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

                           FORM 10-QSB

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

             For the Quarter Ended September 30, 1999

                                OR

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

     For the transition period from            to

                  Commission File Number 0-25753

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

            Nevada                          87-0449667
(State or other jurisdiction of         (I.R.S. Employer
incorporation or organization)          Identification No.)

      1037 East 3300 South #203, Salt Lake City, Utah 84106
             (Address of principal executive offices)

Registrant's telephone no., including area code:  (801) 467-6715

     Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the past 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

               APPLICABLE ONLY TO CORPORATE ISSUERS

     State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date.

          Class                Outstanding as of September 30, 1999

Common Stock, $.001 par value           1,390,000



                        TABLE OF CONTENTS

Heading                                                                   Page
                  PART I.  FINANCIAL INFORMATION

Item 1.   Financial Statements . . . . . . . . . . . . . . . . . .          3

          Balance Sheets -- September 30, 1999 and
            December 31, 1998. . . . . . . . . . . . . . . . . . .          4

          Statements of Operations -- three and nine
            months ended September 30, 1999 and 1998 . . . . . . .          5

          Statements of Stockholders' Equity . . . . . . . . . . .          6

          Statements of Cash Flows -- three and nine
            months ended September 30, 1999 and 1998 . . . . . . .          8

          Notes to Financial Statements  . . . . . . . . . . . . .          9

Item 2.   Management's Discussion and Analysis and
            Results of Operations. . . . . . . . . . . . . . . . .         11

                    PART II. OTHER INFORMATION

Item 1.   Legal Proceedings. . . . . . . . . . . . . . . . . . . .         14

Item 2.   Changes In Securities and Use of Proceeds. . . . . . . .         14

Item 3.   Defaults Upon Senior Securities. . . . . . . . . . . . .         14

Item 4.   Submission of Matters to a Vote of
            Securities Holders . . . . . . . . . . . . . . . . . .         14

Item 5.   Other Information. . . . . . . . . . . . . . . . . . . .         14

Item 6.   Exhibits and Reports on Form 8-K . . . . . . . . . . . .         14

          SIGNATURES . . . . . . . . . . . . . . . . . . . . . . .         15


                              PART I

Item 1.   Financial Statements

     The following unaudited Financial Statements for the period
ended September 30, 1999, have been prepared by the Company.















                     JAGUAR INVESTMENTS, INC.


                       FINANCIAL STATEMENTS

             September 30, 1999 and December 31, 1998



                    JAGUAR INVESTMENTS, INC.
                 (A Development Stage Company)
                         Balance Sheets


                             ASSETS

                                          September 30,        December 31,
                                             1999                  1998
                                           (Unaudited)

CURRENT ASSETS

 Cash                                    $     245             $    2,540

  Total Current Assets                         245                  2,540

  TOTAL ASSETS                           $     245             $    2,540


         LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES

 Accounts payable                        $     250             $     -

  Total Current Liabilities                    250                   -

  TOTAL LIABILITIES                            250                   -

STOCKHOLDERS' EQUITY (DEFICIT)

 Common stock: 20,000,000 shares authorized
  of $0.001 par value, 1,390,000 shares
  issued and outstanding                     1,390                  1,390
 Additional paid-in capital                 11,257                  2,780
 Deficit accumulated during the
  development stage                        (12,652)                (1,630)

  Total Stockholders Equity (Deficit)           (5)                 2,540

  TOTAL LIABILITIES AND STOCKHOLDERS'
   EQUITY (DEFICIT)                      $     245             $    2,540



                        JAGUAR INVESTMENTS, INC.
                      (A Development Stage Company)
                        Statements of Operations
                               (Unaudited)

                                                                       From
                                                                  Inception on
                                 For the           For the         October 28,
                         For the Nine Months  Three Months Ended   1987 Through
                             September 30,       September 30,     September 30,
                             1999      1998      1999      1998       1999

REVENUES                 $    -      $  -      $  -      $  -      $    -

EXPENSES                   (11,022)     (275)     (567)      (92)    (12,652)

NET LOSS                 $ (11,022)  $  (275)  $  (567)  $   (92)  $ (12,652)

BASIC LOSS PER SHARE OF
 COMMON STOCK            $   (0.01   $ (0.00)  $ (0.00)  $ (0.00)




                          JAGUAR INVESTMENTS, INC.
                        (A Development Stage Company)
                Statements of Stockholders' Equity (Deficit)

                                                                   Deficit
                                                                 Accumulated
                                                       Additional During the
                                        Common Stock    Paid-In  Development
                                       Shares  Amount   Capital    Stage

At inception on October 28, 1987         -     $  -     $  -     $   -

Common stock issued for cash,
 July 29, 1988, $0.003 per share      300,000      300      600      -

Common stock issued for cash,
 February 10, 1989, $0.003 per share  420,000      420      840      -

Common stock issued to Directors
 for services, July 27, 1990, $0.003
 per share                              2,000        2        4      -

Common stock issued for cash,
 March 15, 1991, $0.003 per share     350,000      350      700      -

Common stock issued to Directors
 for services, July 26, 1991, $0.003
 per share                              2,500        2        5      -

Common stock issued for cash,
 May 8, 1992, $0.003 per share        230,000      230      460      -

Common stock issued for services,
 July 17, 1992, $0.003 per share        3,500        4        7      -

Common stock issued to Directors
 for services, July 16, 1993, $0.003
 per share                              2,000        2        4      -

Net loss for the cumulative period
 October 28, 1987 through December
 31, 1996                                -        -        -       (1,180)

Balance, December 31, 1996          1,310,000    1,310    2,620    (1,180)

Net loss for the year ended
 December 31, 1997                       -        -        -          (85)

Balance, December 31, 1997          1,310,000  $ 1,310  $ 2,620  $ (1,265)


                         JAGUAR INVESTMENTS, INC.
                       (A Development Stage Company)
         Statements of Stockholders' Equity (Deficit) (Continued)

                                                                     Deficit
                                                                   Accumulated
                                                     Additional     During the
                                       Common Stock    Paid-In     Development
                                     Shares    Amount  Capital       Stage

Balance, December 31, 1997         1,310,000  $ 1,310  $  2,620  $  (1,265)

Common stock issued for services,
 October 23, 1998, $0.003 per share   80,000       80       160       -

Net loss for the year ended
 December 31, 1998                      -        -         -          (365)

Balance, December 31, 1998         1,390,000    1,390     2,780     (1,630)

Contributed capital (unaudited)         -        -        8,477       -

Net loss for the nine months ended
 September 30, 1999 (unaudited)         -        -         -       (11,022)

Balance, September 30, 1999
 (unaudited)                       1,390,000  $ 1,390  $ 11,257  $ (12,652)



                         JAGUAR INVESTMENTS, INC.
                       (A Development Stage Company)
                         Statements of Cash Flows
                                (Unaudited)

                                                                       From
                                                                    Inception on
                                     For the          For the       October 28,
                             For the Nine Months Three Months Ended 1987 Through
                                   September 30,     September 30, September 30,
                                  1999      1998     1999     1998     1999
CASH FLOWS FROM OPERATING
 ACTIVITIES

 Net loss                       $(11,022)  $ (275)  $(567)  $  (92)  $(12,652)
 Adjustments to reconcile net
  loss to net cash used by
  operating activities:
 Contributed capital for expenses  8,477     -        653     -         8,477
 Stock issued for services          -        -       -        -           270
 Increase (decrease) in accounts
  payable                            250     -         90     -           250

   Net Cash Used by Operating
    Activities                    (2,295)    (275)    176      (92)    (3,655)

CASH FLOWS FROM INVESTING
 ACTIVITIES                         -        -       -        -          -

CASH FLOWS FROM FINANCING
 ACTIVITIES

 Issuance of common stock for cash  -        -       -        -         3,900

   Net Cash Provided by Financing
    Activities                      -        -       -        -         3,900

NET INCREASE (DECREASE)
 IN CASH                          (2,295)    (275)    176      (92)       245

CASH AT BEGINNING OF PERIOD        2,540    2,665      69    2,574       -

CASH AT END OF PERIOD            $   245   $2,390  $  245   $2,482   $    245

CASH PAID FOR:

 Interest                        $  -      $ -     $ -      $ -      $   -
 Income taxes                    $  -      $ -     $ -      $ -      $   -

NON-CASH FINANCING ACTIVITIES

 Contributed capital for expenses $8,477   $ -     $  653   $ -      $  8,477
 Common stock issued for services $ -      $   30  $ -      $ -      $    270




                    JAGUAR INVESTMENTS, INC.
                 (A Development Stage Company)
               Notes to the Financial Statements
                       September 30, 1999

NOTE 1 - ORGANIZATION AND HISTORY

        The Company was incorporated on October 28, 1987 under the
        laws of the State of Nevada.  The Company currently has no
        operations and is considered a development stage company
        which is seeking a merger or acquisition by an operating
        company.

       a. Accounting Method

        The Company's financial statements are prepared using the
        accrual method of accounting.  The Company has elected a
        calendar year end.

         b. Cash and Cash Equivalents

        Cash equivalents include short-term, highly liquid
        investments with maturities of three months or less at the
        time of acquisition.

        c. Basic Loss Per Share

        The computations of basic loss per share of common stock
        are based on the weighted average number of shares
        outstanding at the date of the financial statements.

        d. Provision for Taxes

        At September 30, 1999, the Company had net operating loss
        carryforwards of approximately $12,650 that may be offset
        against future taxable income through 2014.  No tax benefit
        has been reported in the financial statements, because the
        Company believes there is a 50% or greater chance the
        carryforwards will expire unused.  Accordingly, the
        potential tax benefits of the loss carryforwards are offset
        by a valuation account of the same amount.

        e. Estimates

        The preparation of financial statements in conformity with
        generally accepted accounting principles requires
        management to make estimates and assumptions that affect
        the reported amounts of assets and liabilities and
        disclosure of contingent assets and liabilities at the date
        of the financial statements and the reported amounts of
        revenues and expenses during the reporting period.  Actual
        results could differ from those estimates.

        f. Unaudited Financial Statements

        The accompanying unaudited financial statements include all
        of the adjustments which, in the opinion of management, are
        necessary for a fair presentation.  Such adjustments are
        of a normal, recurring nature.



                     JAGUAR INVESTMENTS, INC.
                  (A Development Stage Company)
                Notes to the Financial Statements
                        September 30, 1999

NOTE 2 - GOING CONCERN

        The Company's financial statements are prepared using
        generally accepted accounting principles applicable to a
        going concern which contemplates the realization of assets
        and liquidation of liabilities in the normal course of
        business.  However, the Company does not have significant
        cash or other material assets, nor does it have an
        established source of revenues sufficient to cover its
        operating costs and to allow it to continue as a going
        concern.  It is the intent of the Company to seek a merger
        with an existing, operating company.  Until that time,
        shareholders of the Company have committed to meeting its
        minimal operating needs.



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

     The following information should be read in conjunction with
the financial statements and notes thereto appearing elsewhere in
this Form 10-QSB.

     Jaguar Investments, Inc. (the "Company") is considered a
development stage company with minimal assets or capital and with
no significant operations or income since its inception.

     It is anticipated that the Company will require only nominal
capital to maintain the corporate viability of the Company and
necessary funds will most likely be provided by the Company's
officers and directors in the immediate future.  However, unless
the Company is able to facilitate an acquisition of or merger with
an operating business or is able to obtain significant outside
financing, there is substantial doubt about its ability to continue
as a going concern.

     The costs and expenses associated with the preparation and
filing of its registration statement on Form 10-SB earlier in 1999
have been paid for by an advance from a shareholder of the Company.
It is anticipated that future expenses will be handled in a similar
manner.

     At September 30, 1999 and December 31, 1998, the Company had
total assets consisting of cash of $245 and $2,540, respectively.
Total liabilities at September 30, 1999 and December 31, 1998 were
$250 and $0, respectively.

     The Company has not had any significant revenues since its
inception.  For the three and nine months ended September 30, 1999,
the Company's total expenses were $567 and $11,022 respectively,
attributed primarily to legal and accounting costs associated with
the filing of the Company's registration statement.  In comparison,
total expenses were $92 and $275 for the three and nine months
ended September 30, 1998, respectively, reflecting the Company's
inactivity during 1998.  The Company's net loss for the three and
nine months ended September 30, 1999 were $567 and $11,022,
respectively, compared with a net loss of $92 and $275 for the
three and nine months ended September 30, 1998, respectively.

     No revenues are anticipated prior to the Company consummating
an acquisition or merger agreement and, during this period of time,
the Company anticipates its expenses to be level.





     In the opinion of management, inflation has not and will not
have a material effect on the operations of the Company until such
time as the Company successfully completes an acquisition
or merger.  At that time, management will evaluate the possible
effects of inflation on the Company related to it business and
operations following a successful acquisition or merger.

Plan of Operation

    During the next 12 months, the Company will actively seek out
and investigate possible business opportunities with the intent to
acquire or merge with one or more business ventures.  In its search
for business opportunities, management will follow the procedures
outlined in Item 1 above.  Because the Company lacks funds, it may
be necessary for the officers and directors to either advance funds
to the Company or to accrue expenses until such time as a
successful business consolidation can be made.  Management intends
to hold expenses to a minimum and to obtain services on a
contingency basis when possible.  Further, the Company's directors
will defer any compensation until such time as an acquisition or
merger can be accomplished and will strive to have the business
opportunity provide their remuneration.  However, if the Company
engages outside advisors or consultants in its search for business
opportunities, it may be necessary for the Company to attempt to
raise additional funds.  As of the date hereof, the Company has not
made any arrangements or definitive agreements to use outside
advisors or consultants or to raise any capital.  In the event the
Company does need to raise capital, most likely the only method
available to the Company would be the private sale of its
securities.  Because of the nature of the Company as a development
stage company, it is unlikely that it could make a public sale of
securities or be able to borrow any significant sum from either a
commercial or private lender.  There can be no assurance that the
Company will be able to obtain additional funding when and if
needed, or that such funding, if available, can be obtained on
terms acceptable to the Company.

    The Company does not intend to use any employees, with the
possible exception of part-time clerical assistance on an as-needed
basis.  Outside advisors or consultants will be used only if they
can be obtained for minimal cost or on a deferred payment basis.
Management is confident that it will be able to operate in this
manner and to continue its search for business opportunities during
the next twelve months.

Net Operating Loss

    The Company has accumulated approximately $12,650 of net
operating loss carryforwards as of September 30, 1999, which may be
offset against taxable income and income taxes through 2014.  The
use of these losses to reduce future income taxes will depend on
the generation of sufficient taxable income prior to the expiration
of the net operating loss carryforwards.  In the event of certain
changes in control of the Company, there will be an annual
limitation on the amount of net operating loss carryforwards which
can be used.  No tax benefit has been reported in the financial
statements for the year ended December 31, 1998 or three month
period ended September 30, 1999 because there is a 50% or greater
chance that the carryforward will not be used.  Accordingly, the
potential tax benefit of the loss carryforward is offset by a
valuation allowance of the same amount.

Year 2000

    Year 2000 issues may arise if computer programs have been
written using two digits (rather than four) to define the
applicable year.  In such case, programs that have time-sensitive
logic may recognize a date using "00" as the year 1900 rather than
the year 2000, which could result in miscalculations or system
failures.

    Because the Company currently does not have any operations
except for its search for viable business opportunities, it does
not own or use any computer equipment.  The Company does not
anticipate doing a full assessment of the potential Year 2000 issue
until it has made an acquisition of or merged with an operating
entity.  The Company does not believe that the cost of addressing
the issue will have a material adverse impact on its financial
position.  Further, the Company believes that no third parties with
whom it may have a material relationships will be materially
affected by the Year 2000 issues.

Risk Factors and Cautionary Statements

    This report contains certain  forward-looking statements.  The
Company wishes to advise readers that actual results may differ
substantially from such forward-looking statements.  Forward-
looking statements involve risks and uncertainties that could cause
actual results to differ materially from those expressed in or
implied by the statements, including, but not limited to, the
following: the ability of the Company search for appropriate
business opportunities and subsequently acquire or merge with such
entity, to meet its cash and working capital needs, the ability of
the Company to maintain its existence as a viable entity, and other
risks detailed in the Company's periodic report filings with the
Securities and Exchange Commission.


<PAGE>
                             PART II

Item 1.  Legal Proceedings

    There are presently no other material pending legal
proceedings to which the Company or any of its subsidiaries is a
party or to which any of its property is subject and, to the best
of its knowledge, no such actions against the Company are
contemplated or threatened.

Item 2.  Changes In Securities and Use of Proceeds

    This Item is not applicable to the Company.

Item 3.  Defaults Upon Senior Securities

    This Item is not applicable to the Company.

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

    This Item is not applicable to the Company.

Item 5.  Other Information

    This Item is not applicable to the Company.

Item 6.  Exhibits and Reports on Form 8-K

    (a)  Exhibit 27 - Financial Data Schedules

    (b)  Reports on Form 8-K

             No report on Form 8-K was filed by the Company during the
    three month period ended September 30, 1999.



                            SIGNATURES


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

                                       JAGUAR INVESTMENTS, INC.



Date:  November 15, 1999               By:  /S/ James R. GLavas
                                            JAMES R. GLAVAS
                                       C.E.O., C.F.O., President
                                       and Director




Date:  November 15, 1999               By: /S/ Martin L. Smart
                                               MARTIN L. SMART
                                       Secretary/Treasurer,  and
                                       Director
                                       (Principal Accounting
                                        Officer)