Aamaxan Transport Group, Inc. - Quarterly Report of Financial Condition (10QSB)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

FORM 10-QSB

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended October 31, 2007

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to_____________

Commission file number 000-51911

AAMAXAN TRANSPORT GROUP, INC.
(Name of Small Business Issuer as specified in its charter)

 Delaware 20-5772205
(State or other jurisdiction of (I.R.S. Employer
 incorporation or organization) Identification No.)

31 Walmer Rd, Suite 6 Toronto, Ontario, M5R 2W7
(Address of principal executive offices) (Zip Code)

(416) 928-3095
(Issuer's telephone number)

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

Yes X No

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act).

Yes X No

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:

Check whether the registrant filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act after the distribution of securities under a plan confirmed by a court.

Yes No

As of October 31, 2007, the issuer had 244,000 shares of Common Stock, $.0001 par value per share outstanding.

Transitional Small Business Disclosure Format (Check one): Yes No X

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION 4

ITEM 1. Financial Statements 4

ITEM 2. Management's Discussion and Analysis or Plan of Operation 13

ITEM 3. Controls and Procedures 14

Part II - OTHER INFORMATION 14

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 15

ITEM 6. Exhibits and Reports on Form 8-K 15

Signatures 15

FORWARD LOOKING STATEMENTS AND RISK FACTORS

Certain statements contained in this Form 10-QSB filed by Aamaxan Transport Group, Inc., a development stage company ("Aamaxan" or the "Company") constitute "statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements, identified by words such as "will," "may," "expect," "believe," "anticipate," "intend," "could," "should," "expect," "estimate," "plan" and similar expressions, relate to or involve the current views of management with respect to future expectations, objectives and events and are subject to substantial risks, uncertainties and other factors beyond management's control that may cause actual results to be materially different from any such forward-looking statements. Such risks and uncertainties include those set forth in this document and others made by or on behalf of the Company in the future, including but not limited to, the Company's limited operating history, its need for additional capital or financing, its ability or inability to produce and market products and services, its ability to make a profit in the future, its dependence on a limited number of customers and key personnel, its dependence on certain industries, its ability to locate and consummate business opportunities that would appear to be in the best interests of the shareholders, its ability to implement strategies to develop its business in emerging markets, competition from other or similar companies or businesses, and, general economic conditions. Any forward-looking statements in this document and any subsequent Company document must be evaluated in light of these and other important risk factors. The Company does not intend to update any forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information.

PART I - FINANCIAL INFORMATION

ITEM 1. Financial Statements

Aamaxan Transport Group, Inc.

(A Development Stage Company)

Financial Statements

For the Three and Nine Months Ended October 31, 2007 and 2006

C O N T E N T S

BALANCE SHEET..................................................................5

STATEMENTS OF OPERATIONS (THREE MONTHS ENDED OCT. 31, 2007 AND 2006)...........6

STATEMENTS OF OPERATIONS (NINE MONTHS ENDED OCT. 31, 2007 AND 2006)............7

STATEMENTS OF CASH FLOWS (NINE MONTHS ENDED OCT. 31, 2007 AND 2006)..........8-9

NOTES TO FINANCIAL STATEMENTS..............................................10-11

AAMAXAN TRANSPORT GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
(UNAUDITED)
OCTOBER 31, 2007

 Assets
 ------

Current assets:

 Cash $ -
 Prepaid expenses 517
 --------------

 Total current assets 517
 --------------

 $ 517
 ==============

Liabilities and Stockholders' Equity (Deficit)

Current liabilities:

 Accounts payable $ 703
 Advances from stockholder 61,856
 --------------

 Total current liabilities 62,559

Stockholders' equity (deficit):

 Preferred stock, $.001 par value, 10,000,000
 shares authorized, no shares issued or outstanding -
 Common stock, $.0001 par value, 200,000,000
 shares authorized, 244,000 shares
 issued and outstanding 24
 Additional paid-in capital 7,352,748
 Deficit accumulated during the development stage (7,414,814)
 --------------
 (62,042)
 --------------

 $ 517
 ==============