UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549



FORM 10-QSB



[X]  Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



For the period ended June 30, 2007



[   ]  Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934



For the transition period __________ to ___________



Commission File Number   000-51033







MONDIAL VENTURES, INC.

(Exact name of small business issuer as specified in its charter)



NevadaPending(State or other jurisdiction of(IRS Employer Identification No.)incorporation or organization)




8416 Angus Drive

Vancouver, British Columbia, Canada  V6P 1L3

(Address of principal executive offices)  (Postal or Zip Code)



Issuers telephone number, including area code:  778-238-1650



None

(Former name, former address and former fiscal year, if changed since last report)





Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days    Yes  [X]   No  [   ]



Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  [X]   No  [   ]



State the number of shares outstanding of each of the issuers classes of common stock, as of the latest practicable date: 9,800,000 Shares of $0.001 par value common stock outstanding as of August 28, 2007.





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Mondial Ventures, Inc.

(An Exploration Stage Company)





June 30, 2007



IndexBalance SheetsF-1Statements of OperationsF-2Statements of Cash FlowsF-3Notes to the Financial StatementsF-4
























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Mondial Ventures, Inc.

(An Exploration Stage Company)

Balance Sheets



June 30,
`2007

$`December 31,
`2006

$`(unaudited)ASSETSCurrent AssetsCash


	5,201
`3,960`Total Assets
	5,201
	3,960LIABILITIES AND STOCKHOLDERS DEFICITCurrent LiabilitiesAccounts payable and accrued liabilities15,03013,685Due to related party51,60939,609Total Liabilities
	66,639
	53,294Stockholders DeficitCommon Stock, 75,000,000 shares authorized, $0.0001 par value;
`9,800,000 shares issued and outstanding  

(December 31, 2006  9,800,000 shares)`9,8009,800Additional Paid-in Capital19,80019,800Deficit Accumulated During the Exploration Stage
	(91,038)
	(78,934)Total Stockholders Deficit
	(61,438)
	(49,334)Total Liabilities and Stockholders Deficit
	5,201
	3,960






Contingency (Note 1)









(The Accompanying Notes are an Integral Part of These Financial Statements)



F-1



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Mondial Ventures, Inc.

(An Exploration Stage Company)

Statements of Operations

(Unaudited)



Accumulated from
`May 29, 2002

(Date of Inception)`For the
`Three Months

Ended`For the
`Three Months

Ended`For the
`Six Months

Ended`For the
`Six Months

Ended`to June 30,June 30,June 30,June 30,June 30,20072007200620072006$$$$$RevenueExpensesMineral property acquisition cost12,000Office and general11,2052271,4684112,014Professional fees67,833
	3,3013,76311,693
	6,763Total Expenses91,038
	3,5285,23112,104
	8,777Net Loss(91,038)
	(3,528)(5,231)(12,104)
	(8,777)Net Loss Per Share  Basic and Diluted
	
	
	
	
	Weighted Average Shares Outstanding
	9,800,000
	9,800,000
	9,800,000
	9,800,000




















(The Accompanying Notes are an Integral Part of These Financial Statements)



F-2



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Mondial Ventures, Inc.

(An Exploration Stage Company)

Statements of Cash Flows

(Unaudited)



Six months
`Ended

June 30,

2007

$`Six months
`Ended

June 30,

2006

$`May 29, 2002
	(Inception) to
`June 30,

2007

$`Operating ActivitiesNet loss(12,104)(8,777)(91,038)Changes in operating assets and liabilities:Accounts payable and accrued liabilities
	1,345
	1,19115,030Net Cash Used in Operating Activities
	(10,759)
	(7,586)(76,008)Financing ActivitiesProceeds from issuance of common stock29,600Due to related party12,0007,50051,609Net Cash Provided by Financing Activities
	12,000
	7,50081,209Increase (Decrease) in Cash1,241(86)5,201Cash - Beginning
	3,960
	547Cash - Ending
	5,201
	4615,201Supplemental Disclosures
`Cash paid for:`InterestIncome taxes










(The Accompanying Notes are an Integral Part of These Financial Statements)







F-3



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Mondial Ventures, Inc.

(An Exploration Stage Company)

Notes to the Financial Statements

(Unaudited)



Note 1

Basis of Presentation

Unaudited Interim Financial Statements

The accompanying unaudited interim financial statements have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-QSB of Regulation S-B. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. However, except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended December 31, 2006 included in the Company's Form 10-KSB filed with the Securities and Exchange Commission. The interim unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-KSB. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the six months ended June 30, 2007 are not necessarily indicative of the results that may be expected for the year ending December 31, 2007.

























F-4



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Forward-Looking Statements



This Form 10-QSB includes "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.  Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.



All statements other than historical facts included in this Form, including without limitation, statements under "Plan of Operation", regarding our financial position, business strategy, and plans and objectives of management of the Company for the future operations, are forward-looking statements.



Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.  Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, market conditions, competition and the ability to successfully complete financing.



Item 2. Plan of Operation



Plan of Operation



Our plan of operation for the twelve months following the date of this report is to complete the recommended grid emplacement and geological, geochemical and geophysical surveys on the Q29 property.  We anticipate that the cost of this program will be approximately $10,000 and will take approximately sixty days, including the interpretation of all data collected.



If results of this initial exploration program indicate that the Q29 property may contain an economic mineral deposit, we will proceed with a follow up trenching program.  We expect the trenching program will cost approximately $15,000 and take approximately sixty days to complete.  We do not have any arrangement with a qualified geologist to oversee the trenching program.



As well, we anticipate spending an additional $12,500 on professional fees, including fees payable in connection with the filing of this quarterly report and complying with reporting obligations.



Total expenditures over the next twelve months are therefore expected to be $37,500.



We will require additional funding in order to proceed with proposed exploration and to cover administrative costs. We anticipate that additional funding will be required in the form of equity financing from the sale of our common stock.  However, we cannot provide any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund the second phase of the exploration program.  We believe that debt financing will not be an alternative for funding the complete exploration program.  We do not have any arrangements in place for any future equity financing.



Our cash reserves are not sufficient to meet our obligations for the next twelve-month period.  As a result, we will need to seek additional funding in the near future.  We currently do not have a specific plan of how we will obtain such funding; however, we anticipate that additional funding will be in the form of equity financing from the sale of our common stock.  Our management is prepared to provide us with short-term loans, although no such definitive arrangement has been made. We have not placed financial limitations on the amount of money that management may lend to us.



At this time, we cannot provide any assurance that we will be able to raise sufficient funding from the sale of our common stock or through a loan from our directors to meet our obligations over the next twelve months.  We do not have any arrangements in place for any future equity financing.



We have not and do not intend to seek debt financing by way of bank loan, line of credit or otherwise.  Financial institutions do not typically lend money to mineral exploration companies with no stable source of revenue.



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If we do not secure additional funding for exploration expenditures, we may consider seeking an arrangement with a joint venture partner that would provide the required funding in exchange for receiving a part interest in the Q29 property.  We have not undertaken any efforts to locate a joint venture partner.  There is no guarantee that we will be able to locate a joint venture partner who will assist us in funding exploration expenditures upon acceptable terms.  We may also pursue acquiring interests in alternate mineral properties in the future.



If we are unable to arrange additional financing or find a joint venture partner for the Q29 property, our business plan will fail and operations will cease.



Results Of Operations For Period Ending June 30, 2007



We did not earn any revenues during the six-month period ending June 30, 2007.  We are in the exploration stage of our business and can provide no assurance that we will discover economic mineralization on the Q29 property.



We incurred operating expenses in the amount of $12,104 for the six-month period ended June 30, 2007, consisting of professional fees of $11,693 and office and general costs of $411.



Our net loss increased significantly in the six-month period ended June 30, 2007, as compared to the same period in fiscal 2006 ($12,104 as compared to $8,777).  This increase was due to increase in professional fees (from $6,263 in 2006 to $11,693 in 2006).



At June 30, 2007, we had cash on hand of $5,201 and liabilities of $66,639 consisting of accounts payable and accrued liabilities of $15,030 and $51,609 due to our president, Scott Taylor for loans he advanced to us.



We have not attained profitable operations and are dependent upon obtaining financing to pursue exploration activities.  For these reasons, we believe that there is substantial doubt that we will be able to continue as a going concern.



Item 3  Controls and Procedures



Evaluation of Disclosure Controls



We evaluated the effectiveness of our disclosure controls and procedures as of the end of our fiscal quarter ended June 30, 2007.  This evaluation was conducted with the participation of our chief executive officer and our principal accounting officer.



Disclosure controls are controls and other procedures that are designed to ensure that information that we are required to disclose in the reports we file pursuant to the Securities Exchange Act of 1934 is recorded, processed, summarized and reported.



Limitations on the Effective of Controls



Our management does not expect that our disclosure controls or our internal controls over financial reporting will prevent all error and fraud.  A control system, no matter how well conceived and operated, can provide only reasonable, but no absolute, assurance that the objectives of a control system are met.  Further, any control system reflects limitations on resources, and the benefits of a control system must be considered relative to its costs.  These limitations also include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake.  Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of a control.  A design of a control system is also based upon certain assumptions about potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate.  Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and may not be detected.



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Conclusions



Based upon their evaluation of our controls, the chief executive officer and principal accounting officer have concluded that, subject to the limitations noted above, the disclosure controls are effective providing reasonable assurance that material information relating to us is made known to management on a timely basis during the period when our reports are being prepared.  There were no changes in our internal controls that occurred during the quarter covered by this report that have materially affected, or are reasonably likely to materially affect our internal controls.





PART II- OTHER INFORMATION



Item 1. Legal Proceedings



We are not a party to any pending legal proceeding.  Management is not aware of any threatened litigation, claims or assessments.



Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.



Item 3. Defaults Upon Senior Securities



None.



Item 4. Submission of Matters to a Vote of Security Holders



None.



Item 5. Other Information



None.



Item 6. Exhibits





|31.1 | Certification pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934                                    
|---- | ----------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                       
|31.2 | Certification pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934                                    
|     |                                                                                                                       
|32.1 | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|     |                                                                                                                       
|32.2 | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002



During the six-month period ended June 30, 2007, we did not file any current reports on Form 8-K.





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SIGNATURES



In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Date:  August 28, 2007



Mondial Ventures, Inc.



/s/ Scott Taylor

Scott Taylor, President

























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