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, 2008





[   ]   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 September 30, 2008:  12,120,000 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
three months ended September 30, 2008 are not necessarily indicative of results
that may be expected for the year ending December 31, 2008.  The
financial statements are presented on the accrual basis.








2


FINANCIAL
STATEMENTS





STEELE
RECORDING CORPORATION





Table
of Contents








PAGEBALANCE SHEET
            F-1STATEMENT OF OPERATIONS
            F-2STATEMENT OF CASH FLOWS
            F-3FOOTNOTES TO FINANCIAL STATEMENTS
            F-4















































3





STEELE
      RECORDING CORPORATION
              (A
      Development Stage Company)
              
              Balance sheets(Unaudited)ASSETS
            
            September30,
      2008
            
            
            December
      31, 2007Current
      assets:Cash
      and cash equivalents
            
            $
            10,798
            
            
            $
            1,184Total
      current assets
            
            
            10,798
            
            
            
            1,184Total
      Assets
            
            $
            10,798
            
            
            $
            1,184LIABILITIES
      AND STOCKHOLDERS' (DEFICIT)Current
      liabilities:Accounts
      payable and accrued expenses
            
            $
            -
            
            
            $
            -Advance
      from shareholder
            
            
            22,500
            
            
            
            14,000Total
      current liabilities
            
            
            22,500
            
            
            
            14,000Commitments
      and contingencies
            
            
            -
            
            
            
            -Stockholders'
      (deficit)Common
      stock; $.001 par value, 75,000,000 shares authorized;12,120,000
      and 10,000,000  shares issued and outstanding
            
            
            12,120
            
            
            
            10,000Additional
      paid-in-capital
            
            
            10,080
            
            
            
            -Accumulated
      (deficit) during the development stage
            
            
            (33,402
            )
            
            
            (22,816
            )(11,202
            )
            
            
            (12,816
            )Less:
      Stock issued for receivable
            
            
            (500
            )
            
            
            -Total
      stockholders' (deficit)
            
            
            (11,702
            )
            
            
            (12,816
            )Total
      Liabilities and Stockholders' (Deficit)
            
            $
            10,798
            
            
            $
            1,184








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








F-1





4








STEELE
      RECORDING CORPORATION
              (A
      Development Stage Company)
              
              Statements of operations(Unaudited)
            
            
            (Unaudited)(Unaudited)
            
            
            (Unaudited)
            
            
            (Unaudited)
            
            
            February
      12, 2007
            
            
            February
      12, 2007For
      the three
            
            
            For
      the three
            
            
            For
      the nine
            
            
            (date
      of inception)
            
            
            (date
      of inception)months
      ended
            
            
            months
      ended
            
            
            months
      ended
            
            
            through
            
            
            throughSeptember
      30, 2008
            
            
            September
      30, 2007
            
            
            September
      30, 2008
            
            
            September
      30, 2007
            
            
            September
      30, 2008Revenues
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -Operating
      expensesGeneral
      administrative
            
            
            2,431
            
            
            
            2,990
            
            
            
            10,592
            
            
            
            19,547
            
            
            
            33,408Total
      operating expenses
            
            
            2,431
            
            
            
            2,990
            
            
            
            10,592
            
            
            
            19,547
            
            
            
            33,408(Loss)
      from operations
            
            
            (2,431
            )
            
            
            (2,990
            )
            
            
            (10,592
            )
            
            
            (19,547
            )
            
            
            (33,408
            )Other
      income (expense)Other
      income
            
            
            6
            
            
            
            -
            
            
            
            6
            
            
            
            -
            
            
            
            6Other
      expense
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -Total
      other income (expenses)
            
            
            6
            
            
            
            -
            
            
            
            6
            
            
            
            -
            
            
            
            6(Loss)
      before provision for income taxes
            
            
            (2,425
            )
            
            
            (2,990
            )
            
            
            (10,586
            )
            
            
            (19,547
            )
            
            
            (33,402
            )Provision
      for Income Taxes
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            6Net
      (loss)
            
            $
            (2,425
            )
            
            $
            (2,990
            )
            
            $
            (10,586
            )
            
            $
            (19,547
            )
            
            $
            (33,396
            )Basic
      and diluted loss per common share
            
            $
            (0.01
            )
            
            $
            (0.01
            )
            
            $
            (0.01
            )
            
            $
            (0.01
            )
            
            $
            (0.01
            )Basic
      and diluted weighted averagecommon
      shares outstanding
            
            
            11,421,045
            
            
            
            10,000,000
            
            
            
            10,844,891
            
            
            
            10,000,000
            
            
            
            10,429,634











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








F-2





5





STEELE
      RECORDING CORPORATION
              (A
      Development Stage Company)
              
              Statements of cash flows(Unaudited)
            
            
            (Unaudited)(Unaudited)
            
            
            February
      12, 2007
            
            
            February
      12, 2007For
      the nine
            
            
            (date
      of inception)
            
            
            (date
      of inception)months
      ended
            
            
            through
            
            
            throughSeptember
      30, 2008
            
            
            September
      30, 2007
            
            
            September
      30, 2008Operating
      activities:Net
      loss
            
            $
            (10,586
            )
            
            $
            (19,547
            )
            
            $
            (33,402
            )Adjustments
      to reconcile net loss tonet
      cash used in operating activities:Stock
      issued for services
            
            
            -
            
            
            
            5,000
            
            
            
            5,000Changes
      in operating assets and liabilities:Increase
      in accrued expenses
            
            
            -
            
            
            
            -
            
            
            
            -Net
      cash (used in) operating activities
            
            
            (10,586
            )
            
            
            (14,547
            )
            
            
            (28,402
            )Financing
      activities:Advance
      from shareholder
            
            
            8,500
            
            
            
            10,000
            
            
            
            22,500Net
      proceeds from issuance of common stock
            
            
            11,700
            
            
            
            16,700
            
            
            
            16,700Net
      cash provided by financing activities
            
            
            20,200
            
            
            
            26,700
            
            
            
            39,200Net
      change in cash
            
            
            9,614
            
            
            
            12,153
            
            
            
            10,798Cash,
      beginning of period
            
            
            1,184
            
            
            
            -
            
            
            
            -Cash,
      ending of period
            
            $
            10,798
            
            
            $
            12,153
            
            
            $
            10,798Non
      Cash Investing and Financing Activities:Issuance
      of Common Stock for Services
            
            $
            -
            
            
            $
            5,000
            
            
            $
            5,000Supplemental
      disclosure of cash flow information:Interest
      received
            
            $
            6
            
            
            $
            -
            
            
            $
            -











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








F-3





6





STEELE
RECORDING CORPORATION





NOTES TO THE FINANCIAL STATEMENTS








Note
1 - CONDENSED FINANCIAL STATEMENT





The
accompanying 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, 2008, 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 financial statements be read in conjunction with
the financial statements and notes thereto included in the Company’s December
31, 2007 audited financial statements.  The results of operations for
the periods ended September 30, 2008 and 2007 are not necessarily indicative of
the operating results for the full years.





NOTE
2 – GOING CONCERN





The
Company’s 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.





NOTE
3 - RELATED PARTY TRANSACTIONS





As of
September 30, 2008, advances from president/ shareholder was
$22,500.





NOTE
4 – STOCKHOLDERS’ DEFICIT





The
Company initiated a Private Placement in July 2007 for the sale of 3,000,000
shares of common stock to investors at $0.01 per share.  As of September
30, 2008, 2,120,000 shares of common stock subscriptions have been received from
23 investors, raising $12,200 in proceeds, net of $9,000 of offering
costs.








F-4





7




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, 2008. For the quarter ended September 30, 2008, the
registrant recognized a net loss of $2,425. 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





At
September 30, 2008 the Company had no capital resources and will rely upon
the  issuance  of  common  stock  and  additional  capital  contributions  from
shareholders  to  fund  administrative  expenses  pending
full implementation of the Company’s business model.





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.








8





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.






9





Management
assessed the effectiveness of the Company’s Internal Control over financial
reporting as of September 30, 2008. 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, 2008 our internal control
over financial reporting was effective.





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, 2008.  Based on their evaluation,
our chief executive officer and chief financial officer have concluded that, as
of September 30, 2008, our disclosure controls and procedures were
effective.





(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, 2008 that have materially
affected, or are reasonably likely to materially affect, the Company’s internal
control over financial reporting.










10





PART II - OTHER INFORMATION





Item 1. Legal Proceedings





None





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





Item 6.  Exhibits and Reports on Form 8-K





(a)           Exhibits





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





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





(b)
            Reports
      on Form 8-K





No reports on Form 8-K were filed
during the quarter ended September 30, 2008.























11


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:
November 4, 2008





/s/ Mack
Steele


Mack
Steele


President,
Secretary and Director


















































12