UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   Form 10-QSB



(Mark one)

[X]  Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act
     of 1934

                  For the quarterly period ended March 31, 2006

[ ]  Transition Report Under Section 13 or 15(d) of the Securities Exchange
     Act of 1934

         For the transition period from ______________ to _____________



                        Commission File Number: 000-51185

                       Signet International Holdings, Inc.
        (Exact name of small business issuer as specified in its charter)

       Delaware                                           98-0403551
(State of incorporation)                            (IRS Employer ID Number)

             205 Worth Avenue, Suite 316, Palm Beach, Florida 33480
             ------------------------------------------------------
                    (Address of principal executive offices)

                                 (561) 832-2000
                          (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 each of the issuer's classes of common
equity as of the latest practicable date: May 12, 2006: 3,902,000

Transitional Small Business Disclosure Format (check one):    YES       NO X


<PAGE>


                       Signet International Holdings, Inc.

                Form 10-QSB for the Quarter ended March 31, 2006

                                Table of Contents


                                                                            Page
Part I - Financial Information

  Item 1 Financial Statements                                                 3

  Item 2 Management's Discussion and Analysis or Plan of Operation           12

  Item 3 Controls and Procedures                                             14


Part II - Other Information

  Item 1 Legal Proceedings                                                   14

  Item 2 Recent Sales of Unregistered Securities and Use of Proceeds         14

  Item 3 Defaults Upon Senior Securities                                     15

  Item 4 Submission of Matters to a Vote of Security Holders                 15

  Item 5 Other Information                                                   15

  Item 6 Exhibits                                                            15


Signatures                                                                   15



<PAGE>


Item 1
Part 1 - Financial Statements



<PAGE>

<TABLE>


               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)
                           Consolidated Balance Sheets
                             March 31, 2006 and 2005

                                   (Unaudited)

<CAPTION>

                                                                      March 31,           March 31,
                                                                         2006               2005
                                     ASSETS
Current Assets
<S>                                                                   <C>                <C>
   Cash in bank                                                       $ 354,512          $       -
                                                                      ---------          ---------

Total Assets                                                          $ 354,512          $       -
                                                                      =========          =========


                 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

Liabilities
   Current Liabilities
     Note payable                                                     $  90,000          $       -
     Accounts payable - trade                                             8,800                  -
     Other accrued liabilities                                           40,125             29,750
     Accrued officer compensation                                       165,920             99,170
                                                                      ---------          ---------

     Total Current Liabilities                                          311,628            128,920
                                                                      ---------          ---------


Commitments and Contingencies


Shareholders' Equity (Deficit)
   Preferred stock - $0.001 par value
     50,000,000 shares authorized
     5,000,000 and 4,000,000 shares
     issued and outstanding, respectively                                 5,000              4,000
   Common stock - $0.001 par value
     100,000,000 shares authorized.
     3,902,000 and 3,364,000 shares
       issued and outstanding, respectively                               3,902              3,364
   Additional paid-in capital                                           537,792             97,290
   Deficit accumulated during the development stage                    (453,810)          (198,574)
                                                                      ---------          ---------
                                                                         92,884            (93,920)
   Treasury stock - at cost (50,000 shares)                             (50,000)                 -
   Stock subscription receivable                                                    -      (35,000)
                                                                      ---------          ---------

   Total Shareholders' Equity (Deficit)                                  42,884           (128,920)
                                                                      ---------          ---------

   Total Liabilities and Shareholders' Equity                         $ 354,512          $       -
                                                                      =========          =========

</TABLE>



               The financial information presented herein has been
               prepared by management without audit by independent
                          certified public accountants.
   The accompanying notes are an integral part of these financial statements.
                                       1

<PAGE>

<TABLE>

               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)
          Consolidated Statements of Operations and Comprehensive Loss
                 Three months ended March 31, 2006 and 2005 and
     Period from October 17, 2003 (date of inception) through March 31, 2006

                                   (Unaudited)

<CAPTION>

                                                                                   Period from
                                                                                October 17, 2003
                                                                                    (date of
                                                 Three months      Three months     inception)
                                                    ended             ended          through
                                                  March 31,         March 31,       March 31,
                                                    2006              2005            2006

<S>                                                <C>             <C>             <C>
Revenues                                           $        --     $        --     $        --

Expenses
   Organizational and formation expenses                    --              --          89,801
   Officer compensation                                 17,500          17,500         169,170
   Other salaries                                        9,000           5,250          44,250
   Other general and administrative expenses            22,408           4,908          87,376
                                                   -----------     -----------     -----------
   Total Expenses                                       48,908          27,658         390,597
                                                   -----------     -----------     -----------

Loss from Operations                                   (48,908)        (27,658)       (390,597)

Other Expense
   "Compensation expense" related to sale
      of common stock at less than "fair value"             --              --         (56,430)
   Interest expense                                     (2,219)             --          (6,783)
                                                   -----------     -----------     -----------

Loss before Provision for Income Taxes                 (51,127)        (27,658)       (453,810)

Provision for Income Taxes                                  --              --              --
                                                   -----------     -----------     -----------

Net Loss                                               (51,127)        (27,658)       (453,810)

Other Comprehensive Income                                  --              --              --
                                                   -----------     -----------     -----------

Comprehensive Loss                                 $   (51,127)    $   (27,658)    $  (453,810)
                                                   ===========     ===========     ===========


Loss per weighted-average share
   of common stock outstanding,
   computed on Net Loss -
   basic and fully diluted                         $     (0.01)    $     (0.01)    $     (0.13)
                                                   ===========     ===========     ===========

Weighted-average number of shares
   of common stock outstanding                       3,887,167       3,464,000       3,498,795
                                                   ===========     ===========     ===========
</TABLE>


               The financial information presented herein has been
               prepared by management without audit by independent
                          certified public accountants.
   The accompanying notes are an integral part of these financial statements.
                                       2
<PAGE>

<TABLE>

               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)
                      Consolidated Statements of Cash Flows
                 Three months ended March 31, 2006 and 2005 and
     Period from October 17, 2003 (date of inception) through March 31, 2006

                                   (Unaudited)

<CAPTION>

                                                                                                  Period from
                                                                                                October 17, 2003
                                                                                                   (date of
                                                                 Three months      Three months     inception)
                                                                   ended             ended          through
                                                                  March 31,         March 31,      March 31,
                                                                     2006            2005             2006

Cash Flows from Operating Activities
<S>                                                              <C>              <C>              <C>
   Net Loss                                                      $ (51,127)       $ (27,658)       $(453,810)
   Adjustments to reconcile net income to net cash
     provided by operating activities
       Depreciation                                                     --               --               --
       Organizational expenses paid with issuance
         of common and preferred stock                                  --               --           50,810
       "Compensation expense" related
         to sale of common stock at
         less than "fair value"                                         --               --           56,430
       Increase (Decrease) in
         Accrued liabilities                                        21,769            5,250           55,708
         Accrued officers compensation                              17,500           17,500          165,920
                                                                 ---------        ---------        ---------

Net cash used in operating activities                              (11,858)          (4,908)        (124,942)
                                                                 ---------        ---------        ---------


Cash Flows from Investing Activities                                    --               --               --
                                                                 ---------        ---------        ---------


Cash Flows from Financing Activities
   Cash proceeds from note payable                                      --               --           90,000
   Cash proceeds from sale of common stock                          15,000               --          416,089
   Purchase of treasury stock                                      (50,000)              --          (50,000)
   Cash paid to acquire capital                                         --               --          (10,447)
   Capital contributed to support operations                            --            4,908           33,812
                                                                 ---------        ---------        ---------

Net cash provided by financing activities                          (35,000)           4,908          479,454
                                                                 ---------        ---------        ---------

Increase (Decrease) in Cash and Cash Equivalents                   (46,858)              --          354,512

Cash and cash equivalents at beginning of period                   401,370               --               --
                                                                 ---------        ---------        ---------

Cash and cash equivalents at end of period                       $ 354,512        $      --        $ 354,512
                                                                 =========        =========        =========

Supplemental Disclosures of Interest and Income Taxes Paid
   Interest paid during the period                               $      --        $      --        $      --
                                                                 =========        =========        =========
   Income taxes paid (refunded)                                  $      --        $      --        $      --
                                                                 =========        =========        =========

</TABLE>

               The financial information presented herein has been
               prepared by management without audit by independent
                          certified public accountants.
   The accompanying notes are an integral part of these financial statements.
                                       3
<PAGE>

               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)

                   Notes to Consolidated Financial Statements


Note A - Organization and Description of Business

Signet International Holdings, Inc. (Company) was incorporated on February 2,
2005 under the Laws of the State of Delaware as 51142, Inc. The Company's
initial business plan was to engage in any lawful corporate undertaking,
including, but not limited to, selected mergers and acquisitions.

On September 8, 2005, pursuant to a Stock Purchase Agreement and Share Exchange
(Agreement) by and among the Company, Signet Entertainment Corporation (SIG) and
the shareholders of Signet Entertainment Corporation (a private Florida
corporation) (Shareholders) (collectively SIG and the SIG shareholders shall be
known as SIG Group); the Company acquired 100.0% of the then issued and
outstanding shares of SIG in exchange for the issuance of an aggregate 3,421,000
shares of the Company's common stock to the SIG shareholders. Pursuant to the
Agreement, SIG became a wholly owned subsidiary of the Company. At the
transaction date, the then-sole shareholder of the Company was also the
controlling shareholder, chief executive officer and director of SIG.

Signet Entertainment Corporation (SIG) was incorporated on October 17, 2003 in
accordance with the Laws of the State of Florida. SIG was formed to establish a
television network "The Gaming and Entertainment Network".

The acquisition of the SIG by the Company effected a change in control of the
Company and will be accounted for as a "reverse acquisition" whereby the Company
is the accounting acquiror for financial statement purposes. Accordingly, for
all periods subsequent to the combination transaction, the financial statements
of the Signet International Holdings, Inc. will reflect the historical financial
statements of the Company and the operations of Signet International Holdings,
Inc. subsequent to the transaction date.

The Company is considered in the development stage and, as such, has generated
no significant operating revenues and has incurred cumulative operating losses
of approximately $453,800.


Note B - Preparation of Financial Statements

The acquisition of the SIG by the Company effected a change in control of the
Company and will be accounted for as a "reverse acquisition" whereby the SIG is
the accounting acquiror for financial statement purposes. Accordingly, for all
periods subsequent to the combination transaction, the financial statements of
the Signet International Holdings, Inc. will reflect the historical financial
statements of the SIG and the operations of Signet International Holdings, Inc.
subsequent to the transaction date.

The Company follows the accrual basis of accounting in accordance with
accounting principles generally accepted in the United States of America and has
a year-end of December 31.

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.

Management further acknowledges that it is solely responsible for adopting sound
accounting practices, establishing and maintaining a system of internal
accounting control and preventing and detecting fraud. The Company's system of
internal accounting control is designed to assure, among other items, that 1)
recorded transactions are valid; 2) valid transactions are recorded; and 3)
transactions are recorded in the proper period in a timely manner to produce
financial statements which present fairly the financial condition, results of
operations and cash flows of the Company for the respective periods being
presented.

During interim periods, the Company follows the accounting policies set forth in
its annual audited financial statements filed with the U. S. Securities and
Exchange Commission on its Annual Report on Form 10-KSB which contains the
Company's audited financial statements for the year ended December 31, 2005. The
information presented within these interim financial statements may not include
all disclosures required by generally accepted accounting principles and the
users of financial information provided for interim periods should refer to the
annual financial information and footnotes when reviewing the interim financial
results presented herein.



<PAGE>


               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)

             Notes to Consolidated Financial Statements - Continued


Note B - Preparation of Financial Statements - Continued

In the opinion of management, the accompanying interim financial statements,
prepared in accordance with the U. S. Securities and Exchange Commission's
instructions for Form 10-QSB, are unaudited and contain all material
adjustments, consisting only of normal recurring adjustments necessary to
present fairly the financial condition, results of operations and cash flows of
the Company for the respective interim periods presented. The current period
results of operations are not necessarily indicative of results which ultimately
will be reported for the full fiscal year ending December 31, 2006.


Note C - Going Concern Uncertainty

The Company is still in the process of developing it's business plan and raising
capital. As such, the Company is considered to be a development stage company.

The Company's continued existence is dependent upon its ability to generate
sufficient cash flows from operations to support its daily operations as well as
provide sufficient resources to retire existing liabilities and obligations on a
timely basis.

The Company anticipates future sales of equity securities to facilitate either
the consummation of a business combination transaction or to raise working
capital to support and preserve the integrity of the corporate entity. However,
there is no assurance that the Company will be able to obtain additional funding
through the sales of additional equity securities or, that such funding, if
available, will be obtained on terms favorable to or affordable by the Company.

If no additional operating capital is received during the next twelve months,
the Company will be forced to rely on existing cash in the bank and upon
additional funds loaned by management and/or significant stockholders to
preserve the integrity of the corporate entity at this time. In the event, the
Company is unable to acquire advances from management and/or significant
stockholders, the Company's ongoing operations would be negatively impacted.

It is the intent of management and significant stockholders to provide
sufficient working capital necessary to support and preserve the integrity of
the corporate entity. However, no formal commitments or arrangements to advance
or loan funds to the Company or repay any such advances or loans exist. There is
no legal obligation for either management or significant stockholders to provide
additional future funding.

While the Company is of the opinion that good faith estimates of the Company's
ability to secure additional capital in the future to reach our goals have been
made, there is no guarantee that the Company will receive sufficient funding to
sustain operations or implement any future business plan steps.


Note D - Summary of Significant Accounting Policies

1.   Cash and cash equivalents

     For Statement of Cash Flows purposes, the Company considers all cash on
     hand and in banks, certificates of deposit and other highly-liquid
     investments with maturities of three months or less, when purchased, to be
     cash and cash equivalents.

2.   Organization costs

     The Company has adopted the provisions of AICPA Statement of Position 98-5,
     "Reporting on the Costs of Start-Up Activities" whereby all organizational
     and initial costs incurred with the incorporation and initial
     capitalization of the Company were charged to operations as incurred.

3.   Research and development expenses

     Research and development expenses are charged to operations as incurred.


<PAGE>


               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)

             Notes to Consolidated Financial Statements - Continued


Note D - Summary of Significant Accounting Policies - Continued

4.   Advertising expenses

     The Company does not utilize direct solicitation advertising. All other
     advertising and marketing expenses are charged to operations as incurred.

5.   Income Taxes

     The Company uses the asset and liability method of accounting for income
     taxes. At March 31, 2006 and 2005, respectively, the deferred tax asset and
     deferred tax liability accounts, as recorded when material to the financial
     statements, are entirely the result of temporary differences. Temporary
     differences represent differences in the recognition of assets and
     liabilities for tax and financial reporting purposes, primarily accumulated
     depreciation and amortization, allowance for doubtful accounts and vacation
     accruals.

     As of March 31, 2006 and 2005, the deferred tax asset related to the
     Company's net operating loss carryforward is fully reserved. Due to the
     provisions of Internal Revenue Code Section 338, the Company may have no
     net operating loss carryforwards available to offset financial statement or
     tax return taxable income in future periods as a result of a change in
     control involving 50 percentage points or more of the issued and
     outstanding securities of the Company.

6.   Earnings (loss) per share

     Basic earnings (loss) per share is computed by dividing the net income
     (loss) available to common shareholders by the weighted-average number of
     common shares outstanding during the respective period presented in our
     accompanying financial statements.

     Fully diluted earnings (loss) per share is computed similar to basic income
     (loss) per share except that the denominator is increased to include the
     number of common stock equivalents (primarily outstanding options and
     warrants).

     Common stock equivalents represent the dilutive effect of the assumed
     exercise of the outstanding stock options and warrants, using the treasury
     stock method, at either the beginning of the respective period presented or
     the date of issuance, whichever is later, and only if the common stock
     equivalents are considered dilutive based upon the Company's net income
     (loss) position at the calculation date.

     At March 31, 2006 and 2005, and subsequent thereto, the Company's issued
     and outstanding preferred stock is considered anti-dilutive due to the
     Company's net operating loss position.


Note E - Fair Value of Financial Instruments

The carrying amount of cash, accounts receivable, accounts payable and notes
payable, as applicable, approximates fair value due to the short term nature of
these items and/or the current interest rates payable in relation to current
market conditions.

Interest rate risk is the risk that the Company's earnings are subject to
fluctuations in interest rates on either investments or on debt and is fully
dependent upon the volatility of these rates. The Company does not use
derivative instruments to moderate its exposure to interest rate risk, if any.

Financial risk is the risk that the Company's earnings are subject to
fluctuations in interest rates or foreign exchange rates and are fully dependent
upon the volatility of these rates. The company does not use derivative
instruments to moderate its exposure to financial risk, if any.



<PAGE>


               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)

             Notes to Consolidated Financial Statements - Continued


Note F - Note Payable

Note payable consists of the following at March 31, 2006 and 2005, respectively:
<TABLE>

                                                               March 31,         March 31,
                                                                 2006              2005
<S>                                                            <C>               <C>
$90,000 note payable to an individual. Interest at 10.0%.
   Principal and accrued interest due at maturity in June
   2006. Collateralized by controlling interest in the
   common stock of Signet International Holdings, Inc.
   Note fully funded in July 2005.                             $90,000           $       -
                                                               =======            ========
</TABLE>


Note G - Income Taxes

The components of income tax (benefit) expense for each of the three month
periods ended March 31, 2006 and 2005 and for the period from October 17, 2003
(date of inception) through March 31, 2006, are as follows:
<TABLE>
<CAPTION>

                                                               Period from
                                                                October 17,
                                                                2003 (date
                            Three months     Three months      of inception)
                               ended            ended            through
                              March 31,        March 31,         March 31,
                                2006            2005              2006
       Federal:
<S>                            <C>              <C>              <C>
         Current               $     -          $    -           $     -
         Deferred                    -               -                 -
                               -------          ------            ------
                                     -               -                 -
                               -------          ------            ------
       State:
         Current                     -               -                 -
         Deferred                    -               -                 -
                               -------          ------            ------
                                     -               -                 -
                               -------          ------            ------
         Total                 $     -          $    -           $     -
                                ======          ======            ======
</TABLE>

As of March 31, 2006, the Company has a net operating loss carryforward of
approximately $300,000 for Federal and State income tax purposes.. The amount
and availability of any future net operating loss carryforwards may be subject
to limitations set forth by the Internal Revenue Code. Factors such as the
number of shares ultimately issued within a three year look-back period; whether
there is a deemed more than 50 percent change in control; the applicable
long-term tax exempt bond rate; continuity of historical business; and
subsequent income of the Company all enter into the annual computation of
allowable annual utilization of the carryforwards.




                (Remainder of this page left blank intentionally)



<PAGE>


               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)

             Notes to Consolidated Financial Statements - Continued


Note G - Income Taxes - Continued

The Company's income tax expense (benefit) each of the three month periods ended
March 31, 2006 and 2005 and for the period from October 17, 2003 (date of
inception) through March 31, 2006, respectively, differed from the statutory
federal rate of 34 percent as follows:
<TABLE>
<CAPTION>
                                                                                    Period from
                                                                                    October 17,
                                                                                    2003 (date
                                                Three months     Three months      of inception)
                                                    ended            ended            through
                                                  March 31,        March 31,         March 31,
                                                    2006             2005              2006
<S>                                              <C>              <C>              <C>
Statutory rate applied to
   income before income taxes                    $ (17,400)       $  (9,400)       $(154,300)
Increase (decrease) in income taxes
   resulting from:
     State income taxes                                 --               --               --
     Non-deductible officers compensation            5,950            5,950           56,400
     Other, including reserve for deferred
       tax asset and application of net
       operating loss carryforward                  11,450            3,450           97,900
                                                 ---------        ---------        ---------

Income tax expense                               $      --        $      --        $      --
                                                 =========        =========        =========
</TABLE>

Temporary differences, consisting primarily of the prospective usage of net
operating loss carryforwards give rise to deferred tax assets and liabilities as
of March 31, 2006 and 2005, respectively:
<TABLE>
<CAPTION>
                                                                   March 31,        March 31,
                                                                     2006             2005
       Deferred tax assets
<S>                                                               <C>              <C>
         Net operating loss carryforwards                         $  97,900        $  33,800
         Officer compensation deductible when paid                   56,400           33,700
         Less valuation allowance                                  (154,300)         (67,500)
                                                                   --------          -------

         Net Deferred Tax Asset                                   $       -        $       -
</TABLE>


Note H - Preferred Stock

The Company's By-Laws allow for the issuance of up to 50,000,000 shares of
$0.001 par value Preferred Stock.

Holders of shares of preferred stock are entitled to one vote for each share on
all matters to be voted on by the stockholders. Holders of preferred stock do
not have cumulative voting rights. Holders of preferred stock are entitled to
share ratably in dividends, if any, as may be declared from time to time by the
Board of Directors in its discretion from funds legally available therefore. In
the event of a liquidation, dissolution or winding up of the Company, the
holders of preferred stock are entitled to share pro rata all assets remaining
after payment in full of all liabilities. All of the outstanding shares of
preferred stock are fully paid and non-assessable. Holders of preferred stock
have no preemptive rights to purchase our preferred stock. There are no
conversion or redemption rights or sinking fund provisions with respect to the
preferred stock.

The Board of Directors has the authority, without further action by the
shareholders, to issue from time to time the preferred stock in one or more
series for such consideration and with such relative rights, privileges,
preferences and restrictions that the Board may determine. The preferences,
powers, rights and restrictions of different series of preferred stock may
differ with respect to dividend rates, amounts payable on liquidation, voting
rights, conversion rights, redemption provisions, sinking fund provisions and
purchase funds and other matters. The issuance of preferred stock could
adversely affect the voting power or other rights of the holders of common
stock.


<PAGE>


               Signet International Holdings, Inc. and Subsidiary
                        (a development stage enterprise)

             Notes to Consolidated Financial Statements - Continued


Note H - Preferred Stock - Continued

On October 20, 2003, in conjunction with the formation and incorporation of the
Company, the Company issued 4,000,000 shares of preferred stock to the
incorporating persons.

On July 19, 2005, the Company issued 1,000,000 shares of preferred stock to an
existing shareholder and Company officer for services related to the
organization and structuring of the Company and it's proposed business plan.


Note I - Common Stock Transactions

On October 17, 2003 and November 1, 2003, in connection with the incorporation
and formation of the Company, an aggregate of approximately 3,294,000 shares of
restricted, unregistered shares of common stock and were issued to various
founding individuals. This combined preferred stock and common stock issuances
were collectively valued at approximately $40,810, which approximated the fair
value of the time provided by the individuals and the related out-of-pocket
expenses.

On June 16, 2004 and December 3, 2004, the Company sold, in three separate
transactions to three unrelated individuals, an aggregate 70,000 shares of
restricted, unregistered common stock for $35,000 cash. These shares were sold
pursuant to an exemption from registration under Section 4(2) of the Securities
Act of 1933, as amended, and no underwriter was used any of the three
transactions.

Between July 20, 2005 and August 26, 2005, the Company sold an aggregate 57,000
shares of common stock to existing and new shareholders at a price of $0.01 per
share for gross proceeds of approximately $570. As this selling price was
substantially below the "fair value" of comparable transactions, the Company
will recognize a charge to operations equivalent to the difference between the
established "fair value" of $1.00 per share (as determined by the pricing in the
September 2005 Private Placement Memorandum) and the selling price of $0.01 per
share as "Compensation expense related to common stock sold at less than "fair
value".

On September 9, 2005, the Company commenced the sale of common stock pursuant to
a Private Placement Memorandum in a self-underwritten offering. This Memorandum
is offering for sale to persons who qualify as accredited investors and to a
limited number of sophisticated investors, on a best efforts basis, up to
2,000,000 of our common shares at $1.00 per share, for anticipated gross
proceeds of $2,000,000. The common shares will be offered through the Company's
officers and directors on a best-efforts basis. The minimum investment is
$1,000, however, the Company might, at it's sole discretion, accept
subscriptions for lesser amounts. Funds received from all subscribers will be
released to the Company upon acceptance of the subscriptions by the Company's
management. Through March 31, 2006, the Company has sold 381,000 shares for
gross proceeds of $381,000 under this Memorandum.

On March 31, 2006, the Company repurchased 50,000 shares of common stock from
the estate of a deceased shareholder which purchased said shares pursuant to the
aforementioned September 2005 Private Placement Memorandum for $50,000 cash.





                (Remainder of this page left blank intentionally)


<PAGE>


Part I - Item 2

Management's Discussion and Analysis of Financial Condition and Results of
Operations

(1)  Caution Regarding Forward-Looking Information

Certain statements contained in this quarterly filing, including, without
limitation, statements containing the words "believes", "anticipates", "expects"
and words of similar import, constitute forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
the Company, or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.

Such factors include, among others, the following: international, national and
local general economic and market conditions: demographic changes; the ability
of the Company to sustain, manage or forecast its growth; the ability of the
Company to successfully make and integrate acquisitions; raw material costs and
availability; new product development and introduction; existing government
regulations and changes in, or the failure to comply with, government
regulations; adverse publicity; competition; the loss of significant customers
or suppliers; fluctuations and difficulty in forecasting operating results;
changes in business strategy or development plans; business disruptions; the
ability to attract and retain qualified personnel; the ability to protect
technology; and other factors referenced in this and previous filings.

Given these uncertainties, readers of this Form 10-QSB and investors are
cautioned not to place undue reliance on such forward-looking statements. The
Company disclaims any obligation to update any such factors or to publicly
announce the result of any revisions to any of the forward-looking statements
contained herein to reflect future events or developments.

(2) Results of Operations, Liquidity and Capital Resources or Plan of Operation

Quarters Ended March 31, 2006 and 2005

The Company had no revenue for either of the respective three month periods
ended March 31, 2006 and 2005, respectively.

General and administrative expenses for each of the three month periods ended
March 31, 2006 and 2005 were approximately $48,900 and $27,700, respectively.
The Company received gross funds totaling approximately $90,000 through the end
of July 2005. Interest expense on these borrowed funds totaled approximately
$2,200 for the three months ended March 31, 2006.

Net loss for the three months ended March 31, 2006 and 2005, respectively, were
approximately $(51,100) and $(27,700). Earnings per share for the respective
three month periods ended March 31, 2006 and 2005 was approximately $(0.01) and
$(0,01) on the weighted-average shares issued and outstanding.

The Company does not expect to generate any meaningful revenue or incur
operating expenses for purposes other than fulfilling the obligations of a
reporting company under The Securities Exchange Act of 1934 unless and until
such time that the Company's operating subsidiary begins meaningful operations.

At March 31, 2006 and 2005, respectively, the Company had working capital of
approximately $43,000 and $(128,920).

It is the intent of management and significant stockholders, if necessary, to
provide sufficient working capital necessary to support and preserve the
integrity of the corporate entity. However, there is no legal obligation for
either management or significant stockholders to provide additional future
funding. Should this pledge fail to provide financing, the Company has not
identified any alternative sources. Consequently, there is substantial doubt
about the Company's ability to continue as a going concern.

The Company's need for capital may change dramatically as a result of any
business acquisition or combination transaction. There can be no assurance that
the Company will identify any such business, product, technology or company
suitable for acquisition in the future. Further, there can be no assurance that
the Company would be successful in consummating any acquisition on favorable
terms or that it will be able to profitably manage the business, product,
technology or company it acquires.

Plan of Business

Signet Entertainment was incorporated on October 17, 2003 for the purpose of
launching a Gaming and Entertainment Television Network (Network). The Network
will cover major Poker and Blackjack tournaments as well as other major high
stakes casino games. The Network will also cover via satellite and cable other
major sports events such as horse racing and selected global events which have a
sports and entertainment format. Signet Entertainment's largest source of
revenue will come from advertising, specifically from various resorts and
casinos, liquor and tobacco companies and sporting sites in North and South
America, Europe, Asia and Africa. Signet Entertainment will realize income from
infomercials and sports and entertainment programming that offer subject matter
that are all-encompassing to the network's format. Signet Entertainment has been
creating future programming which includes "The Television Charity Channel"
which will feature regularly scheduled weekly programming.

Signet Entertainment has executed a long-term contract with Mr. Richard Grad,
President and CEO of Triple Play Media Management, Inc. and with Mr. C Haifley,
President and Chief Operating officer of Big Vision, Incorporated. Signet
Entertainment's primary endeavor is to financially and administratively support
Triple Play's ready-to-launch, new television network. The Triple Play
enterprise is exclusively contracted to Signet Entertainment. Mr. Grad has
organized his associates who have logged years of collaborative creating,
hosting, producing and directing TV shows, which have afforded them the contacts
necessary to contract and retain the professional services of the nation's
foremost experts in specialized methodologies such as digital satellite
technology systems. The Triple Play team has designed and coordinated the format
for its ready to launch TV Network, "The Gaming & Entertainment Network."

Triple Play's programming niche is "gaming." Presently, there are no channels
specifically formatted for the gaming customer whose interest is focused on the
vast variety of gaming activities, domestically as well as internationally,
including "sports and entertainment."

The Gaming & Entertainment Network will cover major tournaments, such as the
World Series of Poker, the championship Blackjack play-offs, and coverage of the
high stakes major table games, especially those from Hong Kong, South America
and the Outback of Australia. The activities in the Las Vegas, Reno and
Laughlin, Nevada areas, and various Florida venues alone, host high stakes
tournaments on a daily basis. Triple Play will produce domestic and
international feeds covering thoroughbred and quarter-horse racing; coverage of
fluctuation and trends within sports books from selected locations around the
world; scheduled hourly updating of betting lines on sporting events; and a
remote coverage of all betting sports, to delivering our personal insight and
commentary, live from the sites of origination. Handicapping shows will feature
the "how-to" of betting, who's betting, and why.

Triple Play has developed original clinic workshop formats on every type of
betting skill in sports and racing events. Program development has been underway
to deliver featured stories in the entertainment scene in all of the major
gaming communities as well as the gaming industry itself. Triple Play will offer
viewer participation through contests, whereby viewers may bet with each other
through participating sports books. Through its international downlinks, Triple
Play will produce live Simulcast coverage, whereby a viewer in Scotland may
secure odds on a game in Spain, while both can watch the action and the results
simultaneously in their native language. Updates at the top and bottom of the
hour, twenty-four hours a day will provide the viewer with all the information
available.

This type of network is unique to the television industry. The Gaming &
Entertainment Network is one of a kind. Signet Entertainment believes that this
is truly an untapped market - the only market left in the broadcasting industry
to name only a few, capable of producing a tremendous profit generating source
of revenues, thanks to the enormous commercial advertising revenue potential
realized from just the hotel/casino/travel industry. Signet Entertainment has
estimated that the sales revenues from these industries alone, after the first
year, will not only cover operating costs and expenses thereafter, but also,
within the next eighteen months, return sufficient revenue to pay for all the
initial capital expenditures of the modular trucks and studios, including
equipment and the cost of our own satellite.

The sales efforts of the Triple Play marketing team has been approached by two
of the largest syndicators who have expressed their eagerness to cooperate in
our airing all their college sports events, including the major conference
playoffs. These games will be aired in North America to a minimum of twenty
million households and to the ninety-eight million households in Europe.

Along with and part of the gaming and sports coverage, Triple Play will offer
shows exploring the insights of the hotel and casino business; offer original
formatted airing of special events taking place in the hotels and casinos around
the world, including profiles of the shows and headliners, their acts and
silhouetting behind the scenes action. Triple Play will feature a newly
developed format called Dialing for Dollars, Satellite Pay Per View Bingo,
(Approved and substantiated with legal opinion by the Federal Communications
Commission). Triple Play will also exclusively produce the internationally
popular, swimwear pageants

The demand for infomercials airtime is constantly growing along with the
telecasting revenues realized. In 2003, the infomercial industry reported a
$64.0 Billion business and 2004 is expected to surpass the earlier years'
accomplishments. Infomercial time is currently being sold for an average in
excess of $110,000 per taped half hour unit. Triple Play has selected and
accepted three hours (6 units) reserved for each 24-hour period on a basis of a
minimum of 50 airings (300) each per year. These infomercials will be viewed in
five continents and most uniquely-in their native language. Triple Play has set
aside approximately four hours a day for this format. Infomercials will be
critically selected upon quality of production and quality of product and
international acceptance. Triple Play has been approached by cigarette and
liquor advertisers' requests as well, for the Company's consideration to sell
commercial time to be aired in the foreign markets.

In addition to the exclusive contract with Triple Play whose primary purpose is
creating original programming, distribution and international sales and
satellite delivery systems, Signet Entertainment has also executed a long-term
contract with Mr. C. Haifley, Chief Operating Officer of Big Vision, Inc. whose
primary purpose is Television production, transmitting and ground crew pick up.
Big Vision presently occupies approximately 22,000 square feet in the heart of
Las Vegas and offers all TV production amenities required of any variety of
television programming. Big Vision is a Las Vegas based video production company
with over 12 thousand square feet facility in Burbank, CA serving clients nation
wide and abroad. They are best known for their state-of-the-art production
mobile facilities that will compliment Triple Play. Their services range from
original video production to providing the technical management, professional
crewing and equipment for major broadcast series and events. They have recently
added the new Avid Symphony Systems and a complete line of High Definition
delivery techniques with new cameras, recorders, and monitors; an aggregate
estimated cost value in excess of five million dollars.

Like Triple Play, Big Vision is supported by an award winning staff and
associates who are considered the most talented and capable individuals in the
industry. In turn, these individuals have attracted some of the biggest client
names in the business thereby symbolizing Big Vision's 20 years plus presence.
Big Vision's clientele includes the foremost major TV Networks. The high-profile
Television producers are clients who rely on Big Vision to create the magic of
Television with the assurance that Big Vision will be on time and on budget.

Advantageously located in heart of the Nation's entertainment center, Las Vegas,
Big Vision enjoys the distinctive opportunity to produce, direct and televise
most of the leading events in the sports and entertainment business. These
events take place in the Signet footprint set for major professional boxing
championship specials via cable Pay Per View which can now include several of
those Triple Play intellectual properties created to originate from Las Vegas
including international distribution such as the major TV specials and live
concert extravaganzas.

The practicality of having Big Vision affiliated with Triple Play assures
uninterrupted local programming coverage by Big Vision and at the same time
gives Triple Play the flexibility to initiate its broadcast and programming
schedules in the European, Asian, North and South American markets. The fiscal
advantage to Signet Entertainment and its shareholders is that the production
costs and related expenses incurred by Big Vision and Triple Play is that Signet
Entertainment will be paying on a cost only basis.


Item 3 - Controls and Procedures

(a)  Evaluation of Disclosure Controls and Procedures

     Under the supervision and with the participation of our management,
     including our principal executive officer and principal financial officer,
     we conducted an evaluation of our disclosure controls and procedures, as
     such term is defined under Rule 13a-15(e) promulgated under the Securities
     Exchange Act of 1934, as amended (Exchange Act), as of January 31, 2005.
     Based on this evaluation, our principal executive officer and principal
     financial officer concluded that our disclosure controls and procedures are
     effective in alerting them on a timely basis to material information
     relating to our Company required to be included in our reports filed or
     submitted under the Exchange Act.

(b)  Changes in Internal Controls

   There were no significant changes (including corrective actions with regard
   to significant deficiencies or material weaknesses) in our internal controls
   over financial reporting that occurred during the fourth quarter of fiscal
   2004 that has materially affected, or is reasonably likely to materially
   affect, our internal control over financial reporting.


Part II - Other Information

Item 1 - Legal Proceedings

   None

Item 2 - Recent Sales of Unregistered Securities and Use of Proceeds

   On September 9, 2005, the Company commenced the sale of common stock pursuant
   to a Private Placement Memorandum in a self-underwritten offering. This
   Memorandum is offering for sale to persons who qualify as accredited
   investors and to a limited number of sophisticated investors, on a best
   efforts basis, up to 2,000,000 of our common shares at $1.00 per share, for
   anticipated gross proceeds of $2,000,000. The common shares will be offered
   through the Company's officers and directors on a best-efforts basis. The
   minimum investment is $1,000, however, the Company might, at it's sole
   discretion, accept subscriptions for lesser amounts. Funds received from all
   subscribers will be released to the Company upon acceptance of the
   subscriptions by the Company's management. During the quarter ended March 31,
   2006, the Company sold an additional 15,000 shares for gross proceeds of
   $15,000 pursuant to this Private Placement Memorandum. Through March 31,
   2006, the Company has sold a cumulative 381,000 shares for gross proceeds of
   $381,000 to a various investors under this Private Placement Memorandum.

   The proceeds of above transactions remain in the Company's bank accounts as
   of March 31, 2006 and are to be used in future periods for working capital
   purposes.

Item 3 - Defaults on Senior Securities

   None

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

   The Company has held no regularly scheduled, called or special meetings of
shareholders during the reporting period.

Item 5 - Other Information

   On March 31, 2006, the Company repurchased 50,000 shares of common stock from
   the estate of a deceased shareholder which purchased said shares pursuant to
   the aforementioned September 2005 Private Placement Memorandum for $50,000
   cash.

Item 6 - Exhibits and Reports on Form 8-K

   Exhibits
     31.1Certification pursuant to Section 302 of Sarbanes-Oxley Act of 2002
     32.1Certification pursuant to Section 906 of Sarbanes-Oxley Act of 2002.



                                   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.

                                   Signet International Holdings, Inc.

Dated:  May 12, 2006                /s/ Ernest W. Letiziano
                                                   Ernest W. Letiziano
                                                President and Director