UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

For the quarterly period ended    March 31, 2002
                               ------------------------

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

For the transition period from ________________ to _______________

Commission File No.     33-55254-38
                    ---------------

                             ULTRONICS, CORPORATION
       (Exact name of Small Business Issuer as specified in its charter)

         NEVADA                                       87-0485313
-------------------------------           --------------------------------------
(State or other jurisdiction of          (I.R.S. Employer Identification Number)
incorporation or organization)


4348 Butternut Road, Salt Lake City, Utah        84124
--------------------------------------------------------
(Address of principal executive offices)      (Zip Code)


Issuer's telephone number, including area code     (801)  272-2432
                                               -------------------

     Indicate  by check  mark  whether  the  Issuer  (1) has filed  all  reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934 during the preceding 12 months (or for such shorter  period that the Issuer
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days. [X] Yes [ ] No

     Indicate the number of shares  outstanding of each of the Issuer's  classes
of common stock, as of the latest practicable date.

             Class                           Outstanding as of March 31, 2002
------------------------------------         --------------------------------
$.001 PAR VALUE CLASS A COMMON STOCK                6,000,000 SHARES

                                       1

<PAGE>



                         PART 1 - FINANCIAL INFORMATION

Item 1.  Financial Statements.

BASIS OF REPRESENTATION

General
The accompanying unaudited financial statements have been prepared in accordance
with  the  instructions  to Form  10-QSB  and,  therefore,  do not  include  all
information  and footnotes  necessary for a complete  presentation  of financial
position,  results  of  operations,  cash  flows  and  stockholders'  equity  in
conformity  with generally  accepted  accounting  principles.  In the opinion of
management,  all adjustments considered necessary for a fair presentation of the
results of  operations  and  financial  position have been included and all such
adjustments are of a normal recurring nature.  Operating results for the quarter
ended March 31, 2002, are not necessarily  indicative of the results that can be
expected for the year ending December 31, 2002.


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<PAGE>



                              ULTRONICS CORPORATION
                          (A Development Stage Company)
                                  BALANCE SHEET


<TABLE>
<CAPTION>
                                                                                  March 31,                December 31,
                                                                                    2002                       2001
                                                                                 (Unaudited)                 (Audited)
                                                                           ----------------------    ----------------------
ASSETS
   CURRENT ASSETS
<S>                                                                        <C>                       <C>
     Cash in bank                                                          $                4,852    $                5,537
                                                                           ----------------------    ----------------------
                                                   TOTAL CURRENT ASSETS                     4,852                     5,537
                                                                           ----------------------    ----------------------

                                                                           $                4,852    $                5,537
                                                                           ======================    ======================

LIABILITIES & EQUITY
   CURRENT LIABILITIES
     Accounts payable                                                      $                1,391    $                    0
                                                                           ----------------------    ----------------------

                                              TOTAL CURRENT LIABILITIES                     1,391                         0

   STOCKHOLDERS' EQUITY
     Common Stock $.001 par value:
       Authorized - 100,000,000 shares
       Issued and outstanding 6,000,000 shares                                              6,000                     6,000
     Additional paid-in capital                                                            20,000                    20,000
     Deficit accumulated during the development stage                                     (22,539)                  (20,463)
                                                                           ----------------------    ----------------------

                                             TOTAL STOCKHOLDERS' EQUITY                     3,461                     5,537
                                                                           ----------------------    ----------------------

                                                                           $                4,852    $                5,537
                                                                           ======================    ======================
</TABLE>


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<PAGE>



                              ULTRONICS CORPORATION
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                           3/14/90
                                                                     Three Months Ended                   (Date of
                                                                          March 31,                     inception) to
                                                                   2002               2001                 3/31/02
                                                            -----------------   -----------------  -----------------------
<S>                                                         <C>                 <C>                <C>
Net sales                                                   $               0   $               0  $                     0
Cost of sales                                                               0                   0                        0
                                                            -----------------   -----------------  -----------------------

                                              GROSS PROFIT                  0                   0                        0

General and administrative expenses                                     2,076               2,172                   22,539
                                                            -----------------   -----------------  -----------------------

                                                  NET LOSS  $          (2,076)  $          (2,172) $               (22,539)
                                                            =================   =================  =======================

Basic and diluted net income (loss) per
   weighted average share                                   $             .00   $             .00
                                                            =================   =================

Weighted average number of common shares
   used to compute net income (loss) per
   weighted average share                                           6,000,000           6,000,000
                                                            =================   =================
</TABLE>


                                        4

<PAGE>



                              ULTRONICS CORPORATION
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                                                      3/14/90
                                                                                                                     (Date of
                                                                              Three Months Ended March 31,         Inception) to
                                                                                2002               2001               3/31/02
                                                                         -----------------   -----------------  ------------------
OPERATING ACTIVITIES
<S>                                                                      <C>                 <C>                <C>
   Net (loss)                                                            $          (2,076)  $          (2,172) $          (22,539)
   Adjustments to reconcile net (loss) to cash used
     by operating activities:
       Increase (decrease) in accounts payable                                       1,391               1,487               1,391
                                                                         -----------------   -----------------  ------------------
                                                          NET CASH USED
                                                BY OPERATING ACTIVITIES               (685)               (685)            (21,148)

INVESTING ACTIVITIES                                                                     0                   0                   0
                                                                         -----------------   -----------------  ------------------

                                               NET CASH PROVIDED (USED)
                                                BY INVESTING ACTIVITIES                  0                   0                   0

FINANCING ACTIVITIES
   Proceeds from sale of common stock                                                    0                   0              26,000
                                                                         -----------------   -----------------  ------------------

                                                   NET CASH PROVIDED BY
                                                   FINANCING ACTIVITIES                  0                   0              26,000
                                                                         -----------------   -----------------  ------------------

                                                       DECREASE IN CASH
                                                   AND CASH EQUIVALENTS               (685)               (685)              4,852

Cash and cash equivalents at beginning of year                                       5,537               9,493                   0
                                                                         -----------------   -----------------  ------------------

                                              CASH AND CASH EQUIVALENTS
                                                       AT END OF PERIOD  $           4,852   $           8,808  $            4,852
                                                                         =================   =================  ==================
</TABLE>






                                        5

<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

The Company has had no operational  history and has yet to engage in business of
any kind. Expenses of $2,076 during the quarter ended March 31, 2002 are related
to the costs of  regulatory  filings to maintain the  Company's  status as a SEC
reporting  entity.  These costs were borne by another  entity prior to December,
1998. All risks inherent in new and  inexperienced  enterprises  are inherent in
the Company's business.  The Company has not made a formal study of the economic
potential of any business.  At the present,  the Company has not  identified any
assets or business opportunities for acquisition.

The Company has limited  liquidity  and  available  capital  resources,  such as
credit  lines,  guarantees,  etc.  and  should a  merger  or  acquisition  prove
unsuccessful,  it is possible  that the Company may be dissolved by the State of
Nevada for  failing to file  reports.  Should  management  decide not to further
pursue its acquisition activities, management may abandon its activities and the
shares of the Company would become worthless.

Based on current economic and regulatory conditions, Management believes that it
is possible, if not probable, for a company like the Company,  without assets or
liabilities, to negotiate a merger or acquisition with a viable private company.
The opportunity arises principally because of the high legal and accounting fees
and the  length  of time  associated  with the  registration  process  of "going
public".  However,  should any of these conditions  change,  it is very possible
that there would be little or no economic  value for anyone  taking over control
of the Company.

                           PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K

     (a) Exhibits
         None.

     (b) Reports on Form 8-K
         None.

                                   SIGNATURES

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

                              ULTRONICS CORPORATION



Dated:   May 10, 2002         By:  /s/ W. Reed Jensen
         --------------           -----------------------------------------
                              W. Reed Jensen, President and Director


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