U.S. SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                           FORM 10-QSB

     [ X ]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

     For the quarterly period ended March 31, 2001

     [   ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

     For the transition period from        to

                 Commission File No.  000-14919

                        MTN HOLDINGS, INC
(Exact name of small business issuer as specified in its charter)

            Nevada                          22-2485230
(State or other jurisdiction of    (IRS Employer Identification
incorporation or organization)                 No.)


   5882 South 900 East, Suite 202, Salt Lake City, Utah  84121
            (Address of principal executive offices)

                         (801) 269-9500
                   (Issuer's telephone number)

                         Not Applicable
(Former name, address and fiscal year, if changed since last report)

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

APPLICABLE ONLY TO CORPORATE ISSUERS:
State the number of shares outstanding of each of the issuer's
classes of common equity, as May 14, 2001:  9,860,245 shares of
common stock.

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
Check whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13, or 15(d) of the
Exchange Act subsequent to the distribution of securities under
a plan confirmed by a court. Yes [  ]  No  [  ]

Transitional Small Business Format:  Yes [   ]  No [ X ]

Documents incorporated by reference:  None

<PAGE>

FORM 10-QSB
MTN HOLDINGS, INC

INDEX
                                                       Page
PART I.   Financial Information                           3

          Unaudited Condensed Balance Sheets, March       3
          31, 2001 and June 30, 2000

          Unaudited Condensed Statements of               4
          Operations, for the three and nine months
	    ended March 31, 2001 and 2000 and from the
	    re-entering of development stage on
	    July 1, 1994 through March 31, 2001

          Unaudited Condensed Statements of Cash          5
          Flows, for the nine months ended
	    March 31, 2001 and 2000 and from the
	    re-entering of development stage on
	    July 1, 1994 through March 31, 2001

          Notes to Unaudited Condensed Financial   	    6
          Statements

          Management's Plan of Operation			   10

PART II.  Other Information                              11

          Signatures                                     11

                                2
<PAGE>

                  PART I. FINANCIAL INFORMATION

                       MTN HOLDINGS, INC.
                   (Formerly Videoplex, Inc.)
                  [A Development Stage Company]

               UNAUDITED CONDENSED BALANCE SHEETS


                             ASSETS

                                        	  March 31,    June 30,
                                       	      2001         2000
                                        	 ___________  ___________
CURRENT ASSETS:
  Cash in bank   	                         $        -   $        -
                                           ___________  ___________
        Total Current Assets                        -            -
                                           ___________  ___________
                                           $        -   $        -
                                           ___________  ___________


LIABILITIES AND STOCKHOLDERS' (DEFICIT)

CURRENT LIABILITIES:
   Liabilities of discontinued operations  $   65,035   $  107,275
   Accounts payable                             1,245            -
   Accounts payable-related party              26,312        3,540
                                          ___________  ___________
        Total Current Liabilities              92,592      110,815
                                          ___________  ___________

STOCKHOLDERS' (DEFICIT):
  Common stock, $.001 par value, 50,000,000
    shares authorized, 9,860,245 shares issued
    and outstanding                            9,860         9,860
    Capital in excess of par               2,545,029     2,545,029
  Retained deficit                        (2,691,299)   (2,691,299)
  Earnings (Deficit) accumulated during
    the development stage                     43,818        25,595
                                          ___________  ___________

Total Stockholders' (Deficit)                (92,592)     (110,815)
                                          ___________  ___________
                                          $        -   $        -
                                          ___________  ___________

Note: The balance sheet at June 30, 2000 was taken from the audited
        financial statements at that date and condensed.

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

                                3
<PAGE>

                       MTN HOLDINGS, INC.
                  [A Development Stage Company]

          UNAUDITED CONDENSED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
                                                		    		  Cumulative from
                                                 		    		  the Re-entering of
                                               		                    Development Stage
                   		For the Three Months  For the Nine Months	  on July 1,
 			            Ended March 31,  	    Ended March 31,  	  1994 through
               			_______________	    _______________	  March 31,
                     		  2001    2000        2001       2000       2001
                  		_______________________________________	 ________
<S>                           <C>     <C>           <C>        <C>       <C>
REVENUE:
 Sales            	  	$    -  $     -        $    -    $    -    $     -
                  	      ______  _______       ________   _______    ________
     Total Revenue    		     -        -             -         -          -
                  	      ______  _______       ________   _______    ________

EXPENSES:
  General and administrative       -   11,519        22,017    39,890     60,972
                  	      ______  _______       ________   _______    ________
     Total Expenses		     -   11,519        22,017    39,890     60,972
                  	      ______  _______       ________   _______    ________

LOSS FROM OPERATIONS		     -  (11,519)      (22,017)  (39,890)   (60,972)

CURRENT INCOME TAXES  		     -        -             -         -          -

DEFERRED INCOME TAX		     -        -             -         -          -
                  	      ______  _______       ________   _______    ________

EXTRAORDINARY ITEMS:
 Gain on settlement of
   liabilities related to
    discontinued operations        -        -        40,240         -    104,790
                  	      ______  _______       ________   _______    ________

NET INCOME (LOSS)   		$    - $(11,519) 	    $18,223  $(39,890)   $43,818
                  	      ______  _______       ________   _______    ________

INCOME (LOSS) PER SHARE:
 Gain (loss) from continuing
    operations      		$    - $   (.00)      $  (.00) $   (.00)   $  (.01)
 Gain from extraordinary
   Item                       $    - $      -       $   .00  $      -    $   .01
                  	      ______  _______       ________   _______    ________
     Total Income (Loss)
        Per  Share    		$    - $   (.00)      $   .00  $   (.00)   $   .00
                  	      ______  _______       ________   _______    ________
</TABLE>
 The accompanying notes are an integral part of these unaudited
                 condensed financial statements.

                                4
                             <PAGE>
                       MTN HOLDINGS, INC.
                  [A Development Stage Company]

          UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
                                      			 		   Cumulative from
                                                                     the Re-entering of
                                                	   		   Development Stage
                                  			For the Nine Months  on July 1,
                                    		Ended March 31,      1994 through
                              			_______________	   March 31,
                                    		2001       2000      2001
                                 			________________________________
<S>                                             <C>       <C>       <C>
Cash Flows From Operating Activities:
 Net income (loss)                 			$ 18,223  $(39,890) $  43,818
 Adjustments to reconcile net loss to
   net cash used by operating activities:
   Extraordinary gain on settlement of debt
     related to discontinued operations		 (40,240)        -   (104,790)
   Changes in assets and liabilities:
     Increase in accounts payable -related party  22,772   39,8907	1,727
     Increase in accounts payable     		   1,245         -      1,245
     (Decrease) in liabilities of discontinued
       operations                   		  (2,000)        -    (12,000)
                                		 	________  ________  __________
      Net Cash (Used) by Operating Activities          -         -  	    -
                                		 	________  ________  __________
Cash Flows From Investing Activities:
                                    		       -         -          -
                                		 	________  ________  __________
      Net Cash (Used) by Investing Activities 	       -         -          -
                                		 	________  ________  __________
Cash Flows From Financing Activities:
                                     		       -         -          -
                                		 	________  ________  __________
      Net Cash Provided by Financing Activities        -         -          -
                                		 	________  ________  __________
Net Increase in Cash                 		       -         -          -

Cash at Beginning of the Year       		       -         -          -
                                		 	________  ________  __________
Cash at End of the Year         		      $      -  $      -  $       -
                                		 	________  ________  __________

Supplemental Disclosures of Cash Flow
  Information:

  Cash paid during the period for:
    Interest                          	    	$  	 -   $     -   $	    -
    Income taxes                 		  	$      -   $     -   $      -
</TABLE>
Supplemental Schedule of Noncash Investing and Financing Activities:
  For the nine months ended March 31, 2001:
  The Company reported a gain on forgiveness of debt of $40,240

  For the nine months ended March 31, 2000:
  None

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

                                5
<PAGE>

                       MTN HOLDINGS, INC.
                   (Formerly Videoplex, Inc.)
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  Organization - Videoplex, Inc. (the Company) was organized under
  the laws of the State of New Jersey on August 29, 1983.  The
  Company was formed to engage in the marketing and sales of the
  "Videoplex" single screen multi-presentation machine.  During
  1994, Management determined it was in the best interest of the
  Company to discontinue its previous operations.  The Company is
  considered to have re-entered into a new development stage on
  July 1, 1994.

  Merger - On December 15, 2000, the Company merged with MTN
  Holdings, Inc., a Nevada Corporation, incorporated on July 14,
  2000 for the sole purpose of being the surviving corporation in a
  merger effectuated solely to change the corporate name,
  capitalization, and domicile of Videoplex.

  Condensed Financial Statements - The accompanying financial
  statements have been prepared by the Company without audit.  In
  the opinion of management, all adjustments (which include only
  normal recurring adjustments) necessary to present fairly the
  financial position, results of operations and cash flows at March
  31, 2001 and 2000 and for the three and nine month periods then
  ended have been made.

  Certain information and footnote disclosures normally included in
  financial statements prepared in accordance with generally
  accepted accounting principles have been condensed or omitted.
  It is suggested that these condensed financial statements be read
  in conjunction with the financial statements and notes thereto
  included in the Company's June 30, 2000 audited financial
  statements.  The results of operations for the periods ended
  March 31, 2001 and 2000 are not necessarily indicative of the
  operating results for the full year.

  Development Stage - The Company is considered a development stage
  company as defined in SFAS no. 7.

  Income (Loss) Per Share - The computation of income (loss) per
  share of common stock is based on the weighted average number of
  shares outstanding during the periods presented, in accordance
  with Statement of Financial Accounting Standards No. 128,
  "Earnings Per Share" [See Note 9].

  Cash and Cash Equivalents - For purposes of the statement of cash
  flows, the Company considers all highly liquid debt investments
  purchased with a maturity of three months or less to be cash
  equivalents.

  Accounting Estimates - The preparation of financial statements in
  conformity with generally accepted accounting principles required
  management to make estimates and assumptions that effect the
  reported amounts of assets and liabilities, the disclosures 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 estimated by management.

                                6
<PAGE>

                       MTN HOLDINGS, INC.
                   (Formerly Videoplex, Inc.)
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]

  Recently Enacted Accounting Standards - Statement of Financial
  Accounting Standards (SFAS) No. 136, "Transfers of Assets to a
  not for profit organization or charitable trust that raises or
  holds contributions for others", SFAS No. 137, "Accounting for
  Derivative Instruments and Hedging Activities - deferral of the
  effective date of FASB Statement No. 133 (an amendment of FASB
  Statement No. 133)", SFAS No. 138 "Accounting for Certain
  Derivative Instruments and Certain Hedging Activities - and
  Amendment of SFAS No. 133", SFAS No. 139, "Recission of SFAS No.
  53 and Amendment to SFAS No. 63, 89 and 21", and SFAS No. 140,
  "Accounting to Transfer and Servicing of Financial Assets and
  Extinguishment of Liabilities", were recently issued. SFAS No.
  136, 137, 138, 139 and 140 have no current applicability to the
  Company or their effect on the financial statements would not
  have been significant.

NOTE 2 - DISCONTINUED OPERATIONS

  Included in liabilities at March 31, 2001 are $65,035 of
  judgements and taxes payable related to the former operations
  of the Company, discontinued in July, 1994.

NOTE 3 - COMMON STOCK

  During 1989 the board of directors approved the issuance of
  92,697 shares of common stock in payment of interest expense on
  debt.  Although the Company previously accounted for the stock as
  issued, it was in fact never issued.

  During August 2000, the Board of Directors resolved to not issue
  the shares and to adjust the books to match the shares actually
  issued and outstanding.  The financial statements at March 31,
  2001 and June 30, 2000 reflect the cancellation of the shares.
  The Board of Directors also resolved to adjust the books by 8,628
  shares of common stock.  With these adjustments, the books now
  reflect the actual shares issued and outstanding.  These
  adjustments were reflected in the June 30, 2000 financial
  statements.

NOTE 4 - INCOME TAXES

  The Company accounts for income taxes in accordance with
  Statement of Financial Accounting Standards No. 109 "Accounting
  for Income Taxes" which requires the liability approach for the
  effect of income taxes.

  The Company has available at March 31, 2001, unused operating
  loss carryforwards of approximately $2,647,000, which may be
  applied against future taxable income and which expire in various
  years through 2021.  If certain substantial changes in the
  Company's ownership should occur, there could be an annual
  limitation on the amount of net operating loss carryforward which
  can be utilized.  The amount of and ultimate realization of the
  benefits from the operating loss carryforwards for income tax
  purposes is dependent, in part, upon the tax laws in effect, the
  future earnings of the Company and other future events, the
  effects of which cannot be determined.  Because of the
  uncertainty surrounding the realization of the loss carryforwards
  the Company has established a valuation allowance equal to the
  tax effect of the loss carryforwards (approximately $900,000) at
  March 31, 2001 and, therefore, no deferred tax asset has been
  recognized for the loss carryforwards.  The change in the
  valuation allowance is approximately $6,000 and $10,000 for the
  nine months ended March 31, 2001 and 2000, respectively.

                                7
<PAGE>

                       MTN HOLDINGS, INC.
                   (Formerly Videoplex, Inc.)
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 5 - EXTRAORDINARY GAIN

  During the quarter ending December 31, 2000, the Company reported
  a gain on forgiveness of debt of $40,240.

NOTE 6 - RELATED PARTY TRANSACTIONS

  Management Compensation - During the periods presented, the
  Company did not pay any compensation to its officers and
  directors.

  Office Space - The Company has not had a need to rent office
  space.  An officer/shareholder of the Company is allowing the
  Company to use his home as a mailing address, as needed, at no
  expense to the Company.

  Expenses Paid - At March 31, 2001 the Company had a payable to
  a related party of $26,312.  These funds were used to fund
  operations and pay debts of the Company.

NOTE 7 - GOING CONCERN

  The accompanying financial statements have been prepared in
  conformity with generally accepted accounting principles, which
  contemplate continuation of the Company as a going concern.
  However, the Company has no on-going operations and has incurred
  losses since its inception.  Further, the Company has current
  liabilities in excess of assets and has no working capital to pay
  its expenses.  These factors raise substantial doubt about the
  ability of the Company to continue as a going concern.  In this
  regard, management is proposing to raise any necessary additional
  funds not provided by operations through loans or through sales
  of its common stock or through a possible business combination
  with another company.  There is no assurance that the Company
  will be successful in raising this additional capital or
  achieving profitable operations.  The financial statements do not
  include any adjustments that might result from the outcome of
  these uncertainties.

NOTE 8 - CONTINGENCIES

  During 1994, the Company discontinued all of its previous
  operations.  Management believes that the Company is not liable
  for any existing liabilities related to its former operations but
  the possibility exists that creditors and others seeking relief
  may include the Company in claims and suits.  The Company is not
  currently named in any such suits nor is it aware of any
  threatened suits.  It is the belief of Management and their
  Counsel that the Company would be successful in defending against
  any such claims and that no material negative impact on the
  financial position of the Company would occur.  Management and
  Counsel further believe that with the passage of time the
  likelihood of any such claims being raised is becoming more
  remote and that various Statutes of Limitations should provide
  adequate defenses for the Company.  Consequently, the financial
  statements do not reflect any accruals or allowances for any such
  claims.

                                8
<PAGE>

                       MTN HOLDINGS, INC.
                   (Formerly Videoplex, Inc.)
                  [A Development Stage Company]

        NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 9 - INCOME (LOSS) PER SHARE

  The following data show the amounts used in computing income
  (loss) per share and the effect on income (loss) and the weighted
  average number of shares of dilutive potential common stock for
  the three and nine months ended March 31, 2001 and 2000 and for
  the period from the re-entering of development stage on July 1,
  1994 through March 31, 2001:
<TABLE>
<CAPTION>
                          	                  	      	          Cumulative from
                                                                           the Re-entering of
                       	   	       For the Three           For the Nine   Development Stage
                           	        Months Ended           Months Ended    on July 1, 1994,
                          	          March 31,              March 31,         through
                   		   __________________________________________      March 31,
                        	      2001        2000        2001       2000        2001
                      		   _________________________________________________________
<S>                              <C>         <C>         <C>         <C>         <C>
   Loss from continuing
     operations available to
     common stockholders
      (numerator)     		   $       -   $ (11,519)  $ (22,017)  $ (39,890)  $ (60,972)

    Gain from extraordinary
      Available to common
       Stockholders (numerator)  $       -   $       -   $  40,240   $       -   $ 104,790

   Weighted average number of
     common shares outstanding
     used in earnings per share
     during the period
     (denominator)  	         9,860,245   8,444,314   9,860,245   8,444,314   8,627,099
</TABLE>
  Dilutive earnings (loss) per share was not presented, as the
  Company had no common equivalent shares for all periods presented
  that would effect the computation of diluted earnings (loss) per
  share.

NOTE 10 - SUBSEQUENT EVENTS

  Subsequent to March 31, 2001, the Company is in negotiations to
  settle debt related to discontinued operations in the amount of
  $65,035.  The current proposal is for the Company to pay $10,000
  in cash and to issue 10,000 shares of common stock as payment in
  full.

                                9
<PAGE>

             MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND PLAN OF OPERATION

Forward-Looking Statements

This Form 10-QSB includes, without limitation, certain statements
containing the words "believes", "anticipates", "estimates",
"intends", and words of a similar nature, constitute "forward-
looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995.  This Act provides a "safe harbor"
for forward-looking statements to encourage companies to provide
prospective information about themselves so long as they identify
these statements as forward looking and provide meaningful,
cautionary statements identifying important factors that could
cause actual results to differ from the projected results.  All
statements other than statements of historical fact made in this
Form 10-QSB are forward-looking.  In particular, the statements
herein regarding industry prospects and future results of
operations or financial position are forward-looking statements.
Forward-looking statements reflect management's current
expectations and are inherently uncertain.  The Company's actual
results may differ significantly from management's expectations.

Results of Operations

For  the  Three and Nine Month Periods Ended March 31,  2001  and
2000

The Company had no revenue from continuing operations for the
three-month and nine-month periods ended March 31, 2001 and 2000.

General and administrative expenses for the three month-periods
ended March 31, 2001 and 2000 were $0 and $11,519, respectively.
General and administrative expenses for the nine  month-periods
ended March 31, 2001 and 2000 were $22,017 and $39,890,
respectively.  These expenses consisted of general corporate
administration, legal and professional expenses, accounting  and
auditing costs, as well as costs associated with the settlement
of  debts from the Company's former operations.  The decrease in
expenses is attributable to the settlement of debts in 2000 that
did not recur in 2001.

Consequently, the Company realized operating losses of $0 and
$22,017 for the three and nine months ended March 31, 2001,
respectively, compared to operating losses of $11,519 and $39,890
for the same periods in 2000.

During the nine months ended March 31, 2001, the Company realized
an extraordinary gain of $40,240 on the settlement of liabilities
related to the discontinued operations of the Company.

As a result of the foregoing, the Company realized net income of
$0 and $18,223 for the three and nine months ended March 31,
2001, respectively, as compared net losses of $11,519 and $39,890
for the same periods in 2000.  This substantial increase in net
income for the nine-month period is attributable to the
extraordinary gain of $40,240 from the settlement of debt.

Liquidity and Capital Resources

At March 31, 2001, the Company had liabilities of $65,035 from
discontinued operations, $1,245 in accounts payable, and $26,312
in accounts payable to a related party giving the Company a
working capital deficit of $92,592, as compared to a working
capital deficit of $110,815 at June 30, 2000.  This decrease in
the working capital deficit is attributable to the settlement of
outstanding liabilities of the Company.  The Company is currently
in negotiations to settle the remaining outstanding judgments
discussed under the caption "Legal Proceedings" of this report.

                               10
<PAGE>

The Company has received cash advances from Capital Holdings,
Inc. in the amount of $26,312, of which $22,772 was advanced
during the nine months ended March 31, 2001.  Mr. John Chymboryk,
sole officer and director of the Company, and Mr. Kip Eardley, a
director of the Company, are each 50% owners of Capital Holdings,
Inc., and therefore related parties to the transaction.

The Company does not have sufficient cash to meet its operational
needs for the next twelve months.  Management, like in the past,
will attempt to raise capital for its current operational needs
through advances from its majority shareholder, debt financing,
equity financing or a combination of financing options.  However,
there are no existing understandings, commitments or agreements
for such an infusion; nor can there be assurances to that effect.
Moreover, the Company's need for capital may change dramatically
if and during that period, it acquires an interest in a business
opportunity.  Unless the Company can obtain additional financing,
its ability to continue as a going concern is doubtful.

The Company's current operating plan is to (i) handle the
administrative and reporting requirements of a public company,
and (ii) search for potential businesses, products, technologies
and companies for acquisition.  At present, the Company has no
understandings, commitments or agreements with respect to the
acquisition of any business venture, and there can be no
assurance that the Company will identify a business venture
suitable for acquisition in the future.  Further, there can be no
assurance that the Company would be successful in consummating
any acquisition on favorable terms or that it will be able to
profitably manage any business venture it acquires.

                   PART II -OTHER INFORMATION

Legal Proceedings

The Company is negotiating with Anixter Cable TV to settle a
judgment against the Company in the amount of $65,035.  The
current proposal is for the Company to pay $10,000 in cash and to
issue 10,000 shares of common stock as payment in full.

Reports on Form 8-K

None

Exhibits

None

SIGNATURES

In accordance with the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned
thereunto duly authorized.

                                   MTN Holdings, Inc.


Date: May 14, 2001                 By:  /s/ John Chymboryk
                                   President and Director

                            11
<PAGE>