UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549

FORM 10-QSB

(Mark One)

[X] Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934

for the quarterly period ended September 30, 2007

[  ]  Transition report under Section 13
or 15(d) of the Exchange Act

for
the transition period from _______ to _______

Commission File No. 000-23689

PERFISANSHOLDINGS,INC.(Exact name of registrant as specified in its charter)

|Maryland                 |  | 91-1869317                          
|------------------------ |  | ------------------------------------
|(State of Incorporation) |  | (I.R.S. Employer Identification No.)

Unite 310, 19 Crown Steel Drive, Markham, Ontario L3R 9X8(Address of principal executive offices)

7828 Kennedy Road, Unit #201, Markham, Ontario L3R 5P1(Former address of principal executive offices)

|Issuers telephone number, including area code: | (905)
    943-9996
|----------------------------------------------- | ------------------

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [  ]

Indicate by check mark whether the registrant is a
shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).         Yes [  ]  No [X]


APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuers classes of common equity, as of the latest practicable date:

As of November 7, 2007 there were 139,703,100 shares
of common stock, par value $0.001 per share, outstanding.

Transitional Small Business Disclosure Format (check one):           Yes [  ]  No [X]

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TABLE OF CONTENTS

|PART 1  FINANCIAL INFORMATION |                                                     | 1 
|------------------------------ | --------------------------------------------------- | --
|                               |                                                     |   
|ITEM 2.                        | MANAGEMENTS DISCUSSION AND ANALYSIS AND PLAN OF    |   
|                               | OPERATIONS                                          |   
|                               |                                                     |   
|ITEM 3.                        | CONTROLS AND PROCEDURES                             |   
|                              
|PART II  OTHER INFORMATION    |                                                     | 9 
|                               |                                                     |   
|ITEM 1.                        | LEGAL PROCEEDINGS                                   |   
|                               |                                                     |   
|ITEM 2.                        | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF  |   
|                               | PROCEEDS                                            |   
|                               |                                                     |   
|ITEM 3.                        | DEFAULTS UPON SENIOR SECURITIES                     |   
|                               |                                                     |   
|ITEM 4.                        | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS |   
|                               |                                                     |   
|ITEM 5.                        | OTHER INFORMATION                                   |   
|                               |                                                     |   
|ITEM 6.                        | EXHIBITS                                            |   
|                              
|SIGNATURES                     |                                                     | 10

i

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PART 1  FINANCIAL INFORMATION

PERFISANS HOLDINGS, INC.INTERIM CONSOLIDATED FINANCIAL STATEMENTSSEPTEMBER 30, 2007(Amounts expressed in US Dollars)

TABLE OF CONTENTS

|Interim Consolidated Balance Sheets for the Nine Months September 30, 2007 (Unaudited) and      
|------------------------------------------------------------------------------------------------
|the Year Ended December 31, 2006 (Audited)                                                      
|                                                                                                
|Interim Unaudited Consolidated Statements of Operations for the three months ended              
|September 30, 2007 and 2006                                                                     
|                                                                                                
|Interim Unaudited Consolidated Statements of Operations for the nine months ended               
|September 30, 2007 and 2006                                                                     
|                                                                                                
|Interim Unaudited Consolidated Statements of Cash Flows for the nine months ended               
|September 30, 2007 and 2006                                                                     
|                                                                                                
|Interim Consolidated Statements of Changes in Stockholders Deficiency for the nine months ended
|September 30, 2007 (Unaudited) and for the year ended December 31, 2006 (Audited)               
|                                                                                                
|Condensed Notes to Interim Consolidated Financial Statements                                    

1

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PERFISANS HOLDINGS, INC.Interim Balance SheetsAs of Nine Months September 30, 2007 (Unaudited) and Year Ended December 31, 2006(Audited)(amounts expressed in US Dollars)

|                                         |  | Nine Months   |             | Year        
|---------------------------------------- |  | ------------- | ----------- | ------------
|                                         |  | Ended         |             | Ended       
|                                         |  | September 30, |             | December 31,
|                                         |  | 2007          |             | 2006        
|                                         |  | (Unaudited)   |             | (Audited)   
|ASSETS                                   |  |               |             |             
|CURRENT ASSETS                           |  |               |             |             
|Cash and cash equivalents                |  | $             | 59,212      |             
|Prepaid expenses and deposits (note 6)   |  |               | 186,117     |             
|                                         |  | $             | 245,329     |             
|PROPERTY, PLANT AND EQUIPMENT            |  |               | 8,134       |             
|INTELLECTUAL PROPERTY                    |  |               | 1           |             
|                                         |  | $             | 253,464     |             
|                                         |  |               |             |             
|LIABILITIES                              |  |               |             |             
|CURRENT LIABILITIES                      |  |               |             |             
|Accounts payable and accrued liabilities |  | $             | 2,711,547   |             
|Promissory note payable (note 7)         |  |               | 1,111,089   |             
|Convertible term notes (note 4)          |  |               | 53,838      |             
|Loan from shareholders                   |  |               | 736,848     |             
|                                         |  | $             | 4,613,322   |             
|                                        
|STOCKHOLDERS DEFICIENCY                 |  |               |             |             
|CAPITAL STOCK                            |  |               | 133,762     |             
|COMMON STOCK SUBSCRIBED                  |  |               | 3,250,000   |             
|STOCK SUBSCRIPTIONS RECEIVABLE           |  |               | (3,250,000  | )           
|ADDITIONAL PAID  IN CAPITAL             |  |               | 15,507,276  |             
|ACCUMULATED OTHER COMPREHENSIVE LOSS     |  |               | (621,294    | )           
|ACCUMULATED DEFICIT                      |  |               | (19,379,602 | )           
|                                         |  | $             | (4,359,858  | )           
|                                         |  | $             | 253,464     |             

See Condensed Notes to Interim Unaudited Financial StatementsF1

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PERFISANS HOLDINGS, INC.Interim Consolidated Statements of Operationsfor the Three Months Ended September 30, 2007 and 2006(amounts expressed in US Dollars)(Unaudited)

|                                             |  | Three Months Ended
|-------------------------------------------- |  | ------------------
|                                             |  | September 30,     
|                                             |  | 2007              
|REVENUE                                      |  | $                 
|Cost and goods sold                          |  |                   
|GROSS PROFIT                                 |  | $                 
|                                            
|OPERATING EXPENSES                           |  |                   
|General and administration                   |  | $                 
|Interest                                     |  |                   
|Management salaries (note 8)                 |  |                   
|Amortization                                 |  |                   
|TOTAL OPERATING EXPENSES                     |  | $                 
|                                            
|OPERATING LOSS                               |  | $                 
|                                            
|Interest income and other income             |  |                   
|Beneficial Conversion Cost expensed (note 4) |  |                   
|Discount on warrants expensed (note 4)       |  |                   
|NET LOSS                                     |  | $                 
|                                            
|Loss per share, basic and diluted            |  | $                 
|                                            
|Weighted average shares outstanding          |  |                   

See Condensed Notes to Interim Unaudited Financial StatementsF2

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PERFISANS HOLDINGS, INC.Interim Consolidated Statements of Operationsfor the Nine Months Ended September 30, 2007 and 2006(amounts expressed in US Dollars)(Unaudited)

|                                             |  | Nine Months Ended
|-------------------------------------------- |  | -----------------
|                                             |  | September 30,    
|                                             |  | 2007             
|REVENUE                                      |  | $                
|Cost and goods sold                          |  |                  
|GROSS PROFIT                                 |  |                  
|                                            
|OPERATING EXPENSES                           |  |                  
|General and administration                   |  | $                
|Interest                                     |  |                  
|Management salaries                          |  |                  
|Amortization                                 |  |                  
|TOTAL OPERATING EXPENSES                     |  | $                
|                                            
|OPERATING LOSS                               |  | $                
|                                            
|Interest income                              |  |                  
|Beneficial Conversion Cost expensed (note 4) |  |                  
|Discount on warrants expensed (note 4)       |  |                  
|LOSS BEFORE INCOME TAX                       |  | $                
|Income tax                                   |  |                  
|NET LOSS                                     |  | $                
|                                            
|Loss per share, basic and diluted            |  | $                
|                                            
|Weighted average shares outstanding          |  |                  

See Condensed Notes to Interim Unaudited Financial StatementsF3

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PERFISANS HOLDINGS, INC.Interim Consolidated Statements of Cash Flowsfor the Nine Months Ended September 30, 2007 and 2006(amounts expressed in US Dollars)(Unaudited)

|                                                             |  | Nine Months Ended
|------------------------------------------------------------ |  | -----------------
|                                                             |  | September 30,    
|                                                             |  | 2007             
|CASH FLOWS FROM OPERATING ACTIVITIES                         |  |                  
|Net loss                                                     |  | $                
|Items not requiring an outlay of cash:                       |  |                  
|Amortization                                                 |  |                  
|Beneficial conversion cost expensed (note 4)                 |  |                  
|Discount on warrants expensed (note 4)                       |  |                  
|Stock-based compensation                                     |  |                  
|Issue of shares for professional services (note 6)           |  |                  
|Issue of shares in lieu of bonus to directors                |  |                  
|Decrease in accounts receivable                              |  |                  
|Increase in prepaid expenses and deposits**                  |  |                  
|Increase in accounts payable and accrued liabilities*        |  |                  
|Increase in deferred costs                                   |  |                  
|Interest accrued on loans                                    |  |                  
|NET CASH USED IN OPERATING ACTIVITES                         |  | $                
|                                                             |  |                  
|CASH FLOWS FROM FINANCING ACTIVITIES                         |  |                  
|Proceeds from loan from shareholders                         |  |                  
|Gross Proceeds from issue of convertible term notes (note 4) |  |                  
|NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES              |  | $                
|                                                            
|EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGES             |  | $                
|                                                            
|NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS         |  |                  
|FOR THE PERIOD                                               |  | $                
|Cash and cash equivalents, beginning of period               |  |                  
|CASH AND CASH EQUIVALENTS, END OF PERIOD                     |  | $                

|*  | Excludes non- cash settlement of liabilities by issue of common shares for $584,000.
|-- | ------------------------------------------------------------------------------------
|** | Excludes increase in prepaid expense due to issue of shares                         



See Condensed Notes to Interim Unaudited Financial StatementsF4

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PERFISANSHOLDINGS,INC.InterimConsolidatedStatementsofChangesinStockholdersDeficiencyfor the NineMonthsEndedSeptember30, 2007(Unaudited)and for the Year EndedDecember31, 2006(Audited)(amountsexpressedin USdollars)

|                                                        |  |             |   |        |   |            |   |            |   |           |  |      |   |               |  |               |   |             |   |  |   |            |   |  | Accumulated
|------------------------------------------------------- |  | ----------- | - | ------ | - | ---------- | - | ---------- | - | --------- |  | ---- | - | ------------- |  | ------------- | - | ----------- | - |  | - | ---------- | - |  | -----------
|                                                        |  | Common      |   | Common |   | Common     |   | Additional |   |           |  |      |   | Other         |  | Other        
|                                                        |  | Stock       |   | Stock  |   | Stock      |   | Paid-In    |   |           |  |      |   | Comprehensive |  | Comprehensive
|                                                        |  | Number of   |   | Amount |   | Subscribed |   | Capital    |   | Deficit   |  | Loss |   | Loss         
|                                                        |  | Shares      |   | $      |   | $          |   | $          |   | $         |  | $    |   | $            
|Balance at December 31, 2005                            |  | 43,305,847  |   |        | $ | 43,305     |   |            | $ | 3,250,000 |  |      | $ | 11,376,095    |  |               | $ | (14,217,656 | ) |  |   |            |   |  | $          
|Issue of shares on conversion of convertible notes      |  | 8,461,354   |   |        |   | 8,461      |   |            |   |           |  |      |   | 642,380       |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares for professional services               |  | 7,350,000   |   |        |   | 7,350      |   |            |   |           |  |      |   | 879,650       |  |               |   |             |   |  |   |            |   |  |            
|Cancellation of shares issued for professional services |  | (950,000    | ) |        |   | (950       | ) |            |   |           |  |      |   | 950           |  |               |   |             |   |  |   |            |   |  |            
|Stock-based compensation                                |  |             |   |        |   |            |   |            |   |           |  |      |   | 213,280       |  |               |   |             |   |  |   |            |   |  |            
|Foreign currency translation                            |  |             |   |        |   |            |   |            |   |           |  |      |   |               |  |               |   |             |   |  | $ | 10,433     |   |  |            
|Net loss for the year                                   |  |             |   |        |   |            |   |            |   |           |  |      |   |               |  |               |   | (2,959,014  | ) |  |   | (2,959,014 | ) |  |            
|Balance at December 31,2006 (Audited)                   |  | 58,167,201  |   |        | $ | 58,166     |   |            | $ | 3,250,000 |  |      | $ | 13,112,355    |  |               | $ | (17,176,670 | ) |  | $ | (2,948,581 | ) |  | $          
|Issue of shares on conversion of convertible notes      |  | 2,184,739   |   |        |   | 2,185      |   |            |   |           |  |      |   | 84,200        |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares in settlement of liabilities            |  | 9,405,000   |   |        |   | 9,405      |   |            |   |           |  |      |   | 384,595       |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares to directors in lieu of bonus           |  | 6,000,000   |   |        |   | 6,000      |   |            |   |           |  |      |   | 294,000       |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares for professional services               |  | 8,100,000   |   |        |   | 8,100      |   |            |   |           |  |      |   | 396,900       |  |               |   |             |   |  |   |            |   |  |            
|Beneficial conversion for notes                         |  |             |   |        |   |            |   |            |   |           |  |      |   | 50,000        |  |               |   |             |   |  |   |            |   |  |            
|Fair value of warrants issued                           |  |             |   |        |   |            |   |            |   |           |  |      |   | 12,789        |  |               |   |             |   |  |   |            |   |  |            
|Stock-based compensation                                |  |             |   |        |   |            |   |            |   |           |  |      |   | 106,640       |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares on conversion of convertible notes      |  | 13,755,833  |   |        |   | 13,756     |   |            |   |           |  |      |   | 222,626       |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares in settlement of liabilities            |  | 5,000,000   |   |        |   | 5,000      |   |            |   |           |  |      |   | 185,000       |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares to directors in lieu of bonus           |  | 6,000,000   |   |        |   | 6,000      |   |            |   |           |  |      |   | 114,000       |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares for professional services               |  | 10,405,917  |   |        |   | 10,406     |   |            |   |           |  |      |   | 200,822       |  |               |   |             |   |  |   |            |   |  |            
|Issue of shares in advance for services                 |  | 14,744,083  |   |        |   | 14,744     |   |            |   |           |  |      |   | 290,029       |  |               |   |             |   |  |   |            |   |  |            
|Stock based compensation                                |  |             |   |        |   |            |   |            |   |           |  |      |   | 53,320        |  |               |   |             |   |  |   |            |   |  |            
|Foreign currency translation                            |  |             |   |        |   |            |   |            |   |           |  |      |   |               |  |               |   |             |   |  |   | (299,538   | ) |  |            
|Net loss for the period                                 |  |             |   |        |   |            |   |            |   |           |  |      |   |               |  |               |   | (2,202,932  | ) |  |   | (1,615,794 | ) |  |            
|Balance at September 30, 2007 (Unaudited)               |  | 133,762,773 |   |        | $ | 133,762    |   |            | $ | 3,250,000 |  |      | $ | 15,507,276    |  |               | $ | (19,379,602 | ) |  | $ | (1,915,332 | ) |  | $          

SeeCondensedNotes toInterimUnauditedFinancialStatementsF5

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

1.           BASIS OF PRESENTATION

The accompanying unaudited interim consolidated financial statements do not include all the information and footnotes required by generally accepted accounting principles in the United States of America for complete
financial statements.  In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included in these consolidated interim financial statements. Operating results for
the interim periods are not necessarily indicative of the results that may be expected for the year ended December 31, 2007.  Interim consolidated financial statements should be read in conjunction with the companys annual audited consolidated
financial statements for the year ended December 31, 2006.

2.           GOING CONCERN AND NATURE OF OPERATIONS

a)           Going
      Concern Certain principal conditions
      and events are prevalent which indicate that there could be substantial
      doubt about the Companys ability to continue as a going concern for
      a reasonable period of time. These include: 1)Recurring
      operating losses 2)Stockholders
      deficiency 3)Working
      Capital deficiency 4)Non
      renewal of intellectual property licenses 5)Adverse
      key financial ratios 6)Delay
      in conversion of convertible debt The continuation of the company
      as a going concern is dependent upon its ability to raise additional financing
      and ultimately attain and maintain profitable operations. These consolidated
      financial statements include certain estimated adjustments relating to
      the recoverability and classification of recorded asset amounts and classification
      of liabilities resulting from the substantial doubt about the Companys
      ability to continue as a going concern b)           Nature
      of operations Perfisans Holdings, Inc. (the Company)
      is a technology development company. The principal activity of the Company
      is the design and development of integrated circuits for commercial purposes. The Company was previously in
      the development stage and commenced earning revenue during the first quarter
      of 2004. The Company has funded its operations to date mainly through the
      issuance of shares.


F-6

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

The Company released one product
      to the market in 2004. Due to funding restrictions, the Company has deferred
      the development of the Dual Channel Gigabit network interface chip and
      iSCSI storage chip. The Company has also revised the product development
      plan based on the market and the current funding and resources situation.
      These products are focused on the wired and wireless network interface
      semiconductor integrated circuits. Product 1  Gigabit Network
      interface chip. The Company released this network interface chip in the
      second quarter of 2004. The chip is being tested by the potential customers.
      A network interface card (NIC) is also produced using this Gigabit Network
      interface chip. In reaction to the market and
      current funding and resources situation, the Company is in the process
      of re-structuring. The Company has stopped the development of the Single
      Chip network interface chip and delayed the development of Wireless Network
      Processor due to the funding limitation and the reposition of corporate
      focus. The Company has revised the product
      development plan accordingly. Its products are focused on the network and
      consumer semiconductor integrated circuits. In addition to developing its
      own products, it also markets products from other semiconductor development
      companies under its own brand.


3.           CONTINGENCIES

On May 10, 2006, the company received an invoice of $47,681from Concord Idea for the fees that Concord Idea spent on the termination of the lease. Management had been negotiating with Concord Idea and no agreement had
been finalized and agreed to by both parties. The Company intented to settle the amont together with the existing promissory note the company has with Concord Idea. The arrangement is still under negotiation. In the absence of a definitive
settlement of this amount, the Company has accrued this expense of $47,681 in this quarter ended September 30, 2007.

The Company has been served with a Notice dated July 21, 2006 from a former employee and Investor of Griffin Industries (Prior to name change to Perfisans Holdings Inc.) for specific performance of the March 24, 1999
Rescission Agreement. The former employee is asking for replacement warrants equivalent in value to the price of stock on October 19, 1998 calculated at 150,000 shares priced at $3 per share for a total consideration of $450,000. The
management is evaluating the contents of this claim and no expense has been accrued in the financial statements.

4.           CONVERTIBLE TERM NOTES AND DETACHABLE STOCK WARRANTS

a)           On
      March 21, 2005, the Company entered into a Securities Purchase Agreement,
      dated as of March 21, 2005, by and among the Company and Alpha Capital
      (Alpha), Platinum Partners Value Arbitrage Fund LP (Platinum),
      Nite Capital, Ltd. (Nite) and Whalehaven Capital Fund Limited
      (Whalehaven). Alpha, Platinum, Nite and Whalehaven are collectively
      referred to as the Purchasers. The Company authorized the sale
      to the Purchasers of Convertible Term Notes (the Notes) in
      the aggregate principal amount of $1,200,000, with an over allotment
      option of $240,000. The offering was made pursuant to Section 4(2)
      of the Securities Act of 1933, as


F-7

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

amended. The Company received
      a total of $1,275,000 and retained the over allotment amount of $75,000.
      These Notes are convertible into common stock of the Company at a final
      price of $0.3375 per share. In connection with the offering, the Company
      issued an aggregate of 8,300,000 warrants to purchase common stock at prices
      ranging from $0.3375 to $2.00 per share. Of the warrants, 1,777,778
      are exercisable for a period of three years at $0.675 per share, 3,500,000
      are exercisable for a period of three years at $2.00 per share, 1,777,778
      are exercisable for a period of six months at $0.3375 per share, 888,888
      are exercisable for a period of six months at $0.675 per share and
      355,556 are exercisable for a period of three years at $0.54 per share.
      The proceeds of the offering will be used to fund acquisitions and for
      working capital. The company has allocated the
      proceeds between the warrants and debenture without warrants based on their
      relative fair values. Additional paid in capital has been credited with
      the value of warrants in the amount of $766,270 and convertible term
      notes have been allocated an amount of $508,730. The value of the beneficial
      conversion feature calculated at $1,208,889 is restricted to the fair
      value of the convertible term notes of $508,730 as per EITF 98-5. In
      accordance with Para 19 of EITF 00-27, this beneficial conversion amount
      of $508,730 and discount on warrants of $766,270 will be accreted
      from the date of issuance to the stated redemption date of the convertible
      instrument. Beginning on August 17, 2005
      (and continuing on the same day of each successive month thereafter), the
      Company must repay 1/13thof
      the face amount of each note issued, in cash or common stock, at the option
      of the Company (Monthly Amount). If the Company repays the
      monthly amount in cash, the holder has to be repaid an amount equal to
      110% of the Monthly Amount due and owing. If the Monthly Amount is repaid
      in shares of common stock, the Company is required to issue a number of
      shares of its common stock determined by dividing (x) the Monthly Amount
      to be converted into shares of common stock by (y) an amount equal to a
      25% discount to the volume weighted average price of its common stock for
      the ten (10) trading days immediately preceding the date the Monthly Amount
      is due. During the year ended December
      31, 2005 a total of $437,527 of the convertible term notes were converted
      into common stock by the note holders. The conversions were done at varying
      rates ranging from $0.090 to $0.3375 which resulted in the issue
      of an additional 2,420,646 of common shares. An additional 2,512 common
      shares were also issued in lieu of accrued interest. During the three month period
      ended March 31, 2006 a total of $132,538 of the convertible term notes
      were converted into common stock. The conversions were done at varied rates
      ranging from $0.087 to $0.110 per common share which resulted in
      the issue of 1,344,793 of common shares. During the three month period
      ended June 30, 2006 a total of $172,769 of the convertible term notes
      were converted into common stock. The conversions were done at varied rates
      ranging from $0.180 to $0.204 per common share which resulted in
      the issue of 914,504 of common shares. During the three month period
      ended September 30, 2006 a total of $172,769 of the convertible term
      notes were converted into common stock. The conversions were done at varied
      rates ranging


F-8

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

from $0.083 to $0.133
      per common share which resulted in the issue of 1,748,137 of common shares. During the three month period
      ended December 31, 2006 a total of $172,765 of the convertible term
      notes were converted into common stock. The conversions were done at varied
      rates ranging from $0.038 to $0.040 per common share which resulted
      in the issue of 4,453,920 of common shares. For the year ended December 31,
      2006 the beneficial conversion cost and the discount on warrants have been
      expensed in the amount of $114,182 and $171,986 respectively. During the three month period
      ended March 31, 2007 a total of $86,385 of the convertible term notes
      were converted into common stock. The conversions were done at rate of $0.04
      per common share which resulted in the issue of 2,184,739 of common shares. During the three month period
      ended June 30, 2007 a total of $86,383 of the convertible term notes
      were converted into common stock. The conversions were done at rate of $0.023
      per common share which resulted in the issue of 3,755,833 of common shares. As of September 30, 2007, the
      Convertible notes are reflected in the Balance Sheet as under: Convertible debt
      
      $
      1,275,000Less: Converted into common
          shares
      
      
      (1,261,137
      )Less: Unamortized beneficial
          conversion cost
      
      
      nilLess: Unamortized discount
          on warrants
      
      
      nilAs per Balance Sheet
      
      $
      13,863  b)           On March 21, 2007, the Company
      entered into a Securities Purchase Agreement, dated as of March 12, 2007,
      by and among the Company and Alfred Morgan Capital Ltd (AMC).
      The Company authorized the sale to AMC of Convertible Term Notes (the Notes)
      in the aggregate principal amount of $150,000. The offering was made
      pursuant to Section 4(2) of the Securities Act of 1933, as amended. These
      Notes are convertible into common stock of the Company at a final price
      of $0.10 per share or it will be equal to Seventy Five (75%) percent
      of the five-day average closing price for the five days preceding, but
      not including, the Closing Date whichever is the lowest. In connection
      with the offering, the Company issued an aggregate of 750,000 warrants
      to purchase common stock at price of $0.06 per share. These warrants
      are exercisable to March 14, 2009. The $150,000 principal amount of
      Notes is part of a contemplated private placement of up to $10,000,000.
      The proceeds of the offering will be used to fund acquisitions and for
      working capital. The company has allocated the
      proceeds between the warrants and debenture without warrants based on their
      relative fair values. Additional paid in capital has been credited with
      the value of warrants in the amount of $12,789 and convertible term
      notes has been allocated an amount of $137,211. The value of the beneficial
      conversion feature has been calculated at $50,000. In


F-9

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

accordance with Para 19 of EITF
      00-27, this beneficial conversion amount of $50,000 and discount on
      warrants of $12,789 will be accreted from the date of issuance to the
      stated redemption date of the convertible instrument. Beginning on September 12, 2007
      (and continuing on the same day of each successive month thereafter), the
      Company must repay 1/24thof
      the face amount of each note issued, in cash or common stock, at the option
      of the Company (Monthly Amount). If the Company repays the
      monthly amount in cash, the holder has to be repaid an amount equal to
      102% of the Monthly Amount due and owing. If the Monthly Amount is repaid
      in shares of common stock, the Company is required to issue a number of
      shares of its common stock determined by dividing (x) the Monthly Amount
      to be converted into shares of common stock by (y) an amount equal to a
      20% discount to the volume weighted average price of its common stock for
      the ten (10) trading days immediately preceding the date the Monthly Amount
      is due. During the three month period
      ended June 30, 2007 the entire $150,000 of the convertible term notes
      were converted into common stock. The conversions were done at rate of $0.015
      per common share which resulted in the issue of 10,000,000 of common shares.
      The balance lying in the beneficial conversion amount of $47,788 and
      discount on warrants of $12,223 was fully expensed in the second quarter
      ended June 30, 2007. As of September 30, 2007, the
      Convertible notes are reflected in the Balance Sheet as under: Convertible debt
      
      $
      150,000Less: Converted into common
          shares
      
      
      (150,000
      )Less: Unamortized beneficial
          conversion cost
      
      
      Less: Unamortized discount
          on warrants
      
      
      As per Balance Sheet
      
      
      Nil  c)           During the three months ended
      September 30, 2007 the Company authorized the sale to Alfred Morgan Capital
      AMC of Convertible Term Notes (the Notes) in the aggregate
      principal amount of $39,975. The offering was made pursuant to Section
      4(2) of the Securities Act of 1933, as amended. These Notes are convertible
      into common stock of the Company at a final price of $0.10 per share
      or it will be equal to Seventy Five (75%) percent of the five-day average
      closing price for the five days preceding, but not including, the Closing
      Date whichever is the lowest. The $39,975 principal amount of Notes
      is part of a contemplated private placement of up to $10,000,000. The
      proceeds of the offering will be used to fund acquisitions and for working
      capital. Beginning on the sixth month
      of the closing of each note (and continuing on the same day of each successive
      month thereafter), the Company must repay 1/24thof
      the face amount of each note issued, in cash or common stock, at the option
      of the Company (Monthly Amount). If the Company repays the
      monthly amount in cash, the holder has to be repaid an amount equal to
      102% of the Monthly Amount due and owing. If the Monthly Amount is repaid
      in shares of common stock, the Company is required to issue a number of
      shares of its common stock


F-10

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

determined by dividing (x) the
      Monthly Amount to be converted into shares of common stock by (y) an amount
      equal to a 20% discount to the volume weighted average price of its common
      stock for the ten (10) trading days immediately preceding the date the
      Monthly Amount is due. As of September 30, 2007, these
      Convertible notes are reflected in the Balance Sheet at $39,975.


5.           STOCK BASED COMPENSATION

In December 2004, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 123 (Revised 2004), Share-Based Payment (SFAS 123 (R)). SFAS 123 (R) requires companies
to recognize compensation cost for employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The Company adopted the provisions of SFAS 123 (R) on January 1, 2006.

Per SEC Staff Accounting Bulletin 107, Topic 14.F, Classification of Compensation Expense Associated with Share-Based Payment Arrangements stock based compensation expense is being presented in the same lines as
cash compensation paid. As such, stock based compensation is no longer presented separately.

As of September 30, 2007 there was $373,241 of unrecognized expense related to non-vested stock-based compensation arrangements granted. The financial statements for the nine months ended September 30, 2007 recognize
compensation cost for the portion of outstanding awards which have vested during the period. The stock-based compensation expense for the nine month period ended September 30, 2007 was $159,960.

No options were granted during the nine month period ended September 30, 2007 under the Companys stock-option plan.

6.           ISSUE AND CANCELLATION OF SHARES

Year ended December 31, 2006

During the three month period ended March 31, 2006 a total of $132,538 of the convertible term notes were converted into common stock. The conversions were done at varied rates ranging from $0.087 to $0.110 per
common share which resulted in the issue of 1,344,793 of common shares.

During the three month period ended March 31, 2006, the company issued 1,000,000 common shares to two consultants for professional services rendered. Out of these, 500,000 shares were issued @ $0.10 per common share and
balance 500,000 issued @ $0.15 per share.

During the three month period ended March 31, 2006, the company cancelled 950,000 common shares issued to two consultants during the third quarter of 2005. The cancellation of these shares was due to early termination of
the agreement.

F-11

---



PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

During the three month period ended June 30, 2006 a total of $172,769 of the convertible term notes were converted into common stock. The conversions were done at varied rates ranging from $0.180 to $0.204 per
common share which resulted in the issue of 914,504 of common shares.

During the three month period ended September 30, 2006 a total of $172,769 of the convertible term notes were converted into common stock. The conversions were done at varied rates ranging from $0.083 to $0.133
per common share which resulted in the issue of 1,748,137 of common shares.

During the three month period ended September 30, 2006 the company issued 2,000,000 common shares to a consultant for professional services. These shares were issued @$0.12 per share for services to be provided for the
six month period commencing July 1, 2006 and ending December 31, 2006. Out of the total compensation for consulting fee valued at $240,000, the company expensed $120,000 during the quarter ended September 30, 2006 and deferred the balance
cost of $120,000 which was expensed in the last quarter of 2006.

On October 6, 2006 the Company issued 4,350,000 common shares to various consultants for professional services valued @$0.12 per share, resulting in an expense of $522,000 as per the resolution as of August 23,
2006. The Company expensed to general and administration for $282,000 during the three month period ended September 30, 2006 and the balance of $240,000 was expensed in the last quarter of 2006.

During the three month period ended December 31, 2006 a total of $172,765 of the convertible term notes were converted into common stock. The conversions were done at varied rates ranging from $0.038 to $0.040
per common share which resulted in the issue of 4,453,920 of common shares.

Quarter ended March 31, 2007

On January 17, 2007 a total of $86,383 of the convertible term notes were converted into common stock. The conversions were done at $0.04 per common share which resulted in the issue of 2,184,739 of common shares.

The Company issued 7,625,000 common shares valued @$0.04 per common share to five consultants being consulting fee for services valued at $305,000 and accrued as of December 31, 2006. Four of these consultants whose
services were valued at $60,000 each, were each issued 1,500,000 common shares and one consultant whose services were valued at $65,000 was issued 1,625,000 common shares.

The Company issued 1,780,000 common shares to settle legal fee accrual for $89,000 as of December 31, 2006. The shares were valued at $0.04 per common share.

The Company authorized the issuance of 3,000,000 common shares each, to two directors as bonus. These shares were valued at $0.05 per common share. The Company expensed $300,000 to management salaries in first
quarter of 2007.

The Company authorized the issuance of 8,100,000 common shares to six consultants for services. These shares were valued at $0.05 per common share. The Company expensed consulting expense of $405,000.

F-12

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

Quarter ended June 30, 2007

On June 19, 2007 a total of $86,383 of the convertible term notes were converted into common stock. The conversions were done at $0.023 per common share which resulted in the issue of 3,755,833 of common shares.

On May 24, 2007 a total of $150,000 of the convertible term notes were converted into common stock. The conversions were done at $0.015 per common share which resulted in the issue of 10,000,000 of common shares.

On May 24, 2007 the Company authorized the issuance of 1,500,000 common shares to settle legal fee accrual for $30,000 as of March 31, 2007. The shares were valued at $0.02 per common share.

On May 24, 2007 the Company authorized the issuance of 3,000,000 common shares valued @$0.05 per common share to one consultants being consulting fee for services valued at $150,000 and accrued as of March 31,
2007.

On May 24, 2007 the Company authorized the issuance of 600,000 common shares valued @$0.02 per common share for payment of rent for the six month period of February 2007 to July, 2007 at $2,000 per month. The sum of
$2,000 is reflected as prepaid expenses and deposits.

On May 24, 2007 the Company authorized the issuance of 3,000,000 common shares each, to two directors as bonus. These shares were valued at $0.02 per common share. The Company expensed $120,000 to management
salaries in second quarter of 2007.

On May 24, 2007 the Company authorized the issuance of 3,000,000 common shares valued @$0.02 per common share to one consultant for management of its office in Taiwan.

On May 24, 2007 The Company authorized the issuance of 13,500,000 common shares to four consultants for services. These shares were valued at $0.02 per common share and covered the period of six months commencing May
13, 2007. The Company expensed consulting expense of $71,901 and reflected the balance of $198,099 in prepaid expenses and deposits.

On May 24, 2007 The Company authorized the issuance of 3,250,000 common shares to two consultants for services. These shares were valued at $0.02 per common share and covered the period of three months commencing May 1,
2007. The Company expensed consulting expense of $43,333 and reflected the balance of $21,667 in prepaid expenses and deposits.

On May 24, 2007 The Company authorized the issuance of 4,000,000 common shares to two consultants for services. These shares were valued at $0.02 per common share and covered the period of six months commencing May 1,
2007. The Company expensed consulting expense of $26,667 and reflected the balance of $53,333 in prepaid expenses and deposits.

On May 24, 2007 The Company authorized the issuance of 1,300,000 common shares to a consultant for services. These shares were valued at $0.03 per common share and covered the period of six months

F-13

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

commencing May 18, 2007. The Company expensed consulting expense of $9,015 and reflected the balance of $28,685 in prepaid expenses and deposits.

Quarter ended September 30, 2007

The Company did not issue any common shares during the quarter ended September 30, 2007.

7.           PROMISSORY NOTE PAYABLE

Promissory note in the amount of $1,111,089 bears interest at 3% per month, with principal and interest payable at December 31, 2005. Management and the note holder have agreed on a new term of 2% per month (prior 3%
per month) with a monthly pay down of CAD $2,000 starting from January 1, 2007.

8.           MANAGEMENT SALARIES

Includes the cost of issuance of a total of 12,000,000 common shares to two directors, being 6,000,000 common shares each, as bonus. Out of these, 6,000,000 common shares issued in the first quarter ended March 31, 2007
were valued at $0.05 per common share and 6,000,000 common shares issued in the second quarter ended June 31, 2007 were valued at $0.02 per common share. The Company expensed $300,000 and 120,000 to management salaries in first and
second quarter of 2007 respectively.

9.           LETTER OF INTENT

On April 24, 2006, the Company entered into a non binding Letter of Intent with Zhejiang Fibersense Communication Technology Company Limited (Zhejiang Fibersense) to enter into a definitive agreement with the
shareholders of Perfisans pursuant to which Perfisans will acquire from Zhejiang Fibersense shareholders 100% of the issued and outstanding share capital of Zhejiang Fibersense in exchange for the issuance of Perfisans common shares in an amount to
be determined. The Company cancelled the non binding agreement in the second quarter of 2007.

10.         AMENDMENTS
TO THE ARTICLES OF INCORPORATION

On September 21, 2007, the Board of Directors of the Company and the Stockholders of the Company holding a majority of the outstanding shares of Common Stock of the Company approved amendments to the Articles of
Incorporation:

| | a) | To amend the Articles of Incorporation of the Company to change the Companys name from Perfisans Holdings, Inc to Aspire Group, Inc.                                                                     
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | b) | To effect a Twenty-Five (25) to One (1) reverse stock split, whereby, as of the Record Date, for every twenty-five shares of Common Stock then owned, each stockholder will receive one share of Common
Stock.

The actions to be taken pursuant to the written consent
has been taken on November 7, 2007. These are however subject to the
final approval from NASDAQ and shall be effective thereafter.

F-14

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PERFISANS HOLDINGS, INC.Condensed Notes to Interim Consolidated Financial StatementsSeptember 30, 2007(Unaudited)

11.         MEMORANDUM
      OF UNDERSTANDING

The Company has signed a Memorandum
    of Understanding (MOU) with Tiffany Technology Limited (TTL), a company doing business in Hong Kong to complete a share exchange transaction pursuant to which the Company will
  acquire all of the issued and outstanding common stock of TTL in exchange for shares of the Companys
  common stock.

12.        SUBSEQUENT
EVENTS

a) On October 3, 2007, the Company
    authorized the sale to Alfred Morgan Capital AMC of Convertible Term Notes
    (the Notes)
    in the aggregate principal amount of $90,000. The offering was
	made pursuant to Section 4(2) of the Securities Act of 1933, as amended.
    These Notes are convertible into common stock of the Company at a final price
    of $0.10 per share or it will be equal to Seventy Five (75%) percent of
    the five-day average closing price for the five days preceding, but not including,
	the Closing Date whichever is the lowest. The $90,000 principal amount of
    Notes is part of a contemplated private placement of up to $10,000,000. The
    proceeds of the offering will be used to fund acquisitions and for working
    capital.

b) On October 30, 2007, AMC has requested the conversion of the $110,000 principal amount of
Notes into restricted shares. The conversion was done on October 30, 2007 with conversion price at
$0.0185 per share with 25% discount to the market price of the share that was 0.0247 as of that date,
which amount to 5,940,327 shares.





F-15

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ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS AND PLAN OF OPERATIONS

Forward-Looking Statements

The following discussion and analysis should be read in conjunction with the financial statements and notes appearing elsewhere in this Quarterly Report on Form 10-QSB.

This filing contains forward-looking statements. The words anticipated, believe, expect, plan, intend, seek, estimate, project,
could, may and similar expressions are intended to identify forward-looking statements. These statements include, among others, information regarding future operations, future capital expenditures, and future net cash flow.
Such statements reflect managements current views with respect to future events and financial performance and involve risks and uncertainties, including, without limitation, general economic and business conditions, changes in foreign,
political, social, and economic conditions, regulatory initiatives and compliance with governmental regulations, the ability to achieve further market penetration and additional customers, and various other matters, many of which are beyond the
Companys control. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove to be incorrect, actual results may vary materially and adversely from those anticipated, believed, estimated or otherwise
indicated. Consequently, all of the forward-looking statements made in this filing are qualified by these cautionary statements and there can be no assurance of the actual results or developments.

Overview

Perfisans Holdings, Inc., (we, us, our or the Company) a Maryland corporation formerly known as Griffin Industries, Inc., acquired 100% of the capital stock of Perfisans
Networks Corporation, an Ontario corporation on December 19, 2003.

This transaction was accounted for as a reverse acquisition. After the acquisition, we changed our name to Perfisans Holdings, Inc.

Because we have not generated sufficient revenue to date, we have prepared our financial statements with the assumption that there is substantial doubt that we can continue as a going concern. Our ability to continue as a
going concern is dependent on our ability to affect our Plan of Operations.

Plan of Operations

We were incorporated in Maryland on October 14, 1997, to be a venture capital vehicle for investors. As such, we were qualified as a business development company under the Investment Company Act of 1940 and voluntarily
complied with the Securities and Exchange Commissions public reporting requirements. As a business development company, we were eligible to make investments in qualifying companies and would have earned returns, if any, upon the sale of those
investments.

In the summer of 1998, we terminated our status as a business development company, and regulation under the Investment Company Act of 1940, due to our intention to acquire 100% of the assets or shares of heavy construction
equipment companies.

Due to a downturn in the private and public capital markets in late 1998 and early 1999, and in particular in the valuations of heavy construction equipment companies, we abandoned the acquisition plan and

2

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after conducting extensive research, our board of directors decided to pursue a business plan that called for the acquisition of companies that provide services via the Internet.

Since 2000, we have explored a variety of potential business opportunities and did not actively conduct significant operations while complying with SEC reporting requirements in order to maintain our status as a public
company until a suitable acquisition candidate was found.

Consequently, after devoting years in various attempts to develop a profitable, ongoing business, and without realistic sources of additional financing in sight, our former management was receptive when approached by
representatives of Perfisans Networks concerning a possible business combination. Subsequent discussions led to the execution of the Acquisition Agreement entered into by the Company in December 2003.

Today, the Company through its wholly owned subsidiary Perfisans Networks Corporation, an Ontario corporation, is engaged in development of integrated circuits that will accelerate the network protocol processing.

We have completed the design of a single port gigabit network interface controller ENA1001 and released the product to the market.  The company has also commenced meeting prospective customers with samples of this
product.

We have also completed the design of a single port gigabit network interface adapter card ENA5031 using our single port gigabit network interface controller ENA1001. This adapter serves two purposes. One is as the
demonstration vehicle for the ENA1001 controller. We will also sell this single port gigabit network interface adapter card ENA5031 to the computer system integrators.

In reaction to the market and current funding and resources situation, the Company is in the process of restructuring. Since our vendors and customers are in Asia, more focus has been put on the China and Taiwan operations.
In July 2005, resources were reallocated from the Canadian operation to China and Taiwan. This move has resulted in lower operating costs. In response to the restructuring, the Company has moved to a smaller premises beginning November of 2005. In
July of 2007, the company has moved the sales office to Shenzhen, China and also move the management to a smaller executive office.

Due to these changes, we have revised the product development plan accordingly. The Company products are focused on the network and consumer semiconductor integrated circuits. In addition to developing our own products, we
also market products from other semiconductor development companies under our own brand. We have stopped the development of the SNA1000, SNA1002 network Accelerator and SNA 3010 iSCSI Accelerator semiconductor devices due to the funding limitation
and the repositioning of corporate focus.

Along with Canada, Taiwan and China are key regions for us to penetrate to implement our plan of operation. Manufacturers Agents (known as reps) and Distributors (known as distis) will be contracted
to market and sell Perfisans chips. A disti buys, resells and maintains local inventories of the computer chips that the Company will provide. The disti is responsible for the costs of selling to customers, accounts receivables, collections
and the maintenance of local inventories, that otherwise would fall on Perfisans. A rep earns commissions on the sales of Perfisans chips. A rep is a separate, arms length company that negates or minimizes the need for Perfisans to staff its
own field sales force, thereby minimizing Perfisans cost of sales. In some cases, the rep and disti will be one and the same company capable of acting in either rep or disti capacity according to local market needs. As a rep, the rep earns
commissions on sales of our chips. As a disti, it buys and resells our chips and maintains local inventories. The current industry trend is for reps and distis to be combined in one company.

3

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Our sales costs are:

| | 1. | Travel costs by the sales people to the market areas at intervals dictated by sales activity and priorities;                     
| | -- | ---------------------------------------------------------------------------------------------------------------------------------
|
| | 2. | The commission that has to be paid for the reps which will be pegged at 10% to 15% of the selling price; and                     
|
| | 3. | The costs of locally based support staffs as determined by the needs of penetrating and maintaining specific strategic customers.

We have signed up distributors in Canada, the US and China. In addition, we have identified Taiwan and China as key regions and will continue to search for appropriate additional candidates for the distribution of our
products in these two geographical areas. Our Marketing and Product Development teams have collaborated on the planning of our new product roadmap, and sales and business development activities will be synchronized with the product introduction
plans.

Despite having limited revenue since inception, we believe that our management has developed a business plan that, if successfully implemented, could substantially improve the Companys operational results and
financial conditions. The adequacy of cash resources over the next twelve months is primarily dependent on our operating results and our ability to obtain sufficient proceeds from the sales of securities. The projected cash requirement for the next
twelve months will be $5 million.

We have an agreement with SBI and Westmoreland for a $4 million funding. Seven hundred and fifty thousand dollars has been received by the company from SBI and Westmoreland. SBI and Westmoreland have signed promissory
notes on the balance that has not yet been received. The Company believes that the possibility of getting the remaining fund is low. The Company is planning to write off the amount if funds are not received in the near future.

We had executed convertible debenture agreements totaling $1.2 million as at March 21, 2005. Details of the agreement can be obtained through the 8K previously filed by the Company with the SEC. We will have to secure
the anticipated requisite remainder of funding through other means, such as sales of additional securities or other financing initiatives. We started to re-pay each month the principle of these convertible notes from August 17, 2005. The payments
are done by issuing stocks.

On March 21, 2007, we entered into a Securities Purchase Agreement dated as of March 12, 2007, by and among Perfisans Holdings, Inc., and Alfred Morgan Capital Ltd (AMC). Under the Agreement, the Company
authorized the sale to AMC of a Convertible Term Note (the Notes) in the principal amount of One Hundred Fifty Thousand ($150,000). The offering was made pursuant to Section 4(2) of the Securities Act of 1933, as amended. The Notes
are convertible into common stock of the Company as set forth in the Securities Purchase Agreement filed as Exhibit 99.2.  In connection with the offering, the Company issued an aggregate of 750,000 warrants to purchase common stock. The
$150,000 principal amount of Notes is part of a contemplated private placement of up to $10,000,000. The proceeds of the offering will be used to fund acquisitions and for working capital.

In September, 2007, the Company has received more money for the same Convertible Term Note (the Notes) in the principal amount of Forty Thousand ($40,000).

In May, 2007, AMC has requested the conversion of the $150,000 principal amount of Notes into restricted shares. The conversion was done on June 19, 2007 with conversion price at $0.02 per share with 25% discount
which amount to 10,000,000 shares.

4

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In October, 2007, the Company has received more money for the same Convertible Term Note (the Notes) in the principal amount of Ninety Thousand ($90,000)

In October, 2007, AMC has requested the conversion of the $110,000 principal amount of Notes into
restricted shares. The conversion was done on October 30, 2007 with conversion price at $0.0185 per share with 25% discount to the market
 price of the share that was 0.0247 as of that date, which amount to 5,940,327 shares.

The conversions of the Notes are subject to an effective Registration Statement. The net proceeds of the financing are to be utilized for general working capital.

We have hired contractors and consultants working for the company in Taiwan and China as of to date. We plan to hire additional contractors in the area of engineering, sales and marketing.

We have appointed three corporate advisors in San Jose, California for corporate development. We have leased an office space in San Jose, California since January, 2007. We also plan to hire some contractors in the area of
business development and marketing.

As a moving forward plan, we are seeking for some merge and acquisition targets. We also have strategic planning of spinning off the Intellectual Property (IP) of the company into a IP licensing company.

We have explored business opportunities in marketing and sales of products that are not produced by us. We believe such opportunities can bring in revenue and profit. However the plan of the company is to develop a
marketing strategy for its own internally developed chips.

On May 8, 2007 the board has passed a resolution and decided to terminate the previous non-binding Letter of intent with Zhejiang Fibersense Communication Technology Company Limited signed April 24, 2006.  We have signed a
Memorandum of Understanding (MOU) with Tiffany Technology Limited (TTL), a company doing business in Hong Kong to complete a share exchange transaction pursuant to which the Company acquires all of the issued and outstanding common stock
of TTL in exchange for shares of the Companys common stock. Tiffany Technology Limited (TTL), a Hong Kong corporation founded in August 2005, is an electronics product channel distribution company focused on sales and marketing of the
fashionable consumer electronics products, and delivers high quality services to the customers in mainland China and Asia Pacific region. We expect to complete this Acquisition in fourth quarter of 2007.

We have leased an office space in Shenzhen, China since July, 2007.  We also plan to hire some contractors in China for business development, sales and marketing activities.

Results of Operation for Perfisans Holdings, Inc.

We have reported revenues of $362,122 (Prior period $nil)) during this nine month period ended September 30, 2007. We are currently working on marketing our two products ENA1001 and ENA5031 to the potential
customers.

Total operating expenses increased for the nine-month period ending September 30, 2007, from $1,571,430 to $2,147,748 from the corresponding prior year period. This increase was primarily due to the increase in
management compensation and consultant costs included, as well as general and administrative expenses.

General and Administration fees increased for the nine-month period ended September 30, 2007, from $1,050,841 to $1,224,501 or 17% from the corresponding prior year period, primarily as a result of increase in
consultant fees.

Promissory note in the amount of $1,111,089 bears interest at 2% per month, with principal and interest payable at December 31, 2005. Management and the note holder have agreed on a new term of 2% per month (prior 3%
per month) with a monthly pay down of CAD2,000 starting from January 1, 2007. The Management and note holder is in the process of finalizing the new agreement.

5

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Liquidity and Capital Resources

For the nine months ended September 30, 2007, net cash used in operating activities amounted to $92,216, as compared to $85,934 for the same period in the prior year.

In March 2004, we borrowed $250,000 from an unaffiliated lender. The loan bears interest at 2% per month and was payable on July 3, 2004 or upon our receipt of at least $4,000,000 of proceeds from the sale of stock.
In October 30, 2004 we increased the borrowed amount from the same lender to $392,208 which bears an interest at 3% per month. Promissory note in the total amount of $1,111,089bears interest at 3% per month, with principal and interest payable at December 31, 2005. Management and the note holder have agreed on a new term of 2% per month (prior 3% per month) with a monthly pay down of CAD2,000 starting from
January 1, 2007. We intend to repay such loans out of proceeds from the sale of stock.

At September 30, 2007, we had no material commitments for capital expenditures other than for those expenditures incurred in the ordinary course of business. Additional capital could be required in excess of our liquidity,
requiring us to raise additional capital through an equity offering or secured or unsecured debt financing. The availability of additional capital resources will depend on prevailing market conditions, interest rates, and our existing financial
position and results of operations.

Off-Balance Sheet Arrangements

None.

Contractual Obligations and Commercial Commitments

Contractual obligations as of September 30, 2007 are as follows:

Payments Due by End of Period

|Contractual Obligations |  |  | Total      |  | Less than 1 year |            | After
    1-3 years |  | 3-5 years |        
|----------------------- |  |  | ---------- |  | ---------------- | ---------- | ------------------- |  | --------- | -------
|Building leases         |  |  | $42,138    |  |                  | $4,682     |                     |  |           | $37,456
|Equipment leases        |  |  |           |  |                  |           |                     |  |           |       
|Convertible Term Note   |  |  | $53,838    |  |                  | $53,838    |                     |  |           |       
|Promissory note         |  |  | $1,111,089 |  |                  | $1,111,089 |                     |  |           |       
|Total                   |  |  | $1,207,065 |  |                  | $1,169,609 |                     |  |           | $37,456

Recent Accounting Pronouncements

In July 2006, the FASB issued Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48). FIN 48 clarifies the accounting for uncertainty in income taxes recognized in an
enterprises financial statements in accordance with SFAS No. 109, Accounting for Income Taxes.  FIN 48 prescribes a recognition threshold and measurement attributable for the financial statement recognition and measurement of a tax
position taken or expected to be taken in a tax return. FIN 48 also provides guidance on derecognizing, classification, interest and penalties, accounting in interim periods, disclosures and transitions. FIN 48 is effective for fiscal years
beginning after December 15, 2006. The

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Company is currently reviewing the effect, if any, FIN 48 will have on its financial position and operations.

In September 2006, the FASB issued SFAS No. 157, Fair Value Measures (SFAS No. 157). SFAS No. 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting
principles (GAAP), expands disclosures about fair value measurements, and applies under other accounting pronouncements that require or permit fair value measurements. SFAS No. 157 does not require any new fair value measurements;
however, the FASB anticipates that for some entities, the application of SFAS No. 157 will change current practice.  SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007, which for the Company
would be its fiscal year beginning January 1, 2008. The implementation of SFAS No. 157 is not expected to have a material impact on the Companys results of operations and financial condition.

In September 2006, the Financial Accounting Standards Board (FASB) issued SFAS No. 158, Employers Accounting for Defined Benefit Pension and Other Postretirement Plans - an amendment of FASB
Statements No. 87, 88, 106, and 132(R).  This statement requires employers to recognize the overfunded or underfunded status of a defined benefit postretirement plan (other than a multiemployer plan) as an asset or liability in its statement
of financial position and to recognize changes in that funded status in the year in which the changes occur through comprehensive income of a business entity or changes in unrestricted net assets of a not-for-profit organization.  This statement
also requires an employer to measure the funded status of a plan as of the date of its year-end statement of financial position, with limited exceptions.  The provisions of SFAS No. 158 are effective for employers with publicly traded equity
securities as of the end of the fiscal year ending after December 15, 2006. The adoption of this statement is not expected to have a material effect on the Companys future reported financial position or results of operations. In September
2006, the Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin No. 108 (Topic 1N), Quantifying Misstatements in Current Year Financial Statements (SAB No. 108).  SAB No. 108 addresses how the
effect of prior year uncorrected misstatements should be considered when quantifying misstatements in current year financial statements.  SAB No. 108 requires SEC registrants (i) to quantify misstatements using a combined approach which considers
both the balance sheet and income statement approaches; (ii) to evaluate whether either approach results in quantifying an error that is material in light of relevant quantitative and qualitative factors; and (iii) to adjust their financial
statements if the new combined approach results in a conclusion that an error is material. SAB No. 108 addresses the mechanics of correcting misstatements that include effects from prior years. It indicates that the current year correction of a
material error that includes prior year effects may result in the need to correct prior year financial statements even if the misstatement in the prior year or years is considered immaterial.  Any prior year financial statements found to be
materially misstated in years subsequent to the issuance of SAB No. 108 would be restated in accordance with SFAS No. 154, Accounting Changes and Error Corrections. Because the combined approach represents a change in practice, the SEC
staff will not require registrants that followed an acceptable approach in the past to restate prior years historical financial statements.  Rather, these registrants can report the cumulative effect of adopting the new approach as an
adjustment to the current years beginning balance of retained earnings. If the new approach is adopted in a quarter other than the first quarter, financial statements for prior interim periods within the year of adoption may need to be
restated.  SAB No. 108 is effective for fiscal years ending after November 15, 2006, which for the Company would be its fiscal year beginning January 1, 2007. The implementation of SAB No. 108 is not expected to have a material impact on the
Companys results of operations and financial condition.

In February 2007, the FASB issued SFAS No. 159 (SFAS 159) - the fair value option for financial assets and liabilities including in amendment of SFAS 115. This Statement permits entities to choose to measure
many financial instruments and certain other items at fair value. The objective is to improve financial reporting by providing entities with the opportunity to mitigate volatility in reported earnings

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caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. This Statement is expected to expand the use of fair value measurement objectives for accounting
for financial instruments. This Statement is effective as of the beginning of an entitys first fiscal year that begins after November 15, 2007, and interim periods within those fiscal years. Early adoption is permitted as of the beginning of a
fiscal year that begins on or before November 15, 2007, provided the entity also elects to apply the provisions of FASB Statement No. 157, Fair value measurements. The Company is currently evaluating the impact of SFAS No. 159 on its consolidated
financial statement.

Critical Accounting Policies

The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires us 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 during the reporting period. We regularly evaluate our estimates and assumptions based upon
historical experience and various other factors that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from
other sources. To the extent actual results differ from those estimates, our future results of operations may be affected. We believe the following critical accounting policies affect the more significant judgments and estimates used in the
preparation of our consolidated financial statements.

Allowance for Doubtful Accounts

We maintain allowances for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. If the financial condition of our customers were to deteriorate, our actual losses
may exceed our estimates, and additional allowances would be required.

Software Development Costs

Development costs related to software products are expensed as incurred until technological feasibility of the product has been established. Based on our product development process, technological feasibility is established
upon completion of a working model.  Costs incurred by us, between completion of the working model and the point at which the product is ready for general release, have not been significant. Accordingly, no costs have been capitalized to date.

ITEM 3.           CONTROLS AND PROCEDURES

Our Chief Executive Officer and Principal Accounting Officer has evaluated as of the last day of the period covered by this report, the effectiveness of the design and operation of our disclosure controls and procedures (as
defined in Rule 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934). This evaluation was carried out under the supervision and with the participation of our management, including our principal executive officer and principal accounting
officer. Based on this evaluation, this officer has concluded that the design and operation of our disclosure controls and procedures are effective.

There were no changes in the Companys internal control over financial reporting (as defined in Rule 13a-15 or Rule 15d-15 under the Securities Exchange Act of 1934) during the quarter ended June 30, 2007 that has
materially affected, or is reasonably likely to materially affect, the Companys internal control over financial reporting.

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PART II  OTHER INFORMATION

ITEM 1.           LEGAL PROCEEDINGS

None.

ITEM 2.           UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3.           DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

On September 21, 2007, stockholders holding a majority of the Companys common stock approved a 25-1 reverse stock split (the Reverse Split) of the companys common stock then issued and outstanding.
Such Reverse Split is set to take effect on or around November 7, 2007.

ITEM 5.           OTHER INFORMATION

There were no matters required to be disclosed in a Current Report on Form 8-K during the fiscal quarter covered by this report that were not so disclosed.

There were no changes to the procedures by which security holders may recommend nominees to the Companys Board of Directors since Company last disclosed these procedures.

ITEM 6.           EXHIBITS

|Exhibit |                                                                                                                                                                                      
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Number  | Exhibit                                                                                                                                                                              
|       
|31.1    | Certification of Chief Executive Officer and Principal Accounting Officer, pursuant to Rule 13a - 14(a).*                                                                            
|       
|32.1    | Certification of Chief Executive Officer and Principal Accounting Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*

*      Filed herewith

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SIGNATURES

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



|Date:   November 13, 2007 |  | PERFISANS HOLDINGS, INC.
|------------------------- |  | ------------------------
|                         
|                         
|                         
|                          |  | By:                     
|                          |  |                         
|                          |  |                         

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