SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-Q  [x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the Quarterly period ended  June 30, 2010  [] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  Commission File No. 000-53377  FOREVER VALUABLE COLLECTIBLES, INC. (Exact Name of Registrant as specified in its charter)  Colorado41-2230041(State or other jurisdiction(IRS Employer File Number)of incorporation)535 16th Street, Suite 810Denver, CO80202(Address of principal executive offices)(zip code)  (303) 573-1000 (Registrant's telephone number, including area code) Securities Registered Pursuant to Section 12(b) of the Act: None Securities Registered Pursuant to Section 12(g) of the Act:  Common Stock, no par per share par value  Check whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant 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 large accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of large accelerated filer, accelerated filer, and small reporting company in Rule 12b-2 of the Exchange Act.  Large accelerated filer []Accelerated filer []Non-accelerated filer [] (Do not check if a smaller reporting company)Smaller reporting company  [X]  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)     Yes [X]    No [ ]   The number of shares outstanding of the Registrant's common stock, as of the latest practicable date, June 30, 2010,  was 11,972,600.   1|       FORM 10-Q  Forever Valuable Collectibles, Inc.  TABLE OF CONTENTS   PagePART I  FINANCIAL INFORMATIONItem 1. Financial Statements for the period ended June 30, 20103Item 2. Managements Discussion and Analysis and Plan of Operation10Item 3. Quantitative and Qualitative Disclosures About Market Risk14Item 4 Controls and Procedures14PART II  OTHER INFORMATIONItem 1. Legal Proceedings14Item 1A.  Risk Factors14Item 2. Unregistered Sales of Equity Securities and Use of Proceeds18Item 3. Defaults Upon Senior Securities18Item 4. Submission of Matters to a Vote of Security Holders18Item 5. Other Information18Item 6. Exhibits18Signatures19       2|   PART I  FINANCIAL INFORMATION  For purposes of this document, unless otherwise indicated or the context otherwise requires, all references herein to Forever Valuable, we, us, and our, refer to Forever Valuable Collectibles, Inc., a Colorado corporation.   FOREVER VALUABLE COLLECTIBLES, INC. (A Development Stage Company) Condensed Balance Sheets   June 30, December 31, 2010 2009 (Unaudited) (Audited) Assets Assets: Cash $ 574 $ 2,690 Merchandise inventory, at cost 4,088 2,988 $ 4,662 $ 5,678  Liabilities and Shareholders Deficit  Liabilities: Accounts payable: Related party (Note 2) $  $ 1,118 Other 8,660 4,874 Notes payable, related parties (Note 2) 36,420 33,893 Accrued interest payable, related parties (Note 2)  10,209 6,940  Total liabilities 55,289 46,825  Shareholders deficit (Note 3): Preferred stock, no par value; 1,000,000 shares authorized, -0- and -0- shares issued and outstanding, respectively   Common stock, no par value; 50,000,000 shares authorized, 11,972,600 and 11,960,600 shares issued and outstanding, respectively 9,329 8,211 Additional paid-in capital 147,896 119,273 Deficit accumulated during the development stage (207,852) (168,631)  Total shareholders deficit (50,627) (41,147)  $ 4,662 $ 5,678    See accompanying notes to condensed financial statements   3|   FOREVER VALUABLE COLLECTIBLES, INC. (A Development Stage Company) Condensed Statements of Operations (Unaudited)


|                                           |                         |                          |          |                    |          |            |          |                  |          |          |          |           |          
|------------------------------------------ | ----------------------- | ------------------------ | -------- | ------------------ | -------- | ---------- | -------- | ---------------- | -------- | -------- | -------- | --------- | ---------
|                                           |                         | November 29,            
|                                           |                         |                          |          |                    |          |            |          | 2007 (Inception)
|                                           |                         | For The Three Months     |          | For The Six Months |          | through   
|                                           |                         | Ended June 30,           |          | Ended June 30,     |          | June 30,  
|                                           |                         | 2010                     |          | 2009               |          | 2010       |          | 2009             |          | 2010    
|Net sales and gross revenue                | $                       | 500                      | $        |                   | $        | 500        | $        | 585              | $        | 1,085   
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|Cost of Goods Sold                         |                         | 350                      |          |                   |          | 350        |          | 450              |          | 800     
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|                                           |                         | Gross Margin             |          | 150                |          |           |          | 150              |          | 135      |          | 285      
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|Contributed rent and services (Note 2)     |                         | 14,312                   |          | 14,312             |          | 28,623     |          | 28,623           |          | 147,886 
|Selling, general and administrative        |                         |                          |          |                    |          |            |          |                  |          |         
|                                           | expenses, related party |                          |         |                    | 738      |            |         |                  | 1,408    |          | 4,375   
|Selling, general and administrative        |                         |                          |          |                    |          |            |          |                  |          |         
|                                           | expenses, other         |                          | 2,440    |                    | 1,226    |            | 7,452    |                  | 7,302    |          | 44,556  
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|                                           |                         | Operating loss           |          | (16,602)           |          | (16,276)   |          | (35,925)         |          | (37,198) |          | (196,532)
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|Other income (expense):                    |                         |                          |          |                    |          |            |          |                  |          |         
|                                           | Interest expense        |                          | (1,707)  |                    | (1,285)  |            | (3,296)  |                  | (2,090)  |          | (11,320)
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|                                           |                         | Loss before income taxes |          | (18,309)           |          | (17,561)   |          | (39,221)         |          | (39,288) |          | (207,852)
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|Income taxes (Note 4):                     |                         |                          |          |                    |          |            |          |                  |          |         
|                                           | Income tax provision    |                          |         |                    |         |            |         |                  |         |          |        
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|                                           |                         |                          | Net loss | $                  | (18,309) | $          | (17,561) | $                | (39,221) | $        | (39,288) | $         | (207,852)
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|Basic and diluted loss per share           | $                       | (0.00)                   | $        |                   | $        | (0.00)     | $        |                 |          |         
|                                           |                         |                          |          |                    |          |            |          |                  |          |         
|Weighted average common shares outstanding |                         | 11,972,600               |          | 11,950,600         |          | 11,969,171 |          | 11,942,267       |          |         
|                                           |                         |                          |          |                    |          |            |          |                  |          |         

See accompanying notes to condensed financial statements  4|     FOREVER VALUABLE COLLECTIBLES, INC. (A Development Stage Company) Condensed Statement of Changes in Shareholders' Deficit (Unaudited)


|                            |                                |   |                 |   |              |   |            |   |             |   |            |          |             |          |         
|--------------------------- | ------------------------------ | - | --------------- | - | ------------ | - | ---------- | - | ----------- | - | ---------- | -------- | ----------- | -------- | --------
|                            |                                |   |                 |   |              |   |            |   |             |   |            |          | Deficit     |          |         
|                            |                                |   |                 |   |              |   |            |   |             |   |            |          | Accumulated |          |         
|                            |                                |   |                 |   |              |   |            |   |             |   | Additional |          | During the  |          |         
|                            |                                |   | Preferred Stock |   | Common Stock |   | Paid-in    |   | Development |   |           
|                            |                                |   | Shares          |   | Amount       |   | Shares     |   | Amount      |   | Capital    |          | Stage       |          | Total   
|Balance at                  |                                |   |                 |   |              |   |            |   |             |   |            |          |             |         
|                            | December 31, 2009              |   |                | $ |             |   | 11,960,600 | $ | 8,211       | $ | 119,273    | $        | (168,631)   | $        | (41,147)
|February 2010, common stock |                                |   |                 |   |              |   |            |   |             |   |            |          |             |         
|                            | issued in exchange for         |   |                 |   |              |   |            |   |             |   |            |          |             |          |         
|                            | professional services (Note 2) |   |                |   |             |   | 12,000     |   | 1,118       |   |           |          |            |          | 1,118   
|Contributed rent and        |                                |   |                 |   |              |   |            |   |             |   |            |          |             |         
|                            | services                       |   |                |   |             |   |           |   |            |   | 28,623     |          |            |          | 28,623  
|Net loss                    |                                |  |                 |  |              |  |            |  |             |  |            | (39,221) |             | (39,221)
|Balance at                  |                                |   |                 |   |              |   |            |   |             |   |            |          |             |         
|                            | June 30, 2010                  |   |                | $ |             |   | 11,972,600 | $ | 9,329       | $ | 147,896    | $        | (207,852)   | $        | (50,627)

See accompanying notes to condensed financial statements    5|   FOREVER VALUABLE COLLECTIBLES, INC. (A Development Stage Company) Condensed Statements of Cash Flows (Unaudited)


|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |           |          |  |                 
|------------------------------------------------- | -------------------------------------------------------------------- | ----------------------------- | -------------------------------------------- | ------ | ------------------------------ | ------ | ---------------------- | -------------------- | -------- | ---------------- | --------- | -------- |  | ----------------
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |           |          |  | November 29,    
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |           |          |  | 2007 (Inception)
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          | Six Months Ended |           | through 
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          | June 30,         |           | June 30 
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          | 2010             |           | 2009     |  | 2010            
|Cash flows from operating activities:             |                                                                      |                               |                                              |        |                                |       
|                                                  | Net loss                                                             |                               |                                              |        |                                | $      | (39,221)               | $                    | (39,288) | $                | (207,852)
|                                                  | Adjustments to reconcile net loss to net cash                        |                               |                                              |        |                                |        |                       
|                                                  |                                                                      | used by operating activities: |                                              |        |                                |        |                        |                     
|                                                  |                                                                      | Share-based payment           |                                              |       |                                | 2,500  |                        | 1,510               
|                                                  |                                                                      | Contributed services (Note 2) |                                              | 24,000 |                                | 24,000 |                        | 124,000             
|                                                  |                                                                      | Contributed rent (Note 2)     |                                              | 4,623  |                                | 4,623  |                        | 23,886              
|                                                  |                                                                      |                               | Changes in operating assets and liabilities: |        |                                |        |                        |                      |         
|                                                  |                                                                      |                               |                                              |        | Account Receivable             |        |                       |                      |         |                  |         
|                                                  |                                                                      |                               |                                              |        | Inventory                      |        | (1,100)                |                      | 100      |                  | (877)    
|                                                  |                                                                      |                               |                                              |        | Accounts payable               |        | 3,812                  |                      | (4,173)  |                  | 12,304   
|                                                  |                                                                      |                               |                                              |        | Accrued interest related party |        | 3,269                  |                      | 2,090    |                  | 10,209   
|                                                  |                                                                      |                               |                                              |        |                                |        | Net cash used in       |                      |          |                 
|                                                  |                                                                      |                               |                                              |        |                                |        |                        | operating activities |          | (4,616)          |           | (10,148) |  | (36,819)        
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |           |          |  |                 
|.                                                 |                                                                      |                               |                                              |        |                                |       
|                                                  | Proceeds from issuance of related party notes                        |                               | 2,500                                        |        | 16,500                         |        | 36,393                
|                                                  | Proceeds from issuance of common                                     |                               |                                              |       
|                                                  |                                                                      | stock, net of issuance costs  |                                              |       |                                |       |                        | 1,000               
|                                                  |                                                                      |                               |                                              |        |                                |        | Net cash provided by   |                      |          |                 
|                                                  |                                                                      |                               |                                              |        |                                |        |                        | financing activities |          | 2,500            |           | 16,500   |  | 37,393          
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |          
|                                                  |                                                                      |                               |                                              |        |                                |        | Net change in cash and |                      |          |                 
|                                                  |                                                                      |                               |                                              |        |                                |        |                        | cash equivalents     |          | (2,116)          |           | 6,352    |  | 574             
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |          
|Cash and cash equivalents:                        |                                                                      |                               |                                             
|                                                  | Beginning of period                                                  |                               | 2,690                                        |        | 212                            |        |                      
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |           |          |  |                 
|                                                  | End of period                                                        | $                             | 574                                          | $      | 6,564                          | $      | 574                   
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |           |          |  |                 
|Supplemental disclosure of cash flow information: |                                                                      |                               |                                              |        |                                |       
|                                                  | Cash paid during the period for:                                     |                               |                                              |        |                                |        |                       
|                                                  |                                                                      | Income taxes                  |                                              | $      |                               | $      |                       | $                    |        
|                                                  |                                                                      | Interest                      |                                              |        |                                | $      |                       | $                    |         | $                |         
|                                                  |                                                                      |                               |                                              |        |                                |        |                        |                      |          |                  |           |          |  |                 
|Non-cash financing activities:                    |                                                                      |                               |                                              |        |                                |       
|                                                  | Shares issued as payment for related party
Accounts payable (Note 2) | $                             | 1,118                                        | $      |                               | $      | 1,118                 
|                                                  | Shares issued for property (Note 2)                                  | $                             |                                             | $      |                               | $      | 3,211                 

See accompanying notes to condensed financial statements   7|   FOREVER VALUABLE COLLECTIBLES, INC. (A Development Stage Company) Notes to Condensed Unaudited Financial Statements  Note 1: Basis of Presentation and Going Concern  The accompanying unaudited financial statements have been prepared from the records of the Company, in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). In the opinion of management, the accompanying unaudited financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position as of June 30, 2010, the results of operations for the three and six months ended June 30, 2010 and 2009, and cash flows for the six months ended June 30, 2010 and 2009 and the period from November 29, 2007 (inception) through June 30, 2010. These financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company's annual report on Form 10-K for the year ended December 31, 2009. There is no provision for dividends for the quarter to which this quarterly report relates. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  The results of operations for the three and six month periods ended June 30, 2010 are not necessarily indicative of the results to be expected for the full year ending December 31, 2010. We have a limited history of operations, limited assets, and an operating loss since inception.  Our current burn rate is between $30,000 and $50,000 annually and we may incur additional operating losses in future periods.  In addition, there is no assurance that we will be able to access capital markets to raise funds sufficient to cover any future operating losses. Our ability to achieve and maintain profitability and positive cash flow is dependent upon our ability to locate customers who will use our memorabilia and collectibles services and our ability to generate sales revenues.  However, we have generated only limited revenues of $1,085 from our inception and at June 30, 2010 we had a cash position of $574. As a result, our auditors are uncertain about our ability to continue as a going concern.  The accompanying financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. Note (2):Related Party Transactions Rent expense of $4,623 was recognized during the six months ended June 30, 2010 and 2009 for contribution of office space by an affiliate.  The Board of Directors valued the contribution based on rent for similar space in the local area.  Our President and Director contributed her time and attendance during 2010 and 2009.  We recognized $24,000 for the six months ended June 30, 2010 and 2009, in contributed service expense.  The Board of Directors valued the contribution based on prevailing rates for similar services in the local area.  During the years ended December 31, 2009 and 2008, we incurred stock transfer agent fees to X-Pedited Transfer Corp., an affiliate, totaling $1,000 and $3,375, respectively.  At December 31, 2009, the unpaid balance to the affiliate was $1,118, and is included in the accompanying December 31, 2009 balance sheet as accounts payable, related party. During February 2010, we issued 12,000 shares of our common stock to X-Pedited Transfer Corp. as payment for the December 31, 2009 obligation.  Since 2008, our affiliates, X-Clearing Corp. and A-Squared Holdings, Inc. have provided us cash to cover operating expenses pursuant to the terms of unsecured promissory notes. During the six months ended June 30, 2010, A-Squared provided loan proceeds totaling $2,500.  As of June 30, 2010 and December 31, 2009, notes payable to related parties, consist of the following:


|                                                                                                                |   |          |   |             
|--------------------------------------------------------------------------------------------------------------- | - | -------- | - | ------------
|                                                                                                                |   | June 30, |   | December 31,
|                                                                                                                |   | 2010     |   | 2009        
|Demand note payable to affiliate A-Squared Holdings, Inc.                                                       |   |         
|Issued between February 29, 2008 and June 30, 2010, due
on November 29, 2010, unsecured and bearing interest at |   |         
|15%, interest  payable every 90 days                                                                            | $ | 17,847   | $ | 15,320      
|                                                                                                                |   |          |   |             
|Demand notes payable to affiliate X-Clearing, Inc. issued                                                       |   |         
|between January 16, 2008  to March 3, 2009, due on                                                              |   |         
|December 31, 2010, unsecured and bearing interest at 15%,                                                       |   |         
|interest payable every 90 days                                                                                  |   | 18,573   |   | 18,573      
|                                                                                                                |   |          |   |             
|Total notes payable, related parties                                                                            | $ | 36,420   | $ | 33,893      

Accrued interest payable as of June 30, 2010 and December 31, 2009 was $ 10,209 and $ 6,940, respectively.  Note (3):  Shareholders deficit  The status of our outstanding warrant is as follows: WeightedWeighted Avg.AggregateNumber ofAvg. ExerciseRemainingIntrinsicSharesPriceContractual TermValueOutstanding at December 31, 2009$200,000$0.0012.9 yearsGrantedExercisedCancelledOutstanding at June 30, 2010200,0000.0012.4 yearsExercisable at December 31, 2009$200,000$0.001$Exercisable at June 30, 2010$200,000$0.001$   8|   FOREVER VALUABLE COLLECTIBLES, INC. (A Development Stage Company) Notes to Condensed Unaudited Financial Statements  Note (4):  Income taxes  The Company records its income taxes in accordance with Accounting Standards Codification (ASC) No. 740. The Company incurred net losses during all periods presented resulting in a deferred tax asset, which was fully allowed for; therefore, the net benefit and expense resulted in $-0- in income taxes.    9|   ITEM 2.  MANAGEMENTS DISCUSSION AND ANALYSIS AND PLAN OF OPERATION  The following discussion of our financial condition and results of operations should be read in conjunction with, and is qualified in its entirety by, the consolidated financial statements and notes thereto included in, Item 1 in this Quarterly Report on Form 10-Q. This item contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those indicated in such forward-looking statements.  Forward-Looking Statements   This Quarterly Report on Form 10-Q and the documents incorporated herein by reference contain forward-looking statements that have been made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are based on current expectations, estimates, and projections about our industry, management beliefs, and certain assumptions made by our management.  Words such as anticipates, expects, intends, plans, believes, seeks, estimates, variations of such words, and similar expressions are intended to identify such forward-looking statements.  These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict; therefore, actual results may differ materially from those expressed or forecasted in any such forward-looking statements.  Unless required by law, we undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.  However, readers should carefully review the risk factors set forth herein and in other reports and documents that we file from time to time with the Securities and Exchange Commission, particularly the Annual Reports on Form 10-K, Quarterly reports on Form 10-Q and any Current Reports on Form 8-K.  Overview and History  Forever Valuable is a corporation which was formed under the laws of the State of Colorado on November 29, 2007.  As of April 18, 2009, we are a wholly-owned subsidiary of X-Clearing Corporation (X-Clearing).  Prior to that we had been a wholly-owned subsidiary of Fincor, Inc.  Fincor, Inc. was sold in a private transaction on April 17, 2009, and all previously held subsidiary operations were realigned under the new parent company, X-Clearing Corporation.  On December 5, 2007, the directors of Fincor approved, subject to the effectiveness of a registration with the Securities and Exchange Commission, a spin-off to Fincor shareholders of record as of August 13, 2008 (the Record Date), on a pro rata basis, with one (1) Forever Valuable common share to be issued for each one (1) Fincor common share as of the Record Date. Since Fincors business is totally unrelated to the proposed activities of Forever Valuable, the Fincor directors decided it was in the best interest of both Fincor and Forever Valuable and Fincor's shareholders to spin-off Forever Valuable to better define the role of Fincor as a separate, stand-alone entity. The spin-off was completed in August, 2008.  10|     Our office is located at 535 16th Street, Suite 810, Denver, Colorado 80202. Our telephone number is (303) 573-1000 .  We have not been subject to any bankruptcy, receivership or similar proceeding.  Results of Operations  Our activities have been primarily focused on organization as a development stage enterprise.  From inception through June 30, 2010, revenues were $ 1,085.  Operating expenses, which are composed of selling, general and administrative expenses for the three months ended June 30, 2010 were $16,752 compared with $16,276 for the three months ended June 30, 2009.  Operating expenses for the six months ended June 30, 2010, were $ 36,075 compared to $ 37,333 for the six months ended June 30, 2009, and $ 196,817 from inception through June 30, 2010.  The major components of operating expenses include rent, transfer agent fees, marketing costs, and professional fees, which consist of legal and accounting costs.   As a result of the foregoing, we had a net loss before income taxes of $18,309 for the three months ended June 30, 2010 compared with $17,561 for the three months ended June 30, 2009.  The net loss before income taxes for the six months ended June 30, 2010 was $39,221 ($0.00 per share) compared to a net loss before income taxes of $ 39,288 ($0.00 per share) for the six months ended June 30, 2009.  The total net loss before income taxes from inception through June 30, 2010 is $ 207,852 ($0.00 per share).  For the fiscal year ended 2009 our accountants have expressed doubt about our ability to continue as a going concern as a result of our continued net losses. Our ability to achieve and maintain profitability and positive cash flow is dependent upon our ability to locate clients who will purchase our products and our ability to generate revenues.  We expect that we will need to raise additional funds if we decide to pursue more rapid expansion, the development of new or enhanced products, appropriate responses to competitive pressures, or the acquisition of complementary businesses or technologies, or if we must respond to unanticipated events that require us to make additional investments. We cannot assure that additional financing will be available when needed on favorable terms, or at all.  We may continue to incur operating losses in future periods because we will be incurring expenses and not generating sufficient revenues. We cannot guarantee that we will be successful in generating sufficient revenues or other funds in the future to cover these operating costs. Failure to generate sufficient revenues or additional financing when needed could cause us to go out of business.   Liquidity and Capital Resources  As of June 30, 2010, we had cash or cash equivalents of $ 574.  11|    Net cash used for operating activities was $ 4,616 for the six months ended June 30, 2010 compared to net cash used for operating activities of $ 10,148 for the six months ended June 30, 2009 and $ 36,819 from inception through June 30, 2010.  Cash flows provided by financing activities were $ 2,500 for the six months ended June 30, 2010 compared to $ 16,500 the six months ended June 30, 2009 and $ 37,393 from inception through June 30, 2010.  These cash flows were all related to borrowings from a related party and the sale of common stock.  We believe that we have sufficient capital in the short term for our current level of operations. This is because we believe that we can attract sufficient product sales within our present organizational structure and resources to become profitable in our operations. We do not anticipate needing to raise additional capital resources in the next twelve months.  Our principal source of liquidity will be our operations and our unused credit facility as discussed in Note 2 to the accompanying unaudited financial statements for the period ended June 30, 2010, We expect variation in revenues to account for the difference between a profit and a loss. Also business activity is closely tied to the economy of Denver and the U.S. economy. In any case, we try to operate with minimal overhead. Our primary activity will be to seek to develop sales. If we succeed in generating sufficient sales, we will become profitable. We cannot guarantee that this will ever occur. Our plan is to build our company in any manner which will be successful.   Critical Accounting Policies  We have identified the following policies below as critical to our business and results of operations. Our reported results are impacted by the application of the following accounting policies, certain of which require management to make subjective or complex judgments. These judgments involve making estimates about the effect of matters that are inherently uncertain and may significantly impact quarterly or annual results of operations. For all of these policies, management cautions that future events rarely develop exactly as expected, and the best estimates routinely require adjustment. Specific risks associated with these critical accounting policies are described in the following paragraphs.    Use of Estimates in the Preparation of Financial Statements  The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.  12|   Revenue Recognition  We had revenues of $500 during the six months ended June 30, 2010.  Anticipated future operating revenue will represent product sales in connection with the accumulated level of acquired memorabilia and collectibles inventory.  Such revenues will be recorded as the memorabilia and collectibles are sold.  Plan of Operation for July 01, 2010 to June 30, 2011  Forever Valuable intends to continue its operations of the sales of a memorabilia and collectibles business. Our operating costs are expected to range between $50,000 and $75,000 for the fiscal year ending December 31, 2010.  These operating costs include and all other costs of operations.  However, the operating costs and expected revenue generation are difficult to predict.  We expect to generate revenues in the next nine months from memorabilia and collectibles operations using referrals from business contacts and unrelated individuals and other entities that operate in the memorabilia and collectibles business.  Since there can be no assurances that revenues will be sufficient to cover operating costs for the foreseeable future, it may be necessary to raise additional funds.  If we are unable to raise funds to cover any operating deficit after fiscal year ending December 31, 2010, our business may fail.  We have minimal inventory which we acquired from affiliates.  We purchased additional inventory in the six months ended June 30, 2010, though no inventory was acquired in the three months ended June 30, 2010.  We will continue to purchase additional inventory.  Initially, we have and will continue to sell our inventory on a cash-only basis. At some point within the next twelve months of our operations, we plan to begin accepting credit cards. We will continue to attend at least one trade show per month to increase the level of our inventory.  We also plan to purchase a table and display system to set up at major trade shows.  We anticipate this will allow us to make sales as follows:  1.  To business contacts made at trade shows attended,  2.  Collectors contacted at the trade shows.  We also plan to increase our sales in the next nine months by establishing a website and utilizing Ebay, the internet powerhouse for selling memorabilia and collectible items online. The site would be a virtual store, where prospective buyers can see a list of the available merchandise and view pictures of the more expensive items.  Only items that have been purchased at an acceptable wholesale price will be offered.  Following activation of the company website, we will promote the website with ads in all hobby publications and when selling auction lots on Ebay.  We will send e-mail notices to our extensive mailing list promoting the website.  Seasonality  We expect that our business will be seasonal with most revenue generated in the latter half of the calendar year.  13|   ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.  None.   ITEM 4. CONTROLS AND PROCEDURES  As of the end of the period covered by this report, based on an evaluation of our disclosure controls and procedures (as defined in Rules 13a -15(e) and 15(d)-15(e) under the Exchange Act), our Chief Executive Officer has concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in our Exchange Act reports is recorded, processed, summarized, and reported within the applicable time periods specified by the SECs rules and forms.  There were no changes in our internal controls over financial reporting that occurred during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.  This report does not include an attestation report of the companys registered public accounting firm regarding internal control over financial reporting. Identified in connection with the evaluation required by paragraph (d) of Rule 240.13a-15 or Rule 240.15d-15 of this chapter that occurred during the registrants last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.   PART II.  OTHER INFORMATION   ITEM 1.  LEGAL PROCEEDINGS  There are no legal proceedings, to which we are a party, which could have a material adverse effect on our business, financial condition or operating results.  ITEM 1A. RISK FACTORS  You should carefully consider the risks and uncertainties described below; and all of the other information included in this document. Any of the following risks could materially adversely affect our business, financial condition or operating results and could negatively impact the value of your investment.  The occurrence of any of the following risks could materially and adversely affect our business, financial condition and operating result. In this case, the trading price of our common stock could decline and you might lose all or part of your investment.   14|   If we do not generate adequate revenues to finance our operations, our business may fail.  On June 30, 2010, we had a cash position of $ 574.  We had a net loss of $18,309 for the three months ended June 30, 2010 and a net loss of $39,221 for the six months ended June 30, 2010.  We have had a net loss from inception through June 30, 2010 of $ 207,852.  Since there can be no assurances that revenues will be sufficient to cover operating costs for the near future, it will be necessary to rely upon credit facilities in place or raise additional funds.  If we are unable to renew our line of credit or raise additional funds to cover our operating deficit after fiscal year ending December 31, 2010, our business may fail.  Because we had incurred a loss and have no history of operations, our accountants have expressed doubts about our ability to continue as a going concern.  For the fiscal period ended June 30, 2010, our accountants have expressed doubt about our ability to continue as a going concern as a result of lack of history of operations, limited assets, and operating losses since inception. Our ability to achieve and maintain profitability and positive cash flow is dependent upon:  ·       our ability to locate customers who will use our memorabilia and collectibles services; and  ·       our ability to generate revenues.  Based upon current plans, we expect to incur operating losses in future periods because we will be incurring expenses and not generating sufficient revenues. We expect our operating costs to range between $50,000 and $75,000 for the fiscal year ending December 31, 2010.  We cannot guarantee that we will be successful in generating sufficient revenues or other funds in the future to cover these operating costs. Failure to generate sufficient revenues will cause us to go out of business.  Our success will depend upon our ability to develop relationships with key collectible vendors. If we cannot develop sufficient relationships, we may never become profitable.  Our performance depends, in large part, on our ability to purchase contemporary collectibles merchandise in sufficient quantities at competitive prices. We have no long-term purchase contracts or other contractual assurances of supply, pricing or access to new products. Because customers of collectibles merchandise often collect specific product lines, our inability to obtain collectibles merchandise from a particular vendor could have a material adverse effect on our financial condition and results of operations. Moreover, there can be no assurance that vendors will continue to manufacture desirable collectibles merchandise or that vendors will not discontinue manufacturing product lines that have proved popular. There can be no assurance that we will be able to acquire desired merchandise in sufficient quantities on terms acceptable to us, or that an inability to acquire suitable merchandise, or the loss of one or more key vendors, will not have a material adverse effect on our financial condition and results of operations.   15|   We must compete in a highly competitive industry. We have not engaged in any operations and may never be able to compete effectively.  The sports collectibles industry is highly fragmented and competitive. In addition to other collectibles retailers, we will compete with mid-to-upscale department stores, gift stores, TV shopping, and collectors. We may even, in certain cases, compete with the owners of the licensed sports products who sell products through their own stores and other marketing channels. All of our competitors are larger and have substantially greater financial, marketing and other resources than us. In addition, although the primary points of competition are service and availability of desired merchandise, there can be no assurance that pricing competition will not develop.  Other retailing companies with significantly greater capital and other resources than us may enter or expand their operations in the collectibles industry, which could change the competitive dynamics of the industry.  Because retailers of collectibles generally do not own the proprietary rights to the products that they sell, the barriers to entry to these industries are not significant.  Therefore, there can be no assurance that additional participants will not enter the market or that we could compete effectively with such entrants.  Further, although our management has begun preliminary activities, we have not commenced operations. We are new, have no operating history and, therefore, will have difficulty competing with a well-established company. There are numerous competitors that are larger, better established, better financed and better known than we are now or can expect to be in the foreseeable future. Even if the maximum number of shares is sold, we will be at a competitive disadvantage to firms that are already established. We cannot expect to be a significant participant in the market for collectibles within the foreseeable future.  Our business has a seasonal fluctuation in sales, which can develop fluctuating quarterly results in our operations.  The collectibles industry can be subject to seasonal variations in demand. For example, we expect that most of our collectibles operations will see the greatest demand during the winter holiday shopping period. Consequently, we expect to be most profitable during the fourth quarter of our fiscal year.  Quarterly results may also be materially affected by the timing of new product introductions, the gain or loss of significant customers or product lines and variations in merchandise mix. We will make decisions about purchases of inventory well in advance of the time at which such products are intended to be sold. Accordingly, our performance in any particular quarter may not be indicative of the results that can be expected for any other quarter or for the entire year.  Significant deviations from projected demand for collectibles merchandise could have a material adverse effect on our financial condition and quarterly or annual results of operations.   16|   We expect to be directly affected by fluctuations in the general economy.  Demand for collectibles merchandise is affected by the general economic conditions in the United States.  When economic conditions are favorable and discretionary income increases, purchases of non-essential items like collectibles merchandise and animation art generally increase.  When economic conditions are less favorable, sales of collectibles merchandise and animation art are generally lower. In addition, we may experience more competitive pricing pressure during economic downturns.  Therefore, any significant economic downturn or any future changes in consumer spending habits could have a material adverse effect on our financial condition and results of operations.  We expect our products to be subject to changes in customer taste.  The markets for our products are subject to changing customer tastes and the need to create and market new products.  Demand for collectibles is influenced by the popularity of certain themes, cultural and demographic trends, marketing and advertising expenditures and general economic conditions. Because these factors can change rapidly, customer demand also can shift quickly. Some collectibles appeal to customers for only a limited time.  The success of new product introductions depends on various factors, including product selection and quality, sales and marketing efforts, timely production and delivery and consumer acceptance.   We may not always be able to respond quickly and effectively to changes in customer taste and demand due to the amount of time and financial resources that may be required to bring new products to market.  If we were to materially misjudge the market, certain of our inventory may remain unsold.  The inability to respond quickly to market changes could have a material adverse effect on our financial condition and results of operations.   Our proposed business will be concentrated in only one segment.  We plan to be in the business of collectibles business, with a focus in the sports area.  Our proposed operations, even if successful, will in all likelihood result in the operation of only one business. Our lack of diversity into a number of areas may subject us to economic fluctuations within our particular business or industry and therefore increase the risks associated with our proposed operations.  17|    As our stock will not be listed on NASDAQ or another national exchange, trading in our shares will be subject to rules governing "penny stocks," which will impair trading activity in our shares.  As we do not intend to list our stock on NASDAQ or another national exchange, our stock will therefore be subject to rules adopted by the Commission regulating broker dealer practices in connection with transactions in "penny stocks." Those disclosure rules applicable to "penny stocks" require a broker-dealer, prior to a transaction in a "penny stock" not otherwise exempt from the rules, to deliver a standardized list disclosure document prepared by the Commission. That disclosure document advises an investor that investment in "penny stocks" can be very risky and that the investor's salesperson or broker is not an impartial advisor but rather paid to sell the shares. The disclosure contains further warnings for the investor to exercise caution in connection with an investment in "penny stocks," to independently investigate the security, as well as the salesperson with whom the investor is working and to understand the risky nature of an investment in this security.  The broker dealer must also provide the customer with certain other information and must make a special written determination that the "penny stock" is a suitable investment for the purchaser and receive the purchaser's written agreement to the transaction. Further, the rules require that, following the proposed transaction, the broker provide the customer with monthly account statements containing market information about the prices of the securities.   These disclosure requirements may have the effect of reducing the level of trading activity in the secondary market for our common stock. Many brokers may be unwilling to engage in transactions in our common stock because of the added disclosure requirements, thereby making it more difficult for stockholders to dispose of their shares. You will also find it difficult to obtain accurate information about, and/or quotations as to the price of, our common stock.   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  18|     ITEM 6.  EXHIBITS  Exhibit No.Description31.1Certification of CEO/CFO pursuant to Sec 30232.1Certification of CEO/CFO pursuant to Sec 906  Reports on Form 8-K   We filed no under cover of Form 8K for the fiscal quarter ended June 30, 2010.   19|   SIGNATURES  Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on July 28, 2010.  FOREVER VALUABLE COLLECTIBLES, INC.By:/s/ Jodi StevensJodi Stevens   20|