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, 2002

[ ] 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 15, 2003: 9,886,641

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

               Form 10-QSB for the Quarter ended December 31, 2002

                                Table of Contents


                                                                           Page
                                                                           ----
PART I - FINANCIAL INFORMATION

  Item 1 Financial Statements                                                3

  Item 2 Management's Discussion and Analysis or Plan of Operation          11

  Item 3 Controls and Procedures                                            13


PART II - OTHER INFORMATION

  Item 4 Submission of Matters to a Vote of Security Holders                13

  Item 6 Exhibits and Reports on Form 8-K                                   13


SIGNATURES                                                                  14

                                       2
<PAGE>
ITEM 1 - PART 1 - FINANCIAL STATEMENTS

                        Century Park Pictures Corporation
                                 Balance Sheets
                           December 31, 2002 and 2001

                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                          December 31,         December 31,
                                                                             2002                 2001
                                                                          -----------          -----------
<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
  Notes payable                                                           $   400,000          $   400,000
  Accounts payable                                                                 --                1,281
  Accrued compensation                                                        354,500              354,500
  Accrued interest payable                                                    311,549              281,509
  Other accrued expenses                                                        9,027                9,027
  Advances from shareholder                                                    16,435                1,495
                                                                          -----------          -----------
      TOTAL CURRENT LIABILITIES                                             1,091,511            1,047,812
                                                                          -----------          -----------

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY
  Common stock - $0.001 par value. 200,000,000 shares authorized
   9,886,641 shares issued and outstanding, respectively                        9,887                9,887
  Additional paid-in capital                                                6,204,545            6,182,981
  Accumulated deficit                                                      (7,305,017)          (7,239,754)
                                                                          -----------          -----------

      TOTAL SHAREHOLDERS' EQUITY                                           (1,090,585)          (1,045,391)
                                                                          -----------          -----------

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, 2002 and 2001

                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                      Three months         Three months
                                                                         ended                ended
                                                                      December 31,         December 31,
                                                                         2002                 2001
                                                                      -----------          -----------
<S>                                                                   <C>                  <C>
REVENUES                                                              $        --          $        --
                                                                      -----------          -----------
EXPENSES
  General and administrative expenses                                       7,570                1,495
                                                                      -----------          -----------

LOSS FROM OPERATIONS                                                       (7,570)              (1,495)

OTHER INCOME (EXPENSE)
  Interest expense                                                        (12,979)             (12,875)
                                                                      -----------          -----------

LOSS BEFORE PROVISION FOR INCOME TAXES                                    (20,549)             (14,370)

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

NET LOSS                                                                  (20,549)             (14,370)

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

COMPREHENSIVE LOSS                                                    $   (20,549)         $   (14,370)
                                                                      ===========          ===========
Loss per weighted-average share of common stock outstanding,
 computed on Net Loss - basic and fully diluted                               nil                  nil
                                                                      ===========          ===========

Weighted-average number of shares of common stock outstanding           9,886,641            9,886,641
                                                                      ===========          ===========
</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, 2002 and 2001

                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                      Three months         Three months
                                                                         ended                ended
                                                                      December 31,         December 31,
                                                                         2002                 2001
                                                                      -----------          -----------
<S>                                                                   <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net Loss                                                             $(20,549)            $(14,370)
  Adjustments to reconcile net income to net cash
   provided by operating activities
    Contribution of interest expense related to suspended
     interest payable on notes payable                                   12,979                   --
    Increase (Decrease) in accounts payable and accrued expenses             --               12,875
                                                                       --------             --------

NET CASH USED IN OPERATING ACTIVITIES                                    (7,570)              (1,495)
                                                                       --------             --------

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

CASH FLOWS FROM FINANCING ACTIVITIES
  Funds advanced by officer/shareholder                                   7,570                1,495
  Amounts paid by shareholder on behalf of Company for
   operating expenses                                                        --                   --
                                                                       --------             --------

NET CASH PROVIDED BY FINANCING ACTIVITIES                                 7,570                1,495
                                                                       --------             --------

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)                                         $     --             $     --
                                                                       ========             ========
</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

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.

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.

                                       6
<PAGE>
                        Century Park Pictures Corporation

                    Notes to Financial Statements - Continued


NOTE C - GOING CONCERN UNCERTAINTY - CONTINUED

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, 2002 and 2001,  respectively,  the deferred tax asset
   and  deferred  tax  liability  accounts,  as  recorded  when  material to the
   financial  statements,  are  entirely  the result of  temporary  differences.
   Temporary  differences represent differences in the recognition of assets and
   liabilities for tax and financial reporting purposes,  primarily  accumulated
   depreciation and  amortization,  allowance for doubtful accounts and vacation
   accruals.

   As of  December  31, 2002 and 2001,  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.

                                       7
<PAGE>
                        Century Park Pictures Corporation

                    Notes to Financial Statements - Continued


NOTE D - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

4. INCOME (LOSS) PER SHARE

   Basic earnings (loss) per share is computed by dividing the net income (loss)
   by the  weighted-average  number of shares of common stock  outstanding.  The
   calculation of fully diluted  earnings (loss) per share at he dilutive effect
   of the exercise of outstanding 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.  As of  December  31, 2002 and 2001,
   respectively,  the  Company has no  outstanding  stock  warrants,  options or
   convertible  securities which could be considered as dilutive for purposes of
   the loss per share calculation.

NOTE 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

The Company has twelve separate notes payable to various individuals,  including
one to the Company's Chief Executive Officer of $50,000, aggregating $400,000 at
September  30,  2002 and 2001,  respectively.  The notes bear  interest at rates
ranging between 12% to 15% and were secured by the Company's  right,  title, and
interest in the Pike.  The notes  originally  matured  between June and December
1996.

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.

For the period from  August 1, 2002  through  September  30, 2002 and the period
from October 1, 2002  through  December  31,  2002,  the Company has  recognized
approximately  $8,585 and $12,979,  respectively,  in additional paid-in capital
due to the suspended interest on these notes.

The noteholders  have the right to convert,  at any time at the holder's option,
all outstanding  principal,  accrued,  but unpaid,  interest as of July 31, 2002
into  shares  of  the  Company's  restricted,  unregistered  common  stock  at a
conversion  rate of $0.01 per share. As of December 31, 2002, the holders of the
notes had not exercised their right to convert.

                                       8
<PAGE>
                        Century Park Pictures Corporation

                    Notes to Financial Statements - Continued


NOTE G - RELATED PARTY TRANSACTIONS

Through  December 31, 2002, the Company's Chief  Executive  Officer has advanced
the Company  approximately  $16,435 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, 2002 and 2001,  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 the three  months  ended
December 31, 2002 and 2001, respectively, are as follows:

                                    Three months           Three months
                                        ended                 ended
                                     December 31,          December 31,
                                         2002                  2001
                                      ---------             ---------
      Federal:
       Current                        $      --             $      --
       Deferred                              --                    --
                                      ---------             ---------
                                             --                    --
                                      ---------             ---------
     State:
       Current                               --                    --
       Deferred                              --                    --
                                      ---------             ---------
                                             --                    --
                                      ---------             ---------
         Total                        $      --             $      --
                                      =========             =========

As  of  December  31,  2002,  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.

The Company's income tax expense for each of the three months ended December 31,
2002 and 2001,  respectively,  differed  from the  statutory  federal rate of 34
percent as follows:

<TABLE>
<CAPTION>
                                                                Three months      Three months
                                                                    ended            ended
                                                                 December 31,     December 31,
                                                                     2002             2001
                                                                  ---------        ---------
<S>                                                                <C>              <C>
Statutory rate applied to earnings (loss) before income taxes      $(6,990)         $(4,885)
 Increase (decrease) in income taxes resulting from:
  State income taxes                                                    --               --
  Other, including reserve for deferred tax asset                    6,990            4,885
                                                                   -------          -------

      Income tax expense                                           $    --          $    --
                                                                   =======          =======
</TABLE>

                                       9
<PAGE>
                        Century Park Pictures Corporation

                    Notes to Financial Statements - Continued


NOTE H - INCOME TAXES - CONTINUED

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, 2002 and 2001.

<TABLE>
<CAPTION>
                                                               Year ended September 30, 2002
                                                       ----------------------------------------------
                                                       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, 2001
                                                       ----------------------------------------------
                                                       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, 2002 and  2001, respectively, the valuation
allowance increased  (decreased) by approximately $-0- and $(5,000).  During the
years ended  September  30, 2002 and 2001,  respectively,  the Company  recorded
valuation allowances of $1,140,000,  respectively, on the deferred tax assets to
reduce the total amounts that  management  believes will ultimately be realized.
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.  There was no other
activity in the valuation allowance accounts

NOTE J - COMMITMENTS AND CONTINGENCIES

The Company  leases  office space under a  noncancellable  operating  lease that
expires  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,  2002  and  2001,
respectively.

                                       10
<PAGE>
PART I - 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  develops,  produces and markets 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.

A brief  synopsis of the Company's  former  operations  and  subsidiaries  is as
follows:

   International  Theatres Corporation (ITC) was a 100 percent owned subsidiary,
   which owned and  operated  the  Chanhassen  Dinner  Theatres  in  Chanhassen,
   Minnesota.  During the year ended  September 30, 1999, ITC was transferred to
   the Company's majority shareholder. During the normal course of business, ITC
   granted  credit to its  corporate  clients.  ITC  performed  on-going  credit
   evaluations of its customers'  financial  condition and generally required no
   collateral from them.

   Minnesota Arena Football,  Inc. d.b.a.  Minnesota Fighting Pike (Pike), a 100
   percent owned subsidiary,  was an indoor professional  football team that the
   Company  obtained  the rights to during the fiscal year ended  September  30,
   1996. The Pike ceased operations on August 31, 1996. As of December 31, 1999,
   Minnesota  Arena  Football  was  legally  dissolved.  During  the year  ended
   September 30, 2001, all  outstanding  liabilities of Minnesota Arena Football
   were written off.

   The Company had a 30 percent  investment  in Willy Bietak  Productions,  Inc.
   (WBPI),  which  produced  touring  ice  shows and theme  shows  appearing  in
   shopping  malls,  theaters,   casinos,  arenas,  and  major  amusement  parks
   throughout the United States.  During the year ended  September 30, 1999, the
   Company's  investment  in WBPI  was  transferred  to the  Company's  majority
   shareholder.

                                       11
<PAGE>
The Company has effectively 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, 2002
and 2001 were approximately $7,570 and $1,495, respectively. Interest expense on
the outstanding $400,000 in notes payable was approximately  $12,979 and $12,875
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.  For the period from August 1, 2002 through  September  30, 2002 and the
three months ended December 31, 2002,  the Company has recognized  approximately
$8,585 and  $12,979,  respectively,  in  additional  paid-in  capital due to the
suspended interest on these notes.

Net  income  (loss)  for the three  months  ended  December  31,  2002 and 2001,
respectively,  was approximately $(20,549) and $(14,370). Earnings per share for
the respective  quarters ended December 31, 2002 and 2001 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, 2001 and  September  30,  2001,  respectively,  the Company had
working capital of approximately $(1,047,812) and $(1,033,442).

Management  intends to  continue to restrict  expenditures  with  respect to the
future  development  of  entertainment  properties  and to market its  completed
properties.  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
liquidity.  The Company has no material  commitments for capital expenditures as
of December 31, 2002 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.

                                       12
<PAGE>
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 Officer and Chief Financial Officer.
Based upon that evaluation,  the Company's  President,  Chief Executive Officer,
and Chief 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.

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  Officer and Chief Financial  Officer as appropriate,  to allow timely
decisions regarding required disclosure.

                           PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

   None

ITEM 2 - CHANGES IN SECURITIES

   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 AND REPORTS ON FORM 8-K

   Exhibits - None

   Reports on Form 8-K - None

                                       13
<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 15, 2003                     /s/ Thomas K. Scallen
       ----------------                     ------------------------------------
                                                               Thomas K. Scallen
                                              Chairman, Chief Executive Officer,
                                            Chief Financial Officer and Director

                                       14
<PAGE>
                 CERTIFICATION PURSUANT TO 18 USC, SECTION 1350,
 AS ADOPTED PURSUANT TO SECTIONS 302 AND 906 OF THE SARBANES-OXLEY ACT OF 2002

In  connection  with the Quarterly  Report of Century Park Pictures  Corporation
(Registrant)  on Form 10-QSB for the quarter  ended  December 31, 2002, as filed
with the Securities and Exchange  Commission,  on the date hereof,  I, Thomas K.
Scallen,  Chief Executive  Officer and Chief  Financial  Officer of the Company,
certify  to the  best of my  knowledge,  pursuant  to 18 USC  1350,  as  adopted
pursuant  to ss.302 and  promulgated  as 18 USC 1350  pursuant  to ss.906 of the
Sarbanes-Oxley Act of 2002, that:

1.   I have  reviewed  this  Quarterly  Report on Form  10-QSB of  Century  Park
     Pictures Corporation for the quarter ended December 31, 2002.

2.   Based on my knowledge,  this  Quarterly  Report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  Quarterly  Report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     Quarterly Report;

4.   The registrant's other certifying  officers,  if any, and I are responsible
     for  establishing  and maintaining  disclosure  controls and procedures (as
     defined in Exchange  Act Rules  13a-14 and 15d-14) for the  Registrant  and
     have:

     1.   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  Registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  Quarterly
          Report is being prepared;

     2.   evaluated the  effectiveness of the Registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this Quarterly Report (the "Evaluation Date"); and

     3.   presented  in  this  Quarterly   Report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The Registrant's other certifying  officers,  if any, and I have disclosed,
     based on our most recent evaluation,  to the Registrant's  auditors and the
     audit committee of registrant's  board of directors (or persons  performing
     the equivalent functions):

     1.  all  significant  deficiencies  in the design or  operation of internal
         controls  which  could  adversely  affect the  Registrant's  ability to
         record,   process,   summarize  and  report  financial  data  and  have
         identified  for the  Registrant's  auditors any material  weaknesses in
         internal controls; and

     2.   any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  Registrant's  internal
          controls; and

6.   The Registrant's other certifying officers, if any, and I have indicated in
     this  Quarterly  Report  whether or not there were  significant  changes in
     internal  controls  or in other  factors  that could  significantly  affect
     internal  controls  subsequent  to the date of our most recent  evaluation,
     including any corrective  actions with regard  to significant  deficiencies
     and material weaknesses.


/s/ Thomas K. Scallen                                    Dated: January 15, 2003
------------------------                                        ----------------
Thomas K. Scallen
Chief Executive Officer and
Chief Financial Officer

                                       15