Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the pastpreceding 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.

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):

The number of shares outstanding of the issuer’s common stock as of May 11,August 7, 2008 was 71,861,25974,920,910 shares of common stock.

The accompanying financial statements have been prepared by Energtek Inc. ("Energtek" or "the Company") without audit.and are unaudited.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31,June 30, 2008 and 2007 and for the periods then ended have been made.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2007 audited financial statements.statements, which were filed with the Securities and Exchange Commission on March 27, 2008 with the Company’s annual report on Form 10-K.  The results of operations for the periods ended March 31,June 30, 2008 and 2007 are not necessarily indicative of the operating results for the full year.

Energtek provides proprietary solutions to meet the technical, economical and logistical challenges of Natural Gas (NG) delivery for vehicles worldwide, with a major focus on the 2- and 3-wheel vehicles market.

The Company is considered to be a development stage company and as such the financial statements presented herein are presented in accordance with Statement of Financial Accounting Standards (“SFAS”) No. 7 “Accounting and Reporting by Development Stage Enterprises”.

In September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements” (“SFAS 157”), which defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. SFAS 157 was effective for us on January 1, 2008 for all financial assets and liabilities and for nonfinancial assets and liabilities recognized or disclosed at fair value in our Condensed Consolidated Financial Statements on a recurring basis (at least annually). For all other nonfinancial assets and liabilities, SFAS 157 is effective for us on January 1, 2009. As it relates to our non-pension financial assets and liabilities and for nonfinancial assets and liabilities recognized or disclosed at fair value in our Condensed Consolidated Financial Statements on a recurring basis (at least annually), the adoption of SFAS 157 did not have a material impact on our Condensed Consolidated Financial Statements. We are still in the process of evaluating the impact that SFAS 157 will have on our pension related financial assets and our nonfinancial assets and liabilities not valued on a recurring basis (at least annually).

As used in this Form 10-Q, references to the “Company”, "Corporation", “Energtek,” “we,” “our” or “us” refer to Energtek Inc. or to Energtek Inc. together with its subsidiaries, unless the context otherwise indicates.

This Management’s Discussion and Analysis or Plan of OperationFinancial Condition and Results of Operations should be read in conjunction with the financial statements and the notes thereto.thereto included elsewhere in this Form 10-Q.

This Form 10-Q contains forward-looking statements. For this purpose, any statements contained in this Form 10-Q that are not statements of historical fact may be deemed to be forward-looking statements. You can identify forward-looking statements byas those that are not historical in nature, particularly those that use terminology such as “may,” “will,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “continue” or the negative of these similar terms. In evaluating these forward-looking statements, you should consider various factors, including the following: (a) those risks and uncertainties related to general economic conditions, (b) whether we are able to manage our planned growth efficiently and operate profitable operations, (c) whether we are able to generate sufficient revenues or obtain financing to sustain and grow our operations, (d) whether we are able to successfully fulfill our primary requirements for cash. The Company’s actual results may differ significantly from the results projected in the forward-looking statements. The Company assumes no obligation to update forward-looking statements, except as otherwise required under the applicable federal securities laws.

We were incorporated under the laws of the state of Florida on November 18, 1998 under the name “Elderwatch, Inc.” On September 20, 2006, we changed our Company’s state of incorporation from Florida to Nevada by the merger of Elderwatch, Inc. with and into its wholly-owned subsidiary, Energtek Inc., a Nevada corporation, which was formed for such purpose. Simultaneously with such merger, we changed our Company name from "Elderwatch, Inc." to "Energtek Inc." in order to better reflect our proposed business operations. We also increased the number of our authorized shares of authorized common stock from 50,000,000 shares to 250,000,000 shares, and we decreased the authorized number of our shares of authorized preferred stockshares from 10,000,000 shares to 5,000,000 shares. On October 30, 2006, we implemented a one for three forward stock split of our common stock and further increased the authorized shares of our common stock to 750,000,000 shares, par value $0.001.

On or about May 24, 2006, we changed our focusdecided to engage in the field of clean energy technologies with specialan emphasis being put on the field of Natural Gas Vehicles (NGV).(“NGV”) and Natural Gas transportation. We are currently preparing our infrastructure for operations through some of our subsidiaries and we are also looking at various alternatives in this fieldsubsidiaries. We intend to focus on:

The Company enables the conversion of vehicles, especially two and three wheelers, into natural gas powered vehicles, allowing this much cleaner and cheaper fuel to replace other more expensive and environmentally damaging fuel sources. 

We currently have no business operations or revenues. We are devoting substantially all of our efforts to establishing aour new business. In our efforts to establish suchour new business, our management has been engaged principally in the following activities: creating, analyzing and fostering business opportunities,raising funds; investigating clean energy technologies and related business opportunities; analyzing proposed or identified opportunities; entering into agreements for pursuingto pursue such opportunities; identifying management and industry specialists; and acquiring operational and technological assets.

We have also entered into agreements with consultants for the provision of consulting services related to the identification and assessment of clean energy technologies and opportunities. We currently have sixseven subsidiaries and one affiliate. All of our subsidiaries and affiliatesour affiliate are in the development stage.

We have the following sixseven subsidiaries:

We also own, through Moregastech LLC, 50% of the issued and outstanding shares of Moregastech India Private Limited, a company registered in India.

We intend to further acquire or establish additional subsidiaries in selected countries, in order to sustain our business activities in such countries.

On March 17, 2008, the Company executed a Memorandum of Understanding with Confidence Petroleum India Ltd. ("Confidence"), a company traded on the Bombay Stock Exchange, which has been operating for several years in India manufacturing cylinders for liquefied petroleum gas and is among the major manufacturers in Asia of such cylinders. Confidence and the Company willintended to form a joint venture for fostering the introduction of natural gas on-board vehicle systems, for the supply of natural gas in India and surrounding countries through the use of bulk transportation systems and for manufacturing and marketing high pressure cylinders and ancillary equipment. Confidence shallcommitted to invest $2,000,000 in the venture in exchange for, among others, approximately 50% interest in Primecyl.

Over the next twelve months, we intend to continue investing and engaging mainly in the field of natural gas and clean energy technologies, initially focusing on activities related to natural gas. We intend to develop the activities in which we have invested and increase our research and development efforts. We also intend to continue analyzing a series of issues, markets, projects and investments proposed to us in areas related to clean energy technologies. We anticipate entering into additional agreements with experts and consultants in the relevant areas, in order to perform evaluations of the proposals. Such evaluation process may include in some cases the performance of evaluation experiments, which may require entering into subcontracting agreements with laboratories and companies capable of performing the same. We expect that once a proposal/project is identified as being of interest to us, we will enter into development activities and/or will purchase a stake in such activities and/or will invest in such activities.areas.

We are contemplating the opening of subsidiaries in the Philippines and in the European Union. The expansion of activities that already took place and thosethe expansion that areis planned will require the expansion of the teamspersonnel of the Company and its subsidiaries.

The consolidated financial statementsCompany has not generated any revenues to date. Our net loss in the six months ended June 30, 2008 was $2,101,056, an increase of 15.2% as compared to our net loss of $1,823,216 in the six months ended June 30, 2007. In the three months ended June 30, 2008 our net loss was $1,326,190, an increase of 7.1% as compared to our net loss of $1,237,994 in the three months ended June 30, 2007. The increase in losses resulted primarily from increased operational activity and related expenses.

The Company’s expenses include consulting expenses, research and development expenses and general and administrative expenses. Total operating expenses increased by 14.8% to $2,074,772 in the accountssix months ended June 30, 2008, from $1,806,606 in the six months ended June 30, 2007. In the three months ended June 30, 2008 total operating expenses were $1,306,206, an increase of Energtek, Inc.7.4% from operating expenses on $1,216,703 in the three months ended June 30, 2007. The increases in operating expenses resulted primarily from the expansion of the Company’s operations in new areas and allcountries.

The Company incurs consulting expenses in connection with the analysis of its wholly ownedbusiness opportunities. In the six months ended June 30, 2008 we incurred $155,219 in consulting expenses, a decrease of 50% as compared to consulting expenses of $310,397 in the six month period ended June 30, 2007. In the three month period ended June 30, 2008 we incurred $56,963 in consulting expenses, a decrease of 48% as compared to consulting expenses of $108,598 in the three month period ended June 30, 2007. These decreases resulted primarily from an increase in the number of employees of the Company and majority-owned subsidiaries.less reliance on independent consultants.

For the fiscal quarter ended March 31,As of June 30, 2008, the Company has recorded a net loss of $774,866 and an accumulated deficit of $5,581,227.$6,907,417. The Company's consolidated financial statements were prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company is working on the basis of a budget that will enable it to operate during the coming year. However the Company will need additional working capital for its future planned expansion activities and to service its debt, which raises doubt about its ability to continue as a going concern. Continuation of the Company as a going concern is dependent upon obtaining sufficient capital to be successful in that effort. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty.

As a high pressure steel seamless Cylinder Heat Treatment Furnace Line (the “Agreement”). UkCyl is to pay a total purchase price of $190,000, which will be paid in three installments at specified intervals. The first installment,smaller reporting company in the amount of $85,000, was paid to Dynatech within 10 weeks following execution of the Agreement.

There have been no material changes to the risks to our business described in our Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC on March 27, 2008.

None.

None.

None.

On May 4,July 7, 2008, the BoardRegistrant’s board of Directorsdirectors authorized the redemption of 2,100,000 outstanding Class B warrants at a redemption price of $0.05 per warrant, for the aggregate amount of $105,000, pursuant to the terms of the Company has approved issuance of up to 7,500,000 sharesRegistrant’s warrant agreements with the holders of the Company's common stock in consideration of Employee Stock Option Plans ("ESOP") of the Company and its subsidiaries, out of which 2,700,000 are reserved for issuance to Israeli resident employees under the Israeli ESOP. The remaining 5,200,000 shares of common stock are reserved for issuance under future ESOPs.Class B Warrants. 

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