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,
2009




[]
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)





Colorado
              41-2230041(State
      or other jurisdiction
              (IRS
      Employer File Number)of
      incorporation)





535
      16th Street, Suite
      810Denver, CO
              80202(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





Indicate
by check mark whether the registrant: (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 has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T(Section 232.405 of
this chapter) during the preceding 12 months(or such shorter period that the
registrant was required to submit and post such files. Yes []  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, 2009,  was 11,950,600.











FORM
10-Q





Forever
Valuable Collectibles, Inc.





TABLE OF
CONTENTS








PagePART
      I  FINANCIAL INFORMATIONItem 1. Financial Statements for the period ended June 30,
      2009
                                        3Item 2. Management’s Discussion and Analysis and Plan of
      Operation
                                        10Item 3. Quantitative and Qualitative Disclosures About Market
      Risk
                                        14Item 4 Controls and Procedures
                                        14Item
      4T. Controls and Procedures
                                        14PART
      II  OTHER INFORMATIONItem
      1. Legal Proceedings
                                        14Item
      1A.  Risk Factors
                                        14Item
      2. Unregistered Sales of Equity Securities and Use of
    Proceeds
                                        18Item
      3. Defaults Upon Senior Securities
                                        18Item
      4. Submission of Matters to a Vote of Security Holders
                                        18Item
      5. Other Information
                                        18Item
      6. Exhibits
                                        19Signatures
                                        19









-
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
      31,2009
                                        
                                        
                                        2008(Unaudited)
                                        
                                        
                                        (Audited)AssetsAssets:Cash
                                        
                                        $
                                        6,564
                                        
                                        
                                        $
                                        212Merchandise inventory, at cost
                                        
                                        
                                        3,135
                                        
                                        
                                        
                                        3,235$
                                        9,699
                                        
                                        
                                        $
                                        3,447Liabilities
      and Shareholders’ DeficitLiabilities:Accounts payable:Related party
      (Note 2)
                                        
                                        $
                                        1,545
                                        
                                        
                                        $
                                        3,375Other
                                        
                                        
                                        2,980
                                        
                                        
                                        
                                        5,324Notes payable, related parties (Note 2)
                                        
                                        
                                        33,324
                                        
                                        
                                        
                                        16,824Accrued interest payable, related parties (Note 2)
                                        
                                        
                                        4,040
                                        
                                        
                                        
                                        1,950Total
      liabilities
                                        
                                        
                                        41,889
                                        
                                        
                                        
                                        27,473Shareholders’
      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,11,950,600
      and 11,925,600 shares issued and outstanding, respectively
                                        
                                        
                                        7,211
                                        
                                        
                                        
                                        4,711Additional
      paid-in capital
                                        
                                        
                                        90,650
                                        
                                        
                                        
                                        62,027Deficit
      accumulated during the development stage
                                        
                                        
                                        (130,051
                                        )
                                        
                                        
                                        (90,764
                                        )Total
      shareholders’ deficit
                                        
                                        
                                        (32,190
                                        )
                                        
                                        
                                        (24,026
                                        )$
                                        9,699
                                        
                                        
                                        $
                                        3,447
  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 Six Months
                                          
                                          
                                          For
      The Three Months
                                          
                                          
                                          throughEnded
      June 30,
                                          
                                          
                                          Ended
      June 30,
                                          
                                          
                                          June
      30,2009
                                          
                                          
                                          2008
                                          
                                          
                                          2009
                                          
                                          
                                          2008
                                          
                                          
                                          2009Net
      sales and gross revenue
                                          
                                          $
                                          585
                                          
                                          
                                          $
                                          —
                                          
                                          
                                          $
                                          —
                                          
                                          
                                          $
                                          —
                                          
                                          
                                          $
                                          585—Cost
      of Goods Sold
                                          
                                          
                                          450
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          450Gross
      Margin
                                          
                                          
                                          135
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          135Contributed
      rent and services (Note 2)
                                          
                                          
                                          28,623
                                          
                                          
                                          
                                          28,623
                                          
                                          
                                          
                                          14,312
                                          
                                          
                                          
                                          16,312
                                          
                                          
                                          
                                          90,640Selling,
      general and administrativeexpenses,
      related party
                                          
                                          
                                          1,408
                                          
                                          
                                          
                                          2,318
                                          
                                          
                                          
                                          738
                                          
                                          
                                          
                                          1,071
                                          
                                          
                                          
                                          4,783Selling,
      general and administrativeexpenses,
      other
                                          
                                          
                                          7,302
                                          
                                          
                                          
                                          4,633
                                          
                                          
                                          
                                          1,226
                                          
                                          
                                          
                                          133
                                          
                                          
                                          
                                          30,449Operating
      loss
                                          
                                          
                                          (37,198
                                          )
                                          
                                          
                                          (35,574
                                          )
                                          
                                          
                                          (16,276
                                          )
                                          
                                          
                                          (17,516
                                          )
                                          
                                          
                                          (125,737
                                          )Other
      income (expense):Interest
      expense
                                          
                                          
                                          (2,090
                                          )
                                          
                                          
                                          (682
                                          )
                                          
                                          
                                          (1,285
                                          )
                                          
                                          
                                          (514
                                          )
                                          
                                          
                                          (4,314
                                          )Loss
      before income taxes
                                          
                                          
                                          (39,288
                                          )
                                          
                                          
                                          (36,256
                                          )
                                          
                                          
                                          (17,561
                                          )
                                          
                                          
                                          (18,030
                                          )
                                          
                                          
                                          (130,051
                                          )Income
      taxes (Note 4):Income
      tax provision
                                          
                                          
                                          —
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          —
                                          
                                          
                                          
                                          —Net
      loss
                                          
                                          $
                                          (39,288
                                          )
                                          
                                          $
                                          (36,256
                                          )
                                          
                                          $
                                          (17,561
                                          )
                                          
                                          $
                                          (18,030
                                          )
                                          
                                          $
                                          (130,051
                                          )Basic
      and diluted loss per share
                                          
                                          $
                                          (0.00
                                          )
                                          
                                          $
                                          (0.00
                                          )
                                          
                                          $
                                          (0.00
                                          )
                                          
                                          $
                                          (0.00
                                          )Weighted
      average common shares outstanding
                                          
                                          
                                          11,942,267
                                          
                                          
                                          
                                          11,920,600
                                          
                                          
                                          
                                          11,950,600
                                          
                                          
                                          
                                          11,920,600
  See
accompanying notes to condensed financial statements
 
 -
4 -
 
 
 
 FOREVER
VALUABLE COLLECTIBLES, INC.
 (A
Development Stage Company)
 Condensed
Statement of Changes in Shareholders' Deficit (Unaudited)
  DeficitAccumulatedAdditional
                                            
                                            
                                            During
      thePreferred
      Stock
                                            
                                            
                                            Common
      Stock
                                            
                                            
                                            Paid-in
                                            
                                            
                                            DevelopmentShares
                                            
                                            
                                            Amount
                                            
                                            
                                            Shares
                                            
                                            
                                            Amount
                                            
                                            
                                            Capital
                                            
                                            
                                            Stage
                                            
                                            
                                            TotalBalance
      atDecember
      31, 2008
                                            
                                            
                                            —
                                            
                                            
                                            $
                                            —
                                            
                                            
                                            
                                            11,925,600
                                            
                                            
                                            $
                                            4,711
                                            
                                            
                                            $
                                            62,027
                                            
                                            
                                            $
                                            (90,763
                                            )
                                            
                                            $
                                            (24,025
                                            )March
      2009, common stockissued
      in exchange forprofessional
      services (Note 2)
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            25,000
                                            
                                            
                                            
                                            2,500
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            2,500Contributed
      rent andservices
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            28,623
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            28,623Net
      loss
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            (39,288
                                            )
                                            
                                            
                                            (39,288
                                            )Balance
      atJune
      30, 2009
                                            
                                            
                                            —
                                            
                                            
                                            $
                                            —
                                            
                                            
                                            
                                            11,950,600
                                            
                                            
                                            $
                                            7,211
                                            
                                            
                                            $
                                            90,650
                                            
                                            
                                            $
                                            (130,051
                                            )
                                            
                                            $
                                            (32,190
                                            )
  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
                                                  
                                                  
                                                  throughJune
      30,
                                                  
                                                  
                                                  June
      30,2009
                                                  
                                                  
                                                  2008
                                                  
                                                  
                                                  2009Cash
      flows from operating activities:Net
      loss
                                                  
                                                  $
                                                  (39,288
                                                  )
                                                  
                                                  $
                                                  (36,256
                                                  )
                                                  
                                                  $
                                                  (130,051
                                                  )Adjustments
      to reconcile net loss to net cashused
      by operating activities:Share-based
      payment
                                                  
                                                  
                                                  2,500
                                                  
                                                  
                                                  
                                                  —
                                                  
                                                  
                                                  
                                                  3,010Contributed
      services (Note 2)
                                                  
                                                  
                                                  24,000
                                                  
                                                  
                                                  
                                                  24,000
                                                  
                                                  
                                                  
                                                  76,000Contributed
      rent (Note 2)
                                                  
                                                  
                                                  4,623
                                                  
                                                  
                                                  
                                                  4,623
                                                  
                                                  
                                                  
                                                  14,640Changes
      in operating assets and liabilities:Inventory
                                                  
                                                  
                                                  100
                                                  
                                                  
                                                  
                                                  (400
                                                  )
                                                  
                                                  
                                                  76Accounts
      payable
                                                  
                                                  
                                                  (4,174
                                                  )
                                                  
                                                  
                                                  (5,500
                                                  )
                                                  
                                                  
                                                  4,525Accrued
      interest related party
                                                  
                                                  
                                                  2,090
                                                  
                                                  
                                                  
                                                  682
                                                  
                                                  
                                                  
                                                  4,040Net
      cash used inoperating
      activities
                                                  
                                                  
                                                  (10,148
                                                  )
                                                  
                                                  
                                                  (12,851
                                                  )
                                                  
                                                  
                                                  (27,759
                                                  )Cash
      flows from financing activities:Proceeds
      from issuance of related party notes
                                                  
                                                  
                                                  16,500
                                                  
                                                  
                                                  
                                                  12,250
                                                  
                                                  
                                                  
                                                  33,323Proceeds
      from issuance of commonstock,
      net of issuance costs
                                                  
                                                  
                                                  —
                                                  
                                                  
                                                  
                                                  —
                                                  
                                                  
                                                  
                                                  1,000Net
      cash provided byfinancing
      activities
                                                  
                                                  
                                                  16,500
                                                  
                                                  
                                                  
                                                  12,250
                                                  
                                                  
                                                  
                                                  34,323Net
      change in cash andcash
      equivalents
                                                  
                                                  
                                                  6,352
                                                  
                                                  
                                                  
                                                  (601
                                                  )
                                                  
                                                  
                                                  6,564Cash
      and cash equivalents:Beginning of
      period
                                                  
                                                  
                                                  212
                                                  
                                                  
                                                  
                                                  1,000
                                                  
                                                  
                                                  
                                                  —End of
      period
                                                  
                                                  $
                                                  6,564
                                                  
                                                  
                                                  $
                                                  399
                                                  
                                                  
                                                  $
                                                  6,564Supplemental
      disclosure of cash flow information:Cash
      paid during the period for:Income
      taxes
                                                  
                                                  $
                                                  —
                                                  
                                                  
                                                  $
                                                  —
                                                  
                                                  
                                                  $
                                                  —Interest
                                                  
                                                  $
                                                  —
                                                  
                                                  
                                                  $
                                                  —
                                                  
                                                  
                                                  $
                                                  —Non-cash
      financing activities:Shares
      issued for property (Note 2)
                                                  
                                                  $
                                                  —
                                                  
                                                  
                                                  $
                                                  3,211
                                                  
                                                  
                                                  $
                                                  3,211
  See
accompanying notes to condensed financial statements




-
6 -







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, 2009, the results of operations for
the six months ended June 30, 2009 and 2008, and cash flows for the six months
ended June 30, 2009 and 2008 and the period from November 29, 2007 (inception)
through June 30, 2009. 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,
2008.




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 six month period ended June 30, 2009 are not necessarily
indicative of the results to be expected for the full year ending December 31,
2009.




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 $ 585
from our inception and at June 30, 2009 we had a cash position of $
6,564.




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.





-
7 -





FOREVER
VALUABLE COLLECTIBLES, INC.


(A
Development Stage Company)


Notes
to Condensed Unaudited Financial Statements





(2)  Related Party
Transactions





An
affiliate contributed office space to us during the period from November 29,
2007 through June 30, 2009.  We recognized rent expense totaling $
4,623 for each of the periods ending June 30, 2009 and 2008, and $14,640 for the
period from November 29, 2007 to June 30, 2009.  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 the period
from November 29, 2007 through June 30, 2009.  We recognized $ 24,000
for the quarters ending June 30, 2009 and 2008, and $ 76,000 for the period from
November 29, 2007 to June 30, 2009, in contributed services
expense.  The Board of Directors valued the contribution based on
prevailing rates for similar services in the local area.





During
March 2009, we issued 25,000 shares of common stock to our stock transfer agent,
X-Pedited Transfer Corp., an affiliate, for payment of professional
services.  The transaction was recorded based on the fair value of the
services rendered, which totaled $2,500, or $0.10 per share.





We have a
$200,000 line of credit from A-Squared Holdings, Inc. (“A-Squared”), an
affiliate, to cover operating expenses.  Interest is at 15 percent,
payable quarterly.  The line of credit matures in November 2009,
however, A-Squared may, at its option, extend the facility for one-year in
consideration of a renewal fee equal to 1.5% of the then outstanding principal
balance due. The unused portion of the credit facility at June 30, 2009 was
$184,916.





As of
June 30, 2009, notes payable, related parties, consist of the
following:




June
      30,
                          
                          
                          December
      31,2009
                          
                          
                          2008Demand
      note payable to affilliate A-Squared Holdings, Inc.February
      29, 2008, due on November 29, 2009, unsecuredand
      bearing interest at 15%, interest  payable every 90
      days
                          
                          $
                          15,084
                          
                          
                          $
                          5,084Demand
      notes payable to affilliate Fincor, Inc. issued fromFebruary
      11, 2008  to March 3, 2009, and due on November29,
      2009, unsecured and bearing interest at 15%, interestpayable
      every 90 days
                          
                          
                          18,240
                          
                          
                          
                          11,740Total
      notes payable, related parties
                          
                          $
                          33,324
                          
                          
                          $
                          16,824





Interest expense accrued
during the six months ended June 30, 2009 and 2008 was $ 2,090 and $ 1,285
respectively.





-
8 -





FOREVER
VALUABLE COLLECTIBLES, INC.


(A
Development Stage Company)


Notes
to Condensed Unaudited Financial Statements
















(3)  Shareholders’
deficit





The
status of our outstanding warrant is as follows:




Weighted
                    
                    Weighted
      Avg.
                    AggregateNumber
      of
                    
                    
                    Avg.
      Exercise
                    
                    Remaining
                    IntrinsicShares
                    
                    
                    Price
                    
                    Contractual
      Term
                    ValueOutstanding
      at December 31, 2008
                    
                    $
                    200,000
                    
                    
                    $
                    0.001
                    
                    3.9
      yearsGranted.
                    
                    
                    —
                    
                    
                    
                    —Exercised
                    
                    
                    —
                    
                    
                    
                    —Cancelled
                    
                    
                    —
                    
                    
                    
                    —Outstanding
      at June 30, 2009
                    
                    
                    200,000
                    
                    
                    
                    0.001
                    
                    3.4
      yearsExercisable
      at December 31, 2008
                    
                    $
                    200,000
                    
                    
                    $
                    0.001
                    
                    
                    $      
      —Exercisable
      at June 30, 2009
                    
                    $
                    200,000
                    
                    
                    $
                    0.001
                    
                    
                    $    
      —







(4)Income taxes





The
Company records its income taxes in accordance with Statement of Financial
Accounting Standards No. 109, “Accounting for Income Taxes”. 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 Report on Form 10-SB, and Annual Reports on Form
10-KSB, 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, 2009, revenues were $ 585.





Operating
expenses, which are composed of selling, general and administrative expenses for
the six months ended June 30, 2009, were $ 37,198 compared to $ 35,574 for the
six months ended June 30, 2008, and $ 125,737 from inception through June 30,
2009.  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 $ 39,288
($0.00 per share) for the six months ended June 30, 2009 compared to a net loss
before income taxes of $ 36,256
($0.00 per share) for the six months ended June 30, 2008, and $ 130,051
($0.00 per share) from inception through June 30, 2009.





For the
fiscal year ended 2008 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.





-
11 -





Liquidity
and Capital Resources





As of
June 30, 2009, we had cash or cash equivalents of $ 6,564.





Net cash
used for operating activities was $ 10,148 for the six months ended June 30,
2009 compared to net cash used for operating activities of $ 12,851 for the six
months ended June 30, 2008 and $ 27,759 from inception through June 30,
2009.





Cash
flows provided by financing activities were $ 16,500 for the six months ended
June 30, 2009 compared to $ 12,250 the six months ended June 30, 2008 and $
34,323 from inception through June 30, 2009.  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, 2009, 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 no revenue during the period ended June 30, 2009. 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, 2009 to December 31, 2009.




Forever
Valuable intends to continue its operations of the sales of a memorabilia and
collectibles business. Our operating costs are expected to range between $30,000
and $50,000 for the fiscal year ending December 31, 2009.  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 six 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, 2009,
our business may fail.




We have minimal inventory which
we acquired from affiliates. We purchased additional inventory in the six
months ended June 30, 2009 and will continue to purchase appropriate
inventory.  Initially, we have and will continue to sell our inventory
on a cash-only basis. At some point within the next six 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 six 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.





-
13 -





Seasonality




We
expect that our business will be seasonal with most revenue generated in the
latter half of the calendar year.







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.





-
14 -





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.





If
we do not generate adequate revenues to finance our operations, our business may
fail.





On June 30, 2009, we had a cash position of $ 6,564.  We have had a
net loss from inception through June 30, 2009 of $ 130,051.  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, 2009, 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, 2009, 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:




l      our
ability to locate customers who will use our memorabilia and collectibles
services; and





l       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 $30,000 and
$50,000 for the fiscal year ending December 31, 2009. 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.





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.





-
17 -







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.
            Description31.1
            Certification
      of CEO/CFO pursuant to Sec 30232.1
            Certification
      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,
2009.








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 August 4 ,
2009.





FOREVER
      VALUABLE COLLECTIBLES, INC.By:
            /s/
      Jodi StevensJodi
      Stevens





- 19 -