UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-Q   (Mark One)  SQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the quarterly period ended June 30, 2008. or  £TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the transition period from _______________________  to  ___________________________  Commission File Number:  000-52637  R NEW VENTURES, INC. (Exact name of registrant as specified in its charter)  Nevada20-5108971(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)374 East 400 South, Suite 3, Springville, Utah84663(Address of principal executive offices)(Zip Code)  (801) 358-5094 (Registrants telephone number, including area code)  159 South 975 West, Mapleton, Utah 84664 (Former name, former address and former fiscal year, if changed since last report)  Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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. S  Yes  £  No  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.  Large accelerated filer £ Accelerated filer £  Non-accelerated filer £  (Do not check if a smaller reporting company) Smaller reporting company S  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). SYes£No  Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of June 30, 2008:  11,700,000     R NEW VENTURES, INC. [A Development Stage Company]  Quarterly Report on Form 10-Q For the Period Ended June 30, 2008   TABLE OF CONTENTS PagePART I.Financial Information3Item 1.Unaudited Condensed Financial Statements3Unaudited Condensed Balance Sheets  June 30, 2008 and December 31, 20075Unaudited Condensed Statements of Operations for the three and six months ended June 30, 2008 and 2007, and from inception on June 23, 2006 through June 30, 20086Unaudited Condensed Statements of Cash Flows for the six months ended June 30, 2008 and 2007, and from inception on June 23, 2006 through June 30, 20087Notes to Unaudited Condensed Financial Statements8Item 2.Managements Discussion and Analysis of Financial Condition and Results of Operations9Item 3.Quantitative and Qualitative Disclosures About Market Risk.10Item 4T.Controls and procedures11PART II.Other Information11Item 1.Legal Proceedings.11Item 2.Unregistered Sales of Equity Securities and Use of Proceeds.11Item 3.Defaults Upon Senior Securities.11Item 4.Submission of Matters to a Vote of Security Holders.11Item 5.Other Information.11Item 6.Exhibits11Signatures12  2     R NEW VENTURES, INC. [A Development Stage Company]  UNAUDITED CONDENSED FINANCIAL STATEMENTS  JUNE 30, 2008     3   R NEW VENTURES, INC. [A Development Stage Company]     CONTENTS  PAGE   - Unaudited Condensed Balance Sheets, June 30, 2008 and December 31, 2007 5   - Unaudited Condensed Statements of Operations, for the three and six months ended June 30, 2008 and 2007, and from inception on June 23, 2006 through June 30, 2008 6   - Unaudited Condensed Statements of Cash Flows, for the six months ended June 30, 2008 and 2007, and from inception on June 23, 2006 through June 30, 2008 7   - Notes to Unaudited Condensed Financial Statements 8  4   R NEW VENTURES, INC. [A Development Stage Company]  UNAUDITED CONDENSED BALANCE SHEETS  ASSETSJune 30,December 31,20082007CURRENT ASSETS:Cash$1,987$1,624Total Current Assets1,9871,624Total Assets$1,987$1,624LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)CURRENT LIABILITIES:Accounts payable  related party$175$-Stockholder loans6,000-Total Current Liabilities6,175-STOCKHOLDERS' EQUITY (DEFICIT):Preferred stock, $0.001 par value,5,000,000 shares authorized,no shares issued and outstanding--Common stock, $0.001 par value,100,000,000 shares authorized, 11,700,000 and11,700,000 shares issued and outstanding, respectively11,70011,700Capital in excess of par value106-Deficit accumulated during thedevelopment stage(15,994)(10,076)Total Stockholders' Equity (Deficit)(4,188)1,624Total Liabilities and Stockholders Equity (Deficit)$1,987$1,624  Note: The balance sheet at December 31, 2007 was taken from the audited financial statements at that date and condensed.  The accompanying notes are an integral part of these unaudited condensed financial statements.  5   R NEW VENTURES, INC. [A Development Stage Company]  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS  FromInception onFor the ThreeFor the SixJune 23, 2006Months EndedMonths EndedThroughJune 30,June 30,June 30,20082007200820072008REVENUE$-$-$-$-$-OPERATING EXPENSES:Professional fees1,3413,1345,6603,38415,346Other general and admini-
strative expenses175-175-873Total Operating Expenses1,5163,1345,8353,38416,219LOSS BEFORE OTHER INCOME (EXPENSE)(1,516)(3,134)(5,835)(3,384)(16,219)OTHER INCOME (EXPENSE):Interest expense  related party(90)-(106)-(106)Interest income135323103331Total Other Income (Expense)(77)53(83)103225LOSS BEFORE INCOME TAXES(1,593)(3,081)(5,918)(3,281)(15,994)CURRENT TAX EXPENSE-----DEFERRED TAX EXPENSE-----NET LOSS$(1,593)$(3,081)$(5,918)$(3,281)$(15,994)BASIC AND DILUTED LOSSPER COMMON SHARE:$(0.00)$(0.00)$(0.00)$(0.00)WEIGHTED AVERAGEOUTSTANDING SHARES11,700,00011,700,00011,700,00010,924,586  The accompanying notes are an integral part of these unaudited condensed financial statements.   6   R NEW VENTURES, INC. [A Development Stage Company]  UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS  FromInception onFor the SixJune 23, 2006Months EndedthroughJune 30,June 30,200820072008Cash Flows from Operating Activities:Net loss$(5,918)$(3,281)$(15,994)Adjustments to reconcile net loss to net cashprovided (used) by operating activities:Imputed interest expense106-106Changes in assets and liabilities:Increase (decrease) in accounts payable  related party175-175Net Cash Provided (Used) by Operating Activities(5,637)(3,281)(15,713)Cash Flows from Investing Activities---Net Cash (Used) by Investing Activities---Cash Flows from Financing Activities:Stockholder loans6,000-6,425Payment of stockholder loans--(425)Proceeds from common stock issuances-1,70011,700Net Cash Provided by Financing Activities6,0001,70017,700Net Increase (Decrease) in Cash363(1,581)1,987Cash at Beginning of Period1,6245,227-Cash at End of Period$1,987$3,646$1,987Supplemental Disclosures of Cash Flow Information:Cash paid during the period for:Interest$-$-$-Income taxes$-$-$-  Supplemental Schedule of Noncash Investing and Financing Activities: For the six months ended June 30, 2008: None  For the six months ended June 30, 2007: None  The accompanying notes are an integral part of these unaudited condensed financial statements.  7   R NEW VENTURES, INC. [A Development Stage Company]  NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS  NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  Condensed Financial Statements -The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at June 30, 2008 and 2007 and for the periods then ended have been made.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys December 31, 2007 audited financial statements.  The results of operations for the periods ended June 30, 2008 and 2007 are not necessarily indicative of the operating results for the full year.  NOTE 2 - GOING CONCERN  The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern.  However, the Company has a working capital deficit of $4,188 as of June 30, 2008, has incurred losses since inception, has negative cash flows from operating activities, and has no revenue-generating activities.  These factors raise substantial doubt about the ability of the Company to continue as a going concern.  In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of common stock.  There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations.  The financial statements do not include any adjustments that might result from the outcome of these uncertainties.  NOTE 3  RELATED PARTY TRANSACTIONS  Stockholder Loans  In January and April 2008, a stockholder of the Company loaned $1,000 and $5,000, respectively, to the Company.  The loans are non-interest bearing and due on demand.  The Company is imputing interest at 8% on the loans, which is accounted for as a capital contribution. Interest expense for the six months ended June 30, 2008 and 2007, respectively, is $106 and $0.  At June 30, 2008, the Company owed the stockholder $6,000.  NOTE 4 - INCOME TAXES  The Company has available at June 30, 2008, net operating loss carryforwards of approximately $16,000 which may be applied against future taxable income and which expire in 2026, 2027 and 2028.  The net deferred tax assets are approximately $2,400 and $1,510 as of June 30, 2008 and December 31, 2007, respectively, with an offsetting valuation allowance of the same amount.  The change in the valuation allowance for the six-month period ended June 30, 2008 is approximately $890.   8   Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations  Throughout  this Quarterly  Report on Form 10-Q, the terms "we," "us," "our" and "Company" refers to R New Ventures, Inc.  Introductory Comment  Forward-Looking Statements  Statements contained in this report include "forward-looking statements" within the meaning of such term in Section 27A of the Securities Act of 1933, as amended (the Securities Act) and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements involve known and unknown risks, uncertainties and other factors, which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized. Such forward-looking statements generally are based on our best estimates of future results, performances or achievements, predicated upon current conditions and the most recent results of the companies involved and their respective industries. Forward-looking statements may be identified by the use of forward-looking terminology such as "may," "can," "will," "could," "should," "project," "expect," "plan," "predict," "believe," "estimate," "aim," "anticipate," "intend," "continue," "potential," "opportunity" or similar terms, variations of those terms or the negative of those terms or other variations of those terms or comparable words or expressions.  Readers are urged to carefully review and consider the various disclosures made by us in this Quarterly Report on Form 10-Q and our Form 10-KSB for the fiscal year ended December 31, 2007, and our other filings with the U.S. Securities and Exchange Commission (the SEC). These reports and filings attempt to advise interested parties of the risks and factors that may affect our business, financial condition and results of operations and prospects. The forward-looking statements made in this Form 10-Q speak only as of the date hereof and we disclaim any obligation to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.  Plan of Operation  Since our inception on June 23, 2006, our purpose has been to effect a business combination with an operating business which we believe has significant growth potential. We are currently considered to be a "blank check" company in as much as we have no specific business plans, no operations, revenues or employees. We currently have no definitive agreements with any prospective business combination candidates nor are there any assurances that we will find a suitable business with which to combine. The implementation of our business objectives is wholly contingent upon a business combination and/or the successful sale of securities in the Company. We intend to utilize the proceeds of any offering, any sales of equity securities or debt securities, bank and other borrowings or a combination of those sources to effect a business combination with a target business which we believe has significant growth potential. While we may, under certain circumstances, seek to effect business combinations with more than one target business, unless additional financing is obtained, we will not have sufficient proceeds remaining after an initial business combination to undertake additional business combinations.  A common reason for a target company to enter into a merger with a blank check company is the desire to establish a public trading market for its shares. Such a company would hope to avoid the perceived adverse consequences of undertaking a public offering itself, such as the time delays and significant expenses incurred to comply with the various Federal and state securities law that regulate initial public offerings.  9   As a result of our limited resources, we expect to have sufficient proceeds to effect only a single business combination. Accordingly, the prospects for our success will be entirely dependent upon the future performance of a single business. Unlike certain entities that have the resources to consummate several business combinations or entities operating in multiple industries or multiple segments of a single industry, we will not have the resources to diversify our operations or benefit from the possible spreading of risks or offsetting of losses. A target business may be dependent upon the development or market acceptance of a single or limited number of products, processes or services, in which case there will be an even higher risk that the target business will not prove to be commercially viable.  Our officers are only required to devote a small portion of their time to our affairs on a part-time or as-needed basis. We expect to use outside consultants, advisors, attorneys and accountants as necessary, none of which will be hired on a retainer basis. We do not anticipate hiring any full-time employees so long as we are seeking and evaluating business opportunities.  We expect our present management to play no managerial role in the Company following a business combination. Although we intend to scrutinize closely the management of a prospective target business in connection with our evaluation of a business combination with a target business, our assessment of management may be incorrect. We cannot assure you that we will find a suitable business with which to combine.  Continuing Operating Expenses for the Six Months Ended June 30, 2008 Compared to the Six Months Ended June 30, 2007  We currently do not have any business operations and have no revenues since inception. Net loss for the six months ended June 30, 2008 and 2007 was $5,918 and $3,281, respectively. These expenses primarily consisted of professional and filing fees.  Liquidity and Capital Resources  We do not have any revenues from any operations absent a merger or other combination with an operating company and no assurance can be given that such a merger or other combination will occur or that we can engage in any public or private sales of our equity or debt securities to raise working capital. We are dependent upon future loans from our present stockholders or management and there can be no assurances that our present stockholders or management will make any loans to us or on acceptable terms. At June 30, 2008, we had cash of $1,987 and a negative working capital position of $4,188.  Our present material commitments are professional and administrative fees and expenses associated with the preparation of our filings with the SEC and other regulatory requirements. In the event that we engage in any merger or other combination with an operating company, we will have additional material commitments. Although from time to time, we may be engaged in discussions with operating companies regarding a merger or other combination, no assurances can be made that we will engage in any business merger or other business combination with an operating company within the next twelve months.  Commitments  We do not have any commitments which are required to be disclosed in tabular form as of June 30, 2008.  Item 3. Quantitative and Qualitative Disclosures About Market Risk.  A smaller reporting company is not required to provide the information required by this Item.  10   Item 4T. Controls And Procedures.  (a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES  Our management, with the participation of our president and chief financial officer, carried out an evaluation of the effectiveness of our "disclosure controls and procedures" (as defined in the Exchange Act) Rules 13a-15(e) and 15-d-15(e)) as of the end of the period covered by this report (the "Evaluation Date"). Based upon that evaluation, the president and chief financial officer concluded that, as of the Evaluation Date, our disclosure controls and procedures are not effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act (i) is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms and (ii) is accumulated and communicated to our management, including our president and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.  (b) CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING  There were no changes in our internal controls over financial reporting that occurred during the period covered by this Quarterly Report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.  PART II  OTHER INFORMATION  Item 1. Legal Proceedings.To the best knowledge of the officers and directors, the Company is not a party to any legal proceeding or litigation.  Item 1A. Risk Factors.As a smaller reporting company, the Company is not required to provide information required by this Item.  Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.None for the six month period ended June 30, 2008.  Item 3. Defaults Upon Senior Securities.None.  Item 4. Submission of Matters to a Vote of Security Holders.None.  Item 5. Other Information.None.  Item 6. Exhibits.  ExhibitDescription*3.1Articles of Incorporation*3.2By-laws31Certification of the Companys Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.32Certification of the Companys Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002.*Filed as an exhibit to the Company's registration statement on Form 10-SB12G, as filed with the Securities and Exchange Commission on May 10, 2007, and incorporated herein by this reference.   11    SIGNATURES  In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.  R NEW VENTURES, INC.Dated: August 12, 2008By:/s/ Joseph NemelkaName: Joseph NemelkaTitle: President and Treasurer
(Principal Executive Officer and
Principal Financial Officer)     12