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, 2000    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

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.  $

As of February 26, 2001, the aggregate market value of voting stock held by
non-affiliates was approximately $100,000.

The number of shares outstanding of the Issuer's common stock at December 31,
2000: 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.  We 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.

     (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 we cannot assure,
that the appreciation of the wines will be greatest within this period.  We
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 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.

<PAGE>

     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 six year
old 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 or to
be 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.

     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,
<PAGE>
the initial purchase of wines, an investment costing about $50,000.00, 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.  We
may lease commercial office facilities at such time in the future as our
operations have developed to the point where the facilities are needed, but we
have no commitments or arrangements for any facilities, and there is no
assurance regarding the future availability of commercial office facilities or
terms on which we may be able to lease facilities in the future, nor any
assurance regarding 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 was not closed until late
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. Our 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, 1999                $ .40                    $ .40
     June 30, 1999                 $ .40                    $ .40
     September 30, 1999            $ .40                    $ .40
     December 31, 1999             $ .40                    $ .40

     March 31, 2000                $1.50                    $ .50
     June 30, 2000                 $1.50                    $ .50
     September 30, 2000            $1.50                    $ .50
     December 31, 2000             $1.50                    $ .50

     (B)  HOLDERS.

     As of February 26, 2001, there were about 41 record holders of the
Company's 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.  Our present intention is to utilize all
available funds for the development of our 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 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
<PAGE>
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
                         Since inception
Pam Jowett       48                       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.

     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
<PAGE>
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
                                1,575,000 shares
Pam Jowett             Common                        79%
2508 S. 1300 E.
SLC, UT 84106
                                  175,000 shares
Lynn Dixon             Common                         9%
311 S. State, #460
SLC, UT 84111
                                1,575,000 shares
All officers and       Common                        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 our 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, 2000.

<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 26, 2001
     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 26, 2001
     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, 2000 AND 1999

                                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,
  2000 and 1999 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, 2000. 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 generally accepted
  auditing standards. Those standards require that I plan and
  perform the audit to obtain reasonable assurance about whether
  the financial statements are free of material misstatements. 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, 2000 and 1999, and the results of its operations
  and its cash flows for the years then ended and from Inception
  (September 9, 1997) to December 31, 2000 in conformity with
  generally accepted accounting principles.


                                     /s/ David T. Thomson P.C.


  Salt Lake City, Utah
  February 20, 2001


<PAGE>

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

BALANCE SHEETS

ASSETS


                                               December 31,December 31,
                                                 2000     1999

CURRENT ASSETS:
     Cash in bank                                  $266   $10,703
     Inventory                                   47,000    45,500
                                               __________________

               Total Current Assets              47,266    56,203
                                               ________ _________

OTHER ASSETS:
     Deferred costs - warrants registration      14,476    14,476
                                               __________________

               Total Other Assets                14,476    14,476
                                               ________ _________

TOTAL ASSETS                                    $61,742   $70,679
                                               ======== =========

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable                            $1,500        $0
     Accrued interest payable                       453        70
     Income tax payable                               0     1,905
     Stockholder advances payable                 5,500     3,000
     Short term advance                               0     6,100
                                               ________ _________

               Total Current Liabilities          7,453    11,075
                                               ________ _________

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                          4,927    10,242
                                               ________ _________

               Total Stockholders' Equity        54,289    59,604
                                               ________ _________

TOTAL LIABILITIES AND STOCKHOLDERS'  EQUITY     $61,742   $70,679
                                               ======== =========

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,Development
                                 December 31,
                                     2000       1999     Stage

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

          Gross profit                     0     17,670    17,670
                                   _________ ____________________

EXPENSES:
     Professional fees                 4,707        718     7,400
     Fees and licenses                   215        195     1,801
     Amortization expense                  0          0       250
                                   _________ ____________________

                                       4,922        913     9,451
                                   _________ ____________________

INCOME (LOSS) FROM OPERATIONS        (4,922)     16,757     8,219

OTHER INCOME (EXPENSE)
     Other income                          0          0     1,000
     Interest expense                  (393)       (70)   (1,637)
                                   _________ ____________________

NET INCOME BEFORE INCOME TAXES       (5,315)     16,687     7,582
     Provision for income taxes            0    (1,905)   (1,905)
                                   _________ ____________________

NET INCOME (LOSS) BEFORE CUMULATIVE
EFFECT OF ACCOUNTING CHANGE          (5,315)     14,782     5,677
     Cumulative effect of
accounting change for
     organization costs                    0      (750)     (750)
                                   _________ ____________________

NET INCOME (LOSS)                   $(5,315)    $14,032    $4,927
                                   ========= ====================

EARNINGS (LOSS) PER SHARE BEFORE
ACCOUNTING CHANGE                          0      $0.01     $0.00
                                   ========= ====================
CUMULATIVE EFFECT OF ACCOUNTING CHANGE     0      $0.00     $0.00
                                   ========= ====================
EARNINGS (LOSS) PER SHARE              $0.00      $0.01     $0.00

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

                                 3

<PAGE>

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

STATEMENT OF STOCKHOLDERS' EQUITY

                                                                     Deficit
                                                                    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      1,750,000 1,750    3,300         0
  approximately $.0029 per share

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                0     0   (5,688)        0
  common stock to the public

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                 0     0        0    (1,440)
 ended December 31, 1998               ___________________________________

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

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

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

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

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

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       Cumulative
                                                   Year Ended     During The
                                                   December 31,   Development
                                                 2000       1999      Stage

CASH FLOWS FROM OPERATING ACTIVITIES:
  Sales                                            $0    $87,938    $87,938
  Organization costs                                0          0    (1,000)
  Cash paid for inventory and related costs         0   (61,110)  (115,698)
  Cash paid to suppliers and others            (4,922)     (983)    (8,211)
  Cash paid for taxes                          (1,905)              (1,905)
  Cash paid for interest                          (10)         0      (994)
                                            __________ _____________________

    Cash Flows (Used) by Operating             (6,837)    25,845   (39,870)
    Activities                              __________ _____________________

CASH FLOW FROM INVESTING ACTIVITIES:                0         0          0
                                            __________ _____________________

CASH FLOWS FROM FINANCING ACTIVITIES:
  Stockholder loan                              2,500      3,000      5,500
  Sale of common stock                              0          0     55,050
  Direct costs of common stock sale                 0          0     (5,688)
  Direct costs of warrants registration             0    (14,476)   (14,476)
  Proceeds from short term advance and loan         0      6,100     27,100
  Loan and advance payments                    (6,100)   (11,000)   (27,350)
                                            __________ _____________________

    Cash Flows Provided (Used) by              (3,600)   (16,376)    40,136
    Financing Activities                    __________ _____________________

NET INCREASE (DECREASE) IN CASH               (10,437)      9,469       266

CASH - BEGINNING OF PERIOD                     10,703       1,234         0
                                            __________ _____________________

CASH - END OF PERIOD                             $266     $10,703      $266
                                            ========== =====================

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

NET INCOME (LOSS)                            $(5,315)    $14,032     $4,927
                                            __________ _____________________

Adjustment to reconcile net (loss) to
net cash provided (used) by operating
activities

 Amortization of organization costs                0          0         250
 Cumulative change in accounting principle         0        750         750
 Changes in assets and liabilities
  (Increase) decrease in inventory                 0      9,088     (45,500)
  Decrease in prepaid expenses                     0          0           0
  (Increase) in organization costs                 0          0      (1,000)
  (Decrease) in accounts payable                   0          0           0
  Increase (decrease) in accrued interest        383         70         453
  Increase (decrease) in income tax payable   (1,905)     1,905           0
  Increase in note payable                         0          0         250
                                             __________ _____________________

    Total Adjustments                         (1,522)    11,813     (44,797)
                                             __________ _____________________

NET CASH PROVIDED(USED) BY OPERATING ACTIVITIES  $(6,837) $25,845  $(39,870)
                                             ========== =====================

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, 2000 and
       1999, the Company did not have non-cash financing activities.
       However during the year ended December 31, 2000, under investing
       activities, inventory costs were paid for on account and increased
       accounts payable.  There were no non-cash investing activities for
       the year ended December 31, 1999.

       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
       and is 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, 2000 and
       1999 no compensation has been paid or accrued to any officers or
       directors of the Corporation.

  NOTE    4  -  INCOME TAXES

       At December 31, 2000, and 1999, the Company had income taxes
       payable of $-0- and $1,905 with deferrred tax assets for the same
       periods of $53 and $83 respectively.  At December 31, 2000, the
       Company had a net federal operating loss (NOL) of $5,515 which can
       be carried forward to offset operating income.  The Company's NOL
       will expire in 2020. Valuation allowances of $880 and $83 have
       been established for deferred tax assets associated with the above
       NOL for 2000 and for the amortizing of organization costs for tax
       purposes for the years ended December 31, 2000 and 1999
       respectively.  The change in the valuation allowances for 2000 and
       1999 was $797 and $83.

  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, 2000, a stockholder has
       advance $5,500 to the Company on an unsecured basis. The loan is
       due upon demand and carries interest at 10% per annum.



















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