Plastinum Polymr - Preferred stock, par value $.01 per share;...

Plastinum Polymr - Recent Material Event

Item 1.	Financial Statements (Unaudited)
	Condensed Consolidated Balance Sheet
	Condensed Consolidated Statements of Losses
	Condensed Consolidated Statement of Stockholders’ Deficiency
	Condensed Consolidated Statements of Cash Flows
	Notes to Condensed Consolidated Financial Statements
Item 2.	Management’s Discussion and Analysis or Plan of Operation
Item 3.	Controls and Procedures

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.	Defaults Upon Senior Securities
Item 4.	Submission of Matters to a Vote of Security Holders
Item 5 .	Other Information
Item 6.	Exhibits

PLASTINUM POLYMER TECHNOLOGIES CORP.

(A Development Stage Company)

CONDENSED CONSOLIDATED BALANCE SHEET

SEPTEMBER 30, 2007

(Unaudited)

Assets

Current assets:
Cash	$	7,594

Total current assets		7,594

Advances receivable - parent		114,485

Total assets	$	122,079

Liabilities and deficiency in stockholders' equity

Current liabilities:

Accounts payable and accrued expenses:	$	383,667
Due to stockholder		672,335

Total current liabilities		1,056,002

Convertible notes payable, net of discount of $86,246		413,754

Total liabilities		1,469,756

Deficiency in stockholders' equity:

Preferred stock, par value $.01 per share; 10,000,000 shares authorized, none issued and outstanding		-
Common stock, par value $.01 per share; 250,000,000 shares authorized, 96,409,836 shares issued and outstanding		964,098
Additional paid-in capital		8,839,936
Other comprehensive income		(9,124	)
Accumulated deficit prior to development stage		(4,221,982	)
Deficit accumulated during the development stage		(6,920,605	)

Total deficiency in stockholders' equity		(1,347,677	)

Total liabilities and deficiency in stockholders' equity	$	122,079

See accompanying notes to these unaudited condensed consolidated financial statements.

PLASTINUM POLYMER TECHNOLOGIES CORP.

(A Development Stage Company)

CONDENSED CONSOLIDATED STATEMENTS OF LOSSES

(Unaudited)

													Cumulative Period from April 7, 2003 (date of inception as a development stage enterprise) to
	Three Months ended September 30,						Nine Months ended September 30,						September 30,


Operating expenses:
General and administrative expenses	$	438,300		$	517,867		$	1,130,493		$	997,378		$	4,485,195
Depreciation and amortization		-			-			-			-			107,790
Research and development		120,584			40,095			623,927			292,684			2,237,972

Total operating expenses		558,884			557,962			1,754,420			1,290,062			6,830,957

Loss from operations		(558,884	)		(557,962	)		(1,754,420	)		(1,290,062	)		(6,830,957	)

Interest expense and finance cost		(18,408	)		(16,496	)		(54,616	)		(16,496	)		(89,648	)

Loss before provisions for taxes		(577,292	)		(574,458	)		(1,809,036	)		(1,306,558	)		(6,920,605	)

Provision for income taxes		-			-			-			-			-

Net loss	$	(577,292	)	$	(574,458	)	$	(1,809,036	)	$	(1,306,558	)	$	(6,920,605	)

Net loss per common share, basic and diluted	$	(0.01	)	$	(0.01	)	$	(0.02	)	$	(0.03	)

Weighted average shares outstanding		95,728,249			52,698,997			85,103,075			51,158,648

Comprehensive loss: