UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-QSB


     [X] QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
ACT OF 1934 For the Quarterly Period Ended March 31, 2004

     [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
ACT OF 1934 For the transition period from _________ to _________

                        Commission File Number: 000-26607

                           SATELLITE ENTERPRISES CORP.
         ---------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

            Nevada                                              88-0390828
--------------------------------                           -------------------
 (State or other jurisdiction of                            (I.R.S. Employer
  incorporation or organization)                          Identification Number)


           205 Church Street, Suite 340, New Haven, Connecticut 06510
     ----------------------------------------------------------------------
                    (Address of principal executive offices)

                                  203-234-6350
                           --------------------------
                           (Issuer's telephone number)



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

     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 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 [ ]

     As of May 21,  2004,  the Company  had  205,271,502 issued and  outstanding
shares of its $.001 par value common stock.

     Transitional Small Business Disclosure Format: Yes [ ] No [X]

     Documents incorporated by reference: None.

<PAGE>

                           SATELLITE ENTERPRISES CORP.

                                      INDEX

PART I. FINANCIAL INFORMATION

     Item 1. Consolidated  Financial Statements for Satellite  Enterprises Corp.
             and Subsidiary

          Consolidated  Balance Sheets (Unaudited) - March 31, 2004

          Consolidated  Statement  of  Operations  (Unaudited)  - For the  Three
          Months Ended March 31, 2004

          Consolidated  Statements  of Cash  Flows  (Unaudited)  - For the three
          Months Ended March 31, 2004

          Notes to Unaudited Consolidated Financial Statements

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


PART  II.  OTHER  INFORMATION

     Item  1.  Legal Proceedings

     Item  2.  Changes in 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 and Reports on Form 8-K


SIGNATURES



                                        2
<PAGE>

ITEM I. FINANCIAL INFORMATION
<TABLE>
<CAPTION>
                   SATELLITE ENTERPRISE CORP. AND SUBSIDIARIES

                     CONSOLIDATED BALANCE SHEET (UNAUDITED)
                                 March 31, 2004


                                     ASSETS

<S>                                                                 <C>
CURRENT ASSETS
   Cash                                                             $   31,073
   Accounts receivable                                                 206,580
                                                                    ----------

          Total Current Assets                                         237,653

EQUIPMENT, net of depreciation                                       2,180,096

INTANGIBLE ASSETS
 Technology Rights                                                      15,458
 Goodwill                                                            1,735,546
                                                                    ----------
                                                                     1,751,004
                                                                    ----------
                                                                    $4,168,753
                                                                    ==========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Notes payable to financial institutions                          $  788,381
   Accounts payable                                                    190,612
   Accrued expenses                                                    195,882
                                                                    ----------

         Total Current Liabilities                                   1,174,875

LONG-TERM DEBT
   Notes payable to related party                                    1,139,405

STOCKHOLDERS' EQUITY
   Preferred Stock, par value of $0.01, authorized
      5,000,000 shares, none issued and outstanding
   Common stock $0.001 par value, 500,000,000
      shares authorized, 198,738,675  issued and
      outstanding at March 31, 2004                                     66,246
   Paid-in-capital                                                   4,249,875
   Accumulated deficit                                              (2,416,108)
   Stock subscription receivable                                       (45,540)
                                                                   -----------
                                                                     1,854,473
                                                                   -----------
                                                                    $4,168,753
                                                                   ===========
</TABLE>

          See accompanying notes to consolidated financial statements.


                                        3
<PAGE>
<TABLE>
<CAPTION>
                   SATELLITE ENTERPRISE CORP. AND SUBSIDIARIES

                CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)



                                                              Three Months Ended
                                                                   March 31,2004
                                                              ------------------
<S>                                                               <C>
NET SALES                                                         $ 189,778

COSTS AND EXPENSES
   Cost of services                                                 146,861
   Selling, general and administrative                              469,150
   Research and development                                         166,271
   Depreciation and amortization                                     72,173
                                                                   --------

          Total Costs and Expenses                                  854,455
                                                                   --------

NET OPERATING LOSS                                                 (664,677)

OTHER INCOME
   Currency gains                                                     9,128
                                                                   --------

          Total Other Income                                          9,128
                                                                   --------

NET LOSS                                                          $(655,549)
                                                                  =========

NET LOSS PER COMMON SHARE                                         $(0.05)
                                                                  =======
   (Basic and diluted)

WEIGHTED AVERAGE COMMON SHARES
   OUTSTANDING                                                  131,258,740
                                                                ===========

The Company had no operations for the comparable period of the previous year.
</TABLE>

          See accompanying notes to consolidated financial statements.

                                        4
<PAGE>
<TABLE>
                   SATELLITE ENTERPRISE CORP. AND SUBSIDIARIES

                CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)



                                                              Three Months Ended
                                                                  March 31, 2004
                                                              ------------------
<S>                                                               <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss                                                        $(655,549)
  Adjustments to reconcile net loss to net cash provided
     by operating activities:
     Depreciation and amortization                                   72,173

Changes in operating assets and liabilities:
    Change in net assets acquired                                    66,294
    Accounts payable                                                 30,000
                                                                   --------
       Net Cash Used in Operating Activities                       (487,082)
                                                                   --------


CASH FLOWS FROM FINANCING ACTIVITIES
  Sale of common stock                                              387,340
  Stock subscription receipts                                       134,460
                                                                   --------
       Net Cash Provided by Financing Activities                    521,800
                                                                   --------
NET INCREASE IN CASH                                                 34,718
CASH AND CASH EQUIVALENTS BEGINNING OF
   YEAR                                                              (3,645)
                                                                   --------
CASH AND CASH EQUIVALENTS END OF YEAR                             $  31,073
                                                                   ========
</TABLE>

          See accompanying notes to consolidated financial statements.

                                        5
<PAGE>

                   SATELLITE ENTERPRISE CORP. AND SUBSIDIARIES

                NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
                                 MARCH 31, 2004


NOTE 1 BASIS OF PRESENTATION

     The  accompanying  condensed  consolidated  financial  statements have been
     prepared in accordance with generally  accepted  accounting  principles for
     interim financial information.  Accordingly, they do not include all of the
     information  and  footnotes  required  by  generally  accepted   accounting
     principles for complete financial statements. In the opinion of management,
     all  adjustments  (consisting  of  normal  recurring  accruals)  considered
     necessary in order to make the financial  statements  not  misleading  have
     been  included.  Results for the three  months ended March 31, 2004 are not
     necessarily  indicative  of the results  that may be expected  for the year
     ending December 31, 2004. For further  information,  refer to the financial
     statements and footnotes thereto included in the Satellite Enterprise Corp.
     and  Subsidiaries  annual report on Form 10-KSB for the year ended December
     31, 2003.

NOTE 2  ACQUISITION OF MEDIA FINANCE EN SUISSE GMBH

     On November 26, 2003,  the  shareholders  at a special  meeting  approved a
     Stock  Purchase  Option  Agreement  dated  November 26, 2003 between  Media
     Finance en Suisse GMBH, a Swiss Corporation  (hereinafter  "Media Finance")
     which has a twenty  year  exclusive  license to  distribute  all  satellite
     device  content.  This company is 100% owned by the family of the President
     and Chief  Executive  Officer of the Company.  This option  agreement would
     allow the Company to acquire  the right to  purchase  100% of the shares of
     common stock of Satellite Newspapers Suisse GMBA, a Swiss corporation.  The
     exercise of this option  agreement would give the Company  worldwide rights
     to market and distribute its products.

     Under the Option Agreement, Media Finance would grant the Company the right
     and  option to  purchase  from it, all of the  shares of  Satellite  Suisse
     consisting of 20,000 shares for the aggregate  consideration  of 42,000,000
     shares of common stock, par value $0.001 per share of the company.

     The Stock  Option  Agreement  dated  November  26,  2003 was  exercised  on
     February  15, 2004  thereby  allowing the Company to acquire the World Wide
     rights to market and distribute the products of satellite Newspapers Suisse
     GMBA. The agreement  provides for the purchase of 100% of Satellite Suisse.
     The acquisition is being accounted for as a purchase under the requirements
     prescribed by Financial Accounting Standard Board ("SFAS") No. 141. Results
     of operations for the acquired  company have been included in the financial
     statement since January 1, 2004.

     Based upon unaudited financial data at December 31, 2003, the allocation of
     the purchase price will be as follows:
<TABLE>
     <S>                                                             <C>
     Value of 126,000,000 shares @ $0.1666 per share                 $2,100,000
                                                                     ==========

     Fair value of net assets allocated as follows:

     Cash                                                            $   41,290
     Other current assets                                               256,931
     Equipment                                                        2,179,660
     Liabilities assumed                                             (2,113,427)
     Goodwill                                                         1,735,546
                                                                     ----------
            Total Purchase Value                                     $2,100,000
                                                                     ==========
</TABLE>

                                        6
<PAGE>

                   SATELLITE ENTERPRISE CORP. AND SUBSIDIARIES

          NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS (CONTINUED)
                                 MARCH 31, 2004


NOTE 3  NOTES PAYABLE TO FINANCIAL INSTITUTIONS

     The Company has several unsecured loans to seven financial  institutions in
     the amount of $788,380.  Of this amount,  $726,892 is interest bearing with
     maturity dates between July 4, 2003 and November 3, 2004. The interest rate
     is 6% under the terms of agreement  and no interest is due and payable,  if
     the loans are repaid as of the due date.

NOTE 4  NOTES PAYABLE TO RELATED PARTIES

     At March 31, 2004, the principal stockholder of the Company has advanced to
     the Company $1,139,405.  There is no specific maturity date and the loan is
     interest free.  Inputed interest on the loan would approximate  $14,000 for
     the three months ended March 31, 2004 at an average rate of 5%.

NOTE 5  STOCKHOLDERS' EQUITY

     On March 31, 2004, the Board of Directors  approved a  three-for-one  stock
     dividend  applicable  to  shareholders  of  record  as of  that  date  that
     increased the total shares  outstanding  to  198,738,675.  The earnings per
     share  calculation and all related share figures have been adjusted to give
     effect to the  three-for-one  stock  dividend  as if it had  happened as of
     January 1, 2004.

     On February 15, 2004, the Company issued  42,000,000 shares of common stock
     for the acquisition of Media Finance en Suisse GMBH. The shares were valued
     at a discounted price of $0.05 per share. As a result of the  three-for-one
     stock dividend  effective on March 31, 2004, a total of 126,000,000  shares
     of common stock were issued for the  acquisition of Media Finance en Suisse
     GMBH.  The shares were issued to the principal  stockholder  of the company
     who controlled the company being acquired.

     On March 9,  2004,  the Board of  Directors  approved  an  increase  in the
     Company's authorized common shares from 200,000 to 500,000 shares.

     During the quarter ended March 31, 2004,  2,140,755  shares of common stock
     were  sold at a price of $0.20  per  share  net of  commissions.  The total
     aggregate  received were $387,340.  As a result of the three-for-one  stock
     dividend effective on March 31, 2004, a total of 6,422,325 shares of common
     stock were sold.

     During the  quarter  ended March 31,  2004,  $134,460  was  received on the
     outstanding stock subscription receivable.


                                        7
<PAGE>

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

Cautionary   Statement  Pursuant  to  Safe  Harbor  Provisions  of  the  Private
Securities Litigation Reform Act of 1995:

This  Quarterly  Report on Form 10-QSB for the quarterly  period ended March 31,
2004  contains  "forward-looking"  statements  within the meaning of the Federal
securities  laws.  These  forward-looking   statements  include,  among  others,
statements concerning the Company's  expectations  regarding sales trends, gross
and  net  operating  margin  trends,   political  and  economic   matters,   the
availability of equity capital to fund the Company's capital  requirements,  and
other  statements  of  expectations,   beliefs,  future  plans  and  strategies,
anticipated  events or trends, and similar  expressions  concerning matters that
are not  historical  facts.  The  forward-looking  statements in this  Quarterly
Report on Form 10-QSB for the quarterly  period ended March 31, 2004 are subject
to risks and uncertainties  that could cause actual results to differ materially
from those results expressed in or implied by the statements contained herein.

The interim  financial  statements  have been prepared by Satellite  Enterprises
Corp. and in the opinion of management,  reflect all material  adjustments which
are necessary to a fair statement of results for the interim periods  presented,
including  normal  recurring  adjustments.   Certain  information  and  footnote
disclosures made in the most recent annual financial  statements included in the
Company's Form 10-KSB for the year ended December 31, 2003,  have been condensed
or omitted for the interim  statements.  It is the Company's  opinion that, when
the  interim  statements  are read in  conjunction  with the  December  31, 2003
financial  statements,  the  disclosures  are  adequate to make the  information
presented not  misleading.  The results of operations for the three months ended
March 31, 2004 are not necessarily  indicative of the operating  results for the
full fiscal year.

The Company's auditors in the most recent annual financial  statements  included
in the Company's  Form 10-KSB for the year ended December 31, 2003 have issued a
going concern opinion. The Company's auditors have reported that the Company has
suffered  recurring  net  operating  losses and has a current ratio deficit that
raises  substantial  doubt  about our  Company's  ability to continue as a going
concern. Additionally even if the Company does raise sufficient capital, acquire
additional  companies or generate revenues,  there can be no assurances that the
net  proceeds or the  revenues  will be  sufficient  to enable it to develop the
business  to a  level  where  it will  generate  profits  and  cash  flows  from
operations.

The  Company  is in  the  development  stage  and to  date,  has  not  generated
sufficient revenues from operation to cover all operating expenses.  The Company
intends to fund its  operations  and other  capital needs for the next 12 months
substantially  from  proceeds  from  additional  private or public  offerings of
equity and/or from debt financing, but there can be no assurance that such funds
will be sufficient for these  purposes.  In addition,  there can be no assurance
that such financing will be available,  or that such financing will be available
on acceptable terms.

                                        8
<PAGE>

Overview:

Satellite Enterprises Corp. (formerly GreenVolt Power Corp.) (the "Company") was
formed as a Nevada  corporation  on April 14,  1998,  to operate as a  specialty
retailer of fine jewelry.  In its fiscal year ending June 30, 2000,  the Company
sold a  limited  quantity  of  jewelry  through  direct  mail  and word of mouth
advertising.

On July 29, 2000,  subsequent to the close of its June 30, 2000 fiscal year, the
Company  acquired 100% of the outstanding  shares of GreenVolt Corp., an Ontario
Corporation  ("GreenVolt")  in a stock for stock exchange.  GreenVolt was in the
process of developing fuel cell  technologies for commercial and industrial use.
In connection with this transaction,  management of the Company changed, and the
Company  disposed of its retail jewelry  business in September 2000, by transfer
of all jewelry assets and  liabilities  to Larry Beck, a former  director of the
company. In connection with such transaction,  the Company changed its name from
Beck & Co., Inc. to GreenVolt Power Corp.

On August 27, 2002, Satellite Holdings,  Ltd., a corporation organized under the
laws of Turks & Caicos, acquired 13,783,740 shares of the Company's common stock
from Thomas L. Faul. Such shares represented approximately 53% of the issued and
outstanding common stock of the Company. Mr. Faul resigned as the Company's sole
officer  and  director,  after  appointing  Robert  Hodge as the  Company's  new
President  and CEO, and as Chairman of the Board of Directors.  In addition,  in
exchange for the release by Faul of the Company for various claims,  the Company
transferred its wholly-owned subsidiary, GreenVolt Corp., to Faul.

On August 28, 2002, the Board of Directors of the Company resolved to change the
name of the Company to Satellite  Enterprises  Corp., and on September 15, 2002,
the Company  completed a  one-for-one-hundred  reverse stock split (the "Reverse
Stock  Split") of its  outstanding  common stock.  During fiscal year 2003,  the
Company concentrated its efforts on maintaining its corporate status and seeking
a merger candidate.

On June 20, 2003,  just prior to the close of its June 30, 2003 fiscal year,  in
conjunction  with a previously  reported  change of control of the Company,  the
Company entered into a Rights Agreement with Satellite  Newspapers Worldwide NV,
a  corporation  organized  under  the  laws  of  the  Netherlands   (hereinafter
"Satellite  Newspapers").  Under said  Rights  Agreement,  Satellite  Newspapers
appointed the Company as it's irrevocable  commercial  exclusive  distributor to
promote the sale and/or lease of its newspaper  Kiosks  (hereinafter  "KiOSK)and
the associated  Satellite  newspaper content  distribution  technology for which
Satellite Newspapers has developed the technology, owns the patents, engineering
and technical design. These Rights include the exclusive rights to use the trade
names, logos and other trade  designations,  including,  but not limited to, all
rights  to the  Satellite  Newspapers  derived  content  fed into the  territory
granted therein to the Company and the names "Satellite  Newspapers"  devices or
variants  thereof as a corporate  or trade name of Satellite  Newspapers.  These
Rights also include the exclusive rights to distribute all available contents of
its KiOSKs in its  territory  which  includes  all of North,  Central  and South
America  including  but not  limited  to Mexico,  the United  States and all its
territories,  and all the Caribbean Islands, including the existing inventory of
prototype and placebo units of its KiOSKs in the Americas.

                                       09
<PAGE>

The Rights  further  include all parts and supply  inventory  owned by Satellite
Newspapers relating to its KiOSKs in said territory.

On November 26, 2003, the  shareholders  at a special  meeting  approved a Stock
Purchase  Option  Agreement  dated  November 26, 2003 between  Media  Finance en
Suisse GMBH,  a Swiss  Corporation  (hereinafter  "Media  Finance")  which has a
twenty year exclusive  license to distribute all satellite device content.  This
company is 100% owned by the family of the President and Chief Executive Officer
of the  Company.  This option  agreement  would allow the Company to acquire the
right to purchase  100% of the shares of common  stock of  Satellite  Newspapers
Suisse GMBA,  a Swiss  corporation  (hereinafter  "Satellite  Newspapers").  The
exercise of this option  agreement  would give the Company  worldwide  rights to
market and distribute its products.

Under the Option Agreement,  Media Finance would grant the Company the right and
option to purchase from it, all of the shares of Satellite Newspapers consisting
of 20,000 shares for the aggregate  consideration of 42,000,000 shares of common
stock, par value $0.001 per share of the company.

The Stock Option Agreement dated November 26, 2003 was exercised on February 15,
2004 thereby allowing the Company to acquire the World Wide rights to market and
distribute the products of satellite Newspapers.  The agreement provides for the
purchase of 100% of Satellite Newspapers.

THE BUSINESS OF THE COMPANY - AS OF MARCH 31, 2004

On November 26,  2003,  the  Company's  shareholders  approved a Stock  Purchase
Option Agreement to purchase  Satellite  Newspapers dated November 26, 2003 with
Media Finance which granted Satellite Newspapers a twenty year exclusive license
to distribute  all satellite  device  content world wide.  Media Finance is 100%
owned by the family of the President and Chief Executive Officer of the Company.
This option agreement  allowed the Company to acquire the right to purchase 100%
of the shares of common  stock of  Satellite  Newspapers.  The  exercise of this
option agreement gives the Company worldwide rights to market and distribute its
products.

Under the Option  Agreement,  Media  Finance  granted  the Company the right and
option to purchase from it, all of the shares of Satellite Newspapers consisting
of 20,000 shares for the aggregate  consideration of 42,000,000 shares of common
stock, par value $0.001 per share of the company.

The Stock Option Agreement dated November 26, 2003 was exercised on February 15,
2004 thereby granting the Company World Wide rights to market and distribute the
products of Satellite  Newspapers.  The  agreement  provides for the purchase of
100% of Satellite Newspapers.

THE BUSINESS AND ITS OBJECTIVES

The  Company  is the  exclusive  holder of the World  Wide  rights to market and
distribute  the  products of  Satellite  Newspapers.  Satellite  Newspapers  has
developed  and  operates  through a series of master  distributor  agreements  a
series of automated digital KiOSKS able to deliver print-on-demand copies of any
of its 100+ syndicated international newspaper titles.

To date,  the Satellite  Newspapers  has a master  distributor  agreement in the
Middle  East,  Europe,  Australia  and the Far East.  The  Company  is  actively
pursuing such an agreement ofr the Americas markets, though no such agreement is
in palce to date. The Company's  revenues are derived by a distributor  fee paid
to it by its master  distributors as well as advertising  fees, and fees paid on
each newspaper sold.

                                       10
<PAGE>

                           PART  II.  OTHER  INFORMATION

ITEM  1.  LEGAL  PROCEEDINGSS

The Company was sued and recieved an $11,700 default  judgment in a Civil Action
No.  AR04-001266  filed in Pennsylvania  for unsolicited  e-mail  communication.
There is no other  pending  or  threatened  litigation,  investigation  or other
proceedings against the Company


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


ITEM  6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a) Exhibits - Exhibits 31 and 32 (Sarbanes-Oxley)

     (b) Reports on Form 8-K filed March 31, 2004


                                   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.


                                                  SATELLITE ENTERPRISE CORP.
                                               --------------------------------
                                                       (Registrant)



Date:  May 21, 2004                         By:  /s/ ROY PICENI
                                               --------------------------------
                                               Roy Piceni
                                               Chief Operating Officer
                                               (Duly Authorized Officer)


Date:  May 21, 2004                         By:  /s/ NEILS REIJERS
                                               --------------------------------
                                               Neils Reijers
                                               Chief Financial Officer
                                               (Principal Financial
                                               and Accounting Officer)


                                       11
<PAGE>