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, 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 March 31, 2000,

         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.

  STRATEGIC ALLIANCE GROUP, INC.
  AUDITED FINANCIAL STATEMENTS
  Years ended September 30, 2000 and 1999

  STRATEGIC ALLIANCE GROUP, INC.

  Table of Contents

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




  Aaron Stein
  CERTIFIED PUBLIC ACCOUNT
  981 ALLEN LANE
  P.O. BOX 406
  WOODMERE, NY 11598
  516-569-0520

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

  I have audited the accompanying balance sheet of
  Strategic Alliance Group, Inc. as of September 30, 2000,
  and the related statement of operations, changes in
  stockholders' deficit and cash flows for each year
  September 30, 2000 and 1999. These financial
  statements are the responsibility of the Company's
  management. My responsibility is to express an
  opinion on these financial statements based on my audit.
  I conducted my audit in accordance with generally
  accepted auditing standards. Those standards require
  that I plan and perform the audit to obtain reasonable
  assurance about whether the financial statements
  are free of material misstatement. An audit also
  includes assessing the accounting principles used
  and significant estimates made by management, as
  well as evaluating the overall financial statement
  presentation. I believe that my audit provides a
  reasonable basis for my opinion.
  In my opinion, the financial statements referred
  to above present fairly, in all material respects, the
  financial position of Eutro Strategic Alliance Group,
  Inc. as of September 30, 2000 and the results of
  its operations and its cash flows for the two years
  ended September 30, 2000 and 1999 in conformity
  with generally accepted accounting principles.
  The accompanying financial statements have been
  prepared assuming that the Company will continue
  as a going concern. As discussed in Note 2 to the
  financial statements, the Company, has a very
  limited operating history, has a shareholder and
  working capital deficiency and has suffered
  recurring losses since inception. The Company's
  lack of financial resources and liquidity as of
  September 30, 2000 raises substantial doubt
  about its ability to continue as a going concern.
  Management's plans in regard to these matters are
  described in Note 2. The financial statements do
  not include any adjustments that might result from
  the outcome of this uncertainty.

  Aaron Stein
  Woodmere, New York
  March 5, 2001

  STRATEGIC ALLIANCE GROUP, INC.
  BALANCE SHEET
  SEPTEMBER 30, 2000

  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
                                    2000            1999

  REVENUE                    $        -         $       -


  GENERAL AND ADMINISTRATIVE
  EXPENSES                           -             764,306


  OPERATING LOSS                     -            (764,306)


  OTHER INCOME (EXPENSES)
   Gain on sale of fixed assets      -               2,544
   Interest expense                  -                (679)

             Total                   -               1,865


  LOSS BEFORE PROVISION FOR
  INCOME TAXES                       -            (762,441)


  INCOME TAXES                       -                   -

  NET LOSS                  $        -          $ (762,441)




  LOSS PER SHARE
   Basic                           nil          $  (0.0030)

  AVERAGE NUMBER OF COMMON SHARES
  OUTSTANDING
   Basic                      356,249,977         223,867,264



  See accompanying notes to financial statements


  STRATEGIC ALLIANCE GROUP, INC.
  STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

  Balance, 9/30/98
      Preferred Stock   Shares:    428,928
      Preferred Stock   Amount:    $42,893
      Common Stock   Shares:       100,793,040
      Common Stock   Amount:       $10,079,304
      Additional Paid-In Capital:  $(872,551)
      Accumulated Deficit:         $(11,781,706)
        Total:    $(2,532,114)


  Issuance of Common Stock
      Preferred Stock   Shares:    0
      Preferred Stock   Amount:    0
      Common Stock   Shares:       49,900,000
      Common Stock   Amount:       $4,990,000
      Additional Paid-In Capital:  $(4,729,009)
      Accumulated Deficit:         0
        Total:    $260,991

  Issuance of Common Stock for
  Services Rendered and Settlement
  of other Long-Term Liabilities
      Preferred Stock   Shares:    0
      Preferred Stock   Amount:    0
      Common Stock   Shares:       205,556,937
      Common Stock   Amount:       $20,555,694
      Additional Paid-In Capital:  $(17,590,539)
      Accumulated Deficit:         0
        Total:    $2,965,155

  Cash Dividend Declared
      Preferred Stock   Shares:    0
      Preferred Stock   Amount:    0
      Common Stock   Shares:       0
      Common Stock   Amount:       0
      Additional Paid-In Capital:  0
      Accumulated Deficit:         $(34,314)
        Total:    $(34,314)

  Net Loss
      Preferred Stock   Shares:    0
      Preferred Stock   Amount:    0
      Common Stock   Shares:       0
      Common Stock   Amount:       0
      Additional Paid-In Capital:  0
      Accumulated Deficit:         $(762,441)
        Total:    $(762,441)

  Balance, 9/30/99
      Preferred Stock   Shares:    428,928
      Preferred Stock   Amount:    $42,893
      Common Stock   Shares:       356,249,977
      Common Stock   Amount:       $35,624,998
      Additional Paid-In Capital:  $(23,192,099)
      Accumulated Deficit:         $(12,578,515)
        Total:    $(102,723)

  Net Loss
      Preferred Stock   Shares:    0
      Preferred Stock   Amount:    0
      Common Stock   Shares:       0
      Common Stock   Amount:       0
      Additional Paid-In Capital:  0
      Accumulated Deficit:         0
        Total:    0

  Balance, 9/30/00
      Preferred Stock   Shares:    428,928
      Preferred Stock   Amount:    $42,893
      Common Stock   Shares:       356,249,977
      Common Stock   Amount:       $35,624,998
      Additional Paid-In Capital:  $(23,192,099)
      Accumulated Deficit:         $(12,578,515)
        Total:    $(102,723)
317:
318:
319:
320:
321:
  See accompanying notes to financial statements


325:
  STRATEGIC ALLIANCE GROUP, INC.
  STATEMENT OF CASH FLOWS

                                 Years ended September 30,
                                 2000                 1999

  CASH FLOWS FROM OPERATING
  ACTIVITIES

       Net loss            $      -            $  (762,441)

       Adjustments to reconcile
       net loss to net cash used
       by operating activities:
            Gain on sale of
               fixed assets       -                 (2,544)
            Issuance of common
               stock for services
               rendered and other
               long-term
               liabilities        -              2,954,530

       Changes in operating
       assets and liabilities:
            Accounts payable and
               accrued expenses   -               (129,581)
            Preferred dividends   -                 34,314
            Other long term
                liabilities       -             (2,342,131)
            Net cash used in
                operating
                activities        -               (247,853)

  CASH FLOWS FROM INVESTING
  ACTIVITIES

       Proceeds from sale of
              furniture and
              equipment          -                 10,770

  CASH FLOWS FROM FINANCING
  ACTIVITIES

       Proceeds from sale of
        common stock              -               237,302

  NET INCREASE IN CASH AND CASH
  EQUIVALENTS                     -                  219
374:
  CASH AND CASH EQUIVALENTS,
  Beginning                     219                    0

  CASH AND CASH EQUIVALENTS,
  Ending                      $ 219              $   219




  See accompanying notes to financial statements


  STRATEGIC ALLIANCE GROUP, INC.
  NOTES TO FINANCIAL STATEMENTS
  SEPTEMBER 30, 2000
  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.

  STRATEGIC ALLIANCE GROUP, INC.
  NOTES TO FINANCIAL STATEMENTS
  SEPTEMBER 30, 2000

       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
       The accompanying financial statements have
       been prepared assuming that the Company
       will continue as a going concern. The
       Company has a very limited operating
       history, has a shareholder and working
       capital deficiency and has had losses
       since inception. The Company's lack of
       financial resources and liquidity at
       September 30, 2000 raises substantial doubt
       about its ability to continue as a going
       concern. The financial statements do not
       include any adjustments that might result
       from the outcome of this uncertainty. The
       Company has been dependent upon raising
       debt and equity funding to remain in existence
       as a going concern. Its continued existence is
       also dependent on equity funding.
       With respect to the Company's going concern
       considerations, on May 17, 1999, negotiations
       were concluded by which Strategic Alliance
       Group, Inc. would be acquired by Ivy
       Entertainment. Com, Inc. (Ivy) in a reverse merger.
       As consideration for this reverse merger, the
       Company will issue and exchange 8,575,000
       shares of its common stock, after it has
       undergone a 250 for 1 reverse split. These
       shares are to be issued to the sole shareholder
       of Ivy, Mr. Richard Gladstone, in exchange
       for 1000 shares of common stock of Ivy,
       which is the total amount of common
       stock issued and outstanding. The shares
       of the Company's common stock received
       by Mr. Gladstone pursuant to the reverse
       acquisition agreement will be restricted stock
       as defined in Rule 144 of the Securities act.
       To effectuate the merger Ivy must represent
       to the Company that it has a minimum of
       $5,000,000 in tangible assets when the merger
       is completed.
       On August 10, 1999 the shareholders of the
       Company approved the reverse merger of the
       Company and Ivy.

  STRATEGIC ALLIANCE GROUP, INC.
  NOTES TO FINANCIAL STATEMENTS
  SEPTEMBER 30, 2000

       On February 9, 2001 Mr. Gladstone was
       notified that the Company invoked Article
       10.1(b) Termination of the Agreement with
       Ivy due to Ivy's inability to comply with
       certain key provisions of the Agreement.
       The Company will continue to actively
       search for other suitable operating companies
       to effectuate a merger with.

  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.

During the period covered by the financial
statements and the next 12 months of this
plan, Strategic management changed the focus
of its business activities from business
and financial consulting to the sale of the
company to a more financially secure
organization that could make better use of
its OTC Electronic Bulletin Board listing.
In other words, to become the target of a
reverse merger.

After a prolonged search and discussions
with several possible merger partners,
Strategic management decided that the candidate
offering the best solution to its problems
was Ivy Entertainment.Com, Inc. In-depth
discussions with Ivy management reinforced
the Strategic conviction that this course of
action was in the best interest of its share
holders.

The offices of Ivy Entertainment.Com are
located at 2505 Boca Raton Boulevard, Suite 1,
Boca Raton , Florida, 33431. The telephone number
is (561) 367 8565.

Ivy intends to create an active trading market
for its common stock by engaging in a reverse
merger with a public shell. On May 17, 1999,
Ivy entered into a definitive stock-for-stock
exchange agreement with Strategic Alliance Group,
Inc. Pursuant to such acquisition   agreement;
Ivy shareholders will acquire a controlling
interest of approximately 85% in Strategic.

There are five obligations binding both parties
to the reverse merger. First, present Strategic
shareholders must approve a 250 to 1 reverse stock
split of Strategic common stock. Second,
Strategic must satisfy all its liabilities.
Third, Ivy is committed to having assets, measured in
accordance with generally accepted accounting
principles, valued at a minimum of   $6,000,000.
Fourth, the closing of the reverse merger must
take place on or before June 30, 1999, unless
extended by the mutual consent of both parties.
Fifth, the reverse merger is subject to due
diligence by both parties.

Ivy's authorized capital consists of 20,000,000
shares of Common Stock, par value $.01 per
share and 10,000,000 shares of Preferred
Stock par value $.01 per share. As of
September 1, 1999, Ivy has 1,000 shares of
common stock issued and outstanding.
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, 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 March 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.
  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.

On February 9, 2001, Mr. Floyd D. Wilkenson,
Director of Mezzanine Finance Fund, LLC., and
former Chairman of the Board of Directors of
Eutro Group Holding, Inc. sent a letter to
Mr. Richard Gladstone, CEO of Ivy
Entertainment.Com, Inc. in which Wilkenson
informed Gladstone and Ivy that he
considered them to not have performed
on three provisions   specified in the
Agreement of Merger between the two
companies signed May 17, 1999.

  The three provisions are;
        1.  Failure of Ivy Entertainment.Com, Inc. to
have the $6,000,000 in assets required of
it before its merger with Strategic Alliance Group,
Inc. can be consummated

        2.  Failure to meet the time requirement
for consummation of the merger while being
fully aware that time is of the essence.

        3.  Failure to meet the requirement for
the extension of time limits contained in the
Agreement, since the initial date for closing was
set for June 30, 1999.

  This action was instigated by the approach to
Wilkenson of a Strategic shareholder group
concerned at the unexplainable delays in the
fulfillment of the terms of the Acquisition
Agreement. After due consideration of the
arguments presented, Wilkenson chose to invoke
Articles 10.1(b) and 10.2 of the Agreement to effect
its termination and to be written notice thereof.
Gladstone was given 10 days to cure the matters
giving rise to this situation. Since no cure
was performed, the Agreement was terminated
effective the 10th business day following its
receipt by Gladstone.
  The Acquisition Agreement between Strategic
Alliance Group, Inc, and Ivy   Entertainment.Com,
Inc. is now null and void.

                         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