----

----

|   | x | QUARTERLY      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|---|---------------------------------------------------------------------------------------------|

|   | o  | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE  ACT |
|--------|---------|-----------------------------------------------------------------------|

|        Delaware                                                               |        37-1532843                       |
|-----------------------------------------------------------------------------------------|----------------------------------------------|
|   (State      or other jurisdiction of incorporation or    organization) |  (IRS      Employer Identification No.) |
|                                                                                    |                                         |

| Large      accelerated filer o                                                                   | Accelerated      filer o         |
|--------------------------------------------------------------------------------------------------|----------------------------------|
| Non-accelerated      filer o   (Do      not check if a smaller reporting company) | Smaller      reporting company x |

----

----

| PART      I.      | FINANCIAL      INFORMATION                                                                                                                                                                          |  Page       Number |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------|
|                   |                                                                                                                                                                                                |                         |   |
| Item      1.           | Financial      Statements                                                                                                                                                                           | F-1                          |   |
|                   |                                                                                                                                                                                                |                         |   |
|                   | Condensed       Balance Sheet as of June 30, 2008 (unaudited) and December 31, 2007                                                                                                       |  F-2                    |   |
|                   |                                                                                                                                                                                                |                         |   |
|                   | Condensed  Statements      of Losses for the three and six months Ended June 30, 2008 and 2007, and      From October 30, 2006 (Date of Inception) through June 30, 2008      (unaudited) |  F-3                    |   |
|                   |                                                                                                                                                                                                |                         |   |
|                   | Condensed       Statements of Cash Flows for the six months Ended June 30, 2008 and 2007,      and From October 30, 2006 (Date of Inception) through June 30, 2008      (unaudited)            |  F-4                    |   |
|                   |                                                                                                                                                                                                |                         |   |
|                   | Notes      to Condensed Financial Statements (unaudited)                                                                                                                                            |  F-5-      F-8     |
|                   |                                                                                                                                                                                                |                         |   |
|  Item      2.     | Management's      Discussion and Analysis of Financial Condition and Results of      Operations                                                                                                     | 3                            |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item      3.           | Quantitative      and Qualitative Disclosures about Market Risk                                                                                                                                     | 4                            |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item      4T.          | Controls      and Procedures                                                                                                                                                                        |  4                      |   |
|                   |                                                                                                                                                                                                |                         |   |
| PART      II.          | OTHER      INFORMATION                                                                                                                                                                              |  5                      |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item      1.           | Legal      Proceedings                                                                                                                                                                              |  5                      |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item1A.                | Risk      Factors                                                                                                                                                                                   | 5                            |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item      2.           | Unregistered      Sales of Equity Securities and Use of Proceeds                                                                                                                                    |  5                      |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item      3.           | Defaults      Upon Senior Securities                                                                                                                                                                |  5                      |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item      4.           | Submission      of Matters to a Vote of Security Holders                                                                                                                                            |  5                      |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item      5.           | Other      Information                                                                                                                                                                              |  5                      |   |
|                   |                                                                                                                                                                                                |                         |   |
| Item      6.           | Exhibits                                                                                                                                                                                            |  5                      |   |
|                   |                                                                                                                                                                                                |                         |   |
| SIGNATURES        |  6                                                                                                                                                                                             |                         |

----

|                                                                                                                                                                                     |        Page                         |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------|
| Financial      Statements:                                                                                                                                                               |                                     |
|                                                                                                                                                                                     |                                     |
| Condensed      Balance Sheet as of June 30, 2008 (unaudited) and December 31,      2007                                                                                                  | F -      2                          |
|                                                                                                                                                                                     |                                     |
| Condensed      Statements of Losses for the three and six months Ended June 30, 2008 and      2007, and From October 30, 2006 (Date      of Inception) through June 30, 2008 (unaudited) | F -      3                          |
|                                                                                                                                                                                     |                                     |
| Condensed      Statements of Cash Flows for the six months Ended June 30, 2008 and 2007,      and From October 30, 2006 (Date      of Inception) through June 30, 2008 (unaudited)       | F -      4                          |
|                                                                                                                                                                                     |                                     |
| Notes      to Condensed Financial Statements (unaudited)                                                                                                                                 |        F - 5 - F -      8 |

----

|                                                                                                                                                                              |   | June 30, 2008      (unaudited) |   |   | December 31,      2007 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|--------|--------|------------------------|--------|
| ASSETS                                                                                                                                                                            |   |                           |   |   |                   |   |
| Current      Assets:                                                                                                                                                              |   |                           |   |   |                   |   |
| Cash      and cash equivalents                                                                                                                                                    |   | $                              | 16,499 |   |                   | $      | 16,999 |   |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| Total      Assets                                                                                                                                                                 |   | $                              | 16,499 |   |                   | $      | 16,999 |   |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                                                                                         |   |                           |   |   |                   |   |   |   |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| Current      Liabilities:                                                                                                                                                         |   |                           |   |   |                   |   |   |   |
| Accrued      expenses related to incorporation                                                                                                                                    |   | $                              | 1,493  |   |                   | $      | 1,493 |   |
| Accounts      payable                                                                                                                                                             |   |                           | 1,296  |   |                   |   | 1,296 |   |
| Total      Current Liabilities                                                                                                                                                    |   |                           | 2,789  |   |                   |   | 2,789 |   |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| Long      Term Liabilities:                                                                                                                                                       |   |                           | -      |   |                   |   | - |   |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| Total      Liabilities                                                                                                                                                            |   |                           | 2,789  |   |                   |   | 2,789 |   |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| Commitments      and Contingencies                                                                                                                                                |   |                           |   |   |                   |   |   |   |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| Stockholders’      Equity:                                                                                                                                                  |   |                           |   |   |                   |   |   |   |
| Preferred      stock, par value $0.001; 10,000,000 shares authorized, no issued and      outstanding as of  June      30, 2008 and December 31, 2007, respectively |   |                           | -      |   |                   |   | - |   |
| Common      stock, $0.001 par value; 40,000,000 authorized; 1,000,000 issued and      outstanding as ofJune      30, 2008 and  December 31, 2007,    respectively       |   |                           | 1,000  |   |                   |   | 1,000 |   |
| Additional      paid in capital                                                                                                                                                   |   |                           | 16,500 |   |                   |   | 16,500 |   |
| Accumulated      deficit during development stage                                                                                                                                 |   |                           | (3,790 | )      |                   |   | (3,290 | ) |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| Total      Stockholders' Equity                                                                                                                                                   |   |                           | 13,710 |   |                   |   | 14,210 |   |
|                                                                                                                                                                              |   |                           |   |   |                   |   |   |   |
| Total      Liabilities and Stockholders' Equity                                                                                                                                   |   | $                              | 16,499 |   |                   | $      | 16,999 |   |

----

|                                                                   |   |                                        |      |   |                                        |   | For the      Period  |   |
|------------------------------------------------------------------------|--------|---------------------------------------------|-----------|--------|---------------------------------------------|--------|---------------------------|--------|
|                                                                   |   |                                        |      |   |                                        |   | From      October         |   |
|                                                                   |   |                                        |      |   |                                        |   |  30,       2006 |   |
|                                                                   |   | For the Three Months      Ended   |      |   | For the Three Months      Ended   |   | (Date      of Inception)  |   |
|                                                                   |   | June      30,                     |      |   | June      30,                     |   | to      June 30,          |   |
|                                                                   |   | 2008                              |      |   | 2007                              |   |                      | 2008   |   |   | 2007   |   |  2008 |   |
|                                                                   |   |                                        |      |   |                                        |   |                      |   |   |   |   |   |   |   |   |
| Operating      Expenses:                                               |   |                                        |      |   |                                        |   |                      |   |   |   |   |   |   |   |   |
| Selling,      general and administrative expenses                 |   | $                                           | 500       |   |                                        |   | --                        |   |   | $ | 500 |   |   | $ | -- |   | $  |  3,790 |   |
| Net      Loss                                                          |   | $                                           | (500      | )      |                                        | $      | --                        |   |   | $ | (500 | ) |   | $ | -- |   | $  | (3,790 | )  |
|                                                                   |   |                                        |      |   |                                        |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss per common share (basic and diluted)                     |   | $                                           | (0.001    | )      |                                        | $      | (0.000                    | )      |   | $ | (0.001 | ) |   | $ | (0.000 | ) | $  |  (0.004 | )  |
| Weighted      average number of shares outstanding (basic and diluted) |   |                                        | 1,000,000 |   |                                        |   | 1,000,000                 |   |   |   | 1,000,000 |   |   |   | 1,000,000 |   |   | 1,000,000 |   |

----

|                                                                                  |   | For      the Six Months Ended June 30, 2008 |   |          | For      the Six Months Ended June 30, 2007 |   |  For      the Period From October 30, 2006 (Date of      Inception) to      June 30, 2008  |   |
|---------------------------------------------------------------------------------------|--------|---------------------------------------------|--------|---------------|---------------------------------------------|--------|------------------------------------------------------------------------------------------------------|--------|
| Cash      Flow from Operating Activities:                                             |   |                                        |   |          |                                        |   |                                                                                                 |   |   |
| Net      loss                                                                         |   | $                                           | (500   | )   |                                        | $      | -                                                                                                    |   | $  |  (3,790 | )  |
| Adjustments      to reconcile net loss to net cash used in operating      activities: |   |                                        |   |          |                                        |   |                                                                                                 |   |   |   |   |
| Changes      in operating assets and liabilities:                                     |   |                                        |   |          |                                        |   |                                                                                                 |   |   |   |   |
| Accounts      payable and accrued expenses                                            |   |                                        | -      |          |                                        |   | -                                                                                                    |   |   | 2,789 |   |
|                                                                                  |   |                                        |   |          |                                        |   |                                                                                                 |   |   |   |   |
| Net      Cash Used in Operating Activities                                            |   |                                        | (500   | )        |                                        |   | -                                                                                                    |   |   | (1,001 | )  |
|                                                                                  |   |                                        |   |          |                                        |   |                                                                                                 |   |   |   |   |
| Cash      Flow from Investing Activities:                                             |   |                                        | -      |          |                                        |   | -                                                                                                    |   |   | - |   |
|                                                                                  |   |                                        |   |          |                                        |   |                                                                                                 |   |   |   |   |
| Cash      Flow Financing Activities:                                                  |   |                                        |   |          |                                        |   |                                                                                                 |   |   |   |   |
| Proceeds      from issuance of common stock to founders                               |   |                                        | -      |          |                                        |   | -                                                                                                    |   |   | 17,500 |   |
| Net      Cash Provided By Financing Activities:                                       |   |                                        | -      |          |                                        |   | -                                                                                                    |   |   | 17,500 |   |
|                                                                                  |   |                                        |   |          |                                        |   |                                                                                                 |   |   |   |   |
| Net      (Decrease) Increase in Cash and Cash Equivalents                             |   |                                        | (500   | )        |                                        |   |                                                                                                 |   |   | 16,499 |   |
| Cash      and Cash Equivalents at beginning of period                                 |   |                                        | 16,999 |          |                                        |   | 17,500                                                                                               |   |   | - |   |
| Cash      and Cash Equivalents at end of period                                       |   | $                                           | 16,499 |          |                                        | $      | 17,500                                                                                               |   | $  | 16,499 |   |

----

|   | (a) | Organization and      Business: |
|--------|-----|---------------------------------|

|   | (b) | Development Stage      Company: |
|--------|-----|---------------------------------|

|   | (c) | Use of      Estimates: |
|--------|-----|------------------------|

|   | (d) | Cash and Cash      Equivalents: |
|--------|-----|---------------------------------|

----

|   | (e) | Income      Taxes: |
|--------|-----|--------------------|

|   | (f) | Loss per Common      Share: |
|--------|-----|-----------------------------|

|   | (g) | Fair Value of Financial      Instruments: |
|--------|-----|-------------------------------------------|

----

----

----

| ●         | Our      ability to attract and retainmanagement, |
|---------------------------------------------------------|---------------------------------------------------|

| ●         | Our      ability to raise capital when needed and on acceptable terms and      conditions; |
|---------------------------------------------------------|--------------------------------------------------------------------------------------------|

| ●         | The      intensity of competition; and |
|---------------------------------------------------------|----------------------------------------|

| ●         | General      economic conditions. |
|---------------------------------------------------------|-----------------------------------|

----

----

| Part      II.  | OTHER      INFORMATION |
|---------------------|------------------------|

| Item       1.      | Legal      Proceedings |
|--------------------------------------------------|------------------------|

| Item       1A.  | Risk    Factors |
|---------------------------|-----------------|

| Item      2.  | Unregistered Sales of Equity      Securities and Use ofProceeds |
|--------------------|-----------------------------------------------------------------|

| Item      3.  | Defaults Upon Senior      Securities |
|--------------------|--------------------------------------|

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

| Item      5.  | Other      Information |
|--------------------|------------------------|

| Item      6.    | Exhibits |
|--------------------------------|----------|

| (a)   | Exhibits |
|-----------------|----------|

| Exhibit      Number |   | Description of      Exhibit                                                                                                                                                                                   |
|---------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                |   |                                                                                                                                                                                                          |
| 31                  |   | Certification      of Principal Executive Officer and Principal Financial Officer pursuant to      Rule 13a-14 and Rule 15d-14(a), promulgated under the Securities and      Exchange Act of 1934, as amended |
|                |   |                                                                                                                                                                                                          |
| 32                  |   | Certification      of Principal Executive Officer and Principal Financial Officer pursuant to      18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002          |

----

|                       | Mondo Acquisition III,      Inc. |                                                                                             |
|----------------------------|----------------------------------|--------------------------------------------------------------------------------------------------|
|                       |                             |                                                                                             |   |
| Date:      August 12, 2008 | By:                              | /s/ Thomas      A. Rose                                                                     |   |
|                       |                             | Thomas      A. Rose                                                                              |   |
|                       |                             | President      (Principal Executive Officer and Principal Financial and Accounting      Officer) |   |