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

                                   FORM 10-QSB

|X|   Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act
      of 1934 For the quarterly period ended November 30, 2005

|_|   Transition Report Under Section 13 or 15(d) of the Securities Exchange
      Act; For the transition period from _________ to __________

Commission File Number #000-1024048

                                 HOMELIFE, INC.

        (Exact name of small business issuer as specified in its charter)

             Nevada                                      33-0680443
------------------------------               ---------------------------------
(State or other jurisdiction of              (I.R.S. Employer incorporation or
         organization)                               Identification No.)


         1503 South Coast Drive, Suite 204, Costa Mesa, CA       92626
         ----------------------------------------------------------------
         (Address of Principal Executive Offices)              (Zip Code)

               Registrant's telephone number, including area code:
                                 (714) 241-3030

         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 |_|

            The issuer had 12,371,886 common shares outstanding as of November
30, 2005

Transitional Small Business Disclosure Format (check one):

                                                              Yes |_| No |X|

<PAGE>

                                 HOMELIFE, INC.

                                      INDEX
                                                                       PAGE NO.
                                                                       --------

PART I - FINANCIAL INFORMATION                                               1.

Item 1. Financial Statements                                                 1.

         Consolidated Balance Sheet at November 30, 2005 (Unaudited)         1.

         Consolidated Statements of Operations for the three months ended    3.
                  November 30, 2005 and 2004 (Unaudited)

         Consolidated Statements of Operations for the six months ended      4.
                  November 30, 2005 and 2004 (Unaudited)

         Consolidated Statements of Cash Flows for the six months ended      5.
                  November 30, 2005 and 2004 (Unaudited)

         Notes to Consolidated Financial Statements                          6.

Item 2. Management's Discussion and Analysis of Financial Condition and
         Results of Operation.                                               7.

Item 3. Controls and Procedures.                                            10.

PART II - OTHER INFORMATION                                                 10.

Item 1. Legal Proceedings.                                                  10.

Item 2. Changes in Securities and Use of Proceeds.                          11.

Item 3. Defaults Upon Senior Securities.                                    11.

Item 4. Submission of Matters to a Vote of Security Holders.                11.

Item 5. Other Information.                                                  11.

Item 6. Exhibits and Reports on Form 8-K.                                   11.
         (a)      Exhibits
         (b) Reports on Form 8-K

Signatures.                                                                 12.

<PAGE>

PART I - FINANCIAL INFORMATION



HOMELIFE, INC. AND SUBSIDIARIES
Consolidated Balance Sheet
At November 30, 2005
(unaudited)


ASSETS
         Current Assets
         Cash                                   $ 87,003
         Marketable securities, at fair value        900
         Accounts receivable, net                  1,986
         Prepaid expenses and deposits            35,286
                                                --------
         Total Current Assets                    125,175

         Property and Equipment, net              34,458

         Other Assets
         Goodwill                                225,943

         Other Intangible Assets, net             68,911
                                                --------


         Total Assets                           $454,487
                                                ========


                                       1
<PAGE>

HOMELIFE, INC. AND SUBSIDIARIES
Consolidated Balance Sheet (Continued)
At November 30, 2005
 (unaudited)


LIABILITIES AND STOCKHOLDERS' EQUITY
         Current Liabilities

         Lines of credit                               $    60,833
         Accounts payable                                  183,997
         Reserve for warranty                               51,953
         Note payable                                        4,576
         Deferred revenue                                   42,645
                                                       -----------
         Total Current Liabilities                         344,004

         Other Liabilities
         Note Payable                                       15,886

         Due to Stockholder                                143,957
                                                       -----------

         Total Liabilities                                 503,847

         Minority Interest                                  20,843

         Stockholders' Deficit

         Capital Stock                                   1,037,372

         Additional Paid in Capital                      3,731,741

         Accumulated Other Comprehensive Income              4,715

         Accumulated Deficit                            (4,844,031)
                                                       -----------

         Total Stockholders' Deficit                       (70,203)


         Total Liabilities and Stockholders' Deficit   $   454,487
                                                       ===========


                                       2
<PAGE>

HOMELIFE, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
Three months ended November 30, 2005 and 2004
(unaudited)

                                   2005            2004
                               ------------    ------------
REVENUE

Royalty and franchise fees     $     94,650    $    100,819
Warranty fees                        32,781          27,534
Brokerage Income                     18,551              --
Other income                          3,330           3,159
                               ------------    ------------

Total Revenue                       149,312         131,512

DIRECT COSTS                         33,946          13,850
                               ------------    ------------

                                    115,366         117,662
                               ------------    ------------
EXPENSES

Salaries and fringe benefits         52,346          44,251
General and administrative           64,008          82,259
Occupancy                            11,625          12,987
Financial                             3,483           1,216
Depreciation                         15,000          15,900
Amortization                         12,963          12,963
                               ------------    ------------

Total Expenses                      159,425         169,576
                               ------------    ------------


 NET LOSS                           (44,059)        (51,914)


BASIC AND FULLY DILUTED LOSS   $      (0.00)   $      (0.00)
PER COMMON SHARE
                               ============    ============


WEIGHTED-AVERAGE NUMBER OF       12,371,886      12,371,886
 COMMON SHARES


                                       3
<PAGE>

HOMELIFE, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
Six months ended November 30, 2005 and 2004
(unaudited)


                                   2005            2004
                               ------------    ------------
REVENUE

Royalty and franchise fees     $    244,952    $    218,778
Warranty fees                        63,252          61,714
Brokerage Income                     37,551           8,355
Other income                         15,109           6,208
                               ------------    ------------

Total Revenue                       360,864         295,055

DIRECT COSTS                         97,535          43,707
                               ------------    ------------

                                    263,329         251,348
                               ------------    ------------
EXPENSES

Salaries and fringe benefits        114,741         100,303
General and administrative          156,830         122,520
Occupancy                            23,091          27,884
Financial                             7,794           2,316
Depreciation                         30,000          31,801
Amortization                         25,926          25,926
                               ------------    ------------

Total Expenses                      358,382         310,750
                               ------------    ------------


 NET LOSS                           (95,053)        (59,402)


BASIC AND FULLY DILUTED LOSS   $      (0.01)   $      (0.00)
PER COMMON SHARE
                               ============    ============


WEIGHTED-AVERAGE NUMBER OF       12,371,886      12,371,886


                                       4
<PAGE>

HOMELIFE, INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
Six months ended November 30, 2005 and 2004
 (unaudited)


<TABLE>
<CAPTION>
                                                                          2005         2004
                                                                        ---------    ---------

<S>                                                                     <C>          <C>
         CASH FLOWS FROM OPERATING ACTIVITIES
         Net loss                                                       $ (95,053)   $ (59,402)
         Adjustments to reconcile net loss to net cash from operating
            activities
         Depreciation                                                      30,000       31,801
         Amortization                                                      25,926       25,926
         Changes in assets and liabilities
         Accounts receivable                                               12,360         (425)
         Prepaid expenses and deposits                                       (251)        (509)
         Accounts payable                                                  23,293      (41,348)
         Due to stockholder                                                14,973        7,589


         Net Cash Flows from Operating Activities                          11,248      (36,368)



         CASH FLOWS FROM INVESTING ACTIVITIES                                  --           --



         CASH FLOWS FROM FINANCING ACTIVITIES
         Advances from (repayments on) lines of credit, net                 2,545        3,667
         Proceeds from note payable                                            --       25,000
         Repayments on note payable                                        (2,150)        (670)

         Net Cash Flows from Financing Activities                             395       27,997


         NET CHANGE IN CASH                                                11,643       (8,371)
         Cash, beginning of period                                         75,360      112,974


         CASH, END OF PERIOD                                            $  87,003    $ 104,603
                                                                        =========    =========


SUPPLEMENTAL DISCLOSURE OF CASH
             FLOW INFORMATION
              Interest paid                                             $   2,495    $   2,035


              Income taxes paid                                         $      --    $      --



NON-CASH INVESTING AND FINANCING ACTIVITIES
                Payment of litigation settlement by stockholder                --    $  85,000
                                                                        =========    =========
</TABLE>


                                       5
<PAGE>

                         HOMELIFE, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


Note 1. MANAGEMENT'S PLAN AND FUTURE OPERATIONS

      At November 30, 2005, adverse principal conditions and events are
      prevalent that require necessary action by management to enable the
      company to return to profitability and to reverse these adverse conditions
      and events. These conditions and events include recurring operating
      losses, working capital deficiencies, and adverse key financial ratios.
      Management's plans to mitigate these adverse conditions and events
      include:

            a.) During the prior fiscal year, the company settled certain
      lawsuits regarding the former Calgary operations and the current Michigan
      operations which will further reduce legal fees and management
      involvement.

            b)The company is currently focusing on:

            -     attempting to raise additional funding through private and
                  public offering,

            -     investigating and pursuing potential mergers/acquisitions,

            -     the core business of franchising nationwide

            -     the company is making efforts to reduce unnecessary operating
                  expenses on a monthly basis

      The accompanying consolidated financial statements do not include any
      adjustments to the recoverability and classification of recorded asset
      amounts and classification of liabilities that might be necessary in the
      event that the Company is unable to continue as a going concern.

Note 2. BASIS OF CONSOLIDATED FINANCIAL STATEMENTS PRESENTATION

      The condensed consolidated financial statements of HomeLife, Inc. and
      Subsidiaries (the "Company") included herein have been prepared by the
      Company, without audit, pursuant to the rules and regulations of the
      Securities and Exchange Commission (the "SEC"). Certain information and
      footnote disclosures normally included in consolidated financial
      statements prepared in conjunction with generally accepted accounting
      principles have been condensed or omitted pursuant to such rules and
      regulations, although the Company believes that the disclosures are
      adequate to make the information presented not misleading. These condensed
      consolidated financial statements should be read in conjunction with the
      annual audited consolidated financial statements and the notes thereto
      included in the Company's Form 10-KSB Annual Report, and other reports
      filed with the SEC.

      The accompanying unaudited interim consolidated financial statements
      reflect all adjustments of a normal and recurring nature which are, in the
      opinion of management, necessary to present fairly the financial position,
      results of operations and cash flows of the Company for the interim
      periods presented. The results of operations for these periods are not
      necessarily comparable to, or indicative of, results of any other interim
      period of or for the fiscal year taken as a whole. Certain financial
      information that is not required for interim financial reporting purposes
      has been omitted.

      Reclassifications

      Certain amounts in the prior consolidated financial statements have been
      reclassified to conform with the current year presentation. The
      reclassifications made to the prior year have no impact on the net income
      (loss), or overall presentation of the consolidated financial statements.


                                       6
<PAGE>

Note 3. LETTER OF INTENT

      The Board of Directors of Homelife, Inc. had signed a letter of intent
      dated August 4, 2005 with R Capital Partners, Inc. for the sale of
      majority control of Homelife, Inc. and the subsequent acquisition by
      Homelife of 100% of the issued and outstanding shares owned by
      shareholders of Price Oil, Inc

      This agreement was terminated mutually by both parties on October 31,
      2005.



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

Overview

      The Company has experienced growth primarily through its acquisitions of
and combinations with various other companies. This includes the acquisition in
August 1996 of the Keim Group of Companies and MaxAmerica Home Warranty Company
(Michigan) adding 60 real estate offices and a home warranty company in
Michigan. In 1997, the company purchased certain assets of S & S Acquisition
Corp. providing the company with Red Carpet Real Estate Services and National
Real Estate Services adding 58 real estate offices. The acquisition of the real
estate computer technology of House by Mouse and Virtual Assistant provided the
Company with the ability to enhance its Internet communication services to its
franchises. In July 1997, the Company acquired the licensing agreements,
trademarks and franchise offices of Network Real Estate, Inc. This acquisition
provided the Company with an additional 12 offices in Northern California and
access to the "high-end" luxury division of "International Estates". In February
1998, the Company acquired Builders Realty (Calgary) Ltd. providing access to
the Alberta, Canada market in both retail real estate and mortgage loans.
Certain assets of Builders Realty (Calgary) were sold during fiscal year 2002.
On September 15, 1998, the Company purchased the stock of the investment banking
firm of Aspen, Benson and May, LLC for common stock.

      From time to time, the Company has entered into strategic alliances with
various companies in order to explore the cross-marketing of their services to
customers of the Company or its franchises. To date, these strategic alliances
have not included any funding agreements or other liabilities on the part of the
Company.

      The following is management's discussion and analysis of HomeLife's
financial condition and results of operations. Detailed information is contained
in the financial statements included with this document. This section contains
forward-looking statements that involve risks and uncertainties, such as
statements of the Company's plans, objectives, expectations and intentions. The
cautionary statements made in this document should be read as being applicable
to all related forward-looking statements wherever they appear in this document.



Three Months Ended November 30, 2005 (unaudited) compared to the Three Months
Ended November 30, 2004 (unaudited).

      Revenues. The Company generated gross sales of $149,312 for the quarter
ended November 30, 2005 compared to gross sales of $131,512 for the quarter
ended November 30, 2004. Revenue by business segment is shown below:

<TABLE>
<CAPTION>
                             November 30, 2005         November 30, 2004
                                   Amount         %          Amount          %
                                 ----------   ----------   ----------   ----------
<S>                              <C>          <C>          <C>                  <C>
      Royalty & franchise fees   $   94,650           64   $  100,819           77
      Home warranty sales            32,781           22       27,534           21
      Brokerage income               18,551           12           --           --
      Other                           3,330            2        3,159            2
                                 ----------   ----------   ----------   ----------
      TOTAL                      $  149,312          100   $  131,512          100
                                 ==========   ==========   ==========   ==========
</TABLE>


                                       7
<PAGE>

Royalty fees & franchise fees were lower in the current quarter due to lower
royalty fees in California. Home warranty fees were higher in current quarter
compared to the prior year due to more contracts written. Brokerage income is
higher in the current period due to the closing of real estate brokerage
transactions from the California office. Other income is comparable to the
second quarter of the prior fiscal year.

      Direct Costs. Direct costs in the current quarter have increased over the
same period in the prior year due to the addition of commissioned sales
managers. The Company is paying a commission on franchise and brokerage sales
which had not happened in previous years.

      Salaries and fringe benefits. Salaries and fringe benefits increased from
$44,251 for the three months ended November 30, 2004 to $52,346 for the three
months ended November 30, 2005. This increase is a net result of a two employees
hired in the Michigan office during the last quarter of the prior year.

      General and administrative. General and administrative costs decreased
$18,251 from the quarter ended November 30, 2004. The decrease was primarily due
to less professional fees and promotional expense during the current quarter.

      Occupancy. Occupancy costs were lower for the current quarter compared to
the prior year quarter as a result of the California corporate office move.

      Financial. Financial costs were higher for the quarter ended November 30,
2005 due to the accrued interest on the amount due to shareholder.

      Depreciation. Depreciation of fixed assets was comparable for both
periods.

      Amortization. Amortization of intangibles was comparable for both periods.


Six Months Ended November 30, 2005 (unaudited) compared to the Six Months Ended
November 30, 2004 (unaudited).

      Revenues. The Company generated gross sales of $360,864 for the six months
ended November 30, 2005 compared to gross sales of $295,055 for the six months
ended November 30, 2004. Revenue by business segment is shown below:

<TABLE>
<CAPTION>
                             November 30, 2005        November 30, 2004
                                   Amount          %         Amount          %
                                 ----------   ----------   ----------   ----------
<S>                              <C>          <C>          <C>                  <C>
      Royalty & franchise fees   $  244,952           68   $  218,778           74
      Home warranty sales            63,252           18       61,714           21
      Brokerage income               37,551           10        8,355            3
      Other                          15,109            4        6,208            2
                                 ----------   ----------   ----------   ----------
      TOTAL                      $  360,864          100   $  295,055          100
                                 ==========   ==========   ==========   ==========
</TABLE>

The company showed a growth in revenue of $65,809 or 22% over the six months
ended November 30, 2004. Royalty fees & franchise fees were higher in the
current first half of the year due to new franchises obtained in California.
Home warranty fees were slightly higher in current six months compared to the
prior year due to more contracts written. Brokerage income is higher in the
current period as a result of more real estate brokerage transactions from the
California office. Other income is higher in the current year due to more
relocation fees from the Michigan operations than in the prior year.

      Direct Costs. Direct costs as a percentage of revenue were 27% and 15% for
the six months ended November 30, 2005 and 2004, respectively. This increase in
direct costs results from the addition of commissioned sales managers. The
Company is paying a commission on franchise and brokerage sales which had not
happened in previous years.


                                       8
<PAGE>

      Salaries and fringe benefits. Salaries and fringe benefits increased by
$14,438 or 14% over the same period in the prior year. This increase is a net
result of two employees hired in the Michigan office during the last quarter of
the prior year.

      General and administrative. General and administrative costs increased
$34,310 from the period ended November 30, 2004. The increase was primarily due
to increased printing, convention and office expenditures in the first quarter
of the current year. Additionally, professional fees were higher in the current
first quarter than in the prior year.

      Occupancy. Occupancy costs were lower for the first half of the year
compared to the prior year as a result of the California corporate office move.

      Financial. Financial costs were higher for the six months ended November
30, 2005 due to the accrued interest on the amount due to shareholder.

      Depreciation. Depreciation of fixed assets was comparable for both
periods.

      Amortization. Amortization of intangibles was comparable for both periods.


Liquidity and capital resources. The Company has lines of credit with two banks
with available credit of $95,000 and a term loan of $25,000. The capital
requirements of the Company are for operating expenses and to service and use of
its lines of credit. The Company has recorded operating losses in the prior two
years. These losses are primarily due to amortization and depreciation and legal
fees incurred in defense of litigation actions. The company does not have any
derivative instruments or hedging activities, therefore, the company believes
that SFAS No. 133 will have no material impact on the company's financial
statements or notes thereto.

The company has experienced recurring operating losses and has a working capital
deficiency of $218,829 as of November 30, 2005. Management has initiated changes
in operational procedures, reduced staff and expenses and focused its efforts on
its core business. Management believes that, despite the losses incurred and the
deterioration in stockholders' equity, it has developed a plan, which, if
successfully implemented, can improve the operating results and financial
condition of the company. Furthermore, the company continues its attempt to
raise additional financings through private and public offerings.

Application of Critical Accounting Policies. The Company's financial statements
and accompanying notes are prepared in accordance with generally accepted
accounting principles in the United States. Preparing financial statements
requires management to make estimates and assumptions that affect the reported
amounts of assets, liabilities, revenue, and expenses. These estimates and
assumptions are affected by management's application of accounting policies.
Critical accounting policies for HomeLife include revenue recognition, goodwill
and accounting for income taxes.

HomeLife recognizes revenue in accordance with Staff Accounting Bulletin No.
101, "Revenue Recognition in Financial Statements". The Company recognizes
revenue when it is realized or realizable and earned. Income from the sale of
franchises is recognized over a 5-year period. Master franchise agreement fees
are recognized over 10 years. Royalty income stemming from the gross commissions
on the sales of real estate by the franchise offices is recognized at the date
of receipt; this is due to the complexity of attempting to forecast the actual
closing date of the properties. Warranty income is recognized over the term of
the contract which is usually 12 months; anticipated obligations which represent
incurred but not reported losses (IBNR) under these warranties have been
recorded as reserve for warranty and are based on past loss experience. Real
estate brokerage income is recognized at the close of escrow. Loan fees are
recognized as income when the loan is closed and funded at the close of escrow.
Revenue received or receivable, from the sale of franchises, master franchises
and warranties, which is not recognized as income is recorded on the balance
sheet as deferred revenue.


                                       9
<PAGE>

The company accounts for income tax under the provisions of Statement of
Financial Accounting Standards No. 109, which requires recognition of deferred
tax assets and liabilities for the expected future tax consequences of events
that have been included in the consolidated financial statements or tax returns.
Deferred income taxes are provided using the liability method. Under the
liability method, deferred income taxes are recognized for all significant
temporary differences between the tax and financial statement bases of assets
and liabilities. In addition, the company is required to record all deferred tax
assets, including future tax benefits of capital losses carried forward, and to
record a "valuation allowance" for any deferred tax assets where it is more
likely than not that the asset will not be realized.


Item 3.  Controls and Procedures

Based on the evaluation of the Company's disclosure controls and procedures by
Andrew Cimerman, the Company's Chief Executive Officer and Marie M. May, the
Company's Chief Financial Officer, as of a date within 45 days of the filing
date of this quarterly report, such officers have concluded that the Company's
disclosure controls and procedures are effective in ensuring that information
required to be disclosed by the Company in the reports that it files or submits
under the Securities and Exchange Act of 1934, as amended, is recorded,
processed, summarized and reported, within the time period specified by the
Securities and Exchange Commission's rules and forms.

 There were no significant changes in the Company's internal controls or in
other factors that could significantly affect these controls subsequent to the
date of their evaluation, including any corrective actions with regard to
significant deficiencies and material weaknesses.



PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

      The company was involved in a lawsuit with the sellers of Builders Realty
      (Calgary) Ltd. to reduce the purchase price paid for Builders Realty
      (Calgary) Ltd. The sellers of Builders Realty (Calgary) Ltd. had filed a
      counter lawsuit for breach of contract.

      In connection with the above lawsuit, the company filed a claim against
      the solicitors who were responsible for setting up the original
      transaction between the company and the sellers of Builders Realty
      (Calgary) Ltd.

      In addition to the above lawsuits, the sellers of Builders Realty
      (Calgary) Ltd., through another business entity, filed a lawsuit against
      Builders Realty (Calgary) Ltd. for unpaid rents and commissions and
      damages incurred at rental offices.

      On July 31, 2003, several realtors formerly employed by Builders Realty
      (Calgary) Ltd. filed a lawsuit against the company seeking payment of
      unpaid commissions. The Company is holding these commissions in a trust
      fund as required by a court order.

      On July 19, 2004, all of the above mentioned lawsuits were settled at no
      additional expense to the Company.

      The company was involved in a lawsuit with a franchisee of Red Carpet
      Keim, a wholly-owned subsidiary of the company. A claim in the amount of
      $124,800 was filed on September 13, 2002 as a result of the deterioration
      in value of the individual's stock value of HomeLife, Inc. Additionally,
      the company has filed a counter claim against the franchisee for
      non-payment of royalty and franchise fees.

      This lawsuit was settled on August 20, 2004 in the amount of $85,000. This
      amount was paid by the majority shareholder and has properly been
      reflected in the financial statements.


                                       10
<PAGE>

Item 2. Changes in Securities and use of proceeds.

      None.



Item 3. Defaults upon senior securities.

      None.

Item 4. Submission of matters to a vote of security holders.

      None.


Item 5. Other Information.

      None.


Item 6. Exhibits and Reports on Form 8-K.

      (a)   Exhibits:

            31    Certification Pursuant to Section 302 of the Sarbanes-Oxley
                  Act of 2002.

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



      (b)   Reports on Form 8-K:

            None.


                                       11
<PAGE>

                                   SIGNATURES

      In accordance with Section 13 or 15(d) of the Securities Exchange Act of
1934, as amended (the "Exchange Act") the Registrant caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

HOMELIFE, INC.
Registrant

By: /s/ Andrew Cimerman                                 Date: January  17, 2006
    --------------------------------------------             ------------------
    Chief Executive Officer, President, Director

      In accordance with the Exchange Act, this report has been signed below by
the following persons on behalf of the registrant and in the capacities and on
the dates indicated.


By: /s/ Andrew Cimerman                                 Date: January  17, 2006
    --------------------------------------------             ------------------
    Chief Executive Officer, President, Director







                                       12