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

| o | TRANSITION      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE  ACT |
|---|-----------------------------------------------------------------------|

| Nevada                                                                   | 20-4743354                             |
|--------------------------------------------------------------------------|----------------------------------------|
| (State      or other jurisdiction of incorporation      or organization) | (IRS      Employer Identification No.) |

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| PART      I. - FINANCIAL INFORMATION |
|--------------------------------------|
|                                 |   |
|                                 |   |
|                                 |   |
| Item      1                          | Financial      Statements (Unaudited) |
|                                 |   |
|                                 |   |
| Item      2                          | Management's      Discussion and Analysis or Plan of Operations |
|                                 |   |
|                                 |   |
| Item      3                          | Controls      and Procedures |
|                                 |   |
|                                 |   |
| PART      II. - OTHER INFORMATION    |
|                                 |   |
|                                 |   |
| Item      1                          | Legal      Proceedings |
|                                 |   |
|                                 |   |
| Item      2                          | Changes      in securities, use of proceeds and small business issuer of equity      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 |
|                                 |   |

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|                              |   |
|-----------------------------------|--------|
| Balance      Sheet                | F-2    |
|                              |   |
| Statements      of Operations     | F-3    |
|                              |   |
| Statements      of Cash Flows     | F-4    |
|                              |   |
| Notes      to Financial Statement | F-5    |

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|                                                                                                                                                                                   |   | September      30, 2007 |    |   | September      30, 2006 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|---------|--------|-------------------------|--------|
| ASSETS                                                                                                                                                                                 |   |                    |    |   |                    |   |
| CURRENT      ASSETS                                                                                                                                                                    |   |                    |    |   |                    |   |
|   Cash                                                                                                                                                                       |   | $                       | 0       |   |                    | $      | 0 |   |
|   Prepaid      expenses                                                                                                                                                      |   |                    | 0       |   |                    |   | 0 |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
|           Total      current assets                                                                                                  |   |                    | 0       |   |                    |   | 0 |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
| OTHER      ASSETS                                                                                                                                                                      |   |                    |    |   |                    |   |   |   |
|   Licensing      rights                                                                                                                                                      |   |                    | 0       |   |                    |   | 0 |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
|           Total      other assets                                                                                                    |   |                    | 0       |   |                    |   | 0 |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
| Total      Assets                                                                                                                                                                      |   | $                       | 0       |   |                    | $      | 0 |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
| LIABILITIES AND STOCKHOLDERS’      EQUITY                                                                                                                                        |   |                    |    |   |                    |   |   |   |
| CURRENT      LIABILITIES                                                                                                                                                               |   |                    |    |   |                    |   |   |   |
|   Accounts      payable                                                                                                                                                      |   |                    |    |   |                    |   |   |   |
|      Convertible      Note Payable                                                                                                                            |   | $                       | 25,229  |   |                    | $      | 8,272 |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
|           Total      current liabilities                                                                                             |   |                    | 25,229  |   |                    |   | 8,272 |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
| Total      Liabilities                                                                                                                                                                 |   |                    | 25,229  |   |                    |   | 8,272 |   |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
| STOCKHOLDERS’      EQUITY                                                                                                                                                        |   |                    |    |   |                    |   |   |   |
|   Preferred      stock, $0.001 par, authorized 50,000,000 shares, 0 issued      and      outstanding                                           |   |                    | 0       |   |                    |   | 0 |   |
|   Common      stock, $0.001 par value, authorized 500,000,000 shares;      34,030,390      and 34,030,390 issued and outstanding, respectively |   |                    | 34,030  |   |                    |   | 34,030 |   |
|   Additional      paid-in capital in excess of par                                                                                                                           |   |                    | 0       |   |                    |   | 0 |   |
|   Deficit      accumulated during the development stage                                                                                                                      |   |                    | (34,030 | )      |                    |   | (34,030 | ) |
|    Net      loss for the twelve months                                                                                                                                  |   |                    | (25,229 | )      |                    |   | (8,272 | ) |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
|           Total      stockholders’ equity                                                                                      |   |                    | (25,229 | )      |                    |   | (8,272 | ) |
|                                                                                                                                                                                   |   |                    |    |   |                    |   |   |   |
| Total      Liabilities and  Stockholders’ Equity                                                                                                                       |   | $                       | 0       |   |                    | $      | 0 |   |

----

|                                                                            |   | Three      Months EndedSept.      30, 2007 |       |   | Three      Months EndedSept.      30, 2006 |   |       | From February      24, 2004 (Inception) through      Sept. 30, 2007 |   |
|---------------------------------------------------------------------------------|--------|--------------------------------------------|------------|--------|--------------------------------------------|--------|------------|-------------------------------------------------------------------------------|--------|
|                                                                            |   |                                       |       |   |                                       |   |       |                                                                          |   |
| REVENUES                                                                        |   | $                                          | 0          |   |                                       | $      | 0          |                                                                          |   | $ | 0 |   |
|                                                                            |   |                                       |       |   |                                       |   |       |                                                                          |   |   |   |   |
| OPERATING      EXPENSES:                                                        |   |                                       |       |   |                                       |   |       |                                                                          |   |   |   |   |
|    General      and administrative expenses                      |   |                                       | 734        |   |                                       |   | 1,982      |                                                                          |   |   | 35,229 |   |
|    Legal      fees - related party                               |   |                                       | 10,000     |   |                                       |   | 0          |                                                                          |   |   | 10,000 |   |
|    Services      - related party                                 |   |                                       | 0          |   |                                       |   | 0          |                                                                          |   |   | 5,000 |   |
|                                                                            |   |                                       |       |   |                                       |   |       |                                                                          |   |   |   |   |
|           Total      expenses |   |                                       | 10,734     |   |                                       |   | 1,982      |                                                                          |   |   | 50,229 |   |
|                                                                            |   |                                       |       |   |                                       |   |       |                                                                          |   |   |   |   |
| Net      income (loss)                                                          |   | $                                          | (10,734    | )      |                                       | $      | (1,982     | )                                                                             |   | $ | (50,229 | ) |
|                                                                            |   |                                       |       |   |                                       |   |       |                                                                          |   |   |   |   |
| Income      (loss) per weighted average common share                            |   | $                                          | (0.00      | )      |                                       | $      | (0.00      | )                                                                             |   |   |   |   |
|                                                                            |   |                                       |       |   |                                       |   |       |                                                                          |   |   |   |   |
| Number      of weighted average common shares outstanding                       |   |                                       | 34,030,390 |   |                                       |   | 34,030,390 |                                                                          |   |   |   |   |

----

|                                                                                                         |   | Three      Months EndedSept. 30,      2007 |    |   | Three      Months EndedSept. 30,      2006 |   |   | From February      24, 2004(Inception) through      Sept. 30, 2007 |   |
|--------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------|---------|--------|-------------------------------------------------|--------|--------|------------------------------------------------------------------------------|--------|
| CASH FLOWS FROM OPERATING      ACTIVITIES:                                                                   |   |                                            |    |   |                                            |   |   |                                                                         |   |
| Net      loss                                                                                                |   | $                                               | (10,734 | )      |                                            | $      | (1,982 | )                                                                            |   | $ | (25,229 | ) |
| Adjustments      to reconcile net loss to net cash used by operating      activities:                        |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
|         Stock      issued for services                               |   |                                            | 0       |   |                                            |   | 0      |                                                                         |   |   | 25,000 |   |
| Changes      in operating assets and liabilities                                                             |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
|         Increase      (decrease) in accounts payable - trade         |   |                                            | 10,734  |   |                                            |   | 1,982  |                                                                         |   |   | 25,229 |   |
|         Increase      (decrease) in accounts payable - related party |   |                                            | 0       |   |                                            |   | 0      |                                                                         |   |   | 0 |   |
|                                                                                                         |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| Net      cash provided (used) by operating activities                                                        |   |                                            | 0       |   |                                            |   | 0      |                                                                         |   |   | 0 |   |
|                                                                                                         |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| CASH FLOWS FROM INVESTING      ACTIVITIES:                                                                   |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| None                                                                                                         |   |                                            | 0       |   |                                            |   | 0      |                                                                         |   |   | 0 |   |
|                                                                                                         |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| Net      cash provided (used) by investing activities                                                        |   |                                            | 0       |   |                                            |   | 0      |                                                                         |   |   | 0 |   |
|                                                                                                         |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| CASH FLOWS FROM FINANCING      ACTIVITIES:                                                                   |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| Proceeds      from issuance of convertible debt                                                              |   |                                            | 10,734  |   |                                            |   | 1,982  |                                                                         |   |   | 25,229 |   |
|                                                                                                         |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| Net      cash provided by financing activities                                                               |   |                                            | 0       |   |                                            |   | 0      |                                                                         |   |   | 0 |   |
|                                                                                                         |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| Net      increase (decrease) in cash                                                                         |   |                                            | (10,734 | )      |                                            |   | (1,982 | )                                                                            |   |   | (25,229 | ) |
|                                                                                                         |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| CASH, beginning of      period                                                                               |   |                                            | 0       |   |                                            |   | 0      |                                                                         |   |   | 0 |   |
|                                                                                                         |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| CASH, end of      period                                                                                     |   | $                                               | 0       |   |                                            | $      | 0      |                                                                         |   | $ | 0 |   |
| NON CASH FINANCING      ACTIVITIES                                                                           |   |                                            |    |   |                                            |   |   |                                                                         |   |   |   |   |
| Common      stock issued to settle debt                                                                      |   | $                                               | 0       |   |                                            | $      | 0      |                                                                         |   | $ | 9,000 |   |

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| (1) | The Company First      Quantum Ventures, In.. (the Company) is a Nevada chartered development      stage corporation which conducts business from its headquarters in West      Palm Beach, Florida.  The Company was incorporated in Nevada on      April 13, 2006, and is a successor by merger with Cine-Source      Entertainment, Inc., and has elected June 30 as its fiscal year end. The      Company changed its name to First Quantum Ventures, Inc. on February 24,      2004. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c)  Net loss per      share Basic loss per weighted average common share is computed by      dividing the net loss by the weighted average number of common shares      outstanding during the period. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Stockholders’      Equity  The Company has authorized 500,000,000 shares of      $0.001 par value common stock and 50,000,000 shares of $0.001 par value      preferred stock.. The Company had 34,030,390 shares of common stock issued      and outstanding at June 30, 2007.   On April 26, 2004, the      Company completed a 1-fo-200 reverse split of its common stock, leaving      30,390 shares remaining outstanding.  In May 2004 the company      authorized the issuance of 5,000,000 shares of its restricted common stock      to its sole officer and director for services.  In November 2004      the company issued a total of 20,000,000 shares of its common stock to a      third party for capital and other services rendered on behalf of the      company on or before November 2, 2004.  On the same date the      company issued an additional 9,000,000 shares of its common stock in      exchange for settlement and satisfaction of the balance of any      indebtedness of the company.  All such shares were issued at par      value. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Income      Taxes  Deferred income taxes (benefits) are provided for      certain income and expenses which are recognized in different periods for      tax and financial reporting purposes. The Company had net operating loss      carry-forwards for income tax purposes of approximately  $0. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4) | Going Concern Even      though as shown in the accompanying consolidated financial statements, the      Company incurred cumulative net losses totaling $25,229 for the period      ended September 30, 2007, it has a stockholders’ deficit of approximately      $34,030 as of September 30, 2007.  These conditions raise      substantial doubt as to the ability of the Company to continue as a going      concern.  The ability of the Company to continue as a going      concern is dependent upon increasing sales and obtaining additional      capital and financing.  The Companyis |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (4) | Going Concern,      continued  attempting to raise additional funds for the      Company through third parties.  The financial statements do not      include any adjustments that might be necessary if the Company is unable      to continue as a going concern. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Exhibit |                                                                                                                                                                        |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| No.     | Description                                                                                                                                                                 |
|    |                                                                                                                                                                        |
| 31.1    | Certification      of the Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a), as      adopted pursuant to Section 302 of the Sarbanes-Oxley Act of      2002.* |
|    |                                                                                                                                                                        |
| 32.1    | Certification      of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.*      |

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