| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------|

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| Nevada                                                        | 33-0910363                          |
|---------------------------------------------------------------|-------------------------------------|
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) |
|                                                          |                                |
| 5230 E. Hunter Avenue,  Anaheim, California         | 92807                               |
| (Address of principal executive offices)                      | (Zip Code)                          |

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|                               |   Index                                                                                      |       |
|------------------------------------|---------------------------------------------------------------------------------------------------|------------|
|                               |                                                                                              |  PAGE |
|  PART I FINANCIAL INFORMATION |                                                                                              |
|                               |                                                                                              |       |
|  Item 1.                 |  Financial Statements                                                              |  4    |
|                               |  Consolidated Balance Sheets of March  31, 2010 (unaudited) and December 31, 2009  |  5    |
|                               |  (Unaudited) Consolidated Statements of Operations                                      |  6    |
|                               |  (Unaudited) Consolidated Statements of Cash Flows                                      |  7    |
|                               |  Notes to Consolidated Financial Statements                                                  |  8    |
|                               |                                                                                              |       |
|  Item 2.                 |  Management’s Discussion and Analysis of Financial Condition and Results of Operations |  11   |
|                               |                                                                                              |       |
|  Item 3.            |  Quantitative and Qualitative Discussion About Market Risk                                   |  14   |
|                               |                                                                                              |       |
|  Item 4T.                |  Controls and Procedures                                                                     |  14   |
|                               |                                                                                              |       |
|  PART II OTHER INFORMATION    |                                                                                              |
|                               |                                                                                              |       |
|  Item 1.                      |  Legal Proceedings                                                                           |  15   |
|                               |                                                                                              |       |
|  Item 6.            |   Exhibits                                                                         |  15   |
|                               |                                                                                              |       |
|  SIGNATURE PAGE               |  16                                                                                          |

----

----

PART I

Item 1.                      Financial Statements

| Trycera Financial, Inc.                                                                                                                              |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Consolidated Balance Sheets                                                                                                                          |   |
|                                                                                                                                                 |   |
|                                                                                                                                                 |   | March |   |   | December |   |
|                                                                                                                                                 |   |   | 31, 2010 |   |   |   | 31, 2009 |   |
|                                                                                                                                                 |   | (Unaudited) |   |   |   |   |   |
| Assets                                                                                                                                               |   |   |   |   |   |   |   |   |
| Current Assets                                                                                                                                       |   |   |   |   |   |   |   |   |
| Cash                                                                                                                                                 |   | $ | 8,429 |   |   | $ | - |   |
| Prepaid expenses and other current assets                                                                                                            |   |   | 6,553 |   |   |   | - |   |
|          Total Current Assets                                                                           |   |   | 14,982 |   |   |   | - |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
|           Total Assets                                                                             |   | $ | 14,982 |   |   | $ | - |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Liabilities & Stockholders’ Deficit                                                                                                        |   |   |   |   |   |   |   |   |
| Current Liabilities                                                                                                                                  |   |   |   |   |   |   |   |   |
| Bank overdraft                                                                                                                                       |   | $ | - |   |   | $ | 1,144 |   |
| Accounts payable                                                                                                                                     |   |   | 289,108 |   |   |   | 288,760 |   |
| Accounts payable - related parties                                                                                                                   |   |   | 126,530 |   |   |   | 209,787 |   |
| Portfolio reserves                                                                                                                                   |   |   | 34,774 |   |   |   | 34,774 |   |
| Accrued expenses                                                                                                                                     |   |   | 209,489 |   |   |   | 342,003 |   |
| Unsecured notes                                                                                                                                      |   |   | 77,948 |   |   |   | - |   |
|     10% unsecured note - related party                                                                                                |   |   | 18,500 |   |   |   | 26,000 |   |
| 10% senior secured notes                                                                                                                             |   |   | 77,500 |   |   |   | 77,500 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Total Current Liabilities                                                                                                                            |   |   | 833,849 |   |   |   | 979,968 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Long-term Liabilities                                                                                                                                |   |   |   |   |   |   |   |   |
| 10% Unsecured Convertible Note                                                                                                                       |   |   | 91,792 |   |   |   | - |   |
| Total Long-term Liabilities                                                                                                                          |   |   | 91,792 |   |   |   | - |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
|           Total Liabilities                                                                        |   |   | 925,641 |   |   |   | 979,968 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Commitments                                                                                                                                          |   |   | - |   |   |   | - |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Stockholders’ Deficit                                                                                                                          |   |   |   |   |   |   |   |   |
|    Preferred stock, 20,000,000 shares authorized, $.001 par value; none issued and outstanding                                        |   |   | - |   |   |   | - |   |
|    Common stock, 2,000,000,000 shares authorized at$.001 par value; 445,851,446 and 44,301,446 shares issued and outstanding, respectively |   |   | 445,851 |   |   |   | 44,301 |   |
| Additional paid in capital                                                                                                                           |   |   | 6,117,081 |   |   |   | 5,743,147 |   |
| Prepaid stock compensation                                                                                                                           |   |   | (299,750 | ) |   |   | (330,083 | ) |
| Accumulated deficit                                                                                                                                  |   |   | (7,173,841 | ) |   |   | (6,437,333 | ) |
|           Total Stockholders’ Deficit                                                        |   |   | (910,659 | ) |   |   | (979,968 | ) |
|               Total Liabilities & Stockholders’ Deficit                   |   | $ | 14,982 |   |   | $ | - |   |

----

| Trycera Financial, Inc.                           |   |
|---------------------------------------------------|--------|
| (Unaudited) Consolidated Statements of Operations |   |
|                                              |   |   |   |   |   |   |
|                                              |   | For the 3 Months Ended |   |
|                                              |   | March |   |   | March |   |
|                                              |   |   | 31, 2010 |   |   |   | 31, 2009 |   |
|                                              |   |   |   |   |   |   |   |   |
| Revenues                                          |   |   |   |   |   |   |   |   |
| Stored value                                      |   | $ | 150 |   |   | $ | 87 |   |
|                                              |   |   | 150 |   |   |   | 87 |   |
|                                              |   |   |   |   |   |   |   |   |
| Cost of Sales                                     |   |   | 161 |   |   |   | - |   |
|  Gross Profit                                |   |   | (11 | ) |   |   | 87 |   |
|                                              |   |   |   |   |   |   |   |   |
| Expenses                                          |   |   |   |   |   |   |   |   |
| Salaries and wages                                |   |   | 129,230 |   |   |   | - |   |
| Professional fees                                 |   |   | 35,261 |   |   |   | 42,123 |   |
| General & administrative                      |   |   | 607,882 |   |   |   | 2,031 |   |
|                                              |   |   |   |   |   |   |   |   |
| Total Expenses                                    |   |   | 772,373 |   |   |   | 44,154 |   |
|                                              |   |   |   |   |   |   |   |   |
| Loss from Operations                              |   |   | (772,384 | ) |   |   | (44,067 | ) |
|                                              |   |   |   |   |   |   |   |   |
| Other Income (Expense)                            |   |   |   |   |   |   |   |   |
| Interest income                                   |   |   | - |   |   |   | - |   |
| Interest expense                                  |   |   | (4,124 | ) |   |   | (1,937 | ) |
| Other income (expense)                            |   |   | 40,000 |   |   |   | - |   |
| Total Other Income (Expense)                      |   |   | 35,876 |   |   |   | (1,937 | ) |
|                                              |   |   |   |   |   |   |   |   |
| Loss before tax                                   |   |   | (736,508 | ) |   |   | (46,004 | ) |
| Income tax                                        |   |   | - |   |   |   | - |   |
| Net Loss                                          |   | $ | (736,508 | ) |   | $ | (46,004 | ) |
|                                              |   |   |   |   |   |   |   |   |
| Basic loss Per Share:                             |   |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |   |
| Loss per share                                    |   | $ | (736,508 | ) |   | $ | (46,004 | ) |
|  Net Loss Per Share                          |   | $ | (0.00 | ) |   | $ | (0.00 | ) |
|                                              |   |   |   |   |   |   |   |   |
| Weighted Average Shares                           |   |   | 204,763,111 |   |   |   | 9,694,302 |   |

----

| Trycera Financial, Inc.                                              |   |
|----------------------------------------------------------------------|--------|
| (Unaudited) Consolidated Statements of Cash Flows                    |   |
|                                                                 |   |   |   |   |   |   |
|                                                                 |   | For the 3 Months Ended |   |
|                                                                 |   | March |   |   | March |   |
|                                                                 |   |   | 31, 2010 |   |   |   | 31, 2009 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Cash Flows from Operating Activities                                 |   |   |   |   |   |   |   |   |
| Net Loss                                                             |   | $ | (736,508 | ) |   | $ | (46,004 | ) |
| Adjustments to reconcile net loss to net cash used by operations;    |   |   |   |   |   |   |   |   |
| Amortization of prepaid stock compensation                           |   |   | 30,333 |   |   |   | - |   |
| Amortization of discount on note payable                             |   |   | 226 |   |   |   | - |   |
| Stock issued for services                                            |   |   | 767,050 |   |   |   | - |   |
|    (Increase) decrease in prepaid and other current assets |   |   | (6,553 | ) |   |   | - |   |
| Increase (decrease) in accounts payable                              |   |   | (8,961 | ) |   |   | 43,991 |   |
| Increase (decrease) in accrued expenses                              |   |   | (132,514 | ) |   |   | 1,895 |   |
| Net Cash Used by Operating Activities                                |   |   | (86,927 | ) |   |   | (118 | ) |
|                                                                 |   |   |   |   |   |   |   |   |
| Cash Flows from Investing Activities                                 |   |   |   |   |   |   |   |   |
| Net Cash Provided by Investing Activities                            |   |   | - |   |   |   | - |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Cash Flows from Financing Activities                                 |   |   |   |   |   |   |   |   |
| Decrease in bank overdraft                                           |   |   | (1,144 | ) |   |   | - |   |
| Proceeds from issuance of 10% Convertible note                       |   |   | 100,000 |   |   |   | - |   |
| Payment of 10% unsecured note                                        |   |   | (7,500 | ) |   |   | - |   |
| Proceeds from unsecured note                                         |   |   | 4,000 |   |   |   | - |   |
| Net Cash Provided by Financing Activities                            |   |   | 95,356 |   |   |   | - |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Net Increase (Decrease) in Cash and Cash Equivalents                 |   |   | 8,429 |   |   |   | (118 | ) |
|                                                                 |   |   |   |   |   |   |   |   |
| Cash and Cash Equivalents at Beginning of Period                     |   |   | - |   |   |   | 263 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Cash and Cash Equivalents at End of Period                           |   | $ | 8,429 |   |   | $ | 145 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Cash Paid For:                                                       |   |   |   |   |   |   |   |   |
| Interest                                                             |   | $ | - |   |   | $ | - |   |
| Income Taxes                                                         |   | $ | - |   |   | $ | - |   |
| Non-Cash Financing Activities:                                       |   |   |   |   |   |   |   |   |
| Common stock issued for services and deferred compensation           |   | $ | 767,050 |   |   | $ | - |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Promissory note issued for accounts payable                          |   | $ | 73,948 |   |   | $ | - |   |

----

Notes to Condensed Financial Statements

| A. | General |
|----|---------|

|   | The accompanying condensed financial statements of the Company have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations.  These condensed financial statements reflect all adjustments (consisting only of normal recurring adjustments) that, in the opinion of management, are necessary to present fairly the results of operations of the Company for the periods presented.  These condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Form 10-K for the year ended December 31, 2009.  The results of operations for the three months ended March 31, 2010, are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2010. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| B. | Earnings (Loss) Per Share of Common Stock |
|----|-------------------------------------------|

|   | The computation of earnings (loss) per share of common stock is based on the weighted average number of shares outstanding at the date of the financial statements.  Fully diluted earnings per share, which account for outstanding employee stock options and warrants have not been shown because the effect would have been anti-dilutive for the periods presented. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                  |   | For the 3 Months Ended |        |
|---------------------------------------|--------|------------------------|-------------|
|                                  |   | March                  |        |   | March |   |
|                                  |   |                   | 31, 2010    |   |   |   | 31, 2009 |   |
|                                  |   | (unaudited)            |        |   | (unaudited) |   |
| Basic loss per share                  |   |                   |        |   |   |   |   |   |
| Net loss (numerator)                  |   | $                      | (736,508    | ) |   | $ | (46,004 | ) |
| Weighted average shares (denominator) |   |                   | 204,763,111 |   |   |   | 9,694,302 |   |
|                                  |   |                   |        |   |   |   |   |   |
| Per share amount                      |   | $                      | (0.00       | ) |   | $ | (0.00 | ) |

----

----

Item 2.       Management’s Discussion and Analysis of Financial Condition and Results ofOperations

----

----

----

Item 3.       Quantitative and Qualitative Disclosures About Market Risk

Item 4T.                      Controls and Procedures

----

|   | § | Addition of independent Board Member for oversight and independence; |
|--------|--------|----------------------------------------------------------------------|

|   | § | Planned addition of personnel when Company expands; |
|--------|--------|-----------------------------------------------------|

|   | § | Re-implementation of Company audit committee. |
|--------|--------|-----------------------------------------------|

PART II

ITEM 1.                                LEGAL PROCEEDINGS

----

ITEM 6.           EXHIBITS

| Exhibit No. |   | Description                                                                                                                                                           |
|------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|             |   |                                                                                                                                                                  |
| 31.1             |   | Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934 of the Principal Executive Officer.             |
|             |   |                                                                                                                                                                  |
| 31.2             |   | Certification pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities Exchange Act of 1934 of the Chief Financial Officer.                 |
|             |   |                                                                                                                                                                  |
| 32.1             |   | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of the Principal Executive Officer. |
|             |   |                                                                                                                                                                  |
| 32.2             |   | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, of the Principal Financial Officer. |

----

SIGNATURES

|                     | Trycera Financial, Inc.  |                                        |
|--------------------------|-------------------------------|---------------------------------------------|
|                     |                          |                                        |   |
| Date:  May 17, 2010 | By:                           | /s/ Ray Smith                          |   |
|                     |                          | Ray Smith, President                        |   |
|                     |                          | (Principal Executive Officer)               |   |
|                     |                          |                                        |   |
|                     |                          |                                        |   |
| Date:  May 17, 2010 | By:                           |  /s/ Bryan Kenyon                      |   |
|                     |                          |  Bryan Kenyon, Chief Financial Officer |   |
|                     |                          |  (Principal Financial Officer)         |   |