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 June 30, 2000.

     [ ] Transition report under Section 13 or 15(d) of the Securities  Exchange
Act of 1934 for the transition period from to . ------------ --------------


         Commission file number:000-27691
                                ---------


                   GOLDEN OPPORTUNITY DEVELOPMENT CORPORATION
                   -------------------------------------------
        (Exact name of small business issuer as specified in its charter)





             Louisiana                                    87-00067813
            -----------                                  ------------
  (State or other jurisdiction of           (I.R.S. Employer Identification No.)
   incorporation or organization)





            268 West 400 South, Suite 300, Salt Lake City, Utah 84101
            ---------------------------------------------------------
               (Address of principal executive office) (Zip Code)


                                 (801) 575-8073
                             ------------------------
                           (Issuer's telephone number)

         Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the  Exchange  Act 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 XX           No

         The number of outstanding  shares of the issuer's common stock,  $0.001
par value (the only class of voting stock), as of June 30, 2000 was 255,423.


<PAGE>




                                TABLE OF CONTENTS

                                     PART I

ITEM 1.  FINANCIAL STATEMENTS..................................................1

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.............2


                                     PART II

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K......................................6

SIGNATURES.....................................................................7

INDEX TO EXHIBITS..............................................................8











                 [THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK]


<PAGE>



ITEM 1.           FINANCIAL STATEMENTS

         As used  herein,  the  term  "Company"  refers  to  Golden  Opportunity
Development  Corporation,  a Louisiana  corporation,  and its  subsidiaries  and
predecessors  unless otherwise  indicated.  Consolidated,  unaudited,  condensed
interim financial statements including a balance sheet for the Company as of the
quarter ended June 30, 2000 and statements of operations, and statements of cash
flows  for the  interim  period  up to the date of such  balance  sheet  and the
comparable period of the preceding year are attached hereto as Pages F-1 through
F-4 and are incorporated herein by this reference.

                 [THIS SPACE HAS BEEN LEFT BLANK INTENTIONALLY]

                                        1


<PAGE>



<TABLE>

                   Golden Opportunity Development Corporation
                             Condensed Balance Sheet
<CAPTION>

                                                           June 30, 2000      December 31,
                                                             (Unaudited)        1999
                                                      ------------------- -----------------

ASSETS
<S>                                                      <C>              <C>
      Current Assets:
            Cash and cash equivalents                     $       3,631    $     10,027
            Deposits                                              4,052           4,052
            Prepaid Expenses                                      4,333           4,333
            Other                                                   616               -
                                                           ------------     -----------
                 Total current assets                            12,632          18,412

      Property and Equipment (net of depreciation)            2,520,656       2,556,526

TOTAL ASSETS                                              $   2,533,288    $  2,574,938
                                                           ============     ===========

LIABILITIES AND STOCK HOLDERS' EQUITY
      Current Liabilities:

            Accounts payable                              $      16,249    $     30,126
            Accounts payable-related party                      384,800         215,908
            Taxes payable                                             -               -
            Current portion of Long Term Obligations             20,961          27,098
                                                           ------------     -----------
                 Total current liabilities                      422,010         273,132

      Long Term Obligations (net of current portion)          1,797,185       1,808,938
                                                           ------------     -----------

TOTAL LIABILITIES                                             2,219,195       2,082,070

      Stockholders' equity

            Common stock $.001 par value shares,
            10,000,000 shares  authorized;
            255,423 shares issued and outstanding
            on March 31, 2000 and

                December 31, 1999,                                  255             255
            Additional paid in capital                        1,041,330       1,041,330
            Retained Earnings (Deficit)                        (727,492)       (548,717)
                                                           ------------     -----------
                 Total stockholders' equity                     314,093         492,868
                                                           ------------     -----------

TOTAL LIABILITIES AND EQUITY                              $   2,533,288    $  2,574,938
                                                           ============     ============

</TABLE>






                        See notes to financial statements

                                       F-1


<PAGE>



<TABLE>

                   Golden Opportunity Development Corporation
                  Unaudited Condensed Statements of Operations

<CAPTION>

                                                       Three Months Ended                         Six Months Ended
                                                             June 30,                                 June 30,
                                                     2000                 1999                2000                 1999
                                                     ----                 ----                ----                 ----
REVENUE
<S>                                           <C>                  <C>                    <C>                <C>
     Hotel Revenue                             $           67,242   $          97,008             134,878              183,747
     Lease Revenue                                          9,685                 541              23,005                1,580
                                                 ----------------      --------------      --------------       --------------
          Total Revenue                                    76,927              97,549             157,883              185,327

EXPENSES

     Hotel Direct Costs                                   100,832              89,026             223,870              165,161
     Selling, general & administrative                     10,054               4,783              20,494                8,262
     Depreciation                                          25,757              12,888              36,181               23,628
     Interest Expense                                      27,451              27,872              56,107               55,874
                                                 ----------------      --------------      --------------       --------------
           Total Operating Expenses                       164,094             134,569             336,652              252,925
                                                 ----------------      --------------      --------------       --------------

NET LOSS                                       $          (87,167)  $         (37,020)           (178,769)             (67,598)
                                                 ================      ==============      ==============       ==============
BASIC AND DILUTED LOSS

PER COMMON SHARE                               $            (0.34)      $       (0.16)              (0.70)               (0.43)
                                                 ----------------      --------------      --------------       --------------
BASIC AND DILUTED
WEIGHTED AVERAGE
SHARES OUTSTANDING                                        255,423             236,473             255,423              158,762
</TABLE>








                        See notes to financial statements

                                       F-2


<PAGE>




<TABLE>

                   Golden Opportunity Development Corporation
                  Unaudited Condensed Statements of Cash Flows
<CAPTION>


                                                                                     Six Months              Six Months
                                                                                       Ended                   Ended

                                                                                   June 30, 2000           June 30, 1999
                                                                                 ------------------      ------------------

                                                                                 ------------------      ------------------
CASH FLOWS FROM OPERATION ACTIVITIES
<S>                                                                          <C>                <C>

     Net loss                                                                 $      (178,769)   $      (67,598)
     Adjustments to reconcile net loss to net cash provided (used) by
     operating activities:
          Depreciation and amortization                                                36,181            23,628
     Changes in operating assets and liabilities (net of effect from
     acquisitions)
          Deposits                                                                          -                 -
          Other Assets                                                                   (616)                -
          Accounts Payable                                                            (13,887)          (44,691)
          Accounts Payable-Related Parties                                            168,892            76,883
          Accrued Expenses                                                                  -            39,068
                                                                                 ------------      ------------
               Total adjustments                                                      190,570            94,888
NET CASH PROVIDED (USED) BY OPERATING

ACTIVITIES                                                                             11,801            27,290
                                                                                 ------------      ------------

CASH FLOWS PROVIDED BY INVESTING ACTIVITIES

     Purchase of additional building improvements                                        (307)           (8,100)
                                                                                 ------------      ------------

CASH FLOWS FROM FINANCING ACTIVITIES

     Payments on Notes                                                                (17,890)          (15,475)
                                                                                 ------------      ------------
NET CASH PROVIDED (USED) BY FINANCING

ACTIVITIES                                                                            (17,890)          (15,475)
                                                                                 ------------      ------------

NET INCREASE (DECREASE) IN CASH EQUIVALENTS                                            (6,396)           (3,715)

CASH AND CASH EQUIVALENTS AT BEGINNING OF

PERIOD                                                                                 10,027             6,468
                                                                                 ------------      ------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                    $         3,631    $        2,753
                                                                                 ============      ============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW

INFORMATION

     Cash paid during the period for interest                                 $        56,107    $       55,874
                                                                                 ------------      ------------

</TABLE>


                        See notes to financial statements

                                       F-3


<PAGE>



                   Golden Opportunity Development Corporation
         NOTES TO CONSOLIDATED UNAUDITED CONDENSED FINANCIAL STATEMENTS
                                  June 30, 2000


1.  Basis of Presentation

The accompanying consolidated unaudited condensed financial statements have been
prepared by management in accordance  with the  instructions in Form 10-QSB and,
therefore,  do not include all information  and footnotes  required by generally
accepted  accounting  principles and should,  therefore,  be read in conjunction
with the Company's  Annual Report to  Shareholders on Form 10-KSB for the fiscal
year ended December 31, 1999.  These  statements do include all normal recurring
adjustments which the Company believes  necessary for a fair presentation of the
statements. The interim operations results are not necessarily indicative of the
results for the full year ended December 31, 2000.

2.  Related Party Transaction

During the six months ended June 30, 2000,  the Company's  parent and/or related
entities advanced $168,892 to cover operating deficiencies.  The amount advanced
during the quarter ended June 30, 2000,  was $68,001.  The total amount  payable
owed to related parties at June 30, 2000 was $384,800.

3.  Additional footnotes included by reference

Except as indicated in Notes above, there have been no other material changes in
the information  disclosed in the notes to the financial  statements included in
the Company's Annual Report on Form 10-KSB for the year ended December 31, 1999.
Therefore, those footnotes are included herein by reference.

                                       F-4


<PAGE>



ITEM 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

General

As used  herein  the term  "Company"  refers to Golden  Opportunity  Development
Corporation,  its subsidiaries and  predecessors,  unless the context  indicates
otherwise.  The Company was  incorporated  in  Louisiana  on May 7, 1997 for the
purpose of engaging in any lawful activity for which  corporations may be formed
under the Business Corporation Law of Louisiana.

The Company is  currently  engaged in the business of  operating  and  acquiring
hospitality property.  The Company currently owns a 134 unit motel, a restaurant
facility and four  adjacent  office retail  buildings in Baton Rouge,  Louisiana
(the "Motel").  The Motel is located next to the Mississippi River, three blocks
from a river boat dock, at 427 Lafayette  Street,  Baton Rouge,  Louisiana.  The
Company is also actively seeking to acquire other hospitality properties.

The Motel

The Motel was  acquired on May 31, 1997 by San Pedro Ltd.  and the Smith  Family
Trust for the purpose of subsequently  transferring  the property to the Company
for a 100%  interest in the  Company.  The Company  acquired the Motel for a One
Million Nine Hundred Thousand Dollar  ($1,900,000) note.  Principal and interest
on the mortgage are payable in 359 monthly installments of Eleven Thousand Three
Hundred  Ninety-One Dollars and Forty-Six Cents ($11,391.46) until July 1, 2027,
when the  remaining  principal and interest is due in full.  These  payments are
made to the General  Lafayette  Inc.  c/o James A. Thom III,  M.D. and his wife,
Evelyn  M Thom  130 Main  Street,  Baton  Rouge,  Louisiana,  70081.  Additional
consideration  paid by the Company  for the  acquisition  of the Motel  included
75,000 shares of SynFuel Technology stock. No other liens or encumbrances on the
Motel  exist  other  than the note.  The Motel is  located in the Parish of East
Baton Rouge,  State of  Louisiana.  The  assessed  value of the property and the
Motel  when it was  acquired  by the  Company in May of 1997 was  $200,000.  The
current assessed value of the property and Motel remains approximately $200,000.

The Motel currently has an occupancy rate of  approximately  58% of its rentable
rooms.  However,  the Company expects this rate to increase once the renovations
are complete and the Motel becomes a Villager Lodge. The Motel generates average
monthly  rental  revenues of  approximately  Twenty-Two  Thousand  Five  Hundred
Forty-Five  Dollars ($22,545) and approximately Four Thousand Four Hundred Forty
Dollars  ($4,440)  are  generated  from  leases on other  property . The Motel's
current  occupancy  rate,  based  upon the  number  of  available  rooms,  is as
mentioned above, approximately 58%. The current number of available rooms is 74.
The Motel's low  occupancy  rate is due in part to the fact that the Motel is in
need of substantial  repairs  including repairs to sixty (60) rooms that are not
rentable. If these sixty (60) unrentable rooms are added into the calculation of
the Motel's  occupancy rate, the Motel would have an occupancy rate of only 32%.
The Company is in the process of renovating approximately one room a month until
it obtains  sufficient  financing to renovate the entire Motel.  At the time the
Company acquired the Motel,  approximately 40 rooms were rentable out of a total
of 134 rooms.  The  neighborhood  in which the Motel is located  was  considered
economically depressed prior to the Company's acquisition of the Motel. However,
the neighborhood  over the last couple of years has been in the process of being
revitalized. The Company suspects that the Motel's poor condition was the result
of the  Motel's  prior  inability  to generate  sufficient  revenues to make the
necessary  upgrades,  repair and improvements to properly maintain the property.
The Motel's  inability to generate  sufficient  revenues  historically  was most
likely the result of the formerly depressed local economy.  The Company has been
unable to find adequate financing to fully renovate the Motel to date.

The Company's  current  plans are to renovate the Motel in  compliance  with the
requirements of the Villager Franchise Systems,  Inc. uniform franchise offering
circular.  The Company has retained the services of an architectural firm in its
effort to begin renovations and thereby,  comply with requirements of becoming a
Villager Lodge Extended Stay Living Franchise. In July, 1999, the Company signed
a Franchise  Agreement  with  Villager  Lodge.  The Company is in the process of
obtaining the necessary  financing to begin  operations as a Villager Lodge. The
Company expects

                                        2


<PAGE>



that the  source  of such  financing  will be bank or  institutional  financing,
equity offerings and/or private  placements.  As mentioned above, the Company is
currently  financing  renovations  on a room by room basis with  operating  cash
flows.  The  Company  expects  that  initial  costs  to  renovate  the  Motel in
compliance  with the Villager Lodge  franchise  agreement will be  approximately
$2,000 per room  during the first year of  operation  as a Villager  Lodge.  The
Company  expects that after the first year of  operations  as a Villager  Lodge,
additional renovations will need to be made at a cost of approximately $2,000 to
$3,000 per room.

Villager Lodge is a national  chain with over ninety (90)  locations  throughout
the country. Villager Lodge has a toll free 800 number for national reservations
and directory assistance for Villager Lodge locations nation wide. Additionally,
Villager Lodge maintains a national advertising campaign and an Internet website
upon which potential  guests can view the Villager Lodge national  directory and
make  reservations  at any Villager  Lodge nation  wide.  Villager  lodge has an
Internet web site located at http://www.villager.com.

The estimated  minimal initial costs to begin  operations as a Villager Lodge is
$250,000. The Company believes that it will need an additional $250,000 to fully
complete the renovation  requirements  for the Village Lodge.  The completion of
renovations  and the  successful  retention of the Villager  Lodge  franchise is
expected to significantly  increase the Motel's rental revenues.  However, there
is no guarantee that the Company will obtain the necessary financing to make the
renovations  required under the Licensing  Agreement with Villager Lodge. In the
event the Company does not obtain the necessary  financing,  the Company may not
be able to operate as a Villager Lodge  franchisee.  In the event the Company is
unable to comply with the requirement of the Villager Lodge Franchise  Agreement
because of a lack of  financing,  the Company will continue to operate its Motel
as the General  Lafayette Inn.  Villager Lodge has agreed to release the Company
from any liability  under the Franchise  Agreement,  if the Company is unable to
obtain sufficient financing.

Results of Operations

Revenues

Revenues for the three and six month periods  ended June 30, 2000,  were $76,927
and  $157,883  respectively  as compared to $97,549  and  $185,327  for the same
periods  in 1999,  a  decrease  of 21% and 15%  respectively.  The  decrease  in
revenues was attributable to a decrease in occupancy.

Losses

Net losses for the three and six month periods ended June 30, 2000, were $87,167
and  $178,769  respectively  as  compared  to $37,020  and  $67,598 for the same
periods in 1999, an increase of $50,147 and $111,170 respectively.  The increase
in losses is  attributable  to a  decrease  in revenue  in  conjunction  with an
increase in repair expenses as well as a one time charge to correct depreciation
schedules to amended useful life adjustments.

The Company expects to continue to incur losses at least through fiscal 2000 and
there  can  be  no   assurance   that  the  Company  will  achieve  or  maintain
profitability or that its revenue growth can be sustained in the future.

Expenses

General and  administrative  expenses for three and six month periods ended June
30, 2000 were $10,054 and $20,494  respectively as compared to $4,783 and $8,262
for the same  periods in 1999.  The reason for the $5,271  increase in the three
month  period  ended June 30,  2000 is  primarily  attributable  to audit  costs
incurred to meet the reporting  requirements  of the Securities  Exchange Act of
1934.

Depreciation and amortization expenses for the three and six month periods ended
June 30, 2000 were $25,757 and $36,181,  respectively as compared to $12,888 and
$23,628 for the same periods in 1999. The increase was due to

                                        3


<PAGE>



recalculation  of depreciation  lives and adjustments in amortization  schedules
and valuations.

The Company expects  increases in expenses  through 2000 as the Company steps up
its effort to acquire  additional  properties  and works towards  finalizing its
efforts to begin operating as a Villager Lodge franchisee.

For the quarters  ended June 30, 2000,  and June 30,  1999,  the Motel's  direct
operating costs were $100,832 and $89,026 respectively,  an increase of $11,806.
This increase is primarily  attributable to expenses  relating to needed repairs
and increase in general  maintenance to improve the facility in  anticipation of
operation as a Villager Lodge franchisee.

Liquidity and Capital Resources

The Company has  expended  significant  resources  on  renovating  the Motel and
maintenance  because of the age and poor condition of the facility.  The Company
anticipates  spending substantial amounts of capital in an effort to comply with
the requirement of becoming a Villager Lodge franchise.

Cash flow provided by operations  were $11,801 for the six months ended June 30,
2000,  compared to cash flow  provided  for  operations  of $ 27,290 for the six
months ended June 30, 1999.  This  decrease in cash flows  provided in operating
activities for the six months ended June 30, 2000 is primarily  attributable  to
the increase in losses due to the factors previously discussed.

Cash flow used by investing  activities  were $307 for the six months ended June
30, 2000, compared to cash flow used by investing  activities of $ 8,100 for the
six months  ended June 30, 1999.  This  decrease in cash flows used by investing
activities for the quarter ended June 30, 2000 is primarily  attributable to not
performing capital expenditures due to limited funding.

Cash flow used in financing activities was $17,890 for the six months ended June
30,  2000,  compared to cash flows used of $15,475 for the six months ended June
30, 1999. The Company's cash flow used in financing  activities increased due to
the fact  that the  Company  was able to  retire  more debt than it could in the
previous year.

The Company has funded its cash needs from inception  through June 30, 2000 with
revenues generated from its operations and advances from its Parent Company.  In
addition,  the Company may issue additional  shares of its common stock pursuant
to a private placement or registered offering,  if necessary to raise additional
capital.

Capital Expenditures

The  Company  made $307 and  $8,100  in  capital  expenditures  on  property  or
equipment for the six months ended June 30, 2000 and 1999, respectively.

The Company has a working  capital  deficiency at June 30, 2000 in the amount of
$409,378.  However,  $384,800 of this working capital  deficiency is owed to the
Company's  parent.  The Company intends to fund the Motel's  operations over the
course  of the next  year with  long  term  bank  financing,  increasing  rental
revenues from increased occupancy rates and/or equity financing in the form of a
private placement offering.

During  2000 the  Company  expects  to spend up to  $500,000  or more in capital
improvements on renovations to the Motel.  Anticipated capital expenditures will
depend upon  financing that is being sought for  renovations.  It is anticipated
that the cost to make the initial  renovations in each room of the Motel will be
approximately  $2,000 or $250,000 total. These initial  renovations will include
new paint, new carpeting,  new door locks and replacing  certain  fixtures.  The
Company  anticipates  spending an additional $2,000 to $3,000 per room after the
initial renovations are made on new furnishings and updating the exterior of the
building.  The Company anticipates the source of these expenditures to come from
equity offerings,  bank financing, or loans from insiders and control persons of
the  Company.  In the event that the  Company is unable to obtain the  necessary
amount of capital, the Company may choose not to

                                        4


<PAGE>



operate  as a  Villager  Lodge and may  operate as an  independent  motel  until
financing is obtained.


Income Tax Expense (Benefit)

The Company has an income tax benefit  resulting  from net  operating  losses to
offset future operating profit.

Impact of Inflation

The Company  believes that  inflation has had a negligible  effect on operations
over the past three years. The Company believes that it can offset  inflationary
increases in the cost of materials and labor by  increasing  sales and improving
operating efficiencies.

Known Trends, Events, or Uncertainties

Lodging Industry  Operating Risks. The Company is subject to all operating risks
common to the lodging  industry.  These risks include,  among other things,  (i)
competition  for guests from other  hotels,  a number of which may have  greater
marketing and financial resources than the Company,  (ii) increases in operating
costs due to inflation  and other  factors,  which  increases  may not have been
offset in recent years,  and may not be offset in the future,  by increased room
rates, (iii) dependance on business and commercial travelers and tourism,  which
business may fluctuate and be seasonal,  (iv) increase in energy costs and other
expenses of travel which may deter travelers, and (v) adverse effects of general
and local economic and weather conditions.

Capital  Requirements and Availability of Financing.  The Company's  business is
capital  intensive,  and it will have  significant  capital  requirements in the
future.  The Company's  leverage could affect its ability to obtain financing in
the future to  undertake  remodeling  or  refinancings  on terms and  subject to
conditions  deemed  acceptable  to the Company.  In the event that the Company's
cash  flow  and  working  capital  are  not  sufficient  to fund  the  Company's
expenditures  or to service  its  indebtedness,  it would be  required  to raise
additional  funds  through  the  sale  of  additional  equity  securities,   the
refinancing of all or part of its indebtedness or the sale of assets.  There can
be no  assurances  that any of these  sources of funds would be  available in an
amount sufficient for the Company to meet its obligations. Moreover, even if the
Company were able to meet its obligations, its leveraged capital structure could
significantly  limit its  ability to finance  its  remodeling  program and other
capital  expenditures to compete  effectively or to operate  successfully  under
adverse economic conditions.  Additionally, financial and operating restrictions
contained in the Company's existing indebtedness may limit the Company's ability
to secure  additional  financing,  and may prevent the Company from  engaging in
transactions that might otherwise be beneficial to the Company and to holders of
the Company's  common stock.  The Company's  ability to satisfy its  obligations
will  also be  dependant  upon  its  future  performance,  which is  subject  to
prevailing economic conditions and financial,  business and other factors beyond
the Company's control.

General Real Estate Investment  Risks. The Company's  investments are subject to
varying  degrees of risk  generally  incident to the ownership of real property.
Real  estate  values and income from the  Company's  current  properties  may be
adversely  affected  by changes in  national or local  economic  conditions  and
neighborhood characteristics, changes in interest rates and in the availability,
cost and terms of mortgage funds, the impact of present or future  environmental
legislation and compliance with environmental laws, the ongoing need for capital
improvements,  changes in governmental rules and fiscal policies,  civil unrest,
acts of God, including  earthquakes and other natural disasters which may result
in  uninsured  losses),  acts of war,  adverse  changes in zoning laws and other
factors which are beyond the control of the Company.

Value and  Illiquidity of Real Estate.  Real estate  investments  are relatively
illiquid.  The  ability of the  Company  to vary its  ownership  of real  estate
property in response to changes in economic and other conditions is limited.  If
the Company must sell an investment,  there can be no assurance that the Company
will be able to dispose of it in the time

                                        5


<PAGE>



period it  desires or that the sales  price of any  investment  will  recoup the
amount of the Company's investment.

Property Taxes.  The Company's  property is subject to real property taxes.  The
real  property  taxes on this  property may increase or decrease as property tax
rates  change  and  as  the  property  is  assessed  or   reassessed  by  taxing
authorities.  If property  taxes  increase,  the Company's  operations  could be
adversely affected.

Risks of  Remodeling  /  Expansion  Strategy.  The  Company  intends to pursue a
strategy of growth  through the remodeling of the Motel and may pursue a similar
strategy in acquiring  future  properties.  There can be no  assurance  that the
Company will obtain adequate  financing for the renovations nor can there be any
assurance that  renovations  undertaken by the Company will be  profitable.  The
construction of renovations  that are not profitable  could adversely affect the
Company's  profitability.  The  Company  may in the  future  require  additional
financing in order to continue its renovation plans.  There is no assurance that
such  additional  financing,  if  any,  will  be  available  to the  Company  on
acceptable terms.

Investment in Single Industry/Property. The Company is subject to risks inherent
in  investments  in a single  industry/property.  The  effects on the  Company's
revenues  resulting  from a  downturn  in the  lodging  industry  would  be more
pronounced than if the Company had  diversified  its investments  outside of the
lodging industry.

Year 2000.  The  Company  has not  experienced  any Year 2000  related  computer
problems as of the date of this filing.




                                     PART II

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibits Exhibits required to be attached by Item 601 of Regulation S-B
         are listed in the Index to Exhibits on page 10 of this Form 10-QSB, and
         are incorporated herein by this reference.

(b)      Reports on Form 8-K.   No  reports  were filed  on  Form 8-K during the
         quarter.





                 [THIS SPACE HAS BEEN LEFT BLANK INTENTIONALLY]

                                        6


<PAGE>




                                   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, this 10th day of August 10, 2000.

Golden Opportunity Development Corporation

                                                         August 10, 2000
By:    /s/ Richard Surber
 -----------------------------
         Richard Surber

Its:   President, Chief Executive Officer and
        Director

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<PAGE>


                                INDEX TO EXHIBITS

Exhibit

No.    Page No.     Description

2(i)     *          Articles of  Incorporation of the Company dated May 7, 1997.
                    (Incorporated  by reference  filed with the  Company's  Form
                    10-SB/A-2 on May 2, 2000).

2(ii)    *          Amended Articles of Incorporation of the Company dated April
                    26,  1999.   (Incorporated   by  reference  filed  with  the
                    Company's Form 10-SB/2 on May 2, 2000).

2(iv)    *          By-laws of the Company.  (Incorporated  by  reference  filed
                    with the Company's Form 10- SB/A-2 on May 2, 2000).

27       9          Financial Data Schedule "CE".

Material Contracts

Exhibit

No.       Page No.         Description

6(i)        *       Management  Agreement  between the  Company and  Diversified
                    Holdings,  I, Inc.  dated April 30, 1999.  (Incorporated  by
                    reference  filed with the Company's Form  10-SB/A-2on May 2,
                    2000).

6(ii)     *         Franchise   Agreement   between  the  Company  and  Villager
                    Franchise  Systems,  Inc.  (Incorporated  by reference filed
                    with the Company's Form 10-SB/A-2 on May 2, 2000).







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