U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 10-Q

(Mark One)
[X] Quarterly Report under Section 13 or 15(d) of the Securities Exchange
Act of 1934

For the quarterly period ended August 31, 2008

[_] Transition Report under Section 13 or 15(d) of the Exchange Act for the
Transition Period from ________ to ___________

Commission File Number: 333-123611

FUTURA PICTURES, INC.
(Exact name of small business issuer as specified in its charter)

Delaware 56-2495218
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

17337 Ventura Boulevard, Suite 208
Encino, California 91316
Issuer's Telephone Number: (818) 784-0040
(Address and phone number of principal executive offices)

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 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 [_]

Check whether the issuer is a "shell company" as defined in Rule 12b-2
of the Securities Exchange Act of 1934. Yes [ ] No [X]

As of August 31, 2008 the issuer had of 1,599,750 shares of common
stock outstanding.

There currently is no public market for the Company's Stock.

Traditional Small Business Disclosure Format (check one) Yes [_] No [X]

INDEX TO QUARTERLY REPORT
ON FORM 10-Q

PAGE
----
PART I FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited) 3
Condensed Balance Sheets
August 31, 2008 and February 28, 2008 4
Condensed Statements of Operations
For the Three- and Six-Month Periods
Ended August 31, 2008 and 2007 5
Condensed Statements of Stockholders' Deficit
For the Period from December 31, 2003 (Date
Of Inception) to August 31, 2008 6
Condensed Statements of Cash Flows
For the Six Months Ended August 31, 2008
and 2007 8
Notes to Financial Statements 10

Item 2. Management's Discussion and Analysis or Plan
of Operation 15

Item 3. Quantitative and Qualitative Disclosures About Market Risk 20

Item 4. Controls and Procedures 20

PART II OTHER INFORMATION

Item 1. Legal Proceedings 21

Item 2. Changes in Securities and Use of Proceeds 21

Item 3. Defaults upon Senior Securities 21

Item 4. Submission of Matters to a Vote of Security Holders 21

Item 5. Other Information 21

Item 6. Exhibits 21

Signatures 22

PART I
FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

(Financial Statements Commence on Following Page)

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED BALANCE SHEETS

AUGUST 31,
2008 FEBRUARY 29,
(UNAUDITED) 2008
--------- ---------

ASSETS

Cash ........................................... $ 29,539 $ 20,823
Prepaid expenses ............................... -- 1,000
--------- ---------

TOTAL ASSETS .............................. $ 29,539 $ 21,823
========= =========

LIABILITIES

Accrued expenses ............................... $ 6,742 $ 3,737
Unearned revenue ............................... 50,000 25,000
Accrued interest - related party ............... 50 12
Loan payable - related party ................... 957 957
--------- ---------

TOTAL LIABILITIES ......................... 57,749 29,706

STOCKHOLDERS' DEFICIT

Common stock, par value $0.0001 per share
Authorized - 100,000,000 shares
Issued and outstanding - 1,599,750 shares
and 1,538,750 shares, respectively ........ 160 154
Additional paid-in capital ..................... 239,740 217,396
Deficit accumulated during the development stage (268,110) (225,433)
--------- ---------

TOTAL STOCKHOLDERS' DEFICIT ............... (28,210) (7,883)
--------- ---------

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 29,539 $ 21,823
========= =========

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

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
FOR THE PERIOD FROM DECEMBER 10, 2003
(DATE OF INCEPTION) TO AUGUST 31, 2008
(UNAUDITED)

FROM DECEMBER
FOR THE THREE FOR THE SIX 10, 2003
MONTHS ENDED MONTHS ENDED (DATE OF
-------------------------- -------------------------- INCEPTION)
AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31, TO AUGUST 31,
2008 2007 2008 2007 2008
----------- ----------- ----------- ----------- -----------

DEVELOPMENT STAGE EXPENSES

Selling, general and administrative .. $ 15,510 $ 15,346 $ 39,877 $ 35,238 $ 246,110
Research and development expense ..... -- -- 2,000 -- 13,000
Directors' fees, non-cash compensation -- -- -- -- 5,000
----------- ----------- ----------- ----------- -----------

TOTAL DEVELOPMENT STAGE EXPENSES . 15,510 15,346 41,877 35,238 264,110
----------- ----------- ----------- ----------- -----------

(LOSS) BEFORE INCOME TAXES ................ (15,510) (15,346) (41,877) (353,238) (264,110)

Income tax expense ................... -- -- 800 800 4,000
----------- ----------- ----------- ----------- -----------

NET (LOSS) ................................ $ (15,510) $ (15,346) $ (42,677) $ (36,038) $ (268,110)
=========== =========== =========== =========== ===========

NET (LOSS) PER COMMON SHARE

Basic and diluted .................... $ (0.01) $ (0.01) $ (0.03) $ (0.03) $ (0.20)
=========== =========== =========== =========== ===========

WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING

Basic and diluted .................... 1,599,750 1,414,908 1,595,837 1,387,402 1,356,413
=========== =========== =========== =========== ===========

DEFICIT
ACCUMULATED TOTAL
COMMON STOCK ADDITIONAL DURING THE STOCKHOLDERS'
--------------------------- PAID-IN DEVELOPMENT EQUITY
SHARES AMOUNT CAPITAL STAGE (DEFICIT)
------------ ------------ ------------ ------------ ------------

Issuance of common stock for
cash - January 9, 2005 . 1,000,000 $ 100 $ 9,900 $ -- $ 10,000

Issuance of common stock for
directors' fees -
January 9, 2005 ........ 50,000 5 4,995 -- 5,000

Issuance of common stock for
loan commitment -
related party -
February 16, 2005 ...... 190,000 19 18,981 -- 19,000

Issuance of common stock for
screenplay options -
February 28, 2005 ...... 10,000 1 999 -- 1,000

Net (loss) for the year ended
February 28, 2005 ...... -- -- -- (5,852) (5,852)
------------ ------------ ------------ ------------ ------------

Balance, February 28, 2005 .. 1,250,000 $ 125 $ 34,875 $ (5,852) $ 29,148
------------ ------------ ------------ ------------ ------------

Contributed services ........ -- -- 41,600 -- 41,600

Net (loss) for the year ended
February 28, 2006 ...... -- -- -- (78,776) (78,776)
------------ ------------ ------------ ------------ ------------

Balance, February 28, 2006 .. 1,250,000 $ 125 $ 76,475 $ (84,628) $ (8,028)
------------ ------------ ------------ ------------ ------------

Issuance of common stock for
cash ................... 102,750 10 20,540 -- 20,550

Contributed services ........ -- -- 41,600 -- 41,600

Net (loss) for the year ended
February 28, 2007 ...... -- -- -- (65,231) (65,231)
------------ ------------ ------------ ------------ ------------

Balance, February 28, 2007 .. 1,352,750 $ 135 $ 138,615 $ (149,859) $ (11,109)
------------ ------------ ------------ ------------ ------------

Issuance of common stock for
cash ................... 186,000 19 37,181 -- 37,200

Contributed services ........ -- -- 41,600 -- 41,600

Net (loss) for the year
ended February 29, 2008 -- -- -- (75,574) (75,574)
------------ ------------ ------------ ------------ ------------

Balance, February 29, 2008 .. 1,538,750 154 217,396 (225,433) (7,883)
------------ ------------ ------------ ------------ ------------

Issuance of common stock for
cash ................... 61,000 6 12,194 -- 12,200

Contributed services ........ -- -- 10,150 -- 10,150

Net (loss) for the six months
ended August 31, 2008 .. -- -- -- (42,677) (42,677)
------------ ------------ ------------ ------------ ------------

Balance, August 31, 2008 .... 1,599,750 $ 160 $ 239,740 $ (268,110) $ (28,210)
============ ============ ============ ============ ============

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)

FROM DECEMBER
FOR THE SIX 10, 2003
MONTHS ENDED (DATE OF
-------------------------- INCEPTION)
AUGUST 31, AUGUST 31, TO AUGUST 31,
2008 2007 2008
----------- ----------- -----------

CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) ....................................... $ (42,677) $ (36,038) $ (268,110)
Adjustments to reconcile net (loss) to net cash
(used) by operating activities:
Common stock issued for directors' fees .... -- -- 5,000
Contributed services ....................... 10,150 20,800 134,950
Amortization expense ....................... -- -- 20,000
Changes in operating assets and liabilities:
Prepaid expenses ...................... 1,000 -- --
Accrued expenses ...................... 3,043 2,785 6,792
Unearned revenue ...................... 25,000 -- 50,000
----------- ----------- -----------

NET CASH (USED) BY OPERATING ACTIVITIES ....... (3,484) (12,453) (51,368)
----------- ----------- -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loan payable - related party ....... -- -- 11,500
Repayments on loan payable - related party ....... -- -- (10,543)
Proceeds from sale of common stock ............... 12,200 17,200 79,950
----------- ----------- -----------

NET CASH PROVIDED BY FINANCING ACTIVITIES ...... 12,200 17,200 80,907
----------- ----------- -----------

NET INCREASE (DECREASE) IN CASH ....................... 8,716 4,747 29,539

CASH AT THE BEGINNING OF THE PERIOD ................... 20,823 5,151 --
----------- ----------- -----------

CASH AT THE END OF THE PERIOD ......................... $ 29,539 $ 9,898 $ 29,539
=========== =========== ===========

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED STATEMENTS OF CASH FLOWS (CONTINUED)
(UNAUDITED)

FROM DECEMBER
FOR THE SIX 10, 2003
MONTHS ENDED (DATE OF
-------------------------- INCEPTION)
AUGUST 31, AUGUST 31, TO AUGUST 31,
2008 2007 2008
----------- ----------- -----------

SUPPLEMENTAL DISCLOSURE OF
CASH FLOW INFORMATION

Interest paid ............................... $ -- $ -- $ --
Taxes paid .................................. $ 800 $ 800 $ 3,371

SCHEDULE OF NON-CASH INVESTING AND
FINANCING ACTIVITIES:

Issuance of 50,000 shares of common stock for
directors' fees ............................. $ -- $ -- $ 5,000

Issuance of 190,000 shares of common stock
for loan commitment ......................... $ -- $ -- $ 19,000

Issuance of 10,000 shares of common stock for
screenplay options .......................... $ -- $ -- $ 1,000

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ORGANIZATION AND NATURE OF BUSINESS

Futura Pictures, Inc. (the "Company") was incorporated under the laws
of the state of Delaware on December 10, 2003. The Company was formed
to engage in the production and the co-financing of motion pictures
whose production budgets are estimated to range between $500,000 and
$1,500,000, produced solely for the distribution directly to the
domestic and international home video markets.

PRESENTATION

The interim financial statements of the Company are condensed and do
not include some of the information necessary to obtain a complete
understanding of the financial data. Management believes that all
adjustments (consisting of only normal recurring adjustments, unless
otherwise noted) necessary for a fair presentation of results have been
included in the unaudited financial statements for the interim period
presented. Operating results for the six months ended August 31, 2008
are not necessarily indicative of the results that may be expected for
the year ended February 28, 2009. Accordingly, your attention is
directed to footnote disclosures found in the February 29, 2008 Annual
Report and particularly to Note 1, which includes a summary of
significant accounting policies.

UNCLASSIFIED BALANCE SHEET

In accordance with the provisions of AICPA Statement of Position 00-2,
"ACCOUNTING BY PRODUCERS OR DISTRIBUTORS OF FILMS", the Company has
elected to present an unclassified balance sheet.

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 certain estimates and assumptions that affect the
reported amounts and timing of revenues and expenses, the reported
amounts and classification of assets and liabilities, and the
disclosure of contingent assets and liabilities. These estimates and
assumptions are

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED NOTES TO FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)

based on the Company's historical results as well as management's
future expectations. The Company's actual results could vary materially
from management's estimates and assumptions.

RECENT PRONOUNCEMENTS

In May 2008, the FASB issued SFAS No. 162, "The Hierarchy of Generally
Accepted Accounting Principles" ("SFAS No. 162"). SFAS No. 162
identifies the sources of accounting principles and the framework for
selecting the principles to be used in the preparation of financial
statements presented in conformity with generally accepted accounting
principles in the United States of America. SFAS No. 162 will be
effective 60 days following the SEC's approval of the Public Company
Accounting Oversight Board (PCAOB) amendments to AU Section 411, "The
Meaning of, Present fairly in conformity with generally accepted
accounting principles". The Company does not believe the implementation
of SFAS No. 162 will have a material impact on its consolidated
financial statements.

In February 2007, the FASB issued SFAS No. 159, "The Fair Value Option
for Financial Assets and Financial Liabilities," which permits entities
to choose to measure many financial instruments and certain other items
at fair value. SFAS No. 159 also includes an amendment to SFAS No. 115,
"Accounting for Certain Investments in Debt and Equity Securities"
which applies to all entities with available-for-sale and trading
securities. This Statement is effective as of the beginning of an
entity's first fiscal year that begins after November 15, 2007. The
Company's adoption of SFAS No. 159 did not have a material impact on
its consolidated financial statements.

In September 2006, the FASB issued SFAS No. 157, "Fair Value
Measurements." The Statement defines fair value, establishes a
framework for measuring fair value in generally accepted accounting
principles and expands disclosures about fair value measurements, and
does not require any new fair value measurements. This Statement
applies under other accounting pronouncements that require or permit
fair value measurements. The Statement is effective for the fiscal
years beginning after November 15, 2007. The Company adopted the
provisions of SFAS No. 157 for the financial assets and liabilities
recognized at fair value on a recurring and non-recurring basis
effective March 1, 2008. FSP No. 157-2 delays the effective date of FAS
Statement No. 157 for nonfinancial assets and nonfinancial liabilities.

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED NOTES TO FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)

The adoption of SFAS No. 157 did not have a material impact on the
Company's consolidated financial statements.

NOTE 2 SIGNIFICANT UNCERTAINTY REGARDING THE COMPANY'S ABILITY TO CONTINUE AS
A GOING CONCERN AND MANAGEMENT PLANS

The accompanying financial statements have been prepared on a going
concern basis, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business. The
Company's current financial resources are not considered adequate to
fund its planned operations. This condition raises substantial doubt
about its ability to continue as a going concern. The accompanying
financial statements do not include any adjustments relating to the
recoverability and classification of recorded asset amounts or the
amounts and classification of liabilities that might be necessary
should the Company be unable to continue as a going concern.

The Company's continuation as a going concern currently is dependent
upon timely procuring significant external debt and/or equity financing
to fund its immediate and near-term operations, and subsequently
realizing operating cash flows from sales of its film products
sufficient to sustain its longer-term operations and growth
initiatives, including its desired marketing and new potential film
screenplays.

NOTE 3 DEVELOPMENT STAGE OPERATIONS

As of August 31, 2008, the Company was in the development stage of
operations. According to the Financial Accounting Standards Board of
the Financial Accounting Foundation, a development stage Company is
defined as a company that devotes most of its activities to
establishing a new business activity. In addition, planned principal
activities have not commenced, or have commenced and have not yet
produced significant revenue.

NOTE 4 UNEARNED REVENUE

On December 27, 2007, the Company entered into a Production Agreement
(the "Agreement") with the Hathaway Group to develop and produce a one
hour television documentary (the "Project"). The material terms of the

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED NOTES TO FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)

Agreement are: (a) the Company will receive $150,000 as total
compensation for writing, shooting, producing, editing, and in all
respects completing the Project in accordance with standard television
broadcast specifications; (b) upon signing the Agreement, the Company
received the initial payment of $25,000 (recorded as Deferred Revenue
in the accompanying balance sheet), with the balance to be paid in
accordance with the Agreement's materials delivery schedule; (c) the
Company shall supervise and be responsible for the entire production
work, and shall arrange and pay for all materials and labor required to
complete the Project; and, (d) the Company shall submit a script for
the Project no later than June 30, 2008, for review and approval, and
complete the Project no later than December 31, 2008. During June 2008,
the Company submitted the script to the Hathaway Group in accordance
with the Agreement and received an additional $25,000 payment in July
2008.

NOTE 5 RELATED PARTY TRANSACTION

LOAN COMMITMENT

On February 16, 2005, the Company's President, Buddy Young, accepted an
unsecured promissory note from the Company and agreed to lend up to
$100,000 to the Company to fund any cash shortfalls through December
31, 2008. The note bears interest at 8% and is due upon demand, no
later than June 30, 2009. The outstanding balance was $957 as of August
31, 2008.

CONSULTING AGREEMENT

During September 2007, the Company entered into a consulting agreement
with Calvin Young, brother to the Company's President, Buddy Young,
whereby Calvin Young provides the Company consulting services in
relation to the research and development of new documentaries. Per the
agreement, the Company paid Calvin Young $2,000 per month and the term
is six months. For the six months ended August 31, 2008, the Company's
expense was $2,000 under this agreement.

NOTE 6 STOCKHOLDERS' DEFICIT

For the six months ended August 31, 2008 and 2007, the Company's
President devoted time to the development process of the Company.

FUTURA PICTURES, INC.
(A DEVELOPMENT STAGE COMPANY)
CONDENSED NOTES TO FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)

Compensation expense totaling $20,800 has been recorded in each period.
Of this amount, the President was paid $10,650 and $-0- during the six
months ended August 31, 2008 and 2007, respectively. The President has
waived reimbursement of $10,150 and $20,800 during the six months ended
August 31, 2008 and 2007, respectively.

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

You should read this section together with our financial statements and
related notes thereto included elsewhere in this report. In addition to the
historical information contained herein, this report contains forward-looking
statements that are subject to risks and uncertainties. Forward-looking
statements are not based on historical information but relate to future
operations, strategies, financial results or other developments. Forward-looking
statements are necessarily based upon estimates and assumptions that are
inherently subject to significant business, economic and competitive
uncertainties and contingencies, many of which are beyond our control and many
of which, with respect to future business decisions, are subject to change.
Certain statements contained in this Form 10, including, without limitation,
statements containing the words "believe," "anticipate," "estimate," "expect,"
"are of the opinion that" and words of similar import, constitute
"forward-looking statements." You should not place any undue reliance on these
forward-looking statements.

You should be aware that our results from operations could materially
be effected by a number of factors, which include, but are not limited to the
following: economic and business conditions specific to the motion picture,
television, and home video industries; competition from other producers of home
video content; and television documentaries, our ability to control costs and
expenses, access to capital, and our ability to meet contractual obligations.
There may be other factors not mentioned above or included elsewhere in this
report that may cause actual results to differ materially from any
forward-looking information.

CRITICAL ACCOUNTING POLICIES

Our discussion and analysis of our financial condition and results of
operations are based upon our statements, which have been prepared in accordance
with accounting principles generally accepted in the United States. The
preparation of these financial statements requires us to make estimates and
judgments that affect the reported amounts of assets, liabilities, revenues and
expenses. In consultation with our Board of Directors, we have identified two
accounting policies that we believe are key to an understanding of our financial
statements. These are important accounting policies that require management's
most difficult, subjective judgment.

GOING CONCERN. The accompanying financial statements have been prepared
on a going concern basis, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business. The Company's
current financial resources are not considered adequate to fund its planned
operations. This condition raises substantial doubt about its ability to
continue as a going concern. The accompanying financial statements do not
include any adjustments relating to the recoverability and classification of
recorded asset amounts or the amounts and classification of liabilities that
might be necessary should the Company be unable to continue as a going concern.

The Company's continuation as a going concern currently is dependent
upon timely procuring significant external debt and/or equity financing to fund
its immediate and near-term operations, and subsequently realizing operating
cash flows from sales of its film products sufficient to sustain its longer-term
operations and growth initiatives, including its desired marketing and new
potential film screenplays.

NON-CASH EQUITY ISSUANCES. We periodically issue shares of our common
stock in exchange for, or in settlement of, services. Our management values the
shares issued in such transactions at either the then market value of our common
stock, as determined by the Board of Directors and after taking into
consideration factors such as the volume of shares issued or trading
restrictions, or the value of the services received, whichever is more readily
determinable.

SELECT FINANCIAL INFORMATION

FOR THE THREE FOR THE SIX
MONTHS ENDED MONTHS ENDED
-------------------------- --------------------------
AUGUST 31, AUGUST 31, AUGUST 31, AUGUST 31,
2008 2007 2008 2007
----------- ----------- ----------- -----------

Statement of Operations Data

Total Revenue .................. $ -- $ -- $ -- $ --
Operating Loss ................. $ (15,510) $ (15,346) $ (41,877) $ (35,238)
Net loss after taxes ........... $ (15,510) $ (15,346) $ (42,677) $ (36,038)
Net loss per share ............. $ (0.01) $ (0.01) $ (0.03) $ (0.03)

Balance Sheet Data

Total assets ................... $ 29,539 $ 9,898 $ 29,539 $ 9,898
Total liabilities .............. $ 57,749 $ 19,045 $ 57,749 $ 19,045
Stockholders' equity (deficit) . $ (28,210) $ (9,147) $ (28,210) $ (9,147)

THREE-MONTH PERIOD ENDED AUGUST 31, 2008 COMPARED TO THREE-MONTH PERIOD ENDED
AUGUST 31, 2007

GENERAL

The Company was incorporated on December 10, 2003. We had no operations
until fiscal 2005. On January 19, 2005 we acquired an option on a screenplay
entitled CASS & KARRI, written by Don Tsuchiyama. The plot revolves around two
mismatched young women, both accomplished thieves, who are hired to steal a
high-tech "invisibility" suit. The intrigue is whether the people who hired them
are the good guys they claim to be or is something far more devious and
dangerous behind this caper? The two women, despite mutual disgust for each
other, need to figure it out to save their skins.

Additionally, on January 24, 2005 we acquired an option on a screenplay
entitled LIFE-DOT-COM, written by Frank Gillman. The sci-fi comedy plot revolves
around a brilliantly-creative but workaholic young woman who is the writer of
several internet-broadcast interactive "television" shows, all big hits. A freak
power surge, along with the perfect alignment of the planets, zaps her into her
own shows, trapped in the world of the characters she has created. The only way
out is to find the balance that's been missing in her life. Both options remain
in force pursuant to extensions granted to the Company.

On December 27, 2007, we entered into a Production Agreement with the
Hathaway Group to develop and produce a one hour television documentary. The
material terms of the Agreement are: (a) we will receive $150,000 as total
compensation for writing, shooting, producing, editing, and in all respects
completing the documentary in accordance with standard television broadcast
specifications; (b) upon signing the Agreement, the Company received the initial
payment of $25,000, and in July 2008 received a second payment of $25,000
(recorded as Deferred Revenue in the accompanying balance sheet), with the
balance to be paid in accordance with the Agreement's materials delivery
schedule; (c) The Company shall supervise and be responsible for the entire
production work, and shall arrange and pay for all materials and labor required
to complete the documentary by December 31, 2008.

REVENUES

Since our inception in 2003, we have had no revenues from operations.

EXPENSES

To date, our expenses have consisted mainly of general and
administrative expenses. The main components being contributed services,
professional services and the amortization of our loan commitment fee. During
the three month period ended August 31, 2008, we incurred a total of $15,510
general and administrative expenses. This consisted of $5,000 of contributed
services by our CEO, Buddy Young, $5,400 compensation expense for our CEO, Buddy
Young and $4,331 of professional fees incurred for our financial statements and
related filings. We valued the contributed services from Buddy Young at $100 per
hour. During the same period in 2007, we incurred a total of $15,346 general and
administrative expenses. This consisted primarily of $10,400 of contributed
services by our CEO, Buddy Young, $3,410 of professional fees incurred for our
audited financial statements and related filings.

SIX-MONTH PERIOD ENDED AUGUST 31, 2008 COMPARED TO SIX-MONTH PERIOD ENDED AUGUST
31, 2007

EXPENSES

To date, our expenses have consisted mainly of general and
administrative expenses. The main components being contributed services,
professional services and the amortization of our loan commitment fee. During
the six month period ended August 31, 2008, we incurred a total of $41,877
general and administrative expenses. This consisted of $10,150 of contributed
services by our CEO, Buddy Young, $10,650 of compensation expense paid to our
CEO, Buddy Young and $13,529 of professional fees incurred for our financial
statements and related filings. We valued the contributed services from Buddy
Young at $100 per hour. During the same period in 2007, we incurred a total of
$35,238 general and administrative expenses. This consisted primarily of $20,800
of contributed services by our CEO, Buddy Young, $11,564 of professional fees
incurred for our audited financial statements and related filings.

While we cannot guarantee the level of our expenses in the future, we
anticipate them to increase as we fulfill our contractual requirement related to
the television documentary production.

PLAN OF OPERATION

During the past twelve months, our main activities were focused on
raising funds through the sale of equity, or other traditional borrowing sources
in order to enable us to begin production on one of the above referenced
projects. Additionally, in an effort to generate revenue from operations during
fiscal 2009, and to help establish the Company within the motion picture
industry, management obtained an agreement to produce a one hour television
documentary During the next twelve months our efforts will continue to be
focused on raising the funds required to develop and produce the screenplays
that we have optioned, as well as enabling us to take advantage of business
opportunities that may arise during the normal course of business. Such
opportunities may include the optioning and development of additional scripts
and participating in the co-financing of films produced by other companies.
There is no assurance that any such opportunities will arise, nor whether we
will have the funds available to us that will be sufficient to allow us to
capitalize on them.

In addition to our fund raising efforts we will focus our activities on
completing the television documentary in accordance with the provisions
contained in the production agreement referred to above. Among others, these
activities include: (a) completing the documentary script, (b) locating and
obtaining related archival film and photographs, (c) casting and filming the
on-camera host, (d) editing and sound mixing, and (e) completing post production
to comply with domestic and foreign television broadcast standards.

If during the next twelve months we are unable to raise the funds
through the sale of additional equity, or from traditional borrowing sources
necessary to begin production on either of the screenplays, we may be forced to
scale back our operations, or to totally abandon that part of our business plan
and seek other business opportunities in a related or unrelated industry.
However, if we are successful in raising sufficient funds, our principal
activities following the receipt of the funds will be as follows: (a) exercise
our option to acquire the rights to one of the aforementioned scripts, (b)
prepare a production budget for that film, (c) hire a director, (d) retain the
services of a production company to assemble the production crew, (e) cast the
film, (f) choose a location, (g) begin principal photography,(h) complete the
post production process, and (i) arrange for the films distribution.

We anticipate that cash obtained as a result of the sale of equity, or
funds available from traditional borrowing sources, the funds provided to us by
our president and principal shareholder, under a promissory note dated February
16, 2005, as amended, and funds received as a result of the aforementioned
television documentary agreement will be sufficient to fund our cash
requirements to continue our efforts as outlined above. As we cannot predict
whether we will be successful in raising sufficient funds, we cannot predict
whether we will ever be able to implement our plan of producing or co-financing
motion pictures.

In 2005 we issued 10,000 shares of our common stock to each of our
directors and executive officers, excluding Buddy Young, our president and
principal shareholder, for services to the Company. These services include
advice on the development of our business plan, introduction to motion picture
production and distribution personnel, and handling negotiations with industry
personnel. We do not have any consulting or employment agreements with any of
our officers or directors.

In February 2005, the Company issued to our president, Buddy Young,
190,000 shares of our common stock as compensation for his agreement to lend up
to $100,000 to the Company to fund any cash shortfalls. The note bears interest
at 8% and is due no later than June 30, 2009. As of August 31, 2008, the balance
owing on this agreement was $957. Except for the shares indicated here, no other
shares have been issued to any person or entity for services rendered to the
Company.

EMPLOYEES

Due to our very limited financial resources, the Company's President,
Buddy Young, along with Joseph Adelman, and Mel Powell, our Director of
acquisitions, work on a part-time basis. Other than Mr. Young, no employee has
received cash compensation from the Company. We have no other full-time or
part-time employees. Additionally, we regularly utilize the services of
independent firms to handle our accounting and certain administrative matters.
If and when our capital resource permits, we will hire full-time professional
and administrative employees.

LIQUIDITY AND CAPITAL RESOURCES

We are a development stage company with no operating history.

We had a cash balance of $29,539 on August 31, 2008. Other than funds
received pursuant to the above mentioned documentary production agreement, at
this time, our only other known cash resource comes from the sale of equity, and
an agreement with our President and majority shareholder to fund any shortfall
in cash flow up to $100,000 at 8% interest through December 31, 2008. As of
August 31, 2008 the balance owing on this agreement is $957. Payment of
principal and interest is due on this loan on June 30, 2009.

We believe the raising of funds through the sale of equity and further
borrowings from our President will be sufficient to satisfy our budgeted cash
requirements through fiscal 2008. Further, our ability to pursue any business
opportunity that requires us to make cash payments would also depend on the
amount of funds that we can secure from these various sources.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Based on the nature of our current operations, we have not identified
any issues of market risk at this time.

ITEM 4. CONTROLS AND PROCEDURES

The principal executive officer and principal financial officer of the
Company, who are the same person ("the Certifying Officer") with the assistance
of advisors, evaluated the effectiveness of the design and operation of the
Company's disclosure controls and procedures (as defined in section
240.13a-14(c) and 240.15d-14(c) under the Exchange Act) within 90 days prior to
the filing of this report. Based upon the evaluation, the Certifying Officer
concludes that the Company's disclosure controls and procedures are effective in
timely alerting management to material information relative to the Company which
is required to be disclosed in its periodic filings with the SEC.

There were no significant changes in the Company's internal controls or in other
factors that could significantly affect these controls subsequent to the date of
their evaluation, including any corrective actions with regard to significant
deficiencies and material weaknesses.

PART II
OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS None.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
During the quarter ended August 31, 2008, no matters were submitted to
the Company's security holders.

ITEM 5. OTHER INFORMATION None.

ITEM 6. EXHIBITS

31.1 Certification of CEO Pursuant to Securities Exchange Act Rules
13a-14 and 15d-14, as Adopted Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.

32.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted
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.

FUTURA PICTURES, INC.
(Registrant)

Dated: October xx, 2008 /S/ BUDDY YOUNG
--------------------------------
Buddy Young, President and Chief
Executive Officer