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

                           FORM 10-QSB

      [  X ]     QUARTERLY REPORT PURSUANT TO 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 No. 000-29125

                 FANCARD ACQUISITION CORPORATION
     (Exact name of small business issuer as specified in its
                            charter)

            Nevada                          87-0644407
   (State or other jurisdiction of   (IRS Employer Identification No.)
   incorporation or organization)

     8 East Broadway, Suite 620, Salt Lake City, Utah  84111
             (Address of principal executive offices)

                          801-532-7858
                   (Issuer's telephone number)

                         Not Applicable
(Former name, address and fiscal year, if changed since last report)

Check  whether the issuer (1) has filed all reports required  to
be  filed by Section 13 or 15(d) of the Exchange Act during  the
preceding 12 months (or for such shorter period that the  issuer
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 ISSUERS INVOLVED IN BANKRUPTCY  PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:

Check whether the registrant has filed all documents and reports
required  to  be  filed by Sections 12,  13,  or  15(d)  of  the
Exchange Act subsequent to the distribution of securities  under
a plan confirmed by a court. Yes [  ]  No  [  ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

State  the number of shares outstanding of each of the  issuer's
classes of common equity, as of March 31, 2001:  500,000  shares
of common stock.

Transitional Small Business Format:  Yes [   ]  No [ X ]
<PAGE>
                           FORM 10-QSB
                 FANCARD ACQUISITION CORPORATION

                              INDEX
                                                        	Page
PART I.   Financial Information                           	 3

          Unaudited Condensed Balance Sheets, March      	 3
          31, 2001 and December 31, 2000

          Unaudited Condensed Statements of Operations, 	 4
	    for the three-month periods ended March 31,
	    2001 and 2000 and for the period from inception
	    on December 23, 1999 through March 31, 2001

          Unaudited Condensed Statements of Cash Flows, 	 5
	    for the three-month periods ended March 31,
	    2001 and 2000 and for the period from inception
	    on December 23, 1999 through March 31, 2001

          Notes  to  Unaudited Condensed  Financial		 6
          Statements

          Management's Discussion and  Analysis  of		 9
          Financial Condition or Plan of Operation
                                                         	10
PART II.  Other Information

          Signatures                                    	10


                                         2
<PAGE>

                             PART I.
                      Financial Information

                 FANCARD ACQUISITION CORPORATION
                  [A Development Stage Company]

               UNAUDITED CONDENSED BALANCE SHEETS

                             ASSETS

                                          March 31,   December 31,
                                             2001         2000
                                         ___________  ___________
CURRENT ASSETS:
  Cash in bank                             $     80    $       80
                                         ___________  ___________
        Total Current Assets                     80            80
                                         ___________  ___________
                                           $     80    $       80
                                         ___________  ___________


              LIABILITIES AND STOCKHOLDERS' EQUITY


CURRENT LIABILITIES:
  Accounts payable                         $    800    $      150
  Accounts payable - related party              385           235
                                         ___________  ___________
        Total Current Liabilities             1,185           385
                                         ___________  ___________

STOCKHOLDERS' EQUITY:
  Preferred stock, $.001 par value,
   10,000,000 shares authorized,
   no shares issued and outstanding               -             -
  Common stock, $.001 par value,
   50,000,000 shares authorized,
   500,000 shares issued and
   outstanding                                  500           500
  Capital in excess of par value              1,500         1,500
  Deficit accumulated during the
    development stage                       (3,105)       (2,305)
                                         ___________  ___________
        Total Stockholders' Equity          (1,105)         (305)
                                         ___________  ___________
                                           $     80    $       80
                                         ___________  ___________

 Note: The balance sheet at December 31, 2000 was taken from the
       audited financial statements at that date and condensed.

The accompanying notes are an integral part of these unaudited
condensed financial statements.

                                         3
<PAGE>
                 FANCARD ACQUISITION CORPORATION
                  [A Development Stage Company]


          UNAUDITED CONDENSED STATEMENTS OF OPERATIONS


                                 For the         From Inception
                               Months Ended     on December 23,
                                March 31,         1999 Through
                     ___________________________   March 31,
                              2001       2000         2001
                         ___________ ___________  ___________
REVENUE                     $      -    $      -    $       -

EXPENSES:
  General and Administrative     800         885        3,105
                         ___________ ___________  ___________
LOSS BEFORE INCOME TAXES        (800)       (885)      (3,105)

CURRENT TAX EXPENSE                -           -            -

DEFERRED TAX EXPENSE               -           -            -
                         ___________ ___________  ___________

NET LOSS                    $   (800)  $    (885)   $  (3,105)
                         ___________ ___________  ___________

LOSS PER COMMON SHARE       $   (.00)  $    (.00)  $    (.01)
                         ___________ ___________  ___________




The accompanying notes are an integral part of these unaudited
condensed financial statements.

                                         4
<PAGE>

                 FANCARD ACQUISITION CORPORATION
                  [A Development Stage Company]

          UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
                                   		 		For the Three 	     From Inception
                                     			Months Ended	     on December 23,
                                      	  		March 31,   	     1999 Through
                          	  	 	   	 					March 31,
                                         		    2001       2000                  2001
<C>								 <C>      <C>                 <C>
Cash Flows From Operating Activities:
 Net loss                             		 $ (800)  $   (885) 		$   (3,105)
 Adjustments to reconcile net loss to
   net cash used by operating activities:
  Changes is assets and liabilities:
    Increase (decrease) in accounts payable    	    650          -   			 800
    Increase (decrease) in accounts payable -
      related party                 		    150       (550)                  385

     Net Cash Provided (Used) by Operating
       Activities                     			 -    (1,435)    		    (1,920)

Cash Flows From Investing Activities   			 -         -          		   -

     Net Cash Provided by Investing
       Activities                      			 -         -          		   -

Cash Flows From Financing Activities:

Proceeds from issuance of common stock			 -         -     		     2,000

     Net Cash Provided by Financing Activities   	 -         -    		     2,000

Net Increase in Cash                  			 -    (1,435)        		  80

Cash at Beginning of Period           			80     2,000         		   -

Cash at End of Period           			$     80  $    565   		  $     80


Supplemental Disclosures of Cash Flow Information:

 Cash paid during the period for:
   Interest                            		$ 	-   $      -      	   $     -
   Income taxes                 			$     -   $      -               $     -

</TABLE>
Supplemental Schedule of Noncash Investing and Financing
Activities:

  For the period ended March 31, 2001:
     None

  For the period ended March 31, 2000:
     None

 The accompanying notes are an integral part of these unaudited
 condensed financial statements.

                                         5
<PAGE>

                 FANCARD ACQUISITION CORPORATION
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  Organization - Fancard Acquisition Corporation (the Company)  was
  organized  under the laws of the State of Nevada on December  23,
  1999.  The Company has not commenced planned principal operations
  and  is  considered  a development stage company  as  defined  in
  Statement  of Financial Accounting Standards (SFAS) No.  7.   The
  Company is seeking potential business ventures.  The Company has,
  at  the  present time, not paid any dividends and  any  dividends
  that  may  be  paid in the future will depend upon the  financial
  requirements of the Company and other relevant factors.

  Condensed  Financial  Statements  -  The  accompanying  financial
  statements have been prepared by the Company without  audit.   In
  the  opinion  of management, all adjustments (which include  only
  normal  recurring  adjustments) necessary to present  fairly  the
  financial position, results of operations and cash flows at March
  31, 2001 and 2000 and for the periods then ended have been made.

  Certain information and footnote disclosures normally included in
  financial   statements  prepared  in  accordance  with  generally
  accepted  accounting principles have been condensed  or  omitted.
  It is suggested that these condensed financial statements be read
  in  conjunction with the financial statements and  notes  thereto
  included  in  the  company's December 31, 2000 audited  financial
  statements.   The  results of operations for  the  periods  ended
  March  31,  2001 and 2000 are not necessarily indicative  of  the
  operating results for the full year.

  Organization  Costs - Organization costs, which  reflect  amounts
  expended  to  organize the Company, amounted  to  $550  and  were
  expensed during the period ended December 31, 1999.

  Loss  Per  Share - The computation of loss per share is based  on
  the  weighted  average  number of shares outstanding  during  the
  period  presented  in  accordance  with  Statement  of  Financial
  Accounting Standards No. 128, "Earnings Per Share".  [See Note 6]

  Cash  and  Cash  Equivalents  - For  purposes  of  the  financial
  statements,   the  Company  considers  all  highly  liquid   debt
  investments purchased with a maturity of three months or less  to
  be cash equivalents.

  Accounting Estimates - The preparation of financial statements in
  conformity with generally accepted accounting principles requires
  management  to  make estimates and assumptions  that  affect  the
  reported  amounts of assets and liabilities, the  disclosures  of
  contingent  assets and liabilities at the date of  the  financial
  statements,  and  the  reported amount of revenues  and  expenses
  during  the  reported period.  Actual results could  differ  from
  those estimated.

                                  6
  <PAGE>

                 FANCARD ACQUISITION CORPORATION
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]

  Recently  Enacted Accounting Standards - Statement  of  Financial
  Accounting  Standards (SFAS) No. 136, "Transfers of Assets  to  a
  not  for  profit organization or charitable trust that raises  or
  holds  contributions for others", SFAS No. 137,  "Accounting  for
  Derivative Instruments and Hedging Activities - deferral  of  the
  effective  date of FASB Statement No. 133 (an amendment  of  FASB
  Statement  No.  133)",  SFAS  No.  138  "Accounting  for  Certain
  Derivative  Instruments  and Certain  Hedging  Activities  -  and
  Amendment of SFAS No. 133", SFAS No. 139, "Recission of SFAS  No.
  53  and  Amendment to SFAS No. 63, 89 and 21", and SFAS No.  140,
  "Accounting  to  Transfer and Servicing of Financial  Assets  and
  Extinguishment of Liabilities", were recently issued.   SFAS  No.
  136,  137, 138, 139 and 140 have no current applicability to  the
  Company  or  their effect on the financial statements  would  not
  have been significant.

NOTE 2 - CAPITAL STOCK

  Preferred Stock - The Company has authorized 10,000,000 share  of
  preferred  stock, $.001 par value, with such rights,  preferences
  and designations and to be issued in such series as determined by
  the  Board of Directors. No shares are issued and outstanding  at
  March 31, 2001.

  Common  Stock - The Company has authorized 50,000,000  shares  of
  common stock with a par value of $.001.  During December 1999, in
  connection  with  its  organization, the Company  issued  500,000
  shares  of its previously authorized, but unissued common  stock.
  The shares were issued for cash of $2,000 (or $.004 per share).

NOTE 3 - INCOME TAXES

  The   Company  accounts  for  income  taxes  in  accordance  with
  Statement  of Financial Accounting Standards No. 109  "Accounting
  for  Income Taxes".  SFAS No. 109 requires the Company to provide
  a  net  deferred tax asset/liability equal to the expected future
  tax  benefit/expense  of temporary reporting differences  between
  book  and tax accounting methods and any available operating loss
  or  tax credit carryforwards.  At March 31, 2001, the Company has
  available  unused  operating loss carryforwards of  approximately
  $2,700,  which may be applied against future taxable  income  and
  which expire in 2019 through 2021.

  The  amount of and ultimate realization of the benefits from  the
  operating   loss  carryforwards  for  income  tax   purposes   is
  dependent,  in  part  upon the tax laws  in  effect,  the  future
  earnings of the Company, and other future events, the effects  of
  which   cannot   be  determined.   Because  of  the   uncertainty
  surrounding the realization of the loss carryforwards the Company
  has established a valuation allowance equal to the tax effect  of
  the  loss carryforwards and, therefore, no deferred tax asset has
  been recognized for the loss carryforwards.  The net deferred tax
  assets are approximately $1,050 and $750 as of March 31, 2001 and
  December  31,  2000,  respectively, with an offsetting  valuation
  allowance  at each period end of the same amount resulting  in  a
  change  in the valuation allowance of approximately $300 for  the
  three months ended March 31, 2001.

                                  7
  <PAGE>

                 FANCARD ACQUISITION CORPORATION
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 4 - RELATED PARTY TRANSACTIONS

  Management  Compensation - As of March 31, 2001, the Company  has
  not  paid  any  compensation to any officer or  director  of  the
  Company.

  Office  Space  -  The Company has not had a need to  rent  office
  space.   An  officer/shareholder of the Company is  allowing  the
  Company to use his/her office as a mailing address, as needed, at
  no expense to the Company.

  Accounts Payable - Related Party - As of March 31, 2001, an
  officer/shareholder of the Company has paid $150 in expenses on
  behalf of the Company and the Company owes $235 for legal
  services to an entity which is related to an officer/shareholder
  of the Company.

NOTE 5 - GOING CONCERN

  The  accompanying  financial statements  have  been  prepared  in
  conformity  with generally accepted accounting principles,  which
  contemplate  continuation  of the Company  as  a  going  concern.
  However, the Company has incurred losses since its inception  and
  has   not   yet   been  successful  in  establishing   profitable
  operations.  Further,  the  Company has  current  liabilities  in
  excess of current assets.  These factors raise substantial  doubt
  about  the ability of the Company to continue as a going concern.
  In  this  regard, management is proposing to raise any  necessary
  additional  funds  not provided by operations through  additional
  sales  of  its  common  stock.  There is no  assurance  that  the
  Company will be successful in raising this additional capital  or
  achieving profitable operations.  The financial statements do not
  include  any  adjustments that might result from the  outcome  of
  these uncertainties.

NOTE 6 - LOSS PER SHARE

  The  following data show the amounts used in computing  loss  per
  share for the periods presented:

                                      For the Three	   From Inception
                                       Months Ended	   on December 23,
                                        March 31,   	   1999 Through
                          						March 31,
                                  	  2001      2000      	  2001

    Loss from continuing operations
    available to common shareholders
     (numerator)                 	  $ (800)   $ (885)  $      (3,105)

    Weighted average number of
    common shares outstanding used
    in loss per share for the period
    (denominator)                     500,000   500,000         500,000


  Dilutive loss per share was not presented, as the Company had  no
  common  stock  equivalent shares for all periods  presented  that
  would affect the computation of diluted loss per share.

                                  8
  <PAGE>



             MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION OR PLAN OF OPERATION


Three-Month Periods Ended March 31, 2001 and 2000

The  Company  had no revenue from continuing operations  for  the
three-month periods ended March 31, 2001 and 2000.

General  and administrative expenses for the three-month  periods
ended  March  31, 2001 and 2000 were $800 and $885, respectively.
These  expenses  consisted  of general corporate  administration,
legal  and  professional  expenses, and accounting  and  auditing
costs.

As  a result of the foregoing factors, the Company realized a net
loss  of  $800  for  the three months ended March  31,  2001,  as
compared  to a net loss of $885 for the three months ended  March
31, 2000.

Liquidity and Capital Resources

At March 31, 2001, the Company had $80 in cash, $800 in accounts
payable and $385 in accounts payable to a related party, giving
the Company a working capital deficit of $1,105, as compared to a
working capital deficit of $305 at December 31, 2000.  The $385
in accounts payable to a related party consists of $150 in
expenses paid by its officer, and $235 for legal services to a
law firm owned and controlled by the Company's shareholders.  The
decrease in working capital is due to incurring general and
administrative expenses without conducting any operations.

Management believes that its current cash needs can be met with
the cash on hand or from loans from its officers and directors
for at least the next twelve months.  However, there can be no
assurances to that effect, as the Company has no significant
revenues and the Company's need for capital may change
dramatically if, during that period, it acquires an interest in a
business opportunity.  Should the Company obtain a business
opportunity, it may be necessary to raise additional capital.
This may be accomplished by selling common stock of the Company
or debt financing.

The Company's current operating plan is to (i) handle the
administrative and reporting requirements of a pubic company, and
(ii) search for potential businesses, products, technologies and
companies for acquisition.  At present, the Company has no
understandings, commitments or agreements with respect to the
acquisition of any business venture, and there can be no
assurance that the Company will identify a business venture
suitable for acquisition I the future.  Further, there can be no
assurance that the Company would be successful in consummating
any acquisition on favorable terms or that it will be able to
profitably manage any business venture it acquires.

Forward-Looking Statement Notice

When  used  in  this  report, the words "may," "will,"  "expect,"
"anticipate,"  "continue," "estimate," "project,"  "intend,"  and
similar  expressions  are  intended to  identify  forward-looking
statements  within the meaning of Section 27A of  the  Securities
Act  of  1933 and Section 21E of the Securities Exchange  Act  of
1934 regarding events, conditions, and financial trends that  may
affect   the  Company's  future  plans  of  operations,  business
strategy,  operating  results, and financial  position.   Persons
reviewing  this  report  are cautioned that  any  forward-looking
statements  are  not  guarantees of future  performance  and  are
subject  to  risks and uncertainties and that actual results  may
differ  materially from those included within the forward-looking
statements as a result of various factors.

                                  9
<PAGE>

                   PART II.  OTHER INFORMATION

Exhibits and Reports on Form 8-K.

     None

                         SIGNATURES

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

                              FANCARD ACQUISITION CORPORATION


Date:  May 8, 2001
				     By:  /S/ Cletha A. Walstrand

                             Cletha A. Walstrand
                             President, Secretary and Treasurer