UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 FORM 10-Q
 
 (Mark One)
 
 x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended: March 31, 2011
 
  ̈ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from _________ to __________
 
 Commission file number: 000-22281
 
 24Holdings Inc.
 (Exact name of registrant as specified in its charter)
 
 Delaware
33-0726608(State or other jurisdiction of
(IRS Employerincorporation or organization)
Identification No.)
 
 133 Summit Avenue Suite 22
 Summit, NJ 07901
 (Address of principal executive offices)
 
 973-635-4047
 (Issuer's telephone number)
 
 (Former name, former address and former fiscal year,
 if changed since last report)
 
 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
 YesxNo ̈
 Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
 Yes ̈No ̈
 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
 Large Accelerated filer  ̈
Accelerated filer   ̈Non-accelerated filer   ̈
Smaller reporting company x
 
 Indicate by check mark whether the issuer is a shell company (as defined in Rule 12b-2 of the Exchange Act).
 YesxNo ̈
 Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: There were a total of 1,244,902 shares of the issuer’s common stock, par value $.001 per share, outstanding as of May 9, 2011.
  
  24HOLDINGS INC.
 Quarterly Report on Form 10-Q
 For the Period Ended March 31, 2011
 
 TABLE OF CONTENTS
 
 PagePART I. FINANCIAL INFORMATIONITEM 1. FINANCIAL STATEMENTS
3Balance Sheets as of March 31, 2011 (unaudited) and December 31, 2010
3Statements of Operations for the Three Months Ended March 31, 2011 and 2010 (unaudited)
4Statements of Cash Flows for the Three Months Ended March 31, 2011 and 2010 (unaudited)
5NOTES TO FINANCIAL STATEMENTS (unaudited)
6ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
10ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
12ITEM 4. CONTROLS AND PROCEDURES
12PART II.  OTHER INFORMATIONITEM 6.  EXHIBITS
12SIGNATURES
13
 
 FORWARD-LOOKING STATEMENTS
 
 Certain statements made in this Quarterly Report on Form 10-Q are “forward-looking statements” regarding the plans and objectives of management for future operations and market trends and expectations.  Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties.  Our plans and objectives are based, in part, on assumptions involving the continued expansion of our business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control.  Although we believe that our assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this report will prove to be accurate.  In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved.  We undertake no obligation to revise or update publicly any forward-looking statements for any reason.  The terms “we”, “our”, “us”, or any derivative thereof, as used herein refer to 24Holdings Inc., a Delaware corporation, and its predecessors.
  2
 
 PART I. – FINANCIAL INFORMATION
 
 ITEM 1. FINANCIAL STATEMENTS:
 
 24HOLDINGS INC.
 BALANCE SHEETS
 
 March 31, 2011


December 31,(unaudited)


2010ASSETSCurrent AssetsCash and cash equivalents

$
31,116


$
13,400TOTAL CURRENT ASSETS


31,116



13,400TOTAL ASSETS

$
31,116


$
13,400LIABILITIES AND STOCKHOLDERS' EQUITY(DEFICIT)Current LiabilitiesAccrued expenses

$
24,741


$
17,741TOTAL CURRENT LIABILITIES


24,741



17,741TOTAL LIABILITIES


24,741



17,741STOCKHOLDERS' EQUITY (DEFICIT):Preferred stock; $0.001 par value, 5,000,000 shares authorized, none issued and outstanding


-



-Common stock, $.001 par value; 100,000,000 shares authorized, 1,244,902 shares issued and outstanding


1,245



1,245Additional Paid-in Capital


10,798,384



10,780,384Accumulated Deficit


(10,793,254
)


(10,785,970
)Total stockholders' equity (deficit)


6,375



(4,341
)TOTAL LIABILITIES AND  STOCKHOLDERS' EQUITY (DEFICIT)

$
31,116


$
13,400
 
 The accompanying notes are an integral part of these unaudited financial statements.
  3
  24HOLDINGS INC.
 STATEMENTS OF OPERATIONS
 (unaudited)
 
 Three Months EndedMarch 31,2011


2010Revenues

$
-


$
-ExpensesGeneral and administrative


7,284



7,250Total operating expenses


7,284



7,250Net Loss

$
(7,284
)

$
(7,250
)Weighted average number of common shares outstanding


1,244,902



1,244,902Net loss per share - basic and fully diluted

$
(0.01
)

$
(0.01
)
  The accompanying notes are an integral part of these unaudited financial statements.
  4
  24HOLDINGS INC.
 STATEMENTS OF CASH FLOWS
 (unaudited)
 
 Three Months EndedMarch 31,2011


2010CASH FLOWS FROM OPERATING ACTIVITIESNet loss

$
(7,284
)

$
(7,250
)Changes in operating assets and liabilities increase in accrued expenses


7,000



4,250NET CASH USED IN OPERATING ACTIVITIES


(284
)


(3,000
)CASH FLOWS FROM FINANCING ACTIVITIESContributed capital


18,000



-NET CASH PROVIDED BY FINANCING ACTIVITIES


18,000



-NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS


17,716



(3,000
)CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD


13,400



22,030CASH AND CASH EQUIVALENTS AT END OF PERIOD

$
31,116


$
19,030SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATIONInterest paid

$
-


$
-Income taxes paid

$
-


$
-
 
 The accompanying notes are an integral part of these unaudited financial statements.
  5
  24HOLDINGS INC.
 NOTES TO FINANCIAL STATEMENTS
 March 31, 2011
 (unaudited)
 
 NOTE 1 - DESCRIPTION OF COMPANY:
 
 We are a Delaware corporation formerly known as Scoop, Inc.  In April 2001, Scoop, Inc. amended its Certificate of Incorporation to change its name to 24Holdings Inc. (“we”, “our”, “us” or “24Holdings”). Prior to September 30, 2005, 24Holdings was a holding company that conducted its business operations through its wholly owned subsidiary 24STORE (Europe) Limited, a company incorporated under the laws of England formerly known as 24STORE.com Limited ("24STORE").  24STORE commenced business operations in 1996 and focused on the sale of media products and business information services.  Commencing in July 1998, we underwent voluntary reorganization under Chapter 11 of the United States Bankruptcy Code.  In accordance with the Plan of Reorganization approved by the Bankruptcy Court in December 1999, InfiniCom, AB, a Swedish registered company (“Infinicom”), acquired 91% of our outstanding stock in exchange for 100% of the stock of 24STORE.  Subsequent to Infinicom’s acquisition in 1999 and until September 30, 2005, the business operations of 24STORE, which represented all of our operations, were devoted to supplying business customers with computer and electronics products.
 
 On October 23, 2006 (the “Effective Date”), we implemented a 1 for 125 reverse stock split (the “Reverse Split”) of our common stock par value $0.001 per share (the “Common Stock”).  Pursuant to the Reverse Split, each 125 shares of Common Stock issued and outstanding as of the Effective Date was converted into one (1) share of Common Stock.  The Reverse Split also reduced the number of shares of Common Stock into which each share of Series A Convertible Preferred Stock, par value $.001 per share (the “Preferred Stock”) could be converted from 100 shares to 0.8 shares.  All per share data herein has been retroactively restated to reflect the Reverse Split.
 
 The interim financial information as of March 31, 2011 and for the three month periods ended March 31, 2011 and 2010 have been prepared without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”).  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures made are adequate to provide for fair presentation.  These financial statements should be read in conjunction with the financial statements and the notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2010, previously filed with the SEC.
 
 In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of our financial position as of March 31, 2011, results of operations for the three months ended March 31, 2011 and 2010, and cash flows for the three months ended March 31, 2011 and 2010, have been made. The results of operations for the three months ended March 31, 2011 are not necessarily indicative of the operating results that may be expected for the full fiscal year or any future periods.
 
 CHANGE OF OWNERSHIP TRANSACTIONS
 
 On May 26, 2005, we entered into a series of agreements with Infinicom in connection with our sale of all of the outstanding stock of 24STORE (the “24STORE Sale”) and separately, the assignment of all rights and title to certain trademarks and domain names (the “IP Assets”) that we held (the “IP Assignment”).  Pursuant to the terms of the 24STORE Sale, Infinicom paid us $100,000 for our 24STORE shares and pursuant to the IP Assignment, we paid for the IP Assets through a set-off against all outstanding and contingent liabilities we owed to Infinicom determined as of the closing date of the 24STORE Sale, which amounted to $603,830.
 
 On May 26, 2005, we also entered into a Preferred Stock Purchase Agreement with Infinicom (the “Preferred Stock Agreement”) pursuant to which we sold to Infinicom 344,595 shares of our Preferred Stock in exchange for the discharge of $230,879 of outstanding debt owed to Infinicom.  Each share of the Preferred Stock is convertible into 0.8 shares of our Common Stock at the holder’s option.
 
 On May 26, 2005, Infinicom, 24Holdings, Moyo Partners, LLC (“Moyo”) and R&R Biotech Partners, LLC (“R&R”, and together with Moyo, the “Purchasers”) entered into a Common Stock Purchase Agreement (the “Infinicom Sale Agreement”) pursuant to which, Infinicom agreed to sell to the Purchasers an aggregate of 873,369 shares of Common Stock (which included shares issuable upon conversion of the Preferred Stock) which represented approximately 83.6% of the then issued and outstanding shares of Common Stock (the “Infinicom Sale”).  In return, the Purchasers (i) paid to Infinicom $500,000 in cash, and (ii) agreed that upon the occurrence of one of several post-closing events, including a merger with one or more as yet unidentified private unaffiliated operating companies, to cause 24Holdings to issue to Infinicom shares of Common Stock representing 1% of the then issued and outstanding shares of Common Stock on a fully diluted basis (the “Infinicom Additional Shares”).  The consummation of the Infinicom Sale was contingent on the contemporaneous closing of the 24STORE Sale and the IP Assignment.
  6
  24HOLDINGS INC.
 NOTES TO FINANCIAL STATEMENTS
 March 31, 2011
 (unaudited)
 NOTE 1 - DESCRIPTION OF COMPANY (continued):
  On September 30, 2005, 24Holdings and Infinicom completed the transactions contemplated in the 24STORE Sale, the IP Assignment and the Preferred Stock Agreement as described above.  Infinicom forgave the $603,830 of debt 24Holdings owed to them in consideration of the IP Assignment.
 
 Effective September 30, 2005, Infinicom completed the sale to the Purchasers, under the Infinicom Sale Agreement, of 597,693 shares of Common Stock (which represented 77.7% of the 769,226 shares of Common Stock then issued and outstanding) and 344,595 shares of Preferred Stock, constituting 83.6% in the aggregate of the then issued and outstanding Common Stock (assuming the conversion of the Preferred Stock into 275,676 shares of Common Stock).  As a result, the Purchasers acquired control of 24Holdings from Infinicom, with R&R beneficially owning 698,696 shares of Common Stock (assuming the conversion by R&R of 275,676 shares of Preferred Stock into 220,541 shares of Common Stock) constituting 66.9% of the then issued and outstanding shares of Common Stock, and Moyo in the aggregate beneficially owning 174,674 shares of Common Stock (assuming the conversion by Moyo of 68,919 shares of Preferred Stock into 55,135 shares of Common Stock) constituting 16.7% of the then issued and outstanding shares of Common Stock.
 
 Effective September 30, 2005 Urban von Euler resigned as our president and a director but remained our chief executive officer.  Also, effective September 30, 2005, Larsake Sandin resigned as a director and each of Arnold P. Kling and Kirk M. Warshaw were appointed as directors of 24Holdings.  On November 21, 2005, effective with the filing of our Form 10-Q for the quarter ended September 30, 2005, Mr. von Euler resigned as chief executive officer and Mr. Kling was appointed president and treasurer and Mr. Warshaw was appointed chief financial officer and secretary.  As of that same date, 24Holdings relocated its headquarters to Chatham, New Jersey.
 
 On November 25, 2005, the Infinicom Sale Agreement was amended to provide, among other criteria, that the fair market value of the Infinicom Additional Shares would be no less than $400,000 nor more than $600,000 at the time such shares are required to be issued to Infinicom.
 
 On February 1, 2006, a total of 250,000 shares of Preferred Stock were authorized for issuance to two individuals who provided services to us.  On May 12, 2006, we issued 150,000 and 100,000 shares, respectively, of Preferred Stock to Arnold P. Kling and Kirk M. Warshaw for their services as our president and chief financial officer, respectively.  Each share of Preferred Stock is immediately convertible, at the holder's option, into 0.8 shares of Common Stock.  Mr. Kling's services were valued at $11,250 and Mr. Warshaw's services were valued at $7,500.
 
 On November 29, 2006, the holders of all the issued and outstanding shares of Preferred Stock elected to convert all of their Preferred Stock into shares of Common Stock.  As a result, the 594,595 shares of Preferred Stock outstanding were exchanged for 475,676 shares of Common Stock.
 
 As of March 31, 2011, our authorized capital stock consists of 100,000,000 shares of Common Stock and 5,000,000 shares of Preferred Stock of which 1,244,902 shares of Common Stock, and no shares of Preferred Stock, are issued and outstanding.  All shares of Common Stock currently outstanding are validly issued, fully paid and non-assessable.
 
 THE COMPANY TODAY
 
 Since September 30, 2005, our purpose has been to serve as a vehicle to acquire an operating business and is currently considered a "shell" or blank check company inasmuch as we are not generating revenues, do not own an operating business, and have no specific plan other than to engage in a merger or acquisition transaction with a yet-to-be identified company or business.  We have no employees and no material assets.
  7
  24HOLDINGS INC.
 NOTES TO FINANCIAL STATEMENTS
 March 31, 2011
 (unaudited)
 
 NOTE 2 – BASIS OF PRESENTATION
 
 The condensed financial statements have been prepared by us, without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed financial statements include all adjustments (consisting of normal, recurring adjustments) necessary to make our, results of operations and cash flows not misleading as of March 31, 2011.  The results of operations for the three months ended March 31, 2011 are not necessarily indicative of the results of operations for the full year or any other interim period.  These financial statements should be read in conjunction with the financial statements and the notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2010, previously filed with the SEC.
 
 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
 Use of Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period.  Actual results could differ from those estimates.
 
 Fair Value of Financial Instruments - Pursuant to the accounting guidance,   "Disclosures About Fair Value of Financial Instruments," we are required to estimate the fair value of all financial instruments included on our balance sheet as of March 31, 2011. We consider the carrying value of accrued expenses in the financial statements to approximate their face value.
 
 Statements of Cash Flows - For purposes of the statements of cash flows we consider all highly liquid investments purchased with a remaining maturity of three months or less to be cash equivalents.
 
 NOTE 4 – STOCKHOLDERS’ EQUITY
 
 On February 1, 2006, a total of 250,000 shares of Preferred Stock were authorized for issuance to two individuals who provided services to us.  On May 12, 2006, we filed a Certificate of Amendment to the Certificate of Designation for the Preferred Stock with the Secretary of State of the State of Delaware, increasing the number of shares designated as Preferred Stock from 500,000 to 600,000 shares.  As a result of this filing, we issued 150,000 and 100,000 shares of the Preferred Stock to Arnold Kling and Kirk Warshaw for their services as our president and chief financial officer, respectively.  Each share of Preferred Stock is convertible, at the holder's option, into 100 shares of Common Stock.  Mr. Kling's services were valued at $11,250 and Mr. Warshaw's services were valued at $7,500.
 
 On October 23, 2006, we effected a reverse stock split of our Common Stock.  Pursuant to this reverse stock split, each 125 shares of Common Stock issued and outstanding as of the date following the reverse stock split was converted into one (1) share of Common Stock.  This reverse stock split reduced the number of shares of Common Stock into which each share of Preferred Stock could be converted from 100 shares to .8 shares.  All per share data has been retroactively restated to reflect this reverse stock split.
 
 On November 29, 2006, the holders of all the issued and outstanding shares of Preferred Stock elected to convert all of their Preferred Stock into shares of Common Stock.  As a result, the 594,595 shares of Preferred Stock outstanding were exchanged for 475,676 shares of Common Stock.
 
 As of March 31, 2011, our authorized capital stock consists of 100,000,000 shares of Common Stock and 5,000,000 shares of Preferred Stock, of which 1,244,902 shares of Common Stock, and no shares of Preferred Stock, are issued and outstanding.  All shares of Common Stock currently outstanding are validly issued, fully paid and non-assessable.
 
 During the three months ended March 31, 2011, a stockholder contributed an additional $18,000 to the Company.  During 2010, the same stockholder contributed an additional $27,000 to the Company.
  8
  24HOLDINGS INC.
 NOTES TO FINANCIAL STATEMENTS
 March 31, 2011
 (unaudited)
 
 NOTE 5 – NEW ACCOUNTING PRONOUNCEMENTS
 
 Management does not believe that any new accounting pronouncements not yet effective will have a material impact on the Company’s financial statements once adopted.
 
 NOTE 6 – COMMITMENTS AND CONTIGENCIES
 
 On January 29, 2009, the Company entered into an agreement with Kirk M. Warshaw, LLC (the “LLC”) for the use and occupancy, and administrative services, related to its principal offices.  The agreement provides for quarterly payments from the Company to the LLC of $500.   The effective date of the agreement was January 1, 2009.
 
 NOTE 7 – SUBSEQUENT EVENTS
 
 The Company has evaluated subsequent events and has determined that there were no subsequent events to recognize or disclose in these financial statements.
  9
  ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 
 Plan of Operation
 
 Since September 30, 2005 our purpose is to effect a business combination with an operating business which we believe has significant growth potential.  We are currently considered to be a “shell” company in as much as we have no operations, revenues or employees.  We have no definitive agreements or understandings with any prospective business combination candidates and there are no assurances that we will find a suitable business with which to combine. The implementation of our business objectives is wholly contingent upon a business combination and/or the successful sale of securities in 24Holdings. We intend to utilize the proceeds of any offering, any sales of equity securities or debt securities, bank and other borrowings or a combination of those sources to effect a business combination with a target business which we believe has significant growth potential. While we may, under certain circumstances, seek to effect business combinations with more than one target business, unless and until additional financing is obtained, we will not have sufficient proceeds remaining after an initial business combination to undertake additional business combinations.
 
 A common reason for a target company to enter into a merger with a shell company is the desire to establish a public trading market for its shares. Such a company would hope to avoid the perceived adverse consequences of undertaking a public offering itself, such as the time delays and significant expenses incurred to comply with the various Federal and state securities law that regulate initial public offerings.
 
 As a result of our limited resources, we expect to have sufficient proceeds to effect only a single business combination. Accordingly, the prospects for our success will be entirely dependent upon the future performance of a single business. Unlike certain entities that have the resources to consummate several business combinations or entities operating in multiple industries or multiple segments of a single industry, we will not have the resources to diversify our operations or benefit from the possible spreading of risks or offsetting of losses. A target business may be dependent upon the development or market acceptance of a single or limited number of products, processes or services, in which case there will be an even higher risk that the target business will not prove to be commercially viable.
 
 Our officers are only required to devote a small portion of their time (less than 10%) to our affairs on a part-time or as-needed basis. We expect to use outside consultants, advisors, attorneys and accountants as necessary. We do not anticipate hiring any full-time employees so long as we are seeking and evaluating business opportunities.
 
 We expect our present management to play no managerial role in 24Holdings following a business combination. Although we intend to scrutinize closely the management of a prospective target business in connection with our evaluation of a business combination with a target business, our assessment of management may be incorrect. We cannot assure you that we will find a suitable business with which to combine.
 
 RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2011 COMPARED TO THE THREE MONTHS ENDED MARCH 31, 2010
 
 We currently do not have any business operations and did not have any revenues during the three month periods ended March 31, 2011 and 2010.
 
 Total general and administrative expenses for the three month periods ended March 31, 2011 and 2010 were $7,284 and $7,250, respectively.  These expenses are primarily constituted by professional and filing fees.
 
 Liquidity and Capital Resources
 
 At March 31, 2011, 24Holdings did not have any revenues from operations.  Absent a merger or other combination with an operating company, 24Holdings does not expect to have any revenues from operations.  No assurance can be given that such a merger or other combination will occur or that 24Holdings can engage in any public or private sales of its equity or debt securities to raise working capital.  24Holdings is dependent upon future loans or capital contributions from its present stockholders and/or management and there can be no assurances that its present stockholders or management will make any loans or capital contributions to 24Holdings.  At March 31, 2011, 24Holdings had cash of $31,116 and working capital of $6,375.
 
 24Holdings's present material commitments are professional and administrative fees and expenses associated with the preparation of its filings with the SEC and other regulatory requirements.  In the event that 24Holdings engages in any merger or other combination with an operating company, it will have additional material professional commitments.
  10
  Critical Accounting Policies
 
 Our unaudited financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which require management to make estimates and assumptions that affect the amounts reported in such financial statements and related notes.  Actual results can and will differ from estimates. These differences could be material to the financial statements.  We believe our application of accounting policies and the estimates required therein are reasonable.  Outlined below are those policies considered particularly significant.
 
 Use of Estimates
 
 In preparing financial statements in accordance with GAAP, management makes certain estimates and assumptions, where applicable, that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. While actual results could differ from those estimates, management does not expect such variances, if any, to have a material effect on the financial statements.
 
 Statements of Cash Flows
 
 For purposes of the statements of cash flows we consider all highly liquid investments purchased with a remaining maturity of three months or less to be cash equivalents.
 
 Earnings (Loss) Per Share
 
 Basic earnings (loss) per share has been computed on the basis of the weighted average number of common shares outstanding during each period presented according to the Financial Accounting Standards Board’s (FASB) guidance for "EARNINGS PER SHARE".  Diluted earnings (loss) per share reflects the potential dilution that could occur if options or other contracts to issue shares of common stock were exercised or converted to common stock as long as the effect of their inclusion is not anti-dilutive.  We currently have no options or contracts to issue shares of common stock outstanding.
 
 Income Taxes
 
 The asset and liability method is used in accounting for income taxes.  Under this method, deferred tax assets and liabilities are recognized for operating loss and tax credit carry forwards and for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date.  A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized.
 
 Financial Instruments
 
 The estimated fair values of all reported assets and liabilities which represent financial instruments, none of which are held for trading purposes, approximate their carrying value because of the short term maturity of these instruments or the stated interest rates are indicative of market interest rates.
 
 Equity Based Compensation
 
 The accounting guidance for “Share Based Payments” requires the recognition of the fair value of employee stock options and similar awards and applies to all outstanding and vested stock-based awards.  In computing the impact, the fair value of each option is estimated on the date of grant based on the Black-Scholes options-pricing model utilizing certain assumptions for a risk free interest rate; volatility; and expected remaining lives of the awards. The assumptions used in calculating the fair value of share-based payment awards represent management’s best estimates, but these estimates involve inherent uncertainties and the application of management judgment. As a result, if factors change and we use different assumptions, our stock-based compensation expense could be materially different in the future. In addition, we are required to estimate the expected forfeiture rate and only recognize expense for those shares expected to vest.  In estimating our forfeiture rate, we analyzed its historical forfeiture rate, the remaining lives of unvested options, and the amount of vested options as a percentage of total options outstanding.  If our actual forfeiture rate is materially different from its estimate, or if we reevaluate the forfeiture rate in the future, the stock-based compensation expense could be significantly different from what we have recorded in the current period.  The last equity based compensation issued by us was more than two years ago and such shares were fully vested upon issuance, hence an expense was recorded at that time.
  11
  New Accounting Pronouncements
 
 All new accounting pronouncements issued but not yet effective have been reviewed and determined to be not applicable.  As a result, the adoption of such new accounting pronouncements, when effective, is not expected to have a material impact on our financial position.
 
 Off-Balance Sheet Arrangements
 
 As of March 31, 2011, we have no off-balance sheet arrangements such as guarantees, retained or contingent interest in assets transferred, obligation under a derivative instrument and obligation arising out of or a variable interest in an unconsolidated entity.
  ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
 
 As a smaller reporting company we are not required to provide the information required by this Item.
 
 ITEM 4.  CONTROLS AND PROCEDURES.
 
 (a)   Evaluation of Disclosure Controls and Procedures
 Our management, with the participation of both of our president and chief financial officer, carried out an evaluation of the effectiveness of our “disclosure controls and procedures” (as defined in the Securities Exchange Act of 1934 (the “Exchange Act”) Rules 13a-15(e) and 15-d-15(e)) as of the end of the period covered by this report (the “Evaluation Date”).  Based upon that evaluation, both of our president and chief financial officer concluded that as of the Evaluation Date, our disclosure controls and procedures are effectiveto ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to our management, including ourpresidentand our chief financial officer, as appropriate to allow timely decisions regarding required disclosure.
 
 (b)   Changes in Internal Control over Financial Reporting
 There were no changes in our internal controls over financial reporting that occurred during the period covered by this reportthat has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
 
 PART II. - OTHER INFORMATION
 
 ITEM 6.  EXHIBITS
 
 Exhibit No.

Description31.1

Certification of the President pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.31.2

Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.32.1

Certification of the President pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.32.2

Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
  12
  SIGNATURES
 
 In accordance with the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 24Holdings IncDated: May 10, 2011
/s/ Arnold P. KlingArnold P. Kling, President(Principal Executive Officer)Dated: May 10, 2011
/s/ Kirk M. WarshawKirk M. Warshaw, Chief Financial Officer(Principal Financial and Accounting Officer)
  13