U.S. SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, D.C.  20549

                             FORM 10-KSB

[X] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934

For the fiscal year ended December 31, 2005    Commission File No. 333-83125

[  ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

     For the transition period from           to           .

                     FIRST GROWTH INVESTORS, INC.
            (Name of small business issuer in its charter)

           Nevada                                         87-0569467
     State or other jurisdiction of                    (I.R.S. Employer
     incorporation or organization                     Identification No.)

           2508 South 1300 East, Salt Lake City, Utah 84106
         (Address of principal executive offices)  (zip code)

Issuer's telephone number, including area code:  (801) 466-7808


    (Former name or former address, if changed since last report.)

Securities registered under Section 12(b) of the Exchange Act:  None
Securities registered under Section 12(g) of the Act:  None

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
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.                                Yes   X      No

Check if no disclosure of delinquent filers in response to Item 405 of
Regulation S-B is contained in this form, and no disclosure will be contained,
to the best of the Issuer's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. (Not applicable)                  [   ]

Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Exchange Act).              Yes   X      No
The Issuer's revenues for its most recent fiscal year.     $   -0-

As of February 8, 2006, the aggregate market value of voting stock held by
non-affiliates was approximately $175,000.

The number of shares outstanding of the Issuer's common stock at December 31,
2005: 2,000,000

<PAGE>

                                PART I

ITEM 1.   DESCRIPTION OF BUSINESS

     (A)  BUSINESS DEVELOPMENT.

     First Growth Investors, Inc. (the "Company") was incorporated under the
laws of the State of Nevada on September 9, 1997.  In connection with the
organization, the founders contributed $5,050 cash to initially capitalize
First Growth Investors in exchange for 1,750,000 shares of common stock.

     On October 15, 1997, First Growth Investors commenced a public offering
of up to 250,000 shares of its common stock, in reliance upon Rule 504 of
Regulation D, promulgated by the U.S. Securities & Exchange Commission under
the Securities Act of 1933.  The offering closed in November, 1997.  The
Company sold 250,000 shares of common stock, at $.20 per share, and raised
gross proceeds of $50,000 increasing the total issued and outstanding common
stock to 2,000,000 shares.

     The Company then registered a public offering of its securities.  First
Growth Investors declared a distribution of 1,000,000 common stock purchase
warrants to shareholders of record as of September 30, 1999.  The Company
filed with the Securities and Exchange Commission a registration statement on
Form SB-2, Commission File No. 333-83125, which became effective October 8,
1999.  Pursuant thereto the Company then distributed 1,000,000 warrants.  The
warrants were exercisable at $1.00 per share, on or before June 30, 2002. The
warrants have now expired, and no securities were ever sold pursuant to the
offering.

     (B)  BUSINESS OF COMPANY.

     First Growth Investors was formed to take advantage of what management
believed was a money making opportunity that could be realized through buying,
selling and investing in select vintages of wines.  The philosophy was simple;
buy California's and France's premier red wines when first released and hold
them for investment, appreciation and later resale, then sell the wines after
a 12 to 24 month period.  It was anticipated, but not assured, that the
appreciation of the wines would be greatest within this period.  The Company
would then take any proceeds from investment, roll it over, and reinvest in
the next release of the wines.  While the initial purchase of wines, an
investment costing about $50,000, was subsequently sold for an amount which
generated a gross profit in excess of $20,000, the Company did not continue to
be successful in this venture.  This business was not successful, and
operations were eventually discontinued.  The Company is not presently engaged
in any significant business activities and has no operations. Presently the
Company's principal activity has been to investigate potential acquisitions.
There is no assurance the Company could become involved with any business
venture, especially any business venture requiring significant capital.

<PAGE>

     The Company is currently negotiating a potential acquisition.  The
potential acquisition will be subject to certain conditions precedent and no
assurance can be given that the potential acquisition will be completed. If
the potential acquisition is completed it will involve a change in management
and shareholder control of the company.

ITEM 2.   PROPERTIES

     First Growth Investors has no office facilities and does not presently
anticipate the need to lease commercial office space or facilities. For now
the President's address is being used as the business address.  The Company
may lease commercial office facilities in the future at such time as
operations have developed to the point where the facilities are needed, but
has no commitments or arrangements for any facilities. There is no assurance
regarding the future availability of commercial office facilities or terms on
which the Company may be able to lease facilities in the future, nor any
assurance regarding the length of time the present arrangement may continue.

ITEM 3.   LEGAL PROCEEDINGS.

     The Company is not a party to any material pending legal proceedings
and, to the best of its knowledge, no action has been threatened by or against
the Company.

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     No matter was submitted to a vote of security holders through the
solicitation of proxies or otherwise during the fourth quarter of the fiscal
year covered by this report.

                               PART II

ITEM 5.   MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

     (A)  MARKET INFORMATION.

     The Company's initial public offering closed November, 1997.  The Common
Stock of the Company did not begin until October, 1998 to be quoted on the
Electronic Bulletin Board maintained by the National Association of Securities
Dealers, Inc. The common stock is quoted under the symbol FGIV, but has not
been traded in the over-the-counter market except on a very limited and
sporadic basis. The following sets forth high and low bid price quotations for
each calendar quarter during the last two fiscal years that trading occurred
or quotations were available. Such quotations reflect inter-dealer prices,
without retail mark-up, mark-down or commission and may not represent actual
transactions.

<PAGE>

     Quarter Ended                  High                      Low
     March 31, 2004                $ .40                    $ .30
     June 30, 2004                 $ .40                    $ .40
     September 30, 2004            $ .40                    $ .25
     December 31, 2004             $ .30                    $ .30

     March 31, 2005                $ .30                    $ .30
     June 30, 2005                 $ .75                    $ .05
     September 30, 2005            $ .75                    $ .75
     December 31, 2005             $ .65                    $ .65

     (B)  HOLDERS.

     As of March 31, 2006, there were 28 record holders of the Common Stock.

     (C)  DIVIDENDS.

     First Growth Investors has not previously paid any cash dividends on
common stock and does not anticipate or contemplate paying dividends on common
stock in the foreseeable future.  Management's present intention is to utilize
all available funds for the development of the business.  The only
restrictions that limit the ability to pay dividends on common equity or that
are likely to do so in the future, are those restrictions imposed by law.
Under Nevada corporate law, no dividends or other distributions may be made
which would render a company insolvent or reduce assets to less than the sum
of liabilities plus the amount needed to satisfy outstanding liquidation
preferences.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.
          PLAN OF OPERATIONS.

     The Company is not presently engaged in any business activities and has
no operations,  income producing assets or significant operating capital.
Management's plan of operation for the next twelve months is to continue to
receive shareholder advances as necessary to provide general working capital
to (i) handle the administrative and reporting requirements of a public
company, and (ii) search for potential businesses, products, technologies and
companies for acquisition. Presently the Company's principal activity has been
to investigate potential acquisitions. At this time, we have no significant
operating capital and do not know how long it will be necessary to fund
necessary expenditures from shareholder advances, of which there is no
assurance. There is also no assurance the Company could become involved with
any business venture, especially any business venture requiring significant
capital. We cannot anticipate what, if any, capital commitments for product
research and development or significant purchases of plant or equipment, or
change in the number of employees there may be, prior to completing a suitable
business acquisition.  At December 31, 2005, indebtedness of the Company to
certain shareholders in the amount of $6,937 was forgiven and contributed to
capital.

<PAGE>

     The accompanying financial statements have been prepared in conformity
with generally accepted accounting principles, which contemplate continuation
of the Company as a going concern. However, the Company has incurred losses
since its inception.  These factors raise substantial doubt about the ability
of the Company to continue as a going concern. In this regard, management is
proposing to raise any necessary additional funds not provided by operations
through loans and/or through additional sales of its common stock.  Management
plans to maintain its filings and curtail operations and activities to keep it
in existence. This may require additional advances from stockholders to pay
accounting and legal fees associated with its filings. There is no assurance
that the Company will be successful in raising this additional capital or in
achieving profitable operations. The financial statements do not include any
adjustments that might result from the outcome of these uncertainties.

ITEM 7.   FINANCIAL STATEMENTS.

     See attached Financial Statements and Schedules.

ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
          FINANCIAL DISCLOSURE.

     There are not and have not been any disagreements between the Company
and their accountants on any matter of accounting principles or practices or
financial statement disclosure.

ITEM 8A.  CONTROLS AND PROCEDURES.

     The issuer's principal executive officer or officers and principal
financial officer or officers, or persons performing similar functions, are
responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and
internal control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the issuer and have:

     designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under their supervision,  to
ensure that material information relating to the issuer, including its
consolidated subsidiaries, is made known to them by others within those
entities, particularly during the period in which the periodic reports are
being prepared;

     designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under their
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;

     evaluated the effectiveness of the issuer's disclosure controls and
procedures as of the end of the fiscal year (the "Evaluation Date").

<PAGE>

     Based on their evaluation as of the Evaluation Date, their conclusions
about the effectiveness of the disclosure controls and procedures were that
nothing indicated:

     any significant deficiencies in the design or operation of internal
controls which could adversely affect the issuer's ability to record, process,
summarize and report financial data;

     any fraud, whether or not material, that involves management or other
employees who have a significant role in the issuer's internal controls; or

     any material weaknesses in internal controls that have been or should be
identified for the issuer's auditors and disclosed to the issuer's auditors
and the audit committee of the board of directors (or persons fulfilling the
equivalent function).

     Changes in internal control over financial reporting. There was no
significant change in the issuer's internal control over financial reporting
that occurred during the most recent fiscal quarter that has materially
affected, or is reasonably likely to materially affect, the issuer's internal
control over financial reporting.

                               PART III

ITEM 9.   DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
          COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT

     (A)  IDENTIFY DIRECTORS AND EXECUTIVE OFFICERS.

     The following table sets forth the sole director and executive officer
of the Company, her age, and all offices and positions with the Company.  A
director is elected for a period of one year and thereafter serves until her
successor is duly elected by the stockholders and qualifies.  Officers and
other employees serve at the will of the Board of Directors.

<TABLE>
<S>                      <C>              <C>
                         Term Served As   Positions
Name of Director Age     Director/Officer With Company

Pam Jowett       52      Since inception  President &
                                          Secretary/Treasurer
</TABLE>

     A brief description of her background and business experience is as
follows:

     PAM JOWETT  serves as President, Secretary/Treasurer and Director of the
Company.  Ms. Jowett has been self employed for many years as a nail
technician in the beauty industry.  Ms. Jowett also serves as President and
Director of Fashion Tech International, Inc. another company subject to the
reporting requirements of the Securities Exchange Act of 1934.

<PAGE>

     The director holds no other directorships in any company subject to the
reporting requirements of the Securities Exchange Act of 1934.

     (B)  IDENTIFY SIGNIFICANT EMPLOYEES.

     None other than the person previously identified.

     (C)  FAMILY RELATIONSHIPS.

     None

     (D)  INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS.

     Except as described herein, no present officer or director of the
Company; 1) has had any petition filed, within the past five years, in Federal
Bankruptcy or state insolvency proceedings on such person's behalf or on
behalf of any entity of which such person was an officer or general partner
within two years of filing; or 2) has been convicted in a criminal proceeding
within the past five years or is currently a named subject of a pending
criminal proceeding; or 3) has been the subject, within the past five years,
of any order, judgment, decree or finding (not subsequently reversed,
suspended or vacated) of any court or regulatory authority involving violation
of securities or commodities laws, or barring, suspending, enjoining or
limiting any activity relating to securities, commodities or other business
practice.

     (E)  AUDIT COMMITTEE FINANCIAL EXPERT.  The issuer does not have an
audit committee financial expert serving on its audit committee, due to lack
of funds. The Company is not presently engaged in any significant business
activities and has no operations or assets.

     COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.  Section 16(a) is
inapplicable.

     CODE OF ETHICS. The issuer has adopted a code of ethics that applies to
the issuer's principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions. For purposes of this Item, the term code of ethics means written
standards that are reasonably designed to deter wrongdoing and to promote:
Honest and ethical conduct, including the ethical handling of actual or
apparent conflicts of interest between personal and professional
relationships; Full, fair, accurate, timely, and understandable disclosure in
reports and documents that the issuer files with, or submits to, the
Commission and in other public communications made by the issuer; Compliance
with applicable governmental laws, rules and regulations;  The prompt internal
reporting of violations of the code to the board of directors or another
appropriate person or persons; and Accountability for adherence to the code.
The issuer hereby undertakes to provide to any person without charge, upon
request, a copy of such code of ethics. Such request may be made in writing to
the board of directors at the address of the issuer.

<PAGE>

ITEM 10.  EXECUTIVE COMPENSATION.

     The Company has not paid any cash compensation to its executive officer
to date.

COMPENSATION OF DIRECTORS     None

EMPLOYMENT CONTRACTS AND TERMINATION OF EMPLOYMENT AND CHANGE-IN-CONTROL
ARRANGEMENTS

     The Company has not entered into any contracts or arrangements with any
named executive officer which would provide such individual with a form of
compensation resulting from such individual's resignation, retirement or any
other termination of such executive officer's employment with the Company or
its subsidiary, or from a change-in-control of the Company or a change in the
named executive officer's responsibilities following a change-in-control.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

     The following table contains stock ownership information about officers
or directors, and other stockholders who we know to be beneficial owners of
more that 5% of our stock. A beneficial owner of stock is any person who has
or shares the power to decide how to vote or whether to dispose of the stock.
<TABLE>
<S>                   <C>       <C>                  <C>
                      Title of  Amount & Nature of   % of
Name and Address       Class    Beneficial Ownership Class

Pam Jowett             Common   1,575,000 shares       79%
2508 S. 1300 E.
SLC, UT 84106

Lynn Dixon             Common     175,000 shares        9%
311 S. State, #460
SLC, UT 84111

All officers and       Common   1,575,000 shares       79%
directors as a group
(1person)

</TABLE>

     The foregoing amounts include all shares these persons are deemed to
beneficially own regardless of the form of ownership.


     The Company is negotiating a potential acquisition as referred to in
item 1 of this Form 10-KSB. In the event of completion of an acquisition, it
is the intent of Ms. Jowett to sell a substantial portion of her shares of the
Company's stock at or about the time of closing the acquisition at prices
which may be less than prices quoted in the OTC market place, if any. There is
no written agreement with respect to such sales.

<PAGE>

CHANGES IN CONTROL

     Pam Jowett has granted options, exercisable within two years from March
4, 2005, which allow certain persons the right to purchase up to 1,500,000
shares of her common stock at a price of $.02 per share.  The optionees are
set forth as follows:


<TABLE>
<S>                                  <C>                  <C>
Name (1)                             Shares               % of outstanding
                                                          Stock (2)

McCrae Associates LLC                832,500              41.625%
Elizabeth M. Funk
196 Fern Avenue
Litchfield, CT. 06759


Devonshire Partners, LLC             416,250              20.8125%
Thomas G. Kimble
311 So State Street #440
Salt Lake City , Utah 84111


Lynn Dixon                           241,250 (3)          12.0625%
311 So State Street #460
Salt Lake City , Utah 84111


Van L. Butler                         10,000                .5%
311 So State Street #440
Salt Lake City, Utah 84111
</TABLE>

(1)  The individual person shown with respect to any entity listed above has
been represented to the Issuer as the sole beneficial owner of said entity.

(2)  This assumes the exercise of the entire option and is based on 2,000,000
shares outstanding .

(3)  Does not include an additional 175,000 shares owned by Mr. Dixon.


ITEM 12.       CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     The Company has entered into certain transactions with officers,
directors or affiliates of the Company which include the following:

     In connection with the organization, initial stockholders paid an
aggregate of $5,050 cash to purchase 1,750,000 shares of Common Stock at a
price of $.0029 per share.

<PAGE>

     Except as disclosed in this item, in notes to the financial statements
or elsewhere in this report, the Company is not aware of any indebtedness or
other transaction in which the amount involved exceeds $60,000 between the
Company and any officer, director, nominee for director, or 5% or greater
beneficial owner of the Company or an immediate family member of such person;
nor any relationship in which a director or nominee for director of the
Company was also an officer, director, nominee for director, greater than 10%
equity owner, partner, or member of any firm or other entity which received
from or paid the Company, for property or services, amounts exceeding 5% of
the gross annual revenues or total assets of the Company or such other firm or
entity.

ITEM 13.       EXHIBITS.

     Exhibits to this report are all documents previously filed which are
incorporated herein as exhibits to this report by reference to registration
statements and other reports previously filed by the Company pursuant to the
Securities Act of 1933 and the Securities Exchange Act of 1934.

     Exhibits required by Item 601 of Regulation S-B.

          31. Certifications required by Rules 13a-14(a) or 15d-14(a).
          32. Section 1350 Certifications

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(1) AUDIT FEES
     The aggregate fees billed for each of the last two fiscal years for
professional services rendered by the principal accountant for the audit of
the Company's annual financial statements and review of financial statements
included in the Company's Form 10-Q (17 CFR 249.308a) or 10-QSB (17 CFR
249.308b) or services that are normally provided by the accountant in
connection with statutory and regulatory filings or engagements for those
fiscal years was $4,340  for the fiscal year ended December 31, 2004. and
$3,840 for the fiscal year ended December 31, 2005.

(2) AUDIT-RELATED FEES
     The aggregate fees billed in each of the last two fiscal years for
assurance and related services by the principal accountant that are reasonably
related to the performance of the audit or review of the Company's financial
statements was $-0- for the fiscal year ended December 31, 2004, and $-0- for
the fiscal year ended December 31, 2005.

(3) TAX FEES
     The aggregate fees billed in each of the last two fiscal years for
professional services rendered by the principal accountant for tax compliance,
tax advice, and tax planning was $250 for the fiscal year ended December 31,
2004, and $250 for the fiscal year ended December 31, 2005.

<PAGE>

(4) ALL OTHER FEES
     The aggregate fees billed in each of the last two fiscal years for
products and services provided by the principal accountant, other than the
services reported above was $-0- for the fiscal year ended December 31, 2004,
and $-0- for the fiscal year ended December 31, 2005.

(5) PRE-APPROVAL POLICIES AND PROCEDURES
     Before the accountant is engaged by the issuer to render audit or non-
audit services, the engagement is approved by the company's board of directors
acting as the audit committee.

<PAGE>










                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                           FINANCIAL STATEMENTS

                             DECEMBER 31, 2005


















<PAGE>






                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]




                                 CONTENTS

                                                          PAGE

        -   Report of Independent Registered Public
             Accounting Firm                                 1


        -   Balance Sheet, December 31, 2005                 2


        -   Statements of Operations, for the years
             ended December 31, 2005 and 2004
             and from inception on September 9, 1997
             through December 31, 2005                       3

        -   Statement of Stockholders' Equity (Deficit),
             from inception on September 9, 1997
             through December 31, 2005                   4 - 5

        -   Statements of Cash Flows, for the years
             ended December 31, 2005 and 2004
             and from inception on September 9, 1997
             through December 31, 2005                       6


        -   Notes to Financial Statements               7 - 11







<PAGE>


          REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



Board of Directors
FIRST GROWTH INVESTORS, INC.
Salt Lake City, Utah

We  have audited the accompanying balance sheet of First Growth Investors,
Inc.  [a  development  stage company] as of December  31,  2005,  and  the
related statements of operations, stockholders' equity (deficit) and  cash
flows  for  the years ended December 31, 2005 and 2004 and for the  period
from  inception  on September 9, 1997 through December  31,  2005.   These
financial  statements are the responsibility of the Company's  management.
Our  responsibility is to express an opinion on these financial statements
based on our audit.

We  conducted  our audits in accordance with the standards of  the  Public
Company  Accounting  Oversight  Board (United  States).   Those  standards
require  that we plan and perform the audit to obtain reasonable assurance
about  whether the financial statements are free of material misstatement.
An  audit  includes  examining, on a test basis, evidence  supporting  the
amounts  and  disclosures  in the financial  statements.   An  audit  also
includes   assessing  the  accounting  principles  used  and   significant
estimates  made by management, as well as evaluating the overall financial
statement  presentation.  We believe that our audits provide a  reasonable
basis for our opinion.

In our opinion, the financial statements referred to above present fairly,
in   all  material  respects,  the  financial  position  of  First  Growth
Investors, Inc. as of December 31, 2005, and the results of its operations
and  its cash flows for the years ended December 31, 2005 and 2004 and for
the  period from inception on September 9, 1997 through December 31, 2005,
in  conformity with accounting principles generally accepted in the United
States of America.

The  accompanying  financial statements have been  prepared  assuming  the
Company will continue as a going concern.  As discussed in Note 5  to  the
financial statements, the Company has incurred losses since inception  and
has  no  ongoing operations.  Further, the Company has current liabilities
in  excess of current assets.  These factors raise substantial doubt about
the  ability  of the Company to continue as a going concern.  Management's
plans  in  regards to these matters are also described  in  Note  5.   The
financial statements do not include any adjustments that might result from
the outcome of these uncertainties.



PRITCHETT, SILER, & HARDY, P.C.

March 8, 2006
Salt Lake City, Utah



<PAGE>



                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                               BALANCE SHEET


                                  ASSETS


                                                      December 31,
                                                          2005
                                                      ___________
CURRENT ASSETS:
  Cash                                                $         -
                                                      ___________
        Total Current Assets                                    -
                                                      ___________
                                                      $         -
                                                      ___________


              LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


CURRENT LIABILITIES:
  Accounts payable                                    $     1,045
  Accrued interest payable                                      -
                                                      ___________
        Total Current Liabilities                           1,045
                                                      ___________

STOCKHOLDERS' EQUITY (DEFICIT):
  Preferred stock, $.001 par value,
   1,000,000 shares authorized,
   no shares issued and outstanding                             -
  Common stock, $.001 par value,
   24,000,000 shares authorized,
   2,000,000 shares issued and
   outstanding                                              2,000
  Capital in excess of par value                           80,972
  Deficit accumulated during the
   development stage                                      (84,017)
                                                      ___________
        Total Stockholders' Equity (Deficit)               (1,045)
                                                      ___________
                                                      $         -
                                                      ___________







The accompanying notes are an integral part of these financial statements.

                                     - 2 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                         STATEMENTS OF OPERATIONS

                                           For the          From Inception
                                          Year Ended        on September 9,
                                         December 31,       1997, Through
                                    ______________________   December 31,
                                       2005        2004          2005
                                    __________  __________  ______________
REVENUE                             $        -  $        -  $            -

EXPENSES:
  General and administrative             7,235       6,980          20,870
                                    __________  __________  ______________

LOSS BEFORE OTHER INCOME
 (EXPENSE)                              (7,235)     (6,980)        (20,870)
                                    __________  __________  ______________

OTHER INCOME (EXPENSE):
  Interest Expense                        (330)     (1,650)         (7,891)
                                    __________  __________  ______________

LOSS BEFORE INCOME TAXES                (7,565)     (8,630)        (28,761)

CURRENT TAX EXPENSE                          -           -               -

DEFERRED TAX EXPENSE                         -           -               -
                                    __________  __________  ______________
LOSS FROM CONTINUING
OPERATIONS                              (7,565)     (8,630)        (28,761)
                                    __________  __________  ______________
DISCONTINUED OPERATIONS:
  Loss from operations of
    discontinued wine investment
    business (net of $0 in income
    taxes)                                   -           -         (54,506)
  Gain (loss) on disposal of
    discontinued wine investment
    business operations (net
    of $0 in income taxes                    -           -               -
                                    __________  __________  ______________
LOSS FROM DISCONTINUED
 OPERATIONS                                  -           -         (54,506)
                                    __________  __________  ______________
CUMULATIVE EFFECT OF CHANGE
 IN ACCOUNTING PRINCIPLE                     -           -            (750)
                                    __________  __________  ______________
NET LOSS                            $   (7,565) $   (8,630) $      (84,017)
                                    __________  __________  ______________
LOSS PER COMMON SHARE:
  Continuing operations                   (.00)       (.00)
  Discontinued operations                    -           -
  Gain (loss) on disposal of
     discontinued operations                 -           -


Cumulative effect of change in
     accounting principle                    -           -
                                    __________  __________
  Net Loss Per Common Share         $     (.00) $     (.00)
                                    __________  __________

The accompanying notes are an integral part of these financial statements.

                                     - 3 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)

              FROM THE DATE OF INCEPTION ON SEPTEMBER 9, 1997

                         THROUGH DECEMBER 31, 2005


                                                                    Deficit
                                                                  Accumulated
                     Preferred Stock     Common Stock  Capital in During the
                     ________________ _________________ Excess of Development
                      Shares  Amount    Shares  Amount  Par Value    Stage
                     _______ ________ _________ _______ _________ ___________
BALANCE, September 9,
 1997                      - $      -         - $     - $       - $         -

Shares issued to
 initial stockholders
 for cash, September
 18, 1997 at
 approximately
 $.0029 per share          -        - 1,750,000   1,750     3,300           -

Shares issued upon
 completion of
 offering of stock
 to the public at
 $.20 per share,
 November 1997             -        -   250,000     250    49,750           -

Direct costs of the
 offering of common
 stock to the public       -        -         -       -   (5,688)           -

Net income (loss) from
 September 9, 1997
 (inception) to
 December 31, 1997         -        -         -       -         -     (2,350)
                     _______ ________ _________ _______ _________ ___________
BALANCE, December 31,
 1997                      -        - 2,000,000   2,000    47,362     (2,350)

Net loss for the year
 ended December 31,
 1998                      -        -         -       -         -     (1,440)
                     _______ ________ _________ _______ _________ ___________
BALANCE, December 31,
 1998                      -        - 2,000,000   2,000    47,362     (3,790)

Net income for the
 year ended December
 31, 1999                  -        -         -       -         -      14,032
                     _______ ________ _________ _______ _________ ___________
BALANCE, December 31,
 1999                      -        - 2,000,000   2,000    47,362      10,242

Net loss for the year
 ended December 31,
 2000                      -        -         -       -         -     (5,315)
                     _______ ________ _________ _______ _________ ___________
BALANCE, December 31,
 2000                      -        - 2,000,000   2,000    47,362       4,927

Net loss for the year
 ended December 31,
 2001                      -        -         -       -         -    (20,816)
                     _______ ________ _________ _______ _________ ___________
BALANCE, December 31,
 2001                      -        - 2,000,000   2,000    47,362    (15,889)

Net loss for the year
 ended December 31,
 2002                      -        -         -       -         -    (43,629)
                     _______ ________ _________ _______ _________ ___________
BALANCE, December 31,
 2002                      -        - 2,000,000   2,000    47,362    (59,518)



                                [Continued]

                                     - 4 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)

              FROM THE DATE OF INCEPTION ON SEPTEMBER 9, 1997

                         THROUGH DECEMBER 31, 2005

                                [Continued]


                                                                    Deficit
                                                                  Accumulated
                     Preferred Stock     Common Stock  Capital in During the
                     ________________ _________________ Excess of Development
                      Shares  Amount    Shares  Amount  Par Value    Stage
                     _______ ________ _________ _______ _________ ___________
Net loss for the year
 ended December 31,
 2003                      -        -         -       -         -     (8,304)
                     _______ ________ _________ _______ _________ ___________
BALANCE, December 31,
 2003                      -        - 2,000,000   2,000    47,362    (67,822)

Debt forgiven by
 shareholders as a
 contribution to
 capital                   -        -         -       -    26,673           -

Net loss for the year
 ended December 31,
 2004                      -        -         -       -         -     (8,630)
                     _______ ________ _________ _______ _________ ___________
BALANCE, December 31,
 2004                      -        - 2,000,000   2,000    74,035    (76,452)

Debt forgiven by
 shareholders as a
 contribution to
 capital                   -        -         -       -     6,937           -

Net loss for the year
 ended December 31,
 2005                      -        -         -       -         -     (7,565)
                     _______ ________ _________ _______ _________ ___________

BALANCE, December 31,
 2005                      - $      - 2,000,000 $ 2,000 $  80,972 $  (84,017)
                     _______ ________ _________ _______ _________ ___________




















The accompanying notes are an integral part of these financial statements.

                                     - 5 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                         STATEMENTS OF CASH FLOWS


                                             For the          From Inception
                                            Year Ended        on September 9,
                                           December 31,       1997, Through
                                      ______________________   December 31,
                                         2005        2004          2005
                                      __________  __________  ______________
Cash Flows From Operating Activities:
  Net loss                            $   (7,565) $   (8,630) $      (84,017)
  Adjustments to reconcile net loss
    to net cash used by operating
    activities:
     Amortization expense                      -           -             250
     Effect of change in accounting
       principle                               -           -             750
     Change in assets and liabilities:
      Increase in accrued interest
        - related party                      330       1,650           6,708
      Increase in accounts payable          (775)      1,035           1,045
                                      __________  __________  ______________
        Net Cash Provided (Used) by
          Operating Activities            (8,010)     (5,945)        (75,264)
                                      __________  __________  ______________
Cash Flows From Investing Activities:
  Payment of organization costs                -           -          (1,000)
                                      __________  __________  ______________
        Net Cash (Used) by
          Investing Activities                 -           -          (1,000)
                                      __________  __________  ______________
Cash Flows From Financing Activities:
  Proceeds from advances from
    shareholders                           6,607       3,845          26,902
  Proceeds from common stock issuance          -           -          55,050
  Stock offering costs                         -           -          (5,688)
  Proceeds from short-term loan and
    advance                                    -           -          27,350
  Payments on short-term loan and
    advance                                    -           -         (27,350)
                                      __________  __________  ______________
        Net Cash Provided by
          Financing Activities             6,607       3,845          76,264
                                      __________  __________  ______________
Net Increase (Decrease) in Cash           (1,403)     (2,100)              -

Cash at Beginning of Period                1,403       3,503               -
                                      __________  __________  ______________
Cash at End of Period                 $        -  $    1,403  $            -
                                      __________  __________  ______________

Supplemental Disclosures of Cash Flow Information:
  Cash paid during the periods for:
    Interest                          $        -  $        -  $          994
    Income taxes                      $        -  $        -  $        1,905

Supplemental Schedule of Noncash Investing and Financing Activities:
  For the year ended December 31, 2005:
      Shareholders forgave debts totaling $6,937.  Due to the related  party
      nature of the debt, the Company recorded the forgiveness as a
      contribution to Capital.

  For the year ended December 31, 2004:
     Shareholders and an entity related to a shareholder forgave debts
     totaling $26,673.  Due to the related party nature of the debt, the
     Company recorded the forgiveness as a contribution to Capital.



  The accompanying notes are an integral part of these financial statements.

                                     - 6 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                       NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  Organization  -  First  Growth  Investors,  Inc.  ("the  Company")   was
  organized  under the laws of the State of Nevada on September  9,  1997.
  The   Company  previously  bought  and  sold  investments  in  wine  and
  champagne.  The Company is currently seeking a possible merger  with  or
  acquisition   of  another  company.   The  Company  has  not   generated
  significant  revenues and is considered a development stage  company  as
  defined  in  Statement  of Financial Accounting Standards  No.  7.   The
  Company  has,  at  the  present time, not paid  any  dividends  and  any
  dividends  that may be paid in the future will depend upon the financial
  requirements of the Company and other relevant factors.

  Cash  and  Cash  Equivalents - The Company considers all  highly  liquid
  debt  investments purchased with a maturity of three months or  less  to
  be cash equivalents.

  Inventory  -  Inventory is carried at the lower of cost or market  using
  the first-in, first-out (FIFO) method.

  Revenue  Recognition - The Company recognizes revenue  from  sales  upon
  delivery of the product.

  Income Taxes - The Company accounts for income taxes in accordance  with
  Statement  of  Financial Accounting Standards No. 109,  "Accounting  for
  Income  Taxes."  This statement requires an asset and liability approach
  for accounting for income taxes [See Note 4].

  Loss  Per Share - The Company computes loss per share in accordance with
  Statement  of  Financial  Accounting Standards No.  128,  "Earnings  Per
  Share,"  which  requires the Company to present basic and dilutive  loss
  per share when the effect is dilutive [See Note 7].

  Accounting  Estimates  -  The  preparation of  financial  statements  in
  conformity  with generally accepted accounting principles in the  United
  States  of America requires management to make estimates and assumptions
  that  affect  the  reported  amounts  of  assets  and  liabilities,  the
  disclosures  of  contingent assets and liabilities at the  date  of  the
  financial statements, and the reported amounts of revenues and  expenses
  during  the  reporting period.  Actual results could differ  from  those
  estimated by management.

                                     - 7 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                       NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]

  Recently   Enacted  Accounting  Standards  -  Statement   of   Financial
  Accounting  Standards ("SFAS") No. 151, "Inventory Costs - an  amendment
  of  ARB  No.  43, Chapter 4", SFAS No. 152, "Accounting for Real  Estate
  Time-Sharing Transactions - an amendment of FASB Statements No.  66  and
  67",  SFAS  No. 153, "Exchanges of Nonmonetary Assets - an amendment  of
  APB   Opinion  No.  29",  SFAS  No.  123  (revised  2004),  "Share-Based
  Payment",  SFAS No. 154, "Accounting Changes and Error Corrections  -  a
  replacement  of APB Opinion No. 20 and FASB Statement No. 3",  SFAS  No.
  155,   "Accounting  for  Certain  Hybrid  Financial  Instruments  -   an
  amendment  of  FASB  Statements No. 133 and  140",  and  SFAS  No.  156,
  "Accounting  for  the  Servicing  of Financial  Assets,"  were  recently
  issued.   SFAS No. 151, 152, 153, 123 (revised 2004), 154, 155  and  156
  have  no  current applicability to the Company or their  effect  on  the
  financial statements would not have been significant.

  Reclassification  -  The  financial  statements  for  periods  prior  to
  December 31, 2005 have been reclassified to conform to the headings  and
  classifications used in the December 31, 2005 financial statements.

NOTE 2 - DISCONTINUED OPERATIONS

  On  December  31,  2003, the Company discontinued  its  wine  investment
  business.   The  Company has accounted for this disposal  in  accordance
  with  Statement  of Financial Accounting Standards No. 144,  "Accounting
  for  the Impairment or Disposal of Long-Lived Assets".  At December  31,
  2005,  the  Company  had no assets or liabilities  associated  with  its
  discontinued wine investment business.

  The  following  is  a  summary  of the  results  of  operations  of  the
  Company's discontinued wine investment business:

                                                           From Inception
                                     For the Year Ended    on September 9,
                                        December 31,       1997, Through
                                   ______________________   December 31,
                                      2005        2004          2005
                                   __________  __________  ______________
         Revenue                   $        -  $        -  $       99,820
         Cost of goods sold                 -           -        (118,168)
         General and administrative         -           -         (35,253)
         Other income                       -           -           1,000
         Income Taxes                       -           -          (1,905)
                                   __________  __________  ______________
         Net loss                  $        -  $        -  $      (54,506)
                                   __________  __________  ______________

NOTE 3 - CAPITAL STOCK

  Preferred  Stock  -  The  Company  has authorized  1,000,000  shares  of
  preferred  stock,  $.001  par value, with such rights,  preferences  and
  designations and to be issued in such series as determined by the  Board
  of  Directors.   No shares are issued and outstanding  at  December  31,
  2005.

                                     - 8 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                       NOTES TO FINANCIAL STATEMENTS

NOTE 3 - CAPITAL STOCK [Continued]

  Common  Stock  - In September 1997, in connection with its organization,
  the  Company  issued 1,750,000 shares of its previously  authorized  but
  unissued  common stock.  Total proceeds from the sale of stock  amounted
  to $5,050 (or approximately $.0029 per share).

  In  November  1997, the Company issued 250,000 shares of its  previously
  authorized, but unissued common stock.  Total proceeds from the sale  of
  stock amounted to $50,000 (or $.20 per share).  Stock offering costs  of
  $5,688  were  netted against the proceeds as a reduction to  capital  in
  excess of par value.

  Common  Stock  Warrants - In 1999, the Company declared  a  dividend  of
  1,000,000  warrants  to  purchase common stock at  $1.00  per  share  to
  shareholders  of  record  as  of  September  30,  1999.   All  1,000,000
  warrants expired on June 30, 2002.

NOTE 4 - INCOME TAXES

  The  Company  accounts for income taxes in accordance with Statement  of
  Financial  Accounting Standards No. 109, "Accounting for Income  Taxes".
  SFAS  No.  109  requires  the  Company to provide  a  net  deferred  tax
  asset/liability  equal  to the expected future  tax  benefit/expense  of
  temporary reporting differences between book and tax accounting  methods
  and  any  available  operating loss or tax  credit  carryforwards.   The
  Company   has  available  at  December  31,  2005,  an  operating   loss
  carryforward  of  approximately $93,000, which may  be  applied  against
  future taxable income and which expires in various years through 2025.

  The  amount  of  and  ultimate realization  of  the  benefits  from  the
  operating  loss carryforwards for income tax purposes is  dependent,  in
  part,  upon the tax laws in effect, the future earnings of the  Company,
  and  other  future  events, the effects of which cannot  be  determined.
  Because  of  the  uncertainty surrounding the realization  of  the  loss
  carryforwards,  the Company has established a valuation allowance  equal
  to  the tax effect of the loss carryforwards and, therefore, no deferred
  tax  asset  has  been  recognized for the loss carryforwards.   The  net
  deferred  tax asset is approximately $32,000 and $29,000 as of  December
  31,  2005 and 2004, respectively, with an offsetting valuation allowance
  of  the same amount.  The change in the valuation allowance for the year
  ended December 31, 2005 is approximately $3,000.

                                     - 9 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                       NOTES TO FINANCIAL STATEMENTS

NOTE 5 - GOING CONCERN

  The  accompanying financial statements have been prepared in  conformity
  with  generally accepted accounting principles in the United  States  of
  America,  which  contemplate continuation of  the  Company  as  a  going
  concern.   However, the Company has incurred losses since inception  and
  has   no   on-going  operations.   Further,  the  Company  has   current
  liabilities   in  excess  of  current  assets.   These   factors   raise
  substantial  doubt about the ability of the Company  to  continue  as  a
  going  concern.  In this regard, management is proposing  to  raise  any
  necessary additional funds not provided by operations through  loans  or
  through  additional sales of its common stock.  There  is  no  assurance
  that  the Company will be successful in raising this additional  capital
  or  in achieving profitable operations.  The financial statements do not
  include  any  adjustments that might result from the  outcome  of  these
  uncertainties.

NOTE 6 - RELATED PARTY TRANSACTIONS

  Management  Compensation - The Company has not paid any compensation  to
  its  officers  and directors, as the services provided by them  to  date
  have only been nominal.

  Office Space - The Company has not had a need to rent office space.   An
  officer/shareholder of the Company is allowing the Company  to  use  her
  office as a mailing address, as needed, at no expense to the Company.

  Advances  from  Related Party - At December 31, 2005  and  December  31,
  2004,  a  shareholder of the Company had loaned a total  of  $6,607  and
  $16,450  respectively, to the Company.  The advances are due  on  demand
  and  bear  interest  at  10%  per annum.  Accrued  interest  expense  at
  December  31,  2005 and 2004 amounted to $330 and $6,378,  respectively.
  At  December 31, 2005 and 2004 the shareholder forgave all the  advances
  and  accrued interest.  Due to the related party nature of the debt  the
  Company recoded the forgiveness as a contribution to capital.

  During  the  year  ended  December 31,  2004  an  entity  related  to  a
  shareholder had advanced a total of $3,845 to the Company.  At  December
  31,  2004,  the  advances have been forgiven.  Due to the related  party
  nature  of  the  debt, the Company recorded the forgiveness  as  capital
  contribution.

  Agreement  and  Sale  of  Investment  -  The  Company  entered  into  an
  agreement  with  a  shareholder of the Company  that  provided  for  the
  shareholder to negotiate the liquidation of the Company's investment  in
  champagne.   In 2002, the Company sold its investment to a  third  party
  through   the  efforts  of  the  shareholder.   The  Company  sold   its
  investment,  which had carrying value of $47,900, for $11,882  resulting
  in a loss of $36,018.

                                    - 10 -


<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                       NOTES TO FINANCIAL STATEMENTS

NOTE 7 - LOSS PER SHARE

  The  following  data show the amounts used in computing loss  per  share
  for the periods presented:

                                                        For the
                                                       Year Ended
                                                      December 31,
                                                 ______________________
                                                    2005        2004
                                                 __________  __________
  Income (loss) from continuing operations
   (numerator)                                   $   (7,565) $   (8,630)
  Income (loss) from discontinued operations
   (numerator)                                            -           -
  Income (loss) from cumulative effect of
   change in accounting principle                         -           -
                                                 __________  __________
  Income (loss) available to common shareholders
   (numerator)                                   $   (7,565) $   (8,630)
                                                 __________  __________
  Weighted average number of common shares
   outstanding used in loss per share for the
   period (denominator)                           2,000,000   2,000,000
                                                 __________  __________

  Dilutive loss per share was not presented, as the Company had no  common
  equivalent  shares  for  all periods presented  that  would  affect  the
  computation of diluted loss per share.

NOTE 8 - CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE

  In  1997,  the  Company paid $1,000 in organization costs which  reflect
  amounts  expended to organize the Company.  The Company  was  previously
  amortizing  the costs, but during 1999, in accordance with Statement  of
  Position  98-5, the Company expensed the remaining $750 in  organization
  costs which has been accounted for as a change in accounting principle.

NOTE 9 - SUBSEQUENT EVENTS

  The  Company  is  currently negotiating the potential acquisition  of  a
  private  company.  The potential acquisition will be subject to  certain
  conditions  precedent and no assurance can be given that  the  potential
  acquisition   will  be  complete.   If  the  potential  acquisition   is
  completed  it  will  involve  a  change in  management  and  shareholder
  control of the Company.

                                    - 11 -

<PAGE>

                            SIGNATURES

In accordance with Section 12 of the Securities Exchange Act of 1934, the
registrant caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized.


First Growth Investors, Inc.



By:     /s/ Pam Jowett                         Date:   March 31, 2006
     Pam Jowett, President and Secretary/Treasurer
     Chief Executive Officer and
     Chief Financial Officer


In accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and the
dates indicated.



By:      /s/ Pam Jowett                        Date:    March 31, 2006
     Pam Jowett, President and Secretary/Treasurer
     Chief Executive Officer and
     Chief Financial Officer



<PAGE>

Supplemental Information to be Furnished With Reports Filed Pursuant to
Section 15(d) of the Exchange Act by Non Reporting Issuers

No annual report or proxy statement has been sent to security holders.