30, 2005 that NanoInk,  Inc.  filed with the U.S.  Patent and
Trademark  Office a request  for  re-examination  with  respect  to U.S.  Patent
6,573,369. The USPTO granted the request for re-examination. Upon re-examination
of the patent in question the USPTO initially rejected  BioForce's claims to the
technology.  BioForce  then  submitted  a response  to this  office  action with
arguments  designed to circumvent some or all of the initial claims  rejections.
The outcome of this action is pending.  Because  this patent is not  critical to
BioForce's current business,  we anticipate that an unfavorable result would not
have a negative impact on our business.

Item 2. Unregistered Sales of Equity 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.

        (a) Exhibits

            Exhibit 31.1   Certification  of C.E.O.  Pursuant  to Section 302 of
                           the Sarbanes-Oxley Act of 2002.

            Exhibit 31.2   Certification   of   Principal   Accounting   Officer
                           Pursuant to Section 302 of the  Sarbanes-Oxley Act of
                           2002.

            Exhibit 32.1   Certification of C.E.O. Pursuant to 18 U.S.C. Section
                           1350,  as  Adopted  Pursuant  to  Section  906 of the
                           Sarbanes-Oxley Act of 2002

            Exhibit 32.2   Certification   of   Principal   Accounting   Officer
                           Pursuant  to  18  U.S.C.  Section  1350,  as  Adopted
                           Pursuant to Section 906 of the  Sarbanes-Oxley Act of
                           2002


       (b) Reports on Form 8-K

The following reports were filed with the SEC on Form 8-K during the three-month
period ended September 30, 2006.

         August 7, 2006 - (amendment to Form 8-K filed on March 2, 2006)
         reporting under Item 9.01 the inclusion of new audited financial
         statements for BioForce Nanosciences, Inc. that was acquired in
         February 2006 and reported on Form 8-K on March 2, 2006.

                                      -14-
<PAGE>

         August 7, 2006 - reporting under Item 4.01 that the former auditors of
         BioForce Nanosciences, Inc., McGowen Hurst Clark & Smith, would not be
         retained.

         August 7, 2006 -  reporting  under Item 4.01 the change in  independent
         certifying accountants.

         September  26,  2006 -  reporting  under  Item 7.01 two press  releases
         regarding funding and product placement.




                                   SIGNATURES

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




                                         BioForce Nanosciences Holdings, Inc.


Date:    November 17, 2006                / s / Eric Henderson
                                         --------------------------------------
                                          Eric Henderson
                                          Chief Executive Officer and Director
                                          (Principal Accounting Officer)




                                      -15-