UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549



________________



FORM 10-QSB

________________





|X|

QUARTERLY REPORT  PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES  EXCHANGE ACT OF 1934



For the quarterly period ended September 30, 2007



|_|

TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE

SECURITIES EXCHANGE ACT OF 1934



For the transition period from to



FIRSTWAY ENTERPRISES, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)



|                                               |                          |                                     
|---------------------------------------------- | ------------------------ | ------------------------------------
|Delaware                                       | 000-52563                | To be applied                       
|(State or other jurisdiction of incorporation) | (Commission file number) | (IRS Employer Identification Number)



c/o William Tay, President

305 Madison Avenue, Suite 1166

New York, NY 10165

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)



Not applicable.

(Former name, address and fiscal year, if changed since last report)



Issuer's telephone number, Including Area Code: (917) 591-2648



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 Act.) YES |X| NO |_|



State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:  As of November 14, 2007, there were 31,340,000 shares of common stock, $.0001 par value per share, outstanding.



Transitional Small Business Disclosure Format (check one): Yes |_| No |X|

















































TABLE OF CONTENTS



|                                                                                                                                 |   
|-------------------------------------------------------------------------------------------------------------------------------- | --
|PART I - Financial Information                                                                                                   |   
|Item 1. Financial Statements                                                                                                     |   
|Unaudited Balance Sheet as of September 30, 2007                                                                                 | 3 
|Unaudited Statements of Operations 
Three Months Ended September 30, 2007 and January 9, 2007 (inception) to
September 30, 2007 | 4 
|Unaudited Statements of Cash Flows 
Three Months Ended September 30, 2007 and January 9, 2007 (inception) to
September 30, 2007 | 5 
|Notes to Unaudited Financial Statements                                                                                          | 6 
|Item 2. Managements Discussion and Analysis of Financial Condition and
Results of Operations                                    | 8 
|Item 3. Controls and Procedures                                                                                                  | 9 
|                                                                                                                                 |   
|PART II - Other Information                                                                                                      |   
|Item 1. Legal Proceedings                                                                                                        | 10
|Item 2. Changes in Securities                                                                                                    | 10
|Item 3. Defaults upon Senior Securities                                                                                          | 10
|Item 4. Submission of Matters to a Vote of Security Holders                                                                      | 10
|Item 5. Other Information                                                                                                        | 10
|Item 6. Exhibits                                                                                                                 | 10

































PART I - Financial Information



Item 1. Financial Statements



The accompanying unaudited financial statements of Firstway Enterprises, Inc. have been prepared in accordance with generally accepted accounting principles for interim financial reporting and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("Commission"). While these statements reflect all normal recurring adjustments which are, in the opinion of management, necessary for fair presentation of the results of the interim period, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the financial statements and footnotes thereto, contained in the registration statement filed with the Commission on Form 10-SB.

















FIRSTWAY ENTERPRISES, INC.

(A DEVELOPMENT STAGE COMPANY)

BALANCE SHEET

(UNAUDITED)

AS OF SEPTEMBER 30, 2007





|                                                                                                         |                             
|-------------------------------------------------------------------------------------------------------- | ----------------------------
|                                                                                                         | September 30, 2007          
|ASSETS                                                                                                   |                             
|Current Assets                                                                                           |                             
|Cash and cash equivalents                                                                                | $                          -
|Total Current Assets                                                                                     | $                          -
|                                                                                                         |                             
|Total Assets                                                                                             | $                          -
|                                                                                                         |                             
|LIABILITIES AND STOCKHOLDERS EQUITY                                                                     |                             
|Current Liabilities                                                                                      | $                          -
|Total Liabilities                                                                                        | $                          -
|                                                                                                         |                             
|Stockholders Equity (Deficit)                                                                           |                             
|Preferred stock - $.0001 par value; 20,000,000 shares authorized;
0 shares issued and outstanding        |                             
|Common stock - $.0001 par value; 250,000,000 shares authorized;
31,340,000 shares issued and outstanding | 3,134                       
|Deficit accumulated during development stage                                                             | (3,134)                     
|Total Stockholders Equity (Deficit)                                                                     | $                          -
|Total Liabilities and Stockholders Equity                                                               | $                          -







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













FIRSTWAY ENTERPRISES, INC.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF OPERATIONS

(UNAUDITED)

FOR THE QUARTER ENDED SEPTEMBER 30, 2007, AND FROM

INCEPTION (JANUARY 9, 2007) THROUGH SEPTEMBER 30, 2007





|                                        |                                               |                                                  
|--------------------------------------- | --------------------------------------------- | -------------------------------------------------
|                                        | For the Three Months Ended September 30, 2007 | January 9, 2007
(inception) to
September 30, 2007
|Revenues                                |                                               |                                                  
|Revenues                                | $                       -                     | $                            -                   
|Total Revenues                          | $                       -                     | $                            -                   
|                                        |                                               |                                                  
|Operating Costs and Expenses            |                                               |                                                  
|Organization and related expenses       | -                                             | 3,134                                            
|Total Operating Costs and Expenses      | $                       -                     | $                     3,134                      
|                                        |                                               |                                                  
|Net Income (Loss)                       | $                       -                     | $                   (3,134)                      
|                                        |                                               |                                                  
|Basic and diluted loss per common share | $                       -                     | $                     (0.00)                     
|Basic and diluted weighted average      |                                               |                                                  
|Common shares outstanding               | 31,340,000                                    | 31,340,000                                       









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















FIRSTWAY ENTERPRISES, INC.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS

(UNAUDITED)

FOR THE QUARTER ENDED SEPTEMBER 30, 2007, AND FROM

INCEPTION (JANUARY 9, 2007) THROUGH SEPTEMBER 30, 2007





|                                                     |                                               |                                                  
|---------------------------------------------------- | --------------------------------------------- | -------------------------------------------------
|                                                     | For the Three
Months Ended
September 30, 2007 | January 9, 2007
(inception) to
September 30, 2007
|Cash Flows from Operating Activities                 |                                               |                                                  
|Net income (loss)                                    | -                                             | (3,134)                                          
|Changes in working capital                           | -                                             | 3,134                                            
|Net Cash Provided (Used) by Operating Activities     | $                     -                       | $                      -                         
|                                                     |                                               |                                                  
|Cash Flows from Investing Activities                 | -                                             | -                                                
|Net Cash Used in Investing Activities                | $                     -                       | $                      -                         
|                                                     |                                               |                                                  
|Cash Flows from Financing Activities                 | -                                             | -                                                
|Net Cash Provided by Financing Activities            | $                     -                       | $                      -                         
|                                                     |                                               |                                                  
|Net Change in Cash and Cash Equivalents              |                                               | -                                                
|                                                     |                                               |                                                  
|Cash and Cash Equivalents at Beginning of Period     | $                     -                       | $                      -                         
|                                                     |                                               |                                                  
|Cash and Cash Equivalents at End of Period           | $                     -                       | $                      -                         
|                                                     |                                               |                                                  
|Noncash Financing and Investment Activities          |                                               |                                                  
|Common stock issued to founder for services rendered | -                                             | 3,134                                            
|                                                     |                                               |                                                  
|Supplemental Cash Flow Information                   |                                               |                                                  
|Interest paid                                        | $                     -                       | $                      -                         
|Income taxes paid                                    | $                     -                       | $                      -                         







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





















FIRSTWAY ENTERPRISES, INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

AS OF SEPTEMBER 30, 2007







NOTE 1 - DESCRIPTION OF BUSINESS



Basis of Presentation



Firstway Enterprises, Inc. (the "Company") was incorporated under the laws of the State of Delaware on January 9, 2007.  The Company has been inactive since inception and intends to serve as a vehicle to effect an asset acquisition, merger, exchange of capital stock or other business combination with a domestic or foreign business.



The Company has not earned any revenue from operations.  Accordingly, the Company's activities have been accounted for as those of a Development Stage Enterprise" as set forth in Financial Accounting Standards Board Statement No. 7 ("SFAS 7").  The Company's financial statements are identified as those of a development stage company, and that the statements of operations, stockholders' equity and cash flows disclose activity since the date of the Company's inception.





NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES



Accounting Method



The Company's financial statements are prepared using the accrual method of accounting. The Company has elected a fiscal year ending on December 31.



Use of Estimates



The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and  assumptions that affect the reported amounts of  assets  and  liabilities, 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.



Cash Equivalents



The Company considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents.



Income Taxes



Income taxes are provided in accordance with Statement of Financial Accounting Standards No. 109 (SFAS 109), Accounting for Income Taxes.  A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards.  Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the



opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. There were no current or deferred income tax expenses or benefits due to the Company not having any material operations for period ended September 30, 2007.



Earnings per Share



The Company adopted the provisions of SFAS No. 128, "Earnings Per Share" ("EPS").  SFAS No. 128 provides for the calculation of basic and diluted earnings per share.   Basic EPS includes no dilution and is computed by dividing income or loss available to common stockholders by the weighted average number of common shares outstanding for the period.  Diluted EPS reflects the potential dilution of securities that could share in the earnings or losses of the entity.  Such amounts include shares potentially issuable pursuant to shares to be issued, convertible debentures and outstanding options and warrants.



Impact of New Accounting Standards



The Company does not expect the adoption of recently issued accounting pronouncements to have a material impact on the Company's results of operations, financial position, or cash flow.





NOTE 3 - GOING CONCERN



The Company's financial statements are prepared using the accrual method of accounting in accordance with accounting principles generally accepted in the United States of America ("GAAP"), and have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities in the normal course of business.  The Company currently has no source of revenue to cover its costs.  The Company will limit all operational activities to searching and consummating a business combination.  The Company will offer non-cash consideration and seek equity lines as the sole method of financing for the near term.  If the Company is unable to secure financing until a business combination is consummated, it may substantially limit or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders.





NOTE 4 - SHAREHOLDER'S EQUITY



On January 9, 2007, the Board of Directors issued 31,340,000 shares of common stock for $3,134 in services to the founding shareholder of the Company to fund organizational start-up costs.



The Company has the following classes of capital stock as of September 30, 2007:



Common stock  250,000,000 shares authorized; $0.0001 par value; 31,340,000 shares issued and outstanding.



Preferred stock  20,000,000 shares authorized; $0.0001 par value; no shares issued and outstanding.

















Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations



The following discussion and analysis should be read in conjunction with our financial statements and notes to the financial statements included elsewhere in this report as well as the Form 10-SB registration statement. This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act.  We intend that the forward-looking statements be subject to the safe harbors created by those sections.



BACKGROUND OF THE COMPANY



Firstway Enterprises, Inc. (the "Company") was organized on January 9, 2007, as a blank check or shell company under the Laws of the State of Delaware. The Company does not currently engage in any business activities that provide cash flow. From inception, the primary activity of the Company has been directed towards organizational efforts, compliance matters and locating potential merger or acquisition candidates. The Companys primary purpose is to engage in a merger with or acquisition of one or more private domestic or foreign companies.



The Company is continuing its efforts to locate a merger candidate for the purpose of a merger. It is possible that the Company will be successful in locating such a merger candidate and closing such merger. However, if the Company cannot effect a non-cash acquisition, the Company may have to raise funds from a private offering of its securities under Rule 506 of Regulation D. There is no assurance the Company would obtain any such equity funding.



GENERAL OVERVIEW



The Company's activities since inception have been limited to organizational matters, compliance efforts and locating potential merger candidates, and the Company has not engaged in any operating activity since its inception.



The Company has registered its Common Stock on a Form 10-SB registration statement filed pursuant to the Securities Exchange Act of 1934 (the Exchange Act) and Rule 12(g) thereof. The Company files with the U.S. Securities and Exchange Commission periodic reports under Rule 13(a) of the Exchange Act, including quarterly reports on Form 10-QSB and annual reports on Form 10-KSB.



The Company was formed to engage in a merger with or acquisition of an unidentified private company which desires to become a reporting (public) company whose securities are qualified for trading in the United States secondary market. The Company meets the definition of a blank check company contained in Section 7(b)(3) of the Securities Act of 1933, as amended.



The Company believes that there are perceived benefits to being a reporting company with a class of publicly-traded securities which may be attractive to foreign and domestic private companies.



These benefits are commonly thought to include:



1.

the ability to use registered shares to make acquisition of assets or businesses;



2.

increased visibility in the financial community;



3.

the facilitation of borrowing from financial institutions;



4.

improved trading efficiency;



5.

shareholder liquidity;



6.

greater ease in subsequently raising capital;



7.

compensation of key employees through options for stock for which there is a public market;



8.

enhanced corporate image; and,



9.

a presence in the United States capital market.



A private company which may be interested in a business combination with the Company may include the following:



1.

a company for which a primary purpose of becoming public is the use of its securities for the acquisition of assets or businesses;

2.

a company which is unable to find an underwriter of its securities or is unable to find an underwriter of securities on terms acceptable to it;

3.

a company which wishes to become public with less dilution of its Common Stock than would occur normally upon an underwriting;

4.

a company which believes that it will be able to obtain investment capital on more favorable terms after it has become public;

5.

a foreign company which may wish an initial entry into the United States securities market;

6.

a special situation company, such as a company seeking a public market to satisfy redemption requirements under a qualified Employee Stock Option Plan; and,

7.

a company seeking one or more of the other benefits believed to attach to a public company.



The Company is authorized to enter into a definitive agreement with a wide variety of private businesses without limitation as to their industry or revenues. It is not possible at this time to predict with which private company, if any, the Company will enter into a definitive agreement or what will be the industry, operating history, revenues, future prospects or other characteristics of that company.



As of the date hereof, management of the Company has not made any final decision for a business combination with any private corporations, partnerships or sole proprietorships. When any such agreement is reached or other material fact occurs, the Company will file notice of such agreement or fact with the U.S. Securities and Exchange Commission on Form 8-K. Persons reading this Form 10-QSB are advised to see if the Company has subsequently filed a Form 8-K.



There is presently no trading market for the Company's common stock and no market may ever exist for the Company's common stock. The Company plans to apply for a corporate CUSIP # for its common stock and to assist broker-dealers in complying with Rule 15c2-11 of the Securities Exchange Act of 1934, as amended, so that such brokers can trade the Company's common stock in the Over-The-Counter Electronic Bulletin Board (the "OTC Bulletin Board" or OTC-BB) after the Company is no longer classified as a "blank check" or shell company, as defined by the U.S. Securities and Exchange Commission. There can be no assurance to investors that any broker-dealer will actually file the materials required in order for such OTC Bulletin Board trading to proceed.



The U.S. Securities and Exchange Commission has adopted a rule (Rule 419) which defines a blank-check company as (i) a development stage company, that is (ii) offering penny stock, as defined by Rule 3a51-1, and (iii) that has no specific business plan or purpose or has indicated that its business plan is engage in a merger or acquisition with an unidentified company or companies.



BUSINESS COMBINATION



The Company will attempt to locate and negotiate with a business entity for the combination of that target company with the Company.  The combination will normally take the form of a merger, stock-for-stock exchange or stock-for-assets exchange (the "business combination").  In most instances the target company will wish to structure the business combination to be within the definition of a tax-free reorganization under Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended.  No assurances can be given that the Company will be successful in locating or negotiating with any target business.



The Company has not restricted its search for any specific kind of businesses, and it may acquire a business which is in its preliminary or development stage, which is already in operation, or in essentially any stage of its business life. It is impossible to predict the status of any business in which the Company may become engaged, in that such business may need to seek additional capital, may desire to have its shares publicly traded, or may seek other perceived advantages which the Company may offer.



In implementing a structure for a particular business acquisition, the Company may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another corporation or entity.



It is anticipated that any securities issued in any such business combination would be issued in reliance upon exemption from registration under applicable federal and state securities laws.  In some circumstances, however, as a negotiated element of its transaction, the Company may agree to register all or a part of such securities immediately after the transaction is consummated or at specified times thereafter. If such registration occurs, it will be undertaken by the surviving entity after the Company has entered into an agreement for a business combination or has consummated a business combination. The issuance of additional securities and their potential sale into any trading market which may develop in the Company's securities may depress the market value of the Company's securities in the future if such a market develops, of which there is no assurance.



The Company will participate in a business combination only after the negotiation and execution of appropriate agreements.  Negotiations with a target company will likely focus on the percentage of the Company which the target company shareholders would acquire in exchange for their shareholdings.



Although the terms of such agreements cannot be predicted, generally such agreements will require certain representations and warranties of the parties thereto, will specify certain events of default, will detail the terms of closing and the conditions which must be satisfied by the parties prior to and after such closing and will include miscellaneous other terms.  Any merger or acquisition effected by the Company can be expected to have a significant dilutive effect on the percentage of shares held by the Company's shareholders at such time.



LIQUIDITY AND OPERATIONAL RESULTS



The Company has no current operating history and does not have any revenues or earnings from operations. The Company has no assets or financial resources. We will, in all likelihood, sustain operating expenses without corresponding revenues, at least until the consummation of a business combination. This may result in the Company incurring a net operating loss that will increase continuously until the Company can consummate a business combination with a profitable business opportunity. There is no assurance that we can identify such a business opportunity and consummate such a business combination.



We are dependent upon our officers to meet any de minimis costs that may occur. Mr. William Tay, an officer and director of the Company, has agreed to provide the necessary funds, without interest, for the Company to comply with the Securities Exchange Act of 1934, as amended; provided that he is an officer and director of the Company when the obligation is incurred. All advances are interest-free.



LIQUIDITY AND CAPITAL RESOURCES



At September 30, 2007, the Company had no cash and no other assets.



ACCOUNTING FOR BUSINESS COMBINATION



In July 2001, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards "SFAS" No. 141, "Business Combinations" and SFAS No. 142, "Goodwill and Other Intangible Assets." SFAS No. 141 requires business combinations initiated after June 30, 2001 to be accounted for using the purchase method of accounting, and broadens the criteria for recording intangible assets separate from goodwill. Recorded goodwill and intangibles will be evaluated against these new criteria and may result in certain intangibles being subsumed into goodwill, or alternatively, amounts initially recorded as goodwill may be separately identified an recognized apart from goodwill. SFAS No. 142 requires the use of a non-amortization approach to account for purchased goodwill and certain intangibles. Under a non-amortization approach, goodwill and certain intangibles is more than its fair value. Goodwill is the excess of the acquisition costs of the acquired entity over the fair value of the identifiable net assets acquired. The Company is required to test goodwill and intangible assets that are determined to have an indefinite life for impairments at least annually. The provisions of SFAS No. 142 require the completion of an annual impairment test with any impairment recognized in current earnings. The provisions of SFAS No. 141 and SFAS No. 142 may be applicable to any business combination that we may enter into in the future.



We have also been informed that most business combinations will be accounted for as a reverse acquisition with us being the surviving registrant. As a result of any business combination, if the acquired entity's shareholders will exercise control over us, the transaction will be deemed to be a capital transaction where we are treated as a non-business entity. Therefore, the accounting for the business combination is identical to that resulting from a reverse merger, except no goodwill or other intangible assets will be recorded. For accounting purposes, the acquired entity will be treated as the accounting acquirer and, accordingly, will be presented as the continuing entity.



OFF-BALANCE SHEET ARRANGEMENTS



We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.



GOING CONCERN



The financial statements included in this filing have been prepared in conformity with generally accepted accounting principles that contemplate the continuance of us as a going concern. Our lack of cash is inadequate to pay all of the costs associated with our operations. Management intends to use borrowings and security sales to mitigate the effects of its cash position, however no assurance can be given that debt or equity financing, if and when required will be available. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets and classification of liabilities that might be necessary should we be unable to continue existence.



STATEMENT REGARDING FORWARD-LOOKING INFORMATION



This report contains various forward-looking statements that are based on the Company's beliefs as well as assumptions made by and information currently available to the Company. When used in this report, the words "believe," "expect," "anticipate," "estimate" and similar expressions are intended to identify forward-looking statements. Such statements may include statements regarding seeking business opportunities, payment of operating expenses, and the like, and are subject to certain risks, uncertainties and assumptions which could cause actual results to differ materially from projections or estimates contained  herein.  Factors which could cause actual results to differ materially include, among others, unanticipated delays or difficulties in location of a suitable business acquisition candidate, unanticipated or unexpected costs and expenses, competition and changes in market conditions, lack of adequate management personnel and the like.  Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially form those anticipated, estimated or projected. The Company cautions again placing undue reliance on forward-looking statements all of that speak only as of the date made.



Item 3. Controls and Procedures



An evaluation was carried out under the supervision and with the participation of the Companys management, including the Chief Executive Officer, of the effectiveness of the Companys disclosure controls and procedures as of September 30, 2007. Based on that evaluation, the CEO had concluded that the Companys disclosure controls and procedures are effective to provide reasonable assurance that: (i) information required to be disclosed by the Company in reports that it files or submits under the Securities Exchange Act of 1934 is accumulated and communicated to the Companys management, including the CEO, as appropriate to allow timely decisions regarding required disclosure by the Company; and (ii) information required to be disclosed by the Company in reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms.



During the quarter ended September 30, 2007, there were no changes in the Companys internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, its internal control over financial reporting.



PART II - OTHER INFORMATION



Item 1. Legal Proceedings



There are not presently any material pending legal proceedings to which the Company is a party or as to which any of its property is subject, and no such proceedings are known to the Company to be threatened or contemplated against it.



Item 2. Changes in Securities



Not applicable



Item 3. Defaults upon Senior Securities.



Not applicable



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



Not applicable



Item 5. Other Information.



On October 12, 2007, William Tay, our current sole officer, director and shareholder, entered into a Share Purchase Agreement (the Agreement) for the private sale of 31,026,600 shares of the Companys common stock (the Shares) held by him to Russell B. Adler of Miami, Florida (the Purchaser). The Agreement calls for a Closing of on or before October 22, 2007. As of the date of this report on Form 10-QSB (November 14, 2007), the Purchaser has failed to meet his obligations as outlined in the Agreement, particularly the Purchaser has not made full payment for the Shares under the Agreement. Therefore no change of ownership has occurred pursuant to the terms of the Agreement.



Item 6. Exhibits



Exhibit Number, Name and/or Identification of Exhibit



|   |                                                                                                                                                                              
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|31 | Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                           
|   |                                                                                                                                                                              
|32 | Certification of the Chief Executive Officer and Chief Financial Officer pursuant to U.S.C. Section 1350 as adopted pursuant to Section 906 of the 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.



Firstway Enterprises, Inc.

(Registrant)



Date: November 14, 2007







By:    /s/ William Tay

Name: William Tay

Title: Chief Executive Officer, Principal

Financial Officer and Director