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                  U.S. 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 JUNE 30, 2000


[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934


                       Commission file number 0-28783

                     FIVE STAR BROADBAND WIRELESS, INC.
     (Exact name of small business issuer as specified in its charter)


     State of Kansas                                        48-1207793
(State or other jurisdiction of                           (IRS Employer
incorporation or organization)                            I. D. Number)

   8136 S. Harvard, Tulsa, Oklahoma                           74137
(Address of principal executive offices)                    (Zip Code)


Issuer's telephone number, including area code:  (918) 499=1600

Check whether the issuer (1) filed all reports required to be filed by
Sections 13 or 15(d) of the Securities 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

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

        There were 41,980,661 shares of common stock, No Par Value,
                      outstanding as of June 30, 2000.

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


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PART I.   FINANCIAL INFORMATION

Item 1.   Financial Statements






        REPORT ON REVIEW BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS



Five Star Broadband Wireless, Inc.
Tulsa, Oklahoma

We have reviewed the accompanying balance sheet of Five Star Broadband
Wireless, Inc. (a development stage enterprise) (the "Company") as of June
30, 2000, and the related statements of operations, stockholders' equity,
and cash flows for the three and nine months ended June 30, 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 review
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 statements 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.

We have previously audited, in accordance with generally accepted auditing
standards, the balance sheet as of September 30, 1999, and the related
statements of operations, stockholders' equity and cash flows for the year
then ended (not presented herein); and, in our report dated November 12,
1999, we expressed an unqualified opinion on those financial statements.  In
our opinion, the information set forth in the accompanying balance sheet as
of September 30, 1999 is fairly stated in all material respects in relation
to the balance sheet from which it has been derived.



 /s/ Robert Early & Company
ROBERT EARLY & COMPANY, P.C.
Abilene, Texas

August 11, 2000


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                     FIVE STAR BROADBAND WIRELESS, INC.
                      (A Development Stage Enterprise)

                               Balance Sheets



                                                     June 30,    September 30,
                                                      2000           1999
                                                  ------------   -----------
                                                   (Unaudited)
                              ASSETS

Current Assets:
   Cash                                           $     89,601   $    91,274
   Marketable securities (net)                           2,900        70,456
   Income taxes receivable                               5,465            -
   Deferred tax benefit                                  7,877         2,853
                                                  ------------   -----------
      Total Current Assets                             105,843       164,583

Other Assets:
   Investment in subsidiary                            136,000            -
   Nonmarketable securities                             34,596        28,596
                                                  ------------   -----------

   TOTAL ASSETS                                   $    276,439   $   193,179
                                                  ============   ===========


               LIABILITIES AND STOCKHOLDERS' EQUITY

Liabilities:
   Accrued expenses                               $         -    $     3,000
   Payable to officer                                       -          5,037
   Income taxes payable                                     -          5,556
                                                  ------------   -----------
      Total Liabilities                                     -         13,593
                                                  ------------   -----------

Stockholders' Equity:
   Common stock, no par value (1,000,000,000
     shares authorized, 41,980,661 and
     9,203,161 outstanding)                            338,915       167,665
   Earnings accumulated during the
     development stage                                 (50,408)       11,921
   Unrealized gain/(loss) on nonmarketable
     securities (net)                                  (12,068)           -
                                                  ------------   -----------
      Total Stockholders' Equity                       276,439       179,586
                                                  ------------   -----------

   TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY     $    276,439   $   193,179
                                                  ============   ===========


See accompanying selected information and accountants' report.
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                     FIVE STAR BROADBAND WIRELESS, INC.
                      (A Development Stage Enterprise)

                          Statements of Operations
         For the Three and Nine Months Ended June 30, 2000 and 1999
                                (Unaudited)

                                                                    Cumulative
                                                                    During the
                              Three Months        Nine Months       Development
                            2000      1999      2000        1999      Stage
                         ----------  --------  ---------  ---------  ---------

Revenues                 $       -   $     -   $      -   $      -   $      -

Operating Expenses:
  Director & officer
    compensation             14,000     9,000     32,000     22,000     72,000
  Rent                           -        900      1,800      2,700      5,400
  Legal and professional      5,540        -       7,968         -      11,368
  Other expenses              1,288        -       3,924         75      4,819
Total Operating Expenses     20,828     9,900     45,692     24,775     93,587
                         ----------  --------  ---------  ---------  ---------

Income from Operations      (20,828)   (9,900)   (45,692)   (24,775)   (93,587)

Other Income and Expenses:
  Interest income               460         1      2,087         29      2,549
  Interest expense               -         -         (85)        -         (85)
  Gain on sale of
   marketable securities         -         -      (7,321)    (3,374)    69,890
  Unrealized loss on
   marketable securities     (8,350)   (3,666)   (19,966)    6,731     (35,120)
                         ----------  --------  ---------  ---------  ---------

Income Before Income Taxes  (28,718)  (13,565)   (70,977)  (21,389)    (56,353)

  Income tax expense/
    (benefit)                 6,021    (1,854)    (5,556)   (5,268)         -
  Deferred tax expense/
    (benefit)                (1,551)     (687)    (3,092)    1,261      (5,945)
                         ----------  --------  ---------  ---------  ---------

NET INCOME               $  (33,188) $(11,024) $ (62,329) $ (17,382) $ (50,408)
                         ==========  ========  =========  =========  =========

Earnings per Share       $    (0.00) $  (0.00) $   (0.00) $   (0.00) $   (0.00)
                         ==========  ========  =========  =========  =========

Weighted Average Shares
   Outstanding           41,980,661 5,142,294 21,855,396  4,294,731 12,622,532
                         ========== ========= ==========  ========= ==========

See accompanying selected information and accountants' report.
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                     FIVE STAR BROADBAND WIRELESS, INC.
                      (A Development Stage Enterprise)

                     Statements of Stockholders' Equity
               For the Period from Inception to June 30, 2000
                                (Unaudited)


                                                          Earnings  Unrealized
                                                        Accumulated Gain/(Loss)
                                                         During the   On Non-
                                        Common Stock    Development Marketable
                             Date    Shares     Amount      Stage   Securities
                            ----- ----------  ---------  ---------  ----------

Stock issued for:
   Services and expenses    10/98    475,320  $   4,075  $      -    $      -
   Cash                     11/98     50,000        500         -           -
   Marketable securities    11/98  3,800,000     34,500         -           -
   Officer compensation     04/99    621,034      7,924         -           -
   Marketable securities    04/99     68,966        880         -           -
   Officer compensation     05/99    767,967     23,039         -           -
   Marketable securities    08/99  3,219,874     90,747         -           -
   Marketable securities    09/99    200,000      6,000         -           -
Net income for period                     -          -      11,921          -
                                  ----------  ---------  ---------   ---------

Balances, September 30, 1999       9,203,161    167,665     11,921          -

Stock issued for:
   Cash                     10/99    100,000     10,000         -           -
   Marketable securities    10/99    200,000     20,000         -           -
   Marketable securities    11/99    437,500     43,750         -           -
   Cash                     03/00    540,000     97,500         -           -
   Marketing contract       03/00 31,500,000         -          -           -
Net loss for period                       -          -     (62,329)    (12,068)
                                  ----------  ---------  ---------   ---------

Balances, June 30, 2000           41,980,661  $ 338,915  $ (50,408)  $ (12,068)
                                  ==========  =========  =========   =========



See accompanying selected information and accountants' report.
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                     FIVE STAR BROADBAND WIRELESS, INC.
                      (A Development Stage Enterprise)

                          Statements of Cash Flows
             Increases/(Decreases) in Cash and Cash Equivalents
              For the Nine Months Ended June 30, 2000 and 1999
                                (Unaudited)

                                                                    Cumulative
                                                                    During the
                                                                    Development
                                                 2000      1999       Stage
                                              ---------  ---------  ---------

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                  $ (62,329) $ (17,382) $ (50,408)
  Adjustments to reconcile net income/
  (loss) to net cash provided by operations:
  (Gain)/loss on sales of assets                  7,321      3,374    (69,890)
  Unrealized (gain)/loss on marketable
    securities                       19,966     (6,731)    35,120
  Services & expenses purchased with stock           -      27,115     35,038

  Deferred tax benefit                           (3,092)     1,261     (5,945)
  Payables and accrued expenses                  (8,037)    (2,339)        -
  Income taxes payable/receivable               (11,021)    (5,268)    (5,465)
                                              ---------  ---------  ---------
NET CASH PROVIDED/(USED) BY OPERATING
  ACTIVITIES                                   (57,192)         30    (61,550)
                                              ---------  ---------  ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds from sale of marketable securities   130,121      6,976    247,873
  Purchase of marketable securities             (46,102)    (7,241)   (68,722)
  Investment in subsidiary                     (136,000)        -    (136,000)
                                              ---------  ---------  ---------
NET CASH PROVIDED/(USED) BY INVESTING
     ACTIVITIES                                 (51,981)      (265)    43,151
                                              ---------  ---------  ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from stock issuance                  107,500        500    108,000
                                              ---------  ---------  ---------

    Increase/(decrease) in cash for period       (1,673)       265     89,601

  Cash, Beginning of period                      91,274         -          -
                                              ---------  ---------  ---------

CASH, END OF PERIOD                           $  89,601  $     265  $  89,601
                                              =========  =========  =========

Supplemental Disclosures:
  Cash payments for:
    Interest                                  $      85  $      -   $      85
    Income taxes                                  4,274         -       4,274

Non-Cash Investing and Financing:
  Stock issued to related parties:
    In exchange for marketable securities     $   63,750 $  35,380  $ 195,876
    For services rendered                             -     24,340     34,963
    For expenses                                      -      2,775         75

See accompanying selected information and accountants' report.
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                     FIVE STAR BROADBAND WIRELESS, INC.
                      (A Development Stage Enterprise)

                            Selected Information
                               June 30, 2000


NOTE 1:   BASIS OF PRESENTATION

The accompanying unaudited financial statements have been prepared in
accordance with generally accepted accounting principles for interim
financial information and with the instructions of Regulation S=B.  They do
not include all information and footnotes required by generally accepted
accounting principles for complete financial statements.  However, except as
disclosed herein, there has been no material change in the information
included in the Company's Annual Report on Form 10=SB for the period from
inception to September 30, 1999.  In the opinion of Management, all
adjustments (consisting of normal recurring accruals) considered necessary
for a fair presentation have been included.  The report of Robert Early &
Company, P.C. commenting on their review accompanies the condensed financial
statements included in Item 1 of Part 1.  Operating results for the nine
month period ended June 30, 2000, are not necessarily indicative of the
results that may be expected for the year ending September 30, 2000.

Development Stage Enterprise == The Company has been in the development
stage since its inception in October 1998.  The Company acquired a 40%
interest in another entity and issued stock for rights under a marketing
contract during January through March 2000.  Neither of these interests have
generated revenues for the Company through June 30, 2000.  The Company will
continue to be considered a development stage enterprise until such time as
operating revenues are sufficient to sustain the activities of the Company.


NOTE 2:  STOCK TRANSACTIONS

As indicated in the Statement of Stockholders' Equity, the Company has
issued shares in payment of various expenses and for the acquisition of
stock investments during its first year.  During the quarter ended December
31, 1999, the Company continued issuing shares for investment in marketable
securities.

The investments during the current year, as presented below, include the
acquisition of 25,000 shares of Ness Energy International, Inc.  and 200,000
shares of Golden Chief Resources, Inc.

During the quarter ended March 2000, the Company issued 540,000 new shares
in exchange for $97,500.  The Company also issued 31,500,000 shares for the
right to provide marketing services under a contract.  These shares have
been recorded without value because of accounting rules.  These rules
require the Company to record assets int this type of transaction at their
basis in the hands of the transferor.  Since the transferors had no
determinable basis in the contract, the Company's basis is limited to zero.

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NOTE 3:   INVESTMENTS

In November 1998, the Company acquired 100,000 shares of Ness Energy
International, Inc.  from its president in exchange for 3,800,000 newly
issued shares.  The Company continued exchanges similar to this during the
year ended September 30, 1999 and into the quarter ended December 31, 1999
with an exchange of 437,500 newly issued shares for 25,000 Ness Energy
shares.  Ness Energy is a bulletin board stock that has traded in the $1.06
to $2.00 price range during the quarter ended December 31, 1999.  The
Company plans to hold or sell the stock as needed in order to pay costs of
restarting the Company.  The exchanges have been valued at the closing price
of Ness Energy on the date of exchange.  Valuation of the issuance of the
Company's common stock was in the range of $.01 to $.03 per share during the
year ended September 30, 1999.  During the quarter ended December 31, 1999,
the Company's stock was issued at $.10 per share.

The Company also acquired 200,000 shares of Golden Chief Resources, Inc.
GCRI is a fully reporting corporation that is in the process of acquiring an
existing business.  This stock has begun trading subsequent to March 2000.


NOTE 4:   CURRENT ACTIVITIES AND SUBSEQUENT EVENTS

On March 20, 2000, the Company acquired full interest in a Sales Agency
Agreement by issuing 31,500,000 shares to Jack R. Lindley, Dick D. Ikler,
and their assigns on March 20, 2000.  The value assigned to the asset
acquired was placed at $158,000 for purposes of stock issuance.  As
discussed above, the Company is not able to record this asset under the
accounting rules.

The Company had previously acquired 40% of U.S. Wireless, Inc. from January
31, 2000 through March 9, 2000 for total consideration of $136,000.  U. S.
Wireless, Inc. holds and owns a licensing and service agreement between
itself and GKD, Inc., d.b.a. TelCom One for the marketing and sales of voice
and data communications services (wired and wireless) to be used for the
TelCom One Phone Store located in Wichita, Kansas.

An additional 9,500,000 shares have been reserved for management to utilize
in fund=raising and business development/acquisition activities.

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Item 2.  Plan of Operation

    The Company has identified one of its major objectives as the marketing
fo wireless broadband internet services at 400 times the speed of dial=up
modems.  It is expected that the Company will expand its scope beyond the
original plan for sales of the services to be able to provide and sell the
equipment, including installation and technical support, required to support
the delivery of the wireless broadband internet services sold.  The Company
is currently working with several other companies to support this activity.

    The Company is also exploring other investment opportunities primarily
in the area of related internet technology and services.  One such area
currently being pursued involves entering rural area markets that are not
covered by cellular service.  An emphasis is currently being placed upon
areas Management feels will most likely generate revenues for the Company,
in order to provide income for controlled expansion.

    During the third fiscal quarter ended June 30, 2000, the Company has
engaged the services of Pat C. Eden of Oklahoma City to fill a new position
entitled Director of Technologies.  His primary responsibility is to oversee
and coordinate all technical development aspects of the deployment of the
Company's services in the target market areas.

    Finally, the Company plans to build a web site and has reserved domain
names for this purpose.

    Disclosure Regarding Forward=Looking Statements = This Form 10=QSB
includes "forward=looking" statements within the meaning of Section 27A of
the Securities Act and the Company desires to take advantage of the "safe
harbor" provisions thereof.  Therefore, the Company is including this
statement for the express purpose of availing itself of the protections of
such safe harbor provisions with respect to all of such forward=looking
statements.  The forward=looking statements in this Form 10=QSB reflect the
Company's current views with respect to future events and financial
performance.  These forward=looking statements are subject to certain risks
and uncertainties that could cause actual results to differ from those
anticipated.  In this Form 10=QSB, the words "anticipates," "believes,"
"expects," "intends," "future" and similar expressions identify forward=
looking statements. The Company undertakes no obligation to publicly revise
these forward=looking statements to reflect events or circumstances that may
arise after the date hereof.  All subsequent written and oral forward=
looking statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by this section.


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PART II:    OTHER INFORMATION



Item 6:   Exhibits and Reports on Form 8=K

        a.  Exhibits

            Exhibit 27. Financial Data Schedule

        b.  Reports on Form 8=K

            None


                              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.


                                          FIVE STAR BROADBAND WIRELESS, INC.


August 14, 2000                            /s/ JACK R. LINDLEY
                                          Jack R. Lindley, President and
                                          Chief Financial Officer



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