UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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, 2003

[ ] Transition Report Under Section 13 or 15(d) of the Securities Exchange
    Act of 1934

    For the transition period from ______________ to _____________


                         Commission File Number: 0-32829


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


        Nevada                                                  88-0470235
(State of incorporation)                                (IRS Employer ID Number)


              7898 E. Acoma Drive, Suite 102, Scottsdale, AZ 85260
                    (Address of principal executive offices)


                                 (480) 951-2300
                           (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 [X]  NO [ ]

State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: May 10, 2003 was 11,454,857.

Transitional Small Business Disclosure Format (check one): YES [ ]  NO [X]
<PAGE>
                            PALOMAR ENTERPRISES, INC.

                Form 10-QSB for the Quarter ended March 31, 2003

                                Table of Contents


                                                                            Page
                                                                            ----
PART I - FINANCIAL INFORMATION

   Item 1 - Financial Statements                                              3

   Item 2 - Management's Discussion and Analysis or Plan of Operation         9

   Item 3 - Controls and Procedures                                          12

PART II - OTHER INFORMATION

   Item 1 - Legal Proceedings                                                12

   Item 2 - Changes in Securities                                            12

   Item 3 - Defaults on Senior Securities                                    12

   Item 4 - Submission of Matters to a Vote of Security Holders              12

   Item 5 - Other Information                                                12

   Item 6 - Exhibits and Reports on Form 8-K                                 12

SIGNATURES                                                                   13

CERTIFICATIONS                                                               14

                                       2
<PAGE>
                     ITEM 1 - PART 1 - FINANCIAL STATEMENTS

PALOMAR ENTERPRISES, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET AS OF MARCH 31, 2003

                                   (UNAUDITED)

ASSETS

CURRENT ASSETS
  Cash                                                                $   3,050
  Inventory                                                               6,218
  Prepaid Expenses & Advances                                            10,363
                                                                      ---------
TOTAL CURRENT ASSETS                                                     19,631

OTHER ASSETS - Deposits                                                   2,400


FIXED ASSETS (Net of Accumulated Depreciation of $1,650)                  9,350
                                                                      ---------
TOTAL ASSETS                                                          $  31,381
                                                                      =========

LIABILITIES AND STOCKHOLDERS' EQUITY:

CURRENT LIABILITIES
  Accounts Payable                                                    $   1,050
  Accrued Expenses                                                        6,237

TOTAL CURRENT LIABILITIES                                                 7,287
                                                                      ---------
TOTAL LIABILITIES                                                         7,287
                                                                      ---------
STOCKHOLDERS' EQUITY:
  Common stock, $.001 par value, 50,000,000 shares
   authorized, 11,454,857 shares issued; 11,174,857
   outstanding                                                           11,455
  Additional paid-in capital                                            262,635
  Deficit accumulated during the development phase                     (222,578)
                                                                      ---------
                                                                         51,512

  Treasury Stock - at cost (280,000 shares)                             (27,418)
                                                                      ---------
Total stockholders' equity                                               24,094
                                                                      ---------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                            $  31,381
                                                                      =========

            See accompanying notes to unaudited financial statements

                                       3
<PAGE>
PALOMAR ENTERPRISES, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS

                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                        Period from
                                                                                       March 10, 1999
                                                Three months        Three months    (date of inception)
                                                   ended               ended             through
                                                  March 31,           March 31           March 31,
                                                    2003                2002               2003
                                                 -----------         ----------         ----------
<S>                                              <C>                 <C>                <C>
REVENUES                                         $       180         $       --         $      180

COST OF GOODS SOLD                                        39                 --                 39
                                                 -----------         ----------         ----------

GROSS PROFIT                                             141                 --                141
                                                 -----------         ----------         ----------
OPERATING EXPENSES
  General and administrative expenses                 55,901              2,363             87,320
  Facilities & Rent                                    6,072                 --             32,724
  Consulting, legal and professional fees             11,227                 --             57,591
  Payroll and related expenses                         2,401                 --             43,675
                                                 -----------         ----------         ----------

      TOTAL OPERATING EXPENSES                        75,601              2,363            221,310
                                                 -----------         ----------         ----------

LOSS FROM OPERATIONS                                 (74,561)            (2,363)          (221,169)

OTHER INCOME                                             100                 --             (1,409)
                                                 -----------         ----------         ----------

LOSS BEFORE PROVISION FOR INCOME TAXES               (75,460)            (2,363)          (222,578)

PROVISION FOR INCOME TAXES                                --                 --                 --
                                                 -----------         ----------         ----------

NET LOSS                                             (75,460)            (2,363)          (222,578)

OTHER COMPREHENSIVE INCOME                                --                 --                 --
                                                 -----------         ----------         ----------

COMPREHENSIVE LOSS                               $   (75,460)        $   (2,363)        $ (222,578)
                                                 ===========         ==========         ==========
Net loss per weighted-average share of
 common stock outstanding, - basic and
 fully diluted                                     $( 0.01 )                  *         $    (0.03)
                                                 ===========         ==========         ==========
Weighted-average number of shares
 of common stock outstanding                      10,062,346          9,440,000          8,533,789
                                                 ===========         ==========         ==========
</TABLE>

* - less than $0.01 per share

            See accompanying notes to unaudited financial statements

                                       4
<PAGE>
PALOMAR ENTERPRISES, INC
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                        Period from
                                                                                       March 10, 1999
                                                Three months        Three months    (date of inception)
                                                   ended               ended             through
                                                  March 31,           March 31           March 31,
                                                    2003                2002               2003
                                                 -----------         ----------         ----------
<S>                                              <C>                 <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net loss for the period                        $ (75,460)          $  (2,363)         $(222,578)
  Adjustments to reconcile net loss to net
   cash provided by operating activities
     Depreciation                                      550                  --              1,650
     Common stock issued for services               45,950                  --             94,250
     Increase (Decrease) in:
       Inventory                                    (6,218)                 --             (6,218)
       Prepaid Expenses & Advances                  (2,637)                 --            (10,363)
       Other Assets                                     --                  --             (2,400)
       Accounts payable & Accrued Expenses          (6,682)                863              7,287
                                                 ---------           ---------          ---------

NET CASH USED IN OPERATING ACTIVITIES              (44,497)             (1,500)          (138,372)
                                                 ---------           ---------          ---------
CASH FLOWS FROM INVESTING ACTIVITIES
  Purchase of property & equipment                      --                  --            (11,000)
                                                 ---------           ---------          ---------

CASH FLOWS FROM FINANCING ACTIVITIES
  Purchases of Treasury Stock                           --               1,500            (27,418)
  Proceeds from sales of common stock               37,000                  --            179,840
                                                 ---------           ---------          ---------

NET CASH FROM (USED) IN FINANCING ACTIVITIES        37,000               1,500            152,422
                                                 ---------           ---------          ---------

INCREASE (DECREASE) IN CASH                         (7,497)                 --              3,050

Cash at beginning of period                         10,547                  --                 --
                                                 ---------           ---------          ---------

CASH AT END OF PERIOD                            $   3,050           $      --          $   3,050
                                                 =========           =========          =========
SUPPLEMENTAL DISCLOSURE OF
 INTEREST AND INCOME TAXES PAID
 Interest paid for the period                    $      --           $      --          $      --
                                                 =========           =========          =========
 Income taxes paid for the period                $      --           $      --          $      --
                                                 =========           =========          =========
</TABLE>
            See accompanying notes to unaudited financial statements

                                       5
<PAGE>
PALOMAR ENTERPRISES, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
FOR THE PERIOD ENDED MARCH 31, 2003


NOTE A - ORGANIZATION AND DESCRIPTION OF BUSINESS

Palomar Enterprises, Inc. (Company) was incorporated on March 10, 1999 in
accordance with the laws of the State of Nevada. The Company was initially
formed for the purpose of developing an aircraft service company for private
aircraft owners that would offer on-site preventative maintenance and repair
services. There were no material operating activities under this plan, and it
was abandoned in 2001.

In October 2001, the Company launched a new debt acquisition business whereby it
would acquire non-performing debt from financial institutions and use the
services of various debtor location services to attempt collection of these
purchased amounts. There have been no revenues recorded from this line of
business, and it is no longer being pursued.

In February 2003, the Company entered the nutraceutical market. Total revenues
to date recorded from this line of business is $180.

The Company faces many operating and industry challenges. There is no meaningful
operating history to evaluate the Company's prospects for successful operations.
Future losses for the Company are anticipated. The proposed plan of operations
would include attracting investors to fund expansion and ongoing operations.

NOTE B - PREPARATION OF FINANCIAL STATEMENTS

The accompanying unaudited financial statements have been prepared in accordance
with accounting principles generally accepted in the United States for interim
financial information and the instructions for Form 10-QSB and Regulation S-B.
Accordingly, they do not include all of the information and footnotes required
by accounting principles generally accepted in the United States for complete
financial statements. All adjustments that, in the opinion of management are
necessary for a fair presentation of the results of operations for the interim
periods have been made and are of a recurring nature unless otherwise disclosed
herein. The results of operations for the three months ended March 31, 2003 are
not necessarily indicative of the results that will be realized for the entire
fiscal year. These financial statements should be read in conjunction with the
Company's Annual Report on Form 10-KSB for the year ended December 31, 2002.

The Company follows the accrual basis of accounting in accordance with
accounting principles generally accepted in the United States of America and has
adopted a year-end of December 31.

The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America 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.

Management further acknowledges that it is solely responsible for adopting sound
accounting practices, establishing and maintaining a system of internal
accounting control and preventing and detecting fraud. The Company's system of
internal accounting control is designed to assure, among other items, that 1)
recorded transactions are valid; 2) valid transactions are recorded; and 3)
transactions are recorded in the proper period in a timely manner to produce
financial statements which present fairly the financial condition, results of
operations and cash flows of the Company for the respective periods being
presented

                                       6
<PAGE>
NOTE C - GOING CONCERN UNCERTAINTY

Due to the lack of sustaining operations from inception, the Company is
considered in the development stage and, as such, has generated no significant
operating revenues and has incurred cumulative operating losses of approximately
$223,000

Further, the Company has abandoned its initial business plan and a successor
business plan to support future operations.

The Company is fully dependent upon the available cash on hand and either future
sales of securities or upon its current management and/or advances or loans from
controlling shareholders or corporate officers to provide sufficient working
capital to preserve the integrity of the corporate entity during the development
phase.

There is no assurance that the Company will be able to obtain additional funding
through the sales of additional securities or, that such funding, if available,
will be obtained on terms favorable to or affordable by the Company. It is the
intent of management and controlling shareholders to provide sufficient working
capital necessary to support and preserve the integrity of the corporate entity.

However, there is no legal obligation for either management and/or controlling
shareholders to provide such additional funding.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As mentioned above, the Company has
not obtained the capital needed to achieve management's plans and support its
operations, and there is no assurance that the Company will be able to raise
such financing. These factors raise considerable doubt about the Company's
ability to continue as a going concern. The financial statements do not include
any adjustments that might result from this uncertainty.

NOTE D - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. CASH AND CASH EQUIVALENTS

   The Company considers all cash on hand and in banks, including accounts in
   book overdraft positions, certificates of deposit and other highly-liquid
   investments with maturities of three months or less, when purchased, to be
   cash and cash equivalents.

2. RESEARCH AND DEVELOPMENT EXPENSES

   Research and development expenses are charged to operations as incurred.
   There were no research and development costs incurred in the three months
   ended March 31, 2003.

3. ADVERTISING EXPENSES

   Advertising and marketing expenses are charged to operations as incurred.
   Advertising expenses from date of inception have been immaterial.

4. INCOME TAXES

   The Company utilizes the asset and liability method of accounting for income
   taxes Temporary differences represent differences in the recognition of
   assets and liabilities for tax and financial reporting purposes, primarily
   accumulated depreciation and amortization.

   As of March 31, 2003, respectively, the deferred tax asset is related solely
   to the Company's net operating loss carryforward and is fully reserved.

                                       7
<PAGE>
5. EARNINGS (LOSS) PER SHARE

   Basic earnings (loss) per share is computed by dividing the net income (loss)
   by the weighted-average number of shares of common stock and common stock
   equivalents (primarily outstanding options and warrants). Common stock
   equivalents represent the dilutive effect of the assumed exercise of the
   outstanding stock options and warrants, using the treasury stock method. The
   calculation of fully diluted earnings (loss) per share assumes the dilutive
   effect of the exercise of outstanding options and warrants at either the
   beginning of the respective period presented or the date of issuance,
   whichever is later. As of March 31,2003, the Company's outstanding warrants
   are considered anti-dilutive due to the Company's net operating loss
   position.

6. USE OF ESTIMATES

   The preparation of financial statements in conformity with accounting
   principles generally accepted in the United States of America 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 accounting period. Actual results could differ from
   those estimates.

NOTE E - FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amount of cash, accounts payable and accrued liabilities, as
applicable, approximates fair value due to the short term nature of these items.

NOTE F - RELATED PARTY TRANSACTIONS

Through March 31, 2003, the Company has advanced $ 31,492 to various affiliated
entities and former corporate officers. These advances were all repaid or
written off as of December 31, 2002.

NOTE G - STOCK WARRANTS

In May and June 2002, in connection with the sale of Units pursuant to a Private
Placement Memorandum, dated May 15, 2002, the Company issued stock warrants
(5/15/02 Warrants) to the purchasers of 550,000 shares of common stock to
purchase up to an additional 550,000 shares of restricted, unregistered common
stock at a price of $1.00 per share.

In August and September 2002, in connection with the sale of Units pursuant to a
Private Placement Memorandum, dated August 1, 2002, the Company issued stock
warrants (8/1/02 Warrants) to the purchasers of 515,000 shares of common stock
to purchase up to an additional 515,000 shares of restricted, unregistered
common stock at a price of $1.00 per share.

                                      Warrants
                                    outstanding at
                                    March 31, 2003        Exercise price
                                    --------------        --------------
    5/15/02 Warrants                    550,000          $1.00 per share
    8/1/02 Warrants                     565,000          $1.00 per share
                                      ---------
    Totals at March 31, 2003          1,065,000
                                      =========

The warrants have no stated expiration date.

                                       8
<PAGE>
PART I - ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS

(1) CAUTION REGARDING FORWARD-LOOKING INFORMATION

Certain statements contained in this quarterly filing, including, without
limitation, statements containing the words "believes", "anticipates", "expects"
and words of similar import, constitute forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
the Company, or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.

Such factors include, among others, the following: international, national and
local general economic and market conditions: demographic changes; the ability
of the Company to sustain, manage or forecast its growth; the ability of the
Company to successfully make and integrate acquisitions; raw material costs and
availability; new product development and introduction; existing government
regulations and changes in, or the failure to comply with, government
regulations; adverse publicity; competition; the loss of significant customers
or suppliers; fluctuations and difficulty in forecasting operating results;
changes in business strategy or development plans; business disruptions; the
ability to attract and retain qualified personnel; the ability to protect
technology; and other factors referenced in this and previous filings.

Given these uncertainties, readers of this Form 10-QSB and investors are
cautioned not to place undue reliance on such forward-looking statements. The
Company disclaims any obligation to update any such factors or to publicly
announce the result of any revisions to any of the forward-looking statements
contained herein to reflect future events or developments.

(2) GENERAL

On February 10, 2003 Palomar Enterprises announced that it will enter into the
nutraceutical industry because of the potential growth in the nutritional
market. The nutritional market is a relatively new but old proven market. Humans
have used nutrients and minerals and herbs for centuries to help heal and/or
cure their ailments. The United States Market for nutritional supplements is
highly fragmented and historically has grown rapidly, generating $9.0 billion in
2001 calendar year retail stores. We believe the growth was due to a number of
factors, including healthier lifestyles, living longer, and living well. The
publications of research findings supporting the positive health effects of
certain nutritional supplements. The aging of the "Baby Boom" generation
combined with the tendency of consumers to purchase more nutritional supplements
and natural as they age.

On March 25, 2003 the company announced the launching of JustBuyItToday.com(TM)
website, and its first product called "ArouseAll".

JustBuyitToday.com, which is a company that specializes in new and unique
products not yet available in retail stores. The websites products include
nutraceutical supplements, medical test kits, weight control products, and other
unique products.

JustBuyItToday.com is committed to offering you the newest products that will
soon be available in stores. Consumers have an opportunity to own it first and
may enjoy value pricing for this limited time. Products will be removed from the
website site once they become available in stores.

JustBuyItToday.com products will vary as the company is looking to fulfill
consumer needs, preview new and innovative products and preview only products,
which are scheduled to be in the public retail market. The service is to provide
the new and innovative products to JustBuyItToday.com clients first and at a
value. At the same time, JustBuyItToday.com will provide the vendor the ability
to market and sell product, as well as gauge the demand for the product without
creating a huge liability via manufacturing costs or miss-pricing the products
in the open market.

                                       9
<PAGE>
Palomar's plan is to extend it's marketing and value pricing by owning and
operating a distribution center to better control shipping and delivery
standards and costs, providing an annual membership which would allow these
select clients special products and values in addition to the featured items and
providing infomercials for products where more information is required for the
consumer to understand the product's true value.

PLAN OF OPERATION

As discussed above, the Company intends to develop and distribute numerous
nutraceutical products under its own brand name. We have begun these operations
on a small scale in the second quarter of the year ended December 31, 2003. The
Company has arranged for its first product to be sold via an internet
distribution outlet. The product will be listed on the web site catalog and
there will be direct e-mail solicitations. The Company does not believe that it
will generate significant volume solely using this distribution method but
believes that it provides a good introduction for the Company's products. The
Company will use outside parties to formulate new products. Third parties will
also be used to manufacture and label products.

There can be no guarantees that the Company will be successful in generating
sales volumes sufficient to generate profitable operations and adequate cash
flow to support operations. The nutraceuticals industry is highly competitive
and the introduction of new products and establishment of a distribution system
are crucial to success. The Company will require additional debt or equity
capital in order to successfully establish itself and to achieve recognition of
products needed to attain sales volumes sufficient to support ongoing
operations.

RESULTS OF OPERATIONS

SALES

We had initial sales of $180 for the three months ended March 31, 2003. The
Company has not yet launched its new business operations.

GENERAL AND ADMINISTRATIVE EXPENSES

General and administrative expenses for the years ended March 31, 2003 and 2002
were $10,052 and $2,363, respectively. This increase, $7,689, was due to our
increased activities during our ramping up of operations for our new business
plan and our entering the Nutraceutical market. The major components of this
increase were marketing and promotion of $1,0464 and office expenses of $1,838.
Depreciation expense of $550 and telephone expenses of $2,354 were the other
components of our General and Administrative expenses.

FACILITIES RENT AND EXPENSES

Facilities rent and expenses were $6,072 and $0 for the years ended March 31,
2003 and 2002. During 2002 we were obligated, by prior management, to a lease on
facilities which were too large and costly for our current operations. We have
since moved to a smaller space which should be adequate until our sales increase
and larger warehouse facilities are required for inventory and shipping product.

CONSULTING, LEGAL AND ACCOUNTING FEES

Our consulting, legal and accounting fees for the years ended March 31, 2003 and
2002 were $11,227 and $0. During the three months ended March 31, 2003 our
consulting and fees were $2,828. This amount was due to our website development
as well as product development for our new line of Nutraceutical products. Legal
expenses were $475 and accounting fees were $7,924.

                                       10
<PAGE>
PAYROLL AND RELATED EXPENSES

Our payroll and related expenses for the three months ended March 31, 2003 and
2002 were $2,401 and $0. Of this amount $1,000 was for officers salaries and
$354 was for office staff. Payroll taxes were $1,047 for the Three months ended
March 31, 2002. We have since reduced our office staff and officers are not
taking salaries until our sales are adequate to support our operations.

OTHER INCOME

Other Income for the three months ended March 31, 2003 and 2002 were $100 and
$0.

NET INCOME/(LOSS)

The net loss for the three months ended March 31, 2003 and 2002 were ($29,511)
and ($2,363). Our net loss for the three months reflects increased costs related
to the development of our new line of products as well as the development of our
new business plan.

EARNINGS PER SHARE

Earnings(Loss) per share was ($0.01) in the year ended December 31, 2002.

LIQUIDITY AND CAPITAL RESOURCES

Our working capital at March 31, 2003 was $12,344. The Company is dependent upon
certain shareholders, officers and directors to fund the minimum amount required
to maintain an office and begin the newly planned operations.

It is the intent of management and significant stockholders to provide
sufficient working capital necessary to support and preserve the integrity of
the corporate entity. However, there is no legal obligation for either
management or significant stockholders to provide additional future funding.
Should this pledge fail to provide financing, we have not identified any
alternative sources. Consequently, there is substantial doubt about our ability
to continue as a going concern.

Our need for capital may change dramatically as a result of the implementation
of our current business plan or the initiation of any business acquisition or
combination transaction. There can be no assurance we will identify any such
business, product, technology or company suitable for acquisition in the future.
Further, there can be no assurance we will be successful in consummating any
acquisition on favorable terms or we will be able to profitably manage the
business, product, technology or company it acquires.

As discussed above, as the Company enters the nutraceuticals business, we will
require capital to maintain inventories and accounts receivable. Management has
not yet formulated projections on what that amount will be. Management intends
to analyze the success of its products just introduced before formulating short
term sales projections needed to determine capital requirements.

The current management group may also seek, investigate and, if warranted,
acquire an interest in one or more business opportunities or ventures. We may
also seek out established businesses which may be experiencing financial or
operational difficulties and are in need of the limited additional capital we
could provide. Due to the absence of capital available for investment by us, the
types of businesses seeking to be acquired by the us will no doubt be smaller
and higher risks of businesses. In all likelihood, a business opportunity will
involve the acquisition of or merger with a corporation which does not need
additional cash but which desires to establish a public trading market for its
Common Stock. Accordingly, our ability to acquire any business of substance may
be extremely limited.

                                       11
<PAGE>
ITEM 3.  CONTROLS AND PROCEDURES

The Company maintains disclosure controls and procedures that are designed to
ensure that information required to be disclosed in our annual and periodic
reports filed with the SEC is recorded, processed, summarized and reported
within the time periods specified in the SEC's rules and forms. These disclosure
controls and procedures are further designed to ensure that such information is
accumulated and communicated to our management, including our Chief Executive
Officer and Principal Accounting Officer, to allow timely decisions regarding
required disclosure.

Based on the most recent evaluation, which was completed within 90 days of the
filing of this report, our Chief Executive Officer and Principal Accounting
Officer believes that the Company's disclosure controls and procedures are
effective and there have been no significant changes in the Company's internal
controls or in other factors that could significantly affect the internal
controls subsequent to the date of the most recent evaluation.

                           PART II - OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS

None

ITEM 2 - CHANGES IN SECURITIES

During the three months ended March 31, 2003 the Company issued, through private
placement, 1,187,000 shares of common stock for cash in the amount of $37,000.

There were no underwriters involved in the issuance of these shares and the
securities were not publicly offered for sale. The Company believes that the
sale of the Units is exempt from registration under Section 4(2) of the
Securities Act of 1933 and Rule 506 of Regulation D of the Securities Act. The
Company relied upon its knowledge of each of the purchasers and information
provided in the Subscription Agreements executed by each of the persons
acquiring Units, affirming that they were "accredited investors" under
Regulation D of the Securities Act.

The proceeds from the Private Placement were used by the Company for funding of
general corporate purposes.

The Company also issued 1,000,000 shares of its common stock to various
individuals as consideration for services rendered.

ITEM 3 - DEFAULTS ON SENIOR SECURITIES

     None

ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     None

ITEM 5 - OTHER INFORMATION

     None

ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits

    99.1  Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section
          1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
          2002

(b) Reports on Form 8-K

    January 17, 2003 - Filed Qualified Stock Option Plan
    March 27, 2003 - Registration Statement Withdrawal
    March 27, 2003 - Change In Registrant's Certifying Accountants
    April 1, 2003 - Unscheduled Material Event
    April 8, 2003 - Unscheduled Material Event
    April 16, 2003 - Unscheduled Material Event
    April 25, 2003 - Unscheduled Material Event

                                       12
<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.

                                      PALOMAR ENTERPRISES, INC.


Dated: May 10, 2003                   By: /s/ Jeffery Halbirt
       ------------                      ------------------------------
                                         Jeffery Halbirt
                                         President, Chief Executive Officer
                                         and Chief Accounting Officer

                                       13
<PAGE>
                                 CERTIFICATIONS

I, Jeffery Halbirt, certify, pursuant to Rule 13a-4 of the Securities Exchange
Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of
2002, with respect to the Quarterly Report of Palomar Enterprises, Inc.
("PALOMAR") on Form 10-QSB for the quarterly period ended March 31, 2003
("REPORT") that:

(1) I have reviewed this Report;

(2) based on my knowledge, this Report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this Report;

(3) based on my knowledge, the financial statements and other financial
information included in this Report, fairly present in all material respects the
financial condition, results of operations and cash flows of PALOMAR as of, and
for the periods presented in this Report;

(4) I am responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for PALOMAR and
I have: (a) designed such disclosure controls and procedures to ensure that
material information relating to PALOMAR is made known to me by others,
particularly during the period in which this Report is being prepared; (b)
evaluated the effectiveness of PALOMAR's disclosure controls and procedures as
of a date within 90 days prior to the filing date of this Report (the
"EVALUATION Date"); and (c) presented in this Report my conclusions about the
effectiveness of the disclosure controls and procedures based on my evaluation
as of the Evaluation Date;

(5) I have disclosed, based on my most recent evaluation, to our auditors and
the audit committee of our board of directors (or persons performing the
equivalent function): (a) all significant deficiencies in the design or
operation of internal controls which could adversely affect our ability to
record, process, summarize and report financial data and have identified for our
auditors any material weaknesses in internal controls; and (b) any fraud,
whether or not material, that involves management or other employees who have a
significant role in our internal controls; and

(6) I have indicated in this Report whether or not there were significant
changes in internal controls or in other factors that could significantly affect
internal controls subsequent to the date of my most recent evaluation, including
any corrective actions with regard to significant deficiencies and material
weaknesses.

                                      By: /s/ Jeffery Halbirt
                                         ---------------------------------------
                                         Jeffery Halbirt Chief Executive Officer

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