CONFORMED COPY


                                    FORM 10-Q


                       SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549



                                QUARTERLY REPORT

              Pursuant to Section 13 or 15(d) of the Securities and
                              Exchange Act of 1934


                       For Quarter ended December 31, 2000


                        CENTURY PARK PICTURES CORPORATION

             (Exact name of registrant as specified in its charter)



        Minnesota                    0-14247                     41-1458152
        ---------              ----------------------          -------------
(State of Incorporation)      (Commission File Number)        (IRS ID Number)



4701 IDS Center, Minneapolis, Minnesota                            55402
---------------------------------------                          ----------
(Address of principal executive offices)                         (zip code)


Registrant's telephone number, including area code:               (612) 333-5100
                                                                  --------------


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 twelve (12) months and (2) has been subject to such filing
requirements for the past ninety (90) days. x Yes _ No

As at December 31, 2000, 9,886,641 common shares, $.001 par value, were
outstanding.


Page 1 of 5
<PAGE>


                          PART I FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS.

         This information is included following "Index to Consolidated Financial
         Statements".

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

                                   OPERATIONS

Period Ended December 31, 2000 compared to Period Ended December 31, 1999.

Operations consisted primarily of administrative expenses and interest expense.
Administrative expenses were $2,054 for 2000 compared to $24 for 1999. The
increase is primarily due to the timing of expenses related to filing the
Company's annual report. Interest expense was $12,875 for 2000 and $12,871 for
1999, representing interest accruing on notes payable.

Period Ended December 31, 1999 compared to Period Ended December 31, 1998.

Operations consisted primarily of administrative expenses and interest expense.
Administrative expenses were $24 for 1999 compared to $2,690 for 1998. The
decrease is primarily due to the timing of expenses related to filing the
Company's annual report. Such costs are expected to be comparable for the
current year and will be incurred in the second quarter. Interest expense was
$12,871 for 1999 and $15,000 for 1998, representing interest accruing on notes
payable.


                        LIQUIDITY AND SOURCES OF CAPITAL

Cash used in operating activities for the quarter ended December 31, 2000, was
$2,055 compared to $24 for the comparable prior year period. The primary use of
cash in operating activities was the payment of accounting fees. Cash flows from
investing and financing activities during the quarters ended December 31, 2000
and 1999 consisted of advances from the Company's CEO totaling $2,078 and $100,
respectively.

At December 31, 2000, the Company had a working capital deficit of ($1,297,255)
and cash of $56. The working capital deficit at December 31, 2000, was primarily
comprised of notes payable of $400,000, accounts payable and accrued expenses of
$541,659, and accrued compensation of $354,500. Approximately $302,000 of the
accounts payable and accrued expenses relate to The Pike. Management believes
that a significant portion of these obligations would be discharged upon
liquidation as discussed below.


Page 2 of 5
<PAGE>


The Company intends to continue to seek out potential acquisitions. It is
probable that any significant acquisitions would require long-term financing.
However, there are no assurances that the Company will complete any acquisitions
or that it will obtain financing under terms acceptable to the Company.

The Company had no material commitments for capital expenditures as of December
31, 2000 and capital expenditures for the remainder of fiscal 2001 are expected
to be immaterial.

During the quarter ended March 31, 1996, the Company finalized the acquisition
of an arena football franchise under a lease with an option to purchase the
franchise. During fiscal year 1996 such franchise was operated through a wholly
owned subsidiary, Minnesota Arena Football, Inc. (The Pike).

During the third and fourth fiscal quarters of fiscal year 1996, The Pike failed
to generate the anticipated cash flow. Consequently, during such quarters the
Company's CEO advanced approximately $206,000 and the Company raised additional
financing from outside sources of approximately $400,000. The financing raised
from outside sources is currently payable, and is secured by the common stock of
Minnesota Arena Football, Inc. Management anticipates such financing will be
converted into the Company's common stock. However, there are no assurances that
such financing will be converted into the Company's common stock. Throughout
much of the third and fourth fiscal quarters of fiscal 1996, management
attempted to sell its interest in the arena football franchise. Failing to do
so, the option expired. Accordingly, The Pike has ceased operations. Management
is evaluating the appropriate course of action for The Pike, which will most
likely be liquidated either in or out of bankruptcy court.

The Company's independent auditors issued their opinion on the consolidated
financial statements as of September 30, 2000, wherein they added an additional
paragraph which raised substantial doubt as to the Company's ability to continue
as a going concern. This doubt was raised primarily due to recurring losses from
operations, the Company's stockholders' deficit of $1,282,326 as of September
31, 2000, and to no ongoing operations. Currently, the Company has no specific
viable plans intended to mitigate the effect of such conditions, other than its
plans to acquire a company that will generate sufficient cash flows for
continued existence.



Page 3 of 5
<PAGE>


                                     PART II

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 OF FORM 8-K.

                                      NONE



                                   SIGNATURES

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 THEREUNTO DULY AUTHORIZED.

Dated as of September 10, 2001.

                                               CENTURY PARK PICTURES CORPORATION

                                               By:/s/Thomas K. Scallen
                                               Thomas K. Scallen
                                               Chief Executive Officer




Page 4 of 5
<PAGE>


                   INDEX TO CONSOLIDATED FINANCIAL STATEMENTS


1.       Consolidated Balance Sheets                                         F-1

2.       Consolidated Statements of Operations                               F-2

3.       Consolidated Statements of Cash Flows                               F-3

4.       Notes to Consolidated Financial Statements                          F-4





Page 5 of 5
<PAGE>


                CENTURY PARK PICTURES CORPORATION AND SUBSIDIARY
                          CONSOLIDATED BALANCE SHEETS
                    December 31, 2000 and September 30, 2000
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                December 31,    September 30,
                         ASSETS                    2000            2000
                                               -------------    -------------
<S>                                             <C>             <C>
CURRENT ASSETS
  Cash                                          $        56     $        33
  Prepaid expenses                                      926             926
                                               -------------    -------------
     Total current assets                               982             959
                                               -------------    -------------

PROPERTY AND EQUIPMENT, at cost
  Furniture and fixtures                             94,077          94,077
                                               -------------    -------------
                                                     94,077          94,077
  Less accumulated depreciation                      94,077          94,077
                                               -------------    -------------
                                                         --              --
                                               -------------    -------------

                                                $       982     $       959
                                               =============   ==============

                 LIABILITITES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
  Notes payable                                 $   400,000     $   400,000
  Due to related parties                              2,078              --
  Accounts payable                                  279,686         279,686
  Accrued compensation                              354,500         354,500
  Accrued expenxes                                  261,973         249,099
                                               -------------    -------------
     Total current liabilities                  $ 1,298,237     $ 1,283,285
                                               -------------    -------------


STOCKHOLDERS' EQUITY (DEFICIT)
  Common stock, par value $.001 per share
    authorized 200,000,000 shares; issued
    and outstanding 9,886,641 shares;                 9,887           9,887
  Additional paid in capital                      6,168,281       6,168,281
  Accumulated deficit                            (7,475,423)     (7,460,494)
                                               -------------    -------------
                                                 (1,297,255)     (1,282,326)
                                               -------------    -------------

                                                $       982     $       959
                                               =============   ==============
</TABLE>

                See Notes to Consolidated Financial Statements.


                                      F-1
<PAGE>


                CENTURY PARK PICTURES CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF OPERATIONS
          For the Three-Month Periods Ended December 31, 2000 and 1999
                                   (Unaudited)

                                                         Three-Month Periods
                                                         2000           1999
                                                      ----------     ----------
Operating Expenses
   General and administration                         $    2,054     $       24
                                                      ----------     ----------

      Operating loss                                      (2,054)           (24)

Interest expense                                         (12,875)       (12,871)
                                                      ----------     ----------

      Income (loss) before income taxes                  (14,929)       (12,895)

Income taxes                                                  --             --
                                                      ----------     ----------

      Net income (loss)                               $  (14,929)    $  (12,895)
                                                      ==========     ==========

      Net income (loss) per share of common stock     $    (0.00)    $    (0.00)
                                                      ==========     ==========

      Weighted average number of common shares         9,886,641      9,886,641
                                                      ==========     ==========




                See Notes to Consolidated Financial Statements.


                                      F-2
<PAGE>


                CENTURY PARK PICTURES CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
          For the Three-Month Periods Ended December 31, 2000 and 1999
                                   (Unaudited)


                                                           2000         1999
                                                        ---------     ---------
CASH FLOWS FROM  OPERATING ACTIVITIES
 Net loss                                               $ (14,929)    $ (12,895)
 Adjustments to reconcile net loss to cash
  provided by operating activities:
   Increase (Decrease) in-
     Accounts payable and accrued expenses                 12,874        12,871
                                                        ---------     ---------

       Net cash provided by operating activities           (2,055)          (24)
                                                        ---------     ---------


CASH FLOWS FROM FINANCING ACTIVITIES
 Increase (decrease) in due to/from related parties         2,078           100
                                                        ---------     ---------

       Net cash provided by (used in) financing
        activities                                          2,078           100
                                                        ---------     ---------

       Net increase (decrease) in cash                         23            76

       Cash, beginning of period                               33            29
                                                        ---------     ---------

       Cash, end of period                              $      56     $     105
                                                        =========     =========




                See Notes to Consolidated Financial Statements.


                                      F-3


<PAGE>


                        CENTURY PARK PICTURES CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS



Note 1.  Basis of Presentation:

The accompanying unaudited consolidated financial statements have been prepared
in accordance with the instructions to Form 10-Q and, therefore, do not include
all information and disclosures necessary for a fair presentation of results of
operations, financial position, and consolidated cash flows in conformity with
generally accepted accounting principles. However, such statements do reflect,
in the opinion of management of the Company, all adjustments, consisting of only
normal recurring accruals, necessary for a fair presentation of the results of
operations for these periods.


                                       F-4