**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 February 28,                2007 |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

**HOMELIFE,      INC.**

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

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

----

**HOMELIFE,      INC.**

**INDEX**

|                                                                                                                                  |                                 | **PAGE                  NO.** |
|---------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------|-------------------------------|
| **PART                  I - FINANCIAL INFORMATION**                                                                                   |                                 | 1.                            |
|                                                                                                                                  |                                 |                          |
| Item                  1. Financial Statements                                                                                         |                                 | 1.                            |
|                                                                                                                                  |                                 |                          |
| Consolidated                  Balance Sheet at February 28, 2007 (Unaudited)                                                          |                                 | 1.                            |
|                                                                                                                                  |                                 |                          |
| Consolidated                  Statements of Operations for the three months ended                                                     |                                 | 3.                            |
| February                  28, 2007 and 2006 (Unaudited)                                                                               |                                 |                          |
|                                                                                                                                  |                                 |                          |
| Consolidated                  Statements of Operations for the nine months ended                                                      |                                 | 4.                            |
| February                  28, 2007 and 2006 (Unaudited)                                                                               |                                 |                          |
|                                                                                                                                  |                                 |                          |
| Consolidated                  Statements of Cash Flows for the nine months ended                                                      |                                 | 5.                            |
| February                  28, 2007 and 2006 (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.                                                                   |                                 | 10.                           |
|                                                                                                                                  |                                 |                          |
| Item                  3. Defaults Upon Senior Securities.                                                                             |                                 | 10.                           |
|                                                                                                                                  |                                 |                          |
| 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. |

----

**PART      I - FINANCIAL INFORMATION**

**HOMELIFE,      INC. **

**Consolidated      Balance Sheet**

**At      February 28, 2007**

**(unaudited)**

| **ASSETS**                                            |   |   |    |
|-------------------------------------------------------|--------|--------|---------|
| Current                  Assets                       |   |   |    |
| Cash                                                  |   | $      | 47,371  |   |
| Marketable                  securities, at fair value |   |   | 900     |   |
| Accounts                  receivable, net             |   |   | 38,536  |   |
| Prepaid                  expenses and deposits        |   |   | 30,646  |   |
| Total                  Current Assets                 |   |   | 117,453 |   |
|                                                  |   |   |    |   |
| Property                  and Equipment, net          |   |   | 143     |   |
|                                                  |   |   |    |   |
| Other                  Assets                         |   |   |    |   |
| Goodwill                                              |   |   | 225,943 |   |
|                                                  |   |   |    |   |
| Other                  Intangible Assets, net         |   |   | 4,097   |   |
|                                                  |   |   |    |   |
|                                                  |   |   |    |   |
| Total                  Assets                         |   | $      | 347,636 |   |

----

**HOMELIFE,      INC. **

**Consolidated      Balance Sheet (Continued)**

**At      February 28, 2007**

**(unaudited)**

|                                                               |   |   |       |
|--------------------------------------------------------------------|--------|--------|------------|
| **LIABILITIES                  AND STOCKHOLDERS’ DEFICIT**   |   |   |       |
| Current                  Liabilities                               |   |   |       |
|                                                               |   |   |       |
| Bank                  indebtedness                                 |   | $      | 96,334     |   |
| Accounts                  payable                                  |   |   | 188,761    |   |
| Reserve                  for warranty                              |   |   | 37,501     |   |
| Deferred                  revenue                                  |   |   | 26,321     |   |
| Total                  Current Liabilities                         |   |   | 348,917    |   |
|                                                               |   |   |       |   |
| Other                  Liabilities                                 |   |   |       |   |
|                                                               |   |   |       |   |
| Due                  to Stockholder                                |   |   | 223,062    |   |
|                                                               |   |   |       |   |
| Total                  Liabilities                                 |   |   | 571,979    |   |
|                                                               |   |   |       |   |
| Minority                  Interest                                 |   |   | 20,843     |   |
|                                                               |   |   |       |   |
| Stockholders’                  Deficit                       |   |   |       |   |
|                                                               |   |   |       |   |
| Capital                  Stock                                     |   |   | 1,037,372  |   |
|                                                               |   |   |       |   |
| Additional                  Paid in Capital                        |   |   | 3,731,741  |   |
|                                                               |   |   |       |   |
| Accumulated                  Other Comprehensive Loss              |   |   | (1,747     | ) |
|                                                               |   |   |       |   |
| Accumulated                  Deficit                               |   |   | (5,012,552 | ) |
|                                                               |   |   |       |   |
| Total                  Stockholders’ Deficit                 |   |   | (245,186   | ) |
|                                                               |   |   |       |   |
| Total                  Liabilities and Stockholders’ Deficit |   | $      | 347,636    |   |

----

**HOMELIFE,      INC. **

**Consolidated      Statements of Operations**

**Three      months ended February 28, 2007**
**and      2006**

**(unaudited)**

|                                                                                    |   | 2007   |       | 2006   |   |
|-----------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|
| **REVENUE**                                                                             |   |   |       |   |   |
|                                                                                    |   |   |       |   |   |
| Royalty                  and franchise fees                                             |   | $      | 84,962     |   | $      | 105,265 |   |
| Warranty                  fees                                                          |   |   | 17,504     |   |   | 5,396 |   |
| Other                  income                                                           |   |   | 17,049     |   |   | 17,436 |   |
| Total                  Revenue                                                          |   |   | 119,515    |   |   | 128,097 |   |
|                                                                                    |   |   |       |   |   |   |   |
| **DIRECT                  COSTS**                                                       |   |   | 3,702      |   |   | 21,069 |   |
|                                                                                    |   |   |       |   |   |   |   |
| **GROSS                  PROFIT**                                                       |   |   | 115,813    |   |   | 107,028 |   |
|                                                                                    |   |   |       |   |   |   |   |
| **EXPENSES**                                                                            |   |   |       |   |   |   |   |
|                                                                                    |   |   |       |   |   |   |   |
| Salaries                  and fringe benefits                                           |   |   | 46,248     |   |   | 44,696 |   |
| General                  and administrative                                             |   |   | 48,553     |   |   | 59,752 |   |
| Occupancy                                                                               |   |   | 8,625      |   |   | 11,925 |   |
| Financial                                                                               |   |   | 6,147      |   |   | 6,503 |   |
| Depreciation                                                                            |   |   | -          |   |   | 15,000 |   |
| Amortization                                                                            |   |   | 12,963     |   |   | 12,963 |   |
|                                                                                    |   |   |       |   |   |   |   |
| Total                  Expenses                                                         |   |   | 122,536    |   |   | 150,839 |   |
|                                                                                    |   |   |       |   |   |   |   |
|                                                                                    |   |   |       |   |   |   |   |
| **NET                  LOSS**                                                           |   |   | (6,723     | )      |   | (43,811 | ) |
|                                                                                    |   |   |       |   |   |   |   |
|                                                                                    |   |   |       |   |   |   |   |
| **BASIC                  AND FULLY DILUTED LOSS **PER                  COMMON SHARE**** |   | $      | (0.00      | )      | $      | (0.00 | ) |
|                                                                                    |   |   |       |   |   |   |   |
| **WEIGHTED-AVERAGE                  NUMBER OF **COMMON                  SHARES****      |   |   | 12,371,886 |   |   | 12,371,886 |   |

----

**HOMELIFE,      INC. **

**Consolidated      Statements of Operations**

**Nine      months ended February 28, 2007**
**and      2006**

**(unaudited)**

|                                                                                    |   | 2007   |       | 2006   |   |
|-----------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|
| **REVENUE**                                                                             |   |   |       |   |   |
|                                                                                    |   |   |       |   |   |
| Royalty                  and franchise fees                                             |   | $      | 261,493    |   | $      | 350,217 |   |
| Warranty                  fees                                                          |   |   | 60,354     |   |   | 68,648 |   |
| Other                  income                                                           |   |   | 25,784     |   |   | 70,096 |   |
| Total                  Revenue                                                          |   |   | 347,631    |   |   | 488,961 |   |
|                                                                                    |   |   |       |   |   |   |   |
| **DIRECT                  COSTS**                                                       |   |   | 24,256     |   |   | 118,604 |   |
|                                                                                    |   |   |       |   |   |   |   |
| **GROSS                  PROFIT**                                                       |   |   | 323,375    |   |   | 370,357 |   |
|                                                                                    |   |   |       |   |   |   |   |
| **EXPENSES**                                                                            |   |   |       |   |   |   |   |
|                                                                                    |   |   |       |   |   |   |   |
| Salaries                  and fringe benefits                                           |   |   | 138,369    |   |   | 159,437 |   |
| General                  and administrative                                             |   |   | 178,502    |   |   | 216,582 |   |
| Occupancy                                                                               |   |   | 34,195     |   |   | 35,016 |   |
| Financial                                                                               |   |   | 17,065     |   |   | 14,297 |   |
| Depreciation                                                                            |   |   | 1,865      |   |   | 45,000 |   |
| Amortization                                                                            |   |   | 38,887     |   |   | 38,889 |   |
|                                                                                    |   |   |       |   |   |   |   |
| Total                  Expenses                                                         |   |   | 408,883    |   |   | 509,221 |   |
|                                                                                    |   |   |       |   |   |   |   |
|                                                                                    |   |   |       |   |   |   |   |
| **NET                  LOSS**                                                           |   |   | (85,508    | )      |   | (138,864 | ) |
|                                                                                    |   |   |       |   |   |   |   |
|                                                                                    |   |   |       |   |   |   |   |
| **BASIC                  AND FULLY DILUTED LOSS **PER                  COMMON SHARE**** |   | $      | (0.01      | )      | $      | (0.01 | ) |
|                                                                                    |   |   |       |   |   |   |   |
| **WEIGHTED-AVERAGE                  NUMBER OF **COMMON                  SHARES****      |   |   | 12,371,886 |   |   | 12,371,886 |   |

----

**HOMELIFE,      INC. **

**Consolidated      Statements of Cash Flows**

**Nine      months ended February 28, 2007**
**and      2006**

**(unaudited)**

|                                                                                                      |   | 2007   |    | 2006   |   |
|-----------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|
|                                                                                                      |   |   |    |   |   |
| CASH                  FLOWS FROM OPERATING ACTIVITIES                                                     |   |   |    |   |   |
| Net                  loss                                                                                 |   | $      | (85,508 | )      | $      | (138,864 | ) |
| Adjustments                  to reconcile net loss to net cash from operating                  activities |   |   |    |   |   |   |   |
| Depreciation                                                                                              |   |   | 1,865   |   |   | 45,000 |   |
| Amortization                                                                                              |   |   | 38,887  |   |   | 38,889 |   |
| Changes                  in assets and liabilities                                                        |   |   |    |   |   |   |   |
| Accounts                  receivable                                                                      |   |   | (28,500 | )      |   | 7,471 |   |
| Prepaid                  expenses and deposits                                                            |   |   | 501     |   |   | (360 | ) |
| Accounts                  payable                                                                         |   |   | 22,871  |   |   | 24,200 |   |
| Reserve                  for warranty                                                                     |   |   | (9,452  | )      |   | (10,000 | ) |
| Deferred                  revenue                                                                         |   |   | (13,959 | )      |   | 10,202 |   |
|                                                                                                      |   |   |    |   |   |   |   |
| Net                  Cash Flows from Operating Activities                                                 |   |   | (73,295 | )      |   | (23,462 | ) |
|                                                                                                      |   |   |    |   |   |   |   |
| CASH                  FLOWS FROM INVESTING ACTIVITIES                                                     |   |   | -       |   |   | - |   |
|                                                                                                      |   |   |    |   |   |   |   |
| CASH                  FLOWS FROM FINANCING ACTIVITIES                                                     |   |   |    |   |   |   |   |
| Advances                  from lines of credit, net                                                       |   |   | 23,700  |   |   | 748 |   |
| Due                  to stockholder                                                                       |   |   | 52,353  |   |   | 33,148 |   |
| Repayments                  on note payable                                                               |   |   | (8,763  | )      |   | (2,918 | ) |
| Net                  Cash Flows from Financing Activities                                                 |   |   | 67,290  |   |   | 30,978 |   |
|                                                                                                      |   |   |    |   |   |   |   |
| NET                  CHANGE IN CASH                                                                       |   |   | (6,005  | )      |   | 7,516 |   |
| Cash,                  beginning of period                                                                |   |   | 53,376  |   |   | 75,360 |   |
|                                                                                                      |   |   |    |   |   |   |   |
| CASH,                  END OF PERIOD                                                                      |   | $      | 47,371  |   | $      | 82,876 |   |
|                                                                                                      |   |   |    |   |   |   |   |
| SUPPLEMENTAL                  DISCLOSURE OF CASH                                                          |   |   |    |   |   |   |   |
| FLOW                  INFORMATION                                                                         |   |   |    |   |   |   |   |
| Interest                  paid                                                                            |   | $      | 4,429   |   | $      | 3,872 |   |
|                                                                                                      |   |   |    |   |   |   |   |
| Income                  taxes paid                                                                        |   | $      | -       |   | $      | - |   |

----

**HOMELIFE,      INC. **

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**Note      1.   **
**MANAGEMENT’S      PLAN AND FUTURE OPERATIONS**

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

|   |   |
|--------|--------|

| -   | investigating                and pursuing potential                mergers/acquisitions, |
|---------------|------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

| -   | the                core business of franchising                nationwide |
|---------------|---------------------------------------------------------------------------|

|   |   |
|--------|--------|

| -   | making                efforts to reduce unnecessary operating expenses on a monthly                basis |
|---------------|----------------------------------------------------------------------------------------------------------|

**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** |
|--------|-----------------------|

----

**Note      3.    **
**LETTER      OF INTENT**

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

----

**Three      Months Ended February 28, 2007 (unaudited) compared to the Three Months Ended      November 30, 2005 (unaudited).**

**Revenues**

|                                          |   | February                  28, 2007 |    | February                  28, 2006 |   |
|-----------------------------------------------|--------|------------------------------------|---------|------------------------------------|--------|
|                                          |   | Amount                             |    | %                                  |   | Amount |   |  % |   |
| Royalty                  & franchise fees |   | $                                  | 84,962  |                               |   | 71 |   | $ | 105,265 |   |   | 82 |   |
| Home                  warranty sales          |   |                               | 17,504  |                               |   | 15 |   |   | 5,396 |   |   | 4 |   |
| Other                                         |   |                               | 17,049  |                               |   | 14 |   |   | 17,436 |   |   | 14 |   |
| TOTAL                                         |   | $                                  | 119,515 |                               |   | 100 |   | $ | 128,097 |   |   | 100 |   |

**Direct      Costs.**

**Salaries      and fringe benefits.**

**General      and administrative.**

**Occupancy.**

**Financial.**

**Depreciation.**

**Amortization.**

**Nine      Months Ended February 28, 2007 (unaudited) compared to the Nine Months Ended      February 28, 2006 (unaudited).**

**Revenues**

|                                        |   | February                28, 2007 |    | February                28, 2006 |   |
|---------------------------------------------|--------|----------------------------------|---------|----------------------------------|--------|
|                                        |   | Amount                           |    | %                                |   | Amount |   | % |   |
| Royalty                & franchise fees |   | $                                | 261,493 |                             |   | 75 |   | $ | 350,217 |   |   | 72 |   |
| Home                warranty sales          |   |                             | 60,354  |                             |   | 17 |   |   | 68,648 |   |   | 14 |   |
| Other                                       |   |                             | 25,784  |                             |   | 8 |   |   | 70,096 |   |   | 14 |   |
| TOTAL                                       |   | $                                | 347,631 |                             |   | 100 |   | $ | 488,961 |   |   | 100 |   |

----

**Direct      Costs.**

**Salaries      and fringe benefits.**

**General      and administrative.**

**Occupancy.**

**Financial.**

**Depreciation.**

**Amortization.**

**Liquidity      and capital resources.**

**Application      of Critical Accounting Policies**

----

**Item      3. Controls and Procedures**

**PART      II - OTHER INFORMATION**

**Item      1.   Legal      Proceedings**

**Item      2.   **
**Changes      in Securities and use of proceeds.**

**Item      3.   **
**Defaults      upon senior securities**

----

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

**Item      5.   **
**Other      Information.**

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

|  | 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. |
|--|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**SIGNATURES**

|                     |                                                                                                |                                               |         |
|--------------------------|-----------------------------------------------------------------------------------------------------|----------------------------------------------------|--------------|
| HOMELIFE, INC.Registrant |                                                                                                |
|                     |                                                                                           |                                          |    |
|                     |                                                                                                |                                          |              |
|  By:           | /s/ Andrew                Cimerman Chief                Executive Officer, President, Director | Date:  April              2, 2007   |
|                     |                                                                                                |                                               |

|            |                                                                                                                     |                                                 |   |
|-----------------|--------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------|--------|
|            |                                                                                                                          |                                                 |
|            |                                                                                                                     |                                            |        |
| By:   | /s/ Andrew                  Cimerman                  Chief                  Executive Officer, President, Director | Date:  April                2, 2007   |
|            |                                                                                                                     |                                                 |

----