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, 2001.

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

For the transition period from ____________ to _____________

             Commission file number:  000-13846

               STRATEGIC ALLIANCE GROUP, INC.
(Exact name of small business issuer as specified in its charter)

           Florida                           75 14 33 000
  (State of incorporation)         (IRS Employer Identification No.)

                3551 S.W. Corporate Parkway
                  Palm City, Florida 34990
          (Address of principal executive offices)

                       (561) 283-4490
                 (Issuers telephone number)

  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 [  ]

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

  Check whether the registrant filed all documents and reports
  required to be filed by Section 12, 13, or 15(d) of the Exchange
  Act after 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   the latest practicable date:
  As of June 30, 2001,

         Common capital stock - 356,249,977 shares
        Series A. Preferred Stock -  428,250 shares

  Transitional Small Business Disclosure Format (Check One)
      Yes [  ]  No [X]

                                   TABLE OF CONTENTS

  PART I   FINANCIAL INFORMATION
  Item 1    Financial Statement
  Item 2    Management's Discussion and Analysis or Plan of Operation

  PART II   OTHER INFORMATION
  Item 1    Legal Proceedings
  Item 2    Changes in Securities
  Item 3    Defaults Upon Senior Securities
  Item 4    Submission of Matters to a Vote of Security Holders
  Item 5    Other Information




               PART 1   FINANCIAL INFORMATION

  Item 1.   Financial Statements.

                  FINANCIAL STATEMENTS
               STRATEGIC ALLIANCE GROUP, INC.
                Reviewed Financial Statements
                        (Unaudited)
            Nine Months ended June 30, 2001

  Table of Contents
  Financial Statements
       Report of Independent Accountant
       Balance Sheet
       Statement of Operations
       Statement of Changes in Stockholders' Deficit
       Statement of Cash Flow
       Notes to Financial Statements



  Aaron Stein
  CERTIFIED PUBLIC ACCOUNTANT
                                              981 ALLEN LANE
                                               P.O. BOX 406
                                         WOODMERE, NEW YORK 11598

  INDEPENDENT AUDITOR'S REPORT

  To the Board of Directors and Stockholders
  of Strategic Alliance Group, Inc.

  I have reviewed the accompanying balance sheet of Strategic
  Alliance Group, Inc. as of June 30, 2001, and the related
  statement of operations for the three and nine months then ended,
  and the statement of cash flows for the nine months then ended.
  These financial statements are the responsibility of the
  Corporation's management.

  I conducted my review in accordance with standards established
  by the American Institute of Certifies Public Accountants.
  A review of interim financial information consists principally
  of applying analytical procedures to financial data and making
  inquiries pf persons responsible for financial and accounting
  matters. It is substantially less in scope than an audit conducted
  in accordance with   generally accepted auditing standards, the
  objective of which is the expression of an opinion regarding
  the financial statements taken as a whole. Accordingly, I do not
  express such an opinion.

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

  Aaron Stein
  Woodmere, New York

                      STRATEGIC ALLIANCE GROUP, INC.
                             BALANCE SHEET
                     Nine Months ended June 30, 2001
                             (Unaudited)

  ASSETS

  CURRENT ASSETS
      Cash and cash equivalents          $             219


                                         $             219

  LIABILITIES AND STOCKHOLDERS' DEFICIT

  CURRENT LIABILITIES
      Preferred dividends                $         102,942

  STOCKHOLDERS' DEFICIT
      Common stock, $.10 par value,
      authorized 500,000,000 shares,
      356,249,977 issued and outstanding        35,624,998

      Preferred stock, $.10 par value,
      authorized 5,000,000 shares
      428,928 issued and outstanding                42,893

  Additional paid-in capital                   (23,226,413)

  Accumulated deficit                          (12,544,201)

                                        $         (102,723)

                                        $              219




  See accompanying notes to financial statements


                          STRATEGIC ALLIANCE GROUP, INC.
                             STATEMENT OF OPERATIONS
                         Nine Months ended June 30, 2001
                                 (Unaudited)



179:
  REVENUE                                    $      0
181:

  GENERAL AND ADMINISTRATIVE
  EXPENSES                                          0


  OPERATING LOSS                                    0


  OTHER INCOME (EXPENSES)
   Gain on sale of fixed assets                     0
   Interest expense                                 0


  LOSS BEFORE PROVISION FOR
  INCOME TAXES                                      0


  INCOME TAXES                                      0

  NET LOSS                                          0



  LOSS PER SHARE
   Basic                                            0

  AVERAGE NUMBER OF COMMON
  SHARES OUTSTANDING
   Basic                                  356,249,977



  See accompanying notes to financial statements

                          STRATEGIC ALLIANCE GROUP, INC.
                 STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
                         Nine Months ended June 30, 2001
                                (Unaudited)
220:
                    Common     Common      Additional
                    Stock      Stock          Paid       Accumulated
                    Shares     Amount      In Capital      Deficit


  Balance- 9/30/00 356,249,977 $35,624,998 $(23,192,099) (12,578,515)

  Issuance of
  common stock              0           0            0             0
  Issuance of
  common stock for
  services rendered
  and settlement of
  other long term
  liabilities               0           0            0             0

  Net loss                  0           0            0             0
238:
  Balance 6/30/01 356,249,977 $35,624,998 $(23,192,099) $(12,578,515)
240:
241:
242:
243:
244:
  See accompanying notes to financial statements

                        STRATEGIC ALLIANCE GROUP, INC.
                          STATEMENT OF CASH FLOWS
                      Nine Months ended June 30, 2001
                                (Unaudited)




  CASH FLOWS FROM OPERATING
  ACTIVITIES

       Net loss                            $         0

       Adjustments to reconcile
       net loss to net cash used by
       operating activities:
            Gain on sale of
               fixed assets                          0
            Issuance of common
            stock for services rendered
               and other long-term
                liabilities                          0

       Changes in operating
       assets and liabilities:
            Accounts payable and
               accrued expenses                      0
            Preferred dividends                      0
            Other long term-liabilities              0
            Net cash used in operating
                          activities                 0

  CASH FLOWS FROM INVESTING
  ACTIVITIES

       Proceeds from sale of furniture
              and equipment                          0

  CASH FLOWS FROM FINANCING
  ACTIVITIES

       Proceeds from sale of common stock            0

  NET INCREASE IN CASH AND CASH
  EQUIVALENTS                                        0
292:
  CASH AND CASH EQUIVALENTS,
  Beginning                                        219

  CASH AND CASH EQUIVALENTS,
  Ending                                   $       219



    See accompanying notes to financial statements

                 STRATEGIC ALLIANCE GROUP, INC.
                 NOTES TO FINANCIAL STATEMENTS
                 Nine Months ended June 30, 2001

  Note 1: Organization, Business and Significant
  Accounting Policies

       Organization

       Strategic Alliance Group, Inc. (the Company) was originally
       incorporated in Florida as Eutro Group Holding, Inc. in
       September 1991.  On October 18, 1999 the Company filed its
       Articles of Amendment to its Articles of Incorporation thereby
       changing its name to Strategic Alliance Group, Inc. In
       September 1991 the Company completed a reverse acquisition
       of Bio-Analytic Laboratories, Inc., which then became a
       wholly owned operating subsidiary of the Company. On
       May 6, 1998, the Company sold its Bio-Analytic Laboratories,
       Inc. subsidiary. Since May 6, 1998, the Company has not had
       an operating subsidiary.

       Business

       Strategic Alliance Group, Inc. is a holding corporation.
       Its principal business is to own operating subsidiaries and
       assist these companies as well as other small and medium
       size companies with research, development, marketing and sales.
       Additionally, the Company will assist in the development of
       business plans and specializes in financial public relations.

       Significant accounting policies

       Use of Estimates in Financial Statements - Management uses
       estimates and assumptions in preparing these financial
       statements in accordance with generally accepted accounting
       principles. Those estimates and assumptions affect the
       reported amounts of assets and liabilities, the disclosure
       of contingent assets and liabilities, and the reported revenue
       and expenses. Actual results could vary from the estimates
       that were used.

       Cash and Cash Equivalents -  For purposes of reporting cash
       flows, the Company considers all cash accounts, which are
       not subject to withdrawal restrictions or penalties, as cash
       and equivalents in the accompanying balance sheet.

       Income Taxes - Statement of Financial Accounting Standards
       No. 109 (FAS 109), "Accounting for Income Taxes" is effective
       for financial statements issued for fiscal years beginning
       on or after December 15, 1992. Under FAS 109, deferred income
       taxes generally represent the future tax effect of existing
       differences between the book and tax bases of assets and
       liabilities, using the tax rates and laws existing as of the
       latest balance sheet date.

       The Company has not elected early adoption of this statement.
       The adoption of FAS 109 is not expected to have a material
       effect on the Company's financial position or results
       of operations due to the Company's NOL position and recent
       losses. The Company expects to record a deferred tax asset
       that will be fully reserved through the recording of a 100%
       valuation allowance.

       Earnings per Common Share - Basic loss per common share is
       computed using the weighted average number of common shares
       outstanding during the year.

  Note 2: Going Concern Consideration

       None

  Note 3: Shareholders' Deficit

       During the year ended September 30, 1999 the Company issued
       49,900,000 shares of common stock and received proceeds of
       $237,302.
       In exchange for services from non-employees and in settlement
       of long-term liabilities the Company issued 205,556,937
       shares of common stock.

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

       The following should be read in conjunction with the financial
       statements and notes thereto   appearing in Item 1 of this
       Form. As shown in the Financial Statements, there is
       substantial doubt about the ability of Strategic Alliance
       Group, Inc. to continue as a going concern due to its
       continuing lack of liquidity.

  It is unlikely that Strategic Alliance Group, Inc. can satisfy
  its cash requirements for the next 12 months without an infusion
  of additional funds or effecting a reverse merger.

  Strategic Alliance Group, Inc. plans no product research or
  development.

  Strategic has no permanent full time employees. There is no
  problem of significant changes or reductions in staff. No long
  term fixed contract exists with any temporary employment service.

  PART II   OTHER INFORMATION

  Item 1.  Legal Proceedings

  Pending legal proceedings:

  On June 30, 2001, Strategic Alliance Group, Inc. had no pending
  legal proceedings against it,   and its management was not aware
  of any that were awaiting filing.

  Pending governmental agency procedures:

  On June 30, 2001, Strategic Alliance Group, Inc. had no pending
  governmental agency procedures against it and its management
  was not aware of any that were awaiting submission by any
  governmental agency.

  Item 2.  Changes in Securities

  There have been no modifications in the instruments defining the
  rights of the holders of any class of registered securities.

  There has been no material limitation or qualification of the
  rights evidenced by any class of registered securities by the
  issuance or modification of any other class of securities.

  There are no legal restrictions on working capital or limitations
  upon the payment of dividends. The only restricting factors in
  either of these two items are a paucity of earnings and of cash
  flow.

  Item 3.  Defaults Upon Senior Securities.

  As indicated in Form 10-SB previously filed, the registrant
  is in default on the dividend payment on its Series A Preferred
  Stock. The amount of arrears is indicated in the financial
  statements contained in Part I of this report.

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

  There has been no submission of any matter to a vote of security
  holders during the period covered by this report, through the
  solicitation of proxies or otherwise.

  On August 10, 1999, the Strategic held a special meeting of its
  Board of Directors. In this meeting, the proxies that were
  solicited and received by August 9, 1999, were voted. The
  matters presented to the Board of Directors were the following:

     1.     To approve and adopt amended and restated Articles of
            Incorporation of Strategic Alliance Group, Inc. in the
            form attached to the Proxy Statement dated July 9, 1999.
     2.     To authorize the Board of Directors to approve and ratify
            the removal of Article 9 of the original corporation
            (Bio-Analytic Laboratories, Inc. a Florida corporation)
            amended without stockholder approval in October, 1991,
            through reverse acquisition of Strategic Alliance Group,
            Inc.
     3.     To approve and authorize the Board of Directors, in its
            sole discretion, to proceed if it is deemed necessary,
            with a reverse stock split not to exceed 1 for 250 with
            cash in lieu of fractional shares.
     4.     To approve and grant the Board of Directors the authority
            to increase the authorized share capital to 100,000,000
            shares, after the reverse split. This also shall occur
            if the Board of Directors shall deem it necessary.
     5.     To approve and grant the Board of Directors the authority
            to acquire Ivy Entertainment.Com, Inc. a Florida
            corporation, in consideration of 8,575,000 shares of
            Strategic Alliance Group, Inc. new common stock for 100%
            of the capital stock of Ivy.  The new Strategic shares
            shall be restricted shares under SEC Rule 144.
     6.     To approve the change of name of Eutro Group Holding, Inc.
            to Strategic Alliance Group, Inc.

  All the above were approved by the voting of proxies that were
  64% in favor of adoption.

   Item 5.  Other Information.

       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.

  STRATEGIC ALLIANCE GROUP, INC.
  By:  Mark Colacurcio

       ____________________
  Name:  Mark Colacurcio
  Title:    President