UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

[X] Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934

    For the period ended October 31, 2006

[ ] Transition Report pursuant to 13 or 15(d) of the Securities Exchange
    Act of 1934

    For the transition period _____________ to _____________

                        Commission File Number 333-128697


                               CANTOP VENTURES, INC
                 (Name of small business issuer in its charter)

            NEVADA                                               20-2414965
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)

                                 564 Wedge Lane
                                Fernley, NV 89408
                    (Address of principal executive offices)

                    Issuer's telephone Number: (604) 805-6340


                                 WITH COPIES TO:

                             Karen A. Batcher, Esq.
                          Batcher Zarcone & Baker, LLP
                           4252 Bonita Road, Suite 151
                                Bonita, CA 91902
                               Tel: (619) 475-7882
                               Fax: (619) 789-6262

                                      None
              (Former name, former address and former fiscal year,
                         if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check whether the registrant is a shell company (as defined in rule
12b 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: As of November 30, 2006, the issuer
had 8,500,000 outstanding shares of Common Stock.
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

CANTOP VENTURES, INC.
(An Exploration Stage Company)
Balance Sheets
(Expressed in US Dollars)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                          October 31,         July 31,
                                                                             2006               2006
                                                                           --------           --------
                                                                          (Unaudited)         (Audited)
<S>                                                                        <C>                <C>
                                     ASSETS
CURRENT ASSETS
  Cash                                                                     $  2,696           $  8,125
                                                                           --------           --------
TOTAL CURRENT ASSETS                                                          2,696              8,125

Mining property acquisition costs, less reserve for
 impairment of $3,500 and $3,500, respectively                                   --                 --
                                                                           --------           --------

TOTAL ASSETS                                                               $  2,696           $  8,125
                                                                           ========           ========

                LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)

CURRENT LIABILITIES
  Accounts payable and accrued liabilities                                 $     --           $  5,000
  Due to related party (note7)                                                  700                700
                                                                           --------           --------
TOTAL CURRENT LIABILITIES                                                       700              5,700
                                                                           --------           --------
STOCKHOLDERS' EQUITY (DEFICIENCY)
  Preferred stock, $0.001 par value;
   authorized 20,000,000 shares, issued and outstanding
   0 and 0 shares, respectively                                                  --                 --
  Common stock, $0.001 par value; authorized 100,000,000 shares,
   issued and outstanding 8,500,000 and 8,500,000 shares, respectively        8,500              8,500
  Additional paid-in capital                                                 37,500             35,400
  Deficit accumulated during the exploration stage                          (44,004)           (41,475)
                                                                           --------           --------
TOTAL STOCKHOLDERS' EQUITY (DEFICIENCY)                                       1,996              2,425
                                                                           --------           --------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)                    $  2,696           $  8,125
                                                                           ========           ========
</TABLE>

See notes to financial statements.

                                       1
<PAGE>
CANTOP VENTURES, INC.
(An Exploration Stage Company)
Statements of Operations
(Expressed in US Dollars)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                         Cumulative
                                                         during the
                                                         development
                                                            stage
                                                         February 22,
                                                            2005 to          Three months ended October 31,
                                                          October 31,       ---------------------------------
                                                            2006               2006                  2005
                                                         -----------        -----------           -----------
                                                         (Unaudited)        (Unaudited)           (Unaudited)
<S>                                                      <C>                <C>                   <C>
REVENUE                                                  $        --        $        --           $        --
                                                         -----------        -----------           -----------
COST AND EXPENSES
   Mining property exploration costs                           9,500                 --                    --
   Impairment of mining property acquisition costs             3,500                 --                    --
   General and administrative expenses                        31,004              2,529                 4,053
                                                         -----------        -----------           -----------
Total Costs and Expenses                                      44,004              2,529                 4,053
                                                         -----------        -----------           -----------

NET LOSS                                                 $   (44,004)       $    (2,529)          $    (4,053)
                                                         ===========        ===========           ===========
NET LOSS PER SHARE
   Basic and diluted                                                        $     (0.00)          $     (0.00)
                                                                            ===========           ===========
NUMBER OF COMMON SHARES USED TO COMPUTE LOSS PER SHARE
   Basic and Diluted                                                          8,500,000             8,500,000
                                                                            ===========           ===========
</TABLE>


See notes to financial statements.

                                       2
<PAGE>
CANTOP VENTURES, INC.
(An Exploration Stage Company)
Statements of Stockholders' Equity (Deficiency)
for the period February 22, 2005 (Inception) to October 31, 2006
(Expressed in US Dollars)
(Unaudited)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                                   Deficit
                                           Common Stock, $0.001                     Common       Accumulated      Total
                                                Par Value          Additional       Stock        During the    Stockholders'
                                         ---------------------      Paid-in      Subscription    Development      Equity
                                         Shares         Amount      Capital         Unpaid          Stage      (Deficiency)
                                         ------         ------      -------         ------          -----      ------------
<S>                                      <C>           <C>           <C>            <C>           <C>             <C>
Common stock issued for cash
  -  March, 2005 at $0.001              2,000,000     $  2,000      $    --        $     --      $      --       $  2,000
  -  June, 2005 at $0.001               3,500,000        3,500           --          (3,500)            --             --
  -  July, 2005 at $0.001                 500,000          500           --              --             --            500
  -  July, 2005 at $0.01                2,500,000        2,500       22,500              --             --         25,000
Donated services                                                      4,500                                         4,500
Net loss for the period February 22,
 2005 (inception) to July 31, 2005                                                                 (14,308)       (14,308)
                                       ----------     --------      -------        --------      ---------       --------
Balance, July 31, 2005                  8,500,000        8,500       27,000          (3,500)       (14,308)        17,692
Common stock subscriptions paid                                                       3,500                         3,500
Donated services                                                      8,400                                         8,400
Net loss for the year ended
 July 31, 2006                                 --           --           --                        (27,167)       (27,167)
                                       ----------     --------      -------        --------      ---------       --------
Balance, July 31, 2006                  8,500,000     $  8,500      $35,400        $     --      $ (41,475)      $  2,425
Donated services                                                      2,100                                         2,100
Net loss for the three months
 ended October 31, 2006                                                                             (2,529)        (2,529)
                                       ----------     --------      -------        --------      ---------       --------

Balance, October 31, 2006               8,500,000     $  8,500      $37,500        $     --      $ (44,004)      $  1,996
                                       ==========     ========      =======        ========      =========       ========
</TABLE>

See notes to financial statements.

                                       3
<PAGE>
CANTOP VENTURES, INC.
(An Exploration Stage Company)
Statements of Cash Flows
(Expressed in US Dollars)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                        Cumulative
                                                        during the
                                                        development
                                                           stage
                                                        February 22,
                                                           2005 to         Three months ended October 31,
                                                         October 31,       ------------------------------
                                                           2006               2006               2005
                                                         --------           --------           --------
                                                        (Unaudited)        (Unaudited)        (Unaudited)
<S>                                                     <C>                <C>                   <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss                                               $(44,004)          $ (2,529)          $ (4,053)
  Adjustments to reconcile net loss to net cash
   used for operating activities:
     Impairment of mining property acquisition costs        3,500                 --                 --
     Management services donated                           12,000              1,500              2,100
     Office rent donated                                    3,000                600                 --
  Changes in operating assets and liabilities
     Accounts payable and accrued liabilities                  --             (5,000)            (2,342)
     Due to related party                                     700                 --
                                                         --------           --------           --------
NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES      (24,804)            (5,429)            (4,295)
                                                         --------           --------           --------
CASH FLOWS FROM INVESTING ACTIVITIES
  Acquisition of mining property                           (3,500)                --                 --
                                                         --------           --------           --------
NET CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES       (3,500)                --                 --
                                                         --------           --------           --------
CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from sales of common stock                      31,000                 --              3,500
                                                         --------           --------           --------
NET CASH PROVIDED BY (USED FOR) FINANCIAL ACTIVITIES       31,000                 --              3,500
                                                         --------           --------           --------

INCREASE (DECREASE) IN CASH                                 2,696             (5,429)              (795)
CASH, BEGINNING OF PERIOD                                      --              8,125             22,034
                                                         --------           --------           --------

CASH, END OF PERIOD                                      $  2,696           $  2,696           $ 21,239
                                                         ========           ========           ========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
  Interest paid                                          $     --           $     --           $     --
                                                         ========           ========           ========
  Income taxes paid                                      $     --           $     --           $     --
                                                         ========           ========           ========
</TABLE>

See notes to financial statements.

                                       4
<PAGE>
CANTOP VENTURES, INC.
(An Exploration Stage Company)
NOTES TO FINANCIAL STATEMENTS
October 31, 2006
(Unaudited)
--------------------------------------------------------------------------------

Note 1 INTERIM FINANCIAL STATEMENTS

     The unaudited financial statements as of October 31, 2006 and for the three
     months  ended  October 31, 2006 and 2005,  and for the period  February 22,
     2005 to October 31, 2006 have been prepared in accordance  with  accounting
     principles  generally  accepted in the United States for interim  financial
     information  and  with  instructions  to Form  10-QSB.  In the  opinion  of
     management,  the unaudited  financial  statements have been prepared on the
     same basis as the annual financial  statements and reflect all adjustments,
     which  include  only normal  recurring  adjustments,  necessary  to present
     fairly the  financial  position  as of October  31, 2006 and the results of
     operations  and cash flows for the periods ended October 31, 2006 and 2005.
     The financial  data and other  information  disclosed in these notes to the
     interim financial  statements  related to these periods are unaudited.  The
     results  for  the  three  month  period  ended  October  31,  2006  is  not
     necessarily  indicative  of the results to be expected  for any  subsequent
     quarter of the entire year ending July 31, 2007.  The balance sheet at July
     31, 2006 has been derived  from the audited  financial  statements  at that
     date.

     Certain information and footnote disclosures normally included in financial
     statements  prepared in accordance  with  accounting  principles  generally
     accepted in the United  States have been  condensed or omitted  pursuant to
     the  Securities  and Exchange  Commission's  rules and  regulations.  These
     unaudited  financial  statements  should  be read in  conjunction  with our
     audited financial  statements and notes thereto for the year ended July 31,
     2006 as included in our report on Form 10-KSB.

Note 2 ORGANIZATION AND BUSINESS OPERATIONS

     Cantop  Ventures,  Inc. (the  "Company") was  incorporated  in the State of
     Nevada on February 22, 2005. The Company is an Exploration Stage Company as
     defined by Statement of Financial  Accounting Standards ("SFAS") No. 7. The
     Company has acquired a mineral  property located in the Province of British
     Columbia, Canada, and has not yet determined whether this property contains
     reserves that are economically  recoverable.  The recoverability of amounts
     from the property  will be  dependent  upon the  discovery of  economically
     recoverable  reserves,  confirmation  of  the  Company's  interest  in  the
     underlying  property,  the  ability  of the  Company  to  obtain  necessary
     financing  to  satisfy  the  expenditure  requirements  under the  property
     agreement and to complete the development of the property,  and upon future
     profitable production or proceeds from the sale thereof.

Note 3 MINERAL PROPERTY

     Pursuant to a mineral property purchase  agreement dated March 3, 2005, the
     Company acquired a 100% undivided  right,  title and interest in the Copper

                                       5
<PAGE>
CANTOP VENTURES, INC.
(An Exploration Stage Company)
NOTES TO FINANCIAL STATEMENTS
October 31, 2006
(Unaudited)
--------------------------------------------------------------------------------

     Road I-VI mineral claim,  located  approximately  2 kilometres East of Deep
     Water Bay, Quadra Island of British Columbia, Canada for $3,500. The Tenure
     Number ID is 526652,  which expires  March 3, 2008.  The property is in the
     name of Larry Ralph W. Sostad held by him in trust for the Company.

     In June 2005, the Company received an evaluation  report from a third party
     consulting firm recommending an exploration  program with a total estimated
     cost of  $65,000.  Due to lack of  working  capital,  the  Company  has not
     completed  this program.  At July 31, 2005,  the Company  provided a $3,500
     reserve for impairment of the mining property acquisition costs.

Note 4 DUE TO RELATED PARTY

     The $700 amount due to related  party at October 31, 2006 and July 31, 2006
     is due a director of the Company,  is non-interest  bearing,  and is due on
     demand.

Note 5 COMMON STOCK

     During the period from  February 22, 2005  (Inception)  to October 31, 2006
     the  Company  sold a total  of  8,500,000  shares  of  common  stock  to 40
     individuals and received total cash proceeds of $31,000.  4,000,000  shares
     were sold to company officers and directors at a price of $0.001 per share.
     2,000,000  shares were sold to other  individuals  at a price of $0.001 per
     share,  and 2,500,000  shares were sold to other  individuals at a price of
     $0.01 per share.  On June 30, 2006, the Securities and Exchange  Commission
     declared  effective  the Company's  Registration  Statement on Form SB-2 to
     register the 4,500,000 shares of common stock not owned by Company officers
     and directors.

     At October 31, 2006 there are no outstanding stock options or warrants.

Note 6 INCOME TAXES

     No  provisions  for income taxes have been  recorded  since the Company has
     incurred losses since inception.  Based on management's present assessment,
     the  Company  has not yet  determined  it to be more likely than not that a
     deferred tax asset of $9,861  attributable to the future utilization of the
     net operation loss  carryforward  of $29,004 as of October 31, 2006 will be
     realized.  Accordingly,  the Company has provided a 100% allowance  against
     the  deferred  tax asset in the  financial  statements.  The  Company  will
     continue  to  review  this  valuation  allowance  and make  adjustments  as
     appropriate.  The net operating  loss  carryforward  expires $9,808 in year
     2025, $18,767 in year 2026, and $429 in year 2027.

                                       6
<PAGE>
CANTOP VENTURES, INC.
(An Exploration Stage Company)
NOTES TO FINANCIAL STATEMENTS
October 31, 2006
(Unaudited)
--------------------------------------------------------------------------------

     Current tax laws limit the amount of loss  available  to be offset  against
     future  taxable  income  when a  substantial  change in  ownership  occurs.
     Therefore,  the amount  available to offset  future  taxable  income may be
     limited.

Note 7 RELATED PARTY TRANSACTIONS

     The president of the Company provides  management services and office space
     to the Company at no cost. For the period February 22, 2005  (inception) to
     October 31, 2006, these services were valued at and expensed for a total of
     $15,000 ($4,500 in the period February 22, 2005 to July 31, 2005, $8,400 in
     the year ended July 31, 2006,  and $2,100 in the three months ended October
     31, 2006), with the same amounts added to additional paid-in capital.

                                       7
<PAGE>
FORWARD-LOOKING STATEMENTS

This Form 10-QSB includes "forward-looking statements" within the meaning of the
"safe-harbor" provisions of the Private Securities Litigation Reform Act of
1995. Such statements are based on management's current expectations and are
subject to a number of factors and uncertainties that could cause actual results
to differ materially from those described in the forward-looking statements.

All statements other than historical facts included in this Form, including
without limitation, statements under "Plan of Operation", regarding our
financial position, business strategy, and plans and objectives of management
for the future operations, are forward-looking statements.

Although we believe that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations will
prove to have been correct. Important factors that could cause actual results to
differ materially from our expectations include, but are not limited to, market
conditions, competition and the ability to successfully complete financing.

ITEM 2. PLAN OF OPERATION

OVERVIEW

We were incorporated pursuant to the laws of Nevada on February 22, 2005. During
the year ended October 31, 2006, we were primarily engaged in organizational
activities, the acquisition of the mineral property option and Phase I field
exploration which included showing relocation and geological examination,
trenching and sampling and electromagnetic and magnetometer surveys.

CASH REQUIREMENTS

Our plan of operation for the next twelve months is to complete Phases II - IV,
if appropriate, of our exploration program. Since the decision to commence the
next Phase of exploration is directly related to the outcome of the previous
Phase, we are uncertain of how many Phases we will in fact commence and/or
complete.

It is our intention to commence Phase II on the Copper Road I - VI claim in the
spring of 2007. The cost to complete Phase II is approximately $6,300. The
program should take up to one month to complete. Based on the results of the
additional work program we will then undertake revised recommendations of our
professional consulting geologist for Phases III & IV work programs during the
fall of 2007. Original estimates to complete Phases III and IV are $12,600 and
$29,400 respectively and these two programs will take approximately two months
to complete. Although we have no current estimate of these revised phases of
exploration we will need to incur a total of $600 before January 30, 2007 in
order to maintain ownership of our property claims.

                                       8
<PAGE>
In addition to the exploration program costs, we estimate we will incur $5,000
in administrative costs for the year following the date of this annual report.

Total expenditures related to Phase I of our exploration program and costs of
administration over the next 12 months are therefore expected to be
approximately $11,300.

SOURCES AND USES OF CASH

At October 31, 2006, our current assets consisted of $2,696 in cash. We will
require additional funding in order to cover administrative costs and the costs
of the Phase II and III exploration programs on the Copper Road I - VI claim. We
anticipate that additional funding will be in the form of equity financing from
the sale of our common stock or from director loans. We do not have any
arrangements in place for any future equity financing or loans.

RESULTS OF OPERATIONS

We did not earn any revenues during the three-month period ended October 31,
2006. We incurred operating expenses in the amount of $2,529 for the period
consisting entirely of general and administrative costs.

We have not attained profitable operations and are dependent upon obtaining
financing to pursue activities. For these reasons, there is substantial doubt
that we will be able to continue as a going concern.

ITEM 3. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS

We evaluated the effectiveness of our disclosure controls and procedures as of
October 31, 2006. This evaluation was conducted by Christopher Paterson, our
chief executive officer and principal accounting officer.

Disclosure controls are controls and other procedures that are designed to
ensure that information that we are required to disclose in the reports we file
pursuant to the Securities Exchange Act of 1934 is recorded, processed,
summarized and reported.

LIMITATIONS ON THE EFFECTIVE OF CONTROLS

Our management does not expect that our disclosure controls or our internal
controls over financial reporting will prevent all error and fraud. A control
system, no matter how well conceived and operated, can provide only reasonable,
but no absolute, assurance that the objectives of a control system are met.
Further, any control system reflects limitations on resources, and the benefits
of a control system must be considered relative to its costs. These limitations

                                       9
<PAGE>
also include the realities that judgments in decision-making can be faulty and
that breakdowns can occur because of simple error or mistake. Additionally,
controls can be circumvented by the individual acts of some persons, by
collusion of two or more people or by management override of a control. A design
of a control system is also based upon certain assumptions about potential
future conditions; over time, controls may become inadequate because of changes
in conditions, or the degree of compliance with the policies or procedures may
deteriorate. Because of the inherent limitations in a cost-effective control
system, misstatements due to error or fraud may occur and may not be detected.

CONCLUSIONS

Based upon evaluation of our controls, Christopher Paterson, our chief executive
officer and principal accounting officer, has concluded that, subject to the
limitations noted above, the disclosure controls are effective providing
reasonable assurance that material information relating to us is made known to
management on a timely basis during the period when our reports are being
prepared. There were no changes in our internal controls that occurred during
the quarter covered by this report that have materially affected, or are
reasonably likely to materially affect our internal controls.

                          PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

The Company is not a party to any pending legal proceeding. Management is not
aware of any threatened litigation, claims or assessments.

ITEM 2. CHANGES IN SECURITIES

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

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

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS AND REPORT ON FORM 8-K

31.1    Certification pursuant to Rule 13a-14(a) under the Securities Exchange
        Act of 1934

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

We filed one current report on Form 8-K during the period. This Form 8-K was
filed September 15, 2006 and relates to our change in accountants.

                                       10
<PAGE>
                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

November 30, 2006

Cantop Ventures, Inc.


/s/ Christopher Paterson
---------------------------------------
Christopher Paterson
President, Principal accounting officer
and principal financial officer

                                       11