UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                   FORM 10-QSB/A


[ X ]    Quarterly Report pursuant to Section 13 or 15(d) of the Securities
         Exchange Act of 1934

         For the period ended August 31, 2006

[    ]   Transition Report pursuant to 13 or 15(d) of the Securities Exchange
         Act of 1934

         For the transition period                    to
                                   ------------------    -----------------------

                  Commission File Number   333-119715
                                           ----------

                              Quorum Ventures, Inc.
               ---------------------------------------------------
        (Exact name of Small Business Issuer as specified in its charter)

             Nevada                                       Pending
-------------------------------              ---------------------------------
(State or other jurisdiction of              (IRS Employer Identification No.)
incorporation or organization)


2640 Tempe Knoll Drive
North Vancouver. B.C., Canada                            V6C 1V5
-----------------------------------------          --------------------
(Address of principal executive offices)           (Postal or Zip Code)


Issuer's telephone number, including area code:   604-908-0233
                                                ----------------

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


Check  whether the issuer (1) 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 issuer was  required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days Yes [ ] No [ X ]


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

State the number of shares outstanding of each of the issuer's classes of common
stock, as of the latest practicable date:  7,050,000 shares of common stock with
par value of $0.001 per share outstanding as of November 9, 2006.


<page>


                              QUORUM VENTURES, INC.

                         (An Exploration Stage Company)

                          INTERIM FINANCIAL STATEMENTS

                                 August 31, 2006

                                   (Unaudited)





BALANCE SHEETS

INTERIM STATEMENTS OF OPERATIONS

INTERIM STATEMENTS OF CASH FLOWS

STATEMENT OF STOCKHOLDERS' EQUITY

NOTES TO THE INTERIM FINANCIAL STATEMENTS


<page>

                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                                 BALANCE SHEETS

<table>
<caption>

                                                                              August 31,          May 31,
                                                                                 2006               2006
                                                                                 ----               ----
                                                                             (Unaudited)         (Audited)

                                                                        <c>               <c>
                                         ASSETS

Current Assets
   Cash                                                                    $          3,530  $          7,736
   Prepaid expense                                                                      567             1,362
                                                                           ----------------  ----------------
Total assets                                                               $          4,097  $          9,098
                                                                           ================  ================

                                     LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities
   Accounts payable and accrued liabilities                                $         11,200  $         11,681
   Due to related party (Note 5)                                                     19,550            19,550
                                                                           ----------------  ----------------
                                                                                     30,750            31,231
                                                                           ================  ================

Common stock (Note 4)
   75,000,000 shares authorized, $0.001 par value,
   7,050,000 shares issued and outstanding                                            7,050             7,050
      (May 31,  2006 -7,050,000)
Additional paid-in capital                                                           22,950            22,950
Deficit accumulated during the exploration stage                                (    56,653)    (      52,133)
                                                                           ----------------  ----------------
                                                                               (     26,653)    (     22,133)
                                                                           ----------------  ----------------
Total liabilities and stockholders' deficit                                $          4,097  $          9,098
                                                                           ================  ================
</table>




              The accompanying notes are an integral part of these
                         interim financial statements.

<page>


                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                        INTERIM STATEMENTS OF OPERATIONS
                                   (Unaudited)


<table>
<caption>
                                                                                                     February 2, 2004
                                                                                                      (Inception) to
                                                               Three months ended August 31,            August 31,
                                                                 2006                 2005                 2006
                                                                 ----                 ----                 ----

                                                       <c>                  <c>                  <c>
Expenses
   Accounting and audit                                   $          4,005     $          1,928     $         29,542
   Bank charges and interest                                            23                   18                  380
   Filing                                                              492                    -                4,199
   Interest expense                                                      -                    -                1,222
   Legal                                                                 -                    -                8,650
   Mineral property costs (Note 3)                                       -                    -               12,500
   Office and general                                                    -                    -                  160
                                                          ----------------     ----------------     ----------------
Loss before income taxes                                            (4,520)              (1,946)             (56,653)

Provision for income taxes                                               -                    -                    -
                                                          ----------------     ----------------     ----------------
Net loss                                                  $         (4,520)    $         (1,946)    $        (56,653)
                                                          ================     ================     ================
Basic and diluted net loss per share                      $          (0.00)    $          (0.00)
                                                          ================     ================
Weighted average number of shares outstanding                    7,050,000            7,050,000
                                                          ================     ================
</table>



              The accompanying notes are an integral part of these
                         interim financial statements.

<page>
                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                         INTERIM STATEMENT OF CASH FLOWS
                                   (Unaudited)

<table>
<caption>
                                                                                                           February 2, 2004
                                                                                                            (Inception) to
                                                                     Three months ended August 31,            August 31,
                                                                       2006                 2005                 2006
                                                                       ----                 ----                 ----

                                                             <c>                  <c>                  <c>
Cash Flows From Operating Activities
   Net loss                                                     $  (        4,520)   $  (        1,946)   $  (       56,653)
   Changes in non cash working capital items
     Prepaid expenses                                                         795                    -                 (567)
     Accounts payable and accrued liabilities                                (481)               1,928               11,200
                                                                -----------------    -----------------    ------------------
Net cash used in operations                                        (        4,206)      (           18)      (       46,020)
                                                                -----------------    -----------------    ------------------

Cash Flows From Financing Activities
   Proceeds from sale and issuance of common stock                              -                    -               30,000
   Increase in due to related party                                             -                    -               19,550
                                                                -----------------    -----------------    ------------------
Net cash provided by financing activities                                       -                    -               49,550
                                                                -----------------    -----------------    ------------------
Net increase (decrease) in cash                                    (        4,206)  (               18)               3,530

Cash, beginning                                                             7,736               15,642                    -
                                                                -----------------    -----------------    ------------------
Cash, ending                                                    $           3,530    $          15,624    $           3,530
                                                                =================    =================    ==================

Supplemental Cash Flow Information
Cash paid for:
   Interest                                                     $               -    $               -    $               -
                                                                =================    =================    ==================
   Income taxes                                                 $               -    $               -    $               -
                                                                =================    =================    ==================
</table>


              The accompanying notes are an integral part of these
                         interim financial statements.

<page>

                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                       STATEMENT OF STOCKHOLDERS' DEFICIT
                 Inception (February 2, 2004) to August 31, 2006


<table>
<caption>

                                                                                                       Deficit
                                                                                                     Accumulated
                                                                                     Additional       During the
                                                           Common Shares               Paid-in       Exploration
                                                 ----------------------------------
                                                      Number           Amount          Capital          Stage            Total
                                                      ------           ------          -------          -----            -----

                                                   <c>         <c>              <c>             <c>              <c>
Common stock issued for cash
 - at $0.001 per share, February 2004                 5,000,000   $        5,000   $            -  $            -   $      5,000
 - at $0.01 per share, March 2004                     2,000,000            2,000           18,000               -         20,000
 - at $0.10 per share, April 2004                        50,000               50            4,950               -          5,000
Net loss                                                      -                -                -      (   14,547)     (  14,547)
                                                      ---------   --------------   --------------  --------------   -------------
Balance, May 31, 2004                                 7,050,000            7,050           22,950      (   14,547)        15,453

Net loss                                                      -                -                -      (   15,553)     (  15,553)
                                                      ---------   --------------   --------------  --------------   -------------
Balance, May 31, 2005                                 7,050,000            7,050           22,950      (   30,100)     (     100)
Net loss                                                      -                -                -      (   22,033)     (  22,033)
                                                      ---------   --------------   --------------  --------------   -------------
Balance, May 31, 2006 (audited)                       7,050,000            7,050           22,950      (   52,133)     (  22,133)

Net loss                                                      -                -                -      (    4,520)     (   4,520)
                                                      ---------   --------------   --------------  --------------   -------------
Balance, August 31, 2006 (unaudited)                  7,050,000   $        7,050   $       22,950  $   (   56,653)   $ (  26,653)
                                                      =========   ==============   ==============  ==============   =============
</table>

              The accompanying notes are an integral part of these
                         interim financial statements.

<page>
                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                 August 31, 2006
                                   (Unaudited)


Note 1        Nature and Continuance of Operations

              Organization

              The Company was incorporated in the State of Nevada on February 2,
              2004. The Company's fiscal year end is May 31.

              Exploration Stage Activities

              The Company has been in the exploration  stage since its formation
              and has not yet realized any revenues from its planned operations.
              It is primarily  engaged in the  acquisition  and  exploration  of
              mining properties. Upon location of a commercial, minable reserve,
              the  Company  expects  to  actively   prepare  the  site  for  its
              extraction and enter the mine development stage.

              The  Company  has  acquired  a  mineral  property  located  in the
              Province of British  Columbia,  Canada and has not yet  determined
              whether this  property  contains  reserves  that are  economically
              recoverable.  The recoverability of amounts from the property will
              be  dependent  upon  the  discovery  of  economically  recoverable
              reserves, confirmation of the Company's interest in the underlying
              property, the ability of the Company to obtain necessary financing
              to  satisfy  the  expenditure   requirements  under  the  property
              agreement and to complete the development of the property and upon
              future profitable production or proceeds for the sale thereof.

              Going concern

              These  financial  statements have been prepared on a going concern
              basis which  assumes  that the Company will be able to realize its
              assets and  discharge  its  liabilities  in the  normal  course of
              business.   The  Company  has  incurred   losses  since  inception
              resulting  in an  accumulated  deficit of $56,653 as of August 31,
              2006 and further losses are  anticipated in the development of its
              business raising  substantial doubt about the Company's ability to
              continue as a going  concern.  These  financial  statements do not
              include any  adjustments  to the amounts  and  classifications  of
              assets and liabilities  that might be necessary should the Company
              be unable to continue as a going concern.

              Unaudited Interim Financial Statements

              The accompanying  unaudited interim financial statements have been
              prepared  in  accordance   with  generally   accepted   accounting
              principles  for  interim   financial   information  and  with  the
              instructions  to Form  10-QSB  of  Regulation  S-B.  They  may not
              include  all  information  and  footnotes  required  by  generally
              accepted accounting  principles for complete financial statements.
              However, except as disclosed herein, there have been

<page>

                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                 August 31, 2006
                                   (Unaudited)

Note 1        Nature and Continuance of Operations - Cont'd

              Unaudited Interim Financial Statements - Cont'd

              no material  changes in the information  disclosed in the notes to
              the  financial  statements  for the  period  ended  May  31,  2006
              included in the  Company's  10-KSB filed with the  Securities  and
              Exchange  Commission.  The interim unaudited financial  statements
              should be read in  conjunction  with  those  financial  statements
              included in the Form  10-KSB.  In the opinion of  Management,  all
              adjustments   considered   necessary  for  a  fair   presentation,
              consisting solely of normal recurring adjustments, have been made.
              Operating  results for the three  months ended August 31, 2006 are
              not necessarily indicative of the results that may be expected for
              the year ending May 31, 2007.

Note 2        Summary of Significant Accounting Policies

              Basis of Presentation

              The  financial  statements  of the  Company  are  presented  in US
              dollars and have been  prepared in  accordance  with United States
              generally accepted accounting principles.

              Mineral Property

              Mineral property exploration and development costs are expensed as
              incurred until such time as economic reserves are quantified.  The
              Company  has  considered  the  guidance  under  EITF  04-2 and has
              determined that  capitalization  of mineral  property  acquisition
              costs is  inappropriate  at the  current  stage  of the  Company's
              mineral property  exploration  activities.  To date, the Company's
              mineral  interests consist mainly of exploration stage properties.
              Furthermore,  there is uncertainty as to the Company's  ability to
              fund the exploration work necessary to determine if the properties
              have recoverable  reserves or any future economic  benefits.  As a
              result,  acquisition  costs to date are  considered to be impaired
              and  accordingly,  have  been  written  off  as  mineral  property
              expenditures.

              Use of Estimates and Assumptions

              The  preparation  of  financial   statements  in  conformity  with
              generally accepted  accounting  principles in the United States of
              America requires 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 period. Actual results could differ from those
              estimates.

<page>

                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                 August 31, 2006
                                   (Unaudited)


Note 2        Summary of Significant Accounting Policies - (cont'd)

              Foreign Currency Translation

              The financial  statements are presented in United States  dollars.
              In  accordance  with  Statement of Financial  Accounting  Standard
              ("SFAS")  No.  52,   "Foreign   Currency   Translation",   foreign
              denominated  monetary  assets and  liabilities  are  translated to
              their United States  dollar  equivalents  using  foreign  exchange
              rates  which  prevailed  at the balance  sheet  date.  Revenue and
              expenses are  translated at average  rates of exchange  during the
              period. Certain translation adjustments are reported as a separate
              component  of  stockholders'  equity,   whereas  gains  or  losses
              resulting  from  foreign  currency  transactions  are  included in
              results of operations.

              Income Taxes

              A deferred tax asset or  liability  is recorded for all  temporary
              differences  between financial and tax reporting and net operating
              loss  carryforwards.  Deferred tax expenses (recovery) result from
              the net  change  during  the  period of  deferred  tax  assets and
              liabilities.

              Deferred tax assets are reduced by a valuation  allowance when, in
              the  opinion of  management,  it is more likely than not that some
              portion or all of the  deferred  tax assets will not be  realized.
              Deferred tax assets and  liabilities  are adjusted for the effects
              of changes in tax laws and rates on the date of enactment.

              Stock-based Compensation

              In December  2004,  the FASB issued  SFAS No.  123R,  "Share-Based
              Payment", which replaced SFAS No. 123, "Accounting for Stock-Based
              Compensation"  and superseded APB Opinion No. 25,  "Accounting for
              Stock Issued to  Employees".  In January 2005,  the Securities and
              Exchange  Commission  ("SEC")  issued  Staff  Accounting  Bulletin
              ("SAB")   No.   107,   "Share-Based   Payment",   which   provides
              supplemental  implementation  guidance for SFAS No. 123R. SFAS No.
              123R requires all  share-based  payments to  employees,  including
              grants  of  employee  stock  options,  to  be  recognized  in  the
              financial  statements  based on the grant  date fair  value of the
              award.  SFAS No.  123R was to be  effective  for interim or annual
              reporting  periods  beginning  on or after June 15,  2005,  but in
              April 2005 the SEC issued a rule that will permit most registrants
              to implement  SFAS No. 123R at the  beginning of their next fiscal
              year, instead of the next reporting period as required by SFAS No.
              123R. The pro-forma  disclosures  previously  permitted under SFAS
              No. 123 no longer will be an  alternative  to financial  statement
              recognition.  Under SFAS No. 123R,  the Company must determine the
              appropriate  fair value model to be used for  valuing  share-based
              payments,  the amortization  method for compensation  cost and the
              transition method to be used at date of adoption.

<page>

                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                 August 31, 2006
                                   (Unaudited)

Note 2         Summary of Significant Accounting Policies - (cont'd)

              Stock-based Compensation - (cont'd)

              The  transition   methods  include   prospective  and  retroactive
              adoption options. Under the retroactive options, prior periods may
              be restated  either as of the beginning of the year of adoption or
              for all periods  presented.  The prospective  method requires that
              compensation  expense be recorded for all unvested  stock  options
              and  restricted  stock at the  beginning  of the first  quarter of
              adoption of SFAS No. 123R,  while the  retroactive  methods  would
              record  compensation  expense for all unvested  stock  options and
              restricted  stock  beginning with the first period  restated.  The
              Company adopted the modified prospective approach of SFAS No. 123R
              for the year  beginning  June 1, 2005.  The Company did not record
              any  compensation  expense during the period ended August 31, 2006
              as there were no stock options  outstanding  prior to the adoption
              or at August 31, 2005

              Loss Per Share

              Basic  net  loss  per  share  is  computed  by  dividing  net loss
              attributable to common stockholders by the weighted average number
              of shares  outstanding  during the  period.  Diluted  net loss per
              share takes into consideration  shares of common stock outstanding
              (computed  under  basic loss per share) and  potentially  dilutive
              shares of common stock.

              Recent Accounting Pronouncements

              In June  2006,  the FASB  issued  FASB  Interpretation  Number 48,
              "Accounting for Uncertainty in Income Taxes - an interpretation of
              FASB  Statement  No.  109."  This  Interpretation   clarifies  the
              accounting  for  uncertainty  in  income  taxes  recognized  in an
              enterprise's   financial   statements  in  accordance   with  FASB
              Statement   No.  109,   "Accounting   for  Income   Taxes."   This
              Interpretation  is  effective  for fiscal  years  beginning  after
              December 15, 2006.  The Company is currently  assessing the effect
              of this Interpretation on its financial statements.

Note 3        Mineral Property

              By a mineral property purchase agreement dated April 21, 2004, the
              Company acquired a 90% undivided right,  title and interest in and
              to three mineral  claims in  Yellowknife,  Northwest  Territories,
              Canada by the  payment  of  $7,500.  During the year ended May 31,
              2005 the Company incurred mineral exploration  expenses of $5,000.
              During the year ended May 31,  2006 the  Company  did not make the
              annual  payment  on  one  of  the  claims,   as  required  by  the
              territorial government, and consequently the title to the minerals
              claim  lapsed.  The  remaining  claims  are held in trust  for the
              Company by the property  vendor.  The 90% right interest and title
              in and to the claims is  transferable  to the  Company at any time
              upon request and is subject to a 2% net smelter return royalty.

<page>
                              QUORUM VENTURES, INC.
                         (An Exploration Stage Company)
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                 August 31, 2006
                                   (Unaudited)

Note 4        Common Stock

              The total number of common shares authorized that may be issued by
              the Company is 75,000,000  shares with a par value of one tenth of
              one cent  ($0.001)  per  share  and no other  class of  shares  is
              authorized.

              During the year ended May 31, 2004, the Company  issued  7,050,000
              shares of common stock for total cash proceeds of $30,000.

              At August 31, 2006,  there were no  outstanding  stock  options or
              warrants.

Note 5        Related Party Transactions

              As at August 31, 2006, an amount of $19,550 (May 31, 2006:
              $19,550) is owing to a director of the Company. The amount is
              unsecured, non-interest bearing and has no specified terms of
              repayment

Note 6        Segment Information

              The Company currently conducts all of its operations in Canada.

<page>

Forward-Looking Statements

This Form 10-QSB includes "forward-looking statements" within the meaning of the
"safe-harbor"  provisions  of the Private  Securities  Litigation  Reform Act of
1995.  Such statements are based on management's  current  expectations  and are
subject to a number of factors and uncertainties that could cause actual results
to differ materially from those described in the forward-looking statements.

All statements  other than  historical  facts  included in this Form,  including
without  limitation,   statements  under  "Plan  of  Operation",  regarding  our
financial  position,  business strategy,  and plans and objectives of management
for the future operations, are forward-looking statements.

Although we believe  that the  expectations  reflected  in such  forward-looking
statements are reasonable,  it can give no assurance that such expectations will
prove to have been correct. Important factors that could cause actual results to
differ materially from our expectations  include, but are not limited to, market
conditions, competition and the ability to successfully complete financing.

Item 2. Plan of Operation

Our plan of operation  for the twelve  months  following the date of this annual
report is to complete the recommended phase one and two exploration  programs on
the Upper Ross Lake property consisting of re-sampling of old workings, geologic
mapping,  analytical and test surveys.  We anticipate that the phase one program
will  cost  approximately   $5,000,  while  the  phase  two  program  will  cost
approximately  $10,000. To date, we have not commenced  exploration on the Upper
Ross Lake property, although we have funded the phase one exploration program.

Phase  one will  consist  of a  consulting  geologist  reviewing  and  compiling
information  regarding previous  exploration on the property and the re-sampling
of property that are known to contain gold. The re-sampling will be conducted by
a geologist and his helper.  They will gather rock and soil samples from various
property locations and then ship them to a laboratory that will analyze them for
mineral content. The geologist will then analyze the laboratory results in order
to  determine  which  directions,  if any,  that  mineralization  trends  on the
property  and to choose  property  areas upon which  future  exploration  should
focus. Our directors,  Steven Bolton and Bryan Markert,  will not be involved in
exploration work on the property.

The  objective  of the phase one  exploration  program  will be to  confirm  the
presence of gold in  previously  sampled areas and to gain an  understanding  of
where additional  mineralization may be discovered on the property.  We will use
these  results in order to attempt to raise  additional  financing for our phase
two exploration program.

We will then  undertake the phase two work program.  This program will also take
approximately  one month to complete.  It will consist of mapping and  reviewing
the results of the phase one exploration program and performing geophysical test
surveys on the claims.

Mapping involves plotting previous  exploration data relating to a property on a
map in order to determine  the best  property  locations  to conduct  subsequent
exploration work.

Geophysical  surveying  is the search for  mineral  deposits  by  measuring  the
physical  property of  near-surface  rocks,  and  looking for unusual  responses

<page>


caused by the presence of mineralization.  Electrical, magnetic,  gravitational,
seismic and  radioactive  properties  are the ones most commonly  measured.  The
geologist   overseeing  the  phase  two  exploration  program  will  choose  the
appropriate  geophysical survey or surveys based on the results of the phase one
program.  Our  objective of the phase two program  will be to determine  whether
mineralization discovered on the claims surface may occur beneath the ground. We
will look for high  geophysical  survey  readings  in areas of the claims  where
surface mineralization exists.

The budget for the phase two program is as follows:

Mapping:                                $  2,000.00
Analytical:                             $  2,000.00
Geophysical test surveys:               $  6,000.00
                                        -----------

Total Phase II Costs:                    $10,000.00

We intend to retain Mr. William Timmins, a geological engineer, to undertake the
proposed  exploration on the Upper Ross Lake property given his familiarity with
the property area. Mr. Timmins has worked on other mineral exploration  projects
in the region of the Upper Ross Lake  claims and  visited  the  property  during
April  2004.  Mr.  Timmins has never had and does not have any  relationship  or
affiliation with us or our management.

We do not have any verbal or written  agreement  regarding  the retention of Mr.
Timmins for this  exploration  program,  though he has indicated that he will be
available to provide his services.  We have not executed a formal agreement with
Mr. Timmins because that is not the typical practice in the mineral  exploration
sector.  The costs of Mr.  Timmins's  services are included in his phase one and
phase two budgets.

Following receipt of the phase two exploration  results, we will ask Mr. Timmins
to prepare a recommendation for further  exploration work on the Upper Ross Lake
claims and to provide us with a proposed budget for such work.

We do not expect to earn any revenues  from the Upper Ross Lake claim unless and
until we identify economic  mineralization.  This will likely not occur until we
complete  the  phase  one  and two  exploration  programs,  as  well as  several
successive drill programs.  Drill programs involve extracting a long cylinder of
rock from the ground to determine amounts of metals at different depths.  Pieces
of the rock  obtained,  known as drill core,  are analysed for mineral  content.
This allows us to determine  the extent of  mineralization  below the surface of
the  claims.  Our  objective  is  to  discover  sub-surface   mineralization  in
sufficient  quantities  to  justify  operating  the  claims  as a mine.  This is
determined by the amount, grade and depth of mineralization discovered, if any.

As well, we  anticipate  spending an additional  $15,000 on  professional  fees,
including  fees payable in connection  with the filing of this annual report and
complying with reporting obligations, and general administrative costs.

Total expenditures over the next 12 months are therefore expected to be $30,000.
We will not realize any revenue from our  operations in the next 12 months.  Our
cash on hand as of August 31, 2006 was $3,530.

Our  cash  reserves  are not  sufficient  to meet our  obligations  for the next
twelve-month period. As a result, we will need to seek additional funding in the
near future. We currently do not have a specific plan of how we will obtain such
funding;  however,  we anticipate that additional funding will be in the form of
equity  financing from the sale of our common stock.  We may also seek to obtain
short-term loans from our directors, although no such arrangement has been made.

<page>

At this time, we cannot  provide  investors  with any assurance  that we will be
able to raise sufficient  funding from the sale of our common stock or through a
loan from our directors to meet our obligations over the next twelve months.  We
do not have any  arrangements  in place for any  future  equity  financing.  Our
directors  have  indicated  that they are  prepared to loan us up to $50,000 for
operations,  though they have no obligations in this regard. Such loans would be
unsecured, non-interest bearing loans with no fixed terms of repayment.

If we are unable to raise  sufficient  capital,  we may also consider  selling a
portion of the Upper Ross Lake  property to a third  party in exchange  for that
party  paying  us cash  and/or  committing  to  complete  a  certain  amount  of
exploration on the property.  We have not contacted any third parties  regarding
such an arrangement.

Results of Operations For Period Ending August 31, 2006

We did not earn any revenues in the three-month period ended August 31, 2006. We
do not anticipate earning revenues unless we enter into commercial production on
the Upper Ross Lake mineral property, which is doubtful.

We  incurred  operating  expenses  in the amount of $4,520  for the  three-month
consisting of accounting and audit fees of $4,005,  filing fees of $492 and bank
charges and interest of $23.

Our net  loss  for the  three-month  period  ended  August  31,  2006  increased
substantially  from the comparative period in fiscal 2005 (2006:  $4,520;  2005:
$1,946) primarily due to an increase in accounting and audit fees.

At August 31, 2006, we had total assets of $4,097,  consisting of $3,530 in cash
and $567 in prepaid  expense.  At the same date,  our  liabilities  consisted of
accounts payable and accrued  liabilities of $11,200 and a loan payable from one
of our director for $19,550.

We have not attained  profitable  operations  and are dependent  upon  obtaining
financing  to pursue  exploration  activities.  For these  reasons our  auditors
believe  that there is  substantial  doubt that we will be able to continue as a
going concern.

Item 3 Controls and Procedures

Evaluation of Disclosure Controls

We evaluated the  effectiveness of our disclosure  controls and procedures as of
August 31, 2006.  This  evaluation  was  conducted by Steven  Bolton,  our chief
executive officer and Bryan Markert, our principal accounting officer.

Disclosure  controls  are  controls  and other  procedures  that are designed to
ensure that  information that we are required to disclose in the reports we file
pursuant  to  the  Securities  Exchange  Act of  1934  is  recorded,  processed,
summarized and reported.

Limitations on the Effective of Controls

Our  management  does not expect that our  disclosure  controls or our  internal
controls over  financial  reporting  will prevent all error and fraud. A control
system, no matter how well conceived and operated,  can provide only reasonable,

<page>

but no absolute,  assurance  that the  objectives  of a control  system are met.
Further, any control system reflects limitations on resources,  and the benefits
of a control system must be considered  relative to its costs. These limitations
also include the realities that judgments in  decision-making  can be faulty and
that  breakdowns  can occur  because of simple  error or mistake.  Additionally,
controls  can be  circumvented  by the  individual  acts  of  some  persons,  by
collusion of two or more people or by management override of a control. A design
of a control  system is also  based upon  certain  assumptions  about  potential
future conditions;  over time, controls may become inadequate because of changes
in conditions,  or the degree of compliance  with the policies or procedures may
deteriorate.  Because of the inherent  limitations in a  cost-effective  control
system, misstatements due to error or fraud may occur and may not be detected.

Conclusions

Based upon their evaluation of our controls,  Steven Bolton, our chief executive
officer and Bryan  Markert,  our principal  accounting  officer,  have concluded
that,  subject to the  limitations  noted  above,  the  disclosure  controls are
effective providing  reasonable  assurance that material information relating to
us is made known to  management  on a timely  basis  during the period  when our
reports are being prepared.  There were no changes in our internal controls that
occurred  during  the  quarter  covered  by this  report  that  have  materially
affected, or are reasonably likely to materially affect our internal controls.

PART II- OTHER INFORMATION


Item 1. Legal Proceedings

The Company is not a party to any pending  legal  proceeding.  Management is not
aware of any threatened litigation, claims or assessments.


Item 2. Changes in Securities

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 Report on Form 8-K

 31.1     Certification pursuant to 18 U.S.C. Section 1350, as adopted
          pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
 31.2     Certification pursuant to 18 U.S.C. Section 1350, as adopted
          pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 32.1     Certification pursuant to 18 U.S.C. Section 1350, as adopted
          pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 32.2     Certification pursuant to 18 U.S.C. Section 1350, as adopted
          pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

We did not file any current reports on Form 8-K during the period.


SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

November 9, 2006


Quorum Ventures, Inc.


/s/ Steven Bolton
------------------------------
Steven Bolton, President