**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-QSB**

| [xx] | QUARTERLY                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934                FOR THE QUARTERLY PERIOD ENDED JUNE 30,                2007 |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**INVESTMENT      ASSOCIATES, INC.**

*-          1          -*

----

**INVESTMENT          ASSOCIATES, INC.**

**INDEX**

| PART                    1.  | FINANCIAL                    INFORMATION                                                                                                                                                       |     |     |
|-----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|----------|
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    1.  Financial Statements                                                                                                                                          |     |
|                        |                                                                                                                                                                                           |     |     |
|                        |         Balance                    Sheet as of June 30, 2007 (unaudited)                                                                               |  3  |
|                        |                                                                                                                                                                                           |     |     |
|                        |         Statements                    of                    Operations for the nine months ended June 30, 2007 and 2006                    (unaudited) |  4  |
|                        |                                                                                                                                                                                           |     |     |
|                        |         Statements                    of                    Cash Flows for the nine months ended June 30, 2007 and 2006                    (unaudited) |  5  |
|                        |                                                                                                                                                                                           |     |     |
|                        |         Condensed                    Notes                    to Interim Financial Statements                                                          |  6  |
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    2.    Plan of Operation                                                                                                                                      |  9  |
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    3.    Controls and Procedures                                                                                                                                |  13 |
|                        |                                                                                                                                                                                           |     |     |
| PART                    II. | OTHER                    INFORMATION                                                                                                                                                           |     |
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    1.    Legal Proceedings                                                                                                                                      |  14 |
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    2.    Unregistered Sales of Equity Securities and Use of                    Proceeds                                                                    |  14 |
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    3.    Defaults Upon Senior Securities                                                                                                                   |  14 |
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    4.    Submission of Matters to a Vote of Security                    Holders                                                                            |  14 |
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    5.    Other Information                                                                                                                                 |  14 |
|                        |                                                                                                                                                                                           |     |     |
|                        | Item                    6.    Exhibits and Reports on Form 8K                                                                                                                   |  15 |
|                        |                                                                                                                                                                                           |     |     |
|                        | SIGNATURES                                                                                                                                                                                     |     |  15 |

*-          2          -*

----

**INVESTMENT      ASSOCIATES, INC.**

**(A      Development Stage Enterprise)**

**BALANCE          SHEETS**

----

|                                                                |   | June                  30, |    |   |                           |   |
|---------------------------------------------------------------------|--------|---------------------------|---------|--------|--------------------------------|--------|
|                                                                |   | 2007                      |    |   | September                  30, |   |
|                                                                |   | (unaudited)               |    |   | 2006                           |   |
| **ASSETS**                                                          |   |                      |    |   |                           |   |
|                                                                |   |                      |    |   |                           |   |
| CURRENT                  ASSETS                                     |   |                      |    |   |                           |   |
|     Cash                                        |   | $                         | 1,099   |   |                           | $      | 457 |   |
|     Prepaid                  expense            |   |                      | 972     |   |                           |   | - |   |
|                                                                |   |                      |    |   |                           |   |   |   |
| **TOTAL                  ASSETS**                                   |   | $                         | 2,071   |   |                           | $      | - |   |
|                                                                |   |                      |    |   |                           |   |   |   |
|                                                                |   |                      |    |   |                           |   |   |   |
| **LIABILITIES                  AND STOCKHOLDERS' DEFICIT**          |   |                      |    |   |                           |   |   |   |
|                                                                |   |                      |    |   |                           |   |   |   |
| CURRENT                  LIABILITIES                                |   |                      |    |   |                           |   |   |   |
| Accounts                  payable and accrued liabilities           |   | $                         | 41      |   |                           | $      | 1,079 |   |
| Indebtedness                  to related parties                    |   |                      | 2,720   |   |                           |   | 24,720 |   |
| Loans                  payable                                      |   |                      | 10,000  |   |                           |   | 10,000 |   |
|                                                                |   | ** **                |    |   |                           |   |   |   |
| TOTAL                  CURRENT LIABILITIES                          |   |                      | 12,761  |   |                           |   | 35,799 |   |
|                                                                |   |                      |    |   |                           |   |   |   |
|                                                                |   |                      |    |   |                           |   |   |   |
| COMMITMENTS                  AND CONTINGENCIES                      |   |                      | -       |   |                           |   | - |   |
|                                                                |   |                      |    |   |                           |   |   |   |
|                                                                |   |                      |    |   |                           |   |   |   |
| STOCKHOLDERS'                  DEFICIT                              |   |                      |    |   |                           |   |   |   |
| Common                  stock, 25,000,000 shares authorized; $0.001 |   |                      |    |   |                           |   |   |   |
| par                  value; 1,000,000 shares issued and outstanding |   |                      | 1,000   |   |                           |   | 1,000 |   |
| Additional                  paid-in capital                         |   |                      | 67,283  |   |                           |   | 29,283 |   |
| Accumulated                  deficit during development stage       |   |                      | (78,973 | )      |                           |   | (65,625 | ) |
|                                                                |   |                      |    |   |                           |   |   |   |
| TOTAL                  STOCKHOLDERS'  DEFICIT             |   |                      | (10,690 | )      |                           |   | (35,342 | ) |
|                                                                |   |                      |    |   |                           |   |   |   |
|                                                                |   |                      |    |   |                           |   |   |   |
| **TOTAL                  LIABILITIES AND STOCKHOLDERS' DEFICIT**    |   | $                         | 2,071   |   |                           | $      | 457 |   |

*-          3          -*

----

**INVESTMENT        ASSOCIATES, INC.**

**(A        Development Stage Enterprise)**

**STATEMENTS        OF OPERATIONS **

----

|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   | From                                |      |
|-------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|--------|-----------------------------------|--------|-----------|----------------------------------|--------|--------|----------------------------------|--------|--------|-------------------------------------|-----------|
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   | July                      18,       |      |
|                                                              |   | Three                      Months                                                                                                                                            |      |   | Three                      Months |   |      | Nine                      Months |   |   | Nine                      Months |   |   | 1997                                |      |
|                                                              |   | Ended                                                                                                                                                                        |      |   | Ended                             |   |      | Ended                            |   |   | Ended                            |   |   | (Inception)                      to |      |
|                                                              |   | June                      30,                                                                                                                                                |      |   | June                      30,     |   |      | June                      30,    |   |   | June                      30,    |   |   | June                      30,       |      |
|                                                              |   | 2007                                                                                                                                                                         |      |   | 2006                              |   |      | 2007                             |   |   | 2006                             |   |   | 2007                                |      |
|                                                              |   | (unaudited)                                                                                                                                                                  |      |   | (unaudited)                       |   |      | (unaudited)                      |   |   | (unaudited)                      |   |   | (unaudited)                         |      |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |
| REVENUES                                                          |   | $                                                                                                                                                                            | -         |   |                              | $      | -         |                             |   | $      | -                                |   |   | $                                   | -         |   |   | $ | - |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| EXPENSES                                                          |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| Selling,                      general and administrative expenses |   |                                                                                                                                                                         | 3,674     |   |                              |   | 5,293     |                             |   |   | 13,348                           |   |   |                                | 10,890    |   |   |   | 82,751 |   |
| Loss                      on write-down of note receivable        |   |                                                                                                                                                                         | -         |   |                              |   | -         |                             |   |   | -                                |   |   |                                | -         |   |   |   | 18,679 |   |
| Gain                      on forgiveness of note payable          |   |                                                                                                                                                                         | -         |   |                              |   | -         |                             |   |   | -                                |   |   |                                | -         |   |   |   | (22,500 | ) |
| Interest                      expense                             |   |                                                                                                                                                                         | -         |   |                              |   | -         |                             |   |   | -                                |   |   |                                | -         |   |   |   | 43 |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| TOTAL                      EXPENSES                               |   |                                                                                                                                                                         | 3,674     |   |                              |   | 5,293     |                             |   |   | 13,348                           |   |   |                                | 10,890    |   |   |   | 78,973 |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| LOSS                      FROM OPERATIONS                         |   |                                                                                                                                                                         | (3,674    | )      |                              |   | (5,293    | )                                |   |   | (13,348                          | )      |   |                                | (10,890   | ) |   |   | (78,973 | ) |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| LOSS                      BEFORE TAXES                            |   |                                                                                                                                                                         | (3,674    | )      |                              |   | (5,293    | )                                |   |   | (13,348                          | )      |   |                                | (10,890   | ) |   |   | (78,973 | ) |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| INCOME                      TAXES                                 |   |                                                                                                                                                                         | -         |   |                              |   | -         |                             |   |   | -                                |   |   |                                | -         |   |   |   | - |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| NET                      LOSS                                     |   | $                                                                                                                                                                            | (3,674    | )      |                              | $      | (5,293    | )                                |   | $      | (13,348                          | )      |   | $                                   | (10,890   | ) |   | $ | (78,973 | ) |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| NET                      LOSS PER COMMON SHARE,                   |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| BASIC                      AND DILUTED                            |   | $                            nil |      |   | $                                 | (0.01  | )         |                             | $      | (0.01  | )                                |   | $      | (0.01                               | )         |   |   |   |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
|                                                              |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| WEIGHTED                      AVERAGE NUMBER                      |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| OF                      COMMON SHARES OUTSTANDING,                |   |                                                                                                                                                                         |      |   |                              |   |      |                             |   |   |                             |   |   |                                |      |   |   |   |   |   |
| BASIC                      AND DILUTED                            |   |                                                                                                                                                                         | 1,000,000 |   |                              |   | 1,000,000 |                             |   |   | 1,000,000                        |   |   |                                | 1,000,000 |   |   |   |   |   |

*-          4          -*

----

**INVESTMENT      ASSOCIATES, INC.**

**(A      Development Stage Enterprise)**

**STATEMENTS      OF CASH FLOWS **

----

|                                                                                                              |   |                           |         |   |                           |   |    | From                              |   |
|-------------------------------------------------------------------------------------------------------------------|--------|--------------------------------|--------------|--------|--------------------------------|--------|---------|-----------------------------------|--------|
|                                                                                                              |   |                           |         |   |                           |   |    | July                    18,       |   |
|                                                                                                              |   | Nine                    Months |         |   | Nine                    Months |   |    | 1997                              |   |
|                                                                                                              |   | Ended                          |         |   | Ended                          |   |    | (Inception)                    to |   |
|                                                                                                              |   | June                    30,    |         |   | June                    30,    |   |    | June                    30,       |   |
|                                                                                                              |   | 2007                           |         |   | 2006                           |   |    | 2007                              |   |
|                                                                                                              |   | (unaudited)                    |         |   | (unaudited)                    |   |    | (unaudited)                       |   |
|                                                                                                              |   |                           |         |   |                           |   |    |                              |   |
| **CASH                    FLOWS FROM OPERATING ACTIVITIES:**                                                      |   |                           |         |   |                           |   |    |                              |   |
|       Net                    loss                                                   |   | $                              | (13,348      | )      |                           | $      | (10,890 | )                                 |   | $ | (78,973 | ) |
| Adjustments                    to reconcile net loss to net cash used in operating                    activities: |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| Decrease                    (increase) in other assets                                                            |   |                           | (972         | )      |                           |   | -       |                              |   |   | (972 | ) |
| Loss                    on write-down of note receivable                                                          |   |                           | -            |   |                           |   | -       |                              |   |   | 18,679 |   |
| Gain                    on forgiveness note payable                                                               |   |                           | -            |   |                           |   | -       |                              |   |   | (22,500 | ) |
| Increase                    (decrease) in accounts payable and accrued liabilities                                |   |                           | (1,038       | )      |                           |   | (1,916  | )                                 |   |   | 41 |   |
| Net                    cash used by operating activities                                                          |   |                           | (15,358      | )      |                           |   | (12,806 | )                                 |   |   | (83,725 | ) |
|                                                                                                              |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| **CASH                    FLOWS PROVIDED BY INVESTING ACTIVITIES:**                                               |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| Issuance                    of note receivable                                                                    |   |                           | -            |   |                           |   | -       |                              |   |   | (18,679 | ) |
| Net                    cash used by investing activities                                                          |   |                           | -            |   |                           |   | -       |                              |   |   | (18,679 | ) |
|                                                                                                              |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| **CASH                    FLOWS PROVIDED BY FINANCING ACTIVITIES:**                                               |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| Issuance                    of common stock                                                                       |   |                           | -            |   |                           |   | -       |                              |   |   | 1,000 |   |
| Proceeds                    from issuance of loan payable                                                         |   |                           | -            |   |                           |   | -       |                              |   |   | 10,000 |   |
| Proceeds                    from related party advances                                                           |   |                           | 10,000       |   |                           |   | -       |                              |   |   | 34,720 |   |
| Proceeds                    from issuance of note payable                                                         |   |                           | -            |   |                           |   | -       |                              |   |   | 22,500 |   |
| Capital                    contributed by an affiliate                                                            |   |                           | 6,000        |   |                           |   | 13,000  |                              |   |   | 35,283 |   |
| Net                    cash provided by financing activities                                                      |   |                           |  16,000 |   |                           |   | 13,000  |                              |   |   | 103,503 |   |
|                                                                                                              |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| **                       NET INCREASE (DECREASE) IN CASH**                                         |   |                           | 642          |   |                           |   | 194     |                              |   |   | 1,099 |   |
|                                                                                                              |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| **CASH,                    BEGINNING OF PERIOD**                                                                  |   |                           | 457          |   |                           |   | 2,258   |                              |   |   | - |   |
|                                                                                                              |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| **CASH,                    END OF PERIOD**                                                                        |   | $                              | 1,099        |   |                           | $      | 2,452   |                              |   | $ | 1,099 |   |
|                                                                                                              |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| **SUPPLEMENTAL                    CASH FLOW INFORMATION:**                                                        |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| Interest                    paid                                                                                  |   | $                              | -            |   |                           | $      | -       |                              |   | $ | 43 |   |
| Income                    taxes paid                                                                              |   | $                              | -            |   |                           | $      | -       |                              |   | $ | - |   |
|                                                                                                              |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| **NON-CASH                    TRANSACTIONS:**                                                                     |   |                           |         |   |                           |   |    |                              |   |   |   |   |
| Contributed                    capital in exchange for related party indebtedness                                 |   | $                              | 32,000       |   |                           | $      | -       |                              |   | $ | 32,000 |   |

*-          5          -*

----

**INVESTMENTS        ASSOCIATES, INC.**

**(A        Development Stage Enterprise)**

**CONDENSED        NOTES TO THE INTERIM FINANCIAL STATEMENTS**

**June 30,        2007 **

----

**NOTE          1 – BASIS OF PRESENTATION**

**NOTE          2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

*-            6            -*

----

**INVESTMENTS          ASSOCIATES, INC.**

**(A          Development Stage Enterprise)**

**CONDENSED          NOTES TO THE INTERIM FINANCIAL STATEMENTS**

**June 30,          2007 **

----

**NOTE          3 – LOAN PAYABLE**

**NOTE          4 – RELATED PARTY TRANSACTIONS**

*-            7            -*

----

**INVESTMENTS        ASSOCIATES, INC.**

**(A        Development Stage Enterprise)**

**CONDENSED        NOTES TO THE INTERIM FINANCIAL STATEMENTS**

**June 30,        2007 **

----

**NOTE          5 – COMMON STOCK**

*-          8          -*

----

**PLAN        OF OPERATIONS**

*-            9            -*

----

*-          10          -*

----

| - | the                  available technical, financial and managerial                  resources; |
|---|------------------------------------------------------------------------------------------------|

| - | working                  capital and other financial                  requirements; |
|---|-------------------------------------------------------------------------------------|

| - | history                  of operations, if any; |
|---|-------------------------------------------------|

| - | prospects                  for the future; |
|---|--------------------------------------------|

| - | nature                  of present and expected                  competition; |
|---|-------------------------------------------------------------------------------|

| - | the                  quality and experience of management services that may be available                  and                  the depth of that management; |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| - | the                  potential for further research, development, or                  exploration; |
|---|----------------------------------------------------------------------------------------------------|

| - | specific                  risk factors not now foreseeable but could be anticipated to impact                  our                  proposed activities; |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| - | the                  potential for growth or expansion; |
|---|---------------------------------------------------------|

| - | the                  potential for profit; |
|---|--------------------------------------------|

| - | the                  perceived public recognition of acceptance of products, services,                  or                  trades; |
|---|-------------------------------------------------------------------------------------------------------------------------------------|

| - | name                  identification; and |
|---|-------------------------------------------|

| - | other                  relevant factors. |
|---|------------------------------------------|

*-            11            -*

----

*-            12            -*

----

**Item        3 - Controls and Procedures**

**(a)**
**Evaluation        of disclosure controls and procedures.**

*-            13            -*

----

**(b)**
**Changes        in internal controls.**

**PART        II**

**OTHER        INFORMATION**

*-            14            -*

----

**SIGNATURES**

|                               |                                                                                      |                                    |
|------------------------------------|-------------------------------------------------------------------------------------------|-----------------------------------------|
|                               | **INVESTMENT ASSOCIATES, INC.**                                                           |
|                          |                                                                                 |                               |
| Dated:              August 7, 2007 | Per:                                                                            | /s/ Robert              Hemmerling |
|                               | Robert                Hemmerling,C.F.O.,                Secretary, Treasurer and Director |
|                               |                                                                                      |

*-          15          -*

----

----