SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB


(Mark One)

[x]  Quarterly  report  pursuant  to  section  13 or 15 (d)  of  the  Securities
     Exchange Act of 1934 for the quarterly period ended December 31, 2000

[    ]  Transition  report  pursuant  to section  13 or 15(d) of the  Securities
     Exchange  Act  for  the  transition  period  from  ____________________  to
     ____________________

         Commission File Number 000-28535


                            ARCADIA INVESTMENTS, INC.
                   ------------------------------------------
        (Exact name of small business issuer as specified in its charter)

          Wyoming                                         86-096997
(State or other jurisdiction of               (IRS Employer Identification No.)
 incorporation or organization)


                     110 E. 55th Street, New York, NY 10022
                    (Address of principal executive offices)

                                 (212) 906-8155
                           (Issuer's telephone number)

                   5505 N. Indian Trail, Tuscon, Arizona 85750
                                (Former address)

     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 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
                                          ---------

     The  number  of  outstanding  shares  of the  issuer's  common  stock as of
December 31, 2000 was 10,200,000 shares $ .001 par value common stock.

     Transitional Small Business Disclosure Format (check one) Yes No X



<PAGE>


                                TABLE OF CONTENTS

                         PART I - FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS..................................................3

         Balance Sheets as of December 31, 2000................................5

         Statements of Operations
           for the Three Month Periods Ended
           December 31, 2000 and 1999..........................................6

         Statements of Cash Flows
           for the Three Month Periods Ended
           December 31, 2000 and 1999..........................................7

         Notes to Financial Statements.........................................8


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS.................................10


                           PART II - OTHER INFORMATION

ITEM 1  LEGAL PROCEEDINGS.....................................................12

ITEM 2  MANAGEMENT'S DISCUSSION AND ANALYSIS..................................12

ITEM 5  OTHER INFORMATION.....................................................12


INDEX TO EXHIBITS.............................................................14



                 [THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK]
                                       2

<PAGE>


                                     PART I


ITEM 1.  FINANCIAL STATEMENTS

     As used herein, the term "Company" refers to Arcadia  Investments,  Inc., a
Wyoming  corporation,  and its subsidiaries  and  predecessors  unless otherwise
indicated. Unaudited, condensed interim financial statements including a balance
sheet for the Company as the quarter ended  December 31, 2000 and  statements of
operations and statements of cash flows for the interim period up to the date of
such balance sheet and the comparable period of the preceding year.



                 [THIS SPACE HAS BEEN LEFT BLANK INTENTIONALLY]

                                       3

<PAGE>



                         INDEPENDENT ACCOUNTANT'S REPORT


Arcadia Investments, Inc.
(a development stage company)

     We have reviewed the  accompanying  balance  sheet of Arcadia  Investments,
Inc. (a  development  stage  company) as of December 31, 2000 and  September 30,
2000,  and the related  statements  of  operations  and cash flows for the three
month periods ended December 31, 2000 and 1999.  These financial  statements are
the responsibility of the Company's management.

     We conducted our review in accordance  with  standards  established  by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data and making  inquiries of persons  responsible  for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the expression of an opinion regarding the financial statement taken as a whole.
Accordingly, we do not express such an opinion.

     Based on our review,  we are not aware of any material  modifications  that
should  be made  to the  accompanying  financial  statements  for  them to be in
conformity with generally accepted accounting principles.

                                           Respectfully submitted



                                           /s/ Robison, Hill & Co.
                                           Certified Public Accountants

Salt Lake City, Utah
February 6, 2001




                                       4





<PAGE>


                            ARCADIA INVESTMENTS, INC.
                          (A Development Stage Company)
                                 BALANCE SHEETS

                                                      December 31, September 30,
                                                              2000         2000

Assets: ..............................................    $   --       $   --
                                                          ========     ========
LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable & Accrued Expenses ..................    $  3,515     $  6,836
                                                          --------     --------


Stockholders' Equity:

  Common Stock, Par value $.001
    Authorized 100,000,000 shares,
    Issued 10,200,000 Shares at December 31, 2000
    and 10,000,000 Shares at September 30, 2000 ......      10,200       10,000
  Paid-In Capital ....................................      16,803        5,730
  Retained Deficit ...................................     (10,075)     (10,075)
  Deficit Accumulated During the
    Development Stage ................................     (20,443)     (12,491)
                                                          --------     --------
     Total Stockholders' Equity ......................      (3,515)      (6,836)
                                                          --------     --------

     Total Liabilities and
       Stockholders' Equity ..........................    $   --       $   --
                                                          ========     ========












                 See accompanying notes and accountants' report.

                                      5

<PAGE>



                            ARCADIA INVESTMENTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>

                                                                       Cumulative
                                                                       since October
                                                 For the Three Months  20, 1999
                                                     Ended             Inception of
                                                   December 31,        Development
                                                  2000       1999         Stage
                                               -------      -----      --------
<S>                                            <C>          <C>        <C>
Revenues .................................     $  --        $--        $   --

Expenses
  General and Administrative .............       7,952        930        20,443

       Net Loss ..........................     $(7,952)     $(930)     $(20,443)
                                               =======      =====      ========

Basic & Diluted loss per share                 $  --        $--
                                               =======      =====
</TABLE>






















                 See accompanying notes and accountants' report.


                                      6

<PAGE>





                            ARCADIA INVESTMENTS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>


                                                                       Cumulative
                                                                       since October
                                                                       20, 1999
                                          For the three months ended   Inception of
                                                       December 31,    Development
                                                      2000     1999      Stage
CASH FLOWS FROM OPERATING                           --------   -----   --------
ACTIVITIES:
<S>                                                 <C>        <C>     <C>
Net Loss .........................................  $ (7,952)  $(930)  $(20,443)
Adjustments to reconcile net loss to net cash
Provided by operating activities
   Common Stock Issued for Services ..............       200    --          200
Increase (Decrease) in:
  Accounts Payable & Accrued Expenses ............    (3,321)   --        3,515
                                                    --------   -----    -------
  Net Cash Used in operating activities ..........   (11,073)   (930)   (16,728)
                                                    --------   -----    -------
CASH FLOWS FROM INVESTING
ACTIVITIES:
Net cash provided by
  investing activities ...........................      --      --         --
                                                    --------   -----    -------
CASH FLOWS FROM FINANCING
ACTIVITIES:
Capital contributed by shareholder ...............    11,073     930     16,728
                                                    --------   -----    -------
Net Cash Provided by
  Financing Activities ...........................    11,073     930     16,728
                                                    --------   -----    -------
Net (Decrease) Increase in
  Cash and Cash Equivalents ......................      --      --         --
Cash and Cash Equivalents
  at Beginning of Period .........................      --      --         --
                                                    --------   -----   --------
Cash and Cash Equivalents
  at End of Period ...............................  $   --     $--     $   --
                                                    ========   =====   ========

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for:
  Interest .......................................  $   --     $--     $   --
  Franchise and income taxes .....................  $   --     $--     $   --
</TABLE>

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: None



          See accompanying notes and accountants' report.
                                       7



<PAGE>







                            ARCADIA INVESTMENTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
          FOR THE THREE MONTH PERIODS ENDED DECEMBER 31, 2000 AND 1999


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     This  summary of  accounting  policies  for  Arcadia  Investments,  Inc. (a
development stage company) is presented to assist in understanding the Company's
financial  statements.  The accounting  policies  conform to generally  accepted
accounting  principles and have been consistently  applied in the preparation of
the financial statements.

Interim Reporting

     The  unaudited  financial  statements  as of December  31, 2000 and for the
three  month  period  then ended  reflect,  in the  opinion of  management,  all
adjustments  (which  include  only normal  recurring  adjustments)  necessary to
fairly  state the  financial  position and results of  operations  for the three
months.  Operating results for interim periods are not necessarily indicative of
the results which can be expected for full years.

Organization and Basis of Presentation

     The  Company  was  incorporated  under the laws of the State of  Wyoming on
August 2, 1996.  The Company ceased all operating  activities  during the period
from  August 2, 1996 to  October  20,  1999 and was  considered  dormant.  Since
October 20, 1999, the Company is in the development stage, and has not commenced
planned principal operations.

Nature of Business

     The Company has no products  or  services  as of  December  31,  2000.  The
Company was organized as a vehicle to seek merger or acquisition candidates. The
Company intends to acquire interests in various business opportunities, which in
the opinion of management will provide a profit to the Company.

Cash and Cash Equivalents

     For purposes of the  statement  of cash flows,  the Company  considers  all
highly liquid debt instruments purchased with a maturity of three months or less
to be cash equivalents to the extent the funds are not being held for investment
purposes.

                                      -8-
<PAGE>




                            ARCADIA INVESTMENTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
          FOR THE THREE MONTH PERIODS ENDED DECEMBER 31, 2000 AND 1999
                                   (Continued)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
--------------------------------------------------------------------------------

Pervasiveness of Estimates

     The  preparation  of financial  statements  in  conformity  with  generally
accepted  accounting  principles  required  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  amounts  of  revenues  and  expenses  during  the
reporting  period.  Actual results could differ from those  estimates.  Loss per
Share

     The  reconciliations  of the numerators and  denominators of the basic loss
per share computations are as follows:
<TABLE>
<CAPTION>

                                        Three Months Ended                   Three Months Ended
                                         December 31, 2000                    December 31, 1999
                                           Number                                Number
                                           of             Loss                   of           Loss
                               Loss        Shares         Per       Loss         Shares       Per
                             (numerator)  (denominator)   Share    (numerator)  (denominator) Share
Loss to Common
<S>                          <C>           <C>         <C>         <C>          <C>         <C>
 Shareholders ...............$    (7,952)  10,200,000  $     --    $     (930)  10,000,000  $ --
                             ===========   ==========  ==========  ==========   ==========  ======
</TABLE>


     The effect of outstanding  common stock  equivalents would be anti-dilutive
for December 31, 2000 and 1999 and are thus not considered.

NOTE 2 - INCOME TAXES

     As of December 31, 2000, the Company had a net operating loss  carryforward
for income tax reporting  purposes of  approximately  $21,000 that may be offset
against future taxable income through 2011. Current tax laws limit the amount of
loss  available to be offset  against  future  taxable income when a substantial
change in ownership  occurs.  Therefore,  the amount  available to offset future
taxable income may be limited. No tax benefit has been reported in the financial
statements,  because the Company  believes  there is a 50% or greater chance the
carryforwards will expire unused. Accordingly, the potential tax benefits of the
loss carryforwards are offset by a valuation allowance of the same amount.


                                      -9-
<PAGE>


                            ARCADIA INVESTMENTS, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
          FOR THE THREE MONTH PERIODS ENDED DECEMBER 31, 2000 AND 1999
                                   (Continued)

NOTE 3 - DEVELOPMENT STAGE COMPANY

     The  Company  has not begun  principal  operations  and as is common with a
development  stage  company,  the Company has had  recurring  losses  during its
development stage.

NOTE 4 - COMMITMENTS

     As of December 31, 2000 all  activities of the Company have been  conducted
by corporate  officers from either their homes or business  offices.  Currently,
there  are no  outstanding  debts  owed by the  company  for  the  use of  these
facilities and there are no commitments for future use of the facilities.

NOTE 5 - STOCK SPLIT

     On October  20,  1999 the Board of  Directors  authorized  1,000 to 1 stock
split, changed the authorized number of shares to 100,000,000 shares and the par
value to $.001 for the Company's common stock. As a result of the split, 999,000
shares were issued. All references in the accompanying  financial  statements to
the number of common shares and per-share amounts for 1999 have been restated to
reflect the stock split.

     On November  15,  2000,  the Company  declared a 10 to 1 stock split of its
shares of common  stock,  par value  $.001 per share.  As a result of the split,
9,000,000 shares were issued and Retained  Deficit was increased by $9,000.  All
references in the accompanying  financial  statements to number of common shares
and per-share  amounts for 2000 and 1999 have been restated to reflect the stock
split.

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

     This Quarterly Report contains certain  forward-looking  statements  within
the  meaning of Section  27A of the  Securities  Act of 1933,  as  amended,  and
Section  21E of the  Securities  Exchange  Act of 1934,  as  amended,  which are
intended  to be covered  by the safe  harbors  created  thereby.  Investors  are
cautioned that all  forward-looking  statements  involve risks and  uncertainty,
including  without  limitation,  the  ability of the  Company to  implement  its
business plans and objectives, as well as general market conditions, competition
and pricing.  Although the Company believes that the assumptions  underlying the
forward-looking   statements  contained  herein  are  reasonable,   any  of  the
assumptions could be inaccurate,  and therefore,  there can be no assurance that
the  forward-looking  statements included in this Quarterly Report will prove to
be  accurate.  In  light  of  the  significant  uncertainties  inherent  in  the
forward-looking  statements  including herein, the inclusion of such information
should not be regarded as are  presentation  by the Company or any other  person
that the objectives and plans of the Company will be achieved.


                                      -10-
<PAGE>

     As used herein the term "Company"  refers to Arcadia  Investments,  Inc., a
Wyoming   corporation  and  its  predecessors,   unless  the  context  indicates
otherwise.  The Company is currently a shell company whose purpose is to acquire
operations  through  an  acquisition  or  merger  or to begin  its own  start-up
business.

     The  Company is in the  process of  attempting  to  identify  and acquire a
favorable business opportunity.  The Company has reviewed and evaluated a number
of business  ventures for possible  acquisition or participation by the Company.
The Company has not entered into any agreement,  nor does it have any commitment
or understanding to enter into or become engaged in a transaction as of the date
of this filing.  The Company  continues  to  investigate,  review,  and evaluate
business  opportunities  as they  become  available  and will seek to acquire or
become engaged in business  opportunities at such time as specific opportunities
warrant.

Results of Operations

     The  Company  had no sales or sales  revenues  for the three  months  ended
December  31, 2000  because it is a shell  company that has not had any business
operations for the past three years.

     The  Company  had no costs of sales  revenues  for the three  months  ended
December  31, 2000  because it is a shell  company that has not had any business
operations  for the past three  years.  The  Company  had $7,952 in general  and
administrative  expenses for the three  months ended  December 31, 2000 and $930
for the same periods in 1999.

     The  Company  recorded  a net loss of  $7,952  for the three  months  ended
December 31, 2000 compared to $930 loss for the same periods in 1999.

Capital Resources and Liquidity

     At December 31, 2000,  the Company had total current assets of $0 and total
assets  of $0.  The  Company  had a net  working  capital  deficit  of $3,515 at
December 31, 2000.

Net stockholders' deficit in the Company was $3,515 as of December 31, 2000.




                            PART II-OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

None


                                      -11-
<PAGE>


ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

(c)  Recent Sales of Unregistered Securities:

     On November  20,  2000,  the  Company  issued to  Corporate  Communications
Network, Inc. 200,000 shares of its common stock pursuant to Section 4(2) of the
Act for services rendered.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None/Not Applicable.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

None/Not Applicable.

ITEM 5.  OTHER INFORMATION

None.

ITEM 6.  EXHIBITS

(a)      Exhibits.

       Exhibit Number                                               Description


     3.1* Articles of Incorporation of Arcadia Investments, Inc. filed August 2,
          1996  (incorporated  by  reference  to  Exhibit 1 to our  registration
          statement  on Form  10SB-12G  filed on  December  17,  1999  (file no.
          000-28535)).


     3.2* Certificate Amending Articles of Incorporation of Arcadia Investments,
          Inc. filed


     3.3* Bylaws of Arcadia  Investments,  Inc.  (incorporated  by  reference to
          Exhibit 3 to our


     4    Reference is made to Exhibits 3.1, 3.2 and 3.3.

----------------------------------------------
*  Incorporated by reference.

     (b)  Reports  on Form 8-K.  A 10 to 1 stock  split of  Company's  shares of
          common  stock,  par value  $.001 per share was  reported on a Form 8-K
          which was filed on November 15, 2000.


                                      -12-
<PAGE>



                                   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, this 30 day of March, 2001

Arcadia Investments, Inc.


/s/   Jeong S. Park
      Jeong S. Park                                           March 30, 2001
      President and Director


                                      -13-