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UNITED STATES
  SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-QSB

(Mark One)

x QUARTERLY REPORT
  UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
  FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2004

 ̈ TRANSITION REPORT
  UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
  FOR THE TRANSITION PERIOD FROM ____ TO _____ .

Commission File Number: 333-103986

CAN/AM AUTOSALES, INC.
  (Exact name of small business issuer as specified in its charter)

|Nevada                                                               | 98-0384073                       
|-------------------------------------------------------------------- | ---------------------------------
|(State or other jurisdiction of incorporation
      or organization) | (IRS Employer Identification No.)

1577 W. 4th AvenueVancouver, B.C. Canada V6J 1L6
  (Address of principal executive offices)

(604) 732-3799
  (Issuer's Telephone Number)

Check whether the issuer (1) filed all reports required to
  be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months
  (or for such shorter period that the registrant 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
   ̈

As of June 30, 2004, the issuer had 18,262,500 shares issued
  and outstanding of its common stock.

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PART I  FINANCIAL INFORMATION

Item 1. Financial Statements

CAN/AM AUTOSALES, INC.Index to Financial StatementsJune 30, 2004(Unaudited)

|Balance Sheet:                                        |    
|----------------------------------------------------- | ---
|June 30,
      2004                                   | F-2
|                                                     
|Statements of Loss:                                   |    
|For the
      quarters ended June 30, 2004 and 2003   | F-3
|For the
      six months ended June 30, 2004 and 2003 | F-4
|                                                     
|Statements of Stockholders'
      Equity:             |    
|For the
      periods ended June 30, 2004             | F-5
|                                                     
|Statements of Cash Flows:                             |    
|For the
      periods ended June 30, 2004 and 2003    | F-6
|                                                     
|Notes to Financial Statements:                        |    
|June 30,
      2004                                   | F-7

F-1

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CAN/AM AUTOSALES, INC.(A development stage enterprise)Balance SheetJune 30, 2004(Unaudited)

|ASSETS                                                 |   |         |  
|------------------------------------------------------ | - | ------- | -
|Current assets:                                        |   |         |  
|Cash and cash equivalents                              | $ | 41,235  |  
|Website development costs,
      net of accumulated    |   |         |  
|amortization of
      $1,739                           |   | 870     |  
|Total current assets                                   |   | 42,105  |  
|Total assets                                           | $ | 42,105  |  
|                                                      
|                                                      
|LIABILITIES                                            |   |         |  
|Current liabilities:                                   |   |         |  
|Accounts payable and accrued
      expenses            | $ | 3,334   |  
|Total current liabilities                              |   | 3,334   |  
|                                                      
|Total liabilities                                      |   | 3,334   |  
|                                                      
|                                                      
|STOCKHOLDER'S EQUITY                                   |   |         |  
|Common stock, $.001 par value, 100,000,000 authorized, |   |         |  
|18,262,500 shares issued
      and outstanding         |   | 18,263  |  
|Capital in excess of par value                         |   | 53,804  |  
|Deficit accumulated during the development
      stage |   | (33,296 | )
|Total stockholder's
      equity                       |   | 38,771  |  
|Total liabilities
      and stockholder's equity       | $ | 42,105  |  

F-2

The accompanying notes are an integral part of these statements.

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CAN/AM AUTOSALES, INC.(A development stage enterprise)Statement of Loss For The Quarters EndedJune 30, 2004 and 2003(Unaudited)

|                                              |   | Quarter Ended |   |   | Quarter Ended |  
|--------------------------------------------- | - | ------------- | - | - | ------------- | -
|                                              |   | June 30,      |   |   | June 30,      |  
|                                              |   | 2004          |   |   | 2003          |  
|                                             
|Revenues                                      | $ | -             |   | $ | -             |  
|                                             
|General and administrative expenses           |   | 8,798         |   |   | 6,856         |  
|Total operating expenses                      |   | 8,798         |   |   | 6,856         |  
|(Loss) before taxes                           |   | (8,798        | ) |   | (6,856        | )
|                                             
|Provision (credit) for taxes on income:       |   | -             |   |   | -             |  
|Net (loss)                                    | $ | (8,798        | ) | $ | (6,856        | )
|                                             
|                                             
|Basic earnings (loss) per common share        | $ | (0.00         | ) | $ | (0.00         | )
|                                             
|Weighted average number of shares outstanding |   | 18,100,137    |   |   | 17,250,000    |  

F-3

The accompanying notes are an integral part of these statements.

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CAN/AM AUTOSALES, INC.(A development stage enterprise)Statement of Loss For The Six Months EndedJune 30, 2004 and 2003(Unaudited)

|                                              |   | Cumulative,  |   |   |            |   |   |            |  
|--------------------------------------------- | - | ------------ | - | - | ---------- | - | - | ---------- | -
|                                              |   | Inception,   |   |   |            |   |   |            |  
|                                              |   | November 22, |   |   | Six Months |   |   | Six Months |  
|                                              |   | 2002 Through |   |   | Ended      |   |   | Ended      |  
|                                              |   | June 30,     |   |   | June 30,   |   |   | June 30,   |  
|                                              |   | 2004         |   |   | 2004       |   |   | 2003       |  
|                                             
|Revenues                                      | $ | -            |   | $ | -          |   | $ | -          |  
|                                             
|General and administrative expenses           |   | 33,296       |   |   | 16,245     |   |   | 14,689     |  
|Total operating expenses                      |   | 33,296       |   |   | 16,245     |   |   | 14,689     |  
|(Loss) before taxes                           |   | (33,296      | ) |   | (16,245    | ) |   | (14,689    | )
|                                             
|Provision (credit) for taxes on income:       |   | -            |   |   | -          |   |   | -          |  
|Net (loss)                                    | $ | (33,296      | ) | $ | (16,245    | ) | $ | (14,689    | )
|                                             
|                                             
|Basic earnings (loss) per common share        |   |              |   | $ | (0.00      | ) | $ | (0.00      | )
|                                             
|Weighted average number of shares outstanding |   |              |   |   | 17,679,190 |   |   | 17,250,000 |  

F-4

The accompanying notes are an integral part of these statements.

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CAN/AM AUTOSALES, INC.(A development stage enterprise)Statement of Stockholder's Equity For The Periods EndedJune 30, 2004(Unaudited)

|                              |              |  |   |           |  |   |             |   |   | Deficit     |   |   |         |  
|----------------------------- | ------------ |  | - | --------- |  | - | ----------- | - | - | ----------- | - | - | ------- | -
|                              |              |  |   |           |  |   |             |   |   | Accumulated |   |   |         |  
|                              |              |  |   |           |  |   | Capital in  |   |   | During the  |   |   |         |  
|                              | Common Stock |  |   | Excess of |  |   | Development |   |   |             |  
|                              | Shares       |  |   | Amount    |  |   | Par Value   |   |   | Stage       |   |   | Total   |  
|                             
|Inception, November 22, 2002  | -            |  | $ | -         |  | $ | -           |   | $ | -           |   | $ | -       |  
|Stock issued for cash         | 300,000      |  |   | 300       |  |   | 2,700       |   |   |             |   |   | 3,000   |  
|Development stage net (loss)  |              |  |   |           |  |   |             |   |   | (1,782      | ) |   | (1,782  | )
|Balances, December 31, 2002   | 300,000      |  | $ | 300       |  | $ | 2,700       |   | $ | (1,782      | ) | $ | 1,218   |  
|                             
|Stock issued for cash         | 3,150,000    |  |   | 3,150     |  |   | 64,350      |   |   |             |   |   | 67,500  |  
|Development stage net (loss)  |              |  |   |           |  |   |             |   |   | (15,269     | ) |   | (15,269 | )
|Balances, December 31, 2003   | 3,450,000    |  | $ | 3,450     |  | $ | 67,050      |   | $ | (17,051     | ) | $ | 53,449  |  
|                             
|Stock issued for cash         | 202,500      |  |   | 203       |  |   | 20,047      |   |   |             |   |   | 20,250  |  
|Less, Expenses in connection  |              |  |   |           |  |   |             |   |   |             |   |   |         |  
|with stock offering           |              |  |   |           |  |   | (18,683     | ) |   |             |   |   | (18,683 | )
|Development stage net (loss)  |              |  |   |           |  |   |             |   |   | (16,245     | ) |   | (16,245 | )
|                              | 3,652,500    |  | $ | 3,653     |  | $ | 68,414      |   | $ | (33,296     | ) | $ | 38,771  |  
|                             
|Retroactive effect of 5 for 1 |              |  |   |           |  |   |             |   |   |             |   |   |         |  
|forward split                 | 14,610,000   |  |   | 14,610    |  |   | (14,610     | ) |   |             |   |   | -       |  
|Balances, June 30, 2004       | 18,262,500   |  | $ | 18,263    |  | $ | 53,804      |   | $ | (33,296     | ) | $ | 38,771  |  

F-5

The accompanying notes are an integral part of these statements.

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CAN/AM AUTOSALES, INC.(A development stage enterprise)Statement of Cash Flows For The Six Months EndedJune 30, 2004 and 2003(Unaudited)

|                                                              |   | Cumulative,  |   |   |            |   |   |            |  
|------------------------------------------------------------- | - | ------------ | - | - | ---------- | - | - | ---------- | -
|                                                              |   | Inception,   |   |   |            |   |   |            |  
|                                                              |   | November 22, |   |   | Six Months |   |   | Six Months |  
|                                                              |   | 2002 Through |   |   | Ended      |   |   | Ended      |  
|                                                              |   | June 30,     |   |   | June 30,   |   |   | June 30,   |  
|                                                              |   | 2004         |   |   | 2004       |   |   | 2003       |  
|                                                             
|Cash flows from operating activities:                         |   |              |   |   |            |   |   |            |  
|Net (loss)                                                    | $ | (33,296      | ) | $ | (16,245    | ) | $ | (14,689    | )
|                                                             
|Adjustments to reconcile net (loss) to cash                   |   |              |   |   |            |   |   |            |  
|provided (used) by developmental stage activities:            |   |              |   |   |            |   |   |            |  
|Amortization                                                  |   | 1,739        |   |   | 1,304      |   |   | -          |  
|Change in current assets and liabilities:                     |   |              |   |   |            |   |   |            |  
|Prepaid expenses                                              |   | -            |   |   |            |   |   | (1,000     | )
|Accounts payable and accrued expenses                         |   | 3,334        |   |   | 1,189      |   |   | 4,293      |  
|Advances from related party                                   |   | -            |   |   | -          |   |   | (420       | )
|Net cash flows from operating activities                      |   | (28,223      | ) |   | (13,752    | ) |   | (11,816    | )
|                                                             
|Cash flows from investing activities:                         |   |              |   |   |            |   |   |            |  
|Website development costs incurred                            |   | (2,609       | ) |   | -          |   |   | -          |  
|Net cash flows from investing activities                      |   | (2,609       | ) |   | -          |   |   | -          |  
|                                                             
|                                                             
|Cash flows from financing activities:                         |   |              |   |   |            |   |   |            |  
|Proceeds from sale of common stock                            |   | 90,750       |   |   | 20,250     |   |   | 67,500     |  
|Stock offering expenses                                       |   | (18,683      | ) |   | (18,683    | ) |   | -          |  
|Change in prepaid expenses applicable to financing activities |   | -            |   |   | 18,484     |   |   | -          |  
|Net cash flows from financing activities                      |   | 72,067       |   |   | 20,051     |   |   | 67,500     |  
|Net cash flows                                                |   | 41,235       |   |   | 6,299      |   |   | 55,684     |  
|                                                             
|Cash and equivalents, beginning of period                     |   | -            |   |   | 34,936     |   |   | 2,347      |  
|Cash and equivalents, end of period                           | $ | 41,235       |   | $ | 41,235     |   | $ | 58,031     |  
|                                                             
|Supplemental cash flow disclosures:                           |   |              |   |   |            |   |   |            |  
|Cash paid for interest                                        | $ | -            |   | $ | -          |   | $ | -          |  
|Cash paid for income taxes                                    |   | -            |   |   | -          |   |   | -          |  

F-6

The accompanying notes are an integral part of these statements.

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CAN/AM AUTOSALES, INC.(A development stage enterprise)Notes to Unaudited Financial StatementsJune 30, 2004(Unaudited)

The accompanying unaudited interim financial statements include
  all adjustments, which in the opinion of management, are necessary in order
  to make the accompanying financial statements not misleading, and are of a normal
  recurring nature. However, the accompanying unaudited financial statements do
  not include all of the information and footnotes necessary for a complete presentation
  of financial position, results of operations, cash flows and stockholders' equity
  in conformity with generally accepted accounting principles. Except as disclosed
  herein, there has been no material change in the information disclosed in the
  notes to the financial statements included in Can/Am Autosales, Inc.'s Form
  10-K for the period ended December 31, 2003. Operating results for the three
  months ended June 30, 2004, are not necessarily indicative of the results that
  can be expected for the year ended December 31, 2004.

Note 1 - Capital stock:

Since its inception, the Company has issued shares of its common stock as
  follows:

|         |  |                                      |  |            |  | Price Per |  |           
|-------- |  | ------------------------------------ |  | ---------- |  | --------- |  | ----------
|Date     |  | Description                          |  | Shares     |  | Share     |  | Amount    
|11/22/02 |  | Shares issued for cash               |  | 300,000    |  | $0.01     |  | $3,000    
|01/13/03 |  | Shares issued for cash               |  | 300,000    |  | 0.01      |  | 3,000     
|01/14/03 |  | Shares issued for cash               |  | 275,000    |  | 0.01      |  | 2,750     
|01/18/03 |  | Shares issued for cash               |  | 150,000    |  | 0.01      |  | 1,500     
|01/20/03 |  | Shares issued for cash               |  | 300,000    |  | 0.01      |  | 3,000     
|01/25/03 |  | Shares issued for cash               |  | 100,000    |  | 0.01      |  | 1,000     
|02/04/03 |  | Shares issued for cash               |  | 50,000     |  | 0.01      |  | 500       
|02/17/03 |  | Shares issued for cash               |  | 275,000    |  | 0.01      |  | 2,750     
|02/24/03 |  | Shares issued for cash               |  | 100,000    |  | 0.01      |  | 1,000     
|02/25/03 |  | Shares issued for cash               |  | 200,000    |  | 0.01      |  | 2,000     
|02/26/03 |  | Shares issued for cash               |  | 250,000    |  | 0.01      |  | 2,500     
|02/27/03 |  | Shares issued for cash               |  | 50,000     |  | 0.01      |  | 500       
|03/01/03 |  | Shares issued for cash               |  | 100,000    |  | 0.01      |  | 1,000     
|03/03/03 |  | Shares issued for cash               |  | 100,000    |  | 0.01      |  | 1,000     
|03/11/03 |  | Shares issued for cash               |  | 900,000    |  | 0.05      |  | 45,000    
|03/25/04 |  | Shares issued for cash               |  | 15,000     |  | 0.10      |  | 1,500     
|03/29/04 |  | Shares issued for cash               |  | 25,000     |  | 0.10      |  | 2,500     
|03/30/04 |  | Shares issued for cash               |  | 10,000     |  | 0.10      |  | 1,000     
|03/31/04 |  | Shares issued for cash               |  | 45,000     |  | 0.10      |  | 4,500     
|04/01/04 |  | Shares issued for cash               |  | 10,000     |  | 0.10      |  | 1,000     
|04/06/04 |  | Shares issued for cash               |  | 15,000     |  | 0.10      |  | 1,500     
|04/21/04 |  | Shares issued for cash               |  | 10,000     |  | 0.10      |  | 1,000     
|04/23/04 |  | Shares issued for cash               |  | 10,000     |  | 0.10      |  | 1,000     
|05/04/04 |  | Shares issued for cash               |  | 10,000     |  | 0.10      |  | 1,000     
|05/05/04 |  | Shares issued for cash               |  | 10,000     |  | 0.10      |  | 1,000     
|05/10/04 |  | Shares issued for cash               |  | 7,500      |  | 0.10      |  | 750       
|05/10/04 |  | Shares issued for cash               |  | 10,000     |  | 0.10      |  | 1,000     
|05/11/04 |  | Shares issued for cash               |  | 25,000     |  | 0.10      |  | 2,500     
|         |  | Cumulative total                     |  | 3,652,500  |  |           |  | $90,750.00
|         |  | Retroactive effect of 5 for 1 split  |  | 14,610,000 |  |           |  |           
|         |  | Cumulative total after 5 for 1 split |  | 18,262,500 |  |           |  |           

F-7

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CAN/AM AUTOSALES, INC.(A development stage enterprise)Notes to Unaudited Financial StatementsJune 30, 2004(Unaudited)

On June 19, 2004, our Directors approved a 5 for 1 forward
  split of the company's common stock. All shareholders of record as of July 13,
  2004 will receive a new certificate for 5 shares for each share they own as
  of the close of business on that date. After the common stock split, the equivalent
  number of issued and outstanding shares of the Company outstanding at June 30,
  2004 will increase from 3,652,000 to 18,262,500. Total shares authorized of
  100 million and par value of $0.001 per common share remain unchanged. The effect
  of the split has been retroactively reflected in the accompanying financial
  statements.

Note 2 - Uncertainty, going concern:

At June 30, 2004, the Company was not currently engaged in
  a business and had suffered losses from development stage activities to date.
  Although management is currently attempting to implement its business plan (see
  Note 2 in the December 31, 2003 audited financial statements included in the
  Company's Form 10-K) and is seeking additional sources of equity or debt financing,
  there is no assurance these activities will be successful. Accordingly, the
  Company must rely on its officers and directors to perform essential functions
  without compensation until a business operation can be commenced. These factors
  raise substantial doubt about the ability of the Company to continue as a going
  concern. The financial statements do not include any adjustments that might
  result from the outcome of this uncertainty.

Note 3  Website development costs:

The Company follows Emerging Issues Task Force reached a consensus
  on Issue No. 00-2, Accounting for Website Development Costs, ("EITF
  Issue No. 00-2"), which provides that for specific website development costs,
  the accounting should be based generally on AICPA Statement of Position 98-1,Accounting for the Costs of Computer Software Developed or Obtained for Internal
  Use.Under SOP 98-1, development costs are capitalized and amortized
  to income over the estimated useful life of the website.

The Company has incurred $2,609 in development costs through
  June 30, 2004, which have been capitalized, and are being amortized over a period
  expiring in November, 2004.

Note 4  Subsequent events:

On August 16, 2004, the Company signed a Letter of Intent
  with London Finance Group, Ltd., a British company (LFG), for a share exchange
  of all of the shares of LFG for common and preferred stock of CanAm. LFG has
  several subsidiaries, including two European banks and a software trading platform.
  We are currently undertaking due diligence with regard to this acquisition,
  and closing is set to occur on or before September 20, 2004. While we believe
  that this potential acquisition could be of significant benefit to the Company,
  there is no assurance it will be concluded, or that the terms of the stock exchange
  will not differ from the initial negotiations.

F-8

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Item 2. Plan of Operation

Can/Am Autosales, Inc., is a development stage company with
  no operations, no revenue, no financial backing and limited assets. Our plan
  is to market used cars through the internet and auto trade magazines to individuals
  in the U.S. and Canada.

As of June 30, 2004, Can/Am had approximately $41,200 of cash.
  Development stage net loss for the six months ended June 30, 2004 was $16,245,
  compared to $14,689 for the six month period ended June 30, 2003. The loss for
  the quarter ended June 30, 2004 of $8,798, consisted primarily of legal and
  accounting expenses incident to the company's development stage activities.

Can/Am's website at, www.canamautosales.com, will be used
  as an information portal and will not offer on-line buying. The website will
  advertise all the vehicles available for sale with detailed mechanical inspection
  reports. It will also provide contact information by telephone, e-mail, and
  fax. During this first year of operations, our officers and directors have provided
  their labor at no charge.

On August 16, 2004, the Company signed a Letter of Intent
  with London Finance Group, Ltd., a British company (LFG), for a share exchange
  of all of the shares of LFG for common and preferred stock of the Company. LFG
  has several subsidiaries, including two European banks and a software trading
  platform. Based on initial due diligence, it appears that these subsidiaries
  generated profits in 2003 in excess of $30,000,000 (US). The Company is undertaking
  its due diligence with regard to this acquisition, and closing is set to occur
  on or before September 20, 2004. While management believes that this potential
  acquisition could be of significant benefit to the Company, management must
  caution that it is still investigating this potential exchange, and there exists
  a possibility that it will not be concluded, or that the terms of the stock
  exchange will differ from the initial negotiations.

There is substantial doubt about our ability to continue as
  a going concern as we have suffered recurring losses from operations and have
  no established source of revenue.

Accordingly, our independent auditors included an explanatory
  paragraph (Note 2) regarding concerns about our ability to continue as a going
  concern. Our financial statements contain additional note disclosures describing
  the circumstances that lead to this disclosure by our independent auditors.

Item 3. Effectiveness of the registrant's disclosure controls
  and procedures

The Company is not yet subject to Rule 13a-14(c) under the
  Securities Exchange Act of 1934).

Part II  Other Information

Item 1. Legal Proceedings

> None

Item 2. Changes in Securities

> None

2

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Item 3. Defaults upon Senior Securities

> None

Item 4. Submission of Matters to a Vote of Security Holders

> None

Item 5. Other information

> None

Item 6. Exhibits and Reports on Form 8-K

Exhibits:

|Exhibit No. | Document                                                                                                                                                                                                             | Location        
|----------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------
|3.1         | Articles of Incorporation                                                                                                                                                                                            | Previously Filed
|3.2         | Bylaws                                                                                                                                                                                                               | Previously Filed
|31.1        | Certification of the Chief Executive
      Officer of the Company as adopted pursuant to Section 302 of the Sarbanes-Oxley
      Act of 2002                                                                         | Included        
|31.2        | Certificate of the Chief Financial
      Officer of the Company as adopted pursuant to Section 302 of the Sarbanes-Oxley
      Act of 2002                                                                           | Included        
|32.1        | Certification of the Chief Executive
      Officer and Chief Financial Officer of the Company pursuant to 18 U.S.C. 
      Section 1350, as adopted pursuant to Section 906 of the  Sarbanes-Oxley
      Act of 2002 | Included        

Reports on Form 8-K

Form 8-K filed June 21, 2004, on Items 5 and 6, announcing a 5:1 forward split of the Company's stock and the resignation of a director.

Form 8-K filed August 10, 2004, on Item 5, announcing the appointment of a new director.

Form 8-K filed August 18, 2004, on Item 5, announcing a 16.5:1 forward split
  of the Company's stock.

SIGNATURE

In accordance with Section 13 or 15(d) of the Exchange Act,
  the registrant caused this report to be signed on its behalf by the undersigned,
  thereunto duly authorized, this 19th day of August, 2004.

CAN AM AUTOSALES, INC.

/s/ Triantafyllos Groumoutis
  By: Triantafyllos Groumoutis 
  Its: President and CEO

3

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