UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington,
D.C.  20549
 
 FORM
10-QSB
 
 
 (Mark
One)
 
 x
              QUARTERLY
      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934
  For the
quarterly period ended December 31, 2007
 
  ̈      TRANSITION
REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
 For the
transition period from      to
 Commission
file number
   
  PURE PHARMACEUTICALS
      CORPORATION
 (Exact
name of small business issuer as specified in its charter)
  
  NEVADA
              45-0476087
 (State
or other jurisdiction of incorporation or organization)                    (IRS Employer Identification
No.)
   P.O. BOX 55, 1594 STONE
      MILL PARK, BELLONA, NY,
14415
 (Address
of principal executive offices)
 
  (315)
      849-2822
 (Issuer's
telephone number)
  
 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  ̈  No x
 
  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:  At February 29, there were
12,600,000 shares of the registrant's Common Stock outstanding.
 
 Transitional
Small Business Disclosure Format (Check one):  Yes  ̈  No x
 
  
 
 
 
 
 
 
 Persons
who are to respond to the collection of information contained in this form are
not required to respond unless the form displays a currently valid OMB control
number.




PART
I – FINANCIAL INFORMATION





ITEM
1. FINANCIAL
STATEMENTS








PURE
PHARMACEUTICAL CORPORATION


(A
Development Stage Company)








FINANCIAL
STATEMENTS





DECEMBER
31, 2007







































































BALANCE
SHEETS





STATEMENTS
OF OPERATIONS





STATEMENTS
OF CASH FLOWS





NOTES
TO THE FINANCIAL STATEMENTS














PURE
      PHARMACEUTICAL CORPORATION
              (A
      Development Stage Company)
              
              BALANCE
      SHEETS




December
      31, 2007
              (Unaudited)
              -
      $ -
            
            
            September
      30, 2007
              -
      $ -ASSETSCurrentCash
            
            
            28,889
            
            
            
            28,906Inventory
            
            
            5,130
            
            
            
            5,13034,019
            
            
            
            34,036LIABILITIESCurrentAccounts
      payable and accrued liabilities
            
            
            54,508
            
            
            
            48,50854,508
            
            
            
            48,508STOCKHOLDERS’
      DEFICITAuthorized:100,000,000
      common shares with a par value of $0.001Issued
      and Outstanding:12,600,000
      common shares
            
            
            12,600
            
            
            
            12,600Additional
      paid up capital
            
            
            154,600
            
            
            
            152,200Accumulated
      comprehensive loss
            
            
            600
            
            
            
            600Deficit
      accumulated during the development stage
            
            
            (188,289
            )
            
            
            (179,872
            )(20,489
            )
            
            
            (14,472
            )34,019
            
            
            
            34,036






























































– See
Accompanying Notes –





PURE
      PHARMACEUTICAL CORPORATION
              (A
      Development Stage Company)
              
              STATEMENTS
      OF OPERATIONS
              (Unaudited)




Three
      months ended December 31, 2007
              -
      $ -
            
            
            Three
      months ended December 31, 2006
              -
      $ -
            
            
            Period
      from September 24, 2004 (Inception) to December 31, 2007
              -
      $ -Revenue
            
            
            -
            
            
            
            5,104
            
            
            
            12,088Cost
      of sales
            
            
            -
            
            
            
            4,083
            
            
            
            9,670-
            
            
            
            1,021
            
            
            
            2,418ExpensesFinancing
      fees
            
            
            -
            
            
            
            -
            
            
            
            5,600General
      and administrative
            
            
            8,417
            
            
            
            5,440
            
            
            
            185,107Net
      loss
            
            
            8,417
            
            
            
            4,419
            
            
            
            188,289Basic
      and diluted loss per share
            
            
            (0.00
            )
            
            
            (0.00
            )Weighted
      average number of common shares outstanding – basic and
      diluted
            
            
            12,600,000
            
            
            
            12,600,000






























































– See
Accompanying Notes –





PURE
      PHARMACEUTICAL CORPORATION
              (A
      Development Stage Company)
              
              STATEMENTS
      OF CASH FLOWS
              (Unaudited)




Three
      months ended December 31, 2007
              -
      $ -
            
            
            Three
      months ended December 31, 2006
              $
      -
            
            
            Period
      from September 24, 2004 (Inception) to December 31, 2007
              -
      $ -Cash
      Flows From Operating ActivitiesNet
      loss
            
            
            (8,417
            )
            
            
            (4,419
            )
            
            
            (188,289
            )Non-cash
      itemsNon-cash
      administrative expenses
            
            
            2,400
            
            
            
            2,400
            
            
            
            31,200Non-cash
      working capital items:Inventory
            
            
            -
            
            
            
            4,083
            
            
            
            (5,130
            )Accounts
      payable and accrued liabilities
            
            
            6,000
            
            
            
            (19,000
            )
            
            
            54,508Net
      cash used in operations
            
            
            (17
            )
            
            
            (16,936
            )
            
            
            (107,711
            )Cash
      Flows From Financing ActivitiesCapital
      stock issued
            
            
            -
            
            
            
            -
            
            
            
            136,000Net
      cash provided by financing activities
            
            
            -
            
            
            
            -
            
            
            
            136,000Effect
      of exchange rate changes
            
            
            -
            
            
            
            (499
            )
            
            
            600Increase
      (Decrease) In Cash
            
            
            (17
            )
            
            
            (17,435
            )
            
            
            28,889Cash,
      beginning
            
            
            28,906
            
            
            
            54,124
            
            
            
            -Cash,
      ending
            
            
            28,889
            
            
            
            36,689
            
            
            
            28,889Supplementary
      Cash Flow Information:Cash
      paid for:Interest
            
            
            -
            
            
            
            -
            
            
            
            -Income
      taxes
            
            
            -
            
            
            
            -
            
            
            
            -


















































– See
Accompanying Notes –








1.
            BASIS
      OF PRESENTATION





UNAUDITED
INTERIM FINANCIAL STATEMENTS





The
accompanying unaudited interim financial statements have been prepared in
accordance with generally accepted accounting principles in the United States
for interim financial information and with the instructions to Form 10-QSB of
Regulation S-B.  They do not include all information and footnotes
required by generally accepted accounting principles for complete financial
statements.  However, except as disclosed herein, there has been no
material changes in the information disclosed in the notes to the financial
statements for the year ended September 30, 2007 included in the Company’s Form
10-KSB filed with Securities and Exchange Commission.  The interim
unaudited financial statements should be read in conjunction with those
financial statements included in the Form 10-KSB.  In the opinion of
management, all adjustments considered necessary for a fair presentation,
consisting solely of normal recurring adjustments, have been
made.  Operating results for the three months ended December 31, 2007
are not necessarily indication of the results that may be expected for the year
ending September 30, 2008.





ITEM
2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
OPERATION





Forward
Looking Statements





In
addition to historical information, the following discussion and other parts of
this document may contain forward-looking statements.  These
statements relate to future events or our future financial performance. In some
cases, you can identify forward-looking statements by terminology such as "may,"
"will," "should," "expect," "plan," "anticipate," "believe," "estimate,"
"predict," "potential," or "continue," the negative of such terms or other
comparable terminology. These statements are only predictions. The events
described in forward looking statements we make in this Form 10-QSB may not
occur.  Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements.  We caution you that
these statements are not guarantees of future performance or events and are
subject to a number of uncertainties risks and other influences, many of which
are beyond our control that may influence the accuracy of the statements and the
projections upon which the statements are based. Moreover, neither we nor any
other person assume responsibility for the accuracy and completeness of the
forward-looking statements.  Except as may be required by law, we
undertake no obligation to publicly update any of the forward-looking statements
after the date of this report to conform such statements to actual results or to
changes in our expectations.





Actual
results could differ materially from those anticipated by such forward-looking
statements. The following discussion should be read in conjunction with the
financial statements as well as other financial information appearing elsewhere
in this document.  Readers are also urged to carefully review and
consider the various disclosures made by us which attempt to advise interested
parties of the factors which affect our business.




Our
Business





The
Company was formed in order to seek business opportunities in the area of
expertise of the Company's principal stockholder, Mr. Roger Gordon, being
biological and/or medical products for animal use. The Company operates in the
field of generic animal health and nutrition products, specifically medicated
feed additives (MFAs). MFAs are used preventively and therapeutically in animal
feed to prevent disease and foster growth in livestock.  In North
America, 90% of all feed to animals contain MFAs.  Our intended
customers operate in the poultry, swine and cattle markets.  The
Company is focusing its efforts on generic MFAs, as they have come off patent,
therefore making them more economical to register with requisite regulators in
the United States and Canada, with a view to bringing the products to
market.








We have
begun marketing operations of a related-party owned MFA, Oxytetracycline, and
are in the exploratory phase of identifying generic MFAs that we intend to test
and register with regulatory authorities with a view to being granted a DIN or
similar authorization to market such MFAs in North America (henceforth, the
identification process). As market dynamics have undergone significant systemic
changes over the past three years with the emergence of avian flu and the
attendant fall in poultry consumption worldwide, management has had to conduct
the identification process with due deliberation.




As our
operations are just beginning and are still in their infancy, the Company's
activities to date have been primarily organizational in nature and as a result
the Company must be considered to be in its developmental stage.  The
Company relies solely on the efforts of its management and director and has no
employees, owns few business assets, technology or real estate and since
inception has been primarily involved in developing its business plan,
preliminarily identifying generic MFAs for registration, and raising initial
capital.





Results
of Operations





Results of Operations for
the Period ended December 31, 2007





We did
not earn any net revenues in the 3 months ended December 31, 2007. We incurred
operating expenses in the amount of $8,417 for the three months ended December
31, 2007. Our net loss for the three months ended was $8,417. As at December 31,
2007 we had cash of $28,889.





This
quarter has been difficult as corn prices, the main ingredient in feed, has
reached near record highs. Producers' elasticity to take even further cost input
risks is very limited and driven by caution. Our losses stem from the payment of
professional fees.





Results of Operations from
the Fiscal Year ended September 30, 2007





In the
fiscal year ended September 30, 2007, we had net revenue in the amount of
$12,088, operating expenses in the amount of $64,886 and our net loss was
$62,468. As at September 30, 2007 we had cash of $28,906 and a
negative working capital of $14,472.





As a
result of its activities in late fiscal 2006, the Company located suitable
clients willing to purchase the MFA and was able to book its first sale in the
first quarter of fiscal 2007 for $5,104. During the second quarter of fiscal
2007, the Company booked a sale in the amount of $3,984. In the third quarter,
the Company was unable to make any sales. In the fourth quarter, the Company
booked a sale of $3,000. Management believes that its inability to generate
greater sales is attributable to the high price of maize which is one of the
largest cost components of feed.  Maize prices have increased
dramatically in the last 12 months from its historic averages. There are many
factors driving the price of maize higher, including its use as an emerging fuel
(ethanol). This significant jump in prices have forced upward "at the gate"
prices for poultry in cities such as Toronto where from the period of January to
June 2007, prices for poultry had increased 11.6% from $1.16 to $1.29/kilogram.
Management believes that until retail customers are willing to pay more, animal
producers are going to continue a cautious approach towards shouldering
additional "cost risk".








To
broaden our distribution network, the Company set up a website,
www.purepharmacorp.com, to complement sales efforts.





Results of Operations for
the Period ended September 30, 2006





We did
not earn any revenue from the period from our inception on September 24, 2004 to
September 30, 2006.  We incurred operating expenses in the amount of
$52,963 for the year ended September 30, 2006.  These operating
expenses were comprised primarily of $38,322 for professional fees and $14,641
in office and general expenses.  Our net loss for the year ended
September 30, 2006 was $52,963. As at September 30, 2006 we had cash of $54,124
and working capital of $35,692.





Since the
acquisition of the license (CAS: 6153-64-6) to market Oxytetracycline in Canada,
in the third quarter of fiscal 2006 the Company was able to secure manufacturing
in the Far East with Jiangxi Pharmaceutical Factory in China. After running
tests, the factory demonstrated the efficacy of the aforementioned MFA and the
Company placed its first order and received deliveries from its supply chain in
the fourth quarter (July to September) of fiscal 2006.





Results of Operations for
Period Ending September 30, 2005 (as restated) from
Inception





We did
not earn any revenue from the period from our inception on September 24, 2004 to
September 30, 2005. We incurred operating expenses in the amount of $64,441 for
the year ended September 30, 2005. These operating expenses were comprised
primarily of $39,463 for professional fees and, $24,978 in office and general
expenses. Our net loss for the year ended September 30, 2005 was $64,441. As at
September 30, 2005, we had cash of $89,177 and working capital of
$72,600.





Liquidity
and Capital Resources





Our cash
reserves are not sufficient to meet our funding needs beyond the next nine-month
period.  As a result, we will need to seek additional funding in the
near future. We are currently seeking such additional funding and anticipate
that any such additional funding will be in the form of equity or debt
financing.  We currently do not have any arrangements in place for any
future equity or debt financing.  We may also seek to obtain
short-term loans from our directors, although no such arrangements have as yet
been made.  There can be no assurance that we will able to raise
sufficient funding through such equity or debt financing or through director
loans to meet our funding needs after the next 9 months.





The
Independent Auditor's Report to our audited financial statements for the period
ended September 30, 2007 indicated that there are a number of factors that raise
substantial doubt about our ability to continue as a going
concern.  Such factors identified in the report include that we need
to generate profitable operations and are in need of obtaining adequate
financing.  For these and other related reasons our auditors believe
that there is substantial doubt that we will be able to continue as a going
concern.





Comparison
of Interim Financial Results





Since the
end of the last fiscal year, September 30, 2007, we have not generated revenue
during this period for the reasons discussed under "Results of Operation -
Results of Operations for the Period ended December 31, 2007". This led to a
loss of $8,417 for the quarterly period ending December 31, 2007. Due to our
limited revenues and cash position, the financial position of the Company has
further deteriorated as a result of our ongoing expenses incurred in the normal
course of business, including accounts payable to professionals.








Compared
to the comparable interim period ended December 31, 2006 when we booked a sale
of $5,104, no sales were booked during the current interim period ending
December 31, 2007 due to the increasing prices of corn which negatively impacts
our operations. See "Results of Operation - Results of Operations for the Period
ended December 31, 2007".





Off-Balance
Sheet Arrangements





The
Company does not have any off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on the small business
issuer's financial condition, changes in financial condition, revenues or
expenses, results of operations, liquidity, capital expenditures or capital
resources that is material to investors.





ITEM
3.  CONTROLS AND PROCEDURES





Evaluation of
Disclosure Controls and Procedures.    The
Company's Management under
the supervision and with the participation of the Principal Executive Officer
and the Principal Financial Officer are responsible for establishing and
maintaining "disclosure
controls and procedures"
(as defined in the Exchange Act) for the Company. Based on their evaluation of
the Company's disclosure controls and procedures as of December 31, 2007, the
Company's Management has concluded that the Company's disclosure controls and
procedures were effective to ensure that the information required to be
disclosed by the Company under the Exchange Act was recorded, processed,
summarized and reported within the time periods specified in the Exchange Act
and accumulated and communicated to the Company's Management, including the
Principal Executive Officer and the Principal Financial Officer, to allow timely
decisions regarding required disclosure.





Changes in Internal Control over
Financial Reporting.    During the fiscal quarter
ending December 31, 2007, there were no changes in the Company's internal control over
financial reporting during the period covered by this report that have
materially affected, or are reasonably likely to materially affect, the
Company's internal control
over financial reporting.





Limitations on the Effectiveness of
Controls.    A control system, no matter how well
conceived and operated, can provide only reasonable, not absolute, assurance
that the objectives of the control system are met. Because of the inherent
limitations in all control systems, no evaluation of controls can provide
absolute assurance that all control issues, if any, within a company have been
detected. The Company's
disclosure controls and procedures are designed to provide reasonable assurance
of achieving their objectives, and the Principal Executive Officer and the
Principal Financial Officer have concluded that these controls and procedures
are effective at the "reasonable assurance" level.





ITEM
3A (T). CONTROLS AND PROCEDURES





The
Company's management is responsible for establishing and maintaining adequate
internal control over financial reporting. Our internal control over financial
reporting is designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting
principles.





Our
internal control over financial reporting includes those policies and procedures
that:





·
            Pertain
      to the maintenance of records that, in reasonable detail, accurately and
      fairly reflect the transactions and dispositions of the assets of the
      Company;










·
            Provide
      reasonable assurance that transactions are recorded as necessary to permit
      preparation of financial statements in accordance with generally accepted
      accounting principles, and that receipts and expenditures are being made
      only in accordance with authorizations of management and the director;
      and





·
            Provide
      reasonable assurance regarding prevention or timely detection of
      unauthorized acquisition, use or disposition of assets that could have a
      material effect on the financial
statements.





As
required by Rule 13a-15 and 15d-15 under the Securities and Exchange Act of
1934, Management assessed the effectiveness of the Company’s internal control
over financial reporting as of December 31, 2007. Based on this assessment, the
Company's management has concluded that the Company maintained effective
internal control over financial reporting as of December 31, 2007, the end of
the period covered by this quarterly report.





This
quarterly report does not include an attestation report of the company's
registered public accounting firm regarding internal control over financial
reporting.  Management's report was not subject to attestation by the
company's registered public accounting firm pursuant to temporary rules of the
Securities and Exchange Commission ("SEC") that permit the Company to provide
only management's report in this quarterly report.





Changes in Internal Control over
Financial Reporting.    Management has evaluated
whether any changes in our internal control over financial reporting that
occurred during our last fiscal quarter have materially effected, or reasonably
likely to materially effect our internal control over financial reporting. Based
on the evaluation we conducted, management has concluded that during the fiscal
quarter ending December 31, 2007, there were no changes in the Company's
internal control over financial reporting during the period covered by this
report that have materially affected, or are reasonably likely to materially
affect, the Company's internal control over financial reporting.





A control
system, no matter how well conceived and operated, can provide only reasonable,
not absolute, assurance that the objectives of the control system are met.
Because of the inherent limitations in all control systems, no evaluation of
controls can provide absolute assurance that all control issues, if any, within
a company have been detected. The Company's disclosure controls and
procedures are designed to provide reasonable assurance of achieving their
objectives, and the Principal Executive Officer and the Principal Financial
Officer have concluded that these controls and procedures are effective at the
"reasonable assurance" level.





PART
II – OTHER INFORMATION





ITEM
1.  LEGAL PROCEEDINGS.





We are
not currently a party to any legal proceedings.





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





None.





ITEM
3.  DEFAULTS UPON SENIOR SECURITIES



















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





No
matters have been submitted to our security holders for a vote, through the
solicitation of proxies or otherwise, during the quarterly period ended December
31, 2007.





ITEM
5.  OTHER INFORMATION





None.





ITEM
6.  EXHIBITS.





31.1          Certification
of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act
of 2002.





31.2          Certification
of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act
of 2002.





32.1
            Certification
      of Principal Executive Officer pursuant to Section 906 of the
      Sarbanes-Oxley Act of 2002.





32.2
            Certification
      of Principal Financial Officer pursuant to Section 906 of the
      Sarbanes-Oxley Act of 2002.





























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.








PURE PHARMACEUTICALS
CORPORATION


(Registrant)








Date:   March
5,
2008                                                                          
By:/s/
Roger Gordon


Roger Gordon


President, Principal Executive Officer
and Director











Date:   March
5,
2008                                           By:/s/ Charlie
Lee


Charlie Lee


Secretary and Principal Accounting
Officer