10-Q




Commission
      File Number: 0-9773





TASA
      PRODUCTS LIMITED


(Exact
      name of registrant as specified in it's charter)





Washington
            
            91-1121874(State
                or other Jurisdiction of incorporation or organization)
            
            (IRS
                Employer ID No.)





14508
      SE
      51st, Bellevue, WA 98006


(Address
      and zip code of principal executive offices)





Registrant's
      telephone number, including area code: (425) 746-6761







Indicate
      by check mark whether the registrant (1) has filed all reports required to
      be
      filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
      the
      preceding 12 months (or for such shorter period that the registrant was required
      to file such reports), and (2) has been subject to such filing requirements
      for
      the past 90 days.




Yes 
                 x
            No 
                  ̈







DOCUMENTS
      INCORPORATED BY REFERENCE





Form
      S-1,
      TASA Products Limited, Commission File No. 0-9773, but excluding the balance
      sheet of TASA Products Limited together with the report of independent certified
      public accountants, is incorporated by reference.












PART
      I -
      FINANCIAL INFORMATION




Item
                1:
            Financial
                Statements





See
      Appendix A




Item
                2:
            Management's
                Discussion and Analysis of the Financial Condition and Results of
                Operations





The
      partnership originally licensed the manufacturing and sale of its products
      to
      Communications Research Corporation, (CRC) a subsidiary of Energy Sciences
      Corporation, (ESC).  ESC and the Partnership entered Chapter 11
      bankruptcy proceedings on April 29, 1986.  On May 13, 1988, ESC's
      bankruptcy was dismissed and all remaining assets, primarily amounts owed to
      ESC
      by the partnerships and the rights to produce electronic products at CRC, were
      repossessed by the sole secured creditor of ESC, Mr. Thomas Murphy. A new
      company was formed in September 1988, called LINC Technology Corporation. The
      company ownership was restructured recently and is now owned by Messrs. Maes
      and  Steffey in the amount of 41% each; the balance of 18% onwership
      is held by Mr. Murphy's heirs, Mr. Nichols, a founder, and by outside investors.
      Mr. Nichols resigned from LINC in August 1991, but remains a
      stockholder.  LINC has been initially privately financed with $49,000
      of cash to pursue a variety of opportunities in electronics and data
      communications. LINC believes that a market remains for some of the
      partnerships' products. Initial emphasis is on LCM and DOVE.  A
      license has been entered into between the partnership and LINC, similar in
      terms
      to that which existed with CRC, with the exception that in return for
      elimination of most of the debt owed by the partnerships to ESC, (and now,
      therefore, Mr. Murphy), and in recognition of the need to attract more capital
      for LINC, the royalty to be paid the partnerships is set at 5% of gross sales,
      (compared to the prior formula, ranging from 10% down to 6%).  The new
      royalty is divided between partnerships in the case of joint ownership of
      rights, such as the case with DOVE, for example.  All royalties were
      deferred for three years from September 1988 in order to allow LINC to build
      its
      working capital.  Starting in September 1991, royalties are 1% of
      gross sales for twelve months, 3% of gross sales for the next twelve months
      and
      5% thereafter.









In
      1995,
      a new royalty agreement was put into effect in order to reduce administrative
      expenses.  Under the new plan, no royalties will accrue to the
      partnership until a total of $300,000.00 of sales on products licensed to LINC
      Technology Corporation have been generated and collected.  At that
      point, a lump sum royalty payment of $15,000.00 will be paid to the patrnership
      group of TASA Products Limited (the Partnership), Energy Sciences Limited
      Partnership, Telemetric Controls Limited Partnership, and Communications Link
      Limited Partnership. After such payment, again no royalty will accrue or be
      owed
      until another $300,000.00 in sales has occured, after which a second lump sum
      of
      $15,000.00 is due, and so forth. LINC Technology Corporation will be responsible
      for periodic mailings to the partnership at its expense.  Bases on IRS
      regulations, no partnership 1065 tax returns and K-1s will have to be filed
      or
      issued until the royalty accrues.  Royalties of $12,118 were paid to
      the Partnership in December 1999 and a total disbursement of $10,906 was made
      to
      the limited partners in February 2000.  $1,212 was paid to historical
      creditors of the partnership.  The general partners did not receive
      any payments from the partnership.





As
      described above, in 1995, the General Partners put in place an arrangement
      under
      which royalties would not be payable to the partnerships and profit would not
      accrue until a total of $300,000 in sales had occured.  In 2003, as
      the amount of sales was approaching $300,000 again, the General Partners
      reviewed the costs associated with preparing the partnership tax returns (Form
      1065) and the preparation and mailing of both the K-1s and distribution
      checks.  Based on our experience in 2000, the General Partners
      estimated the cost to be approximately $5000.00.  In addition, the
      General Partners heard from many Limited Partners that the trouble involved
      in
      providing the tax information to their accountants was not worth the money
      that
      they received.  The General Partners therefore increased the level of
      sales required before a royalty payment is due from $300,000 to $600,000, which
      would result in a royalty payment totalling $30,000, instead of $15,000 to
      be
      divided among all individual limited partners, the amount will be
      $30,000.  As a result, a smaller percentage of the royalty would go to
      tax form and check preparation costs.  As a result of this new
      arrangement, no royalties accrued in this fiscal period.







Only
      a
      small portion of the LINC Technology Corporation's sales were for products
      which
      the Partnership licenses to LINC Technology Corporation. Accounting of the
      amount of sales on products subject to partnership royalty will not be done
      until the end of the calender year.





LINC
      filed a registration statement with the State of Washington, under the ULOR
      provision, for sale of up to $450,000 worth of its common stock, which became
      effective May 9, 1989.  No stock was sold under the offering and it
      was withdrawn on May 10, 1990.  Thus far LINC has supported its growth
      from its own cash flow.





LINC
      Technology Corporation's address is 3535 Factoria Blvd. S.E., Bellevue, WA
      98006
      and telephone 425-882-2206.  Modest sales of the partnership's
      products continue to be made but are still irregular quarter to
      quarter.  The company concentrates on industrial data
      communications.  There can be no guarantee that LINC will be
      successful, or that sufficient sales of the partnership's products will result
      so that any significant royalties will be paid to the partnership.  No
      royalties or expenses were accrued by or paid to the partnership in the quarter
      ending 6-30-07.





PART
      II -
      OTHER INFORMATION





Item
      1:
      Legal Proceedings





The
      staff
      of the Securities and Exchange Commission's Division of Enforcement recommended
      to the Commission that it authorize the staff to file a civil injunction action
      against the Partnership and Messrs. Maes and Steffey to require timely filing
      of
      reports with the commission.  Such an injunction was entered on June
      25, 1986.All subsequent reports have been timely filed.





On
      October 16, 1989 the U.S. Bankruptcy Court ordered the conversion of the
      partnership's Chapter 11 to a Chapter 7.  On May 11, 1990, the
      partnership filed an amended motion to dismiss the Chapter 7.  The
      motion was granted on June 21, 1990 and the partnership is no longer in
      bankruptcy.





Item
      2:  Changes In Securities: None





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, Financial Statement Schedules, and Reports on Form
      8-K







a)
      Documents filed as part of this Report: Unaudited financial
      statement.





b)
      Reports on Form 8-K: None.




Item
      9:
      Disagreements on Accounting and Financial Disclosure Matters





TASA
      has
      no independent accountant at present, in accordance with Rule
      3-11
      of Regulation S-X




Item
      9A
      Controls and Procedures




The
      Partnership's disclosure controls and procedures are designed to ensure that
      information required to be disclosed in reports that are filed or submitted
      under the Securities Exchange Act of1934, as amended, is recorded, processed,
      summerized and reported within the time periods specified in the rules and
      forms
      of the Securities and Exchange Commission.  Disclosure controls and
      procedures include, without limitation, controls and procedures designed to
      ensure that information required to be disclosed by an issuer in the reports
      that it files or submits under the Act is accumulated and communicated to the
      issuer's management including its principal executive and principal financial
      officers, or persons performing similar functions (the General Partners), as
      appropriate to allow timely decisions regarding required
      disclosure.





The
      General Partners have reviewed the effectiveness of the Partnership's disclosure
      controls and procedures as of the end of the period covered by this Form 10-Q
      report and have concluded that the disclosure controls and proceedures are
      effective. There were no changes in our internal control over financial
      reporting during the three months ended June 30, 2007 that have materially
      affected, or are reasonably likely to materially affect, our internal control
      over financial reporting.




9B
      Other Information





None




Appendix
        A
 
 TASA
        PRODUCTS LIMITED
 BALANCE
        SHEET
 June
        30,
        2007
 (UNAUDITED)
 
 
 ASSETSCash$
              
              
              0Royalties
                  Receivable
              
              
              0TOTAL
                  CURRENT ASSETS
              
              $
              0Intangible
                  Assets Less Amortization
              
              
              0Receivable
                  from Affiliates Less Allowance
              
              
              0TOTAL
                  ASSETS
              
              $
              0LIABILITIES
                  AND PARTNERS' EQUITYAccounts
                  Payable
              
              $
              0Taxes
                  Payable
              
              
              0TOTAL
                  CURRENT LIABILITIES
              
              
              0Payable
                  to Creditors (Non-Recourse)
              
              
              2,383,607TOTAL
                  LIABILITIES
              
              
              2,383,607Partners'
                  Capital
              
              
              (2,383,607
              )TOTAL
                  LIABILITIESAND
                  PARTNER'S EQUITY
              
              
              0
  
  TASA
        PRODUCTS LIMITED
 STATEMENT
        OF INCOME
 FOR
        THE
        QUARTER ENDING
 June
        30,
        2007
 (UNAUDITED)
   Royalty
                  Revenue
              
              $
              0Expenses
              
              
              0Net
                  Income (Loss)
              
              $
              0
 
  TASA
        PRODUCTS LIMITED
 STATEMENT
        OF CASH FLOWS
 FOR
        THE
        QUARTER ENDING
 June
        30,
        2007
 (UNAUDITED)
   Net
                  Cash Provided By Operating Activities
              
              $
              0Net
                  Cash Distribution to Partners
              
              
              0Net
                  Cash Distribution to Creditors
              
              
              0Net
                  Cash Used By Investing Activities
              
              
              0Net
                  Cash Provided By Financing Activities
              
              
              0Net
                  Increase In Cash
              
              
              0Cash
                  At Beginning Of Period
              
              
              0Cash
                  At End Of Period
              
              $
              0
  
  SIGNATURES
 
 Pursuant
        to the Requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned thereunto
        duly authorized.
 
 TASA
                  PRODUCTS LIMITED(Registrant)7-26-07
              /S/
                  Michel E. Maes, Co-General Partner(Date)
              (Signature)