UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934

                  For the quarterly period ended July 31, 2007

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

      For the transition period from _________________ to _________________

                        Commission file number 333-141384


                           Aspen Racing Stables, Inc.
        (Exact name of small business issuer as specified in its charter)

            Nevada                                               98-0517550
  (State or other jurisdiction of                              (IRS Employer
   incorporation or organization)                            Identification No.)

          18 Spring Valley Terrace SW Calgary, Alberta, Canada T3H 5M1
                    (Address of principal executive offices)

                                 (403) 370-1176
                           (Issuer's telephone number)


            211 Misty Morning Drive Calgary, Alberta, Canada T3Z 2Z8
                                (Former Address)

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

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

Indicate  by check mark  whether  the  registrant  is an  accelerated  filer (as
defined in Rule 12b-2 of the Exchange Act: Yes [ ] No [X ].

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

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section l2, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes [ ] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of July 31, 2007: 5,000,000 shares of common stock.







<PAGE>

Aspen Racing Stables Inc.
(A Development Stage Company)

July 31, 2007

                                                                           Index



Balance Sheets...............................................................F-1

Statements of Operations.....................................................F-2

Statements of Cash Flows.....................................................F-3

Notes to the Financial Statements............................................F-4






















<PAGE>
<TABLE>
<CAPTION>

Aspen Racing Stables Inc.
(A Development Stage Company)
Balance Sheets
(Expressed in US dollars)
(Unaudited)

                                                                   July 31,    October 31,
                                                                     2007         2006
                                                                       $            $
                                                                   ---------   ---------
<S>                                                                <C>         <C>

ASSETS

Current Assets

   Cash                                                             96,059          47

 Investment in Horses (Note 3)                                        --       118,608

 Prepaid expenses                                                      139        --
---------------------------------------------------------------------------------------

Total Assets                                                        96,198     118,655
=======================================================================================


LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities

Accounts payable                                                    16,982      28,347

Due to related party (Note 4(b))                                   197,103     100,200
---------------------------------------------------------------------------------------

Total Liabilities                                                  214,085     128,547
---------------------------------------------------------------------------------------

Commitments and Contingencies (Note 1)

Stockholders' Deficit

Preferred Stock, 10,000,000 shares authorized, $0.001 par value
None issued and outstanding                                           --          --

Common Stock, 100,000,000 shares authorized, $0.001 par value
5,000,000 shares issued and outstanding                              5,000       5,000

Stock subscriptions receivable                                        --        (5,000)

Donated Capital (Note 4(a))                                         12,000       5,250

Deficit Accumulated During the Development Stage                  (134,887)    (15,142)
---------------------------------------------------------------------------------------

Total Stockholders' Deficit                                       (117,887)     (9,892)
---------------------------------------------------------------------------------------

Total Liabilities and Stockholders' Deficit                         96,198     118,655
=======================================================================================
</TABLE>


  (The accompanying notes are an integral part of these financial statements)


                                      F-1

<PAGE>
<TABLE>
<CAPTION>

Aspen Racing Stables Inc.
(A Development Stage Company)
Statements of Operations
(Expressed in US dollars)
(Unaudited)

                                                                                                                   For the period
                                                                                                                        from
                                            Accumulated from                                                       March 10, 2006
                                             March 10, 2006    Three Months       Three Months      Nine Months       (Date of
                                            (Date of Inception)   Ended              Ended             Ended          Inception)
                                               to July 31,       July 31,           July 31,          July 31,        to July 31,
                                                  2007             2007              2006              2007              2006
                                                   $                $                 $                 $                 $
                                               ---------       ---------          ---------          ---------        ---------
<S>                                            <C>             <C>                <C>                <C>              <C>


Revenue                                         100,000           100,000              --             100,000              --
Cost of sales                                  (100,929)         (100,929)             --            (100,929)             --
-------------------------------------------------------------------------------------------------------------------------------

Gross Profit (Loss)                                (929)             (929)             --                (929)             --
-------------------------------------------------------------------------------------------------------------------------------

Expenses

Donated rent (Note 4(a))                          4,000               750               750             2,250             1,000
Donated services (Note 4(a))                      8,000             1,500             1,500             4,500             3,000
General and administrative                        1,683               434              --               1,079              --
Investor relations                                3,300             3,300              --               3,300              --
Professional fees                                38,297            12,914              --              31,459              --
Stable fees                                       2,450              --                --                --                --
Writedown of investment in horses (Note 3)       76,228              --                --              76,228              --
-------------------------------------------------------------------------------------------------------------------------------

Total Expenses                                  133,958            18,898             2,250           118,816             3,000
 -------------------------------------------------------------------------------------------------------------------------------

Net Loss For the Period                        (134,887)          (19,827)           (2,250)         (119,745)           (3,000)
-------------------------------------------------------------------------------------------------------------------------------




Net Loss Per Share - Basic and Diluted                               --                --                --                --
===============================================================================================================================


Weighted Average Shares Outstanding                             5,000,000         4,860,000         5,000,000         5,000,000
===============================================================================================================================
</TABLE>














  (The accompanying notes are an integral part of these financial statements)


                                      F-2

<PAGE>
<TABLE>
<CAPTION>

Aspen Racing Stables Inc.
(A Development Stage Company)
Statements of Cash Flows
(Expressed in US dollars)
(Unaudited)

                                                                                       For the period
                                                   Accumulated From                         from
                                                    March 10, 2006     Nine Months     March 10, 2006
                                                  (Date of Inception)     Ended     (Date of Inception)
                                                      to July 31,       July 31,        to July 31,
                                                         2007             2007              2006
                                                           $                $                $
                                                       ---------       ---------         ---------
<S>                                                    <C>             <C>               <C>

Operating Activities

Net loss for the period                                (134,887)       (119,745)         (3,000)

   Adjustments to reconcile net loss to net cash
      used in operating activities:

      Donated services                                   12,000           6,750           3,000

   Changes in operating assets and liabilities:

      Prepaid expenses                                     (139)           (139)           --
      Horse inventory                                      --           118,608            --
      Accounts payable                                   16,982         (11,365)           --
--------------------------------------------------------------------------------------------------
Net Cash Flows Used In Operating Activities            (106,044)         (5,891)           --
--------------------------------------------------------------------------------------------------

Financing Activities

   Advances from a related party                        197,103          96,903            --
   Proceeds from issuance of common shares                5,000           5,000            --
--------------------------------------------------------------------------------------------------
Net Cash Flows Provided By Financing Activities         202,103         101,903            --
--------------------------------------------------------------------------------------------------

Increase in Cash                                         96,059          96,012            --

Cash - Beginning of Period                                 --                47            --
--------------------------------------------------------------------------------------------------
Cash - End of Period                                     96,059          96,059            --
==================================================================================================

Supplemental Disclosures
   Interest paid                                           --              --              --
   Income taxes paid                                       --              --              --
==================================================================================================
</TABLE>



  (The accompanying notes are an integral part of these financial statements)


                                      F-3

<PAGE>


Aspen Racing Stables Inc.
(A Development Stage Company)
Notes to the Financial Statements
(Expressed in US dollars)


1.   Nature of Operations and Continuance of Business

     Aspen Racing Stables Inc. (the "Company") was  incorporated in the State of
     Nevada on March 10, 2006. The Company is a Development  Stage  Company,  as
     defined  by  Statement  of  Financial  Accounting  Standard  ("SFAS")  No.7
     "Accounting and Reporting by Development Stage Enterprises".  The Company's
     principal  business  is the  purchase,  breeding,  training,  and resale of
     horses. During the year ended October 31, 2006, the Company purchased seven
     foals and  commenced  breeding and training of the foals with the intention
     of reselling the horses as yearlings.  On May 25, 2007,  the Company resold
     the horses.

     These  financial  statements  have been prepared on a going concern  basis,
     which implies the Company will continue to realize its assets and discharge
     its  liabilities  in the normal  course of business.  The Company has never
     generated  revenues since inception and has never paid any dividends and is
     unlikely  to  pay  dividends  or  generate  earnings  in the  immediate  or
     foreseeable  future.  The continuation of the Company as a going concern is
     dependent upon the continued  financial support from its shareholders,  the
     ability of the Company to obtain  necessary  equity  financing  to continue
     operations,  and the  attainment of profitable  operations.  As at July 31,
     2007,  the Company has never  generated  any revenues  and has  accumulated
     losses of  $134,887  since  inception  and a  working  capital  deficit  of
     $117,887.  These factors raise  substantial  doubt  regarding the Company's
     ability to continue as a going concern.  These financial  statements do not
     include  any  adjustments  to  the  recoverability  and  classification  of
     recorded  asset amounts and  classification  of  liabilities  that might be
     necessary should the Company be unable to continue as a going concern.

     On March 16, 2007,  the Company filed an SB-2  Registration  Statement with
     the United  States  Securities  and Exchange  Commission  that was declared
     effective on June 12, 2007,  to issue  1,000,000  shares of common stock at
     $0.30 per share for gross proceeds of $300,000.


2.   Summary of Significant Accounting Policies

a)   Basis of Presentation

     These  financial  statements  and related  notes have been  prepared by the
     Company in accordance with accounting  principles generally accepted in the
     United  States,  and are  expressed  in US dollars.  The  Company's  fiscal
     year-end is October 31.

b)   Interim Financial Statements

     These interim unaudited financial statements have been prepared on the same
     basis as the annual financial  statements and in the opinion of management,
     reflect all adjustments,  which include only normal recurring  adjustments,
     necessary to present fairly the Company's  financial  position,  results of
     operations and cash flows for the periods shown.  The results of operations
     for such periods are not necessarily indicative of the results expected for
     a full year or for any future period.

c)   Use of Estimates

     The  preparation  of financial  statements in conformity  with US 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 revenues  and expenses
     during the reporting period. The Company regularly  evaluates estimates and
     assumptions  related to useful life and  recoverability  of  investment  in
     horses, donated expenses, and deferred income tax valuation allowances. The
     Company bases its estimates and  assumptions on current  facts,  historical
     experience  and various  other  factors  that it believes to be  reasonable
     under the  circumstances,  the  results  of which form the basis for making
     judgments  about the  carrying  values of assets  and  liabilities  and the
     accrual of costs and  expenses  that are not  readily  apparent  from other
     sources.   The  actual  results  experienced  by  the  Company  may  differ
     materially and adversely from the Company's estimates.  To the extent there
     are material  differences  between the  estimates  and the actual  results,
     future results of operations will be affected.




                                      F-4
<PAGE>

Aspen Racing Stables Inc.
(A Development Stage Company)
Notes to the Financial Statements
(Expressed in US dollars)


2.   Summary of Significant Accounting Policies (continued) d) Basic and Diluted
     Net Income (Loss) Per Share

     The Company  computes net income (loss) per share in  accordance  with SFAS
     No. 128, "Earnings per Share".  SFAS No. 128 requires  presentation of both
     basic  and  diluted  earnings  per  share  (EPS) on the face of the  income
     statement. Basic EPS is computed by dividing net income (loss) available to
     common  shareholders  (numerator) by the weighted  average number of shares
     outstanding  (denominator)  during the period.  Diluted EPS gives effect to
     all dilutive  potential common shares  outstanding  during the period using
     the  treasury  stock  method  and  convertible  preferred  stock  using the
     if-converted method. In computing. Diluted EPS, the average stock price for
     the  period is used in  determining  the  number of  shares  assumed  to be
     purchased  from the  exercise  of stock  options or  warrants.  Diluted EPS
     excludes all dilutive potential shares if their effect is anti dilutive. As
     at July 31, 2007, and 2006 there are no dilutive potential common shares.

e)   Comprehensive Loss

     SFAS No. 130, "Reporting  Comprehensive  Income," establishes standards for
     the reporting and display of  comprehensive  loss and its components in the
     financial  statements.  As at July 31,  2007,  and  October 31,  2006,  the
     Company has no items that represent a  comprehensive  loss and,  therefore,
     has  not  included  a  schedule  of  comprehensive  loss  in the  financial
     statements.

f)   Cash and Cash Equivalents

     The Company considers all highly liquid  instruments with maturity of three
     months or less at the time of issuance to be cash equivalents.

g)   Investment in Horses

     The value of the horses include all direct  acquisition  costs incurred and
     are  recorded at the lower of cost or market until they are  available  for
     sale.  As the Company  purchases  the horses as foals with the intention of
     breeding,  training,  and selling the horses as yearlings  (one-year olds),
     all costs  associated with the acquisition,  breeding,  and training of the
     horses are  capitalized.  During the nine month period ended July 31, 2007,
     the Company  recognized a writedown  of the carrying  costs of $76,228 as a
     charge to  operations,  and sold the  investment  in horses for proceeds of
     $100,000.

h)   Financial Instruments

     Financial  instruments,  which include cash, accounts payable,  and amounts
     due to a related party, were estimated to approximate their carrying values
     due to the immediate or short-term maturity of these financial instruments.
     The Company's  operations are in Canada which results in exposure to market
     risks from changes in foreign  currency  rates.  The financial  risk is the
     risk to the Company's  operations  that arise from  fluctuations in foreign
     exchange rates and the degree of volatility of these rates. Currently,  the
     Company  does not use  derivative  instruments  to reduce its  exposure  to
     foreign currency risk.

i)   Income Taxes

     Potential  benefits of income tax losses are not recognized in the accounts
     until realization is more likely than not. The Company has adopted SFAS No.
     109 "Accounting for Income Taxes" as of its inception. Pursuant to SFAS No.
     109 the Company is required to compute tax asset benefits for net operating
     losses carried forward.  Potential benefit of net operating losses have not
     been recognized in these financial statements because the Company cannot be
     assured it is more likely than not it will utilize the net operating losses
     carried forward in future years.

j)   Foreign Currency Translation

     The  Company's  functional  and  reporting  currency  is the United  States
     dollar.  Monetary assets and liabilities  denominated in foreign currencies
     are   translated  in  accordance   with  SFAS  No.  52  "Foreign   Currency
     Translation", using the exchange rate prevailing at the balance sheet date.
     Gains and losses  arising on  settlement  of foreign  currency  denominated
     transactions  or  balances  are  included in the  determination  of income.
     Foreign currency transactions are primarily undertaken in Canadian dollars.
     The Company has not, to the date of these  financials  statements,  entered
     into  derivative  instruments  to offset  the  impact of  foreign  currency
     fluctuations.


                                      F-5

<PAGE>

Aspen Racing Stables Inc.
(A Development Stage Company)
Notes to the Financial Statements
(Expressed in US dollars)


2.   Summary of Significant Accounting Policies (continued)

k)   Revenue Recognition

     The Company  recognizes  revenue from the sale of its' horses in accordance
     with Securities and Exchange  Commission  Staff Bulletin No. 104,  "Revenue
     Recognition in Financial  Statements".  Revenue is recognized only when the
     price is fixed  or  determinable,  persuasive  evidence  of an  arrangement
     exists, the horses are available for immediate delivery, and collectibility
     is  assured.  On May 25,  2007,  the Company  disposed of its entire  horse
     inventory for total revenue of $100,000.

l)   Recent Accounting Pronouncements

     In February 2007, the Financial  Accounting Standards Board ("FASB") issued
     SFAS No. 159,  "The Fair Value Option for  Financial  Assets and  Financial
     Liabilities  - Including  an  Amendment of FASB  Statement  No. 115".  This
     statement permits entities to choose to measure many financial  instruments
     and certain other items at fair value.  Most of the  provisions of SFAS No.
     159 apply only to entities that elect the fair value option.  However,  the
     amendment to SFAS No. 115 "Accounting  for Certain  Investments in Debt and
     Equity  Securities"  applies to all entities  with  available-for-sale  and
     trading  securities.  SFAS No. 159 is effective  as of the  beginning of an
     entity's  first  fiscal year that begins after  November  15,  2007.  Early
     adoption is permitted  as of the  beginning of a fiscal year that begins on
     or before  November 15, 2007,  provided the entity also elects to apply the
     provision of SFAS No. 157, "Fair Value Measurements".  The adoption of this
     statement  is not  expected  to have a  material  effect  on the  Company's
     financial statements.

     In September  2006, the SEC issued Staff  Accounting  Bulletin  ("SAB") No.
     108,  "Considering the Effects of Prior Year Misstatements when Quantifying
     Misstatements in Current Year Financial  Statements." SAB No. 108 addresses
     how  the  effects  of  prior  year  uncorrected   misstatements  should  be
     considered  when  quantifying   misstatements  in  current  year  financial
     statements.  SAB No. 108 requires companies to quantify misstatements using
     a balance  sheet and income  statement  approach  and to  evaluate  whether
     either  approach  results in quantifying an error that is material in light
     of relevant  quantitative an qualitative  factors. SAB No. 108 is effective
     for fiscal  years ending  after  November  15,  2006.  The adoption of this
     statement did not have a material  effect on the Company's  future reported
     financial position or results of operations.

     In September 2006, the FASB issued SFAS No. 158, "Employers' Accounting for
     Defined  Benefit Pension and Other  Postretirement  Plans - an amendment of
     FASB  Statements  No. 87, 88, 106, and  132(R)".  This  statement  requires
     employers to recognize the  overfunded or  underfunded  status of a defined
     benefit  postretirement  plan (other than a multiemployer plan) as an asset
     or  liability  in its  statement  of  financial  position  and to recognize
     changes  in that  funded  status  in the year in which  the  changes  occur
     through   comprehensive   income  of  a  business   entity  or  changes  in
     unrestricted  net assets of a not-for-profit  organization.  This statement
     also  requires an employer to measure the funded status of a plan as of the
     date  of  its  year-end  statement  of  financial  position,  with  limited
     exceptions. The provisions of SFAS No. 158 are effective for employers with
     publicly  traded equity  securities as of the end of the fiscal year ending
     after  December 15, 2006. The adoption of this statement is not expected to
     have a material effect on the Company's future reported  financial position
     or results of operations.

     In September 2006, the FASB issued SFAS No. 157, "Fair Value Measurements".
     The objective of SFAS No. 157 is to increase  consistency and comparability
     in fair  value  measurements  and to expand  disclosures  about  fair value
     measurements.  SFAS No. 157 defines fair value, establishes a framework for
     measuring  fair value in  generally  accepted  accounting  principles,  and
     expands  disclosures  about fair value  measurements.  SFAS No. 157 applies
     under other  accounting  pronouncements  that  require or permit fair value
     measurements  and does not  require  any new fair value  measurements.  The
     provisions of SFAS No. 157 are effective for fair value  measurements  made
     in fiscal years  beginning  after  November 15, 2007.  The adoption of this
     statement is not expected to have a material effect on the Company's future
     reported financial position or results of operations.

     In June 2006,  the FASB issued FASB  Integration  No. 48,  "Accounting  for
     Uncertainty in Income Taxes, an  interpretation of FASB Statements No. 109"
     (FIN 48). FIN 48 clarifies the accounting  for  uncertainty in income taxes
     by prescribing a two-step method of first evaluating whether a tax position
     has met a more likely than not recognition threshold and second,  measuring
     that tax position to determine  the amount of benefit to be  recognized  in
     the financial  statements.  FIN 48 provides guidance on the presentation of
     such positions within a classified  statement of financial position as well
     as on derecognition, interest and penalties, accounting in interim periods,
     disclosure,  and transition. FIN 48 is effective for fiscal years beginning
     after  December 15, 2006.  The adoption of this standard is not expected to
     have a material effect on the Company's  results of operations or financial
     position.


                                      F-6

<PAGE>

Aspen Racing Stables Inc.
(A Development Stage Company)
Notes to the Financial Statements
(Expressed in US dollars)


3.   Investment in Horses

     During the nine month period ended July 31, 2007, the Company incurred $nil
     (2006 - $nil) of  direct  acquisition  costs and  $58,549  (2006 - $nil) of
     indirect  development  costs  related to  breeding  and  training  of seven
     horses.  In April,  2007, the Company  recorded a writedown of the carrying
     value of the horses by $76,228. On May 25, 2007, the Company sold the seven
     horses for proceeds of $100,000.


4.   Related Party Transactions

     a)   During  the nine  month  period  ended  July  31,  2007,  the  Company
          recognized  a total of $2,250  (2006 - $1,000) of donated rent at $250
          per month and $4,500 (2006 - $2,000) of donated management services at
          $500 per month provided by the President of the Company.

     b)   In August  2006,  a relative  of a director  of the  Company  advanced
          $100,200 to the Company for working capital purposes.  During the nine
          month  period  ended July 31,  2007,  a relative  of a director of the
          Company  advanced a further $96,903 to the Company for working capital
          purposes.  At  July  31,  2007,  the  Company  owes  $197,103  (2006 -
          $100,200) for  shareholder  advances.  These  advances are  unsecured,
          non-interest bearing, and are due on demand.








                                      F-7




<PAGE>

Item 2. Management's Discussion and Analysis and Plan of Operations

General

     The Company's  principal business in the purchase,  breeding,  training and
resale of thoroughbred  race horses.  In 2006 we purchased seven horses with the
intention  of  reselling  them as two year  olds.  As of July  31,  2007 we have
generated $100,000 in revenues from the sale of our horses.

Three Months and Nine Months Ended July 31, 2007 Compared to 2006.

     Revenues. We have generated $100,000 in revenues for the three months ended
July 31, 2007, versus zero revenues since our incorporation on March 10, 2006.

     Expenses.  During the three-months ended July 31, 2007, we incurred $18,898
of expenses, consisting mainly of $12,914 of professional (legal and accounting)
fees, and $3,300 of investor relations fees. For the nine months ended April 30,
2007, our expenses were $118,816,  consisting  mainly of $76,628 in writedown of
carrying  value of horses,  and  $31,459 of  professional  fees,  and of donated
services and rent of $6,750.

     Net  Loss.  For the  three  months  ended  July  31,  2007 our net loss was
$19,827. For the nine months ended July 31, 2007 our net loss was $119,745.

Proceeds From Initial Public Offering

     The initial public offering of the Company's  Common Stock closed on August
24, 2007, and has resulted in the sale of 1,000,000  shares at $0.30 per shares,
for gross proceeds of $300,000.

     We will incur  continued  reporting costs to the SEC, and proceeds from the
offering  will be used as  required  to pay for the legal and  accounting  costs
related to the filings.

Liquidity

     As of July 31,  2007,  our cash  balance  was  $96,059 and we had a working
capital deficit of $117,887.  We did generated $100,000 in revenues for the nine
months ended July 31, 2007. We had not  previously  generated any revenues since
our  inception.  All of our cash needs have been met from private debt financing
and the sale of our equity securities.

     In May 2007, we sold our inventory of horses for $100,000.  We will use the
proceeds of such sales and money from our initial  public  offering to acquire a
new inventory of horses at auctions during our fourth fiscal quarter.

     With the completion of our initial public  offering,  we believe that, even
though our  auditors  have  expressed  substantial  doubt  about our  ability to
continue as a going concern, we will have sufficient financial resources to meet
our obligations for at least the next twelve months and beyond. Assuming that we
do not  increase  our current  capacity to provide  services,  our primary  cash
requirements   would  be  those  associated  with  maintaining  our  horses  and
maintaining our status as a reporting entity. We believe that on an annual basis
those costs would not exceed  $100,000 Based on this belief,  we believe we will
have  adequate  financial  resources  to meet our  financial  obligations  as we
currently conduct business for at least 12 months.



Item 3. Controls and Procedures

     (a)  Within the 90-day period prior to the date of this report,  we carried
          out an evaluation, under the supervision and with the participation of
          our  management,  including  the  Chief  Executive  Officer  and Chief
          Financial Officer, of the effectiveness of the design and operation of
          our disclosure  controls and procedures pursuant to Rule 13a-14 of the
          Securities  Exchange Act of 1934 (the "Exchange Act"). Based upon that
          evaluation,  the Chief Executive  officer and Chief Financial  Officer
          concluded that our disclosure controls and procedures are effective in
          timely alerting them to material  information  relating to the Company
          required to be included in our  Exchange Act  filings.  The  Executive
          Officer  responsible for the financial reporting and disclosure are in
          direct  control  of the  books  and  records  of the  Company  and are
          involved  first-hand  in the  decision  making  process  for  material
          transactions.

                                        9




<PAGE>

     (b)  There have been no significant  changes in our internal controls or in
          other factors,  which could  significantly  affect  internal  controls
          subsequent to the date we carried out our evaluation.



                          PART II -- OTHER INFORMATION



Item 1. Legal Proceedings

          None.



Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

         None.



Item 3. Defaults Upon Senior Securities

         None.



Item 4. Submission of Matters to a Vote of Security Holders

         None.



Item 5. Other Information

         None.



Item 6. Exhibits.

         31.1       Certification  by CEO/CFO pursuant to 18 USC Section 1350 as
                    adopted by Section 302 of the Sarbanes-Oxley Act of 2002.

         32.1       Certification  by CEO/CFO pursuant to 18 USC Section 1350 as
                    adopted by Section 906 of the Sarbanes-Oxley Act of 2002.



                                   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.

     Date: September 19, 2007

                                                  ASPEN RACING STABLES, INC.



                                                  By: /s/ Dwight McLellan
                                                      --------------------------
                                                      Dwight McLellan, President




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