UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                    FORM 10-Q

             Quarterly Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                   For Quarterly Period Ended: March 31, 2007

                        Commission File Number: 814-00716

                              INTERIM CAPITAL CORP.
             (Exact name of registrant as specified in its charter)

                Nevada                                          02-0638350
                ------                                          ----------
    (State or Other Jurisdiction of                            (IRS Employer
    Incorporation or Organization)                          Identification No.)

         3960 Howard Hughes Parkway, Suite 500, Las Vegas, Nevada 89109
               (Address of principal executive office) (zip code)

       Registrant's telephone number, including area code - (972) 745-3020

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such shorter  periods that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]

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

  Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ X ]

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

The number of shares  outstanding of registrant's  common stock, par value $.001
per share, as of March 31, 2007, was 10,505,000 shares.



<PAGE>


                              Interim Capital Corp.

                                      INDEX
                                                                            Page
                                                                            No.

Part I       Financial Information (unaudited)

  Item 1.    Condensed Financial Statements

             Statements of Net Assets as of March 31, 2007
              and December 31, 2006                                            3
             Statements of Operations - For the Three Months
              Ended March 31, 2007 and 2006                                    4
             Statements of Cash Flows - For the Three Months
              Ended March 31, 2007 and 2006                                    5
             Statements of Changes in Net Assets - For the
              Three Months Ended March 31, 2007 and 2006                       6
             Schedule of Investments as of March 31, 2007
              and December 31, 2006                                          7-8
             Financial Highlights                                              9
             Notes to Financial Statements                                    10

  Item 2.    Managements Discussion and Analysis of Financial
              Condition and Results of Operations                             15
  Item 3.    Quantitative and Qualitative Disclosure about Market Risk        25
  Item 4.    Controls and Procedures                                          25

Part II      Other Information

  Item 1.    Legal Proceedings                                                26
  Item 1A.   Risk Factors                                                     26
  Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds      26
  Item 3.    Defaults Upon Senior Securities                                  26
  Item 4.    Submission of Matters to a Vote of Security Holders              26
  Item 5.    Other Information                                                26
  Item 6.    Exhibits                                                         26

  Signatures
  Exhibits



                                       2
<PAGE>
<TABLE>
<CAPTION>

PART 1: FINANCIAL INFORMATION
ITEM 1: FINANCIAL STATEMENTS

                              Interim Capital Corp.
                       Condensed Statements of Net Assets
                      March 31, 2007 and December 31, 2006

                                                                     2007        2006
                                                                     ----        ----
                                                                  (Unaudited)
<S>                                                                  <C>         <C>

ASSETS
Investments in unaffiliated portfolio companies (cost $66,112
  at March 31, 2007 and December 31, 2006)                        $ 15,725    $ 19,600
Cash and cash equivalents                                               62       5,066
Advance to related party                                              --         4,234
Federal income taxes receivable                                     13,213      12,523
Deferred income taxes                                                2,188        --
                                                                  --------    --------
  TOTAL ASSETS                                                      31,188      41,423
                                                                  --------    --------

LIABILITIES
  Accounts payable and accrued expenses                              8,000       2,802
  Advance from affiliate, non-interest bearing                      25,000      25,000
                                                                  --------    --------
  TOTAL LIABILITIES                                                 33,000      27,802
                                                                  --------    --------
NET ASSETS (LIABILITIES)                                          $ (1,812)   $ 13,621
                                                                  ========    ========

Commitments and contingencies

Composition of net assets (liabilities):
  Common stock, $.001 par value, authorized 225,000,000 shares;
    10,505,000 shares issued and outstanding at
     March 31, 2007 and December 31, 2006                         $ 10,505    $ 10,505
  Additional paid in capital                                        51,175      51,175
  Accumulated earnings:
    Accumulated net operating earnings (loss)                      (12,105)       (547)
    Net realized gain (loss) on investments, net of tax             (1,000)     (1,000)
    Net unrealized appreciation (depreciation) of investments,
          net of deferred tax                                      (50,387)    (46,512)
                                                                  --------    --------
Net assets (liabilities)                                          $ (1,812)   $ 13,621
                                                                  ========    ========
Net asset (liabilitiy) value per share                            $(0.0002)   $ 0.0013
                                                                  ========    ========

</TABLE>

See accompanying notes to condensed financial statements.


                                       3
<PAGE>
<TABLE>
<CAPTION>

                            Interim Capital Corp.
                      Condensed Statements of Operations
                  Three Months Ended March 31, 2007 and 2006
                                 (Unaudited)

                                                                                           Prior to
                                                                                          becoming a
                                                                                           Business
                                                                                          Development
                                                                                            Company
                                                                          February 15,     January 1, to
                                                                          to March 31,     February 14,
                                                           2007              2006             2006
                                                       ------------    ------------    ------------
<S>                                                    <C>             <C>             <C>
Revenue from operations:
  Interest income                                      $       --      $       --      $       --
  Consulting income                                            --              --            40,000
                                                       ------------    ------------    ------------
     Total revenue from operations                             --              --            40,000
Expenses:
  Advertising                                                  --              --             1,625
  Compensation and benefits                                    --              --            20,424
  Other general and administrative expense                      102           1,910           5,693
  Professional fees                                           6,334           1,977           4,663
  Potential loss                                              8,000            --              --
  Travel and entertainment                                     --             3,043          13,971
                                                       ------------    ------------    ------------
                                                             14,436           6,930          46,376
Earnings (loss) before income taxes                         (14,436)         (6,930)         (6,376)
  Income tax expense (benefit)                               (2,878)           (862)         10,540
                                                       ------------    ------------    ------------
       Net earnings (loss) from operations                  (11,558)         (6,068)        (16,916)
                                                       ------------    ------------    ------------
Net realized and unrealized losses:
  Net realized gains (losses) on investments, net
     of income tax (expense) benefit of -0-                    --              --              --
  Change in unrealized depreciation of investments
     net of deferred tax benefit of -0-                      (3,875)        (33,363)           --
                                                       ------------    ------------    ------------
       Net realized and unrealized losses                    (3,875)        (33,363)           --
                                                       ------------    ------------    ------------
          Net decrease in net assets from operations   $    (15,433)   $    (39,431)   $    (16,916)
                                                       ============    ============    ============

Net decrease in net assets from operations per
     share, basic and diluted                          $    (0.0015)   $    (0.0038)   $    (0.0016)
                                                       ============    ============    ============
Weighted average common shares outstanding,
     basic and diluted                                   10,505,000      10,505,000      10,826,000
                                                       ============    ============    ============

</TABLE>


See accompanying notes to condensed financial statements.



                                       4
<PAGE>
<TABLE>
<CAPTION>

                              Interim Capital Corp.
                       Condensed Statements of Cash Flows
                   Three Months Ended March 31, 2007 and 2006
                                   (Unaudited)

                                                                                            Prior to
                                                                                           becoming a
                                                                                            Business
                                                                                           Development
                                                                                            Company
                                                                         February 15,      January 1, to
                                                                         to March 31,       February 14,
                                                              2007           2006            2006
                                                              ----           ----            ----
<S>                                                           <C>            <C>             <C>

Cash flows from operating activities:
 Net increase (decrease) in net assets from operations     $(15,433)       $(39,431)       $(16,916)
 Adjustments to reconcile net increase (decrease)
      in net assets from operations to net cash used
      in operating activities:
      Change in unrealized (appreciation) depreciation
        of investments in portfolio companies                 3,875          33,363            --
      Deferred income taxes                                  (2,878)           (862)            (65)
      Gain on sale of investments - Changes in operating
        assets and liabilities:
        Accounts receivable                                    --            25,000         (25,000)
        Federal income taxes receivable                        --            (1,910)           --
        Prepaid expenses and other assets                      --               472            --
        Accounts payable and accrued expenses                (5,198)         (4,574)          4,574
        Federal income taxes payable                           --           (21,958)         10,605
                                                           --------        --------        --------
          Net cash used in operating activities              (9,238)         (9,900)        (26,802)
                                                           --------        --------        --------
Cash flows from investing activities:
  Investments in and advances to portfolio
     investment companies                                      --            (1,000)           --
                                                           --------        --------        --------
          Net cash used in investing activities                --            (1,000)           --
                                                           --------        --------        --------
Cash flows from financing activities:
  Proceeds from advance to related party                      4,234            --              --
                                                           --------        --------        --------
          Net cash provided by financing activities           4,234            --              --
                                                           --------        --------        --------
Net decrease in cash and cash equivalents                    (5,004)        (10,900)        (26,802)
Cash and cash equivalents, beginning of period                5,066          33,577          60,379
                                                           --------        --------        --------
Cash and cash equivalents, end of period                   $     62        $ 22,677        $ 33,577
                                                           ========        ========        ========

Supplemental Cash Flow Information:
     Income taxes paid                                     $   --          $ 21,958        $   --

</TABLE>

See accompanying notes to condensed financial statements.



                                       5
<PAGE>
<TABLE>
<CAPTION>

                              Interim Capital Corp.
                  Condensed Statements of Changes in Net Assets
                   Three Months Ended March 31, 2007 and 2006
                                   (Unaudited)

                                                                                               Prior to
                                                                                              becoming a
                                                                                               Business
                                                                                              Development
                                                                                               Company
                                                                            February 15,      January 1, to
                                                                            to March 31,       February 14,
                                                             2007              2006              2006
                                                             ----              ----              ----
<S>                                                          <C>               <C>               <C>

Changes in net assets from operations:
  Net earnings (loss) from operations                    $ (11,558)        $  (6,068)        $ (16,916)
  Net realized gain (loss) on sale of investments,
     net of related income taxes                              --                --                --
  Change in net unrealized appreciation (depreciation)
     of investments, net of related deferred taxes          (3,875)          (33,363)             --
                                                         ---------         ---------         ---------
          Net increase (decrease) in net assets
               from operations                             (15,433)          (39,431)          (16,916)
                                                         ---------         ---------         ---------

Capital stock transactions:
  Collection of stock subscription receivable                 --                --                --
                                                         ---------         ---------         ---------
    Net increase in net assets from stock transactions        --                --                --
                                                         ---------         ---------         ---------
Net increase (decrease) in net assets                      (15,433)          (39,431)          (16,916)
Net assets, beginning of period                             13,621           102,929           119,845
                                                         ---------         ---------         ---------
Net assets, end of period                                $  (1,812)         $ 63,498         $ 102,929
                                                         =========         =========         =========


</TABLE>

See accompanying notes to condensed financial statements.



                                       6
<PAGE>
<TABLE>
<CAPTION>

                              Interim Capital Corp.
                             Schedule of Investments
                                 March 31, 2007
                                   (Unaudited)
                                                                                                                   % of
                   Date of                                                   Original           Fair                Net
  Shares         Acquisition                                                 Cost               Value              Assets
  ------         -----------                                              ------------       ------------        ----------
<S>              <C>                                                      <C>                <C>                 <C>

                 COMMON STOCK IN UNAFFILIATED PORTFOLIO COMPANIES

  112,500      Jul-04      Brinkman Outdoors, Inc. - sporting and
                           athletic goods                                      $ 112            $ 5,625             91%
    1,000      Dec-05      Chanticleer Holdings, Inc. - business
                           development company                                 1,000              1,000             16%
   65,000      Sep-04      Saguaro Holdings Corp - oil and gas
                           remediation and treatment                          65,000              9,100            147%
                                                                         ------------       ------------        ----------
                           Total investments at March 31, 2007              $ 66,112             15,725            254%
                                                                         ============

                           Cash and other assets, less liabilities                              (17,537)          -154%
                                                                                            ------------        ----------
                           Net assets at March 31, 2007                                         $(1,812)           100%

</TABLE>


See accompanying notes to condensed financial statements






                                       7
<PAGE>
<TABLE>
<CAPTION>

                              Interim Capital Corp.
                             Schedule of Investments
                               December 31, 2006

                                                                                                           % of
                Date of                                                     Original        Fair            Net
  Shares      Acquisition                                                     Cost          Value         Assets
  ------      -----------                                                  ------------   ------------  ----------
  <S>         <C>                                                          <C>            <C>           <C>

                 COMMON STOCK IN UNAFFILIATED PORTFOLIO COMPANIES

  112,500      Jul-04      Brinkman Outdoors, Inc. - sporting and
                           athletic goods                                      $ 112        $ 2,250           17%
    1,000      Dec-05      Chanticleer Holdings, Inc. - business
                           development company                                 1,000          1,100            8%
   65,000      Sep-04      Saguaro Holdings Corp - oil and gas
                           remediation and treatment                          65,000         16,250          119%
                                                                           ------------   ------------  ----------
                           Total investments at December 31, 2006           $ 66,112         19,600          144%
                                                                           ============
                           Cash and other assets, less liabilities                           (5,979)         -44%
                                                                                          ------------  ----------
                           Net assets at December 31, 2006                                   $ 13,621        100%
                                                                                          ============  ==========

</TABLE>

See accompanying notes to condensed financial statements


                                       8
<PAGE>
<TABLE>
<CAPTION>

                              Interim Capital Corp.
                              Financial Highlights
                   Three Months Ended March 31, 2007 and 2006
                                   (Unaudited)
                                                                                                                     Prior to
                                                                                                                     becoming a
                                                                                                                      Business
                                                                                                                     Development
                                                                                                                       Company
                                                                                             February 15 to           January 1 to
                                                                                                March 31,             February 14,
                                                                            2007                2006                    2006
                                                                         ---------             ---------               ---------
<S>                                                                      <C>                   <C>                     <C>

PER SHARE INFORMATION
 Net asset value, beginning of period                                    $ 0.0013              $ 0.0098                $ 0.0114
 Net increase (decrease) from operations                                  (0.0011)              (0.0006)                (0.0016)
 Net change in realized losses and unrealized
  depreciation of investments, net                                        (0.0004)              (0.0032)                      -
 Net increase from stock transactions                                           -                     -                       -
                                                                         ---------             ---------               ---------
     Net asset (liability) value, end of period                          $ 0.0002              $ 0.0060                $ 0.0098
                                                                         =========             =========               =========

Per share market value:
     Beginning of period                                                   $ 0.02                $ 0.02                  $ 0.02
     End of period                                                         $ 0.02                $ 0.02                  $ 0.02

Investment return, based on market price at end of period (1)                  0%                    0%                      0%

RATIOS/SUPPLEMENTAL DATA
 Net assets (liabilities), end of period                                  $(1,812)              $63,498               $ 102,929
 Average net assets                                                         9,905                83,214                 111,387

 Annualized ratio of expenses to average net assets                          144%                   29%                     61%
 Annualized ratio of net increase (decrease) in net assets from
     operations to average net assets                                       -300%                 -190%                    -61%

 Shares outstanding at end of period                                   10,505,000            10,505,000              10,826,000
 Weighted average shares outstanding during period                     10,505,000            10,505,000              10,826,000

</TABLE>

(1) Periods of less than one year are not annualized.




See accompanying notes to condensed financial statements.



                                       9
<PAGE>



                              Interim Capital Corp.
                     Notes to Condensed Financial Statements
                                   (Unaudited)



NOTE 1: DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

BUSINESS AND OPERATIONS
Interim  Capital Corp. (the  "Company") was  incorporated  under the laws of the
state of Nevada on November 12, 2002. The Company was formed to assist  emerging
companies in capital formation.

On February 14, 2006,  the Company  filed a  notification  on Form N54a with the
U.S. Securities and Exchange  Commission ("SEC"),  indicating its election to be
regulated as a Business Development Company ("BDC") under the Investment Company
Act of 1940, as amended.  Under this election, the Company has been organized to
provide  investors with the opportunity to participate,  with a modest amount in
venture  capital,  in investments that are generally not available to the public
and that  typically  require  substantially  larger  financial  commitments.  In
addition,  the Company will provide  professional  management and administration
that might otherwise be unavailable to investors if they were to engage directly
in venture capital investing.

UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS
Although  the nature of the  Company's  operations  and its  reported  financial
position,  results  of  operations,  and its cash flows are  dissimilar  for the
periods  prior to and  subsequent  to its becoming an  investment  company,  its
financial  position  for the three  months  ended  March 31, 2007 and year ended
December 31, 2006,  its  operating  results for the three months ended March 31,
2007 and 2006, and its cash flows and changes in net assets for the three months
ended March 31,  2007 and 2006,  are  presented  in the  accompanying  condensed
financial  statements pursuant to Article 6 of Regulation S-X. In addition,  the
accompanying  footnotes,  although  different  in  nature  as  to  the  required
disclosures and information  reported therein, are also presented as they relate
to each of the above referenced periods.

Interim  financial   statements  are  prepared  in  accordance  with  accounting
principles  generally accepted in the United States (GAAP) for interim financial
information  and  pursuant to the  requirements  for  reporting on Form 10-Q and
Article 10 of Regulation  S-X.  Accordingly,  certain  disclosures  accompanying
annual financial statements prepared in accordance with GAAP are omitted. In the
opinion of management,  all adjustments,  consisting  solely of normal recurring
accruals,  necessary for the fair  presentation of financial  statements for the
interim periods have been included.  The current  period's results of operations
are not  necessarily  indicative of results that  ultimately may be achieved for
the year. The interim unaudited condensed financial statements and notes thereto
should be read in  conjunction  with the financial  statements and notes thereto
included in the  Company's  Form 10-KSB for the fiscal year ended  December  31,
2006, as filed with the Securities and Exchange Commission.


                                       10
<PAGE>



NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

CONVERSION TO A BUSINESS DEVELOPMENT COMPANY
The operating  results for the three months ended March 31, 2007, and the period
from February 15, 2006, through March 31, 2006, reflect the Company's results as
a BDC  under  the  Investment  Company  Act of 1940,  as  amended,  whereas  the
operating results for the period from January 1, 2006 through February 14, 2006,
reflect the Company's  results prior to operating as a BDC under the  Investment
Company Act of 1940, as amended.  Accounting  principles used in the preparation
of the financial statements for these two periods are different,  and therefore,
the results of operations are not directly  comparable.  The primary differences
in  accounting  principles  relate to the carrying  value of  investments  - see
corresponding sections below for further discussions.

On February 15, 2006,  the date the Company began  operating as a BDC, the board
of directors of the Company  determined  the fair value of its  investments  was
equal  to  the  original  cost.  Accordingly,  there  was no  cumulative  effect
recognition in the accompanying financial statements upon becoming an investment
company.

MANAGEMENT ESTIMATES
The preparation of financial  statements in conformity  with generally  accepted
accounting  principles  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.

NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS PER SHARE
The basic earnings  (loss) per share is calculated by dividing the Company's net
income (loss) available to common shareholders by the weighted average number of
common  shares  during  the  year.  The  diluted  earnings  (loss)  per share is
calculated  by dividing  the  Company's  net income  (loss)  available to common
shareholders by the diluted weighted average number of shares outstanding during
the year. The diluted weighted average number of shares outstanding is the basic
weighted number of shares adjusted each period for any potentially dilutive debt
or equity.

The Company has outstanding  options to acquire  3,555,000  shares of its common
stock at $.001 per  share.  The  Company  had losses in all  periods  presented.
Accordingly, basic and diluted loss per share is the same.

INCOME TAXES
The  Company  has  not  elected  to  be a  regulated  investment  company  under
Subchapter M of the Internal Revenue Code of 1986, as amended.  Accordingly, the
Company will be subject to U.S. federal income taxes on sales of investments for
which the fair values are in excess of their tax basis.

Income  taxes  are  accounted  for  using an asset and  liability  approach  for
financial reporting.  The Company recognizes deferred tax liabilities and assets
for the expected future tax  consequences of temporary  differences  between the


                                       11
<PAGE>

financial  statement carrying amount and the tax basis of assets and liabilities
and net operating loss and tax credit carry forwards.  Valuation  allowances are
established when necessary to reduce deferred tax assets to the amounts expected
to be realized.

CASH AND CASH EQUIVALENTS
For purposes of the statements of cash flows,  the Company  considers all highly
liquid  investments  purchased with an original maturity date of three months or
less to be cash equivalents. None of the Company's cash is restricted.

VALUATION OF INVESTMENTS (AS A BUSINESS DEVELOPMENT COMPANY)
As a BDC  under  the  Investment  Company  Act of  1940,  all  of the  Company's
investments  must be carried  at market  value or fair  value as  determined  by
management for investments which do not have readily determinable market values.
Prior to this conversion, only marketable debt and equity securities and certain
derivative securities were required to be carried at market value.

Beginning  February  15,  2006,  portfolio  assets for which  market  prices are
available  are  valued  at  those  prices.  Securities  that are  traded  in the
over-the-counter  market or on a stock exchange  generally will be valued at the
prevailing  bid  price  on  the  valuation  date.   However,   potential  future
investments  by  the  Company  may  be  acquired  through  privately  negotiated
transactions and,  therefore,  have no readily  determinable market values, thus
these  securities would be carried at fair value as determined by management and
outside professionals as necessary under the Company's valuation policy.

Currently,  the  valuation  policy  provides  for  management's  review  of  the
management  team,  financial  conditions,  and  products  and  services  of  the
portfolio company. In situations that warrant such an evaluation, an independent
business valuation may be obtained.

Value,  as defined in Section  2(a)(41) of 1940 Act, is (i) the market price for
those securities for which a market quotation is readily  available and (ii) for
all other  securities  and assets,  fair value is as determined in good faith by
management.  There is no single  standard  for  determining  fair  value in good
faith. As a result,  determining fair value requires that judgment be applied to
the specific facts and circumstances of each portfolio  investment.  The Company
must  determine  the fair value of each  individual  investment  on a  quarterly
basis.  The Company will record  unrealized  depreciation on investments when it
believes that an investment has become impaired,  including where realization of
an equity security is doubtful.  Conversely,  the Company will record unrealized
appreciation if the Company believes that the underlying  portfolio  company has
appreciated in value and,  therefore,  its  investment  has also  appreciated in
value, where appropriate.

As a BDC, the Company invests primarily in illiquid securities  including equity
securities  of private  companies.  The  structure  of each  equity  security is
specifically  negotiated  to enable the  Company to protect its  investment  and
maximize  its  returns.  The Company  generally  includes  many terms  governing
ownership  parameters,  dilution  parameters,  liquidation  preferences,  voting
rights, and put or call rights. The Company's  investments are generally subject


                                       12
<PAGE>

to some restrictions on resale and generally have no established trading market.
Because of the type of investments  that the Company makes and the nature of its
business,  the  Company's  valuation  process  requires  an  analysis of various
factors. The Company's fair value methodology includes the examination of, among
other things, the underlying  investment  performance,  financial  condition and
market changing events that impact valuation.

REVENUE RECOGNITION (PRIOR TO BECOMING A BUSINESS DEVELOPMENT COMPANY)
Revenue  for  consulting  is  recorded  when  earned.  Revenue  from  investment
securities sold was recognized when the securities were sold.

COMPREHENSIVE INCOME
SFAS  No.  130,  "Reporting  Comprehensive  Income"  ("SFAS  130"),  establishes
standards for reporting and display of  comprehensive  income and its components
(revenues,  expenses,  gains,  and  losses)  in a full  set  of  general-purpose
financial  statements.  It  requires  that all  items  that are  required  to be
recognized under accounting  standards as components of comprehensive  income be
reported in a financial  statement that is displayed with the same prominence as
other  financial  statements.  SFAS 130 requires that an enterprise (a) classify
items of other comprehensive  income by their nature in financial statements and
(b) display the accumulated balance of other comprehensive  income separately in
the equity section of the balance sheet for all periods presented. The Company's
comprehensive income (loss) does not differ from its reported net income (loss).

As a BDC, the Company must report  changes in the fair value of its  investments
outside of its operating  income on its statement of operations  and reflect the
accumulated appreciation or depreciation in the fair value of its investments as
a separate component of its stockholders'  equity.  This treatment is similar to
the treatment required by SFAS 130.

RECLASSIFICATIONS
Certain  reclassifications have been made to the 2006 balances to conform to the
2007 financial statement presentation.


NOTE 3: INVESTMENTS

The Company's investments,  all of which are unaffiliated,  as of March 31, 2007
and December 31, 2006, are included in the Schedule of Investments.

Prior  to  February  15,  2006 and  becoming  a BDC,  the  Company  carried  its
investments in equity securities at cost. These shares were purchased, for cash,
in private transactions  believed to be exempt from registration of the 1933 Act
under  Section 4 (1) or  Section 4 (2).  Due to the  limited  marketability  and
extremely volatile prices of theses thinly traded securities, the Company felt a
reasonable  fair market value was not readily  available.  However,  the Company
disclosed in the notes to the financial statements the potential unrealized gain
or loss based on fair market value, as determined by the most recent close price
as quoted on the balance sheet date, if available, otherwise valued at cost.



                                       13
<PAGE>



Investments  at March 31, 2007 and  December  31,  2006,  may be  summarized  as
follows:

                                                   Cost           Fair Value

Balance, December 31, 2006                   $      66,112     $      19,600
Acquisition                                              -                 -
Investment depreciation                                  -            (3,875)
                                             -------------     -------------
Balance, March 31, 2007                      $      66,112     $      15,725
                                             =============     =============

Investments  are valued at fair value as  determined  by the board of directors.
The values assigned to these securities are based upon available information and
may not reflect amounts that could be realized if the Company found it necessary
to immediately sell such securities, or amounts that ultimately may be realized.
Accordingly,   the  fair  values  included  in  the  accompanying  schedules  of
investments  may differ  from the  values  that would have been used had a ready
market existed for these securities and such difference could be material.

NOTE 4: RELATED PARTY TRANSACTIONS

The  officers  and  directors  of the  Company are  involved  in other  business
activities  and  may,  in  the  future,   become   involved  in  other  business
opportunities  as they become  available.  The officers and directors may face a
conflict in selecting  between the Company and their other  business  interests.
The Company has not formulated a policy for the resolution of such conflicts.

The Company  collected  its  advance to a related  party in the amount of $4,234
during the three months ended March 31, 2007.

NOTE 5: COMMITMENTS AND CONTINGENCIES

From  time-to-time,  some  of the  Company's  portfolio  companies  may  receive
correspondence  or other  notices of alleged  breach of a license  agreement  or
other contract. Some of these notifications provide a period of time in which to
cure an  alleged  breach or  default.  The  failure of the  Company's  portfolio
companies  to cure an  alleged  breach or default  may have a  material  adverse
impact on the Company's results of operations and financial position.

The Company  received notice that the staff of the Fort Worth District Office of
the Securities and Exchange  Commission intends to recommend that the Commission
bring a civil injunctive action against Interim Capital Corp. and its President,
Mark  Lindberg,  alleging  that  they  violated  Sections  5(a)  and 5(c) of the
Securities Act of 1933 by engaging in an unregistered, nonexempt distribution of
Sniffex,  Inc. stock.  The Company may be subject to fines or  disgorgement  for
certain potential violations upon resolution of this matter.

In December  2004 and  January  2005,  the Company  made loans to Sniffex in the
total amount of $32,000.  These loans were  subsequently  converted into Sniffex
common stock and in May 2005,  the shares were  transferred  to a consultant  in
exchange for  consulting  fees owed.  The Company  recognized a non-cash gain of
$8,000 on the transaction, which amount has been accrued at March 31, 2007, as a
result of the potential disgorgement.





                                       14
<PAGE>


ITEM 2: MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
     OF OPERATIONS

This  information  statement  contains  forward-looking   statements.  For  this
purpose,  any statements  contained herein that are not statements of historical
fact may be deemed to be forward-looking statements.  These statements relate to
future  events or our  future  financial  performance.  In some  cases,  you can
identify  forward-looking  statements  by  terminology  such as  "may",  "will",
"should",   "expects",   "plans",   "anticipates",    "believes",   "estimates",
"predicts",  "potential",  "continue"  or the  negative  of such  terms or other
comparable terminology. These statements are only predictions.  Actual events or
results may differ  materially.  There are a number of factors  that could cause
our  actual  results  to  differ   materially   from  those  indicated  by  such
forward-looking statements.

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. Moreover, we do not assume responsibility
for the accuracy and  completeness of such  forward-looking  statements.  We are
under no duty to update any of the forward-looking  statements after the date of
this  information  statement  to  conform  such  statements  to actual  results.
Management's  discussion  and analysis  should be read in  conjunction  with our
financial statements and the notes herein.

OUR PLAN OF OPERATION FOR THE NEXT TWELVE MONTHS
-------------------------------------------------

MANAGEMENT'S ANALYSIS OF BUSINESS

OUR ABILITY TO DEVELOP OUR BUSINESS PLAN IS CONTINGENT UPON OUR ABILITY TO RAISE
SUFFICIENT  FUNDS TO INVEST IN PORTFOLIO  COMPANIES  AND TO COVER OUR  OPERATING
OVERHEAD REQUIREMENTS.

We will have significant  relative  flexibility in selecting and structuring our
investments.  We will not be subject to many of the regulatory  limitations that
govern traditional lending institutions such as banks. We will seek to structure
our  investments  so as to take  into  account  the  uncertain  and  potentially
variable financial  performance of our portfolio  companies.  This should enable
our  portfolio  companies  to retain  access to  committed  capital at different
stages in their  development and eliminate some of the  uncertainty  surrounding
their  capital  allocation  decisions.  We will  calculate  rates of  return  on
invested capital based on a combination of up-front commitment fees, current and
deferred  interest rates and residual values,  which may take the form of common
stock,  warrants,  equity  appreciation  rights or future contract payments.  We
believe that this flexible  approach to structuring  investments will facilitate
positive,  long-term relationships with our portfolio companies and enable us to
become a  preferred  source of capital to them.  We also  believe  our  approach
should enable debt financing to develop into a viable alternative capital source
for  funding  the  growth of target  companies  that wish to avoid the  dilutive
effects of equity financings for existing equity holders.

Longer  Investment  Horizon - We will not be subject to periodic  capital return


                                       15
<PAGE>

requirements. These requirements, which are standard for most private equity and
venture  capital funds,  typically  require that these funds return to investors
the initial  capital  investment  after a  pre-agreed  time,  together  with any
capital  gains on such capital  investment.  These  provisions  often force such
funds to seek the return of their  investments  in portfolio  companies  through
mergers,  public equity  offerings or other  liquidity  events more quickly than
they  otherwise  might,  which can result in a lower overall return to investors
and adversely affect the ultimate viability of the affected portfolio companies.

Because we may invest in the same  portfolio  companies as these  funds,  we are
subject to these risks if these funds  demand a return on their  investments  in
the portfolio  companies.  We believe that our flexibility to take a longer-term
view should  help us to maximize  returns on our  invested  capital  while still
meeting the needs of our portfolio companies.

Established Deal Sourcing Network - We believe that,  through our management and
directors,  we have solid contacts and sources from which to generate investment
opportunities. These contacts and sources include:

     o    public and private companies,
     o    investment bankers,
     o    attorneys,
     o    accountants,
     o    consultants, and
     o    commercial bankers

However,  we  cannot  assure  you  that  such  relationships  will  lead  to the
origination of debt or other investments.

INVESTMENT CRITERIA

As a matter of policy,  we will not purchase or sell real estate or interests in
real estate or real estate investment trusts except that we may:

     o    purchase  and  sell  real  estate  or  interests  in  real  estate  in
          connection  with  the  orderly  liquidation  of  investments,   or  in
          connection with foreclosure on collateral;
     o    own the  securities  of companies  that are in the business of buying,
          selling or developing real estate; or
     o    finance the purchase of real estate by our portfolio companies.

We will limit our  investments in more  traditional  securities  (stock and debt
instruments) and will not, as a matter of policy:

     o    sell  securities  short  except  with  regard  to  managing  the risks
          associated  with  publicly-traded  securities  issued by our portfolio
          companies;
     o    purchase  securities  on  margin  (except  to the  extent  that we may
          purchase securities with borrowed money); or
     o    engage in the purchase or sale of commodities or commodity  contracts,
          including  futures  contracts  except  where  necessary in working out


                                       16
<PAGE>

          distressed loans; or in those investment  situations where hedging the
          risks associated with interest rate fluctuations is appropriate,  and,
          in such cases,  only after all necessary  registrations  or exemptions
          from registration  with the Commodity Futures Trading  Commission have
          been obtained.

Prospective  Portfolio  Company  Characteristics  - We have  identified  several
criteria  that we  believe  will  prove  important  in  seeking  our  investment
objective with respect to target companies.  These criteria will provide general
guidelines for our investment  decisions;  however,  we caution readers that not
all of these criteria will be met by each prospective portfolio company in which
we choose to invest.

Experienced  Management - We will generally require that our portfolio companies
have an  experienced  president  or  management  team.  We will also require the
portfolio  companies to have in place proper  incentives to induce management to
succeed and to act in concert with our interests as investors,  including having
significant  equity  interests.  We intend to  provide  assistance  in this area
either  supervising   management  or  providing  management  for  our  portfolio
companies.

Products or Services - We will seek  companies  that are involved in products or
services  that  do  not  require  significant  additional  capital  or  research
expenditures. In general, we will seek target companies that make innovative use
of proven technologies or methods.

Proprietary  Advantage - We expect to favor companies that can demonstrate  some
kind of proprietary  sustainable  advantage  with respect to their  competition.
Proprietary advantages include, but are not limited to:

     o    patents or trade secrets with respect to owning or  manufacturing  its
          products, and
     o    a  demonstrable   and   sustainable   marketing   advantage  over  its
          competition.

Marketing  strategies  impose unusual  burdens on management to be  continuously
ahead of its competition, either through some kind of technological advantage or
by being continuously more creative than its competition.

Profitable or Nearly Profitable  Operations Based on Cash Flow from Operations -
We will focus on target companies that are profitable or nearly profitable on an
operating cash flow basis.  Typically, we would not expect to invest in start-up
companies unless there is a clear exit strategy in place.

Potential  for Future  Growth - We will  generally  require  that a  prospective
target  company,  in addition to  generating  sufficient  cash flow to cover its
operating  costs and service its debt,  demonstrate  an ability to increase  its
revenues and operating  cash flow over time.  The  anticipated  growth rate of a
prospective target company will be a key factor in determining the value that we
ascribe  to any  warrants  or other  equity  securities  that we may  acquire in
connection with an investment in debt securities.

Exit Strategy - Prior to making an investment  in a portfolio  company,  we will
analyze the  potential  for that company to increase the liquidity of its common


                                       17
<PAGE>

equity through a future event that would enable us to realize  appreciation,  if
any, in the value of our equity interest. Liquidity events may include:

     o    an initial public offering,
     o    a private sale of our equity interest to a third party,
     o    a merger or an acquisition of the portfolio company, or
     o    a purchase of our equity  position by the portfolio  company or one of
          its stockholders.

We may  acquire  warrants  to  purchase  equity  securities  and/or  convertible
preferred stock of the eligible portfolio companies in connection with providing
financing.  The terms of the warrants,  including the expiration date,  exercise
price and terms of the equity  security for which the warrant may be  exercised,
will be negotiated  individually with each eligible portfolio company,  and will
likely be affected by the price and terms of  securities  issued by the eligible
portfolio company to other venture  capitalists and other holders. We anticipate
that most  warrants  will be for a term of five to ten  years,  and will have an
exercise price based upon the price at which the eligible portfolio company most
recently issued its equity  securities or, if a new equity offering is imminent,
the price at which  such new  equity  securities  will be  offered.  The  equity
securities  for which the warrant  will be  exercised  generally  will be common
stock of which there may be one or more classes or convertible  preferred stock.
Substantially  all  the  warrants  and  underlying  equity  securities  will  be
restricted  securities  under the 1933 Act at the time of the issuance.  We will
generally negotiate for registration rights with the issuer that may provide:

     o    "piggyback"  registration  rights,  which will permit us under certain
          circumstances, to include some or all of the securities owned by us in
          a registration statement filed by the eligible portfolio company, or
     o    in  circumstances,  "demand"  registration  rights permitting us under
          certain  circumstances,  to require the eligible  portfolio company to
          register  the  securities  under  the 1933 Act,  in some  cases at our
          expense.  We will generally  negotiate net issuance  provisions in the
          warrants,  which will allow us to receive upon exercise of the warrant
          without  payment of any cash a net amount of shares  determined by the
          increase in the value of the issuer's  stock above the exercise  price
          stated in the warrant.

Liquidation  Value of  Assets -  Although  we do not  intend  to  operate  as an
asset-based  lender,  the prospective  liquidation  value of the assets, if any,
collateralizing  any debt securities that we hold will be an important factor in
our credit analysis. We will emphasize both tangible assets, such as:

     o    accounts receivable,
     o    inventory, and
     o    equipment,

and intangible assets, such as:

     o    intellectual property,
     o    customer lists,


                                       18
<PAGE>

     o    networks, and
     o    databases.

INVESTMENT PROCESS

     Due Diligence - If a target  company  generally  meets the  characteristics
described above, we will perform initial due diligence, including:

     o    company and technology assessments,
     o    evaluation of existing management team,
     o    market analysis,
     o    competitive analysis,
     o    evaluation of management, risk analysis and transaction size,
     o    pricing, and
     o    structure analysis.

Much of this  work will be done by  management  and  professionals  who are well
known by management.  The criteria  delineated above provide general  parameters
for our  investment  decisions.  We intend to pursue an  investment  strategy by
further  imposing  such  criteria and reviews that best insures the value of our
investments.  As unique circumstances may arise or be uncovered, not all of such
criteria will be followed in each instance but the process  provides a guideline
by  which  investments  can be  prudently  made  and  managed.  Upon  successful
completion of the  preliminary  evaluation,  we will decide whether to deliver a
non-binding  letter of intent  and move  forward  towards  the  completion  of a
transaction.

In our review of the management team, we look at the following:

     o    Interviews with management and significant shareholders, including any
          financial or strategic sponsor; o Review of financing history;
     o    Review of management's track record with respect to:
     o    product development and marketing,
     o    mergers and acquisitions,
     o    alliances,
     o    collaborations,
     o    research and development outsourcing and other strategic activities;
     o    Assessment of competition; and
     o    Review of exit strategies.

In our review of the financial conditions, we look at the following:

     o    Evaluation of future financing needs and plans;
     o    Detailed analysis of financial performance;
     o    Development of pro forma financial projections; and
     o    Review of assets and liabilities, including contingent liabilities, if


                                       19
<PAGE>

          any, and legal and regulatory risks.

In our review of the products and services of the portfolio company,  we look at
the following:

     o    Evaluation of intellectual property position;
     o    Review of existing customer or similar agreements and arrangements;
     o    Analysis of core technology;
     o    Assessment of collaborations;
     o    Review of sales and marketing procedures; and
     o    Assessment of market and growth potential.

Upon  completion  of these  analyses,  we will conduct  on-site  visits with the
target company's management team. Also, in cases in which a target company is at
a mature  stage  of  development  and if  other  matters  that  warrant  such an
evaluation, we will obtain an independent appraisal of the target company.

ONGOING RELATIONSHIPS WITH PORTFOLIO COMPANIES

Monitoring - We will  continuously  monitor our portfolio  companies in order to
determine  whether they are meeting our financing  criteria and their respective
business  plans.  We may decline to make  additional  investments  in  portfolio
companies that do not continue to meet our financing  criteria.  However, we may
choose to make additional  investments in portfolio companies that do not do so,
but we believe that they will nevertheless perform well in the future.

We will monitor the  financial  trends of each  portfolio  company to assess the
appropriate  course of action for each company and to evaluate overall portfolio
quality. Our management team and consulting professionals, who are well known by
our management  team,  will closely  monitor the status and  performance of each
individual company on at least a quarterly and, in some cases, a monthly basis.

We will use several  methods of evaluating and monitoring  the  performance  and
fair value of our debt and equity  positions,  including  but not limited to the
following:

     o    Assessment  of  business   development   success,   including  product
          development,  financings,  profitability  and the portfolio  company's
          overall adherence to its business plan;
     o    Periodic and regular  contact with  portfolio  company  management  to
          discuss financial position, requirements and accomplishments;
     o    Periodic and regular formal update  interviews with portfolio  company
          management and, if appropriate, the financial or strategic sponsor;
     o    Attendance at and participation in board meetings;
     o    Review of monthly and  quarterly  financial  statements  and financial
          projections for portfolio companies.

Managerial Assistance - As a business development company, we will offer, and in


                                       20
<PAGE>

many cases may  provide,  significant  managerial  assistance  to our  portfolio
companies. This assistance will typically involve:

     o    monitoring the operations of our portfolio companies
     o    participating in their board and management meetings,
     o    consulting with and advising their officers, and
     o    providing other organizational and financial guidance.


INVESTMENT AMOUNTS

The  amount  of  funds  committed  to a  portfolio  company  and  the  ownership
percentage  received  will  vary  depending  on the  maturity  of the  portfolio
company,  the quality and  completeness  of the portfolio  company's  management
team,  the perceived  business  opportunity,  the capital  required  compared to
existing capital,  and the potential return.  Although  investment  amounts will
vary considerably,  we expect that the average  investment,  including follow-on
investments, will be between $25,000 and $1,000,000.



                                       21
<PAGE>



COMPETITION

Our primary  competitors to provide  financing to target  companies will include
private  equity and venture  capital funds,  other equity and  non-equity  based
investment funds and investment banks and other sources of financing,  including
traditional  financial services companies such as commercial banks and specialty
finance companies.  Many of these entities have substantially  greater financial
and  managerial  resources  than we will have.  We believe that our  competitive
advantage  with  regard to quality  target  companies  relates to our ability to
negotiate  flexible  terms and to complete our review process on a timely basis.
We cannot assure you that we will be successful in implementing our strategies.

CRITICAL           ACCOUNTING           POLICIES          AND          ESTIMATES
------------------------------------------  Management's Discussion and Analysis
of Financial Condition and Results of Operations section discusses our condensed
financial  statements,  which have been prepared in accordance  with  accounting
principles  generally accepted in the United States of America.  The preparation
of these  condensed  financial  statements  requires  us to make  estimates  and
assumptions  that affect the reported  amounts of assets and  liabilities at the
date of the condensed financial  statements and the reported amounts of revenues
and  expenses  during the  reporting  periods.  On an  on-going  basis,  we will
evaluate  our  estimates  and  judgments,  including  those  related  to revenue
recognition,  valuation of investments in portfolio companies, accrued expenses,
financing operations,  contingencies and litigation.  We will base our estimates
and  judgments on  historical  experience  and on various other factors that are
believed to be reasonable under the circumstances, the results of which form the
basis for making  judgments  about the carrying value of assets and  liabilities
that are not readily apparent from other sources. Actual results may differ from
these estimates under different assumptions or conditions.  The most significant
accounting  estimates  inherent in the  preparation of our financial  statements
include  estimates as to the  appropriate  carrying  value of certain assets and
liabilities  which are not  readily  apparent  from other  sources,  such as the
investments in portfolio companies.

RESULTS OF OPERATIONS
-------------------------------------

Comparison of three months ended March 31, 2007 and March 31, 2006 -

During the three  months ended March 31,  2007,  we operated as a BDC;  whereas,
during  the three  months  ended  March 31,  2006,  we  operated  as a  business
consulting  company  until  February  14, 2006 and a BDC from  February 15, 2006
until March 31, 2006.

We are in the infancy stage of operating as a BDC and have not  established  any
revenue from our investments in portfolio companies.  In 2006, before becoming a
BDC, we had $40,000 in consulting income.

During 2006, we had $20,424 in compensation and benefits, before becoming a BDC.
Our officers have  discontinued  any salary while we establish our business as a
BDC.


                                       22
<PAGE>


Other general and  administrative  expenses were $5,693 before becoming a BDC in
2006, $1,910 after becoming a BDC in 2006 and $102 in 2007.

Professional  fees amounted to $4,663 in 2006 before  becoming a BDC,  $1,977 in
2006 after  becoming a BDC and $6,334 in 2007. In total costs are  approximately
the same in both quarterly periods.

Travel and entertainment costs amounted to $13,971 in 2006 before becoming a BDC
and $3,043 in 2006 after becoming a BDC. There were no travel and  entertainment
costs in 2007.

In March 2007, we accrued $8,000 as a potential disgorgement loss as a result of
a possible claim proposed by the SEC (Note 5).

The above activity,  less related  deferred tax benefit,  resulted in a net loss
from  operations of $16,916 in 2006 before becoming a BDC, $6,068 after becoming
a BDC and $11,558 in 2007.

We recorded  unrealized  depreciation  of $33,363  during the 2006 period  after
becoming a BDC and  unrealized  depreciation  of $3,875 in 2007.  We  recorded a
valuation  allowance  equal  to the  expected  deferred  tax  benefit  from  the
unrealized loss.


LIQUIDITY AND CAPITAL RESOURCES
---------------------------------

At March 31, 2007, we had total assets of $31,188 as compared to total assets of
$41,423 at  December  31,  2006.  During the first  three  months of 2007,  cash
decreased  $5,004  to $62 and  investments  decreased  $3,875  from  $19,600  to
$15,725,  which  represents  the  majority  of the  decline  in total  assets of
$10,235.

Liabilities  have increased  $5,198 during 2007 from $27,802 at year-end 2006 to
$33,000 as of March 31,  2007.  This change is the result of the net increase in
accounts  payable and accrued  expenses  during the three months ended March 31,
2007.

Accordingly,  net assets (liabilities) decreased from $13,621 to $(1,812) during
the three months ended March 31, 2007.  This decline  includes an operating loss
of $11,558 and an increase in unrealized depreciation of $3,875.


NET ASSET (LIABILITY) VALUE
---------------------------

As a Business Development Company, certain of our activities and disclosures are
made in reference to Net Asset Value which is the value of our portfolio  assets
less debt and preferred stock.  This may be viewed,  simply and generalized,  as
the  value  of our  assets  to our  common  shareholders.  As of the date of the
financial  information  in this  report,  the value of our  portfolio  of assets
including  investments  in equity  securities and cash is $31,188 and from this,
are  subtracted  liabilities  and  debts of  $33,000.  There  are no  shares  of
preferred stock  outstanding but the rights of preferred  stockholders  would be
included if there were. The Net Asset (Liability)  Value is therefore  $(1,812).
The Net Asset (Liability) Value per Share is $(.0002).


                                       23
<PAGE>



OFF BALANCE SHEET ARRANGEMENTS
-------------------------------

     o    None.


CONTRACTUAL OBLIGATIONS
-------------------------

     o    None.













                                       24
<PAGE>



ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market risk is the risk of loss arising from adverse changes in market rates and
prices. We are primarily exposed to equity price risk.

Equity price risk arises from exposure to securities that represent an ownership
interest in our portfolio companies.  The value of our equity securities and our
other  investments  are based on quoted market prices or our Board of Directors'
good faith determination of their fair value (which is based, in part, on quoted
market  prices).  Market prices of common  equity  securities,  in general,  are
subject to  fluctuations,  which could cause the amount to be realized upon sale
or exercise of the instruments to differ significantly from the current reported
value.  The  fluctuations  may result from  perceived  changes in the underlying
economic  characteristics  of our  portfolio  companies,  the relative  price of
alternative  investments,  general  market  conditions  and  supply  and  demand
imbalances for a particular security.


ITEM 4: CONTROLS AND PROCEDURES

                      Evaluation of Controls and Procedures

Our board of directors and  management,  including the Chief  Executive  Officer
("CEO"),  evaluated  the  effectiveness  of  the  design  and  operation  of our
disclosure  controls  and  procedures,   as  defined  in  Rule  13(a)-15(e)  and
15(d)-15(e)  of the  Exchange  Act.  Based  upon that  evaluation,  our board of
directors and  management,  including the CEO,  concluded  that, as of March 31,
2007,  our  disclosure  controls  and  procedures  were  effective  in  alerting
management on a timely basis to material  information  that would be required to
be included in our  periodic  filings  with the SEC.  Based on their most recent
evaluation as of the Evaluation  Date, the CEO has also concluded that the other
controls and procedures,  that are designed to ensure that information  required
to be disclosed in our periodic filings with the SEC, are adequate.

                           Changes in Internal Control

At the time of its election as a business  development  company,  we updated our
internal  controls;  the  controls  were  adopted by our board of  directors  on
February 13, 2006. No failures or shortcomings  were discovered and the updating
related to insuring that safeguards  appropriate for an investment  company were
included in our internal controls. There were no significant changes made in our
internal controls over financial  reporting since that time that have materially
affected,  or  are  reasonably  likely  to  materially  affect,  these  internal
controls.  Thus, no corrective actions, with regard to significant  deficiencies
or material weaknesses, were necessary.




                                       25
<PAGE>



PART II - OTHER INFORMATION


ITEM 1: LEGAL PROCEEDINGS

The Company  received notice that the staff of the Fort Worth District Office of
the Securities and Exchange  Commission intends to recommend that the Commission
bring a civil injunctive action against Interim Capital Corp. and its President,
Mark  Lindberg,  alleging  that  they  violated  Sections  5(a)  and 5(c) of the
Securities Act of 1933 by engaging in an unregistered, nonexempt distribution of
Sniffex,  Inc. stock.  The Company may be subject to fines or  disgorgement  for
certain potential violations upon resolution of this matter

ITEM 1A: RISK FACTORS

Not applicable.


ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3: DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 5: OTHER INFORMATION

None.

ITEM 6: EXHIBITS

The following exhibits are filed with this report on Form 10-Q.

         Exhibit 31           Certifications  pursuant to 18 U.S.C. Section 1350
                              Section 302 of the Sarbanes-Oxley Act of 2002

         Exhibit 32           Certifications  pursuant to 18 U.S.C. Section 1350
                              Section 906 of the Sarbanes-Oxley Act of 2002





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                                    SIGNATURE
                                ----------------

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

                                                     INTERIM CAPITAL CORP.


Date:    May 9, 2007                                 By: /s/ Mark Lindberg
                                                     ------------------------
                                                     Mark Lindberg,
                                                     Chief Executive Officer and
                                                     Chief Financial Officer









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