UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


WASHINGTON,
DC 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, 2008





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


SECURITIES
EXCHANGE ACT OF 1934





For the
transition period from ______ to ______





Commission
file number 000-52481





SKYVIEW
DEVELOPMENT CORP.


(Exact
name of Registrant as Specified in its Charter)





Delaware
            35-2287661(State
      or other jurisdiction
            (I.R.S.
      Employerof
      incorporation or organization)
            Identification
      No.)68
      Skyview TerraceClifton,
      New Jersey
            07011(Address
      of principal
            (Zip
      Code)executive
      offices)





(973)
523-0835


(Registrant’s
Telephone Number, Including Area Code)





Not
applicable


(Former
Name, Former Address and Former Fiscal Year, if Changed Since Last
Report)




Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.


Yes   x                     No  o





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.  See the definition of “large accelerated filer”,
“accelerated filer” and “smaller reporting company” in Rule 12b-2 of the
Exchange Act. (Check one):





Large
      accelerated filer
            o
            Accelerated
      filer
            oNon-accelerated
      filer
            o
            Smaller
      reporting company
            x





Indicate
by check mark whether the registrant is a shell company (as defined by Rule
12b-2 of the Exchange Act).


Yes   x                     No  o





State the
number of shares outstanding of each of the Issuer’s classes of common stock, as
of the latest practicable date: Common, $.00001 par value per share: 5,000,000
outstanding as of August 1, 2008.










PART
I - FINANCIAL INFORMATION





SKYVIEW
DEVELOPMENT CORP.





Index to
Financial Information


Period
Ended June 30, 2008








Item
            PageItem
      1 - Financial Statements:Balance
      Sheets
            4Statements
      of Operations
            5Statements
      of Shareholders’ Deficiency
            6Statements
      of Cash Flows
            7Notes
      to Financial Statements
            8Item
      2 – Management’s Discussion and Analysis of Financial Condition and
      Results of Operations
            10Item
      3 – Quantitative and Qualitative Disclosures About Market
    Risk
            11Item
      4T – Controls and Procedures
            11







2




PART 1




FINANCIAL
INFORMATION




ITEM 1: FINANCIAL
STATEMENTS




The financial statements of Skyview
Development Corp. (the “Company”), included herein were prepared, without audit,
pursuant to rules and regulations of the Securities and Exchange Commission.
Because certain information and notes normally included in financial statements
prepared in accordance with accounting principles generally accepted in the
United States of America were condensed or omitted pursuant to such rules and
regulations, these financial statements should be read in conjunction with the
financial statements and notes thereto included in the audited financial
statements of the Company as included in the Company’s Form 10-KSB for the
period ended December 31, 2007.


3


SKYVIEW DEVELOPMENT
CORP.


(A DEVELOPMENT STAGE
COMPANY)




BALANCE SHEETS











ASSETSJune
      30,
            
            
            December
      31,2008
            
            
            2007(Unaudited)Current
      Assets:Cash
      and Equivalents
            
            $
            720
            
            
            $
            240Total
      Assets
            
            $
            720
            
            
            $
            240LIABILITIES
      AND SHAREHOLDERS' EQUITY (DEFICIENCY)Current
      Liabilities:Accrued
      Expense
            
            $
            6,000
            
            
            $
            8,500Due
      to officer/shareholder
            
            
            10,754
            
            
            
            6,754Total
      Liabilities
            
            
            16,754
            
            
            
            15,254Shareholders'
      Equity (Deficiency):Preferred
      Stock, $0.00001 par value,2,
      500, 000 shares authorizedNone
      issued and outstanding
            
            
            -
            
            
            
            -Common
      Stock, $0.00001 par value,100,
      000, 000 shares authorized5,000,000
      issued and outstanding
            
            
            50
            
            
            
            50Deficit
      Accumulated during the Development Stage
            
            
            (16,084
            )
            
            
            (15,064
            )Total
      Shareholders' Equity (Deficiency)
            
            
            (16,034
            )
            
            
            (15,014
            )Total
      Liabilities and Shareholders' Equity (Deficiency)
            
            $
            720
            
            
            $
            240


SEE
ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
 4


SKYVIEW DEVELOPMENT
CORP.


(A DEVELOPMENT STAGE
COMPANY)




STATEMENTS OF
OPERATIONS




(UNAUDITED)




FOR THE PERIOD JANUARY 11, 2007
(INCEPTION) THROUGH JUNE 30, 2008


AND FOR THE THREE AND SIX MONTHS
      ENDED JUNE 30, 2008 AND 2007








January
      11,Three
            
            
            Three
            
            
            Six
            
            
            Six
            
            
            2007Months
            
            
            Months
            
            
            Months
            
            
            Months
            
            
            (Inception)Ended
            
            
            Ended
            
            
            Ended
            
            
            Ended
            
            
            ToJune
      30,
            
            
            June
      30,
            
            
            June
      30,
            
            
            June
      30,
            
            
            June
      30,2008
            
            
            2007
            
            
            2008
            
            
            2007
            
            
            2008REVENUE:
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -EXPENSES:Professional
      fees
            
            
            500
            
            
            
            500
            
            
            
            1,000
            
            
            
            4,500
            
            
            
            14,500Organizations
      Expenses
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            339
            
            
            
            339Outside
      Services
            
            
            -
            
            
            
            -
            
            
            
            -
            
            
            
            833
            
            
            
            1,225Bank
      Service Charge
            
            
            -
            
            
            
            -
            
            
            
            20
            
            
            
            -
            
            
            
            20Net
      Loss
            
            $
            (500
            )
            
            $
            (500
            )
            
            $
            (1,020
            )
            
            $
            (5,672
            )
            
            $
            (16,084
            )Basic
      and dilutednet
      loss per share
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -Weighted
      average sharesused
      in calculatingbasic
      and dilutednet
      loss per share
            
            
            5,000,000
            
            
            
            5,000,000
            
            
            
            5,000,000
            
            
            
            5,000,000
            
            
            
            5,000,000





SEE
ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
 5


SKYVIEW DEVELOPMENT
CORP.


(A DEVELOPMENT STAGE
COMPANY)




STATEMENTS OF SHAREHOLDERS'
DEFICIENCY




(UNAUDITED)




FOR THE PERIOD JANUARY 11, 2007
(INCEPTION) THROUGH JUNE 30, 2008







Number
      of
            
            
            Common
            
            
            AccumulatedShares
            
            
            Stock
            
            
            Deficit
            
            
            TotalBalance
      at January 11, 2007 (Inception)
            
            
            -
            
            
            $
            -
            
            
            $
            -
            
            
            $
            -Shares
      Issued for Cash
            
            
            5,000,000
            
            
            
            50
            
            
            
            -
            
            
            
            50Net
      Loss for the period
            
            
            -
            
            
            
            -
            
            
            
            (15,064
            )
            
            
            (15,064
            )Balance
      at December 31, 2007
            
            
            5,000,000
            
            
            $
            50
            
            
            $
            (15,064
            )
            
            $
            (15,014
            )Net
      Loss for the period
            
            
            -
            
            
            
            -
            
            
            
            (1,020
            )
            
            
            (1,020
            )Balance
      at June 30, 2008
            
            
            5,000,000
            
            
            $
            50
            
            
            $
            (16,084
            )
            
            $
            (16,034
            )


SEE
ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
 6


SKYVIEW DEVELOPMENT
CORP.


(A DEVELOPMENT STAGE
COMPANY)




STATEMENTS OF CASH
FLOWS




(UNAUDITED)




FOR THE PERIOD JANUARY 11, 2007
(INCEPTION) THROUGH JUNE 30, 2008


AND FOR THE SIX MONTHS ENDED JUNE
      30, 2008 AND 2007







January
      11,Six
            
            
            Six
            
            
            2007Months
            
            
            Months
            
            
            (Inception)Ended
            
            
            Ended
            
            
            ToJune
      30,
            
            
            June
      30,
            
            
            June
      30,2008
            
            
            2007
            
            
            2008CASH
      FLOWS FROM OPERATING ACTIVITIES:Net
      loss
            
            $
            (1,020
            )
            
            $
            (5,672
            )
            
            $
            (16,084
            )Increase(Decrease)
      in accrued liabilities
            
            
            (2,500
            )
            
            
            1,000
            
            
            
            6,000Net
      cash used in operations
            
            
            (3,520
            )
            
            
            (4,672
            )
            
            
            (10,084
            )Cash
      Flows from Financing Activities:Officer
      /shareholder loans
            
            
            4,000
            
            
            
            4,754
            
            
            
            10,754Proceeds
      from issuance of common stock
            
            
            -
            
            
            
            50
            
            
            
            50Net
      cash provided from financing activities
            
            
            4,000
            
            
            
            4,804
            
            
            
            10,804Net
      increase in cash
            
            
            480
            
            
            
            132
            
            
            
            720Cash-Beginning
      of period
            
            
            240
            
            
            
            -
            
            
            
            -Cash-End
      of period
            
            $
            720
            
            
            $
            132
            
            
            $
            720Supplemental
      Disclosure of Cash Flow Information:Taxes
      paid
            
            $
            -
            
            
            $
            -
            
            
            $
            -Interest
      paid
            
            $
            -
            
            
            $
            -
            
            
            $
            -







SEE
ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
 7


SKYVIEW DEVELOPMENT
CORP.


(A DEVELOPMENT STAGE
COMPANY)




NOTES TO THE FINANCIAL
STATEMENTS


JUNE 30, 2008
      (UNAUDITED)




NOTE 1 - ACCOUNTING POLICIES AND
OPERATIONS




ORGANIZATION




Skyview Development Corp. (the
"Company"), a development stage company, was incorporated in Delaware on January
11, 2007. At June 30, 2008, the Company had not yet commenced any formal
business operations and all activity to date related to the Company formation,
capital stock issuance, professional fees with regard to a proposed Securities
and Exchange Commission filing and identification of businesses. The Company's
fiscal year ends on December 31st.




CASH AND CASH
EQUIVALENTS




The Company considers all highly liquid
debt instruments with original maturities of three months or less to be cash
equivalents.




EARNINGS PER SHARE




The Company computes earnings per share
in accordance with Statement of Accounting Standards No. 128, "Earnings per
Share ("SFAS No. 128"). Under the provisions of SFAS No. 128, basic earnings per
share is computed by dividing the net income (loss) for the period by the
weighted average number of common shares outstanding during the period. Diluted
earnings per share is computed by dividing the net income (loss) for the period
by the weighted average number of common and potentially dilutive common shares
outstanding during the period. There were no potentially dilutive common shares
outstanding during the period.




USE OF ESTIMATES




The preparation of financial statements
in conformity with accounting principles generally accepted in the United States
of America requires management to make estimates and assumptions that affect
certain reported amounts and disclosures. Accordingly, actual results could
differ from those estimates.




INCOME TAXES




The Company accounts for income taxes in
accordance with Statement of Financial Accounting Standards No. 109, "Accounting
for Income Taxes." Under the asset and liability method of Statement 109,
deferred tax assets and liabilities are recognized for the estimated future tax
consequences attributable to differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax
bases. Deferred tax assets and liabilities are measured using enacted tax rates
in effect for the year in which those temporary differences are expected to be
recovered or settled.





INTERIM FINANCIAL
INFORMATION





The interim financial statements of
Skyview Development Corp. are unaudited.  However, in the opinion of
management, the interim data includes all adjustments, consisting of only normal
recurring adjustments, necessary for a fair presentation of the results for the
interim period.  The results of operations for the three and six month
period ended June 30, 2008 are not necessarily indicative of the operating
results for the entire year.




RECENT
ACCOUNTING PRONOUNCEMENTS




The
Company does not expect the adoption of recent accounting pronouncements to have
a material impact on its financial condition or results of
operations.


8


SKYVIEW DEVELOPMENT
CORP.


(A DEVELOPMENT STAGE
COMPANY)




NOTES TO THE FINANCIAL
STATEMENTS


JUNE 30, 2008
      (UNAUDITED)




RECENTLY
ADOPTED ACCOUNTING PRONOUNCEMENTS




In
September 2006, the FASB issued SFAS No. 157, "Fair Value Measurements" ("SFAS
No. 157"). SFAS No. 157 defines fair value, establishes a framework and gives
guidance regarding the methods used for measuring fair value, and expands
disclosures about fair value measurements. In February 2008, the FASB issued
FASB Staff Position No. 157-1, "Application of FASB Statement No. 157 to FASB
Statement No. 13 and Other Accounting Pronouncements That Address Fair Value
Measurements for Purposes of Lease Classification or Measurement under Statement
13" ("FSP 157-1") and FASB Staff Position No. 157-2, "Effective Date of FASB
Statement No. 157" ("FSP No. 157-2"). FSP No. 157-1 amends SFAS No. 157 to
remove certain leasing transactions from its scope. FSP 157-2 delays the
effective date of SFAS 157 for all non-financial assets and non-financial
liabilities, except for items that are recognized or disclosed at fair value in
the financial statements on a recurring basis (at least annually), until fiscal
years beginning after November 15, 2008. SFAS No. 157 is effective for financial
statements issued for fiscal years beginning after November 15, 2007, and
interim periods within those fiscal years. The adoption of SFAS 157 did not have
any impact on the Company’s results of
operations or financial position





In
February 2007, the FASB issued SFAS No. 159, “The Fair Value
Option for Financial Assets and Financial Liabilities — Including an
Amendment of FASB Statement No. 115,” (“SFAS No. 159”) which is
effective for fiscal years beginning after November 15, 2007. SFAS No. 159 is an
elective standard which permits an entity to choose to measure many financial
instruments and certain other items at fair value at specified election dates.
Subsequent unrealized gains and losses on items for which the fair value option
has been elected will be reported in earnings. The adoption of SFAS 159 had no
impact on the Company’s results of
operations or financial position




GOING
CONCERN




The
accompanying financial statements have been prepared assuming that the Company
will continue as a going concern which contemplates the realization of assets
and the satisfaction of liabilities in the normal course of business. The assets
and the satisfaction of liabilities in the normal course of business. The
amounts of assets and liabilities in the financial statements do not purport to
represent realizable or settlement values. However, the Company has incurred an
operating loss. Such loss may impair its ability to obtain additional
financing.





This
factor raises substantial doubt about the Company's ability to continue as a
going concern. The financial statements do not include any adjustments that
might result from the outcome of this uncertainty. The Company has met its
historical working capital requirements from sale of common shares. Owners of
the shares, in order not to burden the Company, have agreed to provide funding
to the Company to pay its annual audit fees and filing costs as long as the
board of directors deems it necessary. However, there can be no assurance that
such financial support shall be ongoing or available on terms or conditions
acceptable to the Company.




NOTE 2 -
SHAREHOLDERS' EQUITY




On
January 11, 2007, the Company issued 5,000,000 shares of common stock, par value
$0.00001 per share, to its initial shareholders in exchange for $50 in
cash.




NOTE 3 -
RELATED PARTY TRANSACTIONS




From
January 11, 2007 through June 30, 2008 a shareholder/officer has provided
funding to pay for the initial operating expenses of the Company.




NOTE 4 -
DUE TO SHAREHOLDER




Amounts
due to shareholder are non-interest bearing and have no definite terms of
repayment.






9


Item 2.  
Management’s Discussion and
Analysis or Plan of Operation.





The
following should be read in conjunction with our financial statements and the
related notes thereto contained elsewhere in this Form 10-Q.





Forward-Looking
Statements





This
discussion contains forward-looking statements that involve risks and
uncertainties. All statements regarding future events, our future financial
performance and operating results, our business strategy and our financing plans
are forward-looking statements. In many cases, you can identify forward-looking
statements by terminology, such as “may”, “should”, “expects”, “intends”,
“plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or
“continue” or the negative of such terms and other comparable terminology. These
statements are only predictions. Known and unknown risks, uncertainties and
other factors could cause our actual results to differ materially from those
projected in any forward-looking statements.  We do not intend to
update these forward-looking statements.





Plan
of Operation





Skyview Development Corp. (“we”, “us”, “our”or the “Company”)wasorganized as avehicle to investigate and, if such
investigation warrants, acquire a target company or business seeking the
perceived advantages of being a publicly held corporation.  Our
principal business objective for the next 12 months and beyond such time will be
toachieve long-term growth potential
through a combination with a business rather than immediate, short-term
earnings.  We will not restrict our potential candidate target
companies to any specific business, industry or geographical location and, thus,
mayacquire any type of
business.





During the next 12 months we anticipate
incurring costs related to: (i) filing of Exchange Act reports, and (ii) costs
relating to consummating an acquisition.  We believe we will be able
to meet these costs through use offunds in our treasury, through deferral
of fees by certain service providers and additional amounts, as necessary, to be
loaned to or invested in us by our stockholders, management or other
investors.  Our sole officer and director has agreed to provide
funding to the Company to pay its annual
audit fees and filing costs as long as the Board of Directors deems it
necessary. However, there can be no assurance that such financial support shall
be ongoing or available on terms or conditions acceptable to theCompany.





The Company may consider a business
which has recently commenced operations, is a developing company in need of
additional funds for expansion into new products or markets, is seeking to
develop a new product or service, or is an established business which may be experiencing financial
or operating difficulties and is in need of additional capital.  In
the alternative, a business combination may involve the acquisition of, or
merger with, a company which does not need substantial additional
capital, but which desires to establish a
public trading market for its shares, while avoiding, among other things, the
time delays, significant expense, and loss of voting control which may occur in
a public offering.





Our management anticipates that we will
likely be able to effect
only one business combination, due primarily to our limited financing, and the
dilution of interest for present and prospective stockholders, which is likely
to occur as a result of our management’s plan to offer a controlling
interest to a target business in order to
achieve a tax-free reorganization.





Because we currently do not have any
business operations, we have not had any revenues sinceJanuary 11, 2007(inception) toJune 30, 2008.  Total expenses for thethree and six
monthsended June 30, 2008
were $500 and $1,020 compared to $500 and $5,672 for the three and six months
ended June 30, 2007.   Total expenses from inception to June 30,
2008 were $16,084.  These expenses consisted
primarily of organizational, professional feesand outside services.  The
Company incurred a net loss of $500 and $1,020 for the three and six
months ended June 30, 2008 compared to $500 and $5,672 for the three and six
months ended June 30, 2007, and $16,084for the period fromJanuary 11, 2007(inception) toJune 30, 2008.   It is unlikely that
we will have any revenues unless we are able to effect a business combination,
of which there can be no assurance.   AtJune 30, 2008, we had total assets of $720, total liabilities of $16,754and a working capital deficit of $16,034.





10


Off-Balance Sheet
Arrangements





We are not currently a party to, or
otherwise involved with, any off-balance sheet arrangements that have or are
reasonably likely to have a current or future material effect on our financial
condition, changes in
financial condition, revenues or expenses, results of operations, liquidity,
capital expenditures or capital resources.








Item
3.    Quantitative and Qualitative
Disclosures About Market Risk.





Not
applicable.








Item
4T.   Controls and
Procedures.





The
Company’s Principal Executive Officer and Principal Financial Officer has
evaluated the Company’s disclosure controls and procedures as of the end of the
period covered by this report.  Based upon that evaluation, such officer
has concluded that, as of June 30, 2008, these disclosure controls and
procedures were effective to ensure that all information required
to  be disclosed by us in the reports that we file or submit under the
Exchange Act is: (i) recorded, processed, summarized and reported, within the
time periods specified in the Commission’s rule and forms; and (ii) accumulated
and communicated to our management, including our Principal Executive Officer
and Principal Financial Officer, as appropriate to allow timely decisions
regarding required disclosure.





There
have been no significant changes in our internal controls over financial
reporting that occurred during the fiscal quarter covered by this report that
have materially affected, or are reasonably likely to materially affect, our
internal control over financial reporting.


11


PART
II - OTHER INFORMATION





Item 1.   Legal
Proceedings.





There are
no material pending legal proceedings to which the Company is a party or to
which any of its property is subject.








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





None.








Item 3.   Defaults Upon Senior
Securities.





None.








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





None.








Item 5.   Other
Information.





None.








Item 6.  Exhibits.





31.1
            Certification
      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley
      Act of 2002 (Rules 13a-14 and 15d-14 of the Exchange
  Act)31.2
            Certification
      of Principal Financial Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002 (Rules 13a-14 and 15d-14 of the Exchange
      Act)32.1
            Certification
      pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C.
      1350)





12


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.







SKYVIEW
      DEVELOPMENT CORP.
              (Registrant)Dated:
            August 11,
      2008
            By:
            /s/ Donald R.
      McKelveyDonald
      R. McKelvey, President(Principal
      Executive Officer andPrincipal
      Accounting and FinancialOfficer)








13