UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   Form 10-KSB

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(Mark one)

     X       ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
-----------  ACT OF 1934

                 For the annual period ended April 30, 2001

             TRANSITION  REPORT  UNDER  SECTION  13  OR 15(d)  OF THE SECURITIES
-----------  EXCHANGE ACT OF 1934

                 For the transition period from ____________

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                         Commission File Number: 0-9483
                                                 ------

                            Tomahawk Industries, Inc.
                            -------------------------
        (Exact name of small business issuer as specified in its charter)

           Nevada                                            95-3502207
----------------------------                        ----------------------------
  (State of incorporation)                             (IRS Employer ID Number)

                   211 West Wall Street, Midland, Texas 79701
                    (Address of principal executive offices)

                                 (915) 682,1761
                           (Issuer's telephone number)

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      Securities registered under Section 12 (b) of the Exchange Act: None

         Securities registered under Section 12(g) of the Exchange Act:
                          Common Stock $.001 par value

Check  whether  the issuer  has (1) filed all  reports  required  to be files by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period the Company was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X  No
                                                             ---   ---

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure  will be contained,  to
the best of Company'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. [ ]

The issuer's revenues for the fiscal year ended April 30, 2001, was $-0-.

As of June 7, 2001,  the aggregate  market value of the  Company's  common Stock
held by nonaffiliates was $5,794,297.

As of June 7, 2001,  there were  166,373,094  shares of Common  Stock issued and
outstanding.

Transitional Small Business Disclosure Format : Yes    No  X
                                                   ---    ---



                                                                               1
<PAGE>

                                TABLE OF CONTENTS



                                                                            Page
                                                                            ----
Part I

Item 1.  Description of Business                                              3
Item 2.  Description of Property                                              5
Item 3.  Legal Proceedings                                                    3
Item 4.  Submission of Matters to a Vote of Security Holders                  5

Part II

Item 5.  Market for Company's Common Stock and Related Stockholders Matters   5
Item 6.  Management's Discussion and Analysis or Plan of Operation            5
Item 7.  Index to Financial Statements                                       F-1
Item 8.  Changes in and Disagreements with Accountants
           on Accounting and Financial Disclosures                            9

Part III

Item 9   Officers and Directors                                               9
Item 10. Executive Compensation                                              10
Item 11. Security Ownership of Certain Beneficial Owners and Management      10
Item 12. Certain Relationships and Related Transactions                      11
Item 13. Exhibits and Reports on 8-K                                         11

Signatures                                                                   11



                                                                               2

<PAGE>

                  Caution Regarding Forward-Looking Information

This annual report contains certain  forward-looking  statements and information
relating  to the  Company  that  are  based on the  beliefs  of the  Company  or
management as well as assumptions made by and information currently available to
the Company or management.  When used in this document,  the words "anticipate",
"believe",  "estimate",  "expect" and "intend" and similar expressions,  as they
relate  to  the   Company  or  its   management,   are   intended   to  identify
forward-looking  statements.  Such  statements  reflect the current  view of the
Company regarding future events and are subject to certain risks,  uncertainties
and assumptions, including the risks and uncertainties noted. Should one or more
of these risks or uncertainties  materialize,  or should underlying  assumptions
prove incorrect,  actual results may vary materially from those described herein
as anticipated,  believed,  estimated,  expected or intended.  In each instance,
forward-looking  information  should be considered in light of the  accompanying
meaningful cautionary statements herein.

Part I

Item 1.  Description of Business

Tomahawk  Industries,  Inc.,  formerly  Tomahawk Oil and Minerals,  Inc.,  ("the
Company") was incorporated  under the laws of Nevada on May 13, 1980 and filed a
Form S-2 on September  19,  1980.  From  inception  through 1988 the Company was
engaged in oil and gas  exploration.  Beginning in 1984 the Company  entered the
business of installing energy recovery and energy savings devices through a then
wholly-owned  subsidiary.  In July 1987, the Company filed for protection  under
Chapter 11 of the U.S. Bankruptcy Code and operated as debtor-in-possession. The
petition  for  bankruptcy  protection  was  denied  and the  Company  ceased all
operations and abandoned all net assets remaining by April 30, 1988.

The Company has effectively had no operations,  assets or liabilities  since its
fiscal year ending April 30, 1988.

The Company intends to seek to complete a business acquisition transaction.

The Company may be referred  to as a trading and  reporting  shell  corporation.
Shell  corporations  have zero or  nominal  assets  and  typically  no stated or
contingent liabilities. Private companies wishing to become publicly trading may
wish to merge with a shell (a reverse  merger)  whereby the  shareholders of the
private Company become the majority of the shareholders of the combined Company.
The private  Company may  purchase for cash all or a portion of the common share
of the shell corporation from its major stockholders.  Typically,  the Board and
officers  of the  private  Company  become  the new  Board and  officers  of the
combined  Company and often the name of the private  Company becomes the name of
the combined Company.

The Company has very limited  capital,  and it is unlikely that the Company will
be able to take  advantage  of more  than one  such  business  opportunity.  The
Company intends to seek  opportunities  demonstrating the potential of long-term
growth as opposed to short-term  earnings.  At the present time, the Company has
not identified  any business  opportunity  that it plans to pursue,  nor has the
Company  reached  any  agreement  or  definitive  understanding  with any person
concerning an acquisition.

It is  anticipated  that the  Company's  officers  and  directors  will  contact
broker-dealers  and other persons with whom they are acquainted who are involved
with corporate finance matters to advise them of the Company's  existence and to
determine if any  companies or  businesses  that they  represent  have a general
interest in considering a merger or acquisition with a blind pool or blank check
or shell  entity.  No assurance can be given that the Company will be successful
in finding or  acquiring a  desirable  business  opportunity,  given the limited
funds that are  expected  to be  available  for  acquisitions.  Furthermore,  no
assurance can be given that any acquisition,  which does occur, will be on terms
that are favorable to the Company or its current stockholders.

The Company's search will be directed toward small and medium-sized enterprises,
which have a desire to become public corporations. In addition these enterprises
may wish to satisfy,  either  currently or in the  reasonably  near future,  the
minimum  tangible  asset  requirement  in order to qualify shares for trading on
NASDAQ or on an  exchange  such as the  American  Stock  Exchange.  The  Company
anticipates that the business  opportunities  presented to it will (i) either be
in the process of formation,  or be recently  organized  with limited  operating
history

                                                                               3

<PAGE>



or a history of losses  attributable to  under-capitalization  or other factors;
(ii) experiencing financial or operating difficulties; (iii) be in need of funds
to develop new  products  or  services  or to expand into a new market,  or have
plans for rapid expansion through acquisition of competing  businesses;  (iv) or
other  similar   characteristics.   The  Company   intends  to  concentrate  its
acquisition  efforts  on  properties  or  businesses  that  it  believes  to  be
undervalued  or that it believes  may realize a  substantial  benefit from being
publicly  owned.  Given the above  factors,  investors  should  expect  that any
acquisition  candidate may have little or no operating history,  or a history of
losses or low profitability.

The Company does not propose to restrict its search for investment opportunities
to any particular  geographical area or industry, and may, therefore,  engage in
essentially any business, to the extent of its limited resources.  This included
industries such as service,  finance,  natural  resources,  manufacturing,  high
technology,  product  development,   medical,  communications  and  others.  The
Company's discretion in the selection of business opportunities is unrestricted,
subject to the  availability of such  opportunities,  economic  conditions,  and
other factors.

Any  entity,  which has an interest in being  acquired  by, or merging  into the
Company, is expected to be an entity that desires to become a public Company and
establish a public trading market for its securities.  In connection with such a
merger or acquisition,  it is highly likely that an amount of stock constituting
control of the Company  would  either be issued by the  Company or be  purchased
from the current  principal  stockholders of the Company by the acquiring entity
or  its   affiliates.   If  stock  is  purchased  from  the  current   principal
stockholders,  the transaction is very likely to be a private transaction rather
than a public  distribution  of  securities,  but is also  likely  to  result in
substantial  gains  to the  current  principal  stockholders  relative  to their
purchase price for such stock. In the Company's  judgment,  none of the officers
and directors  would  thereby  become an  underwriter  within the meaning of the
Section  2(11)  of the  Securities  Act of  1933,  as  amended  as  long  as the
transaction  is a  private  transaction  rather  than a public  distribution  of
securities. The sale of a controlling interest by certain principal shareholders
of the Company  would occur at a time when minority  stockholders  are unable to
sell their shares because of the lack of a public market for such shares.

Depending upon the nature of the transaction, the current officers and directors
of the Company may resign their  management and board positions with the Company
in connection with a change of control or acquisition of a business opportunity.
In the event of such a  resignation,  the  Company's  current  management  would
thereafter have no control over the conduct of the Company's business.

It is  anticipated  that  business  opportunities  will  come  to the  Company's
attention from various sources,  including its officers and directors, its other
stockholders,   professional   advisors  such  as  attorneys  and   accountants,
securities  broker-dealers,   venture  capitalists,  members  of  the  financial
community,  and others who may present unsolicited proposals. The Company has no
plans,  understandings,  agreements, or commitments with any individual for such
person to act as a finder of opportunities for the Company.

The  Company  does not foresee  that it will enter into a merger or  acquisition
transaction with any business with which its officers or directors are currently
affiliated. Should the Company determine in the future, contrary to the forgoing
expectations,  that a  transaction  with  an  affiliate  would  be in  the  best
interests  of the  Company  and its  stockholders,  the  Company is, in general,
permitted by Nevada law to enter into a transaction if:

         The material facts as to the  relationship or interest of the affiliate
         and as to the contract or transaction are disclosed or are known to the
         Board of Directors, and the Board in good faith authorizes, approves or
         ratifies  the  contract or  transaction  by the  affirmative  vote of a
         majority of the disinterested directors,  even though the disinterested
         directors constitute less than a quorum; or

         The material facts as to the  relationship or interest of the affiliate
         and as to the contract or transaction are disclosed or are known to the
         stockholders  entitled to vote thereon, and the contract or transaction
         is specifically authorized,  approved or ratified in good faith by vote
         of the  stockholders;  or the contract or transaction is fair as to the
         Company as of the time it is authorized,  approved or ratified,  by the
         Board of Directors or the stockholders.


                                                                               4

<PAGE>

Item 2.  Description of Property

The Company has no property  and  currently  maintains a mailing  address at 211
West Wall,  Midland,  Texas 79701. The Company's telephone number there is (915)
682-1761.  Other than this  mailing  address,  the  Company  does not  currently
maintain  any other  office  facilities,  and does not  anticipate  the need for
maintaining office facilities at any time in the foreseeable future. The Company
pays no rent or other fees for the use of the  mailing  address or use of office
facilities.


Item 3.  Legal Proceedings

The  Company  is not a  party  to any  pending  legal  proceedings,  and no such
proceedings are known to be contemplated.


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

There was no  shareholder  meeting and no matters were submitted to the security
holders for a vote during the fiscal year ended April 30, 2001.



Part II

Item 5.  Market for Company's Common Stock and Related Stockholder Matters

The  Company's  common  stock has been  approved for trading on the OTC Bulletin
Board.  The first trade of the Company's stock occurred on or about May 3, 2001.
The Company is of the opinion that any published  prices cannot be attributed to
a liquid and active  trading  market and,  therefore,  are not indicative of any
meaningful market value.

The following  table sets forth  information  about the  Company's  common stock
since it's listing for trading:

              Period                     Low             High
            -----------                  ---             ----
            Fiscal 2002
            -----------
           1st Quarter (1)              $0.035          $0.050

(1)    through June 7, 2001.

Since its inception,  no dividends have been paid on the Company's common stock.
The Company  intends to retain any earnings for use in its business  activities,
so it is not  expected  that any  dividends on the common stock will be declared
and paid in the foreseeable future.

As of June 7, 2001,  there  were  166,373,094  shares of $.001 par value  common
stock (the "Common Stock") of the Company outstanding and owned by approximately
5,300 shareholders of record.

Common Stock Transactions

None

                                                                               5

<PAGE>

Item 6.  Management's Discussion and Analysis or Plan of Operation

The current  management  group intends to actively to seek,  investigate and, if
warranted,  acquire  an  interest  in  one or  more  business  opportunities  or
ventures.  As of the  date  hereof,  the  Company  has  divested  itself  of all
operating   assets  and  has  no  business   opportunities   or  ventures  under
contemplation   for   acquisition   but   proposes  to   investigate   potential
opportunities in the form of investors or entrepreneurs with a concept which has
not yet been placed in operation,  or in the form of firms which are  developing
companies in need of limited additional funds for expansion into new products or
services, and which are seeking to develop a new product or service. The Company
may also seek out established  businesses which may be experiencing financial or
operational  difficulties and are in need of the limited  additional capital the
Company could provide.  The Company  anticipates that it will seek to merge with
an  existing  business.  After the  merger,  the  surviving  entity  will be the
Company;  however,  management  from the acquired  entity will in all likelihood
operate the Company.  There is, however,  a remote  possibility that the Company
may seek to acquire and operate an ongoing business,  in which case the existing
management  might be  retained.  Due to the  absence  of capital  available  for
investment by the Company, the types of businesses seeking to be acquired by the
Company  will no  doubt be  smaller  and  higher  risks  of  businesses.  In all
likelihood,  a business  opportunity  will involve the  acquisition of or merger
with a  corporation  which does not need  additional  cash but which  desires to
establish  a public  trading  market  for its  Common  Stock.  Accordingly,  the
Company's ability to acquire any business of substance may be extremely limited.

The Company  experienced a change in control due a change in  management  due to
appointments to the Board of Directors and subsequent  election of officers.  It
is the intent of management to continue seeking a suitable  situation for merger
or acquisition.

Further,   the  Company  is  dependent  upon   management   and/or   significant
shareholders to provide  sufficient working capital to preserve the integrity of
the  corporate  entity  during this phase.  It is the intent of  management  and
significant  shareholders to provide  sufficient  working  capital  necessary to
support and preserve the integrity of the corporate entity.

Operation of the Company

The Company  intends to search  throughout the United States,  Canada and Europe
for a  merger/acquisition  candidate,  however,  because of lack of capital, the
Company  believes  that  the  merger/acquisition  candidate  will be  conducting
business within a limited geographical area. In the event of a consummation of a
merger or acquisition with a suitable candidate,  it is highly probable that the
Company's  principal  offices will be  relocated  to the existing  office of the
merger or  acquisition  candidate.  Further the Company may also have offices at
such other places as the Board of Directors  may from time to time  determine or
the future  business,  subsequent to the consummation of a merger or acquisition
of the Company may require.

The Officers and Directors will  personally seek  acquisition/merger  candidates
and/or orally contact individuals or broker(s)/dealer(s)  and advise them of the
availability  of the Company as an  acquisition  candidate.  The  Officers  will
review material furnished them by the proposed merger/acquisition  candidate and
decide if a  merger/acquisition  is in the best interests of the Company and its
shareholders.  The  proposed  merger/acquisition  will then be  submitted to all
stockholders for approval if required by Nevada statue.

The Company may also employ outside  consultants,  however,  no such consultants
will be engaged  until a  merger/acquisition  candidate has been targeted by the
Company.  Management  believes  that it is  impossible  to consider the specific
criteria that will be used to hire consultants; however, several of the criteria
may include the consultant's  relevant experience,  the services to be provided,
the term of service  required  by the  Company.  Management  cannot  predict the
probability that management will recommend any specific consultant(s) for future
use. As of the filing of this document,  the Company has not had any discussions
with or executed agreements with any outside consultants.

Other than  disclosed  herein,  there are no other plans for  accomplishing  the
business purpose of the Company.

                                                                               6

<PAGE>

Selection of Opportunities

The analysis of new business  opportunities  will be  undertaken by or under the
supervision  of the  Officers and  Directors  of the Company,  none of whom is a
professional  business  analyst  and have  limited  training  or  experience  in
business analysis. Inasmuch as the Company will have no funds available to it in
its search for business opportunities and ventures, the Company will not be able
to expend  significant funds on a complete and exhaustive  investigation of such
business  opportunity.  The Company will,  however,  investigate,  to the extent
believed  reasonable by Management,  such potential  business  opportunities  or
ventures.

As a part of the  Company's  investigation,  the Officers and Directors may meet
personally with management and key personnel of the firm sponsoring the business
opportunity,  may visit and inspect plants and  facilities,  obtain  independent
analysis or verification of certain  information  provided,  check references of
management and key personnel, and conduct other reasonable arrangements,  to the
extent of the Company's limited financial resources and management and technical
expertise.

Prior to making a decision  to  recommend  to  shareholders  participation  in a
business  opportunity or venture,  the Company will generally request that it be
provided with written materials  regarding the business  opportunity  containing
such  items  as  a  description  of  products,  services  and  company  history;
management resumes;  financial  information;  available  projections with elated
assumptions upon which the projections were based; evidence of existing patents,
trademarks or service  marks or rights  thereto;  present and proposed  forms of
compensation  to  management;   a  description  of   transactions   between  the
prospective  entity and its affiliates during relevant periods; a description of
resent and required facilities; an analysis of risks and competitive conditions;
and, other information deemed relevant.

It is anticipated that the investigation of specific business  opportunities and
the  negotiation,  drafting,  and execution of relevant  agreements,  disclosure
documents and other  instruments  will require  substantial  management time and
attention and costs for accountants, attorneys and others. If a decision is made
not to participate in a specific  business  opportunity,  the costs  theretofore
incurred in the related  investigation  would not be  recoverable.  Furthermore,
even if an agreement  is reached for the  participation  in a specific  business
opportunity,  the failure to consummate that  transaction may result in the loss
to the Company of the costs incurred.

The  Company  will  have  unlimited  flexibility  in  seeking,   analyzing,  and
participating  in business  opportunities.  In its  efforts,  the  Company  will
consider the following kinds of factors:

     a)   Potential for growth, indicated by new technology,  anticipated market
          expansion or new products;

     b)   Competitive  position as  compared  to other firms  engaged in similar
          activities;

     c)   Strength of the merger/ acquisition candidate's management;

     d)   Capital  requirements  and anticipated  availability of required funds
          from future  operations,  through the sale of  additional  securities,
          through joint ventures or similar  arrangements or from other sources;
          and

     e)   Other relevant factors.

Potentially  available  business  opportunities  may  occur  in  many  different
industries and at various stages of development, all of which will make the task
of  comparative  investigation  and  analysis  of  such  business  opportunities
extremely difficult and complex.  Potential investors must recognize that due to
the Company's  limited  capital  available for  investigation  and  management's
limited  experience  in  business  analysis,  the  Company  may not  discover or
adequately evaluate adverse facts about the opportunity to be acquired.

The  Company  has not had any  substantive  conversations  and is not  currently
engaged in substantive  discussions  related to a proposed merger or acquisition
and,  further,  is unable to predict  when it may identify or  participate  in a
business  opportunity.  It  expects,  however,  that the  analysis  of  specific
proposals and the selection of a business opportunity may take several months or
more.


                                                                               7

<PAGE>

As of  April  30,  2001,  and  subsequently  through  the  date of this  filing,
management has not identified any entity in which a current officer, director or
significant  shareholder  has a  direct  or  indirect  ownership  interest  as a
potential merger or acquisition  candidate.  Existing corporate policy is silent
to this situation; however, it is the intent of management to seek candidates in
which current directors,  officers and/or  significant  shareholders do not have
direct or indirect ownership interests.

Further, the consummation of a merger or acquisition  transaction may or may not
involve  the sale of  shares  of  common  stock  currently  held by  members  of
management,  directors or  significant  shareholders.  The terms and  conditions
related to any potential  sale of these shares may or may not be made  available
to other minority or non- controlling existing shareholders of the Company.

Prior to the consummation of any merger or acquisition, the Company will request
the  approval  of the  existing  shareholders  if  required  by  Nevada  statue.
Accordingly,  all shareholders  will be provided with the pertinent  information
related to the  proposed  merger or  acquisition,  including  audited  financial
statements, concerning the proposed target company of the merger or acquisition.

Additionally,  the  Company  will be subject  to all  disclosure  and  reporting
requirements  of The  Securities  and Exchange  Commission,  including,  but not
limited to, the filing of a Form 8-K Current  Report for the  disclosure  of any
pending  merger  or  acquisition  and the  dissemination  of  audited  financial
statements of the merger or acquisition candidate upon consummation.

Form of Acquisition

The manner in which the Company  participates in an opportunity will depend upon
the nature of the  opportunity,  the respective needs and desires of the Company
and the promoters of the opportunity,  and the relative  negotiating strength of
the Company and such  promoters.  The exact form or structure  of the  Company's
participation  in a business  opportunity  or venture will be dependent upon the
needs of the particular situation. The Company's participation may be structured
as an asset  purchase,  a lease, a license,  a joint venture,  a partnership,  a
merger or the acquisition of securities.

As set forth  above,  the Company may  acquire its  participation  in a business
opportunity  through the  issuance of Common  Stock or other  securities  in the
Company.  Although the terms of any such  transaction  cannot be  predicted,  it
should be noted that,  in certain  circumstances,  the criteria for  determining
whether or not an  acquisition is a so-called  "tax free"  reorganization  under
Section  368(a)(1) of the Internal Revenue Code of 1976, as amended,  may depend
upon the issuance to the  shareholders of the acquired company of at least 80.0%
of  the  Common  Stock  of  the  combined  entities  immediately  following  the
reorganization.  If a transaction  were  structured  to take  advantage of these
provisions  rather than other "tax free" provisions  provided under the Internal
Revenue Code, all prior shareholders may, in such circumstances, retain 20.0% or
less of the total issued and  outstanding  Common  Stock.  If such a transaction
were  available  to the  Company,  it will be  necessary  to obtain  shareholder
approval to effectuate a reverse stock split or to authorize  additional  shares
of Common  Stock prior to  completing  such  acquisition.  This could  result in
substantial  additional dilution to the equity of those who were shareholders of
the Company prior to such  reorganization.  Further,  extreme  caution should be
exercised by any investor relying upon any tax benefits in light of any existing
tax laws or any proposed  changes  thereto.  It is possible that no tax benefits
will exist at all.  Prospective  investors,  if any,  should  consult  their own
legal, financial and other business advisors.

In conjunction with a merger with or acquisition of a  privately-owned  company,
there  exists a  probability  that a  change  in  control  will  occur  upon the
consummation of the merger or  acquisition.  In order to make such a transaction
feasible,  it is  highly  probable  that  management  will  offer a  controlling
interest in the Company to any identified merger or acquisition candidate.

The present management and the current  shareholders of the Company may not have
control  of a  majority  of  the  voting  shares  of  the  Company  following  a
reorganization transaction. As part of such a transaction,  all or a majority of
the Company's  Directors  may resign and new Directors may be appointed  without
any vote by shareholders.


                                                                               8

<PAGE>

Present  shareholders  have not agreed to vote their respective shares of Common
Stock in accordance with the vote of the majority of all  non-affiliated  future
shareholders of the Company with respect to any business combination.

Not an "Investment Advisor"

The Company is not an "investment advisor" under the Federal Investment Advisers
Act  of  1940,  which   classification   would  involve  a  number  of  negative
considerations.  Accordingly, the Company will not furnish or distribute advise,
counsel,  publications,  writings, analysis or reports to anyone relating to the
purchase or sale of any  securities  within the language,  meaning and intent of
Section 2(a)(11) of the Investment Advisers Act of 1940, 15USC 80b2(a)(11).

Not an "Investment Company"

The Company may become involved in a business  opportunity through purchasing or
exchanging  the  securities  of such  business.  The  Company  does not  intend,
however,  to engage  primarily in such  activities  and is not  registered as an
"investment  company"  under the Federal  Investment  Company  Act of 1940.  The
Company believes such registration is not required.

The Company must conduct its  activities so as to avoid  becoming  inadvertently
classified  as a transient  "investment  company"  under the Federal  Investment
Company Act of 1940, which  classification would affect the Company adversely in
a number of respects.  Section 3(a) of the  Investment  Company Act provides the
definition of an  "investment  company"  which excludes an entity which does not
engage  primarily  in the  business  of  investing,  reinvesting  or  trading in
securities,  or which  does not engage in the  business  of  investing,  owning,
holding or trading  "investment  securities"  (defined as "all securities  other
than  United  States  government  securities  or  securities  of  majority-owned
subsidiaries")  the value of which  exceeds  forty  (40.0%)  of the value of its
total assets (excluding government securities,  cash or cash items). The Company
intends to  implement  its  business  plan in a manner  which will result in the
availability of this exemption from the definition of "investment company".  The
Company proposes to engage solely in seeking an interest in one or more business
opportunities or ventures.

Effective January 14, 1981, the U. S. Securities and Exchange Commission adopted
Rule  3a-2  which  deems  that an  issuer  is not  engaged  in the  business  of
investing, reinvesting, owning, holding or trading in securities for purposes of
Section  3(a)(1),  cited above,  if,  during a period of time not  exceeding one
year, the issuer has a bona fide intent to be engaged  primarily,  or as soon as
reasonably  possible  (in any event by the  termination  of a one year period of
time), in a business other that of investing,  reinvesting,  owning,  holding or
trading in  securities  and such intent is evidenced by the  Company's  business
activities and  appropriate  resolution of the Company's Board of Directors duly
adopted and duly recorded in the minute book of the Company. The Rule 3a-2 "safe
harbor" may not be relied on more than a single  time.  The  Company  expects to
have invested or committed  all, or  substantially  all, of the proceeds of this
public  offering  in  the  investigation   and/or   acquisition  of  a  business
opportunity  acquisition  within a year after  completion  of the  offering  and
thereafter to not encounter the  possibility of being  classified as a transient
investment company.


Item 7.  Index to Financial Statements

The  required  accompanying  financial  statements  begin  on  page  F-1 of this
document.


Item  8.  Changes  in and  Disagreements  with  Accountants  on  Accounting  and
          Financial Disclosures

None


                                                                               9

<PAGE>

Part III

Item 9.  Officers and Directors

The directors and executive officers serving the Company are as follows:

    Name                           Age            Position Held and Tenure
    ----                           ---            ------------------------

Glenn A. Little                    48                President, Director
Matthew Blair                      44           Secretary, Treasurer Director

The  directors  named  above will  serve  until the next  annual  meeting of the
Company's  stockholders  or until  their  successors  are duly  elected and have
qualified.   Directors  will  be  elected  for  one-year  terms  at  the  annual
stockholders meeting.  Officers will hold their positions at the pleasure of the
board of directors,  absent any  employment  agreement,  of which none currently
exists or is contemplated.  There is no arrangement or understanding between any
of the  directors  or officers of the Company and any other  person  pursuant to
which any director or officer was or is to be selected as a director or officer,
and there is no arrangement,  plan or understanding as to whether non-management
shareholders  will exercise their voting rights to continue to elect the current
directors to the Company's board. There are also no arrangements,  agreements or
understandings  between   non-management   shareholders  that  may  directly  or
indirectly participate in or influence the management of the Company's affairs.

The directors and officers will devote their time to the Company's affairs on an
as needed  basis,  which,  depending  on the  circumstances,  could amount to as
little as two hours per month, or more than forty hours per month, but more than
likely will fall  within the range of five to ten hours per month.  There are no
agreements  or  understandings  for any  officer  or  director  to resign at the
request of another  person,  and none of the officers or directors are acting on
behalf of, or will act at the direction of, any other person.

Biographical Information

Glenn A.  Little,  is a  graduate  of The  University  of  Florida,  Gainesville
(Bachelor  of Science in  Business  Administration)  and the  American  Graduate
School of International  Management  (Master  International  Management) and has
been the  principal  of Little and  Company  Investment  Securities  (LITCO),  a
Securities  Broker/Dealer with offices in Midland,  Texas since 1979. Mr. Little
currently serves as an officer of other inactive public  corporations having the
same business purpose as the Company.

Before founding LITCO Mr. Little was a stockbroker with Howard,  Weil, Labouisse
Friedrich in New Orleans and Midland and worked for the First  National  Bank of
Commerce in New Orleans, Louisiana.

Matthew Blair was formerly a solo  practitioner of law in Midland,  Texas and is
presently  a Title IV-D  Master in Midland  County  Texas.  Before  opening  his
practice  he served in the Legal  Department  of the Federal  Deposit  Insurance
Corporation  (FDIC),  Midland,  Texas  where he  gained  exposure  to  corporate
structures and debt workouts.  His employment  before the FDIC  appointment  was
with Texas American Energy and Exxon Corporation.  Mr. Blair received a Bachelor
of Arts in  Government  from The  University of Texas at Austin (1975) and Juris
Doctor from Texas Tech University  School of Law (1979). He is licensed in every
state court in Texas,  United  States  District  Court (Texas) and in The United
States Supreme Court.

Item 10.  Executive Compensation

There was no  compensation  paid during any of the Fiscal  years ended April 30,
2001, 2000 or 1999, respectively.

None of the Company's current officers or directors receives or has received any
salary  from  Company  during the  preceding  five years.  The Company  does not
anticipate  entering  into  employment  agreements  with any of its  officers or
directors in the near future.  Directors do not receive  compensation  for their
services as directors and are not reimbursed for expenses  incurred in attending
board meeting.


                                                                              10

<PAGE>

Item 11.  Security Ownership of Certain Beneficial Owners and Management

The following table sets forth, as of the date of this  Registration  Statement,
the  number of  shares of Common  Stock  owned of  record  and  beneficially  by
executive officers, directors and persons who hold 5% or more of the outstanding
Common Stock of the Company.  Also included are the shares held by all executive
officers and directors as a group.

                                                                  % of Class
      Name and address              Number of Shares          Beneficially Owned
      ----------------              ----------------          ------------------

Glenn A. Little                             0                       0.00%
211 West Wall
Midland, Texas 79701

Matthew Blair                               0                       0.00%
200 West Wall, Suite 104
Midland, Texas 79701

Robert S. Pitts
2034 Worchester Lane
Memphis, Tennessee 38134                8,399,000                   5.05%

O'Farrell Shoemaker
2200 Union Avenue
Memphis, Tennessee 38104               13,166,666                   7.91%

All Directors and                           0                       0.00%
Executive Officers (2 persons)


Item 12 - Certain Relationships and Related Transactions

None


Item 13 - Exhibits and Reports on Form 8-K

None



                                                                              11

<PAGE>


                                   SIGNATURES

In accord with Section 13 or 15(d) of the  Securities  Act of 1993,  as amended,
the Company  caused  this report to be signed on its behalf by the  undersigned,
thereto duly authorized.

                                                       Tomahawk Industries, Inc.

Dated: June 7, 2001                                          /s/ Glenn A. Little
       ------------                                          -------------------
                                                                 Glenn A. Little
                                                             President, Director
                                                     and Chief Executive Officer


In accordance with the Securities Exchange Act of 1934, as amended, this report
has been signed below by the following persons on behalf of the Company and in
the capacities and on the date as indicated.


Date: June 7, 2001                                           /s/ Glenn A. Little
      ------------                                           -------------------
                                                                 Glenn A. Little
                                                       Director, President, and
                                                         Chief Executive Officer


Date: June 7, 2001                                             /s/ Matthew Blair
      ------------                                             -----------------
                                                                   Matthew Blair
                                                                        Director


                                                                              12

<PAGE>


                                    TOMAHAWK
                                INDUSTRIES, INC.

                              Financial Statements
                                       and
                                Auditor's Report

                             April 30, 2001 and 2000





                               S. W. HATFIELD, CPA
                          certified public accountants

                      Use our past to assist your future sm


<PAGE>



                            Tomahawk Industries, Inc.

                                    Contents


                                                                     Page
                                                                     ----

Report of Independent Certified Public Accountants                    F-3

Financial Statements

   Balance Sheets
     as of April 30, 2001 and 2000                                    F-4

   Statements of Operations
     for the years ended April 30, 2001 and 2000                      F-5

   Statement of Changes in Shareholders' Equity
     for the years ended April 30, 2001 and 2000                      F-6

   Statements of Cash Flows
     for the years ended April 30, 2001 and 2000                      F-7

   Notes to Financial Statements                                      F-8







                                                                             F-2

<PAGE>


S. W. HATFIELD, CPA
certified public accountants

Member:    American Institute of Certified Public Accountants
               SEC Practice Section
               Information Technology Section
           Texas Society of Certified Public Accountants


               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
               --------------------------------------------------


Board of Directors and Stockholders
Tomahawk Industries, Inc.

We have audited the accompanying balance sheets of Tomahawk Industries,  Inc. (a
Nevada  corporation) as of April 30, 2001 and 2000 and the related statements of
operations and comprehensive  income,  changes in shareholders'  equity and cash
flows for the each of the two years then ended.  These financial  statements are
the responsibility of the Company's management. Our responsibility is to express
an opinion on these financial statements based on our audits.

We  conducted  our  audits  in  accordance  with  generally   accepted  auditing
standards.  Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the financial position of Tomahawk Industries, Inc. as of
April  30,  2001  and  2000  and  the  related   statements  of  operations  and
comprehensive  income,  changes in  shareholders'  equity and cash flows for the
each  of the two  years  then  ended,  in  conformity  with  generally  accepted
accounting principles.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note A to the
financial statements, the Company has no viable operations or significant assets
and is dependent upon  significant  shareholders to provide  sufficient  working
capital to maintain the integrity of the corporate entity.  These  circumstances
create  substantial  doubt  about the  Company's  ability to continue as a going
concern and are discussed in Note A. The financial statements do not contain any
adjustments that might result from the outcome of these uncertainties.



                                                             S. W. HATFIELD, CPA
Dallas, Texas
June 7, 2001


                      Use our past to assist your future sm

P. O. Box 820395                               9002 Green Oaks Circle, 2nd Floor
Dallas, Texas  75382-0395                               Dallas, Texas 75243-7212
214-342-9635 (voice)                                          (fax) 214-342-9601
800-244-0639                                                      SWHCPA@aol.com

                                      F-3

<PAGE>

                            Tomahawk Industries, Inc.
                                 Balance Sheets
                             April 30, 2001 and 2000


                                                         2001           2000
                                                     -----------    -----------
                                     ASSETS
                                     ------
Current assets
   Cash on hand and in bank                          $    2,418    $      --
                                                     -----------    -----------

   Total current assets                                   2,418           --
                                                     -----------    -----------

   Total Assets                                      $    2,418    $      --
                                                     ===========    ===========



                      LIABILITIES AND SHAREHOLDERS' EQUITY
                      ------------------------------------
Liabilities
   Current liabilities
     Accounts payable - trade                        $      --      $    37,878
     Advances from shareholder                            25,000           --
                                                     -----------    -----------

   Total current liabilities                              25,000         37,878
                                                     -----------    -----------


Commitments and contingencies


Shareholders' equity (deficit)
   Common stock - $0.001 par value
     200,000,000 shares authorized
     166,373,094 shares issued and
     outstanding,  respectively                          166,373        166,373
   Additional paid-in capital                          5,293,711      5,293,711
   Accumulated deficit                                (5,482,666)    (5,497,962)
                                                     -----------    -----------

   Total Shareholders' Equity (Deficit)                  (22,582)       (37,878)
                                                     -----------    -----------

   Total Liabilities and Shareholders' Equity        $     2,418    $      --
                                                     ===========    ===========



The accompanying notes are an integral part of these financial statements.
                                                                             F-4

<PAGE>

                            Tomahawk Industries, Inc.
                Statements of Operations and Comprehensive Income
                       Years ended April 30, 2001 and 2000


                                                       2001             2000
                                                 -------------    -------------

Revenues                                         $        --      $        --
                                                 -------------    -------------

Expenses
   General and administrative expenses                 (15,244)           1,200
                                                 -------------    -------------

     Total operating expenses                          (15,244)           1,200
                                                 -------------    -------------

Income (Loss) from operations                           15,244           (1,200)

Other Income (Expense)
   Interest income                                          52             --
                                                 -------------    -------------

Income (Loss) before provision for income taxes         15,296           (1,200)

Provision for income taxes                                --               --
                                                 -------------    -------------

Net Income (Loss)                                       15,296           (1,200)

Other Comprehensive Income                                --               --
                                                 -------------    -------------

Comprehensive Income (Loss)                      $      15,296    $      (1,200)
                                                 =============    =============

Earnings per share of common stock
   outstanding computed on net income
   (loss), principally from discontinued
     operations - basic and fully diluted                  nil              nil
                                                 =============    =============

Weighted-average number of shares
   outstanding - basic and fully diluted           166,373,094      166,373,094
                                                 =============    =============




The accompanying notes are an integral part of these financial statements.
                                                                             F-5

<PAGE>
<TABLE>
<CAPTION>


                            Tomahawk Industries, Inc.
                  Statement of Changes in Shareholders' Equity
                       Years ended April 30, 2001 and 2000


                                                     Additional
                                      Common Stock    paid-in     Accumulated
                          Shares         Amount       capital       deficit         Total
                        -----------   -----------   -----------   -----------    -----------
<S>                     <C>           <C>           <C>           <C>            <C>
Balances at
   May 1, 1999          166,373,094   $   166,373   $ 5,293,711   $(5,496,762)   $   (36,678)
                        -----------   -----------   -----------   -----------    -----------

Net loss for the year          --            --            --          (1,200)        (1,200)
                        -----------   -----------    -----------    -----------  -----------

Balances at
   April 30, 2000       166,373,094       166,373     5,293,711    (5,497,962)       (37,878)
                        -----------   -----------   -----------   -----------    -----------

Net loss for the year          --            --            --          15,296         15,296
                        -----------   -----------    -----------  -----------    -----------

Balances at
   April 30, 2001       166,373,094   $   166,373   $ 5,293,711   $(5,482,666)   $   (22,582)
                        ===========   ===========   ===========   ===========    ===========
</TABLE>

The accompanying notes are an integral part of these financial statements.
                                                                             F-6

<PAGE>

                            Tomahawk Industries, Inc.
                            Statements of Cash Flows
                       Years ended April 30, 2001 and 2000


                                                            2001        2000
                                                           --------    --------
Cash Flows from Operating Activities
   Net income (loss) for the period                        $ 15,296    $ (1,200)
   Adjustments to reconcile net loss
     to net cash provided by operating activities
       Increase (Decrease) in Accounts payable - trade      (37,878)      1,200
                                                           --------    --------

Net cash used in operating activities                       (22,582)       --
                                                           --------    --------


Cash Flows from Investing Activities                           --          --
                                                           --------    --------


Cash Flows from Financing Activities
   Advances from shareholder                                 25,000        --
                                                           --------    --------

Net cash provided by financing activities                    25,000        --
                                                           --------    --------


Increase (Decrease) in Cash                                   2,418        --

Cash at beginning of period                                    --          --
                                                           --------    --------

Cash at end of period                                      $  2,418    $   --
                                                           ========    ========


Supplemental Disclosure of Interest and Income Taxes Paid
     Interest paid for the year                            $   --      $   --
                                                           ========    ========
     Income taxes paid for the year                        $   --      $   --
                                                           ========    ========



The accompanying notes are an integral part of these financial statements.
                                                                             F-7

<PAGE>
                            Tomahawk Industries, Inc.

                          Notes to Financial Statements


Note A - Organization and Description of Business

Tomahawk Industries, Inc. (Company) was incorporated under the laws of the State
of Nevada on May 13, 1980.  From its  inception  through  1988,  the Company was
engaged in oil and gas  exploration.  Beginning in 1984, the Company entered the
business of installing  energy recovery and energy saving devices through a then
wholly- owned subsidiary.

In July 1987,  the Company  filed for  protection  under Chapter 11 of the U. S.
Bankruptcy Code and operated as a debtor-in-possession.  Subsequent thereto, the
petition  for  bankruptcy  protection  was  denied  and the  Company  ceased all
business operations and abandoned all net assets remaining by April 30, 1988.

The Company has effectively had no operations,  assets or liabilities  since its
fiscal year ended April 30, 1998.  Accordingly,  the Company is  dependent  upon
management and/or significant shareholders to provide sufficient working capital
to preserve the integrity of the corporate entity at this time. It is the intent
of management and significant shareholders to provide sufficient working capital
necessary to support and preserve the integrity of the corporate entity.

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.


Note B - Summary of Significant Accounting Policies

1.   Cash and cash equivalents
     -------------------------

     For  Statement of Cash Flows  purposes,  the Company  considers all cash on
     hand  and  in  banks,  including  accounts  in  book  overdraft  positions,
     certificates of deposit and other highly-liquid investments with maturities
     of three months or less, when purchased, to be cash and cash equivalents.

2.   Income Taxes
     ------------

     The Company uses the asset and liability  method of  accounting  for income
     taxes. At April 30, 2001 and 2000, respectively, the deferred tax asset and
     deferred tax liability accounts, as recorded when material to the financial
     statements,  are entirely the result of  temporary  differences.  Temporary
     differences   represent  differences  in  the  recognition  of  assets  and
     liabilities for tax and financial reporting purposes, primarily accumulated
     depreciation and amortization, allowance for doubtful accounts and vacation
     accruals.

     As of April 30,  2001 and 2000,  the  deferred  tax  asset  related  to the
     Company's net operating loss  carryforward  is fully  reserved.  Due to the
     provisions  of Internal  Revenue  Code  Section  338,  the Company may have
     limited net  operating  loss  carryforwards  available to offset  financial
     statement or tax return  taxable  income in future periods as a result of a
     Fiscal 2000 change in control involving 50 percentage points or more of the
     issued and outstanding securities of the Company.

                                                                             F-8

<PAGE>


                            Tomahawk Industries, Inc.

                    Notes to Financial Statements - Continued


Note B - Summary of Significant Accounting Policies - Continued

3.   Income (Loss) per share
     -----------------------

     Basic  earnings  (loss) per share is computed  by  dividing  the net income
     (loss) by the weighted-average  number of shares of common stock and common
     stock  equivalents  (primarily  outstanding  options and warrants).  Common
     stock equivalents  represent the dilutive effect of the assumed exercise of
     the  outstanding  stock  options and  warrants,  using the  treasury  stock
     method.  The calculation of fully diluted earnings (loss) per share assumes
     the dilutive effect of the exercise of outstanding  options and warrants at
     either the  beginning  of the  respective  period  presented or the date of
     issuance,  whichever is later. As of April 30, 2001 and 2000, respectively,
     the Company  has no  outstanding  stock  warrants,  options or  convertible
     securities  which could be  considered as dilutive for purposes of the loss
     per share calculation.


Note C - Compliance with Laws and Regulations

Prior to 1988, the Company sold approximately  55,162,000 shares  (approximately
33.16% of the issued and outstanding  shares at July 31, 2000) at prices ranging
from $0.03 to $0.10 per share.  In the opinion of the Company's legal counsel at
the time of the various stock sales, such shares were sold as private placements
and, accordingly,  were made without the filing of registration  statements.  No
registration  was in  effect  with  regard  to the  sales of  those  securities.
Subsequent  counsel advised the Company that said sales may not have constituted
valid private  placements of the Company's  common stock and,  accordingly,  the
Company may have been  subject to claims of  recision  and/or  damages.  Current
management and legal counsel are of the opinion that the applicable  statutes of
limitation on any actions for recision  and/or damages with respect to the sales
of such shares have expired and no further  liability for payment of those funds
or claims for recision exists as of July 31, 2000.

In June 1986,  the Company and it's then  President  and other former  corporate
officers  agreed to a permanent  injunction  issued by the U. S.  Securities and
Exchange  Commission (SEC). Under the provisions of the injunction,  the Company
and its former  officers  agreed,  among other  things,  to refrain from selling
common  stock  of the  Company  unless  and  until an  appropriate  registration
statement has been filed with the SEC. Through June 7, 2001, the Company has not
filed an appropriate Registration Statement with the SEC and has no future plans
to do so.


                                                                             F-9