---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period endedJune 30, 2012

[   ] TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____to _____

Commission File Number: 000-54761

ADVANCED VENTURES CORP.(Exact name of registrant as specified in its charter)

|Delaware                                                             | 42-1772663                          
|-------------------------------------------------------------------- | ------------------------------------
|(State or other jurisdiction of incorporation or
      organization) | (I.R.S. Employer Identification No.)
|                                                                     |                                     
|No. 6 Houjiayu, Wangzuoxiang                                         |                                     
|Beijing, China                                                       | 100000                              
|(Address of principal executive offices)                             | (Zip Code)                          

+852-53872543Registrants telephone
number, including area code

N/A(Former name, former address and
former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934
during the preceding 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 [X]     No
[   ]

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files). Yes [ 
 ]     No [X]

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of large accelerated filer,
accelerated filer, non-accelerated filer, and smaller reporting company in
Rule 12b-2 of the Exchange Act.

|Large accelerated filer [   ]                                                     | Accelerated
      filer                 
       [   ]
|--------------------------------------------------------------------------------- | -----------------------------------------------------
|Non-accelerated filer   [   ] (Do not
      check if a smaller reporting company) | Smaller reporting company
[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 issuers
classes of common equity, as of the latest practicable date.
82,500,000 shares of common stock as of August 17, 2012.

---

TABLE OF CONTENTS

|USE
      OF NAMES                                                                                        | 1
|--------------------------------------------------------------------------------------------------------- | -
|CAUTIONARY
      STATEMENT REGARDING FORWARD-LOOKING STATEMENTS                                           | 1
|PART
      I  FINANCIAL INFORMATION                                                                      | 1
|Item
      1. Financial Statements                                                                        | 1
|Item
      2. Managements Discussion and Analysis of Financial Condition and Results
      of Operations | 2
|Item
      3. Quantitative and Qualitative Disclosures About Market Risk                                  | 7
|Item
      4. Controls and Procedures.                                                                    | 7
|PART
      II - OTHER INFORMATION                                                                         | 8
|Item
      1. Legal Proceedings                                                                           | 8
|Item
      1A. Risk Factors                                                                               | 8
|Item
      2. Unregistered Sales of Equity Securities and Use of Proceeds                                 | 8
|Item
      3. Defaults upon Senior Securities                                                             | 8
|Item
      4. Mine Safety Disclosures                                                                     | 8
|Item
      5. Other Information                                                                           | 8
|Item
      6. Exhibits                                                                                    | 8

---

USE OF NAMES

In this annual report, the terms Advanced Ventures,
Company, we, or our, unless the context otherwise requires, mean Advanced
Ventures Corp.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Certain statements made in this quarterly report on Form 10-Q
constitute forward-looking statements as that term is defined in applicable
securities laws. Forward-looking statements are projections in respect of future
events or our future financial performance. In some cases, you can identify
forward-looking statements by terminology such as may, should, intend,
expect, plan, anticipate, believe, estimate, predict, potential,
or continue or the negative of these terms or other comparable terminology.
These statements are only predictions and involve known and unknown risks,
uncertainties and other factors, which may cause our or our industrys actual
results, levels of activity or performance to be materially different from any
future results, levels of activity or performance expressed or implied by these
forward-looking statements. For a description of our risks and uncertainties,
refer to our Annual Report on Form 10-K for our fiscal year ended December 31,
2011 filed with the Securities and Exchange Commission on March 27, 2012.

Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity or performance. These forward-looking statements speak only
as of the date on which they are made, and except to the extent required by
applicable law, including the securities laws of the United States, we undertake
no obligation to update any forward-looking statements to reflect events or
circumstances after the date on which the statement is made or to reflect the
occurrence of unanticipated events. In addition, we cannot assess the impact of
each factor on our business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those contained in
any forward-looking statements. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by the cautionary statements contained in
this quarterly report.

PART I  FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

It is the opinion of management that the consolidated unaudited
interim financial statements for the three and six months ended June 30, 2012
and 2011 include all adjustments necessary in order to ensure that the
consolidated unaudited interim financial statements are not misleading. These
consolidated unaudited interim financial statements reflect all adjustments
which are, in the opinion of management, necessary to present fairly the
financial position, results of operations and cash flows for the interim periods
presented in accordance with accounting principles generally accepted in the
United States of America. Except where noted, these consolidated unaudited
interim financial statements follow the same accounting policies and methods of
their application as our Companys audited annual financial statements for the
year ended December 31, 2011. All adjustments are of a normal recurring nature.
These consolidated unaudited interim financial statements should be read in
conjunction with our Companys audited annual financial statements as of and for
the year ended December 31, 2011.

1

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ADVANCED VENTURES CORP. AND SUBSIDIARY(A
      DEVELOPMENT STAGE COMPANY) INDEX TO FINANCIAL STATEMENTS JUNE 30, 2012

|Consolidated Financial Statements-                                                                                                              |    
|----------------------------------------------------------------------------------------------------------------------------------------------- | ---
|                                                                                                                                                |    
|Consolidated
      Balance Sheets as of June 30, 2012 and December 31, 2011                                                                     | F-2
|                                                                                                                                                |    
|Consolidated
      Statements of Operations for the Three Months and Six Month Ended June 30,
      2012 and 2011 and Cumulative from Inception | F-3
|                                                                                                                                                |    
|Consolidated
      Statement of Changes in Stockholders Equity for the Period from Inception
      Through June 30, 2012                       | F-4
|                                                                                                                                                |    
|Consolidated
      Statements of Cash Flows for the Six Months Ended June 30, 2012 and 2011
      And Cumulative from Inception                 | F-5
|                                                                                                                                                |    
|Notes
      to Consolidated Financial Statements                                                                                                | F-6

1F

---

ADVANCED VENTURES CORP. AND SUBSIDIARY (A
      DEVELOPMENT STAGE COMPANY) CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2012 AND DECEMBER 31, 2011

|ASSETS                                                                                                                              |  
|----------------------------------------------------------------------------------------------------------------------------------- | -
|                                                                                                                                    |  
|                                                                                                                                    |  
|                                                                                                                                    |  
|                                                                                                                                    |  
|Current Assets:                                                                                                                     |  
|Cash and cash equivalents                                                                                                           | $
|                                                                                                                                    |  
|Total current assets                                                                                                                |  
|                                                                                                                                    |  
|Total Assets                                                                                                                        | $
|                                                                                                                                    |  
|LIABILITIES AND STOCKHOLDERS' (DEFICIT)                                                                                             |  
|                                                                                                                                    |  
|Current Liabilities:                                                                                                                |  
|Accounts payable and accrued liabilities                                                                                            | $
|Loans from related parties - Directors and stockholders                                                                             |  
|                                                                                                                                    |  
|Total current liabilities                                                                                                           |  
|                                                                                                                                    |  
|Total liabilities                                                                                                                   |  
|                                                                                                                                    |  
|Commitments and Contingencies                                                                                                       |  
|                                                                                                                                    |  
|Stockholders' Equity (Deficit):                                                                                                     |  
|Common stock, par value $.0001 per share, 3,000,000,000
      shares 
         authorized; 82,500,000 shares issued and outstanding |  
|Additional paid-in capital                                                                                                          |  
|(Deficit) accumulated during the development
      stage                                                                            |  
|                                                                                                                                    |  
|Total stockholders' Equity (deficit)                                                                                                |  
|                                                                                                                                    |  
|Total Liabilities and Stockholders' Equity
      (Deficit)                                                                          | $

* Restated to reflect forward stock split

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

2F

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ADVANCED VENTURES CORP. AND SUBSIDIARY(A
      DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2012 AND 2011AND CUMULATIVE FROM INCEPTION (JULY 6, 2010)THROUGH JUNE
    30, 2012(Unaudited)

Three Months Ended
      
      
      Six Months Ended
      
      
      CumulativeJune 30,
      
      
      June 30,
      
      
      From2012
      
      
      2011
      
      
      2012
      
      
      2011
      
      
      InceptionRevenues
      $
      -
      
      $
      -
      
      $
      -
      
      $
      -
      
      $
      -Expenses:Professional fees
      
      18,070
      
      
      18,861
      
      
      49,603
      
      
      25,311
      
      
      122,340Patent
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      17,500Legal - incorporation
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      1,500Franchise Tax
      
      -
      
      
      -
      
      
      400
      
      
      -
      
      
      400Miscellaneous expense
      
      77
      
      
      -
      
      
      77
      
      
      -
      
      
      1,137Total expenses
      
      18,147
      
      
      18,861
      
      
      50,080
      
      
      25,311
      
      
      142,877(Loss) from Operations
      
      (18,147
      )
      
      (18,861
      )
      
      (50,080
      )
      
      (25,311
      )
      
      (142,877
      )Other Income (Expense)
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      -Foreign currency transaction gains
      
      564
      
      
      2,438
      
      
      823
      
      
      2,438
      
      
      3,696Provision for income taxes
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      -Net (Loss)
      $
      (17,583
      )
      $
      (16,423
      )
      $
      (49,257
      )
      $
      (22,873
      )
      $
      (139,181
      )(Loss) Per Common Share:(Loss) per common share - Basic and Diluted
      $
      (0.00
      )
      $
      (0.00
      )
      $
      (0.00
      )
      $
      (0.00
      )Weighted Average Number of Common Shares Outstanding
            - Basic and Diluted
      
      82,500,000
      
      
      51,181,320*
      
      
      82,500,000
      
      
      48,107,730
      *


* Restated to reflect forward stock split

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

3F

---

ADVANCED VENTURES CORP. AND SUBSIDIARY(A
      DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENT OF CHANGES IN
    STOCKHOLDERS' EQUITY FOR THE PERIOD FROM INCEPTION (JULY 6, 2010) THROUGH JUNE 30, 2012(Unaudited)

(Deficit)AccumulatedAdditional
      
      
      During theCommon stock *
      
      
      Paid-in
      
      
      DevelopmentShares
      
      
      Amount
      
      
      Capital
      
      
      Stage
      
      
      TotalsBalance - at inception
      
      -
      
      $
      -
      
      $
      -
      
      $
      -
      
      $
      -Common stock issued for cash
      
      45,000,000
      
      
      4,500
      
      
      (4,200
      )
      
      -
      
      
      300Net (loss) for the period
      
      -
      
      
      -
      
      
      -
      
      
      (30,203
      )
      
      (30,203
      )Balance - Decmber 31, 2010
      
      45,000,000
      
      $
      4,500
      
      $
      (4,200
      )
      $
      (30,203
      )
      $
      (29,903
      )Common stock issued for cash
      
      37,500,000
      
      
      3,750
      
      
      51,250
      
      
      -
      
      
      55,000Net (loss) for the period
      
      -
      
      
      -
      
      
      -
      
      
      (59,721
      )
      
      (59,721
      )Balance - December 31, 2011
      
      82,500,000
      
      $
      8,250
      
      $
      47,050
      
      $
      (89,924
      )
      $
      (34,624
      )Net (loss) for the period
      
      -
      
      
      -
      
      
      -
      
      
      (49,257
      )
      
      (49,257
      )Balance - June 30, 2012
      
      82,500,000
      
      
      8,250
      
      
      47,050
      
      
      (139,181
      )
      
      (83,881
      )


* Restated to reflect forward stock split

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

4F

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ADVANCED VENTURES CORP. AND SUBSIDIARY(A
      DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2012 AND 2011,AND
    CUMULATIVE FROM INCEPTION (JULY 6, 2010)THROUGH JUNE 30, 2012(Unaudited)

|                                                                                                     |   | Six Months Ended |   |   | Cumulative |  
|---------------------------------------------------------------------------------------------------- | - | ---------------- | - | - | ---------- | -
|                                                                                                     |   | June 30,         |   |   | From       |  
|                                                                                                     |   | 2012             |   |   | 2011       |  
|                                                                                                     |   |                  |   |   |            |  
|Operating Activities:                                                                                |   |                  |   |   |            |  
|Net (loss)                                                                                           | $ | (49,257          | ) | $ | (22,873    | )
|Adjustments to reconcile net (loss) to net cash
               (used in) operating
      activities: |   |                  |   |   |            |  
|Changes in net assets and liabilities-                                                               |   |                  |   |   |            |  
|Prepaid expenses                                                                                     |   | -                |   |   | -          |  
|Accounts payable and accrued liabilities                                                             |   | 1,105            |   |   | (4,000     | )
|                                                                                                     |   |                  |   |   |            |  
|Net Cash Used in Operating Activities                                                                |   | (48,152          | ) |   | (26,873    | )
|                                                                                                     |   |                  |   |   |            |  
|Investing Activities:                                                                                |   | -                |   |   | -          |  
|                                                                                                     |   |                  |   |   |            |  
|Net Cash Used in Investing Activities                                                                |   | -                |   |   | -          |  
|                                                                                                     |   |                  |   |   |            |  
|Financing Activities:                                                                                |   |                  |   |   |            |  
|Proceeds from stock issued                                                                           |   | -                |   |   | 75,000     |  
|Offering costs paid                                                                                  |   | -                |   |   | -          |  
|Proceeds from shareholder loans                                                                      |   | 39,372           |   |   | 29,311     |  
|                                                                                                     |   |                  |   |   |            |  
|Net Cash Provided by Financing Activities                                                            |   | 39,372           |   |   | 104,311    |  
|                                                                                                     |   |                  |   |   |            |  
|Net (Decrease) Increase in Cash                                                                      |   | (8,780           | ) |   | 77,438     |  
|                                                                                                     |   |                  |   |   |            |  
|Cash - Beginning of Period                                                                           |   | 9,991            |   |   | 300        |  
|                                                                                                     |   |                  |   |   |            |  
|Cash - End of Period                                                                                 | $ | 1,211            |   | $ | 77,738     |  
|                                                                                                     |   |                  |   |   |            |  
|Supplemental Disclosure of Cash Flow Information:                                                    |   |                  |   |   |            |  
|Cash paid during the period for:                                                                     |   |                  |   |   |            |  
|Interest                                                                                             | $ | -                |   | $ | -          |  
|Income taxes                                                                                         | $ | -                |   | $ | -          |  

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

5F

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ADVANCED VENTURES CORP. AND SUBSIDIARY(A
      DEVELOPMENT STAGE COMPANY) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(1) Summary of Significant Accounting Policies

Basis of Presentation and Organization

Advanced Ventures Corp. (Advanced Ventures or the Company)
  is a Delaware corporation in the development stage and has not commenced
  operations. The Company was incorporated under the laws of the State of Delaware
  on July 6, 2010. The business plan of the Company is to develop a commercial
  application of the design in a patent, Catheter with integral anchoring means.
  The Company also intends to enhance the existing prototype, and manufacture and
  market the product and/or seek third party entities interested in licensing the
  rights to manufacture and market the device.

Principles of Consolidation

The consolidated financial statements reflect the financial
  position and operations of the Company and its wholly- owned subsidiary,
  Advanced Ventures (HK) Ltd. Advanced Ventures (HK) Ltd. was incorporated in Hong
  Kong on March 27, 2012.

Unaudited Interim Financial Statements

The interim financial statements of the Company as of June 30,
  2012, and for the periods then ended, and cumulative from inception, are
  unaudited. However, in the opinion of management, the interim financial
  statements include all adjustments, consisting of only normal recurring
  adjustments, necessary to present fairly the Companys financial position as of
  June 30, 2012, and the results of its operations and its cash flows for the
  periods ended June 30, 2012, and cumulative from inception. These results are
  not necessarily indicative of the results expected for the calendar year ending
  December 31, 2012. The accompanying financial statements and notes thereto do
  not reflect all disclosures required under accounting principles generally
  accepted in the United States. Refer to the Companys audited financial
  statements as of December 31, 2011, filed with the SEC, for additional
  information, including significant accounting policies.

Cash and Cash Equivalents

For purposes of reporting within the statement of cash flows,
  the Company considers all cash on hand, cash accounts not subject to withdrawal
  restrictions or penalties, and all highly liquid debt instruments purchased with
  a maturity of three months or less to be cash and cash equivalents.

Revenue Recognition

The Company is in the development stage and has yet to realize
  revenues from operations. Once the Company has commenced operations, it will
  recognize revenues when delivery of goods or completion of services has occurred
  provided there is persuasive evidence of an agreement, acceptance has been
  approved by its customers, the fee is fixed or determinable based on the
  completion of stated terms and conditions, and collection of any related
  receivable is probable.

Loss per Common Share

Basic loss per share is computed by dividing the net loss
  attributable to the common stockholders by the weighted average number of shares
  of common stock outstanding during the period. Fully diluted loss per share is
  computed similar to basic loss per share except that the denominator is
  increased to include the number of additional common shares that would have been
  outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
  There were no dilutive financial instruments issued or outstanding for the
  period ended June 30, 2012.

6F

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Income Taxes

Income taxes are accounted for under the asset and liability
  method. Deferred tax assets and liabilities are determined based on temporary
  differences between the bases of certain assets and liabilities for income tax
  and financial reporting purposes. The deferred tax assets and liabilities are
  classified according to the financial statement classification of the assets and
  liabilities generating the differences.

The Company maintains a valuation allowance with respect to
  deferred tax assets. The Company establishes a valuation allowance based upon
  the potential likelihood of realizing the deferred tax asset and taking into
  consideration the Companys financial position and results of operations for the
  current period. Future realization of the deferred tax benefit depends on the
  existence of sufficient taxable income within the carryforward period under the
  Federal tax laws.

Changes in circumstances, such as the Company generating
  taxable income, could cause a change in judgment about the realizability of the
  related deferred tax asset. Any change in the valuation allowance will be
  included in income in the year of the change in estimate.

Fair Value of Financial Instruments

The Company estimates the fair value of financial instruments
  using the available market information and valuation methods. Considerable
  judgment is required in estimating fair value. Accordingly, the estimates of
  fair value may not be indicative of the amounts the Company could realize in a
  current market exchange. The carrying value of accounts payable, accrued
  liabilities, and loans from directors and stockholders approximated fair value
  due to the short-term nature and maturity of these instruments.

Deferred Offering Costs

The Company defers as other assets the direct incremental costs
  of raising capital until such time as the offering is completed. At the time of
  the completion of the offering, the costs are charged against the capital
  raised. Should the offering be terminated, deferred offering costs are charged
  to operations during the period in which the offering is terminated.

Impairment of Long-Lived Assets

The Company evaluates the recoverability of long-lived assets
  and the related estimated remaining lives when events or circumstances lead
  management to believe that the carrying value of an asset may not be
  recoverable. For the period ended June 30, 2012, no events or circumstances
  occurred for which an evaluation of the recoverability of long-lived assets was
  required.

Common Stock Registration Expenses

The Company considers incremental costs and expenses related to
  the registration of equity securities with the SEC, whether by contractual
  arrangement as of a certain date or by demand, to be unrelated to original
  issuance transactions. As such, subsequent registration costs and expenses are
  expensed as incurred.

Estimates

The financial statements are prepared on the basis of
  accounting principles generally accepted in the United States. The preparation
  of financial statements in conformity with generally accepted accounting
  principles requires management to make estimates and assumptions that
  affect the reported amounts of assets, liabilities and expenses. Actual results
  could differ from those estimates made by management.

7F

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Fiscal Year End

The Company has adopted a fiscal year end of December 31.

Recent Accounting Pronouncements

In May 2011, the FASB issued ASU 2011-04, "Fair Value
  Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and
  Disclosure Requirements in U.S. GAAP and International Financial Reporting
  Standards ("IFRSs")." Under ASU 2011-04, the guidance amends certain accounting
  and disclosure requirements related to fair value measurements to ensure that
  fair value has the same meaning in U.S. GAAP and in IFRS and that their
  respective fair value measurement and disclosure requirements are the same. ASU
  2011-04 is effective for public entities during interim and annual periods
  beginning after December 15, 2011. Early adoption is not permitted. The Company
  does not believe that the adoption of ASU 2011-04 will have a material impact on
  the Company's results of operation and financial condition.

In June 2011, the FASB issued ASU No. 2011-05, "Comprehensive
  Income (ASC Topic 220): Presentation of Comprehensive Income," ("ASU 2011-05")
  which amends current comprehensive income guidance. This accounting update
  eliminates the option to present the components of other comprehensive income as
  part of the statement of shareholders' equity. Instead, comprehensive income
  must be reported in either a single continuous statement of comprehensive income
  which contains two sections, net income and other comprehensive income, or in
  two separate but consecutive statements. ASU 2011-05 will be effective for
  public companies during the interim and annual periods beginning after Dec. 15,
  2011 with early adoption permitted. The Company does not believe that the
  adoption of ASU 2011-05 will have a material impact on the Company's results of
  operation and financial condition.

There were various other updates recently issued, most of which
  represented technical corrections to the accounting literature or application to
  specific industries. None of the updates are expected to a have a material
  impact on the Company's financial position, results of operations or cash flows.

(2) Development Stage Activities and Going Concern

The Company is currently in the development stage, and has no
  operations. The business plan of the Company is to develop a commercial
  application of the design in a patent of an Catheter with integral anchoring
  means. The Company also intends to enhance the existing prototype, and
  manufacture and market the product and/or seek third party entities interested
  in licensing the rights to manufacture and market the device.

On July 27, 2010, the Company entered into a Patent Transfer
  and Sale Agreement whereby the Company acquired all of the right, title and
  interest in the patent known as the Catheter with integral anchoring means for
  consideration of $17,500. The United States Patent number is 6,743,209.

The Company commenced a capital formation activity by filing a
  Registration Statement on Form S-1 to the SEC to register and sell in a
  self-directed offering 37,500,000 (post forward stock split) shares of newly
  issued common stock for proceeds of up to $75,000. The Registration Statement
  was declared effective on May 10, 2011. On June 16, 2011, the Company issued
  37,500,000 (post forward stock split)shares of common stock pursuant to
  the Registration Statement on Form S-1 for proceeds of $75,000. The offering
  costs of $20,000 related to this capital formation activity were charged against
  the capital raised.

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. The
  Company has not established any source of revenue to cover its operating costs,
  and as such, has incurred an operating loss since inception. Further,
  as of June 30, 2012, the cash resources of the Company were insufficient to meet
  its current business plan. These and other factors raise substantial doubt about
  the Companys ability to continue as a going concern. The accompanying financial
  statements do not include any adjustments to reflect the possible future effects
  on the recoverability and classification of assets or the amounts and
  classification of liabilities that may result from the possible inability of the
  Company to continue as a going concern.

8F

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(3) Patent

On July 27, 2010, the Company entered into a Patent Transfer
  and Sale Agreement whereby the Company acquired all of the right, title and
  interest in the patent known as the Catheter with integral anchoring means for
  consideration of $17,500. The United States Patent number is 6,743,209. Under
  the terms of the Patent Transfer and Sale Agreement, the Company was assigned
  rights to the patent free of any liens, claims, royalties, licenses, security
  interests or other encumbrances. The cost of obtaining the patent was expensed.
  The patent was filed on June 1, 2004 and assigned to the Company on July 27,
  2010.

(4) Loans from Related Parties - Directors and
  Stockholders

As of June 30, 2012, loans from related parties amounted to
  $67,577 and represented working capital advances from Directors who are also
  stockholders of the Company. The loans are unsecured, non-interest bearing, and
  due on demand.

(5) Common Stock

On July 8, 2010, the Company issued 45,000,000 (post forward
  stock split) shares of its common stock to individuals who are Directors and
  officers of the company for $300.

The Company commenced a capital formation activity by filing a
  Registration Statement on Form S-1 to the SEC to register and sell in a
  self-directed offering 37,500,000 (post forward stock split) shares of newly
  issued common stock for proceeds of up to $75,000. The Registration Statement
  was declared effective on May 10, 2011. On June 16, 2011, the Company issued
  37,500,000 (post forward stock split)shares of common stock pursuant to
  the Registration Statement on Form S-1 for proceeds of $75,000. The offering
  costs of $20,000 related to this capital formation activity were charged against
  the capital raised.

On February 21, 2012, the Company filed a certificate of
  amendment of certificate of incorporation to increase the amount of authorized
  common shares to 3,000,000,000 and to affect a forward stock split of the issued
  and outstanding common shares on a basis of 15 for 1 all to be effective as of
  March 7, 2012. The accompanying financial statements and related notes thereto
  have been adjusted accordingly to reflect this forward stock split.

(6) Income Taxes

The provision (benefit) for income taxes for the period ended
  June 30, 2012 and 2011 was as follows (assuming a 23% effective tax rate):

9F

---

2012
      
      
      2011Current Tax Provision:Federal-Taxable income
      $
      -
      
      $
      -Total current tax provision
      $
      -
      
      $
      -Deferred Tax Provision:Federal-Loss carryforwards
      $
      11,311
      
      $
      5,261Amortization deduction
      
      134
      
      
      134Change in valuation allowance
      
      (11,446
      )
      
      (5,395
      )Total deferred tax provision
      $
      -
      
      $
      -


The Company had deferred income tax assets as of June 30, 2012
  and December 31, 2011, as follows:

2012
      
      
      2011Loss carryforwards
      $
      28,506
      
      $
      17,060Less - Valuation allowance
      
      (28,506
      )
      
      (17,060
      )Total net deferred tax assets
      $
      -
      
      $
      -


The Company provided a valuation allowance equal to the
  deferred income tax assets for the periods ended June 30, 2012 and December 31,
  2011, because it is not presently known whether future taxable income will be
  sufficient to utilize the loss carryforwards.

As of June 30, 2012, the Company had approximately $124,000 in
  tax loss carryforwards that can be utilized in future periods to reduce taxable
  income, and expire by the year 2032.

The Company did not identify any material uncertain tax
  positions. The Company did not recognize any interest or penalties for
  unrecognized tax benefits.

The Company will file income tax returns in the United States.
  All tax years are closed by expiration of the statute of limitations.

(7) Related Party Transactions

As described in Note 4, as of June 30, 2012, the Company owed
  $67,577 to Directors, officers, and principal stockholders of the Company for
  working capital loans.

As described in Note 5, on July 8, 2010, the Company issued
  45,000,000 (post forward stock split) shares of its common stock to Directors
  and officers for $300.

10F

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ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

The following discussion of our financial condition, changes in
financial condition and results of operations for the three and six months ended
June 30, 2012 and 2011 should be read in conjunction with our consolidated
unaudited interim financial statements and related notes for the three and six
months ended June 30, 2012 and 2011. The following discussion contains
forward-looking statements that involve risks, uncertainties and assumptions.
Our actual results may differ materially from those anticipated in these
forward-looking statements as a result of many factors. For a description of our
risks and uncertainties, refer to our Annual Report on Form 10-K for the fiscal
year ended December 31, 2011 filed with the Securities and Exchange Commission
on March 27, 2012.

Certain information and footnote disclosures normally included
in financial statements prepared in accordance with accounting principles
generally accepted in the United States of America have been condensed or
omitted. It is suggested that these financial statements be read in conjunction
with the financial statements and notes thereto included in the Companys
December 31, 2011 audited financial statements. The results of operations for
the periods ended June 30, 2012 and the same periods last year are not
necessarily indicative of the operating results for the full years.

Overview

We were incorporated in Delaware on July 6, 2010 and are a
development stage company. On July 27, 2010, we entered into an exclusive
worldwide patent sale agreement (the Patent Transfer and Sales Agreement) with
Ilanit Appelfeld (the Seller), in relation to a patented technology, U.S.
Patent Number: 6,743,209 (the Patent), for a catheter with a integral
anchoring mechanism. The patented technology has the potential to be adopted as
a standard in all medical facilities, making a decisive contribution towards
significantly and reliably securing a urethral catheter to the outside of a
patients body in order to prevent or restrict undesirable movement or
displacement of the catheter. The invention concept is flexible enough that it
can be applied to humans as well as to animals, thus further increasing the
marketing potential for a product based on the Patent.

Based on the Patent, the Company believes that this apparatus
will help prevent or restrict undesirable movement or displacement of a
catheter. However, until the Company can successfully develop a prototype and
test it, the Company cannot currently estimate the full extent of the benefits
to be gained from this apparatus.

The patent and technology were transferred to Advanced Ventures
Corp. in exchange of payment to Ilanit Appelfeld of $17,500 (seventeen thousand
five hundred United States Dollars), according to the terms and conditions
specified in the Patent Transfer and Sales Agreement related to U.S. Patent
Number: 6,743,209.

The invention that is the subject of the Patent is for a
catheter with an integral anchoring means which is secured to the outside of a
human or other animal body by suturing, tying or taping to a tubular,
depression-shaped anchor member that is integrally formed during manufacture
with the forming of the catheter, resulting in a one-piece multipurpose
combination construction unit..

On March 7, 2012, the certificate of amendment to our
certificate of incorporation that we filed became effective in order to increase
our amount of authorized capital from 200,000,000 shares of common stock with a
par value of $0.0001 to 3,000,000,000 shares of common stock with a par value of
$0.0001 and to effect a fifteen (15) for one (1) forward stock split of our
issued and outstanding shares of common stock. As a result of the forward stock
split, our issued and outstanding share capital increased from 5,500,000 shares
of common stock to 82,500,000 shares of common stock.

We maintain our statutory registered agents office at Delaware
Intercorp, Inc. 113 Barksdale Professional Center, Newark, DE, 19711 and our
business office is located at No. 6 Houjiayu, Wangzuoxiang, Beijing, China,
100000. This is our mailing address as well.

2

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Our Business

Advanced Ventures has acquired a catheter with an integral
anchoring means which is secured to the outside of a human or other animal body
by suturing, tying or taping to a tubular, depression-shaped anchor member that
is integrally formed during manufacture with the forming of the catheter. The
device operates by an anchoring means, which is secured to the outside of a
human or other animal body by suturing, tying or taping to a tubular,
depression-shaped anchor member that is integrally formed during manufacture
with the forming of the catheter. To be effective a catheter with integral
anchoring means must be easy to use and must be cost effective. Moreover, the
Company believes that its catheter with integral anchoring means should greatly
reduce bacterial growth. With the foregoing in mind, it would be greatly
advantageous to provide catheter with an integral anchoring means that overcomes
these costs and housekeeping problems associated with previous anchoring means,
by operating with a standard catheter.

Based on the Patent, the Company believes that this apparatus
will significantly reduce bacterial growth and infection. However, until the
Company can successfully develop a prototype and test it, the Company cannot
currently estimate the full extent of the benefits to be gained from this
apparatus.

Advanced Ventures device is based on attaching urethral
catheters to or at the outside of a human or other animal body by suturing,
tying or taping to a tubular depression-shaped anchor member that is
simultaneously and integrally constructively formed with the catheter tube
proper during manufacture resulting in a single one-piece solitary tapered
combination construction unit with no breaks or divisions. The Company believes
it would be more advantageous that this tubular depression-shaped anchor member
of the catheter be integrally formed during manufacture with the forming of the
overall catheter resulting in a one-piece urethral catheter construction unit.
The former construction requires the manufacture and assembly of multiple
components in order to produce an equal unit. The Company believes its
built-in tubular depression-shaped anchor member of this catheter requires
less production material than that of other patents thereby significantly
reducing manufacturing costs. Also there are no individual or additional
anchoring components to inspect, test, sterilize, package or distribute. The
Company intends to develop a fully operational valid working prototype, which
can then be used to develop and manufacture the actual product. However, until
the Company can successfully develop a prototype and test it, the Company cannot
currently estimate the full extent of the benefits to be gained from this
apparatus.

During the second quarter of 2011 the Company raised gross
proceeds of $75,000 pursuant to its effective Form S-1 Registration Statement
and issued 37,500,000 post forward stock split shares of common stock that were
registered pursuant to the Form S-1 Registration Statement.

Employees

We currently do not have any full time employees.

Subsidiary

We have one wholly owned subsidiary, Advanced Ventures (HK)
Limited, which was incorporated on March 27, 2012.

Transfer Agent

We have engaged Nevada Agency and Transfer Company as our stock
transfer agent. Nevada Agency and transfer Company is located at 50 West Liberty
Street, Reno, Nevada 89501. Their telephone number is (775) 322-0626 and their
fax number is (775) 322-5623. The transfer agent is responsible for all
record-keeping and administrative functions in connection with our issued and
outstanding common stock.

Plan of Operations

We are a development stage company that has acquired the
technology and received a patent for a catheter with an integral anchoring
means.

3

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We intended to develop a working prototype for the patented
technology, however, at this time we are considering other business
opportunities that may bring quicker and greater value to our shareholders.

The design and product development for a catheter with an
integral anchoring means is divided into three individual stages:

- Technical Concept/Definition (three months)
- Engineering Specification (four months)
- Engineering & Preparation for Production (six months)

Financial Condition

During the twelve-month period following the date of this
quarterly report, we anticipate that we will not generate any revenue.
Accordingly, we will be required to obtain additional financing in order to
pursue our plan of operations during and beyond the next twelve months. We
believe that debt financing will not be an alternative for funding as we do not
have tangible assets to secure any debt financing. We anticipate that additional
funding will be in the form of equity financing from the sale of our common
stock or shareholder loans. However, we do not have any financing arranged and
we cannot provide investors with any assurance that we will be able to raise
sufficient funding from the sale of our common stock or shareholder loans to
develop a working prototype for the patented technology or to pursue other
business opportunities. In the absence of such financing, we will not be able to
continue moving forward with developing a working prototype of the catheter with
an integral anchoring means or pursue other business opportunities.

Results of Operations

The following table sets forth our results of operations from
inception on July 6, 2010 to June 30, 2012 as well as for the three and six
month periods ended June 30, 2012 and 2011.

July 10, 2010Three months ended
      
      
      Nine months ended
      
      
      (inception) toJune 30,
      
      
      June 30,
      
      
      June 30,2012
      
      
      2011
      
      
      2012
      
      
      2011
      
      
      2012Revenues
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      -Expenses:Professional Fees
      $
      18,070
      
      $
      18,861
      
      $
      49,603
      
      $
      25,311
      
      $
      122,340Patent
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      17,500Legal  incorporation
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      1,500Franchise tax
      
      -
      
      
      -
      
      
      400
      
      
      -
      
      
      400Miscellaneous
        expense
      
      77
      
      
      -
      
      
      77
      
      
      -
      
      
      1,137Total
        Expenses
      
      18,147
      
      
      18,861
      
      
      50,080
      
      
      25,311
      
      
      142,877(Loss) From Operations
      
      (18,147
      )
      
      (18,861
      )
      
      (50,080
      )
      
      (25,311
      )
      
      (142,877
      )Other Income (Expense)
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      -Foreign currency transaction
        gains
      
      564
      
      
      2,438
      
      
      823
      
      
      2,438
      
      
      3,696Provision for income taxes
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      -Net (Loss)
      
      (17,583
      )
      
      (16,423
      )
      
      (49,257
      )
      
      (22,873
      )
      
      (139,181
      )


4

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Three Months Ended June 30, 2012 Compared to Three Months
Ended June 30, 2011

During the three months ended June 30, 2012 and June 30, 2011,
respectively, we did not generate any revenue.

Professional fees: Professional fees were $18,070 and
$18,861 for the three month periods ended June 30, 2012 and 2011, respectively.
The slight decrease fewer filings related to our reporting obligations for the
three month period ended June 30, 2012.

Patent: Patent expenses were $Nil and $Nil for the three
month periods ended June 30, 2012 and 2011, respectively.

Legal - incorporation: Legal - incorporation expenses
were $Nil and $Nil for the three month periods ended June 30, 2012 and 2011,
respectively.

Franchise Tax: Franchise Taxes were $Nil and $nil for
the three month periods ended June 30, 2012 and 2011, respectively.

Miscellaneous: Miscellaneous expenses were $77 and $Nil
for the three month periods ended June 30, 2012 and 2011, respectively.

Net Loss: The net loss was $17,583 and $16,423 for the
three month periods ended June 30, 2012 and 2011, respectively. The increase in
net loss of $1,160 resulted primarily from a decrease in foreign currency
transaction gains.

Six Months Ended June 30, 2012 Compared to Six Months
Ended June 30, 2011

During the six months ended June 30, 2012 and June 30, 2011,
respectively, we did not generate any revenue.

Professional fees: Professional fees were $49,603 and
$25,311 for the six month periods ended June 30, 2012 and 2011, respectively.
This increase was due to the increase in filings related to our reporting
obligations for the six month period ended June 30, 2012.

Patent: Patent expenses were $Nil and $Nil for the six
month periods ended June 30, 2012 and 2011, respectively.

Legal - incorporation: Legal - incorporation expenses
were $Nil and $Nil for the six month periods ended June 30, 2012 and 2011,
respectively.

Franchise Tax: Franchise Taxes were $400 and $nil for
the six month periods ended June 30, 2012 and 2011, respectively.

Miscellaneous: Miscellaneous expenses were $77 and $Nil
for the six month periods ended June 30, 2012 and 2011, respectively.

Net Loss: The net loss was $49,257 and $22,873 for the
six month periods ended June 30, 2012 and 2011, respectively. The increase in
net loss of $26,384 resulted primarily from an increase in professional
fees.

Liquidity and Capital Resources

Our financial statements have been prepared assuming that we
will continue as a going concern and, accordingly, do not include adjustments
relating to the recoverability and realization of assets and classification of
liabilities that might be necessary should we be unable to continue in
operation.

As at June 30, 2012, our current assets were $1,211 and our
current liabilities were $85,092, resulting in a working capital deficit of
($83,881). As at June 30, 2012, our total assets were $1,211 compared to total
assets of $9,991 as at December 31, 2011. As at June 30, 2012, our current
liabilities were $85,092 compared to current liabilities of $44,615 as at
December 31, 2011. Our current liabilities consisted of $17,515 in accounts
payable and accrued liabilities and $67,577 in loans from related parties.

5

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Stockholders deficit increased from ($34,624) as at December
31, 2011 to ($83,881) as at June 30, 2012.

We are a development stage company and have not generated any
revenue to date from our activities. Despite our hope for revenues in the
foreseeable future, we believe that revenues will be sparse and irregular and,
if we receive any at all, will be far less than necessary to carry out our
business forward without additional financing. We have $1,211 in cash as of June
30, 2012. Thus, in order to meet our capital needs, we will need to raise funds
from other sources to remain in business. We intend to raise additional money
through private placements or shareholder loans; however, there can be no
assurance that we will be able to raise additional money in the future. If we
need additional capital and cannot raise the necessary amount, we will either be
required to suspend activities until we do raise the cash or cease activity
entirely.

In addition to the issues set out above regarding our ability
to raise capital, global economies are currently undergoing a period of economic
uncertainty. This has resulted in numerous adverse effects, including
unprecedented volatility in financial markets and stock prices, slower economic
activity, decreased consumer confidence and commodity prices and reduced
corporate profits and capital spending. We anticipate that the current economic
conditions and the credit shortage will adversely impact our ability to raise
financing.

Net Cash Used in Operating Activities

We have not generated positive cash flows from operating
activities. For the six months ended June 30, 2012, net cash flow used in
operating activities was ($48,152) compared to net cash flow used in operating
activities of ($26,873) for the six months ended June 30, 2011. Net cash flow
used in operating activities during the six months ended June 30, 2012 consisted
primarily of a net loss of ($49,257) adjusted by $1,105 of changes to accounts
payable and accrued liabilities. Net cash flow used in operating activities
during the six months ended June 30, 2011 consisted of a net loss of ($22,873)
adjusted by $4,000 of changes to accounts payable and accrued liabilities.

Net Cash From Financing Activities

During the six months ended June 30, 2012, net cash flow
provided from financing activities was $39,372 compared to net cash flow
provided from financing activities of $104,311 for the six months ended June 30,
2011. Net cash flow provided from financing activities during the six months
ended June 30, 2012 consisted of $39,372 from the proceeds from shareholder
loans.

Off-Balance Sheet Arrangements

There are no off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on our financial condition,
changes in financial condition, revenues or expenses, results of operations,
liquidity, capital expenditures or capital resources that is material to
investors.

Going Concern Statement

We have negative working capital, have not yet received
revenues from sales of products or services, and have recurring losses from
operations. The continuation of our company as a going concern is dependent upon
our Company attaining and maintaining profitable operations and raising
additional capital. The financial statements do not include any adjustment
relating to the recovery and classification of recorded asset amounts or the
amount and classification of liabilities that might be necessary should our
Company discontinue operations.

Due to the uncertainty of our ability to meet our current
operating expenses and the capital expenses noted above, in their report on the
annual financial statements for the year ended December 31, 2011, our
independent auditors included an explanatory paragraph regarding substantial
doubt about our ability to continue as a going concern. Our financial statements
contain additional note disclosures describing the circumstances that lead to
this disclosure by our independent auditors.

6

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The continuation of our business is dependent upon us raising
additional financial support. The issuance of additional equity securities by us
could result in a significant dilution in the equity interests of our current
stockholders. Obtaining commercial loans, assuming those loans would be
available, will increase our liabilities and future cash commitments.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of
the Exchange Act and are not required to provide the information required under
this item.

ITEM 4. CONTROLS AND PROCEDURES.

Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are
designed to ensure that information required to be disclosed in our reports
filed under the Securities Exchange Act of 1934, as amended, is recorded,
processed, summarized and reported within the time periods specified in the
SECs rules and forms, and that such information is accumulated and communicated
to our management, including our Chief Executive Officer, Christino Rio, and
Chief Financial Officer, Benson Lim (being our principal executive officer and
principal financial and accounting officer), to allow for timely decisions
regarding required disclosure. Our Chief Executive Officer and Chief Financial
Officer are responsible for establishing and maintaining disclosure controls and
procedures for our Company.

Our management has evaluated the effectiveness of our
disclosure controls and procedures as of June 30, 2012 (under the supervision
and with the participation of the Chief Executive Officer and Chief Financial
Officer), pursuant to Rule 13a-15(b) promulgated under the Securities Exchange
Act of 1934, as amended. As part of such evaluation, management considered the
matters discussed below relating to internal control over financial reporting.
Based on this evaluation, our Companys Chief Executive Officer and Chief
Financial Officer have concluded that our Companys disclosure controls and
procedures were not effective as of June 30, 2012.

Changes in Internal Control over Financial Reporting

The term internal control over financial reporting is defined
as a process designed by, or under the supervision of, the registrants
principal executive and principal financial officers, or persons performing
similar functions, and effected by the registrants board of directors,
management and other personnel, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles and includes those policies and procedures that:

- pertain to the maintenance of records that in reasonable detail accurately
  and fairly reflect the transactions and dispositions of the assets of the
  registrant;
- provide reasonable assurance that transactions are recorded as necessary to
  permit preparation of financial statements in accordance with generally
  accepted accounting principles, and that receipts and expenditures of the
  registrant are being made only in accordance with authorizations of management
  and directors of the registrant; and
- provide reasonable assurance regarding prevention or timely detection of
  unauthorized acquisition, use or disposition of the registrants assets that
  could have a material effect on the financial statements.

A material weakness is defined in Public Company Accounting
Oversight Board Auditing Standard No. 5 as a significant deficiency, or a
combination of significant deficiencies, in internal control over financial
reporting that results in there being more than a remote likelihood that a
material misstatement of the annual or interim financial statements will not be
prevented or detected.

There have not been any changes in our internal control over
financial reporting that occurred during our fiscal quarter ended June 30, 2012
that have materially affected, or are likely to materially affect, our internal
control over financial reporting.

7

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are not a party to any pending legal proceeding. We are not
aware of any pending legal proceeding to which any of our officers, directors,
affiliates or any beneficial holders of 5% or more of our voting securities are
adverse to us or have a material interest adverse to us.

ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of
the Exchange Act and are not required to provide the information required under
this item.

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

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

Not applicable.

ITEM 6. EXHIBITS

|Exhibit |                                                                                                                                                                     
|------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Number  | Description of Exhibit                                                                                                                                              
|31.1    | Certification
        of Chief Executive Officer Pursuant to Rule 13a-14(a) or 15d-14(a) of
        the Securities Exchange Act                                     
|31.2    | Certification
        of the Chief Financial Officer Pursuant to Rule 13a-14(a) or 15d-14(a)
        of the Securities Exchange Act                                 
|32.1    | Certification
        of Chief Executive Officer and Chief Financial officer Under Section 1350
        as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act

8

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

ADVANCED VENTURES CORP.

By:   /s/ Christino
RioChristino Rio, CEO and Director (Principal Executive Officer)
Date: August 20, 2012

By:   /s/ Benson
LimBenson Lim, CFO and Director (Principal Financial Officer and
Principal Accounting Officer) Date: August 20, 2012

9

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