U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

                 Quarterly Report under Section 13 or 15 (d) of
                         Securities Exchange Act of 1934

                     For the Period ended September 30, 2007

                        Commission File Number 333-146263


                        TRES ESTRELLAS ENTERPRISES, INC.
                 (Name of small business issuer in its charter)

        Nevada                                                  20-8644177
(State of Incorporation)                                (IRS Employer ID Number)

                          3401 Adams Avenue, Suite 302
                            San Diego, CA 92116-2490
                                 (775) 352-3896
             (Address and Telephone Number of Registrant's Principal
               Executive Offices and Principal Place of Business)


                          3401 Adams Avenue, Suite 302
                            San Diego, CA 92116-2490
                            Telephone: (775)352-3896
                               Fax: (775) 996-8780
            (Name, Address and Telephone Number of Agent for Service)

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 [ ]

Check whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act). Yes [X] No [ ]

There were 5,500,000 shares of Common Stock outstanding as of September 30,
2007.
<PAGE>
ITEM 1. FINANCIAL STATEMENTS

                               GEORGE STEWART, CPA
                     2301 SOUTH JACKSON STREET, SUITE 101-G
                            SEATTLE, WASHINGTON 98144
                        (206) 328-8554 FAX (206) 328-0383


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and
Stockholders of Tres Estrellas Enterprises, Inc.

I have reviewed the condensed balance sheet of Tres Estrellas Enterprises,  Inc.
(A  Development  Stage  Company)  as of  September  30,  2007,  and the  related
condensed  statements of operations for the three months ended  September,  2007
and for the period from March 5, 2007  (inception)  to September  30, 2007,  and
condensed statements of cash flows for the three months ended September 30, 2007
and for the period from March 5, 2007  (inception) to September 30, 2007.  These
financial statements are the responsibility of the company's management.

I conducted my review in  accordance  with the  standards of the Public  Company
Accounting  Oversight  Board  (United  States).  A review of  interim  financial
information  consists  principally of applying analytical  procedures and making
inquiries of persons  responsible  for financial and accounting  matters.  It is
substantially less in scope than an audit conducted in accordance with standards
of the Public Company Accounting  Oversight Board (United States), the objective
of which is the  expression of an opinion  regarding  the  financial  statements
taken as a whole. Accordingly, I do not express such an opinion.

Based on my review, I am not aware of any material  modifications that should be
made  to  the  accompanying  interim  financial  statements  for  them  to be in
conformity with generally accepted accounting principles in the United States of
America.

I have previously  audited,  in accordance with auditing standards of the Public
Company  Accounting  Oversight Board (United States),  the balance sheet of Tres
Estrellas  Enterprises,  Inc. (A Development Stage Company) as of June 30, 2007,
and the related  statements of operations,  retained earnings and cash flows for
the year then ended (not  presented  herein);  and in my report dated August 19,
2007, I expressed a going concern opinion on those financial  statements.  In my
opinion,  the information set forth in the accompanying  condensed balance sheet
as of June 30, 2007, is fairly stated, in all material respects,  in relation to
the balance sheet from which it has been derived.



/s/ George Stewart, CPA
------------------------------
Seattle, Washington
October 30, 2007

                                       2
<PAGE>
                        TRES ESTRELLAS ENTERPRISES, INC.
                          (A Development Stage Company)
                                 Balance Sheets
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                      As of              As of
                                                                   September 30,        June 30,
                                                                       2007               2007
                                                                     --------           --------
<S>                                                                  <C>                <C>
                                     ASSETS

CURRENT ASSETS
  Cash                                                               $  5,924           $ 10,285
                                                                     --------           --------
TOTAL CURRENT ASSETS                                                    5,924             10,285

OTHER ASSETS
  Organization Costs                                                    1,970              1,970
                                                                     --------           --------
TOTAL OTHER ASSETS                                                      1,970              1,970

                                                                     $  7,894           $ 12,255
                                                                     ========           ========

              LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
  Loan from Director                                                    1,970              1,970
                                                                     --------           --------

TOTAL CURRENT LIABILITIES                                               1,970              1,970
                                                                     --------           --------
TOTAL LIABILITIES                                                       1,970              1,970

STOCKHOLDERS' EQUITY (DEFICIT)
  Common stock, ($0.001 par value, 75,000,000 shares
   authorized; 5,500,000 shares issued and outstanding
   as of September 30, 2007 and June 30, 2007 respectively)             5,500              5,500
  Additional paid-in capital                                            5,500              5,500
  Deficit accumulated during exploration stage                         (5,076)              (715)
                                                                     --------           --------
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                                    5,924             10,285
                                                                     --------           --------

      TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)             $  7,894           $ 12,255
                                                                     ========           ========
</TABLE>


                 See Accompanying Notes and Accountant's Report

                                       3
<PAGE>
                        TRES ESTRELLAS ENTERPRISES, INC.
                          (A Development Stage Company)
                            Statements of Operations
--------------------------------------------------------------------------------


                                                                  March 5, 2007
                                            Three Months            (inception)
                                               Ended                  through
                                            September 30,          September 30,
                                                2007                   2007
                                             ----------             ----------
REVENUES
  Revenues                                   $       --             $       --
                                             ----------             ----------
TOTAL REVENUES                                       --                     --

OPERATING COSTS
  Administrative Expenses                         4,361                  5,076
                                             ----------             ----------
TOTAL OPERATING COSTS                             4,361                  5,076
                                             ----------             ----------

NET INCOME (LOSS)                            $   (4,361)            $   (5,076)
                                             ==========             ==========

BASIC EARNINGS (LOSS) PER SHARE              $    (0.00)
                                             ==========
WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES OUTSTANDING                    5,500,000
                                             ==========


                 See Accompanying Notes and Accountant's Report

                                       4
<PAGE>
                        TRES ESTRELLAS ENTERPRISES, INC.
                          (A Development Stage Company)
                            Statements of Cash Flows
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                                        March 5, 2007
                                                                     Three Months        (inception)
                                                                        Ended              through
                                                                     September 30,      September 30,
                                                                         2007               2007
                                                                       --------           --------
<S>                                                                    <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                                                    $ (4,361)          $ (5,076)
  Adjustments to reconcile net loss to net cash
   provided by (used in) operating activities:

  Changes in operating assets and liabilities:
    (Increase) decrease in Organizational Costs                              --             (1,970)
    Increase (decrease) in Loan from Director                                --              1,970
                                                                       --------           --------
          NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES            (4,361)            (5,076)

CASH FLOWS FROM INVESTING ACTIVITIES
  Acquisition of equipment                                                   --                 --
                                                                       --------           --------
          NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES                --                 --

CASH FLOWS FROM FINANCING ACTIVITIES
  Issuance of common stock                                                   --              5,500
  Additional paid-in capital                                                 --              5,500
                                                                       --------           --------
          NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES                --             11,000
                                                                       --------           --------

NET INCREASE (DECREASE) IN CASH                                          (4,361)             5,924

CASH AT BEGINNING OF PERIOD                                              10,285                 --
                                                                       --------           --------

CASH AT END OF PERIOD                                                  $  5,924           $  5,924
                                                                       ========           ========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during year for:
  Interest                                                             $     --           $     --
                                                                       ========           ========
  Income Taxes                                                         $     --           $     --
                                                                       ========           ========
</TABLE>


                 See Accompanying Notes and Accountant's Report

                                       5
<PAGE>
Tres Estrellas Enterprises, Inc.
(A Development Stage Company)
Notes to Financial Statements
September 30, 2007
--------------------------------------------------------------------------------

1. ORGANIZATION

   Tres  Estrellas  Enterprises,  Inc. (the  "Company") is a Nevada  corporation
   incorporated  on March 5, 2007.  The Company is a  development  stage company
   that intends to utilize the latest  products and methods in pipe  restoration
   plumbing  contractor services for commercial and residential  buildings.  The
   latest products and methods in pipe  restoration  involve  cleaning  existing
   pipes in buildings  and  applying the latest epoxy  coatings to the inside of
   the pipes. These products and methods allow a building's pipes to be restored
   without  tearing out walls or pipes in the building.  To date,  the Company's
   activities  have been  limited  to its  formation  and the  raising of equity
   capital. The Company's fiscal year end is December 31.

   GOING CONCERN AND LIQUIDITY CONSIDERATIONS

   The accompanying  financial  statements have been prepared  assuming that the
   Company will continue as a going  concern,  which  contemplates,  among other
   things,  the  realization  of assets and  satisfaction  of liabilities in the
   normal course of business.  As at September 30, 2007,  the Company had a loss
   from operations of $5,076,  stockholders'  equity of $5,924 and has earned no
   revenues since  inception.  The Company  intends to fund  operations  through
   equity financing arrangements,  which may be insufficient to fund its capital
   expenditures, working capital and other cash requirements for the year ending
   December 31, 2007.

   The ability of the Company to emerge from the development  stage is dependent
   upon,  among  other  things,   obtaining  additional  financing  to  continue
   operations, and development of its business plan.

   In response to these problems,  management  intends to raise additional funds
   through public or private placement offerings.

   These  factors,  among others,  raise  substantial  doubt about the Company's
   ability to continue as a going concern. The accompanying financial statements
   do not include  any  adjustments  that might  result from the outcome of this
   uncertainty.

2. SIGNIFICANT ACCOUNTING POLICIES

   A) BASIS OF PRESENTATION

   The  accounting  and  reporting  policies  of the  Company  conform  to  U.S.
   generally accepted accounting  principles (US GAAP) applicable to development
   stage companies.

   B) 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  amount of  revenues  and  expenses  during the
   reporting period. Actual results could differ from those estimates.

                                       6
<PAGE>
Tres Estrellas Enterprises, Inc.
(A Development Stage Company)
Notes to Financial Statements
September 30, 2007
--------------------------------------------------------------------------------

2. SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

   C) CASH AND CASH EQUIVALENTS

   Cash and cash  equivalents  include cash in banks,  money market  funds,  and
   certificates  of term deposits with maturities of less than three months from
   inception,  which are readily convertible to known amounts of cash and which,
   in the opinion of management, are subject to an insignificant risk of loss in
   value.

   D) FAIR VALUE OF FINANCIAL INSTRUMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS

   The Company has adopted Statement of Financial  Accounting Standards ("SFAS")
   Number 119, "Disclosure About Derivative Financial Instruments and Fair Value
   of  Financial  Instruments."  The  carrying  amount  of  accrued  liabilities
   approximates  its fair  value  because  of the short  maturity  of this item.
   Certain fair value estimates may be subject to and involve, uncertainties and
   matters of significant  judgment,  and, therefore,  cannot be determined with
   precision. Changes in assumptions could significantly affect these estimates.
   The  Company  does  not  hold or  issue  financial  instruments  for  trading
   purposes, nor does it utilize derivative instruments in the management of its
   foreign exchange, commodity price or interest rate market risks.

   E) SEGMENTED REPORTING

   SFAS Number 131,  "Disclosure  About  Segments of an  Enterprise  and Related
   Information",  changed  the way public  companies  report  information  about
   segments of their business in their quarterly reports issued to shareholders.
   It also requires  entity-wide  disclosures about the products and services an
   entity provides,  the material countries in which it holds assets and reports
   revenues and its major customers.

   F) FEDERAL INCOME TAXES

   Deferred  income taxes are reported for timing  differences  between items of
   income or expense reported in the financial statements and those reported for
   income tax  purposes in  accordance  with SFAS Number  109,  "Accounting  for
   Income  Taxes",  which  requires  the use of the  asset/liability  method  of
   accounting  for income  taxes.  Deferred  income  taxes and tax  benefits are
   recognized  for the  future  tax  consequences  attributable  to  differences
   between the  financial  statement  carrying  amounts of  existing  assets and
   liabilities  and their  respective  tax  bases,  and for tax loss and  credit
   carryforwards. Deferred tax assets and liabilities are measured using enacted
   tax rates  expected  to apply to taxable  income in the years in which  those
   temporary  differences  are expected to be recovered or settled.  The Company
   provides for deferred taxes for the estimated future tax effects attributable
   to temporary  differences and  carryforwards  when realization is more likely
   than not.

                                       7
<PAGE>
Tres Estrellas Enterprises, Inc.
(A Development Stage Company)
Notes to Financial Statements
September 30, 2007
--------------------------------------------------------------------------------

2. SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

   G) EARNINGS (LOSS) PER SHARE

   The  Company  has  adopted  Financial  Accounting  Standards  Board  ("FASB")
   Statement   Number  128,   "Earnings  per  Share,"   ("EPS")  which  requires
   presentation of basic and diluted EPS on the face of the income statement for
   all entities with complex capital structures and requires a reconciliation of
   the numerator and  denominator of the basic EPS  computation to the numerator
   and denominator of the diluted EPS computation. In the accompanying financial
   statements,  basic  earnings  (loss) per share is computed  by  dividing  net
   income/loss  by the  weighted  average  number  of  shares  of  common  stock
   outstanding during the period.

   H) STOCK-BASED COMPENSATION

   The Company  adopted the  provisions  of Statement  of  Financial  Accounting
   Standards  ("SFAS") No.  123(R),  "Share-Based  Payment",  which  establishes
   accounting for equity instruments exchanged for employee services.  Under the
   provisions of SFAS 123(R),  stock-based  compensation cost is measured at the
   grant  date,  based  on  the  calculated  fair  value  of the  award,  and is
   recognized  as an  expense  over  the  employees'  requisite  service  period
   (generally the vesting period of the equity grant).  The Company accounts for
   share-based  payments  to  non-employees,  in  accordance  with  SFAS 123 (as
   originally   issued)  and  Emerging   Issues  Task  Force  Issue  No.  96-18,
   "Accounting  for Equity  Instruments  That Are Issued to Other Than Employees
   for Acquiring,  or in Conjunction with Selling,  Goods or Services".  For the
   period  ended  September  30, 2007 the  Company did not have any  stock-based
   compensation.

   I) REVENUE RECOGNITION

   The Company  recognizes  revenue  from the sale of products  and  services in
   accordance with Securities and Exchange  Commission Staff Accounting Bulletin
   No. 104 ("SAB 104"),  "Revenue Recognition in Financial  Statements." Revenue
   will consist of services  income and will be recognized  only when all of the
   following criteria have been met:

     (i)  Persuasive   evidence  for  an  agreement  exists;
     (ii) Service has occurred;
     (iii)The fee is  fixed or  determinable;  and
     (iv) Revenue is reasonably assured.

                                       8
<PAGE>
Tres Estrellas Enterprises, Inc.
(A Development Stage Company)
Notes to Financial Statements
September 30, 2007
--------------------------------------------------------------------------------

3. CAPITAL STOCK

   A) AUTHORIZED STOCK

   The Company has  authorized  75,000,000  common shares with $0.001 par value.
   Each common share entitles the holder to one vote, in person or proxy, on any
   matter on which action of the stockholder of the corporation is sought.

   B) SHARE ISSUANCES

   Since  inception  (March 5, 2006),  to September  30,  2007,  the Company has
   issued a total of  5,500,000  common  stock  shares to the sole  officer  and
   director at $0.002 per share for a total of $11,000.

4. INCOME TAXES

   The company has incurred  operating  losses of $5,076,  which, if unutilized,
   will  begin to  expire in 2027.  Future  tax  benefits,  which may arise as a
   result  of  these  losses,  have  not  been  recognized  in  these  financial
   statements, and have been off set by a valuation allowance.

   Details of future income tax assets are as follows:

                                                                      2007
                                                                    -------
     Future income tax assets:
       Net  operating  loss (from inception (March 5, 2007
       to September 30, 2007)                                       $ 5,076
       Statutory tax rate (combined federal and state)                   34%
                                                                    -------
       Non-capital tax loss                                           1,726
       Valuation allowance                                           (1,726)
                                                                    -------
                                                                    $    --
                                                                    =======


   The potential future tax benefits of these losses have not been recognized in
   these financial statements due to uncertainty of their realization.  When the
   future  utilization of some portion of the carryforwards is determined not to
   be "more  likely than not," a valuation  allowance  is provided to reduce the
   recorded tax benefits from such assets.

5. NEW ACCOUNTING PRONOUNCEMENTS

   Recent  accounting  pronouncements  that are listed  below did and/or are not
   currently  expected  to have a  material  effect on the  Company's  financial
   statements.

                                       9
<PAGE>
Tres Estrellas Enterprises, Inc.
(A Development Stage Company)
Notes to Financial Statements
September 30, 2007
--------------------------------------------------------------------------------

5. NEW ACCOUNTING PRONOUNCEMENTS - CONTINUED

   FASB STATEMENTS:

   In December  2004,  the FASB issued  Financial  Accounting  Standards  No 123
   (revised  2004) (SFAS 123R),  "Share-Based  Payment." SFAS 123R replaces SFAS
   No. 123,  "Accounting  for  Stock-Based  Compensation,"  and  supersedes  APB
   Opinion  No.  25,  "Accounting  for  Stock  Issued to  Employees."  SFAS 123R
   requires compensation expense,  measured as the fair value at the grant date,
   related to share-based payment transactions to be recognized in the financial
   statements over the period that an employee  provides service in exchange for
   the award. SFAS 123R is effective in fiscal periods that begin after December
   15, 2005.

   In  December  2004,  FASB  issued  Financial  Accounting  Standards  No. 153,
   "Exchanges  of  Non-monetary  Assets,  an  amendment  of APB  Opinion No. 29,
   Accounting for Non-Monetary  Transactions  (SFAS 153)." This statement amends
   APB Opinion 29 to  eliminate  the  exception  for  non-monetary  exchanges of
   similar  productive  assets  and  replaces  it with a general  exception  for
   exchanges of non-monetary assets that do not have commercial substance. Under
   SFAS 153, if a  non-monetary  exchange of similar  productive  assets meets a
   commercial-substance   criterion   and  fair  value  is   determinable,   the
   transaction  must be accounted for at fair value  resulting in recognition of
   any gain or loss.  SFAS 153 is effective  in fiscal  periods that begin after
   June 15, 2005.

   In May 2005,  the FASB  issued SFAS No.  154,  "Accounting  Changes and Error
   Corrections,  a replacement  of APB Opinion No. 20 and FASB Statement No. 3."
   This statement  changes the requirements for the accounting for and reporting
   of a change in  accounting  principle.  Previously,  Opinion 20 required that
   most voluntary changes in accounting  principle be recognized by including in
   net income of the period of change the cumulative effect of changing to a new
   principle.   This  statement  requires  retrospective  application  to  prior
   periods'  financial  statements  of changes  in  accounting  principle,  when
   practicable.

   In  February  2006,  FASB  issued  Financial  Accounting  Standards  No. 155,
   "Accounting for Certain Hybrid  Financial  Instruments - an amendment of FASB
   Statements  No. 133 and 140. This Statement  amends FASB  Statements No. 133,
   Accounting for Derivative  Instruments and Hedging  Activities,  and No. 140,
   Accounting   for   Transfers   and   Servicing   of   Financial   Assets  and
   Extinguishments  of Liabilities.  This Statement resolves issues addressed in
   Statement 133 Implementation  Issue No. D1,  "Application of Statement 133 to
   Beneficial Interests in Securitized  Financial Assets." SFAS 155 is effective
   for all  financial  instruments  acquired or issued after the beginning of an
   entity's first fiscal year that begins after September 15, 2006.

   In  March  2006,  FASB  issued  Financial   Accounting   Standards  No.  156,
   "Accounting  for  Servicing  of  Financial  Assets  - an  amendment  of  FASB
   Statement No. 140." This Statement amends FASB Statement No. 140,  Accounting
   for  Transfers  and  Servicing of  Financial  Assets and  Extinguishments  of
   Liabilities,  with  respect  to  the  accounting  for  separately  recognized
   servicing  assets and  servicing  liabilities.  SFAS 156 is  effective in the
   first fiscal year that begins after September 15, 2006.

                                       10
<PAGE>
Tres Estrellas Enterprises, Inc.
(A Development Stage Company)
Notes to Financial Statements
September 30, 2007
--------------------------------------------------------------------------------

5. NEW ACCOUNTING PRONOUNCEMENTS - CONTINUED

   In September 2006, FASB issued Financial  Accounting Standards No. 157, "Fair
   Value  Measurements."  This  Statement  defines  fair  value,  establishes  a
   framework  for  measuring  fair  value  in  generally   accepted   accounting
   principles  (GAAP),  and expands  disclosures about fair value  measurements.
   This Statement applies under other accounting  pronouncements that require or
   permit fair value  measurements,  the Board  having  previously  concluded in
   those accounting  pronouncements that fair value is the relevant  measurement
   attribute.  Accordingly,  this  Statement does not require any new fair value
   measurements.  However, for some entities,  the application of this Statement
   will change current practice.  SFAS 157 is effective in the first fiscal year
   that begins after November 15, 2007.

   In  September  2006,  FASB issued  Financial  Accounting  Standards  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 improves financial  reporting by requiring an employer 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 improves financial  reporting by requiring
   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.  SFAS 158
   is effective.  An employer with publicly traded equity securities is required
   to initially recognize the funded status of a defined benefit  postretirement
   plan and to  provide  the  required  disclosures  as of the end of the  first
   fiscal year ending after December 15, 2006.

   In February 2007, FASB issued  Financial  Accounting  Standards 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. The objective is to improve financial  reporting by providing entities
   with the  opportunity to mitigate  volatility in reported  earnings caused by
   measuring related assets and liabilities  differently without having to apply
   complex hedge accounting provisions. This Statement is expected to expand the
   use of fair value measurement, which is consistent with the Board's long-term
   measurement objectives for accounting for financial instruments.  SFAS 159 is
   effective as of the  beginning  of an entity's  first fiscal year that begins
   after November 15, 2007.

6. RELATED PARTY TRANSACTIONS

   Jose Chavez, the sole officer and director of the Company may, in the future,
   become  involved in other business  opportunities  as they become  available,
   thus he may face a conflict  in  selecting  between the Company and his other
   business  opportunities.  The  company  has not  formulated  a policy for the
   resolution of such conflicts.

   Jose Chavez,  the sole officer and director of the Company,  will not be paid
   for any underwriting  services that he performs on behalf of the Company with
   respect to the Company's SB-2 offering. He will also not receive any interest

                                       11
<PAGE>
Tres Estrellas Enterprises, Inc.
(A Development Stage Company)
Notes to Financial Statements
September 30, 2007
--------------------------------------------------------------------------------

6. RELATED PARTY TRANSACTIONS - CONTINUED

   on any funds that he advances to the Company for offering  expenses  prior to
   the  offering  being  closed  which will be repaid  from the  proceeds of the
   offering.

   While the company is seeking  additional  capital,  Mr.  Chavez has  advanced
   funds to the  company to pay for any costs  incurred  by it.  These funds are
   interest free. The balance due Mr. Chavez was $ 1,970 on September 30, 2007.

7. SUBSEQUENT EVENT

   On October 9, 2007 the company's SB-2  Registration  Statement filed with the
   U.S.  Securities  and  Exchange   Commission  was  declared  effective.   The
   Registration  Statement registers 6,000,000 common stock shares to be sold at
   a price per  share of $0.004 to raise  $24,000  to  implement  the  company's
   business  plan.  The  offering  was  completed  on October 15,  2007  selling
   6,000,000 shares to 40 un-affiliated investors for total proceeds of $24,000.

                                       12
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

RESULTS OF OPERATIONS

We are a development stage company and have generated no revenue to date.

We incurred operating expenses of $4,361 for the three-month period ended
September 30, 2007. These expenses consisted of general and administrative
expenses and costs associated with the filing of our SB-2 Registration
Statement.

Our cash at September 30, 2007 was $5,924. We had liabilities of $1,970 as of
September 30, 2007, consisting of a loan payable to our director. The loan is
interest free with no specific terms of repayment.

Cash provided by financing activities from inception though September 30, 2007,
was $11,000. These funds consisted of $11,000 from the sale of our common stock
to our director, Jose Chavez, who purchased 5,000,000 shares of common stock at
$.002 per share on April 3, 2007.

Subsequent to our September 30, 2007, we completed our offering of 6,000,000
shares pursuant to an SB-2 registration statement which was declared effective
on October 9, 2007. The offering was completed and closed on October 15, 2007
for total proceeds of $24,000.

Our auditors have expressed their doubt about our ability to continue as a going
concern unless we are able to generate profitable operations.

LIQUIDITY AND CAPITAL RESOURCES

Our cash balance at September 30, 2007 was $5,924. Our business plan
requirements were based on our ability to complete our offering to raise
$24,000, which we were able to do. The offering was completed on October 15,
2007. We intend to begin paying our director a salary of $400 per month in
November 2007.

OFF-BALANCE SHEET ARRANGEMENTS

We do not have any off-balance sheet arrangements that have or are reasonably
likely to have a current or future effect on our financial condition, changes in
financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources that is material to investors.

PLAN OF OPERATION

We have generated no revenues since inception and have incurred $5,076 in
expenses as of September 30, 2007.

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<PAGE>
The following table provides selected financial data about our company for the
period from the date of incorporation through September 30, 2007.

                      Balance Sheet Data:          9/30/07
                      -------------------          -------

                      Cash                          $5,924
                      Total assets                  $7,894
                      Total liabilities             $1,970
                      Shareholders' equity          $5,924

Other than the 6,000,000 shares offered pursuant to our registration statement,
no other source of capital has been identified or sought. Our director has
verbally agreed to loan the company funds to continue operations, if necessary,
prior to generating revenues from operations, but there is no formal commitment,
arrangement or legal obligation requiring him to advance or loan funds to us.

PLAN OF OPERATION:

The following milestones are estimates from our director. They are estimates
only. The number of employees, initial expenses, and other projected business
milestones are approximations only, and are subject to adjustments based upon
the requirements of the business and costs of those requirements. We intend to
execute the following portions of our business plan over a twelve month period:

INITIAL TWO MONTHS:

During this period of our operations, we intend to begin by registering our
securities with the Securities and Exchange Commission so that we may make our
offering to the public in the amount of $24,000. Our director will begin his
marketing plans, determine office furniture and equipment needs, and look for
office space. We intend to incur costs and expenses solely for paying our
director a monthly salary beginning in November 2007. Our costs and expenses of
operations for this period are estimated to be a total of $400.

MONTHS THREE THROUGH SIX:

During this period of our operations, we intend to continue developing our
marketing plan, begin renting office space, begin paying for telephone and
utilities, hire an office assistant, purchase furniture and equipment, begin
paying for an Internet web page development, begin marketing and advertising,
and pay our director a salary. Our costs and expenses of operations for this
period are estimated to be: Rent - $200 per month, Utilities & Telephone - $100
per month, Office Assistant - $200 per month, Furniture & Equipment - $3,800,
Internet Web Page - $500, Marketing & Advertising - $500, Director Salary - $400
per month. Our costs and expenses of operations for this period are estimated to
be a total of $7,200.

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<PAGE>
MONTHS SEVEN THROUGH NINE:

During this period of our operations, we intend to continue renting office
space, continue paying for telephone and utilities, continue paying for an
office assistant, hire two plumbers, continue paying for an Internet web page
development, continue marketing and advertising, and pay our director a salary.
Our costs and expenses of operations for this period are estimated to be: Rent -
$200 per month, Utilities & Telephone - $100 per month, Office Assistant - $200
per month, Two Plumber Salaries - $1,000 per month, Internet Web Page - $500 per
month, Marketing & Advertising - $500 per month, Director Salary - $400 per
month. Our costs and expenses of operations for this period are estimated to be
a total of $7,700.

MONTHS TEN THROUGH TWELVE:

During this period of our operations, we intend to continue renting office
space, continue paying for telephone and utilities, continue paying for an
office assistant, continue paying for two plumbers, continue paying for Internet
web page costs, continue marketing and advertising, and pay our director a
salary. Our costs and expenses of operations for this period are estimated to
be: Rent - $200 per month, Utilities & Telephone - $100 per month, Office
Assistant - $200 per month, Two Plumber Salaries - $1,000 per month, Internet
Web Page - $500 per month, Marketing & Advertising - $500 per month, Director
Salary - $400 per month. Our costs and expenses of operations for this period
are estimated to be a total of $8,700.

SIGNIFICANT ACCOUNTING POLICIES

The un-audited financial statements as of September 30, 2007 included herein
have been prepared without audit pursuant to the rules and regulations of the
U.S. Securities and Exchange Commission. Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with general accepted accounting procedures have been condensed or omitted
pursuant to such rules and regulations. In the opinion of management, all
adjustments (consisting of normal recurring accruals) considered necessary for a
fair presentation have been included. It is suggested that these financial
statements be read in conjunction with our June 30, 2007 audited financial
statements and notes thereto, which can be found in our Form SB-2 Registration
Statement on the SEC website at www.sec.gov under our SEC File Number
333-146263.

Our Management's Discussion and Analysis of Financial Condition and Results of
Operations section discusses our financial statements, which have been prepared
in accordance with accounting principles generally accepted in the United States
of America. The preparation of the financial statements requires management to
make estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the reporting period. Actual results may differ
from these estimates.

                                       15
<PAGE>
A) BASIS OF PRESENTATION

The accounting and reporting policies of the Company conform to U.S. generally
accepted accounting principles (US GAAP) applicable to development stage
companies.

B) 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 amount of revenues and expenses during the reporting
period. Actual results could differ from those estimates.

C) CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in banks, money market funds, and
certificates of term deposits with maturities of less than three months from
inception, which are readily convertible to known amounts of cash and which, in
the opinion of management, are subject to an insignificant risk of loss in
value.

D) FAIR VALUE OF FINANCIAL INSTRUMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS

The Company has adopted Statement of Financial Accounting Standards ("SFAS")
Number 119, "Disclosure About Derivative Financial Instruments and Fair Value of
Financial Instruments." The carrying amount of accrued liabilities approximates
its fair value because of the short maturity of this item. Certain fair value
estimates may be subject to and involve, uncertainties and matters of
significant judgment, and, therefore, cannot be determined with precision.
Changes in assumptions could significantly affect these estimates. The Company
does not hold or issue financial instruments for trading purposes, nor does it
utilize derivative instruments in the management of its foreign exchange,
commodity price or interest rate market risks.

E) SEGMENTED REPORTING

SFAS Number 131, "Disclosure About Segments of an Enterprise and Related
Information", changed the way public companies report information about segments
of their business in their quarterly reports issued to shareholders. It also
requires entity-wide disclosures about the products and services an entity
provides, the material countries in which it holds assets and reports revenues
and its major customers.

F) FEDERAL INCOME TAXES

Deferred income taxes are reported for timing differences between items of
income or expense reported in the financial statements and those reported for
income tax purposes in accordance with SFAS Number 109, "Accounting for Income
Taxes", which requires the use of the asset/liability method of accounting for
income taxes. Deferred income taxes and tax benefits are recognized for the
future tax consequences attributable to differences between the financial

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<PAGE>
statement carrying amounts of existing assets and liabilities and their
respective tax bases, and for tax loss and credit carryforwards. Deferred tax
assets and liabilities are measured using enacted tax rates expected to apply to
taxable income in the years in which those temporary differences are expected to
be recovered or settled. The Company provides for deferred taxes for the
estimated future tax effects attributable to temporary differences and
carryforwards when realization is more likely than not.

G) EARNINGS (LOSS) PER SHARE

The Company has adopted Financial Accounting Standards Board ("FASB") Statement
Number 128, "Earnings per Share," ("EPS") which requires presentation of basic
and diluted EPS on the face of the income statement for all entities with
complex capital structures and requires a reconciliation of the numerator and
denominator of the basic EPS computation to the numerator and denominator of the
diluted EPS computation. In the accompanying financial statements, basic
earnings (loss) per share is computed by dividing net income/loss by the
weighted average number of shares of common stock outstanding during the period.

H) STOCK-BASED COMPENSATION

The Company adopted the provisions of Statement of Financial Accounting
Standards ("SFAS") No. 123(R), "Share-Based Payment", which establishes
accounting for equity instruments exchanged for employee services. Under the
provisions of SFAS 123(R), stock-based compensation cost is measured at the
grant date, based on the calculated fair value of the award, and is recognized
as an expense over the employees' requisite service period (generally the
vesting period of the equity grant). The Company accounts for share-based
payments to non-employees, in accordance with SFAS 123 (as originally issued)
and Emerging Issues Task Force Issue No. 96-18, "Accounting for Equity
Instruments That Are Issued to Other Than Employees for Acquiring, or in
Conjunction with Selling, Goods or Services". For the period ended September 30,
2007 the Company did not have any stock-based compensation.

I) REVENUE RECOGNITION

The Company recognizes revenue from the sale of products and services in
accordance with Securities and Exchange Commission Staff Accounting Bulletin No.
104 ("SAB 104"), "Revenue Recognition in Financial Statements." Revenue will
consist of services income and will be recognized only when all of the following
criteria have been met:

     a.   Persuasive evidence for an agreement exists;
     b.   Service has occurred;
     c.   The fee is fixed or determinable; and
     d.   Revenue is reasonably assured.

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<PAGE>
ITEM 3. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Under the supervision and with the participation of our management, including
our principal executive officer and the principal financial officer, we have
conducted an evaluation of the effectiveness of the design and operation of our
disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities and Exchange Act of 1934, as of the end of the period
covered by this report. Based on this evaluation, our principal executive
officer and principal financial officer concluded as of the evaluation date that
our disclosure controls and procedures were effective such that the material
information required to be included in our Securities and Exchange Commission
reports is recorded, processed, summarized and reported within the time periods
specified in SEC rules and forms relating to our company, particularly during
the period when this report was being prepared.

Additionally, there were no significant changes in our internal controls or in
other factors that could significantly affect these controls subsequent to the
evaluation date. We have not identified any significant deficiencies or material
weaknesses in our internal controls, and therefore there were no corrective
actions taken.

                           PART II - OTHER INFORMATION

ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing. Those marked
with an asterisk and required to be filed hereunder, are incorporated by
reference and can be found in our Form SB-2 Registration Statement, filed under
SEC File Number 333-146263, at the SEC website at www.sec.gov:

Exhibit No.                      Description
-----------                      -----------

    3.1        Articles of Incorporation*
    3.2        Bylaws*
   31.1        Sec. 302 Certification of Chief Executive Officer
   31.2        Sec. 302 Certification of Chief Financial Officer
   32.1        Sec. 906 Certification of Chief Executive Officer
   32.2        Sec. 906 Certification of Chief Financial Officer

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<PAGE>
                                   SIGNATURES

Pursuant to the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned on November 5, 2007, thereunto duly authorized.


By: /s/ Jose Chavez
   --------------------------------------------------------
   JOSE CHAVEZ
   President, Chief Executive Officer,
   and Chairman of the Board of Directors


By: /s/ Jose Chavez
   --------------------------------------------------------
   JOSE CHAVEZ
   Chief Financial Officer and Principal Accounting Officer

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