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

                                   FORM 10 QSB

             Quarterly Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


            For the quarterly period ended           March 31, 2005

            Commission file Number                   000-30383


                      Gridline Communications Holdings INC.
                 (Name of small business issuer in its charter)


       DELAWARE                       000-30383                 54-1964054
-----------------------         ---------------------      ---------------------
     (State of                  (Commission File No.)      (IRS Employer ID No.)
     Incorporation)


                        14090 Southwest Frwy., Suite 300,
                               Sugarland, TX 77478
               --------------------------------------------------
                    (Address of Principal Executive Offices)


                                 (281) 340-8518
               --------------------------------------------------


                          North Shore Capital IV, Inc.
                              2208 Pershing Avenue
                               Sheboygan, WI 53083
                                 (920)-207-7772
         (Former name or former address, if changed since last report.)



NOTICE:

Effective as of December 13, 2004, North Shore Capital IV Inc., a Colorado
corporation , entered into a Share Exchange and Reorganization Agreement with
Gridline Communications Corp., a Delaware corporation, and the beneficial
holders thereof, which sets forth the terms and conditions of the business
combination of the Registrant and Gridline in which all Gridline Stockholders
exchange every 2.03151261 shares of Gridline common stock, par value $.0001 per
share, held by them for one share of common stock, par value $0.001 per share,
of the Registrant's successor in interest resulting from the Registrant's
proposed reincorporation in Delaware. The Registrant is effecting such
transaction based upon the exemption from registration afforded by Section 4(2)
of the Securities Act of 1933, as amended. As a result of the Transaction,
Gridline shall become a wholly-owned subsidiary of the Registrant, and
stockholders of Gridline shall become the controlling stockholders of NSC. All
options, warrants exercisable for, and securities convertible into, shares of
Gridline common stock shall, upon the Closing of the Transaction, be exercisable
for such number of shares of NSC Common Stock as the holder thereof would have
received if such options and warrants had been exercised, or such convertible
securities converted, immediately prior to such Closing. The exercise price of
such options and warrants, and the conversion price of such convertible
securities shall be adjusted by multiplying such price by the Exchange Ratio.



Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 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 [  ]

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practical date:

Common Stock, No Par Value - 2,247,500 shares as of March 31, 2005.

<PAGE>

                           FORWARD-LOOKING INFORMATION

THIS FORM 10QSB AND OTHER STATEMENTS ISSUED OR MADE FROM TIME TO TIME BY NORTH
SHORE CAPITAL IV, INC. (THE "COMPANY") OR ITS REPRESENTATIVES CONTAIN STATEMENTS
WHICH MAY CONSTITUTE "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE
SECURITIES ACT OF 1933 AND THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED BY
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FIFTEEN U.S.C.A. SECTIONS
77Z-2 AND 78U-5 (SUPP. 1996). THOSE STATEMENTS INCLUDE STATEMENTS REGARDING THE
INTENT, BELIEF OR CURRENT EXPECTATIONS OF THE COMPANY AND MEMBERS OF ITS
MANAGEMENT TEAM AS WELL AS THE ASSUMPTIONS ON WHICH SUCH STATEMENTS ARE BASED.

PROSPECTIVE INVESTORS ARE CAUTIONED THAT ANY SUCH FORWARD-LOOKING STATEMENTS ARE
NOT GUARANTEES OF FUTURE PERFORMANCE AND INVOLVE RISKS AND UNCERTAINTIES, AND
THAT ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED BY SUCH
FORWARD-LOOKING STATEMENTS. IMPORTANT FACTORS CURRENTLY KNOWN TO MANAGEMENT THAT
COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN FORWARD- LOOKING
STATEMENTS ARE SET FORTH IN THE SAFE HARBOR COMPLIANCE STATEMENT FOR
FORWARD-LOOKING STATEMENTS INCLUDED AS EXHIBIT 99.1 TO THIS FORM 10QSB AND ARE
HEREBY INCORPORATED HEREIN BY REFERENCE. THE COMPANY UNDERTAKES NO OBLIGATION TO
UPDATE OR REVISE FORWARD-LOOKING STATEMENTS TO REFLECT CHANGED ASSUMPTIONS, THE
OCCURRENCE OF UNANTICIPATED EVENTS OR CHANGES TO FUTURE OPERATING RESULTS OVER
TIME.


                                       1
<PAGE>

RISK FACTORS

(These risk factors should be assessed in light of the Company's announcement,
referenced above, regarding the Company's agreement with Gridline, insofar as
the agreement mitigates or disposes of certain factors.)

1. The majority control by the Company's Principal Shareholders, Officers and
   Directors may negatively impact the operation of the Company.

The Company's principal shareholders, officers and directors will beneficially
own ninety-eight percent (98%) of the Company's Common Stock. As a result, such
persons will have the ability to control the Company and direct its affairs and
business. Such concentration of ownership may also have the effect of delaying,
deferring or preventing change in control of the Company.
See "Principal Stockholders."

2. Conflicts of interest between the Company and its officer and director may
   impede the operational ability of the Company.

Certain conflicts of interest exist between the Company and its officer and
director. He has other business interests to which he devotes his attention, and
he may be expected to continue to do so although management time should be
devoted to the business of the Company. As a result, conflicts of interest may
arise that can be resolved only through his exercise of such



                                       2
<PAGE>

judgment as is consistent with his fiduciary duties to the Company. See
"Management," and "Conflicts of Interest."

The Company's President and all current shareholders own all of the issued and
outstanding stock of one (1) additional corporation (North Shore Capital II)
which are shell companies formed February 3, 1999. The Form 10-SB registration
statements of North Shore Capital II and IV may become effective by lapse of
time on or about June 17, 2000. (See "Item 5. Directors, Executive Officers,
Promoters, and Control Persons---Other Blind Pool Activities.") Thus, the
Company may be in competition with North Shore Capital II in seeking merger
candidates.

The Company's Director may also elect, in the future, to form one or more
additional public shell companies with a business plan similar or identical to
that of the Company. Any such additional shell companies would also be in direct
competition with the Company for available business opportunities. (See Item 5 -
"Directors, Executive Officers, Promoters and Control Persons- Conflicts of
Interest.")

It is anticipated that Company's President may actively negotiate or otherwise
consent to the purchase of a portion of his common stock as a condition to, or
in connection with, a proposed merger or acquisition transaction. In this
process, the Company's President may consider his own personal pecuniary benefit
rather than the best interests of other Company shareholders, and the other
Company shareholders are not expected to be afforded the opportunity to approve
or consent to any particular stock buy-out transaction. See "Conflicts of
Interest."

3. The possible need for additional financing may impair the Company's ability
   to locate the best available business opportunity.

The Company has very limited funds, and such funds may not be adequate to take
advantage of any available business opportunities. Even if the Company's funds
prove to be sufficient to acquire an interest in, or complete a transaction
with, a business opportunity, the Company may not have enough capital to exploit
the opportunity. The ultimate success of the Company may depend upon its ability
to raise additional capital. The Company has not investigated the availability,
source, or terms that might govern the acquisition of additional capital and
will not do so until it determines a need for additional financing.

If additional capital is needed, there is no assurance that funds will be
available from any source or, if available, that they can be obtained on terms
acceptable to the Company. If not available, the Company's operations will be
limited to those that can be financed with its modest capital.

4. The regulation of Penny Stocks may negatively impact the potential trading
   market for the Company's securities.

The Company's securities, when available for trading, will be subject to a
Securities and Exchange Commission rule that imposes special sales practice
requirements upon broker-dealers who sell such securities to persons other



                                       3
<PAGE>

than established customers or accredited investors. For purposes of the rule,
the phrase "accredited investors" means, in general terms, institutions with
assets in excess of $5,000,000, or individuals having a net worth in excess of
$1,000,000 or having an annual income that exceeds $200,000 (or that, when
combined with a spouse's income, exceeds $300,000). For transactions covered by
the rule, the broker-dealer must make a special suitability determination for
the purchaser and receive the purchaser's written agreement to the transaction
prior to the sale. Consequently, the rule may affect the ability of
broker-dealers to sell the Company's securities and also may affect the ability
of purchasers in this offering to sell their securities in any market that might
develop therefor.

In addition, the Securities and Exchange Commission has adopted a number of
rules to regulate "penny stocks." Such rules include Rules 3a51-1, 15g-1, 15g-2,
15g-3, 15g-4, 15g-5, 15g-6, and 15g-7 under the Securities Exchange Act of 1934,
as amended. Because the securities of the Company may constitute "penny stocks"
within the meaning of the rules, the rules would apply to the Company and to its
securities. The rules may further affect the ability of owners of Shares to sell
the securities of the Company in any market that might develop for them.

Shareholders should be aware that, according to Securities and Exchange
Commission Release No. 34-29093, the market for penny stocks has suffered in
recent years from patterns of fraud and abuse.

Such patterns include (i) control of the market for the security by one or a few
broker-dealers that are often related to the promoter or issuer; (ii)
manipulation of prices through prearranged matching of purchases and sales and
false and misleading press releases; (iii) "boiler room" practices involving
high-pressure sales tactics and unrealistic price projections by inexperienced
sales persons; (iv) excessive and undisclosed bid-ask differentials and markups
by selling broker-dealers; and (v) the wholesale dumping of the same securities
by promoters and broker-dealers after prices have been manipulated to a desired
level, along with the resulting inevitable collapse of those prices and with
consequent investor losses.

5. The Company's limited operating history may severely impact its ability to
   operate and locate the best available business opportunity.

The Company was formed in February of 1999 for the purpose of registering its
common stock under the 1934 Act and acquiring a business opportunity. The
Company has no operating history, revenues from operations, or assets other than
cash from private sales of stock. The Company faces all of the risks of a new
business and the special risks inherent in the investigation, acquisition, or
involvement in a new business opportunity. The Company must be regarded as a new
or "start-up" venture with all of the unforeseen costs, expenses, problems, and
difficulties to which such ventures are subject.



                                       4
<PAGE>

6. There can be no assurance of the Company's potential success or
   profitability.

There is no assurance that the Company will acquire a favorable business
opportunity. Even if the Company should become involved in a business
opportunity, there is no assurance that it will generate revenues or profits, or
that the market price of the Company's Common Stock will be increased thereby.

7. Reporting Requirements May Delay Or Preclude Acquisition.

Section 13 of the Securities Exchange Act of 1934 (the "Exchange Act"), requires
companies subject thereto to provide certain information about significant
acquisitions, including certified financial statements for the company acquired,
covering one or two years, depending on the relative size of the acquisition.
The time and additional costs that may be incurred by some target entities to
prepare such statements may significantly delay or essentially preclude
consummation of an otherwise desirable acquisition by the Company. Acquisition
prospects that do not have or are unable to obtain the required audited
statements may not be appropriate for acquisition so long as the reporting
requirements of the 1934 Act are applicable.

8. The Company lacks market research and marketing organization.

The Company has neither conducted, nor have others made available to it, results
of market research indicating that market demand exists for the transactions
contemplated by the Company. Moreover, the Company does not have, and does not
plan to establish, a marketing organization. Even in the event demand is
identified for a merger or acquisition contemplated by the Company, there is no
assurance the Company will be successful in completing any such business
combination.

9. The Company's potential business opportunity - Has not been identified and
   will be highly risky

The Company has not identified and has no commitments to enter into or acquire a
specific business opportunity and therefore can disclose the risks and hazards
of a business or opportunity that it may enter into in only a general manner,
and cannot disclose the risks and hazards of any specific business or
opportunity that it may enter into. An investor can expect a potential business
opportunity to be quite risky. The Company's acquisition of or participation in
a business opportunity will likely be highly illiquid and could result in a
total loss to the Company and its stockholders if the business or opportunity
proves to be unsuccessful. See Item 1 "Description of Business."

10. The type of business acquired may be unprofitable or present other negative
    factors.

The type of business to be acquired may be one that desires to avoid effecting
its own public offering and the accompanying expense, delays, uncertainties, and
federal and state requirements which purport to protect investors. Because of
the Company's limited capital, it is more likely than



                                       5
<PAGE>

not that any acquisition by the Company will involve other parties whose primary
interest is the acquisition of control of a publicly traded company. Moreover,
any business opportunity acquired may be currently unprofitable or present other
negative factors.

11. The Company may not be able to conduct an exhaustive investigation and
    analysis of potential business opportunities.

The Company's limited funds and the lack of full-time management will likely
make it impracticable to conduct a complete and exhaustive investigation and
analysis of a business opportunity before the Company commits its capital or
other resources thereto. Management decisions, therefore, will likely be made
without detailed feasibility studies, independent analysis, market surveys and
the like which, if the Company had more funds available to it, would be
desirable. The Company will be particularly dependent in making decisions upon
information provided by the promoter, owner, sponsor, or others associated with
the business opportunity seeking the Company's participation.

A significant portion of the Company's available funds may be expended for
investigative expenses and other expenses related to preliminary aspects of
completing an acquisition transaction, whether or not any business opportunity
investigated is eventually acquired.

12. The Company may lack diversification.

Because of the limited financial resources that the Company has, it is unlikely
that the Company will be able to diversify its acquisitions or operations. The
Company's probable inability to diversify its activities into more than one area
will subject the Company to economic fluctuations within a particular business
or industry and therefore increase the risks associated with the Company's
operations.

13. The Company may have to rely upon unaudited financial statements of a
    potential business opportunity.

The Company generally will require audited financial statements from companies
that it proposes to acquire. No assurance can be given, however, that audited
financials will be available to the Company. In cases where audited financials
are unavailable, the Company will have to rely upon unaudited information
received from target companies' management that has not been verified by outside
auditors. The lack of the type of independent verification which audited
financial statements would provide, increases the risk that the Company, in
evaluating an acquisition with such a target company, will not have the benefit
of full and accurate information about the financial condition and operating
history of the target company. This risk increases the prospect that the
acquisition of such a company might prove to be an unfavorable one for the
Company or the holders of the Company's securities.

Moreover, the Company will be subject to the reporting provisions of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), and thus will
be required to furnish certain information about significant acquisitions,
including audited financial statements for any business that it acquires.
Consequently, acquisition prospects that do not have, or are unable to provide
reasonable assurances that they will be able to obtain, the required audited
statements would not be considered by the Company to be appropriate for
acquisition so long as the reporting requirements of the Exchange Act are
applicable. Should the Company, during the time it remains



                                       6
<PAGE>

subject to the reporting provisions of the Exchange Act, complete an acquisition
of an entity for which audited financial statements prove to be unobtainable,
the Company would be exposed to enforcement actions by the Securities and
Exchange Commission (the "Commission") and to corresponding administrative
sanctions, including permanent injunctions against the Company and its
management. The legal and other costs of defending a Commission enforcement
action are likely to have material, adverse consequences for the Company and its
business. The imposition of administrative sanctions would subject the Company
to further adverse consequences.

In addition, the lack of audited financial statements would prevent the
securities of the Company from becoming eligible for listing on NASDAQ, the
automated quotation system sponsored by the National Association of Securities
Dealers, Inc., or on any existing stock exchange. Moreover, the lack of such
financial statements is likely to discourage broker-dealers from becoming or
continuing to serve as market makers in the securities of the Company. Without
audited financial statements, the Company would almost certainly be unable to
offer securities under a registration statement pursuant to the Securities Act
of 1933, and the ability of the Company to raise capital would be significantly
limited until such financial statements were to become available.

14. Government, State or Local regulations may limit the Company's business
    opportunities.

An acquisition made by the Company may be of a business that is subject to
regulation or licensing by federal, state, or local authorities. Compliance with
such regulations and licensing can be expected to be a time-consuming, expensive
process and may limit other investment opportunities of the Company.

15. There will be a limited participation by Management in the daily operations
    of the Company.

The Company currently has one individual who is serving as its sole officer and
director. The Company will be heavily dependent upon his skills, talents, and
abilities to implement its business plan, and may, from time to time, find that
the inability of the officer and director to devote his full time attention to
the business of the Company results in a delay in progress toward implementing
its business plan. Furthermore, since only one individual is serving as the
officer and director of the Company, it will be entirely dependent upon his
experience in seeking, investigating, and acquiring a business and in making
decisions regarding the Company's operations. See "Management." Because
investors will not be able to evaluate the merits of possible business
acquisitions by the Company, they should critically assess the information
concerning the Company's officer and director.


                                       7
<PAGE>

16. There is a lack of continuity in the Management of the Company.

The Company does not have an employment agreement with its officer and director,
and as a result, there is no assurance that he will continue to manage the
Company in the future. In connection with acquisition of a business opportunity,
it is likely the current officer and director of the Company may resign. A
decision to resign will be based upon the identity of the business opportunity
and the nature of the transaction, and is likely to occur without the vote or
consent of the stockholders of the Company.

17. The Company's required indemnification of its Officers and Directors may
    negatively impact its operation.

The Company's Articles of Incorporation provide for the indemnification of its
directors, officers, employees, and agents, under certain circumstances, against
attorney's fees and other expenses incurred by them in any litigation to which
they become a party arising from their association with or activities on behalf
of the Company. The Company will also bear the expenses of such litigation for
any of its directors, officers, employees, or agents, upon such person's promise
to repay the Company therefor if it is ultimately determined that any such
person shall not have been entitled to indemnification. This indemnification
policy could result in substantial expenditures by the Company which it will be
unable to recoup.

18. The Company's Directors have potentially limited liability.

The Company's Articles of Incorporation exclude personal liability of its
directors to the Company and its stockholders for monetary damages for breach of
fiduciary duty except in certain specified circumstances. Accordingly, the
Company will have a much more limited right of action against its directors than
otherwise would be the case. This provision does not affect the liability of any
director under federal or applicable state securities laws.

19. The Company may have to depend upon Outside Advisors.

To supplement the business experience of its officer and director, the Company
may be required to employ accountants, technical experts, appraisers, attorneys,
or other consultants or advisors. The selection of any such advisors will be
made by the Company's President without any input from stockholders.
Furthermore, it is anticipated that such persons may be engaged on an "as
needed" basis without a continuing fiduciary or other obligation to the Company.

20. The Company may engage in a highly risky leveraged transaction.

There is a possibility that any acquisition of a business opportunity by the
Company may be leveraged, i.e., the Company may finance the acquisition of the
business opportunity by borrowing against the assets of the business opportunity
to be acquired, or against the projected future revenues or


                                       8
<PAGE>

profits of the business opportunity. This could increase the Company's exposure
to larger losses. A business opportunity acquired through a leveraged
transaction is profitable only if it generates enough revenues to cover the
related debt and expenses. Failure to make payments on the debt incurred to
purchase the business opportunity could result in the loss of a portion or all
of the assets acquired. There is no assurance that any business opportunity
acquired through a leveraged transaction will generate sufficient revenues to
cover the related debt and expenses.

21.  Significant competition may impair the Company's ability to locate the best
     available business opportunity.

The search for potentially profitable business opportunities is intensely
competitive. The Company expects to be at a disadvantage when competing with
many firms that have substantially greater financial and management resources
and capabilities than the Company. These competitive conditions will exist in
any industry in which the Company may become interested.

22. There are no foreseeable dividends for the Company's shareholders.

The Company has not paid dividends on its Common Stock and does not anticipate
paying such dividends in the foreseeable future.

23. The Company's present Management and Stockholders may lose control.

The Company may consider an acquisition in which the Company would issue as
consideration for the business opportunity to be acquired an amount of the
Company's authorized but unissued Common Stock that would, upon issuance,
represent the great majority of the voting power and equity of the Company. The
result of such an acquisition would be that the acquired company's stockholders
and management would control the Company, and the Company's management could be
replaced by persons unknown at this time. Such a merger would result in a
greatly reduced percentage of ownership of the Company by its current
shareholders. In addition, the Company's President could sell his control block
of stock at a premium price to the acquired company's stockholders.

24. There is no public trading market for the Company's common stock.

There is no public market for the Company's common stock, and no assurance can
be given that a market will develop or that a shareholder ever will be able to
liquidate his investment without considerable delay, if at all. If a market
should develop, the price may be highly volatile. Factors such as those
discussed in this "Risk Factors" section may have a significant impact upon the
market price of the securities offered hereby. Owing to the low price of the
securities, many brokerage firms may not be willing to effect transactions in
the securities. Even if a purchaser finds a broker willing to effect a
transaction in these securities, the combination of brokerage commissions, state
transfer taxes, if any, and any other selling costs may exceed the selling
price. Further, many lending institutions will not permit the use of such
securities as collateral for any loans.


                                       9
<PAGE>

25. Affiliates and their successors/assigns may have exposure and risk if
    re-selling securities pursuant to Rule 144.

All of the outstanding shares of Common Stock held by present stockholders are
"restricted securities" within the meaning of Rule 144 under the Securities Act
of 1933, as amended.

As restricted shares, these shares may be resold only pursuant to an effective
registration statement or under the requirements of Rule 144 or other applicable
exemptions from registration under the Act and as required under applicable
state securities laws. Rule 144 provides in essence that a person who has held
restricted securities for a prescribed period may, under certain conditions,
sell every three months, in brokerage transactions, a number of shares that does
not exceed the greater of 1.0% of a company's outstanding common stock or the
average weekly trading volume during the four calendar weeks prior to the sale.
As a result of revisions to Rule 144 which became effective on or about April
29, 1997, there will be no limit on the amount of restricted securities that may
be sold by a nonaffiliate after the restricted securities have been held by the
owner for a period of two years. A sale under Rule 144 or under any other
exemption from the Act, if available, or pursuant to subsequent registrations of
shares of Common Stock of present stockholders, may have a depressive effect
upon the price of the Common Stock in any market that may develop.

Of the total 2,247,500 shares of common stock held by present stockholders of
the Company, 2,200,000 shares were issued pursuant to Rule 701 and may become
available for resale under Rule 144, on or about July 1, 2000. However, recent
correspondence directed from the Commission to the NASD suggests that Rule 144
sales by affiliates or their successors/assigns will generally not be afforded
an opportunity to rely on Rule 144 for "safe harbor" re-selling under such rule
and will most likely only be able to transfer such securities pursuant to an
effective registration statement filed under the Securities Act of 1933 (the
"Act").

26. Blue Sky considerations may negatively impact the Company's ability to sell
    or transfer its securities or to establish secondary trading markets.

Because the securities registered hereunder have not been registered for resale
under the blue sky laws of any state, the holders of such shares and persons who
desire to purchase them in any trading market that might develop in the future,
should be aware that there may be significant state blue-sky law restrictions
upon the ability of investors to sell the securities and of purchasers to
purchase the securities. Some jurisdictions may not under any circumstances
allow the trading or resale of blind-pool or "blank- check" securities.
Accordingly, investors should consider the secondary market for the Company's
securities to be a limited one.


                                       10


<PAGE>

FORM 10-QSB

Table of Content



PART I - Financial Information

Item 1 - Financial Statements



Condensed Financial Statements

Balance Sheets - March 31, 2005 and December 31, 2004 (Audited)

Statements of Operations - Three months ended March 31, 2005 and 2004

Statements of Cash Flows - Three months ended March 31, 2005 and 2004


Notes to Financial Statements



                                       11

<PAGE>

                          NORTH SHORE CAPITAL IV, INC.
                          (A Development Stage Company)

                              FINANCIAL STATEMENTS
                       THREE MONTHS ENDED MARCH 31, 2005,
                   AND THE THREE MONTHS ENDED MARCH 31, 2004,
                AND THE PERIOD FROM FEBRUARY 3, 1999, (INCEPTION)
                                TO MARCH 31, 2005


                          NORTH SHORE CAPITAL IV, INC.
                          (A Development Stage Company)

                                 BALANCE SHEETS

                      March 31, 2005, and December 31, 2004
                                   (Unaudited)

ASSETS                                           2005                 2004
                                                                    (Audited)

        TOTAL ASSETS                            $   0                 $   0

LIABILITIES AND
STOCKHOLDERS'EQUITY


        LOAN PAYABLE TO OFFICER                 $1747                 $1747


        TOTAL LIABILITIES-CURRENT                1747                  1747




Stockholders' equity (deficit):

  Preferred stock, no par value,
  10,000,000 shares authorized,
  none issued

  Common stock, $.001 par value;
  Authorized 50,000,000 shares:
  2,247,500 issued and outstanding
  at March 31, 2005 and December 31, 2004       2,248                 2,248

  Additional Paid in Capital                   49,652                49,652

  Deficit accumulated during the
  development stage                           (53,647)              (53,647)

 Total stockholders equity (deficit)            (1747)                (1747)

 TOTAL LIABILITIES AND STOCKHOLDERS'
 EQUITY                                         $   0                $    0

See accompanying notes to financial statements


                                       12

<PAGE>

                          North Shore Capital IV, Inc.
                          (A Development Stage Company)

                            Statements of Operations
                   Three months ended March 31, 2005 and 2004

                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                    Cumulative
                                                                                                    totals from
                                                                                                    inception to
                                                                                                    March 31,
                                                                 2005             2004              2005

<S>                                                          <C>               <C>              <C>
Revenues                                                     $         -       $        -       $         -

Expenses:
          General and administrative                                   -                -            53,647
                   Total expenses                                      -                -            53,647

                   Net loss                                  $         -       $        -       $   (53,647)


Net loss per common share - basic and diluted:

          Net loss applicable to common shareholders                           $        -       $         -

Weighted average common shares - basic and diluted                              2,247,500         2,247,500
</TABLE>


 See accompanying notes to financial statements.


                                       13

<PAGE>

                            NORTH SHORE CAPITAL IV, INC.
                          (A Development Stage Company)
                                Statements of Cash Flows

                   Three months ended March 31, 2005 and 2004
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                           Cumulative
                                                                                                           totals from
                                                                                                           inception to
                                                                                                           March 31,
                                                                           2005                 2004       2005

<S>                                                                     <C>                   <C>          <C>
 Cash flows from operating activities:
   Net loss                                                             $        -            $      -     $ (53,647)
Adjustments to reconcile net loss to net cash used
  in operating activities:

Common stock issued for services                                                 -                   -        34,400

Net cash used in operating activities                                            -                   -       (19,247)

  Cash flows from investing activities                                           -                   -             -

 Cash flows from financing activities:
          Proceeds from issuance of stock                                        -                   -        17,500
          Proceeds from borrowing from shareholder                               -                   -         1,747

Net cash provided by financing activities                                        -                   -        19,247

                            Net decrease in cash                                 -                   -             -

 Cash at beginning of year                                                       -                   -             -
 Cash at end of period                                                   $       -            $      -     $       -
</TABLE>

 See accompanying notes to financial statements.


                                       14

<PAGE>

                          NOTES TO FINANCIAL STATEMENTS

(1)      General

North Shore Capital IV, Inc. ("the Company") was incorporated on February 3,
1999 in the State of Colorado. The Company is in the development stage and its
intent is to operate as a capital market access corporation and to acquire one
or more existing businesses through merger or acquisition. The Company has had
not significant business activity to date.

The accompanying unaudited financial statements have been prepared in accordance
with U. S. generally accepted accounting principles ("GAAP") for interim
financial information and with the instructions to Form 10-QSB. Accordingly,
they do not include all of the information and footnotes required by GAAP for
complete financial statements. In the opinion of management, all adjustments
(consisting of normal recurring adjustments) considered necessary for a fair
presentation have been included. Operating results for the three months period
ended March 31, 2005 are not indicative of the results that may be expected for
the year ending December 31, 2005.

As contemplated by the Securities and Exchange Commission (SEC) under Rules of
Regulation S-B, the accompanying financial statements and related footnotes have
been condensed and do not contain certain information that will be included in
the Company's
 annual financial statements and footnotes thereto. For further information,
refer to the Company's 10-KSB for the year ended December 31, 2004.

(2)      Use of Estimates

The preparation of financial statements in conformity with U. S. GAAP requires
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of revenues and
expenses during the reporting period. Actual results could vary from those
estimates.

(3)      Recent Accounting Pronouncements

In December 2004, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 153. This statement addresses the measurement
of exchanges of nonmonetary assets. The guidance in APB Opinion No. 29,
"Accounting for Nonmonetary Transactions," is based on the principle that
exchanges of nonmonetary assets should be measured based on the fair value of
the assets exchanged.

The guidance in that opinion; however, included certain exceptions to that
principle. This statement amends Opinion 29 to eliminate the exception for
nonmonetary exchanges of similar productive assets and replaces it with a
general exception for exchanges of nonmonetary assets that do not have
commercial substance. A nonmonetary exchange has commercial substance if the
future cash flows of the entity are expected to change significantly as a result
of the exchange. This statement is effective for financial statements for fiscal
years beginning after June 15, 2005. Earlier application is


                                       15

<PAGE>

permitted for nonmonetary asset exchanges incurred during fiscal years beginning
after the date of this statement is issued. Management believes the adoption of
this statement will have no impact on the financial statements of the Company.

In December 2004, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 152, which amends FASB statement No. 66,
"Accounting for Sales of Real Estate," to reference the financial accounting and
reporting guidance for real estate time-sharing transactions that is provided in
AICPA Statement of Position (SOP) 04-2, "Accounting for Real Estate Time-Sharing
Transactions." This statement also amends FASB Statement No. 67, "Accounting for
Costs and Initial Rental Operations of Real Estate Projects," to state that the
guidance for (a) incidental operations and (b) costs incurred to sell real
estate projects does not apply to real estate time-sharing transactions. The
accounting for those operations and costs is subject to the guidance in SOP
04-2. This statement is effective for financial statements for fiscal years
beginning after June 15, 2005. Management believes the adoption of this
statement will have no impact on the financial statements of the Company.

In November 2004, the Financial Accounting Standards Board (FASB) issued
Statement of Financial Accounting Standards No. 151, "Inventory Costs-- an
amendment of ARB No. 43, Chapter 4." This statement amends the guidance in ARB
No. 43, Chapter 4, "Inventory Pricing," to clarify the accounting for abnormal
amounts of idle facility expense, freight, handling costs, and wasted material
(spoilage). Paragraph 5 of ARB 43, Chapter 4, previously stated that "under some
circumstances, items such as idle facility expense, excessive spoilage, double
freight, and rehandling costs may be so abnormal as to require treatment as
current period charges." This statement requires that those items be recognized
as current-period charges regardless of whether they meet the criterion of "so
abnormal." In addition, this statement requires that allocation of fixed
production overheads to the costs of conversion be based on the normal capacity
of the production facilities. This statement is effective for inventory costs
incurred during fiscal years beginning after June 15, 2005. Management does not
believe the adoption of this statement will have any immediate material impact
on the Company.

(4)      Going Concern

The Company's financial statements are presented on a going concern basis, which
contemplates the realization of assets and satisfaction of liabilities in the
normal course of business.

The Company's ability to continue as a going concern is contingent upon its
ability to implement its plan of operations and secure additional financing.

Failure to secure such financing or implement its plan of operations may result
in the Company not being able to continue as a going concern.

The financial statements do not include any adjustments to reflect the possible
future effects on the recoverability and classification of assets or the amounts
and classification of liabilities that may result from the possible inability of
the Company to continue as a going concern.


END OF NOTES


                                       16
<PAGE>

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

                          North Shore Capital IV, Inc.

                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


MARCH 31, 2005

=====================================
THREE MONTHS ENDING MARCH 31, 2005
=====================================

The following information should be read in conjunction with the historical
financial information and the notes thereto included in Item 1 of this Quarterly
Report.

NEW ACCOUNTING PRONOUNCEMENTS

     Statement of Financial Accounting Standards No. 121, "Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed of"
("SFAS 121") issued by the FASB, is effective for financial statements for
fiscal years beginning after December 15, 1995. The standard establishes new
guidelines regarding when impairment losses on long-lived assets, which include
plant and equipment, certain identifiable intangible assets, and goodwill,
should be recognized and how impairment losses should be measured.

The Company does not expect adoption to have a material effect on its financial
position or results of operations.

     Statement of Financial Accounting Standards No. 123, "Accounting for
Stock-Based Compensation" ("SFAS 123") issued by the FASB, is effective for
specific transactions entered into after December 15, 1995. The disclosure
requirements of SFAS 123 are effective for financial statements for fiscal years
beginning no later than December 15, 1995. The new standard established a fair
value method of accounting for stock-based compensation plans and for
transactions in which an entity acquires goods or services from non-employees in
exchange for equity instruments. The Company does not expect adoption to have a
material effect on its financial position or results of operations.

General

     The Registrant intends to seek to acquire assets or shares of an entity
actively engaged in business which generates revenues, in exchange for its
securities. The Registrant has no particular acquisitions in mind and has not
entered into any negotiations regarding such an acquisition. None of the
Company's officers, directors, promoters or affiliates have engaged in any
preliminary contact or discussions with any representative of any other company
regarding the possibility of an acquisition or merger between the Company and
such other company as of the date of this quarterly report.


                                       17
<PAGE>

     While the Company will attempt to obtain audited financial statements of a
target entity, there is no assurance that such audited financial statements will
be available. The Board of Directors does intend to obtain certain assurances of
value of the target entity's assets prior to consummating such a transaction,
with further assurances that an audited statement would be provided within
seventy-five days after closing of such a transaction. Closing documents
relative thereto will include representations that the value of the assets
conveyed to or otherwise so transferred will not materially differ from the
representations included in such closing documents.

     The Company has filed a registration statement on a voluntary basis because
the primary attraction of the Registrant as a merger partner or acquisition
vehicle will be its status as an SEC reporting company. Any business combination
or transaction will likely result in a significant issuance of shares and
substantial dilution to present stockholders of the Registrant.

     The Company has, and will continue to have, no capital with which to
provide the owners of business opportunities with any significant cash or other
assets. However, management believes the Company will be able to offer owners of
acquisition candidates the opportunity to acquire a controlling ownership
interest in a publicly registered company without incurring the cost and time
required to conduct an initial public offering. The owners of the business
opportunities will, however, incur significant legal and accounting costs in
connection with the acquisition of a business opportunity, including the costs
of preparing Form 8-K's, 10-K's or 10-KSB's, agreements and related reports and
documents. The Securities Exchange Act of 1934 (the "34 Act"), specifically
requires that any merger or acquisition candidate comply with all applicable
reporting requirements, which include providing audited financial statements to
be included within the numerous filings relevant to complying with the 34 Act.
Nevertheless, the officer and director of the Company has not conducted market
research and is not aware of statistical data which would support the perceived
benefits of a merger or acquisition transaction for the owners of a business
opportunity.

     As stated hereinabove, the Company will not acquire or merge with any
entity which cannot provide independent audited financial statements within a
reasonable period of time after closing of the proposed transaction. The Company
is subject to all of the reporting requirements included in the 34 Act. Included
in these requirements is the affirmative duty of the Company to file independent
audited financial statements as part of its Form 8-K to be filed with the
Securities and Exchange Commission upon consummation of a merger or acquisition,
as well as the Company's audited financial statements


                                       18
<PAGE>

included in its annual report on Form 10-K (or 10-KSB, as applicable). If such
audited financial statements are not available at closing, or within time
parameters necessary to insure the Company's compliance with the requirements of
the 34 Act, or if the audited financial statements provided do not conform to
the representations made by the candidate to be acquired in the closing
documents, the closing documents may provide that the proposed transaction will
be voidable, at the discretion of the present management of the Company.

     The Company's officer and shareholders have verbally agreed that they will
advance to the Company additional limited funds which the Company needs for
operating capital and for costs in connection with searching for or completing
an acquisition or merger. These persons have further agreed that such advances
will be made in proportion to each person's percentage ownership of the Company.
These persons have also agreed that such advances will be made interest free
without expectation of repayment unless the owners of the business which the
Company acquires or merges with agree to repay all or a portion of such
advances. Such repayment will in no way be a condition to the selection of a
target company. There is no dollar cap on the amount of money which such persons
will advance to the Company. The Company will not borrow any funds from anyone
other than its current shareholders for the purpose of repaying advances made by
the shareholders, and the Company will not borrow any funds to make any payments
to the Company's promoters, management or their affiliates or associates.

     The Balance Sheet as of 03/31/2005 reflects $0, in assets, and no entry of
organizational costs in accordance with SOP 98-5. The Statement of Operations
has been revised to update cumulative amounts, while conforming changes have
been made to the Statement of Changes in Stockholders' Equity.

     As of the date of this report, the Company has $0, in assets. and a Deficit
accumulated during the development stage of ($53,647). The Company has also
incurred a net loss to date of ($53,647).

Liquidity and Capital Resources

     The Company remains in the development stage and, since inception, has
experienced no significant change in liquidity or capital resources or
stockholder's equity. The Company's balance sheet as of March 31, 2005, reflects
a total asset value of $0. The Company has little cash and no line of credit,
nor does it expect to have one before a merger is effected.

     The Company will carry out its plan of business as discussed above. The
Company cannot predict to what extent its liquidity and capital resources will
be diminished prior to the consummation of a business combination or whether its
capital will be further depleted by the operating losses (if any) of the
business entity which the Company may eventually acquire.


                                       19
<PAGE>

Results of Operations

     During the period from January 1, 2005, through March 31, 2005, the Company
has engaged in no significant operations other than organizational activities
and preparation for registration of its securities under the Securities Exchange
Act of 1934, as amended. No revenues were received by the Company during this
period.

     For the current fiscal year, the Company anticipates incurring a loss as a
result of organizational expenses, expenses associated with registration under
the Securities Exchange Act of 1934, and expenses associated with locating and
evaluating acquisition candidates. The Company anticipates that until a business
combination is completed with an acquisition candidate, it will not generate
revenues other than interest income, and may continue to operate at a loss after
completing a business combination, depending upon the performance of the
acquired business.

Need for Additional Financing

     The Company believes that its existing capital will be sufficient to meet
the Company's cash needs, including the costs of compliance with the continuing
reporting requirements of the Securities Exchange Act of 1934, as amended, for a
period of approximately one year. Accordingly, in the event the Company is able
to complete a business combination during this period, it anticipates that its
existing capital will be sufficient to allow it to accomplish the goal of
completing a business combination. There is no assurance, however, that the
available funds will ultimately prove to be adequate to allow it to complete a
business combination, and once a business combination is completed, the
Company's needs for additional financing are likely to increase substantially.



                                       20
<PAGE>

                            PART II OTHER INFORMATION

ITEM 1.  Legal Proceedings

          Neither the Registrant nor any of its affiliates are a party, nor is
          any of their property subject, to material pending legal proceedings
          or material proceedings known to be contemplated by governmental
          authorities.


ITEM 2.  Changes in Securities

          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

             Exhibit 27. Financial Data Schedule
         b.  Reports on Form 8 K

             None



                                       21
<PAGE>

INDEX TO EXHIBITS

EXHIBIT      NO      DESCRIPTION

#            3.1     Articles of Incorporation of the Registrant, as amended;

#            3.2     Bylaws of the Registrant;

#            4.1     Instruments Defining Rights of Security Holders/Minutes
                     of Annual/Special Meetings of the Registrant;

#           10.1     Issuance of Restricted Shares from Authorized Shares;

#           23.1     Consent of Gerard Werner, P.C.;

x           27       Financial Data Schedule

x           99.1     Safe Harbor Compliance Statement

-----------------------
x     Filed herewith.

#     Incorporated by reference from the Registrant's Registration Statement
      filed on Form 10-SB on or about April 14, 2000.


                                       22
<PAGE>

                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                           North Shore Capital IV, Inc.

                                           /s/ Gerard Werner, P.C.

DATE: September 9, 2005                      By: Gerard Werner, P.C.
                                             Title: Filing Agent

                                       23