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: March 31, 2009

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from ______________________to ______________________

Commission file number: 000-50085

Twin Lakes Delaware, Inc.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization)

88-0462760
(IRS Employer
Identification No.)

47 School Avenue
Chatham, NJ 07928
(Address of principal executive offices)

973-635-4047
(Issuer's telephone number)

(Former name, former address and former fiscal year,
if changed since last report)

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

Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes o No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated filer o		Accelerated filer o
Non-accelerated filer o		Smaller reporting company x

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

Yes x No o

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: There were a total of 2,583,941 shares of the issuer’s common stock, par value $.001 per share, outstanding as of May 6, 2009.

Twin Lakes Delaware, Inc.
(A Development Stage Company)
Quarterly Report on Form 10-Q
For the Period Ended March 31, 2009

Table of Contents

PART I FINANCIAL INFORMATION		PAGE

ITEM 1. FINANCIAL STATEMENTS
	Balance Sheets as of March 31, 2009 (Unaudited)
	and December 31, 2008	3

	Statements of Operations – Cumulative
	During the Development Stage (January 28, 2000
	to March 31, 2009) and for the Three Months Ended
	March 31, 2009 and 2008 (Unaudited)	4

	Statements of Cash Flow – Cumulative During the
	Development Stage (January 28, 2000 to March 31, 2009)
	and for the Three Months Ended
	March 31, 2009 and 2008 (Unaudited)	5

	Notes to Interim Financial Statements (Unaudited)	6

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATION		9

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		10

ITEM 4T. CONTROLS AND PROCEDURES		11

PART II OTHER INFORMATION

ITEM 6. EXHIBITS		11

SIGNATURES		12

FORWARD-LOOKING STATEMENTS

Certain statements made in this Quarterly Report on Form 10-Q are “forward-looking statements” regarding the plans and objectives of management for future operations and market trends and expectations. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. Our plans and objectives are based, in part, on assumptions involving the continued expansion of our business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that our assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. The terms “we”, “our”, “us”, or any derivative thereof, as used herein refer to Twin Lakes Delaware, Inc., a Delaware corporation, and its predecessors.

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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

TWIN LAKES DELAWARE, INC.
(A Development Stage Company)
BALANCE SHEETS

	March 31, 2009				December 31,
ASSETS	(unaudited)				2008

Cash	$	4,982		$	9,381
TOTAL ASSETS	$	4,982		$	9,381


LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Accounts payable & accrued expenses	$	8,277		$	12,676
Total liabilities		8,277			12,676

COMMITMENTS AND CONTINGENCIES		-			-

STOCKHOLDERS' DEFICIT:
Preferred stock, $0.001 par value, 10,000,000 shares authorized,
none issued and outstanding		-			-
Common stock, $0.001 par value; 40,000,000 shares
authorized, 2,583,941 shares issued and outstanding		2,584			2,584
Additional Paid-in Capital		210,505			205,505
Treasury stock - 20,000 shares of common stock, at cost		(9,300	)		(9,300	)
Deficit accumulated during the developmental stage		(207,084	)		(202,084	)
Total stockholders' deficit		(3,295	)		(3,295	)

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	4,982		$	9,381


The accompanying notes are an integral part of these financial statements.

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TWIN LAKES DELAWARE, INC.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
(unaudited)

		Cumulative During
		the Developmental
		Stage			Three Months Ended
		January 28, 2000 to			March 31,
		March 31, 2009			2009			2008

REVENUES	$	-		$	-		$	-

Expenses
Filing fees		26,133			1,000			1,071
Professional fees		130,435			4,000			4,000
Other expenses		13,041			-			-
Interest expense		37,475			-			-

Total expenses		207,084			5,000			5,071

Net Loss	$	(207,084	)	$	(5,000	)	$	(5,071	)


Basic and Diluted Loss per Share				$	(0.00	)	$	(0.00	)

Basic and Diluted Weighted
Average Shares Outstanding					2,583,941		2,583,941

The accompanying notes are an integral part of these financial statements.

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TWIN LAKES DELAWARE, INC.
(A Development Stage Company)
STATEMENTS OF CASH FLOWS
(unaudited)

		Cumulative During
		the Developmental
		Stage			Three Months Ended
		January 28, 2000 to			March 31,
		March 31, 2009			2009			2008

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(207,084	)	$	(5,000	)	$	(5,071	)

Non-cash items:
Compensatory shares		13,016			-			-
Reductions of legal fees		2,000			-			-
Valuation of beneficial conversion feature		32,163			-			-
Changes in operating assets and liabilities
Increase (decrease) in accounts payable & accrued
expenses		13,587			(4,399	)		(3,491	)

Net cash utilized by operating activities		(146,318	)		(9,399	)		(8,562	)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from shareholders' loans		60,100			-			-
Acquisition of treasury shares		(9,300	)		-			-
Contribution of additional paid in capital		97,500			5,000			-
Net proceeds from sale of common units		3,000			-			-

Net cash provided by financing activities		151,300			5,000			-

Increase in cash		4,982			(4,399	)		(8,562	)

Opening Cash		-			9,381			23,162

Ending Cash	$	4,982		$	4,982		$	14,600

The accompanying notes are an integral part of these financial statements.

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TWIN LAKES DELAWARE, INC.
(A Development Stage Company)
NOTES TO INTERIM FINANCIAL STATEMENTS
March 31, 2009
(Unaudited)

NOTE 1 - DESCRIPTION OF COMPANY:

We were originally organized as Twin Lakes, Inc. (“Twin Lakes”) under the laws of the state of Nevada on January 28, 2000 for the purpose of serving as a vehicle to raise capital and to acquire an operating business. On May 31, 2006, our board of directors approved the merger of Twin Lakes into Twin Lakes Delaware, Inc. (“we,” “our,” “us,” or “Twin Lakes Delaware”) a corporation organized under the laws of the State of Delaware. Effective June 8, 2006, pursuant to the applicable provisions of the Nevada Revised Statutes (the “NRS”), Twin Lakes was merged with and into Twin Lakes Delaware which became the surviving corporation and every five (5) issued and outstanding shares of Twin Lakes common stock was automatically converted into one (1) share of common stock, par value $.001 per share (“Common Stock”), of Twin Lakes Delaware (the “Delaware Merger”).

Unless otherwise stated, all share and per share information in these unaudited financial statements is presented as if the Delaware Merger took place at the beginning of all periods presented. The separate existence of Twin Lakes ceased on June 8, 2006 in accordance with the applicable provisions of the NRS.

We are currently considered a "blank check" company inasmuch as we do not generate revenues, do not own an operating business and have no specific business plan other than to engage in a merger or acquisition transaction with a yet-to-be identified company or business. We have no employees and no material assets. Administrative services are currently being provided by an entity controlled by an officer of ours at no charge. Our efforts to date have been limited to organizational activities and seeking an appropriate merger or acquisition vehicle.

As shown in the accompanying financial statements, we have accumulated losses of approximately $207,000 for the period from inception, January 28, 2000 to March 31, 2009, have negative working capital of approximately $3,300 and have no sales. Our future is dependent upon our ability to find a merger partner and to obtain financing and upon future profitable operations. Management expects to incur additional losses in the foreseeable future and recognizes the need to raise capital to remain viable. These conditions raise substantial doubt about our ability to continue as a going concern. The accompanying financial statements have been prepared for us assuming that we will continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event we cannot continue in existence.

We are considered as being in the development stage, since our inception, in accordance with Statement of Financial Accounting Standards No. 7, and our year-end is December 31.

The interim financial information as of March 31, 2009 and for the three month periods ended March 31, 2009 and 2008, respectively, have been prepared without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures made are adequate to provide for fair presentation. These financial statements should be read in conjunction with the financial statements and the notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2008, previously filed with the SEC.

In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of financial position as of March 31, 2009, and results of operations for the three month periods ended March 31, 2009 and 2008, respectively, and cash flows for the three month periods ended March 31, 2009 and 2008, respectively, have been made. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future periods.

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TWIN LAKES DELAWARE, INC.
(A Development Stage Company)
NOTES TO INTERIM FINANCIAL STATEMENTS
March 31, 2009
(Unaudited)

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Our accounting policies are in accordance with accounting principles generally accepted in the United States of America. Outlined below are those policies considered particularly significant.

(a) USE OF ESTIMATES:

In preparing financial statements in accordance with accounting principles generally accepted in the United States of America, management makes certain estimates and assumptions, where applicable, that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. While actual results could differ from those estimates, management does not expect such variances, if any, to have a material effect on the financial statements.

(b) EARNINGS (LOSS) PER SHARE:

Basic earnings (loss) per share has been computed on the basis of the weighted average number of shares of Common Stock outstanding during each period presented according to the provisions of SFAS No. 128 "EARNINGS PER SHARE". Diluted earnings (loss) per share have not been presented as there are no common stock equivalents outstanding.

Pursuant to SFAS No. 107, "Disclosures About Fair Value of Financial Instruments," we are required to estimate the fair value of all financial instruments included on our balance sheet as of March 31, 2009. We consider the carrying value of accrued expenses in the financial statements to approximate their face value.

(d) STATEMENTS OF CASH FLOWS:

For purposes of the statements of cash flows we consider all highly liquid investments purchased with a remaining maturity of three months or less to be cash equivalents.

(e) NEW ACCOUNTING PRONOUNCEMENTS:

Management does not believe that any new accounting pronouncements not yet effective will have a material impact on the Company’s financial statements once adopted.

NOTE 3 - STOCKHOLDERS' EQUITY:

Following the Delaware Merger, our authorized capitalization consisted of 40,000,000 shares of Common Stock and 10,000,000 shares of preferred stock, par value $.001 per share. At March 31, 2009, 2,583,941 shares of Common Stock were issued and outstanding (held by seven holders of record) and no shares of preferred stock were outstanding. On January 9, 2006 pursuant to the Convertible Grid Note Conversion Agreement, Turquoise Partners, LLC (“TPL”), our then principal stockholder, converted $32,163 of indebtedness into 1,891,941 shares (9,459,706 pre-merger shares) of Common Stock which represented approximately 73% of our then issued and outstanding shares of Common Stock. Subsequently, on March 6, 2006, TPL sold 1,890,000 shares (9,450,000 pre-merger shares) of Common Stock to a third

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party. Also in March 2006, we acquired from a stockholder 20,000 shares (100,000 pre-merger shares) of our Common Stock for $9,300, which shares are now recorded as treasury shares. During the years ended December 31, 2008, 2007 and 2006, a stockholder contributed an aggregate of $15,000, $45,000 and $32,500, respectively, for working capital purposes which were recorded as additional paid in capital. The same stockholder contributed an additional $5,000 during the three months ended March 31, 2009 and another $6,000 on April 6, 2009.

NOTE 4 – COMMITMENTS AND CONTIGENCIES

On January 29, 2009, the Company entered into an agreement with Kirk M. Warshaw, LLC (the “LLC”) for the use and occupancy, and administrative services, related to its principal offices. The agreement provides for quarterly payments from the Company to the LLC of $500. The effective date of the agreement is January 1, 2009.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Use of Forward-Looking Statements

Some of the statements in this Form 10-Q, including some statements in “Management’s Discussion and Analysis or Plan of Operation” are forward-looking statements about what may happen in the future. They include statements regarding our current beliefs, goals, and expectations about matters such as our expected financial position and operating results, our business strategy, and our financing plans. These statements can sometimes be identified by our use of forward-looking words such as “anticipate,” “estimate,” “expect,” “intend,” “may,” “will,” and similar expressions. We cannot guarantee that our forward-looking statements will turn out to be correct or that our beliefs and goals will not change. Our actual results could be very different from and worse than our expectations for various reasons. You are urged to carefully consider these factors, as well as other information contained in this Form 10-Q and in our other periodic reports and documents filed with the United States Securities and Exchange Commission (“SEC”).

In our Form 10-K filed with the SEC for the year ended December 31, 2008 and in the footnotes to the unaudited financial statements, included elsewhere in this report, we have identified critical accounting policies and estimates for our business.

Plan of Operation

We are a "blank check" company, formed on January 28, 2000, to effect a combination with a yet unidentified operating business which we expect to have significant growth potential. To date, our efforts have been limited to organizational activities. We have no definitive agreements with any prospective business combination candidates nor are there any assurances that we will find a suitable business with which to combine. The implementation of our business objectives is wholly contingent upon a business combination and/or the successful sale of our securities. We intend to utilize the proceeds of any offering, any sales of equity securities or debt securities, bank and other borrowings or a combination of those sources to effect a business combination with a target business which we believe has significant growth potential.

Our officers only devote a small portion of their time (less than 10%) to our affairs on a part-time or as-needed basis. We use outside consultants, advisors, attorneys and accountants as necessary, none of which is hired on a retainer basis. We do not anticipate hiring any full-time employees so long as we are seeking and evaluating business opportunities. As a result of our limited resources, unless additional financing is obtained, we expect to have sufficient proceeds to effect only a single business combination. Accordingly, the prospects for our success will be entirely dependent upon the future performance of a single business. Unlike certain entities that have the resources to consummate several business combinations or entities operating in multiple industries or multiple segments of a single industry, we will not have the resources to diversify our operations or benefit from the possible spreading of risks or offsetting of losses. A target business may be dependent upon the development or market acceptance of a single or limited number of products, processes or services, in which case there will be an even higher risk that the target business will not prove to be commercially viable.

We do not expect our present management to have any managerial role in our company following a business combination. Although we intend to scrutinize closely the management of a prospective target business in connection with our evaluation of a business combination with a target business, our assessment of management may be incorrect. We cannot assure you that we will find a suitable business with which to combine.

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Results of Operations

Three Month Period Ended March 31, 2009 Compared To Three Month Period Ended March 31, 2008

Because we currently do not have, nor have we ever had since inception, any business operations, we had no revenues during the three month periods ended March 31, 2009 and 2008, respectively. Total expenses for the three month periods ended March 31, 2009 decreased to $5,000, as compared to $5,071 for the same period in 2008. The expenses incurred in 2009 and 2008 constituted professional and filing fees.

Liquidity and Capital Resources

Our principal source of operating capital recently has been provided in the form of loans and capital contributions from our stockholders. We do not have any revenues from any operations absent a merger or other combination with an operating company and no assurance can be given that such a merger or other combination will occur or that we can engage in any public or private sales of our equity or debt securities to raise working capital. We are dependent upon future loans from our present stockholders or management and there can be no assurances that our present stockholders or management will make any loans to us. At March 31, 2009, we had cash of $4,982 and negative working capital of $3,295.

Our accountants issued an explanatory paragraph in their report on our financial statements as of and for the fiscal year ended December 31, 2008. The report stated that we are a development stage company and our lack of financial resources and liquidity raise substantial doubt about our ability to continue as a going concern.

Our present material commitments are professional and administrative fees and expenses associated with the preparation of filings with the SEC and other regulatory requirements. In the event that we engage in any merger or other combination with an operating company, it is likely that we will have additional material commitments.

Off-Balance Sheet Arrangements

As of March 31, 2009, we have no off-balance sheet arrangements such as guarantees, retained or contingent interest in assets transferred, obligation under a derivative instrument and obligation arising out of or a variable interest in an unconsolidated entity.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

As a smaller reporting company we are not required to provide the information required by this Item.

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ITEM 4T. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures. Our management, with the participation of our president and our chief financial officer, carried out an evaluation of the effectiveness of our “disclosure controls and procedures” (as defined in the Securities Exchange Act of 1934 (the “Exchange Act”) Rules 13a-15(e) and 15-d-15(e)) as of the end of the period covered by this report (the “Evaluation Date”). Based upon that evaluation, our president and our chief financial officer concluded that, as of the Evaluation Date, our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to our management, including our president and our chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting. There were no changes in our internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 6. EXHIBITS.

Exhibit No.		Description

10.1		Occupancy Agreement between Twin Lakes Delaware, Inc. and Kirk M. Warshaw, LLC (1)

31.1		Certification of President pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1		Certification of President pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2		Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

________________
(1) Filed on February 20, 2009, as Exhibit 10.1 to the Annual Report on Form 10-K for the fiscal year ended December 31, 2008.

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SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Twin Lakes Delaware, Inc.

Dated: May 7, 2009		/s/ Arnold P. Kling
		--------------------------------------------
		Arnold P. Kling, President
		(Principal Executive Officer)

Dated: May 7, 2009		/s/ Kirk M. Warshaw
		--------------------------------------------
		Kirk M. Warshaw, Chief Financial Officer
		(Principal Financial and Accounting Officer)

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TWIN LAKES INC 10-Q