| Nevada(State                of incorporation) | 20-4069588                (IRS                Employer ID Number) |
|-----------------------------------------------|-------------------------------------------------------------------|

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**TABLE      OF CONTENTS**

| PART                  I                                                                                   |   | Page     |
|-----------------------------------------------------------------------------------------------------------|--------|----------|
| Item                  1. Financial Statements                                                             |   |  2  |
| Item                  2. Management’s Discussion and Analysis or Plan of                  Operation |   |  7  |
| Item                  3 Controls and Procedures                                                           |   |  10 |
| PART                  II                                                                                  |   |     |
| Item                  1. Legal Proceedings                                                                |   |  11 |
| Item                  2. Unregistered Sales of Equity Securities and Use of                  Proceeds     |   |  11 |
| Item                  3. Defaults Upon Senior Securities                                                  |   |  12 |
| Item                  4. Submission of Matters to a Vote of Security Holders                              |   |  12 |
| Item                  5. Other Information                                                                |   |  12 |
| Item                  6. Exhibits                                                                         |   |  12 |

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**Item      1. **
**Financial      Statements.**

| Current                  Assets:                                                                                                                                  |   |   |                      |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------------------|
| Cash                                                                                                                                                              |   | $      | 5,454                     |   |
|                                                                                                                                                              |   |   |                      |   |
| Total                  Current Assets                                                                                                                             |   |   | 5,454                     |   |
|                                                                                                                                                              |   |   |                      |   |
| Total                  Assets                                                                                                                                     |   | $      | 5,454                     |   |
|                                                                                                                                                              |   |   |                      |   |
| LIABILITIES                  AND STOCKHOLDERS’ DEFICIENCY                                                                                                   |   |   |                      |   |
|                                                                                                                                                              |   |   |                      |   |
| Current                  Liabilities:                                                                                                                             |   |   |                      |   |
| Accrued                  Liabilities                                                                                                                              |   | $      | 15,101                    |   |
| Loans                  Payable - Related Party                                                                                                                    |   |   | 12,233                    |   |
|                                                                                                                                                              |   |   |                      |   |
| Total                  Current Liabilities                                                                                                                        |   |   | 27,334                    |   |
|                                                                                                                                                              |   |   |                      |   |
| Long-Term                  Debt                                                                                                                                   |   |   | 20,000                    |   |
|                                                                                                                                                              |   |   |                      |   |
| Total                  Liabilities                                                                                                                                |   |   | 47,334                    |   |
|                                                                                                                                                              |   |   |                      |   |
| Commitments                  and Contingencies                                                                                                                    |   |   |                      |   |
|                                                                                                                                                              |   |   |                      |   |
| Stockholders’                  Deficiency:                                                                                                                  |   |   |                      |   |
| Preferred                    Stock, $.001 par value; 5,000,000 shares authorized,none issued                    and                    outstanding                |   |   | -                         |   |
| Common                    Stock, $.0001 par value; 1,250,000,000 shares authorized,30,250,000                    shares                    issued and outstanding |   |   | 3,025                     |   |
| Additional                  Paid-In Capital                                                                                                                       |   |   | 91,475                    |   |
| Deficit                  Accumulated During the Development Stage                                                                                                 |   |   | (136,380                  | ) |
|                                                                                                                                                              |   |   |                      |   |
| Total                  Stockholders’ Deficiency                                                                                                             |   |   | (                  41,880 | ) |
|                                                                                                                                                              |   |   |                      |   |
| Total                  Liabilities and Stockholders’ Deficiency                                                                                             |   | $      | 5,454                     |   |

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|                                                                   |   | For                  the ThreeMonths                  Ended |       | For                  the Period March 23, 2006 (Inception)                  To March 31, |   |
|------------------------------------------------------------------------|--------|-------------------------------------------------------------|------------|---------------------------------------------------------------------------------------------------------|--------|
|                                                                   |   | March                  31, 2007                             |       | 2006                                                                                                    |   | 2007 |   |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |
| Net                  Revenues                                          |   | $                                                           | -          |                                                                                                    | $      | - |   | $ | - |   |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Costs                  and Expenses:                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Start                  Up Costs                                        |   |                                                        | -          |                                                                                                    |   | - |   |   | 8,735 |   |
| Professional                  Fees                                     |   |                                                        | 2,945      |                                                                                                    |   | - |   |   | 25,084 |   |
| Consulting                  and Marketing Expenses                     |   |                                                        | -          |                                                                                                    |   | - |   |   | 47,000 |   |
| Website                  Development Costs                             |   |                                                        | -          |                                                                                                    |   | - |   |   | 13,000 |   |
| Research                  and Development                              |   |                                                        | -          |                                                                                                    |   | - |   |   | 10,000 |   |
| Other                  General and Administrative Expenses             |   |                                                        | 13,936     |                                                                                                    |   | - |   |   | 30,576 |   |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Total                  Costs and Expenses                              |   |                                                        | 16,881     |                                                                                                    |   | - |   |   | 134,395 |   |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Loss                  from Operations before Other (Income (Expense)   |   |                                                        | (16,881    | )                                                                                                       |   | - |   |   | (134,395 | ) |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Other                  Income (Expense):                               |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Interest                  Expense                                      |   |                                                        | (636       | )                                                                                                       |   | - |   |   | (2,066 | ) |
| Interest                  Income                                       |   |                                                        | -          |                                                                                                    |   | - |   |   | 81 |   |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Total                  Other Income (Expense)                          |   |                                                        | (636       | )                                                                                                       |   | - |   |   | (1,985 | ) |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Net                  Loss                                              |   | $                                                           | (17,517    | )                                                                                                       | $      | - |   | $ | (136,380 | ) |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Basic                  and Diluted Loss Per Share                      |   | $                                                           | (.00       | )                                                                                                       | $      | - |   |   |   |   |
|                                                                   |   |                                                        |       |                                                                                                    |   |   |   |   |   |   |
| Weighted                  Average Basic and Diluted Shares Outstanding |   |                                                        | 30,250,000 |                                                                                                    |   | - |   |   |   |   |

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|                                                                                                          |   | For                  the Three Months Ended |                      |  For                  the Period   March 23, 2006   (Inception)                  To   March 31,   |   |
|---------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------|---------------------------|--------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                          |   | March                  31, 2007             |                      | 2006                                                                                                                                 |   | 2007 |   |
| Cash                  Flows from Operating Activities:                                                        |   |                                        |                      |                                                                                                                                 |   |   |   |
| Net                  Loss                                                                                     |   | $                                           | (                  17,517 | )                                                                                                                                    |   | - |   | $ | (136,380 | ) |
| Adjustments                  to Reconcile Net Loss to Net Cash Used in Operating                  Activities: |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Common                  Stock Issued for Services                                                             |   |                                        | -                         |                                                                                                                                 |   | - |   |   | 10,100 |   |
| Changes                  in Assets and Liabilities:                                                           |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Increase                  in Accrued Liabilities                                                              |   |                                        | 5,495                     |                                                                                                                                 |   | - |   |   | 15,101 |   |
|                                                                                                          |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Net                  Cash Used in Operating Activities                                                        |   |                                        | (                  12,022 | )                                                                                                                                    |   | - |   |   | (111,179 | ) |
|                                                                                                          |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
|  Cash                  Flows from Investing Activities:                                                  |   |                                        | -                         |                                                                                                                                 |   | - |   |   | - |   |
|                                                                                                          |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Cash                  Flows from Financing Activities:                                                        |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Proceeds                  of Borrowings                                                                       |   |                                        | -                         |                                                                                                                                 |   | - |   |   | 20,000 |   |
| Proceeds                  of Loans from Related Party                                                         |   |                                        | -                         |                                                                                                                                 |   | - |   |   | 12,233 |   |
| Proceeds                  from Sale of Common Stock                                                           |   |                                        | -                         |                                                                                                                                 |   | - |   |   | 100,400 |   |
| Expenses                  of Offering                                                                         |   |                                        | -                         |                                                                                                                                 |   | - |   |   | (                  16,000 | ) |
|                                                                                                          |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Net                  Cash Provided by Financing Activities                                                    |   |                                        | -                         |                                                                                                                                 |   | - |   |   | 116,633 |   |
|                                                                                                          |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Increase                  (Decrease) in Cash                                                                  |   |                                        | (                  12,022 | )                                                                                                                                    |   | - |   |   | 5,454 |   |
|                                                                                                          |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Cash                  - Beginning of Period                                                                   |   |                                        | 17,476                    |                                                                                                                                 |   | - |   |   | - |   |
|                                                                                                          |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Cash                  - End of Period                                                                         |   | $                                           | 5,454                     |                                                                                                                                 | $      | - |   | $ | 5,454 |   |
|                                                                                                          |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Supplemental                  Disclosures of Cash Flow Information:                                           |   |                                        |                      |                                                                                                                                 |   |   |   |   |   |   |
| Interest                  Paid                                                                                |   | $                                           | -                         |                                                                                                                                 | $      | - |   | $ | - |   |
|  Income                  Taxes Paid                                                                      |   | $                                           | -                         |                                                                                                                                 | $      | - |   | $ | - |   |

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| Long-term                  debt consists of the following:                                                                                                                                                                                     |   |   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|
|                                                                                                                                                                                                                                           |   |   |   |
| Note                  payable to an individual, with a borrowing line of up to $20,000,                  bearing                  interest at 8% per annum and principal and interest payable April                  24,                  2008 |   | $      | 10,000 |   |
|                                                                                                                                                                                                                                           |   |   |   |   |
| Note                  payable to an individual, with a borrowing line of up to $20,000,                  bearing                  interest at 8% per annum and principal and interest payable April                  24,                  2008 |   |   | 10,000 |   |
|                                                                                                                                                                                                                                           |   |   |   |   |
|                                                                                                                                                                                                                                           |   | $      | 20,000 |   |

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| Twelve                  Months Ending During |   |   |   |
|----------------------------------------------|--------|--------|--------|
| March                  31, 2008              |   | $      | -      |   |
| March                  31, 2009              |   |   | 20,000 |   |
|                                         |   |   |   |   |
|                                         |   | $      | 20,000 |   |

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

**Forward-Looking      Statements **

**Overview**

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| ·   | Phase                I - Over the course of a twelve month period we would seek to develop                a                sampling of products for the convenience meal market. Initially we                would                offer two or three frozen dinners consisting of a meat entree (chicken,                beef or pork) and two side dishes including an Asian style rice (cooked                or                steamed) and an Asian vegetable(s) (cooked or pickled). When creating                our                initial products we will seek out qualified culinary experts including                chefs, food purveyors and packaging                experts. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Phase                II - Upon completion of the creation of our initial products, we                intend to                use any earned revenue we may receive to continue creating new convenience                meal dishes as well as products in the areas of snacks and other                foods. By                incrementally adding each product when appropriate, we hope to attract                and                retain a broad customer base to our product brand. As an on-going                concern                in a competitive market, we expect that new product development will                always be an important task for our                company. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | Phase                III - Ultimately, it is our goal to be able to lease or buy industrial                space and equip a food processing facility that is approved by the                USDA.                It is our intention that this facility will be used to prepare, freeze,                package, store and ship our products, and house our administrative                offices. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Plan      of Operation**

**Liquidity      and Capital Resources**

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**Going      Concern**

**Off      Balance Sheet Arrangements**

**Item      3. **
**Controls      and Procedures.**

**Evaluation      of Disclosure Controls and Procedures**

**Changes      in Internal Controls over Financial Reporting**

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**PART      II. OTHER INFORMATION**

**Item      1. **
**Legal      Proceedings.**

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

**Unregistered      Sales of Equity Securities**

**Purchases      of equity securities by the issuer and affiliated      purchasers**

**Use      of Proceeds**

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**Item      3. **
**Defaults      Upon Senior Securities.**

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

**Item      5. **
**Other      Information.**

**Item      6. **
**Exhibits**

| Exhibit                No. |   | Description                                                                                                                                                                                                                                                                                                              |
|----------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                       |   |                                                                                                                                                                                                                                                                                                                     |
| 3.1                        |   | Articles                of Incorporation (filed as Exhibit 3.1 to our registration statement                on                Form SB-2 filed with the Securities and Exchange Commission on June                21,                2006 (SEC File No. 333-135199) and incorporated herein by                reference). |
|                       |   |                                                                                                                                                                                                                                                                                                                     |
| 3.2                        |   | Certificate                of Change, dated as of April 23, 2007 (Attached Hereto)                                                                                                                                                                                                                                       |
|                       |   |                                                                                                                                                                                                                                                                                                                     |
| 31.1                       |   | Rule                13a-14(a)/15d14(a) Certifications of Kelly Fan, the President, Chief                Executive Officer, Treasurer, and Director (Attached                Hereto)                                                                                                                                      |
|                       |   |                                                                                                                                                                                                                                                                                                                     |
| 31.2                       |   | Rule                13a-14(a)/15d14(a) Certifications of Patricia E. Dowell, the                Secretary(Attached Hereto)                                                                                                                                                                                               |
|                       |   |                                                                                                                                                                                                                                                                                                                     |
| 32.1                       |   | Section                1350 Certifications of Kelly Fan, the President, Chief Executive                Officer,                Treasurer, and Director(Attached Hereto)                                                                                                                                                  |
|                       |   |                                                                                                                                                                                                                                                                                                                     |
| 32.2                       |   | Section                1350 Certifications of Patricia E. Dowell, the Secretary (Attached                Hereto)                                                                                                                                                                                                         |

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|                               |                                                                                                                              |                       |
|------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------|----------------------------|
| Dated:                May 14, 2007 |                                                                                                                              |                       |
|                               |                                                                                                                              |
|                               | FRANKLIN                TOWERS ENTERPRISES, INC.                                                                                  |
|                          |                                                                                                                         |                  |
|                                    | By:                                                                                                                     | /s/              Kelly Fan |
|                               | Name:                 Kelly                FanTitle:                 President,                Chief Executive Officer, |
|                               | Treasurer,                and Director (Principal                Executive, Financial, and Accounting                Officer)     |

|   |                                                                                              |                                |
|--------|---------------------------------------------------------------------------------------------------|-------------------------------------|
|   |                                                                                              |                                |
|        | By:                                                                                     | /s/              Patricia E. Dowell |
|   | Name:                 Patricia                E. DowellTitle:                 Secretary |

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