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 March 31, 2002

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

         For the transition period from                to
                                        --------------    ------------------


                               Commission File No.
                                     0-31377

                                   COLE, INC.
                 (Name of Small Business Issuer in its Charter)


                 UTAH                                     87-0642556
      (State or Other Jurisdiction of            (I.R.S. Employer I.D. No.)
       incorporation or organization)


                       4848 South Highland Drive Box #140
                           Salt Lake City, Utah 84117
                    (Address of Principal Executive Offices)

                    Issuer's Telephone Number: (310) 795-0252

          (Former Name or Former Address, if changed since last Report)


     Indicate  by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Sections 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.

(1)  Yes  X    No              (2)  Yes  X      No
         ----     ----                  ----         ----
<PAGE>

APPLICABLE  ONLY TO  ISSUERS  INVOLVED  IN  BANKRUPTCY  PROCEEDINGS  DURING  THE
PRECEDING FIVE YEARS

     None, Not Applicable;

     APPLICABLE  ONLY  TO  CORPORATE  ISSUERS  Indicate  the  number  of  shares
outstanding  of each of the  Registrant's  classes  of common  stock,  as of the
latest practicable date:

                                 March 31, 2002

                                    1,085,051

PART I - FINANCIAL INFORMATION

Item 1.Financial Statements.

The Financial Statements of the Registrant required to be filed with this 10-QSB
Quarterly Report were prepared by management and commence on the following page,
together  with  related  Notes.  In the  opinion of  management,  the  Financial
Statements  fairly  present  the  financial  condition  of the  Registrant.  The
Financial  Statements  have been  reviewed  and are on file  with the  Company's
Auditor.

<PAGE>
<TABLE>
<CAPTION>


                                   COLE, INC.
                         [A Development Stage Company]
                                 BALANCE SHEETS
                     As of March 31, 2002 December 31, 2001


                                                              03/31/02           12/31/01
                                                           -------------       ---------
                                                            [Unaudited]
                                     ASSETS

Assets

<S>                                                       <C>                     <C>
         Cash                                             $        1,433             773
         Property, Plant & Equipment                               1,410           1,410
         Less: Accumulated Depreciation                           (1,056)           (939)
                                                           -------------       ---------

         Total Assets                                     $        1,787           1,244
                                                           =============       =========

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities:
     Accrued Liabilities                                  $           54             311
     Payable to shareholder                                        3,500           1,500
     Income Taxes Payable                                            100             100
                                                           -------------       ---------
         Total Current Liabilities                                 3,654           1,911

         Total Liabilities                                         3,654           1,911
                                                           -------------       ---------

Stockholders' Deficit:
     Common Stock, $.01 par value;
         authorized 50,000,000 shares; issued and
         outstanding, 1,085,051 shares and
         1,085,051 respectively                                   10,850          10,850
     Paid-in Capital                                               3,155           3,155
     Accumulated Deficit                                         (15,872)        (14,672)
                                                           -------------       ---------
         Total Stockholders' Equity                               (1,867)           (667)

                                                           -------------       ---------
         Total Liabilities and Stockholders' Equity       $        1,787           1,244
                                                           =============       =========


</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                   COLE, INC.
                          [A Development Stage Company]
                            STATEMENTS OF OPERATIONS
                    For the Three Months Ended March 31, 2002 and 2001
            and for the period from inception through March 31, 2002
                                                                                         For the
                                                                                         period from
                                                                                         Inception
                                                                                         [11/3/99]
                                                                                          through
                                                  Three Months       Three Months         3/31/02
                                                      Ended             Ended
                                                     3/31/02           3/31/01
                                                 ---------------   ---------------      -----------
                                                   [Unaudited]       [Unaudited]


<S>                                             <C>               <C>
Revenues                                        $            266  $            691      $     2,311
Cost of Sales                                   $              0  $              0      $         0
                                                 ---------------   ---------------      -----------
    Gross Margin                                               0               691            2,311

General and Administrative Expenses                        1,466             5,761           17,883
                                                 ---------------   ---------------      -----------

Net Income/(Loss) from Operations                         (1,200)           (5,070)         (15,572)
                                                 ---------------   ---------------      -----------

Net Income/(Loss) Before Taxes                  $         (1,200)  $        (5,070)     $   (15,572)
                                                 ===============   ===============      ===========

Income/Franchise taxes                                         0                 0              300

Net Income/ (Loss)                                        (1,200)           (5,070)         (15,872)

Income/(Loss) Per Share                         $          (0.01)  $         (0.01)     $     (0.01)
                                                 ===============   ===============      ===========

Weighted Average Shares Outstanding                    1,085,051         1,085,051        1,068,246
                                                 ===============   ===============      ===========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                                   COLE, INC.
                          [A Development Stage Company]
                            STATEMENTS OF CASH FLOWS
         For the Three Month Month Periods Ended March 31, 2001 and 2000
            and for the period from inception through March 31, 2001
                                                                                         For the
                                                                                         period from
                                                                                         Inception
                                                                                         [11/3/99]
                                                                                         through
                                                    Three Months       Three Months       3/31/01
                                                        Ended            Ended
                                                       3/31/01          3/31/00
                                                    -------------    --------------     ------------
                                                     [Unaudited]      [Unaudited]

Cash Flows Used For Operating Activities
------------------------------------------------
<S>                                                <C>              <C>
  Net Loss                                         $       (1,200)   $       (5,070)     $   (15,872)
  Adjustments to reconcile net loss to net cash
    used in operating activities:
    Depreciation                                              117               118            1,056
    Increase/(Decrease) in accounts payable                     0                 0                0
    Shares issued for forgiveness of debt                       0                 0                0
    Increase/(Decrease) in Taxes Payable                        0                 0              100
    Increase/(Decrease) in loan from shareholder                0                 0            3,505
    Increase in accrued liabilities                          (257)                0               54
                                                    -------------    --------------     ------------
      Net Cash Used For Operating Activities               (1,340)            (3,452)        (11,157)
                                                    =============    ==============     ============

Cash Flows Provided by Investing Activities
----------------------------------------------------
   Increase/(Decrease) in Property, Plant &                     0                 0          (1,410)
Equipment
      Net Cash Used for Investing Activities                    0                 0          (1,410)
                                                    =============    ==============     ============

Cash Flows Provided by Financing Activities
---------------------------------------------------
   Issued stock for cash                                        0                0            10,500
   Increase in loans from shareholder                       2,000            1,500             3,500
                                                    -------------    -------------      ------------
      Net Cash Provided by Financing Activities                 0                0            14,000


      Net Increase/(Decrease) In Cash                         660           (3,452)            1,433

      Beginning Cash Balance                                  773            5,564                 0

      Ending Cash Balance                       $           1,433 $          2,112             1,433
                                                    -------------    --------------     ------------

</TABLE>
<PAGE>

                                   COLE, INC.
                   Notes to the Interim Financial Statements


NOTE 1- BASIS OF PRESENTATION

          The accompanying  unaudited interim financial statements of Cole, Inc.
          have been prepared in accordance  with generally  accepted  accounting
          principles  and the rule of the  Securities  and  Exchange  Commission
          ("SEC"),  and should be read in conjunction with the audited financial
          statements and notes thereto contained in this Registration Statement.
          In the opinion of management,  all  adjustments,  consisting of normal
          recurring adjustments,  necessary for a fair presentation of financial
          position and the results of operations for interim are not necessarily
          indicative of the results to be expected for the full year.

<PAGE>


Item 2.Management's Discussion and Analysis or Plan of Operation.

Plan of Operation.

     The  Company has created  relationships  with a limited  number of clients.
Furthermore,   the  Company  plans  on   increasing   its  client  base  through
advertisement and by broadening the services in which it currently provides.

Results of Operations

     The Company's  operations  during the quarterly  period ended March 31,
2002,  resulted in $266 in revenues and incurred expenses of $1,466,  stemming
from costs related to sales, and also, general and administrative expenses.

Liquidity

     At March 31, 2002, the Company had total current assets of $1,433 and total
liabilities of $3,654.  Management believes that its cash on hand of $1,433 will
be sufficient to allow it to continue its operations for the next six months.


PART II - OTHER INFORMATION

Item 1.Legal Proceedings.

None; not applicable.

Item 2.Changes in Securities.

None; not applicable

Item 3.Defaults Upon Senior  Securities.

None; not applicable.

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

None; not applicable

Item 5.Other Information.

None; applicable

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

None; not applicable

(b)Reports on Form 8-K.

None; Not Applicable.


<PAGE>

SIGNATURES

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

                            COLE, INC.



Date: 05/15/02              /S/JAMES DOOLIN
                            James Doolin, President and Director