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 December 31, 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 December 31, 2001,

         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)
           Three Months ended December 31, 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 December 31, 2001, and the related statement of
  operations for the three months then ended, and the statement of
  cash flows for the three 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

                       STRATEGIC ALLIANCE GROUP, INC.
                               BALANCE SHEET
                   Three Months ended December 31, 2001
                               (Unaudited)

  ASSETS

  CURRENT ASSETS
      Cash and cash equivalents               $             144


      Total cash and cash equivalents         $             144

  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            (30,949,801)

              Stockholders Equity                   (14,050,055)


  Total Liabilities and Stockholders Deficit   $            144




  See accompanying notes to financial statements


                       STRATEGIC ALLIANCE GROUP, INC.
                          STATEMENT OF OPERATIONS
                    Three Months ended December 31, 2001
                               (Unaudited)



165:
  REVENUE                                 $      0
167:

  GENERAL AND ADMINISTRATIVE
  EXPENSES                                       0


  OPERATING LOSS                                 0


  OTHER INCOME (EXPENSES)
   Banking expense                            ( 30)



  LOSS BEFORE PROVISION FOR
  INCOME TAXES                                ( 30)


  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
               Three Months ended December 31, 2001
                          (Unaudited)
207:
              Preferred  Preferred  Common   Common     Additional
                Stock     Stock     Stock    Stock      Paid
               Shares     Amount    Shares   Amount     In Capital


  Exchange of
  Preferred for
  Common Shares
  12/31/01   (197,944) ($19,794)

  Issuance of
  Common Shares
  For Long Term
  Debts                         43,750,023  $4,375,003

  Additional Paid
  In Capital                                           (44,999,856)

  Balance
  12/31/01       0          0  450,000,000 $45,000,000 (45,126,540)

229:

                         Accum
                         Deficit   Total

  Net loss               (30)
235:
  Balance
  12/31/01               (30)     (260,964)
238:
239:
240:
241:
   See accompanying notes to financial statements
                        STRATEGIC ALLIANCE GROUP, INC.
                          STATEMENT OF CASH FLOWS
                  Three Months ended December 31, 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                     (30)

  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                                       (30)
287:
  CASH AND CASH EQUIVALENTS,
  Beginning                             $                 174

  CASH AND CASH EQUIVALENTS,
  Ending                                $                 144



  See accompanying notes to financial statements


                 STRATEGIC ALLIANCE GROUP, INC.
                 NOTES TO FINANCIAL STATEMENTS
             Three Months ended December 31, 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. 1
       09 (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.

  In negotiating with a company in a possible merge we failed due
  to remaining preferred   shares in the hands of the shareholders.
  To eliminate this problem with the next candidate   represented by
  Windsor Group Securities, we solved the problem by having Mezzanine
  Finance Fund, LLC take the responsibility of satisfying the claims
  by the preferred shareholders (if any) and guaranteeing there would
  not be a liability to the new surviving company.

  Compensation to Mezzanine Finance Fund, LLC for this contingent
  liability was 43,750,023 shares of common stock restricted according
  to the S.E.C. 144 Rules.

  Mr. Wilkenson had recovered sufficiently from cancer to assume the
  responsibilities and   duties of sole director of Strategic Alliance
  Group, Inc., formerly Eutro Group Holding, Inc., starting September
  28, 2001.  Therefore, he signed the Annual Report.

  PART II   OTHER INFORMATION

  Item 1.  Legal Proceedings

  Pending legal proceedings:

  On December 31, 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 December 31, 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.

  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.

  On November 12, 1999, while implementing the reverse acquisition of
  Strategic Alliance Group, Inc. (formerly Eutro Group Holding, Inc.)
  and Ivy Entertainment.Com, Inc., the Board of Directors of
  Strategic Alliance Group, Inc. submitted their resignations to
  the Company which resignations were promptly filed with the
  Secretary of State of Florida. On the same day, the Board was
  replaced by a three person Board of Directors composed of Richard
  Gladstone, Howard Helfant and Mark Colacurcio.

  On May 9, 2000, Richard Gladstone and Howard Helfant submitted
  their resignations as officers and directors of Strategic Alliance
  Group, Inc. Their resignations were filed promptly with the
  Secretary of State of Florida. These departures left Mark
  Colacurcio as the sole   officer and director of the Company.

  On February 9, 2001, as former Chief Executive Officer of Strategic
  Alliance Group, Inc.,   Floyd D. Wilkenson sent Mark Colacurcio
  and Richard Gladstone a Termination Notice   informing them that
  he was rescinding the merger due to a violation of the terms of
  the acquisition, specifically non performance of the acquisition
  terms. Mark Colacurcio was given ten (10) days to cure the matter.
  No cure was provided, therefore the Acquisition Agreement was
  declared null and void on February 20, 2001.

  On February 24, 2001, Mark Colacurcio orally informed Floyd D.
  Wilkenson of his decision   to resign his positions as sole
  officer and director of the Company.

  On February 26, 2001, Floyd Wilkenson sent a letter to Mark
  Colacurcio in which he accepted Colacurcio's resignations. In
  the same letter, Wilkenson also asked if Colacurcio would be
  willing to stay on in his positions for a period of time until
  Wilkenson was ready to resume his duties as Sole Officer and
  Director of Strategic Alliance Group, Inc. Mark Colacurcio agreed
  to Wilkenson's request.

  On September 28, 2001, Floyd D. Wilkenson replaced Mark Colacurcio
  as Sole Officer and Director of Strategic Alliance Group, Inc.
  The most significant of Wilkenson's early acts was to instruct
  Aaron Stein, CPA, to review the company 10QSB's and to prepare
  audited annual financial statements for Strategic Alliance Group,
  Inc. for the fiscal year ending September 30, 2001.

                         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 December 31, 2001