UNITED STATES

                   SECURITIES AND EXCHANGE COMMISSION

                         Washington, D.C. 20549

                               FORM 10-Q
   (Mark One)
     [X]    QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
            OF THE SECURITIES EXCHANGE ACT OF 1934
            For the quarterly period ended December 31, 2007

                                   OR

     [ ]    TRANSITION REPORT PURSUANT TO SECTION 13  OR 15(d)
            OF THE SECURITIES EXCHANGE ACT OF 1934
     For the transition period from ............ to ..............

                     Commission File Number 0-17214

                        ADMIRAL FINANCIAL CORP.

    State of Florida                        I.R.S. No. 59-2806414

                        7101 Southwest 67 Avenue
                       South Miami, Florida 33143

                    Telephone Number: (305) 669-6117




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 twelve  (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 ninety (90) days.

               Yes  [X]                       No [ ]



                    Common Stock $.001 Par Value
       Outstanding Shares at December 31,  2007:  10,985,000

<PAGE>

                                         PART I  -  FINANCIAL INFORMATION
                                         --------------------------------


                        ADMIRAL FINANCIAL CORP.
                             AND SUBSIDIARY

                      Consolidated Balance Sheets
                             (Dollars)
<TABLE>
<CAPTION>
          Assets                                    December  31, 2007     June 30, 2007
          ------                                    ------------------   ----------------
                                                        (Unaudited)         (Unaudited)
<S>                                                 <C>                  <C>
Cash                                                    $         0         $         0
Prepaid expenses and other assets                                 0                   0
Net assets of Haven Federal Savings and
     Loan Association (notes 1 and 2)                             0                   0
                                                        -----------         -----------
          Total assets                                  $         0         $         0
                                                        ===========         ===========

   Liabilities and Stockholders' (Deficit) Equity
   ----------------------------------------------

Accrued expenses and other liabilities                  $    23,890         $    23,890
Net liabilities of Haven Federal Savings
  and Loan Association (notes 1 and 2)                            0                   0
                                                        -----------         -----------
          Total   liabilities                                23,890              23,890


Preferred stock, $.01 par value, Authorized
     6,000,000 shares, none outstanding

Common stock, $.001 par value,
     50,000,000 shares authorized,
     10,987,000 shares issued                                10,987              10,987
     Treasury stock, 1,954 and 1,954 shares, at cost              0                   0
Additional paid-in capital                                  680,710             680,710
Deficit                                                    (715,587)           (715,587)
                                                        -----------         -----------
     Total stockholders' (deficit) equity                   (23,890)            (23,890)
                                                        -----------         -----------
     Total liabilities and stockholders'
       (deficit) equity                                 $         0         $         0
                                                        ===========         ===========
</TABLE>


      See accompanying notes to consolidated financial statements.


                                   1
<PAGE>

                                         PART I  -  FINANCIAL INFORMATION
                                         --------------------------------

                ADMIRAL FINANCIAL CORP.  AND SUBSIDIARY

                 Consolidated Statements of Operations
                              (Unaudited)

<TABLE>
<CAPTION>
                                   Three Months Ended Dec 31                Six Months Ended Dec 31
                              -------------------------------------   -----------------------------------
                                    2007                  2006              2007                2006
                                  -------               -------           -------             -------
<S>                           <C>                       <C>           <C>                     <C>
Interest Income                         0                     0                 0                   0
Other income                            0                     0                 0                   0
                                  -------               -------           -------             -------
     Total income                       0                     0                 0                   0

Expense
  Employee Compensation                 0                     0                 0                   0
  Other                                 0                     0                 0                   0
                                  -------               -------           -------             -------
  Total expense                         0                     0                 0                   0

  Loss from discontinued
    operation (note  2)                 0                     0                 0                   0
                                  -------               -------           -------             -------
Net loss                      $         0                     0                 0                   0
                                  =======               =======           =======             =======

Loss per share                    $  0.00               $  0.00           $  0.00             $  0.00
                                  =======               =======           =======             =======

Dividend per share                  ---                    ---               ---                ---
                                  =======               =======           =======             =======

Weighted average number
   of shares outstanding       10,985,046            10,985,046         10,985,046         10,985,046
                               ==========            ==========         ==========         ==========
</TABLE>





      See accompanying notes to consolidated financial statements


                                   2
<PAGE>

                                         PART I  -  FINANCIAL INFORMATION
                                         --------------------------------


                ADMIRAL FINANCIAL CORP.  AND SUBSIDIARY

                 Consolidated Statements of Cash Flows
                              (Unaudited)

<TABLE>
<CAPTION>

                                                   Six Months Ended December 31
                                                   ----------------------------
                                                       2007            2006
                                                   ------------     -----------
<S>                                                <C>              <C>
Cash flows from operating activities:

Net loss                                           $          0     $         0

Adjustments to reconcile net loss to net cash
  provided by operating activities:

Decrease in deficit arising from confiscation of
  Haven Federal after retroactive disallowance
   of agreed supervisory goodwill and regulatory
   capital                                                    0               0
Decrease in prepaid expenses and other assets                 0               0
Decrease (increase) in net assets of
   Haven Federal                                              0               0
(Decrease) in accrued expenses and other
   liabilities                                                0               0
(Decrease) Increase in net liabilities of
   Haven Federal                                              0               0
Amortization of organization expenses                         0               0
                                                   ------------     -----------

Net cash provided (used) by operating
  activities                                                  0               0

Cash and cash equivalents, beginning of year                  0               0
                                                   ------------     -----------

Cash and cash equivalents, end of quarter          $          0     $         0
                                                   ============     ===========
</TABLE>



      See accompanying notes to consolidated financial statements


                                   3
<PAGE>

                                         PART I  -  FINANCIAL INFORMATION
                                         --------------------------------


                ADMIRAL FINANCIAL CORP.  AND SUBSIDIARY

               Notes to Consolidated Financial Statements


Note 1.               In   the   opinion   of   management,   the
               accompanying  consolidated  financial   statements
               contain    all    the   adjustments   (principally
               consisting of normal recurring accruals) necessary
               to  present  fairly  the financial  statements  of
               Admiral    Financial   Corp.    ('Admiral')    and
               Subsidiary.

Note 2.             Where applicable, the net assets of Admiral's
               principal  operating  subsidiary,  Haven   Federal
               Savings  and Loan Association ('Haven'),  and  net
               liabilities are presented in the balance sheets in
               the  aggregate;  and  its loss  is  shown  in  the
               aggregate in the Statements of Operations for  the
               three  and  six month periods ended  December  31,
               2007 and 2006.



          ITEM 2 - Management's Discussion and Analysis
               of Consolidated Financial Condition and
                        Results of Operations
General
-------

    ADMIRAL    FINANCIAL   CORP.   ("ADMIRAL"),    an    inactive
corporation, is currently seeking to recapitalize the Company  in
order  to  resume  its  prior  activities  with  respect  to  the
acquisition  and  investment  in  interest-earning   assets   and
specialty real estate, as well as other new lines of business, as
yet unidentified.

    Admiral  is  presently inactive, other than  its  efforts  to
seek  a  merger,  exchange of capital stock,  asset  acquisition,
recapitalization,  or  other  similar  business  combination   (a
"Recapitalization")  with  an  operating  or  development   stage
business  which  Admiral  management  considers  to  have  growth
potential.   Admiral  currently receives no  cash  flow.  Admiral
anticipates   no  capital  infusions  prior  to  effectuating   a
Recapitalization.  Until  such  time  as  Admiral  effectuates  a
Recapitalization, Admiral currently expects that  it  will  incur
minimal future operating costs.

    No  officer  or  director of Admiral  is  paid  any  type  of
compensation  by Admiral and presently, there are no arrangements
or  anticipated  arrangements to pay any type of compensation  to
any  officer or director in the near future. Admiral expects that
it  will  meet  its  cash  requirements  until  such  time  as  a
Recapitalization  occurs. However, in the event Admiral  depletes
its   present  cash  reserves,  or  in  the  event  that  Admiral
management  ceases  to perform it's duties on a  non-compensatory
basis,  Admiral  may cease operations and a Recapitalization  may
not  occur. There are no agreements or understandings of any kind
with  respect to any loans from officers or directors of  Admiral
on the Company's behalf.

          This discussion may contain statements regarding future
financial  performance and results.  The realization of  outcomes
consistent  with these forward-looking statements is  subject  to
numerous  risks  and uncertainties to the Company including,  but
not  limited to, the availability of equity capital and financing
sources, the availability of attractive acquisition opportunities
once  such  new  equity capital and financing is secured  (if  at
all),  the  successful integration and profitable  management  of
acquired  businesses, improvement of operating efficiencies,  the
availability  of  working  capital  and  financing   for   future
acquisitions,  the  Company's ability to grow internally  through
expansion  of  services  and customer bases  without  significant
increases  in overhead, seasonality, cyclicality, and other  risk
factors.

Liquidity and Capital Resources
-------------------------------

     Admiral  is currently inactive.  Admiral management  intends
to  seek  a  new  line  of  business. as  yet  unidentified.   In
connection  therewith,  Admiral's  management  believes  that   a
restructuring  of  Admiral may be necessary  in  order  to  raise


                              4
<PAGE>

capital for new operations, and any such restructuring may have a
substantial dilutive effect upon Admiral's existing shareholders.
Admiral has no ongoing commitments or obligations other than with
respect  to  its  obligations  related  to  the  acquisition  and
subsequent confiscation of Haven.

Comparison of Three Months Ended December 31. 2007 and 2006
-----------------------------------------------------------

     Admiral  was inactive, and recorded no revenues or  expenses
during the period.

Comparison of Six Months Ended December 31. 2007 and 2006
---------------------------------------------------------

     Admiral  was inactive, and recorded no revenues or  expenses
during either period.


                                      PART II - OTHER INFORMATION
                                      ---------------------------
Item 1.   Legal Proceedings

     Admiral  did  not become involved in any new material  legal
proceedings during the period covered by this report.


Item 2.   Changes in Securities

     Not applicable.


Item 3.   Defaults Upon Senior Securities

     Not applicable.


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

     Not applicable.


Item 5.   Other Information

     Not applicable.


Item 6.   Exhibits and Reports on Form 8-k

     Not applicable



                           SIGNATURES
                           ----------



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


                                   ADMIRAL FINANCIAL CORP.
                                   (Registrant)


Date:     February 12, 2008        By:  /s/ Wm. Lee Popham
                                   ------------------------------
                                   Wm. Lee Popham, President


Date:     February 12, 2008             By:  /s/ Wm. Lee Popham
                                   ------------------------------
                                   Wm. Lee Popham, Principal
                                   Financial and Accounting Officer

















                               5
<PAGE>