U.S. Securities and Exchange Commission
                             Washington, D.C. 20549


                                   Form 10-QSB

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

             For the quarter ended March 31, 2001

--------------------------------------------------------------------------------

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

             For the transition period from          to

Commission File No.

VANADIUM INTERNATIONAL, INC
--------------------------------------------------------------------------------
(Name of Small Business Issuer in its Charter)

          NEVADA                                             88-0402908
     ------------------                           ------------------------------
 (State or Other Jurisdiction of                     (I.R.S. Employer I.D. No.)
  incorporation or organization)

                                  2525 Sharon Way
                                  Reno, NV  89509
                                --------------------
                       (Address of Principle Executive Offices)

                      Issuer's Telephone Number:  (604) 244-0964

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 Company was required to file such reports). And (2) has been
subject to such filing requirements for the past 90 days.
          (1) Yes   X       No          (2)  Yes  X       No
                   ----        ----               ----        ----



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                     (APPLICABLE ONLY TO CORPORATE ISSUERS)

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

                    March 31, 2001: Common Stock - 21,156,000

                      DOCUMENTS INCORPORATED BY REFERENCE

A description of any "Documents Incorporated by Reference" is contained in Item
6 of this report.

Transitional Small Business Issuer Format    Yes           No    X
                                                 -----          -----



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                             VANADIUM INTERNATIONAL, INC.

                                  TABLE OF CONTENTS

PART I.     FINANCIAL INFORMATION                                       PAGE

Item 1.  Financial Statements:

Balance Sheets as of March 31, 2001 and
December 31, 2000                                                          5

Statements of Operations for the three months ended
March 31, 2001 and March 31, 2000 and from Inception through
March 31, 2001                                                             6

Statements of Cash Flow for the three months ended
March 31, 2001 and March 31, 2000 and from Inception through
March 31, 2001                                                             7

Notes to Financial Statements for the three months ended
March 31, 2001 and March 31, 2000 and from Inception through
March 31, 2001                                                             9

Item 2.  Management's Plan of Operations                                  10

PART II.     OTHER INFORMATION

Item 1.  Legal Proceedings                                                10

Item 2.  Changes in Securities                                            11

Item 3.   Defaults upon Senior Securities                                 11

Item 4.   Submission of Matters to a Vote of Securities Holders           11

Item 5.   Other Information                                               11

Item 6.   Exhibits and Reports on Form 8 - K                              11

Signatures                                                                11


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PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements

The Financial Statements of the Company required to be filed with this 10-QSB
Quarterly Report were prepared by management and commence on the following page,
together with related Notes.  In the opinion of management, these Financial
Statements fairly present the financial condition of the Company, but should be
read in conjunction with the Financial Statements of the Company for the year
ended December 31, 2000 previously filed with the Securities and Exchange
Commission.


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                          VANADIUM INTERNATIONAL, INC.
                         (FORMERLY U.S. VANADIUM CORP.)
                          (A DEVELOPMENT STAGE COMPANY)
                                  BALANCE SHEET

March 31, 2001 and December 31, 2000        ASSETS

CURRENT ASSETS                                      Mar 31,2001     Dec 31,2000
                                                    -----------     -----------

     CASH                                          $     26,017    $     92,823
     ADVANCES                                            55,000          10,000
                                                   ------------    ------------
       TOTAL CURRENT ASSETS                        $     81,017    $    102,823

MINERAL ACQUISITIONS
     MINERAL PROPERTY                              $    100,000    $    100,000

                                                   ------------    ------------
       TOTAL ASSETS                                $    181,017    $    202,823
                                                   ------------    ------------

                    LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
     ACCOUNTS PAYABLE                              $     18,292    $     24,606
     DUE TO RELATED PARTIES                               2,277           2,090
                                                   ------------    ------------
       TOTAL CURRENT LIABILITIES                   $     20,569    $     26,695
                                                   ------------    ------------

       TOTAL LIABILITIES                           $     20,569    $     26,695
                                                   ------------    ------------

STOCKHOLDERS' EQUITY (DEFICIENCY)

SHARE CAPITAL - NOTE 2

AUTHORIZED:
   80,000,000 common shares, $0.01 par value
   20,000,000 preferred shares, $0.01 par value
ISSUED:
   21,156,000 common shares                        $     26,160    $     26,160

   CONTRIBUTED SURPLUS                                  548,467         548,467

   DEFICIT ACCUMULATED DURING THE
      DEVELOPMENT STAGE                                (414,179)       (398,500)
                                                   ------------    ------------
       TOTAL STOCKHOLDERS' EQUITY (DEFICIT)             160,448         176,127
                                                   ------------    ------------

       TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY  $    181,017    $    202,823


    THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS

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                          VANADIUM INTERNATIONAL, INC.

                         (FORMERLY U.S. VANADIUM CORP.)
                          (A DEVELOPMENT STAGE COMPANY)

                             STATEMENT OF OPERATIONS

FOR THE THREE MONTHS PERIODS ENDED MARCH 31, 2001 AND MARCH 31, 2000 AND FOR THE
PERIOD AUGUST 24, 1998 (INCEPTION) THROUGH MARCH 31, 2001

                                    UNAUDITED

                                                                  AUGUST 24 1998
                              THREE MONTHS      THREE MONTHS        (DATE OF
                              ENDED Mar 31      ENDED Mar 31       INCEPTION TO
                                 2001               2000           Mar 31, 2000)

INCOME                           1,827                 -                   -
COST OF SALES                     -                    -                   -
                             ---------            ---------           ---------

GROSS PROFIT                     1,827                 -                   -

OPERATING EXPENSES           $  17,506            $  11,813           $ 390,097
EXPLORATION & DEV                 -                    -                 27,525
                             ---------            ---------           ---------

NET (LOSS)                   $ (15,679)           $ (11,813)          $(417,622)

BASIC AND DILUTED
   LOSS PER SHARE            $  (0.001)           $  (0.001)          $   (0.02)

     THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS

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                          VANADIUM INTERNATIONAL, INC.

                         (FORMERLY U.S. VANADIUM CORP.)
                          (A DEVELOPMENT STAGE COMPANY)

                           STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS PERIODS ENDED MARCH 31, 2000 AND MARCH 31, 1999 AND FOR THE
PERIOD AUGUST 24, 1998 (INCEPTION) THROUGH MARCH 31, 2000

                                    UNAUDITED

                                                                  AUGUST 24 1998
                              THREE MONTHS      THREE MONTHS        (DATE OF
                              ENDED Mar 31      ENDED Mar 31       INCEPTION TO
                                 2001               2000           Mar 31, 2000)

CASH FLOWS FROM OPERATING
  ACTIVITIES

NET (LOSS)                   $ (15,679)           $ (11,813)          $(414,179)
  ADD:  ITEMS NOT
  AFFECTING CASH

SHARES ISSUED FOR
  EXPLOR. & DEV.             $    -                    -                 10,000

  NON-CASH
  COMPENSATION
  CHARGE                     $    -                    -                 45,127
                             ---------            ---------           ---------

                             $ (15,679)           $ (11,813)          $(359,052)

CHANGES IN NON-CASH
ITEMS
  DUE TO RELATED
    PARTIES                  $     187              (20,885)              2,277
  ACCOUNTS PAYABLE           $  (6,314)             (16,873)             18,292
  ADVANCES RECEIVABLE          (45,000)                -                (55,000)
                             ---------            ---------           ---------

NET CASH (USED) BY
  OPERATING ACTIVITIES       $ (66,806)           $ (49,571)          $(393,483)
                             ---------            ---------           ---------

CASH FLOW FROM
INVESTING ACTIVITIES

ACQUISITION OF
  MINERAL PROPERTY           $    -               $    -              $ (50,000)
                             ---------            ---------           ---------

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NET CASH (USED) BY
  INVESTMENT ACTIVITIES      $    -               $    -              $ (50,000)
                             ---------            ---------           ---------

CASH FLOWS FROM
FINANCING ACTIVITIES

PROCEEDS FROM
COMMON SHARES                $    -               $  50,000           $ 469,500
                             ---------            ---------           ---------

NET CASH PROVIDED BY
  FINANCING ACTIVITIES       $    -               $  50,000           $ 469,500
                             ---------            ---------           ---------

NET INCREASE (DECREASE)
IN CASH                      $ (66,806)           $     429           $  26,017

CASH AT BEGINNING
  OF PERIOD                  $  92,823            $      90                -
                             ---------            ---------           ---------

CASH AT END
  OF PERIOD                  $  26,017            $     519           $  26,017
                             ---------            ---------           ---------


  THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS

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                           VANADIUM INTERNATIONAL, INC.
                         (FORMERLY U.S. VANADIUM CORP.)
                          (A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS FOR THE THREE MONTHS PERIODS ENDED MARCH 31,
2001 AND MARCH 31, 2000 AND FOR THE PERIOD AUGUST 24, 1998 (INCEPTION) THROUGH
MARCH 31, 2001.


1.  BASIS OF PRESENTATION

    In the opinion of management, the unaudited financial statements reflect all
    normally recurring adjustments necessary to fairly present the Company's
    financial position and results of operations for the periods indicated.  The
    accompanying interim financial statements should be read in conjunction with
    the financial statements and related notes included in the Company's 10-KSB
    for the period ended December 31, 2000, which has been filed with the
    Securities and Exchange Commission.  Certain information and footnote
    disclosures normally included in the Company's annual financial statements
    have been omitted from the quarterly financial statements based upon
    Securities and Exchange Commissions rules and regulations.  Net loss per
    common and common equivalent share was computed based on the net loss
    divided by the weighted average number of common and common equivalent
    shares outstanding, unless antidilutive, during the year presented.

2.  FINANCING

                                         Common                      Additional
                                         Shares                       Paid-in
                                            #         Par Value       Capital
                                         -------      ---------       -------

        Balance, December 31, 2000     21,156,000     $   26,160     $  548,467
                                      -----------     ----------     ----------
        Balance, March 31, 2001        21,156,000     $   26,160     $  548,467
                                      ===========     ==========     ==========

    The capital raised was used to fund operations. The Company anticipates
    needing additional capital to fund operations during the upcoming year.  The
    Company intends to raise additional funds through private financings, or
    joint ventures to permit further property exploration and development of
    various properties, and to move one of its properties into the development
    and production stages within the next two years.

3.  RELATED PARTY TRANSACTIONS

    The Company was charged the following management fees and exploration and
    development expenses by two director of the company since inception:

               Management Fees                          $  68,000
               Exploration and development expenses        27,515
                                                        ---------
                                                        $  95,515

    Due to related parties as at March 31, 2001 includes $2,277 for unpaid
    exploration and development costs.  This amount is due to one director of
    the company.

3.  DESCRIPTION OF SECURITIES

    The authorized capital of the Company consists of 80,000,000 shares of
    Common Stock, par value $.01, of which 21,156,000 are outstanding.  The
    material terms of the securities are as follows:

    All of the authorized common shares of the Company are of the same class
    and, once issued, rank equally as to dividends, voting powers and
    participation in assets.  Holders of common shares are entitled to one vote
    for each share held of record on all matters to be acted upon by the
    shareholders.  Holders of common shares are entitled to receive such

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    dividends as may be declared from time to time by the Board of Directors, in
    its discretion, out of funds legally available therefrom.  No shares have
    been issued subject to call or assessment.  There are no preemptive or
    conversion rights and no provisions for redemption or purchase for
    cancellation, surrender, or sinking or purchase funds, nor any cumulative
    voting rights.  The Directors of the Company may from time to time declare
    and authorize payment of dividends, as they deem advisable.  Subject to
    the rights of members, all dividends on shares shall be declared and paid
    according to the number of shares held.  No dividends have been declared
    since incorporation.  The outstanding shares are fully paid and non-
    assessable.

    A class of preferred stock has been authorized with a par value of $0.01.
    No shares of preferred stock have been authorized for issuance by the Board
    of Directors as of the date of this statement.  The rights, privileges and
    preferences of any series of preferred stock shall be determined by the
    Board of Directors at the time of issuance.

    There is no provision in the Company's Articles of Incorporation, as
    amended, or Bylaws that would delay, defer, or prevent a change in control
    of the Company.

Item 2.  Management's Plan of Operations

     The Company is in its initial stages of exploration with no revenues or
income and is subject to all the risks inherent in the creation of a new
business.  The Company has not yet had revenues from operations. Accordingly,
the following information centers upon the Company's plan of operation.

     The Company owns the mineral rights and surface rights to three properties
on which it believes are located commercially mineable vanadium deposits.  The
three properties are referred to as the Gibellini, Bisoni, and Bisoni-McKay
properties.  The Company believes, based on a Pre-Feasibility Report and Pro
Forma Cash Flow Study for the Gibellini, Bisoni, Bisoni-McKay Vanadium Deposits
in Eureka and Nye Counties, Nevada for the Company by Jules Pierre LaPrairie,
P.E., that the three properties contain approximately 19 to 21 million tons of
0.42% vanadium pentoxide hosted within Devonian black shale facies.

     To date, $27,525 has been spent by the company on exploration and
development expenses, including title research, claim staking and filing fees
with the State of Nevada and Counties, annual rental payments to the Bureau of
Land Management ($100 per claim), travel expenses for site visits to the
property, library research and acquisition of reports, data and investigations
from previous owners of the project.

     Over the course of the past year, the company has explored possible high-
tech ventures with several groups in the alternative battery and wireless
technology industries, however no agreements were formalized.  The company
continues to explore its opportunities in these industries, however, in addition
to continuing to develop its vanadium properties.

     During the past quarter, the company has advanced International
Communications and Equipment (ICE) $40,000 towards the development of a joint
venture in the wireless technology industry.  ICE is developing wireless
communications gateways in the Middle East and eastern Europe.

Liquidity

     To date the Company's activities have been financed primarily through the
sale of equity securities.  No assurance can be given that the proceeds of the
private offering of the Company's securities or any other source of funding
described above will provide sufficient funds to undertake all of the Company's
planned project expansion for the next twelve months.  It is anticipated that
significant additional funds will be required to complete the development of any
commercially viable project.  There can be no assurance that the Company will be
able to obtain such additional financing, and whether the terms of such
financing would be favorable to the Company.  Failure to obtain such financing
could be detrimental to the success of the project.  No contracts or commitments
have been entered into at this time.

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PART II - OTHER INFORMATION

     Item 1.  Legal Proceedings.

              During the quarter the company incurred no legal proceedings.

     Item 2.  Changes in Securities and Use of Proceeds.

              During the first quarter of 2001, the Company did not issue any
              securities.

     Item 3.  Defaults Upon Senior Securities.

              None; not applicable.

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

              None; not applicable.

     Item 5.  Other Information.

              None; not applicable.

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

              (a)  Exhibits.
                       None.

              (b) Reports on Form 8-K.
                       None

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 thereunto duly authorized.

                                          VANADIUM INTERNATIONAL INC


Date:     5/14/01                         By: /s/ Dennis LaPrairie
                                          President and Director



Date:     5/14/01                         By: /s/ Moishe Zefrani
                                          Secretary and Director

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