UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, DC 20549FORM 10-QSB

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934



|For the quarterly period endedOctober 31, 2007
|----------------------------------------------

|[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|--------------------------------------------------------------------------------------------

For the transition period from ______________________To _____________________



|Commission file number333-141817TECTON CORPORATION (Exact name of registrant as specified in its charter)
|---------------------------------------------------------------------------------------------------------

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

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



|(702) 387-2382
|--------------

(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 December 17, 2007, the registrants outstanding common stock consisted of78,245,810shares.

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Table of ContentsPART I  FINANCIAL INFORMATION
     
     1Item 1. Financial Statements
     
     1Item 2. Management Discussion and Analysis of Financial Condition/Plan ofOperation
     
     2Item 3. Control and Procedures
     
     13PART II  OTHER INFORMATION
     
     15Item 1. Legal Proceedings
     
     15Item 2. Unregistered Sales of Equity Securities
     
     15Item 3. Defaults upon Senior Securities
     
     16Item 4. Submission of Matters to a Vote Security Holders
     
     16Item 5. Other Information
     
     16Item 6. Exhibits
     
     17


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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 CorporationOctober 31, 2007(unaudited)

F-2

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TECTON CORPORATION(An exploration stage company)
Index to Financial StatementsPageBalance Sheet at October 31, 2007
     
     F-3Statements of Losses for the nine months ended October 31, 2007 and October 31,2006 and for theperiod January 19, 2006 (date of Inception) to October 31, 2007
     
     F-4Statements of Stockholders' Deficiency for the period January 19, 2006(date of Inception) to October 31, 2007
     
     F-5  F-7Statements of Cash Flows for the nine months ended October 31, 2007 and October 31,2006 and for theperiod January 19, 2006 (date of Inception) to October 31, 2007
     
     F-8Notes to Financial Statements
     
     F-9  F-13


F-2

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|TECTON CORPORATION(An exploration stage company)BALANCE SHEETOCTOBER 31, 2007(Stated in US dollars)(Unaudited)
|--------------------------------------------------------------------------------------------------------------

ASSETS:Cash
     
     $ 254,887Accounts receivable
     
     492Prepaid expenses
     
     73,603Loans receivable, related party ( Note E )
     
     926,396Total current asset
     
     1,255,378Capital assets (Note D )
     
     30,015Total assets
     
     $ 1,285,393LIABILITIES AND STOCKHOLDERS' EQUITYAccounts payable and accrued expenses
     
     $ 83,866Advances from related parties (Note E)
     
     3,600Total current liabilities
     
     87,466Stockholders' equity:Common stock, 80,000,000 shares authorized; par value $ .0001 per share; 78,150,810shares issued and outstanding
     
     7,815Common stock issuable; 390,000 shares
     
     39Additional paid-in capital
     
     3,729,711Deficit accumulated during exploration stage
     
     (2,539,638)Total stockholders' equity
     
     1,197,927Total liabilities and stockholders' equity
     
     $ 1,285,393




|See accompanying notes to financial statements
|----------------------------------------------

F-3

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

Three Months
     
     Three Months
     
     Nine Months
     
     Nine Months
     
     from January 19,Period Ended to
     
     Period Ended to
     Period Ended to
     
     Period Ended to
     
     2006 (date ofOctober 31,
     
     October 31,
     
     October 31,
     
     October 31,
     
     Inception) through2007
     
     2006
     
     2007
     
     2006
     
     October 31, 2007Costs and Expenses:General and Administrative
     
     $ 391,968
     
     $ ---
     $ 943,509
     
     $ 10
     
     $ 1,066,019Exploration Costs
     
     109,515
     
     173,696
     
     -
     
     173,696Mineral property Costs
     
     273,875
     
     1,296,656
     
     3,267
     
     1,299,923Total Operating Expenses
     
     775,358
     
     -
     2,413,861
     
     3,277
     
     2,539,638Loss from Operations
     
     (775,358)
     
     -
     (2,413,861)
     
     (3,277)
     
     (2,539,638)Provision for Income Tax
     
     -
     
     -
     -
     
     -
     
     -Net Loss
     
     $ ( 775,358)
     
     $ -
     $ (2,413,861)
     
     $ (3,277)
     
     $ (2,539,638)Loss per common share (basic and
     
     
     
     $ -fully diluted) (Note F)
     
     $ (0.010)
     
     $ (0.033)
     
     $ -
     
     $ -Weighted average common shares
     
     
     
     --outstanding
     
     78,708,896
     
     73,966,530
     
     -Options shares deemed outstanding
     
     -
     
     -
     
     -Total shares outstanding for
     
     
     
     -computation
     
     78,708,896
     
     73,966,530
     
     -




|See accompanying notes to financial statements
|----------------------------------------------

F-4

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TECTON CORPORATION(An exploration stage company) 
STATEMENTS OF STOCKHOLDERS' DEFICIENCYFOR THE PERIOD JANUARY 19, 2006 (DATE OF INCEPTION) THROUGH OCTOBER 31, 2007 
(Stated in US dollars) 
(Unaudited)

CommonCommon Stock
     
     Stock IssuableDeficitAccumulatedAdditional
     
     Common
     
     DuringPaid-in
     
     Stock
     
     ExplorationShares
     
     Amount
     
     Shares
     
     Amount
     
     Capital
     
     Subscription
     
     Stage
     
     TotalIssuance ofcommon stock atinception, January2006
     
     1,000,000
     
     $100
     
     -
     
     $ -
     
     $ -
     
     $ -
     
     $ -
     
     $100Shares CancelledDecember 2006
     
     (1,000,000)
     
     (100)
     
     -
     
     -
     
     -
     
     -
     
     -
     
     (100)Issuance ofcommon stock toinvestors pursuantto dividend paid inDecember 01, 2006at $0.0001 pershare
     
     198,010
     
     20
     
     -
     
     -
     
     -
     
     -
     
     -
     
     20Issuance ofcommon stock forcash in December02, 2006 at $0.0001per share
     
     49,000,000
     
     4,900
     
     -
     
     -
     
     -
     
     -
     
     -
     
     4,900Issuance ofcommon stock forcash in December10, 2006 at $0.001per share
     
     5,220,000
     
     522
     
     -
     
     -
     
     4,698
     
     -
     
     -
     
     5,220Issuance ofcommon stock forcash in December18, 2006 at $0.01per share
     
     2,520,000
     
     252
     
     -
     
     -
     
     24,948
     
     -
     
     -
     
     25,200Common stockissuable for cash inDecember 2006 at$.10 per share
     
     -
     
     -
     
     4,000
     
     -
     
     400
     
     -
     
     -
     
     400Common stockissuable for cash inJanuary 2007 at$.10 per share
     
     -
     
     -
     
     100,000
     
     10
     
     9,990
     
     -
     
     -
     
     10,000Common stocksubscription
     
     -
     
     -
     
     -
     
     -
     
     -
     
     (20,000)
     
     -
     
     (20,000)-
     
     -Net Loss
     
     -
     
     -
     
     
     
     
     
     -
     
     -
     
     (125,777)
     
     (125,777)Balance atJanuary 31, 2007
     
     56,938,010
     
     $5,694
     
     104,000
     
     $ 10
     
     $40,036
     
     $ (20,000)
     
     $(125,777)
     
     $(100,037)




|See accompanying notes to financial statements
|----------------------------------------------

F-5

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TECTON CORPORATION(An exploration stage company)STATEMENTS OF STOCKHOLDERS' DEFICIENCYFOR THE PERIOD JANUARY 19, 2006 (DATE OF INCEPTION) THROUGH OCTOBER 31, 2007 
(Stated in US dollars)

CommonCommon Stock
     
     Stock IssuableDeficitAccumulatedAdditional
     
     Common
     
     DuringPaid-in
     
     Stock
     
     ExplorationShares
     
     Amount
     
     Shares
     
     Amount
     
     Capital
     
     Subscription
     
     Stage
     
     TotalCommon stockissued February02,2007at $0.01 pershare
     
     104,000
     
     10
     
     (104,000)
     
     (10)
     
     
     
     -
     
     -SubscriptionsReceived February02, 2007
     
     -
     
     -
     
     -
     
     -
     
     -
     
     20,000
     
     -
     
     20,000Issuance of commonstock for privateplacement inFebruary 01,2007 at$.10 per share net offinders fee
     
     5,500,000
     
     550
     
     -
     
     -
     
     494,450
     
     -
     
     -
     
     495,000Issuance of commonstock in exchange forconsulting serviceand prepaidconsulting service onFebruary 05,2007
     
     1,000,000
     
     100
     
     -
     
     -
     
     99,900
     
     -
     
     -
     
     100,000Issuance of commonstock for mineralproperty andexploration costs inFebruary 09, 2007 at$.10 per share
     
     3,000,000
     
     300
     
     -
     
     -
     
     299,700
     
     -
     
     -
     
     300,000Issuance of commonstock for cash inFebruary 16,2007 at$.25 per share net ofcost and fees
     
     580,000
     
     58
     
     -
     
     -
     
     131,442
     
     -
     
     -
     
     131,500Issuance of commonstock for cash inMarch 12,2007 at$.25 per share net ofcost and fees
     
     4,424,000
     
     442
     
     -
     
     -
     
     994,508
     
     -
     
     -
     
     994,950Issuance of commonstock for cash inMarch 27,2007 at$.25 per share net ofcost and fees
     
     488,000
     
     49
     
     -
     
     -
     
     110,276
     
     -
     
     -
     
     110,325Issuance of commonstock for cash inApril 12,2007 at $.25per share net of costand fees
     
     490,600
     
     49
     
     -
     
     -
     
     110,995
     
     -
     
     -
     
     111,044Common stockissuable for cashin February2007 at $.25 pershare
     
     -
     
     -
     
     100,000
     
     10
     
     22,490
     
     -
     
     -
     
     22,500Common stockissuable for cashin April 2007 at$.25 per sharenet of cost andfees
     
     -
     
     -
     
     640,000
     
     64
     
     144,703
     
     -
     
     -
     
     144,767Common stockissuable for cashin May 2007 at$.25 per share
     
     -
     
     -
     
     400,000
     
     40
     
     89,960
     
     -
     
     -
     
     90,000Common stockissued in May andJuly 2007
     
     1,140,000
     
     114
     
     (1,140,000)
     
     (114)
     
     -
     
     -
     
     -
     
     -


See accompanying notes to financial statements

F-6

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Issuance of commonstock for cash onMay 26,2007 at $.25per share net of costand fees
     
     20,000
     
     2
     
     -
     
     -
     
     4,998
     
     -
     
     -
     
     5,000Issuance of commonstock for mineralproperty andexploration costs onJune 7, 2007 at $.25per share
     
     200,000
     
     20
     
     -
     
     -
     
     49,980
     
     -
     
     -
     
     50,000Issuance of commonstock for cash onJune 07,2007 at $.25per share net of costand fees
     
     100,000
     
     10
     
     -
     
     -
     
     24,990
     
     -
     
     -
     
     25,000Issuance of commonstock for cash onJuly ,2007 at $.25per share net of costand fees
     
     2,494,000
     
     249
     
     -
     
     -
     
     615,751
     
     -
     
     -
     
     616,000Issuance of commonstock for cash inJuly 2007 at $.25 pershare net of cost andfees
     
     802,000
     
     80
     
     -
     
     -
     
     180,420
     
     -
     
     -
     
     180,500Common stockissuable for cash inJuly 2007 at $.25 pershare
     
     -
     
     -
     
     870,000
     
     87
     
     217,413
     
     -
     
     -
     
     217,500Common stockissued in August andSeptember 2007
     
     870,000
     
     87
     
     ( 870,000)
     
     ( 87)
     
     -
     
     -
     
     -
     
     -Issuance ofcommon stock toinvestors pursuantto settlement ofdividend paidpreviously at$1.20 per share
     
     200
     
     -
     
     240
     
     -
     
     -
     
     -
     
     -
     
     240Common stockissuable for cash inOctober 2007 at $.25per share
     
     -
     
     -
     
     390,000
     
     39
     
     97,461
     
     -
     
     -
     
     97,500Net Loss
     
     -
     
     -
     
     -
     
     -
     
     -
     
     -
     
     (2,413,861)
     
     (2,413,861)Balance at October31, 2007
     
     78,150,810
     
     $ 7,815
     
     390,000
     
     $ 39
     
     $ 3,729,711
     
     $ -
     
     $(2,539,638)
     
     $1,197,927


See accompanying notes to financial statementsF-7

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

For the period fromJanuary 19, 2006For the nine months
     
     For the nine months
     
     (date of Inception)ended October 31,
     
     ended October 31,
     
     through October 31,2007
     
     2006
     
     2007CASH FLOWS FROM OPERATING ACTIVITIES:Net loss
     
     $ (2,413,861)
     
     $ (3,277)
     
     $ (2,539,638)Depreciation
     
     4,810
     
     -
     
     4,810Common stock issued in exchange for services
     
     100,000
     
     -
     
     100,000Common stock issued in exchange for mineralproperty and exploration costs
     
     350,000
     
     -
     
     350,000Adjustments to reconcile net loss to net cash used inoperating activities:Changes in assets and liabilities:Bank overdraft
     
     (2,345)
     
     -
     
     -Accounts receivable
     
     (492)
     
     -
     
     (492)Prepaid expense
     
     ( 73,603)
     
     -
     
     ( 73,603)Accounts payable and accrued expenses
     
     (10,227)
     
     3,267
     
     83,865NET CASH (USED IN) OPERATING ACTIVITIES
     
     (2,045,718)
     
     (10)
     
     (2,075,058)CASH FLOWS FROM INVESTING ACTIVITIES:Loans, related parties
     
     (926,396)
     
     -
     
     (926,396)Purchase of capital assets
     
     (34,824)
     
     -
     
     (34,824)NET CASH (USED IN) INVESTING ACTIVITIES
     
     ( 961,220)
     
     -
     
     ( 961,220)CASH FLOWS FROM FINANCING ACTIVITIES:Proceeds from sale of common stock and stocksubscription, net of costs and fees
     
     3,261,825
     
     2,000
     
     3,287,565Advances from related parties (Note E)
     
     -
     
     2,100
     
     3,600NET CASH PROVIDED BY FINANCING ACTIVITIES
     
     3,261,825
     
     4,100
     
     3,291,165NET CHANGE IN CASH AND CASH BALANCE ENDOF PERIOD
     
     $ 254,887
     
     $ 4,090
     
     $ 254,887Supplemental Disclosures of Cash Flow InformationCash paid during the period for interest
     
     $ -
     
     $ -
     
     $ -Income taxes paid
     
     -
     
     -
     
     -


See accompanying notes to financial statementsF-8

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|TECTON CORPORATION(An exploration stage company)NOTES TO FINANCIAL STATEMENTSOCTOBER 31, 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 October 31, 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 October 31, 2007, the Company has accumulated losses of $2,539,638.

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 October 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 October 31, 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-9

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|TECTON CORPORATION(An exploration stage company)NOTES TO FINANCIAL STATEMENTSOCTOBER 31, 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 October 31, 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 October 31, 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-10

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|TECTON CORPORATION(An exploration stage company)NOTES TO FINANCIAL STATEMENTSOCTOBER 31, 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. On May 14, 2007 the Company incorporated Tecton Uranium Corporation a wholly owned subsidiary. 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.

New Accounting Pronouncements

In June 2007, the Emerging Issues Task Force of the FASB issued EITF Issue No. 07-3,Accounting for Nonrefundable Advance Payments for Goods or Services to be Used in Future Research and Development Activities,(EITF 07-3)which is effective for fiscal years beginning after December 15,2007. EITF 07-3 requires that non refundable advance payments for future research and development activities be deferred and capitalized. Such amounts will be recognized as an expense as the goods are delivered or the related services are performed. The Company does not expect the adoption of EITF 07-3 to have a material impact on the financial results of the Company.

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 October 31, 2007, the Company incurred losses of $2,539,638.

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-11

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|TECTON CORPORATION(An exploration stage company)NOTES TO FINANCIAL STATEMENTSOCTOBER 31, 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. The Company has incurred $250,000 towards the property costs and spent $28,750 on exploration expenses.

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. The Company has agreed to issue a further 200,000 shares on May 30,2008 and incur a further $750,000 of expenditures on the property. To date the Company has incurred $23,875 on staking costs and spent $97,257 on exploration expenses.

NOTE D  CAPITAL ASSETS

Accumulated
     
     Net CarryingCost
     
     Depreciation
     
     ValueAutomobile
     
     $ 31,167
     
     $ 4,713
     
     $ 26,454Furniture and Fixtures
     
     3,657
     
     96
     
     3,561Total
     
     $34,824
     
     $4,809
     
     $ 30,015


NOTE E  ADVANCES FROM RELATED PARTIES AND RELATED PARTY TRANSACTIONS

a) During the period ended October 31, 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 October 31, 2007. The amounts advanced are unsecured, non-interest bearing and have no specific terms of repayment. b) At October 31, 2007, the Company had paid $180,000 in management fees to directors of the Company and $18,000 to a director of the Company for consulting fees pursuant to management and consulting agreements. Management fees expense to directors totalled $180,000 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) $926,396. The loan is non-interest bearing.

F-12

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TECTON CORPORATION(An exploration stage company)NOTES TO FINANCIAL STATEMENTSOCTOBER 31, 2007(Unaudited)

NOTE F  COMMITMENTS AND CONTINGENCIES

The Company entered into Management agreements on December 2, 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 EVENTSSubsequent to October 31, 2007:
|--------------------------------------------------------

|(a ) | The Company has signed service agreements with CSM Corporate Support Management tocommence November 20,2007 whereby CSM Corporate Support Management will provide organization, setup and support of the administration, human resources logistics, support and mentoring of shareholders and management of ongoing projects.                                                                                                                                                                                                                                          
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|(b)  | On November 6, 2007 the Company entered into a management agreement with Clive Massey pursuant to which Mr. Massey agrees to act as Vice President  Corporate Development in exchange for remuneration of CDN$4,000 (US$4,066) per month. In addition, Mr. Massey is entitled to receive a bonus of up to 2,250,000 common shares upon the achievement of certain events, as agreed between the parties. The term of the agreement is from November 6, 2007 until November 1, 2009 and the agreement is terminable by either party upon 14 days notice to the other.
|    

F-13

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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 Tecton.

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.

Ace of Spades

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. We plan to approach contacts of our management to find
a buyer or optionee of this property.

2

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To date we have no interested parties. We must spend approximately $6.50 per hectare per year to maintain this property in good standing with the government of British Columbia.

Wapata Lake, Saskatchewan, Canada

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). We have signed two amendments to this agreement (January 31, 2007 and September 10, 2007). In addition, on November 30, 2007 we entered into a Letter of Understanding with the Saskatchewan
Syndicate whereby the Saskatchewan Syndicate agreed to accept our final payment after the Option Expiry Date and also expressly waived its rights and remedies in relation to such late payment (together these documents constitute the Wapata
Lake Agreement). The Saskatchewan Syndicate is comprised of Timothy Young of Vancouver, B.C., and 455702 B.C. Ltd. Under the terms of the Wapata Lake Agreement, we made a first payment of $250,000 on September 14, 2007 and made the second
and final payment of $300,000 on November 30, 2007. We expect to receive formal title to the mineral rights shortly.

Pursuant to the terms of the Wapata Lake Agreement, we have the right to abandon a portion of the property in the same manner as it could the entire property.

Firefly, Utah, USA

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 an area of approximately 40,000 acres as 207 unpatented federal mining claims with uranium potential, within the La Sal uranium trend, that were issued to GeoXplor by the
Bureau of Land Management. The claims cover both the Firefly and the Grey Daun mines.

We are an exploration stage company. 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 December 11, 2007 we have generated 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 in the short term, even if our exploration program indicates that a mineral deposit may exist on the Firefly Properties or the Wapata Lake Property. Accordingly, we will be dependent on future
additional financing in order to maintain our operations and continue our exploration activities.

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Plan of Operation

Our plan of operation for the next twelve months beginning December 2007 is to carry out exploration of the Firefly Property and the Wapata Lake Property 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 December 2007) we will spend
approximately $3,746,000 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.

We plan to continue exploration of the Firefly and Wapata Lake 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 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
Firefly or Wapata Lake 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 Firefly or Wapata Lake 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.

4

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Exploration

All our mineral concessions 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 of exploration involves carrying out 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 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.

Our planned exploration expenditures for the next twelve months (beginning December 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 Firefly Properties
     
     $1,000,000 (1)Exploration of the Wapata Lake Property
     
     $2,746,000 (2)Obtaining interests in other mining rights
     
     $1,000,000General and Administrative Expenses
     
     $550,000Total
     
     $5,296,000


(1) Under the terms of our agreement with GeoXplor, we must incur exploration expenditures of at least $200,000 by May 30, 2008.

(2) Under the terms of our agreement with the Saskatchewan Syndicate, we must incur exploration expenditures of at least $2,746,000 every year.

5

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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. We expended no money or other consideration to acquire the option to the mining rights in the Wapata Lake Agreement. However, in order to maintain and exercise the option we had to make the payments of cash and issuance of shares, as of the dates set out in the table below, to the Saskatchewan Syndicate. Since we have now made all of the required payments and issuances, we expect to receive formal title to the mineral rights shortly.

The Wapata Lake Agreement also 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.

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 14, 2007
     
     $250,000 cash (paid)
     
     Paid to the SyndicateNovember 30, 2007
     
     $300,000 cash (paid)
     
     Paid 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


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 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.

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On November 30, 2007, we completed the purchase of the 49 mineral permits for a total cash value of approximately $1,036,636 (CDN$1,050,000) and 3,000,000 common shares our common stock
which were issued on February 8, 2007 at the fair market value of $0.10 per share. The purchase was completed pursuant to the Wapata Lake Uranium Property Option Agreement between the Registrant and the Saskatchewan Syndicate and Mr. Timothy
Young, first entered into on January 22, 2007, as amended on January 31, 2007 and September 10, 2007.

Location of Property

The Wapata Lake permits are located in northern Saskatchewan, Canada within the northeastern portion of the Athabasca Basin. An all weather road provides access from Points North Landing to
Stoney Rapids, Saskatchewan. The permits are adjacent to claims controlled by, among others, Cogema, Pitchstone Exploration Ltd., Purepoint Uranium Group, Magnum Uranium and International Uranium Corporation. Access to some parts of the property is
available by road, and for other parts roads will have to built.

The Wapata Lake permits cover approximately 647,653 acres and offer significant exposure to the world's most prolific uranium region. Uranium is a heavy toxic silvery-white radioactive metallic
element that is used to power nuclear energy. Our geologists have not yet carried out extensive examinations of the geology of the property, however, according to the Saskatchewan Geological Atlas, the permits contain a surface of Athabasca Group
sedimentary rocks with an underlying metamorphic (rock containing minerals that have recrystallized due to heat in a parent body asteroid) basement. These are separated by the regional unconformity. No uranium showings or float have been mapped at
surface. The depth to the target regional unconformity is estimated to vary from 250-300 meters in the northern part of the claims and up to 800 meters in the south.

Other companies working previously in the area of the permits include SMDC, Camoc and Kerr Addison. Air and ground geophysical surveys have been completed with NW-SE grid lines, however the full
details of previous programs are not known. No drilling has been performed.

Firefly

The exploration expenses relating to the Firefly Properties are calculated bearing in mind what management intends to spend on exploring the property, in addition to amounts that we need to
spend to maintain 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
GeoXplor 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:

7

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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 GeoXplor in order to maintain the Firefly Agreement and fully exercise the option:

Due Date Shares to be Issued

On 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 GeoXplor 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 GeoXplor to the Net Smelter Royalty by paying GeoXplor $1,000,000 and issuing GeoXplor 500,000 shares of our common stock.

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
     
     $1,000,000b)
     
     May 30, 2010.Upon earlier of:a)
     
     Commencement of construction of mine on Firefly property; and
     
     $1,000,000b)
     
     May 30, 2011.Upon earlier of:a)
     
     Commencement of commercial production from Firefly Property; and
     
     $1,500,000b)
     
     May 30, 2012.Upon receipt of first $1,500,000 from commercial production from the Firefly Property.
     
     $1,500,000


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As of October 31, 2007, we had approximately $254,887 in cash in our bank accounts. Based on our planned expenditures as outlined above, we require additional capital of approximately
$5,041,113 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 from third parties 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.

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 December 11, 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.

9

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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 October 31, 2007 (and 2006), nine months ended October 31, 2007 (and 2006) and for the period from January 19, 2006 (inception) to October 31, 2007

Our results of operations are presented below:

Three Months
     
     Three
     
     For the nine
     
     For the
     
     For the periodEnded
     
     Months
     
     months ended
     
     nine
     
     from JanuaryOctober 31,
     
     Ended
     
     October 31,
     
     months
     
     19, 2006 (date2007
     
     October 31,
     
     2007
     
     ended
     
     of Inception)2006
     
     
     
     October 31,
     
     through2006
     
     October 31,2007Costs and Expenses:General and
     
     $ 391,698
     
     -
     
     $ 943,509
     
     $ 10
     
     $ 1,066,019AdministrativeMineral property and
     
     $ 383,390
     
     -
     
     $ 1,470,352
     
     $ 3,267exploration costs
     
     
     
     
     
     
     
     
     
     $1,473,619Total Operating
     
     $ 775,358
     
     -
     
     $ 2,413,861
     
     $3,277Expenses
     
     
     
     
     
     
     
     
     
     $2,539,638Net Loss
     
     $ (775,358)
     
     -
     
     $ (2,413,861)
     
     $3,277
     
     $ (2,539,638)Loss per common share
     
     $ (0.009)
     
     -
     
     $ (0.02)
     
     -
     
     -(basic and fully diluted)Weighted average
     
     78,708,896
     
     -
     
     73,966,530
     
     -
     
     -common sharesoutstanding


Lack of Revenue

Since inception on January 19, 2006 until October 31, 2007 we have not yet earned any revenues. 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. The auditor's report on our fiscal year end financial statements contains an explanatory paragraph which identifies issues that raise substantial doubt about our ability to continue as a going concern. Our financial statements do not include any adjustment that might result from the outcome of this uncertainty.

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Expenses

From the period from inception on January 19, 2006 until October 31, 2007, our total operating expenses were $2,539,638. The major components of our expenses for this period consist of
$1,473,619 for mineral property and exploration costs and $1,066,019 for general and administrative costs which 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.

For the three months ended October 31, 2007 our total operating expenses were $775,358 compared to $nil for the three months ended October 31, 2006. The $775,358 of operating
expenses that we incurred for the three months ended October 31, 2007 consisted of the following: $391,968 on general and administrative expenses; $109,515 on exploration costs; and $273,875 on mineral property costs. For the nine months
ended October 31, 2007, our total operating costs were $2,413,861, which consisted of the following: $943,509 in general and administrative expenses; $173,696 in exploration costs; and $1,296,656 in mineral property costs. We
anticipate that our operating expenses will fluctuate from quarter to quarter depending on the level of our mineral property and exploration costs.

The mineral property and exploration costs are incurred because of our mineral properties, which costs are described in more detail above, under Item 2.

Net Losses

From January 19, 2006 (date of inception) to October 31, 2007, we incurred a net loss of $2,539,638. Our loss per share was nil for the period from January 19, 2006 (date of inception) to
October 31, 2007.

For the three months ended October 31, 2007 we incurred a net loss of $775,358 compared to a net loss of $nil for the three months ended October, 31, 2006. For the nine months ended
October 31, 2007 we incurred a net loss of $2,413,861 compared to a net loss of $3,277 for the same period in 2006. Our net loss per share was $0.010 for the three months ended October 31, 2007.

Our net loss to date is primarily due to a lack of revenue associated with increased operating expenses as described above. We expect to continue to incur losses for at least another two
years.

Liquidity and Capital Resources

As at October 31, 2007 we had cash of approximately $254,887 and a working capital surplus of approximately $1,167,912. As at October 31, 2007, we had total assets of $1,285,393. Our
accumulated deficit was $2,539,638 as at October 31, 2007.

Our net loss of $(2,539,638) from January 19, 2006 (date of inception) to October 31, 2007 was funded by a combination of private placements and loans. During the nine months ended October
31, 2007 we raised $3,261,825 from the sale of our common stock. The increase in cash during the nine months ended October 31, 2007 was $254,887.

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For the nine month period ended October 31, 2007, we used net cash of $2,045,718 in operating activities, and net cash of $961,220 in investing activities. We received net cash of
$3,261,825 from financing activities for the nine month period ended October 31, 2007. For the nine month period ended October 31, 2007 our monthly cash requirement was approximately $334,104. As of October 31, 2007, we had cash of
$254,887 which will cover our operating and investing costs for approximately 1 month according to our current monthly burn rate.

We expect that our total expenses will increase over the next year as we increase our business operations and seek additional mineral interests. We have not been able to reach the break-even
point since our inception on January 19, 2006 and have had to rely on outside capital resources. We do not anticipate making any revenues for the next year.

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 Firefly Property and the Wapata Lake Property, and start an exploration project on both our mineral concessions over the next 12 months beginning December 2007. In order to exercise our option on the Firefly Property, we must
incur exploration expenditures of $200,000 by May 30, 2008. In order to exercise our option on the Wapata Lake Property we must spend a minimum of $2,746,000 in exploration expenses over the next 12 months. In addition we anticipate spending
$1,000,000 on obtaining interests in other mineral concessions. We will also need approximately $550,000 in general and administrative expenses (including professional fees). Our total cash requirements for the next 12 months will be
approximately $5,296,000 less whatever cash or cash equivalents we have available to us (currently $254,887 as at October 31, 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 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.

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.

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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 our 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.

Critical Accounting Policies

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.

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 October 31, 2007,
being the date of our third 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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Pursuant to Section 404 of the Sarbanes-Oxley Act of 2002, under current SEC rules, we will be required to furnish a report by our management assessing the effectiveness of our internal controls over financial reporting beginning with our Annual Report on Form 10-KSB for our fiscal year ending January 31, 2008. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) provides a framework for companies to assess and improve their internal control systems. The Public Company Accounting Oversight Boards (PCAOB) Auditing Standard No. 5, adopted by the SEC on July 27, 2007, provides the professional standards and related performance guidance for auditors to report on the effectiveness of our internal controls over financial reporting under Section 404. Our assessment of internal controls over financial reporting requires us to make subjective judgments and, particularly because Standard No. 5 is newly effective, some of the judgments will be in areas that may be open to interpretation. We are currently performing the system and process documentation and evaluation needed to comply with Section 404.

During this process, if we identify one or more material weaknesses in our internal controls over financial reporting we will be unable to assert such internal control is effective. If we are unable to assert that our internal controls over financial reporting is effective as of January 31, 2008 (or if our auditors are unable to state that we have maintained, in all material respects, effective internal controls), we could lose investor confidence in the accuracy and completeness of our financial reports. That would likely have an adverse effect on our stock price.

We cannot be certain as to the timing of completion of our evaluation, testing and any required remediation due in large part to the fact that there is very little precedent available by which to measure compliance with the new Auditing Standard No. 5. If we are not able to complete our assessment under Section 404 in a timely manner, we would be unable to conclude that our internal controls over financial reporting are effective as of January 31, 2008.

In general, we are assessing the effectiveness of our internal controls over financial reporting on an account by account basis as a part of our on-going accounting and financial reporting review process in order to comply with Section 404 of the Sarbanes-Oxley Act of 2002, which requires our management to assess the effectiveness of our existing internal controls for our fiscal year ended January 31, 2008. This effort includes documenting, evaluating the design of and testing the effectiveness of our internal controls over financial reporting. We intend to continue to refine and improve our internal controls on an ongoing basis. During this process, we may identify additional items for review or deficiencies in our system of internal controls over financial reporting that may require strengthening or remediation.

There have been no changes in our internal controls over financial reporting during our third quarter that we believe have materially affected, or are reasonably likely to materially affect, our internal controls 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:

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|(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

- In August 2007 we issued an aggregate of 440,000 shares of common stock to one non- US investors in exchange for cash at $0.25 per share.
- In September 2007 we issued an aggregate of 370,000 shares of our common stock to non-US investors in exchange for cash at $0.25 per share. We also issued 60,000 shares of our common stock in exchange for services rendered to us in the last quarter.
- In October 2007 we issued 200 shares of our common stock to a non-US investor in order to settle a complaint that the investor had with us. The market value of the shares, as quoted on the OTC Bulletin Board, on the date of issuance was $1.20 per share.

Shares issued to any U.S. residents, 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.

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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 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 November 6, 2007 we entered into a management agreement with Clive Massey pursuant to which Mr. Massey agrees to act as our Vice President  Corporate Development in exchange
for remuneration of CDN$4,000 (US$4,066) per month. In addition, Mr. Massey is entitled to receive a bonus of up to 2,250,000 of our common shares upon the achievement of certain events, as agreed between the parties. The term of the
agreement is from November 6, 2007 until November 1, 2009 and the agreement is terminable by either party upon 14 days notice to the other.

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On November 30, 2007 we completed the purchase of 49 mineral permits located in the Province of Saskatchewan, Canada for a cash value of approximately $1,036,636 (CDN$1,050,000) and
3,000,000 common shares in our capital stock that was issued on February 8, 2007 at the fair market value of $0.10 per share. The purchase was completed pursuant to the Wapata Lake Uranium Property Option Agreement between which we entered into
with the Saskatchewan Syndicate and Mr. Timothy Young, first entered into on January 22, 2007, as amended on January 31, 2007 and September 10, 2007. The property is subject to a 3% net smelter return and a gross overriding royalty equal to 3% of
the average value of all gem and industrial diamonds recovered from the property, each payable to the Saskatchewan Syndicate. Although the final payment in respect of the option agreement was due by November 14, 2007, the parties instead scheduled
and completed the final transaction on November 30, 2007.

We have no material relationship with the Saskatchewan Syndicate, other than in respect of the material definitive agreement entered into. No finders fee was payable in relation to the
closing.

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ITEM 6. EXHIBITS

Exhibit Number
     
     Exhibit Description3.1
     
     Certificate (Articles) of Incorporation as filed with the Nevada Secretary of State on January 19, 2006 (1)3.2
     
     Bylaws (1)10.1
     
     Norman Meier Management Agreement(1)10.2
     
     Bruno Weiss Management Agreement(1)10.3
     
     Canaccord Capital Corporation Fee Agreement(1)10.4
     
     Hudson Capital Corp. Consulting Agreement(1)10.5
     
     Emil Summermatter Consulting Agreement(1)10.6
     
     Wapata Lake Agreement including the first and second addendum (1) (2)10.7
     
     Letter of Understanding with the Saskatchewan Syndicate10.8
     
     Firefly Agreement10.9
     
     Management Agreement Clive Massey31.1
     
     Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 200231.2
     
     Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 200232.1
     
     Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, asadopted pursuant to Section 906 of the Sarbanes-Oxley Act of 200232.2
     
     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.
|--- |  | -------------------------------------------------------------
|(2) |  | Included as exhibits on our Form 8K filed October 12, 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)                                
|                       
|Date: December 17, 2007 |  | /s/ Norman Meier                            
|                        |  | Norman Meier                                
|                        |  | Director, President, Chief Executive Officer

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