SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                  Quarterly Report Under Section 13 or 15 (d) of
                         Securities Exchange Act of 1934

                       For Period ended September 30, 2000
                         Commission File Number 0-26813


                              ALTREX INCORPORATED
             (Exact name of registrant as specified in its charter)

             NEVADA                            91-1932068
    (State of Incorporation)         (I.R.S. Employer Identification No.)

                       157 SOUTH HOWARD STREET, 6th Floor
                          SPOKANE, WASHINGTON 99201
             (Address of Principal Executive Offices) (Zip Code)

                                 (509) 252-3939
                                 --------------
             (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act
of 1934 during the preceding 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
                                -----     -----

Indicate the number of shares outstanding of each of the issuer's classes of
common stock at the latest practicable date.

As of September 30, 2000, the registrant had 25,000,000 shares of common
stock, $.001 par value, issued and outstanding.


<PAGE>

PART 1 - FINANCIAL INFORMATION

ITEM 1.  Financial Statements - Unaudited

         Balance Sheets as of December 31, 1999 and September 30, 2000.

         Income Statements for the three months ended September 30, 1999
         and September 30, 2000, and for the period from Inception
         (October 20, 1998) through September 30, 2000.

         Statements of Cash Flows for the three months ended September 30,
         1999 and September 30, 2000, and for the period from Inception
         (October 20, 1998) through September 30, 2000.

         Notes to Financial Statements

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

PART II - OTHER INFORMATION

Item 1.     Legal Proceedings.

Item 2.     Changes in Securities and Use of Proceeds.

Item 3.     Defaults Upon Senior Securities.

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

Item 5.     Other Information.

Item 6.     Exhibit and Reports on Form 8-K

            Exhibit

            Reports on Form 8-K

SIGNATURES

<PAGE>

PART 1 - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

                          Altrex Incorporated
                     (A Development Stage Company)
                       Unaudited Balance Sheets
              As of December 31, 1999 and September 30, 2000

                                        December 31,    September 30,
                                            1999            2000
                                          ------------     -----------

ASSETS
Cash                                    $         0      $        0
Organization Costs                                0               0
Accumulated Amortization                          0               0
                                        ------------     -----------

Total Assets                            $         0      $        0
                                        ============     ===========

LIABILITIES
Accounts Payable                        $         0      $        0
                                        ------------     -----------

STOCKHOLDERS' EQUITY
Common Stock:
Paid-In Capital, Par Value $0.001 per
Share, 75,000,000 Shares Authorized,
25,000,000 Shares Outstanding           $    2,500       $    2,500
Paid In Capital In Excess of Par Value       5,000            5,000
(Deficit) Accumulated During Development
Stage                                       (7,500)          (7,500)
                                        -----------      -----------

Total Stockholders' Equity              $        0       $        0
                                        -----------      -----------

Total Liabilities and Stockholders'
Equity                                  $        0       $        0
                                        ===========      ===========

         See accompanying notes to financial statements.

<PAGE>

                         Altrex Incorporated
                     (A Development Stage Company)
                      Unaudited Income Statements
             For the Three Months Ended September 30, 1999 and
                    September 30, 2000 and for the Period
        From Inception (October 20, 1998) through September 30, 2000


                               Three Months   Three Months    Inception
                                   Ended          Ended        Through
                               September 30,  September 30,  September 30,
                                    1999          2000           2000
                               ------------   ------------   -----------

Operating Revenues              $        0     $        0     $       0

Operating Expenses                       0              0         7,500
                               ------------   ------------   -----------

Net Income (Loss)               $        0     $        0     $   7,500
                               ============   ============   ===========

Per Share Information:
Basic and Diluted (Loss)
per Common Share                $    (0.00)    $    (0.00)    $   (0.00)

Weighted Average Shares
Outstanding (1)                 25,000,000     25,000,000    24,928,178


See accompanying notes to financial statements.


<PAGE>

                          Altrex Incorporated
                      (A Development Stage Company)
                        Statements of Cash Flows
             For the Three Months Ended September 30, 1999 and
                    September 30, 2000 and for the Period
        From Inception (October 20, 1998) through September 30, 2000


                             Three Months    Three Months      Inception
                                 Ended          Ended           Through
                             September 30,   September 30,    September 30,
                                  1999           2000             2000
                             ------------    ------------     -----------

Net Income (Loss)             $        0     $         0      $  (7,500)
                             ------------    ------------     -----------

Adjustments to Reconcile Net
Income to Net Cash Provided
From Operating Activities:
Amortization of Start-Up
Costs                                  0               0           7,500
                             ------------    ------------     -----------

Net Cash Provided From (Used In)
Operating Activities                   0               0               0

Cash Flows From (Used In)
Investing Activities:
Organization Costs                     0               0          (7,500)

Cash Flows From (Used In)
Financing Activities:
Common Stock Sold for Cash             0               0           7,500
                             ------------   -------------    ------------
Net Increase (Decrease)
in Cash                                0              0               0

Cash at Beginning of Period            0              0               0
                            -------------   -------------    ------------

Cash at End of Period          $       0     $        0      $        0
                            =============   =============    ============


          See accompanying notes to financial statements.


<PAGE>

                       Altrex Incorporated
                  (A Development Stage Company)
              Notes to Unaudited Financial Statements

NOTE 1 - BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of Altrex
Incorporated have been prepared in accordance with accounting principles
generally accepted in the United States for interim financial information and
with the instructions to Form 10-Q and Article 10 of Regulation S-X.
Accordingly, they do not include all of the information and footnotes required
by accounting principles generally accepted in the United States for complete
financial statements. In the opinion of management, all adjustments,
consisting only of normal recurring adjustments, considered necessary for a
fair presentation have been included. The results of the interim periods
presented herein are not necessarily indicative of the results to be expected
for any other interim period or the full year. These financial statements
should be read in conjunction with the consolidated financial statements and
notes thereto for the year ended December 31, 1999 included in the Company's
Form 10-KSB Annual Report for the year ended December 31, 1999.

<PAGE>


PART 1.  FINANCIAL INFORMATION

Management's Plan of Operations

The Company continues to maintain a zero cash balance.  However, the President
and Secretary/Treasurer (the Founders) have agreed to provide their services,
office space, and related supplies free of charge until such time as
management can raise the funding necessary to further advance its business
plan.

In management's opinion, the Company's current cash situation is sufficient
and adequate until additional capital can be raised to further implement the
Company's business plan (the "Plan"). At present, the Company remains in its
initial development stage.  Over the past several months, the Company has been
assessing the hardware/software requirements of its Plan, and researching and
compiling the data and other information necessary to set forth in more detail
the detailed operating budgets and future cash flowrequirements.  This
information includes requisite data for the Internet service provider ("ISP")
consolidations and/or acquisitions, and new customer projections that are the
focus of the Company's Plan.

Based on the detailed studies, resultant budgets, and cash flow projections
prepared during this initial phase, the Company will need to then proceed with
another offering in the next several months to raise the estimated $300,000 to
$500,000 needed to proceed with the second phase of its
Plan.  This phase includes the actual acquisition/consolidation of small
ISP's into the Company.

The third stage of the Company's Plan is the ongoing operation of these
acquired/consolidated ISP's and the targeting of additional customers thereto.

In order to remain a going concern, the Company must first complete the
initial stage of its Plan, and then be successful in its effort(s) to raise
additional capital, either through an offering, such as another 504 offering,
or through a private placement of its securities.  There are considerable
risks in the implementation of the Company's Plan, including insufficient
funding from future sale(s) of its securities, greater than expected costs to
acquire and/or consolidate smaller ISP's, greater than expected operating
costs, insufficient revenues from sales/operations, the competitive nature of
the ISP industry, and the "free" ISP connections that are presently being
offered by certain ISP's as an inducement to increase subscriber bases while
they rely on advertising revenues to cover operating costs  Without sufficient
cash flow, the Company would have to rely on existing cash flows and/or loans
from its Founders until such time as the Company could raise additional funds
to implement its Plan.

There are no current plans for product research and development. There are no
current plans to purchase or sell any significant amount of fixed assets.
There are no current plans to increase the number of employees.


PART II - OTHER INFORMATION

ITEM 1.      Not applicable.

ITEM 2.      The Company's Board of Directors approved a 10 for 1 forward
             split of the Company's common shares with a Pay Date of August
             17, 2000, and an ex-dividend date of August 18, 2000.  This
             effectively increased the issued and outstanding shares from the
             previous 2,500,000 shares to a present 25,000,000 shares.

ITEMS 3-4.   Not applicable.

ITEM 5.      Information required in lieu of Form 8-K: None

ITEM 6.      Exhibits and Reports on 8-K:

                  a)    Exhibit #27.1, "Financial Data Schedule"

                  b)    No reports on Form 8-K were filed during the
                        fiscal quarter ended September 30, 1999


                                   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.

        Altrex Incorporated


        Dated: October 4, 2000        /s/ Christopher George
                                        ----------------------
                                        Christopher George
                                        President