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 JUNE 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.)

           860 VIA DE LA PAZ, SUITE E-1, PACIFIC PALISADES, CA 90272
        ----------------------------------------------------------------
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

                                 (310) 2330-6100
                                 ----------------
                           (ISSUER'S TELEPHONE NUMBER)

             22147 PACIFIC COAST HIGHWAY, SUITE 4, MALIBU, CA 90265
                 (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  X    NO
                             ---      ---

     As of August 15, 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 JUNE 30, 2000 (UNAUDITED) AND
            DECEMBER 31, 1999                                          2

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

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

            NOTES TO FINANCIAL STATEMENTS AS OF JUNE 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              9

    Signatures                                                         10

                                       1

<PAGE>
PART I.         FINANCIAL INFORMATION

Item 1.         Financial Statements


                          SUTRA MANAGEMENT CORPORATION
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET


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


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



                   LIABILITIES AND STOCKHOLDERS' DEFICIENCY

LIABILITIES
  Loan payable to stockholder                $     16,395    $             95
                                               ------------    ----------------

  TOTAL LIABILITIES                                16,395                  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                               (17,405)             (1,105)
                                               ------------    ----------------

TOTAL STOCKHOLDERS' DEFICIENCY                    (16,395)                (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          Six           Six            From May
                                            Months         Months        Months        Months           9, 1997
                                            Ended          Ended         Ended         Ended          (Inception)
                                           June 30,       June 30,      June 30,      June 30,        to June 30,
                                             2000           1999          2000          1999             2000
                                           ----------     ----------    ----------    -----------    ------------
<S>                                        <C>            <C>           <C>           <C>            <C>
REVENUES                                   $   -          $   -         $   -         $    -         $     -
                                           ----------     ----------    ----------    -----------    ------------

EXPENSES
  Accounting fees                             2,000            500         4,000            500           4,500
  Bank charges                                 -                30          -                30              95
  Consulting fees                              -                10          -                10              10
  Legal fees                                  3,000            500         6,000            500           6,500
  Office & postage expense                      750           -            1,500           -              1,500
  Rent                                        2,400           -            4,800           -              4,800
                                           ----------     ----------    ----------    -----------    ------------

NET LOSS                                   $ (8,150)      $ (1,040)     $(16,300)     $  (1,040)     $  (17,405)
--------                                   ==========     ==========    ==========    ===========    ============


Net loss per share - basic and
diluted                                    $(0.0109)      $(0.0028)     $(0.0217)     $ (0.0028)     $  (0.0725)
                                           ==========     ==========    ==========    ===========    ============

Weighted average number of shares
  outstanding during the period -
  basic and diluted                         750,000        375,000       750,000        375,000         240,231
                                           ==========     ==========    ==========    ===========    ============
</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
                                                     six            six
                                                    months         months       May 9, 1997
                                                    ended          ended        (inception)
                                                   June 30,       June 30,        to June
                                                     2000           1999          30, 2000
                                                  -----------    -----------    -----------
<S>                                               <C>            <C>            <C>
Cash flows from operating activities
  Net loss                                        $ (16,300)     $  (1,040)     $ (17,405)
  Adjustments to reconcile net loss to
   net cash used in operating activities:
   Stock issued for services                           -                10             10
                                                  -----------    -----------    -----------
    Net cash used in operating activities           (16,300)        (1,030)       (17,395)
                                                  -----------    -----------    -----------

Cash flows from financing activities
  Proceeds from issuance of common stock               -             1,000          1,000
  Loan proceeds from stockholder                     16,300            270         16,395
                                                  -----------    -----------    -----------
    Net cash provided by financing
    activities                                       16,300          1,270         17,395
                                                  -----------    -----------    -----------

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 JUNE 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 June 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

            The  preparation  of the 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 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 JUNE 30, 2000
                                   (UNAUDITED)

NOTE 1      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

            (D) 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.

            (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 six months ended June 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
            June 30, 2000.

NOTE 2      LOAN PAYABLE - RELATED PARTY

            The loan  payable -  related  party 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 JUNE 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 June 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 June 30, 2000.

NOTE 4      GOING CONCERN

            As reflected in the accompanying  financial statements,  the Company
            has accumulated losses of $17,405 since inception, a working capital
            deficiency of $16,395,  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 June 30,
2000,  during the  Company's  development  stage,  the  Company  has a zero cash
balance and has accumulated losses of ($17,405).

FINANCIAL CONDITION AND LIQUIDITY

     The Company has a working capital  deficiency of $16,395 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 a dot.com 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

       Exhibit No.     Description
       ----------      -----------
           27          Financial Data Schedule


       (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


 August 23, 2000                   By:      /s/ James P. Walters
 ---------------                        --------------------------------
                                             James P. Walters
                                             Chief Financial Officer
                                             (Principal Financial Officer)





                                        9
<PAGE>


                                  EXHIBIT INDEX


Exhibit No.                Description
----------                 -----------
    27                     Financial Data Schedule