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

                           FORM 10-QSB

  (Mark One)
     [X]  Annual Report Pursuant to Section 13 or 15(d) of The
  Securities Exchange Act of 1934

        For the Quarter Ended September 30, 2002

                               OR

     [ ]  Transition Report Pursuant to Section 13 or 15(d) of The
  Securities Exchange Act of 1934

        For the transition period from         to

                  Commission File Number   0-24633


                      RAKO CAPITAL CORPORATION
           (Name of small business issuer in its charter)


            Nevada                               91-0853320
(State or other jurisdiction of              (I.R.S. Employer
incorporation or organization)               Identification No.)


      56 W. 400 S. Ste. 220
      Salt Lake City, Utah                         84101
(Address of principal executive offices)         (Zip Code)


Issuer's telephone no.:  (801) 322-3401


     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

             APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date.

              Class                  Outstanding as of November 14, 2002
   Common Stock, $.001 Par Value                5,025,030


TABLE OF CONTENTS
                                                           Page
                                                          Number

PART  I.   FINANCIAL  INFORMATION

Item  1.  Financial  Statements

     Balance Sheets, December 31, 2001 and
     September 30, 2002                                     3

     Statements of Operations, Three Months and Nine
     Months Ended September 30, 2002 and 2001 and From
     October 9, 1968 (Date of Inception)
     through September 30, 2002                             5

     Statements of Stockholders' Equity,
     From October 9, 1968 (Date of Inception)
     through September 30, 2002                             6

     Statements of Cash Flows, Nine Months
     Ended September 30, 2002 and 2001 and
     From October 9, 1968  (Date of Inception)
     through September 30 2002                              9

     Notes to Financial Statements                         11

Item 2. Management's Discussion and Analysis or
        Plan of Operation                                  12

Item 3. Controls and Procedures                            14


PART  II.  OTHER  INFORMATION

Item  1.  Legal Proceedings                                14

Item  2.  Changes In Securities                            14

Item  3.  Defaults Upon Senior Securities                  14

Item  4.  Submission of Matters to a Vote of
           Securities Holders                              15

Item  5.  Other Information                                15

Item  6.  Exhibits and Reports on Form 8-K                 15

          SIGNATURES                                       15




PART  I:  Financial  Information

Item  1:  Financial  Statements


                           RAKO CAPITAL CORPORATION
                         (A Development Stage Company)

                             FINANCIAL STATEMENTS

                   September 30, 2002 and December 31, 2001



                           RAKO CAPITAL CORPORATION
                         (A Development Stage Company)
                                Balance Sheets
<table>

                                   ASSETS
                                  --------

                                                   September 30,   December 31,
                                                       2002            2001
                                                    ----------      ----------
                                                    (Unaudited)

                                                <c>           <c>
CURRENT ASSETS

  Cash                                              $        -    $        -
                                                    ----------    ----------
    Total Current Assets                                     -             -
                                                    ----------    ----------

    TOTAL ASSETS                                    $        -    $        -
                                                    ==========    ==========


</table>
   The accompanying notes are an integral part of these financial statements.



                         RAKO CAPITAL CORPORATION
                       (A Development Stage Company)
                         Balance Sheets (Continued)
<table>

                  LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
                  ----------------------------------------------

                                                    September 30,          December 31,
                                                        2002                   2001
                                                     ----------            ----------
                                                    (Unaudited)

                                                 <c>                   <c>
CURRENT LIABILITIES

  Accounts payable                                   $    4,887            $    1,470

  Due to shareholder                                      1,555                     -
                                                     ----------            ----------

   Total Current Liabilities                              6,442                 1,470
                                                     ----------            ----------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY (DEFICIT)
  Preferred stock at; $0.001 par value;
  authorized 20,000,000 preferred shares,
  no shares issued and outstanding.                           -                     -
  Common stock at; $0.001 par value;
  authorized 50,000,000 common shares;
  5,025,030 and 2,525,030 common shares issued
  and outstanding, respectively                           5,025                 2,525
  Additional paid-in capital                            100,358               100,358
  Deficit accumulated during the development stage     (111,825)             (104,353)
                                                     ----------            ----------
    Total Stockholders' Equity (Deficit)                 (6,442)               (1,470)
                                                     ----------            ----------
    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
     (DEFICIT)                                       $        -            $        -
                                                     ==========            ==========


</table>
   The accompanying notes are an integral part of these financial statements.




                           RAKO CAPITAL CORPORATION
                        (A Development Stage Company)
                           Statements of Operations
                                 (Unaudited)
<table>
                                 For the                 For the              From
                              Three Months             Nine Months        Inception on
                                 Ended                    Ended            October 9,
                              September 30,            September 30,      1968 through
                         ----------------------    ---------------------- September 30,
                           2002         2001         2002         2001         2002
                         ----------   ----------   ----------   ----------   ----------

                     <c>          <c>          <c>          <c>          <c>
REVENUES                 $        -   $        -   $        -   $        -   $        -

EXPENSES                      3,977        1,507        7,472        4,232      111,825
                         ----------   ----------   ----------   ----------   ----------
NET LOSS                 $   (3,977)  $   (1,507)  $   (7,472)  $   (4,232)  $ (111,825)
                         ==========   ==========   ==========   ==========   ==========
BASIC NET LOSS PER SHARE
                         $    (0.00)  $    (0.00)  $    (0.00)  $    (0.00)
                         ==========   ==========   ==========   ==========

WEIGHTED AVERAGE NUMBER
  OF SHARES OUTSTANDING   5,025,030    2,525,030    3,957,512    1,846,198
                         ==========   ==========   ==========   ==========


</table>
The accompanying notes are an integral part of these financial statements.



                          RAKO CAPITAL CORPORATION
                        (A Development Stage Company)
                    Statements of Stockholders' Equity (Deficit)
           From Inception on October 9, 1968 through September 30, 2002
                                (Unaudited)
<table>
                                                                              Deficit
                                                                             Accumulated
                                                              Additional     During the
                                         Common Stock           Paid-In      Development
                                     Shares        Amount       Capital         Stage
                                   ----------    ----------    ----------    ----------

                               <c>           <c>           <c>           <c>
Balance at inception on
October 9, 1968                             -    $        -    $        -    $        -

Common stock issued for
mining claims recorded at
predecessor cost of $0.00
per share                             400,000           400          (400)            -

Common stock issued for
services at $0.15 per share           400,000           400         59,600            -

Common stock issued for
cash at $0.45 per share                14,734            15          6,615            -

Cost associated with stock
offering                                    -             -           (994)           -

Common stock issued for
mining claims recorded at
predecessor cost of $0.075
per share                             333,334           333         24,667            -

Net loss for the period from
inception on October 9, 1968
to December 31, 1995                        -             -              -      (90,636)
                                   ----------    ----------     ----------   ----------
Balance, December 31,
1995                                1,148,068         1,148         89,488      (90,636)

Cancellation of common
stock                                (123,024)         (123)           123            -

Fractional shares adjustment              (14)            -              -            -

Capital contributed for
payment of expenses                         -             -          2,461            -

Net loss for the year ended
December 31, 1996                           -             -              -       (2,461)
                                   ----------    ----------    -----------   ----------
Balance, December 31,
1996                                1,025,030    $    1,025    $    92,072  $   (93,097)
                                   ----------    ----------    -----------   ----------

</table>
The accompanying notes are an integral part of these financial statements.




                          RAKO CAPITAL CORPORATION
                        (A Development Stage Company)
              Statements of Stockholders' Equity (Deficit) (Continued)
            From Inception on October 9, 1968 through September 30, 2002
                                  (Unaudited)
<table>
                                                                               Deficit
                                                                             Accumulated
                                                              Additional     During the
                                         Common Stock           Paid-In      Development
                                     Shares        Amount       Capital         Stage
                                   ----------    ----------    ----------    ----------

                               <c>           <c>           <c>           <c>
Balance, December 31,
1996                                1,025,030    $    1,025    $   92,072    $  (93,097)

Net loss for the year ended
December 31, 1997                           -             -             -             -
                                   ----------    ----------    ----------    ----------
Balance, December 31,
1997                                1,025,030         1,025        92,072       (93,097)

Capital contributed for
payment of expenses                         -             -         1,574             -

Net loss for the year ended
December 31, 1998                           -             -             -        (1,574)
                                   ----------    ----------    ----------    ----------
Balance, December 31,
1998                                1,025,030         1,025        93,646       (94,671)

Capital contributed for
payment of expenses                         -             -         1,820             -

Net loss for the year ended
December 31, 1999                           -             -             -        (1,908)
                                   ----------    ----------    ----------    ----------
Balance, December 31,
1999                                1,025,030         1,025        95,466       (95,579)

Capital contributed for
payment of expenses                         -             -         2,721             -

Net loss for the year ended
December 30, 2000                           -             -             -        (2,971)
                                   ----------    ----------    ----------    ----------
Balance, December 31,
2000                                1,025,030    $    1,025    $   98,187    $  (99,550)
                                   ----------    ----------    ----------    ----------

</table>
   The accompanying notes are an integral part of these financial statements.



                          RAKO CAPITAL CORPORATION
                        (A Development Stage Company)
              Statements of Stockholders' Equity (Deficit) (Continued)
            From Inception on October 9, 1968 through September 30, 2002
                                  (Unaudited)
<table>
                                                                              Deficit
                                                                             Accumulated
                                                              Additional     During the
                                         Common Stock           Paid-In      Development
                                     Shares        Amount       Capital         Stage
                                   ----------    ----------    ----------    ----------

                               <c>           <c>           <c>           <c>
Balance, December 31,
2000                                1,025,030    $    1,025    $   98,187    $  (99,550)

Common stock issued to
related party for conversion
of debt at $0.0018 per
share on May 3, 2001                1,500,000         1,500         1,225             -

Capital contributed for
expenses paid by shareholder                -             -           946             -

Net loss for the year ended
December 31, 2001                           -             -             -        (4,803)
                                   ----------    ----------    ----------    ----------
Balance, December 31,
2001                                2,525,030         2,525       100,358      (104,353)

Common stock issued to
Related party for conversion
Of debt at $0.001 per share
On April 26, 2002 (Unaudited)       2,500,000         2,500             -             -

Net loss for nine
months ended September
30, 2002 (Unaudited)                        -             -             -        (7,472)
                                   ----------    ----------    ----------    ----------
Balance, September 30,
2002 (Unaudited)                    5,025,030    $    5,025    $  100,358    $ (111,825)
                                   ==========    ==========    ==========    ==========


</table>
  The accompanying notes are an integral part of these financial statements.




                            RAKO CAPITAL CORPORATION
                          (A Development Stage Company)
                            Statements of Cash Flows
                                  (Unaudited)
<table>
                                                                        From
                                                                    Inception on
                                        For the Nine Months Ended    October 9,
                                        -------------------------   1968 Through
                                               September 30,        September 30,
                                            2002          2001          2002
                                         ----------    ----------    ----------

                                     <c>           <c>           <c>
CASH FLOWS FROM OPERATING ACTIVITIES

  Net income (loss)                      $   (7,472)   $   (4,232)   $ (111,825)
  Adjustments to reconcile net
   loss to net cash (used) by
    operating activities:
  Stock issued for services                       -             -        60,000
  Changes in assets and
   liabilities:
  Increase(decrease) in
   accounts payable                           3,417         1,507        29,887
                                         ----------    ----------    ----------
  Net Cash Used in
   Operating Activities                      (4,055)       (2,725)      (21,938)
                                         ----------    ----------    ----------
CASH FLOWS FROM INVESTING ACTIVITIES              -             -             -
                                         ----------    ----------    ----------
CASH FLOWS FROM FINANCING ACTIVITIES

  Issuance of common stock
   for cash                                       -             -         5,636
  Increase in accounts
   payable-related party                      4,055             -         6,780
  Expenses paid on Company's
   behalf                                         -         2,725         9,522
                                         ----------    ----------    ----------
  Net Cash Provided by
   financing Activities                       4,055         2,725        21,938
                                         ----------    ----------    ----------
NET INCREASE (DECREASE)IN CASH                    -             -             -
                                         ----------    ----------    ----------
CASH AT BEGINNING OF PERIOD                       -             -             -
                                         ----------    ----------    ----------
CASH AT END OF PERIOD                    $        -    $        -    $        -
                                         ==========    ==========    ==========


</table>
   The accompanying notes are an integral part of these financial statements.




                            RAKO CAPITAL CORPORATION
                          (A Development Stage Company)
                       Statements of Cash Flows (continued)
                                  (Unaudited)
<table>
                                                                       From
                                                                    Inception on
                                        For the Nine Months Ended    October 9,
                                         ------------------------   1968 Through
                                              September 30,         September 30,
                                            2002          2001          2002
                                         ----------    ----------    ----------

                                     <c>           <c>           <c>
SUPPLEMENTAL DISCLOSURES OF
 CASH FLOW INFORMATION

CASH PAID FOR:

    Interest                             $        -    $        -    $        -
    Income Taxes                         $        -    $        -    $        -


NON CASH FINANCING ACTIVITIES

Common stock issued for services         $        -    $        -    $   60,000
Common stock issued for mining           $        -    $        -    $   25,000
Common stock issued for conversion       $    2,500    $        -    $    5,225
of debt-related party


</table>
   The accompanying notes are an integral part of these financial statements.




                           RAKO CAPITAL CORPORATION
                         (A Development Stage Company)
                        Notes to the Financial Statements
                     September 30, 2002 and December 31, 2001


NOTE 1 -  CONDENSED FINANCIAL STATEMENTS

         The accompanying financial statements have been prepared by the
         Company without audit. In the opinion of management, all adjustments
         (which include only normal recurring adjustments) necessary to
         present fairly the financial position, results and cash flows at
         September 30, 2002 and 2001 and for all periods presented have
         been made.

         Certain information and footnote disclosures normally included in
         financial statements prepared  in accordance with generally accepted
         accounting principles have been condensed or omitted. It is suggested
         that these condensed financial statements be read in conjunction with
         the financial statements and notes thereto included in the Company's
         December 31, 2001 audited financial statements. The results of
         operations for the periods ended September 30, 2002 and 2001 are not
         necessarily indicative of the operating results for the full years.

NOTE 2 -    GOING CONCERN

         The Company's financial statements are prepared using generally
         accepted accounting principles applicable to a going concern which
         contemplates the realization of assets and liquidation of liabilities
         in the normal course of business.  The Company has not yet
         established an ongoing source of revenues sufficient to cover its
         operating costs and allow it to continue as a going concern.  The
         ability of the Company to continue as a going concern is dependent on
         the Company obtaining adequate capital to fund operating losses until
         it becomes profitable.  If the Company is unable to obtain adequate
         capital, it could be forced to cease operations.

         In order to continue as a going concern, the Company will need, among
         other things, additional capital resources.  Management's plans to
         obtain such resources for the Company include (1) obtaining capital
         from management and significant shareholders sufficient to meet its
         minimal operating expenses, and (2) seeking out and completing a
         merger with an existing operating company.  However, management
         cannot provide any assurances that the Company will be successful in
         accomplishing any of its plans.

         The ability of the Company to continue as a going concern is
         dependent upon its ability to successfully accomplish the plans
         described in the preceding paragraph and eventually secure other
         sources of financing and attain profitable operations.  The
         accompanying financial statements do not include any adjustments that
         might be necessary if the Company is unable to continue as a going
         concern.



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

    The following information should be read in conjunction with the financial
statements and notes thereto appearing elsewhere in this Form 10-QSB.

    The Company is considered a development stage company and presently has no
assets or capital and no significant operations or income.  The costs and
expenses associated with the preparation and filing of its registration
statement in 1998 and subsequent quarterly and annual reports have been paid
for by a shareholder of the Company.  It is anticipated that the Company will
require only nominal capital to maintain the corporate viability of the
Company and necessary funds will most likely be provided by the Company's
officers and directors in the immediate future.  However, unless the Company
is able to facilitate an acquisition of or merger with an operating business
or is able to obtain significant outside financing, there is substantial doubt
about its ability to continue as a going concern.

    In the opinion of management, inflation has not and will not have a
material effect on the operations of the Company until such time as the
Company successfully completes an acquisition or merger.  At that time,
management will evaluate the possible effects of inflation on the Company
related to it business and operations following a successful acquisition or
merger.

Plan of Operation

    During the next 12 months, the Company will actively seek out and
investigate possible business opportunities with the intent to acquire or
merge with one or more business ventures.  Because the Company lacks funds,
it may be necessary for the officers and directors to either advance funds
to the Company or to accrue expenses until such time as a successful business
consolidation can be made.  Management intends to hold expenses to a minimum
and to obtain services on a contingency basis when possible.  Further, the
Company's directors will defer any compensation until such time as an
acquisition or merger can be accomplished and will strive to have the business
opportunity provide their remuneration.  However, if the Company engages
outside advisors or consultants in its search for business opportunities, it
may be necessary for the Company to attempt to raise additional funds.  As of
the date hereof, the Company has not made any arrangements or definitive
agreements to use outside advisors or consultants or to raise any capital.
In the event the Company does need to raise capital, most likely the only
method available to the Company would be the private sale of its securities.
Because of the nature of the Company as a development stage company, it is
unlikely that it could make a public sale of securities or be able to borrow
any significant sum from either a commercial or private lender.  There can be
no assurance that the Company will be able to obtain additional funding when
and if needed, or that such funding, if available, can be obtained on terms
acceptable to the Company.

    The Company does not intend to use any employees, with the possible
exception of part-time clerical assistance on an as-needed basis.  Outside
advisors or consultants will be used only if they can be obtained for minimal
cost or on a deferred payment basis.  Management is confident that it will be
able to operate in this manner and to continue its search for business
opportunities during the next twelve months.

Net Operating Loss

    The Company has accumulated approximately $15,600 of net operating loss
carryforwards as of September 30, 2002, which may be offset against taxable
income and income taxes in future years.  The use of these losses to reduce
future income taxes will depend on the generation of sufficient taxable income
prior to the expiration of the net operating loss carryforwards.  The carry-
forwards expire in the year 2021.  In the event of certain changes in control
of the Company, there will be an annual limitation on the amount of net
operating loss carryforwards which can be used.  No tax benefit has been
reported in the financial statements for the year ended December 31, 2001 and
nine months ended September 30, 2002 because there is a 50% or greater chance
that the carryforward will not be used.  Accordingly, the potential tax
benefit of the loss carryforward is offset by a valuation allowance of the
same amount.

Forward Looking and Cautionary Statements

    Forward-looking statements in this report are made pursuant to the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995.  The Company wishes to advise readers that actual results may differ
substantially from such forward-looking statements.  Forward-looking
statements involve risks and uncertainties that could cause actual results to
differ materially from those expressed in or implied by the statements,
including, but not limited to, the following:  the ability of the Company to
search for appropriate business opportunities and subsequently acquire or
merge with such entity, to meet its cash and working capital needs, the
ability of the Company to maintain its existence as a viable entity, and other
risks detailed in the Company's periodic report filings with the Securities
and Exchange Commission.

Recent Accounting Pronouncements

    In June 2001, the Financial Accounting Standards Board, or FASB, issued
Statement of Financial Accounting Standards (SFAS) 141, Business Combinations,
and SFAS 142, Goodwill and Other Intangible Assets. SFAS 141 requires that the
purchase method of accounting be used for all business combinations initiated
after June 30, 2001 as well as all purchase method business combinations
completed after June 30, 2001.  SFAS 141 also specifies criteria intangible
assets acquired in a purchase method business combination must be recognized
and reported apart from goodwill, noting that any purchase price allocatable
to an assembled workforce may not be accounted for separately.  SFAS 142
requires that goodwill and intangible assets with indefinite useful lives no
longer be amortized, but instead tested for impairment at least annually in
accordance with the provisions of SFAS 142. SFAS 142 also requires that
intangible assets with estimatable useful lives be amortized over their
respective estimated useful lives to their estimated residual values, and
reviewed for impairment in accordance with SFAS No. 121, Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of.
The Company adopted SFAS 141 upon issuance and SFAS 142 effective April 1,
2001. The adoption of SFAS 141 and 142 did not affect the financial statements.

    On August 16, 2001, the FASB issued SFAS No. 143, Accounting for Asset
Retirement Obligations, which is effective for fiscal years beginning after
June 15, 2002. It requires that obligations associated with the retirement of
a tangible long-lived asset be recorded as a liability when those obligations
are incurred, with the amount of the liability initially measured at fair
value.  Upon initially recognizing an accrued retirement obligation, an entity
must capitalize the cost by recognizing an increase in the carrying amount of
the related long-lived asset. Over time, the liability is accreted to its
present value each period, and the capitalized cost is depreciated over the
useful life of the related asset. Upon settlement of the liability, an entity
either settles the obligation for its recorded amount or incurs a gain or
loss upon settlement. Although management has not completed the process of
determining the effect of this new accounting pronouncement, it currently
expects that the effect of SFAS No. 143 the Company's financial statements,
when it becomes effective, will not be significant.

    In October 2001, the FASB issued SFAS 144, Accounting for the Impairment
or Disposal of Long-Lived Assets, which addresses financial accounting and
reporting for the impairment or disposal of long-lived assets. Although SFAS
144 supersedes SFAS 121, it retains many of the fundamental provisions of
SFAS 121.  SFAS 144 also supersedes the accounting and reporting provisions of
Accounting Principles Board Opinion No. 30, Reporting-the Results of
Operations-Reporting the Effects of Disposal of a Segment of a Business, and
Extraordinary, Unusual and Infrequently Occurring Events and Transactions, for
the disposal of a segment of a business. However, it retains the requirement
in APB 30 to report separately discontinued operations and extends that
reporting to a component of an entity that either has been disposed of, by
sale, abandonment, or in a distribution to owners, or is classified as held
for sale.  SFAS 144 is effective for fiscal years beginning after December 15,
2001 and interim periods within those fiscal years.  Management believes the
adoption of SFAS 144 will not have a significant effect on the Company's
financial statements.

    In June 2002, the FASB issued SFAS No. 146, Accounting for Costs
Associated with Exit or Disposal Activities.  SFAS 146 provides financial
accounting and reporting guidance for costs associated with exit or disposal
activities, including one-time termination benefits, contract termination
costs other than for a capital lease, and costs to consolidate facilities or
relocate employees.  This statement is effective for exit or disposal
activities that are initiated after December 31, 2002.  Management does not
believe this pronouncement will have a material effect on the Company's
financial statements.



Item 3.   Controls and Procedures

    Evaluation of Disclosure Controls and Procedures.  Based on their
evaluation, as of a date within 90 days prior to the date of the filing of
this Form 10-QSB, of the effectiveness of the Company's disclosure controls
and procedures, as defined in Rules 13a-14(c) and 15d-14(c) of the Securities
Exchange Act of 1934, the principal executive officer and the principal
financial officer of the Company have each concluded that such disclosure
controls and procedures are effective and sufficient to ensure that
information required to be disclosed by the Company in the reports that it
files or submits under the Exchange Act is recorded, processed, summarized and
reported within the time periods specified by the SEC's rules and forms.

    Changes in Internal Controls.  Subsequent to the date of their evaluation,
there have not been any significant changes in the Company's internal controls
or in other factors that could significantly affect these controls, including
any corrective action with regard to significant deficiencies and material
weaknesses.


PART II

Item 1.  Legal Proceedings

    There are presently no material pending legal proceedings to which the
Company is a party or to which any of its property is subject and, to the best
of its knowledge, no such actions against the Company are contemplated or
threatened.

Item 2.  Changes In Securities

     This Item is not applicable to the Company.

Item 3.  Defaults Upon Senior Securities

    This Item is not applicable to the Company.

Item 4.  Submission of Matters to a Vote of Security Holders

    There were no matters submitted to a vote of the security holders during
the three months ended September 30, 2002.

Item 5.  Other Information

    This Item is not applicable to the Company.

Item 6.  Exhibits and Reports on Form 8-K

   (a) Exhibits

    Exhibit 99.1  Certification of C.E.O. pursuant to 18 U.S.C. Section 1350,
                  as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
                  of 2002

    Exhibit 99.2  Certification of Principal Accounting Officer pursuant to 18
                  U.S.C. Section 1350, as adopted pursuant to Section 906 of
                  the Sarbanes-Oxley Act of 2002

   (b) Reports on Form 8-K

    No report on Form 8-K was filed by the Company during the
three month period ended September 30, 2002.



                            SIGNATURES

    In accordance with the requirements of the Securities Exchange
Act of 1934, the Registrant caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                                   Rako Capital Corporation



Dated:  November 14, 2002        BY: /S/ Geoffrey Williams
                                   --------------------------
                                   Geoffrey Williams
                                   President, Chief Executive
                                   Officer and Director

Dated:  November 14, 2002        BY: /S/ Bobbi Heywood
                                   --------------------------
                                   Bobbi Heywood
                                   Secretary, Principal Accounting
                                   Officer and Director


                                                               Certifications

                         CERTIFICATION PURSUANT TO
                SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Geoff Williams, Chief Executive Officer of Rako Capital Corporation,
(the "Company"), certify that:

     1.  I have reviewed this quarterly report on Form 10-QSB of Rako Capital
     Corporation;

     2.  Based on my knowledge, this quarterly report does not contain any
     untrue statement of a material fact or omit to state a material fact
     necessary to make the statements made, in light of the circumstances
     under which such statements were made, not misleading with respect to
     the period covered by this quarterly report;

     3.  Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and
     cash flows of the registrant as of, and for, the periods presented in
     this quarterly report;

     4.  The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as
     defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
     we have:

         a)  designed such disclosure controls and procedures to ensure that
             material information relating to the registrant, including its
             consolidated subsidiaries, is made known to us by others within
             those entities, particularly during the period in which this
             quarterly report is being prepared;

         b)  evaluated the effectiveness of the registrant's disclosure
             controls and procedures as of a date within 90 days prior to the
             filing date of this quarterly report (the "Evaluation Date"); and

         c)  presented in this quarterly report our conclusions about the
             effectiveness of the disclosure controls and procedures based on
             our evaluation as of the Evaluation Date;

     5.  The registrant's other certifying officers and I have disclosed,
     based on our most recent evaluation, to the registrant's auditors and the
     audit committee of registrant's board of directors (or persons performing
     the equivalent function):

         a)  all significant deficiencies in the design or operation of
             internal controls which could adversely affect the registrant's
             ability to record, process, summarize and report financial data
             and have identified for the registrant's auditors any material
             weaknesses in internal controls; and

         b)  any fraud, whether or not material, that involves management or
             other employees who have a significant role in the registrant's
             internal controls; and

     6.  The registrant's other certifying officers and I have indicated in
     this quarterly report whether or not there were significant changes in
     internal controls or in other factors that could significantly affect
     internal controls subsequent to the date of our most recent evaluation,
     including any corrective actions with regard to significant deficiencies
     and material weaknesses.

Date:  November 14, 2002
/s/Geoff Williams
----------------------
Geoff Williams
Chief Executive Officer

                         CERTIFICATION PURSUANT TO
                SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Bobbi Heywood, Principal Accounting Officer of Rako Capital
Corporation, (the "Company"), certify that:

     1.  I have reviewed this quarterly report on Form 10-QSB of Rako Capital
     Corporation;

     2.  Based on my knowledge, this quarterly report does not contain any
     untrue statement of a material fact or omit to state a material fact
     necessary to make the statements made, in light of the circumstances
     under which such statements were made, not misleading with respect to
     the period covered by this quarterly report;

     3.  Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and
     cash flows of the registrant as of, and for, the periods presented in
     this quarterly report;

     4.  The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as
     defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
     we have:

         a)  designed such disclosure controls and procedures to ensure that
             material information relating to the registrant, including its
             consolidated subsidiaries, is made known to us by others within
             those entities, particularly during the period in which this
             quarterly report is being prepared;

         b)  evaluated the effectiveness of the registrant's disclosure
             controls and procedures as of a date within 90 days prior to the
             filing date of this quarterly report (the "Evaluation Date"); and

         c)  presented in this quarterly report our conclusions about the
             effectiveness of the disclosure controls and procedures based on
             our evaluation as of the Evaluation Date;

     5.  The registrant's other certifying officers and I have disclosed,
     based on our most recent evaluation, to the registrant's auditors and the
     audit committee of registrant's board of directors (or persons performing
     the equivalent function):

         a)  all significant deficiencies in the design or operation of
             internal controls which could adversely affect the registrant's
             ability to record, process, summarize and report financial data
             and have identified for the registrant's auditors any material
             weaknesses in internal controls; and

         b)  any fraud, whether or not material, that involves management or
             other employees who have a significant role in the registrant's
             internal controls; and

     6.  The registrant's other certifying officers and I have indicated in
     this quarterly report whether or not there were significant changes in
     internal controls or in other factors that could significantly affect
     internal controls subsequent to the date of our most recent evaluation,
     including any corrective actions with regard to significant deficiencies
     and material weaknesses.

Date:  November 14, 2002


/s/Bobbi Heywood
----------------------
Bobbi Heywood
Principal Accounting Officer



Exhibit 99.1

                        CERTIFICATION PURSUANT TO
                         18 U.S.C. SECTION 1350,
                         AS ADOPTED PURSUANT TO
               SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

     In connection with the Quarterly Report of Rako Capital Corporation (the
"Company") on Form 10-QSB for the period ending September 30, 2002, as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
Geoffrey Williams, Chief Executive Officer of the Company, certifies, pursuant
to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-
Oxley Act of 2002, that:

     (1)  The Report fully complies with the requirements of Section 13(a) or
          15(d) of the Securities Exchange Act of 1934; and

     (2)  The information contained in the Report fairly presents, in all
          material respects, the financial condition and result of operations
          of the Company.


/s/   Geoffrey Williams

Geoffrey Williams
Chief Executive Officer
November 14, 2002






                                                                Exhibit 99.2

                          CERTIFICATION PURSUANT TO
                           18 U.S.C. SECTION 1350,
                           AS ADOPTED PURSUANT TO
                SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

    In connection with the Quarterly Report of Rako Capital Corporation (the
"Company") on Form 10-QSB for the period ending September 30, 2002, as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
Bobbi Heywood, Principal Accounting Officer of the Company, certifies,
pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the
Sarbanes-Oxley Act of 2002, that:

     (1)  The Report fully complies with the requirements of Section 13(a) or
          15(d) of the Securities Exchange Act of 1934; and

     (2)  The information contained in the Report fairly presents, in all
          material respects, the financial condition and result of operations
          of the Company.


/s/   Bobbi Heywood

Bobbi Heywood
Principal Accounting Officer
November 14, 2002