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**UNITED STATESSECURITIES AND EXCHANGE COMMISSION** Washington, 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 **MARCH 31, 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 | (IRS Employer Identification No.)
|or organization)                              |                                  

**1577 W. 4th Avenue****Vancouver, 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 May 1 2004, the issuer had 3,590,000 shares issued and
  outstanding of its common stock.

PART I  FINANCIAL INFORMATION

Item 1. Financial Statements

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|CAN/AM AUTOSALES, INC.
      Index to Financial Statements 
      March 31, 2004 
      (Unaudited)
|---------------------------------------------------------------------------------------------------



|Balance Sheet:                                      |     | 
|--------------------------------------------------- | --- | 
|March
      31, 2004                                | F-2 | 
|                                                    |     | 
|Statements of Loss:                                 |     | 
|For
      the periods ended March 31, 2004 and 2003 | F-3 | 
|                                                    |     | 
|Statements of Stockholders' Equity:                 |     | 
|For
      the periods ended March 31, 2004          | F-4 | 
|                                                    |     | 
|Statements of Cash Flows:                           |     | 
|For
      the periods ended March 31, 2004 and 2003 | F-5 | 
|                                                    |     | 
|Notes to Financial Statements:                      |     | 
|March
      31, 2004                                | F-6 | 

F-1

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|CAN/AM
      AUTOSALES, INC.(A development stage enterprise) Balance Sheet 
      March 31, 2004 
      (Unaudited)
|-------------------------------------------------------------------------------------------------------------------

|ASSETS                                                        |   |         |  
|------------------------------------------------------------- | - | ------- | -
|Current assets:                                               |   |         |  
|Cash
      and cash equivalents                               | $ | 37,423  |  
|Website
      development costs, net of accumulated           |   |         |  
|amortization
      of $ 1,087                                 |   | 1,522   |  
|Total
      current assets                                    |   | 38,945  |  
|Total
      assets                                            | $ | 38,945  |  
|                                                              |   |         |  
|LIABILITIES                                                   |   |         |  
|Current liabilities:                                          |   |         |  
|Accounts
      payable and accrued expenses                   | $ | 2,126   |  
|Total
      current liabilities                               |   | 2,126   |  
|Total
      liabilities                                       |   | 2,126   |  
|                                                              |   |         |  
|STOCKHOLDER'S EQUITY                                          |   |         |  
|Common stock, $ .001 par value, 100,000,000
      authorized, |   |         |  
|3,545,000
      shares issued and outstanding                 |   | 3,545   |  
|Capital in excess of par value                                |   | 57,772  |  
|Deficit accumulated during the development
      stage        |   | (24,498 | )
|Total
      stockholder's equity                              |   | 36,819  |  
|Total
      liabilities and stockholder's equity              | $ | 38,945  |  

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 Periods Ended 
      March 31, 2004 and 2003 
      (Unaudited)
|--------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                              |   | Cumulative,  |   |   |               |   |   |               |  
|--------------------------------------------- | - | ------------ | - | - | ------------- | - | - | ------------- | -
|                                              |   | Inception,   |   |   |               |   |   |               |  
|                                              |   | November 22, |   |   |               |   |   |               |  
|                                              |   | 2002 Through |   |   | Quarter Ended |   |   | Quarter Ended |  
|                                              |   | March 31,    |   |   | March 31,     |   |   | March 31,     |  
|                                              |   | 2004         |   |   | 2004          |   |   | 2003          |  
|                                              |   |              |   |   |               |   |   |               |  
|Revenues                                      | $ | -            |   | $ | -             |   | $ | -             |  
|                                              |   |              |   |   |               |   |   |               |  
|General and administrative expenses           |   | 24,498       |   |   | 7,447         |   |   | 7,833         |  
|Total operating expenses                      |   | 24,498       |   |   | 7,447         |   |   | 7,833         |  
|(Loss) before taxes                           |   | (24,498      | ) |   | (7,447        | ) |   | (7,833        | )
|                                              |   |              |   |   |               |   |   |               |  
|Provision (credit) for taxes on income:       |   | -            |   |   | -             |   |   | -             |  
|Net (loss)                                    | $ | (24,498      | ) | $ | (7,447        | ) | $ | (7,833        | )
|                                              |   |              |   |   |               |   |   |               |  
|Basic earnings (loss) per common share        |   |              |   | $ | (0.00         | ) | $ | (0.00         | )
|                                              |   |              |   |   |               |   |   |               |  
|Weighted average number of shares outstanding |   |              |   |   | 3,451,648     |   |   | 1,861,667     |  

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 Stockholder's Equity For The Periods Ended 
      March 31, 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        | 9,500        |  |   | 95        |  |   | 9,405       |   |   |             |   |   | 9,500   |  
|Less, Expenses in connection |              |  |   |           |  |   |             |   |   |             |   |   |         |  
|with stock offering          |              |  |   |           |  |   | (18,683     | ) |   |             |   |   | (18,683 | )
|Development stage net (loss) |              |  |   |           |  |   |             |   |   | (7,447      | ) |   | (7,447  | )
|Balances, March 31, 2004     | 3,459,500    |  | $ | 3,545     |  | $ | 57,772      |   | $ | (24,498     | ) | $ | 36,819  |  

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 Cash Flows For The Periods Ended
      March 31, 2004 and 2003
      (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                                    |   | Cumulative,  |   |   |               |   |   |               |  
|------------------------------------------------------------------- | - | ------------ | - | - | ------------- | - | - | ------------- | -
|                                                                    |   | Inception,   |   |   |               |   |   |               |  
|                                                                    |   | November 22, |   |   |               |   |   |               |  
|                                                                    |   | 2002 Through |   |   | Quarter Ended |   |   | Quarter Ended |  
|                                                                    |   | March 31,    |   |   | March 31,     |   |   | March 31,     |  
|                                                                    |   | 2004         |   |   | 2004          |   |   | 2003          |  
|                                                                    |   |              |   |   |               |   |   |               |  
|Cash flows from operating activities:                               |   |              |   |   |               |   |   |               |  
|Net (loss)                                                          | $ | (24,498      | ) | $ | (7,447        | ) | $ | (7,833        | )
|                                                                    |   |              |   |   |               |   |   |               |  
|Adjustments to reconcile net (loss) to cash                         |   |              |   |   |               |   |   |               |  
|provided (used) by developmental stage
      activities:            |   |              |   |   |               |   |   |               |  
|Amortization                                                        |   | 1,087        |   |   | 652           |   |   | -             |  
|Change in current assets and liabilities:                           |   |              |   |   |               |   |   |               |  
|Prepaid
      expenses                                              |   | -            |   |   | -             |   |   | (1,000        | )
|Accounts
      payable and accrued expenses                         |   | 2,126        |   |   | (19           | ) |   | 2,871         |  
|Advances
      from related party                                   |   | -            |   |   | -             |   |   | (420          | )
|Net
      cash flows from operating activities                      |   | (21,285      | ) |   | (6,814        | ) |   | (6,382        | )
|                                                                    |   |              |   |   |               |   |   |               |  
|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                                  |   | 80,000       |   |   | 9,500         |   |   | 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                      |   | 61,317       |   |   | 9,301         |   |   | 67,500        |  
|Net
      cash flows                                                |   | 37,423       |   |   | 2,487         |   |   | 61,118        |  
|                                                                    |   |              |   |   |               |   |   |               |  
|Cash and equivalents, beginning of period                           |   | -            |   |   | 34,936        |   |   | 2,347         |  
|Cash and equivalents, end of period                                 | $ | 37,423       |   | $ | 37,423        |   | $ | 63,465        |  
|                                                                    |   |              |   |   |               |   |   |               |  
|Supplemental cash flow disclosures:                                 |   |              |   |   |               |   |   |               |  
|Cash paid for interest                                              | $ | -            |   | $ | -             |   | $ | -             |  
|Cash paid for income taxes                                          |   | -            |   |   | -             |   |   | -             |  

F-5

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 Statements March 31, 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 March 31, 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      | 
| |          | Cumulative total       | 3,545,000 |  |           |  | $80,000.00 | 

Note 2 - Uncertainty, going concern:

At March 31, 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

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|CAN/AM
      AUTOSALES, INC. (A development stage enterprise)
      
      Notes to Unaudited Financial Statements March 31, 2004 
      (Unaudited)
|----------------------------------------------------------------------------------------------------------------------------------------------------

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
  March 31, 2004, which have been capitalized, and are being amortized over a
  period expiring in November, 2004.

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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.

We will start by establishing a corporate website through
  our registered domain name www.canamautosales.com. The President of Can/Am,
  Mr. Groumoutis, has a strong background in the automotive trade business , primarily
  involving the maintenance of vehicles. This experience is what is crucial to
  identifying quality used vehicles that require minimum maintenance and/or repairs.
  Mr. Groumoutis, who is based in Vancouver, B.C., will be responsible for the
  development of the U.S. and Canadian markets.

As of May 1, 2004, Can/Am had approximately $40,800 of cash.
  Development stage net loss for the three months ended March 31, 2004 was $7,447,
  compared to $7,833 for the three month period ended March 31, 2003. The loss
  for the year ended March 31, 2004 consisted primarily of legal and accounting
  expenses incident to the companys development stage activities.

The website as of March 31, 2004 is considered to be substantially
  complete, and was constructed using the funds already raised. Using these funds,
  the framework, navigational structure, color schemes and branding have been
  completed and can be viewed at www.canamautosales.com. As of March 31, 2004,
  Can/Am has spent $2,609 on website development, and expects to spend an additional
  $3,000 over the next twelve (12) months. The general public will not be able
  to view areas that are under construction. Website development costs are being
  amortized over a period ending in November 2004, at which time our domain registration
  will expire.

During the next twelve (12) months of operations, Can/Am will
  focus on finding sufficient investment capital, applying to get its common stock
  quoted on the OTCBB, locate a storage lot, identify and purchase used vehicles,
  and marketing these vehicles for sale. It is the intention of Can/Am to attempt
  to generate sources of revenue during this period.

Although authorized by its registration filing, Can/Am did
  not sell any of the offering prior to December 31, 2003. However, the Board
  of Directors authorized opening this offering again, and as such, we are in
  the process of selling common stock. As of May 1, 2004 140,000 shares were sold
  under this offering for total proceeds of $14,000. The extra money will allow
  us to purchase more inventory, lease a larger lot, and do additional marketing.
  We anticipate having revenues from sales of vehicles in the last half of the
  next twelve months. We will not purchase our first vehicle until after the close
  of the offering.

Upon raising sufficient funds to begin operation, we will
  look into leasing at least 3 parking spaces. We will then go about purchasing
  inventory. We will shop for vehicles through individuals by searching newspapers,
  auto trade magazines and their websites. Another source of purchasing vehicles
  is through wholesalers, which are dealers that are offering cars for sale to
  other dealers at wholesale prices. Can/Am is most likely to source cars through
  the individual sellers.

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
  will also provide their labor at no charge. We do not anticipate hiring any
  staff during this period. However, P.S. Motors Ltd., a company owned and operated
  by Mr. Groumoutis will charge a stand ard rate for its labor, for work performed
  by its staff for Can/Ams vehicles.

How long we will be able to satisfy our cash requirements,
  and whether we will require additional outside funding in the next twelve months
  depends on how quickly we can generate sales revenue, and how much revenue can
  be generated. We have no plans to undertake product research and development
  during the next twelve months. There are also no plans or expectations to purchase
  or sell any plant and or significant equipment in the first year of operations.

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 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

As of March 31, 2004, the Company carried out an evaluation
  of the effectiveness of the Companys disclosure controls and procedures
  (as defined by Rule 13a-14(c) under the Securities Exchange Act of 1934) under
  the supervision and with the participation of the Companys chief executive
  officer and chief financial officer. Based on and as of the date of such evaluation,
  the aforementioned officers have concluded that the Companys disclosure
  controls and procedures were effective.

The Company also maintains a system of internal accounting
  controls that is designed to provide assurance that assets are safeguarded and
  that transactions are executed in accordance with managements authorization
  and properly recorded. This system is continually reviewed and is augmented
  by written policies and procedures, the careful selection and training of qualified
  personnel and an internal audit program to monitor its effectiveness. During
  the nine- month period ended December 31, 2003, there were no significant changes
  to this system of internal controls or in other factors that could significantly
  affect those controls.

Part II  Other Information

Item 1. Legal Proceedings

None

Item 2. Changes in Securities

None

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

None

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 21st day of May, 2004.

CAN/AM AUTOSALES, INC.

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

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