UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Second Amended 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 December 31, 2007

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from to

Commission file number 000-50898

_____________FalconTarget, Inc._____________

(Exact name of small business issuer as specified in its charter)

Delaware	34-1996523
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

260 Water St #3C, Brooklyn, NY 11201

(Address of principal executive offices) (Zip Code)

Issuer’s telephone number ( 202 ) 294-8887_________________________

None

(Former name, former address and former fiscal year, if changed since last report)

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 preceding 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 large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the 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 company [X]

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 stock, as of the latest practicable date: As of September 30, 2008: 22,000,000 shares of common stock $0.00001 par value. No shares of preferred stock.

Transitional Small Business Disclosure Format (Check one): Yes [ ] No[X]

Page 1

Table of Contents

Part I – Financial Information	3
Item 1. Financial Statements.	3
Item 2. Management’s Discussion and Analysis.	7
Item 3. Quantitative and Qualitative Disclosures About Market Risk.	8
Item 4. Controls and Procedures.	9
Item 4T. Controls and Procedures.	10
PART II	10
Item 1. Legal Proceedings.	10
Item 1A. Risk Factors.	10
Item 2. Changes in Securities and Use of Proceeds.	10
Item 3. Defaults Upon Senior Securities.	10
Item 4. Submission of Matters to a Vote of Security Holders.	10
Item 5. Other Information.	10

Forward Looking Statements

In this filing references to "FalconTarget," "we," "us," and "our" refer to FalconTarget, Inc. of Delaware.

This Form 10-QSB contains certain forward-looking statements. For this purpose any statements contained in this Form 10-QSB that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "estimate" or "continue" or comparable terminology are intended to identify forward-looking statements. By their nature these statements involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within our control. These factors include but are not limited to economic conditions generally and in the industries in which we may participate; competition within our chosen industry, including competition from much larger competitors; technological advances and failure by us to successfully develop business relationships or consummate a business transaction, as defined below.

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Part I – Financial Information

Item 1. Financial Statements.

FALCONTARGET INC.
A DEVELOPMENT STAGE COMPANY
BALANCE SHEET
SEPTEMBER 30, 2008 AND JUNE 30, 2008

ASSETS

CURRENT ASSETS:	September 30, 2008 (unaudited)	June 30, 2008 (audited)
CASH	$ 88	$ 88
TOTAL CURRENT ASSETS	88	88

TOAL ASSETS:	$ 88	$ 88

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
ACCOUNTS PAYABLE	$ 0	$ 0
TOTAL CURRENT LIABILITIES	0	0

LONG-TERM DEBT, NET OF CURRENT PORTION:
LOAN FROM SHAREHOLDERS	3,114	3,114
TOTAL LONG-TERM DEBT, NET OF CURRENT PORTION	3,114	3,114

STOCKHOLDERS' EQUITY:
COMMON STOCK, $0.000001 PAR VALUE; AUTHORIZED 100,000,000 SHARES; ISSUED AND OUTSTANDING: 22,000,000 SHARES @.000001	22	22
PAID-IN CAPITAL	78	78
ACCUMULATED DEFICIT DURING DEVELOPMENT STAGE	(3,126)	(3,126)
TOTAL STOCKHOLDERS' EQUITY	(3,026)	(3,026)

EARNINGS PER SHARE:
NET LOSS OF -1,370 AND 0; 22,000,000 WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	0	0
BASIC LOSS PER COMMON SHARE	$0	$(0)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 88	$ 88

SEE ACCOMPANYING NOTES

Page 3

FALCONTARGET INC.
A DEVELOPMENT STAGE COMPANY
STATEMENT OF INCOME (UNAUDITED)
PERIODS ENDED MARCH 31, 2008 AND MARCH 31, 2007

REVENUE	Three months through 9/30/2008	Three months through 9/30/2007	From inception to 9/30/2008
INCOME	0	0	0
TOTAL REVENUE	0	0	0

COST OF SALES	0	0	0
TOTAL COST OF SALES	0	0	0

GROSS PROFIT	0	0	0

EXPENSES
ACCOUNTING	0	0	2,760
AUDIT	0	0	0
BANK FEES	0	0	12
CORPORATE SEAL	0	0	0
DUES AND SUBSCRIPTIONS	0	0	164
FRANCHISE TAX	0	0	0
INCORPORATION	0	0	0
POSTAGE	0	0	2
PRINTING AND REPRODUCTION	0	0	3
STOCK CERTIFICATE	0	0	0
TAX	0	0	185

TOTAL EXPENSES	0	0	3,114

NET INCOME	0	0	(3,126)

CUMULATIVE REVENUES SINCE INCEPTION	0
CUMULATIVE EXPENSES SINCE INCEPTION	3,126

SEE ACCOMPANYING NOTES

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FALCONTARGET INC.
A DEVELOPMENT STAGE COMPANY
STATEMENT OF CASH FLOWS (UNAUDITED)
PERIODS ENDED DECEMBER 31, 2007 AND DECEMBER 31, 2006

	Three months through 3/31/2008	Three months through 3/31/2007	From inception to 3/31/2008
CASH FLOW FROM OPERATING ACTIVITIES
NET INCOME	0	0	(3,126)
ACCOUNTS PAYABLE	0	0	0
NET CASH PROVIDED BY (USED IN) OPERATIONS	0	0	(3,126)

CASH FLOW FROM INVESTING ACTIVITIES
USED FOR	0	0	0
NET CASH USED IN INVESTING	0	0	0

CASH FLOWS USED IN FINANCING ACTIVITIES
PROCEEDS FROM:
SHAREHOLDER'S LOAN	0	0	3,114
COMMON STOCK	0	0	100

USED FOR:
SHAREHOLDER'S LOAN	0	0	0
COMMON STOCK	0	0	0
NET CASH PROVIDED BY FINANCING	0	0	3,214
NET INCREASE (DECREASE) IN CASH	0	0	88

SUMMARY
CASH BALANCE AT END OF PERIOD	88	88	88
CASH BALANCE AT BEGINNING OF PERIOD	100	100	0

NET INCREASE (DECREASE) IN CASH	0	0	88

CUMULATIVE INFLOWS OF CASH SINCE INCEPTION			100
CUMULATIVE OUTFLOWS OF CASH SINCE INCEPTION			12

SEE ACCOMPANYING NOTES AND AUDITOR'S REPORT

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FalconTarget, Inc.
(A Development Stage Company)
Notes to Audited Financial Statements for the three months period ended September 30th, 2008

NOTE 1. Summary of significant Business and Accounting Policies

a. Organization

The Company started operating as a blank check company on May 28, 2004. On October 6, 2004, FalconTarget, Inc. (the “Company”) became a corporation by filing with the Delaware Secretary of State. The intent of the Company is to be a “blank check” company, or also referred to as a “shell” company. We shall be considered to be in the development stage because no business operations have commenced, and there has been no revenue. We believe that we will remain a development stage company until such time as significant revenues have been generated, which is not expected to happen until after we complete a Business Transaction.

b. Cash

As of the Date of the Audit, the Company has one bank account.

c. Inventory

As of the Date of the Audit, the Company has no Inventory.

d. Property and Equipment

As of the Date of the Audit, the Company has no Property and Equipment.

e. Current Liabilities

As of the Date of the Audit, the Company has no Current Liabilities.

f. Long Term Liabilities

The Company's Long Term Liability of Shareholder's Loan represents the money loaned by the Shareholders to the Company for the start-up costs of the corporation. This loan is non-interest bearing.

g. Loss Per Share

Loss per share amounts are based on the weighted average shares outstanding of 22,000,000 as of September 30, 2008 and 22,000,000 as of September 30, 2007.

h. Reclassification

Reclassification of expenses and liabilities occurred at the data entry level due to the categories set up by the Shareholder's who submitted the information. It has no effect on the balance of any one total account.

NOTE 2. Capitalization

The Company has authorized the issuance of 100,000,000 shares of common stock having $0.000001 par value. Of those authorized, 22,000,000 have been issued and are outstanding.

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NOTE 3. Statement of Income

As of the Date of the Audit, the Company has no Revenue or Cost of Sales. The expenses incurred as of the Date of the Audit are the start-up costs of the Company.

NOTE 4.

As of the Date of the Audit, the only activity affecting the Statement of Cash Flows were the start-up costs incurring the negative Net Income and the purchase of the Common Stock by the Shareholders giving the cash balance at the end of the period, as well as the ongoing costs of operating the blank check company. There are no payments for interest and income items.

NOTE 6. Going Concern

Due to the development stage of the Company and the substantial dependence on the success of a particular project, a “reverse merger”, the Company's chances for survival depend solely on the success of that “reverse merger”.

NOTE 7. Management Plans and Intentions (Unaudited)

As a “blank check” or “shell” company filing a Form 10-SB, the Company anticipates to engage in a reverse merger transaction with a private company, acquire assets or engage into other yet unspecified business or businesses. The term “reverse merger” refers to a transaction where a private company seeks public listing and becomes a publicly traded company.

Item 2. Management’s Discussion and Analysis.

We are a development-stage company with nominal assets only, and have had no operations since inception other than activities related to our formation and filing of registration statements. We have experienced operating losses since our inception and have not had any revenues.

We anticipate to continue to incur expenses in connection with required filings with the SEC, including accounting and audit fees and franchise taxes. We rely on the support of our shareholders, Mr. Serge Atlan and Mr. Thomas Kirchner, to advance these expenses on our behalf. We do not plan to raise additional capital through the sale of equity securities.

Our directors are seeking actively business transactions on our behalf. During the period covered by this report, discussions were held with one party that expressed an interest in a reverse merger with FalconTarget. At the time of filing of this report, our management is not certain whether these discussions will lead to a business transaction or whether the private company concerned will proceed with another transactions. Our directors continue to search for alternative business transactions. No specific opportunity has been identified for a Business Transaction, and our management currently has no forecast for when or whether such a transaction can be consummated. In the event that a Business Transaction is consummated, we expect to incur additional expenses related thereto. Our directors have no business opportunity available to us at this time, and will continue to seek suitable transactions.

Results of Operations

During the three months from June 30^th, 2008 through September 30^th, 2008, we have had no significant operations other than the filing of our quarterly report with the Securities and

Page 7

Exchange Commission. As a result of these operations we incurred a cumulative net loss of $3,126 since inception.

We are a “blank check” company, also often referred to as a “shell” company, whose purpose is to engage in a reverse merger transaction with a private company, acquire assets or engage into other yet unspecified business or businesses (a “Business Transaction”). Our business plan is to seek, investigate and, if such investigation warrants, acquire an interest in a business entity which desires to seek the perceived advantages of a corporation which has a class of securities registered under the Exchange Act. We will not restrict our search to any specific business, industry, or geographical location and we may participate in a business venture of virtually any kind or nature.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Because of the development stage-nature of FalconTarget, it is impossible to provide a quantitative risk assessment for our business. Below are the general operating risks we face as a going concern entity.

We Have Had Limited Operations to Date. Our primary focus has been preliminary steps toward negotiating a Business Transaction. We have not commenced commercial operations and have no revenues to date.

We Need to Obtain Financing in Order to Continue our Operations. We have relied on our directors and shareholders to pay our expenses on our behalf. We do not have sufficient revenue or resources to pay our expenses ourselves. Our auditors have a “going concern” about our ability to operate without the support of our shareholders.

Development Risks Generally. We are a developmental stage company. Securing financing and moving forward with a Business Transaction or other business plan involves greater risks and uncertainties than those associated with an established business. As such, there can be no assurance that we will successfully implement our business plan, commence commercial operations or, operate profitably.

Industry Risks. The success of our business may be affected by matters beyond our control, including but not limited to changes in technology, competition, changing market and/or economic conditions, all of which can impact upon market acceptance. No assurance can be given that any perceived need for our services is correct or if correct, will result in revenues to offset our operating expenses.

Risks Associated with Growth. Our development plans will require the implementation of operational and financial systems and will require additional management, operational, and financial resources. There can be no assurance that we will be able to manage our operations effectively. The failure to implement such systems and add such resources on a cost-effective basis could have a materially adverse effect on our results of operations and financial condition.

Competition. We will face competition from companies with substantially greater resources that ours.

Page 8

No Dividends. We have never paid dividends. We intend for the foreseeable future to retain earnings, if any, for the future operation and expansion of our business and do not anticipate paying dividends for the foreseeable future.

Absence of a Trading Market for our Common Stock. There are restrictions on transferability of our Common Stock. Shares of our Common Stock are not eligible for trading on any national or regional exchange, nor are they quoted on any over-the-counter market. As a result, an investment in our securities is highly illiquid. Unless the securities are registered with the Securities and Exchange Commission and any required state authorities, or an appropriate exemption from registration is available, you may be unable to liquidate or sell your Common Stock even though your personal financial situation may dictate such a liquidation or sale.

Key Person Dependency. The success of our business is and will be materially dependent upon the continued services of our current management. The loss of any member of our management team will adversely impact our operations. We do not presently have any key man life insurance on any of such persons.

Item 4. Controls and Procedures.

Our management believes that given our small size and limited operations, our disclosure controls and procedures are adequate. We have no formal procedures in place for processing and assembling information to be disclosed in our periodic reports. Our system is designed so that information is retained by us and relayed to our accountants. Our directors believe that as of the end of the period being reported, our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the required time periods. Further, we believe that, given the Company’s size and status as a blank check company with no operations, an extensive disclosure controls and procedures system is not necessary. At such time that a business transaction is consummated, our management will re-evaluate the disclosure controls and procedures.

We ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management including our Chief Executive Officer and Chief Financial Officer , as appropriate, to allow timely decisions regarding required disclosure based closely on the definition of “disclosure controls and procedures” in Rule 13a-14c. In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply judgment in evaluating the cost-benefit relationship of possible controls and procedures.

Page 9

During our evaluation as of June 30, 2008 three material weaknesses in our controls and procedures were identified. Management anticipates that these weaknesses will be corrected upon the consummation of a Business Transaction. We carried out an evaluation, under the supervision and with the participation of the our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. Based in the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective.

Item 4T. Controls and Procedures.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the fiscal quarter of this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II

Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors.

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.

None.

Item 5. Other Information.

None.

Page 10

Item 6. Exhibits and Reports on Form 8-K.

(a) Exhibit 31.1: Section 302 certification by Thomas Kirchner

Exhibit 31.2: Section 302 certification by Serge Atlan

Exhibit 32.1: Section 906 certification by Thomas Kirchner

Exhibit 32.2: Section 906 certification by Serge Atlan

(b) None.

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.

FalconTarget Corporation

By: /s/ SERGE ALTAN
Serge Atlan, Chairman
May 20, 2009

By: /s/ THOMAS KIRCHNER
Thomas Kirchner, CEO and Principal Financial Officer
May 20, 2009

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FalconTarget Inc. 10-Q/A