SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

           {X} QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                       SECURITIES AND EXCHANGE ACT OF 1934

                    For Nine Months Ended September 30, 2000
                          Commission File Number 0-3296

                               ETHIKA CORPORATION
             (Exact name of registrant as specified in its charter)


                      MISSISSIPPI                      64-0440887
            (State of other jurisdiction of        (IRS Employer
              incorporation or organization)       Identification No.)

                            18 Mountain Laurel Drive
                            Littleton, Colorado 80127
                     (Address of Principal Executive Office)

        Registrant's telephone number including area code: (303) 637 2351

Former name,  former  address,  and former  fiscal year,  if changed  since last
report: NONE.

Indicate by check mark whether the registrant (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  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [ X ] No [ ]

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock as of the latest practicable date.

CLASS                                       Outstanding at November 20, 2000
Common Stock, $1.00 par value                        28,360,346



<PAGE>




                               ETHIKA CORPORATION

                                      INDEX

PART I:  FINANCIAL INFORMATION

Item 1. Financial Statements

     Consolidated balance sheets-September 30, 2000
       and December 31, 1999                                               F-3

     Consolidated  statements of operations for the
       nine months ended  September 30, 2000 and 1999                      F-4

     Consolidated  statements of cash flows for the
       nine months ended  September 30, 2000 and 1999                      F-5

     Notes to consolidated financial statements                            F-6

Item 2. Management's  Discussion and Analysis of Financial
          Condition and Results of Operations                                8

PART II. OTHER INFORMATION

Item 6. Exhibits and Reports of Form 8-K                                     8

Signatures                                                                   9




<PAGE>



            Review Report of Independent Certified Public Accountants



Board of Directors
Ethika Corporation

We have reviewed the  accompanying  balance sheet of Ethika  Corporation,  as of
September 30, 2000,  and the related  statements of operations for the three and
nine  month  periods  then ended and  statement  of cash flow for the nine month
period ended  September 30, 2000, in accordance with Statements of Standards for
Accounting  and Review  Services  issued by the American  Institute of Certified
Public Accountants.  All information  included in these financial  statements is
the representation of Ethika Corporation.

A review of interim financial  statements  consists  principally of inquiries of
Company personnel  responsible for financial  matters and analytical  procedures
applied  to  financial  data.  It is  substantially  less in scope than an audit
conducted  in  accordance  with  generally  accepted  auditing  standards,   the
objective  of which is the  expression  of an opinion  regarding  the  financial
statements taken as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the  accompanying  financial  statements  in order  for them to be in
conformity with generally accepted accounting principles.



Miller and McCollom, CPA's
Lakewood, Colorado

November 20, 2000






                                       F-2


<PAGE>





                               ETHIKA CORPORATION
                                  Balance Sheet


<TABLE>
<CAPTION>
                                                   September 30, 2000
                                                    (Unaudited)                    December 31, 1999
                                               -------------------------    --------------------------

<S>                                                           <C>                           <C>
Cash and cash equivalents                                     $ 20,667                      $ 21,922
Note receivable                                                      -                        69,515
Investment securities - trading                                 17,330                        48,523
                                               -------------------------    --------------------------
Total current assets                                            37,997                       139,960
                                               -------------------------    --------------------------
Total assets                                                  $ 37,997                     $ 139,960
                                               =========================    ==========================

Accounts payable and accrued expenses                         $ 24,379                      $ 30,793
                                               -------------------------    --------------------------

Common stock                                                28,511,458                    28,511,458
Discount on common stock                                   (16,166,028)                  (16,166,028)
Accumulated deficit                                        (12,330,655)                  (12,235,151)
                                               -------------------------    --------------------------

                                                                14,775                       110,279
Less:  treasury stock                                           (1,157)                       (1,112)
                                               -------------------------    --------------------------

Total stockholders' equity                                      13,618                       109,167
                                               -------------------------    --------------------------

Total liabilities and stockholders' equity                    $ 37,997                     $ 139,960
                                               =========================    ==========================
</TABLE>



                                       F-3


<PAGE>


                               ETHIKA CORPORATION

                             Statement of Operations
                                   (Unaudited)


<TABLE>
<CAPTION>


                                                        Three Months Ended September 30,                Nine Months Ended
                                                                                                          September 30,
                                                      -------------------------------------    ------------------------------------
                                                            2000                1999               2000                1999
                                                      -----------------    ----------------    --------------    ------------------
<S>                                                         <C>                 <C>               <C>                   <C>
General and administrative expenses                         $ (16,902)          $ (20,512)        $ (50,851)            $ (65,461)
Lawsuit settlement                                                  -                   -                 -              (200,000)
Loss on disposition of leases                                 (16,000)                  -           (16,000)                    -
Royalty income                                                      -               7,244                 -                 7,244
Interest income                                                   359                   -             2,543                 7,562
Gain (loss) on disposal of fixed assets                             -                   -           (31,194)                    -
Gain (loss) from investment securities                              -               2,275                 -                29,484
                                                      -----------------    ----------------    --------------    ------------------
                                                      -----------------    ----------------    --------------    ------------------

Loss from operations                                          (32,543)            (11,053)         (95,502)              (221,171)
                                                      -----------------    ----------------    --------------    ------------------
                                                      -----------------    ----------------    --------------    ------------------

Net loss                                                    $ (32,543)         $ (11,053)         $ (95,502)           $ (221,171)
                                                      =================    ================    ==============    ==================
                                                      =================    ================    ==============    ==================

Basic and diluted earnings per share                         $ (0.002)           $ (0.001)         $ (0.003)             $ (0.009)
                                                      =================    ================    ==============    ==================

</TABLE>




                                       F-4


<PAGE>


                               ETHIKA CORPORATION

                             Statement of Cash Flows
                                   (Unaudited)



<TABLE>
<CAPTION>

                                                      Nine Months Ended September 30,
                                                   -----------------------------------------
                                                        2000                    1999
                                                   -------------------   -------------------
Cash flows from operating activities
<S>                                                       <C>                   <C>
Net loss                                                  $ (95,502)            $ (221,117)

Adjustment to reconcile net (loss) to
   net cash provided by operating activities
Increase in accounts receivable                                    -                (7,244)
(Gain) loss on investments                                    31,194               (29,484)
Sales of investment securities - trading                           -               100,000
(Decrease) in accounts payable                                (6,414)              (10,999)
Loss on disposition of leases                                 16,000                     -
Sale of investment securities                                      -                80,000
                                                   -------------------   -------------------

Net cash (used by) operating activities                     (54,722)               (88,844)
                                                   -------------------   -------------------
Cash flows from investing activities
Payment received from leases
Payment received on notes receivable                          53,512                52,421
                                                   -------------------   -------------------
Net cash provided by investing activities                     53,512                52,421
                                                   -------------------   -------------------
Cash flows from financing activities
Purchase of treasury stock                                      (45)                     -
                                                   -------------------   -------------------
Net cash (used by) financing activities                         (45)                     -
                                                   -------------------   -------------------
Net (decrease) in cash and cash equivalents                  (1,255)               (36,423)

Cash and cash equivalents-beginning of period                 21,922                48,318
                                                   -------------------   -------------------
Cash and cash equivalents-end of period                     $ 20,667              $ 11,895
                                                   ===================   ===================
Supplemental cash flow information
Cash paid for interest                                      $      -                $    -
                                                   ===================   ===================
</TABLE>



                                       F-5


<PAGE>





                               ETHIKA CORPORATION

              Notes to Unaudited Consolidated Financial Statements
                  For the Nine Months Ended September 30, 2000

Nature of Operations

Ethika Corporation (the  "Corporation") has no present operations other than the
holding of certain assets.  The Corporation is seeking a privately held business
with whom it can reorganize so as to take advantage of the Corporation's  status
as publicly held corporation.

Basis of Presentation

The un-audited financial statements contain all adjustments considered necessary
by Management to make the financial statements not misleading.

Note Receivable

During 1995, the Corporation  entered into leasing  activities  which consist of
the leasing of fry cook units to be placed in various  locations and operated by
the lessee.  On March 12, 1999, the  Corporation  entered into an agreement with
the Parent  Corporation  of the lessee,  whereby the  Corporation  assigned  its
leases to the Parent  Corporation for a non-interest  bearing promissory note in
the amount of  $128,000  plus a $12,000  cash  payment.  The note  provides  for
sixteen  monthly  installments  of  $8,000  beginning  on April  15,  1999.  The
Corporation  recorded the note at present value at $144,198 imputing interest at
8.00%.  The Corporation  recognized a loss of $27,292 on this  transaction.  The
final payment was received in July, 2000.

Lawsuit Settlement

On  September  20,  1998,  the  Registrant  was  served  with the Third  Amended
Complaint in an action entitled  Jeffrey Allard,  et al v. Kidztime TV, Inc., et
al in Colorado District Court, Jefferson County,  Colorado. On July 6, 1999, the
Registrant  entered  into and closed a settlement  agreement  on its  previously
disclosed Legal Proceedings of Jeffrey Allard, et al v. Kidztime TV, Inc., et al
in Colorado District Court, Jefferson County,  Colorado. The settlement releases
all of the  plaintiff's  claims against the Registrant and any potential  claims
against the Registrant's management.  The terms of the offer were the payment of
$100,000 and the issuance of 5,000,000  shares of restricted  common stock.  The
legal proceedings are to be dismissed with prejudice.

Going Concern

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue as a going  concern.  For the twelve  month period ended
December 31, 1999,  the Company  incurred a loss from  operations of $99,963 and
had an accumulated  deficit of $12,235,151 that raises  substantial  doubt about
its ability to continue as a going  concern.  An additional  loss of $95,502 was
incurred for the nine months ending September 30, 2000.

                                       F-6


<PAGE>




                               ETHIKA CORPORATION

              Notes to Unaudited Consolidated Financial Statements
                  For the Nine Months Ended September 30, 2000


Recent Accounting Pronouncements

In June of 1998,  the FASB issued  Statement  of  Accounting  Standards  No. 133
("SFAS 133"),  "Accounting for Derivative  Instruments and Hedging  Activities."
SFAS  133  establishes   accounting  and  reporting   standards  for  derivative
instruments,   including  certain  derivative   instruments  embedded  in  other
contracts, and for hedging activities.  It requires that an entity recognize all
derivatives as either assets or liabilities on the balance sheet at their value.
This  statement,  as amended by SFAS 137, is effective for financial  statements
for all fiscal  quarters to all fiscal years  beginning after June 15, 2000. The
Company does not expect the adoption of this standards to have a material impact
on its results of operations,  financial  position or cash flows, as the Company
currently does not engage in any derivative or hedging activities.

                                       F-7


<PAGE>




Item 2 - Management's Plan of Operations

The Registrant did not have any revenue from  operations  during the fiscal year
ended  December 31, 1999 nor during the current  fiscal year.  The  accompanying
financial  statements have been prepared assuming that the Company will continue
as a going  concern.  Having  investment  income as its only  source of  income,
raises substantial doubt about the ability of the Company to continue as a going
concern.

The  Registrant's  plan of operations is seek out a privately held business with
whom the Registrant  can reorganize so as to take advantage of the  Registrant's
status as a publicly held  corporation.  In order to facilitate  this objective,
the Registrant  held a  Shareholder's  Meeting in June 1999 and adopted  certain
measures  to  facilitate  a   reorganization.   The  measures  approved  by  the
Shareholders  authorized  the Board of Directors to take the  following  actions
pursuant to a reorganization of the Registrant:

1.   Increase the size of the Board of  Directors to seven  members 2. Amend the
     Articles of  Incorporation to Change the Name of the Corporation 3. Declare
     a reverse split of up to 50 to 1.

As of the date of this  report,  Management  has entered into a letter of intent
with Tradequest Inc., a Utah corporation  engaged in the business of providing a
barter exchange for goods and services for business and consumers. The principal
terms of the proposed  reorganization  are that the Registrant  will declare the
reverse split of 50 to 1, change its name to Tradequest  International  Inc. and
issue 2,000,000 post split shares to the shareholders of Tradequest.  At closing
the current board of directors is to resign and three  nominees of Tradequest be
appointed to the board of directors. Closing of the reorganization is subject to
certain conditions including payment of the Registrant's  outstanding  liability
of approximately  $25,000,  the purchase and cancellation of 5,000,000 currently
outstanding  shares of the  Registrant's  common  stock and the  execution of an
Indemnity  Agreement by the  Registrant's  principal  shareholder,  Fond Mondial
D'Investissement  which will indemnify  Tradequest against any and all potential
liabilities of Ethika which may arise due to facts and  circumstances  occurring
over the past two years.

Execution  and  closing  of a  definitive  reorganization  agreement  cannot  be
assured. In the event the Tradequest  reorganization is not executed and closed,
the  Registrant  will return to its  business  plan of seeking a  reorganization
candidate.

Liquidity and Capital Resources

The Registrant  has reduced its overhead  expenses to  approximately  $6,000 per
month and is paying $1,000 per month  against its account  payable to its former
auditor.  The  Registrant  received  $8,000  per  month in  payment  of its note
receivable  from Alanco  Environmental  Resources  Corporation  and received its
final payment in July,  2000.  Management  anticipates  having  sufficient  cash
resources for its reduced  operations for the balance of the current fiscal year
primarily through deferral of further executive compensation.

In September,  2000 the Registrant received a royalty payment of $xxxx from Text
Retrieval Systems, Inc., pursuant to the Registrant's February, 1998 sale of its
former subsidiary. The royalty payment is on each subscription of Text Retrieval
Systems,  Inc.'s HR Comply  product and will  continue  until such time that the
Registrant has been paid a total of $1,500,000.


Part II Other Information:

Item 6 - Exhibits and Reports on 8K

     Exhibits: (27) Financial Data Schedule

(b) none


                                       8
<PAGE>
SIGNATURES

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

Ethika Corporation
(Registrant)


/s/Dennis Brovarone
-------------------
President
Date: November 20, 2000






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