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

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

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

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| PART      I. - FINANCIAL INFORMATION |
|--------------------------------------|
|                                 |   |
|                                 |   |
|                                 |   |
| Item      1                          | Financial      Statements (Unaudited) |
|                                 |   |
| Item      2                          | Management's      Discussion and Analysis or Plan of Operations |
|                                 |   |
| Item      3                          | Controls      and Procedures |
|                                 |   |
|                                 |   |
| PART      II. - OTHER INFORMATION    |
|                                 |   |
|                                 |   |
| Item      1                          | Legal      Proceedings |
|                                 |   |
| Item      2                          | Changes      in securities, use of proceeds and small business issuer of equity      securities |
|                                 |   |
| Item      3                          | Defaults      upon senior securities |
|                                 |   |
| Item      4                          | Submission      of matters to a vote of security holders |
|                                 |   |
| Item      5                          | Other      information |
|                                 |   |
| Item      6                          | Exhibits      and reports on Form 8-K |
|                                 |   |

----

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|                                                                                              |   | March      31, 2008 |    |   | March      31, 2007 |   |
|---------------------------------------------------------------------------------------------------|--------|---------------------|---------|--------|---------------------|--------|
| ASSETS                                                                                            |   |                |    |   |                |   |
| CURRENT      ASSETS                                                                               |   |                |    |   |                |   |
|   Cash                                                                                  |   | $                   | 0       |   |                | $      | 0 |   |
|   Prepaid      expenses                                                                 |   |                | 0       |   |                |   | 0 |   |
|                                                                                              |   |                |    |   |                |   |   |   |
|           Total      current assets             |   |                | 0       |   |                |   | 0 |   |
|                                                                                              |   |                |    |   |                |   |   |   |
| OTHER      ASSETS                                                                                 |   |                |    |   |                |   |   |   |
|   Licensing      rights                                                                 |   |                | 0       |   |                |   | 0 |   |
|                                                                                              |   |                |    |   |                |   |   |   |
|           Total      other assets               |   |                | 0       |   |                |   | 0 |   |
|                                                                                              |   |                |    |   |                |   |   |   |
| Total      Assets                                                                                 |   | $                   | 0       |   |                | $      | 0 |   |
|                                                                                              |   |                |    |   |                |   |   |   |
| LIABILITIES      AND STOCKHOLDERS’ EQUITY                                                   |   |                |    |   |                |   |   |   |
| CURRENT      LIABILITIES                                                                          |   |                |    |   |                |   |   |   |
|   Accounts      payable                                                                 |   |                |    |   |                |   |   |   |
|      Convertible      Note Payable                                       |   | $                   | 34,566  |   |                | $      | 9,477 |   |
|                                                                                              |   |                |    |   |                |   |   |   |
|                                                                                              |   |                |    |   |                |   |   |   |
|           Total      current liabilities        |   |                | 34,566  |   |                |   | 9,477 |   |
|                                                                                              |   |                |    |   |                |   |   |   |
| Total      Liabilities                                                                            |   |                | 34,566  |   |                |   | 9,477 |   |
|                                                                                              |   |                |    |   |                |   |   |   |
| STOCKHOLDERS’      EQUITY                                                                   |   |                |    |   |                |   |   |   |
|        Preferred stock, $0.001 par, authorized 50,000,000 shares, 0    issued                |   |                |    |   |                |   |   |   |
|   and      outstanding                                                                  |   |                | 0       |   |                |   | 0 |   |
|        Common stock, $0.001 par value, authorized 500,000,000 shares;                        |   |                |    |   |                |   |   |   |
|   340,632 and 340,303      issued and outstanding, respectively                         |   |                | 341     |   |                |   | 341 |   |
|   Additional      paid-in capital in excess of par                                      |   |                | 0       |   |                |   | 0 |   |
|   Deficit      accumulated during the development stage                                 |   |                | (34,907 | )      |                |   | (9,818 | ) |
|                                                                                              |   |                |    |   |                |   |   |   |
|           Total      stockholders’ equity |   |                | (34,566 | )      |                |   | (9,477 | ) |
|                                                                                              |   |                |    |   |                |   |   |   |
| Total      Liabilities and  Stockholders’ Equity                                  |   | $                   | 0       |   |                | $      | 0 |   |

----

|                                                                            |   |  Nine      Months EndedMarch      31, 2008 |    |   |  Nine      Months EndedMarch      31, 2007 |   |    |  From February      24, 2004 (Inception) through      March 31, 2008 |   |
|---------------------------------------------------------------------------------|--------|-------------------------------------------------|---------|--------|-------------------------------------------------|--------|---------|-------------------------------------------------------------------------------------|--------|
|                                                                            |   |                                            |    |   |                                            |   |    |                                                                                |   |
| REVENUES                                                                        |   | $                                               | 0       |   |                                            | $      | 0       |                                                                                |   | $ | 0 |   |
|                                                                            |   |                                            |    |   |                                            |   |    |                                                                                |   |   |   |   |
| OPERATING      EXPENSES:                                                        |   |                                            |    |   |                                            |   |    |                                                                                |   |   |   |   |
|    General      and administrative expenses                      |   |                                            | 20,071  |   |                                            |   | 3,187   |                                                                                |   |   | 44,566 |   |
|    Legal      fees - related party                               |   |                                            | 0       |   |                                            |   | 0       |                                                                                |   |   | 10,000 |   |
|    Services      - related party                                 |   |                                            | 0       |   |                                            |   | 0       |                                                                                |   |   | 5,000 |   |
|                                                                            |   |                                            |    |   |                                            |   |    |                                                                                |   |   |   |   |
|           Total      expenses |   |                                            | 20,071  |   |                                            |   | 3,187   |                                                                                |   |   | 59,566 |   |
|                                                                            |   |                                            |    |   |                                            |   |    |                                                                                |   |   |   |   |
| Net      income (loss)                                                          |   | $                                               | (20,071 | )      |                                            | $      | (3,187  | )                                                                                   |   | $ | (59,566 | ) |
|                                                                            |   |                                            |    |   |                                            |   |    |                                                                                |   |   |   |   |
| Income      (loss) per weighted average common share                            |   | $                                               | (0.00   | )      |                                            | $      | (0.00   | )                                                                                   |   |   |   |   |
|                                                                            |   |                                            |    |   |                                            |   |    |                                                                                |   |   |   |   |
| Number      of weighted average common shares outstanding                       |   |                                            | 340,632 |   |                                            |   | 340,303 |                                                                                |   |   |   |   |

----

|                                                                                                         |   |   Nine      Months EndedMarch      31, 2008 |    |   |   Nine      Months EndedMarch      31, 2007 |   |   | From February      24, 2004(Inception) throughMarch      31, 2008 |   |
|--------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------|---------|--------|-------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------|--------|
| CASH      FLOWS FROM OPERATING ACTIVITIES:                                                                   |   |                                                  |    |   |                                                  |   |   |                                                                        |   |
| Net      loss                                                                                                |   | $                                                     | (20,071 | )      |                                                  | $      | (3,187 | )                                                                           |   | $ | (34,566 | ) |
| Adjustments      to reconcile net loss to net cash used by operating      activities:                        |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
|         Stock      issued for services                               |   |                                                  | 0       |   |                                                  |   | 0      |                                                                        |   |   | 25,000 |   |
| Changes      in operating assets and liabilities                                                             |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
|         Increase      (decrease) in accounts payable - trade         |   |                                                  | 20,071  |   |                                                  |   | 3,187  |                                                                        |   |   | 34,566 |   |
|         Increase      (decrease) in accounts payable - related party |   |                                                  | 0       |   |                                                  |   | 0      |                                                                        |   |   | 0 |   |
|                                                                                                         |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| Net      cash provided (used) by operating activities                                                        |   |                                                  | 0       |   |                                                  |   | 0      |                                                                        |   |   | 0 |   |
|                                                                                                         |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| CASH      FLOWS FROM INVESTING ACTIVITIES:                                                                   |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| None                                                                                                         |   |                                                  | 0       |   |                                                  |   | 0      |                                                                        |   |   | 0 |   |
|                                                                                                         |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| Net      cash provided (used) by investing activities                                                        |   |                                                  | 0       |   |                                                  |   | 0      |                                                                        |   |   | 0 |   |
|                                                                                                         |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| CASH      FLOWS FROM FINANCING ACTIVITIES:                                                                   |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| Proceeds      from issuance of convertible debt                                                              |   |                                                  | 20,071  |   |                                                  |   | 3,187  |                                                                        |   |   | 34,566 |   |
|                                                                                                         |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| Net      cash provided by financing activities                                                               |   |                                                  | 0       |   |                                                  |   | 0      |                                                                        |   |   | 0 |   |
|                                                                                                         |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| Net      increase (decrease) in cash                                                                         |   |                                                  | (20,071 | )      |                                                  |   | (3,187 | )                                                                           |   |   | (34,566 | ) |
|                                                                                                         |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| CASH, beginning of      period                                                                               |   |                                                  | 0       |   |                                                  |   | 0      |                                                                        |   |   | 0 |   |
|                                                                                                         |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| CASH, end of      period                                                                                     |   | $                                                     | 0       |   |                                                  | $      | 0      |                                                                        |   | $ | 0 |   |
| NON      CASH FINANCING ACTIVITIES                                                                           |   |                                                  |    |   |                                                  |   |   |                                                                        |   |   |   |   |
| Common      stock issued to settle debt                                                                      |   | $                                                     | 0       |   |                                                  | $      | 0      |                                                                        |   | $ | 9,000 |   |

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

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

|   | (2) Stockholders’      Equity  The Company has authorized 500,000,000 shares of      $0.001 par value common stock and 50,000,000 shares of $0.001 par value      preferred stock.. The Company had 340,632 shares of common stock issued      and outstanding at May 2, 2008.   On April 26, 2004, the      Company completed a 1-for-200 reverse split of its common stock, leaving      30,390 shares remaining outstanding.  In May 2004 the company      authorized the issuance of 5,000,000 shares of its restricted common stock      to its sole officer and director for services.  In November 2004      the company issued a total of 20,000,000 shares of its common stock to a      third party for capital and other services rendered on behalf of the      company on or before November 2, 2004.  On the same date the      company issued an additional 9,000,000 shares of its common stock in      exchange for settlement and satisfaction of the balance of any      indebtedness of the company.  All such shares were issued at par      value.  On February 7, 2008, the Company approved and submitted      with NASDAQ the necessary paperwork to implement the reverse split of the      issued and outstanding common stock of the Company at a ratio of one (1)      share for each one hundred (100) shares of the common stock issued and      outstanding, with the number of authorized shares remaining the same and      unchanged as a result of the reverse split.  All fractional      shares were rounded up to the next whole share.  A copy of the      corporate resolution used to carry out the reverse split was filed with      the original form 8-K on February 26,2008. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

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|   | (4) Going Concern Even      though as shown in the accompanying consolidated financial statements, the      Company incurred cumulative net losses totaling $34,566 for the period      ended March 31, 2008, it has a stockholders’ deficit of approximately      $34,907 as of March 31, 2008.  These conditions raise      substantial doubt as to the ability of the Company to continue as a going      concern.  The ability of the Company to continue as a going      concern is dependent upon increasing sales and obtaining additional      capital and financing.  The Company is attempting to raise      additional funds for the Company through third parties.  The      financial statements do not include any adjustments that might be      necessary if the Company is unable to continue as a going      concern. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

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