**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**





**FORM
      10-QSB**





(X
                )
            QUARTERLY
                REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITES EXCHANGE
                ACT OF
                1934





For
                the
                quarter period ended October 31,
                2007





(
                )
            TRANSITION
                REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE EXCHANGE ACT





For
                the
                transition period formtoCommission
                File
                number333-145879





**SIGA
      RESOURCES, INC.**


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





Nevada
            74-3207964(State
                or other jurisdiction of incorporation or organization)
            (IRS
                Employer Identification No.)





8
                Nairal Road, Ralwai, Suva, Fiji(Address
                of principal executive offices)





(679)
                338-6092(Issuer’s
                telephone number)





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





Check
      whether the issuer (1) filed all reports required to be filed by Section 13
      or
      15(d) of the 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 shell company (as defined in Rule
      12b-2 of the Exchange Act)


Yes
      [ X ]
      No [ ]





**APPLICABLE
      ONLY TO ISSUERS INVOLVED IN BANKRUPTCY**


**PROCEEDINGS
      DURING THE PROCEDING FIVE YEARS**





Check
      whether the registrant filed all documents and reports required to be filed
      by
      Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities
      under a plan confirmed by a court. Yes □ No □





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





**APPLICABLE
      ONLY TO CORPORATE ISSUERS**





State
      the
      number of shares outstanding of each of the issuer’s classes of common equity,
      as of the latest practicable date:





November
      15, 2007: 1,251,000 common shares





Transitional
      Small Business Disclosure format (Check one):  Yes [ ] 
No
      [X]








-1-







**INDEX**





**Page**
              **Number****PART
                1.**
            FINANCIAL
                INFORMATION**ITEM
                1.**
            Financial
                Statements (unaudited)
            **3**Balance
                Sheet as at October 31, 2007 and July 31, 2007
            **4**Statement
                of Operations
              For
                the three ended October 31, 2007 and for the period January 18, 2007
                (Date
                of Inception) to October 31, 2007
            **5**Statement
                of Cash Flows
              For
                the three months ended October 31, 2007 and for the period January
                18,
                2007 (Date of Inception) to October 31, 2007
            **6**Notes
                to the Financial Statements.
            **7****ITEM
                2.**
            Management’s
                Discussion and Analysis or Plan of Operations
            **10****ITEM 3.**
            Controls
                and Procedures
            **20****PART
                11.**
            OTHER
                INFORMATION
            **20****ITEM
                1.**
            Legal
                Proceedings
            **20****ITEM
                2.**
            Unregistered
                Sales of Equity Securities and Use of Proceeds
            **20****ITEM
                3.**
            Defaults
                Upon Senior Securities
            **20****ITEM
                4.**
            Submission
                of Matters to a Vote of Security Holders
            **20****ITEM
                5.**
            Other
                Information
            **20****ITEM
                6.**
            Exhibits
                and Reports on Form 8-K
            **21****SIGNATURES**.
            **22**










-2-







**PART
      1 - FINANCIAL INFORMATION**




**ITEM
      1. FINANCIAL STATEMENTS**




The
      accompanying balance sheets of Siga Resources, Inc. (a pre-exploration stage
      company) at October 31, 2007 (with comparative figures as at July 31, 2007)
      and
      the statement of operations for the three months ended October 31, 2007 and
      for
      the period from January 18, 2007 (date of incorporation) to October 31, 2007
      and
      the statement of cash flows for the three months ended October 31, 2007 and
      for
      the period from January 18, 2007 (date of incorporation) to October 31, 2007
      have been prepared by the Company’s management in conformity with accounting
      principles generally accepted in the United States of America. In the opinion
      of
      management, all adjustments considered necessary for a fair presentation of
      the
      results of operations and financial position have been included and all such
      adjustments are of a normal recurring nature.





Operating
      results for the quarter ended October 31, 2007 are not necessarily indicative
      of
      the results that can be expected for the year ending July 31, 2008.








-3-





**SIGA
      RESOURCES, INC.**


(A
      Pre-exploration Stage Company)


**BALANCE
      SHEETS**





(Unaudited
      - Prepared by Management)




**October
                31,****2007**
            **July
                31,****2007****ASSETS****CURRENT
                ASSETS**Cash
            **$****5,533**
            **$****23,285**Total
                Current Assets
            **$****5,533**
            **$****23,285****LIABILITIES
                AND STOCKHOLDERS’ DEFICIENCY****CURRENT
                LIABILITIES**Accounts
                payable
            **$
                4,537**
            **$
                5,405**Accounts
                payable - related parties
            **6,480**
            **6,039**Total
                Current Liabilities
            **11,017**
            **11,444****STOCKHOLDERS’
                DEFICIENCY**Common
                stock300,000,000
                shares authorized, at $0.001 par value;1,251,000
                shares issued and outstanding
            **1,251**
            **1,251**Capital
                in excess of par value
            **37,599**
            **33,249**Deficit
                accumulated during the pre-exploration stage
            **(44,334)**
            **(22,659)**Total
                Stockholders’ Deficiency
            **(5,484)**
            **11,841****$****5,533**
            **$****23,285**











The
      accompanying notes are an integral part of these unaudited financial
      statements.











-4-







**SIGA
      RESOURCES, INC.**


(A
      Pre-exploration Stage Company)


**STATEMENT
      OF OPERATIONS**


For
      three
      months ended October 31, 2007 and for the period from January 18, 2007 (date
      of
      inception) to October 31, 2007





(Unaudited
      - Prepared by Management)





**Three
                months****ended**
              **July
                31, 2007**
            **From
                January 18,****2007
                (dated of inception)**
              **to********July
                31, 2007****REVENUES**
            **$****-**
            **$****-****EXPENSES**Accounting
                and auditing
            **1,550**
            **5,375**Bank
                charges and interest
            **233**
            **248**Consulting
            **7,500**
            **10,000**Edgarizing
            **1,582**
            **1,582**Exploration
                and staking
            **-**
            **5,000**Filing
                fees
            **3**
            **220**Incorporation
                costs
            **-**
            **720**Legal
            **5,000**
            **6,500**Management
                fees
            **3,000**
            **9,000**Office
            **441**
            **623**Rent
            **900**
            **2,700**Telephone
            **450**
            **1,350**Transfer
                agent’s fees
            **1,016**
            **1,016****NET
                LOSS FROM OPERATIONS**
            **$****(21,675)**
            **$****(44,334)****NET
                LOSS PER COMMON SHARE**Basic
                and diluted
            **$****(0.02)********AVERAGE
                OUTSTANDING SHARES**Basic
            **1,251,000**





The
      accompanying notes are an integral part of these unaudited financial
      statements.








-5-







**SIGA
      RESOURCES, INC.**


(A
      Pre-exploration Stage Company)


**STATEMENT
      OF CASH FLOWS**





For
      the
      three months ended October 31, 2007 and for the period from January 18, 2007
      (date of inception) to October 31, 2007





(Unaudited
      - Prepared by Management)





**Three
                months**
              **ended**
              **October
                31, 2007**
            **From
                January 18,****2007**
              **(date
                of inception) to**
              **October
                31, 2007****CASH
                FLOWS FROM OPERATING****ACTIVITIES:**Net
                loss
            **$
                (21,675)**
            **$
                (44,334)**Adjustments
                to reconcile net loss to net cashprovided
                by operating activities:Changes
                in accounts payable
            **(868)**
            **4,537**Capital
                contributions - expenses
            **4,350**
            **13,050**Net
                Cash Provided (Used) in Operations
            **(18,193)**
            **(26,747)****CASH
                FLOWS FROM INVESTING****ACTIVITIES:**
            **-**
            **-****CASH
                FLOWS FROM FINANCING****ACTIVITIES**Proceeds
                from loan from related party
            **441**
            **6,480**Proceeds
                from issuance of common stock
            **-**
            **25,800****441**
            **32,280**Net
                (Decrease) Increase in Cash
            **(17,752)**
            **5,533**Cash
                at Beginning of Period
            **23,285**
            **-****CASH
                AT END OF PERIOD**
            **$****5,533**
            **$****5,533**







The
      accompanying notes are an integral part of these unaudited financial
      statements








-6-







**SIGA
      RESOURCES, INC.**


(A
      Pre-exploration Stage Company)


**NOTES
      TO FINANCIAL STATEMENTS**


October
      31, 2007





(Unaudited
      - Prepared by Management)




**1.**  **ORGANIZATION**





The
      Company, Siga Resources Inc., was incorporated under the laws of the State
      of
      Nevada on January 18, 2007 with the authorized capital stock of 300,000,000
      shares at $0.001 par value.





The
      Company was organized for the purpose of acquiring and developing mineral
      properties. At the report date mineral claims, with unknown reserves, had been
      acquired. The Company has not established the existence of a commercially
      minable ore deposit and therefore has not reached the development stage and
      is
      considered to be in the pre-exploration stage.





The
      Company has elected July 31 as its fiscal year.





**2.**  **SUMMARY
      OF SIGNIFICANT ACCOUNTING POLICIES**





Accounting
      Methods





The
      Company recognizes income and expenses based on the accrual method of
      accounting.





Dividend
      Policy





The
      Company has not yet adopted a policy regarding payment of
      dividends.





Basic
                and Diluted Net Income (loss) Per
                Share





Basic
                net income (loss) per share amounts are computed based on the weighted
                average number of shares actually outstanding. Diluted net income
                (loss)
                per share amounts are computed using the weighted average number
                of common
                and common equivalent shares outstanding as if shares had been issued
                on
                the exercise of the common share rights unless the exercise becomes
                antidulutive and then only the basic per share amounts are shown
                in the
                report.





Evaluation
      of Long-Lived Assets





The
      Company periodically reviews its long term assets and makes adjustments, if
      the
      carrying value exceeds fair value.








-7-









**SIGA
      RESOURCES, INC.**


(A
      Pre-exploration Stage Company)


**NOTES
      TO FINANCIAL STATEMENTS**


October
      31, 2007





(Unaudited
      - Prepared by Management)




**2.**  **SUMMARY
      OF SIGNIFICANT ACCOUNTING POLICIES - Continued**





Income
      Taxes




The
      Company utilizes the liability method of accounting for income taxes. Under
      the
      liability method deferred tax assets and liabilities are determined based on
      differences between financial reporting and the tax bases of the assets and
      liabilities and are measured using the enacted tax rates and laws that will
      be
      in effect, when the differences are expected to be reversed. An allowance
      against deferred tax assets is recorded, when it is more likely than not, that
      such tax benefits will not be realized.





On
      October 31, 2007 the Company had a net operating loss carry forward of $44,334
      for income tax purposes. The tax benefit of approximately $13,300 from the
      loss
      carry forward has been fully offset by a valuation reserve because the future
      tax benefit is undeterminable since the Company is unable to establish a
      predictable projection of operating profits for future years. Losses will expire
      on 2027.





Foreign
      Currency Translations





Part
      of
      the transactions of the Company were completed in Canadian dollars and have
      been
      translated to US dollars as incurred, at the exchange rate in effect at the
      time, and therefore, no gain or loss from the translation is recognized. The
      functional currency is considered to be US dollars.





Revenue
      Recognition





Revenue
      is recognized on the sale and delivery of a product or the completion of a
      service provided.





Advertising
      and Market Development





The
      company expenses advertising and market development costs as
      incurred.





Financial
      Instruments





The
                carrying amounts of financial instruments are considered by management
                to
                be their fair value to their short term
                maturities.





Estimates
      and Assumptions





Management
      uses estimates and assumptions in preparing financial statements in accordance
      with general accepted accounting principles. Those estimates and assumptions
      affect the reported amounts of the assets and liabilities, the disclosure of
      contingent assets and liabilities, and the reported revenues and expenses.
      Actual results could vary from the estimates that were assumed in preparing
      these financial statements.








-8-





**SIGA
      RESOURCES, INC.**


(A
      Pre-exploration Stage Company)


**NOTES
      TO FINANCIAL STATEMENTS**


October
      31, 2007





(Unaudited
      - Prepared by Management)








**2.**  **SUMMARY
      OF SIGNIFICANT ACCOUNTING POLICIES - Continued**





Statement
                of Cash Flows





For
                the purposes of the statement of cash flows, the Company considers
                all
                highly liquid investments with a maturity of three months or less
                to be
                cash equivalents.





Unproven
      Mining Claim Costs





Cost
      of
      acquisition, exploration, carrying and retaining unproven properties are
      expensed as incurred.





Environmental
                Requirements





At
                the report date environmental requirements related to the mineral
                claim
                acquired are unknown and therefore any estimate of any future cost
                cannot
                be made.





Recent
      Accounting Pronouncements





The
      Company does not expect that the adoption of other recent accounting
      pronouncements will have a material impact on its financial
      statements.





**3.**  **AQUISITION
      OF MINERAL CLAIM**





On
                March 11, 2007, the Company acquired the Valolo Gold Claim located
                in the
                Republic of Fiji for the consideration of $5,000 including a geological
                report. The Valolo Gold Claim is located 10 miles east of the town
                of
                Korovou , Fiji. Under Fijian law, the claim remains in good standing
                as
                long as the Company has an interest in it. There is no annual maintenance
                fees or minimum exploration work required on the
                Claim.





**4.**  **SIGNIFICANT
      TRANSACTIONS WITH RELATED PARTY**





Officers-directors
      and their families have acquired 60% of the common stock issued and have made
      no
      interest, demand loans to the Company of $6,480 and have made contributions
      to
      capital of $13,500 in the form of expenses paid for the Company.





**5.**  **CAPITAL
      STOCK**





On
      July
      11, 2007, Company completed a private placement consisting of 750,000 common
      shares sold to directors and officers at a price of $0.001 per share for a
      total
      consideration of $750. On July 31, 2007, the Company completed a private
      placement of 501,000 common shares at $0.05 per share for a total consideration
      of $25,050.








-9-








**ITEM
      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR**


**PLAN
      OF OPERATIONS**





The
      following discussion should be read in conjunction with the information
      contained in the financial statements of Siga Resources, Inc. (“Siga”) and the
      notes which form an integral part of the financial statements which are attached
      hereto.





The
      financial statements mentioned above have been prepared in conformity with
      accounting principles generally accepted in the United States of America and
      are
      stated in United States dollars.





We
      were
      incorporated in the State of Nevada on January 18, 2007, and established a
      fiscal year end of July 31. We do not have any subsidiaries, affiliated
      companies or joint venture partners.




We
      are a
      start-up, pre-exploration stage company engaged in the search for gold and
      related minerals and have not generated any operating revenues since inception.
      We have one claim call the Valolo Claim located in Fiji. We have incurred losses
      since inception and we must raise additional capital to fund our operations.
      There is no assurance we will be able to raise this capital.




There
      is
      no assurance that a commercially viable mineral deposit, a reserve, exists
      at
      our mineral claim or can be shown to exist until sufficient and appropriate
      exploration is done and a comprehensive evaluation of such work concludes
      economic and legal feasibility. Such work could take many years of exploration
      and would require expenditure of very substantial amounts of capital, capital
      we
      do not currently have and may never be able to raise.




Our
      sole
      holding is a 100% interest in the Valolo Gold Claim located in the Republic
      of
      Fiji. Siga acquired the Valolo Claim for the sum of $5,000. We own no property
      other than the Valolo Claim.




As
      of the
      date of this prospectus, we have not conducted any exploration work on the
      Valolo Claim. **** We
      do not
      have funds sufficient to complete only Phase 1 of a two-phase exploration
      program recommended for the Valolo Claim. Nevertheless, we are hoping to start
      Phase I by no later than the Spring of 2008 through advances from our directors.





We
      have
      no fulltime employees and our management devotes a small percentage of their
      time to the affairs of Siga.





Our
      administrative office is located at 8 Nairal Road, Ralwai, Suva,
      Fiji . Our
      telephone number is (679) 338-6092.




**DESCRIPTION
      OF THE PROPERTY**




Particulars
      of the Valolo Claim, our sole mineral property follow.




**Location
      and Access**




The
      Valolo Claim is located approximately 15 kilometers (9 miles) south of Korovou,
      Fiji. The area covered by the Claim is an active mineral exploration and
      development region with plenty of heavy equipment and operators available for
      hire. Korovou provides all necessary amenities and supplies including, fuel,
      helicopter services, hardware, drilling companies and assay services. Access
      to
      our Claim is via major highway west from Korovou. No water is required for
      the
      purposes of our planned exploration work. No electrical power is required at
      this stage of exploration. Any electrical power that might be required in the
      foreseeable future could be supplied by gas powered portable
      generators.






-10-





The
      claim’s terrain is rugged with elevations ranging from of 1,420 feet to 2,650
      feet. Tropical
      mountain forests grow at lower elevations in the northeast corner of the claim
      and good rock exposure is found along the peaks and ridges in the eastern
      portion of the claim. The climate is mild year round with the rainy season
      falling from May to October.




**Property
      Geology**





A
      belt of
      volcanic rocks, of the Savura Volcanic Group, underlies the property. These
      volcanic rocks are exposed along a wide axial zone of a broad complex. The
      presence of these rocks is on our property is relevant to us as gold
      mineralization, at the nearby (approximately 20 miles to the west of our claim)
      Nasoata Gold Mine, a past producer of gold in commercial quantities, is
      generally concentrated within extrusive volcanic rocks (of the Savura Volcanic
      Group) on the walls of large volcanic caldera.





The
      main
      igneous intrusions consist of ‘Medrausucu’ consisting of tholetic gabbros,
      tonalities and tondjhemites.




Theoletic
      Gabbros, for example, are generally are a greenish or dark coloured fine to
      coarse grained rock. Irregular shaped masses of so called "soda granite" are
      seen in both sharp and gradational contact with the diorite. The different
      phases of Medrausucu are exposed from north of the Valolo Gold Claim to just
      east of the town of Korovou and are principal host rocks for gold veins at
      the
      previously mentioned Nasoata Gold Mine.




On
      a
      regional basis the area of Fiji in which the Valolo Claim is located is notable
      for epi-thermal type gold deposits such as that exploited at the previously
      mentioned Nasoata Gold Mine. While no mineralization has been reported for
      the
      area covered by the Valolo Claim, structures and shear zones affiliated with
      mineralization on adjacent properties pass through the claim.




**Previous
      Exploration**





To
      our
      knowledge based on examination by our geologist of available records, no
      detailed exploration has previously been undertaken on the area covered by
      the
      Valolo Claim.





However,
      numerous showings of mineralization have been discovered in the area and several
      prospects in the area have achieved significant gold production (an aggregate
      of
      1.11 million ounces of gold reported between 1956 and 2002) in the past. The
      same rock units, of the Savura Volcanic Group that are found at those mineral
      occurrences underlie our claim. The Bhatt’ Report has concluded that further
      exploration of the Valolo Claim is warranted.





No
      assurance, however, can be given that any mineralization will found on the
      Valolo Claim.




**Proposed
      Exploration Work - Plan of Operation**




The
      Bhatt’ Report recommends a phased exploration program to properly evaluate the
      potential of the Valolo Claim ***.*** Mr.
      Bhatt is a registered member in good standing of the Geological Society of
      Fiji.
      He is a graduate of University of Queensland, Brisbane, Australia with both
      a
      Bachelor of Science degree, Geology (1971) and a Master of Science (1975).
      Mr.
      Bhatt has practiced his profession as a geologist for over 33 years. He visited
      our claim in March 2007.




We
      must
      conduct exploration to determine what minerals exist on our property and whether
      they can be economically extracted and profitably processed. We plan to proceed
      with exploration of the Valolo Claim by completing Phase I of the work
      recommended in the Bhatt Report, in order to begin determining the potential
      for
      discovering commercially exploitable deposits of gold on our claim.




We
      have
      not discovered any ores or reserves on the Valolo Claim, our sole mineral
      property. Our planned Phase I work is exploratory in nature.






-11-




The
      Bhatt
      Report recommends a two-phase exploration program to properly evaluate the
      potential of the claim. Phase I work will consist of geological mapping and
      geophysical surveying. This will involve, among other things, establishing
      a
      grid and the creation of maps showing all features of the terrain of our claim.
      We will create an actual grid on the ground whereby items can be related one
      to
      another more easily and with greater accuracy. When we map, we will actually
      draw a scale map of the area and make notes on it as to the location where
      anything (e.g. potential mineralization) was found that was of interest. In
      the
      process we will also identify any showings which appear to warrant sampling,
      i.e. any rock formations that appear to warrant our taking soil and rock samples
      from the claims to a laboratory where a determination of the elemental make-up
      of the sample and the exact concentrations of gold and other indicator minerals
      can be made. We anticipate, based on the estimate contained in the Bhatt Report,
      that Phase I work will cost approximately$10,900 (Fiji $17,800). The Valolo
      Claim is located in a tropical climatic area so the claim can be worked year
      round. We anticipate starting Phase I before the end of the Spring of 2008.




Should
      Phase I results warrant further work, and provided we are able to raise
      additional funds to undertake additional work on the Valolo Claim, we would
      undertake the Phase II work recommended in the Bhatt’ Report. The Phase II
      geochemical and surface sampling work would be designed to compare the relative
      concentrations of gold and other indicator minerals in samples so the results
      from different samples can be compared in a more precise manner and plotted
      on a
      map to evaluate their significance.




If
      an
      apparent mineralized zone(s) is identified and narrowed down to a specific
      area
      by the Phase I & II work, we would then consider (again subject to our
      ability to raise additional funds to do so) the feasibility of diamond drilling
      selected targets to test the apparent mineralized zones. The cost of such a
      program, assuming it is warranted, cannot be estimated at this time.




The
      recommended Phase II work is estimated to cost a further $13,860 (Fiji $22,700).
      At this point we have funds available to complete Phase I only. We will have
      to
      raise additional capital in order to carry out Phase II, work or any other
      work
      beyond Phase I. Particularly since we have a limited operating history, no
      reserves and no revenue, our ability to raise additional funds might be limited.
      If we are unable to raise the necessary funds, we would be required to suspend
      Siga’s operations and liquidate our company.




There
      are
      no permanent facilities, plants, buildings or equipment on the Valolo
      Claim.




**Competitive
      Factors**




The
      mining industry is highly fragmented. We are competing with many other
      exploration companies looking for gold. We are among the smallest exploration
      companies in existence and are an infinitely small participant in the mining
      business which is the cornerstone of the founding and early stage development
      of
      the mining industry. While we generally compete with other exploration
      companies, there is no competition for the exploration or removal of minerals
      from our claims. Readily available markets exist for the sale of gold.
      Therefore, we will likely be able to sell any gold that we are able to recover,
      in the event commercial quantities are discovered on the Valolo Claims. There
      is
      no ore body on the Valolo Claims.




**Government
      Regulation**




Exploration
      activities are subject to various national, state, foreign and local laws and
      regulations in Fiji, which govern prospecting, development, mining, production,
      exports, taxes, labor standards, occupational health, waste disposal, protection
      of the environment, mine safety, hazardous substances and other matters. We
      believe that we are in compliance in all material respects with applicable
      mining, health, safety and environmental statutes and the regulations passed
      thereunder in Fiji.




**Environmental
      Regulation**




Our
      exploration activities are subject to various federal, state and local laws
      and
      regulations governing protection of the environment. These laws are continually
      changing and, as a general matter, are becoming more restrictive. Our policy
      is
      to conduct business in a way that safeguards public health and the environment.
      We believe that our exploration activities are conducted in material compliance
      with applicable laws and regulations. Changes to current local, state or federal
      laws and regulations in the jurisdictions where we operate could require
      additional capital expenditures and increased operating and/or reclamation
      costs. Although we are unable to predict what additional legislation, if any,
      might be proposed or enacted, additional regulatory requirements could render
      certain exploration activities uneconomic.






-12-






**Employees**




Initially,
      we intend to use the services of subcontractors for labor exploration work
      on
      our claim. At present, we have no employees as such although each of our
      officers and directors devotes a portion of his time to the affairs of Siga.
      None of our officers and directors has an employment agreement with us. We
      presently do not have pension, health, annuity, insurance, profit sharing or
      similar benefit plans; however, we may adopt such plans in the future. There
      are
      presently no personal benefits available to any employee.




As
      indicated above we will hire subcontractors on an as needed basis. We have
      not
      entered into negotiations or contracts with any of potential subcontractors.
      We
      do not intend to initiate negotiations or hire anyone until we are nearing
      the
      time of commencement of our planned exploration activities.




**LIQUIDITY
      AND CAPITAL RESOURCES**




We
      have
      not generated any revenues and no revenues are anticipated until we begin
      removing and selling minerals, if ever. Accordingly, we must raise cash from
      sources other than the sale of minerals found on the Valolo Claim. That cash
      must be raised from other sources. Our only other source for cash at this time
      is investment by others in Siga. We must raise cash to implement our planned
      exploration program and stay in business.




Since
      our
      business activity is related solely to the exploration and evaluation of the
      Valolo Claim, it is the opinion of management that the most meaningful financial
      information relates primarily to current liquidity and solvency. As at October
      31, 2007, we had working capital deficiency of $5,484. As can be determined
      from
      the following table Siga will require cash injections of $25,509 to enable
      Siga
      to meet its anticipated expenses over the next twelve months. The directors
      and
      officers have committed to advance up to a further $25,000 cash in order that
      we
      are adequately funded for the forthcoming twelve months.





Our
      future financial success will be dependent on the success of the exploration
      work on the Valolo Claim. Such exploration may take years to complete and future
      cash flows, if any, are impossible to predict at this time. The realization
      value from any mineralization, if any, which may be discovered by us is largely
      dependent on factors beyond our control such as the market value of metals
      produced, mining regulations in the Republic of Fiji and foreign exchange
      rates.





Our
      capital commitments for the next twelve months consist of expenses associated
      with the completion of Phase I of our exploration program, estimated at $31,042.
      Including Phase I work, we will have to incur the following estimated expenses
      over the next twelve months:






-13-





Expenses
            Amount
            DescriptionAccounting
                & Audit
            $
                4,250
            Fees
                to
                the internal accountant for preparing the quarter and annual working
                papers for the financial statements to be reviewed and examined by
                the
                independent accountants.Audit
            4,000
            Review
                of the quarterly financial statements and examination of the annual
                financial statements and rendering an opinion thereon.Bank
                charges
            180
            Estimated
                bank
                chargesConsulting
                and legal fees
            5,000
            Estimated
                legal
                expenses over the next 12 months..Exploration
            10,900
            Completion
                of
                Phase IFiling
                fees
            175
            Annual
                fee to the Secretary of State for NevadaOffice
            500
            Photocopying,
                delivery and fax expensesTransfer
                agent’s fees
            1,500
            Preparation
                of
                share certificates and other documents periodically required by the
                CompanyEstimated
                expenses
            26,505Accounts
                Payable-
                October 31, 2007
            4,537
            Represents
                the
                amounts owed to third party creditors.Total
                estimated cash needed
            31,042Less:
                cash on hand -October
                31, 2007
            (5,533)Additional
                cash required
            $25,509





As
      indicated above, we intend to offset the cash shortfall of $25,509 by future
      advances of cash of approximately $25,000 to the Company committed to by our
      directors and officers.




We
      have
      no plant or significant equipment to sell, nor are we going to buy any plant
      or
      significant equipment during the next twelve months. We will not buy any
      equipment until we have located a body of ore and we have determined it is
      economical to extract the ore from our claim.




We
      may
      attempt to interest other companies to undertake exploration work on the Valolo
      Claim through joint venture arrangement or even the sale of part of the Valolo
      Claim. Neither of these avenues has been pursued as of the date of this
      prospectus.




Our
      engineer has recommended a two-phase exploration program for the Valolo Claim.
      However, even if Phase I results suggest Phase II work is warranted, we do
      not
      presently have the requisite funds and so will be unable to complete anything
      beyond Phase I of the recommended exploration program until we raise more money
      or find a joint venture partner to complete the exploration work. If we cannot
      find a joint venture partner and do not raise more money, we will be unable
      to
      complete any work beyond Phase I of the exploration program recommended by
      our
      engineer. If we are unable to finance additional exploration activities, we
      have
      no other plans. We do not intend to hire any employees at this time. All of
      the
      work on the Valolo Claim will be conducted by unaffiliated independent
      contractors that we will hire. The independent contractors will be responsible
      for surveying, exploration, and excavation. We may engage a geologist to assist
      in evaluating the information derived from the exploration and excavation
      including advising us on the economic feasibility of removing any mineralized
      material we may discover.




**Limited
      Operating History; Need for Additional Capital**




There
      is
      no historical financial information about us upon which to base an evaluation
      of
      our performance as an exploration corporation. We are a pre-exploration stage
      company and have not generated any revenues from our exploration activities.
      Further, we have not generated any revenues since our formation on January
      18,
      2007. We cannot guarantee we will be successful in our exploration activities.
      Our business is subject to risks inherent in the establishment of a new business
      enterprise, including limited capital resources, possible delays in the
      exploration of our properties, and possible cost overruns due to price and
      cost
      increases in services.




Should
      we
      be successful in our initial exploration activities, in order to become
      profitable and competitive, we anticipate the need to invest considerable time
      and capital in the exploration of our property before we could start production
      of any minerals we may find. We must obtain additional equity or debt financing
      to provide the capital required to fully implement our phased exploration
      program **.** We
      have
      no assurance that financing will be available to us on acceptable terms. If
      financing is not available on satisfactory terms, we may be unable to commence,
      continue, develop or expand our exploration activities. Even if available,
      equity financing could result in additional dilution to existing shareholders.






-14-




**Overview**




Our
      financial statements contained herein have been prepared on a going concern
      basis, which assumes that we will be able to realize our assets and discharge
      our obligations in the normal course of business. We incurred a net loss, for
      the period from the inception of our business on January 18, 2007 to October
      31,
      2007, of $44,334. We did not earn any revenues during the aforementioned
      period.




Our
      financial statements included in this prospectus have been prepared without
      any
      adjustments that would be necessary if we become unable to continue as a going
      concern and are therefore required to realize upon our assets and discharge
      our
      liabilities in other than the normal course of operations.




We
      are
      presently in the pre-exploration stage and there is no assurance that a
      commercially viable mineral deposit, a reserve, exits in the Valolo Claim until
      further exploration work is done and a comprehensive evaluation concludes
      economic and legal feasibility.




**Results
      of Operations - three months ended October 31, 2007.**




For
      the
      period from January 18, 2007 (date of inception) to October 31, 2007, we had
      a
      net loss of $44,334 and for the three months ended October 31, 2007 we had
      a net
      loss of $21,675. Our loss and the individual expenses incurred are more fully
      described in the attached Statement of Operations as at October 31,
      2007.




**Balance
      Sheet as at October 31, 2007**




Total
      cash and cash equivalents, as at October 31, 2007, was $5,533. Our working
      capital deficit as at October 31, 2007 was $5,484 when taking into consideration
      $6,480 owed to related parties.




Our
      working capital was derived from the completion of an initial seed capital
      offering to directors, which raised $750 and a second private placement on
      July
      31, 2007 raising a further $25,050. No revenue was generated during these
      periods.




Total
      shareholders’ equity as at October 31, 2007 was a deficiency of $5,484. Total
      shares outstanding as at October 31, 2007 was 1,251,000.




No
      shares
      have been issued subsequent to October 31, 2007.




**RISK
      FACTORS**




***An
      investment in our common stock involves an exceptionally high degree of risk
      and
      is extremely speculative. In addition to the other information regarding Siga
      contained in this Form 10Q-SB, you should consider many important factors in
      determining whether to purchase the shares being offered. The following risk
      factors reflect the potential and substantial material risks which could be
      involved if you decide to purchase shares.***




***We
      lack an operating history and have losses, which we expect to continue into
      the
      future. As a result, we may have to suspend or cease exploration activity or
      cease operations.***




While
      we
      were incorporated in 2007, we have not yet conducted any exploration activities.
      We have not generated any revenues. We have no exploration history upon which
      you can evaluate the likelihood of our future success or failure. Our net loss
      from inception to October 31, 2007, the date of our most recent audited
      financial statements is $44,334. Our ability to achieve profitability and
      positive cash flow in the future is dependent upon






-15-







*
            our
                ability to locate a profitable mineral property*
            our
                ability to locate an economic ore reserve*
            our
                ability to develop and profitably mine a mineral
                property*
            our
                ability to generate revenues*
            our
                ability to reduce exploration
                costs.




Based
      upon current plans, we expect to incur operating losses in future periods.
      This
      will happen because there are expenses associated with the research and
      exploration of our mineral property. We cannot guarantee we will be successful
      in generating revenues in the future. Failure to generate revenues may cause
      us
      to go out of business.




***We
      have no known ore reserves and we cannot guarantee we will find any gold and/or
      silver***  ***mineralization
      or, if we find gold and/or silver mineralization, that it may be economically
      extracted. If we fail to find any gold and/or silver mineralization or if we
      are
      unable to find gold and/or silver mineralization that may be economically
      extracted, we will have to cease operations.***




We
      have
      no known ore reserves. Even if we find gold and/or silver ****** mineralization ****** we
      cannot
      guarantee that any gold and/or silver mineralization ****** will
      be
      of sufficient quantity so as to warrant recovery. Additionally, even if we
      find
      gold and/or silver mineralization ****** in
      sufficient quantity to warrant recovery, we cannot guarantee that the ore will
      be recoverable. Finally, even if any gold and/or silver ****** mineralization ****** is
      recoverable, we cannot guarantee that this can be done at a profit. Failure
      to
      locate gold deposits in economically recoverable quantities will cause us to
      cease operations.




***Because
      the probability of an individual prospect ever having reserves is extremely
      remote, in all probability our property does not contain any reserves, and
      any
      funds spent on exploration will be lost.***




Because
      the probability of an individual prospect ever having reserves is extremely
      remote, in all probability our sole property, the Valolo Claim, does not contain
      any reserves, and any funds spent on exploration will be lost. If we cannot
      raise further funds as a result, we may have to suspend or cease operations
      entirely which would result in the loss of your investment.




***Because
      our officers and directors do not have technical training or experience in
      starting, and operating an exploration company nor in managing a public company,
      we will have to hire qualified personnel to fulfill these functions. If we
      lack
      funds to retain such personnel, or cannot locate qualified personnel, we may
      have to suspend or cease exploration activity or cease operations which will
      result in the loss of your investment.***




None
      of
      our management team has experience exploring for minerals, starting and
      operating a mineral exploration company, nor do they have training in these
      areas. As a result their decisions and choices may not take into account
      standard managerial approaches mineral exploration companies commonly use.
      Consequently our ultimate financial success could suffer irreparable harm due
      to
      certain of management's lack of experience. Additionally, our officers and
      directors have no direct training or experience in managing and fulfilling
      the
      regulatory reporting obligations of a ‘public company’ like Siga. We will have
      to hire professionals to undertake these filing requirements for Siga and this
      will increase the overall cost of operations. As a result we may have to suspend
      or cease exploration activity, or cease operations altogether, which will result
      in the loss of your investment.




***If
      we don't raise enough capital for exploration, we will have to delay exploration
      or go out of business, which will result in the loss of your investment.***




We
      estimate that, with funding committed by our management combined with our cash
      on hand, we have sufficient cash to continue operations for twelve months
      provided we only carry out Phase I of our planned exploration activity. We
      are
      in the pre-exploration stage. We need to raise additional capital to undertake
      even Phase II of our planned exploration activity. You may be investing in
      a
      company that will not have the funds necessary to conduct any meaningful
      exploration activity due to our inability to raise additional capital. If that
      occurs we will have to delay exploration or cease our exploration activity
      and
      go out of business which will result in the loss of your investment.






-16-




***Since
      we are small and have limited capital, we must limit our exploration and as
      a
      result may not find an ore body*** **.**  ***Without
      an ore body, we cannot generate revenues and you will lose your investment.***




The
      possibility of development of and production from our exploration property
      depends upon the results of exploration programs and/or feasibility studies
      and
      the recommendations of duly qualified professional engineers and geologists.
      We
      are small company and do not have much capital. We must limit our exploration
      activity unless and until we raise additional capital. Any decision to expand
      our operations on our exploration property will involve the consideration and
      evaluation of several significant factors beyond our control. These factors
      include, but are not limited to:




●
            Market
                prices for the minerals to be produced;●
            Costs
                of bringing the property into production including exploration preparation
                of production feasibility studies and construction of production
                facilities;●
            Political
                climate and/or governmental regulations and controls;●
            Ongoing
                costs of production;●
            Availability
                and cost of financing; and●
            Environmental
                compliance regulations and
                restraints.




These
      types of programs require substantial capital. Because we may have to limit
      our
      exploration, we may not find an ore body, even though our property may contain
      mineralized material. Without an ore body, we cannot generate revenues and
      you
      will lose your investment.




***Because
      our officers and directors have other outside business activities and may not
      be
      in a position to devote a majority of their time to our exploration activity,
      our exploration activity may be sporadic which may result in periodic
      interruptions or suspensions of exploration*** .




Our
      President will be devoting only 15% of his time, approximately 24 hours per
      month, to our business. Our Chief Financial Officer and Secretary-Treasurer
      will
      be devoting only approximately 10% of his time, or 16 hours per month to our
      operations. As a consequence of the limited devotion of time to the affairs
      of
      the Company expected from management, our business may suffer. For example,
      because our officers and directors have other outside business activities and
      may not be in a position to devote a majority of their time to our exploration
      activity, our exploration activity may be sporadic or may be periodically
      interrupted or suspended. Such suspensions or interruptions may cause us to
      cease operations altogether and go out of business.




***We
      may not have access to all of the supplies and materials we need to begin
      exploration which could cause us to delay or suspend exploration activity.***




We
      have
      made no attempt to locate or negotiate with any suppliers of products, equipment
      or materials. We will attempt to locate products, equipment and materials as
      and
      when we begin to undertake exploration activity, expected later this year.
      Competition and unforeseen limited sources of supplies in the industry could
      result in occasional spot shortages of equipment and/or supplies we need to
      conduct our planned exploration work. If we cannot find the products and
      equipment we need, we will have to suspend our exploration plans until we do
      find the products and equipment we need.







-17-








***No
      matter how much money is spent on the Valolo Claim, the risk is that we might
      never identify a commercially viable ore reserve.***





Over
      the
      coming years, we might expend considerable capital on exploration of the Valolo
      Claim without finding anything of value. It is very likely the Valolo Claim
      does
      not contain any reserves so any funds spent on exploration will probably be
      lost. No matter how much money is spent on the Valolo Claim, we might never
      be
      able to find a commercially viable ore reserve.




***Even
      if our property were found to contain a deposit, since we have not put a mineral
      deposit into production before, we will have to acquire outside expertise.
      If we
      are unable to acquire such expertise we may be unable to put our property into
      production and you may lose your investment.***




We
      have
      no experience in placing mineral deposit properties into production, and our
      ability to do so will be dependent upon using the services of appropriately
      experienced personnel or entering into agreements with other major resource
      companies that can provide such expertise. There can be no assurance that we
      will have available to us the necessary expertise when and if we place a mineral
      deposit into production. ******




***Mineral
      exploration and development activities are inherently risky and we may be
      exposed to environmental liabilities. If such an event were to occur it may
      result in a loss of your investment.***




The
      business of mineral exploration and extraction involves a high degree of risk.
      Few properties that are explored are ultimately developed into production.
      Most
      exploration projects do not result in the discovery of commercially mineable
      deposits of ore.  The Valolo Claim, our sole property, does not have a
      known body of commercial ore. Should our mineral claim be found to have
      commercial quantities of ore, we would be subject to additional risks respecting
      any development and production activities. Unusual or unexpected formations,
      formation pressures, fires, power outages, labour disruptions, flooding,
      explosions, cave-ins, landslides and the inability to obtain suitable or
      adequate machinery, equipment or labour are other risks involved in extraction
      operations and the conduct of exploration programs. We do not carry liability
      insurance with respect to our mineral exploration operations and we may become
      subject to liability for damage to life and property, environmental damage,
      cave-ins or hazards. There are also physical risks to the exploration personnel
      working in the rugged terrain of our claim. Previous mining exploration
      activities may have caused environmental damage to the Valolo Claim. It may
      be
      difficult or impossible to assess the extent to which such damage was caused
      by
      us or by the activities of previous operators, in which case, any indemnities
      and exemptions from liability may be ineffective.




***Even
      with positive results during exploration, the Valolo Claim might never be put
      into commercial production due to inadequate tonnage, low metal prices or high
      extraction costs.***





We
      might
      be successful, during future exploration programs, in identifying a source
      of
      minerals of good grade but not in the quantity, the tonnage, required to make
      commercial production feasible. If the cost of extracting any minerals that
      might be found on the Valolo Claim is in excess of the selling price of such
      minerals, we would not be able to develop the claim. Accordingly even if ore
      reserves were found on the Valolo Claim, without sufficient tonnage we would
      still not be able to economically extract the minerals from the claim in which
      case we would have to abandon the Valolo Claim and seek another mineral property
      to develop, or cease operations altogether.








-18-





**Risks
      Associated with our Shares:**




***Our
      officers and directors own a substantial amount of our common stock and will
      have substantial influence over our operations.***




Our
      directors and officers currently own 750,000 shares of common stock representing
      approximately 60% of our outstanding shares. Such directors and officers
      registered for resale 75,000 of their shares. Assuming that such directors
      and
      officers sell their 75,000 shares, they will still own 675,000 shares of common
      stock representing approximately 54% of our outstanding shares. As a result,
      they will have substantial influence over our operations and can effect certain
      corporate transaction without further shareholder approval. This concentration
      of ownership may also have the effect of delaying or preventing a change in
      control.




***Without
      a public market there is no liquidity for our shares and our shareholders may
      never be able to sell their shares which would result in a total loss of their
      investment.*** ****




Our
      common shares are not listed on any exchange or quotation system. There is
      no
      market for our shares. Consequently, our shareholders will not be able to sell
      their shares in an organized market place unless they sell their shares
      privately. If this happens, our shareholders might not receive a price per
      share
      which they might have received had there been a public market for our shares.





From
      the
      date of this Form 10Q-SB, we estimate that it will take us between twelve to
      eighteen weeks to be approved for a quotation on the OTCBB. Until that time,
      there will be no liquidity for the shares of our shareholders.





***Even
      if a market*** **** ***develops
      for our shares our shares may be thinly traded, with wide share price
      fluctuations, low share prices and minimal liquidity.***





If
      a
      market for our shares develops, the share price may be volatile with wide
      fluctuations in response to several factors, including:





●
            Potential
                investors’ anticipated feeling regarding our results of
                operations;●
            Increased
                competition and/or variations in mineral prices;●
            Our
                ability or inability to generate future revenues; and●
            Market
                perception of the future of the mineral exploration
                industry.





In
      addition, if our shares are quoted on the OTCBB, our share price may be impacted
      by factors that are unrelated or disproportionate to our operating performance.
      Our share price might be affected by general economic, political and market
      conditions, such as recessions, interest rates or international currency
      fluctuations. In addition, even if our stock is approved for quotation by a
      market maker through the OTCBB, stocks traded over this quotation system are
      usually thinly traded, highly volatile and not followed by analysts. These
      factors, which are not under our control, may have a material effect on our
      share price.





***We
      anticipate the need to sell additional treasury shares in the future meaning
      that there will be a dilution to our existing shareholders resulting in their
      percentage ownership in the Company being reduced
      accordingly.***





We
      may
      seek additional funds through the sale of our common stock. This will result
      in
      a dilution effect to our shareholders whereby their percentage ownership
      interest in the Company is reduced. The magnitude of this dilution effect will
      be determined by the number of shares we will have to issue in the future to
      obtain the funds required.




***Since
      our securities are subject to penny stock rules, you may have difficulty
      reselling your shares*** **.**




Our
      shares are "penny stocks" and are covered by Section 15(g) of the Securities
      Exchange Act of 1934 which imposes additional sales practice requirements on
      broker/dealers who sell the Company's securities including the delivery of
      a
      standardized disclosure document; disclosure and confirmation of quotation
      prices; disclosure of compensation the broker/dealer receives; and, furnishing
      monthly account statements. For sales of our securities, the broker/dealer
      must
      make a special suitability determination and receive from its customer a written
      agreement prior to making a sale. The imposition of the foregoing additional
      sales practices could adversely affect a shareholder's ability to dispose of
      his
      stock.





-19-




**ITEM
      3.**  **CONTROLS
      AND PROCEDURES**





(a)  Evaluation
      of Disclosure Controls and Procedures





Our
      Chief
      Executive Officer and our Chief Financial Officer, after evaluating the
      effectiveness of Siga’s controls and procedures (as defined in the Securities
      Exchange Act of 1934 Rule 13a, 14(c) and 15d 14(c) as of the end of the period
      of the filing of this quarterly report on Form 10-QSB (the “Evaluation Date”),
      have concluded that as of the Evaluation Date, Siga’s disclosure and procedures
      were adequate and effective to ensure that material information relating to
      it
      would be made known to it by others, particularly during the period in which
      this quarterly report on Form 10-QSB was being prepared.





(b)  Changes
      in Internal Controls





There
      were no material changes in Siga’s internal controls or in other factors that
      could materially affect Siga’s disclosure controls and procedures subsequent to
      the Evaluation Date, nor any significant deficiencies or material weaknesses
      in
      such disclosure controls and procedures requiring corrective
      actions.





**PART
      11 - OTHER INFORMATION**





**ITEM
      1.**  **LEGAL
      PROCEEDINGS**





There
      are
      no legal proceedings to which Siga or is a party or to which the Valolo Gold
      Claim is subject, nor to the best of management’s knowledge are any material
      legal proceedings contemplated.





**ITEM
      2.**  **UNREGISTERED
      SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**





There
      has
      been no change in our securities since the fiscal year ended July 31,
      2007.





**ITEM
      3.**  **DEFAULTS
      UPON SENIOR SECURITIES**





None





**ITEM
      4.**  **SUBMISSION
      OF MATTERS TO A VOTE OF SECURITY HOLDERS**





There
      have been no matters brought forth to the securities holders to vote upon during
      this quarter.





**ITEM
      5.**  **OTHER
      INFORMATION**





None








-20-





**ITEM
      6.**  **EXHIBITS
      AND REPORTS ON FORM 8-K**





(a)
      (3) **Exhibits**





The
      following exhibits are included as part of this report by
      reference:





3.1
            
            Certificate
                of Incorporation (incorporated by reference from Siga’s Registration
                Statement on Form SB-2 filed on September 5, 2007, Registration No.
                333-145879)3.2
            
            Articles
                of Incorporation (incorporated by reference from Siga’s Registration
                Statement on Form SB-2 filed on September 5, 2007, Registration
                No.333-145879)3.3
            
            By-laws
                (incorporated by reference from Siga’s Registration Statement on Form SB-2
                filed on September 5, 2007, Registration No.
                333-145879)4
            
            Stock
                Specimen (incorporated by reference from Siga’s Registration Statement on
                Form SB-2 filed on September 5, 2007, Registration No.
                333-145879)10.1
            
            Transfer
                Agent and Registrar Agreement (incorporated by reference from Siga’s
                Registration Statement on Form SB-2 filed on September 5, 2007
                Registration No. 333-145879)











-21-








**SIGNATURES**




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





**SIGA
                RESOURCES, INC.**(Registrant)Date: 
                November 15, 2007
            Arun
                KumarChief
                Executive Officer, President and DirectorDate:
                November 15, 2007
            Rohit
                SinghChief
                Financial Officer, Chief Accounting
              Officer,
                Secretary and Director







-22-