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: JUNE 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.

                      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:  June 30, 2005  25,138,365


         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)
                                                                                  June 30,          December 31,
ASSETS                                                                              2005                2004
                                                                             ------------------  ------------------
Current Assets:
<S>                                                                          <C>                 <C>
Cash & Cash Equivalents                                                      $            1,308  $            7,882
Taxes Receivable                                                                            705                 414
Inventory - Work in Process                                                              15,029              10,000
                                                                             ------------------  ------------------
     Total Current Assets                                                                17,042              18,296
                                                                             ------------------  ------------------

Fixed Assets:
Fixed Assets                                                                             84,190              84,190
Less Accumulated Depreciation                                                           (56,466)            (50,453)
                                                                             ------------------  ------------------
     Total Fixed Assets                                                                  27,724              33,737
                                                                             ------------------  ------------------

Other Assets:
Prepaid Expenses                                                                            600               1,200
Deposit                                                                                     250              53,317
Intangible Assets                                                                       785,239             785,239
Less Accumulated Amortization                                                          (685,970)           (640,238)
                                                                             ------------------  ------------------
     Total Other Assets                                                                 100,119             199,518
                                                                             ------------------  ------------------

     Total Assets                                                            $          144,885  $          251,551
                                                                             ==================  ==================

LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable                                                             $           90,804  $           98,829
Unearned Revenue                                                                         18,926              18,926
Related Party Payables                                                                  149,700             123,200
Shareholder Loans                                                                        43,345              63,345
                                                                             ------------------  ------------------
     Total Liabilities                                                                  302,775             304,300
                                                                             ------------------  ------------------

Stockholders' Equity:
  Common Stock, Par value $.001
    Authorized 100,000,000 shares,
    Issued 25,138,365 and 25,138,365
    Shares at June 30, 2005 and December 31, 2004                                        25,138              25,138
  Paid-In Capital                                                                     2,598,902           2,598,902
  Deficit Accumulated During the
    Development Stage                                                                (2,781,930)         (2,676,789)
                                                                             ------------------  ------------------
     Total Stockholders' Equity                                                        (157,890)            (52,749)
                                                                             ------------------  ------------------

     Total Liabilities and Stockholders' Equity                              $          144,885  $          251,551
                                                                             ==================  ==================
</TABLE>

                 See accompanying notes and accountants' report.


<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 six months ended        inception of
                                                      June 30,                           June 30,
                                                                               development
                                               2005              2004             2005              2004             stage
                                         ----------------  ---------------- ----------------- ---------------- -----------------
<S>                                      <C>               <C>              <C>               <C>              <C>
Revenues                                 $              -  $              - $               - $              - $         102,839
Cost of Goods Sold                                      -                 -                 -                -            21,500
                                         ----------------  ---------------- ----------------- ---------------- -----------------
Gross Profit                                            -                 -                 -                -            81,339
                                         ----------------  ---------------- ----------------- ---------------- -----------------

Expenses:
   Consulting Fees                                 15,313            15,000            30,813           37,217           592,545
   Depreciation & Amortization                     25,873            80,152            51,745          160,304           696,710
   General & Administrative                        11,819            14,463            22,583           20,188           235,206
                                         ----------------  ---------------- ----------------- ---------------- -----------------

     Net Operating Loss                           (53,005)         (109,615)         (105,141)        (217,709)       (1,443,122)

Other Income (Expenses)
   Interest, Net                                        -                90                 -               90              (236)
   Write Down of Assets                                 -                 -                 -                -        (1,338,572)
                                         ----------------  ---------------- ----------------- ---------------- -----------------

     Net Loss                            $        (53,005) $       (109,525)$        (105,141)$       (217,619)$      (2,781,930)
                                         ================  ================ ================= ================ =================

Loss per share                           $              -  $              - $               - $         (0.01)
                                         ================  ================ ================= ================

Weighted Average Shares
Outstanding                                    25,138,365        25,119,580        25,138,365       25,119,580
                                         ================  ================ ================= ================
</TABLE>













                See accompanying notes and accountants' report.


<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                          Cumulative
                                                                                                             Since
                                                                                                          August 23,
                                                                                                             2002
                                                                       For the six months ended          Inception of
                                                                               June 30,                   Development
                                                                        2005              2004               Stage
                                                                 ------------------ -----------------  -----------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                              <C>                <C>                <C>
Net Loss                                                         $         (105,141)$        (217,619) $      (2,781,930)
Adjustments to reconcile net income (loss) to
  net cash provided (used in) operating activities:
Depreciation & Amortization                                                  51,745           160,304            742,436
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                                                         -                 -            370,600
(Increase) decrease in taxes receivable                                        (291)             (433)              (705)
(Increase) decrease in inventory                                             (5,029)                -            (15,029)
(Increase) decrease in prepaid expenses                                         600             1,597               (600)
(Increase) decrease in deposit                                               53,067                 -               (250)
Increase (decrease) in unearned revenue                                           -                 -             18,926
Increase (decrease) in accounts payable                                      18,475            25,608            169,101
                                                                 ------------------ -----------------  -----------------
Net cash provided by (used in) operating activities                          13,426           (30,543)          (111,279)
                                                                 ------------------ -----------------  -----------------

CASH FLOWS FROM INVESTING
ACTIVITIES:
  Net cash provided by investing activities                                       -                 -                  -
                                                                 ------------------ -----------------  -----------------
</TABLE>










<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                             (Continued) (Unaudited)


<TABLE>
<CAPTION>

                                                                                                          Cumulative
                                                                                                             Since
                                                                                                          August 23,
                                                                                                             2002
                                                                       For the six months ended          Inception of
                                                                               June 30,                   Development
                                                                        2005              2004               Stage
                                                                 ------------------ -----------------  -----------------
CASH FLOWS FROM FINANCING
ACTIVITIES:
<S>                                                                          <C>                 <C>              <C>
Loan from shareholders                                                       25,000              (170)            96,345
Payment of loan from shareholders                                           (45,000)                -            (53,000)
Contributed capital                                                               -                 -              2,842
Stock issued in exchange for cash                                                 -            50,000             66,400
                                                                 ------------------ -----------------  -----------------
  Net cash provided by financing activities                                 (20,000)           49,830            112,587
                                                                 ------------------ -----------------  -----------------

Net (Decrease) Increase in Cash and Cash Equivalents                         (6,574)           19,287              1,308
Effect of Foreign Exchange on Cash                                                -               (16)                 -
Cash and Cash Equivalents at Beginning of Period                              7,882             1,318                  -
                                                                 ------------------ -----------------  -----------------
Cash and Cash Equivalents at End of Period                       $            1,308 $          20,589  $           1,308
                                                                 ================== =================  =================

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

</TABLE>









                See accompanying notes and accountants' report.


<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
            FOR THE THREE AND SIX MONTHS ENDED JUNE 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 June 30, 2005, the Company is in the development  stage,  and has
not commenced planned principal operations.





<PAGE>



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

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 June 30,  2005 and for the
three and six 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 June 30,
2005 and December 31, 2004:

<TABLE>
<CAPTION>
                                                                     June 30,         December 31,
                                                                       2005               2004
                                                                ------------------  -----------------
<S>                                                             <C>                 <C>
Yacht Models                                                    $           38,000  $          38,000
Hull Display                                                                46,190             46,190
                                                                ------------------  -----------------
                                                                            84,190             84,190
Less accumulated depreciation                                              (56,466)           (50,453)
                                                                ------------------  -----------------

Total                                                           $           27,724  $          33,737
                                                                ==================  =================
</TABLE>

<PAGE>

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

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 six months ended June 30, 2005 was
$6,013 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 June 30, 2005 and December 31,
2004:

<TABLE>
<CAPTION>
                                             June 30,         December 31,
           Intangible Asset                    2005               2004           Amortization Period
--------------------------------------  ------------------  ----------------- -------------------------
<S>                                     <C>                 <C>                        <C>
Website                                 $           45,000  $          45,000          2 Years
Yacht Blueprints                                   640,238            640,238          7 Years
Client Lists                                       100,000            100,000        Indefinite
E-Learning System                                        1                  1        Indefinite
                                        ------------------  -----------------
                                                   785,239            785,239
Less accumulated amortization                     (685,970)          (640,238)
                                        ------------------  -----------------

Total                                   $           99,269  $         145,001
                                        ==================  =================
</TABLE>

         Total  amortization  expense for the six months ended June 30, 2005 was
$45,732 and for the year ended December 31, 2004 was $297,321.




<PAGE>



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

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)
         The estimated amortization for the next five years is as follows:


2005                                         $            91,464
2006                                                      53,536
2007                                                           -
2008                                                           -
2009                                                           -
                                             -------------------
Total                                        $           145,000
                                             ===================

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 June 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>



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

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.


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

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


                                                    2004                2003
                                             ---------------  --------------
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
                                             ---------------  --------------
                                                           -               -
                                             ===============  ==============



<PAGE>



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

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 $2,781,930  since the inception of
the development stage on August 23, 2002. For the six months ended June 30, 2005
the Company incurred losses of 105,141.  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 six  months  ended  June 30,  2005 the  company  had  $5,463 in rent
expense.




<PAGE>



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

NOTE 6 - RELATED PARTY TRANSACTIONS

         As of June 30, 2005 and December 31, 2004,  shareholders  have advanced
the  Company  $43,345 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.

         As of June 30, 2005 and  December  31,  2004,  the Company  owed Santeo
Financial  $149,700 and  $123,200  respectfully  for  consulting  services.  Ron
Ruskowsky,  President  and CEO of the  Company is also the  President  of Santeo
Financial.

NOTE 7 - 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.

NOTE 8 - 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 Six Months Ended June 30, 2005

The net loss of $53,005 and $105,141 for the three and six months ended June 30,
2005 was  comprised  of  consulting  fees in the amount of $15,313 and  $30,813,
depreciation  and   amortization  of  $25,873  and  $51,745,   and  general  and
administrative of $11,819 and $22,583.

Results of Operations for the Three and Six Months Ended June 30, 2004

The net loss of $109,525  and  $217,619  for the three and six months ended June
30, 2004 was comprised of consulting  fees in the amount of $15,000 and $37,217,
depreciation  and  amortization  of  $80,152  and  $160,304,   and  general  and
administrative of $14,463 and $20,188 respectively.

Liquidity and Capital Resources

For the Six-Months ended June 30, 2005; the Company's cash position decreased by
$6,574. Cash provided in operating  activities totaled $13,426,  while cash used
by financing activities was $20,000.

For the Six-Months ended June 30, 2004; the Company's cash position increased by
$19,287. Cash used in operating activities totaled $30,543,  while cash provided
by financing activities was $49,830.

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 June 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


<PAGE>



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.


                           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

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

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 June 30, 2005.

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K



<PAGE>



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  5.02(b)  Departure  of Directors or
Principals  Officers  disclosing  the  resignation  of Shahhid Vohra a director,
vice-president, and secretary of the Company.




<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: August 2, 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 August 2, 2005.

Dated: August 2, 2005


                                            By  /S/     Roger Janssen
                                                Roger Janssen,
                                                     Director,