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

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| Large accelerated filer o | Accelerated filer o |
|---------------------------|---------------------|

| Non-accelerated filer  o | Smaller reporting company  x |
|------------------------------------|----------------------------------------|

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| Item 1.                      | Financial Statements                                        |  F-1 |
|------------------------------|-------------------------------------------------------------|-----------|
|                         |                                                        |      |
| Item 2                       | Management's Discussion and Analysis or Plan of Operations  |  1   |
|                         |                                                        |      |
| Item 3                       | Quantitative and Qualitative Disclosures About Market Risk  |  5   |
|                         |                                                        |      |
| Item 4T.                     | Controls and Procedures                                     |  5   |
|                         |                                                        |      |
|                         |                                                        |
| PART II. - OTHER INFORMATION |
|                         |                                                        |      |
| Item 1                       | Legal Proceedings                                           |  6   |
|                         |                                                        |      |
| Item 1A.                     | Risk Factors                                                |  6   |
|                         |                                                        |      |
| Item 2                       | Unregistered Sales of Equity Securities and Use of Proceeds |  6   |
|                         |                                                        |      |
| Item 3                       | Defaults Upon Senior Securities                             |  6   |
|                         |                                                        |      |
| Item 4                       | Submission of Matters to a Vote of Security Holders         |  6   |
|                         |                                                        |      |
| Item 5                       | Other Information                                           |  6   |
|                         |                                                        |      |
| Item 6                       | Exhibits                                                    |  6   |
|                         |                                                        |      |
| SIGNATURES                   |                                                        |  7   |
|                         |                                                        |      |
| EXHIBITS                     |                                                        |      |

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| Balance Sheet                       | F-2       |
|------------------------------------------|-----------|
|                                     |      |
| Statements of Operations                 | F-3       |
|                                     |      |
| Statements of Stockholders’ Equity | F-4       |
|                                     |      |
| Statements of Cash Flows            | F-5       |
|                                     |      |
| Notes to Financial Statement             | F-6 - F-7 |

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|                                                                                                                                            |   | March 31, 2011 |     |   | June 30, 2010 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|----------|--------|---------------|--------|
|                                                                                                                                            |   | (Unaudited)    |     |   |          |   |
| ASSETS                                                                                                                                          |   |           |     |   |          |   |
| CURRENT ASSETS                                                                                                                                  |   |           |     |   |          |   |
|   Cash                                                                                                                                |   | $              | 3,571    |   |          | $      | 13,545 |   |
|  Prepaid expenses                                                                                                                          |   |           | 0        |   |          |   | 3,750 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
|           Total current assets                                                                |   |           | 3,571    |   |          |   | 17,295 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
| OTHER ASSETS                                                                                                                                    |   |           |     |   |          |   |   |   |
|    Other assets                                                                                                                  |   |           | 0        |   |          |   | 0 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
|           Total other assets                                                                  |   |           | 0        |   |          |   | 0 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
| Total Assets                                                                                                                                    |   | $              | 3,571    |   |          | $      | 17,295 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                      |   |           |     |   |          |   |   |   |
| CURRENT LIABILITIES                                                                                                                             |   |           |     |   |          |   |   |   |
|     Accounts payable and accrued  liabilities                                                                     |   | $              | 0        |   |          | $      | 0 |   |
|     Accrued interest on line of credit payable                                                                              |   |           | 6,124    |   |          |   | 3,270 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
|           Total current liabilities                                                           |   |           | 6,124    |   |          |   | 3,270 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
| LONG-TERM LIABILITIES                                                                                                                           |   |           |     |   |          |   |   |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
|     Long-term line of credit payable                                                                                        |   |           | 50,000   |   |          |   | 30,000 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
|           Total long-term liabilities                                                         |   |           | 50,000   |   |          |   | 30,000 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
| Total Liabilities                                                                                                                               |   |           | 56,124   |   |          |   | 33,270 |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
| STOCKHOLDERS’ EQUITY                                                                                                                      |   |           |     |   |          |   |   |   |
|   Common stock, $0.001 par value, authorized 500,000,000 shares;      29,429,232 issued and outstanding |   |           | 29,429   |   |          |   | 29,429 |   |
|   Additional paid-in capital                                                                                                          |   |           | 295,487  |   |          |   | 295,487 |   |
|   Deficit accumulated during the development stage                                                                                    |   |           | (377,469 | )      |          |   | (340,891 | ) |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
|           Total stockholders’ equity                                                    |   |           | (52,553  | )      |          |   | (15,975 | ) |
|                                                                                                                                            |   |           |     |   |          |   |   |   |
| Total Liabilities and  Stockholders’ Equity                                                                                     |   | $              | 3,571    |   |          | $      | 17,295 |   |

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|                                                                       |   |   Three Months |       |   |   Nine Months |   |       | Period from Feb 24, 2004(Inception)through |   |
|----------------------------------------------------------------------------|--------|--------------------------|------------|--------|-------------------------|--------|------------|--------------------------------------------|--------|
|                                                                       |   | 2011                     |       |   | 2010                    |   |       | 2011                                       |   |   | 2010 |   |   | March 31, 2011 |   |
|                                                                       |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |
|                                                                       |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |
| REVENUES                                                                   |   | $                        | 0          |   |                    | $      | 0          |                                       |   | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |   |
|                                                                       |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING EXPENSES                                                         |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|    General and administrative                               |   |                     | 3,267      |   |                    |   | 202,616    |                                       |   |   | 8,491 |   |   |   | 208,271 |   |   |   | 304,449 |   |
|    Professional fees                                        |   |                     | 11,958     |   |                    |   | 1,000      |                                       |   |   | 24,733 |   |   |   | 15,250 |   |   |   | 52,858 |   |
|    Interest expense                                         |   |                     | 1,159      |   |                    |   | 2,023      |                                       |   |   | 3,162 |   |   |   | 5,682 |   |   |   | 20,162 |   |
|                                                                       |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|           Total expenses |   |                     | 16,384     |   |                    |   | 205,639    |                                       |   |   | 36,386 |   |   |   | 229,203 |   |   |   | 377,469 |   |
|                                                                       |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                   |   | $                        | (16,384    | )      |                    | $      | (205,639   | )                                          |   | $ | (36,386 | ) |   | $ | (229,203 | ) |   | $ | (377,469 | ) |
|                                                                       |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic net loss per weighted average share                                  |   | $                        | ( 0.01     | )      |                    | $      | ( 0.01     | )                                          |   | $ | ( 0.01 | ) |   | $ | ( 0.01 | ) |   |   |   |   |
|                                                                       |   |                     |       |   |                    |   |       |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of shares                                          |   |                     | 29,429,232 |   |                    |   | 20,340,632 |                                       |   |   | 29,429,232 |   |   |   | 20,340,632 |   |   |   |   |   |

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|                            |   |    Number ofShares |       |   |    CommonStock |   |   |   AdditionalPaid-in Capital |   |   | DeficitAccumulatedDuring theDevelopmentStage |   |   |   TotalStockholders’Equity |    |
|---------------------------------|--------|-----------------------------------|------------|--------|-------------------------------|--------|--------|---------------------------------------|--------|--------|----------------------------------------------|--------|--------|--------------------------------------------|---------|
|                            |   |                              |       |   |                          |   |   |                                  |   |   |                                         |   |   |                                       |    |
| BEGINNING BALANCE, July 1, 2005 |   |                              | 34,030,390 |   |                          | $      | 34,030 |                                  |   | $      | 0                                            |   |   | $                                          | (34,030 | ) |   | $ | 0 |   |
|                            |   |                              |       |   |                          |   |   |                                  |   |   |                                         |   |   |                                       |    |   |   |   |   |   |
| Net loss                        |   |                              | 0          |   |                          |   | 0      |                                  |   |   | 0                                            |   |   |                                       | (8,582  | ) |   |   | (8,582 | ) |
|                            |   |                              |       |   |                          |   |   |                                  |   |   |                                         |   |   |                                       |    |   |   |   |   |   |
| BALANCE, June 30, 2006          |   |                              | 34,030,390 |   |                          |   | 34,030 |                                  |   |   | 0                                            |   |   |                                       | (42,612 | ) |   |   | (8,582 | ) |

| Net loss                                    |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (8,205   | )      |   |   | (8,205   | )      |
|---------------------------------------------|--------|--------|-------------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|----------|--------|--------|--------|----------|--------|
|                                        |   |   |        |   |   |   |    |   |   |   |    |   |   |   |     |   |   |   |     |   |
| BALANCE, June 30, 2007                      |   |   | 34,030,390  |   |   |   | 34,030  |   |   |   | 0       |   |   |   | (50,817  | )      |   |   | (16,787  | )      |
| 1 for 100 reverse split                     |   |   | (33,690,086 | )      |   |   | (33,690 | )      |   |   | 33,690  |   |   |   | 0        |   |   |   | 0        |   |
| Net loss                                    |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (24,549  | )      |   |   | (24,549  | )      |
|                                        |   |   |        |   |   |   |    |   |   |   |    |   |   |   |     |   |   |   |     |   |
| BALANCE, June 30, 2008                      |   |   | 340,304     |   |   |   | 340     |   |   |   | 33,690  |   |   |   | (75,366  | )      |   |   | (41,336  | )      |
| Net loss                                    |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (26,083  | )      |   |   | (26,083  | )      |
| BALANCE, June 30, 2009                      |   |   | 340,304     |   |   |   | 340     |   |   |   | 33,690  |   |   |   | (101,449 | )      |   |   | (67,419  | )      |
| Shares issued for services                  |   |   | 20,000,000  |   |   |   | 20,000  |   |   |   | 180,000 |   |   |   | 0        |   |   |   | 200,000  |   |
| shares issued to settle debt & interest |   |   | 9,088,600   |   |   |   | 9,089   |   |   |   | 81,797  |   |   |   | 0        |   |   |   | 90,886   |   |
| Net loss                                    |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (239,634 | )      |   |   | (239,634 | )      |
| BALANCE, June 30, 2010                      |   |   | 29,428,904  |   |   |   | 29,429  |   |   |   | 295,487 |   |   |   | (341,083 | )      |   |   | (16,167  | )      |
| Net loss                                    |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (36,386  | )      |   |   | (36,386  | )      |
| ENDING BALANCE, March 31, 2011 (unaudited)  |   |   | 29,428,904  |   |   | $      | 29,429  |   |   | $      | 295,487 |   |   | $      | (377,469 | )      |   | $      | (52,553  | )      |

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|                                                                                               |   |    2011 |    |   |    2010 |   |     | Cumulative from February 24, 2004 (inception) to March 31, 2011 |   |
|----------------------------------------------------------------------------------------------------|--------|------------------------|---------|--------|------------------------|--------|----------|----------------------------------------------------------------------|--------|
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                              |   |                   |    |   |                   |   |     |                                                                 |   |
| Net loss                                                                                           |   | $                      | (36,386 | )      |                   | $      | (229,203 | )                                                                    |   | $ | (377,469 | ) |
| Adjustments to reconcile net loss to net cash used by    operating activities: |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
|         Common stock issued for services                   |   |                   | 0       |   |                   |   | 200,000  |                                                                 |   |   | 225,000 |   |
| Changes in operating assets and liabilities                                                        |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
|         (Increase) decrease in prepaid expenses            |   |                   | 3,750   |   |                   |   | 0        |                                                                 |   |   | 0 |   |
|         Increase (decrease) in accounts payable - trade    |   |                   | 0       |   |                   |   | 0        |                                                                 |   |   | 0 |   |
|         Increase (decrease) in accrued interest            |   |                   | 3,162   |   |                   |   | 5,682    |                                                                 |   |   | 20,162 |   |
|                                                                                               |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| Net cash provided (used) by operating activities                                                   |   |                   | (29,474 | )      |                   |   | (23,521  | )                                                                    |   |   | (132,307 | ) |
|                                                                                               |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                              |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
|  Deposit on options                                                                           |   |                   | 0       |   |                   |   | 0        |                                                                 |   |   | 0 |   |
|                                                                                               |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| Net cash provided (used) by investing activities                                                   |   |                   | 0       |   |                   |   | 0        |                                                                 |   |   | 0 |   |
|                                                                                               |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                              |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| Common stock issued for cash                                                                       |   |                   | 0       |   |                   |   | 0        |                                                                 |   |   | 9,030 |   |
| Proceeds from line of credit payable                                                               |   |                   | 19,500  |   |                   |   | 40,000   |                                                                 |   |   | 126,848 |   |
| Payments on line of credit payable                                                                 |   |                   | 0       |   |                   |   | 0        |                                                                 |   |   | 0 |   |
|                                                                                               |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| Net cash provided by financing activities                                                          |   |                   | 19,500  |   |                   |   | 40,000   |                                                                 |   |   | 135,878 |   |
|                                                                                               |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| Net increase (decrease) in cash                                                                    |   |                   | (9,974  | )      |                   |   | 16,479   |                                                                 |   |   | 3,571 |   |
|                                                                                               |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| CASH, beginning of period                                                                          |   |                   | 13,545  |   |                   |   | 0        |                                                                 |   |   | 0 |   |
|                                                                                               |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| CASH, end of period                                                                                |   | $                      | 3,571   |   |                   | $      | 16,479   |                                                                 |   | $ | 3,571 |   |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                                                  |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
| Non-Cash Financing Activities:                                                                     |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |
|   None                                                                                   |   |                   |    |   |                   |   |     |                                                                 |   |   |   |   |

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|   | First Quantum Ventures, Inc. |                                 |
|--------|------------------------------|--------------------------------------|
|   |                         |                                 |   |
|   | By:                          | /s/ Andrew Godfrey              |   |
|   |                         | Andrew Godfrey                       |   |
|   |                         | Chief Executive Officer,             |   |
|   |                         | President and Chairman of the Board* |   |

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