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

                                   FORM 10-QSB

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

                  FOR THE QUARTERLY PERIOD ENDED: SEPTEMBER 30, 2005

[ ]      TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                        For the transition period from To


                         Commission file number 0-27739

                           Platinum SuperYachts, Inc.
        (Exact name of small business issuer as specified in its charter)

                                     NEVADA
                                  77-0517966
        (State or other jurisdiction of (I.R.S. Employer Identification
No.)
Incorporation or organization)

                           Suite #1100 - 1200 W 73rd
                       Vancouver, British Columbia V6P 6G5
                    (Address of principal executive offices)

                                                       (604)264-8689
                           (Issuer's telephone number)

[X]      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.

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

<PAGE>

                      APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares  outstanding of each of the issuer's classes
of common equity,  as of the latest practical date:  October 31, 2005 33,108,365
                                                   -----------------------------

         Transitional  Small Business  Disclosure Format (check one). Yes ; No X
                                                                     ----   ----

<PAGE>

PART I

ITEM 1.  FINANCIAL STATEMENTS

                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                                 BALANCE SHEETS

<TABLE>
<CAPTION>

                                                                      (Unaudited)
                                                                     September 30,            December 31,
ASSETS                                                                    2005                    2004
                                                                    -----------------       -----------------
Current Assets:
<S>                                                                          <C>                     <C>
Cash & Cash Equivalents                                                      $ 3,452                 $ 7,882
Taxes Receivable                                                                 842                     414
Inventory - Work in Process                                                        -                  10,000
                                                                    -----------------       -----------------
     Total Current Assets                                                      4,294                  18,296
                                                                    -----------------       -----------------

Fixed Assets:
Fixed Assets                                                                       -                  84,190
Less Accumulated Depreciation                                                      -                 (50,453)
                                                                    -----------------       -----------------
     Total Fixed Assets                                                            -                  33,737
                                                                    -----------------       -----------------

Other Assets:
Prepaid Expenses                                                                 300                   1,200
Deposit                                                                          250                  53,317
Intangible Assets                                                                  1                 785,239
Less Accumulated Amortization                                                      -                (640,238)
                                                                    -----------------       -----------------
     Total Other Assets                                                          551                 199,518
                                                                    -----------------       -----------------

     Total Assets                                                            $ 4,845               $ 251,551
                                                                    =================       =================

LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable                                                            $ 86,085                $ 98,829
Unearned Revenue                                                                   -                  18,926
Related Party Payables                                                        15,000                 123,200
Shareholder Loans                                                             55,345                  63,345
                                                                    -----------------       -----------------
     Total Liabilities                                                       156,430                 304,300
                                                                    -----------------       -----------------

Stockholders' Equity:
  Common Stock, Par value $.001
    Authorized 100,000,000 shares,
    Issued 18,138,365 and 25,138,365
    Shares at September 30, 2005 and December 31, 2004                        18,138                  25,138
Shares to be issued                                                           14,970                       -
  Paid-In Capital                                                          2,626,423               2,598,902
  Deficit Accumulated During the
    Development Stage                                                     (2,811,116)             (2,676,789)
                                                                    -----------------       -----------------
     Total Stockholders' Equity                                             (151,585)                (52,749)
                                                                    -----------------       -----------------

     Total Liabilities and Stockholders' Equity                              $ 4,845               $ 251,551
                                                                    =================       =================
</TABLE>


                             See accompanying notes

<PAGE>

                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                               Cumulative
                                                                                                                 since
                                                                                                               August 23,
                                                                                                                  2002
                                            For the three months ended        For the nine months ended       inception of
                                                   September 30,                    September 30,             development
                                               2005             2004            2005             2004            stage
                                           --------------   -------------   --------------   -------------    -------------
<S>                                             <C>              <C>             <C>              <C>            <C>
Revenues                                        $ 18,926         $ 5,000         $ 18,926         $ 5,000        $ 121,765
Cost of Goods Sold                               (15,029)              -          (15,029)              -          (36,529)
                                           --------------   -------------   --------------   -------------    -------------
Gross Profit                                       3,897  -        5,000            3,897           5,000           85,236

Expenses:
   Consulting Fees                                15,000          15,365           45,813          52,582          607,545
   Compensation Expense                          128,790               -          128,790               -          128,790
   Depreciation & Amortization                    17,248          80,152           68,993         240,456          713,958
   General & Administrative                        3,800           9,868           27,883          29,876          240,506
                                           --------------   -------------   --------------   -------------    -------------

     Net Operating Loss                         (160,941)       (100,385)        (267,582)       (317,914)      (1,605,563)

Other Income (Expenses)
   Interest, Net                                       -              (5)               -             (95)            (236)
   Gain on Disposal of Assets                    133,255               -          133,255               -          133,255
   Write Down of Assets                                -               -                -               -       (1,338,572)
                                           --------------   -------------   --------------   -------------    -------------

     Net Loss                                  $ (27,686)     $ (100,390)      $ (134,327)     $ (318,009)     $(2,811,116)
                                           ==============   =============   ==============   =============    =============

Loss per share                                     (0.00)          (0.00)           (0.01)          (0.01)
                                           ==============   ==============================   =============

Weighted Average Shares Outstanding           26,206,343      25,138,365       26,206,343      25,138,365
                                           ==============   =============   ==============   =============
</TABLE>



                             See accompanying notes

<PAGE>

                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                    Cumulative
                                                                                                      since
                                                                                                    August 23,
                                                                                                       2002
                                                                For the Nine months ended          inception of
                                                                      September 30,                development
                                                                  2005              2004              stage
                                                             ---------------    --------------    ---------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                              <C>               <C>               <C>
Net Loss                                                         $ (134,327)       $ (318,009)       $(2,811,116)
Adjustments to reconcile net income (loss) to
  net cash provided (used in) operating activities:
Depreciation & Amortization                                          68,993           240,456            759,684
Gain on Sale of Assets                                             (133,255)                            (133,255)
Write down of marketing material                                          -                 -             35,000
Write down of assets                                                      -                 -          1,338,572
Stock issued for start up costs                                           -                 -             12,600
Stock issued for services                                           128,790                 -            499,390
(Increase) decrease in taxes receivable                                (428)              260               (842)
(Increase) decrease in inventory                                     10,000           (21,500)                 -
(Increase) decrease in prepaid expenses                                 900             1,398               (300)
(Increase) decrease in deposit                                       53,067                 -               (250)
Increase (decrease) in unearned revenue                             (18,926)           25,775                  -
Increase (decrease) in accounts payable                              28,756            31,889            179,382
                                                             ---------------    --------------    ---------------
Net cash provided by (used in) operating activities                   3,570           (39,731)          (121,135)
                                                             ---------------    --------------    ---------------

CASH FLOWS FROM INVESTING
ACTIVITIES:
  Net cash provided by investing activities                               -                 -                  -
                                                             ---------------    --------------    ---------------

CASH FLOWS FROM FINANCING
ACTIVITIES:
Loan from shareholders                                               37,000                 -            108,345
Payment of loan from shareholders                                   (45,000)           (5,170)           (53,000)
Contributed capital                                                       -             2,842              2,842
Stock issued in exchange for cash                                         -            50,000             66,400
                                                             ---------------    --------------    ---------------
  Net cash provided by financing activities                          (8,000)           47,672            124,587
                                                             ---------------    --------------    ---------------

Net (Decrease) Increase in Cash and Cash Equivalents                 (4,430)            7,941              3,452
Effect of Foreign Exchange on Cash                                        -                10                  -
Cash and Cash Equivalents at Beginning of Period                      7,882             1,318                  -
                                                             ---------------    --------------    ---------------
                                                             ---------------    --------------    ---------------
Cash and Cash Equivalents at End of Period                          $ 3,452           $ 9,269            $ 3,452
                                                             ===============    ==============    ===============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for:
  Interest                                                              $ -               $ -               $ 12

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Stock issued in plan of reorganization                                  $ -               $ -              $ 858
Stock issued in asset acquisition agreement                             $ -               $ -        $ 2,243,000
Stock issued in asset disposition                                 $ 109,745               $ -          $ 109,745
Stock issued in exchange for related party payable                $ 149,700               $ -          $ 149,700
</TABLE>


                             See accompanying notes

<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004
                                   (Unaudited)


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         This summary of accounting policies for Platinum  SuperYachts,  Inc. is
presented to assist in understanding  the Company's  financial  statements.  The
accounting policies conform to generally accepted accounting principles and have
been consistently applied in the preparation of the financial statements.

Organization and Basis of Presentation

         The Company was  incorporated  under the laws of the State of Nevada on
October  22,  1996 under the name PSM Corp.  The  Company  ceased all  operating
activities  during  the period  from  October  22,  1996 to July 9, 1999 and was
considered  dormant.  On July 9, 1999,  the Company  obtained a  Certificate  of
renewal from the State of Nevada.  On January 11, 2000, the company  changed its
name to Mentor On Call, Inc.

         On  October  3,  2002,  the  Company   changed  its  name  to  Platinum
SuperYachts, Inc. in anticipation of a merger with SuperYachts Holdings, Inc. (a
Nevada  Corporation  that was  incorporated on August 13, 2002). On November 15,
2002,  the  shareholders  of the Platinum  SuperYachts,  Inc.  completed a stock
exchange  agreement with  SuperYachts  Holdings,  Inc. dated August 8, 2002. The
merger was accounted for as a reverse merger,  with  SuperYachts  Holdings being
treated as the acquiring entity for financial reporting purposes.  In connection
with this merger,  SuperYachts  Holdings  issued  858,365 shares of common stock
(100%) in exchange for the assets and  liabilities of the Platinum  SuperYachts,
Inc.

         For  financial  reporting  purposes,  Platinum  SuperYachts,  Inc.  was
considered a new reporting entity on November 15, 2002

         The merger was recorded as a recapitalization.  In connection with this
recapitalization, the number of shares outstanding prior to the merger have been
restated to their post merger  equivalents  (increased from 1,400,000  shares to
14,000,000).  All  references in the  accompanying  financial  statements to the
number of Common  shares and  per-share  amounts for 2002 have been  restated to
reflect the equivalent number of post merger shares.

         As of September 30, 2005, the Company is in the development  stage, and
has not commenced planned principal operations.





<PAGE>



NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Nature of Business

         The Company completed an Asset Acquisition  Agreement (the "Agreement")
with PR Marine Inc., a Florida Corporation on November 15, 2002.

         The Company will design,  construct,  sale, re-sale and service yachts.
Our core  business  will be the  building of yachts in excess of 80 to 200 feet.
Platinum  SuperYachts  will  hire  subcontractors  on a per  job  basis  for the
construction of the vessel. We pay these subcontractors when the client pays us.

Interim Reporting

         The unaudited financial statements as of September 30, 2005 and for the
three and nine months then ended  reflect,  in the  opinion of  management,  all
adjustments  (which  include  only normal  recurring  adjustments)  necessary to
fairly state the financial  position and results of operations for the three and
six months. Operating results for interim periods are not necessarily indicative
of the results which can be expected for full years.

Cash and Cash Equivalents

         For purposes of the statement of cash flows, the Company  considers all
highly liquid debt instruments purchased with a maturity of three months or less
to be cash equivalents to the extent the funds are not being held for investment
purposes.

Depreciation and Amortization

         Fixed   assets  are  recorded  at  cost  and   depreciated   using  the
straight-line  method over the estimated  useful lives of the assets which range
from three to seven years.  Fixed assets consisted of the following at September
30, 2005 and December 31, 2004:

                                      September 30,       December 31,
                                          2005                2004
                                    ------------------  ------------------
 Yacht Models                       $                -  $           38,000
 Hull Display                                        -              46,190
                                    ------------------  ------------------
                                                     -              84,190
 Less accumulated depreciation                       -             (50,453)
                                    ------------------  ------------------

 Total                              $                -  $            33,737
                                    ==================  ==================


<PAGE>







NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

         Maintenance  and  repairs are charged to  operations;  betterments  are
capitalized.  The  cost  of  property  sold  or  otherwise  disposed  of and the
accumulated  depreciation  thereon are eliminated  from the property and related
accumulated depreciation accounts, and any resulting gain or loss is credited or
charged to income.

         Total depreciation expense for the nine months ended September 30, 2005
was $8,018 and for the year ended December 31, 2004 was $23,286.

         The Company has adopted the Financial  Accounting  Standards Board SFAS
No., 142, "Goodwill and Other Intangible Assets." SFAS 142 requires, among other
things,  that companies no longer amortize  goodwill,  but instead test goodwill
for  impairment  at least  annually.  In addition,  SFAS 142  requires  that the
Company identify reporting units for the purposes of assessing  potential future
impairments of goodwill,  reassess the useful lives of other existing recognized
intangible   assets,  and  cease  amortization  of  intangible  assets  with  an
indefinite  useful life.  An  intangible  asset with an  indefinite  useful life
should be tested for impairment in accordance with the guidance in SFAS 142.

Intangible Assets consisted of the following at September, 2005 and December 31,
2004:

<TABLE>
<CAPTION>
                                                   September 30,       December 31,
                    Intangible Asset                   2005                2004          Amortization Period
         --------------------------------------- ------------------  -------------------------------------------
<S>                                              <C>                 <C>                       <C>
         Website                                 $0                  $45,000                   2 Years
         Yacht Blueprints                        0                   640,238                   7 Years
         Client Lists                            0                   100,000                  Indefinite
         E-Learning System                       1                   1                        Indefinite
                                                 ------------------  ------------------
                                                 1                   785,239
         Less accumulated amortization           0                   (640,238)
                                                 ------------------  ------------------

         Total                                   $1                  $145,001
                                                 ==================  ==================
</TABLE>

         Total amortization expense for the nine months ended September 30, 2005
was $60,975 and for the year ended December 31, 2004 was $297,321.




<PAGE>



NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Pervasiveness of Estimates

         The  preparation of financial  statements in conformity  with generally
accepted  accounting  principles  required  management  to  make  estimates  and
assumptions  that  affect the  reported  amounts of assets and  liabilities  and
disclosure of  contingent  assets and  liabilities  at the date of the financial
statements  and the  reported  amounts  of  revenues  and  expenses  during  the
reporting period. Actual results could differ from those estimates.

Foreign Currency Translation

         The Company's primary functional currency is the U.S. dollar.  Monetary
assets and liabilities  resulting from  transactions  with foreign suppliers and
customers  are  translated at year-end  exchange  rates while income and expense
accounts are  translated at average  rates in effect during the year.  Gains and
losses on translation are included in income.

Concentrations of Credit Risk

         The  Company has no  significant  off-balance-sheet  concentrations  of
credit  risk such as foreign  exchange  contracts,  options  contracts  or other
foreign hedging arrangements.

Earnings (Loss) per Share

         Basic loss per share has been  computed  by  dividing  the loss for the
period  applicable to the common  stockholders by the weighted average number of
common  shares  outstanding  during the years.  There were no common  equivalent
shares outstanding at September 30, 2005 and 2004.


Stock Compensation for Non-Employees

         The  Company  accounts  for the fair  value of its  stock  compensation
grants for  non-employees  in accordance with FASB Statement 123. The fair value
of each grant is equal to the market price of the Company's stock on the date of
grant if an active  market  exists or at a value  determined  in an arms  length
negotiation between the Company and the non-employee.


<PAGE>







NOTE 2 - WRITE DOWN OF ASSETS

         As of December 31, 2004 the Company has written down the value of fixed
and  intagible  assets  on the  accompanying  balance  sheet.  The  Company  has
determined that the Hull Display is showing  increased signs of wear, based upon
their  estimation  it has been  written  down by  $78,810.  The Company has also
determined that the Yacht  Blueprints  should be written down as a result in the
changing  tastes of the market and the need to redraft the blueprints to reflect
these changes,  as a result the  Blueprints  have been written down by $959,762.
Management  has  determined  that the client lists that have a carrying value of
$150,000  should be written down to $0 as they are no longer expected to provide
any  future  value.  The  Company  has  also  written  off the  amount  of notes
receivable from the balance sheet in the amount of $150,000.  The  corresponding
expenses to the write down of these  assets  have been  recorded as a expense in
the statement of operations in the amount of $1,338,572.

NOTE 3 - INCOME TAXES

         As  of  December  31,  2004,  the  Company  had a  net  operating  loss
carryforward for income tax reporting purposes of approximately  $9,720,000 that
may be offset against future taxable income through 2023. Current tax laws limit
the amount of loss  available to be offset  against future taxable income when a
substantial  change in  ownership  occurs.  Therefore,  the amount  available to
offset future taxable income may be limited. No tax benefit has been reported in
the financial statements, because the Company believes there is a 50% or greater
chance the  carryforwards  will expire  unused.  Accordingly,  the potential tax
benefits of the loss  carryforwards  are offset by a valuation  allowance of the
same amount.

<TABLE>
<CAPTION>
                                                                              2004                2003
                                                                        ------------------  ------------------
<S>                                                                     <C>                 <C>
      Net Operating Losses                                              3,304,818           2,717,381
      Accrued Consulting Fees                                           (41,888)            (22,100)
      Valuation Allowance                                               (3,262,930)         (2,695,281)
                                                                        ------------------  ------------------
                                                                        -                   -
                                                                        ==================  ==================
</TABLE>

         The provision for income taxes differs from the amount  computed  using
the federal US statutory income tax rate as follows:

<TABLE>
<CAPTION>
                                                                              2004                2003
                                                                        ------------------  ------------------
<S>                                                                     <C>                 <C>
      Provision (Benefit) at US Statutory Rate                          (587,437)           (302,667)
      Accrued Consulting Fees                                           19,788              22,100
      Increase (Decrease) in Valuation Allowance                        567,649             280,567
                                                                        ------------------  ------------------
                                                                        -                   -
                                                                        ==================  ==================
</TABLE>



<PAGE>



NOTE 3 - INCOME TAXES (Continued)

         The Company  evaluates its valuation  allowance  requirements  based on
projected future operations.  When  circumstances  change and causes a change in
management's  judgement  about the  recoverability  of deferred tax assets,  the
impact of the change on the valuation is reflected in current income.

NOTE 4 - DEVELOPMENT STAGE COMPANY AND GOING CONCERN

         The Company has not begun principal  operations and as is common with a
development  stage  company,  the Company has had  recurring  losses  during its
development stage.

         Since  inception,  the  Company  has  incurred  recurring  losses  from
operations and has an accumulated  deficit of $2,811,116  since the inception of
the  development  stage on August 23, 2002. For the nine months ended  September
30,  2005 the  Company  incurred  losses  of  $267,582.  This  condition  raises
substantial doubt about the Company's ability to continue as a going concern.

         Continuation  of the  Company  as a going  concern  is  dependent  upon
obtaining  additional  working  capital and management has developed a strategy,
which it believes will  accomplish  this  objective  through  additional  equity
funding which will enable the Company to operate in the future.  However,  there
can be no  assurance  that the Company  will be  successful  with its efforts to
raise  additional  capital.  The  inability of the Company to secure  additional
financing  in the near term  could  adversely  impact  the  Company's  business,
financial position and prospects.

NOTE 5 - LEASE AGREEMENT

         The Company entered into a month to month lease agreement for an office
it occupies in Vancouver,  British Columbia,  Canada. This lease can be canceled
on two months  written  notice.  The current lease requires  rental  payments of
approximately  $580 ($700  Canadian  Dollars) per month plus  applicable  taxes.
During the nine months ended  September  30, 2005 the company had $7,418 in rent
expense.




<PAGE>



NOTE 6 - RELATED PARTY TRANSACTIONS

As of September 30, 2005 and December 31, 2004,  shareholders  have advanced the
Company $55,345 and 63,345, respectively payable on demand and does not carry an
interest rate. This transaction has been recorded in the accompanying  financial
statements as Shareholder loans.

During  2003,  the year the Company  paid  Shahhid  Vohra,  Vice  President  and
Secretary, $60,000 in exchange for consulting services.

Effective  July 11, 2005,  Shahhid  Vohra  resigned  his  positions as director,
vice-president  and secretary of Platinum  SuperYachts,  Inc.  (the  "Company").
There were no  disagreements  between Mr. Vohra and the Company  relating to the
Company's operations, policies or practices.

Effective July 11, 2005 the company issued 2,000,000  restricted shares to Roger
Janssen the  company's  Vice  President  and  Secretary.  These shares have been
valued at the market price of $0.012.  Compensation  expense of $24,000 has been
booked on the accompanying Statement of Operations.

As of  September  30,  2005 and  December  31,  2004,  the  Company  owed Santeo
Financial  $15,000  and  $123,200  respectfully  for  consulting  services.  Ron
Ruskowsky, President and CEO of the Company is an affiliate of Santeo Financial.

On September 29, 2005, Platinum  SuperYachts,  Inc. (the "Company") sold certain
assets  related to  designing,  building  and selling  yachts (the  "Assets") to
Shahhid  Vohra,  the  Company's   former   Vice-President   and  Secretary.   As
consideration  for the Assets Mr.  Vohra  agreed to allow the  Company to cancel
9,000,000  shares  (the  "Cancelled  Shares")  of  the  Company's  common  stock
beneficially  owned by Mr. Vohra. The Cancelled Shares were originally issued to
Mr. Vohra as consideration  when the Company purchased the Assets from Mr. Vohra
in November 2002. The Assets included,  among other things, yacht models, a hull
display,  yacht blue prints,  the content of the Company's  website,  the domain
name   www.platinumsuperyachts.com   and  the   rights  to  the  name   Platinum
SuperYachts, Inc.

On October 4, 2005,  in  accordance  to the Board of Directors  written  consent
effective  September 13, 2005,  the Company issued  14,970,000  shares of common
stock (the "Shares") to Santeo Financial Corporation  ("Santeo") in exchange for
the cancellation of $149,700 owed by the Company to Santeo.  Ron Ruskowsky,  the
Company's  Director,  President and Chief  Executive  Officer is an affiliate of
Santeo.  The Shares  were  issued  without  registration  in  reliance  upon the
exemption provided by Section 4(2) of the Securities Act of 1933, as amended and
Regulation D promulgated thereunder.


<PAGE>

NOTE 7 - SALE OF ASSETS

On September 29, 2005, Platinum  SuperYachts,  Inc. (the "Company") sold certain
assets  related to  designing,  building  and selling  yachts (the  "Assets") to
Shahhid  Vohra,  the  Company's   former   Vice-President   and  Secretary.   As
consideration  for the Assets Mr.  Vohra  agreed to allow the  Company to cancel
9,000,000  shares  (the  "Cancelled  Shares")  of  the  Company's  common  stock
beneficially  owned by Mr. Vohra. The Cancelled Shares were originally issued to
Mr. Vohra as consideration  when the Company purchased the Assets from Mr. Vohra
in November 2002. The Assets included,  yacht models, a hull display, yacht blue
prints,  client  lists,  the content of the Company's  website,  the domain name
www.platinumsuperyachts.com  and the  rights to the name  Platinum  SuperYachts,
Inc. As a result of this  transaction  a gain on sale of assets of $133,255  has
been booked in the accompanying Statement of Operations.

NOTE 8 - COMMON STOCK AND WARRANTS

         On  September  15, 2003 the Company  entered  into and  agreement  with
Mirage  Investments  where the Company sold 10,000 shares of its common stock in
exchange  for $15,000.  The Company  also granted to the  Purchaser an option to
purchase up to an  additional  50,000  shares of its common  stock at a purchase
price of $2.00 per share, to be exercised by January 12, 2004.

On February 3, 2004 the Company entered into an agreement where the Company sold
100,000 shares of common stock and 100,000 warrants in exchange for $50,000. The
warrant  entitles  the holder  therof to acquire one common share of the Company
for the price of $1.00 per share on or before 12:00 noon (Pacific  Standard Time
)  February  4, 2005 by the  delivery  to the  Company  of a  written  notice of
exercise  together with the purchase price. The warrants were determined to have
no value at the time of their issuance.

Effective July 11, 2005 the company issued 2,000,000  restricted shares to Roger
Janssen the  company's  Vice  President  and  Secretary.  These shares have been
valued at the market price of $0.012.  Compensation  expense of $24,000 has been
booked on the accompanying Statement of Operations.

On October 4, 2005,  in  accordance  to the Board of Directors  written  consent
effective  September 13, 2005,  the Company issued  14,970,000  shares of common
stock (the "Shares") to Santeo Financial Corporation  ("Santeo") in exchange for
the cancellation of $149,700 owed by the Company to Santeo.  Ron Ruskowsky,  the
Company's  Director,  President and Chief  Executive  Officer is an affiliate of
Santeo.  The Shares  were  issued  without  registration  in  reliance  upon the
exemption provided by Section 4(2) of the Securities Act of 1933, as amended and

<PAGE>

Regulation D promulgated thereunder. These shares have been valued at the market
price on the date of the agreement of $0.017. In addition to the cancellation of
the $149,700 and additional amount of compensation  expense of $104,790 has been
booked on the accompanying Statement of Operations.

NOTE 9 - PENDING LITIGATION

         Dieterich & Associates  v.  Platinum  SuperYachts,  Inc.  Christopher H
Dieterich,  Esq.  Has  asserted in case number  04T01643 in Los Angeles  County,
California that Platinum owes his office for legal services  rendered the sum of
$9,807. Mr. Dieterich has filed a "Request for Entry of Default" in that amount.
The Company is currently in  communication  with Mr. Dieterich and is attempting
to resolve  the  matter.  The amount of $9,807  has been  booked as an  accounts
payable in the accompanying financial statements.





<PAGE>

ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF
OPERATIONS

This  statement  includes  projections  of future  results and "forward  looking
statements" as that term is defined 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"). All statements that are included in
this Quarterly  Report,  other than  statements of historical  fact, are forward
looking statements. Although management believes that the expectations reflected
in these forward  looking  statements are  reasonable,  it can give no assurance
that such expectations will prove to have been correct.

FINANCIAL SUMMARY

Results of Operations for the Three and Nine Months Ended September 30, 2005

The net loss of  $27,686  and  $134,327  for the  three  and nine  months  ended
September 30, 2005 was comprised of Revenues of ($18,926) and ($18,926), Cost of
Goods Sold of $15,029 and $15,029,  consulting fees in the amount of $15,000 and
$45,813,  compensation  expense  of  $128,790  and  $128,790,  depreciation  and
amortization of $17,248 and $68,993,  general and  administrative  of $3,800 and
$27,883, and gain on disposal of assets of $(133,255) and $(133,255).

Results of Operations for the Three and Nine Months Ended September 30, 2004

The net loss of  $100,390  and  $318,900  for the  three and nine  months  ended
September 30, 2004 was comprised of consulting fees in the amount of $15,365 and
$52,582,  depreciation and amortization of $80,152 and $240,456, and general and
administrative of $9,868 and $29,876 respectively.

Liquidity and Capital Resources

For the  Nine-Months  ended  September  30, 2005;  the  Company's  cash position
decreased by $4,430.  Cash  provided in operating  activities  totalled  $3,570,
while cash used by financing activities was $8,000.

For the  Nine-Months  ended  September  30, 2004;  the  Company's  cash position
increased by $7,941.  Cash used in operating  activities totaled $39,731,  while
cash provided by financing activities was $47,672.


<PAGE>

MANAGEMENT PLAN OF OPERATIONS

Platinum SuperYachts,  Inc. intends to maintain and grow an established customer
base and  contacts,  and utilize  developed  designs and  technical  layouts and
rendering for the  marketing  and sales of luxury  yachts in worldwide  markets.
Platinum SuperYachts will design,  construct,  sale, resale, and service yachts.
The company's  core business will be the building of yachts of 80 to 200 feet in
length. Platinum SuperYachts will hire subcontractors on a per job basis for the
construction of each vessel.

As of September 30, 2005,  Platinum  SuperYachts is in the development stage and
has not commenced planned principal operations.  As a development stage company,
Platinum  SuperYachts  has  had  recurring  losses  during  this  phase  of  its
operations.  Management  is  currently  developing  a plan to raise  capital  to
develop the business plan. No commitments to provide funding to the company have
been confirmed as of the date of this report.

ITEM 3. CONTROLS AND PROCEDURES

Platinum SuperYachts, Inc. management, including the Principal Executive Officer
and  Principal   Financial   Officer,   have  conducted  an  evaluation  of  the
effectiveness  of disclosure  controls and  procedures  pursuant to Exchange Act
Rule 13a-14(c) and 15d-14(c).  Based on that evaluation, the Principal Executive
Officer and Principal  Financial Officer concluded that the disclosure  controls
and procedures are effective in ensuring that all material  information required
to be filed in this  quarterly  report  has been made  known to them in a timely
fashion. There have been no significant changes in internal controls or in other
factors that could significantly affect internal controls subsequent to the date
the Principal  Executive Officer and Principal Financial Officer completed their
evaluation.



<PAGE>

                           PART II - OTHER INFORMATION


ITEM 1.LEGAL PROCEEDINGS

Dieterich & Associates v. Platinum  SuperYachts,  Inc.  Christopher H Dieterich,
Esq. Has asserted in case number 04T01643 in Los Angeles County, California that
Platinum  owes his office for legal  services  rendered  the sum of $9,807.  Mr.
Dieterich has filed a "Request for Entry of Default" in that amount. The Company
is currently in  communication  with Mr.  Dieterich and is attempting to resolve
the matter.  The amount of $9,807 has been booked as an accounts  payable in the
accompanying financial statements.

ITEM 2. CHANGE IN SECURITIES AND USE OF PROCEEDS

Effective July 11, 2005 the company issued 2,000,000  restricted shares to Roger
Janssen the company's Vice President and Secretary.

On September 29, 2005, Platinum  SuperYachts,  Inc. (the "Company") sold certain
assets  related to  designing,  building  and selling  yachts (the  "Assets") to
Shahhid  Vohra,  the  Company's   former   Vice-President   and  Secretary.   As
consideration  for the Assets Mr.  Vohra  agreed to allow the  Company to cancel
9,000,000  shares  (the  "Cancelled  Shares")  of  the  Company's  common  stock
beneficially  owned by Mr. Vohra. The Cancelled Shares were originally issued to
Mr. Vohra as consideration  when the Company purchased the Assets from Mr. Vohra
in November 2002. The Assets included,  among other things, yacht models, a hull
display,  yacht blue prints,  the content of the Company's  website,  the domain
name   www.platinumsuperyachts.com   and  the   rights  to  the  name   Platinum
SuperYachts, Inc.

On October 4, 2005,  in  accordance  to the Board of Directors  written  consent
effective  September 13, 2005,  the Company issued  14,970,000  shares of common
stock (the "Shares") to Santeo Financial Corporation  ("Santeo") in exchange for
the cancellation of $149,700 owed by the Company to Santeo.  Ron Ruskowsky,  the
Company's  Director,  President and Chief  Executive  Officer is an affiliate of
Santeo.  The Shares  were  issued  without  registration  in  reliance  upon the
exemption provided by Section 4(2) of the Securities Act of 1933, as amended and
Regulation D promulgated thereunder.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None for the quarterly reporting period ending September 30, 2005.

ITEM 5. OTHER INFORMATION

None


<PAGE>

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

Exhibits

Platinum SuperYachts includes herewith the following exhibits:

Number   Description
31      Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32      Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


Reports on Form 8-K

The Company  filed an 8-K  concerning  Item 2.01  Completion of  Acquisition  or
Disposition of Assets  regarding  certain assets related to designing,  building
and  selling  yachts (the  "Assets")  to Shahhid  Vohra,  the  Company's  former
Vice-President and Secretary.

The  Company  filed an 8-K  concerning  Item 3.02  Unregistered  Sales of Equity
Securities  regarding  cancellation  of  $149,700  owed by the Company to Santeo
Financial Corporation.

The  Company  filed  an 8-K  concerning  Item  5.01  Change  of  Control  of the
Registrant  to Ron  Ruskowsky,  the  Company's  Director,  President  and  Chief
Executive Officer.


<PAGE>



                                   SIGNATURES

In  accordance  with  Section 13 or 15(d) of the Exchange  Act,  the  registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                           PLATINUM SUPERYACHTS, INC.


Dated: November 10, 2005




                             By  /S/     Ron Ruskowsky
                             Ron Ruskowsky,
                             President, CEO
                             Principal Executive and Accounting Officer



         In accordance  with the Exchange Act, this report has been signed below
by the following  persons on behalf of the  registrant and in the capacities and
on November 10, 2005.

Dated: November 10, 2005


                              By  /S/     Roger Janssen
                              Roger Janssen,
                              Director,