U.S.
SECURITIES AND EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q





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





For
the quarterly period ended September 30, 2009





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





For the
transition period from





Commission
File No. 333-143970





STEELE
RECORDING CORPORATION


(Exact
name of small business issuer as specified in its charter)





Nevada
            75-3232682(State
      or other jurisdiction of incorporation or organization)
            (I.R.S.
      Employer Identification No.)





3504
South 5175 West, Cedar City, Utah 84720


(Address
of Principal Executive Offices)





(435)
592-5553


(Issuer’s
telephone number)





None


(Former
name, address and fiscal year, if changed since last report)





Check
whether the issuer (1) has filed all reports required to be filed by Section 13
or 15(d) of the Exchange Act 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
[X]   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,” “non-accelerated filer,” and “smaller reporting company” in
Rule 12b-2 of the Exchange Act.





[   ]  Large
      accelerated filer
            [   ]  Accelerated
      filer[   ]  Non-accelerated
      filer
            [X]  Smaller
      reporting company





APPLICABLE
ONLY TO CORPORATE ISSUERS:





State the
number of shares outstanding of each of the issuer’s classes of common equity,
as of December 23, 2009:  12,220,000 shares of common
stock.





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





Transitional
Small Business Disclosure Format (Check One) Yes
[   ]   No [X]









PART I – FINANCIAL INFORMATION





Item 1.  Financial Statements





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





Item 4.  Control and Procedures





PART II – OTHER INFORMATION





Item 1.  Legal Proceedings





Item 2.  Changes in Securities





Item 3.  Defaults Upon Senior Securities





Item 4.  Submission of Matters to a Vote of Security
Holders





Item 5.  Other Information





Item 6.  Exhibits and Reports on Form 8-K





SIGNATURE











PART I – FINANCIAL INFORMATION





Item 1.  Financial
Information





BASIS
OF PRESENTATION





The
accompanying reviewed financial statements are presented in accordance with
generally accepted accounting principles for interim financial information and
the instructions to Form 10-Q and item 310 under subpart A of Regulation
S-B.  Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements.  In the opinion of management, all adjustments
(consisting only of normal occurring accruals) considered necessary in order to
make the financial statements not misleading, have been
included.  Operating results from inception (February 12, 2007) and
nine months ended September 30, 2009 are not necessarily indicative of results
that may be expected for the year ending December 31, 2009.  The
financial statements are presented on the accrual basis.





2


FINANCIAL
STATEMENTS





STEELE
RECORDING CORPORATION





Table
of Contents








PAGECONSOLIDATED BALANCE SHEETS
            F-1CONSOLIDATED STATEMENTS OF OPERATIONS
            F-2CONSOLIDATED STATEMENTS OF CASH FLOWS
            F-3FOOTNOTES TO CONSOLIDATED FINANCIAL
      STATEMENTS
            F-4















































3





STEELE
RECORDING CORPORATION


(A
Development Stage Company)





Consolidated balance sheets








ASSETS
            
            September
      30, 2009
            
            
            December
      31, 2008Current
      assets:Cash
      and cash equivalents
            
            $
            254
            
            
            $
            4,088Prepaid
      professional fee, net
            
            
            8,000
            
            
            
            -Total
      current assets
            
            
            8,254
            
            
            
            4,088Total
      Assets
            
            $
            8,254
            
            
            $
            4,088LIABILITIES
      AND STOCKHOLDERS' (DEFICIT)Current
      liabilities:Accounts
      payable and accrued expenses
            
            $
            1,893
            
            
            $
            -Advance
      from shareholder
            
            
            38,000
            
            
            
            21,500Total
      current liabilities
            
            
            39,893
            
            
            
            21,500Commitments
      and contingencies
            
            
            -
            
            
            
            -Stockholders'
      (deficit)Preferred
      stock; $.001 par value, 5,000,000 sharesauthorized,
      zero shares issued and outstanding
            
            
            -
            
            
            
            -Common
      stock; $.001 par value, 900,000,000 shares authorized;12,220,000
      and 12,120,000  shares issued and outstanding
            
            
            12,220
            
            
            
            12,120Additional
      paid-in-capital
            
            
            17,980
            
            
            
            10,080Accumulated
      (deficit) during the development stage
            
            
            (61,339
            )
            
            
            (39,112
            )(31,139
            )
            
            
            (16,912
            )Less:
      Stock issued for receivable
            
            
            (500
            )
            
            
            (500
            )Total
      stockholders' (deficit)
            
            
            (31,639
            )
            
            
            (17,412
            )Total
      Liabilities and Stockholders' (Deficit)
            
            $
            8,254
            
            
            $
            4,088





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





F-1


4





STEELE
RECORDING CORPORATION


(A
Development Stage Company)





Consolidated statements of operations








(Unaudited)(Unaudited)
            
            
            (Unaudited)
            
            
            (Unaudited)
            
            
            (Unaudited)
            
            
            Februray
      12, 2007For
      the three
            
            
            For
      the three
            
            
            For
      the nine
            
            
            For
      the nine
            
            
            (date
      of inception)months
      ended
            
            
            months
      ended
            
            
            months
      ended
            
            
            months
      ended
            
            
            throughSeptember
      30, 2009
            
            
            September
      30, 2008
            
            
            September
      30, 2009
            
            
            September
      30, 2008
            
            
            September
      30, 2009Revenues
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -Operating
      expensesGeneral
      administrative
            
            
            4,917
            
            
            
            2,431
            
            
            
            22,227
            
            
            
            10,592
            
            
            
            61,345Total
      operating expenses
            
            
            4,917
            
            
            
            2,431
            
            
            
            22,227
            
            
            
            10,592
            
            
            
            61,345(Loss)
      from operations
            
            
            (4,917
            )
            
            
            (2,431
            )
            
            
            (22,227
            )
            
            
            (10,592
            )
            
            
            (61,345
            )Other
      income (expense)Other
      income
            
            
            -
            
            
            
            6
            
            
            
            -
            
            
            
            6
            
            
            
            6Other
      expense
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -Total
      other income (expenses)
            
            
            -
            
            
            
            6
            
            
            
            -
            
            
            
            6
            
            
            
            6(Loss)
      before provision for income taxes
            
            
            (4,917
            )
            
            
            (2,425
            )
            
            
            (22,227
            )
            
            
            (10,586
            )
            
            
            (61,339
            )Provision
      for Income Taxes
            
            
            -
            
            
            
            6
            
            
            
            -
            
            
            
            6
            
            
            
            -Net
      (loss)
            
            $
            (4,917
            )
            
            $
            (2,419
            )
            
            $
            (22,227
            )
            
            $
            (10,580
            )
            
            $
            (61,339
            )Basic
      and diluted loss per common share
            
            $
            (0.01
            )
            
            $
            (0.01
            )
            
            $
            (0.01
            )
            
            $
            (0.01
            )Basic
      and diluted weighted averagecommon
      shares outstanding
            
            
            1,217,435
            
            
            
            12,008,750
            
            
            
            12,121,832
            
            
            
            11,165,410





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





F-2


5





STEELE
RECORDING CORPORATION


(A
Development Stage Company)





Consolidated statements of cash flows








(Unaudited)(Unaudited)
            
            
            (Unaudited)
            
            
            Februray
      12, 2007For
      the nine
            
            
            For
      the nine
            
            
            (date
      of inception)months
      ended
            
            
            months
      ended
            
            
            throughSeptember
      30, 2009
            
            
            September
      30, 2008
            
            
            September
      30, 2009Operating
      activities:Net
      loss
            
            $
            (22,227
            )
            
            $
            (10,586
            )
            
            $
            (61,339
            )Adjustments
      to reconcile net loss tonet
      cash used in operating activities:Stock
      issued for services
            
            
            8,000
            
            
            
            -
            
            
            
            13,000Changes
      in operating assets and liabilities:Increase
      in accounts payable
            
            
            393
            
            
            
            -
            
            
            
            393Increase
      in accued expenses
            
            
            1,500
            
            
            
            -
            
            
            
            1,500Net
      cash (used in) operating activities
            
            
            (12,334
            )
            
            
            (10,586
            )
            
            
            (46,446
            )Financing
      activities:Advance
      from shareholder
            
            
            16,500
            
            
            
            8,500
            
            
            
            38,000Net
      proceeds from issuance of common stock
            
            
            -
            
            
            
            11,700
            
            
            
            16,700Net
      cash provided by financing activities
            
            
            16,500
            
            
            
            20,200
            
            
            
            54,700Net
      change in cash
            
            
            4,166
            
            
            
            9,614
            
            
            
            8,254Cash,
      beginning of period
            
            
            4,088
            
            
            
            1,184
            
            
            
            -Cash,
      ending of period
            
            $
            8,254
            
            
            $
            10,798
            
            
            $
            8,254Supplemental
      disclosure of cash flow information:Interest
      received
            
            $
            -
            
            
            $
            6
            
            
            $
            6Non
      cash investing and financing activities:Issuance
      of common stock for services
            
            $
            8,000
            
            
            $
            -
            
            
            $
            13,000





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





F-3


6


STEELE
RECORDING CORPORATION





NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS








Note
1 - CONDENSED FINANCIAL STATEMENT





The
accompanying consolidated financial statements have been prepared by the Company
without audit.  In the opinion of management, all adjustments (which
include only normal recurring adjustments) necessary to present fairly the
financial position, results of operations, and cash flows at September 30, 2009,
and for all periods presented herein, have been made.





Certain
information and footnote disclosures normally included in financial statements
prepared in accordance with accounting principles generally accepted in the
United States of America have been condensed or omitted.  It is
suggested that these condensed consolidated financial statements be read in
conjunction with the financial statements and notes thereto included in the
Company’s December 31, 2008 audited financial statements.  The results
of operations for the periods ended September 30, 2009 and 2008 are not
necessarily indicative of the operating results for the full years.





NOTE
2 – NATURE OF BUSINESS AND ORGANIZATION





The board
of directors of Steele Recording Corporation (the “Company”) approved the
organization of Steele Land Investments, LLC (“SLI”) a limited liability Company
in the State of Nevada on March 3, 2009, and SLI is 100% owned subsidiary of
the Company.  SLI’s principal business objective is to provide
centralized management of investments and business activities. SLI’s operations
have been limited to general administrative operations and are considered a
development stage company in accordance with Statement of Financial Accounting
Standards No. 7.




NOTE
3 – GOING CONCERN





The
Company’s consolidated financial statements are prepared using generally
accepted accounting principles in the United States of America applicable to a
going concern which contemplates the realization of assets and liquidation of
liabilities in the normal course of business. The Company has not yet
established an ongoing source of revenues sufficient to cover its operating
costs and allow it to continue as a going concern. The ability of the Company to
continue as a going concern is dependent on the Company obtaining adequate
capital to fund operating losses until it becomes profitable. If the Company is
unable to obtain adequate capital, it could be forced to cease
operations.





In order
to continue as a going concern, the Company will need, among other things,
additional capital resources. Management’s plan is to obtain such resources for
the Company by obtaining capital from management and significant shareholders
sufficient to meet its minimal operating expenses and seeking equity and/or debt
financing. However management cannot provide any assurances that the Company
will be successful in accomplishing any of its plans.





The
ability of the Company to continue as a going concern is dependent upon its
ability to successfully accomplish the plans described in the preceding
paragraph and eventually secure other sources of financing and attain profitable
operations. The accompanying financial statements do not include any adjustments
that might be necessary if the Company is unable to continue as a going
concern.





F-4


7





NOTE
4 - BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION





The
consolidated financial statements have been derived from the financial
statements and accounting records of the Company, using the historical results
of operations, and historical basis of assets and liabilities of the
Company.  Management believes the assumptions underlying the
consolidated financial statements are reasonable.





The
consolidated financial statements include the accounts and transaction of the
Company and its wholly owned subsidiary, Steele Land Investments, LLC that is
currently controlled by the Company.  All intercompany accounts and
transactions have been eliminated in the consolidated financial statements in
conformity with U.S. generally accepted accounting principles.





NOTE
5 - RELATED PARTY TRANSACTIONS





For the
nine months ended September 30, 2009, advance from president/ shareholder was
$16,500.





NOTE
6 – STOCKHOLDERS’ EQUITY





In May
2009, the Company amended its articles of incorporation to increase the amount
of authorized capital to 900,000,000 shares of common stock and 5,000,000 shares
of preferred stock at par value of $0.001.





On
September 23, 2009 the Company issued 100,000 shares of restricted shares of the
Company’s common stock to Island Stock Transfer for professional services to be
performed over the next few months valued at $8,000.





NOTE
7 – PRE-PAID EXPENSES





On
September 25, 2009, the Company issues island Stock Transfer Company 100,000
shares of restricted common stock valued at $8,000 for transfer agent services
over the next few months.





NOTE
8 – SUBSEQUENT EVENTS





There are
no subsequent events incurred by the Company as of December, 23,
2009.











F-5


8





Item 2. Management’s Discussion and Analysis of Financial Conditions
and Results of Operations





Plan of
Operation





On July
18, 2007 we received approval from the Securities and Exchange Commission of our
Registration Statement on Form SB-2 wherein we registered 3,000,000 shares of
our $.001 common stock in order to raise $30,000.00 as our initial capital prior
to filing an application with the NASD on Form 211 to be listed on a public
exchange




Results of
Operation





The
Company did not have any operating income from inception (February 12, 2007)
through September 30, 2009. For the quarter ended September 30, 2009, the
registrant recognized a net loss of $4,917. Some general and administrative
expenses during the year were accrued. Expenses for the year were comprised of
costs mainly associated with legal, accounting and office.





Liquidity and Capital
Resource








Critical Accounting
Policies





Steele
Recording Corporation’s financial statements and related public financial
information are based on the application of accounting principles generally
accepted in the United States (“GAAP”). GAAP requires the use of estimates;
assumptions, judgments and subjective interpretations of accounting principles
that have an impact on the assets, liabilities, revenue and expense amounts
reported. These estimates can also affect supplemental information contained in
our external disclosures including information regarding contingencies, risk and
financial condition.  We believe our use if estimates and underlying
accounting assumptions adhere to GAAP and are consistently and conservatively
applied. We base our estimates on historical experience and on various other
assumptions that we believe to be reasonable under the circumstances. Actual
results may differ materially from these estimates under different assumptions
or conditions. We continue to monitor significant estimates made during the
preparation of our financial statements.





9


Our
significant accounting policies are summarized in Note 1 of our financial
statements.  While all these significant accounting policies impact
its financial condition and results of operations, Steele Recording
Corporations’ views certain of these policies as critical. Policies determined
to be critical are those policies that have the most significant impact on the
Company’s consolidated financial statements and require management to use a
greater degree of judgment and estimates. Actual results may differ from those
estimates. Our management believes that given current facts and circumstances,
it is unlikely that applying any other reasonable judgments or estimate
methodologies would cause effect on our consolidated results of operations,
financial position or liquidity for the periods presented in this
report.





Item 4. Controls and Procedures





(a)
            Evaluation
      of disclosure controls and
procedures.





Our
management is responsible for establishing and maintaining adequate internal
control over financial reporting for the Company. Internal control over
financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under
the Securities Exchange Act of 1934 (Exchange Act) as a process designed by or
under the supervision of, our principal executive and principal financial
officers and effected by our Board of Directors, management and other personnel,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles and includes those policies and
procedures that:





Pertain
to the maintenance of records that is in reasonable detail accurately and fairly
reflect the transactions and dispositions of our assets





Provide
reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the Company are
being made only in  accordance with authorizations of our management
and directors: and





Provide
reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of the Company’s assets that could have a
material effect on the financial statements.





Because
of its inherent limitations, internal control over financial reporting may not
prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.





10


Management
assessed the effectiveness of the Company’s Internal Control over financial
reporting as of September 30, 2009. In making this assessment, management used
the criteria set forth by the Committee of Sponsoring Organizations of the
Treadway Commission in this Internal Control-Integrated Framework.





Base on
our assessment, we believe that, as of September 30, 2009 our internal control
over financial reporting was ineffective.





Evaluation
of Disclosure Controls and Procedures





We
maintain disclosure controls and procedures (as defined in Rules 13a-15(f) and
15d-15(f) under the Exchange Act) that are designed to ensure that information
required to be disclosed in the reports we file or submit under the Exchange Act
is recorded, processed, summarized and reported within the time periods
specified in the SEC’s rules and forms, and that such information is accumulated
and communicated to our management, including our chief executive officer and
chief financial officer, as appropriate to allow timely decisions regarding
disclosure.  In designing and evaluating the disclosure controls and
procedures, management recognized that any controls and procedures, no matter
how well designed and operated, can provide only reasonable assurance of
achieving the desired control objectives, and management necessarily was
required to apply its judgment in evaluating the cost-benefit relationship of
possible controls and procedures.





Our
management, with the participation of our chief executive officer and chief
financial officer, has evaluated the effectiveness of our disclosure controls
and procedures as of September 30, 2009.  Based on their evaluation,
our chief executive officer and chief financial officer have concluded that, as
of September 30, 2009, our disclosure controls and procedures were
ineffective.





(b)            Changes in internal
controls.





There
have not been any changes in the Company’s internal control over financial
reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the
Exchange Act) during the quarter ended September 30, 2009 that have materially
affected, or are reasonably likely to materially affect, the Company’s internal
control over financial reporting.











11


PART II - OTHER INFORMATION





Item 1. Legal Proceedings





The
issuer was named in an amended complaint filed in District Court, Clark County
Nevada, by Phyllis Wynn, individually and as the trustee for the Phyllis Wynn
Family Trust.  The Complaint appears to name approximately 81 defendants
including Steele Recording, Inc.  The Amended Complaint was filed September
23, 2009.  It alleges 17 causes of actions including breach of contract and
fraud against various other defendants and fraudulent conveyance to the Issuer
and its President and CEO Marlon Steele.  The substance of the Complaint
involves a real estate transaction not involving the Issuer.  We do not
believe the Plaintiff will prevail as to her claims regarding Steele Recording
Corporation and have answered with affirmative defenses including but not
limited to the following: the injuries and damages complained of did not occur
as the result of any action on the part of the Issuer but as the sole, direct
and proximate result of actions by Plaintiff and third parties not otherwise
related to the Issuer.


None





Item 2. Changes in Securities.





In May
2009, the Company amended its articles of incorporation to increase the amount
of authorized capital to 900,000,000 shares of common stock and 5,000,000 shares
of preferred stock at par value of $0.001.





On
September 23, 2009 the Company issued 100,000 shares of restricted common stock
to Island Stock Transfer for professional services valued at
$8,000.





Item 3. Defaults Upon Senior Securities.





None





Item 4. Submission of Matters to a Vote of Security
Holders.





None





Item 5. Other Information.





None





Item 6.  Exhibits and Reports on
Form 8-K





(a)           Exhibits





31.1 Certification pursuant to Section
302 of Sarbanes Oxley Act of  2002





32.1 Certification pursuant to Section
906 of Sarbanes Oxley Act of 2002





(b)
            Reports
      on Form 8-K






12








On August
7, 2009, Board of Directors of the Registrant dismissed Moore & Associates
Chartered, its independent registered public account firm. On the same date,
August 7, 2009, the accounting firm of Seale and Beers, CPAs was engaged as the
Registrant’s new independent registered public account firm. The Board of
Directors of the Registrant and the Registrant's Audit Committee approved of the
dismissal of Moore & Associates Chartered and the engagement of Seale and
Beers, CPAs as its independent auditor. None of the reports of Moore &
Associates Chartered on the Company's financial statements for either of the
past two years or subsequent interim period contained an adverse opinion or
disclaimer of opinion, or was qualified or modified as to uncertainty, audit
scope or accounting principles, except that the Registrant's audited financial
statements contained in its Form 10-K for the fiscal year ended August 7, 2009 a
going concern qualification in the registrant’s audited financial
statements.





On August
27, 2009, the PCAOB revoked the registration of Moore & Associates because
of violations of PCAOB rules and auditing standards in auditing the financial
statements, PCAOB rules and quality controls standards, and Section 10(b) of the
Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and noncooperation
with a PCAOB Board investigation.




























13


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.








STEELE
RECORDING CORPORATION








Date:
December 23, 2009





/s/ Mack
Steele


Mack
Steele


President,
Secretary and Director





























14