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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-Q/A(Amendment No. 1)

(Mark One)

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

For the quarterly period ended September 30,
2010

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

For the transition period from ________to ________

COMMISSION FILE NUMBER000-52686

QUANTUM SOLAR POWER
CORP.(Exact name of registrant as specified in its
charter)

|NEVADA                                                               | 27-1616811                          
|-------------------------------------------------------------------- | ------------------------------------
|(State or other jurisdiction of incorporation or
      organization) | (I.R.S. Employer Identification No.)
|                                                                     |                                     
|3900 Paseo del Sol, Suite A311                                       |                                     
|Santa Fe, NM                                                         | 87507                               
|(Address of principal executive offices)                             | (Zip Code)                          

(505)-216-0725(Registrant's telephone number,
including area code)

N/A(Former name, former address and former
fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 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.[x] Yes[ ] No

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T (§232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such
files).
[ ] Yes [ ] No

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of large accelerated filer,
accelerated filer and smaller reporting company in Rule 12b-2 of the
Exchange Act.

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

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

Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practicable date: As of
November 5, 2010, the Issuer had 144,293,692 shares of common stock, issued and
outstanding.

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EXPLANATORY NOTE

Quantum Solar Power Corp. is filing this Amendment No. 1 to its
Quarterly Report on Form 10-Q for the quarter ended September 30, 2010, as
originally filed with the Securities and Exchange Commission (SEC) on November
9, 2010 (the Original Form 10-Q), in response to the SECs comment letter
dated February 16, 2011.

This Amendment No. 1 amends the disclosure under Item 4 of Part
I of the Original Form 10-Q.

Item 6 of Part II of this Amendment No. 1 has been amended to
contain the currently dated certifications from our principal executive officer
and principal financial officer, as required by Section 302 and 906 of
Sarbanes-Oxley Act of 2002 and Rule 12b-15 under the Securities Exchange Act of
1934, as amended.

Except as described above, Amendment No. 1 does not modify,
amend or update the disclosure made in the Original Form 10-Q The filing of this
Amendment No. 1 shall not be deemed an admission that the Original Form 10-Q
when made included any untrue statements of material fact or omitted to state a
material fact necessary to make a statement not misleading.

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PART I - FINANCIAL INFORMATION

ITEM 4. CONTROLS AND PROCEDURES.

We carried out an evaluation of the effectiveness of our
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) as of September 30, 2010 (the Evaluation Date). This evaluation
was carried out under the supervision and with the participation of our Chief
Executive Officer and Chief Financial Officer. Based upon that evaluation, our
Chief Executive Officer and Chief Financial Officer concluded that our
disclosure controls and procedures were not effective as of the Evaluation Date
as a result of the material weaknesses in internal control over financial
reporting discussed in our Annual Report on Form 10-K for the year ended June
30, 2010 (the 2010 Annual Report).

Notwithstanding the assessment that our internal control over
financial reporting was not effective and that there were material weaknesses as
identified in our 2010 Annual Report, we believe that our financial statements
contained in our Quarterly Report on Form 10-Q for the quarter ended September
30, 2010 fairly present our financial condition, results of operations and cash
flows in all material respects.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial
reporting that occurred during the quarter ended September 30, 2010 that have
materially affected, or that are reasonably likely to materially affect, our
internal control over financial reporting.

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|PART II - OTHER INFORMATION                                                                                         
|--------------------------------------------------------------------------------------------------------------------
|                                                                                                                    
|ITEM 6. EXHIBITS.                                                                                                   
|                                                                                                                    
|The following exhibits are either provided with this
      Quarterly Report or are incorporated herein by reference.

|Exhibit |                                                                                                                                                                            
|------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Number  | Description of Exhibits                                                                                                                                                    
|3.1     | Articles of
      Incorporation.(1)                                                                                                                                        
|3.2     | Certificate of Change Pursuant to NRS 78.209
      increasing the issued and authorized capital of common stock to
      350,000,000 shares, par value $0.001 per share.(3)
|3.3     | Certificate of Change Pursuant
      to NRS 78.209 increasing the issued and authorized capital of common stock
      to 400,000,000 shares, par value $0.001 per share.(3)
|3.4     | Certificate of Amendment to Articles of
      Incorporation.(3)                                                                                                            
|3.5     | Certificate of Amendment to
      Articles of Incorporation.(3)                                                                                                            
|3.6     | Bylaws, as amended.(1)                                                                                                                                                     
|10.1    | Technology Acquisition
      Agreement between Quantum and Canadian Integrated Optics (IOM) Ltd. dated
      December 16, 2009.(3)                                         
|10.2    | CEO Employment Agreement between Quantum and
      Daryl J. Ehrmantraut dated January 1, 2010.(4)                                                                          
|10.3    | Investor relations Consulting
      Services Contract between Quantum and Green Street Capital Partners, LLC
      dated January 6, 2010. (2)                              
|10.4    | Office Space Lease Agreement between Quantum
      and Santa Fe Business Incubator, Inc. dated January 19, 2010.
      (2)                                                 
|10.5    | Revolving Line of Credit
      Agreement between Quantum and Canadian Integrated Optics (IOM) Ltd. dated
      February 20, 2010.(3)                                       
|10.6    | Consulting Agreement between Quantum and Caisey
      Harlingten dated April 19, 2010. (4)                                                                                 
|10.7    | Office Space Lease Agreement
      between Quantum and Santa Fe Business Incubator, Inc. dated July 27, 2010.
      (4)                                                    
|10.8    | Office Space Lease Agreement between Quantum
      and Guinness Business Center Ltd. dated June 21, 2010 and Addendum dated
      August 17, 2010. (4)                     
|10.9    | Finders Fee Agreement between
      Quantum and 1536476 Alberta Ltd. dated for reference August 30, 2010.
      (4)                                                       
|14.1    | Code of Ethics.(3)                                                                                                                                                         
|31.1    | Certification of Principal
      Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of
      2002.                                                        
|31.2    | Certification of Principal Financial Officer
      pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                              
|32.1    | Certification of Principal
      Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant
      to Section 906 of the Sarbanes-Oxley Act of 2002.         
|32.2    | Certification of Principal Financial Officer
      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
      the Sarbanes-Oxley Act of 2002.         
|99.1    | Audit Committee
      Charter.(3)                                                                                                                                          

|(1) | Previously filed as an exhibit to our Registration
      Statement on Form S-1 originally filed with the SEC on September 21,
      2004.                      
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------
|(2) | Previously filed as an exhibit to our Quarterly Report on
      Form 10-Q for the period ended December 31, 2009 filed with the SEC on
      February 17, 2010.
|(3) | Previously filed as an exhibit to our Quarterly Report of
      Form 10-Q for the period ended March 31, 2010 filed with the SEC on May
      17, 2010.        
|(4) | Previously filed as an exhibit to our Annual Report on
      Form 10-K for the year ended June 30, 2010 filed with the SEC on September
      13, 2010.        

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.

|       |                   |  |     | QUANTUM SOLAR POWER CORP.                             
|------ | ----------------- |  | --- | ------------------------------------------------------
|       |                   |  |     |                                                       
|       |                   |  |     |                                                       
|       |                   |  |     |                                                       
|Dated: | February 28, 2011 |  | By: | /s/
      Daryl J. Ehrmantraut                        
|       |                   |  |     | DARYL J. EHRMANTRAUT                                  
|       |                   |  |     | Chief Executive Officer and President                 
|       |                   |  |     | (Principal Executive Officer)                         
|       |                   |  |     |                                                       
|       |                   |  |     |                                                       
|       |                   |  |     |                                                       
|       |                   |  |     |                                                       
|Dated: | February 28, 2011 |  | By: | /s/
      Graham R. Hughes                            
|       |                   |  |     | GRAHAM R. HUGHES                                      
|       |                   |  |     | Chief Financial Officer, Secretary and
      Treasurer
|       |                   |  |     | (Principal Accounting Officer)                        

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