---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, DC 20549

FORM 10-QSB

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

For the quarterly period ended April 30, 2007

[ ]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGEACT OF 1934

For the transition period from ______________________To
______________________

Commission file number 333-141817

TECTON CORPORATION(Exact name of registrant as specified in its charter)

|Nevada                                           | N/A                                 
|------------------------------------------------ | ------------------------------------
|(State or other jurisdiction of incorporation or | (I.R.S. Employer Identification No.)
|organization)                                    |                                     

Bettlistrasse 358600 Dübendorf, Switzerland(Address of principal executive offices)

(702) 387 2382(Registrants
telephone number, including area code)

______________________________________________________(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 require to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. [ x ]
Yes [ ] No

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

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:

Check whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the distribution of securities under a plan confirmed by a
court. [ ] Yes [ ] No

APPLICABLE ONLY TO CORPORATE ISSUERS

As of June 7, 2007, the registrants outstanding common stock
consisted of 73,389,610shares.

---

PART I  FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

The unaudited interim consolidated financial statements of
Tecton Corporation (the Company, Tecton, we, our, us) follow. All
currency references in this report are in US dollars unless otherwise noted.

Tecton CorporationApril 30, 2007 (unaudited)

|SECURITIES AND EXCHANGE COMMISSION  
|------------------------------------
|WASHINGTON, D.C. 20549              
|                                    
|                                    
|FINANCIAL STATEMENTS                
|                                    
|                                    
|TECTON CORPORATION                  
|(An exploration
      stage company)
|                                    

1

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TECTON CORPORATION(An exploration stage company)

FINANCIAL STATEMENTS

APRIL 30, 2007

F-1

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|                              
|                              
|Index to Financial Statements 

|                                                                                                                                                         | Page            
|-------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------
|                                                                                                                                                         |                 
|Balance
        Sheet at April 30, 2007                                                                                                                  | F-3             
|                                                                                                                                                         |                 
|Statements
        of Losses for the three months ended April 30, 2007 and for the period
        January 19, 2006 (date of Inception) to April 30, 2007 | F-4             
|                                                                                                                                                         |                 
|Statements
        of Stockholders' Deficiency for the period January 19, 2006 (date of Inception)
        to April 30, 2007                             | F-5 
      F-6 
|                                                                                                                                                         |                 
|Statements
        of Cash Flows for the year ended January 31, 2007 and for the period January
        19, 2006 (date of Inception) to April 30, 2007   | F-7             
|                                                                                                                                                         |                 
|                                                                                                                                                         |                 
|Notes
        to Financial Statements                                                                                                                    | F-8 
      F-12

F-2

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|BALANCE SHEET                 
|APRIL 30, 2007                
|(Stated in US dollars)        
|(Unaudited)                   

|ASSETS:                                                                                   |   |            |  
|----------------------------------------------------------------------------------------- | - | ---------- | -
|Cash                                                                                      | $ | 1,253,015  |  
|Prepaid expenses                                                                          |   | 107,808    |  
|Accounts receivable                                                                       |   | 2,030      |  
|Other receivable, related party ( Note E )                                                |   | 120,000    |  
|                                                                                          |   | 1,482,853  |  
|Automobile (Note D )                                                                      |   | 31,167     |  
|                                                                                          |   |            |  
|                                                                                          |   |            |  
|Total assets                                                                              | $ | 1,514,020  |  
|                                                                                          |   |            |  
|LIABILITIES AND STOCKHOLDERS' EQUITY                                                      |   |            |  
|Bank overdraft                                                                            | $ | -          |  
|Accounts payable and accrued expenses                                                     |   | 85,623     |  
|Advances from related parties (Note E)                                                    |   | 3,600      |  
|Total current liabilities                                                                 |   | 89,223     |  
|                                                                                          |   |            |  
|Commitments and contingencies (Note F)                                                    |   | -          |  
|                                                                                          |   |            |  
|Stockholders' equity(deficiency):                                                         |   |            |  
|                                                                                          |   |            |  
|Preferred stock 20,000,000 shares; par value $.0001 per
      share; no shares issued or  |   |            |  
|outstanding                                                                               |   |            |  
|Common stock, 80,000,000 shares authorized; par value $
      .0001 per share; 72,879,610 |   |            |  
|shares issued and outstanding                                                             |   | 7,288      |  
|Common stock issuable; 785,000 shares                                                     |   | 79         |  
|Additional paid-in capital                                                                |   | 2,577,210  |  
|Deficit accumulated during exploration stage                                              |   | (1,159,780 | )
|Total stockholders' equity                                                                |   | 1,424,797  |  
|Total liabilities and stockholders' equity                                                | $ | 1,514,020  |  

See accompanying notes to financial statements

F-3

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|STATEMENTS OF LOSSES          
|(Stated in US dollars)        
|(Unaudited)                   

|                                                      |   |                      |   |   |                      |  |   | For the period from   |  
|----------------------------------------------------- | - | -------------------- | - | - | -------------------- |  | - | --------------------- | -
|                                                      |   |                      |   |   |                      |  |   | January 19,2006(date  |  
|                                                      |   | For the three months |   |   | For the three months |  |   | of Inception) through |  
|                                                      |   | ended April 30, 2007 |   |   | ended April 30, 2006 |  |   | April 30, 2007        |  
|Costs and Expenses:                                   |   |                      |   |   |                      |  |   |                       |  
|General and Administrative                            | $ | 238,533              |   | $ | -                    |  | $ | 361,043               |  
|Mineral property and exploration costs
      (Note C) |   | 795,470              |   |   | -                    |  |   | 798,737               |  
|Total Operating Expenses                              |   | 1,034,003            |   |   | -                    |  |   | 1,159,780             |  
|Net Loss                                              | $ | (1,034,003           | ) | $ | -                    |  | $ | (1,159,780            | )
|                                                      |   |                      |   |   |                      |  |   |                       |  
|Loss per common share (basic and fully
      diluted) |   |                      |   |   |                      |  |   |                       |  
|(Note A)                                              | $ | (0.01                | ) | $ | -                    |  |   |                       |  
|                                                      |   |                      |   |   |                      |  |   |                       |  
|Weighted average common shares outstanding            |   | 69,677,138           |   |   | -                    |  |   |                       |  

See accompanying notes to financial statements

F-4

---

|TECTON CORPORATION                                                              
|--------------------------------------------------------------------------------
|(An exploration stage company)                                                  
|STATEMENTS OF STOCKHOLDERS' DEFICIENCY                                          
|FOR THE PERIOD JANUARY 19, 2006 (DATE OF INCEPTION)
      THROUGH APRIL 30, 2007
|(Stated in US dollars)                                                          
|(Unaudited)                                                                     

|                     |  |              |   |   |                |   |  | Common  |  |   |        |  |   |            |  |   |              |   |   |             |  
|-------------------- |  | ------------ | - | - | -------------- | - |  | ------- |  | - | ------ |  | - | ---------- |  | - | ------------ | - | - | ----------- | -
|                     |  | Common Stock |   |   | Stock Issuable |   |  |         |  |   |        |  |   |            |  |   |              |  
|                     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   | Deficit     |  
|                     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   | Accumulated |  
|                     |  |              |   |   |                |   |  |         |  |   |        |  |   | Additional |  |   | Common       |   |   | During      |  
|                     |  |              |   |   |                |   |  |         |  |   |        |  |   | Paid-in    |  |   | Stock        |   |   | Exploration |  
|                     |  | Shares       |   |   | Amount         |   |  | Shares  |  |   | Amount |  |   | Capital    |  |   | Subscription |   |   | Stage       |  
|Issuance of          |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|common stock at      |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|inception, January   |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|2006                 |  | 1,000,000    |   | $ | 100            |   |  | -       |  |   | -      |  |   | -          |  |   | -            |   |   | -           |  
|Shares Cancelled     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|December 2006        |  | (1,000,000   | ) |   | (100           | ) |  | -       |  |   | -      |  |   | -          |  |   | -            |   |   | -           |  
|Issuance of          |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|common stock to      |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|investors pursuant   |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|to dividend paid in  |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|December 01, 2006    |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|at $0.0001 per       |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|share                |  | 198,010      |   |   | 20             |   |  | -       |  |   | -      |  |   | -          |  |   | -            |   |   | -           |  
|Issuance of          |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|common stock for     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|cash in December     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|02, 2006 at $0.0001  |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|per share            |  | 49,000,000   |   |   | 4,900          |   |  | -       |  |   | -      |  |   | -          |  |   | -            |   |   | -           |  
|Issuance of          |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|common stock for     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|cash in December     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|10, 2006 at $0.001   |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|per share            |  | 5,220,000    |   |   | 522            |   |  | -       |  |   | -      |  |   | 4,698      |  |   | -            |   |   | -           |  
|Issuance of          |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|common stock for     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|cash in December     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|18, 2006 at $0.01    |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|per share            |  | 2,520,000    |   |   | 252            |   |  | -       |  |   | -      |  |   | 24,948     |  |   | -            |   |   | -           |  
|Common stock         |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|issuable for cash in |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|December 2006 at     |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|$.10 per share       |  | -            |   |   | -              |   |  | 4,000   |  |   | -      |  |   | 400        |  |   | -            |   |   | -           |  
|Common stock         |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|issuable for cash in |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|January 2007 at      |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|$.10 per share       |  | -            |   |   | -              |   |  | 100,000 |  |   | 10     |  |   | 9,990      |  |   | -            |   |   | -           |  
|Common stock         |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|subscription         |  | -            |   |   | -              |   |  | -       |  |   | -      |  |   | -          |  |   | (20,000      | ) |   | -           |  
|                     |  |              |   |   |                |   |  | -       |  |   | -      |  |   |            |  |   |              |   |   |             |  
|Net Loss             |  | -            |   |   | -              |   |  |         |  |   |        |  |   | -          |  |   | -            |   |   | (125,777    | )
|Balance at           |  |              |   |   |                |   |  |         |  |   |        |  |   |            |  |   |              |   |   |             |  
|January 31, 2007     |  | 56,938,010   |   | $ | 5,694          |   |  | 104,000 |  | $ | 10     |  | $ | 40,036     |  | $ | (20,000      | ) | $ | (125,777    | )

See accompanying notes to financial statements

F-5

---

|TECTON CORPORATION                                                              
|--------------------------------------------------------------------------------
|(An exploration stage company)                                                  
|STATEMENTS OF STOCKHOLDERS' DEFICIENCY                                          
|FOR THE PERIOD JANUARY 19, 2006 (DATE OF INCEPTION)
      THROUGH APRIL 30, 2007
|(Stated in US dollars)                                                          
|(Unaudited) (Continued)                                                         

|                      |              |                | Common    |            |                   |              |             
|--------------------- | ------------ | -------------- | --------- | ---------- | ----------------- | ------------ | ------------
|                      | Common Stock | Stock Issuable |           |            |                   |             
|                      |              |                |           |            |                   |              | Deficit     
|                      |              |                |           |            |                   |              | Accumulated 
|                      |              |                |           |            | Additional        | Common       | During      
|                      |              |                |           |            | Paid-in           | Stock        | Exploration 
|                      | Shares       | Amount         | Shares    | Amount     | Capital           | Subscription | Stage       
|Common stock          |              |                |           |            |                   |              |             
|issued February       |              |                |           |            |                   |              |             
|02,2007               | 104,000      | 10             | (104,000) | ( 10 )     |                   | -            | -           
|Subscriptions         |              |                |           |            |                   |              |             
|Received February     |              |                |           |            |                   |              |             
|02,2007               | -            | -              | -         | -          | -                 | 20,000       | -           
|Issuance of common    |              |                |           |            |                   |              |             
|stock for private     |              |                |           |            |                   |              |             
|placement in          |              |                |           |            |                   |              |             
|February 01,2007 at   |              |                |           |            |                   |              |             
|$.10 per share net of |              |                |           |            |                   |              |             
|finders fee          | 5,500,000    | 550            | -         | -          | 494,450           | -            | -           
|                      |              |                |           |            |                   |              |             
|Issuance of common    |              |                |           |            |                   |              |             
|stock in exchange for |              |                |           |            |                   |              |             
|consulting service    |              |                |           |            |                   |              |             
|and prepaid           |              |                |           |            |                   |              |             
|consulting service on |              |                |           |            |                   |              |             
|February 05,2007      | 1,000,000    | 100            | -         | -          | 99,900            | -            | -           
|Issuance of common    |              |                |           |            |                   |              |             
|stock for mineral     |              |                |           |            |                   |              |             
|property and          |              |                |           |            |                   |              |             
|exploration costs in  |              |                |           |            |                   |              |             
|February 09, 2007 at  |              |                |           |            |                   |              |             
|$.10 per share        | 3,000,000    | 300            | -         | -          | 299,700           | -            | -           
|Issuance of common    |              |                |           |            |                   |              |             
|stock for cash in     |              |                |           |            |                   |              |             
|February 16,2007 at   |              |                |           |            |                   |              |             
|$.25 per share net of |              |                |           |            |                   |              |             
|cost and fees         | 580,000      | 58             | -         | -          | 131,442           | -            | -           
|Issuance of common    |              |                |           |            |                   |              |             
|stock for cash in     |              |                |           |            |                   |              |             
|March 12,2007 at      |              |                |           |            |                   |              |             
|$.25 per share net of |              |                |           |            |                   |              |             
|cost and fees         | 4,424,000    | 442            | -         | -          | 1,025,758         | -            | -           
|Issuance of common    |              |                |           |            |                   |              |             
|stock for cash in     |              |                |           |            |                   |              |             
|March 27,2007 at      |              |                |           |            |                   |              |             
|$.25 per share net of |              |                |           |            |                   |              |             
|cost and fees         | 488,000      | 49             | -         | -          | 105,276           | -            | -           
|Issuance of common    |              |                |           |            |                   |              |             
|stock for cash in     |              |                |           |            |                   |              |             
|April 12,2007 at $.25 |              |                |           |            |                   |              |             
|per share net of cost |              |                |           |            |                   |              |             
|and fees              | 490,600      | 49             | -         | -          | 110,995           | -            | -           
|Issuance of common    |              |                |           |            |                   |              |             
|stock for cash in     |              |                |           |            |                   |              |             
|February & April      |              |                |           |            |                   |              |             
|2007 at $.25 per      |              |                |           |            |                   |              |             
|share net of cost and |              |                |           |            |                   |              |             
|fees                  | 355,000      | 36             | -         | -          | 82,106            | -            | -           
|Common stock          |              |                |           |            |                   |              |             
|issuable for cash in  |              |                |           |            |                   |              |             
|April 2007 at $.25    |              |                |           |            |                   |              |             
|per share net of cost |              |                |           |            |                   |              |             
|and fees              | -            | -              | 385,000   | 39         | 87,587            | -            | -           
|Common stock          |              |                |           |            |                   |              |             
|issuable for cash in  |              |                |           |            |                   |              |             
|April 2007 at $.25    |              |                |           |            |                   |              |             
|per share             | -            | -              | 400,000   | 40         | 99,960            | -            | -           
|                      |              |                |           |            |                   |              |             
|Net Loss              | -            | -              | -         | -          | -                 | -            | (1,034,003) 
|Balance at April 30,  |              |                |           |            |                   |              |             
|2007                  | 72,879,610   | $
      7,288  | 785,000   | $
      79 | $
      2,577,210 | $
      -    | $(1,159,780)

See accompanying notes to financial statements

F-6

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|STATEMENTS OF CASH FLOWS      
|(Stated in US dollars)        
|(Unaudited)                   

|                                                        |   |                      |   |   |                      |  |   | For the period from |  
|------------------------------------------------------- | - | -------------------- | - | - | -------------------- |  | - | ------------------- | -
|                                                        |   |                      |   |   |                      |  |   | January 19, 2006    |  
|                                                        |   |                      |   |   |                      |  |   | (date of Inception) |  
|                                                        |   | For the three months |   |   | For the three months |  |   | through April 30,   |  
|                                                        |   | ended April 30, 2007 |   |   | ended April 30, 2006 |  |   | 2007                |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|CASH FLOWS FROM OPERATING ACTIVITIES:                   |   |                      |   |   |                      |  |   |                     |  
|Net loss                                                | $ | (1,034,003           | ) | $ | -                    |  | $ | (1,159,780          | )
|Common stock issued in exchange for
      services      |   | 100,000              |   |   | -                    |  |   | 100,000             |  
|Common stock issued in exchange for mineral             |   |                      |   |   |                      |  |   |                     |  
|property and exploration costs                          |   | 300,000              |   |   | -                    |  |   | 300,000             |  
|Adjustments to reconcile net loss to net cash used in   |   |                      |   |   |                      |  |   |                     |  
|operating activities:                                   |   |                      |   |   |                      |  |   |                     |  
|Changes in assets and liabilities:                      |   |                      |   |   |                      |  |   |                     |  
|Bank overdraft                                          |   | (2,345               | ) |   | -                    |  |   | -                   |  
|Accounts receivable                                     |   | (2,030               | ) |   | -                    |  |   | (2,030              | )
|Other receivable, related party                         |   | (120,000             | ) |   | -                    |  |   | (120,000            | )
|Prepaid expense                                         |   | (20,000              | ) |   | -                    |  |   | (20,000             | )
|                                                        |   |                      |   |   |                      |  |   |                     |  
|Accounts payable and accrued expenses                   |   | (8,467               | ) |   | -                    |  |   | 85,625              |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|NET CASH (USED IN) OPERATING ACTIVITIES                 |   | (786,845             | ) |   | -                    |  |   | (816,185            | )
|                                                        |   |                      |   |   |                      |  |   |                     |  
|CASH FLOWS FROM INVESTING ACTIVITIES:                   |   |                      |   |   |                      |  |   |                     |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|Purchase of automobile                                  |   | (31,167              | ) |   | -                    |  |   | (31,167             | )
|                                                        |   |                      |   |   |                      |  |   |                     |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|CASH FLOWS FROM FINANCING ACTIVITIES:                   |   |                      |   |   |                      |  |   |                     |  
|Proceeds from sale of common stock and
      stock      |   |                      |   |   |                      |  |   |                     |  
|subscription, net of costs and fees                     |   | 2,071,027            |   |   | -                    |  |   | 2,096,767           |  
|Advances from related parties (Note E)                  |   | -                    |   |   | -                    |  |   | 3,600               |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|NET CASH PROVIDED BY FINANCING ACTIVITIES               |   | 2,071,027            |   |   | -                    |  |   | 2,100,367           |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|NET CHANGE IN CASH AND CASH BALANCE END                 |   |                      |   |   |                      |  |   |                     |  
|OF PERIOD                                               | $ | 1,253,015            |   | $ | -                    |  | $ | 1,253,015           |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|                                                        |   |                      |   |   |                      |  |   |                     |  
|Supplemental Disclosures of Cash Flow
      Information |   |                      |   |   |                      |  |   |                     |  
|Cash paid during the period for interest                | $ | -                    |   | $ | -                    |  | $ | -                   |  
|Income taxes paid                                       |   | -                    |   |   | -                    |  |   | -                   |  

See accompanying notes to financial statements

F-7

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|NOTES TO FINANCIAL STATEMENTS 
|APRIL 30, 2007                
|(Unaudited)                   

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of the significant accounting policies applied in the
preparation of the accompanying financial statements follows.

Business and Basis of Presentation

Tecton Corporation (the "Company") was incorporated under the
laws of the State of Nevada on January 19, 2006, as a wholly-owned subsidiary of
Hemis Corporation which spun off the Company on December 01, 2006. Since the
Company has not commenced significant operations it is considered an exploration
stage Company, as defined by Statement of Financial Accounting Standards No. 7
("SFAS 7"). As of April 30, 2007, the Company had entered into an agreement to
acquire a mineral claim with unknown reserves. To date the Company has generated
no revenues, has incurred expenses, and has sustained losses. Consequently, its
operations are subject to all risks inherent in the establishment of a new
business enterprise. The Company has been registered as an extraprovincial
company in British Columbia, Canada with an assumed name of Tecton Mineral
Corporation in order to register certain mineral claims in the Company's name.
For the period from inception through April 30, 2007, the Company has
accumulated losses of $1,159,780.

Cash

For purposes of the Statements of Cash Flows, the Company
considers all highly liquid debt instruments purchased with a maturity date of
three months or less to be cash equivalents. Cash at January 31, 2007 consists
of a checking account held at a bank.

Income Taxes

The Company has implemented the provisions on Statement of
Financial Accounting Standards No. 109, "Accounting for Income Taxes" ("SFAS
109"). SFAS 109 requires that income tax accounts be computed using the
liability method. Deferred taxes are determined based upon the estimated future
tax effects of differences between the financial reporting and tax reporting
bases of assets and liabilities given the provisions of currently enacted tax
laws.

Net Earnings (Losses) Per Common Share

The Company computes earnings per share under Financial
Accounting Standard No. 128, "Earnings Per Share" (SFAS 128). Net loss per
common share is computed by dividing net loss by the weighted average number of
shares of common stock and dilutive common stock equivalents outstanding during
the year. Dilutive common stock equivalents consist of shares issuable upon
conversion of convertible preferred shares and the exercise of the Company's
stock options and warrants (calculated using the treasury stock method). During
the period January 19, 2006 (date of inception) to April 30, 2007, the Company
has no potentially dilutive common stock equivalents to consider in the
calculation of the weighted average number of common shares outstanding. Common
stock issuable is considered outstanding as of the original approval date for
purposes of earnings per share computations.

Fair Value of Financial Instruments

The fair value of financial instruments, which include cash,
receivables, accounts payable and accrued expenses and advances from related
parties were estimated to approximate their carrying values due to the immediate
or short-term maturity of these financial instruments. Management is of the
opinion that the Company is not exposed to significant interest, currency or
credit risks arising from financial instruments.

F-8

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|NOTES TO FINANCIAL STATEMENTS 
|APRIL 30, 2007                
|(Unaudited)                   

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Foreign Currency Translation

The Company translates foreign currency financial statements in
accordance with the requirements of Statement of Financial Accounting Standards
No. 52, "Foreign Currency Translation." Assets and liabilities are translated at
current exchange rates in effect at the end the period. Revenues and expenses
are translated at the average rate of exchange throughout the year. Resulting
translation adjustments are recorded as a separate component in stockholder's
equity. Foreign currency transaction gains and losses are included in the
statement of operations.

Mineral Property and Exploration Costs

The Company expenses all costs related to the acquisition,
maintenance and exploration of mineral claims in which it has secured
exploration rights prior to establishment of proven and probable reserves. To
date, the Company has not established the commercial feasibility of its
exploration prospects, therefore, all costs are being expensed. Once proven
reserves are established the Company will capitalize all costs to the extent
that future cash flows from mineral reserves equals or exceeds the costs
deferred. The deferred costs will be amortized over the recoverable reserves
when a property reaches commercial production.

Comprehensive Income (Loss)

The Company adopted Statement of Financial Accounting Standards
No. 130, "Reporting Comprehensive Income." SFAS No. 130 establishes standards
for the reporting and displaying of comprehensive income and its components.
Comprehensive income is defined as the change in equity of a business during a
period from transactions and other events and circumstances from non-owner
sources. It includes all changes in equity during a period except those
resulting from investments by owners and distributions to owners. SFAS No. 130
requires other comprehensive income (loss) to include foreign currency
translation adjustments and unrealized gains and losses on available-for-sale
securities. As of April 30, 2007 the Company has no items that represent
comprehensive loss and, therefore, has not included a schedule of comprehensive
loss in the financial statements.

Stock Based Compensation

The Company accounts for stock based compensation in accordance
with SFAS 123 (R) "Share Based Payment," which requires measurement of
compensation cost for all stock based awards at fair value on date of grant and
recognition of compensation over the service period for awards expected to vest.
The Company intends to determine the fair value of awards using the Black -
Scholes valuation model. As of April 30, 2007, the Company has not issued any
awards that qualify as stock based compensation.

Interim Period Financial Statements

The interim period financial statements have been prepared by
the Company pursuant to the rules and regulations of the U.S. Securities and
Exchange Commission (the "SEC"). Certain information and footnote
disclosure normally included in financial statements prepared in accordance with
accounting principles generally accepted in the United States have been
condensed or omitted pursuant to such SEC rules and regulations. The interim
period financial statements should be read together with the audited financial
statements and accompanying notes included in the Company's audited financial
statements for the year ended January 31, 2007. In the opinion of the Company,
the unaudited financial statements contained herein contain all adjustments
(consisting of a normal recurring nature) necessary to present a fair statement
of the results of the interim periods presented.

Use of Estimates

The preparation of financial statements in conformity with U.S.
generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenue and expenses during the reporting
period. Actual results could differ from those estimates.

F-9

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|NOTES TO FINANCIAL STATEMENTS 
|APRIL 30, 2007                
|(Unaudited)                   

NOTE A  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Segment Information

Statement of Financial Accounting Standards No. 131,
"Disclosures about Segments of an Enterprise and Related Information" ("SFAS
131") establishes standards for reporting information regarding operating
segments in annual financial statements and requires selected information for
those segments to be presented in interim financial reports issued to
stockholders. SFAS 131 also establishes standards for related disclosures about
products and services and geographic areas. Operating segments are identified as
components of an enterprise about which separate discrete financial information
is available for evaluation by the chief operating decision maker, or
decision-making group, in making decisions how to allocate resources and assess
performance. The information disclosed herein materially represents all of the
financial information related to the Company's principal operating segment.

New Accounting Pronouncements

In June 2006, the Financial Accounting Standards Board ("FASB")
issued FASB Interpretation No. 48, Accounting for Uncertainties in Income
Taxes, and ("FIN 48"). FIN 48 clarifies the accounting for uncertainty in
income taxes and prescribes a recognition threshold and measurement attribute
for the financial statement recognition and measurement of a tax position taken
or expected to be taken in a tax return. FIN 48 is effective for fiscal years
beginning after December 15, 2006. The Company has not yet determined the impact
of applying FIN 48.

In September 2006, the FASB issued Statement of Financial
Accounting Standards No. 157, Fair Value Measurements("FAS 157"). FAS
157 defines fair value, establishes a framework for measuring fair value and
expands disclosures about fair value measurements but does not require any new
fair value measurements. FAS 157 is effective for financial statements issued
for fiscal years beginning after November 15, 2007, and interim periods within
those fiscal years. The Company has not yet determined the impact of applying
FAS 157.

In February 2007, the FASB issued Statement of Financial
Accounting Standards No. 159, The Fair Value Option for Financial Assets and
Financial Liabilities, ("FAS 159"). FAS 159 permits entities to choose to
measure many financial instruments and certain other items at fair value. The
objective is to improve financial reporting by providing entities with the
opportunity to mitigate volatility in reported earnings caused by measuring
related assets and liabilities differently without having to apply complex hedge
accounting provisions. FAS 159 is effective for financial statements issued for
fiscal years beginning after November 15, 2007. The Company has not yet
determined the impact of adopting FAS 159 on the Company's financial
position.

NOTE B  GOING CONCERN MATTERS

The accompanying financial statements have been prepared on a
going concern basis, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business. As shown in the
accompanying financial statements for the period January 19, 2006 (date of
inception) to April 30, 2007, the Company incurred losses of $1,159,780. The
Company's current assets exceeded its current liabilities by $1,305,820 as of
April 30, 2007. These factors, among others, may indicate that the Company will
be unable to continue as a going concern for a reasonable period of time.

The Company's existence is dependent upon management's ability
to develop profitable operations and resolve its liquidity problems. The
accompanying financial statements do not include any adjustments that might
result should the Company be unable to continue as a going concern.

In order to improve the Company's liquidity, the Company is
actively pursuing additional equity financing through discussions with
investment bankers and private investors. There can be no assurance the Company
will be successful in its effort to secure additional equity financing.

If operations and cash flows continue to improve through these
efforts, management believes that the Company can continue to operate. However,
no assurance can be given that management's actions will result in profitable
operations or the resolution of its liquidity problems.

F-10

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|NOTES TO FINANCIAL STATEMENTS 
|APRIL 30, 2007                
|(Unaudited)                   

NOTE C  MINERAL PROPERTY AND EXPLORATION COSTS

On December 20, 2006 the Company acquired a 100% interest in
the Mineral Tenure (Ace of Spades mineral claim) located in the Nanaimo Mining
Division of British Columbia for cash of $3,267(CDN $3,675) which is included in
mineral property and exploration costs in the statement of operations.

On January 22, 2007, as amended on January 31, 2007, the
Company entered into the Wapata Lake Uranium Option Agreement, whereby the
Company acquired an option to purchase a 100% interest in 49 mineral
dispositions located in Saskatchewan, Canada for cash of $848,032(CDN
$1,000,000) of which $126,874 (CDN $150,000) is due on or before February 05,
2007, CDN $350,000 to be paid on or before February 23, 2007 and CDN $500,000 to
be paid on or before the Option expiry date. To date the Company has paid the
$150,000 and the $350,000 CDN. The Company also agreed to issue 3,000,000 common
shares on or before February 12, 2007 (these shares were issued on February 9,
2007) and to pay a 3% net smelter return.

NOTE D  AUTOMOBILE

|           |   |        |  |   | Accumulated  |  |   | Net Carrying | 
|---------- | - | ------ |  | - | ------------ |  | - | ------------ | 
|           |   | Cost   |  |   | Amortization |  |   | Value        | 
|           |   |        |  |   |              |  |   |              | 
|Automobile | $ | 31,167 |  | $ | -            |  | $ | 31,167       | 

No depreciation has been provided as the Company acquired the
automobile at April 30, 2007.

NOTE E  ADVANCES FROM RELATED PARTIES AND RELATED PARTY
TRANSACTIONS

a) During the period ended April 30, 2007, the Company's
significant shareholders advanced funds to the Company for working capital
purposes. Total amount due to related parties was $3,600 as of April 30, 2007.
The amounts advanced are unsecured, non-interest bearing and have no specific
terms of repayment.

b) At April 30, 2007, the Company had paid $60,000 in
management fees to directors of the Company and $6,000 to a director of the
Company for consulting fees pursuant to management and consulting agreements.
Management fees expense to directors totalled $60,000 and is included in general
and administrative expenses in the statement of operations.

c) The Company loaned Hemis Corporation (the Companys CEO is
also Hemis Corporations CEO) $120,000. The loan is non-interest bearing.

F-11

---

|TECTON CORPORATION            
|------------------------------
|(An exploration stage company)
|NOTES TO FINANCIAL STATEMENTS 
|APRIL 30, 2007                
|(Unaudited)                   

NOTE F  COMMITMENTS AND CONTINGENCIES

The Company entered into Management agreements in December 02,
2006. Pursuant to the agreements, the Company is obligated to pay management
fees of $22,000 a month to directors of the Company. The Company also entered
into a Consulting agreement on December 22, 2006. Pursuant to the agreement, the
Company is obligated to pay fees of $10,000 a month for consulting services.

The Company entered into an independent consulting agreement
with Hudson Capital Corp. on February 1, 2007 pursuant to which the Company is
obligated to pay a consulting fee of $5,000 a month to Hudson Capital Corp. in
addition to issuing 1,000,000 common shares at a price of $0.10 per share. The
shares were issued on February 5, 2007.

NOTE G SUBSEQUENT EVENTS

Subsequent to April 30, 2007:

| | (a) | On May 14, 2007 the Company incorporated Tecton Uranium
      Corporation a wholly owned subsidiary.                                                                                                                                                                                                                                                                                                         
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                              
| | (b) | On May 23, 2007 the Companys wholly owned subsidiary
      Tecton Uranium Corporation was spun off as an independent company by way
      of a dividend declaration from the Company.                                                                                                                                                                                                                       
| |     |                                                                                                                                                                                                                                                                                                                                                                                                              
| | (c) | Subsequent to April 30, 2007, the Company repaid loans of
      $50,000 to a Company with directors in common.                                                                                                                                                                                                                                                                                               
| |     |                                                                                                                                                                                                                                                                                                                                                                                                              
| | (d) | On May 8, 2007 the Company issued an aggregate of 400,000
      shares of common stock to one non-US investor in exchange for cash at
      $0.25 per share.                                                                                                                                                                                                                                                 
| |     |                                                                                                                                                                                                                                                                                                                                                                                                              
| | (e) | On May 26, 2007 the Company issued an aggregate of
      365,000 shares of common shares to three non-US investors in exchange for
      cash at $0.25 per share.                                                                                                                                                                                                                                            
| |     |                                                                                                                                                                                                                                                                                                                                                                                                              
| | (f) | On May 30, 2007 the Company entered into an agreement
      with GeoXplor Corp. to acquire an option to acquire the 100% mining rights
      to the Firefly Properties located in San Juan County, Utah. Pursuant to
      the agreement, the Company paid $200,000 in cash to GeoXplor Corp. on June
      5, 2007, and issued 200,000 shares of its common stock to GeoXplor Corp.
      on June 7, 2007.
| |     |                                                                                                                                                                                                                                                                                                                                                                                                              
| | (g) | On June 7 2007 we issued an aggregate of 100,000 shares
      of common shares to one non-US investor in exchange for cash at $0.25 per
      share.                                                                                                                                                                                                                                                         

F-12

---

ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION/ PLAN OF OPERATIONS

Forward Looking Statements

This Quarterly Report on Form 10-QSB contains forward-looking
statements that involve risks and uncertainties. These statements relate to
future events or our future financial performance. In some cases, you can
identify forward-looking statements by terminology including, "could" "may",
"will", "should", "expect", "plan", "anticipate", "believe", "estimate",
"predict", "potential" and the negative of these terms or other comparable
terminology. These statements are only predictions. Actual events or results may
differ materially.

While these forward-looking statements, and any assumptions
upon which they are based, are made in good faith and reflect our current
judgment regarding the direction of our business, actual results will almost
always vary, sometimes materially, from any estimates, predictions, projections,
assumptions or other future performance suggested in this Quarterly Report.

Introduction

We were incorporated as a Nevada company on January 19, 2006,
as a wholly owned subsidiary of Hemis Corporation. On December 1, 2006 Hemis
declared a dividend in the amount of one common share of Tecton for every
$0.0001 of dividend declared, which equated to one common share of Tecton for
every 100 shares of the Hemis owned as at December 1, 2006. At the same time the
dividend was declared, Hemis cancelled its share ownership in Tecton. The effect
of this dividend declaration and share cancellation was that Tecton was spun off
as an independent company.

We formed one active wholly-owned subsidiary, Tecton Uranium
Corporation which was incorporated in Nevada on May 14, 2007. On May 23, 2007
Tecton Uranium Corporation was spun off as an independent company by way of a
dividend declaration from the Company. More details of the spin off are at Item
5 Other Information below.

We have been engaged in the acquisition, exploration and
development of mineral properties since our inception.

Overview

We are engaged in the acquisition of uranium properties that
are either past producers, have been the subject of prior work programs and, or
contain historic resources. Additionally, we are looking to acquire other
selective early stage properties. Our geographic focus is the United States and
Canada.

On December 20, 2006, we acquired the rights to the Ace of
Spades property on Texada Island, British Columbia, Canada from David Anthony
Zamida for a final purchase price of approximately $3,267 for 100% interest in
this property. We do not plan to explore this property; instead we plan to
option this property to another mining company within the next 12 months.

2

---

On January 22, 2007 we signed an agreement with the
Saskatchewan Syndicate to acquire an option to the 100% interest in the mineral
rights to a property with uranium potential in Wapata Lake, Saskatchewan, Canada
(the Wapata Lake Property). The Saskatchewan Syndicate is comprised of Timothy
Young of Vancouver, B.C., and 455702 B.C. Ltd. We signed an addendum to this
agreement on January 31, 2007 (together, the Wapata Lake Agreement).

On May 30, 2007, we entered into an agreement with GeoXplor
Corp. whereby we have acquired an option to acquire a 100% interest in the
certain mining properties, located in San Juan County, Utah (the Firefly
Properties). The Firefly Properties are comprised of mineral concessions with
uranium potential that were issued to GeoX by the Bureau of Land Management.

We are an exploration stage company. The Wapata Lake project
and the Firefly Properties are at the exploration stage and there is no
assurance that they contain a commercially viable ore body. Further exploration
beyond the scope of our planned exploration activities will be required before a
final evaluation as to the economic and legal feasibility of mining of the
properties is determined. We plan to undertake such further exploration, however
we anticipate that we will require significant additional financing in order to
do so, and there is no assurance that we will be able to obtain the necessary
financing in the future. Even if we do obtain the financing, there is no
assurance that further exploration will result in a final evaluation that a
commercially viable mineral deposit exists on the properties.

As of June 1, 2007 we have no revenues, have achieved losses
since inception, have been issued a going concern opinion by our auditors and
rely upon the sale of our securities to fund operations. We will not generate
revenues even if our exploration program indicates that a mineral deposit may
exist on the Wapata Lake Property or the Firefly Properties. Accordingly, we
will be dependent on future additional financing in order to maintain our
operations and continue our exploration activities.

Plan of Operation

Our plan of operation for the next twelve months beginning June
1, 2007 is to carry out exploration of the Wapata Lake Property and the Firefly
Properties and to acquire other selective early stage properties in the US or
Canada. Our plan of operation does not include exploration of the Ace of Spades
property, as we intend to option this out to another mining company within the
next 12 months. We intend to primarily explore for uranium, but if we discover
that any of our mineral properties hold potential for other minerals that our
management determines are worth exploring further, then we will explore for
those other minerals. Our exploration programs are preliminary in nature in that
their completion will not result in a determination that any of our properties
contains commercially exploitable quantities of mineralization. Our management
estimates that over the next 12 months (beginning June 1, 2007) we will spend
approximately $3,750,000 in exploration expenses to determine if our mineral
concessions do have commercially exploitable quantities of mineralization.

Our exploration program will be directed by our management and
will be supervised by Dr. Norman Meier, our President and Chief Executive
Officer. We will engage contractors to carry out our exploration programs under
Dr. Meier's supervision. We plan to engage project geologists, geochemical
sampling crews and drilling companies as contractors, depending on the specific
exploration program of the property. We plan to solicit bids from drilling
companies prior to selecting any drilling company to complete a drilling
program. We anticipate paying normal industry rates for core drilling.

3

---

We plan to continue exploration of our mineral claims for so
long as the results of the geological exploration that we complete indicate
further exploration of our mineral claims is recommended and we are able to
obtain the additional financing necessary to enable us to continue exploration.
All exploration activities on the Wapata Lake Property and the Firefly
Properties are presently preliminary exploration activities. Advanced
exploration activities, including the completion of comprehensive drilling
programs, will be necessary before we are able to complete any feasibility
studies on any of our mineral properties. If our exploration activities result
in an indication that the Wapata Lake Property and, or, the Firefly Properties
contain a potentially commercially exploitable quantity of uranium, then we
would attempt to complete feasibility studies on the property to assess whether
commercial exploitation of the property would be commercially feasible. There is
no assurance that commercial exploitation of our mineral claims would be
commercially feasible even if our initial exploration program shows evidence of
uranium mineralization.

If we determine not to proceed with further exploration of the
Wapata Lake Property or the Firefly Properties due to results from geological
exploration that indicate further exploration is not recommended, or due to our
lack of financing, we will attempt to acquire additional interests in new
mineral resource properties in Canada and the US. Due to our limited finances,
there is no assurance that we would be able to acquire an interest in a new
property that merits further exploration. If we were to acquire an interest in a
new property, then our plan would be to conduct resource exploration of the new
property. In any event, we anticipate that our acquisition of a new property and
any exploration activities that we would undertake will be subject to our
achieving additional financing, of which there is no assurance.

Exploration

The Wapata Lake Property and the Firefly Properties are in the
early stages of exploration. We will use a phased exploration approach by which
the results of each phase will determine the nature and level of activities for
the next.

With regards to the Wapata Lake Property, the initial phase
during the summer of 2007 will involve additional airborne geophysical surveys
over a substantial portion of the land holdings. The purpose will be to identify
favorable conductive graphitic horizons in the metamorphic basement. It is
believed that by using the current generation of airborne electromagnetic
equipment (e.g. Megatem), conductive zones can be identified in deeper parts of
the basin where no strong conductors were located before. Conductive zones
identified by air will be further defined by ground geophysics. This in turn may
lead to drilling to test the target unconformity.

The Firefly project is a uranium-vanadium project favourably
positioned within the La Sal mineral trend, an east-west "channel" within the
Jurassic Salt Wash Member of the Morrison Formation. The La Sal trend contains
numerous small to large uranium-vanadium deposits discovered from the 1940's
through the late 1970's, but has seen little to no exploration since. We have
only recently acquired the rights to acquire the mining rights to this project.
Our initial priority will be to try to expand our land position in this area and
obtain further data and information on the surrounding La Sal trend and in this
way begin to build a GIS database. Once we have presentable data in a GIS
format, we will begin the process of applying to the United States Forest
Service to obtain the necessary permits. Following this, we will commence
initial drilling with relatively inexpensive open holes using conventional mud
as a circulation medium and gamma log the holes rather than assay. Overall, we
anticipate spending $3-5 million over the next 3-5 years.

4

---

Our planned exploration expenditures for the next twelve months
(beginning June 1, 2007) on our mineral properties, together with amounts we
expect to spend on administrative costs are summarized as follows:

Description of
      Expense
    AmountExploration of the
      Wapata Property
    $2,750,000Payment towards acquisition of the Wapata Property
      mining rights
    $424,000Exploration of the
      Firefly Properties
    $1,000,000Payment towards acquisition of the Firefly Properties
      mining rights
    $400,000 (1)Obtaining
      interests in other mining rights
    $1,000,000General and
      Administrative Expenses
    $500,000Offering Expenses (including legal, accounting and auditing
      fees)
    $50,000Total
    $6,124,000


| | (1) | we are obliged to pay $200,000 to GeoXplor Corp by June
      15, 2007, which amount was paid in full on June 5, 2007. In addition, we
      must incur exploration expenditures of at least $200,000 by May 30,
      2007.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The general and administrative expenses for the year will
consist primarily of professional fees for the audit and legal work relating to
our regulatory filings throughout the year, as well as transfer agent fees,
management fees, investor relations and general office expenses.

Wapata Lake

The exploration expenses relating to the Wapata Lake property
are calculated bearing in mind our obligations pursuant to the Wapata Lake
Agreement. This agreement obligates us to keep the Wapata Lake Property in good
standing with the Saskatchewan government both before and after we exercise the
option. In order to do this, we must spend in exploration expenses, or
alternatively pay to the Saskatchewan government, approximately $2,746,000 per
year for the first 10 years and approximately $5,714,286 per year thereafter. We
estimate that we will be required to spend an additional $2,746,000 over the
next 12 months in exploration expenses to maintain the Wapata Lake Property in
good standing.

Due Date
    Amount
    DescriptionFebruary 5, 2007
    $126,874 cash (paid)
    Paid to the Saskatchewan SyndicateFebruary 12, 2007
    3,000,000 common shares of Tecton (issued)
    Issued to the SyndicateFebruary 23, 2007
    $297,000 cash (paid)
    Paid
      to the SyndicateSeptember 1, 2007
    $424,000 cash
    Due to
      the SyndicateFebruary 4, 2008
    $2,746,000
    Annual
      exploration expensesFebruary 4, 2009
    $2,746,000
    Annual
      exploration expensesFebruary 4, 2010
    $2,746,000
    Annual
      exploration expensesFebruary 4, 2011
    $2,746,000
    Annual
      exploration expenses


5

---

In addition to making these payments, we are also obliged to
pay the following royalties:

- gross overriding royalty equal to 3% of the average value of all gem and
  industrial diamonds recovered from the Wapata Lake Property; and
- 3% of the actual proceeds received from the sale of ore, or other products
  from the Wapata Lake Property (Net Smelter Returns). Such Net Smelter
  Returns may be paid in kind subject to negotiations with the Syndicate.

If we do not pay $424,000 to the Saskatchewan Syndicate by
September 1, 2007, we will forfeit our rights to exercise the option and the
Wapata Lake Agreement will be terminated. If we dont spend the minimum amount
of exploration expenses each year (or pay the equivalent sum to the Saskatchewan
government) we will lose our mineral rights to the Wapata Lake Property.

Firefly

The exploration expenses relating to the Firefly Properties are
calculated bearing in mind our obligations pursuant to the Firefly Agreement.
Under the terms of the Firefly Agreement, we have the exclusive right to conduct
exploration on the Firefly Properties during the term of the agreement, provided
that we pay to GeoX an aggregate sum of $200,000 by June 15, 2007 (this was paid
in full on June 5, 2007). In addition, we must incur minimum annual exploration
expenditures and stock issuances.

Payment Schedule: Exploration Expenditure, Shares to
be Issued, Net Smelter Payments

We are obligated to make the following minimum exploration
expenditures in order to maintain the Firefly Agreement and fully exercise the
option:

Due Date
    Minimum Amount of Exploration
      ExpendituresMay 30, 2008
    $200,000May 30, 2009
    $250,000May 30, 2010
    $300,000Total
    $750,000


We are also obligated to make the following issuances of our
capital stock to GeoX in order to maintain the Firefly Agreement and fully
exercise the option:

Due Date
    Shares to be IssuedOn or before June
      25, 2007
    200,000 common shares (issued June 7, 2007)On or before May
      30, 2008
    200,000 common shares


We are also obligated to pay to GeoX a net smelter royalty
equal to 3% of sales of uranium or other ores from the Firefly Properties. At
any time, we may acquire 50% of the rights of GeoX to the Net Smelter Royalty by
paying GeoX $1,000,000 and issuing GeoX 500,000 shares of our common stock.

6

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We have also agreed to make the following payments upon the
occurrence of the specific events indicated:

Event
    Required PaymentUpon earlier of: a) Receipt by Tecton of a feasibility
      study recommending production; and b) May 30, 2010.
    $1,000,000Upon earlier of: a) Commencement of construction of
      mine on Firefly Property; and b) May 30, 2011.
    $1,000,000Upon earlier of: a) Commencement of commercial
      production from Firefly Property; and b) May 30, 2012.
    $1,500,000Upon receipt of first $1,500,000 from commercial
      production from the Firefly Property.
    $1,500,000


As of April 30, 2007, we had approximately $1,253,015 in cash
in our bank accounts. Based on our planned expenditures as outlined above, we
require additional capital of approximately $4,870,985 to proceed with our plan
of operations over the next twelve months. We require additional financing in
order to pursue our exploration programs. If we achieve less than the full
amount of financing that we require, we will scale back our exploration programs
on our mineral properties and will proceed with scaled back exploration plans
based on our available financial resources.

From the date of this Quarterly Report for the following 30
months, we anticipate that we will not generate any revenue. Accordingly, we
will be required to obtain additional financing in order to continue our plan of
operations. We believe that debt financing will not be an alternative for
funding additional phases of exploration 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. 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 to fund our exploration programs. In the absence of such financing, we
will not be able to continue exploration of our mineral claims. Even if we are
successful in obtaining equity financing to fund our exploration program, there
is no assurance that we will obtain the funding necessary to pursue any advanced
exploration of our mineral claim following the completion of preliminary
exploration. If we do not continue to obtain additional financing, we will be
forced to abandon the property and our plan of operations.

Our exploration plans will be continually evaluated and
modified as exploration results become available. Modifications to our plans
will be based on many factors, including: results of exploration, assessment of
data, weather conditions, exploration costs, and the price of uranium and other
mineral resources and available capital. Further, the extent of our exploration
programs that we undertake will be dependent upon the amount of financing
available to us.

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Product Research and Development

We do not anticipate spending any material amounts in
connection with product research and development activities during the next
twelve months.

Acquisition of Plant and Equipment and Other Assets

Apart from our interests in the mineral concessions, we do not
anticipate the sale or acquisition of any material property, plant or equipment
during the next twelve months. Any acquisitions are subject to obtaining
additional financing.

Number of Employees

As at June 1, 2007, our Chief Executive Officer, Chief
Financial Officer, and Chief Operating Officer work as part time consultants,
each contributing approximately 20% of their time to Tecton. We have also
retained two geologist consultants on our advisory board part time. In addition,
we also engage independent consultants in the areas of marketing, accounting,
bookkeeping and legal services.

In order for us to attract and retain quality personnel, we
anticipate we will have to offer competitive salaries to future employees. We
anticipate that it may become desirable to add additional full and or part time
employees to discharge certain critical functions during the next twelve months.
This projected increase in personnel is dependent upon our ability to generate
revenues and obtain sources of financing. There is no guarantee that we will be
successful in raising the funds required or generating revenues sufficient to
fund the projected increase in the number of employees. As we continue to
expand, we will incur additional cost for personnel.

Results of Operations for the three months ended April
30, 2007, three months ended April 30, 2006 and for the period from January 19,
2006 (inception) to April 30, 2007

Our results of operations are presented below:

Three Months Ended April 30, 2007
    For the three months ended April 30,
      2006
    For the period from January 19,
      2006 (date of Inception) through April 30, 2007Costs and
      Expenses:General and
      Administrative
    $
      238,533
    -
    $
      361,043Mineral property and exploration costs
    795,470
    -
    798,737Total Operating
      Expenses
    1,034,003
    -
    1,159,780Net Loss
    (1,034,003)
    -
    (1,159,780)Loss per common share (basic and fully diluted)
    $ (0.01)
    -Weighted average common shares outstanding
    69,677,138
    -


We anticipate that we will not earn any revenues during the
current fiscal year or in the foreseeable future as we are presently engaged in
the exploration of our mineral properties.

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During the period from February 1, 2007 to April 30, 2007, our
general and administrative expenses primarily included the following: accounting
and legal fees, filings fees, bank charges, consulting and management fees,
payroll, investor relations fees, marketing expenses, office and telephone
expenses, stock based compensation, travel and entertainment expenses, and
exploration and mineral costs.

For the three months ended April 30, 2007 our total operating
expenses were $1,034,003 compared to $1,159,780 for the period from January 19,
2006 (date of Inception) through April 30, 2007. These results are similar
because in the initial months after inception, we did not incur significant
operating expenses. The majority of our operating expenses have been incurred in
recent months primarily due to our increased business in the last quarter and an
associated increase in professional fees including accounting, legal and other
consulting fees, increased travel and entertainment expenses, and increased
mineral and exploration costs.

Liquidity and Capital Resources

As at April 30, 2007 we had cash of approximately $1,253,015
and a working capital surplus of approximately $1,393,628. As at April 30, 2007,
we had total assets of $1,514,020. Our net loss of $(1,159,780) from January 19,
2006 (date of inception) to April 30, 2007 was funded by a combination of our
equity and debt financing.

We used net cash of $786,845 in operations for the period ended
April 30, 2007. We used $31,167 in investing activities. We received net cash of
$2,071,027 from financing activities for the period ended April 30, 2007.

We anticipate that we will incur substantial losses over the
next 30 months. We estimate that we will purchase another option to acquire 100%
interest in a property, complete property purchase obligations on the Wapata
Lake Property and the Firefly Properties, and start an exploration project on
the Wapata Lake and Firefly Properties over the next 12 months beginning June 1,
2007. In order to exercise our option on the Wapata Lake Property we must make
cash payments of approximately $424,000 before September 1, 2007. Also, we plan
on spending $2,750,000 in exploration expenses for the Wapata Lake Property by
February 2008. In order to exercise our option on the Firefly Properties, we
have made cash payments of $200,000, and now must incur exploration expenditures
of $200,000 by May 30, 2008. In addition, we need approximately $500,000 for our
general and administrative expenses and $50,000 for the professional fees. Our
total cash requirements for the next 12 months will be approximately $6,124,000
less whatever cash or cash equivalents we have available to us (currently
$1,253,015 as at April 30, 2007).

We plan to raise capital through private placements, a direct
offering or loans. There is no assurance that any additional financing will be
available or if available, on terms that will be acceptable to us. Obtaining
additional financing will be subject to a number of factors including market
conditions, investor acceptance of our business plan, and investor sentiment.
These factors may make the timing, amount, terms and conditions of additional
financing unattractive or unavailable to us. If we are unable to raise
additional financing, we will have to significantly reduce our spending, delay
or cancel planned activities.

We expect to require approximately an additional $4,870,985 in
financing to continue our planned operations for the next twelve months.

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If we are unable to achieve the necessary additional financing,
then we plan to reduce the amounts that we spend on our exploration activities
and administrative expenses in order to be within the amount of capital
resources that are available to us. Specifically, we anticipate that we would
defer any drilling programs pending our obtaining additional financing. Given
our plan to scale back our operations if we do not achieve additional financing,
we anticipate that our current cash and working capital will be sufficient to
enable us to sustain our operations and our interests in our mineral properties
for the next twelve months.

Future Financings

We will require additional financing in order to proceed with
the exploration of our mineral properties. We plan to complete private placement
sales of our common stock in order to raise the funds necessary to pursue our
plan of operations. Issuances of additional shares will result in dilution to
our existing shareholders. We currently do not have any arrangements in place
for the completion of any private placement financings and there is no assurance
that we will be successful in completing any private placement financings.

Off-Balance Sheet Arrangements

We have no significant 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 stockholders.

Inflation

The effect of inflation on the Company's revenue and operating
results was not significant.

Audit Committee

The functions of the audit committee are currently carried out
by our Board of Directors. Our Board of Directors has determined that we do not
have an audit committee financial expert on our Board of Directors carrying out
the duties of the audit committee. Our Board of Directors has determined that
the cost of hiring a financial expert to act as a director of Tecton and to be a
member of the audit committee or otherwise perform audit committee functions
outweighs the benefits of having a financial expert on the audit committee.

ITEM 3. CONTROL AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

As required by Rule 13a-15 under the Exchange Act, we carried
out an evaluation of the effectiveness of the design and operation of our
disclosure controls and procedures as of April 30, 2007, being the date of our
first quarter end covered by this Quarterly Report. This evaluation was carried
out under the supervision and with the participation of our Chief Executive
Officer and Chief Financial Officer. Upon that evaluation, our Chief Executive
Officer and Chief Financial Officer concluded that our disclosure controls and
procedures are effective in timely alerting management to material information
relating to us required to be included in our periodic SEC filings.

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Disclosure controls and procedures are controls and other
procedures that are designed to ensure that information required to be disclosed
in our reports filed or submitted under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the Securities and
Exchange Commission's rules and forms.

During our quarter ended April 30, 2007, there were no changes
in our internal control over financial reporting that have materially affected,
or are reasonably likely to affect, our 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:

(1)      Pertain to the
maintenance of records that in reasonable detail accurately and fairly reflect
the transactions and dispositions of the assets of the registrant;

(2)     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

(3)     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.

PART II  OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are not aware of any pending or threatened legal proceedings
which involve Tecton or any of its properties or subsidiaries.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES

- On February 1, 2007, we issued an aggregate of 5,500,000 shares of common
  stock to various non-US investors in exchange for cash at $0.10 per share
  resulting in net proceeds of $550,000. As commission for the private placement
  of the 5,550,000 shares, we issued 550,000 warrants to Canaccord Capital Inc.
  on February 5, 2007. The 550,000 warrants are exercisable at a price of $0.10
  per share until February 5, 2009. Canaccord Capital also received $55,000 in
  cash as commissions for stock subscriptions.

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- On February 2, 2007, we issued an aggregate of 104,000 shares of common
  stock to various non-US investors in exchange for cash at $0.10 per share.
  These shares were shown as issuable at January 31, 2007.
- On February 5, 2007, we issued 1,000,000 common shares to Hudson Capital
  Corporation as compensation for $100,000 of investor relations and business
  development consulting services between February 1, 2007 and February 1, 2008.
  The shares issued in exchange for services were valued at approximately the
  fair value of shares issued during the period services were rendered.
- On February 9, 2007, we issued an aggregate of 3,000,000 shares of common
  stock pursuant to a mining agreement that we entered into in relation to the
  Wapata Lake Property.
- On February 16, 2007, we issued an aggregate of 580,000 shares of common
  stock to various non-US investors in exchange for cash at $0.25 per share.
- On March 12, 2007, we issued an aggregate of 4,424,000 shares of common
  stock to various non-US investors in exchange for cash at $0.25 per share.
- On March 27, 2007, we issued an aggregate of 488,000 shares of common stock
  to various non-US investors in exchange for cash at $0.25 per share.
- On April 12, 2007, we issued an aggregate of 80,000 shares of common stock
  to one non-US investor in exchange for cash at $0.25 per share.
- On April 12, 2007 we issued an aggregate of 410,600 shares of common stock
  to various non-US investors in exchange for cash at $0.25 per share.
- On April 30, 2007 we issued an aggregate of 355,000 shares of common stock
  to various non-US investors in exchange for cash at $0.25 per share.

Subsequent to the date of the financial statements, 1,065,000
shares have been issued.

Shares issued to all U.S. residents, including Island Stock
Transfer Agent, Douglas Oliver, Charles W. Reed, and Harvey S. Roseff, were
exempt from registration pursuant to Rule 4(2) of the Securities Act. All of the
other stock and warrant issuances described above were exempt from registration
under Regulation S of the Securities Act. Where the purchasers of the shares in
the issuances described above are not named, they are all non U.S. residents,
unless otherwise noted.

We completed the offerings of the common stock pursuant to Rule
903 of Regulation S of the Securities Act on the basis that the sale of the
common stock was completed in an "offshore transaction", as defined in Rule
902(h) of Regulation S. We did not engage in any directed selling efforts, as
defined in Regulation S, in the United States in connection with the sale of the
units. Each investor was not a US person, as defined in Regulation S, and was
not acquiring the shares for the account or benefit of a US person.

Our reliance upon the exemption under Section 4(2) of the
Securities Act of 1933 was based on the fact that the issuance of these shares
did not involve a public offering.The offering was

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not a "public offering" as defined in Section 4(2) due to the
insubstantial number of persons involved in the deal, size of the offering,
manner of the offering and number of shares offered. We did not undertake an
offering in which we sold a high number of shares to a high number of investors.
In addition, the investors had the necessary investment intent as required by
Section 4(2) since they agreed to and received a share certificate bearing a
legend stating that such shares are restricted pursuant to Rule 144 of the
Securities Act. This restriction ensures that these shares would not be
immediately redistributed into the market and therefore not be part of a "public
offering. The investors negotiated the terms of the transactions directly with
our executive officers. No general solicitation was used, no commission or other
remuneration was paid in connection with these transactions, and no underwriter
participated. Based on an analysis of the above factors, these transactions were
effected in reliance on the exemption from registration provided in Section 4(2)
of the Securities Act for transactions not involving any public offering.

Each investor was given adequate access to sufficient
information about us to make an informed investment decision. None of the
securities were sold through an underwriter and accordingly, there were no
underwriting discounts or commissions involved. No registration rights were
granted to any of the purchasers.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE SECURITY HOLDERS

None

ITEM 5. OTHER INFORMATION:

On May 23, 2007, the Company declared a dividend in the amount
of $0.00001 per share to each of the 72,914,610 common shares of the Company
issued and outstanding as of May 23, 2007, the record date. In satisfaction of
the $0.00001 dividend declaration, the Company arranged for the allotment and
issuance of one common share of Tecton Uranium Corporation, the Companys wholly
owned subsidiary, for every $0.00001 of dividend declared (which is effectively
one common share of Tecton Uranium Corporation for every 1 share of the Company
owned). Upon issuance of the shares of Tecton Uranium Corporation to the
Companys shareholders, the Company agreed to cancel its shares in Tecton
Uranium Corporation, thereby effectively spinning off Tecton Uranium Corporation
as an independent company.

ITEM 6. EXHIBITS

|Exhibit | Exhibit                                                                                                                
|------- | -----------------------------------------------------------------------------------------------------------------------
|Number  | Description                                                                                                            
|        |                                                                                                                        
|3.1     | Certificate (Articles) of
      Incorporation as filed with the Nevada Secretary of State on January 19,
      2006 (1)

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|10.1 | Wapata Lake Agreement (including addendum)
        (1)                                                                                                           
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------
|10.2 | Norman Meier Management Agreement(1)                                                                                                                             
|10.3 | Bruno Weiss Management Agreement(1)                                                                                                                              
|10.4 | Douglas Oliver Management Agreement(1)                                                                                                                           
|10.5 | Canaccord Capital Corporation Fee Agreement(1)                                                                                                                   
|10.6 | Hudson Capital Corp. Consulting Agreement(1)                                                                                                                     
|10.7 | Emil Summermatter Consulting Agreement(1)                                                                                                                        
|10.8 | Firefly Agreement                                                                                                                                                
|31.1 | Certification
        of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley
        Act of 2002                                           
|31.2 | Certification of the Chief
        Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of
        2002                                           
|32.1 | Certification
        of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted
        pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|32.2 | Certification of Chief Financial
        Officer pursuant to 18 U.S.C. Section 1350, asadopted pursuant to Section
        906 of the Sarbanes-Oxley Act of 2002 

(1) Included as exhibits on our Form SB-2/A filed April 17,
2007.

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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.

|                    | Tecton Corporation                          
|------------------- | --------------------------------------------
|                    | (Registrant)                                
|                    |                                             
|                    | /s/ Norman Meier                            
|Date: June 14, 2007 | Norman Meier                                
|                    | Director, President, Chief Executive Officer
|                    |                                             
|                    | /s/ Bruno Weiss                             
|Date: June 14, 2007 | Bruno Weiss                                 
|                    | Director, Chief Financial Officer           

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