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

Form 10-QSB



|ý | Quarterly report pursuant section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended April 30, 2006                       
|- | ---------------------------------------------------------------------------------------------------------------------------------------------------------
|r | Transition report pursuant section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from ________________ to ________________
|  | Commission file number 0-29067                                                                                                                           

Most Home Corp.



|Nevada 
(State of Incorporation) | 98-0173359
(I.R.S. Employer Identification No.)
|-------------------------------- | -----------------------------------------------



Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý
      No r

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes q
   No ý

As of June 14, 2006 the Company had 29,317,947 outstanding shares of Common Stock. This amount excludes 1,700,000 shares of common stock issuable upon the conversion of 1,700,000 Series A Preferred shares.

Transitional Small Business Disclosure Format (Check one):  Yes q
   No ý





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Interim Consolidated Financial Statements of



MOST HOME CORP.

(Expressed in U.S. Dollars)



Nine months ended April 30, 2006

(Unaudited)

































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MOST HOME CORP.Notes to the Interim Consolidated Financial Statements(Expressed in U.S. Dollars)
Nine months ended April 30, 2006
(unaudited)

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1.	General and future operations:

Most Home Corp. (the "Company" or "Most Home") was incorporated under the laws of the State of Nevada on June 4, 1997. On April 28, 2000, the Company acquired two Canadian corporations Most Referred Real Estate Agents Inc. and Home Finders Realty Ltd. (the
"acquired companies") in a transaction that was accounted for as a purchase of the companies. Prior to the purchase, the Company was in the development stage as it was devoting substantially all of its efforts to the identification and development of new business opportunities. On July 31, 2001 the acquired companies merged into Most Referred Real Estate Agents Inc. (collectively
"Most Referred®").

Following the purchase transaction described above, the Company's primary business activity is providing lead acquisition, response and management services to real estate brokers and agents across North America, along with website and wireless realty products.

On April 19, 2005, the Company's subsidiary, 604587 B.C. Ltd., changed its name to Most Home Management Ltd. There were no active operations in this company for the period ended April 30, 2006.

On May 6, 2005, the Company formed Most Home Technologies Corp. Its primary business is to provide lead acquisition and response services to real estate brokers across North America, along with website, customer management and wireless products.

On June 13, 2005, the Company acquired Executive Wireless, Inc. ("EWI") under a Share Exchange Agreement.  Executive Wireless, Inc. consists of a Canadian parent company and a US subsidiary under the same name (collectively
"Executive Wireless").

On July 25, 2005, the Company incorporated Most Home Real Estate Services Inc. Its primary business is to provide lead qualification and management services for real estate transactions through its affiliate ClientBuilder agreements. There were no active operations in this company for the period ended April 30, 2006.

These consolidated financial statements have been prepared on a going concern basis in accordance with generally accepted accounting principles in the United States of America. The going concern basis of presentation assumes the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. Certain conditions currently exist, as discussed below, that raise substantial doubt upon the validity of this assumption. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Operations to date have primarily been financed through the issuance of common stock. The Company suffered recurring losses and negative cash flows from operations and as at April 30, 2006 has an accumulated deficit of $5,845,897 and a working capital deficiency of $437,608. The Company does not have sufficient working capital to sustain operations until the end of the fiscal year. Additional debt or equity financing will be required for this period and may not be available on reasonable terms. If sufficient financing cannot be obtained, the Company may be required to reduce operating activities.

Management's intention is to generate sufficient financing through the sale of common stock and the exercise of outstanding stock options and warrants. There can be no certainty whatsoever that such sources will provide sufficient additional cash in the twelve months ending April 30, 2007.

8

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MOST HOME CORP.

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2.	Significant accounting policies:

The interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States.

(a)	Consolidation:

The interim consolidated financial statements include the accounts of the Company and its subsidiaries: Most Referred Real Estate Agents Inc., Most Home Technologies Corp., Executive Wireless, Inc., Most Home Management Ltd. (formerly 604587 British Columbia Ltd.), Most Home Real Estate Services Ltd. and AMRR.com, Inc.

All significant inter-company balances and transactions have been eliminated in the interim consolidated financial statements.

(b)	Use of estimates:

The preparation of financial statements in conformity with generally accepted accounting principles 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 the reported amounts of revenues and expenses for the reporting periods. Actual results could differ from these estimates.

(c)	Basis of presentation:

The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-QSB and Item 310(b) of Regulation S-B, and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and changes in stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Readers of these financial statements should read the annual audited financial statements of the Company filed on Form 10-KSB in conjunction herewith. Operating results for the nine months ended April 30, 2006 are not necessarily indicative of the results that can be expected for the year ending July 31, 2006.

Certain of the comparative figures have been reclassified to conform to the current period's presentation.

(d)	Net loss per share:

Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Loss available to common shareholders is increased by dividends incurred on preferred stock in the period. Common shares issuable for little or no cash consideration upon the exchange of preferred shares are included in the weighted average number of shares used in the basic net loss per share calculation. Diluted loss per share is computed using the weighted average number of common stock and potentially dilutive common stock outstanding during the period.  For all periods presented, as outstanding options and warrants are anti-dilutive, basic and diluted loss per share is the same.

9

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MOST HOME CORP.Notes to the Interim Consolidated Financial Statements(Expressed in U.S. Dollars)
Nine months ended April 30, 2006
(unaudited)

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2.	Significant accounting policies (continued):

(e)	Stock-based compensation:

Prior to February 1, 2006, the Company accounted for its employee stock-based compensation arrangements in accordance with provisions of Accounting Principles Board ("APB") Opinion No. 25, Accounting for Stock Issued to Employees, and related interpretations.

As such, compensation expense under fixed plans is recorded on the date of grant only if the market value of the underlying stock at the date of grant exceeds the exercise price. The Company recognizes compensation expense for stock options, common stock and other equity instruments issued to non-employees for services received based upon the fair value of the equity instruments issued.

SFAS No. 123, Accounting for Stock-Based Compensation, requires entities that continue to apply the provisions of APB Opinion No. 25 for transactions with employees to provide pro forma net income and pro forma earnings per share disclosures for employee stock option grants as if the fair-value-based method defined in SFAS No. 123 had been applied to these transactions.

Effective February 1, 2006, the Company adopted the fair value recognition provisions of SFAS No. 123R
"Share Based Payments", using the modified prospective transition method. Under that transition method, compensation cost is recognized for all share-based payments granted prior to, but not yet vested as of February 1, 2006, based on the grant date fair value estimated in accordance with the original provisions of SFAS No. 123, and compensation cost for all share-based payments granted subsequent to February 1, 2006, based on the grant date fair value estimated in accordance with the provisions of SFAS No. 123R. Results for prior periods have not been restated.

As a result of adopting SFAS No. 123R on February 1, 2006, the Company's loss for the three month period ended April 30, 2006 is $73,049 higher than if it had continued to account for stock-based compensation under APB Opinion No. 25. Basic and diluted loss per share for the three month period ended April 30, 2006 would have remained unchanged at $0.03 per share.

The following table illustrates the effect on net loss and loss per share if the Company had applied the fair value recognition provisions of SFAS No. 123 to options granted for all periods prior to adoption of SFAS
No. 123R. For the purposes of this pro form disclosure, the fair value of
options is estimated using the Black-Scholes option pricing model and amortized to expense over the vesting period of the options:





























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MOST HOME CORP.Notes to the Interim Consolidated Financial Statements(Expressed in U.S. Dollars)
Nine months ended April 30, 2006
(unaudited)

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2.	Significant accounting policies (continued):

(e)	Stock-based compensation (continued):

Stock-based compensation is calculated using the Black-Scholes option pricing model based upon the following weighted average assumptions:



> Three months ended April 30, 2006
> 				Three months ended April 30, 2006
> 				Nine months ended April 30, 2006
> 				Nine months ended April 30, 2006Expected life of options
> 				1.6 years
> 				-
> 				1.7 years
> 				1.5 yearsExpected volatility
> 				203%
> 				-
> 				201%
> 				182%Expected dividend yield
> 				0%
> 				-
> 				0%
> 				0%Risk free interest rate
> 				4.80%
> 				-
> 				4.29%
> 				2.94%Average fair value of options granted
> 				$0.44
> 				-
> 				$0.38
> 				$0.44

A summary of the Company's stock option activity for the nine months ended April 30, 2006 is as follows:



> Date Granted
> 				Number ofOptions Granted
> 				Weighted AverageExercise PriceBalance, July 31, 2005
> 				Issued:
> 				September 27, 2005
> 				April 10, 2006
> 				Exercises:
> 				September 7, 2005
> 				December 9, 2005
> 				April 6, 2006
> 				Balance, April 30, 2006
> 				4,977,000
> 				
> 				500,000
> 				1,156,720
> 				(20,000)
> 				(1,000)(14,000)
> 				6,598,720
> 				
> 				$0.37
> 				
> 				0.35
> 				0.56
> 				
> 				0.20
> 				0.350.25
> 				$0.41



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MOST HOME CORP.Notes to the Interim Consolidated Financial Statements(Expressed in U.S. Dollars)
Nine months ended April 30, 2006
(unaudited)

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2.	Significant accounting policies (continued):

(e)	Stock-based compensation (continued):

Additional information regarding stock options as of April 30, 2006 is as follows:



















(f)	Recent Accounting Pronouncements:

In May 2005, the Financial Accounting Standards Board (FASB)
issued SFAS No. 154, "Accounting Changes and Error Corrections - A Replacement of APB Opinion No. 20 and SFAS No. 3". SFAS 154 changes the requirements for the accounting for and reporting of a change in accounting principle and applies to all voluntary changes in accounting principle. It also applies to changes required by an accounting pronouncement in the unusual instance that the pronouncement does not include specific transition provisions. SFAS 154 requires retrospective application to prior periods' financial statements of changes in accounting principle, unless it is impracticable to determine either the period-specific effects or the cumulative effect of the change. The provisions of SFAS No. 154 are effective for accounting changes and correction of errors made in fiscal years beginning after December 15, 2005. The adoption of this standard did not have a material effect on the Company's results of operations or financial position.

In December 2004, FASB issued SFAS No. 153, "Exchanges of Nonmonetary Assets
- An Amendment of APB Opinion No. 29". The guidance in APB Opinion No. 29, "Accounting for Nonmonetary Transactions", is based on the principle that exchanges of nonmonetary assets should be measured based on the fair value of the assets exchanged. The guidance in that Opinion, however, included certain exceptions to that principle. SFAS No. 153 amends Opinion No. 29 to eliminate the exception for nonmonetary exchanges of similar productive assets and replaces it with a general exception for exchanges of nonmonetary assets that do not have commercial substance. A nonmonetary exchange has commercial substance if the future cash flows of the entity are expected to change significantly as a result of the exchange. The provisions of SFAS No. 153 are effective for nonmonetary asset exchanges occurring in fiscal periods beginning after June 15, 2005. Early application is permitted and companies must apply the standard prospectively. The adoption of this standard did not have a material effect on the Company's results of operations or financial position.



12

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MOST HOME CORP.Notes to the Interim
Consolidated Financial Statements(Expressed in U.S. Dollars)
Nine months ended April 30, 2006
(unaudited)

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2.	Significant accounting policies (continued):

(f) Recent Accounting Pronouncements (continued):

In 2006, the FASB has issued SFAS No. 155 "Accounting for
Certain Hybrid Financial Instruments - an amendment of FASB Statements No. 133
and 140" and No. 156 "Accounting for Servicing of Financial Assets - an
amendment of FASB Statement No. 140", but they will not have a material effect in the Company's results of operations or financial position. Therefore, a description and its impact for each on the Company's operations and financial position have not been disclosed.

3.	Capital stock:

(a)	Authorized:

> 250,000,000100,000,0003,500,0003,500,0001,750,00091,250,000
> 				
> 				Common shares par value of $0.001 per sharePreferred shares par value of $0.001 per share, designated as follows:   Series A preferred shares, par value of $0.001 per share   Series B preferred shares, par value of $0.001 per share   Series C preferred shares, par value of $0.001 per share   Unissued and undesignated preferred shares

(b)	Share purchase warrants:

The following table summarizes the continuity of the Company's share purchase warrants:

> Date Granted
> 				Number ofWarrants Granted
> 				Weighted AverageExercise PriceBalance, July 31, 2005
> 				Expired:
> 				August 28, 2005
> 				Issued:
> 				August 29, 2005 1
> 					October 21, 2005
> 					November 6, 2005
> 					November 27, 2005
> 					December 8, 2005
> 					December 21, 2005Balance, April 30, 2006
> 				1,967,751
> 				
> 				(625,000)
> 				
> 				625,000
> 				416,667
> 				83,333
> 				583,333
> 				500,000166,667
> 				3,717,751
> 				$0.47
> 				
> 				0.15
> 				
> 				0.20
> 				0.33
> 				0.33
> 				0.33
> 				0.330.33
> 				$  0.41

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MOST HOME CORP.

Notes to the Interim Consolidated Financial Statements(Expressed in U.S. Dollars)
Nine months ended April 30, 2006
(unaudited)

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3.	Capital stock (continued):

(b)	Share purchase warrants (continued):

1

> Expected life of options
> 							2 yearsExpected stock price volatility
> 							576%Expected dividend yield
> 							0%Risk free interest rate
> 							3.12%Average fair value of options granted
> 							$0.49

As of April 30, 2006, $103,202 was recognized as management and consulting expense and $203,048 was recorded as prepaid expense.

As at April 30, 2006, the following share purchase warrants were outstanding:

|Number of shares                                                                                     | Exercise Price | Expiry Date                                                 
|---------------------------------------------------------------------------------------------------- | -------------- | ------------------------------------------------------------
|36,750
  300,000
    10,750
    995,251
   625,000
   416,667
83,333
583,333
500,000166,6673,717,751 |                | $0.40
$0.324
$0.99
$0.70
$0.20
$0.33
$0.33
$0.33
$0.33
$0.33

(c)	Shares issuances:

During the three month period ended April 30, 2006, the following shares were issued:

(i)	On February 8, 2006, a holder converted 171,559 Series A Preferred Shares into 171,559 shares of common stock of the Company.

(ii)	On March 16, 2006 the Company received gross proceeds of $105,117 for 300,333 units to an accredited investor at $0.35 per unit. Each unit consists of one common share and one half-warrant, expiring on March 27, 2009, with an exercise price of $0.50.

(iii)	On March 28, 2006 the Company received gross proceeds of $50,050 for 143,000 units to an accredited investor at $0.35 per unit. Each unit consists of one common share and one half-warrant, expiring on March 27, 2009, with an exercise price of $0.50.

(iv)	On April 4, 2006 the Company received gross proceeds of $149,451 for 427,000 units to an accredited investor at $0.35 per unit. Each unit consists of one common share and one half-warrant, expiring on April 3, 2009, with an exercise price of $0.50.

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MOST HOME CORP.Notes to the Interim Consolidated Financial Statements(Expressed in U.S. Dollars)
Nine months ended April 30, 2006
(unaudited)

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3.	Capital stock (continued):

(c)	Shares issuances (continued):

(v)	On April 6, 2006 the Company received gross proceeds of $850,551 for 2,430,143 units to an accredited investor at $0.35 per unit. Each unit consists of one common share and one half-warrant, expiring on April 5, 2009, with an exercise price of $0.50.

(vi)	On April 6, 2006 the Company received gross proceeds of $3,500 for the exercise of 14,000 stock options.

4.	Due from related parties:

The amount due from a company with common officers and directors bears interest at 7.5% per annum, due on demand, and is unsecured. This company is also a beneficial shareholder of the Company.

The Company earned interest income of $2,567 from this related company for the nine months ended April 30, 2006 (2005
- $2,057).

5.	Property and equipment:



















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MOST HOME CORP.

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6.	Intangible assets:





















7.	Goodwill:











Goodwill for Most Referred® originated from the acquisition on April 30, 2000, which was amortized to July 31, 2001. No further amortization was recorded to July 31, 2005. Goodwill for Executive Wireless originated from the acquisition of Executive Wireless, Inc. on June 13, 2005. No amortization was recorded to July 31, 2005.

In June 2001, the Financial Accounting Standards Board ("FASB")
issued Statement of Financial Standards ("SFAS") Nos. 141 and 142, "Business
Combinations" and "Goodwill and Other Intangible Assets", respectively. SFAS No.
141 requires business combinations to be accounted for using the purchase method
and replaces Accounting Principles Board guidance on purchase accounting related
to the recognition of intangible assets and accounting for negative goodwill.
SFAS No. 142 requires companies to test goodwill for impairment annually in lieu
of amortization at a reporting unit level. Goodwill is impaired if the reporting
unit's fair value is less than its carrying amount, and if impaired, the company
would recognize an impairment loss by writing down the goodwill to its implied
fair value.

The Company tests for impairment of goodwill annually on July
31st. The Company utilizes the market value of the Company as an indicator of
the fair value of the reporting unit to measure impairment of enterprise level
goodwill as the Company estimates as a single reporting unit. An impairment
loss, if any, will be reflected at such time that the Company believes goodwill
has become impaired. To April 30, 2006, no goodwill impairment loss recognition
has been required.

Additional goodwill of $29,631 was recognized in the current period for additional direct costs incurred relating to the acquisition of Executive Wireless, Inc., which have increased the aggregate purchase price.

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MOST HOME CORP.

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8.	Loan payable:

Bank term loan repayable in monthly instalments of
$2,057 (CDN$2,300), including interest at lender prime plus 1.50% (7.50%
- April 30, 2006), secured by a General Security Agreement and a $134,168 (CDN$150,000) security pledge by each of two directors and an officer of the Company, and due on demand.

As part of the General Security Agreement, the Company also secured a Canadian dollar line of credit for its Most Referred® subsidiary which bears interest at lender prime plus 1.25% (7.25%
- April 30, 2006). There was an outstanding balance of $37,567 (CDN$42,000) on the line of credit as of April 30, 2006.



9.	Subsequent events:

a)	During the period of May 3 to June 8, 2006, the Company received total gross proceeds of $111,000 for the exercise of 555,000 stock options.

b) On May 15, 2006, 34,495 common shares were issued to a
consultant for services rendered to the Company.

c)	On June 8, 2006, the Company entered into a non-binding letter of intent to acquire all the shares of a privately held, US-based call center operation. The total value of the acquisition is estimated at $30 million.





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Item 2. Management's Discussion and Analysis or Plan of Operations

Corporate Transition
Over the past 12 months, Most Home Corp. has transitioned its core business to focus on the enterprise

In analyzing its market, Most Home management realized that there was an opportunity to its lead management and customer service capabilities and offer this service through brokerages rather than individual real estate sales associates. This is a space in the industry where the Company faces less competition and where it has an opportunity to build barriers to entry against future competitors.

Most Home management believes that it is in the long term interest of the Company to align itself with the traditional brokerages. This is an ideal model for Most Home, with its core competencies mirroring the needs of the traditional brokerages and their large advertising programs.

During the current period, the Company has made significant headway in acquiring service contracts with major brokerages within the industry in the US and Canada. The success in acquiring these new contracts validates the transition that the Company has embarked upon.

In the current quarter ended April 30, 2006 (Q3), the company signed multi-year agreements with a number of leading real estate brokerages and franchises to provide eTeam lead management services, which include:

·
	RE/MAX Western Canada;

·
	RE/MAX Ontario-Atlantic;

·
	Windermere Real Estate Services; and

·
	The Herman Group, Prudential Colorado.

RE/MAX is Canada's leading real estate organization with over 15,600 sales associates in more than 610 independently-owned and operated offices. Under the terms of the agreements, Most Home will provide the RE/MAX Western Canada and RE/MAX Ontario-Atlantic regions with an advanced property search, mapping and lead generation system that will be available to all offices and agents. Additionally, Most Home will also provide RE/MAX Western Canada with a sophisticated lead response and management program that tracks prospects from initial inquiry to completion.

Windermere Real Estate is the leading residential real estate network in the U.S. Pacific Northwest with more than 280 offices and 8,000 associates serving neighborhoods in: Arizona, California, Idaho, Montana, Nevada, Oregon, Utah, Washington, Wyoming and British Columbia, Canada. Most Home will provide front-line customer service to all Web-based inquiries and route qualified leads to sales associates in offices.

The Herman Group consists of 1,000 Prudential real estate associates and employees servicing: Colorado, Arizona, and Wyoming. The Most Home eTeam solution was deployed in Colorado in December 2005 and is in the process of being rolled out to all offices.

In addition to these franchise agreements, the Company also signed 6 additional agreements with regional brokerages to provide eTeam lead management services. In management's view, there is growing interest for its services among real estate brokerages and believes that the challenge for the Company will be to rapidly scale its operations to ensure it meets market demands. Management is examining several options related to increasing capacity to meet the level of demand it is experiencing. Subject to available capital, the Company will look to expand its business through an acquisition(s) that would enhance and compliment its operations and core competencies. Management believes that this combined strategy of growth by organic means and acquisition represents the best opportunity to meet the growth objectives of the Company and its investors in fiscal 2006 and beyond. There can be no assurance that Most Home will be able to raise sufficient capital, or complete an acquisition(s), in order to scale its operations to meet the demand for its products and services (see Liquidity and sources of capital).

18

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Item 2. Management's Discussion and Analysis or Plan of Operations (continued)

Employees. As of June 14, 2006, the Company employed 59 people, including 4 contractors on a part-time basis, and 6 employees are licensed REALTORS® or have real estate experience.

Foreign Currency Impact

The Company currently derives approximately 90% of its revenues from U.S. sources and nearly 100% of its expenses from Canadian sources. Increases in the Canadian dollar have negatively impacted the Company's expenses and cash flows. The Bank of Canada (http://www.bankofcanada.ca) reports that the average exchange rate, based on monthly averages, for the Canadian to U.S. dollar was 1.1500 for the three-months and 1.1676 for the nine-months ended April 30, 2006 compared to 1.2306 for the three months and 1.2421 for the Nine months ended April 30, 2005. This represents an increase of approximately 7% for the three-months and 6.4% for the nine-months ended April 30, 2006, on an average period exchange rate basis, in the Company's expenses and cash disbursements. The Company does not currently engage in foreign currency hedging activities.

Revenues and expenses

The following table show revenues and margins for the nine-month period ended April 30, 2006 with comparative figures for the prior year:

| |                            | Nine months endedApril 30, 2006 | % of Sales | Nine months endedApril 30, 2005 | % of Sales
| | -------------------------- | ------------------------------- | ---------- | ------------------------------- | ----------
| | Revenues:                  |                                 |            |                                 |           
| | Referrals                  | $    516,518                    | 42.4%      | $   772,491                     | 61.5%     
| | Membership & ClientBuilder | 539,583                         | 44.3%      | 470,654                         | 37.5%     
| | Wireless                   | 126,640                         | 10.4%      | -                               | -         
| | Other                      | 35,068                          | 2.9%       | 12,908                          | 1.0%      
| |                            | 1,217,809                       | 100.0%     | 1,256,053                       | 100.0%    
| |                            |                                 |            |                                 |           
| | Gross Margin:              | 477,158                         | 39.2%      | 556,517                         | 44.3%     
| |                            |                                 |            |                                 |           
| | Operating  
   expenses    | 2,391,547                       | 196.4%     | 1,414,939                       | 126.5%    
| | Net operating Loss         | $ (1,914,389)                   | (157.2)%   | $ (858,422)                     | (68.3)%   



The following table shows revenues and margins for the three-month period ended April 30, 2006 with comparative figures for the prior year:

| |                            | Three months endedApril 30, 2006 | % of Sales | Three months endedApril 30, 2005 | % of Sales
| | -------------------------- | -------------------------------- | ---------- | -------------------------------- | ----------
| | Revenues:                  |                                  |            |                                  |           
| | Referrals                  | $  142,377                       | 35.3%      | $  251,008                       | 60.9%     
| | Membership & ClientBuilder | 201,285                          | 49.9%      | 159,679                          | 38.8%     
| | Wireless                   | 47,866                           | 11.9%      | -                                | -         
| | Other                      | 11,916                           | 2.9%       | 1,265                            | 0.3%      
| |                            | 403,444                          | 100.0%     | 411,952                          | 100.0%    
| |                            |                                  |            |                                  |           
| | Gross Margin:              | 130,290                          | 32.3%      | 195,051                          | 47.3%     
| |                            |                                  |            |                                  |           
| | Operating  
   expenses    | 885,117                          | 219.4%     | 593,619                          | 144.1%    
| | Net operating Loss         | $ (754,827)                      | (187.1%)   | $ (398,568)                      | (96.8%)   



19

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Item 2. Management's Discussion and Analysis or Plan of Operations (continued)

Revenues and expenses (continued)

Gross margin for the quarter ended April 30, 2006 was $130,290 compared to $195,051 for the comparable quarter ended April 30, 2005. The decrease in gross margin as a percentage of revenue for the three months ended April 30, 2006 is due to a decrease in referral revenues and the impacts of foreign exchange rates. Changes in the sources of revenue of the Company influence the gross margin percentage. As a percentage of revenue, membership and ClientBuilder sales increased to 49.9% for the quarter ended April 30, 2006 compared to 38.8% for the quarter ended April 30, 2005. Wireless sales increased to 11.9% for the quarter ended April 30, 2006 compared to nil% for the quarter ended April 30, 2005. As a percentage of total revenue, referral fees decreased to 35.3% for the quarter ended April 30, 2006 from 60.9% for the quarter ended April 30, 2005. Gross margin on sales decreased in the three-month period ended April 30, 2006 due to decreased referral revenue while costs remained fixed. Direct wages costs on referral revenues are salary based and not scaled to revenues. This may cause further decreases in gross margin should referral revenues continue to decrease in future periods. As membership, ClientBuilder and wireless sales continue to increase as a percentage of gross revenues and referrals decrease; gross margin will increase in future periods. Continued weakness in the Canadian dollar may decrease gross margin in future periods (see Foreign Currency Impact).

The decrease in referral revenues for the quarter ended April 30, 2006 was the result of decreased leads generated through the Company's websites listed on Internet search engine portals. Approximately 50% of the Company's leads have a direct correlation to the ranking of the Company's lead generating websites on Internet portals such as Google, Yahoo, MSN and Inktomi. The Company is working to mitigate the lower than expected lead production and continue to increase its websites' rankings on these portals, but there can be no assurance of success. The Company has also taken steps to generate leads through third-parties, and sell them on a per-lead rather than a success fee basis, in order to reduce its exposure to search engine uncertainty.

Operating expenses were $885,117 during the current quarter compared to $593,619 for the quarter ended April 30, 2005. This increase is due to hiring additional operations, development and administrative staff to meet demand, additional consulting expenses for business development and planning, professional fees, and an increase in the value of the Canadian dollar. Advertising and promotion decreased from $27,665 for the three months ended April 30, 2005 to $10,749 for the three months ended April 30, 2006. This decrease is due to a reduction in advertising expenditures during the current quarter. Amortization of intangibles increase from $1,891 for the three months ended April 30, 2005 to $29,763 for the current quarter due to amortization of customers and technology relating to the EWI acquisition in June 2005. Bad debts increased from nil for the three months ended April 30, 2005 to $15,611 for the current quarter ended April 30, 2006. This increase is largely due to the write-off of several accounts acquired from Executive Wireless in June 2005. Professional fees increased from $11,821 for the three months ended April 30, 2005 to $63,941 for the current quarter due to additional general legal and related securities services. Insurance and licensing increased from $12,036 for the three months ended April 30, 2005 to $26,734 for the three months ended April 30, 2006. This increase is due increased coverage and expense for director and officer's liability. Wages and benefits increased from $196,478 for the three months ended April 30, 2005 to $374,722 for the current quarter ended April 30, 2006. This increase is due to hiring additional technical, development, support and administrative staff, along with general wages increases. Investor relations and marketing decreased to $6,400 for the three months ended April 30, 2006 from $97,627 for the three months ended April 30, 2005. This decrease is due to reduced investor relations consultants and related stock compensation. Other increases in expenses for the three months ended April 30, 2006 over the three months ended April 30, 2005, were largely due to foreign exchange rate changes (see Foreign Currency Impact) in bank charges and interest and do not reflect increased expenditures.

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Item 2. Management's Discussion and Analysis or Plan of Operations (continued)

Critical accounting policies

The Company's discussion and analysis of its financial condition and results of operations, including the discussion on liquidity and capital resources, are based on its consolidated financial statements that have been prepared in accordance with U.S. generally accepted accounting principles. The preparation of these financial statements requires management to make estimates and judgments that affect reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, management re-evaluates its estimates and judgments, particularly those related to the determination of the impairment of goodwill and intangible assets. Management bases its estimates and judgments on historical experience, contractual arrangements and commitments and on various other assumptions that it believes are reasonable in the circumstances. Changes in these estimates and judgments will impact the amounts recognized in the consolidated financial statements, and the impact may be material. Management believes the following critical accounting policies require more significant estimates and judgments in the preparation of the consolidated financial statements. The consolidated financial statements have been prepared on the going concern basis, which assumes the realization of assets and liquidation of liabilities in the normal course of operations.

If the Company was not to continue as a going concern, it would likely not be able to realize on its assets at values comparable to the carrying values reflected in the consolidated financial statements. As described elsewhere in this report, at April 30, 2006, there are certain conditions that currently exist which raise substantial doubt about the validity of this assumption. While the Company anticipates raising additional private placement funds to remove the substantial doubt, these private placements are not assured. Failure to raise additional funds may result in the Company curtailing operations or writing assets and liabilities down to liquidation values, or both.

Goodwill is not amortized and is only written down if impaired. In estimating fair value of goodwill, management estimates their value at the reporting unit level. The fair value of goodwill will be impacted by general economic conditions, demand for the Company's services and other factors. To the extent that fair value is reduced in future periods, the Company may be required to record an impairment charge against the carrying value of the goodwill.

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Item 2. Management's Discussion and Analysis or Plan of
Operations (continued)

Liquidity and sources of capital

Working capital deficiency was $437,608 at April 30, 2006.

During the nine-month period ended April 30, 2006 Most Home's operations used $1,747,989 in cash. During this period the Company spent $34,903 on the purchase of equipment, $32,053 for additional acquisition costs of Executive Wireless, Inc., and $186,727 on development. Cash required by Most Home during the Nine months ended April 30, 2006 was generated through capital raising activities, generating approximately $2,108,403, net of issuance costs, through the private sale of stock and the exercise of stock options.

Remaining commitments on the Company's term loan are approximately $2,057 ($CDN 2,300) per month, or a total of approximately $14,401, including principal and interest, up to and including October 30, 2006.

Management anticipates that cash flow requirements for the twelve months ended April 30, 2007 will be met through the exercise of outstanding stock options and warrants, private placements of stock and the repayment of amounts due from related parties. There can be no assurance that any of these capital sources will provide the necessary cash flow to the Company for it to sustain operations.

Management anticipates cash flow needs for the twelve months ended April 30, 2007 are as follows:

> Operating expenses
> 			$    593,585Advertising and promotions
> 			249,000Capital purchases
> 			244,200Product development
> 			520,000Debt and liability reduction
> 			587,000$ 2,193,785

Recent Accounting Pronouncements

In May 2005, the Financial Accounting Standards Board (FASB)
issued SFAS No. 154, "Accounting Changes and Error Corrections - A Replacement of APB Opinion No. 20 and SFAS No. 3". SFAS 154 changes the requirements for the accounting for and reporting of a change in accounting principle and applies to all voluntary changes in accounting principle. It also applies to changes required by an accounting pronouncement in the unusual instance that the pronouncement does not include specific transition provisions. SFAS 154 requires retrospective application to prior periods' financial statements of changes in accounting principle, unless it is impracticable to determine either the period-specific effects or the cumulative effect of the change. The provisions of SFAS No. 154 are effective for accounting changes and correction of errors made in fiscal years beginning after December 15, 2005. The adoption of this standard did not have a material effect on the Company's results of operations or financial position.

In December 2004, FASB issued SFAS No. 153, "Exchanges of Nonmonetary Assets - An Amendment of APB Opinion No. 29". The guidance in APB Opinion No. 29, "Accounting for Nonmonetary Transactions", is based on the principle that exchanges of nonmonetary assets should be measured based on the fair value of the assets exchanged. The guidance in that Opinion, however, included certain exceptions to that principle. SFAS No. 153 amends Opinion No. 29 to eliminate the exception for nonmonetary exchanges of similar productive assets and replaces it with a general exception for exchanges of nonmonetary assets that do not have commercial substance. A nonmonetary exchange has commercial substance if the future cash flows of the entity are expected to change significantly as a result of the exchange. The provisions of SFAS No. 153 are effective for nonmonetary asset exchanges occurring in fiscal periods beginning after June 15, 2005. Early application is permitted and companies must apply the standard prospectively. The adoption of this standard did not have a material effect on the Company's results of operations or financial position.

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Item 2. Management's Discussion and Analysis or Plan of Operations (continued)

Recent Accounting Pronouncements (continued)

In 2006, the FASB has issued SFAS No. 155 "Accounting for Certain Hybrid Financial Instruments - an amendment of FASB
Statements No. 133 and 140" and No. 156 "Accounting for Servicing of
Financial Assets - an amendment of FASB Statement No. 140", but they will not have a material effect in the Company's results of operations or financial position. Therefore, a description and its impact for each on the Company's operations and financial position have not been disclosed.



Item  3. Controls and Procedures

Under the supervision and with the participation of the Company's management, including the Company's Chief Executive Officer and Chief Financial Officer, the Company has evaluated the effectiveness of the design and operation of its disclosure controls and procedures pursuant to Exchange Act Rule 13a-14(c) as of the end of the period covered by this quarterly report. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that these disclosure controls and procedures are effective. There were no significant changes in the Company's internal controls or in other factors that could significantly affect internal controls subsequent to the date of their evaluation.





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CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

The required review of the Registrant's financial statement by the independent public accountant is currently under way.

From time to time, the Company will make written and oral forward-looking statements about matters that involve risk and uncertainties that could cause actual results to differ materially from projected results.

Many of these factors are beyond the Company's ability to control and predict. Investors are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update its forward-looking statements, whether as a result of receiving new information, the occurrence of future events, or otherwise.

This Quarterly Report contains statements that are forward-looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of issues and uncertainties such as those listed below, which, among others, should be considered in evaluating the Company's financial outlook.

An investment in Most Home's common stock involves risks due in part to prior operating losses, the limited market for Most Home's common stock, and competition in the real estate industry.

Prospective investors should be aware that ownership of Most Home's common stock involves risks which could depress the value of their shares. Most Home does not make, nor has it authorized any other person to make, any representations about the future market value of Most Home's common stock.

The Company's securities should be purchased only by persons who can afford to lose their entire investment. Prospective investors should read this entire quarterly report in conjunction with our Annual Report filed on Form 10K-SB and carefully consider, among others, the following risk factors in addition to the other information in this report prior to making an investment.

Most Home has suffered losses in the past

Most Home had net loss of $738,054 for the three months and $1,897,616 for the nine months ended April 30, 2006. Most Home incurred a net loss of $1,560,546 for the year ended July 31, 2005 and incurred a net loss of $148,718 for the year ended July 31, 2004. The Company's deficit as of April 30, 2006 is $5,845,897. Although management anticipates profitability in future periods, profitability cannot be assured and further losses may occur.

Most Home is dependant on additional financing to expand its operations. If adequate funds are not available when required or on acceptable terms, Most Home may be required to alter its business plans and delay or scale back its sales and marketing efforts which, in turn, would result in a decline in Most Home's revenues.

Most Home needs additional capital to advance and scale its business and marketing plans to meet demand from real estate brokerages. There is risk if the Company is unable to scale its operations to meet this demand, that competitors would enter the market and diminish future prospects for the Company. Since the cash generated from Most Home's operations may not be sufficient to fund these activities, Most Home may need additional financing through private financings, debt or equity offerings or collaborative arrangements with others. Any equity offering will result in dilution of the ownership interest of Most Home's shareholders and may result in a decline in the price of Most Home's common stock. The auditors' report with respect to Most Home's financial statements for the fiscal year ended July 31, 2005 filed with the Annual Report on Form 10-KSB includes an explanatory paragraph on these conditions that places substantial doubt about Most Home's ability to continue as a going concern. These financial statements do not include any adjustment as a result of this uncertainty.

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Most Home's services are dependent on the use of the Internet and wireless carriers and any interruptions, delays or capacity problems experienced on the Internet, wireless networks, or with telephone connections would adversely affect Most Home's ability to operate.

Although Most Home has instituted safeguards and redundancy for its systems, possible technical problems could occur, including software failures that result in Most Home being unable to view customer information by means of its websites, and website server hardware failures that cause Most Home's or Most Home managed websites to be unavailable to its customers for significant periods of time.

Most Home may not be able to protect its intellectual property.

Most Home seeks to enhance our market position with real estate professionals by building proprietary systems into our web sites, real estate data aggregation platform, real estate search engines, and customer management solutions. We regard many elements of our websites and underlying technologies to be proprietary and we attempt to protect these elements and underlying technologies by relying on trademark, service mark, copyright and trade secret laws, restrictions on disclosure and other methods. It is possible that others may independently develop superior underlying technologies. Monitoring and identifying unlawful use of Most Home's technology may prove difficult, and the cost of litigation may prevent Most Home from prosecuting any unauthorized use of its technology.

Government regulation and legal uncertainties could impair the growth of the Internet and decrease demand for Most Home's services or increase its cost of doing business.

Although there are currently few laws and regulations directly applicable to the Internet, a number of laws have been proposed involving the Internet, including laws addressing user privacy, pricing, content, copyrights, distribution, antitrust and characteristics and quality of products and services. Further, the growth and development of the market for online email may prompt calls for more stringent consumer protection laws that may impose additional burdens on those companies conducting business by means of the internet. The adoption of any additional laws or regulations may impair the growth of the Internet or commercial online services which could decrease the demand for Most Home's services and increase the cost of doing business, or otherwise harm Most Home's business and operating results. Moreover, the applicability of existing laws to the Internet relating to property ownership, sales and other taxes, libel and personal privacy is uncertain and may take years to resolve.

The limited public market for Most Home's common stock may limit the ability of shareholders to sell their shares.

Most Home's common stock is quoted on the OTC Bulletin Board and there has been only a limited public market for Most Home's common stock. An active trading market for Most Home's stock may not develop and purchasers of the shares may not be able to resell their securities at prices equal to or greater than the price paid for these shares. The market price of Most Home's common stock may decline as the result of announcements by Most Home or its competitors, variations in Most Home's results of operations, and market conditions in the real estate and Internet industries in general.

Rules of the Securities and Exchange Commission concerning low priced securities may limit the ability of shareholders to sell their shares.

Most Home's common stock is subject to Rule 15g-9 of the Securities and Exchange Commission which regulates broker/dealer practices in connection with transactions in
"penny stocks". Penny stocks generally are equity securities with a price of less than $5.00, other than securities registered on certain national securities exchanges or quoted on the NASDAQ system, provided that current price and volume information with respect to transactions in that security are provided by the exchange or system. The penny stock rules require a broker/dealer, prior to a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document prepared by the Commission that provides information about penny stocks and the nature and level or risks in the penny stock market. The broker/dealer also must provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker/dealer and its

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salesperson in the transaction, and if the broker/dealer is the sole market-maker, the broker/dealer must disclose this fact and the broker/dealer's presumed control over the market. This information must be provided to the customer orally or in writing before or with the written confirmation of trade sent to the customer. The bid and offer quotations, and the broker/dealer and its salesperson compensation information, must be given to the customer in writing before or with the customer's confirmation. The broker/dealer must make a special suitability determination for purchasers of the securities and receive the purchaser's written agreement to the transaction prior to sale. Monthly statements must be sent by the broker/dealer to the customer disclosing recent price information for the penny stock held in the account and information on the limited market in penny stocks. These disclosure requirements may reduce the level of trading activity in the market for Most Home's common stock and may limit the ability of investors in this offering to sell Most Home's common stock in the secondary market.

The issuance of additional shares of common stock could cause the price of Most Home's common stock to decline.

As of June 14, 2006, Most Home has options, warrants and preferred stock outstanding, the exercise or conversion of which could result in the issuance of 12,016,471 additional shares of common stock. To the extent these shares are issued, the percentage of common stock held by existing common stockholders will be reduced. In addition the exercise of any or all of the options or warrants might result in further dilution of the net tangible book value of the existing stockholders' shares. If the market price of Most Home's common stock is above the exercise price of an option or warrant the holders of the option or warrant may exercise the warrant or option, in which case Most Home would be required to sell its shares at below market prices, further diluting the interests of other shareholders.





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PART II  -  OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

(a)   The following sets forth certain information regarding sales of equity securities that were either not registered under the Securities Act or not previously included in a Current Report on Form 8-K during the three months ended April 30, 2006:

On February 2, 2006, a holder converted 171,559 Series A Preferred Shares into 171,559 shares of common stock of the Company. The issuance of these securities was exempt from the registration requirements of the Securities Act under Section 4(2).

As of April 30, 2006, the Company has accrued 34,495 restricted shares to be issued to Gilbeth Holdings Ltd., a consultant providing services to the Company, as partial compensation owing to the consultant for services provided. No commission will be paid in connection with the issuance of securities. No general solicitation or general advertising was conducted in connection with the issuance of securities. These securities when issued will be exempt from the registration requirements of the Securities Act under Section 4(2).

Item 3. Defaults upon Senior Securities

None.

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

None

Item 5. Other Information

None

Item 6. Exhibits

|Exhibit No. | Description of Exhibit                                                                                 
|----------- | -------------------------------------------------------------------------------------------------------
|31.1        | Certifications of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|31.2        | Certifications of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|32.1        | Certifications of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002    
|32.2        | Certifications of Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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SIGNATURES

In accordance with the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

|                    | MOST HOME CORP.                                                                               
|------------------- | ----------------------------------------------------------------------------------------------
|Date: June 15, 2006 | By:   /s/ Kenneth Galpin        Kenneth Galpin, 
        President and Chief Executive Officer
|Date: June 15, 2006 | By:   /s/ Michael Schutz        Michael Schutz, 
        Treasurer and Chief Financial Officer



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