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

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

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

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

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|                                                                                                                                            |   | December 31, 2010 |     |   | June 30, 2010 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|----------|--------|---------------|--------|
|                                                                                                                                            |   | (Unaudited)       |     |   |          |   |
| ASSETS                                                                                                                                          |
| CURRENT ASSETS                                                                                                                                  |   |              |     |   |          |   |
|   Cash                                                                                                                                |   | $                 | 13,796   |   |          | $      | 13,545 |   |
|   Prepaid expenses                                                                                                                         |   |              | 0        |   |          |   | 3,750 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
|           Total current assets                                                                |   |              | 13,796   |   |          |   | 17,295 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
| OTHER ASSETS                                                                                                                                    |   |              |     |   |          |   |   |   |
|    Other assets                                                                                                                  |   |              | 0        |   |          |   | 0 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
|           Total other assets                                                                  |   |              | 0        |   |          |   | 0 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
| Total Assets                                                                                                                                    |   | $                 | 13,796   |   |          | $      | 17,295 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                      |
| CURRENT LIABILITIES                                                                                                                             |   |              |     |   |          |   |   |   |
|     Accounts payable and accrued  liabilities                                                                     |   | $                 | 0        |   |          | $      | 0 |   |
|     Accrued interest on line of credit payable                                                                              |   |              | 4,964    |   |          |   | 3,270 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
|           Total current liabilities                                                           |   |              | 4,964    |   |          |   | 3,270 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
| LONG-TERM LIABILITIES                                                                                                                           |   |              |     |   |          |   |   |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
|     Long-term line of credit payable                                                                                        |   |              | 44,500   |   |          |   | 30,000 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
|           Total long-term liabilities                                                         |   |              | 44,500   |   |          |   | 30,000 |   |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
| Total Liabilities                                                                                                                               |   |              | 49,464   |   |          |   | 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                                                                                    |   |              | (360,584 | )      |          |   | (340,891 | ) |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
|           Total stockholders’ equity                                                    |   |              | (35,668  | )      |          |   | (15,975 | ) |
|                                                                                                                                            |   |              |     |   |          |   |   |   |
| Total Liabilities and  Stockholders’ Equity                                                                                     |   | $                 | 13,796   |   |          | $      | 17,295 |   |

----

|                                                                       |   |  Three Months |       |   |  Six Months |   |    | Period from Feb 24, 2004(Inception)through |   |
|----------------------------------------------------------------------------|--------|--------------------|------------|--------|------------------|--------|---------|--------------------------------------------|--------|
|                                                                       |   | 2010               |       |   | 2009             |   |    | 2010                                       |   |   | 2009 |   |   | Dec 31, 2010 |   |
|                                                                       |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |
|                                                                       |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |
| REVENUES                                                                   |   | $                  | 0          |   |             | $      | 0       |                                       |   | $ | 0 |   |   | $ | 0 |   |   | $ | 0 |   |
|                                                                       |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING EXPENSES                                                         |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|    General and administrative                               |   |               | 2,773      |   |             |   | 3,175   |                                       |   |   | 5,748 |   |   |   | 5,655 |   |   |   | 301,770 |   |
|    Professional fees                                        |   |               | 3,500      |   |             |   | 4,750   |                                       |   |   | 12,250 |   |   |   | 14,250 |   |   |   | 32,125 |   |
|    Interest expense                                         |   |               | 939        |   |             |   | 1,944   |                                       |   |   | 2,003 |   |   |   | 3,659 |   |   |   | 26,689 |   |
|                                                                       |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|           Total expenses |   |               | 7,212      |   |             |   | 9,869   |                                       |   |   | 20,001 |   |   |   | 23,564 |   |   |   | 360,584 |   |
|                                                                       |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                   |   | $                  | (7,212     | )      |             | $      | (9,869  | )                                          |   | $ | (20,001 | ) |   | $ | (23,564 | ) |   | $ | (360,584 | ) |
|                                                                       |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic net loss per weighted average share                                  |   | $                  | ( 0.00     | )      |             | $      | ( 0.03  | )                                          |   | $ | ( 0.00 | ) |   | $ | ( 0.07 | ) |   |   |   |   |
|                                                                       |   |               |       |   |             |   |    |                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of shares                                          |   |               | 29,429,232 |   |             |   | 340,632 |                                       |   |   | 29,429,232 |   |   |   | 340,632 |   |   |   |   |   |

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

| Net loss                                      |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (8,205   | )      |   |   | (8,205   | )      |
|-----------------------------------------------|--------|--------|-------------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|--------|----------|--------|--------|--------|----------|--------|
|                                          |   |   |        |   |   |   |    |   |   |   |    |   |   |   |     |   |   |   |     |   |
| BALANCE, June 30, 2007                        |   |   | 34,030,390  |   |   |   | 34,030  |   |   |   | 0       |   |   |   | (50,817  | )      |   |   | (16,787  | )      |
| 1 for 100 reverse split                       |   |   | (33,690,086 | )      |   |   | (33,690 | )      |   |   | 33,690  |   |   |   | 0        |   |   |   | 0        |   |
| Net loss                                      |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (24,549  | )      |   |   | (24,549  | )      |
|                                          |   |   |        |   |   |   |    |   |   |   |    |   |   |   |     |   |   |   |     |   |
| BALANCE, June 30, 2008                        |   |   | 340,304     |   |   |   | 340     |   |   |   | 33,690  |   |   |   | (75,366  | )      |   |   | (41,336  | )      |
| Net loss                                      |   |   | 0           |   |   |   | 0       |   |   |   | 0       |   |   |   | (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       |   |   |   | (20,001  | )      |   |   | (20,001  | )      |
| ENDING BALANCE, December 31, 2010 (unaudited) |   |   | 29,428,904  |   |   | $      | 29,429  |   |   | $      | 295,487 |   |   | $      | (360,892 | )      |   | $      | (35,976  | )      |

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|                                                                                               |   |    2010 |    |   |    2009 |   |    | Cumulative from February 24, 2004 (inception) to Dec 31, 2010 |   |
|----------------------------------------------------------------------------------------------------|--------|------------------------|---------|--------|------------------------|--------|---------|--------------------------------------------------------------------|--------|
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                              |   |                   |    |   |                   |   |    |                                                               |   |
| Net loss                                                                                           |   | $                      | (20,001 | )      |                   | $      | (23,565 | )                                                                  |   | $ | (360,584 | ) |
| 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 accounts payable - trade    |   |                   | 0       |   |                   |   | 0       |                                                               |   |   | 0 |   |
|         Increase (decrease) in accrued interest            |   |                   | 2,002   |   |                   |   | 3,659   |                                                               |   |   | 18,694 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |
| Net cash provided (used) by operating activities                                                   |   |                   | (14,249 | )      |                   |   | (19,906 | )                                                                  |   |   | (116,890 | ) |
|                                                                                               |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |
| 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                                                               |   |                   | 14,500  |   |                   |   | 20,000  |                                                               |   |   | 121,656 |   |
| Payments on line of credit payable                                                                 |   |                   | 0       |   |                   |   | 0       |                                                               |   |   | 0 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |
| Net cash provided by financing activities                                                          |   |                   | 14,500  |   |                   |   | 20,000  |                                                               |   |   | 130,686 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |
| Net increase (decrease) in cash                                                                    |   |                   | 251     |   |                   |   | 94      |                                                               |   |   | 13,796 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |
| CASH, beginning of period                                                                          |   |                   | 13,545  |   |                   |   | 0       |                                                               |   |   | 0 |   |
|                                                                                               |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |
| CASH, end of period                                                                                |   | $                      | 13,796  |   |                   | $      | 94      |                                                               |   | $ | 13,796 |   |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                                                  |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |
| Non-Cash Financing Activities:                                                                     |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |
|   None                                                                                   |   |                   |    |   |                   |   |    |                                                               |   |   |   |   |

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