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, 2003    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)                  [   ]

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

As of April 13, 2004, 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,
2003: 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.

     In November, 1997, First Growth Investors used the proceeds of its
recently completed offering to purchase several vintages of investment grade
Wines.  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. 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.  These were all
sold during the fiscal year ended December 31, 2002, at a loss. The Company
has no inventory remaining at this time, but the Company determined that it
could continue to look for investment opportunities in the area of investment
grade vintages of wines. Because this business eventually was not successful
and the inventory had been liquidated, operations were discontinued as of
December 31, 2003.

<PAGE>

     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 without regard to any specific
business or industry. However, the Company has not located any suitable
potential business acquisition and has no plans, commitments or arrangements
with respect to any potential business venture. There is no assurance the
Company could become involved with any business venture, especially any
business venture requiring significant capital.

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, 2002                $ .50                    $ .50
     June 30, 2002                 $ .50                    $ .50
     September 30, 2002            $ .50                    $ .50
     December 31, 2002             $ .25                    $ .25

     March 31, 2003                $ .25                    $ .25
     June 30, 2003                 $ .25                    $ .25
     September 30, 2003            $ .25                    $ .25
     December 31, 2003             $ .25                    $ .25

     (B)  HOLDERS.

     As of February 19, 2004, there were about 39 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 had no operations or revenue during the last fiscal year.
Due to this, the Company realized a net loss. The Company does not expect to
generate any meaningful revenue or incur operating expenses, except for
administrative, legal, professional, accounting and auditing costs associated
with the filing requirements of a public reporting company, unless and until
it acquires an interest in an operating company.  The Company does not have
sufficient cash to meet its operational needs for the next twelve months.
Management's plan of operation for the next twelve months is to attempt to
raise additional capital through loans from related parties, debt financing,
equity financing or a combination of financing options. Currently, there are
no understandings, commitments or agreements for such an infusion of capital
and no assurances to that effect. Unless the Company can obtain additional
financing, its ability to continue as a going concern during the next twelve-
month period is doubtful. The Company's need for capital may change
dramatically if and during that period, it acquires an interest in a business
opportunity.

<PAGE>

     The Company's current operating plan is to (i) handle the administrative
and reporting requirements of a public company, and (ii) search for potential
businesses, products, technologies and companies for acquisition without
regard to any specific business or industry. At present, the Company has no
understandings, commitments or agreements with respect to the acquisition of
any business venture, and there can be no assurance that the Company will
identify a business venture suitable for acquisition in the future. Further,
there can be no assurance that the Company would be successful in consummating
any acquisition on favorable terms or that it will be able to profitably
manage any business venture it acquires. Ultimately, however, the Company will
need to achieve profitable operations in order to continue as a going concern.

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 its 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").

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

<PAGE>

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

<PAGE>

     (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
it'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.

ITEM 10.  EXECUTIVE COMPENSATION.

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

COMPENSATION OF DIRECTORS     None

<PAGE>

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
(1 person)
</TABLE>

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

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 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.

     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

     (B)  REPORTS ON FORM 8-K. A Form 8-K was filed October 7, 2003 reporting
Changes in Registrant's Certifying Accountant during the quarter. Effective
September 22, 2003, David T. Thomson P.C. resigned as the registrant's
certifying accountant. Effective October 6, 2003, Pritchett, Siler, & Hardy,
P.C. was selected as the registrant's new certifying accountant for the year
ended December 31, 2003.


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 $3,100 for the fiscal year ended December 31, 2002 and $3,580
for the fiscal year ended December 31, 2003.

(2) AUDIT-RELATED FEES

<PAGE>

     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, 2002 and $-0- for
the fiscal year ended December 31, 2003.

(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 $300 for the fiscal year ended December 31,
2002 and $300 for the fiscal year ended December 31, 2003.

(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, 2002
and $-0- for the fiscal year ended December 31, 2003.

(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 the board of
directors acting as the audit committee.

<PAGE>











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

                           FINANCIAL STATEMENTS

                             DECEMBER 31, 2003






















<PAGE>


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




                                 CONTENTS

                                                          PAGE

        -  Independent Auditors' Report                      1


        -  Balance Sheet, December 31, 2003                  2


        -  Statements of Operations, for the years
            ended December 31, 2003 and 2002
            and from inception on September 9, 1997
            through December 31, 2003                        3

        -  Statement of Stockholders' Equity (Deficit),
            from inception on September 9, 1997 through
            December 31, 2003                              4 - 5

        -  Statements of Cash Flows, for the years
            ended December 31, 2003 and 2002
            and from inception on September 9, 1997
            through December 31, 2003                        6


        -  Notes to Financial Statements                   7 - 10








<PAGE>
                       INDEPENDENT AUDITORS' REPORT



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] at December 31, 2003, and the related
statements  of operations, stockholders' equity (deficit) and  cash  flows
for  the  years ended December 31, 2003 and 2002 and for the  period  from
inception on September 9, 1997 through December 31, 2003.  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  audit in accordance with generally  accepted  auditing
standards  in the United States of America.  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 audit provides a reasonable  basis  for
our opinion.

In  our opinion, the financial statements audited by us present fairly, in
all  material respects, the financial position of First Growth  Investors,
Inc.  as  of December 31, 2003, and the results of its operations and  its
cash  flows  for the years ended December 31, 2003 and 2002  and  for  the
period  from inception on September 9, 1997 through December 31, 2003,  in
conformity  with generally accepted accounting principles  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 its 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.
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.


February 2, 2004
Salt Lake City, Utah

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

                               BALANCE SHEET


                                  ASSETS


                                                      December 31,
                                                          2003
                                                      ___________
CURRENT ASSETS:
  Cash                                                 $    3,503
                                                      ___________
        Total Current Assets                                3,503
                                                      ___________
                                                       $    3,503
                                                      ___________


              LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


CURRENT LIABILITIES:
  Accounts payable                                     $      785
  Accrued interest-related
     party shareholder loans                                4,728
  Advances from shareholders                               16,450
                                                      ___________
        Total Current Liabilities                          21,963
                                                      ___________

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                           47,362
  Deficit accumulated during the
   development stage                                     (67,822)
                                                      ___________
        Total Stockholders' Equity (Deficit)             (18,460)
                                                      ___________
                                                      $    3,503
                                                      ___________







 The accompanying notes are an integral part of this financial statement.

                                    -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,
                                   2003       2002        2003
                                 __________  _________   _________
REVENUE                          $       -   $       -   $      -

EXPENSES:
  General and administrative         6,655           -      6,655
                                 __________  _________   _________
LOSS BEFORE OTHER INCOME
(EXPENSE)                           (6,655)          -     (6,655)

OTHER INCOME (EXPENSE):
  Interest Expense                  (1,649)     (1,585)    (5,911)
                                 __________  _________   _________
LOSS BEFORE INCOME TAXES            (8,304)     (1,585)   (12,566)

CURRENT TAX EXPENSE                      -           -          -

DEFERRED TAX EXPENSE                     -           -          -
                                 __________  _________   _________
LOSS FROM CONTINUING
OPERATIONS                          (8,304)     (1,585)   (12,566)
                                 __________  _________   _________
DISCONTINUED OPERATIONS:
  Loss from operations of
    discontinued wine
    investment business
    (net of $0, $0 and $1,905
    in income taxes)                     -    (42,044)    (54,506)
  Gain (loss) on disposal of
    discontinued operations
    (net of $0 in income taxes)          -          -           -
                                 __________  _________   _________
LOSS FROM DISCONTINUED
OPERATIONS                               -    (42,044)    (54,506)
                                 __________  _________   _________
CUMULATIVE EFFECT OF CHANGE
 IN ACCOUNTING PRINCIPLE                 -          -        (750)
                                 __________  _________   _________
NET LOSS                         $  (8,304)  $(43,629)   $(67,822)
                                 __________  _________   _________
LOSS PER COMMON SHARE:
  Continuing operations               (.00)      (.00)       (.01)
  Discontinued operations                -       (.02)       (.02)
  Gain (loss) on disposal of
     discontinued operations             -          -           -
  Cumulative effect of change in
     accounting principle                -          -        (.00)
                                 __________  _________   _________
  Net Loss Per Common Share      $    (.00)  $   (.02)   $   (.03)
                                 __________  _________   _________

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, 2003


                                                          Capital    Deficit
                                                             in    Accumulated
                    Preferred Stock      Common Stock      Excess    During
                    ________________  __________________     of        the
                                                            Par    Development
                     Shares  Amount     Shares    Amount   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, 2003

                                [Continued]



                                                          Capital    Deficit
                                                             in    Accumulated
                    Preferred Stock      Common Stock      Excess    During
                    ________________  __________________     of        the
                                                            Par    Development
                     Shares  Amount     Shares    Amount   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)
                    _______  _______  _________  _______  ________  __________


























 The accompanying notes are an integral part of this financial statement.

                                     -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,
                                        2003        2002         2003
                                     __________  __________   _________
Cash Flows From Operating Activities:
  Net loss                           $  (8,304)  $ (43,629)   $(67,822)
  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:
      Decrease in inventory                  -      47,000           -
      Increase in accrued
       interest - related party          1,649       1,586       4,728
      Increase in accounts payable         785           -         785
                                     __________  __________   _________
        Net Cash Provided (Used)
         by Operating Activities        (5,870)      4,957     (61,309)
                                     __________  __________   _________
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                         -       4,250      16,450
  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                -       4,250      65,812
                                     __________  __________   _________
Net Increase (Decrease) in Cash         (5,870)      9,207       3,503

Cash at Beginning of Period              9,373         166           -
                                     __________  __________   _________
Cash at End of Period                $   3,503   $   9,373    $  3,503
                                     __________  __________   _________

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

Supplemental Schedule of Non-cash Investing and Financing Activities:
  For the years ended December 31, 2003 and 2002:
     None









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
  discontinued   its  wine investment  business  effective December 31, 2003
  [See Note 2].   The  Company  is   currently   seeking    other   business
  opportunities.   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.

  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.

  Recently  Enacted Accounting Standards - Statement of Financial Accounting
  Standards ("SFAS") No. 146, "Accounting for Costs Associated with Exit  or
  Disposal  Activities", SFAS No. 147, "Acquisitions  of  Certain  Financial
  Institutions  - an Amendment of FASB Statements No. 72 and  144  and  FASB
  Interpretation   No.  9",  SFAS  No.  148,  "Accounting  for   Stock-Based
  Compensation - Transition and Disclosure - an Amendment of FASB  Statement
  No.  123",  SFAS  No.  149,  "Amendment of  Statement  133  on  Derivative
  Instruments  and  Hedging Activities", and SFAS No. 150,  "Accounting  for
  Certain Financial Instruments with Characteristics of both Liabilities and
  Equity",  were recently issued.  SFAS No. 146, 147, 148, 149 and 150  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,   2003  have  been  reclassified  to  conform  to  the  headings   and
  classifications used in the December 31, 2003 financial statements.

                                  -7-
<PAGE>

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

                       NOTES TO 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,  2003,  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,
                                       2003      2002          2003
                                    _________  _________   ___________
         Revenue                    $       -  $ 11,882    $   99,820
         Cost of goods sold                 -   (47,900)     (118,168)
         General and administrative         -    (6,026)      (35,253)
         Other income                       -         -         1,000
         Income taxes                       -         -        (1,905)
                                    _________  _________   ___________
         Net loss                   $       -  $(42,044)   $  (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, 2003.

  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.

                                   -8-
<PAGE>

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

                       NOTES TO FINANCIAL STATEMENTS


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, 2003, an operating loss  carryforward  of
  approximately $79,000, which may be applied against future taxable  income
  and which expires in various years through 2023.

  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  $26,700  and  $12,600 as of December  31,  2003  and  2002,
  respectively, with an offsetting valuation allowance of the  same  amount.
  The change in the valuation allowance for the year ended December 31, 2003
  is approximately $14,100.

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.

  Shareholder Loans - At December 31, 2003, a shareholder of the Company had
  loaned a total of $16,450 to the Company.  The advances are due on  demand
  and bear interest at 10% per annum. Interest expense for the years   ended
  December 31, 2003 and 2002 amounted to $1,649 and $1,585, respectively.

                                    -9-
<PAGE>

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

                       NOTES TO FINANCIAL STATEMENTS

NOTE 6 - RELATED PARTY TRANSACTIONS [Continued]

  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 a carrying
  value of $47,900, for $11,882 resulting in a loss of $36,018.

NOTE 7 - LOSS PER SHARE

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

                                       For the         From Inception
                                     Year Ended        on February 11,
                                     December 31,       1998 Through
                                _______________________ December 31,
                                   2003       2002         2003
                                _________   _________    _________
  Income (loss) from
  continuing operations
  (numerator)                   $ (8,304)   $ (1,585)    $ (12,566)

  Income (loss) from
  discontinued operations
  (numerator)                          -     (42,044)      (54,506)

  Cumulative effect of
  change in accounting
  principle (numerator)                -           -         (750)
                                _________   _________    _________
  Income (loss) available
  to common shareholders
  (numerator)                   $ (8,304)   $(43,629)    $(67,822)
                                _________   _________    _________

  Weighted average number
  of common shares
  outstanding used in loss
  per share for the period
  (denominator)                 2,000,000   2,000,000    1,993,381
                                _________   _________    _________


  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.


                                    -10-
<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:   April 13, 2004
     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:    April 13, 2004
     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.