| Nevada                                    | 333-134549                             | 83-0483725                                |
|-------------------------------------------|----------------------------------------|-------------------------------------------|
| (State                  of incorporation) | (Commission                  File No.) | (IRS                  Employer ID Number) |

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**US      URANIUM, INC.**

|                                                                                             |   | July                  31, |     | January                  31, |   |
|--------------------------------------------------------------------------------------------------|--------|---------------------------|----------|------------------------------|--------|
|                                                                                             |   | 2007                      |     | 2007                         |   |
|                                                                                             |   | (unaudited)               |     |                         |   |
|                                                                                             |   |                      |     |                         |   |
| ASSETS                                                                                           |   |
|                                                                                             |   |                      |     |                         |   |
| CURRENT                  ASSETS                                                                  |   |                      |     |                         |   |   |   |
|                       Cash in bank                                           |   | $                         | -        |                         | $      | 23,967 |   |
|                       Note receivable                                        |   |                      | 557,927  |                         |   | - |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| TOTAL                  CURRENT ASSETS                                                            |   |                      | 557,927  |                         |   | 23,967 |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| PROPERTY                  AND EQUIPMENT                                                          |   |                      | -        |                         |   | - |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| TOTAL                  ASSETS                                                                    |   | $                         | 557,927  |                         | $      | 23,967 |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| LIABILITIES                  AND STOCKHOLDERS' EQUITY                                            |
|                                                                                             |   |                      |     |                         |   |   |   |
| CURRENT                  LIABILITIES                                                             |   |                      |     |                         |   |   |   |
|                       Accounts payable                                       |   | $                         | 219,287  |                         | $      | - |   |
|                       Common stock subscribed                                |   |                      | -        |                         |   | - |   |
|                       Notes payable-related party                            |   |                      | -        |                         |   | - |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| TOTAL                  CURRENT LIABILITIES                                                       |   |                      | 219,287  |                         |   | - |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| LONG-TERM                  DEBT                                                                  |   |                      | -        |                         |   | - |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| TOTAL                  LIABILITIES                                                               |   |                      | 219,287  |                         |   | - |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| STOCKHOLDERS'                  EQUITY                                                            |   |                      |     |                         |   |   |   |
|                       Preferred stock: $0.001 par value;                     |   |                      |     |                         |   |   |   |
|                       10,000,000 shares authorized, none outstanding         |   |                      |     |                         |   |   |   |
|                       Common stock: $0.001 par value;                        |   |                      |     |                         |   |   |   |
|                       300,000,000 shares authorized, 56,193,002 and          |   |                      |     |                         |   |   |   |
|                       55,753,000 shares issued and outstanding, respectively |   |                      | 56,193   |                         |   | 55,753 |   |
|                       Additional paid in capital                             |   |                      | 646,207  |                         |   | 18,647 |   |
|                       Treasury stock                                         |   |                      | (31,000  | )                            |   | - |   |
|                       Accumulated deficit                                    |   |                      | (332,760 | )                            |   | (50,433 | ) |
|                                                                                             |   |                      |     |                         |   |   |   |
| TOTAL                  STOCKHOLDERS' EQUITY                                                      |   |                      | 338,640  |                         |   | 23,967 |   |
|                                                                                             |   |                      |     |                         |   |   |   |
| TOTAL                  LIABILITIES AND STOCKHOLDERS' EQUITY                                      |   | $                         | 557,927  |                         | $      | 23,967 |   |

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**US      URANIUM, INC.**

|                                                                 |   |                           |       |                           |   |                          |   |                          |       | From                  Inception |   |
|----------------------------------------------------------------------|--------|--------------------------------|------------|--------------------------------|--------|-------------------------------|--------|-------------------------------|------------|---------------------------------|--------|
|                                                                 |   | For                  the Three |       | For                  the Three |   | For                  the Six  |   | For                  the Six  |       | On                  April 19,   |   |
|                                                                 |   | Months                  Ended  |       | Months                  Ended  |   | Months                  Ended |   | Months                  Ended |       | 2004                  through   |   |
|                                                                 |   | July                  31,      |       | July                  31,      |   | July                  31,     |   | July                  31,     |       | July                  31,       |   |
|                                                                 |   | 2007                           |       | 2006                           |   | 2007                          |   | 2006                          |       | 2007                            |   |
|                                                                 |   |                           |       |                           |   |                          |   |                          |       |                            |   |
| REVENUES                                                             |   | $                              | -          |                           | $      | -                             |   | $                             | -          |                            | $      | - |   | $ | - |   |
| COST                  OF SALES                                       |   |                           | -          |                           |   | -                             |   |                          | -          |                            |   | - |   |   | - |   |
| GROSS                  MARGIN                                        |   |                           | -          |                           |   | -                             |   |                          | -          |                            |   | - |   |   | - |   |
|                                                                 |   |                           |       |                           |   |                          |   |                          |       |                            |   |   |   |   |   |   |
| OPERATING                  EXPENSES                                  |   |                           |       |                           |   |                          |   |                          |       |                            |   |   |   |   |   |   |
|                       Mineral property expenses  |   |                           | -          |                           |   | -                             |   |                          | 1,556      |                            |   | - |   |   | 27,206 |   |
|                       General and administrative |   |                           | 258,287    |                           |   | 1,956                         |   |                          | 280,771    |                            |   | 3,629 |   |   | 305,554 |   |
|                                                                 |   |                           |       |                           |   |                          |   |                          |       |                            |   |   |   |   |   |   |
| TOTAL                  OPERATING EXPENSES                            |   |                           | 258,287    |                           |   | 1,956                         |   |                          | 282,327    |                            |   | 3,629 |   |   | 332,760 |   |
|                                                                 |   |                           |       |                           |   |                          |   |                          |       |                            |   |   |   |   |   |   |
| NET                  LOSS                                            |   | $                              | (258,287   | )                              | $      | (1,956                        | )      | $                             | (282,327   | )                               | $      | (3,629 | ) | $ | (332,760 | ) |
|                                                                 |   |                           |       |                           |   |                          |   |                          |       |                            |   |   |   |   |   |   |
| BASIC                  LOSS PER SHARE                                |   | $                              | (0.00      | )                              | $      | (0.00                         | )      | $                             | (0.01      | )                               | $      | (0.00 | ) |   |   |   |
|                                                                 |   |                           |       |                           |   |                          |   |                          |       |                            |   |   |   |   |   |   |
| Weighted                  Average Shares                             |   |                           |       |                           |   |                          |   |                          |       |                            |   |   |   |   |   |   |
|   Outstanding                                              |   |                           | 55,973,001 |                           |   | 55,753,000                    |   |                          | 55,840,434 |                            |   | 55,753,000 |   |   |   |   |

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**US      URANIUM, INC.**

|                                                                                                       |   |                              |     |                              |   | From                  Inception |   |
|------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|----------|-----------------------------------|--------|---------------------------------|--------|
|                                                                                                       |   | For                  the          |     | For                  the          |   | On                  April 19,   |   |
|                                                                                                       |   | Six                  Months Ended |     | Six                  Months Ended |   | 2004                  through   |   |
|                                                                                                       |   | July                  31,         |     | July                  31,         |   | July                  31,       |   |
|                                                                                                       |   | 2007                              |     | 2006                              |   | 2007                            |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |
| CASH                  FLOWS FROM OPERATING ACTIVITIES                                                      |   |                              |     |                              |   |                            |   |   |   |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
|                       Net loss                                                         |   | $                                 | (282,327 | )                                 | $      | (3,629                          | )      | $ | (332,760 | ) |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
|                       Adjustments to reconcile net income to                           |   |                              |     |                              |   |                            |   |   |   |   |
|                         net cash provided by operating activities:           |   |                              |     |                              |   |                            |   |   |   |   |
|                           Common stock issued for services         |   |                              | 2,000    |                              |   | -                               |   |   | 2,000 |   |
|                       Changes in operating assets and liabilities:                     |   |                              |     |                              |   |                            |   |   |   |   |
|                           (Increase) decrease in prepaid expenses  |   |                              | -        |                              |   | (5,000                          | )      |   | - |   |
|                           Increase (decrease) in accounts payable  |   |                              | 219,287  |                              |   | -                               |   |   | 219,287 |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| NET                  CASH (USED) BY OPERATING ACTIVITIES                                                   |   |                              | (61,040  | )                                 |   | (8,629                          | )      |   | (111,473 | ) |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| CASH                  FLOWS FROM INVESTING ACTIVITIES                                                      |   |                              |     |                              |   |                            |   |   |   |   |
|         Issuance                  of note receivable               |   |                              | (557,927 | )                                 |   | -                               |   |   | (557,927 | ) |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| NET                  CASH (USED) BY INVESTING ACTIVITIES                                                   |   |                              | (557,927 | )                                 |   | -                               |   |   | (557,927 | ) |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| CASH                  FLOWS FROM FINANCING ACTIVITIES                                                      |   |                              |     |                              |   |                            |   |   |   |   |
|         Proceeds                  from notes payable-related party |   |                              | -        |                              |   | -                               |   |   | - |   |
|         Proceeds                  from common stock                |   |                              | 595,000  |                              |   | -                               |   |   | 669,400 |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| NET                  CASH PROVIDED BY FINANCING ACTIVITIES                                                 |   |                              | 595,000  |                              |   | -                               |   |   | 669,400 |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| NET                  INCREASE IN CASH                                                                      |   |                              | (23,967  | )                                 |   | (8,629                          | )      |   | - |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| CASH                  - BEGINNING OF PERIOD                                                                |   |                              | 23,967   |                              |   | 50,125                          |   |   | - |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| CASH                  - END OF PERIOD                                                                      |   | $                                 | -        |                              | $      | 41,496                          |   | $ | - |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| SUPPLEMENTAL                  CASH FLOW DISCLOSURE:                                                        |   |                              |     |                              |   |                            |   |   |   |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| CASH                  PAID FOR:                                                                            |   |                              |     |                              |   |                            |   |   |   |   |
|         Interest                                                   |   | $                                 | -        |                              | $      | -                               |   | $ | - |   |
|         Income                  taxes                              |   | $                                 | -        |                              | $      | -                               |   | $ | - |   |
|                                                                                                       |   |                              |     |                              |   |                            |   |   |   |   |
| NON                  CASH FINANCING ACTIVITIES:                                                            |   | $                                 | -        |                              | $      | -                               |   | $ | - |   |

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**US        URANIUM, INC.**

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| Cash                             |   | $ | 0       |   |
|----------------------------------|--------|---|---------|--------|
| Total                Assets      |   | $ | 557,927 |   |
| Total                Liabilities |   | $ | 219,287 |   |

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**SIGNATURES**

|                                    |                                                                                         |                                |
|-----------------------------------------|----------------------------------------------------------------------------------------------|-------------------------------------|
|                                    | US                URANIUM INC.                                                               |
|                               |                                                                                    |                           |
| Date:                September 14, 2007 | By:                                                                                | /s/              David Rector  |
|                                    | Name: David                RectorTitle: Principal                Executive Officer |

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