UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.   20549


                                FORM 10-QSB
                Quarterly Report Under Section 13 or 15(d)
                  of the Securities Exchange Act of 1934.


For the quarter ended September 30, 2001   Commission file number 000-25415




                 Twin Faces East Entertainment Corporation
          (Exact name of registrant as specified in its charter)



Nevada                                                 22-3374562
(State or other jurisdiction of                        (I.R.S. Employer
incorporation or organization)                         Identification No.)

94 Arthur Hills Court
Henderson, Nevada                                      89074
(Address of principal executive offices)               (Zip Code)


                              (732) 763-0901
            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


   As of September 30, 2001, there were 5,627,349 shares of common stock
                               outstanding.

<PAGE>

                 TWIN FACES EAST ENTERTAINMENT CORPORATION
                            SEPTEMBER 30, 2001

                                   INDEX

PART I - FINANCIAL INFORMATION                              Page No.

     Item 1.   Financial Statements

               Balance Sheet as of September 30, 2001                3

               Statement of Stockholders' Equity
               for the three months ending September 30, 2001        4

               Income Statement for the three months
               ending September 30, 2001 and September 30, 2000      5

               Statement of Cash Flow for the three months           6
               ending September 30, 2001 and September 30, 2000

     Item 2.   Management's Discussion and Analysis of
               Financial Condition and Results of Operation          7-10


PART II - OTHER INFORMATION

     Item 1.   Legal Proceedings                                     9

     Item 2.   Changes in Securities                                 9

     Item 3.   Defaults by the Company upon its
               Senior Securities                                     9

     Item 4.   Submission of Matter to a Vote of
               Security Holders                                      10

     Item 5.   Other Information                                     10

     Item 6.   Exhibits and Reports of Form 8-K                      10

     SIGNATURES                                                      11

<PAGE>
<TABLE>
                 TWIN FACES EAST ENTERTAINMENT CORPORATION
                               BALANCE SHEET
                            SEPTEMBER 30, 2001

                      PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

                                  ASSETS
                                              September 30,  September 30,
                                                  2001           2000
<S>                                           <C>            <C>
Current Assets
  Regular Checking Accounts                             $52         $1,113
                                                -----------     ----------
Total Current Assets                                    $76         $1,113
                                                -----------     ----------
Property and Equipment
  Equipment                                            $477         $1,029
                                                -----------     ----------
Total Property and Equipment                           $477         $1,029
                                                -----------     ----------

Other Assets                                              -              -
                                                -----------     ----------
Total Assets                                           $529         $2,141
                                                ===========     ==========
</TABLE>
<TABLE>

                          LIABILITIES AND CAPITAL
<S>                                             <C>            <C>
Current Liabilities
  Accrued Salary                                   $586,115       $652,315
  Accrued Expenses                                   91,784         84,297
     Stockholders'    Loans   (un-reimbursed        421,856        351,592
expenses)
                                               ------------    -----------
Total Current Liabilities                        $1,099,755     $1,088,203

Long-Term Liabilities                                40,900         40,900
                                               ------------    -----------
Total Liabilities                                $1,140,655     $1,129,103
                                               ------------    -----------
Capital
  Common Stock                                        5,627          4,517
  Paid-in Capital                                   619,075        420,185
  Retained Earnings                             (1,725,358)      (943,360)
  Net Income                                       (39,470)      (608,304)
                                               ------------    -----------
Total Capital                                   (1,140,126)    (1,126.961)
                                               ------------    -----------
Total Liabilities and Capital                          $529         $2,141
                                               ============    ===========
</TABLE>
<PAGE>
<TABLE>
                 TWIN FACES EAST ENTERTAINMENT CORPORATION
                     STATEMENT OF STOCKHOLDERS' EQUITY
              FOR THE THREE MONTHS ENDING SEPTEMBER 30, 2001

                                                     Additional
                                   Common Stock       Paid-In    Accumulated
                                 Shares  Par Value    Capital      Deficit
<S>                             <C>       <C>        <C>        <C>
Balance 12-31-00                 5,627,349    5,627     619,075  (1,725,358)
Shares Issued To:
      Officer/Directors     for
services
  Consultants for services
  Cancelled Shares
  Other cash
Offering Costs
Net (loss)
                                 ---------  -------  ----------  -----------
Balance 9-30-01                  5,627,349    5,627     619,075  (1,725,358)
                                 =========  =======  ==========  ===========
</TABLE>
<PAGE>
<TABLE>

                 TWIN FACES EAST ENTERTAINMENT CORPORATION
                             INCOME STATEMENT
   FOR THE THREE MONTHS ENDING SEPTEMBER 30, 2001 AND SEPTEMBER 30, 2000

                                           September 30,    September 30,
                                                2001             2000
<S>                                        <C>             <C>
Revenues
  Finance Charge Income                                 $0            $122
                                               -----------     -----------
Total Revenues                                          $0            $122
                                               -----------     -----------
Cost of Sales                                            -               -
                                               -----------     -----------
Total Cost of Sales                                      -               -
                                               -----------     -----------
Gross Profit                                            $0            $122
                                               -----------     -----------
Expenses
Total Expenses                                         $24        $608,425
                                               -----------     -----------
Net Income (Loss)                                    ($24)      $(608,303)
                                               ===========     ===========
</TABLE>
<PAGE>
<TABLE>
                 TWIN FACES EAST ENTERTAINMENT CORPORATION
                          STATEMENT OF CASH FLOW
   FOR THE THREE MONTHS ENDING SEPTEMBER 30, 2001 AND SEPTEMBER 30, 2000

                                                    September   September
                                                       30,         30,
                                                      2001        2000
<S>                                                <C>         <C>
Cash Flows from operating activities
  Net Income (Loss)                                 ($39,470)   $(608,304)
Adjustments to reconcile net income to net cash
 provided by operating activities
   Accrued Salary                                           -      365,067
   Accrued Expenses                                         -       22,648
   Stockholders' advances                              39,207      178,295
                                                    ---------   ----------
Total Adjustments                                      39,207      566,011
                                                    ---------   ----------
Net Cash provided by Operations                         (263)     (42,293)
                                                    ---------   ----------
Cash Flows from investing activities Used For

  Net cash used in investing                                -            -
                                                    ---------   ----------
Cash Flows from financing activities
Proceeds From
  Common Stock                                                         133
  Paid-in capital                                                    (133)
                                                    ---------   ----------
                                                            -
Net cash used in financing                                  -       40,900
                                                    ---------   ----------
Net increase (decrease) in cash                        $(263)     ($1,393)
                                                    =========   ==========
Summary
  Cash Balance at End of Period                           $52       $1,113
  Cash Balance at Beginning of Period                  ($315)        2,506
                                                    ---------   ----------
Net Increase (Decrease) in cash                        $(263)     ($1,393)
                                                    =========   ==========

</TABLE>
<PAGE>

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

   The following discussion and analysis should be read in conjunction with
the   Company's  financial  statements  and  the  notes  thereto  contained
elsewhere in this filing.

Overview
     Twin  Faces East Entertainment Corporation, a Nevada corporation  (the
"Company")  is a development stage company formed in 1997. The Company  was
incorporated  under the laws of the State of Delaware on December  5,  1997
and  reincorporated under the laws of the State of Nevada on June 17, 1998.
The  re-incorporation  in the State of Nevada was the  result  of  Nevada's
policy  of  encouraging incorporation in that State and, in furtherance  of
that policy, has adopted comprehensive, modern and flexible corporate laws,
which are periodically updated and revised to meet changing business needs.
In  addition,  Nevada  continues  to pursue  a  position  of  no  corporate
taxation.

     We  have been plagued with insufficient capital from formation.   This
lack  of capital has prevented the Company from developing its product base
that  is  essentially  the production and marketing of  films  and  related
products.

Business of the Company

     We  are  in  the development stage as a producer of entertainment  and
educational  related programming and technology, which  originated  through
the  efforts  of  Dr.  Michael Smolanoff, a director  and  officer  of  the
Company.    Our  products include; (i), documentary  films  of  Dr.  Albert
Einstein,  and  (ii)  feature  film  and  television  scripts,  and   (iii)
children's books and music.

     The  Einstein Properties are the result of Dr. Smolanoff's acquisition
of  the  films  from Peter A. Buckey. Peter A. Buckey, the son  of  one  of
Albert Einstein's oldest and closest friends, provides a rare insight  into
Albert  Einstein's private life, opinions, and foibles that are now  folded
into  unique and rare videos.  The Company owns original 16mm film  footage
of  rare  moments  such  as the family vacation when  Einstein  wrote  that
fateful  letter to Franklin D. Roosevelt that led to the Manhattan Project.
Peter  was  Einstein's driver, and companion initiating extensive dialogue,
keeping copious notes, and storing and recording priceless memories.

     "Pages  From  A  Rabbit Journal"T, a children's book and  future  film
script  was  created by Dr. Smolanoff. The story is of The Rabbit  Family's
adventures  in  their  travels  through  the  forest  with  many  character
developments  along the path of their journey.  The story has  been  turned
into  a  series of twenty-two minute animated video episodes, each a cliff-
hanger and with a positive children's message.

     "The  Town That Arrested Santa Claus"T. A fully illustrated children's
story  with  a  merry cast of Christmas characters in the newly  discovered
village  of  Forgottenville.  Children of all ages  will  delight  in  this
unique classic tale, rich with the true meaning and tradition of Christmas.
Santa  and  Forgottenville's citizens are almost tricked by  Dr.  S.  Neak,

<PAGE>

until a young child comes to Santa's rescue.  This is anticipated to become
a  Christmas classic and will be available in book, audio cassette  and  to
become a television animated special.

Properties for Future Development

     In addition to the Einstein film, and Pages From a Rabbit Journal, the
Company has acquired, from Dr. Smolanoff, various other entertainment books
and  programming.   We plan to release these other products as our business
expands  and cash flows are adequate to launch new products.  We  have  not
established  definitive  time  frames  or  costs  of  launching  these  new
products.

     "Hidden  Treasures of the World"T. This is a series of one hour,  made
for  television, specials showcasing specific geographic locations  in  the
world  where billion dollar plus treasure discoveries were made.  The first
documentary "St. Lavra" from Kiev Russia is in development.

     "Jungle Bunch"T. "The Adventures of the Jungle Bunch"T is a children's
story  for  animation  that follows the adventures of  five  young  animals
searching for their families.  These five babies are brought together as  a
result  of a terrible storm, which separates them from their families.   It
is  a  continuing series that focuses on the concept of teamwork, which  is
somewhat  unique in the children's story. This teaches our children  in  an
entertaining  and receptive environment to overcome their  differences  and
work  together  for a common goal. This series is made for  television  and
home video placement.

     "Bixbee"T.  This is an animated CD ROM game that could  easily  evolve
into a television special.  Your child can be scanned into this interactive
program for fun and adventures with "Bixbee"T.

     "A  Real Man".  A script written by Johnnie King to be produced by the
Company.

Marketing
     Management  believes that, in the foreseeable future,  cash  generated
from  operations will be inadequate to support full marketing roll out  and
ongoing  product development, and that we will thus be forced  to  rely  on
additional debt and/or equity financing. Management is reasonably confident
that it can identify sources and obtain adequate amounts of such financing.
We  intend  to  enter  into  a cooperative arrangement  with  distributors,
whereby  we will receive marketing and sales benefits from the professional
staff  of  such  distributors.  To date, we have not established  any  such
arrangements.   In  the  event  we are unsuccessful  in  generating  equity
capital,  then  the  Company  will  be  unable  to  continue  with  product
development  and/or marketing.  The lack of equity capital  could  in  turn
cause the Company to become insolvent.


Results of Operations for the three months ended September 30, 2001 and
September 30, 2000

      Total operating expenses from continuing operations were $24 for  the
three  months ended September 30, 2001 compared to $608,303 for  the  three
months ended September 30, 2000.  Utilizing an average daily calculation of
operating expenses of $.27 for the period ending September 30, 2001, and an
average  daily calculation of operating expenses of $6,760 for  the  period
ending September 30, 2000, this represented a 99% decrease in average daily
operating expenses.

<PAGE>

      The  decrease in expenses was primarily the result of the Company  no
longer accruing salaries for any officer of the company expenses during the
period  ending  September 30, 2001.  Further, the  legal  and  professional
expenses  were  zero  and no employee expenses were submitted  for  expense
reimbursement.

Forward-Looking Statements and Associated Risks

     This   Quarterly   Report  on  Form  10-QSB  contains  forward-looking
statements  made pursuant to the safe harbor provisions of  the  Securities
Litigation Reform Act of 1995.  These forward looking statements are  based
largely on the Company's expectations and are subject to a number of  risks
and  uncertainties,  many  of  which  are  beyond  the  Company's  control,
including,  but  not limited to, economic, competitive  and  other  factors
affecting   the  Company's  operations,  markets,  products  and  services,
expansion  strategies and other factors discussed elsewhere in this  report
and  the  documents filed by the Company with the Securities  and  Exchange
Commission.   Actual  results could differ materially from  these  forward-
looking  statements.  In light of these risks and uncertainties, there  can
be  no  assurance  that the forward-looking information contained  in  this
report  will  in fact prove accurate.  The Company does not  undertake  any
obligation  to  revise these forward-looking statements to  reflect  future
events or circumstances.

Liquidity and Capital Reserves

As of September 30, 2001 and September 30, 2000 (Unaudited)

     As  of  September  30, 2001, the Company's assets were  $529  and  its
liabilities  were  $1,140,655,  resulting  in  an  deficit  of  assets   of
($1,140,126).  Cash was $52 at September 30, 2001 as compared  to  cash  of
$1,113 on September 30, 2000, a decrease of $1,061. This represented a  95%
decrease  in available cash. This decrease was primarily the result  of  an
increase in operating expenses and zero income.

     The  Company  has continued since inception to fund its  deficit  cash
flow  from  private  placements of the Company's common stock,  loans  from
officers and directors, and a long-term loan from a private investor. It is
anticipated  that loans and the sale of the Company's stock  will  continue
until  such  time  as the Company generates sufficient  revenues  from  its
operations to cover operating expenses.

PART II--OTHER INFORMATION

Item 1.       Legal Proceedings.

     None.

Item 2.       Changes in Securities.

     None.

<PAGE>

Item 3.       Defaults by the Company upon its Senior Securities.

     None.
Item 4.       Submission of Matter to a Vote of Security Holders.

     None.

Item 5.       Other Information.

     None.

Item 6.       Exhibits and Reports of Form 8--K.

     None.

<PAGE>

                                SIGNATURES


     Pursuant  to the requirements of the Securities Exchange Act of  1934,
the  Registrant has duly caused this report to be signed on its  behalf  by
the undersigned, thereunto duly authorized.


TWIN FACES EAST ENTERTAINMENT CORPORATION
(Registrant)



By:/s/ Michael Smolanoff                  By:/s/ Stanley Teeple
  Michael Smolanoff                          Stanley L. Teeple
  CEO, President                             Secretary/ Treasurer


Date: November 11, 2001                   Date: November 11, 2001