| (Mark One)                                                                         |
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|                                                                               |
| [X]                                                                                | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|                                                                               |   |
| For the quarterly period ended: March 31, 2011                                     |
|                                                                               |
| 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: 333-147193                                                 |
|                                                                               |
| FLUOROPHARMA MEDICAL, INC.                                                         |
| (Exact name of registrant as specified in its charter)                             |
|                                                                               |
| Nevada                                                                             | 20-8325616 |
| (State or other jurisdiction of incorporation or organization)                     | (I.R.S. Employer Identification No.) |
|                                                                               |   |
| 8950 E. Raintree Drive, Suite 200, Scottsdale, AZ                                  | 85260 |
| (Address of principal executive offices)                                           | (Zip Code) |
|                                                                               |   |
| (863) 673-8353                                                                     |
| (Registrant's telephone number, including area code)                               |
|                                                                               |
| Commercial E-Waste Management, Inc.                                                |
| (Former name, former address and former fiscal year, if changed since last report) |

| Large accelerated filer  [   ]                                                        | Accelerated filer                  [   ] |
|----------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|
| Non-accelerated filer   [   ] (Do not check if a smaller reporting company) | Smaller reporting company  [X]                                                                                                          |

| Common Stock, $0.001 par value | 11,000,000 shares                |
|--------------------------------|----------------------------------|
| (Class)                        | (Outstanding as at May 16, 2011) |

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|                                                                                                               | Page   |
|--------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                               |   |
|                                                                                                               |   |
| PART I – FINANCIAL INFORMATION                                                                               | 3      |
|      Unaudited Financial Statements                                                       | 3      |
|          Condensed Balance Sheets                                     | 4      |
|          Condensed Statements of Operations                           | 5      |
|          Condensed Statements of Cash Flows                           | 6      |
|          Notes to Condensed Financial Statements                      | 7      |
|      Management's Discussion and Analysis of Financial Condition and Results of Operation | 10     |
| PART II – OTHER INFORMATION                                                                                  | 13     |

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PART

Unaudited

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Condensed

|                                                                                     |   | March 31,   |    |   | December 31, |   |
|------------------------------------------------------------------------------------------|--------|-------------|---------|--------|--------------|--------|
|                                                                                     |   | 2011        |    |   | 2010         |   |
|                                                                                     |   | (unaudited) |    |   | (audited)    |   |
|                                                                                     |   |        |    |   |         |   |
| Current assets:                                                                          |   |        |    |   |         |   |
|    Cash                                                                   |   | $           | 69      |   |         | $      | 14 |   |
|       Total current assets                                 |   |        | 69      |   |         |   | 14 |   |
|                                                                                     |   |        |    |   |         |   |   |   |
| Fixed assets, net of accumulated depreciation of $4,472                                  |   |        |    |   |         |   |   |   |
|   and $4,198 as of 3/31/2011 and 12/31/2010, respectively                      |   |        | 1,005   |   |         |   | 1,279 |   |
|                                                                                     |   |        |    |   |         |   |   |   |
| Total assets                                                                             |   | $           | 1,074   |   |         | $      | 1,293 |   |
|                                                                                     |   |        |    |   |         |   |   |   |
| Liabilities and Stockholders’ (Deficit)                                            |   |        |    |   |         |   |   |   |
|                                                                                     |   |        |    |   |         |   |   |   |
| Current liabilities:                                                                     |   |        |    |   |         |   |   |   |
|    Accounts payable                                                       |   | $           | 485     |   |         | $      | 485 |   |
|    Accrued interest                                                       |   |        | -       |   |         |   | 10,270 |   |
|    Notes payable                                                          |   |        | 27,461  |   |         |   | 47,757 |   |
|       Total current liabilities                            |   |        | 27,946  |   |         |   | 58,512 |   |
|                                                                                     |   |        |    |   |         |   |   |   |
| Total liabilities                                                                        |   |        | 27,946  |   |         |   | 58,512 |   |
|                                                                                     |   |        |    |   |         |   |   |   |
| Stockholders’ equity                                                               |   |        |    |   |         |   |   |   |
|    Preferred stock, $0.001 par value, 100,000,000 shares                  |   |        |    |   |         |   |   |   |
|       authorized, no shares issued and outstanding         |   |        | -       |   |         |   | - |   |
|    Common stock, $0.001 par value, 100,000,000 shares                     |   |        |    |   |         |   |   |   |
|       authorized, 11,000,000 shares issued and outstanding |   |        | 11,000  |   |         |   | 11,000 |   |
|    Additional paid-in capital                                             |   |        | 52,086  |   |         |   | 51,986 |   |
|    Accumulated (deficit)                                                  |   |        | (89,958 | )      |         |   | (120,205 | ) |
|       Total stockholders’ (deficit)                  |   |        | (26,872 | )      |         |   | (57,219 | ) |
|                                                                                     |   |        |    |   |         |   |   |   |
| Total liabilities and stockholders’ (deficit)                                      |   | $           | 1,074   |   |         | $      | 1,293 |   |

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Condensed 

|                                                                        |   | Three Months Ended |       |   | January 25, 2007 |   |
|-----------------------------------------------------------------------------|--------|--------------------|------------|--------|------------------|--------|
|                                                                        |   | March 31,          |       |   | (Inception) to   |   |
|                                                                        |   | 2011               |       |   | 2010             |   |   | March 31, 2011 |   |
|                                                                        |   |               |       |   |             |   |   |   |   |
| Revenue                                                                     |   | $                  | -          |   |             | $      | - |   |   | $ | 276,835 |   |
| Cost of sales                                                               |   |               | -          |   |             |   | - |   |   |   | 22,622 |   |
|                                                                        |   |               |       |   |             |   |   |   |   |   |   |   |
| Gross profit                                                                |   |               | -          |   |             |   | - |   |   |   | 254,213 |   |
|                                                                        |   |               |       |   |             |   |   |   |   |   |   |   |
| Expenses:                                                                   |   |               |       |   |             |   |   |   |   |   |   |   |
|    Commissions                                               |   |               | -          |   |             |   | - |   |   |   | 9,561 |   |
|    Commissions – related party                         |   |               | -          |   |             |   | - |   |   |   | 21,114 |   |
|    Depreciation expense                                      |   |               | 274        |   |             |   | 274 |   |   |   | 4,472 |   |
|    Executive compensation                                    |   |               | -          |   |             |   | - |   |   |   | 10,120 |   |
|    General and administrative expenses                       |   |               | 4,749      |   |             |   | 3,807 |   |   |   | 293,006 |   |
|    General and administrative expenses – related party |   |               | -          |   |             |   | - |   |   |   | 30,648 |   |
|       Total expenses                          |   |               | 5,023      |   |             |   | 4,081 |   |   |   | 368,921 |   |
|                                                                        |   |               |       |   |             |   |   |   |   |   |   |   |
| Other income and (expense):                                                 |   |               |       |   |             |   |   |   |   |   |   |   |
|    Gain on forgiveness of debt                               |   |               | 35,917     |   |             |   | - |   |   |   | 35,917 |   |
|    Interest expense                                          |   |               | (647       | )      |             |   | (647 | ) |   |   | (10,917 | ) |
|       Total other expenses                    |   |               | 35,270     |   |             |   | (647 | ) |   |   | 25,000 |   |
|                                                                        |   |               |       |   |             |   |   |   |   |   |   |   |
| Income (loss) before provision for income taxes                             |   |               | 30,247     |   |             |   | (4,728 | ) |   |   | (89,708 | ) |
|                                                                        |   |               |       |   |             |   |   |   |   |   |   |   |
| Provision for income taxes                                                  |   |               | -          |   |             |   | (50 | ) |   |   | (250 | ) |
|                                                                        |   |               |       |   |             |   |   |   |   |   |   |   |
| Net income (loss)                                                           |   | $                  | 30,247     |   |             | $      | (4,778 | ) |   | $ | (89,958 | ) |
|                                                                        |   |               |       |   |             |   |   |   |   |   |   |   |
| Weighted average number of                                                  |   |               |       |   |             |   |   |   |   |   |   |   |
|    common shares outstanding – basic and fully diluted |   |               | 11,000,000 |   |             |   | 11,000,000 |   |   |   |   |   |
|                                                                        |   |               |       |   |             |   |   |   |   |   |   |   |
| Net (loss) per share – basic and fully diluted                        |   | $                  | (0.00      | )      |             | $      | (0.00 | ) |   |   |   |   |

----

Condensed

| `                                                                                    |   | For the three months ended |    |   | January 25, 2007 |   |
|--------------------------------------------------------------------------------------|--------|----------------------------|---------|--------|------------------|--------|
|                                                                                 |   | March 31,                  |    |   | (Inception) to   |   |
|                                                                                 |   | 2011                       |    |   | 2010             |   |   | March 31, 2011 |   |
| Cash flows from operating activities                                                 |   |                       |    |   |             |   |   |   |   |
| Net income (loss)                                                                    |   | $                          | 30,247  |   |             | $      | (4,778 | ) |   | $ | (89,958 | ) |
| Adjustments to reconcile net income (loss) to                                        |   |                       |    |   |             |   |   |   |   |   |   |   |
|    net cash (used) by operating activities:                           |   |                       |    |   |             |   |   |   |   |   |   |   |
|       Gain on forgiveness of debt                      |   |                       | (35,917 | )      |             |   |   |   |   |   | (35,917 | ) |
|       Shares issued for services – related party |   |                       | -       |   |             |   | - |   |   |   | 10,000 |   |
|       Depreciation                                     |   |                       | 274     |   |             |   | 274 |   |   |   | 4,472 |   |
| Changes in operating assets and liabilities:                                         |   |                       |    |   |             |   |   |   |   |   |   |   |
|    Increase in accounts payable                                       |   |                       | -       |   |             |   | - |   |   |   | 485 |   |
|    Increase in accrued interest                                       |   |                       | 647     |   |             |   | 647 |   |   |   | 10,917 |   |
| Net cash (used) by operating activities                                              |   |                       | (4,749  | )      |             |   | (3,857 | ) |   |   | (100,001 | ) |
|                                                                                 |   |                       |    |   |             |   |   |   |   |   |   |   |
| Cash flows from investing activities                                                 |   |                       |    |   |             |   |   |   |   |   |   |   |
|    Purchase of fixed assets                                           |   |                       | -       |   |             |   | - |   |   |   | (5,447 | ) |
| Net cash provided by investing activities                                            |   |                       | -       |   |             |   | - |   |   |   | (5,447 | ) |
|                                                                                 |   |                       |    |   |             |   |   |   |   |   |   |   |
| Cash flows from financing activities                                                 |   |                       |    |   |             |   |   |   |   |   |   |   |
|    Donated capital                                                    |   |                       | 100     |   |             |   | - |   |   |   | 3,086 |   |
|    Issuances of common stock                                          |   |                       | -       |   |             |   | - |   |   |   | 50,000 |   |
|    Proceeds from notes payable                                        |   |                       | 4,704   |   |             |   | 3,818 |   |   |   | 52,461 |   |
|    Payments to note payable – related party                     |   |                       | -       |   |             |   | - |   |   |   | (9,000 | ) |
| Net cash provided by financing activities                                            |   |                       | 4,804   |   |             |   | 3,818 |   |   |   | 105,547 |   |
|                                                                                 |   |                       |    |   |             |   |   |   |   |   |   |   |
| Net increase (decrease) in cash                                                      |   |                       | 55      |   |             |   | (39 | ) |   |   | 69 |   |
| Cash – beginning                                                               |   |                       | 14      |   |             |   | 72 |   |   |   | - |   |
| Cash – ending                                                                  |   | $                          | 69      |   |             | $      | 33 |   |   |   | 69 |   |
|                                                                                 |   |                       |    |   |             |   |   |   |   |   |   |   |
| Supplemental disclosures:                                                            |   |                       |    |   |             |   |   |   |   |   |   |   |
|    Interest paid                                                      |   | $                          | -       |   |             | $      | - |   |   |   | - |   |
|    Income taxes paid                                                  |   | $                          | -       |   |             | $      | 50 |   |   |   | 250 |   |
|                                                                                 |   |                       |    |   |             |   |   |   |   |   |   |   |
| Non-cash transactions:                                                               |   |                       |    |   |             |   |   |   |   |   |   |   |
|    Shares issued for services – related party                   |   | $                          | -       |   |             | $      | - |   |   | $ | 10,000 |   |
|    Number of shares issued for services -                             |   |                       |    |   |             |   |   |   |   |   |   |   |
|       related party                                    |   |                       | -       |   |             |   | - |   |   |   | 10,000,000 |   |
|    Cancellation of Notes Payable                                      |   | $                          | 35,917  |   |             | $      | - |   |   | $ | 35,917 |   |

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Notes

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|                              |   | March 31, |   |
|-----------------------------------|--------|-----------|--------|
|                              |   | 2011      |   |   | 2010 |   |
| Computer equipment                |   | $         | 900    |   |   | $ | 900 |   |
| Furniture, fixtures and equipment |   |      | 4,577  |   |   |   | 4,577 |   |
|                              |   |      |   |   |   |   |   |   |
| Accumulated depreciation          |   |      | (4,472 | ) |   |   | (4,198 | ) |
|                              |   | $         | 1,005  |   |   | $ | 1,279 |   |

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Management's

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|   | 1. | Total commissions paid to our sales staff were $30,675, of which $21,114 was paid to related parties and $9,561 was paid to non-related parties. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Depreciation expense related to our computer equipment and furniture and fixtures was $4,472. |
|--------|----|-----------------------------------------------------------------------------------------------|

|   | 3. | Executive compensation was $10,120, of which $10,000 is due specifically to the issuance of 10,000,000 shares of common stock to our founder for services rendered. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | Aggregate general and administrative expenses were $323,654, of which of which $30,648 was paid to related parties for services rendered. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------|

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| Exhibit Number | Name and/or Identification of Exhibit                                                        |
|----------------|----------------------------------------------------------------------------------------------|
|           |                                                                                         |
| 3              | Articles of Incorporation & By-Laws                                                      |
|           |                                                                                         |
|           | (a) Articles of Incorporation (1)(b) Certificate of Amendment to Articles of Incorporation * |
|           |                                                                                         |
|           | (c) Amended and Restated By-Laws *                                                           |
|           |                                                                                         |
| 10             | Material Contracts                                                                           |
|           |                                                                                         |
|           | (a) Bridge Loan Agreement dated February 2, 2007 (2)                                         |
|           |                                                                                         |
|           | (b) Promissory Note dated September 1, 2007 (2)                                              |
|           |                                                                                         |
| 31             | Rule 13a-14(a)/15d-14(a) Certifications*                                                     |
|           |                                                                                         |
| 32             | Certification under Section 906 of the Sarbanes-Oxley Act (18 U.S.C. Section 1350)*          |
|           |                                                                                         |

|   | (1) | Incorporated by reference herein filed as exhibits to the Company’s Registration Statement on Form SB-2 filed on November 7, 2007. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Incorporated by reference herein filed as exhibits to the Company’s Registration Statement on Form SB-2/A filed on January 23, 2008. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

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| FLUOROPHARMA MEDICAL, INC. |
|----------------------------|
| (Registrant)               |
|                       |
| Signature                  | Title | Date |
|                       |   |   |
| /s/ Anna Chalmers          | President and | May 16, 2011 |
| Anna Chalmers              | Chief Executive Officer |   |
|                       |   |   |
| /s/ Anna Chalmers          | Chief Financial Officer | May 16, 2011 |
| Anna Chalmers              |   |   |
|                       |   |   |
| /s/ Anna Chalmers          | Chief Accounting Officer | May 16, 2011 |
| Anna Chalmers              |   |   |

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