*** ***

**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**Form      10-QSB**

| x |   | QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934 |
|---|--------|--------------------------------------------------------------------------------------------------------------------------------------|

**March      31, 2007**

| o |   | TRANSITION                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934 |
|---|--------|------------------------------------------------------------------------------------------------------------------|

**0-13092**

**SPECTRASCIENCE,      Inc. **

| **Minnesota**                                      |   | **41-1448837**                                           |
|----------------------------------------------------|--------|----------------------------------------------------------|
| (State                  or other jurisdiction      |   | (I.R.S.                  Employer Identification Number) |
| of                  incorporation or organization) |   |                                                     |

|   | **11568                  Sorrento Valley Rd., Suite 11**  |   |
|--------|-----------------------------------------------------------|--------|
|   | **San                  Diego, California 92121**          |   |
|   | (Address                  of principal executive offices) |   |
|   | **(858)                  847-0200**                       |   |
|   | (Issuer's                  telephone number)              |   |

----

**APPLICABLE      ONLY TO ISSUERS INVOLVED IN**

**BANKRUPTCY      PROCEEDINGS DURING THE**

**PRECEDING      FIVE YEARS**

----

**SpectraScience,      Inc.**

**Index**

**Page**

**No.**

| PART                  I FINANCIAL                  INFORMATION: | 4                                                                                |
|-----------------------------------------------------------------|----------------------------------------------------------------------------------|
|                                                            |                                                                             |   |
| Item                  1.                                        | Financial                  Statements (Unaudited)                                | 4 |
|                                                            |                                                                             |   |
| Item                  2.                                        | Management’s                  Discussion and Analysis or Plan of Operation | 13 |
|                                                            |                                                                             |   |
| Item                  3.                                        | Controls                  and Procedures                                         | 16 |
|                                                            |                                                                             |   |
| PART                  II OTHER                  INFORMATION     | 16                                                                               |
|                                                            |                                                                             |
| Item                  1.                                        | Legal                  Proceedings                                               | 16 |
|                                                            |                                                                             |   |
| Item                  2.                                        | Unregistered                  Sales of Equity Securities and Use of Proceeds     | 16 |
|                                                            |                                                                             |   |
| Item                  3.                                        | Defaults                  Upon Senior Securities                                 | 16 |
|                                                            |                                                                             |   |
| Item                  4.                                        | Submission                  of Matters to a Vote of Security Holders             | 16 |
|                                                            |                                                                             |   |
| Item                  5.                                        | Other                  Information                                               | 17 |
|                                                            |                                                                             |   |
| Item                  6.                                        | Exhibits                                                                         | 17 |
|                                                            |                                                                             |   |
| SIGNATURES                                                      | 18                                                                               |

----

**PART      I**
**FINANCIAL      INFORMATION**
**:**

**Item      1.**
**Financial      Statements (Unaudited)**

**SpectraScience,      Inc.**

**CONDENSED      BALANCE SHEETS**

|                                                                                                                                                   |   | **March                    31,****2007** |       | **December                    31,****2006** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------|------------|---------------------------------------------|--------|
|                                                                                                                                                   |   | (Unaudited)                              |       | (Audited)                                   |   |
| ASSETS                                                                                                                                                 |   |                                     |       |                                        |   |
| Current                    assets:                                                                                                                     |   |                                     |       |                                        |   |
| Cash                    and cash equivalents                                                                                                           |   | $                                        | 442,336    |                                        | $      | 174,802 |   |
| Inventories                                                                                                                                            |   |                                     | 123,981    |                                        |   | 123,981 |   |
| Prepaid                    expenses and other current assets                                                                                           |   |                                     | 44,085     |                                        |   | 50,933 |   |
| Total                    current assets                                                                                                                |   |                                     | 610,402    |                                        |   | 349,716 |   |
| Patents,                    net                                                                                                                        |   |                                     | 238,206    |                                        |   | 243,062 |   |
|                                                                                                                                                   |   |                                     |       |                                        |   |   |   |
| TOTAL                    ASSETS                                                                                                                        |   | $                                        | 848,608    |                                        | $      | 592,778 |   |
|                                                                                                                                                   |   |                                     |       |                                        |   |   |   |
| LIABILITIES                    AND STOCKHOLDERS’ EQUITY                                                                                          |   |                                     |       |                                        |   |   |   |
| Current                    liabilities:                                                                                                                |   |                                     |       |                                        |   |   |   |
| Accounts                    payable                                                                                                                    |   | $                                        | 79,939     |                                        | $      | 57,689 |   |
| Accrued                    compensation and taxes                                                                                                      |   |                                     | 12,888     |                                        |   | 9,286 |   |
| Total                    liabilities                                                                                                                   |   |                                     | 92,827     |                                        |   | 66,975 |   |
|                                                                                                                                                   |   |                                     |       |                                        |   |   |   |
| STOCKHOLDERS’                    EQUITY                                                                                                          |   |                                     |       |                                        |   |   |   |
| Undesignated                    capital stock, undesignated par value, 25,000,000 shares authorized,                    none                    issued |   |                                     | -          |                                        |   | - |   |
| Common                    stock, $.01 par value:                                                                                                       |   |                                     |       |                                        |   |   |   |
| Authorized--100,000,000                    shares                                                                                                      |   |                                     |       |                                        |   |   |   |
| Issued                    and outstanding—39,325,087 shares at March 31, 2007 (38,370,087 shares at                    December 31, 2006)        |   |                                     | 393,251    |                                        |   | 383,701 |   |
| Additional                    paid-in capital                                                                                                          |   |                                     | 3,225,876  |                                        |   | 2,742,888 |   |
| Deficit                    accumulated during the development stage                                                                                    |   |                                     | (2,863,346 | )                                           |   | (2,600,786 | ) |
| TOTAL                    STOCKHOLDERS’ EQUITY                                                                                                    |   |                                     | 755,781    |                                        |   | 525,803 |   |
| TOTAL                    LIABILITIES AND STOCKHOLDERS’                    EQUITY                                                                 |   | $                                        | 848,608    |                                        | $      | 592,778 |   |

*See      accompanying notes to unaudited condensed financial      statements.*

----

**SpectraScience,      Inc.**

**CONDENSED      STATEMENTS OF OPERATIONS**

**(Unaudited)**

|                                                      |   | **Three                Months Ended****March                31,** |       | **August                2, 2004 (Inception of** **Successor                Company) to March 31,** |   |
|-----------------------------------------------------------|--------|-------------------------------------------------------------------|------------|---------------------------------------------------------------------------------------------------------|--------|
|                                                      |   |  **2007**                                                    |       | **2006****Restated**                                                                                    |   |  **2007** |   |
|                                                      |   |                                                              |       |                                                                                                    |   |   |   |
| Gross                revenue                              |   | $                                                                 | -          |                                                                                                    | $      | - |   | $ | - |   |
| Operating                expenses:                        |   |                                                              |       |                                                                                                    |   |   |   |   |   |   |
| Research                and development                   |   |                                                              | 74,442     |                                                                                                    |   | 97,218 |   |   | 811,517 |   |
| General                and administrative                 |   |                                                              | 189,029    |                                                                                                    |   | 229,278 |   |   | 2,105,794 |   |
| Total                operating expenses                   |   |                                                              | 263,471    |                                                                                                    |   | 326,496 |   |   | 2,917,311 |   |
| Operating                loss                             |   |                                                              | (263,471   | )                                                                                                       |   | (326,496 | ) |   | (2,917,311 | ) |
| Other                income, net                          |   |                                                              | 911        |                                                                                                    |   | 3,220 |   |   | 53,965 |   |
| Net                loss                                   |   | $                                                                 | (262,560   | )                                                                                                       | $      | (323,276 | ) | $ | (2,863,346 | ) |
| Basic                and diluted net loss per share       |   | $                                                                 | (0.01      | )                                                                                                       | $      | (0.01 | ) |   |   |   |
| Weighted                average common shares outstanding |   |                                                              | 38,529,254 |                                                                                                    |   | 37,596,012 |   |   |   |   |

*See      accompanying notes to unaudited condensed financial      statements.*

----

**SpectraScience,      Inc.**

**CONDENSED      STATEMENTS OF CASH FLOWS**

**(Unaudited)**

|                                                                                                  |   | **Three                Months March 31, Ended** |     | **August                2, 2004****(Inception                of**** ****Successor****Company)                to** |   |
|-------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|----------|------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                       |        | **2007**                                        |          | **2006**                                                                                                               |        | **March                31, 2007** |   |
| OPERATING                ACTIVITIES:                                                                  |   |                                            |     |                                                                                                                   |   |   |   |
| Net                loss                                                                               |   | $                                               | (262,560 | )                                                                                                                      | $      | (323,276 | ) | $ | (2,863,346 | ) |
| Adjustments                to reconcile net loss to cashused                in operating activities:  |   |                                            |     |                                                                                                                   |   |   |   |   |   |   |
| Depreciation                and amortization                                                          |   |                                            | 4,856    |                                                                                                                   |   | 7,396 |   |   | 70,985 |   |
| Stock-based                compensation employees                                                     |   |                                            | 1,060    |                                                                                                                   |   | 19,779 |   |   | 474,816 |   |
| Stock-based                compensation consultants                                                   |   |                                            | 15,728   |                                                                                                                   |   | 69,184 |   |   | 299,657 |   |
| Gain                on disposal of fixed assets                                                       |   |                                            | -        |                                                                                                                   |   | - |   |   | (21,689 | ) |
| Write-off                of obsolete inventories                                                      |   |                                            | -        |                                                                                                                   |   | - |   |   | 25,188 |   |
| Changes                in operating assetsand                liabilities:                             |   |                                            |          |                                                                                                                   |   |  |   |   |   |   |
| Inventories                                                                                           |   |                                            | -        |                                                                                                                   |   | 729 |   |   | - |   |
| Prepaid                expenses and other current assets                                              |   |                                            | 6,848    |                                                                                                                   |   | 11,980 |   |   | (20,335 | ) |
| Accounts                payable                                                                       |   |                                            | 22,250   |                                                                                                                   |   | 35,816 |   |   | 20,237 |   |
| Accrued                compensation, taxes and expenses                                               |   |                                            | 3,602    |                                                                                                                   |   | (637 | ) |   | (19,205 | ) |
| Net                cash used in operating activities                                                  |   |                                            | (208,216 | )                                                                                                                      |   | (179,029 | ) |   | (2,033,692 | ) |
|                                                                                                  |   |                                            |     |                                                                                                                   |   |   |   |   |   |   |
| INVESTING                ACTIVITIES:                                                                  |   |                                            |          |                                                                                                                   |   |   |   |   |   |   |
| Proceeds                from the sale of assets                                                       |   |                                            | -        |                                                                                                                   |   | - |   |   | 25,740 |   |
| Net                cash provided by investing activities                                              |   |                                            | -        |                                                                                                                   |   | - |   |   | 25,740 |   |
|                                                                                                  |   |                                            |     |                                                                                                                   |   |   |   |   |   |   |
| FINANCING                ACTIVITIES:Proceeds                from issuance of common stock             |   |                                            | 475,000  |                                                                                                                   |   | - |   |   | 997,048 |   |
| Proceeds                from exercise of stock options                                                |   |                                            | 750      |                                                                                                                   |   | 4,275 |   |   | 11,250 |   |
| Net                cash provided by financing activities                                              |   |                                            | 475,750  |                                                                                                                   |   | 4,275 |   |   | 1,008,298 |   |
| Net                increase (decrease) in cash and cash equivalents                                   |   |                                            | 267,534  |                                                                                                                   |   | (174,754 | ) |   | (999,654 | ) |
|                                                                                                  |   |                                            |     |                                                                                                                   |   |   |   |   |   |   |
| CASH                AND CASH EQUIVALENTSAT                BEGINNING OF PERIOD                         |   |                                            | 174,802  |                                                                                                                   |   | 441,025 |   |   | 1,441,990 |   |
|                                                                                                  |   |                                            |     |                                                                                                                   |   |   |   |   |   |   |
| CASH                AND CASH EQUIVALENTS AT                END OF PERIOD                              |   | $                                               | 442,336  |                                                                                                                   | $      | 266,271 |   | $ | 442,336 |   |
|                                                                                                  |   |                                            |     |                                                                                                                   |   |   |   |   |   |   |
| Supplemental                disclosure of non-cash investing and financing                activities: |   |                                            |     |                                                                                                                   |   |   |   |   |   |   |
| Conversion                of notes payable and accrued interest                to common stock        |   |                                            |     |                                                                                                                   |   |   |   | $ | 565,000 |   |
| Issuance                of common stock in settlementof                bankruptcy debt                |   |                                            |     |                                                                                                                   |   |   |   | $ | 60,000 |   |
| Fresh                start adjustment to fixed assets andPatents                                      |   |                                            |     |                                                                                                                   |   |   |   | $ | 255,379 |   |

*See      accompanying notes to unaudited condensed financial      statements.*

----

**SpectraScience,      Inc.**

**Notes      to Unaudited Condensed Financial Statements**

**March      31, 2007**

| **1.  ** | **Nature                of Business and Basis of                Presentation** |
|--------------------|--------------------------------------------------------------------------------|

**Description      of Business**

**Basis      of Presentation**

**Liquidity      and Development Stage Enterprise**

----

| **2.  ** | **Summary                of Significant Accounting                Policies** |
|--------------------|------------------------------------------------------------------------------|

----

|                                     |   |  2007 |                     | 2006   |   |
|------------------------------------------|--------|------------|--------------------------|--------|--------|
| Contract                  life           |   |       | 2                  years |   |   | 5                  years |   |
| Risk-free                  interest rate |   |       | 4.5%                     |   |   | 4.75% |   |
| Expected                  volatility     |   |       | 144%                     |   |   | 216% |   |
| Expected                  dividend yield |   |       | 0%                       |   |   | 0% |   |

----

|                                          |   | Options                Available For Grant |      | Plan                Options Outstanding |   | Weighted                Average Exercise Price Share |   | Weighted-Average                Remaining Contractual Term (years) |   | Aggregate                Intrinsic Value ($000) |   |
|-----------------------------------------------|--------|--------------------------------------------|-----------|-----------------------------------------|--------|------------------------------------------------------|--------|--------------------------------------------------------------------|--------|-------------------------------------------------|--------|
|                                          |   |                                       |      |                                    |   |                                                 |   |                                                               |   |                                            |   |
| Outstanding                at January 1, 2007 |   |                                       | 3,281,114 |                                    |   | 2,330,000                                            |   | $                                                                  | 0.42   |                                            |   |   |   |   |   |   |
| Options                granted                |   |                                       | (77,000   | )                                       |   | 77,000                                               |   | $                                                                  | 0.85   |                                            |   |   |   |   |   |   |
| Options                exercised              |   |                                       | 5,000     |                                    |   | (5,000                                               | )      | $                                                                  | 0.15   |                                            |   |   |   |   |   |   |
| Forfeited                or expired           |   |                                       | -         |                                    |   | -                                                    |   |                                                               |   |                                            |   |   |   |   |   |   |
| Outstanding                at March 31, 2007  |   |                                       | 3,209,114 |                                    |   | 2,402,000                                            |   | $                                                                  | 0.43   |                                            |   | 7.91 |   | $ | 2,037 |   |
| Exercisable                at March 31, 2007  |   |                                       |      |                                    |   | 1,983,333                                            |   | $                                                                  | 0.31   |                                            |   | 7.60 |   | $ | 1,928 |   |

|                           |   | March                31, 2007 |    | December                31, 2006 |   |
|--------------------------------|--------|-------------------------------|---------|----------------------------------|--------|
| Raw                materials   |   | $                             | 50,876  |                             | $      | 50,876 |   |
| Work                in process |   |                          | -       |                             |   | - |   |
| Finished                goods  |   |                          | 73,105  |                             |   | 73,105 |   |
| Totals                         |   | $                             | 123,981 |                             | $      | 123,981 |   |

----

----

|                                                      |   | **As                previously reported in the 2006 10-QSB** |       | **After                reclassification**   |   | **As                previously reported in the 2006 10-QSB** |   | **After****reclassification**               |       |
|-----------------------------------------------------------|--------|--------------------------------------------------------------|------------|--------------------------------------------------|--------|--------------------------------------------------------------|--------|--------------------------------------------------|------------|
|                                                      |   | **3                months ended March 31, 2006**             |       | **3                months ended March 31, 2006** |   | **3                months ended March 31, 2005**             |   | **3                months ended March 31, 2005** |       |
|                                                      |   |                                                         |       |                                             |   |                                                         |   |                                             |       |
| Gross                revenue                              |   | $                                                            | -          |                                             | $      | -                                                            |   | $                                                | -          |   | $ | - |   |
| Operating                expenses:                        |   |                                                         |       |                                             |   |                                                         |   |                                             |       |   |   |   |   |
| Research                and development                   |   |                                                         | 36,900     |                                             |   | 97,218                                                       |   |                                             | 9,751      |   |   | 61,509 |   |
| General                and administrative                 |   |                                                         | 289,596    |                                             |   | 229,278                                                      |   |                                             | 191,796    |   |   | 140,038 |   |
| Total                operating expenses                   |   |                                                         | 326,496    |                                             |   | 326,496                                                      |   |                                             | 201,547    |   |   | 201,547 |   |
| Operating                loss                             |   |                                                         | (326,496   | )                                                |   | (326,496                                                     | )      |                                             | (201,547   | ) |   | (201,547 | ) |
|                                                      |   |                                                         |       |                                             |   |                                                         |   |                                             |       |   |   |   |   |
| Other                income, net                          |   |                                                         | 3,220      |                                             |   | 3,220                                                        |   |                                             | 1,027      |   |   | 1,027 |   |
| Net                loss                                   |   | $                                                            | (323,726   | )                                                | $      | (323,726                                                     | )      | $                                                | (200,520   | ) | $ | (200,520 | ) |
| Basic                and diluted net loss per share       |   | $                                                            | (0.01      | )                                                | $      | (0.01                                                        | )      | $                                                | (0.01      | ) | $ | (0.01 | ) |
| Weighted                average common shares outstanding |   |                                                         | 37,596,012 |                                             |   | 37,596,012                                                   |   |                                             | 37,550,762 |   |   | 37,550,762 |   |

**3.      Stockholders’ Equity**

**4.      Subsequent Events**

----

**Item      2.**
**Management’s      Discussion and Analysis or Plan of Operation**

**Safe      Harbor Statement Under the Private Securities Litigation Reform Act of      1995**

**Business**

**Plan      of Operation**

----

**Results      of Operations**

**Reclassification/Restatement**

----

|                                                      |   | **As                previously reported in the 2006 10-QSB** |       | **After                reclassification**        |   | **As                previously reported in the 2006 10-QSB** |   |                **After                reclassification** |       |
|-----------------------------------------------------------|--------|--------------------------------------------------------------|------------|--------------------------------------------------|--------|--------------------------------------------------------------|--------|---------------------------------------------------------------|------------|
|                                                      |   | **3                months ended March 31, 2006**             |       | **3                months ended March 31, 2006** |   | **3                months ended March 31, 2005**             |   | **3                months ended March 31, 2005**              |       |
|                                                      |   |                                                         |       |                                             |   |                                                         |   |                                                          |       |
| Gross                revenue                              |   | $                                                            | -          |                                             | $      | -                                                            |   | $                                                             | -          |   | $ | - |   |
| Operating                expenses:                        |   |                                                         |       |                                             |   |                                                         |   |                                                          |       |   |   |   |   |
| Research                and development                   |   |                                                         | 36,900     |                                             |   | 97,218                                                       |   |                                                          | 9,751      |   |   | 61,509 |   |
| General                and administrative                 |   |                                                         | 289,596    |                                             |   | 229,278                                                      |   |                                                          | 191,796    |   |   | 140,038 |   |
| Total                operating expenses                   |   |                                                         | 326,496    |                                             |   | 326,496                                                      |   |                                                          | 201,547    |   |   | 201,547 |   |
| Operating                loss                             |   |                                                         | (326,496   | )                                                |   | (326,496                                                     | )      |                                                          | (201,547   | ) |   | (201,547 | ) |
|                                                      |   |                                                         |       |                                             |   |                                                         |   |                                                          |       |   |   |   |   |
| Other                income, net                          |   |                                                         | 3,220      |                                             |   | 3,220                                                        |   |                                                          | 1,027      |   |   | 1,027 |   |
| Net                loss                                   |   | $                                                            | (323,726   | )                                                | $      | (323,726                                                     | )      | $                                                             | (200,520   | ) | $ | (200,520 | ) |
| Basic                and diluted net loss per share       |   | $                                                            | (0.01      | )                                                | $      | (0.01                                                        | )      | $                                                             | (0.01      | ) | $ | (0.01 | ) |
| Weighted                average common shares outstanding |   |                                                         | 37,596,012 |                                             |   | 37,596,012                                                   |   |                                                          | 37,550,762 |   |   | 37,550,762 |   |

***For      the Three Months ended March 31, 2007 and 2006***

----

**Liquidity      and Capital Resources**

**Item      3.**
**Controls      and Procedures**

**PART      II**
**OTHER      INFORMATION**

| **PART                  II** | **OTHER                  INFORMATION**                                                                                                                                                                                                         |
|------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         |                                                                                                                                                                                                                                           |
| **Item                  1.** | **Legal                  Proceedings**                                                                                                                                                                                                         |
|                         | None                                                                                                                                                                                                                                           |
|                         |                                                                                                                                                                                                                                           |
| **Item                  2.** | **Unregistered                  Sales of Equity Securities and Use of Proceeds**                                                                                                                                                               |
|                         | The                  Company made a Rule 506 Regulation D offering of 950,000 common                  shares at                  $0.50 per share to accredited investors, netting $475,000. No commissions                  or fees were paid. |
|                         |                                                                                                                                                                                                                                           |
| **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**                           |

----

**SpectraScience,      Inc.**

**FORM      10-QSB**

**March      31, 2007**

**SIGNATURES**

|                                           |                                                                                                                       |                                                            |
|------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------|
|                                           |                                                                                                                       |
|                                      |                                                                                                                  | **SpectraScience,                Inc.**(Registrant)   |
| **May                14,                2007** |                                                                                                                       | /s/ James              Hitchin                             |
| Date                                           | **James                Hitchin**President,                Chief Executive Officer and Chief Financial Officer              |
|                                           | (Principal                executive officer, principal financial officer, and principal                accounting officer) |

----