U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

               [X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2000

                 [ ] Transition report under section 13 or 15(d)
                              of the Exchange Act.

                         COMMISSION FILE NUMBER 0-28877

                          SUTRA MANAGEMENT CORPORATION
                     --------------------------------------
        (EXACT NAME OF SMALL BUSINESS ISSUER AS SPECIFIED IN ITS CHARTER)

                    DELAWARE                             95-4737509
                    --------                             ----------
         (STATE OR OTHER JURISDICTION OF              (I.R.S. EMPLOYER
          INCORPORATION OR ORGANIZATION)             IDENTIFICATION NO.)

          29160 HEATHERCLIFF ROAD, SUITE 300, MALIBU, CALIFORNIA 90265
        ----------------------------------------------------------------
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

                                 (310) 457-8167
                                 ----------------
                           (ISSUER'S TELEPHONE NUMBER)

            860 VIA DE LA PAZ, SUITE E-1, PACIFIC PALISADES, CA 90272
                 (Former Address, if changed since last report)

     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter  period that the  registrant  was required to file such reports) and (2)
has been subject to such filing requirements for the past 90 days.

                         YES       NO  X
                             ---      ---

     As of November 10, 2000, there were 750,000 shares of Common Stock,  $0.001
par value, of the issuer outstanding.

            Transitional Small Business Disclosure Format (check one)

                         YES       NO  X
                             ---      ---

<PAGE>


                          SUTRA MANAGEMENT CORPORATION
                         (A DEVELOPMENT STAGE COMPANY)

                                      INDEX

         PART I. FINANCIAL INFORMATION                            PAGE NUMBER

           Item 1. Financial Statements

            BALANCE SHEET AS OF SEPTEMBER 30, 2000 (UNAUDITED) AND
            DECEMBER 31, 1999                                           2

            STATEMENTS OF OPERATIONS FOR THE THREE MONTHS AND NINE
            MONTHS ENDED SEPTEMBER 30, 2000 AND SEPTEMBER 30, 1999
            AND FROM MAY 9, 1997 (INCEPTION) TO SEPTEMBER 30, 2000
            (UNAUDITED)                                                 3

            STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED
            SEPTEMBER 30, 2000 AND SEPTEMBER 30, 1999 AND FOR THE
            PERIOD FROM MAY 9, 1997 (INCEPTION) TO SEPTEMBER 30,
            2000 (UNAUDITED)                                            4

            NOTES TO FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2000
            (UNAUDITED)                                                 5-7


           Item 2. Management's Discussion and Analysis of
                   Financial Condition and Results of Operations        8

         PART II. OTHER INFORMATION

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

    Signatures                                                          9

                                       1

<PAGE>
PART I.         FINANCIAL INFORMATION

Item 1.         Financial Statements


                          SUTRA MANAGEMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET


                                    ASSETS
                                              September 30,
                                                  2000          December 31,
                                               (unaudited)          1999
                                               ------------    ----------------


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



                   LIABILITIES AND STOCKHOLDERS' DEFICIENCY

LIABILITIES
  Loan payable to stockholder                $     23,145    $             95
                                               ------------    ----------------

  TOTAL LIABILITIES                                23,145                  95
                                               ------------    ----------------

STOCKHOLDERS' DEFICIENCY

  Preferred stock, $0.001 par value,
   8,000,000 shares authorized, none
   issued and outstanding                            -                   -
  Common stock, $0.001 par value,
   100,000,000 shares authorized,
   750,000 issued and outstanding                     750                 750
  Additional paid-in capital                          260                 260
  Accumulated deficit during
  development stage                               (24,155)             (1,105)
                                               ------------    ----------------

TOTAL STOCKHOLDERS' DEFICIENCY                    (23,145)                (95)
                                               ------------    ----------------

TOTAL LIABILITIES AND STOCKHOLDERS'
------------------------------------
  DEFICIENCY                                 $       -       $           -
  ----------                                   ============    ================


                See accompanying notes to financial statements

                                       2
<PAGE>

<TABLE>
<CAPTION>
                          SUTRA MANAGEMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)


                                                                                                       For the
                                            For the        For the       For the        For the          Period
                                             Three          Three          Nine           Nine          From May
                                            Months         Months         Months        Months           9, 1997
                                            Ended          Ended          Ended         Ended        (Inception) to
                                           September      September      September     September      September 30,
                                            30, 2000       30, 1999      30, 2000      30, 1999          2000
                                           ----------     ----------    ----------    -----------    ------------
<S>                                        <C>            <C>           <C>           <C>            <C>
REVENUES                                   $   -          $   -         $   -         $    -         $     -
                                           ----------     ----------    ----------    -----------    ------------

EXPENSES
  Accounting fees                             1,300           -            5,300            500           5,800
  Bank charges                                 -              -          -                   30              95
  Consulting fees                              -              -          -                   10              10
  Legal fees                                  2,500           -            8,500            500           9,000
  Office & postage expense                      750           -            2,250           -              2,250
  Rent                                        2,200           -            7,000           -              7,000
                                           ----------     ----------    ----------    -----------    ------------

NET LOSS                                   $ (6,750)      $   -         $(23,050)     $  (1,040)     $  (24,155)
--------                                   ==========     ==========    ==========    ===========    ============


Net loss per share - basic and
diluted                                    $ (0.009)      $   -         $(0.0307)     $ (0.0017)     $  (0.0559)
                                           ==========     ==========    ==========    ===========    ============

Weighted average number of shares
  outstanding during the period -
  basic and diluted                         750,000        750,000       750,000        618,132         432,157
                                           ==========     ==========    ==========    ===========    ============
</TABLE>




                See accompanying notes to financial statements

                                       3
<PAGE>
<TABLE>
<CAPTION>
                         SUTRA MANAGEMENT CORPORATION
                        (A DEVELOPMENT STAGE COMPANY)
                           STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)


                                                   For the         For the
                                                     Nine            Nine        May 9, 1997
                                                 months ended    months ended   (inception) to
                                                 September 30,   September 30,  September 30,
                                                     2000           1999           2000
                                                  -----------    -----------    ------------
<S>                                               <C>            <C>            <C>
Cash flows from operating activities
  Net loss                                        $ (23,050)     $  (1,040)     $ (24,155)
  Adjustments to reconcile net loss to
   net cash used in operating activities:
   Stock issued for services                           -                10             10
                                                  -----------    -----------    -----------
    Net cash used in operating activities           (23,050)        (1,030)       (24,145)
                                                  -----------    -----------    -----------

Cash flows from financing activities
  Proceeds from issuance of common stock               -             1,000          1,000
  Loan proceeds from stockholder                     23,050            270         23,145
                                                  -----------    -----------    -----------
    Net cash provided by financing
    activities                                       23,050          1,270         24,145
                                                  -----------    -----------    -----------

Net increase in cash                                   -               240           -

Cash and cash equivalents - Beginning                  -              -              -
                                                  -----------    -----------    -----------

Cash and cash equivalents - ending                $    -         $     240      $    -
                                                  ===========    ===========    ===========
</TABLE>





                See accompanying notes to financial statements

                                       4
<PAGE>

                         SUTRA MANAGEMENT CORPORATION
                        (A DEVELOPMENT STAGE COMPANY)
                        NOTES TO FINANCIAL STATEMENTS
                             AS OF SEPTEMBER 30, 2000
                                  (UNAUDITED)

NOTE 1    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          (A)  Organization and Business Operations

          Sutra  Management  Corporation  (a  development  stage  company) ("the
          Company") was  incorporated in Delaware on May 9, 1997 to engage in an
          internet-based  business.  At September 30, 2000,  the Company had not
          yet commenced any revenue-generating  operations,  and all activity to
          date relates to the  Company's  formation,  proposed  fund raising and
          business plan development.

          The  Company's  ability to commence  revenue-generating  operations is
          contingent  upon its ability to implement  its business plan and raise
          the capital it will require through the issuance of equity securities,
          debt securities, bank borrowings or a combination thereof.

          (B)  Basis of Presentation

          The accompanying  unaudited financial statements have been prepared in
          accordance  with generally  accepted  accounting  principles,  and the
          rules and  regulations of the  Securities and Exchange  Commission for
          interim financial  information.  Accordingly,  they do not include all
          the  information   necessary  for  a  comprehensive   presentation  of
          financial position and results of operations.

          It is  management's  opinion,  however that all  material  adjustments
          (consisting of normal recurring  adjustments) have been made which are
          necessary for a fair financial  statements  presentation.  The results
          for the interim period are not  necessarily  indicative of the results
          to be expected for the year.

          For  further  information,  refer  to  the  financial  statements  and
          footnotes  included  the  Company's  Form  10-KSB  for the year  ended
          December 31, 1999.

          (C)  Use of Estimates

          In  preparing  financial   statements  in  conformity  with  generally
          accepted  accounting  principles,   management  is  required  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.

                                       5
<PAGE>

                          SUTRA MANAGEMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2000
                                   (UNAUDITED)

NOTE 1    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          (D)  Cash and Cash Equivalents

          For purposes of the cash flow  statements,  the Company  considers all
          highly liquid investments  purchased with original maturities of three
          months or less at the time of purchase to be cash equivalents.


          (E)  Income Taxes

          The Company  accounts for income taxes under the Financial  Accounting
          Standards Board Statement of Financial  Accounting  Standards No. 109,
          "Accounting for Income Taxes"  ("Statement 109"). Under Statement 109,
          deferred tax assets and  liabilities are recognized for the future tax
          consequences   attributable  to  differences   between  the  financial
          statement  carrying  amounts of existing  assets and  liabilities  and
          their  respective tax basis.  Deferred tax assets and  liabilities are
          measured  using enacted tax rates  expected to apply to taxable income
          in the three months in which those temporary  differences are expected
          to be  recovered  or  settled.  Under  Statement  109,  the  effect on
          deferred  tax  assets  and  liabilities  of a change  in tax  rates is
          recognized in income in the period that  includes the enactment  date.
          There were no current or deferred  income tax expenses or benefits due
          to the Company not having any material  operations for the nine months
          ended September 30, 2000.

          (F)  Loss Per Share

          Net loss per common share for the periods  presented is computed based
          upon the weighted  average  common  shares  outstanding  as defined by
          Financial  Accounting  Standards No. 128  "Earnings Per Share".  There
          were no common stock equivalents outstanding at September 30, 2000.

NOTE 2    LOAN PAYABLE TO STOCKHOLDER

          The loan payable to stockholder is a non-interest-bearing loan payable
          to PageOne  Business  Productions,  LLC arising from funds advanced to
          the Company. The amount is due and payable upon demand.

                                       6
<PAGE>

                         SUTRA MANAGEMENT CORPORATION
                        (A DEVELOPMENT STAGE COMPANY)
                        NOTES TO FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2000
                                  (UNAUDITED)


NOTE 3    STOCKHOLDERS' DEFICIENCY

          The Company was originally  authorized to issue 2,000 shares of common
          stock at no par value.  The Company issued 900 and 1,100 common shares
          to Appletree Investment Company Ltd. and PageOne Business Productions,
          LLC respectively.

          Management  filed a restated  certificate  of  incorporation  with the
          State of Delaware  which  increased  the number of  authorized  common
          shares  to  100,000,000,  effected  a 375  to 1  split  of  the  2,000
          previously  issued common  shares,  and created  8,000,000  authorized
          shares of preferred  stock.  In addition,  the par value of the common
          stock  was  changed  to $.001  per  share and the par value of the new
          preferred stock was set at $.001 per share.

          The  financial  statements at September 30, 2000 give effect to common
          and preferred stock amounts and par values  enumerated in the restated
          certificate of incorporation.  No preferred shares have been issued as
          of September 30, 2000.

NOTE 4    GOING CONCERN

          As reflected in the accompanying financial statements, the Company has
          accumulated  losses of  $24,155  since  inception,  a working  capital
          deficiency of $23,145 and has not generated any revenues  since it has
          not yet  implemented  its business plan. The ability of the Company to
          continue as a going concern is dependent on the  Company's  ability to
          raise  additional   capital  and  implement  its  business  plan.  The
          financial  statements  do not  include any  adjustments  that might be
          necessary if the Company is unable to continue as a going concern.

          The Company  intends to  implement  its  business  plan and is seeking
          funding through the private placement of its equity or debt securities
          or may seek a combination  with another company already engaged in its
          proposed  business.  Management  believes that actions presently taken
          provide  the  opportunity  for  the  Company  to  continue  as a going
          concern.


                                       7

<PAGE>


Item 2.   Management's Discussion and Analysis of Financial Condition
          and Results of Operations

RESULTS OF OPERATIONS

     The following  discussion  and analysis below should be read in conjunction
with the financial statements,  including the notes thereto, appearing elsewhere
in this report.  For the period since inception (May 9, 1997) through  September
30, 2000,  during the Company's  development  stage, the Company has a zero cash
balance and has accumulated losses of $24,155.

FINANCIAL CONDITION AND LIQUIDITY

     The Company has a working capital  deficiency of $23,145 and has an ongoing
need to finance its activities.  To date, the Company currently has funded these
cash  requirements by offering and selling its Common Stock, in addition to cash
advances from a  stockholder,  and has issued 750,000 shares of Common Stock for
net proceeds of $1,000.00. Operating costs for the current period were funded by
a loan from a stockholder.

PLAN OF OPERATION

     The Company has  registered an internet  domain name and has  determined it
can begin conducting its business with limited financing that it has arranged.




PART II   OTHER INFORMATION

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

       (a)      Exhibits

                    None


       (b)      Reports on Form 8-K

                    None.




                                        8

<PAGE>


                                   SIGNATURES
                                   ----------

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

                                        SUTRA MANAGEMENT CORPORATION
                                        --------------------------------------
                                        Registrant


 July 12, 2001                          By:      /s/ James P. Walters
 -----------------                      --------------------------------
                                             James P. Walters
                                             Chief Financial Officer
                                             (Principal Financial Officer)





                                        9