Kranti September 30, 2008 10Q

Kranti Resources, Inc.

(An Exploration Stage Company)

Interim Statement of Changes in Stockholders’ Equity

For the Period of November 3, 2006 (Inception) to September 30, 2008


	Common Shares				Additional Paid-In		Deficit Accumulated During the Exploration		Total Stockholders’
	Shares		Amount		Capital		Stage		Equity

Balance - November 3, 2006 (Inception)	-	$	-	$	-	$	-	$	-

Common shares issued for cash at $0.01 per
share, November 20, 2006	500,000		500		4,500		-		5,000

Common shares issued for cash at $0.01
per share, December 13, 2006	2,500,000		2,500		22,500		-		25,000

Loss for the period	-		-		-		(1,944)		(1,944)

Balance - December 31, 2006	3,000,000		3,000		27,000		(1,944)		28,056

Common shares issued for cash at $0.04 per
share, August 29, 2007	1,387,500		1,388		54,112		-		55,500

Loss for the year	-		-		-		(55,960)		(55,960)

Balance – December 31, 2007	4,387,500		4,388		81,112		(57,904)		27,596

Loss for the period	-		-		-		(22,711)		(22,711)

Balance – September 30, 2008 (Unaudited)	4,387,500	$	4,388	$	81,112	$	(80,615)	$	4,885

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

Kranti Resources, Inc.

(An Exploration Stage Company)

Interim Statements of Cash Flows

(Unaudited)


						Cumulative
						From Inception
						(November 3,
						2006) to
		Nine Months Ended September 30,				September 30,
		2008		2007		2008

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(22,711)	$	(36,183)	$	(80,615)

Adjustments to reconcile net loss to
net cash used in operating activities:
Changes in operating assets and liabilities:
(Increase) Decrease in prepaid expenses		25		(3,230)		(470)
Increase (Decrease) in accounts payable		1,319		(1,275)		1,983
Net cash used in operating activities		(21,367)		(40,688)		(79,102)

CASH FLOWS FROM INVESTING ACTIVITIES
Net cash provided by (used in) investing activities		-		-		-

CASH FLOWS FROM FINANCING ACTIVITIES
Advance from related party		-		5,485		5,485
Issuance of common stock for cash		-		55,500		85,500
Net cash provided by financing activities		-		60,985		90,985

Net increase (decrease) in cash and cash equivalents		(21,367)		20,297		11,883

Cash and cash equivalents - beginning of period		33,250		24,986		-

Cash and cash equivalents - end of period	$	11,883	$	45,283	$	11,883

Supplemental Cash Flow Disclosure:
Cash paid for interest	$	-	$	-	$	-
Cash paid for income taxes	$	-	$	-	$	-

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

Kranti Resources, Inc.

(An Exploration Stage Company)

Notes to Interim Financial Statements

September 30, 2008

(Unaudited)

Organization

Kranti Resources, Inc. (the “Company”), an exploration stage company, was incorporated on November 3, 2006 in the State of Nevada, U.S.A. It is based in Vancouver, B.C. Canada. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is December 31.

The Company is an exploration stage company that engages primarily in the acquisition, exploration and development of resource properties. The Company has the right to conduct exploration work on one (1) mineral mining claim in Clinton Mining Division, British Columbia, Canada, and has not yet determined whether this property contains reserves that are economically recoverable. To date, the Company’s activities have been limited to its formation, the raising of equity capital, and its mining exploration work program.

Exploration Stage Company

The Company is considered to be in the exploration stage as defined in Statement of Financial Accounting Standards (SFAS) No. 7, “Accounting and Reporting by Development Stage Enterprises,” and interpreted by the Securities and Exchange Commission for mining companies in Industry Guide 7. The Company is devoting substantially all of its efforts to development of business plans and the exploration of mineral properties.

Significant Accounting Policies

Use of Estimates

The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $11,883 and $33,250 in cash and cash equivalents at September 30, 2008 and December 31, 2007, respectively.

Start-Up Costs

In accordance with the American Institute of Certified Public Accountant’s Statement of Position 98-5, “Reporting on the Costs of Start-up Activities,” the Company expenses all costs incurred in connection with the start-up and organization of the Company.

Kranti Resources, Inc.

(An Exploration Stage Company)

Notes to Interim Financial Statements

September 30, 2008

(Unaudited)

Significant Accounting Policies – Continued

Mineral Acquisition and Exploration Costs

The Company has been in the exploration stage since its formation on November 3, 2006 and has not yet realized any revenue from its planned operations. It is primarily engaged in the acquisition, exploration, and development of mining properties. Mineral property acquisition and exploration costs are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserves.

Net Income or (Loss) Per Share of Common Stock

The Company has adopted Financial Accounting Standards Board (“FASB”) Statement Number 128, “Earnings per Share,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period.

The following table sets forth the computation of basic and diluted earnings per share:



			Three Months Ended September 30,				Nine Months Ended September 30,
			2008		2007		2008		2007

Net loss		$	(2,465)	$	(5,461)	$	(22,711)	$	(36,183)

Weighted average common
shares outstanding (Basic)			4,387,500		3,583,929		4,387,500		3,195,358
	Options		-		-		-		-
	Warrants		-		-		-		-
Weighted average common
shares outstanding (Diluted)			4,387,500		3,583,929		4,387,500		3,195,358

Net loss per share (Basic
and Diluted)		$	(0.00)	$	(0.00)	$	(0.01)	$	(0.01)

The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding.

Kranti Resources, Inc.

(An Exploration Stage Company)

Notes to Interim Financial Statements

September 30, 2008

(Unaudited)

Significant Accounting Policies - Continued

Concentrations of Credit Risk

The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.

Foreign Currency Translations

The Company’s functional currency is the Canadian dollar. The Company’s reporting currency is the U.S. dollar. All transactions initiated in Canadian dollars are translated into U.S. dollars in accordance with SFAS No. 52, "Foreign Currency Translation" as follows:

Monetary assets and liabilities at the rate of exchange in effect at the balance sheet date.

ii)

Equity at historical rates.

iii)

Revenue and expense items at the average rate of exchange prevailing during the period.

Adjustments arising from such translations are deferred until realization and are included as a separate component of stockholders’ equity as a component of comprehensive income or loss. Therefore, translation adjustments are not included in determining net income (loss) but reported as other comprehensive income.

For foreign currency transactions, the Company translates these amounts to the Company’s functional currency at the exchange rate effective on the invoice date. If the exchange rate changes between the time of purchase and the time actual payment is made, a foreign exchange transaction gain or loss results which is included in determining net income for the period.

No significant realized exchange gain or losses were recorded from inception (November 3, 2006) to September 30, 2008.

Recent Accounting Pronouncements

In May 2008, FASB issued Financial Accounting Standards No. 163, “Accounting for Financial Guarantee Insurance Contracts - an interpretation of FASB Statement No. 60.” Diversity exists in practice in accounting for financial guarantee insurance contracts by insurance enterprises under FASB Statement No. 60, “Accounting and Reporting by Insurance Enterprises.” That diversity results in inconsistencies in the recognition and measurement of claim liabilities because of differing views about when a loss has been incurred under FASB Statement No. 5, “Accounting for Contingencies.” This Statement requires that an insurance enterprise recognize a claim liability prior to an event of default (insured event) when there is evidence that credit deterioration has occurred in an insured financial obligation. This Statement also clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and measurement to be used to account for premium revenue and claim liabilities.

Kranti Resources, Inc.

(An Exploration Stage Company)

Notes to Interim Financial Statements

September 30, 2008

(Unaudited)

Significant Accounting Policies - Continued

Recent Accounting Pronouncements – Continued

Those clarifications will increase comparability in financial reporting of financial guarantee insurance contracts by insurance enterprises. This Statement requires expanded disclosures about financial guarantee insurance contracts. The accounting and disclosure requirements of the Statement will improve the quality of information provided to users of financial statements. This Statement is effective for financial statements issued for fiscal years beginning after December 15, 2008, and all interim periods within those fiscal years.

In May 2008, FASB issued Financial Accounting Standards No. 162, “The Hierarchy of Generally Accepted Accounting Principles.” This Statement identifies the sources of accounting principles and the framework for selecting the principles to be used in the preparation of financial statements of nongovernmental entities that are presented in conformity with generally accepted accounting principles (GAAP) in the United States (the GAAP hierarchy). This Statement is effective 60 days following the SEC's approval of the Public Company Accounting Oversight Board amendments to AU Section 411, The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles.

In March 2008, FASB issued Financial Accounting Standards No. 161, “Disclosure about Derivative Instruments and Hedging Activities - an amendment to FASB Statement No. 133.” The use and complexity of derivative instruments and hedging activities have increased significantly over the past several years. Constituents have expressed concerns that the existing disclosure requirements in FASB Statement No. 133, “Accounting for Derivative Instruments and Hedging Activities,” do not provide adequate information about how derivative and hedging activities affect an entity's financial position, financial performance, and cash flows. Accordingly, this Statement requires enhanced disclosures about an entity's derivative and hedging activities and thereby improves the transparency of financial reporting. This Statement is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008.

In December 2007, FASB issued Financial Accounting Standards No. 160, “Noncontrolling Interests in Consolidated Financial Statements - an amendment of ARB No. 51.” This statement amends ARB No. 51 to improve the relevance, comparability, and transparency of the financial information that a reporting entity provides in its consolidated financial statements by establishing accounting and reporting standards of the portion of equity in a subsidiary not attributable, directly or indirectly, to a parent. SFAS 160 is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009, for entities with calendar year-ends).

In December 2007, FASB issued a revision to Financial Accounting Standards No. 141 (revised 2007), “Business Combinations.” The objective of this Statement is to improve the relevance, representational faithfulness, and comparability of the information that a reporting entity provides in its financial reports about a business combination and its effects. This Statement applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008.

None of the above new pronouncements has current application to the Company, but will be implemented in the Company’s future financial reporting when applicable.

Kranti Resources, Inc.

(An Exploration Stage Company)

Notes to Interim Financial Statements

September 30, 2008

(Unaudited)

Stockholders’ Equity

Authorized Stock

The Company has authorized 100,000,000 common shares and 100,000,000 preferred shares, both with a par value of $0.001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought.

Share Issuances

Since inception (November 3, 2006), the Company has issued 3,000,000 common shares at $0.01 per share, and 1,387,500 common shares at $0.04 per share, resulting in total proceeds of $85,500 and 4,387,500 common shares issued and outstanding at September 30, 2008. Of these shares, 2,000,000 were issued to a director and former officer of the Company, 1,000,000 were issued to former directors of the Company, and 1,387,500 were issued to unaffiliated investors.

There are no preferred shares outstanding. The Company has no stock option plan, warrants or other dilutive securities.

Provision for Income Taxes

The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes. Deferred taxes are provided in the financial statements under SFAS No. 109 to give effect to the resulting temporary differences which may arise from differences in the bases of fixed assets, depreciation methods, allowances, and start-up costs based on the income taxes expected to be payable in future years. Minimal exploration stage deferred tax assets arising as a result of net operating loss carryforwards have been offset completely by a valuation allowance due to the uncertainty of their utilization in future periods. Operating loss carryforwards generated during the period from November 3, 2006 (date of inception) through September 30, 2008 of $80,615 will begin to expire in 2026. Accordingly, deferred tax assets of approximately $28,200 were offset by the valuation allowance, which increased by $7,900 and $12,700 during the nine months ended September 30, 2008 and 2007, respectively.

Mineral Property Costs

On January 18, 2007, the Company entered into an option to purchase agreement (the Agreement) to purchase an undivided interest in one (1) mining claim, consisting of 478.495 Hectares (1,182.362 Acres) on property located in the Clinton Mining District, British Columbia, Canada (the Property) for $20,000 USD. In addition to the property payment, the Company is required to incur $175,000 CAD (Canadian Dollars) of exploration work on the property over four years and to pay a 4% royalty on all mineral commodities sold from the property. This royalty is payable as follows:

A 2% royalty of Net Smelter Returns to Candorado Operating Company Ltd., which shall be reduced to 1% upon payment of $500,000 CAD and may be paid out in full and terminated upon payment of a further $500,000 CAD, at any time.

Kranti Resources, Inc.

(An Exploration Stage Company)

Notes to Interim Financial Statements

September 30, 2008

(Unaudited)

Mineral Property Costs - Continued

A 2% royalty of Net Smelter Returns to the property vendor, which shall be reduced to 1% upon payment of $1,000,000 CAD and may be paid out in full and terminated upon the payment of a further $1,000,000 CAD, at any time.

During October 2007, per the recommendation of a Geologist, the Company spent $14,290 CAD ($14,954 USD) on our work program. This expenditure is part of our required exploration work commitment. The program consisted of surveying a control grid, soil and rock chip sampling and geological mapping. An additional $10,776 USD in mining expenses was spent during the nine months ended September 30, 2008. The Company has met its obligation to spend at least $25,000 CAD in work program expenses on the property.

During the year ended December 31, 2007, the Company made total property payments of $20,000 USD as outlined by the Agreement.

The Company is also responsible for maintaining the mineral claim in good standing by paying all the necessary rents, taxes, and filing fees associated with the Property. As of September 30, 2008, the Company met these obligations.

Due to Related Party

As of September 30, 2008, the Company was obligated to a director, who is also an officer and stockholder, for a non-interest bearing demand loan with a balance of $5,485. The Company plans to pay the loan back as cash flows become available. Interest has not been imputed on these advances due to its immaterial impact on the financial statements.

Going Concern and Liquidity Considerations

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As at September 30, 2008, the Company had working capital of $4,885 and an accumulated deficit of $80,615. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months.

The ability of the Company to emerge from the exploration stage is dependent upon, among other things, obtaining additional financing to continue operations, explore and develop the mineral properties and the discovery, development and sale of ore reserves.

In response to these problems, management intends to raise additional funds through public or private placement offerings.

These factors, among others, raise substantial doubt about 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.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESUTS OF OPERATIONS

Results of Operations

We are an exploration stage corporation. We have generated no revenues (other than minimal interest income) since inception (November 3, 2006) and have incurred $80,985 in expenses through September 30, 2008.

The following table provides selected financial data about our company as of and for the period ended September 30, 2008.


		As at
Balance Sheet Data:		September 30, 2008

Cash	$	11,883
Total assets	$	12,353
Total liabilities	$	7,468
Stockholders' equity	$	4,885

Net cash provided by financing activities since inception through September 30, 2008, was $90,985, consisting of $30,000 raised from the sale of common shares to our three directors, $55,500 from the sale of shares through our SB-2 registration statement to non-affiliated individuals and $5,485 in loans from an officer and director of the Company.

Plan of Operations

The following plan of operation should be read in conjunction with our financial statements and the notes thereto included elsewhere in this report. Statements contained herein which are not historical facts are forward-looking statements, as that term is defined by the Private Securities Litigation Reform Act of 1995, including statements relating to our plans, objectives, expectations and intentions. Although we believe that the expectations reflected in such forward-looking statements are reasonable, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. We caution investors that any forward-looking statements made by us are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements. Such risks and uncertainties include, without limitation: established competitors who have substantially greater financial resources and operating histories, regulatory delays or denials, ability to compete as a start-up company in a highly competitive market, and access to sources of capital.

Kranti is a start-up, exploration stage mining company and has not yet generated or realized any revenues from its business operations.

Our auditors have issued a going concern opinion, on our December 31, 2007 audited financial statements, as filed in our Form 10-KSB (refer to note 7) on March 26, 2008. This means that there is substantial doubt that the Company can continue as an on-going business for the next twelve months unless it obtains additional capital. This is because the Company has not generated any revenues and no revenues are anticipated unless and until it begins removing and selling minerals. There is no assurance the Company will ever discover an economically viable deposit of ore or be able to extract any ore even if such a deposit is found. Accordingly, the Company must raise cash from sources other than the sale of minerals found on the Property. Our only other source for cash at this time is investments by others. We must raise cash to implement our project and stay in business. Since we raised $55,500 in our Offering, we believe it, together with the purchase of shares by the directors ($30,000 in share purchases), will last a minimum of twelve months.

We have used much of the above-mentioned funds to explore and maintain our resource property located in the Clinton Mining District, British Columbia Canada (“The Bradley Creek Claim”). We do not intend to acquire or dispose of any plant or significant equipment during the next twelve months.

Our exploration target is to find an ore body containing copper-gold or molybdenite. Our success depends upon finding mineralized material. This includes a determination by our geologists if the property contains reserves. We have retained Rick Henderson, of Hendex Exploration Services Ltd., to supervise the exploration work on the property.

Mineralized material is a mineralized body, which has been delineated by appropriate spaced drilling or underground sampling to support sufficient tonnage and average grade of metals to justify removal. If we do not find mineralized material or we cannot remove mineralized material, either because we do not have the money to do it or because it is not economically feasible to do it, we may cease operations.

The initial offering produced sufficient funds to pay for the 2007 exploration program and administration costs for the next 12 months. However, if the Company requires additional funds, we will try to raise additional funds from a second public offering, a private placement or loans.

The Company retained Rick Henderson, of Hendex Exploration Services Ltd., Prince George, British Columbia Canada, to do a work program based upon his recommendations in his report for the Bradley Creek Claim located in the Clinton Mining District, British Columbia Canada. Mr. Henderson recommended a program of detailed geological mapping and trenching. A total of approximately $14,954 was paid in September and November 2007. The program was started and completed in October 2007 and the samples were sent to be assayed by ACME Analytical Laboratories Ltd., 852 E. Hastings Street, Vancouver, B.C. Canada.

In April 2008, we filed with the Mineral Titles and extended our mineral claim until September 6, 2015.

Over the past twelve months, we have experienced difficulties in obtaining financing for our business. During this past quarter we have shifted some of our focus to investigating other business opportunities. These opportunities include possible acquisitions or joint venture arrangements in this and other industries. We can provide no assurance that these efforts in exploring possible acquisitions or joint venture arrangements will come to fruition. Additionally, if any new ventures are successfully negotiated, we can provide no assurance that such new venture will have enough financial resources to fully develop the new venture. Although we will continue to explore financing options based upon our existing business plan, our plan of operations for the next 12 months will also include further investigation of forming partnerships with other entities and researching other business opportunities.

Our Exploration Program

The trenching program started October 18, 2007 and was terminated on October 23, 2007 after which reclamation of the trenches was initiated.

An exploration report was prepared at the request of Kranti Resources, Inc. to document the results of the 2007 soil geochemical program on the Bradley Creek property. The program was designed to assess the area for its potential to host alkalic copper-gold porphyry deposits. The Bradley Creek property, covering 478.49 hectares, is located approximately 25 km northeast of La La Hache and 60 km northeast of 100 Mile House and has good access via a network of logging roads. Kranti Resources has optioned the property from Beeston Enterprises Ltd. The property is situated within the Quesnel Terrane, a highly prospective, northwest trending belt of Triassic /Jurassic Nicola Group volcanic rocks and coeval plutons that host British Columbia's economically most significant alkalic and calc-alkalic copper-gold deposits. These include former and present mine producers and deposits including Mt.Polley, Afton-Ajax, Copper Mountain, Highland Valley, Mt. Milligan and Kemess North. Rocks underlying the property are alkalic felsic intrusives along the southwester margin of the early Jurassic Takomkane Batholith. The 2007 exploration program consisted of 15.8 km of grid based soil sampling. A total of 363 soils, one rock and one silt sample were collected and analyzed for gold and copper, including 34-element ICP. The geochemical soil sampling program on the Bradley Creek property did identify weakly anomalous gold and copper-in soil. A short program of prospecting and follow- up on a few gold and copper anomalies is recommended.

Before minerals retrieval can begin, we must explore for and find mineralized material. After that has occurred we have to determine if it is economically feasible to remove the mineralized material. Economically feasible means

that the costs associated with the removal of the mineralized material will not exceed the price at which we can sell the mineralized material. We cannot predict what that will be until we find mineralized material.

We do not intend to hire additional employees at this time. All of the work on the property will be conducted by unaffiliated independent contractors that we will hire. The independent contractors will be responsible for surveying, geology, engineering, exploration, and excavation. The geologists will evaluate the information derived from the exploration and excavation, and the engineers will advise us on the economic feasibility of removing the mineralized material.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are an exploration stage mining company, which has not generated any revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the exploration of our properties and possible cost overruns due to price and cost increases in services.

To become profitable and competitive, we must conduct the research and exploration of our properties before we start production of any minerals we may find. We are seeking equity financing to provide for the capital required to implement our research and exploration phases. We believe that the funds raised from our offering will allow us to operate for one year.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing stockholders.

Liquidity and Capital Resources

To meet our need for cash we raised $55,500 from our public offering. We cannot guarantee that we have raised enough money through the public offering to stay in business. The money we have raised will be applied to the items set forth in the Use of Proceeds section of our Prospectus filed with the SEC and as explained throughout this 10-Q. There is a possibility that we will run out of money before we find mineralized material. If we find mineralized material and it is economically feasible to remove the mineralized material, we will attempt to raise additional money through a subsequent private placement, public offering, or through debt financing.

At the present time, we have not made any arrangements to raise any capital, other than through our Offering. If the Company requires additional capital and can not raise needed funds, it will either have to temporarily suspend or cease operations permanently. The funds raised in our Offering, together with the loans advanced, will likely allow the Company to operate for a minimum of one year. Other than as described in this paragraph, there are no other financing plans for the Company.

The Company has acquired the rights to utilize the Property, which contains one mining claim. The Property is staked and we began and finished the exploration work program during October 2007.

Since inception of the Company on November 3, 2006 to September 30, 2008, we have issued 4,387,500 shares of our common stock at $0.001 and $0.04 per share for total proceeds of $85,500.

As of September 30, 2008, our total assets were $12,353 and our total liabilities were $7,468.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required by smaller reporting companies.

ITEM 4T. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Jaskarn Samra, our Chief Executive and Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the Exchange Act)) as of the end of the period covered by this quarterly report (the Evaluation Date). Based on such evaluation, he has concluded that, as of the Evaluation Date, our disclosure controls and procedures are effective in alerting us on a timely basis to material information required to be included in our reports filed or submitted under the Exchange Act.

Management's Report on Internal Control over Financial Reporting

Management of our company is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in the Securities Exchange Act Rule 13a-15(f). Our principal financial officer conducted an evaluation of the effectiveness of our internal control over financial reporting as of September 30, 2008 as required by the Securities Exchange Act of 1934 Rule 13a-15(c). In making this assessment, our principal financial officer used the criteria set forth in the framework in “Internal Control – Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on the evaluation conducted under the framework in “Internal Control – Integrated Framework,” our principal financial officer concluded that our company’s internal control over financial reporting was effective, as of September 30, 2008, in providing reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Our principle financial officer concluded that there were no material weaknesses in our internal controls and procedures.

Changes in Internal Controls

There were no significant changes in our internal controls or, to the Company's knowledge, in other factors that could significantly affect the Company's disclosure controls and procedures subsequent to the date the Company carried out this evaluation.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

Not applicable.

ITEM 2. UNREGISTERED SALES OF EQUITY 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.

ITEM 6. EXHIBITS

The following exhibits are included with this filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our original Form SB-2 Registration Statement, filed under SEC File Number 333-142096, at the SEC website at www.sec.gov:

Exhibit

Number

Description

3.1

Articles of Incorporation*

3.2

Bylaws*

Rule 13a-14(a)/15d-14a(a) Certifications

Section 1350 Certifications

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.


	KRANTI RESOURCES, INC.
	(Registrant)
November 10, 2008
_____________________________	BY:	/s/ Jaskarn Samra
Date
		Jaskarn Samra
		President, Chief Executive Officer, Principal Financial Officer, Principal Accounting Officer, and member of the Board of Directors


NEVADA	98-0513655
(State or other jurisdiction of incorporation or	(IRS Employer Identification Number)
organization)


		As at		As at
		September 30,		December 31,
		2008		2007
		*(Unaudited)*
ASSETS
Current Assets
Cash	$	11,883	$	33,250
Prepaid expenses		470		495
Total Current Assets		12,353		33,745

TOTAL ASSETS	$	12,353	$	33,745


LIABILITIES AND STOCKHOLDERS’ EQUITY

LIABILITIES
Current Liabilities
Accounts payable	$	1,983	$	664
Due to related party (note 6)		5,485		5,485
Total Liabilities		7,468		6,149

STOCKHOLDERS’ EQUITY (note 3)
Preferred stock, par value $0.001, 100,000,000 shares
authorized, none issued and outstanding		-		-
Common stock, par value $0.001, 100,000,000 shares
authorized, 4,387,500 shares issued and outstanding		4,388		4,388
Additional paid-in capital		81,112		81,112
Deficit accumulated during the exploration stage		(80,615)		(57,904)
Total Stockholders’ Equity		4,885		27,596

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	12,353	$	33,745


										Cumulative
										From Inception
										(November 3,
										2006) to
		Three Months Ended September 30,				Nine Months Ended September 30,				September 30,
		2008		2007		2008		2007		2008

REVENUES:	$	-	$	-	$	-	$	-	$	-


OPERATING EXPENSES:
General and administrative expenses		-		39		140		52		496
Mining expenses		230		2,041		10,776		22,041		49,045
Professional fees		2,258		3,461		11,886		14,176		31,444
Total Operating Expenses		2,488		5,541		22,802		36,269		80,985

OTHER INCOME AND EXPENSE
Interest income		23		80		91		86		370

NET LOSS APPLICABLE TO
COMMON SHARES	$	(2,465)	$	(5,461)	$	(22,711)	$	(36,183)	$	(80,615)

Basic and Diluted Loss per
Common Share	$	(0.00)	$	(0.00)	$	(0.01)	$	(0.01)

Weighted Average Number of Common
Shares Outstanding		4,387,500		3,583,929		4,387,500		3,195,358