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, 2001    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)                            Yes   X      No
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)                  [   ]

The Issuer's revenues for its most recent fiscal year.     $   -0-

As of February 1, 2002, the aggregate market value of voting stock held by
non-affiliates was approximately $125,000.

The number of shares outstanding of the Issuer's common stock at December 31,
2001: 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 are exercisable at $1.00 per share, on or before June 30, 2002. No
warrants have yet been exercised. There is no assurance any warrants will be
exercised.

     (B)  BUSINESS OF COMPANY.

     First Growth Investors was formed to take advantage of what management
believes is a money making opportunity that can be realized through buying,
selling and investing in select vintages of wines.  The philosophy is simple;
buy California's and France's premier red wines when they are first released
and hold them for investment, appreciation and later resale, then sell the
wines after a 12 to 24 month period.  It is anticipated, but not assured, that
the appreciation of the wines will be greatest within this period.  The
Company will then take any proceeds from investment, roll it over, and
reinvest in the next release of the wines.

     First Growth Investors purchases the actual wines directly from
suppliers rather than purchasing futures contracts, and will not be purchasing
futures contracts. Management is aware of companies that supply wines for
various purposes including investment, from which First Growth Investors
acquires the wines it holds for investment.  These companies conduct research
regarding the world's top wines and will provide educated recommendations to
management about the specific wines that can be purchased for investment and
are likely to appreciate in value over time.  These companies buy and sell
wines held for investment from collectors and charge a

<PAGE>

commission of 10% to
15% for the services.  They also typically provide for a fee suitable
temperature controlled storage facilities in which to keep the wines while
they age.

     To date, First Growth Investors has purchased and sold all its wine
investments through Nevada Wine Company, using the brokerage and other
services provided by that company. Nevada Wine Company is not affiliated with
First Growth Investors or its principals. Nevada Wine Company is a Las Vegas
based company that supplies wine for many large and small businesses and also
sells many of the world's finest wines to collectors or to others who just
want a good bottle of wine to drink.  These wines range from good inexpensive
wine to wines worth hundreds of dollars.

     In November, 1997, First Growth Investors used the proceeds of its
recently completed offering to purchase several vintages of investment grade
wines.  These were all sold during the first quarter of 1999.  In July and
August of 1999,  First Growth Investors reinvested the amounts received from
the initial sales in other vintages of investment grade wines, which it is
still holding.

     The following table shows the wine investments First Growth Investors
has purchased and sold so far.

Qty  Description                    Price         Sale Price     Profit

198  1994 Opus One                  17,014.14      25,740.00     8,725.86
 60  1994 Caymus Special Select      6,330.00       9,540.00     3,210.00
 48  1994 Joseph Phelps Insignia     3,036.00       4,320.00     1,284.00
  1  1994 Dalle Valle Maya             287.50         400.00       112.50
 84  1994 Caymus Special Select      9,240.00      13,356.00     4,116.00
  3  1993 Beringer Reserve 3.0 1     1,035.00       1,200.00       165.00
 10       Turley Zinfandel & Petite    920.00       1,350.00       430.00
 24  1994 Silverado Cabernet         1,440.00       1,728.00       288.00
126  1994 Robert Mondavi Res. Ca     7,560.00      10,080.00     2,520.00
 36  1994 Opus One                   3,105.00       4,680.00     1,575.00
 24  1994 Hartwell                   3,120.00       3,744.00       624.00
276  1990 Dom Perignon              35,880.00        Holding
174  1990 Dom Perignon              22,620.00        Holding

     Wine investing, or using wines as an investment vehicle, is based on the
principle of aging. Some wines are believed by professional connoisseurs to
benefit from the aging process.  As a result, these wines have the potential
to become more valuable with the passage of time.  Most investment grade wines
are red wines, because white wines generally do not benefit from aging.  Aging
allows a fine red wine, on the other hand, to develop distinctive traits which
are highly valued by connoisseurs.  As a result of this aging process, the
vintages of wines that are sought after as investment grade wines may increase
several times in value as they are aged over a period of years, especially if
the wines achieve a "First Growth" or top ranked classification as they are
aged.

<PAGE>

     There is absolutely no assurance that First Growth Investors will be
successful in this venture.  Management has no prior experience in this
business or industry and will have to rely on the advice of others.  However,
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. Management believes that any additional funds that may be received
from exercise of warrants can similarly be used to increase the amounts of
purchases or investments First Growth Investors can make.

ITEM 2.   PROPERTIES

     First Growth Investors has no office facilities and does not presently
anticipate the need to lease commercial office space or facilities, but for
the time being uses the address of the President as the business address.  The
Company may lease commercial office facilities at such time in the future as
operations have developed to the point where the facilities are needed, but
has no commitments or arrangements for any facilities, and 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.  In connection with the purchase of an inventory of wines to hold
for investment and resale, First Growth Investors has leased from third
parties or otherwise paid for the use of temperature controlled or otherwise
suitable storage facilities for the wines.

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

<PAGE>

available. Such quotations reflect inter-dealer prices,
without retail mark-up, mark-down or commission and may not represent actual
transactions.

     Quarter Ended                 High                     Low
     March 31, 2000                $ .50                    $ .50
     June 30, 2000                 $ .50                    $ .50
     September 30, 2000            $ .50                    $ .50
     December 31, 2000             $ .50                    $ .50

     March 31, 2001                $ .50                    $ .50
     June 30, 2001                 $ .50                    $ .50
     September 30, 2001            $ .50                    $ .50
     December 31, 2001             $ .50                    $ .50

     (B)  HOLDERS.

     As of February 1, 2002, there were about 41 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.

     Management's plan of operation for the next twelve months is to continue
using existing capital and any funds from exercise of warrants in this
offering to acquire another inventory of select wines to hold for investment
and resale, and also to provide general working capital during the next twelve
months.  Under this plan of operations First Growth Investors has no specific
capital commitments and the timing of capital expenditures will depend upon
the receipt of additional funds from warrant exercise or elsewhere, none of
which is assured.  Cash flows will also depend upon the timing of sale of the
wines, which is also not assured, and receipt of the proceeds from these
sales. We have not determined how long existing capital can satisfy any cash
requirements, but we do not presently anticipate that we will have to raise
additional funds within the next twelve months.  While we do not anticipate
any need to raise additional capital, we

<PAGE>

believe First Growth Investors will
have the opportunity to invest whatever additional funds may be received from
the exercise of warrants in purchasing additional vintages of investment grade
wines. We do not anticipate any capital commitments for product research and
development or significant purchases of plant or equipment, or any change in
the number of employees.

     Initially, we purchased eleven different vintages of investment grade
wines at a cost of $54,588. During the first quarter of 1999, we sold these
wines for $76,138.  We made these purchases, and all purchases to date, from
non affiliated third parties.  We did not purchase any of the inventory from,
or sell any of the inventory to, persons affiliated with First Growth
Investors.

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.

                               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       49      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 has no prior experience in the
business of buying, selling and investing in wines, and will have to rely on
the advice of other persons on the purchase of suitable wines.

<PAGE>

     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. 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.

COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT  The Issuer is not subject
to Section 16(a).

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.

<PAGE>

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.  See "Certain
Transactions."

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.

     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.

<PAGE>

                               PART IV

ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K.

     (A)  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.

     (B)  REPORTS ON FORM 8-K have not been filed during the last quarter of
the fiscal year ended December 31, 2001.

<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:   February 20, 2002
     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:    February 20, 2002
     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.


<PAGE>















                    FIRST GROWTH INVESTORS, INC.
                   (A Development Stage Company)

                        FINANCIAL STATEMENTS

           FOR THE YEARS ENDED DECEMBER 31, 2001 AND 2000

                                WITH

                    INDEPENDENT AUDITOR'S REPORT




<PAGE>
                    FIRST GROWTH INVESTORS, INC.
                   (A Development Stage Company)


                              CONTENTS


                                                            PAGE


  Independent Auditor's Report                                     1

  Balance Sheets                                                   2

  Statements of Operations                                         3

  Statement of Stockholders' Equity                                4

  Statements of Cash Flows                                         5

  Notes to Financial Statements                                  6-7






  <PAGE>






  Independent Auditor's Report

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

  I have audited the accompanying balance sheets of First Growth
  Investors, Inc. (A development stage company) as of December 31, 2001
  and 2000 and the related statements of operations, stockholders' equity
  and cash flows for the years then ended and from inception (September 9,
  1997) to December 31, 2001. These financial statements are the
  responsibility of the Company's management. My responsibility is to
  express an opinion on the financial statements based on my audits.

  I conducted my audits in accordance with auditing standards generally
  accepted in the United States of America. Those standards require that I
  plan and perform the audit to obtain reasonable assurance about whether
  the financial statements are free of material misstatement. An audit
  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. I believe that my audits provide a reasonable basis for my
  opinion.

  In my opinion, the financial statements referred to above present
  fairly, in all material respects, the financial position of First Growth
  Investors, Inc. (A development stage company) as of December 31, 2001
  and 2000, and the results of its operations and its cash flows for the
  years then ended and from Inception (September 9, 1997) to December 31,
  2001 in conformity with accounting principles generally accepted in the
  United States of America.


                                       /s/ David T. Thomson P.C.



  Salt Lake City, Utah
  January 21, 2002


<PAGE>

                     FIRST GROWTH INVESTORS, INC.
                    (A Development Stage Company)

                            BALANCE SHEETS

                                ASSETS


                                              December 31,        December 31,
                                                  2001                2000
                                              ________________________________

CURRENT ASSETS:
     Cash in bank                                  $  166              $  266
     Inventory                                     47,000              47,000
                                                _____________________________

               Total Current Assets                47,166              47,266
                                                _____________________________

OTHER ASSETS:
     Deferred costs - warrants registration             0              14,476
                                                _____________________________

               Total Other Assets                       0              14,476
                                                _____________________________

TOTAL ASSETS                                    $  47,166           $  61,742
                                                =============================

                 LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable                           $       0      $        1,500
     Accrued interest payable                        1,493                453
     Stockholder advances payable                   12,200              5,500
                                                _____________________________

               Total Current Liabilities            13,693              7,453
                                                _____________________________

STOCKHOLDERS' EQUITY:
     Preferred stock; $.001 par value,
         1,000,000 shares authorized,
          no shares issued and outstanding               0                  0
     Common Stock; $.001 par value,
         24,000,000 shares authorized
          2,000,000 shares issued and outstanding    2,000              2,000
     Capital in excess of par value                 47,362             47,362
     Earnings (deficit) accumulated during the
          development stage                        (15,889)             4,927
                                                _____________________________

               Total Stockholders' Equity           33,473             54,289
                                                _____________________________

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY      $   47,166     $       61,742
                                                =============================

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        For The        Cumulative
                                   Year Ended     Year Ended     During The
                                   December 31,   December 31,   Development
                                      2001           2000           Stage
                                   __________________________________________


REVENUE:
     Sales                             $   0           $   0        $  87,938
     Costs of goods sold                   0               0          (70,268)
                                   __________________________________________

          Gross profit                     0               0           17,670
                                   __________________________________________

EXPENSES:
     Professional fees                 5,165            4,707          12,565
     Fees and licenses                   135              215           1,936
     Warrant registration costs       14,476                0          14,476
     Amortization expense                  0                0             250
                                   __________________________________________

                                      19,776            4,922          29,227
                                   __________________________________________

INCOME (LOSS) FROM OPERATIONS        (19,776)          (4,922)        (11,557)

OTHER INCOME (EXPENSE)
     Other income                          0                0           1,000
     Interest expense                 (1,040)            (393)         (2,677)
                                   __________________________________________

NET INCOME BEFORE INCOME TAXES       (20,816)          (5,315)        (13,234)
     Provision for income taxes            0                0          (1,905)
                                   __________________________________________

NET INCOME (LOSS) BEFORE CUMULATIVE
EFFECT OF ACCOUNTING CHANGE          (20,816)          (5,315)        (15,139)
     Cumulative effect of accounting
     change for organization costs         0                0            (750)
                                   __________________________________________

NET INCOME (LOSS)                  $ (20,816)    $     (5,315)     $  (15,889)

EARNINGS (LOSS) PER SHARE
     Before cumulative effect of
           accounting change       $       0     $          0      $        0

     Cumulative effect of
             accounting change             0                0            0.00

     Net income (loss)             $       0     $          0      $        0
                                   ==========================================

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
                                                                  Accumulated
                                        Common Stock  Capital in  During the
                                                      Excess of   Development
                                        Shares Amount Par Value      Stage
                                     ________________________________________

BALANCE, September 9, 1997 (inception)       0   $  0      $  0         $  0

Shares issued to initial
  stockholders for cash,
  September 18, 1997 at
  approximately $.0029 per share     1,750,000  1,750     3,300            0

Shares issued upon completion
  of offering of stock
  to the public at $.20 per
  share, November 1997                 250,000    250    49,750            0

Direct costs of the offering
  of common stock to the public              0      0    (5,688)           0

Net income (loss) from
  September 9, 1997 (inception)
  to December 31, 1997                       0      0         0       (2,350)
                                     ________________________________________

BALANCE, December 31, 1997           2,000,000  2,000    47,362       (2,350)

Net income (loss) for the
  year ended December 31, 1998               0      0         0       (1,440)
                                     ________________________________________

BALANCE, December 31, 1998           2,000,000  2,000    47,362       (3,790)

Net income (loss) for the
  year ended December 31, 1999               0      0         0       14,032
                                     ________________________________________

BALANCE, December 31, 1999           2,000,000  2,000    47,362       10,242

Net income (loss) for the
  year ended December 31, 2000               0      0         0       (5,315)
                                     ________________________________________

BALANCE, December 31, 2000           2,000,000  2,000    47,362        4,927

Net income (loss) for the
  year ended December 31, 2001               0      0         0      (20,816)
                                     ________________________________________

BALANCE, December 31, 2001           2,000,000 $2,000   $47,362     $(15,889)
                                     ========================================

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

                                 4

<PAGE>

                     FIRST GROWTH INVESTORS, INC.
                    (A Development Stage Company)

                      STATEMENTS OF CASH  FLOWS


                                        For The      For The      Cumulative
                                        Year Ended   Year Ended   During The
                                        December 31, December 31, Development
                                            2001         2000       Stage
                                        _____________________________________

CASH FLOWS FROM OPERATING ACTIVITIES:
     Sales                                  $  0         $  0      $  87,938
     Organization costs                        0            0         (1,000)
     Cash paid for inventory and
         related costs                         0            0       (115,698)
     Cash paid to suppliers and others   (21,276)      (4,922)       (29,487)
     Cash paid for taxes                       0       (1,905)        (1,905)
     Cash paid for interest                    0          (10)          (994)
                                        _____________________________________
          Cash Flows (Used) by
          Operating Activities           (21,276)      (6,837)       (61,146)
                                        _____________________________________

CASH FLOW FROM INVESTING ACTIVITIES:           0            0              0
                                        _____________________________________

CASH FLOWS FROM FINANCING ACTIVITIES:
     Stockholder loan                      6,700        2,500         12,200
     Sale of common stock                      0            0         55,050
     Direct costs of common stock sale         0            0         (5,688)
     Direct costs of warrants registration     0            0        (14,476)
     Expense direct cost of
          warrant registration            14,476            0         14,476
     Proceeds from short term
          advance and loan                     0            0         27,100
     Loan and advance payments                 0       (6,100)       (27,350)
                                        _____________________________________
          Cash Flows Provided (Used)
          by Financing Activities         21,176       (3,600)        61,312
                                        _____________________________________

NET INCREASE (DECREASE) IN CASH             (100)     (10,437)           166

CASH - BEGINNING OF PERIOD                   266       10,703              0
                                        _____________________________________

CASH - END OF PERIOD                    $    166    $     266     $      166
                                        _____________________________________

RECONCILIATION OF NET INCOME (LOSS) TO NET CASH
   PROVIDED (USED) BY OPERATING ACTIVITIES

NET INCOME (LOSS)                       $(20,816)   $  (5,315)    $  (15,889)
                                        _____________________________________

Adjustment to reconcile net income(loss)
  to net cash provided(used) by
  operating activities
    Amortization of organization costs         0            0            250
    Cumulative change in accounting principle  0            0            750
    Changes in assets and liabilities
      (Increase) decrease in inventory         0            0        (45,500)
      (Increase) in organization costs         0            0         (1,000)
      (Decrease) in accounts payable      (1,500)           0         (1,500)
      Increase(decrease) in accrued
          interest                         1,040          383          1,493
      Increase(decrease) in income tax
          payable                              0       (1,905)             0
      Increase in note payable                 0            0            250
                                        _____________________________________

          Total Adjustments                 (460)      (1,522)       (45,257)
                                        _____________________________________

NET CASH PROVIDED (USED)
     BY OPERATING ACTIVITIES            $(21,276)   $  (6,837)    $  (61,146)
                                        =====================================



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

                                 5

<PAGE>



                    FIRST GROWTH INVESTORS, INC.
                   (A Development Stage Company)

                   NOTES TO FINANCIAL STATEMENTS

  NOTE   1  -  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

       Organization  -  The Company was organized under the laws of the
       State of Nevada on September 9, 1997 and has elected a fiscal year
       end of December 31st. The Company was formed for the purpose of
       engaging in any lawful business practice. The Company has acquired
       an inventory of select wines to hold for investment and resale.
       The Company is considered a development stage company as defined
       in SFAS 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.

       Net Earnings Per Share  -  The computation of net income (loss)
       per share of common stock is based on the weighted average number
       of shares outstanding during the period presented.

       Organization Costs  -  The Company was amortizing its organization
       costs, which reflect amounts expended to organize the Company,
       over sixty (60) months using the straight-line method.  In 1998,
       the Accounting Standards Executive Committee (AcSEC) of the
       American Institute of Certified Public Accountants issued
       Statement of Position (SOP) 98-5, "Reporting on the Costs of
       Start-up Activities."  The SOP requires costs of start-up
       activities and organization cost to be expensed as incurred.
       During 1999, the Company adopted the SOP and recognized a charge
       for the cumulative effect of accounting change of $750.

       Income Taxes  -  Income tax expenses includes federal and state
       taxes currently payable and deferred taxes arising from temporary
       differences between income for financial reporting and income tax
       purposes.

       Cash and Cash Equivalents  -  For purposes of the statement of
       cash flows, the Company considers all highly liquid debt
       instruments purchased with a maturity of three months or less to
       be cash equivalents. During the years ended December 31, 2001 and
       2000, the Company did not have non-cash financing activities.
       There were no non-cash investing activities for the year ended
       December 31, 2001. However during the year ended December 31,
       2000, under investing activities, inventory costs were paid for on
       account and increased accounts payable.

       Use of Estimates  -  The preparation of financial statements in
       conformity with generally accepted accounting principles requires
       management to make estimates and assumptions that affect the
       reported amounts of assets and liabilities and disclosure 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 estimates.

       Inventory   -   Inventory consists of finished product purchased
       for resale and is stated at the lower of cost determined by the
       FIFO Method or Market.

  NOTE   2  -  COMMON STOCK TRANSACTIONS

       The Company on September 18, 1997 sold 1,750,000 shares of common
       stock to initial stockholders at approximately  $.0029 per share
       for $5,050.

       During November 1997, the Company completed an offering of its
       common stock wherein it sold shares of the Company's common stock
       to the public at $.20 per share for a total of $50,000. Direct
       costs of the offering were $5,688.

                                 6


<PAGE>

                    FIRST GROWTH INVESTORS, INC.
                   (A Development Stage Company)

                   NOTES TO FINANCIAL STATEMENTS


  NOTE   2  -  COMMON STOCK TRANSACTIONS - CONTINUED

       The Company completed a registration of common stock warrants
       during 1999.  The cost of registering the warrants was $ 14,476.
       During the year ended December 31, 2001 these costs were expensed.
       Prior to this year the above was shown on the balance sheet as a
       deferred cost.  At December 31, 2000, the Company had outstanding
       warrants to purchase 1,000,000 shares of the Company's common
       stock, at $1.00 per share.  The warrants are exercisable prior to
       June 30, 2002.  At December 31, 2000, none of the warrants had
       been exercised.

  NOTE    3  -  RELATED PARTY TRANSACTIONS

       An officer of the Company is providing a mailing address to the
       Company without charge. This service has been determined by the
       Company to have only nominal value. As of December 31, 2001 and
       2000 no compensation has been paid or accrued to any officers or
       directors of the Corporation.

  NOTE    4  -  INCOME TAXES

       The Company had no income taxes payable at December 31, 2001 and
       2000.  The Company has deferred tax assets at December 31, 2001
       and 2000 of $23 and $53 respectively.  At December 31, 2001, the
       Company had a net federal operating loss (NOL) of $26,531, which
       can be carried forward to offset operating income.  The Company's
       NOL will expire between 2021 and 2020. Valuation allowances of
       $4,003 and $880 have been established for deferred tax assets
       associated with the above NOL for 2001 and 2000, and for the
       amortizing of organization costs for tax purposes for the years
       ended December 31, 2001 and 2000 respectively.  The change in the
       valuation allowances for 2001 and 2000 was $3,123 and $797.

  NOTE    5  -  NOTE PAYABLE AND SHORT TERM ADVANCES

       During 1999, a business advanced $6,100 to the Company.  The
       advance was unsecured and non-interest bearing and was repaid in
       February of 2000.  Through December 31, 2001, a stockholder has
       advance $12,200 to the Company on an unsecured basis. The loan is
       due upon demand and carries interest at 10% per annum.  Subsequent
       to year end an additional $1,000 was advanced to the Company by
       the above stockholder.

















                                 7
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