UNITED STATES
                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: March 31, 2002

Or

[  ]                          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: 000-32495

                   The Prestige Group.net, Inc.
      (Exact name of registrant as specified in its charter)

            Nevada                          88-0441287
(State or other jurisdiction of   (I.R.S. Employer Identification
incorporation or organization)                 No.)

 11469 Olive Blvd., #262, St.                  63141
           Louis, MO                        (Zip Code)
(Address of principal executive
           offices)

                          (314) 432-3772
       (Registrant's telephone number, including area code)

                               N/A
 (Former name, former address and former fiscal year, if changed
                        since last report)

  Indicate by check mark whether the registrant (1) has filed all
    reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 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 ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                 DURING THE PRECEDING FIVE YEARS:
    Indicate by check mark whether the registrant has filed all
 documents and reports required to be filed by Sections 12, 13 or
  15(d) of the Securities Exchange Act of 1934 subsequent to the
   distribution of securities under a plan confirmed by a court.
                          Yes [ ] 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:
                             4,366,493



                             -PAGE 1-



                   THE PRESTIGE GROUP.NET, INC.


                         Table of Contents
                                                                Page
PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Independent Accountant's Review Report                          5

Balance Sheets                                                  6

Statements of Operations and Accumulated Deficit                7

Statements of Cash Flows                                        8

Notes to Financial Statements                                   9

Item 2. Management's Discussion and Plan of Operation           11

PART II - OTHER INFORMATION

Item 6. Exhibits                                                13

SIGNATURES                                                      14



                             -PAGE 2-













                   The Prestige Group.net, Inc.
                 [formerly Prestige Jewelry, Inc.]
                   (A Development Stage Company)

                          Balance Sheets
                               as of
                          March 31, 2002
                       and December 31, 2001

                                and

                     Statements of Operations
                                and
                            Cash Flows
                    for the Three Months Ending
                     March 31, 2002 and 2001,
                        and For the Period
            July 13, 1999 (Inception) to March 31, 2002



                             -PAGE 3-





                         TABLE OF CONTENTS


Independent Auditor's Report                                    1

Balance Sheets                                                  2

Statements Of Operations                                        3

Statements Of Cash Flows                                        4

Footnotes                                                       5








                             -PAGE 4-



G. BRAD BECKSTEAD
Certified Public Accountant
                                                330 E. Warm Springs
                                                Las Vegas, NV 89119
                                                       702.257.1984
                                                 702.362.0540 (Fax)


              INDEPENDENT ACCOUNTANT'S REVIEW REPORT

Board of Directors
The Prestige Group.net, Inc.
[formerly Prestige Jewelry, Inc.]
(a Development Stage Company)
Las Vegas, NV

I  have  reviewed  the accompanying balance sheet of  The  Prestige
Group.net,  Inc.  (a  Nevada  corporation)  (a  development   stage
company) as of March 31, 2002 and December 31, 2001 and the related
statements of operations for the three-months ended March 31,  2002
and  2001 and for the period July 13, 1999 (Inception) to March 31,
2002, and statements of cash flows for the three-months ended March
31,  2002 and 2001 and for the period July 13, 1999 (Inception)  to
March  31, 2002.  These financial statements are the responsibility
of the Company's management.

I  conducted my reviews in accordance with standards established by
the  American Institute of Certified Public Accountants.  A  review
of  interim financial information consists principally of  applying
analytical  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, which will be performed
for  the  full  year  with the objective of expressing  an  opinion
regarding  the financial statements taken as a whole.  Accordingly,
I do not express such an opinion.

Based  on  my reviews, I am not aware of any material modifications
that  should  be  made  to  the accompanying  financial  statements
referred  to  above  for  them to be in conformity  with  generally
accepted accounting principles in the United States of America.

The  accompanying financial statements have been prepared  assuming
the Company will continue as a going concern.  As discussed in Note
2  to  the  financial  statements,  the  Company  has  had  limited
operations  and  has  not commenced planned  principal  operations.
This  raises substantial doubt about its ability to continue  as  a
going  concern.  Management's plans in regard to these matters  are
also  described in Note 2.  The financial statements do not include
any  adjustments  that  might  result  from  the  outcome  of  this
uncertainty.

I have previously audited, in accordance with generally accepted
auditing standards, the balance sheet of The Prestige Group.net,
Inc. (a development stage company) as of December 31, 2001, and the
related statements of operations, stockholders' equity, and cash
flows for the year then ended (not presented herein) and in my
report dated March 26, 2002, I expressed an unqualified opinion on
those financial statements.


/s/ G. Brad Beckstead, CPA

May 20, 2002



                               F/S 1



                             -PAGE 5-



                  PART I - FINANCIAL INFORMATION
              Item 1. Unaudited Financial Statements

                   The Prestige Group.net, Inc.
                 [formerly Prestige Jewelry, Inc.]
                   (a Development Stage Company)
                          Balance Sheets

                                          (unaudited)
                                           March 31,    December31,
                                             2002         2001
Assets                                    -------------------------

Current assets:
     Cash                                         $23         $590
     Due from shareholder                         105          105
     Inventory                                  4,614        4,614
     Interest receivable - officer,               667          167
director & shareholder                    -------------------------
          Total current assets                  5,409        5,476
                                          -------------------------
Fixed assets, net                               6,403        6,847
Web site development, net                      10,032       10,987

Note receivable - officer, director &          20,000       10,000
shareholder                               -------------------------

                                              $41,844      $33,310
                                          -------------------------
Liabilities and Stockholders' Equity

Current liabilities:
     Note payable                             $25,000           $-
     Interest payable                             750            -
                                          -------------------------
          Total current liabilities            25,750            -
                                          -------------------------
Stockholders' equity:
     Preferred stock, $0.001 par value,             -            -
5,000,000 shares
        authorized, no shares issued or
outstanding
     Common stock, $0.001 par value,           19,132        5,832
50,000,000
        shares authorized, 19,132,467
and 5,832,467 shares
        issued and outstanding as of
3/31/02 and 12/31/01, respectively
     Additional paid-in capital               202,057      148,597
     Subscriptions receivable                 (2,375)      (3,775)
     Deferred compensation                   (27,000)            -
     (Deficit) accumulated during           (160,954)    (115,338)
development stage                         -------------------------
                                               16,094       33,310
                                          -------------------------
                                              $33,310      $61,091
                                          =========================


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



                               F/S 2



                             -PAGE 6-



                   The Prestige Group.net, Inc.
                 [formerly Prestige Jewelry, Inc.]
                   (A Development Stage Company)
                            (unaudited)
                     Statements of Operations

                                     Three Months Ending   July 13,1999
                                          March 31         (inception) to
                                        2002   2001        March 31, 2002
                                     ------------------------------------


      Revenue                            $-     $-            $-

      Expenses:
           General administrative     2,867  15,486        83,343
      expenses
           General administrative    41,100      -         65,926
      expenses - related party
           Depreciation and           1,399  1,216         11,602
      amortization                   ------------------------------------
                Total expenses       45,366  16,702       160,871
                                     ------------------------------------

      Other income (expense):
           Interest income -            500      -            667
      officer, director &
      shareholder
           Interest expense           (750)      -          (750)
                                     ------------------------------------
      Net (loss)                  $(45,616) $(16,702)    $(160,954)
                                     ====================================

      Weighted average number of
      common shares outstanding -  4,366,493  1,166,493
      basic and fully diluted       ===================

      Net (loss) per share - basic   $(0.01)   $(0)
      and fully diluted             ===================


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



                               F/S 3



                             -PAGE 7-



                   The Prestige Group.net, Inc.
                 [formerly Prestige Jewelry, Inc.]
                   (A Development Stage Company)
                            (unaudited)
                     Statements of Cash Flows

                                           Three Months       July 13,
                                         Ending March 31,       1999
                                                             (Inception)
                                                              to March
                                          2002       2001     31, 2002
                                        --------------------------------
    Cash flows from operating
    activities
    Net (loss)                           $(45,616) $(16,702)  $(160,954)

         Shares issued for services             -        -      10,178
         Shares issued for prepaid         54,000        -      54,000
    consulting services-related party
         Depreciation and amortization      1,339    1,216      11,602
    Adjustments to reconcile net (loss) to
      net cash (used) by operating
    activities:
         (Increase) decrease due from           -        -       (105)
    shareholder
         (Increase) in inventory                -        -     (4,614)
         (Increase) in note receivable   (10,000)        -    (20,000)
    - officer, director &
              shareholder
         Increase in interest               (500)        -       (667)
    receivable - officer, director &     --------------------------------
              shareholder
    Net cash (used) by operating            (717)  (15,486)   (110,560)
    activities                           --------------------------------

    Cash flows from investing
    activities
         Purchase of fixed assets               -  (3,604)     (8,937)
         Web site development                   -        -    (19,100)
                                         --------------------------------
    Net cash (used) by investing                -  (3,604)    (28,037)
    activities                           --------------------------------

    Cash flows from financing
    activities
         Increase in note payable          25,000        -      25,000
         Increase in interest payable         750        -         750
         Issuances of common stock              -        -     142,245
         Decrease (increase) in             1,400   16,000     (2,375)
    subscriptions receivable
         (Increase) in deferred          (27,000)        -    (27,000)
    compensation                         --------------------------------
    Net cash provided by financing            150   16,000     138,620
    activities                           --------------------------------

    Net increase (decrease) in cash         (567)  (3,090)          23
    Cash - beginning                          590   39,090           -
                                         --------------------------------
    Cash - ending                             $23  $36,000         $23
                                         ================================
    Supplemental disclosures:
         Interest paid                         $-       $-          $-
                                         ================================
         Income taxes paid                     $-       $-          $-
                                         ================================
    Non-cash investing and financing
    activities:
         Stock issued for services             $-       $-     $10,178
    provided                             ================================
         Number of shares issued for            -        -      40,713
    services                             ================================
         Stock issued for prepaid         $54,000       $-     $54,000
    consulting services                  ================================
         Number of shares issued for      540,000        -     540,000
    prepaid consulting services          ================================
  The accompanying notes are an integral part of these financial
                            statements.



                               F/S 4




                             -PAGE 8-



                   The Prestige Group.net, Inc.
                 [formerly Prestige Jewelry, Inc.]
                   (A Development Stage Company)
                               Notes

Note 1 - Basis of presentation

The  interim  financial statements included  herein,  presented  in
accordance   with  United  States  generally  accepted   accounting
principles  and  stated in US dollars, have been  prepared  by  the
Company,  without audit, pursuant to the rules and  regulations  of
the  Securities  and Exchange Commission.  Certain information  and
footnote  disclosures  normally included  in  financial  statements
prepared   in   accordance  with  generally   accepted   accounting
principles  have been condensed or omitted pursuant to  such  rules
and regulations, although the Company believes that the disclosures
are adequate to make the information presented not misleading.

These  statements  reflect all adjustments,  consisting  of  normal
recurring  adjustments, which, in the opinion  of  management,  are
necessary  for  fair  presentation  of  the  information  contained
therein.   It is suggested that these interim financial  statements
be read in conjunction with the financial statements of the Company
for  the  period ended December 31, 2001 and notes thereto included
in  the  Company's  Form  10-KSB.  The  Company  follows  the  same
accounting policies in the preparation of interim reports.

Results of operations for the interim periods are not indicative of
annual results.

Note 2 - Going concern

These  financial  statements have been prepared in accordance  with
generally  accepted  accounting principles applicable  to  a  going
concern,  which  contemplates the realization  of  assets  and  the
satisfaction of liabilities and commitments in the normal course of
business.   As  at March 31, 2002, the Company has  not  recognized
revenue   to   date  and  has  accumulated  operating   losses   of
approximately $160,954 since inception.  The Company's  ability  to
continue  as  a  going  concern is contingent upon  the  successful
completion of additional financing arrangements and its ability  to
achieve  and maintain profitable operations.  Management  plans  to
raise   equity  capital  to  finance  the  operating  and   capital
requirements  of  the Company.  Amounts raised  will  be  used  for
further development of the Company's products, to provide financing
for  marketing  and  promotion, to secure additional  property  and
equipment,  and  for  other working capital  purposes.   While  the
Company  is expending its best efforts to achieve the above  plans,
there  is  no assurance that any such activity will generate  funds
that will be available for operations.

Note 3 - Fixed assets

As of March 31, 2002, the company had the following assets:

              Furniture &               $199
              fixtures

              Jewelry equipment       $1,895

              Office equipment        $5,872

              Shop equipment            $971

              Less:    accumulated  $(2,534)
              depreciation          ---------

              Total                   $6,403

The  Company  recorded depreciation expense in the amount  of  $444
during the three-month period ended March 31, 2002.

Note 4 - Web development costs

The Company has developed a website costing $19,100 which is
capitalizable pursuant to EITF No. 00-2 "Accounting for Website
Development Costs" as defined therein.  The Company has recorded
amortization expense in the amount of $955 during the three months
ending March 31, 2002.



                               F/S 5



                             -PAGE 9-



                   The Prestige Group.net, Inc.
                 [formerly Prestige Jewelry, Inc.]
                   (A Development Stage Company)
                               Notes

Note 5 - Notes receivable

On  January  15, 2002, the Company loaned $10,000 to an  officer  &
director  of  the Company for a period of two years at an  interest
rate of 10% per annum.  During the period ended March 31, 2002, the
Company accrued interest receivable in the amount of $500.   As  of
March  31, 2002, the total amount of notes receivable due  from  an
officer  & director of the Company is $20,000 with accrued interest
of $667.

Note 6 - Notes payable

On  January  15, 2002, the Company executed a promissory  note  for
$25,000  to a company for a period of one year at an interest  rate
of  12%  per  annum.  During the period ended March 31,  2002,  the
Company  accrued interest payable in the amount of  $750.   At  the
Company's  discretion, the note can be paid back in cash or  common
stock at a price 30% less than the average of the three lowest  bid
price  for  the ten-day period preceding the date the note  becomes
due.

Note 7 - Stockholder's equity

All share and per share amounts have been retroactively restated to
reflect the splits discussed below.

On January 3, 2002, the Company executed consulting agreements with
B.M.M., LLC and Denford Investments, LLC.  Each entity will provide
consulting  services for the Company for a period of 6 months  from
the date of execution of the agreement and will receive a total  of
540,000 shares of common stock valued at $54,000.  Amounts included
in  expense were $27,000 for the three-month period ended March 31,
2002.  As of March 31, 2002, the unamortized amount was included in
the accompanying balance sheet as "Deferred compensation."

On February 28, 2002, the Company received $1,400 in cash to cancel
a portion of the subscriptions receivable due from Ashford Capital.

On  March  20,  2002, the Company effectuated a 1:5  reverse  stock
split for all shareholders as of that date.

Note 8 - Related party transactions

On January 3, 2002, the Company executed consulting agreements with
B.M.M., LLC and Denford Investments, LLC.  B.M.M., LLC is a company
wholly  owned  by the brother of one of the officers and  directors
and  that company is also a shareholder.  Denford Investments,  LLC
is  a  shareholder  of  the  Company.   Each  entity  will  provide
consulting  services for the Company for a period of 6 months  from
the date of execution of the agreement and will receive a total  of
540,000 shares of common stock valued at $54,000.

The Company paid consulting services to an officer and director  of
the  Company in the amount of $400 for the period ended  March  31,
2002.

The  Company  paid  consulting services to another  company  wholly
owned by the officers and directors of the Company in the amount of
$2,000 for the three-month period ended March 31, 2002.

The  Company  hired  B.M.M., LLC, a company  wholly  owned  by  the
brother of one of the officers and directors, that company is  also
a  shareholder.  B.M.M., LLC has performed consulting  services  in
the amount of $3,400 for the three months ended March 31, 2002.

The  Company hired Denford Investments, LLC, a shareholder  of  the
Company.    Denford  Investments,  LLC  has  performed   consulting
services  in the amount of $2,000 for the three-month period  ended
March 31, 2002.

The  Company  paid Patrick Deparini, a shareholder of the  Company,
for consulting services in the amount of $6,300 for the three-month
period ended March 31, 2002.



                               F/S 6



                             -PAGE 10-



       Item 2. Management's Discussion and Plan of Operation

Forward-Looking Statements

     This  Quarterly  Report  contains  forward-looking  statements
about  our business, financial condition and prospects that reflect
management's assumptions and beliefs based on information currently
available.    We  can  give  no  assurance  that  the  expectations
indicated by such forward-looking statements will be realized.   If
any  of our management's assumptions should prove incorrect, or  if
any  of  the  risks and uncertainties underlying such  expectations
should  materialize, our actual results may differ materially  from
those indicated by the forward-looking statements.

     The  key factors that are not within our control and that  may
have  a  direct bearing on operating results include, but  are  not
limited  to, acceptance of our services, our ability to expand  our
customer base, managements' ability to raise capital in the future,
the retention of key employees and changes in the regulation of our
industry.

     There may be other risks and circumstances that management may
be  unable  to predict.  When used in this Quarterly Report,  words
such    as,     "believes,"    "expects,"   "intends,"     "plans,"
"anticipates,"  "estimates" and similar expressions are intended to
identify forward-looking statements, as defined in Section  21E  of
the  Securities Exchange Act of 1934, although there may be certain
forward-looking statements not accompanied by such expressions.

     The  safe  harbors of forward-looking statements  provided  by
Section 21E of the Exchange Act are unavailable to issuers of penny
stock.   As we issued securities at a price below $5.00 per  share,
our  shares  are considered penny stock and such safe  harbors  set
forth under the Reform Act are unavailable to us.

General

     The  Prestige Group.net, Inc. (the "Company") was formed  July
13,  1999,  with  the  intention  of  establishing  a  web-centered
jewelry,  precious  metals, gemstone and one  of  a  kind  commerce
center.   We  seek to use the Internet to generate brand  awareness
and recognition.  We intend to develop a web site that provides  an
overview of our expected product lines.  Our web site will  provide
information regarding our company and industry to educate consumers
about  ongoing  trends  and developments.   In  addition,  we  will
display detailed information about our product offerings to  assist
consumers in making educated purchasing decisions.

     Our  web  site will be designed to process purchases over  the
Internet.  We have neither implemented this capacity nor  begun  to
generate revenues.  We expect our web site to be our sole source of
revenues,  once  fully operational.  Our goal  is  to  provide  the
ability  for  consumers to purchase products that they research  on
our site.

     Our Company is listed on the OTCBB under the symbol "PGPN."

Results of Operations

     We have generated no revenues since inception.

     Total operating expenses for the three months ended March  31,
2002 were $45,366.  This represents an increase of $28,664 in total
operating  expenses  from the comparable three-month  period  ended
March  31,  2001,  when  we reported total  operating  expenses  of
$16,702.  Since July 13, 1999, the date of our inception,  we  have
incurred  $160,871  in total operating expenses.   Total  operating
expenses for the period ended March 31, 2002 were entirely  related
to   general  and  administrative  expenses  and  depreciation  and
amortization.

Liquidity and Capital Resources

     As  of the first quarter ended March 31, 2002, we had only $23
of  current cash available.  Our management believes that  this  is
not  sufficient to meet our needs for the remainder  of  2002.   We
will  need at least $50,000 to continue operations through the year
ended  December 31, 2002.  Further, in order to execute our  growth
strategy  and  potentially become profitable,  we  need  to  secure
additional  debt or equity funding.  We hope to be  able  to  raise
additional  funds  from an offering of our  stock  in  the  future.
However,  this  offering may not occur, or if it  occurs,  may  not
raise the required funding.  There are no preliminary or definitive
agreements or understandings with any party for such financing.



                             -PAGE 11-



Plan of Operation

     Our  efforts have focused primarily on the development of  our
plan  of operation, implementing our initial business strategy  and
raising working capital through equity financing.  We do not expect
to purchase or sell any property, plants or equipment over the next
six to nine months.  In addition, we do not anticipate the need  to
hire any additional individuals to execute our business strategy.

     Our  independent auditors have indicated in their audit report
that there is substantial doubt about our ability to continue as  a
going concern over the next twelve months.  Management believes our
current  financial  resources and ability to generate  revenues  is
inadequate  to  provide  for  our  working  capital  needs  through
December 2002.  Management intends to raise additional capital  via
a  public or private offering of equity or debt securities to  fund
fiscal  year 2002 operations.  Our owners and management have  also
committed to provide us, on an as needed basis, capital to continue
operations, although there are no agreements to do so.   There  are
no  preliminary loan agreements or understandings between  us,  our
officers, directors or affiliates or lending institutions.  We have
no arrangements or commitments for accounts and accounts receivable
financing.   There can be no assurance that any such financing  can
be  obtainer or, if obtained, that it will be on reasonable  terms.
Nonetheless, our poor financial condition could inhibit our ability
to achieve our business plan.



                             -PAGE 12-



                    PART II - OTHER INFORMATION

                         Item 6. Exhibits

Exhibit  Name and/or Identification of Exhibit
Number

  3     Articles of Incorporation & By-Laws

             (a) Articles of Incorporation of the Company.
             Incorporated by reference to the exhibits to the
             Company's General Form For Registration Of
             Securities Of Small Business Issuers on Form 10-SB,
             previously filed with the Commission.

             (b) By-Laws of the Company.  Incorporated by
             reference to the exhibits to the Company's General
             Form For Registration Of Securities Of Small
             Business Issuers on Form 10-SB, previously filed
             with the Commission.

  23    Consent of Experts and Counsel

             Consents of independent public accountants.








                             -PAGE 13-



                            SIGNATURES

     Pursuant  to  the requirements of the Securities and  Exchange
Act  of  1934,  the registrant has duly caused this  Report  to  be
signed on its behalf by the undersigned hereunto duly authorized.


                  The Prestige Group.net, Inc.
                          (Registrant)

By: /s/ Joseph M. Dzierwa
Joseph M. Dzierwa
President

  In  accordance  with the requirements of the  Securities  Act  of
1933,  this  Registration  Statement was signed  by  the  following
persons in the capacities and on the dates stated:

     Signature               Title                    Date

   /s/ Joseph M. Dzierwa    President and             May 20, 2002
   Joseph M. Dzierwa          Director

   /s/ Pamela J.Dzierwa     Treasurer, Secretary      May 20, 2002
 Pamela J. Dzierwa          and Director




                             <PAGE 14>