U.
      S. SECURITIES AND EXCHANGE COMMISSION


FORM 10-QSB
 
 |X| QUARTERLY REPORT
          UNDER
          SECTION 13 OR 15(d) OF THE
 
 SECURITIES EXCHANGE
          ACT OF
          1934
 
  
  
 SAFARI ASSOCIATES,
          INC.
 
    
 
 
  
 3940-7
            Broad Street, #200, San Luis Obispo, CA      93401
 
    866-297-7192
 
  
  
  
  
 As
          of
          September 30, 2006 77,537,384 shares of common stock were
          outstanding.
 
 
  **Page
                - 1**
  SAFARI ASSOCIATES,
          INC.
 FORM 10-QSB
 QUARTER ENDED JUNE
          30,
          2006
 
 TABLE OF
          CONTENTS
  Part I - Financial Information
                Part II - Other Information
              Signatures
  **Page
                - 2**
  PART I - FINANCIAL
          INFORMATION
  SAFARI ASSOCIATES
          INC.
 CONSOLIDATED BALANCE
          SHEET
 September 30,
          2006
   **ASSETS**
                
                
                **2006****(Unaudited)****Current
                  Assets:**Cash
                
                $
                130,474Accounts
                  Receivable
                
                
                11,667Inventory
                
                
                108,720Deposits
                
                
                39
                  000Total
                    Current Assets
                
                
                289,861Equipment,
                  net
                
                
                13,783Intangible
                  assets, net
                
                
                11,676Total
                    Assets
                
                $
                315,320**LIABILITIES
                    AND STOCKHOLDERS’
                    (DEFICIT)****Current
                  Liabilities:**Notes
                  payable
                
                $
                32,148Accounts
                  Payable
                
                
                320,382Accrued
                  Expenses and other
                  liabilities
                
                
                277,961Convertible
                  Notes Payable
                
                
                505,500Total
                    Current Liabilities
                
                
                1,135,991**Stockholders’
                  (Deficit):**Common
                  Stock, par value $.001
                  authorized100,000,000
                    shares, issued andoutstanding
                    77,537,384 shares
                
                
                77,537Additional
                  Paid-in Capital
                
                
                213,000Retained
                  (deficit)
                
                
                (1,111,208
                )Total
                    Stockholders’ (Deficit)
                
                
                (820,671
                )Total
                    Liabilities and Stockholders’ (Deficit)
                
                $
                315,320
 
  **Page
                - 3**
 SAFARI ASSOCIATES
          INC.
 CONSOLIDATED STATEMENTS
          OF
          OPERATIONS
 FOR THE THREE AND
          NINE
          MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
   **NINE
                    MONTHS**
                
                
                **THREE
                    MONTHS****2006**
                
                
                **2006****(Unaudited)**
                
                
                **(Unaudited)**Revenue
                
                $
                423,389
                
                $
                243,512Cost
                  of Sales
                
                
                99,009
                
                
                51,567Gross
                  Profit
                
                
                324,380
                
                
                191,945**Operating
                  Expenses:**Advertising
                  and promotion
                
                
                117,247
                
                
                43,581Web-site
                  development
                
                
                29,758
                
                
                5,567Salaries,
                  commissions and
                  benefits
                
                
                58,910
                
                
                31,512Other
                  administrative expenses
                
                
                76,616
                
                
                30,126Total
                    Operating Expenses
                
                
                282,531
                
                
                110,786Net
                  income from Operations
                
                
                41,849
                
                
                81,159**Other
                  Expenses:**Interest
                  Expense
                
                
                4,844
                
                
                4,534Net
                  income before Provision For
                  IncomeTaxes
                
                
                37,005
                
                
                76,625Provision
                  for Income Taxes
                
                
                -
                
                
                -Net
                  (Loss)
                
                $
                37,005
                
                $
                76,625Net
                  (Loss) Per Common Share
                
                $
                .00
                
                $
                .00Weighted
                  Average Shares
                  Outstanding
                
                
                73,017,025
                
                
                75,501,900
 
 **Page
                  - 4**
 
 SAFARI ASSOCIATES
            INC.
 CONSOLIDATED STATEMENTS
          OF
          CASH FLOWS
 FOR THE NINE MONTHS
          ENDED
          SEPTEMBER 30, 2006 AND 2005
   **2006****(Unaudited)****Cash
                  Flows from Operating
                  Activities:**Net
                  Income (Loss)
                
                $
                37,005Adjustment
                  to Reconcile Net Income
                  (Loss)To
                    Net Cash Used in Operating Activities:Depreciation
                    and Amortization
                
                
                824Changes
                  in Operating Assets &
                  Liabilities:Accounts
                    Receivable
                
                
                (11,667
                )Inventory
                
                
                (86,730
                )Deposits
                
                
                (39,000
                )Accounts
                  Payable
                
                
                2,100Accrued
                  Expenses and other
                  liabilities
                
                
                13,979Net
                    Cash Used in Operating Activities
                
                
                (83,489
                )**Cash
                  Flows from Investing
                  Activities**Purchase
                  of equipment
                
                
                (13,783
                )Cash
                  acquired in acquisition of Safari
                  Associates
                
                
                39Net
                  Cash Used in Investing
                  Activities
                
                
                (13,734
                )**Cash
                  Flows from Financing
                  Activities:**Line
                  of credit
                
                
                17,148Net
                    Cash Provided by Financing Activities
                
                
                17,148Net
                    Increase (Decrease) in Cash
                
                
                (80,075
                )Cash
                  - Beginning of Period
                
                
                210,549Cash
                  - End of Period
                
                $
                130,474Supplemental
                  Disclosure to Cash Flow
                  StatementCash
                  paid during the period for
                  interest
                
                $
                865Common
                  Stock issued for intangible and
                  inventory
                
                $
                18,000
 
  **Page
                - 5**
 SAFARI ASSOCIATES,
          INC.
 **NOTES
          TO CONSOLIDATED FINANCIAL
          STATEMENTS**
 The
              following financial information is submitted in response to the requirements
              of
              Form 10-QSB and does not purport to be financial statements prepared
              in
              accordance with generally accepted accounting principles. Certain information
              and footnote disclosures normally included in financial statements
              prepared in
              accordance with generally accepted accounting principles have been
              condensed or
              omitted, although Safari Associates, Inc. and subsidiaries (the “Company")
              believes the disclosures that are made are adequate to make the information
              presented not misleading. Further, in the opinion of the management,
              the interim
              financial statements reflect fairly the financial position and results
              of
              operations for the periods indicated.
  It
              is
              suggested that these interim consolidated financial statements be read
              in
              conjunction with the financial statements and notes thereto included
              in the
              Company's Form 10KSB containing the Company's audited financial statements
              as of
              and for the year ended December 31, 2005 filed with the Securities
              and Exchange
              Commission. The results of operations for the nine months ended September
              30,
              2006 are not necessarily indicative of results to be expected for the
              entire
              fiscal year ending December 31, 2006.
 
 On
              September 12, 2006, the Company entered into an Asset Purchase Agreement
              with
              Power-Save Energy Corp. (hereinafter “POWER-SAVE”), a Nevada Corporation
              pursuant to which the Company agreed to issue 75,000,000 shares of
              common stock
              (the “Shares”) of the company for substantially all the assets of POWER-SAVE.
              There are no material relationships between the Company or its affiliates
              and
              any of the parties of the Asset Purchase Agreement. This transaction
              closed on
              September 13, 2006. The acquisition of these shares represented 75,000,000
              common shares or approximately 96.7% of the total outstanding stock
              of the
              Issuer (the “Majority Shares”). The transaction has been accounted for as a
              reverse acquisition whereby POWER-SAVE is treated as the acquirer for
              accounting
              purposes
 
 Power-Save
              (a development stage company) manufactures markets and sells an electricity
              savings device for homeowners. The Company’s initial product, the Power-Save
              1200’s primary function is to improve electric efficiency, and to reduce
              electrical consumption in the home.
 
 **Note
              2 - Summary of Significant Accounting Policies**
  **Basis
              of Presentation**
 The
              financial statements are prepared in accordance with accounting principles
              generally accepted in the United States of America. The preparation
              of the
              financial statements requires management to make estimates and assumptions
              that
              affect the reported amounts in the financial statements, including
              the estimated
              useful lives of tangible and intangible assets. Management believes
              the
              estimates used in preparing the financial statements are reasonable
              and prudent.
              Actual results could differ from these estimates.
 
 **Financial
              Instruments**
 
 The
              Company’s financial instruments include cash and cash equivalents and notes
              payable. At June 30, 2006 the carrying cost of these instruments approximate
              their fair value.
 
 **Cash
              Equivalents**
  Cash
              equivalents include highly liquid investments with maturities of three
              months or
              less.
 
 **Intangible
              Assets**
  In
              accordance with SFAS No. 142, "Goodwill and Other Intangible Assets,"
              the
              Company evaluates intangible assets and other long-lived assets for
              impairment,
              at least on an annual basis and whenever events or changes in circumstances
              indicate that the carrying value may not be recoverable from its estimated
              future cash flows.
 
 **Page
                - 6**
 
 SAFARI ASSOCIATES,
          INC.
 NOTES TO CONSOLIDATED
          FINANCIAL STATEMENTS
 Recoverability
              of intangible assets and other long-lived assets is measured by comparing
              their
              net book value to the related projected undiscounted cash flows from
              these
              assets, considering a number of factors including past operating results,
              budgets, economic projections, market trends and product development
              cycles. If
              the net book value of the asset exceeds the related undiscounted cash
              flows, the
              asset is considered impaired, and a second test is performed to measure
              the
              amount of impairment loss.
 
 **Revenue
              Recognition**
 
 Revenue
              is recognized in accordance with SEC Staff Accounting Bulletin No.
              101, “Revenue
              Recognition in Financial Statements”. The Company recognizes revenue when the
              significant risks and rewards of ownership have been transferred to
              the customer
              pursuant to applicable laws and regulations, including factors such
              as when
              there has been evidence of a sales arrangement, delivery has occurred,
              or
              service have been rendered, the price to the buyer is fixed or determinable,
              and
              collectibility is reasonably assured.
 
 **Income
              Taxes**
 
 Income
              taxes are accounted for in accordance with SFAS 109, *Accounting
              for Income Taxes,* using
              the asset and liability method. Deferred tax assets and liabilities
              are
              recognized for the future tax consequences attributable to differences
              between
              the financial statement carrying amounts of existing assets and liabilities
              and
              their respective tax bases and tax credit carryforwards. 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 income in the period that includes
              the
              enactment date.
 
 **Earnings
              Per Common Share**
 
 Statement
              of Financial Accounting Standards No. 128, “Earnings **** Per
              Share”, requires presentation of basic earnings per share (”Basic EPS”) and
              diluted earnings per share (“Diluted EPS”). Basic earnings (loss) per share is
              computed by dividing earnings (loss) available to common stockholders
              by the
              weighted average number of common shares outstanding (including shares
              reserved
              for issuance) during the period. Diluted earnings per share gives effect
              to all
              dilutive potential common shares outstanding during the period.
 
 **Concentration
              of Credit Risk**
 
 Financial
              instruments, which potentially subject the Company to concentrations
              of credit
              risk, consist of cash and cash equivalents and accounts receivables.
              The Company
              places its cash with high quality financial institutions and at times
              may exceed
              the FDIC $100,000 insurance limit. The Company extends credit based
              on an
              evaluation of the customer's financial condition, generally without
              collateral.
              Exposure to losses on receivables is principally dependent on each
              customer's
              financial condition. The Company monitors its exposure for credit losses
              and
              maintains allowances for anticipated losses, as required. Accounts
              are
“written-off” when deemed uncollectible.
 
 **Use
              of estimates**
 
 The
              preparation of financial statements in conformity with U.S. generally
              accepted
              accounting principles (GAAP) requires management to make estimates
              and
              assumptions that affect the amounts reported in the financial statements.
              The
              Company bases its estimates on historical experience, management expectations
              for
 
 
 
 **Page
                - 7**
 SAFARI ASSOCIATES,
          INC.
 NOTES TO CONSOLIDATED
          FINANCIAL STATEMENTS
  future
            performance and other assumptions as appropriate. Key areas affected
            by
            estimates include the assessment of the recoverability of long-lived
            assets,
            which is based on such factors as estimated future cash flows. The Company
            re-evaluates its estimates on an ongoing basis. Actual results may vary
            from
            those estimates.
 
 **Note
            3 - Commitments and Contingencies**
  The
            Company entered into a Non-Exclusive Distributor Agreement, which allows
            the
            Company to purchase at preferred pricing and market a certain patented
            electricity saving device. The Agreement has an initial term of one year.
            At the
            end of the one year term, the Agreement will continue until terminated
            by either
            party with at least thirty days prior notice. The Agreement requires
            the Company
            to purchase $7,500 of product in every three month period during the
            first two
            years and then increasing to $15,000 in every three month period for
            the
            remaining term of the Agreement. The total commitment for product purchases
            during the next twelve months is $30,000.
 
 **Note
            4 - Note Payable**
  POWER-SAVE
            has negotiated a line of credit with a bank in the amount of $55,000
            at
            September 30, 2006. The line of credit bears interest at 8.25% as of
            September
            30, 2006. The balance due on the line of credit at September 30, 2006
            is
            $17,148.
 
 **Convertible
            Notes Payable**
 
 On
            December 20, 2000, one of the creditors of the Company agreed to receive
            a note
            from the Company in the amount of $45,000 payable on December 19, 2002,
            together
            with interest thereon at the rate of 8% per annum. Commencing one year
            from the
            date of the note, the creditor may convert any portion of the note into
            restricted share of common stock in the Company at a conversion rate
            of $.15 per
            share. On August 9, 2001, the Company and three shareholders agreed to
            convert a
            total of $460,500 of accrued expenses, deferred compensation, and loan
            payable
            stockholder into convertible notes. The convertible notes were for a
            two year
            period with interest at the rate of 8% per annum, payable quarterly commencing
            December 1, 2001 until they mature on August 9, 2003. The notes are convertible
            into restricted shares of common stock at a conversion rate of $.25 per
            share.
            All of the above convertible notes plus accrued interest on those notes
            have
            been acquired by a group of non affiliated investors.
 
 **Notes
            Payable**
 
 The
            Company borrowed a total of $15,000 from two individual investors. The
            notes
            were for a term of four months with interest to be accrued at the rate
            of 8% and
            9% per annum. The notes have been extended on a month-to-month basis
            by mutual
            consent of the parties.
 
 **Note
            5 - Income Taxes**
 The
            Company has a net operating loss carryforward of approximately $6,000
            as
            September 30, 2006. The federal income tax benefit of this net operating
            loss is
            $900, and has been offset with a valuation allowance of $900 due to the
            uncertainty that the net operating loss will be used.
     **Page
              - 8**
  SAFARI ASSOCIATES,
            INC.
 NOTES TO CONSOLIDATED
            FINANCIAL STATEMENTS
 **Note
            6 - Intangible Assets**
  Intangible
            assets consist of those acquired in the asset purchase agreement with
            Advanced
            Builder Energy Technologies LLC (ABET), and include the ABET logo, the
            UL
            listing number, rights, licenses, designs and approvals, the customer
            lists, and
            any and all manufacturing agreements acquired. A summary of intangible
            assets as
            of June 30, 2006 is as follows:
 
 Intangible assets, at cost
                  
                  $
                  12,510Less - amortization allowed
                  
                  
                  834**$**
                  11,676
 
 **Note
            7 - Proforma Financial Information**
 
 Proforma
            Results of operations for the three and nine months ended September 30,
            2006
  
 Nine
                      Months
                  
                  
                  Three
                      MonthsRevenue
                  
                  $
                  423,389
                  
                  $
                  243,512Cost
                    of Sales
                  
                  
                  99,009
                  
                  
                  51,567Gross
                    Profit
                  
                  
                  324,380
                  
                  
                  191,945Operating
                    Expenses
                  
                  
                  451,551
                  
                  
                  200,692Interest
                    Expense
                  
                  
                  32,170
                  
                  
                  10,990Net
                    (loss)
                  
                  $
                  (159,341
                  )
                  $
                  (19,737
                  )Net
                    Loss per Share
                  
                  $
                  (.00
                  )
                  $
                  (.00
                  )
 **Page
                - 9**
 **Item
              2 - MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF
              OPERATION**
 
 Safari
              Associates, Inc., (the “Company”) is the successor corporation of Mag
              Enterprises, Inc., a Utah corporation incorporated on July 30, 1980.
              On
              September 10, 1993, an Amendment to the Articles of Incorporation was
              filed to
              change its name from Mag Enterprises, Inc. to Safari Associates,
              Inc.
 
 The
              Company has eight wholly owned subsidiaries Safari Group Safety Products,
              Inc.,
              Safari Camera Corporation, Photography For Evidence, Inc., Impact Dampening
              Technology, Inc., Safari Target Corporation, Shoothru, Inc., Safari
              Boat
              Company, and Safari Lure Company. All the subsidiaries are inactive
              except for
              Safari Group Safety Products, Inc. which is a research and development
              company.
 
 The
              stock
              consideration consisted of 75,000,000 newly issued shares of SFAR common
              stock,
              which were divided proportionally among the POWER-SAVE Shareholders
              in
              accordance with their respective ownership interests in POWER-SAVE
              immediately
              before the completion Acquisition Transaction.
  **LIQUIDITY
              AND CAPITAL RESOURCES**
  As
              of
              September 30, 2006, the current liabilities exceeded the current assets
              by
              $846,130. The Company has primarily relied on the proceeds of stockholder
              and
              officer loans to fund operations. The debt prior to the acquisition
              of
              Power-Save Energy Corp. are in the process of being settled and will
              be
              reflected in the period ending December 31, 2006.
  The
              Company is currently exploring different methods of raising additional
              equity
              capital through a private placement or other means. There is no assurance
              that
              the Company will be successful in its efforts to raise additional equity
              capital. Even if the Company is successful in raising additional capital,
              there
              is no assurance that it will be sufficient for the Company to be able
              to
              continue as a going concern.
 
 **Off
              Balance Sheet Arrangements**
 
 The
              Company does not have any off balance sheet arrangements that are reasonably
              likely to have a current or future effect on its financial condition,
              revenues,
              and results of operations, liquidity or capital expenditures.
 
 **ITEM
              3. CONTROLS AND PROCEDURES.**
  The
              Company's Chief Executive Officer and Chief Financial Officer (or those
              persons
              performing similar functions), after evaluating the effectiveness of
              the
              Company's disclosure controls and procedures (as defined in Rules 13a-14(c)
              and
              15d-14(c) under the Securities Exchange Act of 1934, as amended) as
              of a date
              within 90 days before the filing date of this quarterly report (the
              "Evaluation
              Date"), have concluded that, as of the Evaluation Date, the Company's
              disclosure
              controls and procedures were effective to ensure the timely collection,
              evaluation and disclosure of information relating to the Company that
              would
              potentially be subject to disclosure under the Securities Exchange
              Act of 1934,
              as amended, and the rules and regulations promulgated there under.
              There were no
              significant changes in the Company's internal controls or in other
              factors that
              could significantly affect the internal controls subsequent to the
              Evaluation
              Date.
 
 
 
 PART II - OTHER
          INFORMATION
  ITEM 1 Legal Proceeding
 
  ITEM 2 Changes in Securities and Use of Proceeds
 
  ITEM 3 Defaults upon Senior Securities
 
  ITEM 4 Submissions of Matters to a Vote of Security
          Holders
 
  ITEM 5 Other Information
 
 
 ITEM 6 Exhibits and Reports on Form 8-K
 
 
 
 
        
    SIGNATURES
 
   
 SAFARI ASSOCIATES,
          INC.
 
   Date: November 13, 2006 By: /s/ Michael Forster
                    Michael
                      Forster
                    Chief
                      Executive Officer & Chief Financial Officer
   **Page
                - 10**
 EXHIBIT 31.1
  CERTIFICATION
          PURSUANT
          TO RULE 13a-14 AND 15d-14 UNDER
 THE SECURITIES
          EXCHANGE
          ACT OF 1934, AS AMENDED
    
  1.
              Based on my knowledge, this annual report does not contain
                    any untrue
                    statement of a material fact or omit to state a material fact
                    necessary to
                    make the statements made, in light of the circumstances under
                    which such
                    statements were made, not misleading with respect to the period
                    covered by
                    this quarterly report;  2.
              Based on my knowledge, the financial statements, and other
                    financial
                    information included in this annual report, fairly present in
                    all material
                    respects the financial condition, results of operations and cash
                    flows of
                    the Registrant as of, and for, the periods presented in this
                    quarterly
                    report;   
  
 
 
  
 
  
   
  
   /s/ Michael Forster
     **Page
                - 11**
 EXHIBIT 32.1
 CERTIFICATE
          PURSUANT
          TO
 18 U.S.C. SECTION
          1350,
 AS ADOPTED PURSUANT
          TO
 SECTION 906
          OF THE
          SARBANES-OXLEY ACT OF 2002
  
 
 
 
 
 
 1.
              The Report fully complies with the requirements of Section
                    13(a) or
                    15(d) of the Securities Exchange Act of 1934;
                    and 
 
 2.
              The information contained in the Report Fairly presents,
                    in all
                    material respects, the financial condition and results of operations
                    of
                    the Company.  
  
 /s/ Michael Forster
    
 **Page
                - 12**