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, 2005

      [ ] 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                                    52-1426581
        --------                                           ----------
(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)


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act of 1934 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]

Indicate the number of shares  outstanding  of each of the  issuer's  classed of
common stock, as of the latest practicable date

As of December 14, 2007, there were 11,999,057  shares of the registrant's  sole
class of common shares outstanding.

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


<PAGE>
<TABLE>
<CAPTION>
<S>                                                                                           <C>




                             THE SAINT JAMES COMPANY
                                      Index

                                                                                               Page
                                                                                              Number

PART I.    FINANCIAL INFORMATION                                                                 3

Item 1.    Financial Statements                                                                  3

           Balance Sheet as of June 30, 2005 (unaudited)                                         3

           Statements of Operations  for the three and six months ended June 30,
           2005 and 2004 and the period from January 1, 1999 to June 30,
           2005 (unaudited)                                                                      4

           Statement of Stockholders' Deficit for the period from January 1,
           1999 to June 30, 2005 (unaudited)                                                     5

           Statements  of Cash Flows for the six months  ended June 30, 2005 and
           2004 and the period from January 1, 1999 to June 30, 2005 (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 Securities 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
                                 June 30, 2006
                                   (Unaudited)

                                     Assets
<S>                                                                                           <C>


Total assets                                                                                          $      -
                                                                                              =================

                  Liabilities and Stockholders' Deficit

Current liabilities
     Accounts payable                                                                                 $ 68,116
     Advances from related parties                                                                      53,003
     Accrued interest                                                                                    8,750
     Accrued judgment                                                                                    5,894
                                                                                              -----------------
     Total current liabilities                                                                         135,763
                                                                                              -----------------
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; 999,057 issued and outstanding                                                  999
     Additional paid-in capital                                                                      3,498,576
     Deficit accumulated during development stage                                                   (3,635,338)
                                                                                              -----------------
     Total stockholders' deficit                                                                      (135,763)
                                                                                              -----------------
Total liabilities and stockholders' deficit                                                           $      -
                                                                                              =================

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
                                   (Unaudited)

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

                                                                                                            January 1, 1999
                                               Three Months Ended                Six Months Ended           (Inception) to
                                             March 31,         March 31,    March 31,        March 31,         March 31,
                                               2005            2004           2005             2004              2005
                                         -----------------  ------------  -------------   ---------------   ---------------
Sales                                 $                 -  $          -  $           -  $              -  $              -
Cost of Sales                                           -             -              -                 -                 -
                                         -----------------  ------------  -------------   ---------------   ---------------
Gross profit                                            -             -              -                 -                 -

Operating expenses
    Research and development                            -             -              -                 -                 -
    General and administrative                      7,500         9,286         15,000            31,865           159,720
                                         -----------------  ------------  -------------   ---------------   ---------------
Total operating expenses                            7,500         9,286         15,000            31,865           159,720
                                         -----------------  ------------  -------------   ---------------   ---------------
Loss from operation                                (7,500)       (9,286)       (15,000)          (31,865)         (159,720)
                                         -----------------  ------------  -------------   ---------------   ---------------
Other income (expense)
    Other income                                        -             -              -                 -             8,485
    Interest expense                                 (171)         (264)          (341)             (434)           (3,872)
                                         -----------------  ------------  -------------   ---------------   ---------------
Total other income (expense)                         (171)         (264)          (341)             (434)            4,613
                                         -----------------  ------------  -------------   ---------------   ---------------
Income before taxes                                (7,671)       (9,550)       (15,341)          (32,299)         (155,107)

Provision for taxes                                     -             -              -                 -                 -
                                         -----------------  ------------  -------------   ---------------   ---------------

Net loss                              $            (7,671) $     (9,550) $     (15,341) $        (32,299) $       (155,107)
                                         =================  ============  =============   ===============   ===============

Net loss per shares - basic and dilute$             (0.01) $      (0.01) $       (0.02) $          (0.03)
                                         =================  ============  =============   ===============
Weighted average shares outsanding                999,057       999,057        999,057           999,057
                                         =================  ============  =============   ===============

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
                     (unaudited)
<S>                                                     <C>            <C>        <C>           <C>             <C>

                                                             Common Stock                          Deficit
                                                                                                  Accumulated
                                                           Shares       Amount     Additional     During
                                                                                   Paid in        Development       Total
                                                                                                   Stage
                                                        -------------  ---------  ------------  --------------  -----------
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                                                                                              (54,643)     (54,643)
                                                        -------------  ---------  ------------  --------------  -----------
Balance, December 31, 2003                                   999,057        999     3,487,807      (3,572,356)     (83,550)

Capital contribution from Funet                                                        10,769                       10,769
Net loss                                                                                              (47,641)     (47,641)
                                                        -------------  ---------  ------------  --------------  -----------
Balance, December 31, 2004                                   999,057        999     3,498,576      (3,619,997)    (120,422)
                                                        -------------  ---------  ------------  --------------  -----------
Net loss                                                                                              (15,341)     (15,341)
                                                        -------------  ---------  ------------  --------------  -----------
Balance, June 30, 2005                                       999,057      $ 999   $ 3,498,576    $ (3,635,338)  $ (135,763)
                                                        =============  =========  ============  ==============  ===========

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
                                   (Unaudited)
<S>                                                            <C>                <C>                 <C>

                                                                                                         January 1, 1999
                                                                        Six Months Ended                 (Inception) to
                                                                  March 31,          March 31,              March 31,
                                                                    2005                2004                  2005
                                                               ----------------   -----------------   ----------------------
Cash flows from operating activities
    Net loss                                                   $       (15,341)   $        (32,299)   $            (127,605)
    Adjustments to reconcile net loss to net
      cash used by operating activities:
         Gain on settlement of judgment                                      -                   -                   (8,485)
      Changes in operating assets and liabilities
         Decrease in prepaid expenses                                        -               1,485                        -
         Increase in accounts payable                                   15,000              19,704                   40,615
         Increase in accrued interest                                      341                 341                    3,750

                                                               ----------------   -----------------   ----------------------
Net cash used in operating activities                                        -             (10,769)                 (91,725)
                                                               ----------------   -----------------   ----------------------

Cash flows from financing activities
    Advances from related parties                                            -                   -                   53,003
    Capital contribution from Funet                                          -              10,769                   38,008

                                                               ----------------   -----------------   ----------------------
Net cash provided by financing activities                                    -              10,769                   91,011
                                                               ----------------   -----------------   ----------------------
Net decrease in cash                                                         -                   -                     (714)

Cash at beginning of period                                                  -                   -                      714

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

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

</TABLE>

                                      F-4

<PAGE>
                             THE SAINT JAMES COMPANY
                          (A Development Stage Company)
                        NOTES TO THE FINANCIAL STATEMENTS
                                  JUNE 30, 2005
                                   (Unaudited)

NOTE 1 - ORGANIZATION AND LINE OF BUSINESS

On October 13, 1998, The Saint James Company (the  "Company")  was  incorporated
under the laws of the State of Delaware. On November 19, 1998 Radiation Disposal
Systems,  Inc.  exchanged all of its outstanding  shares for equal shares in The
Saint James Company.  The effect of this  transaction  was to change the name of
the Company to The Saint  James  Company  and to change the  Company's  state of
domicile  from  North  Carolina  to  Delaware.   The  Company  has  subsequently
discovered  that the legal paperwork to incorporate in the state of Delaware was
never filed; therefore, the Company is currently domiciled in the state of North
Carolina. 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.

On December 15 2005, the Company  entered into and consummated an acquisition of
Sericells art work from The Saint James Collection,  LLc., a Nevada Corporation,
with a view to marketing and licensing the cells.  Due to limited  resources the
Company has not been able to aggressively pursue its marketing objectives.  None
of the stockholders of The Saint James  Collection,  LLC. were affiliates of the
Company, or affiliated with any director or officer of the Company, nor did they
have any material  relationships  with the Company.  The Company agreed to issue
5,000,000 shares of its restricted common stock to the stockholders of The Saint
James Collection, LLc. in reliance upon Regulation S under the Securities Act of
1933, which represent  approximately 41% of the issued and outstanding shares of
the common stock of the Company.

The St. James Company Ninja Turtles Animation Collection consists of a number of
production Cels, pencil drawings,  hand painted backgrounds and hand painted pan
backgrounds.

Due to the  Company's  limited  resources  the  Company  has  not  been  able to
aggressively pursue their business objectives and will be better positioned once
the Company is listed and trading on the NASD OTC BB wherein  said  listing will
facilitate financing.

NOTE 2 - BASIS OF  PRESENTATION,  MANAGEMENTS  PLAN AND  SUMMARY OF  SIGNIFICANT
ACCOUNTING POLICIES

BASIS OF PRESENTATION

Interim Presentation

The  unaudited  financial  statements  have been  prepared by the  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, 2004  included in the  Company's  Annual Report on Form
10-KSB.  The results of the six months  ended June 30, 2005 are not  necessarily
indicative  of the results to be expected for the full year ending  December 31,
2005.

                                      F-5

<PAGE>




Development Stage Company

Development Stage

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.

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 plans to take the following steps that it believes will be sufficient
to provide the Company with the ability to continue in existence:

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.

                                      F-6

<PAGE>


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.

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

During  April 2003,  the FASB issued SFAS 149 - "Amendment  of Statement  133 on
Derivative Instruments and Hedging Activities",  effective for contracts entered
into or modified  after June 30,  2003,  except as stated  below and for hedging
relationships  designated  after June 30, 2003.  In  addition,  except as stated
below,  all provisions of this Statement  should be applied  prospectively.  The
provisions of this Statement that relate to Statement 133 Implementation  Issues
that have been effective for fiscal  quarters that began prior to June 15, 2003,
should  continue to be applied in  accordance  with their  respective  effective
dates. In addition, paragraphs 7(a) and 23(a), which relate to forward purchases
or sales of WHEN-ISSUED  securities or other  securities  that do not yet exist,
should be applied to both  existing  contracts  and new  contracts  entered into
after June 30, 2003.  The Company  does not  participate  in such  transactions,
however,  is evaluating the effect of this new  pronouncement,  if any, and will
adopt FASB 149 within the prescribed time.

During May 2003,  the FASB issued SFAS 150 - "Accounting  for Certain  Financial
Instruments with Characteristics of both Liabilities and Equity",  effective for
financial instruments entered into or modified after May 31, 2003, and otherwise
is effective at the beginning of the first interim period  beginning  after June
15, 2003. This Statement  establishes standards for how an issuer classifies and
measures certain financial  instruments with characteristics of both liabilities
and  equity.  It  requires  that an issuer  classify  a  freestanding  financial
instrument  that is  within  its  scope  as a  liability  (or an  asset  in some
circumstances).  Many of those instruments were previously classified as equity.
Some of the  provisions  of this  Statement  are  consistent  with  the  current
definition  of  liabilities  in FASB  Concepts  Statement  No.  6,  Elements  of
Financial  Statements.  The  Company  is  evaluating  the  effect  of  this  new
pronouncement and will adopt FASB 150 within the prescribed time.

                                      F-7

<PAGE>




In January  2003,  the FASB  issued  Interpretation  No. 46,  "Consolidation  of
Variable Interest Entities." Interpretation 46 changes the criteria by which one
company  includes  another  entity  in its  consolidated  financial  statements.
Previously,  the  criteria  were  based  on  control  through  voting  interest.
Interpretation  46 requires a variable  interest  entity to be consolidated by a
company if that  company  is subject to a majority  of the risk of loss from the
variable interest  entity's  activities or entitled to receive a majority of the
entity's  residual  returns  or both.  A company  that  consolidates  a variable
interest  entity  is  called  the  primary   beneficiary  of  that  entity.  The
consolidation  requirements of  Interpretation  46 apply immediately to variable
interest entities created after January 31, 2003. The consolidation requirements
apply to other  entities in the first  fiscal year or interim  period  beginning
after  December 15, 2003.  Certain of the disclosure  requirements  apply in all
financial  statements  issued  after  January 31, 2003,  regardless  of when the
variable  interest  entity  was  established.  The  Company  does not expect the
adoption  to have a  material  impact on the  Company's  financial  position  or
results of operations.

NOTE 3 - INCOME TAXES

The  reconciliation  of the effective  income tax rate to the federal  statutory
rate as of December 31, 2005 and 2005 is as follows:

                                              2005                      2004
                                          -----------                ---------

Federal income tax rate                      34.0 %                     34.0 %
Effect of net operating loss                (34.0)%                    (34.0)%
                                      ---------------           ----------------
Effective income tax rate                     0.0 %                      0.0 %
                                      ===============           ================

Deferred  tax  assets  and  liabilities  reflect  the net  effect  of  temporary
differences  between the carrying amount of assets and liabilities for financial
reporting  purposes  and  amounts  used for  income  tax  purposes.  Significant
components of the Company's  deferred tax assets and liabilities at December 31,
2005 are as follows:

Loss carry forwards          $     256,000
Less valuation allowance          (256,000)
                           -----------------
                             $         --
                           =================

At December 31, 2005 and 2004,  the Company has  provided a valuation  allowance
for the deferred tax asset since  management has not been able to determine that
the  realization of that asset is more likely than not. Net operating loss carry
forwards of  approximately  $3,600,000 began to expire in 1999 of which $640,000
are still available as of December 31, 2006.

NOTE 4 - RELATED PARTY TRANSACTIONS

Prior to the year ended December 31, 2004,  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 5 - 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.

                                      F-8

<PAGE>




NOTE 6 - CONSULTING AGREEMENT

On February 15, 2004,  the Company  entered  into a  consulting  agreement  with
Wynthrop Barrington.  Wynthrop Barrington is in business of providing management
consulting  services,  security  related services and advice with respect to SEC
and NASD rules and  regulations,  business  advisory and  development  services,
product  development  services,   product  marketing  and  sales  services.  The
consulting  services obtained from Wynthrop  Barrington,  resulted in $60,000 of
accounts payable at December 15, 2005, which were then paid to the consultant by
issuance of 6,000,000 shares of the Company's common stock at $0.01 per share.

                                      F-9

<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 year ended December 31, 2004
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.

We had no  assets at June 30,  2005.  In the year  ended  December  31,  2005 we
acquired The St. James Company Ninja Turtles Animation Collection (also referred
to as "Dino  Cells"),  which  consists of a number of  production  Cels,  pencil
drawings, hand painted backgrounds and hand-painted pan backgrounds.

The Company  intends on marketing  this product  which would  include  providing
limited numbers of original Animation Cell Art to collectors through some select
retail venues and by working  closely with some charities that can sell original
or reproduction  art as a fund raiser to the public or through school systems in
most states.  The Company intends to establish a relationship  with distributors
to sell art.

Due to the  Company's  limited  resources,  the  Company  has not  been  able to
aggressively pursue their business objectives and will be better positioned once
the  Company  is quoted  and  traded on the OTC BB,  wherein  said  listing  may
facilitate financing opportunities during the next twelve months.

The  Company   anticipates   potentially  hiring  one  or  two  marketing  sales
representatives  to deal directly with  distributors of art work and or greeting
card companies.

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, 2005 compared to the three months ended June
30, 2004

For the three months ended June 30, 2005, we incurred general and administrative
expenses of $7,500  compared to $9,286  during the three  months  ended June 30,
2004. The decrease of $1,786 was due to our decreased operational activities.

During the three months ended June 30, 2005, the Company  incurred a net loss of
$7,671  compared  to a net loss of $9,550  for the three  months  ended June 30,
2004.  The  decrease  of $1,879  was a result of the  decrease  in  general  and
administrative expenses discussed above.

For the six months ended June 30, 2005 compared to the six months ended June 30,
2004

For the six months ended June 30, 2005, we incurred  general and  administrative
expenses of $15,000  compared to $31,865 for the six months ended June 30, 2004.
The  decrease  of  $$16,865  was a result  of the  decrease  in our  operational
activities over the prior year.

During the six months  ended June 30,  2005,  we  incurred a net loss of $15,341
compared to a net loss of $32,399 for the six months  ended June 30,  2004.  The
decrease   of  $17,058  is   attributable   to  the   decrease  in  general  and
administrative expenses discussed above.


<PAGE>





FINANCIAL CONDITION AND LIQUIDITY

At June 30, 2005, the Company had no cash or cash equivalents. At June 30, 2005,
the Company had  liabilities  of $135,763,  all  current.  During the six months
ended June 30, 2005, 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

ITEM 3.  CONTROLS AND PROCEDURES

As required by SEC rules, we have evaluated the  effectiveness of the design and
operation of our  disclosure  controls and  procedures  at the end of the period
covered by this report.  This  evaluation was carried out under the  supervision
and with the participation of our management,  including our principal executive
officer  and  principal  financial  officer.  Based  on this  evaluation,  these
officers have concluded that the design and operation of our disclosure controls
and procedures are effective,  with some  weaknesses in internal  control due to
limited   personnel,   significant  change  in  senior  management  and  current
negotiations  with a senior creditor.  Except as discussed above,  there were no
other  significant  changes to our  internal  controls or in other  factors that
could  significantly  affect internal  controls  subsequent to the date of their
evaluation.

Disclosure  controls and procedures are our controls and other  procedures  that
are  designed to ensure that  information  required to be disclosed by us in the
reports that we file or submit  under the  Exchange Act is recorded,  processed,
summarized  and reported,  within the time periods  specified in the SEC's rules
and forms.  Disclosure  controls and  procedures  include,  without  limitation,
controls  and  procedures  designed  to ensure that  information  required to be
disclosed  by us in  the  reports  that  we  file  under  the  Exchange  Act  is
accumulated and communicated to our management,  including  principal  executive
officer  and  principal  financial  officer,  as  appropriate,  to allow  timely
decisions regarding required disclosure.


<PAGE>



PART II.  OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

None.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.


ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None.


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

None.


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




December 14, 2007                 By:      /s/ Bruce Anthony Cosgrove
                                           --------------------------------
                                               Bruce Anthony Cosgrove,
                                               President & CEO