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

                                   FORM 10-QSB

(Mark One)

[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 33-55254-42
                                   -----------

                        QUANTITATIVE METHODS CORPORATION
                        --------------------------------
        (Exact name of small business issuer as specified in its charter)

           NEVADA                                                  87-0485310
-------------------------------                              -------------------
(State or other jurisdiction of                                   (IRS Employer
incorporation or organization)                               Identification No.)

                      7575 Trans-Canada Highway, Suite 500
                           St-Laurent (Quebec) Canada
                                     H4T 1V6
         (Address of principal executive offices, including postal code)

          Issuer's telephone number, including area code:(888) 713-2222
                                                          --------------

Check  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 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. [X] Yes [ ] No

The  number of shares  outstanding  of each of the  issuer's  classes  of common
equity, as of the latest practicable date.

         Class                                Outstanding as of May 15, 2002
-------------------------------------         ------------------------------
$.001 PAR VALUE CLASS A COMMON STOCK                   10,300,000 SHARES
                       DOCUMENTS INCORPORATED BY REFERENCE
                                      NONE



                                        1

<PAGE>




                        QUANTITATIVE METHODS CORPORATION

                           FORM 10-QSB/MARCH 31, 2002

                                TABLE OF CONTENTS




General
Index


PART I


 Item 1. -  Consolidated Financial Statements:

        Balance Sheets -
            March 31, 2002 (Unaudited) and December 31, 2001 (Audited)     3

        Statements of Operations - (Unaudited)
            Three Months ended March 31, 2002 and 2001
               and from Date of Inception to March 31, 2002                4

        Statements of Cash Flows - (Unaudited) Three Months ended
            March 31, 2002 and 2001
               and from Date of Inception to March 31, 2002                5

        Notes to Consolidated Financial Statements                         6


Item 2. - Management's Discussion and Analysis of
          Financial Condition
          and Results of Operations                                        9



                                        2

<PAGE>



                                     PART I
                              FINANCIAL INFORMATION

ITEM 1. - Financial Statements.

                 QUANTITATIVE METHODS CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
                           CONSOLIDATED BALANCE SHEETS
                         (expressed in Canadian dollars)

<TABLE>
<CAPTION>
                                                                      March 31,               December 31,
                                                                        2002                      2001
                                                                  ----------------           ---------------
                                                                     (Unaudited)                (Audited)
ASSETS
     CURRENT ASSETS
<S>                                                               <C>                        <C>
         Accounts receivable                                      $         10,437           $         9,929
         Income tax recoverable                                             32,719                    32,719
                                                                  ----------------           ---------------

                           TOTAL CURRENT ASSETS                             43,156                    42,648

PLANT & EQUIPMENT                                                           19,820                    23,367
                                                                  ----------------           ---------------

OTHER ASSETS
     Patents and trademarks                                                  6,777                     9,163
                                                                  ----------------           ---------------
                                                                             6,777                     9,163
                                                                  ----------------           ---------------


TOTAL ASSETS                                                      $         69,753           $        75,178
                                                                  ================           ===============

LIABILITIES & (DEFICIT)
     CURRENT LIABILITIES
         Cash overdraft                                           $         16,436           $         8,566
         Bank loan                                                          16,747                    16,747
         Accounts payable and accrued expenses                             364,035                   365,616
         Payable - shareholders                                            324,809                   325,412
                                                                  ----------------           ---------------

                      TOTAL CURRENT LIABILITIES                            722,027                   716,341

STOCKHOLDERS' (DEFICIT)
     Common Stock $.001 (US) par value:
         Authorized - 25,000,000 shares
         Issued and outstanding
         10,300,000 shares                                                  15,475                    15,475
     Additional paid-in capital                                          1,836,072                 1,836,072
     Deficit accumulated during the
         development stage                                         (     2,503,821)           (    2,492,710)
                                                                  ----------------           ---------------


         TOTAL STOCKHOLDERS' (DEFICIT)                             (       652,274)           (      641,163)
                                                                  ----------------           ---------------

                                                                  $         69,753           $        75,178
                                                                  ================           ===============
</TABLE>


                                        3

<PAGE>



                 QUANTITATIVE METHODS CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                         (expressed in Canadian dollars)
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                               Three Months Ended               Date of Inception
                                                                    March 31,                      to March 31,
                                                           2002                  2001                  2002
                                                     ----------------      ---------------       ---------------
<S>                                                  <C>                   <C>                   <C>
SALES                                                $              0      $             0       $             0
                                                     ----------------      ---------------       ---------------

General Administrative expenses
     Professional fees                                              0                    0               172,571
     Consulting                                                     0                    0               744,034
     Salaries and fringe benefits                                   0                    0               370,641
     Rent                                                         555                    0               119,702
     Traveling and business promotion                           2,021                    0               128,486
     Office expenses                                              584                2,062                53,626
     Research and development                                       0                    0               344,627
     Telephone and communication                                1,425                  439               106,587
     Car expenses                                                   0                    0                18,235
     Insurance, taxes and licenses                                  0                    0                24,583
     Interest and bank charges                                    254                  339                24,591
     Interest on bank loan                                        338                  136                86,140
     Loss on disposal of investment                                 0                    0                35,946
     Depreciation of fixed assets                               3,547                3,547               125,865
     Depreciation of deferred expenses                          2,387                2,439                52,490
     Interest income                                                0        (       1,485)      (        14,300)
                                                     ----------------      ---------------       ---------------

Total general and administrative expenses                      11,111                7,477             2,393,824
                                                     ----------------      ---------------       ---------------

                           NET INCOME (LOSS)
                         BEFORE INCOME TAXES           (       11,111)       (       7,477)      (     2,393,824)
                                                     ----------------      ---------------       ---------------

                                INCOME TAXES                        0                    0                     0
                                                     ----------------      ---------------       ---------------

                           NET INCOME (LOSS)         $ (       11,111)     $ (       7,477)      $ (   2,393,824)
                                                     ================      ===============       ===============

BASIC AND DILUTED LOSS
     PER SHARE
Net (loss) per weighted
     average share                                   $ (          .00)      $ (        .00)
                                                     ================       ==============

Weighted average number of common
     shares used to compute net (loss)
     per weighted average share                            10,300,000           10,300,000
                                                     ================       ==============

</TABLE>


                                                         4

<PAGE>



                 QUANTITATIVE METHODS CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                         (expressed in Canadian dollars)
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                               Three Months Ended               Date of Inception
                                                                    March 31,                      to March 31,
                                                           2002                  2001                  2002
                                                     ----------------      ---------------       ---------------
OPERATING ACTIVITIES
<S>                                                  <C>        <C>        <C>         <C>       <C>     <C>
Net earnings (loss)                                  $ (       11,111)    $ (        7,477)    $ (     2,393,824)
Items not requiring cash outlays:
     Loss on disposal of investment                                 0                    0                34,845
     Stock issued for services                                      0                    0               290,190
     Depreciation of fixed assets
         and deferred costs                                     5,933                5,985               178,354
     Investment tax credit adjustment                               0                    0                21,554
     Decrease in value of software
         development costs                                          0                    0               172,682
                                                     ----------------      ---------------       ---------------
                                                       (        5,178)      (        1,492)      (     1,696,199)

Changes in non-working capital items                   (        2,088)               7,725               316,073
                                                     -----------------     ---------------       ---------------

                NET CASH PROVIDED (REQUIRED)
                     BY OPERATING ACTIVITIES           (        7,266)               6,233         (   1,380,126)
                                                     ------------------    ---------------       ---------------

INVESTING ACTIVITIES
     Acquisition of investment                                      0                    0         (     100,747)
     Proceeds of disposal of investment                             0                    0                65,902
     Increase in software development costs                         0                    0             ( 172,682)
     Acquisition of fixed assets
         and deferred expenses                                      0                    0         (     204,952)
                                                     ----------------      ---------------       ---------------

                             NET CASH (USED)
                     BY INVESTING ACTIVITIES                        0                    0         (     412,479)
                                                     ----------------      ---------------       ---------------

FINANCING ACTIVITIES
     Variation of advances from a shareholder          (          604)      (        6,950)              324,809
     Net proceeds of issuance of shares                             0                    0             1,451,360
     Addition to long-term debt                                     0                    0               134,680
     Repayment of long-term debt                                    0                    0         (     134,680)
                                                     ----------------      ---------------       ---------------

                    NET CASH PROVIDED (USED)
                     BY FINANCING ACTIVITIES           (          604)      (        6,950)            1,776,169
                                                     ----------------      ---------------       ---------------

                 INCREASE (DECREASE) IN CASH
                        AND CASH EQUIVALENTS           (        7,870)      (          717)      (        16,436)

                   CASH AND CASH EQUIVALENTS
                      AT BEGINNING OF PERIOD           (        8,566)      (        1,446)
                                                     ----------------      ----------------      ---------------

                   CASH AND CASH EQUIVALENTS
                            AT END OF PERIOD         $ (       16,436)     $ (       2,163)      $ (      16,436)
                                                     ================      ===============       ===============

              CASH PAID FOR INTEREST                 $            338     $            136       $        86,140
</TABLE>

                                        5

<PAGE>



                 QUANTITATIVE METHODS CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 March 31, 2002

The unaudited consolidated financial statements for the quarter ended March 31,
2002, 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' deficit 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. The
results of operations for interim periods are not necessarily indicative of
results to be achieved for full fiscal years. For further information, refer to
the Company's annual consolidated financial statements and related footnotes
included on Form-10KSB for the year ended December 31, 2001.

NOTE 1: INCORPORATION AND NATURE OF BUSINESS

         Quantitative Methods Corporation, a development stage enterprise, was
         incorporated under the laws of the State of Nevada on July 26, 1990.
         The Company acquired 100% ownership of Softguard Enterprises, Inc., a
         software development company. Softguard was incorporated in June 23,
         1995, to engage in the technical product research and development and
         commercialization of the "SLNS" and "QUORUM" products for use in the
         field of information systems management and security. Softguard is a
         development stage enterprise and has had no revenues to date.

         The historical financial statements prior to December 31, 1998 are
         those of Softguard Enterprises Inc.

NOTE 2: BASIS OF FINANCIAL STATEMENT PRESENTATION AND GOING CONCERN ASSUMPTION

         The consolidated financial statements are expressed in Canadian dollars
         and have been prepared in accordance with accounting principles
         generally accepted in the United States of America.

         The Company has incurred operating losses since inception. At March 31,
         2002, the subsidiary has an accumulated deficit of $2,051,944.

         In view of these matters, the Company's continued existence is
         dependent upon its ability to generate sufficient cash flow to cover
         operating expenses and to invest in future operations.

         Management's goals are to increase revenues and shareholder value
         through acquisitions of business opportunities in the technology
         sector. QTTM's management believes that actions presently being taken
         to obtain additional capital investments through private placement or
         other financing will provide adequate working capital over the next
         twelve months and enable the Company to continue as a going concern.


                                        6

<PAGE>



                 QUANTITATIVE METHODS CORPORATION AND SUBSIDIARY
                          (A Development Stage Company)
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
                                 March 31, 2002


NOTE 3: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

         Accounting Method
         The Company recognizes income and expenses based on the accrual method
         of accounting.

         Consolidation
         The consolidated financial statements for March 31, 2002 include the
         accounts  of  the  Company and  its  wholly owned subsidiary, Softguard
         Enterprises, Inc. ("Softguard").

         Softguard is currently the main line of business for the Company. All
         significant inter-company transactions have been eliminated on
         consolidation.

         Cash and Cash Equivalents
         For financial statement purposes, the Company considers all highly
         liquid investment with an original maturity of three months or less
         when purchased to be cash equivalents.

         Dividend Policy
         The Company has not yet adopted any policy regarding payment of
         dividends.

         Earnings (Loss) Per Share
         Earnings or loss per common and common equivalent share is computed by
         dividing net earnings (loss) by the weighted average common shares
         outstanding during each period.

         Fixed Assets and Deferred expenses
         Depreciation and Amortization
         Fixed assets and deferred expenses are accounted for at cost. The
         Company depreciates its fixed assets and deferred expenses according to
         the following methods and annual rates:
         Computer equipment             Declining-balance method       30%
         Computer software              Declining-balance method       30%
         Furniture and fixtures         Declining-balance method       20%
         Office equipment               Declining-balance method       20%
         Leasehold Improvements         Straight-line method           33%
         Deferred expenses              Straight-line method           20%

         The carrying value of the property and equipment is evaluated whenever
         significant events of changes occur that might indicate an impairment
         through comparison of the carrying value to the net recoverable amount.

         Revenue Recognition
         The Company has not recognized any revenue to date.


                                        7

<PAGE>



         Research and Development Costs
         All research and development costs, which establish technological
         advancement, are charged to operations in the year in which they are
         incurred.

         Income Taxes
         The Company records the income tax effect of transactions in the same
         year that the transactions enter into the determination of income,
         regardless of when the transactions are recognized for tax purposes.
         Tax credits are recorded in the year realized.

         The Company uses the assets and liabilities approach for financial
         accounting and reporting of income taxes. Under this method, deferred
         tax assets and liabilities are recognized for the expected future tax
         consequences of events that have been recognized in the financial
         statements or tax returns. Deferred tax assets and liabilities are
         measured using tax rates expected to apply to taxable income in the
         years in which those temporary differences are expected to be recovered
         or settled. The effect on deferred tax assets and liabilities of a
         change in tax rates is recognized in earnings in the period in which
         the change occurs.

         Use of Estimates
         The financial statements have been prepared in conformity with
         generally accepted accounting principles, and as such, requires
         management to make estimates and assumptions that affect the reported
         amounts of assets, liabilities, revenues and expenses during the
         reporting period. Estimates also affect the disclosure of contingent
         assets and liabilities at the date of the financial statements. Actual
         results could differ from the estimates.

         Fair Value of Financial Instruments
         Due to their short-term maturity, the carrying values of certain
         financial instruments were assumed to approximate their fair values.
         The financial instruments include: sales tax receivable and advances to
         common control company included in current assets, trade accounts
         payable, accrued liabilities, due to a director and demand loans
         included in current liabilities.

         The fair value of these financial instruments is not significantly
         different than their carrying amounts.

         Credit Risk
         The Company's exposure to credit risk is nil.

         Interest Rate Risk
         The subsidiary is not exposed to interest rate risk on the bank loan
         because the rate of interest is a fixed preferential rate. Changes in
         the interest rate would therefore not have a significant effect on the
         net loss, deficit or financial position of the Company.

         Translation of Foreign Currencies
         Monetary assets and liabilities are translated at the month-end
         exchange rate. Any gain or loss due to exchange fluctuation is charged
         to the statement of loss.


                                        8

<PAGE>



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

History and Purpose
Quantitative Methods Corporation ("QTTM" or the "Company") was incorporated
under the laws of the State of Nevada on July 26th, 1990. The Company's common
stock is currently traded on the OTC Bulletin Board under the symbol "QTTM".

On January 8th, 1999, the board of directors of QTTM entered into an Agreement
with Softguard Enterprises Inc. ("Softguard"), a private Canadian corporation,
whereby the Company issued and delivered 7,650,000 shares of its Common Stock
bearing a restrictive legend, in exchange for which issuance; QTTM acquired all
of the outstanding shares of Softguard. The transaction was exempt from the
registration requirements of the Securities Act of 1933 by virtue of Section
4(2) thereof.

Following the transaction the former shareholders of Softguard owned 82% of the
outstanding shares of the Company. No material relationship exists between the
former management and directors of Quantitative Methods Corporation and the
current management and directors.

Business Activities
Since its incorporation in June 1995, Softguard Enterprises Inc. has dedicated
itself to the research and product development of technologies for use in the
field of information systems management and security. To ensure that customer
security, performance and robustness of purpose requirements will be met at all
times; Softguard has engineered a unique Internet client/server system
technology based on a series of Master, Sub-Station and Proxy servers.

Softguard is a development stage enterprise and has had no revenues to date.
Softguard's resources have been committed to the implementation of
state-of-the-art Internet protocols to create leading-edge software security
solutions in the development of a discreet, non-intrusive, intelligent and
universal architecture. The system was developed in a Unix environment, based on
Linux. The free POSIX operating system architecture is robust, efficient and
stable.

Reaching the final development stages of the system and core architecture, this
work has primarily consisted of the creation of two products that fall under the
following categories: A) Software License Notification Service ("SLNS"), and B)
Quorum Document Authentication System ("Quorum").

The working prototype of SLNS was designed to provide customers with a secure,
private and efficient means of verifying the origin, legality or integrity of
software within their computing environment. It also provides timely access to
product upgrade and security information.

Quorum provides technology for document validation, version control, and
distributed annotation and approval for organizations that need to verify that a
given file is an authentic replica of an original.

Softguard has submitted a patent application for SLNS to the U.S. Department of
Commerce, Patent and Trademark Office. The application has been examined and
allowed for issuance. Softguard also has patent pending for the SLNS in Canada
and the contracting state of the European Patent Convention.

Softguard hopes to be able to expand the core technology and the majority of the
existing code to support numerous applications in the secure circulation of
digital information, including sound and image files, online copyright control,
document security and confidentiality audit, as well as virus protection; in
short, supporting the intellectual property protection of every kind of
computerized data.

                                        9

<PAGE>



The existing Softguard technology allows for the identification of document
content on a number of different bases, including physical format, exact form,
and original content before editing. The architecture underlying this
identification is inherently extendible, employing patented techniques to adapt
analysis to the nature of the content under consideration, in cooperation with a
distributed Internet database. Further development is anticipated in the
direction of content-type directed analysis and identification, for instance in
matching documents with source material after re-encoding in formats such as MP3
or JPEG.

The market for the Company's Internet products is highly competitive, and QTTM
expects to encounter an increase in competition. More and more companies are
turning their interests and resources towards security issues since the
resolution of the Y2K problem. It is likely that the competing entities will
have significantly greater experience, resources, facilities, contacts and
managerial expertise and as a result will be in a better position than the
Company to obtain access and engage in the proposed business. The Company may
not be in a position to compete with larger and more experienced entities.
Consequently, business opportunities in which the Company may ultimately
participate are likely to be very risky and extremely speculative. Many of the
Company's competitors have significantly greater research and development,
marketing and financial resources and therefore, represent substantial
competition.

To meet the objectives of its business plan in the short-term and to invest in
and ensure sustainable growth of a diversified portfolio the Company's main
focus is to take advantage of potential business ventures that would provide a
source of eventual profit to the Company.

During 1999, the Company entered into a verbal agreement to acquire 100%
interest in Solar Pro Reg'd (Gestion Danpe Inc.) ("Solar Pro"), a Canadian-based
solar technology equipment manufacturer and distributor. With this acquisition,
the Company would receive manufacturing equipment, prototypes, inventory,
accounts receivable and an established market presence in Canada and the United
States. Gestion Danpe, Inc. was incorporated in March 1991 and has operated
under the registered name of Solar Pro since August 1996.

In September 2000, Solar Pro relocated their manufacturing facilities to
Richmond, (Quebec) Canada, where they will continue to expand operations and
focus resources on product development, sales and distribution.

On February 15, 2001, Solar Pro received a Certificate of Compliance, under
Certificate number 1143400, Project number 1143400 and Master Contract number
207583, from CSA International for their full canopy tanning beds (solar units).
The products are now eligible to bear the CSA Mark with adjacent indicator "C"
and "US". These markings signify that the product has been evaluated to the
applicable CSA and ANSI/UL Standards, for use in Canada and the U.S. This
includes products eligible to bear the NRTL indicator. NRTL, i.e. Nationally
Recognized Testing Laboratory, is a designation granted by the U.S. Occupational
Safety and Health Administration (OSHA) to laboratories, which have been
recognized to perform certification to U.S. Standards.

As a result of these recent developments, the Company hopes to finalize this
acquisition in 2002. Solar Pro is a top-line manufacturer using anodized
extruded aluminum in the construction of high-end solar units that have minimal
assembly requirements. The primary advantage of these units is the durable, high
quality finish that extends the useful life of the product line for commercial
use.

Based on funding from QTTM, Solar Pro hopes to expand their manufacturing
facilities in order to increase revenues and focus resources on product
development, marketing and distribution.

                                       10

<PAGE>



Operating Results
As a result of the foregoing, the Company incurred losses from continuing
operations of $11,111 (CDN) for three months ended March 31, 2002 as compared to
a losses of $7,477 (CDN) for the corresponding periods in 2001. The increase of
$3,634 (CDN) in general and administrative expenses between the two years is
mainly attributable to the increased cost of business promotion and telephone
expenses.

The majority of the losses incurred by the Company were the result of the
on-going efforts of the Company's subsidiary Softguard in promoting its software
security and document authentication programs. Management believes that by
substantially reducing the corporate overhead costs the Company will be able to
continue its operations.

Softguard no longer plans to have an outside firm complete the development
activities and customize its products. As a result, Softguard has temporarily
suspended all research and development pending further capital investments.

Marketing Plan
Management is of the opinion that the Company's SLNS technology, while as yet
untested in the marketplace, represents a viable business opportunity. The SLNS
will enable the corporate or other users to ascertain if their systems contain
unlicensed, unauthorized or other "rogue" software. Management believes that the
market for this product is significant. Management is unaware of any other
product currently available that addresses this need.

The Company intends to implement a cost-effective marketing strategy by
developing a public relations campaign to take advantage of the opportunities
that are being presented in the technology industry with emphasis on
Internet-related businesses. The Company plans to prepare detailed marketing
material, and intends to step-up its marketing activities in 2002 to solicit new
business.

Liquidity and Capital Resources
The reduction of research and development staff was a result of Softguard
focusing efforts on seeking additional working capital to further the
development of its products. The majority of the development of the SLNS and
Quorum products was put on hold until more outside financing becomes available.

Conclusion
While management believes, although there can be no assurance, that the Company
is sufficiently capitalized to continue operations for the next twelve months,
management is currently seeking additional capital investment to fulfill
research and development requirements which could have a material impact on
short-term growth objectives.

Management's goals are to increase revenues and shareholder value through the
acquisition of potentially favorable business opportunities. To realize its
business plan, QTTM will need to obtain additional capital through private
placements or other financing to pursue acquisitions in the technology sector
and increase sales that will permit the Company to satisfy its working capital
requirements and to continue as a going concern.


                                       11

<PAGE>


                                   SIGNATURES

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


                        QUANTITATIVE METHODS CORPORATION



Dated:   May 17, 2002   By: s\ Robert L. Seaman
                            ------------------------------------
                        ROBERT L. SEAMAN, President and Director


                                       12