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

                           FORM 10-QSB

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

     For the quarterly period ended March 31, 2001

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

     For the transition period from        to

                  Commission File No. 000-26017

                       GOURMET GIFTS, INC.
(Exact name of small business issuer as specified in its charter)

            Nevada                          880375818
(State or Other Jurisdiction of           (IRS Employer
Incorporation or Organization)         Identification No.)


              253 D'Emerald, Sparks, Nevada  89434
            (Address of principal executive offices)

                         (702) 254-5069
                   (Issuer's telephone number)

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

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

APPLICABLE  ONLY  TO  ISSUERS INVOLVED IN BANKRUPTCY  PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:

Check whether the registrant has filed all documents and reports
required  to  be  filed by Sections 12,  13,  or  15(d)  of  the
Exchange Act subsequent to the distribution of securities  under
a plan confirmed by a court.  Yes  [  ]  No  [  ]

APPLICABLE ONLY TO CORPORATE ISSUERS:
As  of  April  27, 2001, the Registrant had outstanding  896,000
shares of Common Stock, par value $0.001.

<PAGE>
FORM 10-QSB
                       GOURMET GIFTS, INC.

                              INDEX
                                                               Page

PART I.    Financial Information                                 2

           Independent Accountants Report                        3

           Balance Sheets - March 31, 2001 and                   4
           March 31, 2000

           Statements  of Operations -Three and Six Months       5
           Ended March 31, 2001 and 2000, and
           From Inception (September 24, 1997) to March 31, 2001

           Statement  of  Changes in  Stockholders' Equity       6
           From Inception (September 24, 1997) to March 31, 2001

           Statements of Cash Flows -Three and  Six Months       7
           Ended March 31, 2001 and 2000, and
           From Inception (September 24, 1997) to March 31, 2001

           Notes to Consolidated Financial Statements            8

           Management's  Discussion  and  Analysis, and         10
           Plan of Operation

PART II.   Other Information                                    11

SIGNATURES                                                      11



                             PART I.

FINANCIAL INFORMATION

     In the opinion of management, the accompanying unaudited
financial statements included in this Form 10-QSB reflect all
adjustments (consisting only of normal recurring accruals)
necessary for a fair presentation of the results of operations
for the periods presented.  The results of operations for the
periods presented are not necessarily indicative of the results
to be expected for the full year.

                                2

<PAGE>

DAVID E.COFFEY      3651 LINDELL ROAD, SUITE A, LAS VEGAS, NEVADA 89103
CERTIFIED PUBLIC ACCOUNTANT              (702) 871-3979




                 INDEPENDENT ACCOUNTANTS REPORT


To the Board of Directors and Stockholders
of Gourmet Gifts, Inc.
Reno, Nevada

     I have reviewed the accompanying financial statements of
Gourmet Gifts, Inc. for the three and six-month periods ended
March 31, 2001 and March 31, 2000.  These financial statements
are the responsibility of Gourmet Gifts, Inc.'s management.

     I conducted my review in accordance with standards
established by the American Institute of Certified Public
Accountants.  A review of interim financial consists principally
of applying analytical procedures to financial data and making
inquiries of persons responsible for financial and accounting
matters.  It is substantially less in scope than an audit
conducted in accordance with generally accepted auditing
standards, the objective of which is the expression of an opinion
regarding the financial statements taken as a whole.
Accordingly, no such opinion is expressed.

     Based on my review, I am not aware of any material
modifications that should be made to the accompanying financial
statements for them to be in conformity with generally accepted
accounting principles established by the American Institute of
Certified Public Accountants.


/s/ David E. Coffey C.P.A
David Coffey, C. P. A.
Las Vegas, Nevada
November 15, 2000

                                3
<PAGE>

                       GOURMET GIFTS, INC.
                  (A DEVELOPMENT STAGE COMPANY)
                         BALANCE SHEETS




                                        March 31,       March 31,
                                        2000           2000

ASSETS

Cash                                  $    183          $    746
Accounts receivable-stockholders             0                50
Prepaid expenses                             0             1,000

     Total Assets                     $    183          $  1,796

LIABILITIES & STOCKHOLDERS' EQUITY

Accounts payable                      $ 11,633         $       0
Notes payable to stockholders            6,950                 0
Interest payable                           354                 0

     Total Liabilities                  18,937                 0

Stockholders' Equity
 Common stock, authorized 25,000,000
  shares at $.001 par value, issued and
  outstanding 896,000 shares                896               896
 Additional paid-in capital              29,311            29,311
 Deficit accumulated during the
  development stage                     (48,961)          (28,411)

   Total Stockholders' Equity            18,754             1,796

Total Liabilities and Stockholders'   $     183        $    1,796


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

                                4
<PAGE>

                       GOURMET GIFTS, INC.
                  (A DEVELOPMENT STAGE COMPANY)
              STATEMENTS OF OPERATIONS AND DEFICIT
            ACCUMULATED DURING THE DEVELOPMENT STAGE
            (With Cumulative Figures From Inception)
<TABLE>
<CAPTION>

                                                                               From Inception,
                     Three months ended March 31,  Six months ended March 31,  Sept. 24, 1997, to
                               2001         2000       2001         2000       March 31, 2001

<S>                         <C>           <C>        <C>          <C>        <C>
Net sales                   $         0   $      0   $        0   $      0   $    6,015
Cost of goods sold                    0          0            0          0        2,543

     Gross profit                     0          0            0          0        3,472

Expenses
    Outside services                  0          0            0          0          200
    Consulting                        0          0            0          0       16,715
    Office expenses                   0          0            0          0          147
    Professional services         6,426          0       15,583          0       25,975
    Bank charges                      0         45           30         90          566
    Taxes and licenses                0          0            0        226          930
    Fees                              0        226          100         50          342
    Advertising                       0          0            0          0        1,799
    Spoilage                          0          0            0          0        3,293
    Loss on disposal of
       packaging supplies             0          0            0          0        1,942
    Rent                              0          0            0          0          170
    Interest                        192          0          303          0          354

Total expenses                    6,618        271       16,016        366       52,433

Net loss                         (6,618)      (271)     (16,016)      (366)  $  (48,961)

Retained earnings,
beginning of period             (42,343)   (28,140)     (32,945)   (28,045)

Deficit accumulated during
the development stage        $  (48,961)  $(28,411)  $  (48,961)  $(28,411)

Earnings ( loss ) per share
assuming dilution:
Net loss                     $    (0.01)  $   0.00   $    (0.02)  $   0.00   $   (0.07)

Weighted average
Shares outstanding              896,000    896,000      896,000    896,000     726,810
</TABLE>


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

                                5
<PAGE>
                       GOURMET GIFTS, INC.
                  (A DEVELOPMENT STAGE COMPANY)
          STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
   FOR THE PERIOD FROM SEPTEMBER 24,1997, (Date of Inception)
                        TO MARCH 31, 2001
<TABLE>
<CAPTION>

                                                                  Deficit accumul-
                                                       Additional  ated during the
                                      Common Stock      Paid-in     development
                                   Shares     Amount    Capital       stage        Total
<S>                               <C>        <C>       <C>        <C>           <C>
Balance,
September 24, 1997                     ---   $   ---   $    ---   $       ---   $      ---

Issuance of common stock for cash
September, 1997                    250,000       250      4,750             0         5,000

Balance, September 30, 1997        250,000       250      4,750             0         5,000

Issuance of common stock for cash
September, 1998                    646,000       646     31,654             0        32,300

Less offering costs                      0         0     (6,215)            0        (6,215)

Less net loss                            0         0          0        (1,320)       (1,320)

Balance, September 30, 1998        896,000       896     30,189        (1,320)       29,765

Less offering costs                      0         0       (878)            0          (878)

Less net loss                            0         0          0       (26,725)      (26,725)

Balance, September 30,1999         896,000       896     29,311       (28,045)        2,162

Less net loss                            0         0          0        (4,900)       (4,900)

Balance, September 30, 2000        896,000       896     29,311       (32,945)       (2,738)

Less net loss                            0         0          0       (16,016)      (16,016)

Balance, March 31, 2001            896,000   $   896   $ 29,311   $   (48,961)  $   (18,754)
</TABLE>


 The accompanying notes are an integral part of these financial
                           statements

                                6
<PAGE>

                       GOURMET GIFTS, INC.
                  (A DEVELOPMENT STAGE COMPANY)
                    STATEMENTS OF CASH FLOWS
             (With Cumulative Figures From Inception
<TABLE>
<CAPTION>
                                                                                          From Inception,
                              Three months ended March 31,  Six months  ended March 31,   Sept. 24, 1997, to
                                         2001       2000        2001          2000        to March 31, 2001
<S>                                    <C>        <C>        <C>          <C>        <C>
CASH FLOWS PROVIDED BY
OPERATING ACTIVITIES
Net Loss                               $ (6,618)  $   (271)  $  (10,590)  $   (366)  $  (48,961)
Non-cash items included in net loss           0          0            0          0            0
Adjustments to reconcile net loss to
cash used by operating activity
     Prepaid expenses                         0          0            0     (1,000)           0
     Note payable to stockholder          1,000          0        3,950          0        6,950
     Interest payable to stockholder        192          0          303          0          364
     Accounts payable                     5,426          0        6,207          0       11,633

NET CASH PROVIDED BY
OPERATING ACTIVITIES                          0       (271)        (130)    (1,366)     (30,024)

CASH FLOWS USED BY
INVESTING ACTIVITIES                          0          0            0          0            0

     NET CASH USED BY
     INVESTING ACTIVITIES                     0          0            0          0            0

CASH FLOWS FROM FINANCING
ACTIVITIES
     Sale of common stock                     0          0            0          0          896
     Paid-in capital                          0          0            0          0       36,404
     Less offering costs                      0          0            0          0       (7,093)

NET CASH PROVIDED BY
FINANCING ACTIVITIES                          0          0            0          0       30,207

NET INCREASE IN CASH                          0       (271)        (130)    (1,366)  $      183

CASH AT BEGINNING
 OF PERIOD                                  183      1,017          313      2,112

CASH AT END OF PERIOD                  $    183   $    746   $      183   $    746
</TABLE>

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

                                7
<PAGE>

                       GOURMET GIFTS, INC.
                  (A DEVELOPMENT STAGE COMPANY)
                NOTES TO THE FINANCIAL STATEMENTS
               MARCH 31, 2001, AND MARCH 31, 2000


NOTE A    SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          The Company was incorporated on September 24, 1997,
          under the laws of the State of Nevada.  The business
          purpose of the Company is the production and sale of
          gourmet gift items.  In August of 1999 the Company had
          ceased operations and liquidated its inventories.  The
          Company will resume operations if additional financing
          is obtained.

          The Company will adopt accounting policies and
          procedures based upon the nature of future
          transactions.

NOTE B    FISCAL YEAR

          In October of 1998 the Company adopted the period
          October 1 through September 30 as its fiscal year.

NOTE C    CHANGE OF INDEPENDENT ACCOUNTANTS

          Financial statements for the period ended September 30,
          1998, were audited by Albright, Persing & Associates,
          Ltd., of Reno, Nevada.  The Company named as its
          independent auditor David E. Coffey, CPA for the audit
          of September 30, 1999, financial statements.

NOTE D    OFFERING COSTS

          Offering costs are reported as a reduction in the
          amount of paid-in capital received for sale of the
          shares.

NOTE E    EARNINGS (LOSS) PER SHARE

          Basic EPS is determined using net income divided by the
          weighted average shares outstanding during the period.
          Diluted EPS is computed by dividing net income by the
          weighted average shares outstanding, assuming all
          dilutive potential common shares were issued.  Since
          the Company has no common shares that are potentially
          issuable, such as stock options, convertible securities
          or warrants, basic and diluted EPS are the same.

                                8
<PAGE>

                       GOURMET GIFTS, INC.
                  (A DEVELOPMENT STAGE COMPANY)
                NOTES TO THE FINANCIAL STATEMENTS
               MARCH 31, 2001, AND MARCH 31, 2000

(continued)

NOTE F    STOCK OFFERINGS

          In September of 1997, the Company completed the sale of
          250,000  shares of its common stock at $.02  per  share
          for  $5,000.   Then  in September of 1998  the  Company
          issued  another 646,000 shares of its common  stock  at
          $.05  per  share for a total of $32,300.  The  proceeds
          were  to be used for the production and sale of gourmet
          gift items.

NOTE G     RELATED PARTY TRANSACTIONS

          In  September of 1997 the Company issued 250,000 shares
          of its common stock to officers at $.02 per share for a
          total of $5,000.

          In May of 1999 the Company paid one of its shareholders
          $4,500   for  services  performed  to  complete  filing
          requirements of the Securities & Exchange Commission.

          Prior  to  ceasing  operations in August  of  1999  the
          Company  had  paid  two  of its  officers  $10,000  and
          $2,214, respectively, for consulting services performed
          during start-up of operations.

          In  June of 1999 the Company sold the remainder of  its
          packaging  inventory to a shareholder for  $500,  which
          resulted in a loss of $1,942.

          In August of 2000, a shareholder advanced $3,000 to the
          Company, evidenced by a Note payable in two years  plus
          12% annual interest, compounded.

          In December of 2000, a shareholder advanced $2,950 to
          the Company and took its Note payable in two years plus
          12% annual interest, compounded.

NOTE H     LIQUIDATION OF INVENTORY

          In  June  of 1999 the Company liquidated its inventory.
          Spoiled  perishable  items at a  cost  of  $3,293  were
          discarded  at  a total loss.  Packaging supplies  at  a
          cost  of  $2,442 were sold to a shareholder  for  $500,
          which  resulted in a loss of $1,942.  The Company  will
          resume operations if additional financing is obtained.

NOTE I    SUSPENSION OF OPERATIONS

          On  August 8, 1999, the Board of Directors resolved  to
          suspend  operations  in the gift box  business  and  to
          pursue other opportunities which may become available.

                                9
<PAGE>

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

Forward-Looking Statement Notice

     When used in this report, the words "may," "will," "expect,"
"anticipate," "continue," "estimate," "project," "intend," and
similar expressions are intended to identify forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of
1934 regarding events, conditions, and financial trends that may
affect the Company's future plans of operations, business
strategy, operating results, and financial position.  Persons
reviewing this report are cautioned that any forward-looking
statements are not guarantees of future performance and are
subject to risks and uncertainties and that actual results may
differ materially from those included within the forward-looking
statements as a result of various factors.

Three and Six Months Ended March 31, 2001 and 2000

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

     The Company had expenses of $6,618 for the three months
ended March 31, 2001, as compared to $271 for the same period in
2000.  The Company had expenses of $16,016 for the six months
ended March 31, 2001, as compared to $366 for the six months
ended March 31, 2000.  This increase in expenses is primarily
attributable to the administrative, legal, professional, and
accounting costs associated with the duties of a publicly
reporting company.

     As a result of the foregoing, the Company realized a net
loss of $16,016 for the six months ended March 31, 2001, as
compared to a net loss of $366 for the six months ended March 31,
2000.  Again, this increase in the Company's net loss is due to
the costs associated with being a reporting public company.

Liquidity and Capital Resources

     At March 31, 2001, the Company had cash on hand in the
amount of $183, accounts payable in the amount of $11,633, and
notes with interest payable to stockholders in the amount of
$7,304.  As a result, the Company had a working capital deficit
of $18,754, as compared to a working capital of $1,796 at March
31, 2000.  This decrease in working capital is primarily
attributable to the accounting and legal fees associated with
bringing the Company current in its reporting requirements with
the SEC.

     The Company has been able to meet its operational needs
through advances from major shareholders.  However, the Company
does not have sufficient cash to meet its operational needs for
the next twelve months.  Management, like in the past, will
attempt to raise capital for its current operational needs
through additional loans from its officers and shareholders, debt
financing, equity financing or a combination of financing
options.  However, there are no existing understandings,
commitments or agreements for such an infusion of capital, and
there are no assurances to that effect.  Moreover, the Company's
need for capital may change dramatically if and during that
period, it acquires an interest in a business opportunity.
Unless the Company can obtain additional financing, its ability
to continue as a going concern is doubtful.

     The Company's current operating plan is to (i) handle the
administrative and reporting requirements of a public company,
and (ii) search for potential businesses, products, technologies
and companies for acquisition.  At present, the Company has no
understandings, commitments or agreements with respect to the
acquisition of any business venture, and there can be no
assurance that the Company will identify a

                               10
<PAGE>
business venture suitable for acquisition in the future.
Further, there can be no assurance that the Company would be
successful in consummating any acquisition on favorable terms or
that it will be able to profitably manage any business venture it
acquires.

                   PART II.  OTHER INFORMATION

EXHIBITS AND REPORTS ON FORM 8-K

Exhibits

     None

Reports on Form 8-K

     None

                           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.

                              GOURMET GIFTS, INC


Date:  April 27, 2001         By: /s/ Johne Phelps
                              President


Date:  April 27, 2001         By: /s/ Lorrie A. Miller
                              Secretary/Chief Financial Officer

                               11
<PAGE>