SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

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

        For the Quarterly period ended February 28, 2001

[ ]     TRANSITION  REPORT  UNDER  SECTION 13 OR 15(d) OF THE EXCHANGE ACT

        For  the  transition period from        to

Commission  file  number  000-25335

                               ELGRANDE.COM, INC.
(Exact  name  of  registrant  as  specified  in  its  charter)

              Nevada                                       88-0409024
(State  or  other  jurisdiction  of            (IRS Employer Identification No.)
incorporation  or  organization)

                Suite 308, 1040 Hamilton Street, Vancouver, B.C.
                                  V6B2R9 Canada
                    (Address of principal executive offices)

                                 (604) 689-0808
                           (Issuer's telephone number)


The  number  of  shares  outstanding  of  each of the issuer's classes of common
equity  as  of  the  latest  practicable  date:

      Class                    February  28,  2001
   Common  stock,
   $ 0.001 par value               14,427,148













<PAGE>



                               ELGRANDE.COM, INC.

                                TABLE OF CONTENTS


                                                                          Page
PART  I.     FINANCIAL  INFORMATION



                                ELGRANDE.COM INC.
                        CONSOLIDATED FINANCIAL STATEMENTS
                        =================================

                                FEBRUARY 28, 2001


                              WILLIAMS & WEBSTER PS
                          CERTIFIED PUBLIC ACCOUNTANTS
                          ============================
                        BANK OF AMERICA FINANCIAL CENTER
                        ================================
                           W 601 RIVERSIDE, SUITE 1940
                                SPOKANE, WA 99201
                                 (509) 838-5111


                                ELGRANDE.COM INC.

                                TABLE OF CONTENTS



INDEPENDENT  ACCOUNTANT'S  REVIEW  REPORT                                      1

FINANCIAL  STATEMENTS

     Consolidated  Balance  Sheets                                             2

     Consolidated  Statements  of  Operations  and Comprehensive Loss          3

     Consolidated  Statement  of  Stockholders' Equity (Deficit)               4

     Consolidated  Statements  of  Cash  Flows                                 5

NOTES  TO  FINANCIAL  STATEMENTS                                               6

















<PAGE>




Board  of  Directors
Elgrande.com,  Inc.
Vancouver,  B.C.
Canada

                           ACCOUNTANT'S REVIEW REPORT
                           --------------------------

We  have  reviewed  the accompanying consolidated balance sheet of Elgrande.com,
Inc.  as  of  February  28,  2001  and  the  related  consolidated statements of
operations and comprehensive loss, stockholders' equity (deficit) and cash flows
for the nine months ended February 28, 2001.  These financial statements are the
responsibility  of  the  Company's  management.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A  review  of  interim financial
information  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 in accordance with
auditing  standards  generally  accepted  in  the  United States of America, the
objective  of  which  is  the  expression  of an opinion regarding the financial
statements  taken  as  a whole.  Accordingly, we do not express such an opinion.

Based  on our review, we are not aware of any material modifications that should
be  made  to  the  accompanying  financial statements in order for them to be in
conformity with accounting principles generally accepted in the United States of
America.

The  financial statements for the year ended May 31, 2000 were audited by us and
we  expressed  an unqualified opinion on them in our report dated June 30, 2000,
but  we  have  not  performed  any  auditing  procedures  since  that  date.

As  discussed  in  Note  2,  the Company's realization of a major portion of its
assets  is  dependent  upon  the  Company's ability to meet its future financing
requirements,  and  the  success  of  future  operations.  These  factors  raise
substantial  doubt  about  the Company's ability to continue as a going concern.
Management's  plans  regarding  this  issue  are  also addressed in Note 2.  The
financial  statements  do not include any adjustments that might result from the
outcome  of  this  uncertainty.

/s/ Williams & Webster, P.S.

Williams  &  Webster,  P.S.
Certified  Public  Accountants
Spokane,  WA
April  3,  2001
















<PAGE>
                                ELGRANDE.COM INC.
                           CONSOLIDATED BALANCE SHEETS



                                                 February 28,       Year Ended
                                                     2001             May 31,
                                                  (Unaudited)          2000
                                                 --------------   --------------

ASSETS

CURRENT  ASSETS
  Cash                                           $      16,718    $      32,385
  Employee expense advances                             75,797           86,204
  GST tax refundable                                       705            4,549
  Prepaid expenses                                       1,132              -
                                                 --------------   --------------
TOTAL CURRENT ASSETS                                    94,352          123,138
                                                 --------------   --------------

PROPERTY  AND  EQUIPMENT
  Computer hardware                                     97,972           97,972
  Furniture and fixtures                                63,257           62,667
  Database and software                                545,645          545,645
  Less accumulated depreciation and amortization      (282,611)        (189,215)
                                                 --------------   --------------
TOTAL PROPERTY AND EQUIPMENT                           424,263          517,069
                                                 --------------   --------------

OTHER  ASSETS
  Deposits                                              28,951           29,622
  Investments                                           60,000           60,000
                                                 --------------   --------------
TOTAL OTHER ASSETS                                      88,951           89,622
                                                 --------------   --------------

TOTAL ASSETS                                     $     607,566    $     729,829
                                                 ==============   ==============
























See accountant's review report and accompanying notes.


<PAGE>

                                ELGRANDE.COM INC.
                           CONSOLIDATED BALANCE SHEETS



                                                 February 28,       Year Ended
                                                     2001             May 31,
                                                  (Unaudited)          2000
                                                 --------------   --------------

LIABILITIES & STOCKHOLDERS' EQUITY

CURRENT  LIABILITIES
  Accounts payable                               $     651,662    $     630,020
  Accrued liabilities                                   38,816           31,224
  Convertible notes and debentures                      61,103          161,920
  Current portion of capital lease                       5,639            7,977
  Loans payable                                         48,315              -
                                                 --------------   --------------
TOTAL CURRENT LIABILITIES                              805,535          831,141
                                                 --------------   --------------

LONG-TERM  DEBT
  Capital lease, net of current portion                  5,626           11,448
  Note payable related party                               -             30,000
                                                 --------------   --------------
TOTAL LONG-TERM LIABILITIES                              5,626           41,448
                                                 --------------   --------------
TOTAL LIABILITIES                                      811,161          872,589
                                                 --------------   --------------

COMMITMENTS AND CONTINGENCIES                              -                -
                                                 --------------   --------------

STOCKHOLDERS'  EQUITY  (DEFICIT)
  Common stock, 200,000,000 shares authorized,
  $.001 par value; 14,427,148 and 12,295,479
  shares issued and outstanding, respectively           14,427           12,295
  Stock options and warrants                           781,944          354,950
  Additional paid-in capital                        4,871,912         3,857,300
  Accumulated deficit                              (5,855,896)       (4,347,483)
  Accumulated other comprehensive income (loss)       (15,982)          (19,822)
                                                 --------------   --------------
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                 (203,595)         (142,760)
                                                 --------------   --------------
TOTAL LIABILITIES AND
  STOCKHOLDERS' EQUITY (DEFICIT)                 $    607,566     $     729,829
                                                 ==============   ==============















See accountant's review report and accompanying notes.

<PAGE>
                               ELGRANDE.COM, INC.
          CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

<TABLE>
                         For the Three Months Ended   For the Nine Months Ended
                      ------------------------------  ------------------------------
                       February 28,    February 29,    February 28,    February 29,
                           2001            2000            2001            2000
                        (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)
                      --------------  --------------  --------------  --------------
<S>                   <C>             <C>             <C>             <C>
REVENUES              $      28,266   $      60,110   $     107,016   $      60,110

COST OF REVENUES            (27,698)        (61,873)       (169,825)        (61,873)
                      --------------  --------------  --------------  --------------

GROSS PROFIT (LOSS)             568          (1,763)        (62,809)         (1,763)
                      --------------  --------------  --------------  --------------

OPERATING EXPENSES          104,114         383,902       1,441,989       4,581,373
                      --------------  --------------  --------------  --------------

LOSS FROM OPERATIONS       (103,546)       (385,665)     (1,504,798)     (4,583,136)

OTHER  INCOME  (EXPENSES)
Interest income                  65             -               194             -
Interest expense             (2,296)            -            (3,809)         (1,460)
                      --------------  --------------  --------------  --------------
                             (2,231)            -            (3,615)         (1,460)
                      --------------  --------------  --------------  --------------
NET LOSS BEFORE
 INCOME TAXES              (105,777)       (385,665)     (1,508,413)     (4,584,596)

INCOME TAXES                    -               -               -               -
                      --------------  --------------  --------------  --------------

NET LOSS                   (105,777)       (385,665)     (1,508,413)     (4,584,596)

OTHER COMPREHENSIVE
  INCOME  (LOSS)
Foreign currency
  translation gain
  (loss)                     (1,361)        (20,302)          3,840           4,042
                      --------------  --------------  --------------  --------------

COMPREHENSIVE LOSS    $    (107,138)  $    (405,967)  $  (1,504,573)  $  (4,580,554)
                      ==============  ==============  ==============  ==============

BASIC AND DILUTED
  NET LOSS PER
  COMMON SHARE        $       (0.01)  $       (0.04)  $       (0.11)  $       (0.42)
                      ==============  ==============  ==============  ==============

WEIGHTED AVERAGE
  NUMBER OF COMMON
  STOCK  SHARES
  OUTSTANDING,
  BASIC AND DILUTED      13,670,012      10,919,155      13,670,012      10,919,155
                      ==============  ==============  ==============  ==============





See accountant's review report and accompanying notes.

<PAGE>
ELGRANDE.COM  INC.
CONSOLIDATED  STATEMENT  OF  STOCKHOLDERS'  EQUITY  (DEFICIT)


</TABLE>
<TABLE>

                                                                                        Accum-       Total
                              Common Stock                    Stock                      ulated      Stock-
                        -----------------------   Additional  Options &    Accum-       Other         holders
                         Number                   Paid-in     Warrants     ulated      Compre-      Equity
                         Of Shares    Amount      Capital     Amount       Deficit       hensive     (Deficit)
                        -----------  ----------  -----------  ----------   -----------  ----------  ----------
<S>                      <C>         <C>         <C>          <C>          <C>          <C>         <C>

Balance, May 31, 1999    11,118,800   $  11,119   $1,952,671   $     -     $(1,208,160) $   18,158  $  773,788

Issuance of common stock
  at an average of $1.28
  per share and issuance
  of warrants at an
  average of $0.165 per
  warrant                   500,000         500      635,000     164,500           -            -      800,000

Options issued for
  consulting fees and
  compensation                  -           -            -       101,200           -            -      101,200

Issuance of warrants for
  professional fees             -           -            -        89,250           -            -       89,250

Issuance of common stock
  for cash at an average
  of $0.92 per share         168,333         168      154,832        -             -            -      155,000

Issuance of common stock
  for cash at $5.00
  per share                  153,000         153      764,847        -             -            -      765,000

Issuance of common stock
  for conversion of
  debt at $0.93 per share    168,628         168      156,656        -             -            -      156,824

Issuance of common stock
  for services at an
  average of $1.25 per
  share                       48,718          49       60,849        -             -            -       60,898

Issuance of common stock
  for cash at $1.00 per
  share                       25,000          25       24,975        -             -            -       25,000

Issuance of common stock
  for conversion of debt
  at $3.00 per share           5,000           5       14,995        -             -            -       15,000

Issuance of common stock
  in  exchange for debt
   at $0.67 per share        138,000          138      92,445        -             -            -       92,583

Stock rescinded upon
  termination                (30,000)         (30)         30        -             -            -          -

Loss for year ending
  May 31, 2000                   -            -           -          -      (3,139,323)         -   (3,139,323)

Foreign currency
  translation gain (loss)        -            -           -          -             -        (37,980)   (37,980)
                        -----------  ----------  -----------  ----------   -----------  ----------  ----------
Balance, May 31, 2000    12,295,479       12,295    3,857,300    354,950    (4,347,483)     (19,822)  (142,760)

</TABLE>










See accountant's review report and accompanying notes.

<PAGE>
ELGRANDE.COM  INC.
CONSOLIDATED  STATEMENT  OF  STOCKHOLDERS'  EQUITY  (DEFICIT) (continued)


<TABLE>

                                                                                        Accum-       Total
                              Common Stock                                               ulated      Stock-
                        -----------------------   Additional  Stock        Accum-       Other         holders
                         Number                   Paid-in     Options &     ulated      Compre-      Equity
                         Of Shares    Amount      Capital     Warrants     Deficit       hensive     (Deficit)
                        -----------  ----------  -----------  ----------   -----------  ----------  ----------
<S>                      <C>         <C>         <C>          <C>          <C>          <C>         <C>

Issuance of common stock
  for cash at an average
  of $0.50 per share       187,000         187       93,313        -              -            -       93,500

Common stock options
  exercised for cash and
  services at $0.39
  per share                550,000         550      214,450        -              -            -      215,000

Options issued for
  consulting fees              -           -            -      542,769            -            -      542,769

Stock issued for debt at
  $1.00 per share           67,000          67       66,933        -              -            -       67,000

Issuance of common
  stock for cash
  at an average of
  $0.50 per share          240,000         240      117,760        -              -            -      118,000

Options exercised
  at an average of
  $0.62 per share          227,000         227      140,200    (74,680)           -            -       65,747

Stock issued for
  services at $0.45
  per share                600,000         600      167,400        -              -            -      168,000

Stock issued for debt
  at an average of
  $0.54 per share          260,669         261      139,601        -             -             -      139,862

Options expired                -           -         74,955    (74,955)          -             -          -

Options issued as
  compensation                 -           -            -       33,860           -             -       33,860

Loss for nine months
 ended February 28, 2000       -           -            -          -      (1,508,413)          -   (1,508,413)

Foreign currency
 translation gain (loss)       -           -            -          -             -           3,840      3,840
                        -----------  ----------  -----------  ----------   -----------  ----------  ----------
Balance,
 February 28, 2001
 (unaudited)            14,427,148   $  14,427   $4,871,912   $ 781,944    $(5,855,896) $ (15,982)  $(203,595)
                        ===========  ==========  ===========  ==========   ===========  ==========  ==========
</TABLE>

















See accountant's review report and accompanying notes.

<PAGE>
                                ELGRANDE.COM INC.
                        CONSOLIDATED STATEMENT OF CASH FLOWS
<TABLE>
                                                Nine Months         Nine Months
                                                    Ended              Ended
                                                 February 28,      February 29,
                                                    2001               2000
                                                (Unaudited)         (Unaudited)
                                               --------------     --------------
<S>                                            <C>              <C>
Cash  Flows  From  Operating  Activities:
Net  loss                                      $  (1,508,413)     $  (4,584,596)
Adjustments to reconcile net loss to net
cash used by operating activities:
  Depreciation and amortization                       93,176             94,181
  Services paid by issuance of common stock
    and options                                      925,219             35,577
  Accounts receivable paid in stock                      137                -
  Options issued for compensation                     33,860          2,044,700
  Increase  (decrease)  in:
    Employee advance receivable                       10,407            (82,440)
    Other receivables                                  3,844            (34,410)
    Prepaids                                             -               51,401
    Other assets                                       (461)                -
    Accured liabilities                               7,592              40,547
    Accounts payable                                 21,642             656,271
                                               --------------     --------------
Net cash used in operating activities               (412,997)        (1,778,769)
                                               --------------     --------------
Cash  Flows  From  Investing  Activities:
Deposits returned                                        -               15,094
Payments on leased equipment                          (8,160)            (5,348)
Purchase of property and equipment                      (590)          (152,209)
Investment                                               -              (60,000)
                                               --------------     --------------
Net cash used in investing activities                 (8,750)          (202,463)
                                               --------------     --------------
Cash  Flows  From  Financing  Activities:
Proceeds from stock transactions                     277,797                -
Proceeds from loans                                  128,283             30,000
Issuance of stock and warrants                           -            1,720,001
                                               --------------     --------------
Net cash provided by financing activities            406,080          1,750,001
                                               --------------     --------------
Net increase (decrease)  in cash                     (15,667)          (231,231)
Foreign currency translation gain                        -              (12,395)
Cash, beginning of period                             32,385            371,266
                                               --------------     --------------
Cash, end of period                            $      16,718      $     127,640
                                               ==============     ==============

SUPPLEMENTAL  CASH  FLOW  DISCLOSURES:
Cash paid for interest and income taxes:
Interest                                       $         896      $         -
                                               ==============     ==============
Income taxes                                   $         -        $         -
                                               ==============     ==============
NON-CASH  TRANSACTIONS:
Stock issued for notes payable, related party  $      44,897      $      25,000
Services paid by issuance of stock and options $     959,079      $      35,557
Options isued for compensation                 $      33,860      $   2,044,700
Oversubscriptions  payable converted to debt   $         -        $     112,000
Lease agreement paid with stock                $         -        $      44,825
Debt converted to  stock                       $     161,965      $         -
</TABLE>
See accountant's review report and accompanying notes.
<PAGE>
                                ELGRANDE.COM INC.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                FEBRUARY 28, 2001

NOTE  1  -  ORGANIZATION  AND  DESCRIPTION  OF  BUSINESS

Elgrande.com  Inc.,  formerly   Intellicom  Internet   Corp  (hereinafter,  "the
Company"),  was incorporated in April 1998 under the laws of the State of Nevada
primarily  for  the  purpose  of developing and marketing internet applications,
specifically  for  books,  software,  audio and video media, and computer games.
The  Elgrande.com  site  is a stand-alone e-commerce site and its future purpose
will  be as a prototype demonstration site for the ShopEngine  suite of software
applications.  The  Elgrande.com  site  will  be  used to demonstrate ShopEngine
software  updates  and  as  a  marketing  tool  to  showcase the capabilities of
ShopEngine  to  prospective  shop supplies and shop operations.  The name change
to Elgrande.com Inc. was effective on September 19, 1998.  The Company maintains
an  office  in  Vancouver,  British  Columbia,  Canada.

Elgrande.com  Inc. formed a wholly owned subsidiary, Yaletown Marketing Corp, to
provide  management  and  administrative  services  for  the  Company.  Yaletown
Marketing  was  incorporated  February  23,  1999 in Victoria, British Columbia,
Canada.

The  Company's  year-end  is  May  31.


NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES

This  summary  of  significant  accounting  policies  of  Elgrande.com  Inc.  is
presented  to  assist  in understanding the Company's financial statements.  The
financial  statements and notes are representations of the Company's management,
which  is  responsible  for  their  integrity and objectivity.  These accounting
policies  conform  to  accounting  principles  generally  accepted in the United
States  of  America and have been consistently applied in the preparation of the
financial  statements.

Principles  of  Consolidation
-----------------------------
The  consolidated  financial  statements include the accounts of the Company and
its  subsidiaries.  All  significant intercompany transactions and balances have
been  eliminated in consolidation.  References herein to the Company include the
Company  and  its  subsidiary,  unless  the  context  otherwise  requires.

Going  Concern
--------------
The  accompanying  financial  statements  have  been  prepared assuming that the
Company  will  continue  as  a  going  concern.

As  shown  in  the  accompanying  financial statements, the Company incurred net
losses  of $1,523,034 and $4,584,596 for the nine months ended February 28, 2001
and  2000,  respectively.  As  of  February  28, 2001, the Company's liabilities
exceeded  its current assets by $711,183.  These circumstances raise substantial
doubt  about  the Company's ability to continue as a going concern.  The Company
is  currently  putting  technology  in place which will, if successful, mitigate
these factors.  The financial statements do not include any adjustments relating
to  the recoverability and classification of recorded assets, or the amounts and
classification  of  liabilities that might be necessary in the event the Company
cannot  continue  in  existence.

Management has established plans designed to increase the sales of the Company's
products.  Management  intends  to  seek  new capital from new equity securities
issuances  that  will  provide funds needed to increase liquidity, fund internal
growth  and  fully  implement  its  business  plan.



<PAGE>
                                ELGRANDE.COM INC.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                FEBRUARY 28, 2001


NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Accounting  Method
------------------
The  Company's  financial  statements  are  prepared using the accrual method of
accounting.  In  1999,  the Company changed its year-end from November 30 to May
31.

Earnings  per  Share
--------------------
The  Company  has  adopted Statement of Financial Accounting Standards Statement
(SFAS)  No. 128, Earnings Per Share.  Basic loss per share is computed using the
weighted  average  number  of  common shares, outstanding.  Diluted net loss per
share  is the same as basic net loss per share, as the inclusion of common stock
equivalents  would  be  antidilutive.  As  of February 28, 2001, the Company had
754,444 options outstanding and convertible debt of $48,315 that would have been
equal to 96,630 shares of common stock, which are considered to be antidilutive.

Cash  and  Cash  Equivalents
For  purposes  of  the  Statement  of  Cash  Flows,  the  Company  considers all
short-term  debt securities purchased with a maturity of three months or less to
be  cash  equivalents.

Provision  for  Taxes
---------------------
At  February  28,  2001,  the  Company  had  accumulated net operating losses of
approximately  $5,800,000.  No  provision  for  taxes  or  tax  benefit has been
reported  in  the  financial  statements,  as there is not a measurable means of
assessing  future  profits  or  losses.

Use  of  Estimates
------------------
The  process  of  preparing  financial  statements in conformity with accounting
principles  generally  accepted in the United States of America requires the use
of  estimates  and  assumptions  regarding certain types of assets, liabilities,
revenues,  and  expenses.  Such  estimates  primarily  relate  to  unsettled
transactions  and  events  as  of  the  date  of  the  financial  statements.
Accordingly,  upon settlement, actual results may differ from estimated amounts.

Compensated  Absences
---------------------
Employees  of  the  Company  are  entitled  to paid vacation, paid sick days and
personal days off, depending on job classification, length of service, and other
factors.  It  is impracticable to estimate the amount of compensation for future
absences,  and,  accordingly, no liability has been recorded in the accompanying
financial  statements.  The  Company's  policy  is  to  recognize  the  costs of
compensated  absences  when  actually  paid  to  employees.

Interim  Financial  Statements
------------------------------
The  interim  financial  statements  for  the  period  ended  February 28, 2001,
included  herein, have not been audited, at the request of the Company.  They do
reflect  all  adjustments, which are, in the opinion of management, necessary to
present  fairly  the results of operations for the period.  All such adjustments
are  normal  recurring  adjustments.  The  results  of operations for the period
presented  is  not  necessarily indicative of the results to be expected for the
full  fiscal  year.




<PAGE>
                                ELGRANDE.COM INC.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                FEBRUARY 28, 2001

NOTE  2  -  SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  (CONTINUED)

Foreign  Currency  Translation  Gains/Losses
--------------------------------------------
The  Company  has adopted Financial Accounting Standard No. 52.  Monetary assets
and  liabilities  denominated  in  foreign currencies are translated into United
States  dollars at rates of exchange in effect at the balance sheet date.  Gains
or  losses  are included in income for the year, except gains or losses relating
to  long-term  debt  which are deferred and amortized over the remaining term of
the debt.  Non-monetary assets, liabilities and items recorded in income arising
from  transactions  denominated in foreign currencies are translated at rates of
exchange  in  effect  at  the  date  of  the  transaction.

Advertising  Costs
------------------
Advertising  costs  are  charged  to  operations  when  they  occur.

Revenue  and  Cost  Recognition
-------------------------------
Revenues  and  costs  are  recognized  at  the  time  of  sale  of  products.

NOTE  3  -  PROPERTY  AND  EQUIPMENT

Property  and  equipment  are stated at cost.  Depreciation and amortization are
provided  using  the straight-line method over the estimated useful lives of the
assets.  The  useful  lives  of  property,  plant  and equipment for purposes of
computing  depreciation  and  amortization  are  five  to  seven  years.

Depreciation  and  amortization  expense  for the nine months ended February 28,
2001  and  2000  were  $91,981  and  $94,181,  respectively.

NOTE  4  -  INTANGIBLE  ASSETS

The Company has capitalized $545,645, which is the contractual cost of data base
software  purchased  from  an independent software supplier.  No portion of this
software  was internally developed and, accordingly, there are no internal costs
associated  with  this  software which were charged to research and development.
Consistent  with SOP 98-1, the costs of this software-which was purchased solely
for  internal  use  and  will  not be marketed externally-have been capitalized.

NOTE  5  -  COMMON  STOCK  AND  WARRANTS

Upon  incorporation, 4,000,000 shares of common stock were distributed at $0.001
per  share  to the board of directors for $4,000.  The succeeding share issuance
was  for  5,000,000  common  shares  at  $0.01  per  share  for  $50,000.  Under
Regulation  D, Rule 504, 943,800 shares of common stock were issued at $1.00 per
share for cash and subscriptions.  A May 1, 1999 issuance was for 300,000 units,
each  consisting  of  one  share of common stock and three common stock purchase
warrants  (Class  A,  Class B and Class C) at $3.00 per unit under Regulation D,
Rule  501.  Each  Class  A  warrant entitles the holder to acquire an additional
share  of  common  stock  for $7.50 per share at any time prior to May 31, 2006.
Each  Class  B  warrant  entitles  the  holder to acquire an additional share of
common  stock  for  $15.00  per share at any time prior to May 31, 2006 and each
Class  C  warrant  entitles  the holder to acquire an additional share of common
stock for $25.00 per share at any time prior to May 31, 2006.  The warrants have
no  assigned  value according to the Black-Scholes Option Price Calculation.  As
of  February  28,  2001,  none  of  the  warrants  have  been  exercised.

At  November  30,  1998,  $538,050  in  stock  subscriptions  was receivable and
subsequently  $491,305 of this was received by January 11, 1999.  The balance of
$46,745  was  collected  by  April  1999.

<PAGE>
                                ELGRANDE.COM INC.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                FEBRUARY 28, 2001

NOTE  5  -  COMMON  STOCK  AND  WARRANTS (CONTINUED)

At  May  31,  1999,  the  Company's  third stock offering was over-subscribed by
$112,000  and  at  November  30,  1998  the  Company's second stock offering was
over-subscribed  by  $90,000.  These  amounts  were  recorded  on  the Company's
balance  sheets  as  a  current liability.  The overage of $90,000 was repaid to
subscribers  in  December  1998.  The  overage  of  $112,000  was   subsequently
converted  to  a  loan  which  was  then  satisfied  with  stock.  See  Note 10.

At  May 31, 1999, 25,000 shares of common stock had been granted but not issued.
The Company valued the related services at $25,000 and, accordingly, recorded an
accrual  for  this  amount.  During  the  year ended May 31, 2000, the stock was
issued.

During  the  year  ended May 31, 2000, common stock shares were issued for cash,
services  and  debt  conversion.  The following common stock shares were issued:
646,333  shares  were  issued  for  $0.97  to  $5.00  per share in cash totaling
$1,221,015; 500,000 shares were issued with 1,000,000 warrants attached with the
stock  valued  at  $1.28 per share and the warrants at an average value of $0.16
per  warrant;  168,128  shares for debt in the total amount of $156,777;  48,718
shares  for  services  at  $1.00  to  $1.50 per share; 5,000 shares for accounts
payable at $3.00 per share; 138,000 shares for database expenses of $88,000; and
25,000  options  were  exercised  for  $1.00  per  share.  Upon  termination, an
employee  rescinded 30,000 shares previously treated as additional compensation.

In  March  2000,  the  Company issued 75,000 warrants for professional services.
Each  warrant  is exercisable for 5 years with a price of $1.87.  The fair value
of  each  warrant granted is estimated on the grant date using the Black-Scholes
Option  Price  Calculation.  The  following  assumptions were made in estimating
fair  value:  the  risk-free  interest  rate  is  5%, volatility is 0.3, and the
expected  life  of  the  warrants is five years.  The fair market value of these
warrants  of  $89,250  was  recorded  as professional fees pursuant to Financial
Accounting  Standard  No.  123.

During  the  nine  months  ended  February 28, 2001, the Company issued for cash
427,000  shares  of common stock at $0.50 per share and 600,000 shares of common
stock  for  services values at $168,000.  In the same nine month period, 327,669
common  stock  shares were issued in exchange for debt in the amount of $206,862
and 777,000 common stock options were exercised for cash of $66,297 and services
valued  at  $289,130.

NOTE  6-STOCK  OPTIONS

During  the year ended May 31, 2000, the Company's board of directors authorized
the  exercise  of  options  to acquire 135,000 common stock shares for $1.00 per
share.

On  June  11,  1999, the board of directors approved the Elgrande.com, Inc. 1999
Stock  Option  Plan.  This plan allows the Company to distribute up to 5,000,000
shares  of common stock shares to officers, directors, employees and consultants
through  the  authorization  of  the Company's board of directors.  The board of
directors also granted options to acquire 4,445,000 common stock shares at $3.00
per  share before June 11, 2004.  The Company's executive officers and directors
were  granted 4,225,000 of these options.  Subsequent to year-end, the Company's
executive  officers  and  directors  voluntarily returned all 4,225,000 of these
options  retroactively  to  the  date  of  the  grant.






<PAGE>
                                ELGRANDE.COM INC.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                FEBRUARY 28, 2001

NOTE  6-STOCK  OPTIONS  (CONTINUED)

The  fair value of each option granted was estimated on the grant date using the
Black-Scholes  Option Price Calculation.  The following assumptions were made to
estimate  fair value:  the risk-free interest rate is 5%, volatility is 0.5, and
the  expected  life  of  the options is five years.  Accordingly, $34,500 of the
options'  expense  was  initially  recorded  in  the Company's interim financial
statements  as compensation and the remaining options' expense of $2,010,200 was
recorded  as  consulting fees.  In accordance with Financial Accounting Standard
No.  123  paragraph  115,  the  recorded expenses were deemed to be an estimate,
subject  to  adjustment  by  decreasing the expense in the period of forfeiture.
Pursuant  to  the  return  of  the  aforementioned options, management decreased
compensation  and  consulting  expenses  by  the originally recorded $2,044,700.

In  September 1998, the Company adopted the Elgrande.com Inc. 1998 Directors and
Officers  Stock Option Plan, a non-qualified plan.  This plan allows the Company
to  distribute  up  to  1,000,000 shares of common stock to officers, directors,
employees  and  consultants  through the authorization of the Company's Board of
Directors.  In November 30, 1998, the Company issued 850,000 common stock shares
for  the services of consultants.  The Company valued these services at $50,000.
See  Note  7.

The  fair  value of each option granted is estimated on the grant date using the
Black-Scholes  Option Price Calculation.  The following assumptions were made in
estimating  fair  value:  risk-free  interest rate is 5%, volatility is 0.5, and
expected  life  is  5  years.  During  the year ending May 31, 1999, the Company
issued  1,000,000  common stock options that may be exercised at any time before
March  15,  2004  at $1.00 per share.  The strike price of these options exceeds
the  options' minimum value calculated using the Black-Scholes model, therefore,
no  compensation  costs  have  been  recognized pursuant to Financial Accounting
Standard  No.123.

During  the  nine months ended February 28, 2001, the board of directors granted
2,472,556  options  in exchange for consulting services and also granted 110,000
options  as  employee  compensation.   The  Company  valued  these  services  at
$651,309.  The options issued have an average exercise price of $0.45.  The fair
value  of  each  option  granted  is  estimated  on  the  grant  date  using the
Black-Scholes  Option Price Calculation.  The following assumptions were made in
estimating fair value:  risk free interest rate is 5% and 6%, volatility is 0.3,
and  expected  life  is  5  years.

The  following  is  a  summary  of  stock  option  activity:

                                        Number  of      Weighted Average
                                          Shares         Exerise Price
                                       ------------     ----------------
Outstanding at 4-8-98 (inception)          850,000     $     $0.06
  Granted                                1,000,000            1.00
  Exercised                                    -                -
  Forfeited                                    -                -
                                       ------------     ----------------
Outstanding at 5-31-99                   1,850,000      $     0.57
                                       ============     ================
Options exercisable at 5-31-99           1,170,000      $     0.86
                                       ============     ================







<PAGE>
                                ELGRANDE.COM INC.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                FEBRUARY 28, 2001

NOTE  6-STOCK  OPTIONS  (CONTINUED)

                                        Number  of      Weighted Average
                                          Shares         Exerise Price
                                       ------------     ----------------
Outstanding at 5-31-99                   1,850,000      $     0.57
  Granted                                  220,000            3.00
  Exercised                               (135,000)           1.00
  Forfeited                                    -                -
                                       ------------     ----------------
Outstanding at 5-31-00                   1,935,000      $     0.82
Options exercisable at 5-31-00           1,595,000      $     0.99
                                       ============     ================
Weighted average fair value of
options granted during 2000                             $     3.00
                                                        ================

Outstanding at 5-31-00                   1,595,000      $     0.82
  Granted                                2,582,556            0.45
  Exercised                               (777,000)           0.45
  Forfeited                               (465,556)           0.45
                                       ------------     ----------------
Outstanding at 2-28-01                   2,935,000      $     0.63
                                       ============     ================
Options exercisable at 2-28-01           2,935,000      $     0.63
                                                        ================
Weighted Average fair value of
options granted during 2001                             $     0.45
                                                        ================

NOTE  7  -  RELATED  PARTIES

Certain   consultants   which  received   common  stock   under  the  Company's
non-qualified  stock  option  plan  are  related  to the Company's directors and
stockholders.  Of  the  850,000  shares  issued  to consultants in 1999, 187,500
shares  were  issued to family members of directors who provided services to the
Company.  See  Note  6.

During the year ending May 31, 2000, the Company paid its officers and directors
$284,790  in  consulting  fees.  During the nine months ended February 28, 2001,
the  Company  paid  its  officers  and  director  $90,117  in  consulting  fees.

NOTE  8  -  COMMITMENTS  AND  CONTINGENCIES

Lease  Commitments
------------------
The  Company leases office space in Vancouver, B.C., Canada from Yaletown Centre
Investment Ltd. for $4,488 per month.   The lease is effective from September 1,
1998  to  August  31, 2001.  The terms of the lease required the Company to give
the  lessor a $5,407 refundable security deposit.  During the year ended May 31,
2000,  this  deposit  was  applied  to  rent.

Future  minimum  rental  commitments under the operating lease are as follows at
February  28,  2001:

Year  Ending  May  31,  2001     $13,464
Year  Ending  May  31,  2002      13,464
                                 -------
                                 $26,928
                                 =======


<PAGE>
                                ELGRANDE.COM INC.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                FEBRUARY 28, 2001

NOTE  8  -  COMMITMENTS  AND  CONTINGENCIES (CONTINUED)

Lease  Commitments (Continued)
------------------------------

The  Company  leases telephone equipment under a capital lease expiring June 23,
2002.  The asset and liability under the capital lease are recorded at the lower
of  the  present  value  of  the minimum lease payments or the fair value of the
asset.  Depreciation  of  the  asset  under  capital  lease  is  included in the
Company's  recorded  depreciation  expense.

Future  minimum  lease  commitments  under  the  capital  lease  are as follows:

Year  Ending  May  31,  2001       $4,143
Year  Ending  May  31,  2002        8,969
Year  Ending  May  31,  2003        2,479
                                 ---------
                                  $15,591
                                 =========

Disputed  Accounts
------------------
The  Company  is  currently  in  dispute with MacDonald Harris & Associates Ltd.
("MHA")  regarding  consulting and computer services for the Company's database.
Management  believes  that  there  are  no outstanding amounts due to MHA as all
accounts  payable  from the Company to MHA were paid in full and the Company has
transferred  138,000  shares of common stock which was due to MHA.  However, MHA
claims  that  additional  amounts  may  be  due,  including  common stock in the
Company,  which the Company disputes.  Management believes that MHA's claims are
without  merit and has made no provisions in the financial statements concerning
any  of  these  matters.  Further, management is taking steps to recover capital
equipment  purchased  on  behalf  of  the  Company  by  MHA.

NOTE  9  -  CONCENTRATION  OF  CREDIT  RISK  FOR  CASH  HELD  AT  BANKS

The  Company maintains cash balances at two banks.  Accounts at each institution
are  insured  by  the  Canadian  Depository  Insurance up to $60,000 in Canadian
funds.  At  February  28,  2001,  no  accounts  exceeded  this  limit.

NOTE  10  -  NOTES  AND  DEBENTURES  PAYABLE

Short-term  Notes
-----------------
Private  investors  have  loaned  the  Company $210,235, which is convertible to
common  stock  at  $0.50  per share.  In lieu of cash repayment of the loan, the
investors  were  entitled to receive common stock at a discounted rate of 20% of
the  closing  price of the stock on July 31, 2000.  At February 28, 2001, 67,000
shares of common stock were issued at $1.00 per share and another 215,727 shares
of  common  stock  were  issued  for  $94,920 to satisfy a portion of this loan.

A  related party, the father of the co-founder of Elgrande.com, Inc., has loaned
the  Company  $30,000  which  was  satisfied  with 44,942 shares of common stock
during  the  nine  months  ended  February  28,  2001.

Debentures
----------
In January 2001, the Company issued three $20,000, 12%, subordinated convertible
debentures.  The  debentures  mature  on January 1, 2002 and pay simple interest
quarterly  beginning  April  1,  2001.  The debentures are convertible to common
stock  at  a  conversion  price equal to the average closing bid price for the 5
trading  days  immediately  prior  to  the  conversion  date.

<PAGE>
                                ELGRANDE.COM INC.
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                FEBRUARY 28, 2001

NOTE  11  -  INVESTMENT  IN  INDIGO  CITY  PARTNERSHIP

In  June  1999,  the  Company  entered  into  an electronic media agreement with
Hydrogen Media, Inc. ("HMI"), whereby both parties agreed to build an e-commerce
web  site.  Under  the  partnership,  which  is  referred  to as the Indigo City
Partnership,  the Company will provide all content for the web site and HMI will
provide  all programming.  Both the Company and HMI will have a 50% ownership in
the  web  site  and  related  intellectual  property  rights.

The Company is obligated to pay a total of $60,000 to HMI for its services under
the  contract.  At the financial statement date, the Company had paid $30,000 in
cash  and  recorded  the  remaining $30,000 as an account payable.  This payable
obligation  is  due  in  two installments of $15,000, based upon a specified web
site  construction  timeline of completion of beta testing and launch of the web
site.















































<PAGE>

                               ELGRANDE.COM, INC.

Item  2. Management's Discussion and Analysis of Financial Condition and Results
of  Operation

Results  of  Operations
-----------------------

There  are  revenues  of  $28,266  for the three months ended February 28, 2001,
representing  sale  of merchandise, versus $60,110 as at February 29, 2000.  The
Company  activated  its  web  site  for  test purposes in June 1999 and is fully
operational  as  of  January  1,  2000.

Comparison  of  the  Nine Months  Ended  February  28,  2001  and  2000
-------------------------------------------------------------------------

A  summary  of expenses for the quarter ended February 2001 compared to the same
period  in  2000  is  as  follows:

                                                       2001            2000
                                                  -----------    ------------
          Consulting                                 578,519       2,363,442
          Marketing  and  public  relations               -          921,959
          Software  and  internet  fees               13,132         306,376
          Administration, legal and other            754,826         895,415
          Depreciation  and  amortization             95,512          94,181
                                                  -----------    ------------
                                                   1,441,989       4,581,373
                                                  ===========    ============

Software  costs  include  database  development  costs incurred of $1,315 in the
quarter  ended  February  28,  2001.  Elgrande  began  operating  under  its own
developed  database  in  January  2000,  thereby  eliminating  ongoing  expenses
incurred  through  Macdonald  Harris  &  Associates  accruing in the approximate
amount  of  $10,000  per  month.  While  the  company  continues to develop this
database  site,  it is currently identifying and sourcing technology partners to
assist  in  the  growth  of  its  database  technology.

Administration  costs  include  payroll  costs  of  $131,627  and general office
expenses  of $85,186 for the nine months  ended February 28, 2001,  compared  to
$296,690  and $433,641 respectively for the same period ended February 29, 2000.

The  Company  budgeted  its  cash requirements in order to develop the web based
contact  management system, and the central database that holds product data. To
date,  costs have been within the established budget.  The site was activated on
June  2,  1999  for  test  purposes.

Liquidity  and  Capital  Resources
----------------------------------

To  date,  the  Company has financed its development stage by the sale of common
stock.  The  Company  currently has insufficient cash to finance its operations,
but is actively pursuing several private placements.  An estimated $3 million is
believed  necessary  to  fully  execute  the  Company's  plan  of  operations.











<PAGE>
                               ELGRANDE.COM, INC.
                                    PART II.
                                OTHER INFORMATION


Item  6.  Exhibits  and  Reports  on  Form  8-K

(a)     Exhibits.

None.

(b)     Reports  on  Form  8-K relating to the quarter ended February 28, 2001.

The  Company  did  not  file  any  reports  on Form 8-K during the quarter ended
February  29,  2001.




                                   SIGNATURES

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

                                   ELGRANDE.COM,  INC.


By:  /s/  Michael  F.  Holloran
-------------------------------------
Michael  F.  Holloran
President  and  Chief  Executive  Officer


Dated:     April 15, 2001