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 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 March 31, 2002,

         Common capital stock - 450,000,000 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)
            Six Months ended March 31, 2002

  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 March 31, 2002, and the related statement of
  operations for the six months then ended, and the statement of cash
  flows for the six 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 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, 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
  April 4, 2002



                  STRATEGIC ALLIANCE GROUP, INC.
                         BALANCE SHEET
               Six Months ended March 31, 2002
                         (Unaudited)

  ASSETS

  CURRENT ASSETS
      Cash and cash equivalents                 $           0


      Total cash and cash equivalents           $           0

  LIABILITIES AND STOCKHOLDERS' DEFICIT

      Common Stock:
      $.10 par value,
      Authorized 500,000,000 shares,
      450,000,000 shares issued and outstanding    45,000,000


              Additional paid-in capital          (30,949,945)

              Stockholders Equity                 (14,050,055)
156:

  Total Liabilities and Stockholders Deficit    $           0




  See accompanying notes to financial statements



                       STRATEGIC ALLIANCE GROUP, INC.
                          STATEMENT OF OPERATIONS
                      Six Months ended March 31, 2002
                               (Unaudited)



174:
  REVENUE                               $      0
176:

  GENERAL AND ADMINISTRATIVE
  EXPENSES                                     0


  OPERATING LOSS                               0


  OTHER INCOME (EXPENSES)
   Banking expense                         ( 144)



  LOSS BEFORE PROVISION FOR
  INCOME TAXES                             ( 144)


  INCOME TAXES                                 0

  NET LOSS                                     0



  LOSS PER SHARE
   Basic                                       0

  AVERAGE NUMBER OF COMMON
  SHARES OUTSTANDING
   Basic                            450,000,000



  See accompanying notes to financial statements


                           STRATEGIC ALLIANCE GROUP, INC.
                    STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
                          Six Months ended March 31, 2002
                                  (Unaudited)
216:
                 Preferred   Preferred  Common   Common   Additional
                   Stock      Stock      Stock    Stock   Paid
                   Shares     Amount     Shares   Amount  In Capital


  Exchange of
  Preferred for
  Common Shares

  Issuance of
  Common Shares
  For Long Term
  Debts

  Additional Paid
  In Capital                                              (45,000,000)

  Net loss
235:
  Balance 3/31/02    0        0   450,000,000 $45,000,000 (45,126,540)
237:

                         Accum
                        Deficit      Total


  Exchange of
  Preferred for
  Common Shares

  Issuance of
  Common Shares
  For Long Term
  Debts

  Additional Paid
  In Capital

  Net loss              (144)
256:
  Balance 3/31/02       (144)      (261,108)
258:
259:
260:
261:
     See accompanying notes to financial statements

                       STRATEGIC ALLIANCE GROUP, INC.
                          STATEMENT OF CASH FLOWS
                       Six Months ended March 31, 2002
                               (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              (144)

  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/DECREASE IN CASH AND
  CASH EQUIVALENTS                                (144)
308:
  CASH AND CASH EQUIVALENTS,
  Beginning                               $        144

  CASH AND CASH EQUIVALENTS,
  Ending                                  $          0



           See accompanying notes to financial statements


                 STRATEGIC ALLIANCE GROUP, INC.
                 NOTES TO FINANCIAL STATEMENTS
                Six Months ended March 31, 2002

  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

  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 March 31, 2002, 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 March 31, 2002, 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.

  Item 3.  Defaults Upon Senior Securities.

  None

  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.

   Item 5.  Other Information.

  January 2002, Windsor Group Securities had to withdraw their offer
  because their client   experienced financial difficulties and was
  unable to fulfill its financial obligations.

  Strategic Alliance Group, Inc. was then referred to a firm
  called Consulting Services, Inc.   It agreed to attempt to find
  a buyer for Strategic.

                         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:  Floyd D. Wilkenson
       ____________________
  Name:  Floyd D. Wilkenson
  Title:    Sole Director and Officer
  Date March 31, 2002