Registrant's telephone number
including area code                                       
                          
(801) 256-9600



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 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.







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**ITEM 1 - FINANCIAL STATEMENTS**

The condensed financial statements included herein have been prepared by the Company,
pursuant to the rules and regulations of the Securities and Exchange Commission.

In the opinion of the Company, all adjustments, consisting of only normal recurring
adjustments, necessary to present fairly the financial position of the Company as of March 31, 2001
and the results of its operations and changes in its financial position from September 30, 2000
through March 31, 2001 have been made.  The results of its operations for such interim period is not
necessarily indicative of the results to be expected for the entire year.









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**NTC Holdings, Inc.**Balance Sheets

**ASSETS**

March 31,        September 30,	                                         
                                          
                                
2001                      
2000                                         
                                          
                                          
                 
(Audited)

TOTAL ASSETS                                       
                                          
      
$ 
0                    
$ 0



CURRENT LIABILITIES

Accounts Payable                                       
                                          
     
$		10,528              
$  10,159
Accounts Payable - Related Party                                     
                              
5,108                    
5,108
Taxes Payable                                        
                                          
              
1,100                    
1,100
Interest Payable                                       
                                          
             
1,527                    
1,424
Notes Payable                                        
                                          
              
5,127                    
5,127

Total Current Liabilities                                     
                                          
   
23,390                
22,918

STOCKHOLDERS' EQUITY

Common Stock 26,000,001 shares
authorized at $.001 par value;
22,590,800 shares issued and outstanding                                   
                 
22,591                   
22,591
Capital in Excess of Par Value                                     
                               
263,551                 
263,551
Retained Deficit                                       
                                          
        
(309,532)
(309,060)

Total Stockholders' Equity                                     
                                      
(23,390)                
(22,918)

TOTAL LIABILITIES
AND STOCKHOLDERS' EQUITY                                      
                    
$   
0                      
$  0

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**NTC Holdings, Inc.**Statements of Operations

For the Three       For the Three    
For the Six       For the Six
                                          
                 
Months Ended     Months Ended    Months Ended  
Months Ended
                                          
                     
March 31,            
March31          March
31         March
31                                          
                  
2001                    
2000                  
2001              
2000

REVENUE                                       
       
$      
0                   
$ 
0                   
$        
0          $ 0

EXPENSES

General & Administrative                              
369                       
0                       
10,528            0
Interest                                         
                
103                    
103                           
206        206

Total Expenses                                       
     
472                     
103                     
10,734         206

NET INCOME
(LOSS) - Before Taxes                               
(472)                  
(103)                  
(10,734)       (206)

Taxes                                         
                       
0                         
0                             
0             0

INCOME (LOSS)                                      
(472)                    
(103)                  
(10,734)      (206)

Loss Per Common
Share                                         
               
$     
0                    
$    
0                  
$        
0       $    0

Average Outstanding Shares               
22,590,800           
22,590,800              
22,590,800  22,590,800





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**NTC Holdings, Inc.**Statements of Cash Flows
(unaudited)

For the Six            
For the Six
                                          
                                          
                       
Months Ended       Months Ended
                                          
                                          
                         
March 31,              
March 31,	                                         
                                          
                             
20012000

CASH FLOWS FROM
OPERATING ACTIVITIESNet Income (Loss)                                       
                                        
$		(10,734)                
$		(206)
Depreciation                                        
                                          
                    
0                          
0
Increase (Decrease)
in Accounts Payable/Interest Payable                                    
                     
10,734                     
206
Increase in Taxes Payable                                      
                                   
__________________0_                                         
                                          
                                         
0                      
0

CASH FLOWS FROM
INVESTING ACTIVITIES                                      
                                          
  
0                      
0

CASH FLOWS FROM
FINANCING ACTIVITIES                                      
                                          
  
0                      
0

INCREASE (DECREASE) IN CASH
AND CASH EQUIVALENTS                                      
                                          
0                       
0

CASH AND CASH EQUIVALENTS
AT THE BEGINNING OF PERIOD                                     
                       0                       
0

CASH AND CASH EQUIVALENTS 
AT END OF PERIOD                                       
                                          
 
$          
0              
$     0

CASH PAID DURING THE PERIOD FOR:Interest                                        
                                          
                        
$           
0              
$     0
Income Taxes (Including
Interest & Penalties)                                      
                                          
       
$        325              
$      0

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**NTC Holdings, Inc.**Notes to the Financial Statements 
March 31, 2001

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES

Organization and Business - The Company was organized in May 1983 in the State of New York under the
name of "National Thoroughbred Corporation."  Subsequently, the name was changed to "NTC Holdings,
Inc."  Although originally formed to engage in purchasing, breeding and selling Thoroughbred horses, the
company's management anticipates merging with an as yet unidentified on-going business in the future.

NOTE 2 -INCOME TAXES

The Company adopted Statement of Financial Standards No. 109 "Accounting for Income taxes" in the
fiscal year ended September 30, 2000 and was applied retroactively.

Statement of Financial Accounting Standards No. 109 " Accounting for Income Taxes" requires an asset
and liability approach for financial accounting and reporting for income tax purposes.  This statement
recognizes (a) the amount of taxes payable or refundable for the current year and (b) deferred tax liabilities
and assets for future tax consequences of events that have been recognized in the financial statements or tax
returns.

Deferred income taxes result from temporary differences in the recognition of accounting transactions for
tax and financial reporting purposes.   There were no temporary differences at September 30, 200 and earlier
years; accordingly, no deferred tax liabilities have been recognized for all years.

The Company has cumulative net operating loss carryforwards of approximately $298,000 at September 30,
2000.  No effect has been shown in the financial statements for the net operating loss carryforwards as the
likelihood of future tax benefit from such net operating loss carryforwards is not presently determinable.
Accordingly, the potential tax benefits of the net operating loss carryforwards, estimated based upon current
tax rates at September 30, 2000 have been offset by valuation reserves of the same amount.

The Company has available approximately $298,000 in net operating loss carryforwards that will begin to
expire in the year 2003.

NOTE 3 - NOTES PAYABLE

In 1997, DHM Enterprises advanced $5,127 in funds for company operations.  The  board of directors
approved a convertible debenture instrument for the accounts payable to 5,000,000 shares of common stock.
The debenture is due on July 14, 2001 and has an interest rate of 8%.  The conversion feature is at the option
of the bond holder.

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**NTC Holdings, Inc.**Notes to the Financial Statements
March 31, 2001

NOTE 4 - USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS

The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect reported amounts of assets and liabilities,
disclosure of contingent assets and liabilities at the date of the financial statements and revenues and
expenses during the reporting period.  In these financial statements, assets, liabilities and earnings involve
extensive reliance on management's estimates.  Actual results could differ from those estimates.









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**ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION       
AND
RESULTS OF OPERATIONS.**

Liquidity and Capital Resources.  The Registrant had approximately $(23,390) as operating capital at March 31, 2001,
compared to $(11,650) for the same period last year. The Registrant intends to raise additional funds as needed through
private placements with accredited and sophisticated investors.

Results of Operation.  Due to the lack of operations during the quarter ended March 31, 2001, the registrant had net
loss of $(472), compared to net loss of $(103) for the same period last year. The registrant had net loss of $(10,734) for the
six months ended March 31, 2001, compared to net loss of $(206) for the same period last year.



**OTHER INFORMATION**

Item 1.                        
Legal Proceedings.                                       
                 
None
Item 2.                        
Changes in Securities.                                      
              
None
Item 3.                        
Defaults Upon Senior Securities.                                    
None
Item 4.                        
Submission of Matters to a Vote of Security Holders.     
None
Item 5.                        
Other Information.                                       
                  
None
Item 6.                        
Exhibits and Reports on Form 8-K.                                
None

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

Dated May 10, 2001

NTC Holdings, Inc.

/s/ Dean Becker