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

                                   Form 10-QSB

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

                                   For the quarterly period ended March 31, 2001

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

                For the transition period from  _____________ to  _____________

                        Commission file number 000-32045

                               Natexco Corporation
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

            Nevada                                     84-1480636
-------------------------------            -------------------------------------
 (State or other jurisdiction of           ( I.R.S. Employer Identification No.)
incorporation or organization)

          3255 Norfolk Road, Victoria, British Columbia, Canada V8R 6H5
         ---------------------------------------------------------------
                    (Address of principal executive offices)

                                 (250) 598-2373
                           --------------------------
                           (Issuer's telephone number)

             -------------------------------------------------------
             (Former name, former address and former fiscal year, if
                           changed since last report)

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

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes X No ___
                                                 ---

                      APPLICABLE ONLY TO CORPORATE ISSUERS

                                       1
<PAGE>

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 2,400,000 shares of common stock,
$.001 par value per share, outstanding as of June 28, 2001.

Transitional Small Business Disclosure Format (Check one):  Yes ____  No    X
                                                                         -------



                                       2
<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

Natexco Corporation
Consolidated Balance Sheet
(A Company in the Development Stage)
-------------------------------------------------------------------------
                                               Unaudited      Audited
                                                 March        December
                                               31, 2001       31, 2000
                                               --------       --------
ASSETS
------
Current Assets:

Cash and cash equivalents                          $632         $8,076
                                                   ----         ------

Total Current Assets                                632          8,076
                                                   ----          -----

Property and equipment                            6,466          6,466
Less Accumulated Depreciation                    (5,014)        (4,693)
                                                -------        -------

Net Property and Equipment                        1,452          1,773

Goodwill                                         22,083         22,083
Less Accumulated Amortization                     (7360)        (4,600)
                                                 ------        -------

Net Goodwill                                     14,723         17,483
                                                 ------         ------

TOTAL ASSETS                                    $16,807        $27,332
                                                =======        =======

LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------
LIABILITIES

Bank Overdraft                                   $2,122             $0
Note Payable - Shareholder                       20,000         20,000
Accounts Payable                                    935            325
Other accrued liabilities                         2,057          1,557
                                                  -----          -----

Total current liabilities                        25,114         21,882

TOTAL LIABILITIES                                25,114         21,882
                                                 ------         ------


SHAREHOLDERS' EQUITY:*

                                       3
<PAGE>

Preferred stock, par value $.001 per share;
 Authorized 5,000,000 Shares; Issued
 and outstanding 50,000                              50             50

Common Stock, $.001 Par Value;
 Authorized 20,000,000 Shares; Issued
 and outstanding 2,400,000 shares                 2,400          2,400

Additional paid-in capital                       50,250         49,350

Accumulated deficit                             (61,007)       (46,350)
                                                -------        -------

TOTAL SHAREHOLDERS' EQUITY                       (8,307)         5,450
                                                 ------          -----

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY      $16,807        $27,332
                                                =======        =======

         See Accompanying Notes To These Unaudited Financial Statements.



                                       4
<PAGE>




Natexco Corporation
Unaudited Consolidated Statement Of Operations
(A Company in the Development Stage)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                                                                                                  Period From
                                                                 3 Months         3 Months         Inception
                                                                   Ended           Ended         March 3, 1998
                                                                   March           March            Through
                                                                 31, 2001         31, 2000      March 31, 2001
                                                                 --------         --------      --------------

<S>                                                                  <C>              <C>            <C>
Revenue:                                                            $720              $0            $2,005

Operating Expenses:

Accounting                                                         2,100               0            17,600
Amortization and depreciation                                      3,081               0             8,825
General and administrative                                         4,172               2            10,762
Legal                                                              4,399               0            12,178
Occupancy                                                            900               0            10,200
Stock transfer                                                       225               0             1,390
                                                                     ---               -             -----




Total costs and expenses                                          14,877               2            60,955
                                                                  ------               -            ------

Income (loss) from operations                                    (14,157)             (2)          (58,950)

Other (expense) - Interest                                          (500)              0            (2,057)
                                                                   -----              --            ------

Net (Loss)                                                      $(14,657)            ($2)         $(61,007)
                                                                ========            ====           =======

Basic (Loss) per common share                                      (0.01)          (0.00)
                                                                   =====           =====

Weighted Average Common Shares Outstanding                     2,400,000       2,400,000
                                                               =========      ==========


</TABLE>







                See Accompanying Notes To These Unaudited Financial Statements.





                                       5
<PAGE>
Natexco Corporation and Subsidiary
Consolidate Statements of Changes In Shareholders' Equity
(A Company in the Development Stage)
March 3, 1998(Inception) Through March 31, 2001
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                                                                                                                   Deficit
                                                                                                                  Accumulated
                                                                                                   Additional     During the
                                                     Preferred Stock           Common Stock          Paid In      Development
                                                    Shares   Par Value      Shares    Par Value     Capital         Stage     Total
                                                    ------   --------       ------    ---------     -------         -----     -----
<S>                                                    <C>    <C>               <C>     <C>           <C>           <C>        <C>
Balances, March 3, 1998 (inception)                     0      $0                0       $0            $0            $0         $0

Sales of preferred shares, December 5, 1998        10,000      10                                      90                      100
Office space contributed by Company's president                                                     2,000                    2,000
Net (Loss)                                                                                                       (2,008)    (2,008)

Balances, December 31, 1998                        10,000      10                0        0         2,090        (2,008)        92

Common shares sold in private offering,
  March 31, 1999                                                         2,400,000    2,400                                  2,400
Office space contributed by Company's president                                                     2,400                    2,400
Net (Loss)                                                                                                       (2,635)    (2,635)

Balances, December 31, 1999                        10,000      10        2,400,000    2,400         4,490        (4,643)     2,257

Sale of preferred shares, May 18, 2000             40,000      40                                  39,960                   40,000
Office space contributed by Company's president                                                     4,900                    4,900
Net (Loss)                                                                                                      (41,707)   (41,707)

Balances, December 31, 2000                        50,000      50        2,400,000    2,400        49,350       (46,350)     5,450

Office space contributed by Company's president                                                       900                      900
Net (Loss)                                                                                                      (14,657)   (14,657)

Balances, March 31, 2001                           50,000     $50        2,400,000   $2,400       $50,250      ($61,007)   ($8,307)
                                                   ======     ===        =========   ======       =======       =======     ======
</TABLE>



        See Accompanying Notes To These Unaudited Financial Statements.

                                       6

<PAGE>




Unaudited Consolidated Statement Of Cash Flow
(A Company in the Development Stage)
--------------------------------------------------------------------------------
<TABLE>
<CAPTION>

                                                                                            Period From
                                                                3 Months      3 Months       Inception
                                                                 Ended         Ended       March 3, 1998
                                                                 March         March          Through
                                                                31, 2001      31, 2000    March 31, 2001
                                                                --------      --------    --------------
Cash Flows From Operating Activities:


<S>                                                            <C>              <C>          <C>
Net (Loss)                                                     $(14,657)        $(2)         $(61,007)

Adjustments to reconcile net loss to net cash
used in operating activities:

Depreciaton and amortization                                      3,081           0             8,825
Office space contributed by shareholder                             900           0            10,200

Increase in accounts payable                                        610           0               935
Increase in other accrued liabilities                               500           0             2,057
                                                                    ---          --             -----

Net Cash Flows (used) in operations                              (9,566)         (2)          (38,990)
                                                                  -----         ---            ------

Cash Flows From Investing Activities:

Purchase of subsidiary                                                0           0           (25,000)
                                                                     --          --            ------

Net Cash Flows (used) in Investing activities                         0           0           (25,000)
                                                                     --          --            ------

Cash Flows From Financing Activities:

Proceeds from note payable                                            0      20,000            20,000
Issuance of preferred stock                                           0      10,000            40,100
Issuance of common stock                                              0           0             2,400
                                                                     --          --             -----

Net Cash Flows provided by financing activities                       0      30,000            62,500
                                                                     --      ------            ------


Net Increase (Decrease) In Cash and cash equivalents             (9,566)     29,998            (1,490)
Cash and cash equivalents at beginning of period                  8,076       2,477                 0
                                                                  -----      ------                 -

Cash and cash equivalents at end of period                      ($1,490)    $32,475           ($1,490)
                                                                 ======     =======            ======


Supplementary Disclosure Of Cash Flow Information:

Non-cash activities: Rent provided by shareholder                  $900          $0                $0
                                                                   ====          ==                ==
</TABLE>

                See Accompanying Notes To These Unaudited Financial Statements.



                                       7
<PAGE>



Natexco Corporation and Subsidiary
Notes To Unaudited Financial Statements
For The Three Month Period Ended March 31, 2001
-----------------------------------------------

Note 1 - Unaudited Financial Information

The unaudited financial  information included for the three month interim period
ended  March 31,  2001 was  taken  from the books  and  records  without  audit.
However,  such information  reflects all adjustments  (consisting only of normal
recurring  adjustments,  which are of the opinion of  management,  necessary  to
reflect  properly the results of the interim period  presented).  The results of
operations  for the three month period ended March 31, 2001 are not  necessarily
indicative of the results expected for the fiscal year ended December 31, 2001.

Note 2 - Financial Statements

For a complete set of footnotes,  reference is made to the  Company's  Report on
Form 10K-SB for the year ended  December  31, 2000 as filed with the  Securities
and Exchange Commission and the audited financial statements included therein.


                                       8
<PAGE>



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

Plan of Operation

         Our plan of operation  for the next twelve  months is to focus upon the
marketing and sale of our SEI security  software  product  through  advertising,
attendance at trade shows and online marketing,  primarily. In order to commence
the  implementation  of this  plan,  we have  placed  advertisements  in "Common
Ground" and "Managers  Report," two of the principal  property  management trade
magazines.  Additionally,  we intend to continue our  research  and  development
program,  utilizing the services of Mr. John H. Tetstill,  President of Security
Software,  at no cost, to develop additional features for SEI, including visual,
voice, fingerprint and eyeball identification  recognition technology,  in order
to  enhance  the  product  and  make  it more  attractive  and  serviceable  for
prospective customers and continue preliminary work on the revision,  adaptation
and/or  expansion of the SEI software  program to function in  conjunction  with
other security  software.  We have allocated the sum of $5,000 that we expect to
cover  the  cost of the  technology  for the  proposed  enhancements  to the SEI
security  software and limited  additional  work. We are unable to calculate the
cost of our plan of  operations  over the next  twelve  months,  except  for the
estimated  cost of $5,000 of our research  and  development  program.  If we are
successful  in our efforts to raise  additional  funding from equity and/or debt
financing, we intend to allocate the bulk of those funds for marketing, although
a portion of the funds would be allocated for research and  development as well.
Future research and  development to effectuate the proposed  enhancements to SEI
and produce new  products  will  require the  services of  independent  computer
programmers  retained on a contract  basis.  We have no organized  plan to raise
additional  capital and our  fund-raising  efforts have been  minimal  since our
purchase,  on June 30,  2000,  of Security  Software.  We intend to increase our
efforts to raise capital,  exploring all available  alternatives for debt and/or
equity financing,  including,  but not limited to, private and public securities
offerings,  although we cannot be certain that these efforts will be successful.
We do not  expect  the  purchase  or  sale  of any  significant  equipment  or a
significant change in the number of employees for the next twelve months.

Results of Operations

         During the three months  ended March 31, 2001,  we sold no SEI security
software  packages.  We  attribute  the lack of sales to our  inability to raise
additional capital for marketing,  primarily. Our revenues decreased to $-0- for
the three months ended March 31, 2001,  as compared to $720 for the three months
ended March 31, 2000.

         During the three months ended March 31, 2001,  our  operating  expenses
increased to $14,877  from $2 for the three  months  ended March 31,  2000.  The
operating  expenses  that we incurred  during the three  months  ended March 31,
2001,  include  accounting  ($2,100),  amortization and  depreciation  ($3,081),
general and administrative ($4,172), legal ($4,399),  occupancy ($900) and stock
transfer ($225).

                                       9
<PAGE>

Financial Condition and Liquidity

         At March 31,  2001,  Natexco had a working  capital  deficit of $24,482
consisting  of current  assets  totaling $632 and current  liabilities  totaling
$25,114.  Our working capital deficit at March 31, 2001, increased by $10,676 as
compared to our working  capital  deficit at December 31, 2000, of $13,806.  The
increase  in the  working  capital  deficit  was the result of the  decrease  of
$7,444, from $8,076 to $632, in our cash and cash equivalents,  a bank overdraft
of $2,122,  an increase of $600 in accounts  payable,  from $325 to $935, and an
increase of $500, from $1,557 to $2,057, in other accrued liabilities.

         During the three months ended March 31, 2001, we used cash of $9,566 as
compared to $29,998 in cash  provided  during the three  months  ended March 31,
2000. We used $9,566 in operating activities.

Inflation

         We  believe  that  inflation  has  not  had a  material  impact  on our
business.

Seasonality

         We do not believe that our business is seasonal.



                                       10
<PAGE>

                          PART II -- OTHER INFORMATION

Item 1.  Legal Proceedings.

         We  know  of  no  legal   proceedings  to  which  Natexco   Corporation
("Natexco")  is a party or to which any of its  property is the subject that are
pending,  threatened  or  contemplated  or  any  unsatisfied  judgments  against
Natexco.

Item 2.  Changes in Securities.

         (a) No  instruments  defining the rights of  shareholders  of Natexco's
common stock have been modified.

         (b) No rights  evidenced by Natexco's common stock have been limited or
qualified by the issuance or modification of any other class of securities.

         (c) Natexco sold no equity  securities  during the quarter  ended March
31, 2001, covered by this report.

         (d)  Natexco  has not yet  filed a  registration  statement  under  the
Securities Act of 1933.

Item 3.  Defaults Upon Senior Securities.

         Natexco has no indebtedness as of the date of this report.

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

         No matter was submitted to a vote of Natexco's  shareholders,  by means
of the solicitation of proxies or otherwise,  during the quarter ended March 31,
2002, covered by this report.

Item 5.  Other Information.

         There  is no  information  with  respect  to which  information  is not
otherwise called for by this form.

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

         (a)      Index to Exhibits.

Item Number                           Description
-----------                           -----------
    3.1*         Articles of Incorporation of Natexco Corporation filed
                 March 3, 1998.

    3.2*         Bylaws of Natexco Corporation.


                                       11
<PAGE>

  10.1*          Promissory Note dated March 21, 2000, in the principal amount
                 of $20,000 payable by Natexco Corporation to Aboyne Management,
                 Ltd.
------------------

         *Incorporated  by reference to the Amendment No. 1 to the  Registration
Statement on Form 10-SB (File No. 000-32045) filed November 30, 2000.

         (a)      Reports on Form 8-K.

         No reports on Form 8-K were filed  during the  quarter  ended March 31,
2001, for which this report is filed.



                                       12
<PAGE>






                                   SIGNATURES

         The financial information furnished in this report has not been audited
by an  independent  accountant;  however,  in the  opinion  of  management,  all
adjustments (only consisting of normal recurring  accruals) necessary for a fair
presentation  of the results of operations  for the three months ended March 31,
2001, have been included.

         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.

                                          NATEXCO CORPORATION



Date:  June 28, 2001                      By: ----------------------------
                                              Gerald A. Mulhall, President








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