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

                             FORM 10-QSB
(Mark One)

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

                    For the quarterly period ended
                          March 31, 2001

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

               For the transition period from      to

                     Commission file number 0-30591

                       TOWER GLOBAL VENTURES CORP.
    -----------------------------------------------------------------
    (Exact name of small business issuer as specified in its charter)


           Delaware                                     23-3030658
 -------------------------------                    -------------------
 (State or other jurisdiction of                    (I.R.S. Employer
 incorporation or organization)                     Identification No.)


     202 OAKLAND AVENUE, 1ST FL., NEW BRITAIN, CT 06053
     ------------------------------------------------------------
               (Address of principal executive offices)

                            (860) 229-2524
                            --------------
            (Issuer's telephone number, including area code)

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


            Class                   Outstanding at March 31, 2001
Common Stock, par value $0.0001                 5,000,000




                   PART I -- FINANCIAL INFORMATION

Item 1.  Financial Statements (unaudited).

                     TOWER GLOBAL VENTURES CORP.
                    (A Development Stage Company)
                       As of March 31, 2001
                             (Unaudited)

                                ASSETS

Cash                                           		$     -

TOTAL ASSETS                                        	$     -



           LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES                                         	$     -

STOCKHOLDERS' EQUITY

Preferred Stock, $.0001 par value, 5,000,000 shares
authorized, none issued and outstanding                       -

Common Stock, $.0001 par value, 20,000,000 shares
authorized, 5,000,000 issued and outstanding           	     500

Additional paid-in capital                                   299

Deficit accumulated during development stage                (799)

Total Stockholders' Equity                                    -

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY             	$     -

      See accompanying notes to financial statements

<TABLE>

                     TOWER GLOBAL VENTURES CORP.
                    (A Development Stage Company)
                       Statement of Operations
                             (Unaudited)

<CAPTION>

                       For the Three Months      December 27, 1999
                              Ended                  (Inception)
                          March 31, 2001     	   to March 31, 2001

<S>                       <C>                    <C>

Income                     $     -                  $     -

Expenses
  Organization expense           -                       799
  Total expenses                 -                       799

 NET LOSS                  $     -                  $   (799)

</TABLE>

      See accompanying notes to financial statements

<TABLE>

                     TOWER GLOBAL VENTURES CORP.
                    (A Development Stage Company)
             Statement of Changes in Stockholders' Equity
           For the Period From January 1, 2001
                           To March 31, 2001
                               (Unaudited)

<CAPTION>

                                                   Deficit
                                                   Accumulated
                 Common Stock         Additional   During
                    Issued            Paid-In      Development
              Shares        Amount    Capital      Stage           Total

<S>            <C>           <C>        <C>          <C>             <C>

Balance, January 1, 2001
            5,000,000     $  500     $   299      $  (799)     $     -

Fair value of
expenses contributed
                -             -           -	        -            -

Net loss for the periods ended:

March 31, 2001
                -             -           -             -            -

BALANCE AT
March 31, 2001
            5,000,000     $  500      $  299       $ (799)     $     -

</TABLE>

      See accompanying notes to financial statements

<TABLE>

                     TOWER GLOBAL VENTURES CORP.
                    (A Development Stage Company)
                       Statements of Cash Flows
                              Unaudited

<CAPTION>

                      For the Three Months        December 27, 1999
                             Ended                 (Inception)
                         March 31, 2001          to March 31, 2001

<S>                             <C>                    <C>

CASH FLOWS FROM OPERATING
 ACTIVITIES:

Net loss                          -                   $    (799)
 Adjustment to reconcile net
 loss to net cash
 used by operating activities

 Capitalized expenses             -                         299

 Net cash used in operating
  activities                      -                        (500)

CASH FLOWS FROM INVESTING
 ACTIVITIES                       -                          -

CASH FLOWS FROM FINANCING
 ACTIVITIES:

Proceeds from issuance of
 common stock                     -                         500

Net cash provided by
 financing activities             -                         500

INCREASE (DECREASE) IN CASH
 AND CASH EQUIVALENTS             -                        (500)

CASH AND CASH EQUIVALENTS
 BEGINNING OF PERIOD              -                         500

CASH AND CASH EQUIVALENTS
  END OF PERIOD             $     -                   $      -


</TABLE>

            See accompanying notes to financial statements

NOTE 1  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.  Organization and Business Operations

Tower Global Ventures Corp. (a development stage company) ("the
Company") was incorporated in Delaware on December 27, 1999 to serve
as a vehicle to effect a merger, exchange of capital stock, asset
acquisition or other business combination with a domestic or foreign
private business. At March 31, 2001, the Company had not yet
commenced any formal business operations, and all activity to date
relates to the Company's formation and proposed fund raising.  The
Company's fiscal year end is December 31.

The Company's ability to commence operations is contingent upon its
ability to identify a prospective target business.

B.  Use of Estimates

The preparation of the financial statements 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 differ from those estimates.

C.  Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers
all highly liquid investments purchased with an original maturity of
three months or less to be cash equivalents.

D.  Income Taxes

The Company accounts for income taxes under the Financial Accounting
Standards Board 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 years 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 expense
or benefits due to the Company not having any material operations
for the period ending March 31, 2001.

NOTE 2  STOCKHOLDERS' EQUITY

        A.  Preferred Stock

The Company is authorized to issue 5,000,000 shares of preferred
stock at $.0001 par value, with such designations, voting and other
rights and preferences as may be determined from time to time by the
Board of Directors.

        B.  Common Stock

The Company is authorized to issue 20,000,000 shares of common
stock at $.0001 par value. The Company issued 5,000,000 shares of
its common stock to its original shareholder pursuant to Rule 506
for an aggregate consideration of $500.

C. Additional Paid-in Capital

Additional paid-in capital at March 31, 2001 represents the fair
value of the amount of organization and professional costs incurred
by its original shareholder on behalf of the Company.


Management's Discussion and Analysis or Plan of Operations.

The Company has registered its common stock on a Form 10-SB
registration statement filed pursuant to the Securities Exchange
Act of 1934 (the "Exchange Act") and Rule 12(g) thereof.  The
Company files with the U.S. Securities and Exchange Commission
periodic and episodic reports under Rule 13(a) of the Exchange
Act, including quarterly reports on Form 10-QSB and annual reports
Form 10-KSB.

The Company was formed to engage in a merger with or acquisition
of an unidentified foreign or domestic private company which
desires to become a reporting company whose securities have been
registered under the Exchange Act.  The Company may be deemed to
meet the definition of a "blank check" company contained in
Section (7)(b)(3) of the Securities Act of 1933, as amended.

Management believes that there are perceived benefits to being a
reporting company which may be attractive to foreign and domestic
private companies.

These benefits are commonly thought to include

(1) the ability to use securities to make acquisition of assets
    or businesses;

(2) increased visibility in the financial community;

(3) the facilitation of borrowing from financial institutions;

(4) improved trading efficiency;

(5) the potential for shareholder liquidity;

(6) greater ease in subsequently raising capital;

(7) compensation of key employees through options for stock for
    which there may be a public market;

(8) enhanced corporate image; and,

(9) a presence in the United States capital market.

A private company which may be interested in a business combination
with the Company may include

(1) a company for which a primary purpose of becoming a reporting
    company is the use of its securities for the acquisition of
    assets or businesses;

(2) a company which is unable to find an underwriter of its
    securities or is unable to find an underwriter of securities on
    terms acceptable to it;

(3) a company which wishes to become a reporting company with less
    dilution of its common stock than would occur normally upon an
    underwriting;

(4) a company which believes that it will be able obtain investment
    capital on more favorable terms after it has become a reporting
    company;

(5) a foreign company which may wish an initial entry into the
    United States securities market;

(6) a company seeking one or more of the other benefits believed to
    attach to a reporting company.

The Company is authorized to enter into a definitive agreement with
a wide variety of private businesses without limitation as to their
industry or revenues.  It is not possible at this time to predict
which private company, if any, the Company will enter into a
definitive agreement or what will be the industry, operating history,
revenues, future prospects or other characteristics of that company.

The Company does not intend to trade its securities in the secondary
market until completion of a business combination.  It is anticipated
that following such occurrence the Company will take the steps
required to cause its common stock to be admitted to quotation on the
NASD OTC Bulletin Board or, if it then meets the financial and other
requirements thereof, on the Nasdaq SmallCap Market, National Market
System or regional or national exchange.


                    PART II -- OTHER INFORMATION

Item 1.  Legal Proceedings

There are no legal proceedings against the Company and the Company is
unaware of such proceedings contemplated against it.

Item 2.  Changes in Securities

On January 18, 2001 a person purchased 5,000,000 shares of common stock of
the Company from FS Capital Markets Group, Inc. in a private sale transaction.
The source of funds are from the personal funds of the person. Persons
reading this Form 10-QSB are advised to see a Form 8-K the Company has
subsequently filed.


Item 3.  Defaults upon Senior Securities

Not applicable.

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

Not applicable.

Item 5.  Other Information

Not applicable.

Item 6.  Exhibits and Reports on Form 8-K

(a) Exhibits

     None.

(b) Reports on Form 8-K

     None


                           SIGNATURES

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



                              TOWER GLOBAL VENTURES CORP.

                              By: /s/ Guiseppe Giustiano
                              ---------------------------
                              Guiseppe Giustiano, President

Dated: November 13, 2001