UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 10-QSB

--------------------------------------------------------------------------------

(Mark one)
[X] Quarterly Report Under Section 13 or 15(d) of the Securities Exchange
    Act of 1934

    For the quarterly period ended December 31, 2004

[ ] Transition Report Under Section 13 or 15(d) of the Securities Exchange
    Act of 1934

    For the transition period from ______________ to _____________

--------------------------------------------------------------------------------

                         Commission File Number: 0-14247


                        CENTURY PARK PICTURES CORPORATION
        (Exact name of small business issuer as specified in its charter)

       Minnesota                                                 41-1458152
(State of incorporation)                                (IRS Employer ID Number)

                     4701 IDS Center, Minneapolis, MN 55402
                    (Address of principal executive offices)

                                 (612) 333-5100
                           (Issuer's telephone number)

--------------------------------------------------------------------------------

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

State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: January 24, 2005: 72,456,441

Transitional Small Business Disclosure Format (check one): YES [ ] NO [X]
<PAGE>
                        CENTURY PARK PICTURES CORPORATION

               Form 10-QSB for the Quarter ended December 31, 2004

                                Table of Contents

                                                                            Page
                                                                            ----
PART I - FINANCIAL INFORMATION

  Item 1 Financial Statements                                                 3

  Item 2 Management's Discussion and Analysis or Plan of Operation           12

  Item 3 Controls and Procedures                                             14


PART II - OTHER INFORMATION

  Item 1 Legal Proceedings                                                   14

  Item 2 Recent Sales of Unregistered Securities and Use of Proceeds         14

  Item 3 Defaults Upon Senior Securities                                     14

  Item 4 Submission of Matters to a Vote of Security Holders                 14

  Item 5 Other Information                                                   14

  Item 6 Exhibits                                                            14


SIGNATURES                                                                   15

                                       2
<PAGE>
                                     PART I
ITEM 1 - FINANCIAL STATEMENTS

                        CENTURY PARK PICTURES CORPORATION
                                 BALANCE SHEETS
                           December 31, 2004 and 2003

                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                          (Restated)
                                                                    December 31,          December 31,
                                                                       2004                  2003
                                                                    -----------           -----------
<S>                                                                 <C>                   <C>
                                     ASSETS
CURRENT ASSETS
  Cash on hand and in bank                                          $        --           $        --
                                                                    -----------           -----------

      TOTAL CURRENT ASSETS                                                   --                    --
                                                                    -----------           -----------
PROPERTY AND EQUIPMENT - AT COST
  Furniture and fixtures                                                 94,077                94,077
  Less accumulated depreciation                                         (94,077)              (94,077)
                                                                    -----------           -----------
      NET PROPERTY AND EQUIPMENT                                             --                    --
                                                                    -----------           -----------
OTHER ASSETS
  Rent deposits                                                             926                   926
                                                                    -----------           -----------

TOTAL ASSETS                                                        $       926           $       926
                                                                    ===========           ===========

                      LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
  Accounts payable - trade                                          $       320           $        --
  Other accrued expenses                                                     --                 9,027
  Advances from shareholder                                              41,393                30,821
  Accrued officer compensation                                          354,500               354,500
                                                                    -----------           -----------
      TOTAL CURRENT LIABILITIES                                         396,213               394,348
                                                                    -----------           -----------

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY
  Common stock - $0.001 par value
   200,000,000 shares authorized
   72,456,441 shares issued and outstanding, respectively                72,456                72,456
  Additional paid-in capital                                          6,804,569             6,804,569
  Accumulated deficit                                                (7,272,312)           (7,270,447)
                                                                    -----------           -----------

      TOTAL SHAREHOLDERS' EQUITY                                       (395,287)             (393,422)
                                                                    -----------           -----------

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                          $       926           $       926
                                                                    ===========           ===========
</TABLE>

   The financial information presented herein has been prepared by management
           without audit by independent certified public accountants.
   The accompanying notes are an integral part of these financial statements.

                                       3
<PAGE>
                        CENTURY PARK PICTURES CORPORATION
                 STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
                  Three months ended December 31, 2004 and 2003

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                               (Restated)
                                                                       Three months            Three months
                                                                           ended                  ended
                                                                        December 31,           December 31,
                                                                            2004                   2003
                                                                        ------------           ------------
<S>                                                                     <C>                    <C>
REVENUES                                                                $         --           $         --
                                                                        ------------           ------------
EXPENSES
  General and administrative expenses                                          3,574                 10,804
                                                                        ------------           ------------

LOSS FROM OPERATIONS                                                          (3,574)               (10,804)

OTHER INCOME (EXPENSE)
  Interest expense                                                                --                 (2,104)
                                                                        ------------           ------------

LOSS BEFORE PROVISION FOR INCOME TAXES AND EXTRAORDINARY ITEM                 (3,574)               (12,908)

PROVISION FOR INCOME TAXES                                                        --                     --
                                                                        ------------           ------------

LOSS BEFORE EXTRAORDINARY ITEM                                                (3,574)               (12,908)

EXTRAORDINARY ITEM
   Forgiveness and extinguishment of
     notes payable and accrued interest                                           --                 86,956
                                                                        ------------           ------------

NET INCOME (LOSS)                                                             (3,574)                74,048

OTHER COMPREHENSIVE INCOME                                                        --                     --
                                                                        ------------           ------------

COMPREHENSIVE INCOME (LOSS)                                             $     (3,574)          $     74,048
                                                                        ============           ============
Net loss per weighted-average share of common stock
 outstanding, calculated on Net Loss - basic and fully diluted
 From continuing operations                                             $      (0.00)          $      (0.00)
 From extraordinary item                                                        0.00                   0.00
                                                                        ------------           ------------
                                                                        $      (0.00)          $      (0.00)
                                                                        ============           ============
Weighted-average number of shares of common stock outstanding             72,456,441             65,728,304
                                                                        ============           ============
</TABLE>

   The financial information presented herein has been prepared by management
           without audit by independent certified public accountants.
   The accompanying notes are an integral part of these financial statements.

                                       4
<PAGE>
                        CENTURY PARK PICTURES CORPORATION
                            STATEMENTS OF CASH FLOWS
                  Three months ended December 31, 2004 and 2003

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                              (Restated)
                                                                          Three months       Three months
                                                                             ended               ended
                                                                           December 31,       December 31,
                                                                              2004               2003
                                                                            --------           --------
<S>                                                                       <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net Income (Loss)                                                         $ (3,574)          $ 74,048
  Adjustments to reconcile net income to net cash
   provided by operating activities
     Forgiveness of notes payable and accrued interest                            --            (86,956)
     Consulting fees paid with common stock                                       --              7,870
     Contribution of interest expense related to
      suspended interest payable on notes payable                                 --              2,104
     Increase (Decrease) in
       Accounts payable and accrued expenses                                     (75)                --
                                                                            --------           --------

NET CASH USED IN OPERATING ACTIVITIES                                         (3,649)            (2,934)
                                                                            --------           --------

CASH FLOWS FROM INVESTING ACTIVITIES                                              --                 --
                                                                            --------           --------

CASH FLOWS FROM FINANCING ACTIVITIES
  Funds advanced by officer/shareholder                                        3,649              2,934
                                                                            --------           --------

NET CASH PROVIDED BY FINANCING ACTIVITIES                                      3,649              2,934
                                                                            --------           --------

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                  --                 --

Cash and cash equivalents at beginning of period                                  --                 --
                                                                            --------           --------

Cash and cash equivalents at end of period                                  $     --           $     --
                                                                            ========           ========

SUPPLEMENTAL DISCLOSURES OF INTEREST AND INCOME TAXES PAID
  Interest paid during the period                                           $     --           $     --
                                                                            ========           ========
  Income taxes paid (refunded)                                              $     --           $     --
                                                                            ========           ========

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
  Conversion of outstanding notes payable into common stock                 $     --           $ 50,000
                                                                            ========           ========
  Conversion of accrued interest payable into common stock                  $     --           $ 36,758
                                                                            ========           ========
</TABLE>

   The financial information presented herein has been prepared by management
           without audit by independent certified public accountants.
   The accompanying notes are an integral part of these financial statements.

                                       5
<PAGE>
                        CENTURY PARK PICTURES CORPORATION

                          NOTES TO FINANCIAL STATEMENTS


NOTE A - ORGANIZATION AND DESCRIPTION OF BUSINESS

Century  Park  Pictures  Corporation  (Company)  was  incorporated  in  1983  in
accordance with the Laws of the State of Minnesota.

In  prior  periods,  the  Company  developed,   produced  and  marketed  various
entertainment  properties,   including  without  limitation,   the  intellectual
product(s) of entities engaged in the motion picture, television, and theatrical
state productions,  such as creative writers,  producers and directors,  for the
motion picture, pay/cable and commercial television markets.

The Company has effectively had no operations,  assets or liabilities  since its
fiscal year ended September 30, 1999.

NOTE B - PREPARATION OF FINANCIAL STATEMENTS

The  Company  follows  the  accrual  basis  of  accounting  in  accordance  with
accounting principles generally accepted in the United States of America and has
adopted a year-end of September 30.

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America 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.

Management further acknowledges that it is solely responsible for adopting sound
accounting  practices,   establishing  and  maintaining  a  system  of  internal
accounting  control and preventing and detecting  fraud. The Company's system of
internal  accounting  control is designed to assure,  among other items, that 1)
recorded  transactions  are valid; 2) valid  transactions  are recorded;  and 3)
transactions  are  recorded in the proper  period in a timely  manner to produce
financial  statements which present fairly the financial  condition,  results of
operations  and cash  flows of the  Company  for the  respective  periods  being
presented

During interim periods, the Company follows the accounting policies set forth in
its annual  audited  financial  statements  filed with the U. S.  Securities and
Exchange  Commission  on its  Annual  Report on Form  10-KSB  for the year ended
September 30, 2004. The  information  presented  within these interim  financial
statements  may not  include all  disclosures  required  by  generally  accepted
accounting  principles  and the  users of  financial  information  provided  for
interim periods should refer to the annual  financial  information and footnotes
when reviewing the interim financial results presented herein.

In the opinion of management,  the accompanying  interim  financial  statements,
prepared in  accordance  with the U. S.  Securities  and  Exchange  Commission's
instructions   for  Form  10-QSB,   are   unaudited  and  contain  all  material
adjustments,  consisting  only of  normal  recurring  adjustments  necessary  to
present fairly the financial condition,  results of operations and cash flows of
the Company for the respective  interim  periods  presented.  The current period
results of operations are not necessarily indicative of results which ultimately
will be reported for the full fiscal year ending September 30, 2005.

For  segment  reporting  purposes,  the Company  operated  in only one  industry
segment during the periods represented in the accompanying  financial statements
and makes all  operating  decisions and  allocates  resources  based on the best
benefit to the Company as a whole.

                                       6
<PAGE>
                        CENTURY PARK PICTURES CORPORATION

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED


NOTE C - GOING CONCERN UNCERTAINTY

The Company has effectively had no operations,  assets or liabilities  since its
fiscal year ended September 30, 1999.

The Company has no operating activities, no cash on hand, no profit and operates
a business plan with inherent risk. Because of these factors,  our auditors have
issued an audit  opinion for the Company which  includes a statement  describing
our going concern  status.  This means,  in our auditor's  opinion,  substantial
doubt about our ability to  continue  as a going  concern  exists at the date of
their opinion.

The  Company's  continued  existence is  dependent  upon its ability to generate
sufficient cash flows from operations to support its daily operations as well as
provide sufficient resources to retire existing liabilities and obligations on a
timely basis.

The Company  anticipates  offering future sales of equity  securities.  However,
there is no assurance that the Company will be able to obtain additional funding
through the sales of additional  equity  securities  or, that such  funding,  if
available, will be obtained on terms favorable to or affordable by the Company.

If no additional  operating  capital is received  during the next twelve months,
the  Company  will be  forced  to rely on  existing  cash in the  bank  and upon
additional  funds  loaned  by  management  and/or  significant  stockholders  to
preserve the integrity of the corporate  entity at this time. In the event,  the
Company  is  unable to  acquire  advances  from  management  and/or  significant
stockholders, the Company's ongoing operations would be negatively impacted.

It  is  the  intent  of  management  and  significant  stockholders  to  provide
sufficient  working  capital  necessary to support and preserve the integrity of
the corporate entity.  However, no formal commitments or arrangements to advance
or loan funds to the Company or repay any such advances or loans exist. There is
no legal obligation for either management or significant stockholders to provide
additional future funding.

While the Company is of the opinion that good faith  estimates of the  Company's
ability to secure additional  capital in the future to reach our goals have been
made, there is no guarantee that the Company will receive  sufficient funding to
sustain operations or implement any future business plan steps.

NOTE D - 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. Property and equipment

     Property and equipment  consists of furniture and fixtures and is stated at
     the lower of depreciated cost or net realizable value.

3. Income Taxes

     The Company uses the asset and liability  method of  accounting  for income
     taxes. At December 31, 2004 and 2003, 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.

                                       7
<PAGE>
                        CENTURY PARK PICTURES CORPORATION

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED


NOTE D - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

3. Income Taxes - continued

     As of December 31, 2004 and 2003,  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 any
     future  change in control  involving  50  percentage  points or more of the
     issued and outstanding securities of the Company.

4. Income (Loss) per share

     Basic  earnings  (loss) per share is computed  by  dividing  the net income
     (loss) available to common shareholders by the  weighted-average  number of
     common shares  outstanding  during the respective  period  presented in our
     accompanying financial statements.  Fully diluted earnings (loss) per share
     is  computed  similar  to basic  income  (loss) per share  except  that the
     denominator is increased to include the number of 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, at either the beginning of the respective period presented or
     the date of  issuance,  whichever  is later,  and only if the common  stock
     equivalents  are  considered  dilutive  based upon the Company's net income
     (loss) position at the calculation date.

     The Company had no common  stock  equivalents  outstanding  at December 31,
     2004 or 2003, respectively.

NOTE E - FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amount of cash,  accounts  receivable,  accounts  payable and notes
payable, as applicable,  approximates fair value due to the short term nature of
these items  and/or the current  interest  rates  payable in relation to current
market conditions.

Interest  rate risk is the risk  that the  Company's  earnings  are  subject  to
fluctuations  in interest  rates on either  investments  or on debt and is fully
dependent  upon  the  volatility  of  these  rates.  The  Company  does  not use
derivative instruments to moderate its exposure to interest rate risk, if any.

Financial  risk  is  the  risk  that  the  Company's  earnings  are  subject  to
fluctuations in interest rates or foreign exchange rates and are fully dependent
upon the  volatility  of  these  rates.  The  company  does  not use  derivative
instruments to moderate its exposure to financial risk, if any.

NOTE F - NOTES PAYABLE

On  July  31,  2002,  the  Company's  Board  of  Directors  and  the  respective
noteholders  approved the  extension of the ultimate  maturity date of the notes
through  December 3, 2003. In conjunction  with the extension,  the  noteholders
agreed to discontinue the accrual of interest subsequent to July 31, 2002.

The effect of the  discontinuance  of interest  accruals  subsequent to July 31,
2002 will be charged to  operations  as a component of interest  expense with an
offset to  contributed  additional  paid-in  capital to  recognize  the economic
effect of the suspended and forgiven  interest on these notes in the  respective
future period.

                                       8
<PAGE>
                        CENTURY PARK PICTURES CORPORATION

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED


NOTE F - NOTES PAYABLE - CONTINUED

On June 25, 2003, noteholders  aggregating $300,000 in outstanding principal and
$231,900 in accrued  interest  payable  exercised  their  respective  conversion
rights and received an aggregate  53,106,900 shares of restricted,  common stock
upon conversion.

On December 3, 2003, the final ultimate maturity date, one remaining  noteholder
exercised his conversion rights and converted approximately $50,000 in principal
and $36,758 in accrued  interest  payable into  8,675,800  shares of restricted,
unregistered common stock.

On December 3, 2003,  upon the failure to timely  convert or post a timely claim
for repayment, the Company's Board of Directors, acting upon the advise of legal
counsel,   voided  the  remaining  outstanding   unconverted  notes  payable  of
approximately  $50,000 and the  associated  accrued  interest  of  approximately
$36,956 and  recognized a one-time  gain on the technical  forgiveness  of these
debts.

For the  respective  years ended  September  30, 2004 and 2003,  the Company has
recognized  approximately  $2,104 and $41,005 in additional  paid-in capital for
imputation of suspended interest on these notes.

NOTE G - RELATED PARTY TRANSACTIONS

Through  December 31, 2004, the Company's Chief  Executive  Officer has advanced
the Company  approximately  $41,400 to support  operations,  settle  outstanding
trade accounts  payable and provide  working  capital.  The advance is repayable
upon demand and is non-interest bearing and is unsecured.

As of December 31, 2004 and 2003,  respectively,  the Company owed the Company's
Chief Executive Officer approximately $354,500 for cumulative accrued salary.

NOTE H - INCOME TAXES

The  components  of income tax  (benefit)  expense  for each of the three  month
periods ended December 31, 2004 and 2003, respectively, are as follows:

                                       Three months           Three months
                                          ended                   ended
                                       December 31,            December 31,
                                           2004                    2003
                                       ------------            ------------
      Federal:
       Current                         $         --            $         --
       Deferred                                  --                      --
                                       ------------            ------------
                                                 --                      --
                                       ------------            ------------
     State:
       Current                                   --                      --
       Deferred                                  --                      --
                                       ------------            ------------
                                                 --                      --
                                       ------------            ------------
         Total                         $         --            $         --
                                       ============            ============

As  of  December  31,  2004,  the  Company  has a  Federal  net  operating  loss
carryforward  of  approximately  $3,100,000  and  a  State  net  operating  loss
carryforward of approximately  $790,000 to offset future taxable income. Subject
to current regulations, these carryforwards will expire between 2002 and 2015.

                                       9
<PAGE>
                        CENTURY PARK PICTURES CORPORATION

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED


NOTE H - INCOME TAXES - CONTINUED

The Company's  income tax benefit  (expense) for each of the three month periods
ended  December 31, 2004 and 2003,  respectively,  differed  from the  statutory
federal rate of 34 percent as follows:

                                                   Three months     Three months
                                                       ended           ended
                                                    December 31,    December 31,
                                                        2004            2003
                                                      -------         -------
Statutory rate applied to earnings (loss)
 before income taxes                                  $(1,215)       $ 25,175
Increase (decrease) in income taxes resulting from:
 State income taxes                                        --              --
 Other, including reserve for deferred tax asset        1,215         (25,175)
                                                      -------        --------

    Income tax expense                                $    --        $     --
                                                      =======        ========

Temporary differences, consisting primarily of statutory differences between the
financial  statement  carrying  amounts and tax bases of assets and  liabilities
give rise to deferred  tax assets and  liabilities  as of the  respective  years
ended September 30, 2004 and 2003.

<TABLE>
<CAPTION>
                                                               Year ended September 30, 2004
                                                     ---------------------------------------------------
                                                       Federal              State               Total
                                                     -----------         -----------         -----------
<S>                                                  <C>                 <C>                 <C>
Deferred tax assets:
  Other (current)                                    $    96,000         $    35,000         $   131,000
  Net operating loss carryforwards (non-current)         932,000              77,000           1,009,000
                                                     -----------         -----------         -----------
                                                       1,028,000             112,000           1,140,000
Valuation allowance                                   (1,028,000)           (112,000)         (1,140,000)
                                                     -----------         -----------         -----------

    Net Deferred tax asset                           $        --         $        --         $        --
                                                     ===========         ===========         ===========

Deferred tax liabilities                             $        --         $        --         $        --
                                                     ===========         ===========         ===========

                                                               Year ended September 30, 2003
                                                     ---------------------------------------------------
                                                       Federal              State               Total
                                                     -----------         -----------         -----------
Deferred tax assets:
  Other (current)                                    $    96,000         $    35,000         $   131,000
  Net operating loss carryforwards (non-current)         932,000              77,000           1,009,000
                                                     -----------         -----------         -----------
                                                       1,028,000             112,000           1,140,000
Valuation allowance                                   (1,028,000)           (112,000)         (1,140,000)
                                                     -----------         -----------         -----------

    Net Deferred tax asset                           $        --         $        --         $        --
                                                     ===========         ===========         ===========

Deferred tax liabilities                             $        --         $        --         $        --
                                                     ===========         ===========         ===========
</TABLE>

During the years ended September 30, 2004 and 2003, respectively,  the valuation
allowance increased  (decreased) by approximately $-0- and $-0-.  Realization of
deferred tax assets is dependent  upon  sufficient  future taxable income during
the period that deductible temporary  differences and carryforwards are expected
to be available to reduce taxable income.

                                       10
<PAGE>
                        CENTURY PARK PICTURES CORPORATION

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED


NOTE J - COMMON STOCK TRANSACTIONS

On June  25,  2003,  the  Company  issued  an  aggregate  53,783,500  shares  of
restricted, unregistered common stock in redemption of various outstanding notes
payable  in the face  amount of  approximately  $300,000  and  accrued  interest
payable of  approximately  $237,835,  pursuant  to the  conversion  terms of the
respective  notes.  The  valuation  of this  transaction  was equal to the "fair
value" of the Company's common stock on the conversion date.

On  December  3,  2003,  the  Company  issued  8,675,800  shares of  restricted,
unregistered  common stock in  redemption  of two (2) notes  payable in the face
amount of  approximately  $50,000 and accrued  interest payable of approximately
$36,758, pursuant to the conversion terms of the respective notes. The valuation
of this  transaction was equal to the "fair value" of the Company's common stock
on the  conversion  date. The Company relied upon Section 4(2) of The Securities
Act of 1933, as amended,  for an exemption from registration of these shares and
no underwriter was used in this transaction.

On  December  3,  2003,   the  Company  issued  787,100  shares  of  restricted,
unregistered   common  stock  as  compensation  for  fees  associated  with  the
conversion of the outstanding notes payable and accrued interest  payable.  This
transaction  was valued at  approximately  $7,871,  which was equal to the "fair
value" of the Company's  common stock on the conversion date. The Company relied
upon Section 4(2) of The  Securities  Act of 1933, as amended,  for an exemption
from  registration  of  these  shares  and  no  underwriter  was  used  in  this
transaction.

NOTE K - COMMITMENTS AND CONTINGENCIES

The Company  leases  office space under a  noncancellable  operating  lease that
expired on August 31, 2002. The space has been sub-leased to a separate  company
owned by the  Company's  CEO.  The Company  incurred no expense  related to this
lease  during   either  of  the  years  ended   September  30,  2003  and  2002,
respectively, or subsequent thereto.


                (Remainder of this page left blank intentionally)

                                       11
<PAGE>
ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

(1) CAUTION REGARDING FORWARD-LOOKING INFORMATION

Certain  statements  contained  in this  quarterly  filing,  including,  without
limitation, statements containing the words "believes", "anticipates", "expects"
and  words  of  similar  import,  constitute  forward-looking  statements.  Such
forward-looking  statements  involve known and unknown risks,  uncertainties and
other factors that may cause the actual results,  performance or achievements of
the Company,  or industry  results,  to be materially  different from any future
results,   performance   or   achievements   expressed   or   implied   by  such
forward-looking statements.

Such factors include, among others, the following:  international,  national and
local general economic and market conditions:  demographic  changes; the ability
of the Company to sustain,  manage or  forecast  its growth;  the ability of the
Company to successfully make and integrate acquisitions;  raw material costs and
availability;  new product  development and  introduction;  existing  government
regulations  and  changes  in,  or  the  failure  to  comply  with,   government
regulations;  adverse publicity;  competition; the loss of significant customers
or suppliers;  fluctuations  and  difficulty in forecasting  operating  results;
changes in business strategy or development  plans;  business  disruptions;  the
ability  to attract  and  retain  qualified  personnel;  the  ability to protect
technology; and other factors referenced in this and previous filings.

Given  these  uncertainties,  readers  of this Form  10-QSB  and  investors  are
cautioned not to place undue reliance on such  forward-looking  statements.  The
Company  disclaims  any  obligation  to update any such  factors or to  publicly
announce the result of any  revisions to any of the  forward-looking  statements
contained herein to reflect future events or developments.

(2) RESULTS OF OPERATIONS, LIQUIDITY AND CAPITAL RESOURCES

Century  Park  Pictures  Corporation  (Company)  was  incorporated  in  1983  in
accordance with the Laws of the State of Minnesota.

The Company developed,  produced and marketed various entertainment  properties,
including without limitation, the intellectual product(s) of entities engaged in
the motion  picture,  television,  and  theatrical  state  productions,  such as
creative writers, producers and directors, for the motion picture, pay/cable and
commercial television markets.

The Company has had no operations,  assets or liabilities  since its fiscal year
ended September 30, 1999.

General and administrative expenses for the three months ended December 31, 2004
and 2003 were approximately $3,574 and $10,804,  respectively.  Interest expense
on the outstanding $-0- and $100,000 in notes payable was approximately $-0- and
$2,107 for each of the respective three month periods.

On  July  31,  2002,  the  Company's  Board  of  Directors  and  the  respective
noteholders  approved the  extension of the ultimate  maturity date of the notes
through  December 3, 2003. In conjunction  with the extension,  the  noteholders
agreed to discontinue  the accrual of interest  subsequent to July 31, 2002. The
effect of the  discontinuance of interest  accruals  subsequent to July 31, 2002
will be charged to operations as a component of interest  expense with an offset
to contributed  additional  paid-in  capital to recognize the economic effect of
the  suspended  and forgiven  interest on these notes in the  respective  future
period.

On June 25, 2003, noteholders  aggregating $300,000 in outstanding principal and
$231,900 in accrued  interest  payable  exercised  their  respective  conversion
rights and received an aggregate  53,106,900 shares of restricted,  common stock
upon conversion.

On December 3, 2003, the final ultimate maturity date, one remaining  noteholder
exercised his conversion rights and converted approximately $50,000 in principal
and $36,758 in accrued  interest  payable into  8,675,800  shares of restricted,
unregistered common stock.

On December 3, 2003,  upon the failure to convert or post a claim for repayment,
the Company's Board of Directors, with the approval of legal counsel, voided the
remaining outstanding unconverted notes payable of approximately $50,000 and the
associated  accrued interest of approximately  $36,956 and recognized a one-time
gain on the technical forgiveness of these debts.

On  December  3,  2003,   the  Company  issued  787,100  shares  of  restricted,
unregistered   common  stock  as  compensation  for  fees  associated  with  the
conversion of the outstanding notes payable and accrued interest  payable.  This
transaction  was valued at  approximately  $7,871,  which was equal to the "fair
value" of the Company's  common stock on the conversion date. The Company relied
upon Section 4(2) of The  Securities  Act of 1933, as amended,  for an exemption

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<PAGE>
from  registration  of  these  shares  and  no  underwriter  was  used  in  this
transaction.

Net  income  (loss)  for the three  months  ended  December  31,  2004 and 2003,
respectively, was approximately $(3,574) and $74,048, respectively. Earnings per
share for the respective quarters ended December 31, 2004 and 2003 was $0.00 and
$0.00 on the weighted-average post-reverse split shares issued and outstanding.

The  Company  does not  expect  to  generate  any  meaningful  revenue  or incur
operating  expenses for purposes  other than  fulfilling  the  obligations  of a
reporting company under the Securities Exchange Act of 1934 (Exchange Act).

At December 31, 2004,  September  30, 2004 and December 31, 2003,  respectively,
the Company had working  capital of  approximately  $(396,200),  $(392,600)  and
$(394,300).

Management  intends to  continue to restrict  expenditures  with  respect to the
future  development of entertainment  properties and has suspended the marketing
of its completed  properties due to the lack of working capital. The Company has
two  completed  properties.  The costs of  development  have been  written  off.
Accordingly,  the  Company  will  incur  little,  if any,  costs  of  marketing.
Management  believes  these  actions  may  contribute  to the  Company's  future
liquidity.  The Company has no material  commitments for capital expenditures as
of December 31, 2004, or subsequent  thereto,  and  anticipates  no  significant
capital expenditures for future periods.

The Company  intends to continue to seek out potential  acquisitions.  Since the
Company has no available bank lines of credit,  there are no assurances that the
Company will be able to  successfully  identify any  potential  acquisitions  or
that, if  identified,  it will obtain  financing  under terms  acceptable to the
Company.  Management  presently  considers  an  acquisition  or a merger  of the
Company a viable alternative.

The Company has no operating activities, no cash on hand, no profit and operates
a business plan with inherent risk. Because of these factors,  our auditors have
issued an audit  opinion for the Company which  includes a statement  describing
our going concern  status.  This means,  in our auditor's  opinion,  substantial
doubt about our ability to  continue  as a going  concern  exists at the date of
their opinion.

The  Company's  continued  existence is  dependent  upon its ability to generate
sufficient cash flows from operations to support its daily operations as well as
provide sufficient resources to retire existing liabilities and obligations on a
timely basis.

The Company  anticipates  offering future sales of equity  securities.  However,
there is no assurance that the Company will be able to obtain additional funding
through the sales of additional  equity  securities  or, that such  funding,  if
available, will be obtained on terms favorable to or affordable by the Company.

If no additional  operating  capital is received  during the next twelve months,
the  Company  will be  forced  to rely on  existing  cash in the  bank  and upon
additional  funds  loaned  by  management  and/or  significant  stockholders  to
preserve the integrity of the corporate  entity at this time. In the event,  the
Company  is  unable to  acquire  advances  from  management  and/or  significant
stockholders, the Company's ongoing operations would be negatively impacted.

It  is  the  intent  of  management  and  significant  stockholders  to  provide
sufficient  working  capital  necessary to support and preserve the integrity of
the corporate entity.  However, no formal commitments or arrangements to advance
or loan funds to the Company or repay any such advances or loans exist. There is
no legal obligation for either management or significant stockholders to provide
additional future funding.

While the Company is of the opinion that good faith  estimates of the  Company's
ability to secure additional  capital in the future to reach our goals have been
made, there is no guarantee that the Company will receive  sufficient funding to
sustain operations or implement any future business plan steps.

ITEM 3 - CONTROLS AND PROCEDURES

As required by Rule 13a-15 under the Exchange  Act,  within the 90 days prior to
the filing date of this report,  the Company  carried out an  evaluation  of the
effectiveness of the design and operation of the Company's  disclosure  controls
and  procedures.  This evaluation was carried out under the supervision and with
the  participation  of  the  Company's   management,   including  the  Company's
President,  Chief Executive and Financial  Officer.  Based upon that evaluation,
the Company's  President,  Chief Executive and Financial  Officer concluded that
the Company's disclosure controls and procedures are effective.  There have been
no significant  changes in the Company's  internal controls or in other factors,
which could  significantly  affect internal controls  subsequent to the date the
Company carried out its evaluation.

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<PAGE>
Disclosure  controls and procedures are controls and other  procedures  that are
designed to ensure that information  required to be disclosed in Company reports
filed or submitted under the Exchange Act is recorded, processed, summarized and
reported,  within the time  periods  specified  in the  Securities  and Exchange
Commission's  rules and  forms.  Disclosure  controls  and  procedures  include,
without limitation,  controls and procedures designed to ensure that information
required to be  disclosed  in Company  reports  filed under the  Exchange Act is
accumulated  and  communicated  to  management,  including the  Company's  Chief
Executive  and  Financial  Officer as  appropriate,  to allow  timely  decisions
regarding required disclosure.

                          PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

None

ITEM 2 - RECENT SALES OF UNREGISTERED SECURITIES AND USE OF PROCEEDS

None

ITEM 3 - DEFAULTS ON SENIOR SECURITIES

None

ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None

ITEM 5 - OTHER INFORMATION

None

ITEM 6 - EXHIBITS

Exhibits

     31.1 Certification pursuant to Section 302 of Sarbanes-Oxley Act of 2002
     32.1 Certification pursuant to Section 906 of Sarbanes-Oxley Act of 2002.

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<PAGE>
                                   SIGNATURES

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

                                            CENTURY PARK PICTURES CORPORATION


Dated: January 24, 2005                     /s/ Thomas K. Scallen.
       ----------------                     ------------------------------------
                                                               Thomas K. Scallen
                                              Chairman, Chief Executive Officer,
                                            Chief Financial Officer and Director


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