U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X]      Quarterly  Report under Section 13 or 15(d) of the Securities  Exchange
         Act of 1934

                For the quarterly period ended November 30, 2007

[_]      Transition Report under Section 13 or 15(d) of the Exchange Act for the
         Transition Period from ________ to ___________

                       Commission File Number: 333-123611

                              FUTURA PICTURES, INC.
        (Exact name of small business issuer as specified in its charter)

         Delaware                                            56-2495218
(State or other jurisdiction of                           (I.R.S. Employer
 incorporation or organization)                          Identification No.)

                       17337 Ventura Boulevard, Suite 208
                            Encino, California 91316
                    Issuer's Telephone Number: (818) 784-0040
            (Address and phone number of principal executive offices)



         Check whether the issuer (1) filed all reports  required to be filed by
Section  13 or 15(d) of the  Exchange  Act  during  the past 12 months  (or 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 [_]

         Check whether the issuer is a "shell  company" as defined in Rule 12b-2
of the Securities Exchange Act of 1934. Yes [_] No [X]

         As of November  30, 2007 the issuer had of  1,538,750  shares of common
stock outstanding.

         There currently is no public market for the Company's Stock.

         Traditional Small Business Disclosure Format (check one)

                                 Yes [_]  No [X]


<PAGE>


                            INDEX TO QUARTERLY REPORT
                                 ON FORM 10-QSB



PART I   FINANCIAL INFORMATION
                                                                            PAGE
                                                                            ----
Item 1.  Financial Statements (Unaudited)
         Condensed Balance Sheets
             November 30, 2007 and February 28, 2007                           4
         Condensed Statements of Operations
             For the Three and Nine Month Periods
             Ended November 30, 2007 and 2006 and from
             December 10, 2003 (Date of Inception) to
             November 30, 2007                                                 5
         Condensed Statements of Shareholders' Equity (Deficit)
             From December 10, 2003 (Date of Inception)
             to November 30, 2007                                            6-9
         Condensed Statements of Cash Flows
             For the Nine Months  Ended  November 30, 2007 and 2006
             and from December 10, 2003 (Date of Inception) to
             November 30, 2007                                             10-11
         Notes to Financial Statements                                     12-15

Item 2.  Management's Discussion and Analysis or Plan
             of Operation                                                  16-20

Item 3.  Controls and Procedures                                           20-21


PART II  OTHER INFORMATION

Item 1.  Legal Proceedings                                                    22

Item 2.  Changes in Securities and Use of Proceeds                            22

Item 3.  Defaults upon Senior Securities                                      22

Item 4.  Submission of Matters to a Vote of Security Holders                  22

Item 5.  Other Information                                                    22

Item 6.  Exhibits                                                             22

Signatures                                                                    23


                                       2
<PAGE>



                                     PART I
                              FINANCIAL INFORMATION

ITEM 1.       FINANCIAL STATEMENTS

                (Financial Statements Commence on Following Page)


                                       3
<PAGE>


<TABLE>
                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            CONDENSED BALANCE SHEETS

<CAPTION>

                                                               NOVEMBER 30,
                                                                   2007        FEBRUARY 28,
                                                               (Unaudited)         2007
                                                               ------------    ------------
<S>                                                            <C>             <C>
ASSETS

   Cash ....................................................   $      9,910    $      5,151
   Prepaid expenses ........................................          2,000            --
                                                               ------------    ------------

        TOTAL ASSETS .......................................   $     11,910    $      5,151
                                                               ============    ============




LIABILITIES

   Accrued expenses ........................................   $      5,652    $      3,937
   Accrued interest - related party ........................             27             823
   Loan payable - related party ............................          3,899          11,500
                                                               ------------    ------------

        TOTAL LIABILITIES ..................................          9,578          16,260

STOCKHOLDERS' EQUITY (DEFICIT)

   Common stock, par value $0.0001 per share
        Authorized - 100,000,000 shares
        Issued and outstanding - 1,538,750 shares
        and 1,352,750 shares, respectively .................            154             135
   Additional paid-in capital ..............................        206,996         138,615
   Deficit accumulated during the development stage ........       (204,818)       (149,859)
                                                               ------------    ------------

        TOTAL STOCKHOLDERS' EQUITY (DEFICIT) ...............          2,332         (11,109)
                                                               ------------    ------------

        TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)   $     11,910    $      5,151
                                                               ============    ============
</TABLE>


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


                                       4
<PAGE>


<TABLE>
                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                       CONDENSED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
                                                                                                            FROM DECEMBER
                                            FOR THE THREE   FOR THE THREE   FOR THE NINE    FOR THE NINE   10, 2003 (DATE
                                            MONTHS ENDED    MONTHS ENDED    MONTHS ENDED    MONTHS ENDED    OF INCEPTION)
                                            NOVEMBER 30,    NOVEMBER 30,    NOVEMBER 30,    NOVEMBER 30,     TO NOVEMBER
                                                2007            2006            2007            2006          30, 2007
                                            ------------    ------------    ------------    ------------    ------------
<S>                                         <C>             <C>             <C>             <C>             <C>
DEVELOPMENT STAGE EXPENSES

   Selling, general and administrative ..   $     18,921    $     14,872    $     54,159    $     47,318    $    196,618
   Directors' fees, non-cash compensation           --              --              --              --             5,000
                                            ------------    ------------    ------------    ------------    ------------

       TOTAL DEVELOPMENT STAGE EXPENSES .         18,921          14,872          54,159          47,318         201,618
                                            ------------    ------------    ------------    ------------    ------------

(LOSS) BEFORE INCOME TAXES ..............        (18,921)        (14,872)        (54,159)        (47,318)       (201,618)

   Income tax expense ...................           --              --               800            --             3,200

NET (LOSS) ..............................   $    (18,921)   $    (14,872)   $    (54,959)   $    (47,318)   $   (204,818)
                                            ============    ============    ============    ============    ============

NET (LOSS) PER COMMON SHARE

   Basic and diluted ....................   $      (0.01)   $      (0.01)   $      (0.04)   $      (0.04)   $      (0.16)
                                            ============    ============    ============    ============    ============

WEIGHTED AVERAGE NUMBER OF COMMON
   SHARES OUTSTANDING

   Basic and diluted ....................      1,527,761       1,295,951       1,433,848       1,273,398       1,299,146
                                            ============    ============    ============    ============    ============
</TABLE>


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


                                       5
<PAGE>


<TABLE>
                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
             CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
                      FOR THE PERIOD FROM DECEMBER 10, 2003
                    (DATE OF INCEPTION) TO NOVEMBER 30, 2007
                                   (UNAUDITED)
<CAPTION>
                                                                                DEFICIT
                                                                              ACCUMULATED        TOTAL
                                         COMMON STOCK           ADDITIONAL    DURING THE      STOCKHOLDERS'
                                 ---------------------------     PAID-IN      DEVELOPMENT        EQUITY
                                    SHARES         AMOUNT        CAPITAL         STAGE         (DEFICIT)
                                 ------------   ------------   ------------   ------------    ------------
<S>                                 <C>         <C>            <C>            <C>             <C>
Issuance of common stock for
   cash - January 9, 2005 ....      1,000,000   $        100   $      9,900   $       --      $     10,000

Issuance of common stock for
   directors' fees -
   January 9, 2005 ...........         50,000              5          4,995           --             5,000

Issuance of common stock for
   loan commitment -
   related party -
   February 16, 2005 .........        190,000             19         18,981           --            19,000

Issuance of common stock for
   screenplay options -
   February 28, 2005 .........         10,000              1            999           --             1,000

Net (loss) for the year ended
   February 28, 2005 .........           --             --             --           (5,852)         (5,852)
                                 ------------   ------------   ------------   ------------    ------------

Balance, February 28, 2005 ...      1,250,000   $        125   $     34,875   $     (5,852)   $     29,148
                                 ============   ============   ============   ============    ============

Contributed services .........           --             --           41,600           --            41,600

Net (loss) for the year ended
   February 28, 2006 .........           --             --             --          (78,776)        (78,776)
                                 ------------   ------------   ------------   ------------    ------------

Balance, February 28, 2006 ...      1,250,000   $        125   $     76,475   $    (84,628)   $     (8,028)
                                 ============   ============   ============   ============    ============
</TABLE>


                                       6
<PAGE>


<TABLE>
                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
             CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
                      FOR THE PERIOD FROM DECEMBER 10, 2003
                    (DATE OF INCEPTION) TO NOVEMBER 30, 2007
                                   (UNAUDITED)
<CAPTION>
                                                                                DEFICIT
                                                                              ACCUMULATED        TOTAL
                                         COMMON STOCK           ADDITIONAL    DURING THE      STOCKHOLDERS'
                                 ---------------------------     PAID-IN      DEVELOPMENT        EQUITY
                                    SHARES         AMOUNT        CAPITAL         STAGE         (DEFICIT)
                                 ------------   ------------   ------------   ------------    ------------
<S>                                 <C>         <C>            <C>            <C>             <C>
Issuance of common stock for
   cash - June 14, 2006 ......         26,000              2          5,198           --             5,200

Issuance of common stock for
   cash - August 1, 2006 .....          7,500              1          1,499           --             1,500

Issuance of common stock for
   cash - September 15, 2006 .          3,500           --              700           --               700

Issuance of common stock for
   cash - October 12, 2006 ...          8,000              1          1,599           --             1,600

Issuance of common stock for
   cash - November 2, 2006 ...         13,750              2          2,748           --             2,750

Issuance of common stock for
   cash - November 21, 2006 ..         10,000              1          1,999           --             2,000

Issuance of common stock for
   cash - January 11, 2007 ...         33,000              3          6,597           --             6,600

Issuance of common stock for
   cash - February 27, 2007 ..          1,000           --              200           --               200

Contributed services .........           --             --           41,600           --            41,600

Net (loss) for the year ended
   February 28, 2007 .........           --             --             --          (65,231)        (65,231)
                                 ------------   ------------   ------------   ------------    ------------

Balance, February 28, 2007 ...      1,352,750   $        135   $    138,615   $   (149,859)   $    (11,109)
                                 ============   ============   ============   ============    ============
</TABLE>


                                       7
<PAGE>


<TABLE>
                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
             CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
                      FOR THE PERIOD FROM DECEMBER 10, 2003
                    (DATE OF INCEPTION) TO NOVEMBER 30, 2007
                                   (UNAUDITED)
<CAPTION>
                                                                                DEFICIT
                                                                              ACCUMULATED        TOTAL
                                         COMMON STOCK           ADDITIONAL    DURING THE      STOCKHOLDERS'
                                 ---------------------------     PAID-IN      DEVELOPMENT        EQUITY
                                    SHARES         AMOUNT        CAPITAL         STAGE         (DEFICIT)
                                 ------------   ------------   ------------   ------------    ------------
<S>                                 <C>         <C>            <C>            <C>             <C>
Issuance of common stock for
   cash - March 2, 2007 ......          5,000              1            999           --             1,000

Issuance of common stock for
   cash - April 13, 2007 .....          2,500           --              500           --               500

Issuance of common stock for
   cash - April 26, 2007 .....          2,500           --              500           --               500

Issuance of common stock for
   cash - June 1, 2007 .......          6,000              1          1,199           --             1,200

Issuance of common stock for
   cash - June 5, 2007 .......         10,000              1          1,999           --             2,000

Issuance of common stock for
   cash - June 8, 2007 .......         15,000              2          2,998           --             3,000

Issuance of common stock for
   cash - June 20, 2007 ......          2,500           --              500           --               500

Issuance of common stock for
   cash - July 3, 2007 .......         22,500              2          4,498           --             4,500

Issuance of common stock for
   cash - July 5, 2007 .......          7,500              1          1,499           --             1,500

Issuance of common stock for
   cash - July 26, 2007 ......          5,000           --            1,000           --             1,000

Issuance of common stock for
   cash - August 30, 2007 ....          7,500              1          1,499           --             1,500
</TABLE>


                                       8
<PAGE>


<TABLE>
                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
             CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
                      FOR THE PERIOD FROM DECEMBER 10, 2003
                    (DATE OF INCEPTION) TO NOVEMBER 30, 2007
                                   (UNAUDITED)
<CAPTION>
                                                                                DEFICIT
                                                                              ACCUMULATED        TOTAL
                                         COMMON STOCK           ADDITIONAL    DURING THE      STOCKHOLDERS'
                                 ---------------------------     PAID-IN      DEVELOPMENT        EQUITY
                                    SHARES         AMOUNT        CAPITAL         STAGE         (DEFICIT)
                                 ------------   ------------   ------------   ------------    ------------
<S>                                 <C>         <C>            <C>            <C>             <C>
Issuance of common stock for
   cash - September 10, 2007 .        100,000             10         19,990           --            20,000

Contributed services .........           --             --           31,200           --            31,200

Net (loss) for the nine months
   ended November 30, 2007 ...           --             --             --          (54,959)        (54,959)
                                 ------------   ------------   ------------   ------------    ------------

Balance, November 30, 2007 ...      1,538,750   $        154   $    206,996   $   (204,818)   $      2,332
                                 ============   ============   ============   ============    ============
</TABLE>


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


                                       9
<PAGE>


<TABLE>
                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<CAPTION>
                                                                                          FROM DECEMBER
                                                           FOR THE NINE    FOR THE NINE   10, 2003 (DATE
                                                           MONTHS ENDED    MONTHS ENDED    OF INCEPTION)
                                                           NOVEMBER 30,    NOVEMBER 30,   TO NOVEMBER 30,
                                                               2007            2006            2007
                                                           ------------    ------------    ------------
<S>                                                        <C>             <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net (loss) ..........................................   $    (54,959)   $    (47,318)   $   (204,818)
   Adjustments to reconcile net (loss) to net cash
     (used) by operating activities:
         Common stock issued for directors' fees .......           --              --             5,000
         Contributed services ..........................         31,200          31,200         114,400
         Amortization expense ..........................           --              --            20,000
         Changes in operating assets and liabilities:
              Prepaid expenses .........................         (2,000)           --            (2,000)
              Accrued expenses .........................            919          (1,183)          5,679
                                                           ------------    ------------    ------------

     NET CASH (USED) BY OPERATING ACTIVITIES ...........        (24,840)        (17,301)        (61,739)
                                                           ------------    ------------    ------------


CASH FLOWS FROM FINANCING ACTIVITIES:
   Proceeds from loan payable - related party ..........           --             9,000          11,500
   Repayments on loan payable - related party ..........         (7,601)           --            (7,601)
   Proceeds from sale of common stock ..................         37,200          13,750          67,750
                                                           ------------    ------------    ------------

     NET CASH PROVIDED BY FINANCING ACTIVITES ..........         29,599          22,750          71,649
                                                           ------------    ------------    ------------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ...          4,759           5,449           9,910

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD          5,151             112            --
                                                           ------------    ------------    ------------

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD .....   $      9,910    $      5,561    $      9,910
                                                           ============    ============    ============
</TABLE>


                                       10
<PAGE>


<TABLE>
                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                 CONDENSED STATEMENTS OF CASH FLOWS (CONTINUED)
                                   (UNAUDITED)

<CAPTION>
                                                                                          FROM DECEMBER
                                                           FOR THE NINE    FOR THE NINE   10, 2003 (DATE
                                                           MONTHS ENDED    MONTHS ENDED    OF INCEPTION)
                                                           NOVEMBER 30,    NOVEMBER 30,   TO NOVEMBER 30,
                                                               2007            2006            2007
                                                           ------------    ------------    ------------
<S>                                                        <C>             <C>             <C>
SUPPLEMENTAL DISCLOSURE OF
   CASH FLOW INFORMATION

   Interest paid .......................................   $       --      $       --      $       --
   Taxes paid ..........................................   $        800    $        800    $      2,571

SCHEDULE OF NON-CASH INVESTING AND
   FINANCING ACTIVITIES:

   Issuance of 50,000 shares of common stock for
   directors' fees .....................................   $       --      $       --      $      5,000

   Issuance of 190,000 shares of common stock
   for loan commitment .................................   $       --      $       --      $     19,000

   Issuance of 10,000 shares of common stock for
   screenplay options ..................................   $       --      $       --      $      1,000
</TABLE>


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


                                       11
<PAGE>


                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                     CONDENSED NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)


NOTE 1   BACKGROUND

         ORGANIZATION AND NATURE OF BUSINESS

         Futura Pictures,  Inc. (the "Company") was incorporated  under the laws
         of the state of Delaware on December 10,  2003.  The Company was formed
         to engage in the production  and the  co-financing  of motion  pictures
         whose  production  budgets are estimated to range between  $500,000 and
         $1,500,000,  produced  solely  for  the  distribution  directly  to the
         domestic and international home video markets.

         PRESENTATION

         The interim  financial  statements  of the Company are condensed and do
         not  include  some of the  information  necessary  to obtain a complete
         understanding  of the  financial  data.  Management  believes  that all
         adjustments  (consisting of only normal recurring  adjustments,  unless
         otherwise noted) necessary for a fair presentation of results have been
         included in the unaudited  financial  statements for the interim period
         presented.  Operating  results for the nine months  ended  November 30,
         2007 are not necessarily indicative of the results that may be expected
         for the year ended  February 28, 2008.  Accordingly,  your attention is
         directed to footnote  disclosures found in the February 28, 2007 Annual
         Report  and  particularly  to Note  1,  which  includes  a  summary  of
         significant accounting policies.

         USE OF ESTIMATES

         The  preparation of financial  statements in conformity with accounting
         principles  generally accepted in the United States of America requires
         management to make certain  estimates and  assumptions  that affect the
         reported  amounts and timing of revenues  and  expenses,  the  reported
         amounts  and   classification  of  assets  and  liabilities,   and  the
         disclosure of contingent  assets and  liabilities.  These estimates and
         assumptions  are based on the Company's  historical  results as well as
         management's  future  expectations.  The Company's actual results could
         vary materially from management's estimates and assumptions.

         UNCLASSIFIED BALANCE SHEET

         In accordance  with the provisions of AICPA Statement of Position 00-2,
         "ACCOUNTING  BY PRODUCERS OR  DISTRIBUTORS  OF FILMS",  the Company has
         elected to present an unclassified balance sheet.


                                       12
<PAGE>


                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
               CONDENSED NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (UNAUDITED)


NOTE 2   SIGNIFICANT  UNCERTAINTY REGARDING THE COMPANY'S ABILITY TO CONTINUE AS
         A GOING CONCERN AND MANAGEMENT PLANS

         The  accompanying  financial  statements  have been prepared on a going
         concern basis,  which  contemplates  the  realization of assets and the
         satisfaction  of  liabilities  in the normal  course of  business.  The
         Company's  current financial  resources are not considered  adequate to
         fund its planned  operations.  This condition raises  substantial doubt
         about its  ability to  continue as a going  concern.  The  accompanying
         financial  statements  do not include any  adjustments  relating to the
         recoverability  and  classification  of recorded  asset  amounts or the
         amounts  and  classification  of  liabilities  that might be  necessary
         should the Company be unable to continue as a going concern.

         The Company's  continuation  as a going concern  currently is dependent
         upon timely procuring significant external debt and/or equity financing
         to fund  its  immediate  and  near-term  operations,  and  subsequently
         realizing  operating  cash  flows  from  sales  of  its  film  products
         sufficient   to  sustain   its   longer-term   operations   and  growth
         initiatives,  including its desired  marketing  and new potential  film
         screenplays.

NOTE 3   DEVELOPMENT STAGE OPERATIONS

         As of November 30, 2007,  the Company was in the  development  stage of
         operations.  According to the Financial  Accounting  Standards Board of
         the Financial  Accounting  Foundation,  a development  stage Company is
         defined  as  a  company  that  devotes  most  of  its   activities   to
         establishing a new business  activity.  In addition,  planned principal
         activities  have  not  commenced,  or have  commenced  and have not yet
         produced significant revenue.

NOTE 4   RELATED PARTY TRANSACTION

         PREPAID LOAN COMMITMENT

         On February 16, 2005, the Company's President, Buddy Young, accepted an
         unsecured  promissory  note from the  Company  and agreed to lend up to
         $100,000  to the  Company to fund any cash  shortfalls.  The note bears
         interest at 8% and is due upon demand, no later than June 30, 2008. The
         outstanding balance was $3,899 as of November 30, 2007.

         CONSULTING AGREEMENT

         During September 2007, the Company entered into a consulting  agreement
         with Calvin  Young,  brother to the Company's  President,  Buddy Young,
         whereby  Calvin  Young  provides  the  Company  consulting  services in
         relation to the research and development of new documentaries.  Per the
         agreement,  the Company pays Calvin Young $2,000 per month and the term
         is six  months.  For the  nine  month  ended  November  30,  2007,  the
         Company's expense was $5,000 under this agreement.


                                       13
<PAGE>


                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
               CONDENSED NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (UNAUDITED)


NOTE 5   STOCKHOLDERS' DEFICIT

         During the nine months ended  November 30, 2007 the Company  issued the
         following shares of stock:

         March 2, 2007 - 5,000 shares of common stock to an unrelated  party, in
         exchange for $1,000 cash.

         April 13, 2007 - 2,500 shares of common stock to an unrelated party, in
         exchange for $500 cash.

         April 26, 2007 - 2,500 shares of common stock to an unrelated party, in
         exchange for $500 cash.

         June 1, 2007 - 6,000 shares of common stock to an unrelated  party,  in
         exchange for $1,200 cash.

         June 5, 2007 - 10,000 shares of common stock to an unrelated  party, in
         exchange for $2,000 cash.

         June 8, 2007 - 15,000 shares of common stock to an unrelated  party, in
         exchange for $3,000 cash.

         June 20, 2007 - 2,500 shares of common stock to an unrelated  party, in
         exchange for $500 cash.

         July 3, 2007 - 22,500 shares of common stock to an unrelated  party, in
         exchange for $4,500 cash.

         July 5, 2007 - 7,500 shares of common stock to an unrelated  party,  in
         exchange for $1,500 cash.

         July 26, 2007 - 5,000 shares of common stock to an unrelated  party, in
         exchange for $1,000 cash.

         August 30, 2007 - 7,500 shares of common  stock to an unrelated  party,
         in exchange for $1,500 cash.

         September  10, 2007 - 100,000  shares of common  stock to an  unrelated
         party, in exchange for $20,000 cash.


                                       14
<PAGE>


                              FUTURA PICTURES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
               CONDENSED NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (UNAUDITED)


         For the nine months ended  November 30, 2007,  the Company's  President
         devoted time to the  development  process of the Company.  Compensation
         expense  totaling  $31,200 has been  recorded for the nine months ended
         November 30, 2007.

NOTE 6   SUBSEQUENT EVENT

         On December 27, 2007, the Company  entered into a Production  Agreement
         (the  "Agreement") with the Hathaway Group to develop and produce a one
         hour television documentary (the "Project").  The material terms of the
         Agreement   are:  (a)  Registrant   will  receive   $150,000  as  total
         compensation  for writing,  shooting,  producing,  editing,  and in all
         respects  completing the Project in accordance with standard television
         broadcast  specifications;  (b) upon signing the Agreement,  Registrant
         will  receive  the initial  payment of $25,000,  with the balance to be
         paid in accordance with the Agreement's  materials  delivery  schedule;
         (c)  Registrant  shall  supervise  and be  responsible  for the  entire
         production  work, and shall arrange and pay for all materials and labor
         required to complete the Project;  and, (d)  Registrant  shall submit a
         script for the  Project no later  than March 31,  2008,  for review and
         approval, and complete the Project no later than December 31, 2008.


                                       15
<PAGE>


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

CRITICAL ACCOUNTING POLICIES

         Our discussion  and analysis of our financial  condition and results of
operations are based upon our statements, which have been prepared in accordance
with  accounting  principles  generally  accepted  in  the  United  States.  The
preparation  of these  financial  statements  requires us to make  estimates and
judgments that affect the reported amounts of assets, liabilities,  revenues and
expenses.  In consultation  with our Board of Directors,  we have identified one
accounting  policy that we believe is key to an  understanding  of our financial
statements.  This is an important  accounting policy that requires  management's
most difficult, subjective judgment.

         NON-CASH EQUITY ISSUANCES.  We periodically  issue shares of our common
stock in exchange for, or in settlement of, services.  Our management values the
shares issued in such transactions at either the then market value of our common
stock,   as  determined  by  the  Board  of  Directors  and  after  taking  into
consideration   factors  such  as  the  volume  of  shares   issued  or  trading
restrictions,  or the value of the services received,  whichever is more readily
determinable.

<TABLE>
SELECT FINANCIAL INFORMATION

<CAPTION>
                                  FOR THE THREE MONTHS ENDED      FOR THE NINE MONTHS ENDED
                                 NOVEMBER 30,    NOVEMBER 30,    NOVEMBER 30,    NOVEMBER 30,
                                     2007            2006            2007            2006
                                 ------------    ------------    ------------    ------------
<S>                              <C>             <C>             <C>             <C>
Statement of Operations Data

Total Revenue ................   $       --      $       --      $       --      $       --
Operating Loss ...............   $    (18,921)   $    (14,872)   $    (54,159)   $    (47,318)
Net loss after taxes .........   $    (18,921)   $    (14,872)   $    (54,959)   $    (47,318)
Net loss per share ...........   $      (0.01)   $      (0.01)   $      (0.04)   $      (0.04)

Balance Sheet Data

Total assets .................   $     11,910    $      5,561    $     11,910    $      5,561
Total liabilities ............   $      9,578    $     15,957    $      9,578    $     15,957
Stockholders' equity (deficit)   $      2,332    $    (10,396)   $      2,332    $    (10,396)
</TABLE>


                                       16
<PAGE>


THREE-MONTH  PERIOD ENDED NOVEMBER 30, 2007 COMPARED TO THREE-MONTH PERIOD ENDED
NOVEMBER 30, 2006

GENERAL

         The Company was incorporated on December 10, 2003. On January 19, 2005,
we  acquired an option on a  screenplay  entitled  CASS & KARRI,  written by Don
Tsuchiyama.   The  plot  revolves  around  two  mismatched  young  women,   both
accomplished  thieves,  who are hired to steal a high-tech  "invisibility" suit.
The  intrigue  is whether the people who hired them are the good guys they claim
to be...or is something  far more devious and dangerous  behind this caper?  The
two women,  despite mutual disgust for each other, need to figure it out to save
their skins.

         Additionally,  on  January  24,  2005,  we  acquired  an  option  on  a
screenplay entitled  LIFE-DOT-COM,  written by Frank Gillman.  The sci-fi comedy
plot revolves around a  brilliantly-creative  but workaholic  young woman who is
the writer of several internet-broadcast interactive "television" shows, all big
hits. Freak power surge,  along with the perfect alignment of the planets,  zaps
her into her own shows,  trapped in the world of the characters she has created.
The only way out is to find the balance that's been missing in her life.

REVENUES

         Since our inception in 2003,  we have had no revenues from  operations,
and do not anticipate having any revenues from operations during fiscal 2007.

EXPENSES

         To  date,   our  expenses   have   consisted   mainly  of  general  and
administrative   expenses.  The  main  components  being  contributed  services,
professional  services and the  amortization  of our loan commitment fee. During
the three month period ended  November 30, 2007,  we incurred a total of $18,921
general and  administrative  expenses.  This consisted of $10,400 of contributed
services by our CEO, Buddy Young,  $3,353 of professional  fees incurred for our
audited  financial  statements  and related  filings and $5,000 in research  and
development  fees for new screenplays.  We valued the contributed  services from
Buddy  Young at $100 per hour.  During the same  period in 2006,  we  incurred a
total of $14,872 general and administrative  expenses.  This consisted primarily
of  $10,400  of  contributed  services  by  our  CEO,  Buddy  Young,  $3,539  of
professional  fees  incurred for our audited  financial  statements  and related
filings.


                                       17
<PAGE>


NINE-MONTH  PERIOD ENDED  NOVEMBER 30, 2007 COMPARED TO NINE-MONTH  PERIOD ENDED
NOVEMBER 30, 2006

EXPENSES

         To  date,   our  expenses   have   consisted   mainly  of  general  and
administrative   expenses.  The  main  components  being  contributed  services,
professional  services and the  amortization  of our loan commitment fee. During
the nine month period ended  November 30, 2007,  we incurred a total of $54,159,
general and  administrative  expenses.  This consisted of $31,200 of contributed
services by our CEO, Buddy Young,  $17,311 of professional fees incurred for our
audited  financial  statements  and related  filings and $5,000 in research  and
development  fees for new screenplays.  We valued the contributed  services from
Buddy  Young at $100 per hour.  During the same  period in 2006,  we  incurred a
total of $47,318 general and administrative  expenses.  This consisted primarily
of  $31,200  of  contributed  services  by our  CEO,  Buddy  Young,  $13,804  of
professional  fees  incurred for our audited  financial  statements  and related
filings.

         While we cannot  guarantee the level of our expenses in the future,  we
anticipate  them to remain  constant  until  such time that  productions  of the
screenplays begin and we hire additional  employees and incur production related
expenses.

PLAN OF OPERATION

         Our main  focus  during the next 12 month  period  will be to focus our
activities  on raising the capital  necessary  to implement  our business  plan,
which we estimate to be  $300,000,  and to further  develop the two  screenplays
that we have  optioned.  Prior to that  time,  we will  utilize a portion of the
funds made  available to us under our agreement  with our President and majority
shareholder to borrow up to $100,000, to pay general and administrative expense.
The balance of the $100,000 that is not spent as described above may be utilized
as needed to take advantage of business opportunities that arise during the time
we are attempting to raise funds.  Such  opportunities may include the optioning
and development of additional  scripts and  participating in the co-financing of
films  produced  by  other  companies.  There  is no  assurance  that  any  such
opportunities  will  arise,  nor  whether  the  remaining  balance  of the funds
available to us will be sufficient to allow us to capitalize on them.

         In addition to further  developing the screenplays as mentioned  above,
we are  expanding  our  business  plan to include  our  serving as a  production
company for the making of television documentaries financed by third parties. As
of this date we do not have any such  contracts,  nor can there be any assurance
that we will be successful in our efforts to obtain any.

         If we are unable to raise at least $300,000, which we believe to be the
minimum  necessary  to  produce  one  of  our  optioned  screenplays,  or we are
unsuccessful  in our  efforts  to  obtain  contracts  to serve  as a  production


                                       18
<PAGE>


company, we plan to scale back our planned operations, or to totally abandon our
business plan and seek other  business  opportunities  in a related or unrelated
industry.  Such opportunities may include a reverse merger with a privately held
company. The result of which could cause the existing shareholder to be severely
diluted.

         Concurrent  with our  efforts to raise  funds as  outlined  above,  Mel
Powel,  our director of  acquisitions,  will work on further  developing the two
screenplays  that were  optioned by us during fiscal 2005. He will work with the
screenwriters  to mold the scripts  from their  present  form into the form that
best  combines  the  artistic  elements  with the  commercial  viability  of the
resulting film. A careful  analysis of the story told by the script will lead to
changes such as  strengthening  certain  aspects of the story by increasing  the
focus.   Additionally,   each  scene  must  be  analyzed  to  determine  if  its
presentation is best suited to its purpose--will the scene,  translate from page
to film,  make the point it is intended to make and move the audience in the way
the  audience  should be moved.  Overall,  the  script  development  process  is
designed to maximize the success of the film by tailoring the script to meet the
overall needs of the story,  the production,  and the market.  Should we need to
hire  additional  screenwriting  resources to help us complete this process,  we
estimate the cost to be approximately  $10,000, and to take two to three months.
Until funds are  received  as a result of this  offering,  we do not  anticipate
conducting any business activities other than as described above.

         We  anticipate  that the cash raised as a result of the sale of equity,
and the funds provided to us by our president and principal shareholder, under a
promissory  note dated  February 16, 2005,  will be  sufficient to fund our cash
requirements  to continue our efforts to raise funds through the sale of equity,
and to further the  development  of the  screenplays  as outlined  above.  As we
cannot predict whether we will be successful in raising the minimum $300,000, we
cannot  predict  whether we will ever be able to implement our plan of producing
or co-financing  motion pictures.  Prior to the Company earning any revenue from
operations,  we would need to achieve  the  following  milestones:  (a) raise at
least  $300,000  as  outlined  above,  (b)  sufficiently  develop  and prepare a
production  budget  for  either  one or  both  of the  screenplays  that we have
optioned so that they are ready for  filming,  (c) complete the filming and post
production of the motion  picture,  and (d) arrange for the  distribution of the
motion picture into the marketplace. We do not anticipate starting production on
a motion picture, or arranging for its distribution until late fiscal 2007.

         We  have  issued  10,000  shares  of our  common  stock  to each of our
directors  and  executive  officers,  excluding  Buddy Young,  our president and
principal  shareholder,  for services to the  Company.  These  services  include
advice on the  development of our business plan,  introduction to motion picture
production and  distribution  personnel,  assistance in the  preparation of this
Registration Statement, and negotiations with screenwriters.  We do not have any
consulting or employment agreements with any of our officers or directors.

         In February 2005,  the Company  issued to our  president,  Buddy Young,
190,000 shares as  compensation  for his agreement to lend up to $100,000 to the
Company to fund any cash shortfalls. The note bears interest at 8% and is due no
later than June 30, 2008.  As of November 30,  2007,  the balance  owing on this
agreement was $3,899. Except for the shares indicated here, no other shares have
been issued to any person or entity for services rendered to the Company.


                                       19
<PAGE>


EMPLOYEES

         Due to our very limited financial  resources,  the Company's President,
Buddy Young, along with our vice presidents Frank Capra Jr., Joseph Adelman, and
Mel Powell, our Director of acquisitions, all work on a part-time basis and have
not yet  received  any  cash  compensation  from the  Company,  we have no other
full-time  or  part-time  employees.  Additionally,  we  regularly  utilize  the
services   of   independent   firms  to  handle  our   accounting   and  certain
administrative  matters.  If and when our capital resource permits, we will hire
full-time professional and administrative employees.

LIQUIDITY AND CAPITAL RESOURCES

         We are a development stage company with no operating history.

         We had a cash balance of $9,910 on November 30, 2007. At this time, our
only known cash resource comes from an agreement with our President and majority
shareholder  to fund any  shortfall  in cash flow up to  $100,000 at 8% interest
through  June 30,  2008,  and the sale of equity.  As of  November  30, 2007 the
balance owing on this agreement is $3,899.  Payment of principal and interest is
due on this loan on June 30,  2008.  During the nine months  ended  November 30,
2007 we sold 186,000 shares of our common stock at $0.20 per share.  As a result
of the sale of these shares the Company received a total of $37,200.

         We believe the raising of funds  through the sale of equity and further
borrowings  from our  President  will be sufficient to satisfy our budgeted cash
requirements  through June 30, 2008. Further, our ability to pursue any business
opportunity  that  requires  us to make cash  payments  would also depend on the
amount of funds that we can secure from these various sources.

ITEM 3.  CONTROLS AND PROCEDURES

         The principal  executive officer and principal financial officer of the
Company,  who are the same person ("the Certifying Officer") with the assistance
of advisors,  evaluated  the  effectiveness  of the design and  operation of the
Company's   disclosure   controls   and   procedures   (as  defined  in  section
240.13a-14(c) and 240.15d-14(c)  under the Exchange Act) within 90 days prior to
the filing of this report.  Based upon the  evaluation,  the Certifying  Officer
concludes that the Company's disclosure controls and procedures are effective in
timely alerting management to material information relative to the Company which
is required to be disclosed in its periodic filings with the SEC.


                                       20
<PAGE>


         There were no significant changes in the Company's internal controls or
in other factors that could  significantly  affect these controls  subsequent to
the date of their  evaluation,  including any corrective  actions with regard to
significant deficiencies and material weaknesses.


                                       21
<PAGE>


                                     PART II
                                OTHER INFORMATION


ITEM 1.  LEGAL PROCEEDINGS  None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS  None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES  None.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         During the quarter ended  November 30, 2007, no matters were  submitted
         to the Company's security holders.

ITEM 5.  OTHER INFORMATION   None.

ITEM 6.  EXHIBITS

         31.1     Certification of CEO Pursuant to Securities Exchange Act Rules
                  13a-14 and 15d-14,  as Adopted  Pursuant to Section 302 of the
                  Sarbanes-Oxley Act of 2002.

         32.1     Certification  Pursuant to 18 U.S.C.  Section 1350, as Adopted
                  Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


                                       22
<PAGE>


                                   SIGNATURES

         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.

                                                FUTURA PICTURES, INC.
                                                (Registrant)


Dated: January 10, 2008                         /S/ BUDDY YOUNG
                                                --------------------------------
                                                Buddy Young, President and Chief
                                                Executive Officer


                                       23