FreeZon,
лучше так
<!DOCTYPE html>
<html>
<head>
<title>Untitled</title>
<meta charset="utf-8">
<script src="https://ajax.googleapis.com/ajax/libs/jquery/1.12.0/jquery.min.js"></script>
<script>
$(function(){
var q = 1207;
$('p').html(convertTime(q));
function convertTime(time)
{
return (time/60|0) + ":" + ("0"+time%60).substr(-2);
}
})
</script>
</head>
<body>
<p></p>
</body>
</html>