FORM 10-QSB

                     SECURITIES AND EXCHANGE COMMISSION
                           Washington D.C.  20549

                Quarterly Report Under Section 13 or 15 (d)
                   Of the Securities Exchange Act of 1934

                 For Quarter Ended    September 30, 2003
                                   ------------------------

                  Commission File Number     000-28727
                                         -----------------

                       SOFTWALL EQUIPMENT CORPORATION
           -----------------------------------------------------
           (Exact name of registrant as specified in its charter)

          UTAH                                              87-06254752
--------------------------------                        -------------------
(State or other jurisdiction of                          (IRS Employer
 incorporation or organization)                         Identification No.)

                           11602 Colchester Drive
                             SANDY, UTAH 84092
                  ---------------------------------------
                  (Address of principal executive offices)

     Registrant's telephone number
     including area code                                (801) 572-4724
                                                        ---------------

                --------------------------------------------
                Former Address, if changed since last report

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or such shorter period that the
registrant was required to file such reports)

     Yes  X    No
        -----    -----

and (2) has been subject to such filing requirements for the past 90 days.

     Yes  X    No
        -----    -----

                                  141,427
            ----------------------------------------------------
            (Number of shares of common stock the registrant had
                   outstanding as of  November 13, 2003)
                                       -----------------


                                   PART 1

ITEM 1 - FINANCIAL STATEMENTS

     The condensed financial statements included herein have been prepared by
the Company, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission.  Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed or omitted
pursuant to such rules and regulations, although the Company believes that
the disclosures are adequate to make the information presented not
misleading.

     In the opinion of the Company, all adjustments, consisting of only
normal recurring adjustments, necessary to present fairly the financial
position of the Company as of September 30, 2003 and the results of its
operations and changes in its financial position from December 31, 2002
through September 30, 2003 have been made.  The results of its operations for
such interim period is not necessarily indicative of the results to be
expected for the entire year.







































                                     2

                       Softwall Equipment Corporation
                       (a Development Stage Company)
                               Balance Sheet
<Table>
<Caption>
                                                September 30,  December 31,
                                                     2003          2002
                                                 ------------  ------------
<S>                                             <C>           <C>
                                                  (Unaudited)

                                   ASSETS
Current Assets
--------------
 Cash                                            $     1,803   $     2,345
                                                 ------------  ------------

Property Plant & Equipment (Net)                       7,904        12,311
--------------------------------                 ------------  ------------

Other Assets
------------
 Patent                                               25,075        20,480
                                                 ------------  ------------

  Total Assets                                   $    34,782   $    35,136
                                                 ============  ============

                    LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
-------------------
 Accounts Payable and Accrued Expenses           $    82,451   $    70,438
 Accounts Payable - Related Party                       -           10,000
 Interest Payable                                     19,183        11,279
 Note Payable-Related Party                          315,914       266,660
                                                 ------------  ------------
  Total Current Liabilities                          417,548       358,377

Stockholders' Equity
--------------------
 Common Stock, Authorized 50,000,000
  Shares of $.001 Par Value, Issued and
  Outstanding 141,427, Retroactively Restated,
  Respectively                                        14,142        14,142
 Capital in Excess of Par Value                       29,325        29,325
 (Deficit) Accumulated During
  Development Stage                                 (426,232)     (366,708)
                                                 ------------  ------------
  Total Stockholders' Equity                        (382,765)     (323,241)
                                                 ------------  ------------
  Total Liabilities and Stockholders' Equity     $    34,782   $    35,136
                                                 ============  ============




</Table>

              See accompanying notes to financial statements.
                                     3


                       Softwall Equipment Corporation
                       (a Development Stage Company)
                          Statement of Operations
                                (Unaudited)
<Table>
<Caption>
                                                                            For the
                                                                             Period
                                                                             October
                              For the Three             For the Nine        5, 1998
                              Months Ended              Months Ended      (Inception)
                        -----------------------  -----------------------       to
                         September   September    September   September    September
                          30, 2003    30, 2002     30, 2003    30, 2002     30, 2003
                        ----------- -----------  ----------- -----------  -----------
<S>                    <C>          <C>         <C>          <C>         <C>
Revenues
--------
 Consulting Revenues    $    -      $    -       $    -      $    7,736   $   19,284
                        ----------- -----------  ----------- -----------  -----------
   Total Revenues            -           -            -           7,736       19,284

Expenses
--------
 General and
  Administrative            23,105      53,171       81,601      75,418      421,380
 Depreciation Expense        1,538       1,434        4,406       4,302       21,474
 Research & Development      -           -            -           -           16,715
                        ----------- -----------  ----------- -----------  -----------
   Total Expenses           24,643      54,605       86,007      79,720      459,569
                        ----------- -----------  ----------- -----------  -----------
   Loss from Operations    (24,643)    (54,605)     (86,007)    (71,984)    (440,285)

Other Income (Expenses)
-----------------------
 License Fee Income          8,500       -           35,400       -           44,700
 Interest Expense           (2,958)     (1,241)      (8,913)      3,642      (20,397)
 Loss on Abandonment of
  Purchase Agreement         -           -            -           -          (10,000)
 Gain (Loss) on Sale
  of Equipment               -           -            -           -               50
                        ----------- -----------  ----------- -----------  -----------
   Total Other
   (Expenses)                5,542      (1,241)      26,487       3,642       14,353
                        ----------- -----------  ----------- -----------  -----------
   (Loss) Before Taxes     (19,101)    (55,846)     (59,520)    (75,626)    (425,932)

   Taxes                     -           -            -           -              300
                        ----------- -----------  ----------- -----------  -----------
   Net (Loss)           $  (19,101) $  (55,846)  $  (59,520) $  (75,626)  $ (426,232)
                        =========== ===========  =========== ===========  ===========
   Net (Loss)
   Per Share            $    (0.14) $    (0.39)  $    (0.42) $    (0.53)

   Weighted Average
   Shares Outstanding      141,427     141,427      141,427     141,427


</Table>

              See accompanying notes to financial statements.
                                     4

                       Softwall Equipment Corporation
                       (a Development Stage Company)
                          Statement of Cash Flows
                                (Unaudited)
<Table>
<Caption>
                                                                           For the
                                                                            Period
                                                                            October
                                                     For the Nine          5, 1998
                                                  Months Periods Ended   (Inception)
                                                -----------------------       to
                                                September     September    September
                                                 30, 2003      30, 2002     30, 2003
                                              -----------  ------------  ------------
<S>                                           <C>          <C>           <C>
Cash Flows from Operating Activities
------------------------------------
 Net (Loss)                                   $  (59,520)  $   (75,626)  $  (426,232)
 Adjustments to Reconcile Net (Loss) to
 Net Cash Provided by Operating Activities:
  Depreciation Expense                             4,405         4,302        21,473
  Stock for Services/Expenses                       -             -           18,218
  Increase (Decrease) in Accounts Receivable  -           (2,200)       -
  Increase (Decrease) in Accounts Payable          2,011         3,854        82,451
  Increase (Decrease) in Accrued Interest          7,903         3,435        19,183
                                              -----------  ------------  ------------
   Net Cash Flows Provided (Used)
   by Operating Activities                       (45,201)      (66,235)     (284,907)

Cash Flows from Investing Activities
------------------------------------
 Purchase of Fixed Assets                           -             -          (29,379)
 Payments for Patent Cost                         (4,595)         (367)      (25,075)
                                              -----------  ------------  ------------
   Net Cash Flows Provided (Used)
   by Investing Activities                        (4,595)         (367)      (54,454)

Cash Flows from Financing Activities
------------------------------------
 Cash from Issuance of Common Stock                 -             -           25,250
 Proceeds from Notes Payable                      53,790        63,506       320,450
 Payments on Notes Payable                        (4,536)         -           (4,536)
                                              -----------  ------------  ------------
   Net Cash Flows Provided (Used)
   by Financing Activities                        49,254        63,506       341,164
                                              -----------  ------------  ------------
   Net Increase (Decrease) in Cash                  (542)       (3,096)        1,803
   Cash, Beginning of Period                       2,345         3,129          -
                                              -----------  ------------  ------------
   Cash, End of Period                        $    1,803   $        33   $     1,803
                                              ===========  ============  ============

Supplemental Cash Flow Information
----------------------------------
 Interest                                     $     -      $      -      $      -
 Taxes                                              -             -              200
 Stock Issued for Assets                            -             -           18,010
 Stock Issued for Services                          -             -            5,017

</Table>

              See accompanying notes to financial statements.
                                     5

                       Softwall Equipment Corporation
                       (a Development Stage Company)
                     Notes to the Financial Statements
                             September 30, 2003

NOTE 1 - PREPARATION OF FINANCIAL STATEMENTS
--------------------------------------------

The financial statements for the nine months ended September 30, 2003 were
prepared from the books and records of the company.  Management believes that
all adjustments have been made to the financial statements to make a fair
presentation of the financial condition of the company as of September 30,
2003.  The results of the nine months are not indicative of a full year of
operation for the Company.

Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting
principles have been condensed or omitted.  It is suggested that these
financial statements be read in conjunction with the financial statements and
notes thereto included in the Company's December 31, 2002 audited financial
statements.  The results of operations for the period ended September 30,
2003 are not necessarily indicative of the operating results for the full
year.

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS.

Liquidity and Capital Resources
-------------------------------

The Company does not pay rent, has no ongoing compensations costs, or any
other long term or ongoing business overhead commitments.

In its initial offering the company issued a limited amount of stock to cover
some start-up and business expenses.  Randall D. Peterson has been working on
behalf of the company since its inception without pay and has billed his
professional time since inception.  Mr. Peterson has a consulting contract
with the Company and has billed his hours on an ongoing basis.  Mr. Peterson
has been careful to not incur company expenses when there have not been
sufficient funds to cover them.  He has done this by operating the company
business from his consulting office in his home, and by loaning the company
money to cover expenses, and by taking promissory notes in lieu of payment
for his professional fees.

IMC Phosphate has donated funds to BYU for the continuing development of the
technology and Peterson has contributed his professional time to that as
well.

Listed in order of priority, future capital funding will come from government
grants, debt financing, and additional offerings.  Peterson intends to
combine his consulting practice as part of the company when the company is in
a financial position to pay him a salary.

Once the technology is fully tested and demonstrated to the mining industry
and as opportunities allow, the Company may enter into a long term joint
venture with an existing manufacturing company already established in the
mining industry or with an existing mining company or that it may acquire
mineral properties or leases of its own to operate at a profit.

                                     6

Results of Operations
---------------------

Other income this quarter was entirely from the single SACUM license at New
Stansbury Coal Company, LLC.

This quarter was spent working with NSCC in showing the SACUM system at the
LW USA 2003 trade show in Pittsburgh, PA and in writing the article for
Engineering and Mining Journal regarding progress on the Softwall Mining
Machine prototype.  As of this writing the article has appeared in the
October issue of that magazine.

Further BYU prototyping of the Softwall machine was put on hold this year for
two reasons:  1) All fundamental aspects of the invention have been proven
and 2) New Stansbury Coal Company, LLC is taking more time with SACUM.

The company made a tentative future offer to Mr. David Bingham as Vice
President of Mechanical Engineering.   He accepted the offer subject to the
company's ability to provide a reasonable salary and benefit package, which
it is not currently able to do.   Mr. Bingham brings an added dimension to
Softwall Equipment Corporation.  He has extensive experience in Coal
Preparation Design and has current plans for portable coal preparation plants
with a ready market.  With the Western coal mines focusing on higher sulfur
coal we see this as an area for Softwall to expand into.  Hence, we are
enthusiastic about the prospects of working with Mr. Bingham.


SACUM CONVEYOR
--------------

In April the Company and New Stansbury Coal Company LLC (NSCC) were
approached by Conveyor Services Corporation (CSC) of Pittsburgh, PA as
interested in the SACUM conveyor technology and operations at NSCC.  CSC is
the largest re-manufacturer of Conveyors in the United States and has the
majority of the market share for new belting sold in coalmines in the US as
well.  CSC's President Troy Dolan toured the BYU facilities with the Company
and with NSCC.  The three companies jointly decided to display at SACUM at
the Longwall USA2003 show in Pittsburgh, PA. CSC had already made
reservations for a booth so it extended its booth size to accommodate
Softwall/NSCC and fabricated a SACUM display for the Company shown in the
picture below.

Several companies expressed interest in using the SACUM Conveyor at the show.
However, the purpose of the show was not to sell the SACUM system but rather
to illustrate how it will be put to use so that mining engineers can be
thinking and planning out  reserve strategies for years ahead.  Our business
strategy is simple.  We need to demonstrate the SACUM system first, then
market it after we have shown how it works in an affiliated operation where
we have some measure of control.
The Softwall DVD was also displayed on the laptop on the table but it was the
wrong audience.   Longwall  USA is primarily a coal show and Softwall is
aggregates technology.



                                     7

Plan of Operations
------------------

Proposed US Technical Merger
----------------------------

The company began the year with tentative plans to merge operations with US
Technical Consultants.  However, material misrepresentations of financial
conditions and UST's refusal to provide produce an audit made it necessary to
terminate the agreement.  UST has filed claim against the company for breach
of contract and the company has filed a counterclaim against UST for its
damages in federal court.

Softwall Mining Technology
--------------------------
The company began its 5th year of engineering and field testing of the SW2
prototype at Brigham Young University.  Professor Mortensen published an
article summarizing the work completed in the first 4 years at BYU in mining
engineering magazine February, 2003 issue which included a successful test of
the machine in a windrow reclaim application.  At the time of writing this
report the 5th year of testing is now complete and the machine has been
proven in subsurface mining as well.  More technical articles will be
forthcoming in the engineering and mining journals.

Plans for the coming year will involve further refinement of the water
sluicing system and commercial demonstration for tailings mining.

SACUM Conveyor Technology
-------------------------
The Company has reached an agreement with New Stansbury Coal Company, LLC
(NSCC) to license its SACUM Conveyor technology for exclusive use by NSCC.
NSCC paid the company $9,300 for right of first refusal to an exclusive
license to all rights to US Patent 5,997,101 until Jan 31, 2003.  It is
expected that the option will be converted to a license agreement with
royalty and other terms some time during 2003.  Randall Peterson is Manager
Member for NSCC.

In December, 2002 NSCC announced that it had executed a Purchase and Sale
Agreement with Anadarko Petroleum Corporation to purchase the Stansbury Coal
Mine.  NSCC has prepared mine plans for reopening the mine and for using the
SACUM Conveyor technology.  NSCC has submitted its business plans to the
Wyoming Business Council (WBC) for help in funding through the Wyoming State
Treasurer's office.  WBC in its due diligence retained two mining engineering
firms to review its mine plans and one business consultant to review its
business plans.  A reserve analysis was the subject of one of the engineering
reports and technical feasibility study of the SACUM Conveyor was the subject
of the other.  It was very favorable regarding the SACUM system.  The
recommendation from WBC to the State Treasurer was to proceed with an
Industrial Development Bond loan up to $12,000,000.  When this IDB is awarded
it will be the largest one ever awarded in the state of Wyoming.  Over
$2,000,000 of it is for building the first SACUM Conveyor and depending upon
the success of the first one more than 3,000,000 is budgeted for 2 additional
units in later years.



                                     8

                                  PART II

OTHER INFORMATION

Item 1.   Legal Proceedings. . . . . . . . . . . . . . . . . . . . . . None

Item 2.   Changes in Securities. . . . . . . . . . . . . . . . . . . . None

Item 3.   Defaults Upon Senior Securities. . . . . . . . . . . . . . . None

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

Item 5.   Other Information. . . . . . . . . . . . . . . . . . . . . . None

Item 6.   Exhibits

          31.1  Certification of Principal Executive Officer . . . Attached

          32.1  Certification Pursuant to Section 906 of the
                Sarbanes-Oxley Act of 2002 . . . . . . . . . . . . Attached


                                 SIGNATURES

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


Dated: November 14, 2003           Softwall Equipment Corporation

                                   /S/ Randall Peterson
                                   -------------------------------------
                                   Randall Peterson
                                   Director

































                                     9