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

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|   | Large      accelerated      filer                  oNon-accelerated      filer               o | Accelerated      filer                            oSmaller      reporting company     x |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Item 1. | Financial      Statements |
|---------|---------------------------|

| Item      2 | Management's      Discussion and Analysis or Plan ofOperations |
|-------------|----------------------------------------------------------------|

| Item      3 | Quantitative      and Qualitative Disclosures About MarketRisk |
|-------------|----------------------------------------------------------------|

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

| Item      1 | Legal      Proceedings |
|-------------|------------------------|

| Item      1A. | Risk      Factors |
|---------------|-------------------|

| Item      2 | Unregistered      Sales of Equity Securities and Use ofProceeds |
|-------------|-----------------------------------------------------------------|

| Item      3 | Defaults      Upon Senior Securities |
|-------------|--------------------------------------|

| Item      4 | Submission      of Matters to a Vote of SecurityHolders |
|-------------|---------------------------------------------------------|

| Item 5 | Other      Information |
|--------|------------------------|

| Item      6 | 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    |
|                                         |   |

----

|                                                                                                                |   | December      31, 2009 |     |   | June      30, 2009 |   |
|---------------------------------------------------------------------------------------------------------------------|--------|------------------------|----------|--------|--------------------|--------|
|                                                                                                                |   | (Unaudited)            |     |   |               |   |
| ASSETS                                                                                                              |
| CURRENT      ASSETS                                                                                                 |   |                   |     |   |               |   |
|         Cash                                                                                              |   | $                      | 95       |   |               | $      | 0 |   |
|         Prepaid expenses                                                                                  |   |                   | 0        |   |               |   | 0 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
|           Total      current assets                               |   |                   | 95       |   |               |   | 0 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
| OTHER      ASSETS                                                                                                   |   |                   |     |   |               |   |   |   |
|    Other      assets                                                                                 |   |                   | 0        |   |               |   | 0 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
|           Total      other assets                                 |   |                   | 0        |   |               |   | 0 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
| Total      Assets                                                                                                   |   | $                      | 95       |   |               | $      | 0 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                           |
| CURRENT      LIABILITIES                                                                                            |   |                   |     |   |               |   |   |   |
|     Accounts      payable and accrued  liabilities                                    |   | $                      | 0        |   |               | $      | 0 |   |
|     Accrued      interest on line of credit payable                                             |   |                   | 13,730   |   |               |   | 10,071 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
|           Total      current liabilities                          |   |                   | 13,730   |   |               |   | 10,071 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
| LONG-TERM      LIABILITIES                                                                                          |   |                   |     |   |               |   |   |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
|     Long-term      line of credit payable                                                       |   |                   | 77,156   |   |               |   | 57,156 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
|           Total      long-term liabilities                        |   |                   | 77,156   |   |               |   | 57,156 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
| Total      Liabilities                                                                                              |   |                   | 90,886   |   |               |   | 67,227 |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
|                                                                                                                |   |                   |     |   |               |   |   |   |
| STOCKHOLDERS'      EQUITY                                                                                           |   |                   |     |   |               |   |   |   |
|   Common      stock, $0.001 par value, authorized 500,000,000 shares; 340,632      issued and outstanding |   |                   | 340      |   |               |   | 340 |   |
|   Additional      paid-in capital                                                                         |   |                   | 33,690   |   |               |   | 33,690 |   |
|   Deficit      accumulated during the development stage                                                   |   |                   | (124,821 | )      |               |   | (101,257 | ) |
|                                                                                                                |   |                   |     |   |               |   |   |   |
|           Total      stockholders' equity                         |   |                   | (90,791  | )      |               |   | (67,227 | ) |
|                                                                                                                |   |                   |     |   |               |   |   |   |
| Total      Liabilities and  Stockholders' Equity                                                          |   | $                      | 95       |   |               | $      | 0 |   |

----

|                                                                            |   |   Three      Months |        |   |   Six      Months |   |        | Period      from Feb      24, 2004(Inception)through |   |
|---------------------------------------------------------------------------------|--------|-------------------------------|-------------|--------|-----------------------------|--------|-------------|------------------------------------------------------|--------|
|                                                                            |   | 2009                          |        |   | 2008                        |   |        | 2009                                                 |   |   | 2008 |   |   | Dec      31, 2009 |   |
|                                                                            |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |
|                                                                            |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |
| REVENUES                                                                        |   | $                             | 0           |   |                        | $      | 0           |                                                 |   | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |   |
|                                                                            |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING      EXPENSES                                                         |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|    General      and administrative                               |   |                          | 3,175       |   |                        |   | 3,044       |                                                 |   |   | 5,655 |   |   |   | 4,667 |   |   |   | 87,716 |   |
|    Professional      fees                                        |   |                          | 4,750       |   |                        |   | 0           |                                                 |   |   | 14,250 |   |   |   | 0 |   |   |   | 23,375 |   |
|    Interest      expense                                         |   |                          | 1,944       |   |                        |   | 1,177       |                                                 |   |   | 3,659 |   |   |   | 2,251 |   |   |   | 13,730 |   |
|                                                                            |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|           Total      expenses |   |                          | 9,869       |   |                        |   | 4,221       |                                                 |   |   | 23,564 |   |   |   | 6,918 |   |   |   | 124,821 |   |
|                                                                            |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                            |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss                                                                   |   | $                             | (9,869      | )      |                        | $      | (4,221      | )                                                    |   | $ | (23,564 | ) |   | $ | (6,918 | ) |   | $ | (124,821 | ) |
|                                                                            |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      net loss per weighted average share                                  |   | $                             | (      0.03 | )      |                        | $      | (      0.01 | )                                                    |   | $ | (      0.07 | ) |   | $ | (      0.02 | ) |   |   |   |   |
|                                                                            |   |                          |        |   |                        |   |        |                                                 |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      average number of shares                                          |   |                          | 340,632     |   |                        |   | 340,632     |                                                 |   |   | 340,632 |   |   |   | 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 | )      |
| Net      loss                               |   |   | 0           |   |   |   | 0       |   |   |   | 0      |   |   |   | (23,564  | )      |   |   | (23,564 | )      |
| BALANCE, December 31,      2009 (unaudited) |   |   | 340,304     |   |   | $      | 340     |   |   | $      | 33,690 |   |   | $      | (124,821 | )      |   | $      | (90,791 | )      |

----

|                                                                                                 |   |    2009 |    |   |    2008 |   |   | Cumulative from      February      24, 2004 (inception)      to Dec      31, 2009 |   |
|------------------------------------------------------------------------------------------------------|--------|------------------------|---------|--------|------------------------|--------|--------|----------------------------------------------------------------------------------------|--------|
| CASH      FLOWS FROM OPERATING ACTIVITIES:                                                           |   |                   |    |   |                   |   |   |                                                                                   |   |
| Net      loss                                                                                        |   | $                      | (23,565 | )      |                   | $      | (6,918 | )                                                                                      |   | $ | (124,821 | ) |
| Adjustments      to reconcile net loss to net cash used by operating      activities:                |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
|         Common      stock issued for services                |   |                   | 0       |   |                   |   | 0      |                                                                                   |   |   | 25,000 |   |
| Changes      in operating assets and liabilities                                                     |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
|         Increase      (decrease) in accounts payable - trade |   |                   | 0       |   |                   |   | 4,667  |                                                                                   |   |   | 0 |   |
|         Increase      (decrease) in accrued interest         |   |                   | 3,659   |   |                   |   | 2,251  |                                                                                   |   |   | 13,730 |   |
|                                                                                                 |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
| Net      cash provided (used) by operating activities                                                |   |                   | (19,906 | )      |                   |   | 0      |                                                                                   |   |   | (86,091 | ) |
|                                                                                                 |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
| 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                                                            |   |                   | 20,000  |   |                   |   | 6,918  |                                                                                   |   |   | 77,156 |   |
| Payments      on line of credit payable                                                              |   |                   | 0       |   |                   |   | 0      |                                                                                   |   |   | 0 |   |
|                                                                                                 |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
| Net      cash provided by financing activities                                                       |   |                   | 20,000  |   |                   |   | 6,918  |                                                                                   |   |   | 86,186 |   |
|                                                                                                 |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
| Net      increase (decrease) in cash                                                                 |   |                   | 94      |   |                   |   | 6,918  |                                                                                   |   |   | 95 |   |
|                                                                                                 |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
| CASH, beginning of      period                                                                       |   |                   | 0       |   |                   |   | 0      |                                                                                   |   |   | 0 |   |
|                                                                                                 |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
| CASH, end of      period                                                                             |   | $                      | 94      |   |                   | $      | 6,918  |                                                                                   |   | $ | 95 |   |
| SUPPLEMENTAL      DISCLOSURE OF CASH FLOW INFORMATION:                                               |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
| Non-Cash      Financing Activities:                                                                  |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |
|   None                                                                                     |   |                   |    |   |                   |   |   |                                                                                   |   |   |   |   |

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|   | (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 thoseestimates. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (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. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 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.            |

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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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