UNITED STATES
                       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 June 30, 2007

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

       For the transition period from ________________ to _______________

                                     0-13738
                                     -------
                            (Commission file number)

                             THE SAINT JAMES COMPANY
                             -----------------------
        (Exact name of small business issuer as specified in its charter)

           North Carolina                                       56-1426581
           --------------                                       ----------
  (State or Other Jurisdiction                                (IRS Employer
of Incorporation or Organization)                          Identification No.)

              4505 Las Virgenes Road, Suite 210 Calabasas CA 91302
              ----------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (310) 739-5696
                                 --------------
                (Issuer's Telephone Number, Including Area Code)

                                       N/A
                                       ---
(Former  Name,  Former  Address and Former  Fiscal Year,  If Changed  Since Last
Report)

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 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 [ ] No [X]
Indicate by check mark whether the  Registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).
Yes [X]  No [ ]


State the number of shares  outstanding of each of the issue's classes of common
equity,  as of the latest  practicable date: As of February 11, 2008 the Company
had 11,999,057 shares of common stock issued and outstanding.

Transitional Small Business Disclosure Format (check one): Yes [ ] No [X]


<PAGE>
<TABLE>
<CAPTION>




                             THE SAINT JAMES COMPANY
                                      Index
<S>                                                                                           <C>

                                                                                               Page
                                                                                              Number

PART I.    FINANCIAL INFORMATION                                                                 3

Item 1.    Financial Statements                                                                  3

           Balance Sheet as of June 30, 2007 (unaudited)                                         3

           Statements of Operations  for the three and six months ended June 30,
           2007 and 2006 and the period from January 1, 1999
            to June 30, 2007 (unaudited)                                                         4

           Statement of Stockholders' Deficit for the period
           from January 1, 1999 to June 30, 2007 (unaudited)                                     5

           Statements  of Cash Flows for the six months  ended June 30, 2007 and
           2006 and the period from January 1, 1999
           to June 30, 2007 (unaudited)                                                          6
           Notes to Financial Statements (unaudited)                                             7

Item 2.    Management's Discussion and Analysis or Plan of Operations                           10

Item 3.    Controls and Procedures                                                              10


PART II.   OTHER INFORMATION                                                                    11

Item 1.    Legal Proceedings                                                                    11

Item 2.    Unregistered Sales of Equity and Use of Proceeds                                     11

Item 3.    Defaults Upon Senior Securities                                                      11

Item 4.    Submission of Matters to a Vote of Security Holders                                  11

Item 5.    Other Information                                                                    11

Item 6.    Exhibits                                                                             11


SIGNATURES                                                                                      12

</TABLE>


<PAGE>



PART I.    FINANCIAL INFORMATION

ITEM 1.    FINANCIAL STATEMENTS

<PAGE>
<TABLE>
<CAPTION>

                             The Saint James Company
                          (A Development Stage Company)
                                  Balance Sheet
<S>                                                                                           <C>

                                                                                                  June 30,
                                                                                                    2007
                                                                                              -----------------
                                                                                                (unaudited)
               Assets
     Cash and cash equivalents                                                                             $ -
     Other assets                                                                                       50,000
                                                                                              -----------------
Total assets                                                                                          $ 50,000
                                                                                              =================


                  Liabilities and Stockholders' Deficit

Current liabilities
     Accounts payable                                                                                 $ 25,616
     Advances from related parties                                                                      53,003
     Accrued interest                                                                                   10,114
     Accrued judgment                                                                                    5,894

                                                                                              -----------------
Total current liabilities                                                                               94,627
                                                                                              -----------------

Commitment and contingencies                                                                                 -

Stockholders' deficit
     Preferred stock, $0.01 par value; 500,000
        shares authorized; none issued and outstanding                                                       -
     Common stock, $0.001 par value; 50,000,000                                                              -
        shares authorized; 11,999,057 issued and outstanding                                            11,999
     Additional paid-in capital                                                                      3,597,576
     Deficit accumulated during development stage                                                   (3,654,202)
                                                                                              -----------------
Total stockholders' deficit                                                                            (44,627)
                                                                                              -----------------
Tota liabilities and stockholders' deficit                                                            $ 50,000
                                                                                              =================

     The accompanying notes are an integral part of these financial statements.
</TABLE>

                                      F-1

<PAGE>
<TABLE>
<CAPTION>

                             The Saint James Company
                          (A Development Stage Company)
                            Statements of Operations
<S>                                   <C>                  <C>           <C>             <C>               <C>


                                                                                                             Development
                                                                                                           Stage - January 1,
                                              Three Months Ended                Six Months Ended               1999 to
                                            June 30,        June 30,       June 30,         June 30,          June 30,
                                              2007            2006           2007             2006              2007
                                        -----------------  ------------  --------------  ----------------  ----------------
                                          (unaudited)       (unaudited)    (unaudited)     (unaudited)       (unaudited)

Sales                                 $                -  $          -  $            -  $              -  $              -
Cost of Sales                                          -             -               -                 -                 -
                                        -----------------  ------------  --------------  ----------------  ----------------
Gross profit                                           -             -               -                 -                 -

Operating expenses
    Research and development                           -             -               -                 -                 -
    General and administrative                         -             -               -                 -           177,220
                                        -----------------  ------------  --------------  ----------------  ----------------
Total operating expenses                               -             -               -                 -           177,220
                                        -----------------  ------------  --------------  ----------------  ----------------
Loss from operation                                    -             -               -                 -          (177,220)
                                        -----------------  ------------  --------------  ----------------  ----------------
Other income (expense)
    Interest income                                    -             -               -                 -                 -
    Other income                                       -             -               -                 -             8,485
    Interest expense                                (171)         (170)           (341)             (341)           (5,236)
                                        -----------------  ------------  --------------  ----------------  ----------------
Total other income (expense)                        (171)         (170)           (341)             (341)            3,249
                                        -----------------  ------------  --------------  ----------------  ----------------
Income before taxes                                 (171)         (170)           (341)             (341)         (173,971)

Provision for taxes                                    -             -               -                 -                 -
                                        -----------------  ------------  --------------  ----------------  ----------------
Net loss                              $             (171) $       (170) $         (341) $           (341) $       (173,971)
                                        =================  ============  ==============  ================  ================
Net loss per shares - basic
 and diluted                          $                   $   *         $   *           $  *
                                        =================  ============  ==============  ================
Weighted average shares outsanding            11,999,057    11,999,057      11,999,057        11,999,057
                                        =================  ============  ==============  ================
    * Less than $(0.01) per share.

    The accompanying notes are an integral part of these financial statements

</TABLE>

                                      F-2

<PAGE>
<TABLE>
<CAPTION>
               The Saint James Company
            (A Development Stage Company)
         Statement of Stockholders' Deficit
                    June 30, 2007
                     (unaudited)
<S>                                                     <C>            <C>        <C>           <C>            <C>

                                                                                                  Deficit
                                                                                               Accumulated
                                                                                 Additional       During
                                                              Common Stock         Paid-in     Development
                                                           Shares       Amount    Capital         Stage           Total
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 1998                                   999,057      $ 999    $3,460,568   $ (3,480,232)    $ (18,665)

Net loss                                                           -          -             -         (6,115)       (6,115)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 1999                                   999,057        999     3,460,568     (3,486,347)      (24,780)

Net loss                                                           -          -             -        (22,670)      (22,670)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 2000                                   999,057        999     3,460,568     (3,509,017)      (47,450)

Net loss                                                           -          -             -         (4,382)       (4,382)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 2001                                   999,057        999     3,460,568     (3,513,399)      (51,832)

Net loss                                                           -          -             -         (4,314)       (4,314)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 2002                                   999,057        999     3,460,568     (3,517,713)      (56,146)

Capital contribution from Funet                                    -          -        27,239              -        27,239
Net loss                                                           -          -             -        (54,644)      (54,644)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 2003                                   999,057        999     3,487,807     (3,572,357)      (83,551)

Capital contribution from Funet                                    -          -        10,769              -        10,769
Net loss                                                           -          -             -        (47,640)      (47,640)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 2004                                   999,057        999     3,498,576     (3,619,997)     (120,422)
                                                        -------------  ---------  ------------  -------------  ------------

Issuance of common stock for purchased assets              5,000,000      5,000        45,000              -        50,000
Issuance of common stock for purchased services            6,000,000      6,000        54,000              -        60,000
Net loss                                                           -          -             -        (33,182)      (33,182)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 2005                                11,999,057     11,999     3,597,576     (3,653,179)      (43,604)
                                                        -------------  ---------  ------------  -------------  ------------

Net loss                                                           -          -             -           (682)         (682)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, December 31, 2006                                11,999,057     11,999     3,597,576     (3,653,861)      (44,286)
                                                        -------------  ---------  ------------  -------------  ------------
Net loss                                                                                                (341)         (341)
                                                        -------------  ---------  ------------  -------------  ------------
Balance, June 30, 2007                                    11,999,057   $ 11,999    $3,597,576   $ (3,654,202)    $ (44,627)
                                                        =============  =========  ============  =============  ============

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

</TABLE>

                                      F-3

<PAGE>
<TABLE>
<CAPTION>
                             The Saint James Company
                          (A Development Stage Company)
                            Statements of Cash Flows

<S>                                                       <C>                  <C>                <C>


                                                                                                       Development
                                                                                                   Stage - January 1,
                                                                     Six Months Ended                    1999 to
                                                                June 30,          June 30,              June 30,
                                                                  2007              2006                  2007
                                                             ---------------   ----------------   ----------------------
                                                              (unaudited)        (unaudited)           (unaudited)
Cash flows from operating activities
    Net loss                                              $            (341) $            (341) $              (173,971)
    Adjustments to reconcile net loss to net
      cash used by operating activities:
         Common stock issued for services                                 -                  -                   60,000
         Gain on settlement of judgment                                   -                  -                   (8,485)
      Changes in operating assets and liabilities
         Increase in accounts payable                                     -                  -                   25,617
         Increase in accrued interest                                   341                341                    5,114

                                                             ---------------   ----------------   ----------------------
Net cash used in operating activities                                     -                  -                  (91,725)
                                                             ---------------   ----------------   ----------------------

Cash flows from financing activities
    Advances from related parties                                         -                  -                   53,003
    Capital contribution from Funet                                       -                  -                   38,008

                                                             ---------------   ----------------   ----------------------
Net cash provided by financing activities                                 -                  -                   91,011
                                                             ---------------   ----------------   ----------------------
Net decrease in cash                                                      -                  -                     (714)

Cash at beginning of period                                               -                  -                      714

                                                             ---------------   ----------------   ----------------------
Cash at end of period                                     $               -  $               -  $                     -
                                                             ===============   ================   ======================

SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
    Issuance of 6,000,000 shares for acounts payable
      valued at $60,000                                   $               -  $               -  $                60,000
                                                             ===============   ================   ======================
    Issuance of 5,000,000 shares for artwork
      valued at $50,000                                   $               -  $               -  $                50,000
                                                             ===============   ================   ======================

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

</TABLE>


                                      F-4

<PAGE>
                             THE SAINT JAMES COMPANY
                                           (A DEVELOPMENT STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                                  JUNE 30, 2007
                                   (Unaudited)

NOTE 1 - ORGANIZATION AND LINE OF BUSINESS

On January 10,  1984,  the company  now known as The Saint  James  Company  (the
"Company") was incorporated  under the laws of the State of North Carolina under
the name Chem-Waste  Corporation (the "Company").  On July 19, 1984, the Company
changed its name to Radiation Disposal Systems, Inc. and on December 7, 2007, to
its current name.  The Company  re-entered the  development  stage on January 1,
1999 and is  currently a  development  stage  company  under the  provisions  of
Statement of Financial Accounting Standards ("SFAS") No. 7.

The Company  currently owns a collection of Sericells artwork known as the Ninja
Turtle Animation  Collection.  The Company is currently  exploring marketing and
sales opportunities in connection with the artwork.

NOTE 2 - BASIS OF  PRESENTATION,  MANAGEMENT'S  PLAN AND SUMMARY OF  SIGNIFICANT
ACCOUNTING POLICIES

BASIS OF PRESENTATION

Interim Presentation

The unaudited  consolidated financial statements have been prepared by The Saint
James  Company (the  "Company"),  pursuant to the rules and  regulations  of the
Securities and Exchange  Commission.  The information  furnished herein reflects
all adjustments  (consisting of normal recurring accruals and adjustments) which
are, in the opinion of  management,  necessary to fairly  present the  operating
results for the respective periods. Certain information and footnote disclosures
normally  present in annual  financial  statements  prepared in accordance  with
accounting  principles  generally  accepted in the United States of America have
been omitted pursuant to such rules and regulations.  These financial statements
should  be read  in  conjunction  with  the  audited  financial  statements  and
footnotes for the year ended December 31, 2006 included in the Company's  Annual
Report on Form 10-KSB.  The results of the six months ended June 30, 2007are not
necessarily  indicative  of the results to be expected  for the full year ending
December 31, 2006.

Development Stage Company

The Company has not earned any significant revenues from its limited operations.
Accordingly,  the  Company's  activities  have been  accounted for as those of a
"Development  Stage Enterprise" as set forth is Financial  Accounting  Standards
Board Statement No. 7 ("FASB 7"). Among the  disclosures  required by FASB 7 are
that the Company's financial  statements be identified as those of a development
stage  company,  and that the  statements  of  operation,  stockholders'  equity
(deficit)  and cash  flows  disclose  activity  since the date of the  Company's
inception.

                                      F-5

<PAGE>




Going Concern and Management's Plan

The  accompanying  financial  statements  have been prepared in conformity  with
accounting principles generally accepted in the United States of America,  which
contemplate continuation of the Company as a going concern. However, the Company
has no  operations  and has not  established  a source of  revenue.  This matter
raises  substantial  doubt  about the  Company's  ability to continue as a going
concern.  These financial  statements do not include any adjustments relating to
the recoverability and classification of recorded asset amounts,  or amounts and
classification  of  liabilities  that might be  necessary  should the Company be
unable to continue as a going concern.

Management  intends to  actively  pursue  merger  candidates  that have  ongoing
operations and a source of revenue.

Significant Accounting Policies

USES OF ESTIMATES

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  that  affect  the  reporting  amounts of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements  and the  reported  amounts of revenues  and expenses
during the periods.  Management makes these estimates using the best information
available at the time the  estimates  are made;  however,  actual  results could
differ materially from these estimates.

COMPREHENSIVE INCOME

SFAS No. 130,  Reporting  Comprehensive  Income,  establishes  standards for the
reporting  and  display  of  comprehensive  income  and  its  components  in the
financial  statements.  During the years ended  December 31, 2005 and 2004,  the
Company did not have any  components  of  comprehensive  income (loss) to report
and,  accordingly,  has not included a schedule of  comprehensive  income in the
financial statements.

INCOME TAXES

The  Company  accounts  for  income  taxes in  accordance  with  SFAS  No.  109,
Accounting for Income Taxes. Deferred taxes are provided on the liability method
whereby deferred tax assets are recognized for deductible temporary differences,
and deferred tax liabilities are recognized for taxable  temporary  differences.
Temporary differences are the differences between the reported amounts of assets
and  liabilities  and their tax bases.  Deferred  tax  assets  are  reduced by a
valuation  allowance when, in the opinion of management,  it is more likely than
not that some  portion  or all of the  deferred  tax  assets  will be  realized.
Deferred tax assets and  liabilities  are adjusted for the effects of changes in
tax laws and rates on the date of enactment.

NET LOSS PER SHARE

SFAS No.  128,  Earnings  per Share,  requires  dual  presentation  of basic and
diluted earnings or loss per share ("EPS") for all entities with complex capital
structures and requires a reconciliation of the numerator and denominator of the
basic EPS  computation  to the  numerator  and  denominator  of the  diluted EPS
computation.  Basic EPS excludes  dilution;  diluted EPS reflects the  potential
dilution that could occur if securities or other contracts to issue common stock
were  exercised  or  converted  into common stock or resulted in the issuance of
common stock that then shared in the earnings of the entity.

                                      F-6

<PAGE>




Basic loss per share is  computed  by  dividing  net loss  applicable  to common
shareholders by the weighted average number of common shares  outstanding during
the period.  Diluted loss per share  reflects the potential  dilution that could
occur if dilutive  securities  and other  contracts  to issue  common stock were
exercised or  converted  into common stock or resulted in the issuance of common
stock that then shared in the earnings of the  Company,  unless the effect is to
reduce a loss or increase  earnings  per share.  The  Company  had no  potential
common  stock  instruments  which  would  result  in a diluted  loss per  share.
Therefore, diluted loss per share is equivalent to basic loss per share.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In June 2006, the FASB issued  Interpretation No. 48, Accounting for Uncertainty
in Income Taxes - An  Interpretation  of FASB Statement No. 109, ("FIN 48"). FIN
48 clarifies the  accounting for  uncertainty  in income taxes  recognized in an
enterprise's  financial  statements in accordance  with FASB  Statement No. 109,
Accounting for Income Taxes. FIN 48 also prescribes a recognition  threshold and
measurement attribute for the financial statement recognition and measurement of
a tax  position  taken or expected to be taken in a tax return that results in a
tax benefit.  Additionally,  FIN 48 provides guidance on de-recognition,  income
statement  classification  of  interest  and  penalties,  accounting  in interim
periods, disclosure, and transition. This interpretation is effective for fiscal
years  beginning  after  December  15,  2006.  The  Company  does not expect the
application of FIN 48 to have a material affect on its financial statements.

In September 2006, the FASB issued SFAS No. 157, Fair Value  Measurements.  This
statement  defines fair value,  establishes a framework for measuring fair value
in generally accepted accounting principles,  and expands disclosures about fair
value measurements. This statement applies under other accounting pronouncements
that require or permit fair value measurements. SFAS 157 is effective for fiscal
years  beginning  after  November  15,  2007.  The  Company  does not expect the
application  of  SFAS  No.  157  to  have a  material  affect  on its  financial
statements.

In September  2006,  the FASB issued SFAS No. 158,  "Employers'  Accounting  for
Defined  Benefit  Pension and Other  Postretirement  Plans-An  amendment of FASB
Statements  No. 87, 88, 106, and 132(R)".  One  objective of this standard is to
make  it  easier  for  investors,  employees,  retirees  and  other  parties  to
understand  and  assess an  employer's  financial  position  and its  ability to
fulfill the obligations under its benefit plans. SFAS No. 158 requires employers
to fully recognize in their financial statements the obligations associated with
single-employer  defined benefit pension plans,  retiree  healthcare  plans, and
other postretirement plans. SFAS No. 158 requires an employer to fully recognize
in its statement of financial position the overfunded or underfunded status of a
defined  benefit  postretirement  plan (other than a  multiemployer  plan) as an
asset or liability and to recognize changes in that funded status in the year in
which the changes  occur  through  comprehensive  income.  This  statement  also
requires an  employer  to measure the funded  status of a plan as of the date of
its year-end statement of financial position, with limited exceptions.  SFAS No.
158  requires  an entity to  recognize  as a  component  of other  comprehensive
income,  net of tax, the gains or losses and prior service costs or credits that
arise during the period but are not  recognized  as  components  of net periodic
benefit  cost  pursuant  to SFAS No. 87.  This  statement  requires an entity to
disclose  in the notes to  financial  statements  additional  information  about
certain effects on net periodic benefit cost for the next fiscal year that arise
from delayed recognition of the gains or losses, prior service costs or credits,
and  transition  asset or  obligation.  The  Company is  required  to  initially
recognize  the funded  status of a defined  benefit  postretirement  plan and to
provide the required  disclosures  for fiscal  years  ending after  December 15,
2006. Management believes that this statement will not have a significant impact
on the Company's consolidated financial statements.

                                      F-7


<PAGE>





NOTE 3 - RELATED PARTY TRANSACTIONS

As of June 30, 2003, certain related parties advanced the Company $53,003 to pay
for certain costs incurred by the Company. The advances are non-interest bearing
and are payable upon demand.

NOTE 4 - ACCRUED JUDGEMENTS AND ACCRUED INTEREST

Accrued judgment represents an amount due to a creditor under a default judgment
dated February 11, 1993. The accrued interest  represents  accrued interest at a
rate of 18% per annum on this unpaid judgment.


NOTE 5 - ARTWORK

On December 15, 2006,  the Company  entered into a purchased  agreement with The
Saint James Collection, LLC and purchased Limited Edition Cell Art Collection or
Sericels for  5,000,000  shares of the common stock of The Saint James  Company.
The 5,000,000 shares of common stock were valued at $0.01 (par value) per share.

                                      F-8

<PAGE>



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

The following discussion and analysis should be read in conjunction with the our
financial statements and related footnotes for the years ended December 31, 2006
and 2005  included  in our  Annual  Report on Form  10-KSB.  The  discussion  of
results,  causes and trends should not be construed to imply any conclusion that
such results or trends will necessarily  continue in the future. This discussion
contains forward-looking statements that involve risks and uncertainties.

During the year ended December 31, 2006, we acquired The St. James Company Ninja
Turtles Animation collection (also referred to as "Dino Cells"), which consisted
of a number of production cells,  pencil drawings,  hand painted backgrounds and
hand-painted pan backgrounds.

Currently,  management  does not anticipate any  circumstances  in which we will
produce  revenues or acquire  assets.  Management is seeking a potential  merger
candidate or purchaser for us to minimize the shareholders' loss.

RESULTS OF OPERATIONS

For the three months ended June 30, 2007 compared to the three months ended June
30, 2006

During  the three  months  ended  June 30,  2007 and 2006,  we did not incur any
general and administrative expenses. We have had no operations, due to a lack of
funding.

During the three months ended June 30, 2007, the Company  incurred a net loss of
$171  compared to a net loss of $170 for the three  months  ended June 30, 2006.
The net loss is a result of the accrued interest expense,  in connection with an
unpaid judgment.

For the six months ended June 30, 2007 compared to the six months ended June 30,
2006

During the six months ended June 30, 2007 and 2006, we did not incur any general
and  administrative  expenses.  We  have  had no  operations,  due to a lack  of
funding.

During the six months  ended June 30, 2007,  the Company  incurred a net loss of
$341 compared to a net loss of $341 for the six months ended June 30, 2006.  The
net loss is a result of the accrued  interest  expense,  in  connection  with an
unpaid judgment.


FINANCIAL CONDITION AND LIQUIDITY

At June 30, 2007, the Company had no cash or cash equivalents. At June 30, 2007,
the Company had total assets of $50,000,  consisting of the art work acquired in
December  2005. At June 30, 2007, the Company had  liabilities  of $94,627,  all
current.  During the six months ended June 30, 2007,  the Company did not use or
receive funds through either its investing or financing activities.

Consequently, we are now dependent on raising additional equity and, or, debt to
fund any  negotiated  settlements  with our  outstanding  creditors and meet our
ongoing operating expenses.  There is no assurance that we will be able to raise
the  necessary  equity and,  or, debt that we will need to be able to  negotiate
acceptable  settlements  with our  outstanding  creditors  or fund  our  ongoing
operating  expenses.  There can be no  assurances  that we will be able to raise
such funds.


<PAGE>




..

CAPITAL RESOURCES

We had no capital resources at June 30, 2007.

ITEM 3.  CONTROLS AND PROCEDURES

We maintain  disclosure controls and procedures that are designed to ensure that
information  required to be  disclosed  in our Exchange Act reports is recorded,
processed,  summarized and reported within the time periods  specified under the
Securities and Exchange  Commission's rules and forms, and that such information
is  accumulated  and  communicated  to our  management,  including our Principal
Executive Officer and our Principal Financial Officer, as appropriate,  to allow
timely decisions regarding required disclosures.  Our management,  including our
Principal Executive Officer and our Principal Financial Officer, does not expect
that our disclosure controls or procedures will prevent all error and all fraud.
A control  system,  no matter how well conceived and operated,  can provide only
reasonable, not absolute assurance that the objectives of the control system are
met.  Further,  the benefits of controls  must be  considered  relative to their
costs. Because of the inherent limitations in all control systems, no evaluation
of controls can provide absolute assurance that all control issues and instances
of fraud, if any, within us have been detected.

We carried out an evaluation,  under the supervision and with the  participation
of our management,  including our Principal  Executive Officer and our Principal
Financial  Officer,  of the  effectiveness  of the design and  operation  of our
disclosure  controls and  procedures as of the end of the period covered by this
report.  Based  on the  foregoing,  our  Principal  Executive  Officer  and  our
Principal   Financial  Officer  concluded  that  our  disclosure   controls  and
procedures were effective at the reasonable assurance level.

There has been no change  in our  internal  controls  over  financial  reporting
during our most  recent  fiscal  quarter  that has  materially  affected,  or is
reasonably  likely to materially  affect,  our internal  controls over financial
reporting.

PART II.  OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

None.
ITEM 2.  UNREGISTERED SALES OF EQUITY AND USE OF PROCEEDS

None.


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None.


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

None.



<PAGE>




ITEM 5.  OTHER INFORMATION

None.


ITEM 6.  EXHIBITS

Exhibits.  The  following is a complete  list of exhibits  filed as part of this
Form 10-QSB.  Exhibit numbers  correspond to the numbers in the Exhibit Table of
Item 601 of Regulation S-B.

     Exhibit 31.1  Certification of Chief Executive  Officer pursuant to Section
     302 of the Sarbanes-Oxley Act

     Exhibit 32.1  Certification  of  Principal  Executive  Officer  pursuant to
     Section 906 of the Sarbanes-Oxley Act



<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.
                                                     THE SAINT JAMES COMPANY




February 12, 2008                By:      /s/ Bruce Anthony Cosgrove
                                          --------------------------------
                                              Bruce Anthony Cosgrove,
                                              President, CEO
                                              & Principal Accounting Officer