----

----

| Nevada                                                        |   | 20-4743354                          |
|---------------------------------------------------------------|--------|-------------------------------------|
| (State or other jurisdiction ofincorporation or organization) |   | (I.R.S. EmployerIdentification No.) |
|                                                          |

----

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

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

|   |   | X | Yes | |  | No |
|--------|-----------------------|-------------------|

----

| 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 |  3   |
|     |                                                       |      |
| Item 4T. | Controls and Procedures                                    |  3   |

| Item 1     | Legal Proceedings                                           |  4 |
|------------|-------------------------------------------------------------|---------|
|       |                                                        |    |
| Item 1A.   | Risk Factors                                                |  4 |
|       |                                                        |    |
| Item 2     | Unregistered Sales of Equity Securities and Use of Proceeds |  4 |
|       |                                                        |    |
| Item 3     | Defaults Upon Senior Securities                             |  4 |
|       |                                                        |    |
| Item 4     | Submission of Matters to a Vote of Security Holders         |  4 |
|       |                                                        |    |
| Item 5     | Other Information                                           |  4 |
|       |                                                        |    |
| Item 6     | Exhibits                                                    |  4 |
|       |                                                        |    |
| SIGNATURES |  5                                                     |
|       |                                                        |    |
| EXHIBITS   |                                                        |    |

----

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

----

|                                                                                                                                            |   | September 30, 2010 |     |   | June 30, 2010 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|----------|--------|---------------|--------|
|                                                                                                                                            |   | (Unaudited)        |     |   |          |   |
| ASSETS                                                                                                                                          |   |               |     |   |          |   |
| CURRENT ASSETS                                                                                                                                  |   |               |     |   |          |   |
|   Cash                                                                                                                                |   | $                  | 5,570    |   |          | $      | 13,545 |   |
|  Prepaid expenses                                                                                                                          |   |               | 0        |   |          |   | 3,750 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
|           Total current assets                                                                |   |               | 5,570    |   |          |   | 17,295 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
| OTHER ASSETS                                                                                                                                    |   |               |     |   |          |   |   |   |
|    Other assets                                                                                                                  |   |               | 0        |   |          |   | 0 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
|           Total other assets                                                                  |   |               | 0        |   |          |   | 0 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
| Total Assets                                                                                                                                    |   | $                  | 5,570    |   |          | $      | 17,295 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                      |   |               |     |   |          |   |   |   |
| CURRENT LIABILITIES                                                                                                                             |   |               |     |   |          |   |   |   |
|     Accounts payable and accrued  liabilities                                                                     |   | $                  | 0        |   |          | $      | 0 |   |
|     Accrued interest on line of credit payable                                                                              |   |               | 4,026    |   |          |   | 3,270 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
|           Total current liabilities                                                           |   |               | 4,026    |   |          |   | 3,270 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
| LONG-TERM LIABILITIES                                                                                                                           |   |               |     |   |          |   |   |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
|     Long-term line of credit payable                                                                                        |   |               | 30,000   |   |          |   | 30,000 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
|           Total long-term liabilities                                                         |   |               | 30,000   |   |          |   | 30,000 |   |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
| Total Liabilities                                                                                                                               |   |               | 34,026   |   |          |   | 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                                                                                    |   |               | (353,372 | )      |          |   | (340,891 | ) |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
|           Total stockholders’ equity                                                    |   |               | (28,456  | )      |          |   | (15,975 | ) |
|                                                                                                                                            |   |               |     |   |          |   |   |   |
| Total Liabilities and  Stockholders’ Equity                                                                                     |   | $                  | 5,570    |   |          | $      | 17,295 |   |

----

|                                                                       |   |      2010 |       |   |   |           ‘2009 |    |   | Cumulative from February 24, 2004 (inception) to Sept 30, 2010 |   |
|----------------------------------------------------------------------------|--------|------------------------------------|------------|--------|--------|------------------------------------------------|---------|--------|---------------------------------------------------------------------|--------|
|                                                                       |   |                               |       |   |   |                                           |    |   |                                                                |   |
| REVENUES                                                                   |   | $                                  | 0          |   |   | $                                              | 0       |   |                                                                | $      | 0 |   |
|                                                                       |   |                               |       |   |   |                                           |    |   |                                                                |   |   |   |
| OPERATING EXPENSES:                                                        |   |                               |       |   |   |                                           |    |   |                                                                |   |   |   |
|    General and administrative expenses                      |   |                               | 2,975      |   |   |                                           | 2,480   |   |                                                                |   | 298,997 |   |
|    Interest expense                                         |   |                               | 756        |   |   |                                           | 1,715   |   |                                                                |   | 25,750 |   |
|    Professional fees                                        |   |                               | 8,750      |   |   |                                           | 9,500   |   |                                                                |   | 28,625 |   |
|                                                                       |   |                               |       |   |   |                                           |    |   |                                                                |   |   |   |
|           Total expenses |   |                               | 12,481     |   |   |                                           | 13,695  |   |                                                                |   | 353,372 |   |
|                                                                       |   |                               |       |   |   |                                           |    |   |                                                                |   |   |   |
|                                                                       |   |                               |       |   |   |                                           |    |   |                                                                |   |   |   |
| Net income (loss)                                                          |   | $                                  | (12,481    | )      |   | $                                              | (13,695 | )      |                                                                | $      | (353,372 | ) |
|                                                                       |   |                               |       |   |   |                                           |    |   |                                                                |   |   |   |
| Income (loss) per weighted average common share                            |   | $                                  | (0.00      | )      |   | $                                              | (0.01   | )      |                                                                |   |   |   |
|                                                                       |   |                               |       |   |   |                                           |    |   |                                                                |   |   |   |
| Number of weighted average common shares outstanding                       |   |                               | 29,429,232 |   |   |                                           | 340,632 |   |                                                                |   |   |   |

----

|                            |   |      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       |   |   |   | (25,891  | )      |   |   | (25,891  | )      |
| BALANCE, June 30, 2009                         |   |   | 340,304     |   |   |   | 340     |   |   |   | 33,690  |   |   |   | (101,257 | )      |   |   | (67,227  | )      |
| 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 |   |   |   | (340,891 | )      |   |   | (15,975  | )      |
| Net loss                                       |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (12,481  | )      |   |   | (12,481  | )      |
| ENDING BALANCE, September 30, 2010 (unaudited) |   |   | 29,428,904  |   |   | $      | 29,429  |   |   | $      | 295,487 |   |   | $      | (353,372 | )      |   | $      | (28,456  | )      |
|                                           |   |   |        |   |   |   |    |   |   |   |    |   |   |   |     |   |   |   |     |   |
|                                           |   |   |        |   |   |   |    |   |   |   |    |   |   |   |     |   |   |   |     |   |

----

|                                                                                               |   |    2010 |    |   |    2009 |   |    | Cumulative from February 24, 2004 (inception) to Sept 30, 2010 |   |
|----------------------------------------------------------------------------------------------------|--------|------------------------|---------|--------|------------------------|--------|---------|---------------------------------------------------------------------|--------|
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                              |   |                   |    |   |                   |   |    |                                                                |   |
| Net loss                                                                                           |   | $                      | (12,481 | )      |                   | $      | (13,695 | )                                                                   |   | $ | (353,372 | ) |
| Adjustments to reconcile net loss to net cash used by    operating activities: |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
|         Common stock issued for services                   |   |                   | 0       |   |                   |   | 0       |                                                                |   |   | 225,000 |   |
| Changes in operating assets and liabilities                                                        |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
|         (Increase) decrease in prepaid expenses            |   |                   | 3,750   |   |                   |   | 0       |                                                                |   |   | 0 |   |
|         Increase (decrease) in accrued interest            |   |                   | 756     |   |                   |   | 1,714   |                                                                |   |   | 17,756 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
| Net cash provided (used) by operating activities                                                   |   |                   | (7,975  | )      |                   |   | (11,981 | )                                                                   |   |   | (110,616 | ) |
|                                                                                               |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
| 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                                                               |   |                   | 0       |   |                   |   | 20,000  |                                                                |   |   | 107,156 |   |
| Payments on line of credit payable                                                                 |   |                   | 0       |   |                   |   | 0       |                                                                |   |   | 0 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
| Net cash provided by financing activities                                                          |   |                   | 0       |   |                   |   | 20,000  |                                                                |   |   | 116,186 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
| Net increase (decrease) in cash                                                                    |   |                   | (7,975  | )      |                   |   | 8,019   |                                                                |   |   | 5,570 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
| CASH, beginning of period                                                                          |   |                   | 13,545  |   |                   |   | 0       |                                                                |   |   | 0 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
| CASH, end of period                                                                                |   | $                      | 5,570   |   |                   | $      | 8,019   |                                                                |   | $ | 5,570 |   |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                                                  |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
| Non-Cash Financing Activities:                                                                     |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |
|   None                                                                                   |   |                   |    |   |                   |   |    |                                                                |   |   |   |   |

----

|   | (a) The Company First Quantum Ventures, Inc.. is a Nevada chartered development stage corporation which conducts business from its headquarters in West Palm Beach, Florida. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) Use of estimates  The financial statements have been prepared in conformity with generally accepted accounting principles.  In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statements of financial condition and revenues and expenses for the year then ended.  Actual results may differ significantly from those estimates. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) Start-up costs  Costs of start-up activities, including organization costs, are expensed as incurred, in accordance with Statement of Position (SOP) 98-5. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

|   |   |
|--------|--------|

----

----

----

----

----

| Exhibit number       | Descriptions                                                                                                 |
|----------------------------------------------------|--------------------------------------------------------------------------------------------------------------|
|                                               |                                                                                                         |
| 31.1                                               | * Certification of the Chief Executive Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002.        |
|                                               |                                                                                                         |
| 31.2                                          | * Certification of the Acting Chief Financial Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002. |
|                                               |                                                                                                         |
| 32.1                                               | * Certification Chief Executive Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002.               |
|                                               |                                                                                                         |
| 32.1                                               | * Certification Acting Chief Financial Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002.        |

----

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