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, 2004

[ ]      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: September 30, 2004 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)
                                                                               September 30,        December 31,
ASSETS                                                                              2004                2003
                                                                             ------------------  ------------------
Current Assets:
<S>                                                                          <C>                 <C>
Cash & Cash Equivalents                                                      $            9,269  $            1,318
Taxes Receivable                                                                            424                 684
Notes Receivable                                                                        150,000             150,000
Inventory                                                                                21,500                   -
Supplies                                                                                  5,000               5,000
                                                                             ------------------  ------------------
     Total Current Assets                                                               186,193             157,002

Fixed Assets:
Fixed Assets                                                                            163,000             163,000
Less Accumulated Depreciation                                                           (44,631)            (27,166)
                                                                             ------------------  ------------------
     Total Fixed Assets                                                                 118,369             135,834

Other Assets:
Prepaid Expenses                                                                          1,463               2,861
Intangible Assets                                                                     1,895,001           1,895,001
Less Accumulated Amortization                                                          (565,908)           (342,917)
                                                                             ------------------  ------------------
     Total Other Assets                                                               1,330,556           1,554,945
                                                                             ------------------  ------------------

     Total Assets                                                            $        1,635,118  $        1,847,781
                                                                             ==================  ==================

LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable                                                             $           67,973  $           81,074
Related Party Payables                                                                  110,000              65,000
Shareholder Loans                                                                        16,175              21,345
Unearned Revenue                                                                         25,775                   -
                                                                             ------------------  ------------------
     Total Liabilities                                                                  219,923             167,419
                                                                             ------------------  ------------------

Stockholders' Equity:
  Common Stock, Par value $.001, 100,000 Shares
    Authorized, 25,138,365 and 25,038,365 Shares
    Issued and Outstanding as September 30, 2004
    and December 31, 2003                                                                25,138              25,038
  Paid-In Capital                                                                     2,598,902           2,546,160
  Deficit Accumulated During the
    Development Stage                                                                (1,208,845)           (890,836)
                                                                             ------------------  ------------------
     Total Stockholders' Equity                                                       1,415,195           1,680,362
                                                                             ------------------  ------------------

     Total Liabilities and Stockholders' Equity                              $        1,635,118  $        1,847,781
                                                                             ==================  ==================
</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
                                              2004              2003             2004              2003             stage
                                        ----------------  ---------------- ----------------- ---------------- -----------------
<S>                                     <C>               <C>              <C>               <C>              <C>
Revenues:                               $          5,000  $         69,000 $           5,000 $         69,000 $          74,000

Expenses:
   Consulting Fees                                15,365            75,925            52,582          221,925           545,106
   Depreciation & Amortization                    80,152            81,089           240,456          243,268           564,814
   General & Administrative                        9,868            31,811            29,876           37,847           172,818
                                        ----------------  ---------------- ----------------- ---------------- -----------------

     Net Operating Loss                         (100,385)         (119,825)         (317,914)        (434,040)       (1,208,738)

Other Income (Expenses)
   Interest, Net                                      (5)                -               (95)               -              (107)
                                        ----------------  ---------------- ----------------- ---------------- -----------------

     Net Loss                           $       (100,390) $       (119,825)$        (318,009)$       (434,040)$      (1,208,845)
                                        ================  ================ ================= ================ =================

Loss per share                          $          0.00   $          0.00  $          (0.01) $         (0.02)
                                        ================  ================ ================= ================

Weighted Average Shares
Outstanding                                   25,138,365        24,900,828        25,138,365       24,900,828
                                        ================  ================ ================= ================
</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
                                                                        2004              2003               Stage
                                                                 ------------------ -----------------  -----------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                              <C>                <C>                <C>
Net Loss                                                         $         (318,009)$        (434,040) $      (1,208,845)
Adjustments to reconcile net income (loss) to
  net cash provided (used in) operating activities:
Depreciation & Amortization                                                 240,456           243,268            610,539
Write down of marketing material                                                  -                 -             30,000
Stock issued for start up costs                                                   -                 -             12,600
Stock issued for services                                                         -           115,000            370,600
(Increase) decrease in taxes receivable                                         260                 -               (424)
(Increase) decrease in prepaid expenses                                       1,398                 -             (1,463)
(Increase) decrease in inventory                                            (21,500)                -            (21,500)
Increase (decrease) in accounts payable                                      31,889            54,597            106,586
Increase (decrease) in unearned revenue                                      25,775                 -             25,775
                                                                 ------------------ -----------------  -----------------
Net cash provided by (used in) operating activities                         (39,731)          (21,175)           (76,132)
                                                                 ------------------ -----------------  -----------------

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

CASH FLOWS FROM FINANCING
ACTIVITIES:
Loan from shareholders                                                            -             9,280             21,175
Payment on loan form shareholders                                            (5,170)                -             (5,000)
Contributed capital                                                           2,842                 -              2,842
Stock issued in exchange for cash                                            50,000            15,000             66,400
                                                                 ------------------ -----------------  -----------------
  Net cash provided by financing activities                                  47,672            24,280             85,417
                                                                 ------------------ -----------------  -----------------

Net (Decrease) Increase in Cash and Cash Equivalents                          7,941             3,105              9,285
Effect of Foreign Exchange on Cash                                               10                 -                 10
Cash and Cash Equivalents at Beginning of Period                              1,318               333                  -
                                                                 ------------------ -----------------  -----------------
Cash and Cash Equivalents at End of Period                       $            9,269 $           3,438  $           9,269
                                                                 ================== =================  =================
</TABLE>




<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
                                                                        2004              2003               Stage
                                                                 ------------------ -----------------  -----------------

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
-------------------------------------------------
Cash paid during the year for:
<S>                                                              <C>                <C>                <C>
  Interest                                                       $                - $              95  $             107

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.


<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (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).

         As of September 30, 2004, 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 NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (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 services 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.

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, 2004 and December 31, 2003:

<TABLE>
<CAPTION>

                                                                  September 30,       December 31,
                                                                       2004               2003
                                                                ------------------  -----------------
<S>                                                             <C>                 <C>
Yacht Models                                                    $           38,000  $          38,000
Hull Display                                                               125,000            125,000
                                                                ------------------  -----------------
                                                                           163,000            163,000
Less accumulated depreciation                                              (44,631)           (27,166)
                                                                ------------------  -----------------

Total                                                           $          118,369  $         135,834
                                                                ==================  =================
</TABLE>

         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.


<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

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

         Total depreciation expense for the nine months ended September 30, 2004
was $17,465 and for the year ended December 31, 2003 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 30, 2004 and December
31, 2003:

<TABLE>
<CAPTION>
                                          September 30,       December 31,
           Intangible Asset                    2004               2003           Amortization Period
--------------------------------------  ------------------  ----------------- -------------------------
<S>                                     <C>                 <C>                        <C>
Website                                 $           45,000  $          45,000          2 Years
Yacht Blueprints                                 1,600,000          1,600,000          7 Years
Client Lists                                       250,000            250,000        Indefinite
E-Learning System                                        1                  1        Indefinite
                                        ------------------  -----------------
                                                 1,895,001          1,895,001
Less accumulated amortization                     (565,908)          (342,917)
                                        ------------------  -----------------

Total                                   $        1,329,093  $       1,552,084
                                        ==================  =================
</TABLE>

         Total amortization expense for the nine months ended September 30, 2004
was $222,991 and for the year ended December 31, 2003 was $301,072.

         The estimated amortization for the next five years is as follows:


2004                                         $           247,321
2005                                                     228,571
2006                                                     228,571
2007                                                     228,571
2008                                                     228,571
                                             -------------------
Total                                        $         1,161,605
                                             ===================


<PAGE>

                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

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, 2004 and 2003.

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 NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

NOTE 2 - NOTES RECEIVABLE

         As part of the  Asset  Acquisition  (Note  6) the  Company  received  a
Consent  of  Judgement  issued on May 6, 2002 in the  circuit  court of the 11th
judicial  circuit  in and for  Miami,  Dade  County,  Florida  in the  amount of
$458,000 plus interest against Thanos  Papalexis,  Nemesis  Enterprises,  Inc. a
Foreign Corporation and Privee International Inc., a Florida  Corporation.  They
also  received a  promissory  note from Mr.  Thanos  Papalexis  in the amount of
$200,000.

         The Company  believes that they will be able to collect on these notes,
however,  an  allowance  in the amount of $508,000  has been booked  against the
notes in the accompanying  balance sheet. The allowance is made up of legal fees
that may arise if further  legal action is  necessary,  amounts that the Company
will  pay the  boat  builder  that  arises  from an oral  agreement  to pay upon
collection  of the amount in question,  and an allowance for the amount that may
not be collectable.

NOTE 3 - INCOME TAXES

         As of  September  30,  2004,  the  Company  had a  net  operating  loss
carryforward for income tax reporting purposes of approximately  $1,204,000 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.

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 $1,208,845  since the inception of
the  development  stage on August 23, 2002. For the nine months ended  September
30,  2004 the  Company  incurred  losses  of  $318,009.  This  condition  raises
substantial doubt about the Company's ability to continue as a going concern.




<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

NOTE 4 - DEVELOPMENT STAGE COMPANY AND GOING CONCERN (Continued)

         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 under a month to month lease.
This lease can be  canceled on two months  written  notice.  The  current  lease
requires rental payments of  approximately  $925 ($1,200  Canadian  Dollars) per
month plus  applicable  taxes.  During the nine  months  ended June 30, 2004 the
company had $8,693 in rent expense.

NOTE 6 - ASSET ACQUISITION

         On  November  15,  2002,  the  Company  issued  10,000,000   post-split
restricted  shares of the  Company as  consideration  for  certain  assets of PR
Marine, Inc., a Florida Corporation valued at $2,751,000.

         The assets  acquired  include 30 yacht designs with  blueprints on 6 of
them,  a yacht  hull  display,  four  yacht  models,  website,  customer  lists,
marketing material, a consent judgement from a law suit and promissory note, and
also contracts and agreements with shipyards,  designers,  naval  architects and
brokers.

NOTE 7 - RELATED PARTY TRANSACTIONS

         As of  September  30,  2004,  shareholders  have  advanced  the Company
$16,175 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 September  30, 2004 and 2003,  the Company owed Santeo  Financial
$110,000  and $50,000  respectively  for  consulting  services.  Ron  Ruskowsky,
President and CEO of the Company is also the President of Santeo Financial.


<PAGE>



                           PLATINUM SUPERYACHTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

NOTE 8 - COMMON STOCK AND WARRANTS

         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.



<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, 2004
----------------------------------------------------------------------------

The net loss of  $100,390  and  $318,009  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.

Results of Operations for the Three and Nine Months Ended September 30, 2003 The
net loss of $119,825 and $434,040 for the three and nine months ended  September
30, 2003 was comprised of consulting fees in the amount of $75,925 and $221,925,
depreciation  and  amortization  of  $81,089  and  $243,268,   and  general  and
administrative of $31,811 and $37,847 respectively.

Liquidity and Capital Resources

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.

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, 2004,  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.


<PAGE>



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

As a part of the  business  and asset  acquisition  pertaining  to PR Marine,  a
Florida corporation,  Platinum SuperYachts, Inc. received a Consent of Judgement
issued on May 6, 2002 in the circuit court of the 11th  judicial  circuit in and
for Miami, Dada County, Florida; in the amount of $458,000 plus interest against
Thanos Papalexis,  Nemesis Enterprises,  Inc., a foreign corporation, and Privee
International,  Inc.,  a  Florida  corporation.  The  company  also  received  a
promissory note from Mr. Thanos Papalexis in the amount of $200,000.

The company believes that they will be able to collect on these notes,  however,
an allowance of $508,000  has been booked  against the notes in these  financial
statements.  The  allowance  is made up of legal fees,  amounts that the company
will pay a boat builder arising from an oral agreement to pay upon collection of
the  amount  in  question,  and an  allowance  for the  amount  that  may not be
collectable.

ITEM 2. CHANGE IN SECURITIES AND USE OF PROCEEDS

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

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

None

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

No filings were made during the period covered by this report.




<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 9, 2004

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 9, 2004.

Dated: November 9, 2004

By  /S/     Shahid Shafiq Vohra
Shahid Shafiq Vohra,
Vice President

By  /S/     Roger Janssen
Roger Janssen,
Director,