UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-Q  X.QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the quarterly period ended March 31, 2011  .TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT  For the transition period from __________ to __________  Commission File Number: 000-21909  Piranha Ventures, Inc. (Exact name of registrant as specified in its charter)  Nevada86-0779928(State or other jurisdiction of(IRS Employer Identification No.)incorporation or organization)  9160 South 300 West, Suite 101 Sandy, Utah84070(Address of principal executive offices)(Zip Code)  801-706-9429 (Registrants telephone number, including area code)  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 past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes X. No .  Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  The registrant is not yet part of the Interactive Data reporting system.  Yes . No .  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 definitions of large accelerated filer, accelerated filer, and smaller reporting company in Rule 12b-2 of the Exchange Act.  Large accelerated filer.Accelerated filer.Non-accelerated filer. (Do not check if a smaller reporting company)Smaller reporting companyX.  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes X. No .  Indicate the number of shares outstanding of each of the issuers classes of common equity, as of the latest practicable date.  12,500,041 shares of $0.001 par value common stock on May 2, 2011    Part I - FINANCIAL INFORMATION  Item 1. Financial Statements Piranha Ventures, Inc. FINANCIAL STATEMENTS (UNAUDITED) March 31, 2011  The financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted.  However, in the opinion of management, all adjustments (which include only normal recurring accruals) necessary to present fairly the financial position and results of operations for the periods presented have been made.  These financial statements should be read in conjunction with the accompanying notes, and with the historical financial information of the Company.  2   PIRANHA VENTURES, INC. BALANCE SHEET  March 31,December 31,20112010ASSETS(Unaudited)CURRENT ASSETSCash in bank$498$536Total Current Assets498536TOTAL ASSETS$498$536LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)CURRENT LIABILITIESAccounts payable$2,360$-Note Payable - Related Party3,245-Total Current Liabilities5,605-STOCKHOLDERS' EQUITY (DEFICIT)Preferred stock; $.001 par value, 10,000,000 shares authorized; no shares issued and outstanding--Common stock; $.001 par value, 25,000,000 shares$.001 par value, 90,000,000 shares authorized;17,500,036 shares issued and outstanding17,50017,500Capital in excess of par value5,963,8635,963,863Retained deficit(5,986,470)(5,980,827)Total Stockholders' Equity (Deficit)(5,107)536TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)$498$536  The accompanying notes are an integral part of these unaudited financial statements.  3   PIRANHA VENTURES, INC.  STATEMENTS OF OPERATIONS (UNAUDITED)  For the Three Months EndedMarch 31,20112010INCOME$-$-EXPENSESGeneral and administrative5,6439,274Total expenses5,6439,274OPERATING LOSS(5,643)(9,274)LOSS BEFORE INCOME TAXES(5,643)(9,274)Provision for income taxes--NET LOSS$(5,643)$(9,274)LOSS PER SHARE - basic and diluted$(0.00)$(0.00)WEIGHTED AVERAGE NUMBER OF COMMON SHARES17,500,03613,611,151  The accompanying notes are an integral part of these unaudited financial statements.  4   PIRANHA VENTURES, INC.  STATEMENTS OF CASH FLOWS (UNAUDITED)  For the Three Months EndedMarch 31,20112010CASH FLOWS FROM OPERATING ACTIVITIESNet (loss)$(5,643)$(9,274)Adjustments to reconcile net (loss) to net cash usedby operating activitiesChanges in assets and liabilitiesIncrease in accounts payable2,3602,662Net cash (used) by operating activities(3,283)(6,612)CASH FLOWS FROM FINANCING ACTIVITIESLoan from related party3,2455,000Net Cash Provided By Financing Activities3,2455,000NET INCREASE (DECREASE) IN CASH(38)(1,612)CASH - BEGINNING OF PERIOD5367,542CASH - END OF PERIOD$498$5,930Supplemental Cash Flow Disclosure:Cash paid for :Interest$--$--Income Taxes$--$--  The accompanying notes are an integral part of these unaudited financial statements.  5   Piranha Ventures, Inc. Notes to Unaudited Financial Statements March 31, 2011   Note 1: Basis of Presentation and Summary of Significant Accounting Policies  Organization  Piranha Ventures, Inc. (the Company or Piranha) was incorporated under the laws of the State of Arizona on November 14, 1994. On November 22, 1996, the Company reincorporated under the laws of the State of Nevada and effected a forward split of its common stock on a basis of approximately 242 shares of the Nevada corporation for each share of the Arizona corporation. The Company ceased to actively pursue its business operations relating to the publishing of interactive media software in July, 1999.  On October 28, 2009, the Company filed Amended and Restated Articles of Incorporation with the Secretary of State of Nevada changing its name from Piranha Interactive Publishing, Inc. to Piranha Ventures, Inc. The Company also increased its authorized common shares from 20 million to 90 million and it increased its authorized preferred shares from 5 million to 10 million. The financial statements have been retroactively restated to reflect these changes.  Going Concern  The Companys financial statements have been prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not generated any revenue for several years and affiliates of an officer and director of the Company have provided capital to pay prior and current obligations. During 2009, the Company issued 3,888,885 shares of its common stock for $17,500.  In the first quarter of 2010 a related party loaned the company $5,000.  On June 15, 2010, the Company converted the notes payable into 1,111,110 shares of Common Stock.  During the second quarter of 2010, the Company issued 1,666,665 shares of its common stock for $7,500.  In the third quarter of 2010 a related party loaned the Company $2,500. On November 9, 2010 the Company issued 555,555 shares of its Common Stock.  On December 30, 2010 the Company issued 555,555 shares of its common stock for $2,500.  In the first quarter of 2011 a related party loaned the Company $3,245.  The Company requires additional capital to continue its limited operations. Furthermore, the Companys officers and directors serve in their capacities without compensation. The Company assumes that these arrangements and the availability of future capital sources will continue into the future, but no assurance thereof can be given. A change in these circumstances would have a material adverse effect on the Companys ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.  Income Taxes  The Company utilizes the liability method of accounting for income taxes as set forth in FASC 740-20, Accounting for Income Taxes. Under the liability method, deferred taxes are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse.  An allowance against deferred tax assets is recorded when it is more likely than not that such tax benefits will not be realized.  Estimates  The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.  Cash and Cash Equivalents  For purposes of reporting cash flows, the Company considers all highly-liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.  Revenue Recognition  The Company plans to recognize revenue when the following four conditions are present: (1) persuasive evidence of an agreement exists, (2) the price is fixed or determinable, (3) delivery has occurred or services are rendered, and (4) collection is reasonably assured.  6   Piranha Ventures, Inc. Notes to Unaudited Financial Statements March 31, 2011   Note 1: Basis of Presentation and Summary of Significant Accounting Policies  continued  Income (Loss) Per Common Share  Income (Loss) per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the periods presented.  The Company has no potentially dilutive securities, in 2010 and 2011.  Accordingly, basic and dilutive loss per common share are the same.  Recently Issued Accounting Pronouncements  The Company has reviewed recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operations, financial position or cash flows.  Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.  Note 2: Income Taxes  Due to losses at March 31, 2011 and December 31, 2010, the Company had no income tax liability and thus no provision for taxes was recorded.At March 31, 2011 and December 31, 2010 the Company had available unused operating loss carry forwards of approximately $5,986,470 and $5,980,827, respectively, which may be applied against future taxable income and which expire in various years through 2030.  The amount of and ultimate realization of the benefits from the operating loss carry forwards for income tax purposes is dependent, in part, upon the tax laws in effect, the future earnings of the Company and other future events, the effects of which cannot be determined at this time. Because of the uncertainty surrounding the realization of the loss carry forwards, the Company has established a valuation allowance equal to the tax effect of the loss carry forwards and, therefore, no deferred tax asset has been recognized for the loss carry forwards. The net deferred tax assets are approximately $2,036,348 and $2,034,243 as of March 31, 2011 and December 31, 2010, respectively, with an offsetting valuation allowance of the same amount resulting in a change in the valuation allowance of approximately $2,105 during the three months ended March 31, 2011.  Note 3: Capital Stock  Preferred Stock and Common Stock  The Companys Board of Directors is expressly granted the authority to issue without stockholder action, the authorized shares of the Companys preferred and common stock. The Board of Directors may issue shares and determine the powers, preferences, limitations, and relative rights of any class of shares before the issuance thereof.  Preferred Stock  On October 1, 2007, the Company issued 100,000 shares of the Series A Preferred Stock in consideration of $5,000 cash. The Series A Preferred Stock has the following preferences: a) each share is entitled to 50 votes on any matter voted upon by the common stockholders; b) in the event of any involuntary or voluntary liquidation shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, whether from capital, surplus, or earnings, an amount equal to $0.05 per share; c) are subject to redemption by the Corporation at any time after issuance; d) each share shall have a redemption price of $0.05; e) are not redeemable at the option of the holder under any circumstance, and (f) are convertible into shares of common stock at the rate of ten shares of common stock for every one share of Preferred Stock.  On December 31, 2009, the Company converted the 100,000 shares of Series A Preferred Stock into 1,000,000 shares of Common Stock.  Common Stock  On June 19, 2009, the Company cancelled 1,225,000 shares that were issued in 1997 pursuant to a Voting Trust Agreement dated November 13, 1996. The shares were issued to the stockholders contingent upon the Company achieving certain revenue, earnings or share price criteria within a five year period. If the criteria were not met the shares were to be returned to the Companys authorized, but unissued shares. The Company failed to meet the criteria within the five year period. In as much as the Company ceased operations in 1999, there was no active board of directors to instruct its former transfer agent to cancel the shares upon the 2001 anniversary date. In 2004, the former transfer agent destroyed all of the physical certificates that it held on behalf of the Company. Some of the certificates destroyed were those issued pursuant to the aforementioned Voting Trust. The current board of directors posted a bond with the Companys current transfer agent to cover the destroyed certificates and then instructed the transfer agent to return the 1,225,000 shares to the authorized, but unissued shares of the Company.  7   Piranha Ventures, Inc. Notes to Unaudited Financial Statements March 31, 2011   Note 3: Capital Stock  continued  On September 29, 2009, the Company offered and sold 3,888,885 shares of its common stock for $0.0045 per share to qualified purchasers through an offer and sale in compliance with exemptions from state and federal registration requirements.  On December 31, 2009, the Company converted its outstanding related party notes payable totaling $30,363 into 6,747,266 shares of Common Stock.  On June 15, 2010, the Company converted its outstanding related party notes payable totaling $5,000 into 1,111,110 shares of Common Stock.  On June 15, 2010, the Company offered and sold 1,666,665 shares of its common stock for $0.0045 per share to qualified purchasers through an offer and sale in compliance with exemptions from state and federal registration requirements.  On November 9, 2010, the Company converted its outstanding related party notes payable totaling $2,500 into 555,555 shares of Common Stock.  On December 30, 2010, the Company offered and sold 555,555 shares of its common stock for $0.0045 per share to qualified purchasers through an offer and sale in compliance with exemptions from state and federal registration requirements.  Note 4: Related Party Transactions  During 2006, 2007, 2008 and 2009, a corporation affiliated with an officer and director of the Company and a shareholder of the Company paid certain outstanding obligations of the Company, and paid such other expenses as were required to bring the Company current in its filings with the State of Nevada and to bring its accounting records current. Those amounts totaled $16,000 during 2006, $1,039 during 2007, $8,206 during 2008 and $1,500 during 2009, for a total of $26,745. On December 31, 2007, the Company entered into a demand note payable with the corporation in the amount of $17,039 bearing interest at the rate of 7% per annum. At the same time, the Companys board of directors approved a line-of-credit obligation with the corporation allowing the Company to borrow an additional $12,961 (for a total of $30,000), under the same terms and conditions. On April 30, 2008, the Company entered into a demand note with its shareholder in the amount of $5,000 bearing interest at the rate of 7% per annum. On December 1, 2008, the Company borrowed $3,206 through its line-of-credit. On July 9, 2009, the Company borrowed an additional $1,500 through its line-of-credit. Accrued interest as of December 31, 2009 was $3,617. Total notes payable with accrued interest as of December 31, 2009 was $30,363. On December 31, 2009, the Company converted its outstanding related party notes payable totaling $30,363 into 6,747,266 shares of Common Stock. In the first quarter of 2010 a related party loaned the Company $5,000.  On June 15, 2010, the Company converted the notes payable into 1,111,110 shares of Common Stock.   In the third quarter of 2010 a related party loaned the Company $2,500.  On November 9, 2010, the Company converted the notes payable into 555,555 shares of Common Stock. .   In the first quarter of 2011 a related party loaned the Company $3,245.  Note 5: Subsequent Events  ASC 855-16-50-4 establishes accounting and disclosure requirements for subsequent events. ASC 855 details the period after the balance sheet date during which we should evaluate events or transactions that occur for potential recognition or disclosure in the financial statements, the circumstances under which we should recognize events or transactions occurring after the balance sheet date in our financial statements and the required disclosures for such events. We adopted this statement effective June 15, 2009 and have evaluated all subsequent events through the date these financial statements were issued.  On April 25, 2011 a director and shareholder cancelled 4,999,995 of his own shares of the Company. This event reduced the number of issued and outstanding shares of the Company from 17,500,036 to 12,500,041.   8     Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations  Special Note Regarding Forward-Looking Statements  This periodic report contains certain forward-looking statements with respect to the Plan of Operations provided below, including information regarding the Companys financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive positions, growth opportunities, and the plans and objectives of management. The statements made as part of the Plan of Operations that are not historical facts are hereby identified as "forward-looking statements."  Critical Accounting Policies and Estimates  The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the unaudited Financial Statements and accompanying notes.  Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions.  The Company believes there have been no significant changes during the three month period ended March 31, 2011, to the items disclosed as significant accounting policies in management's Notes to the Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2010.  Corporate History  Piranha Ventures, Inc. (Piranha or the Company) was organized in Arizona on November 14, 1994 and on November 22, 1996, reincorporated in Nevada.  Currently, Piranha has no operations other than seeking to identify and acquire an operating entity after discontinuing its publishing of interactive multimedia software products.  Prior to discontinuing operations, Piranha completed an initial public offering in September 1997.  Since Piranhas initial operations proved unsuccessful, management was changed and a new management team with experience in mergers and acquisition has been installed.  Since the termination of its prior business, Piranha has had no operations other than seeking an acquisition or merger to bring an operating entity into Piranha.  Piranha does not propose to restrict its search for a business opportunity to any particular industry or geographical area and may, therefore, engage in essentially any business in any industry.  Piranha has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions, and other factors.  The selection of a business opportunity in which to participate is complex and risky. Additionally, Piranha has only limited resources and may find it difficult to locate good opportunities.  There can be no assurance that Piranha will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to Piranha and its stockholders. Piranha will select any potential business opportunity based on management's business judgment.  Currently, Piranha is in the process of investigating potential business ventures which, in the opinion of management, will provide a source of eventual profit to Piranha.  Such involvement may take many forms, including the acquisition of an existing business or the acquisition of assets to establish subsidiary businesses.  At this time, Piranhas management has been focused on investigating various industries.  Additionally, management has been investigating whether there are merger and acquisition activities in the industries.  To this end, management has focused on the medical and green energy industries.  These efforts have been focused on discussions with management in the industries and research.  Piranha is not currently conducting any business except for looking for a potential business venture. Therefore, it does not possess products or services, distribution methods, competitive business positions, or major customers. Piranha does not possess any unexpired patents or trademarks and any and all of its licensing and royalty agreements from the inventions it sought to market in the past have since expired, and are not currently valid.  Piranha does not employ any employees.  The activities of Piranha are subject to several significant risks which arise primarily as a result of the fact that Piranha has no specific business and may acquire or participate in a business opportunity based on the decision of management which potentially could act without the consent, vote, or approval of Piranha's stockholders.  The risks faced by Piranha are further increased as a result of its lack of resources and its inability to provide a prospective business opportunity with significant capital.  9     Plan of Operations  Overview:  The Company has not received any revenue from operations in each of the last two fiscal years. The Companys current operations have consisted of taking such action as management believes necessary to prepare to seek an acquisition or merger with an operating entity.  The financial statements contained in this interim report have been prepared assuming that the Company will continue as a going concern. The Company is not engaged in any revenue producing activities and has not established any source of revenue other than described herein. These factors raise substantial doubt that the Company will be able to continue as a going concern even though management believes that sufficient funding is available to meet its operating needs during the next twelve months. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.  Risks associated with the plan of operations:  In its search for a business opportunity, management anticipates that the Company will incur additional costs for legal and accounting fees to locate and complete a merger or acquisition. Other than previously discussed, the Company does not have any revenue producing activities whereby it can meet the financial requirements of seeking a business opportunity. There can be no assurance that the Company will receive any benefits from the efforts of management to locate a business opportunity.  The Company does not propose to restrict its search for a business opportunity to any particular industry or geographical area and may, therefore, attempt to acquire any business in any industry. The Company has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions, and other factors. Consequently, if and when a business opportunity is selected, such business opportunity may not be in an industry that is following general business trends.  The selection of a business opportunity in which to participate is complex and risky. Additionally, the Company has only limited resources and this fact may make it more difficult to find any such opportunities. There can be no assurance that the Company will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to the Company and its stockholders. The Company will select any potential business opportunity based on management's business judgment. The Company may acquire or participate in a business opportunity based on the decision of management that potentially could act without the consent, vote, or approval of the Company's stockholders.  It is unlikely that any revenue will be generated until such time as the Company locates a business opportunity to acquire or with which it can merge. However, the Company is not restricting its search to those business opportunities that have profitable operations. Even though a business opportunity is acquired that has revenues or gross income, there is no assurance that profitable operations or net income will result therefrom. Consequently, even though the Company may be successful in acquiring a business opportunity, such acquisition does not assume that a profitable business opportunity is being acquired or that stockholders will benefit through an increase in the market price of the Company's common stock.  The acquisition of a business opportunity, no matter what form it may take, will almost assuredly result in substantial dilution for the Company's current stockholders. Inasmuch as the Company only has its equity securities (its common and preferred stock) as a source to provide consideration for the acquisition of a business opportunity, the Company's issuance of a substantial portion of its authorized common stock is the most likely method for the Company to consummate an acquisition. The issuance of any shares of the Company's common stock will dilute the ownership percentage that current stockholders have in the Company.  The Company does not intend to employ anyone in the future, unless its present business operations were to change. At the present time, management does not believe it is necessary for the Company to have an administrative office and utilizes the mailing address of the Company's president for business correspondence.  Liquidity and Capital Resources  As of March 31, 2011, the Company had a negative working capital of $5,107 with assets of $498 and liabilities of $5,605.  The Companys current financial position requires management to seek additional capital either through the sale of its shares of common stock or through a loan from its officer, stockholders or others. Although the Company has only incidental ongoing expenses primarily associated with maintaining its corporate status and professional fees associated with accounting and legal costs, it does not have any means to pay such expenses except through shareholder or management loans and the sale of its equity securities.  At this time, there is no commitment to fund the ongoing losses and expenses.  10     Management anticipates that the Company will incur more costs including legal and accounting fees to locate and complete a merger or acquisition.  At the present time the Company does not have the assets to meet these financial requirements. Additionally, the Company does not have substantial assets to entice potential business opportunities to enter into transactions with the Company.  It is unlikely that any revenue will be generated until the Company locates a business opportunity that it may acquire or with which it may merge.  Management of the Company will be investigating various business opportunities.  These efforts may cost the Company not only out of pocket expenses for its management but also expenses associated with legal and accounting costs.  There can be no guarantee that the Company will receive any benefits from the efforts of management to locate business opportunities.  If and when the Company locates a business opportunity, management of the Company will give consideration to the dollar amount of that entity's profitable operations and the adequacy of its working capital in determining the terms and conditions under which the Company would consummate such an acquisition.  Potential business opportunities, no matter which form they may take, will most likely result in substantial dilution for the Company's stockholders as it has only limited capital and no operations.  Results of Operations  For the three months ended March 31, 2011, the Company had a net loss of $5,643 compared to $9,274 loss for the three months ended March 31, 2010.  The Company anticipates losses to remain at the present level until a business opportunity is found. The Company had no revenue during the three months ended March 31, 2011. The Company does not anticipate any revenue until it locates a new business opportunity.  Off-balance sheet arrangements  The Company does not have any off-balance sheet arrangements and it is not anticipated that the Company will enter into any off-balance sheet arrangements.  Forward-looking Statements  Our Company and our representatives may from time to time make written or oral statements that are forward-looking, including statements contained in this Quarterly Report and other filings with the Securities and Exchange Commission and in reports to our Companys stockholders. Management believes that all statements that express expectations and projections with respect to future matters, as well as from developments beyond our Companys control including changes in global economic conditions are forward-looking statements within the meaning of the Act. These statements are made on the basis of managements views and assumptions, as of the time the statements are made, regarding future events and business performance. There can be no assurance, however, that managements expectations will necessarily come to pass. Factors that may affect forward-looking statements include a wide range of factors that could materially affect future developments and performance, including the following:  Changes in Company-wide strategies, which may result in changes in the types or mix of businesses in which our Company is involved or chooses to invest; changes in U.S., global or regional economic conditions, changes in U.S. and global financial and equity markets, including significant interest rate fluctuations, which may impede our Companys access to, or increase the cost of, external financing for our operations and investments; increased competitive pressures, both domestically and internationally, legal and regulatory developments, such as regulatory actions affecting environmental activities, the imposition by foreign countries of trade restrictions and changes in international tax laws or currency controls; adverse weather conditions or natural disasters, such as hurricanes and earthquakes, labor disputes, which may lead to increased costs or disruption of operations.  This list of factors that may affect future performance and the accuracy of forward-looking statements is illustrative, but by no means exhaustive. Accordingly, all forward-looking statements should be evaluated with the understanding of their inherent uncertainty.  Item 3.  Quantitative and Qualitative Disclosures About Market Risk.  NA-Smaller Reporting Company  11     Item 4.  Controls and Procedures.  Evaluation of Disclosure Controls and Procedures  Our management, with the participation of our President and CFO, evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, our President and CFO concluded that our disclosure controls and procedures as of the end of the period covered by this report were effective such that the information required to be disclosed by us in reports filed under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SECs rules and forms and (ii) accumulated and communicated to our management, including our President and CFO, as appropriate to allow timely decisions regarding disclosure. A controls system cannot provide absolute assurance, however, that the objectives of the controls system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. We believe our controls do provide reasonable assurances.   Managements Report on Internal Control over Financial Reporting  Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States.   Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.   Our management, with the participation of the President and CFO, evaluated the effectiveness of our internal control over financial reporting as of March 31, 2011.  Based on this evaluation, our management, with the participation of the President and CFO, concluded that, as of March 31, 2011, our internal control over financial reporting was effective.  Changes in internal control over financial reporting  There have been no changes in internal control over financial reporting.  PART II - OTHER INFORMATION  ITEM 1.  Legal Proceedings  None  ITEM 1A. Risk Factors  NA-Small Reporting Company  ITEM 2.  Unregistered Sales of Equity Securities and Use of Proceeds  Recent Sales of Unregistered Securities  On June 15, 2010, the Company converted its outstanding related party notes payable totaling $5,000 into 1,111,110 shares of Common Stock.  On June 15, 2010, the Company offered and sold 1,666,665 shares of its common stock for $0.0045 per share to qualified purchasers through an offer and sale in compliance with exemptions from state and federal registration requirements.  On November 9, 2010, the Company converted its outstanding related party notes payable totaling $2,500 into 555,555 shares of Common Stock.  On December 30, 2010, the Company offered and sold 555,555 shares of its common stock for $0.0045 per share to qualified purchasers through an offer and sale in compliance with exemptions from state and federal registration requirements.  12     Use of Proceeds of Registered Securities  None; not applicable.  Purchases of Equity Securities by Us and Affiliated Purchasers  During the three months ended March 31, 2011, we have not purchased any equity securities.  ITEM 3.  Defaults Upon Senior Securities  We are not aware of any defaults upon senior securities.  ITEM 4.  (Removed and Reserved)   ITEM 5.  Other Information.  None  ITEM 6.  Exhibits  a) Index of Exhibits:  Exhibit Table #Title of DocumentLocation3 (i)Articles of IncorporationIncorporated by reference*3 (ii)BylawsIncorporated by reference*4Specimen Stock CertificateIncorporated by reference*11Computation of loss per shareNotes to financial statements31Rule 13a-14(a)/15d-14a(a) Certification  CEO & CFOThis filing32Section 1350 Certification  CEO & CFOThis filing  * Incorporated by reference from the Company's registration statement on Form 10-SB filed with the Commission, SEC File No. 000-21909.  13      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.  Piranha Ventures, Inc. (Registrant)  Dated: May 4, 2011 By:/s/ Kip Eardley Kip Eardley Chief Executive Officer Principal Financial Officer  14