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, 2002.

   [ ] 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)





                Nevada                                 87-0067813
               --------                               ------------
   (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 July 29, 2002 was 7,758,050.




<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 Nevada corporation,  and its subsidiaries and predecessors unless
otherwise indicated. Unaudited, condensed interim financial statements including
a balance  sheet for the  Company as of the  quarter  ended June 30,  2002,  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>





                   Golden Opportunity Development Corporation
                        Unaudited Condensed Balance Sheet

<TABLE>
<S>                                                                            <C>

                                                                                  June 30, 2002
                                                                                   (Unaudited)
                                                                                --------------

ASSETS
      Current Assets:                                                           $
            Cash and cash equivalents                                                      166
            Other                                                                            -
                                                                                --------------
                 Total current assets                                                      166

TOTAL ASSETS                                                                    $          166
                                                                                --------------

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



LIABILITIES AND STOCK HOLDERS' EQUITY (DEFICIT)
      Current Liabilities:
            Accounts payable                                                    $        1,984
            Accounts payable-related party                                              84,088
                                                                                --------------
                 Total current liabilities                                              86,072


      Stockholders' deficit
            Common stock $.001 par value shares, 100,000,000 shares
            authorized; 7,969,280 shares issued and outstanding on
            June 30, 2002                                                                7,969
            Additional paid in capital                                               1,307,971
            Accumulated Deficit                                                    (1,401,846)
                 Total stockholders' deficit                                          (85,906)
                                                                                --------------

TOTAL LIABILITIES AND DEFICIT                                                   $          166
                                                                                --------------

                                                                                --------------
</TABLE>






                        See notes to financial statements






                                       F-1

<PAGE>



                   Golden Opportunity Development Corporation
                  Unaudited Condensed Statements of Operations

<TABLE>
<CAPTION>

                                                       Three Months Ended               Six Months Ended
                                                             June 30,                      June 30,
                                                     2002             2001           2002          2001
                                                     ----             ----           ----           ----
<S>                                             <C>              <C>             <C>            <C>

REVENUE
     Hotel Revenue                               $         -      $   46,044          1,097        110,661
     Lease Revenue                                         -             690              -            814
                                                 -----------      ----------      ---------      ---------
          Total Revenue                                    -          46,734          1,097        111,475

EXPENSES
     Hotel Direct Costs                                  404          67,647          3,469        161,974
     Selling, general & administrative                17,946           4,000         30,632         14,820
     Depreciation                                          -          12,167              -         24,645
     Expenses related to sale of motel                     -               -        100,702              -
     Interest Expense                                      -          27,032          9,337         54,173
                                                 -----------      ----------      ---------      ---------
           Total Operating Expenses                   18,350         110,846        144,140        225,612
                                                 -----------      ----------      ---------      ---------


NET LOSS                                         $  (18,350)      $ (64,112)      (143,043)      (144,137)

BASIC AND DILUTED LOSS

PER COMMON SHARE                                 $         -      $   (0.01)         (0.02)         (0.02)

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

BASIC AND DILUTED
WEIGHTED AVERAGE
SHARES OUTSTANDING                                 7,969,000       7,758,000      7,969,000      7,758,000

</TABLE>








                        See notes to financial statements




                                       F-2

<PAGE>



                   Golden Opportunity Development Corporation
                  Unaudited Condensed Statements of Cash Flows


<TABLE>
<S>                                                              <C>                      <C>

                                                                       Six Months              Six Months
                                                                        Ended                    Ended
                                                                    June 30, 2002            June 30, 2001
                                                                  ------------------       -----------------
CASH FLOWS FROM OPERATION ACTIVITIES
     Net loss                                                     $        (143,043)       $       (144,137)
     Adjustments to reconcile net loss to net cash provided
     (used) by operating activities:
           Expenses related to sale of motel                                 100,702                       -
          Depreciation and amortization                                            -                  24,645
     Changes in operating assets and liabilities (net of
     effect from acquisitions)
          Bank overdrafts                                                          -                   2,646
          Accounts Payable                                                  (34,513)                 (6,503)
          Accrued Expenses                                                     1,984                   8,344
                                                                  ------------------       -----------------

NET CASH USED BY OPERATING ACTIVITIES                                       (74,870)               (115,005)
                                                                  ------------------       -----------------

CASH FLOWS PROVIDED BY INVESTING ACTIVITIES
     Proceeds from sale of property, plant, and equipment                    391,539                       -
                                                                  ------------------       -----------------
                                                                                   -                       -
CASH FLOWS FROM FINANCING ACTIVITIES
     Payment of related party payables                                     (318,088)               (122,100)
     Principle payment on long term notes                                          -                (14,176)
                                                                  ------------------       -----------------
NET CASH USED BY FINANCING ACTIVITIES                                      (318,088)               (136,276)
                                                                  ------------------       -----------------

NET INCREASE (DECREASE) IN CASH EQUIVALENTS                                  (1,419)                 (7,081)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                               1,585                   7,096
                                                                  ------------------       -----------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                        $              166       $              15


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
     Cash paid during the period for interest                     $                -       $          54,173
                                                                  ------------------       -----------------

NON-CASH TRANSACTIONS
During the six months ended June 30, 2002, the Company retired debt in the amount of $1,780,660 from the proceeds of
the sale of the motel property.


</TABLE>

                        See notes to financial statements

                                       F-3

<PAGE>



                   Golden Opportunity Development Corporation
                NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
                                  June 30, 2002


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 accounting
principles  generally  accepted in the United States 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, 2001.  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, 2002.

2.  Related Party Transaction

During the quarter ended June 30, 2002, the Company paid back amounts previously
advanced by its parent to cover operating deficiencies in the amount of $62,852.
The total amount payable owed to related parties at June 30, 2002 was $84,088.

3. Sale of Building

On June  10,  2001,  the  Company  entered  into a sales  agreement  to sell the
building and land to Lafayette  Development  Holding LLC for $2,332,000.  During
2001, the Company  received  $55,000 of earnest money.  At the time of the sales
agreement, the Company anticipated a loss of approximately $117,946 on the sale.
As a result,  the Company booked an impairment loss on the value of the building
for that amount in the third  quarter of 2001.  On January 3, 2002,  the Company
finalized  the sale of the  building  and land for  $2,332,000  and  recorded an
additional $100,702 in closing costs. Net proceeds received after payment of the
mortgage  note balance,  taxes,  and other  related  charges were  approximately
$330,000. This transaction is fully reflected in the above financial statements.

4.  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, 2001.
Therefore, those footnotes are included herein by reference.




                                       F-4

<PAGE>



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

General

The Company has  historically  been  engaged in the  business of  operating  and
acquiring hospitality property.  Prior to January 4, 2002, the Company owned the
General  Lafayette  Inn,  a 134 unit  motel and  restaurant,  and four  adjacent
office/retail buildings, located at 427 Lafayette Street, Baton Rouge, Louisiana
(the  "Motel").  On January 4, 2002,  the Company sold the Motel,  its principal
asset.  The Motel was sold for cash, in the amount of  $2,332,000,  to Lafayette
Development Holdings, LLC. ("Lafayette"), a Louisiana Limited Liability Company.
After  payment  of taxes,  real  estate  commissions,  and the  mortgage  on the
property,  the  Company  realized  net cash of  $337,000.  There is no  material
relationship  between Lafayette and the Company, or any of their affiliates,  or
any of their  officers  or  directors,  or any  associate  of such  officers  or
directors.  This  transaction was brokered by Brooks Hearn, a real estate broker
in Baton Rouge, LA.

Since the  Company  discontinued  operations  on January 4, 2002,  by  divesting
itself of its Motel property,  the Company is attempting to identify and acquire
another  hospitality  property for purchase.  Several  properties in Florida and
California  have  been  reviewed  and due  diligence  is  progressing  on a few,
however, there is currently no agreement to acquire any property.

Results of Operations

Revenues

Revenues for the quarter  ended June 30, 2002  decreased to $ 0 from $46,734 for
the quarter  ended June 30,  2001, a decrease of 100 %. The decrease in revenues
was attributable to no longer operating the motel.

Losses

Net losses  for the  quarter  ended June 30,  2002,  decreased  to $18,350  from
$64,112 for the quarter ended June 30, 2001, an decrease of 71.4%.  The decrease
in losses is attributable to a lack of costs  associated with the formerly owned
motel.

The Company  expects to continue to incur losses at least  through  fiscal 2002,
unless a profitable  acquisition is made prior to that time, and there can be no
assurance  that the  Company  will  achieve or  maintain  profitability  or that
revenue growth can be achieved or sustained in the future.

Expenses

General and  administrative  expenses for quarters  ended June 30, 2002 and June
30, 2001, were $17,946 and $4,000 respectively.

Depreciation and amortization  expenses for the quarters ended June 30, 2002 and
June, 2001 were $0 and $12,167,  respectively. The decrease was due to no longer
having depreciable assets.

For the  quarters  ended June 30, 2002 and June 30,  2001,  the  Motel's  direct
operating  costs were $404 and $67,647  respectively,  a decrease  of 99%.  This
decrease is due to not operating the motel.


                                        2

<PAGE>



Liquidity and Capital Resources

Cash flow used by  operations  were  $74,870  for the six months  ended June 30,
2002, compared to $115,005 for the six months ended June 30, 2001.

Cash flow provided by investing activities was $391,539 for the six months ended
June 30,  2002,  compared  to $0 for the six  months  ended June 30,  2001.  The
Company's  cash flow provided by investing  activities was  attributable  to the
divestiture of the motel.

Cash flow used in  financing  activities  was  $318,088 for the six months ended
June 30, 2002,  compared to cash flow used in financing  activities  of $136,276
for the six  months  ended  June 30,  2001.  The  Company's  cash  flow  used in
financing  activities  was for  retirement  of the  payables  to the  parent for
advances over the years.

The Company has funded its cash needs  through June 30, 2002,  with net proceeds
from the sale of the building.  The Company estimates the remaining cash may not
be  sufficient  to cover  expenses  for the rest of the year,  while it seeks to
locate a replacement  property.  In the event there is a shortfall,  the Company
anticipates that the Company's parent will provide it with sufficient  resources
to complete  its search for a business  venture and continue  meeting  financial
responsibilities in the mean time. There is no guarantee however, that this will
occur.

Capital Expenditures

The Company has a working  capital  deficit at June 30,  2002,  in the amount of
$85,906. However, $84,088 is owed to the Company's parent.

Impact of Inflation

The Company  believes that  inflation has had a negligible  effect on operations
over the past two 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

As the Company has no current  operations  there are no known trends,  events or
uncertainties that apply to the Company at this point in time.

                                     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 7 of this  Form  10-QSB,  and are
     incorporated herein by this reference.

(b)  Reports  on Form 8-K No  filings  on Form 8-K were made  during  the period
     covered by this report.


                                        3

<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,  there unto
duly authorized, this 26th day of July 2002.



Golden Opportunity Development Corporation


By:   /s/ Bobby Welch
   ---------------------------------------------
        Bobby Welch
Its:   President, Chief Executive Officer and Director






















                                        4

<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).

Material Contracts

Exhibit
No.       Page No.         Description

10(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).

10(ii)       *             Listing Contract between Brooks Hearn, Broker and
                           Golden Opportunity Development Corporation regarding
                           the General Lafayette Hotel in Baton Rouge,
                           Louisiana. ( Incorporated by reference filed with the
                           Company's Form 10KSB filed with the SEC on May 10,
                           2001)

10(iii)      *             Sales Agreement between LaFayette Development
                           Holdings LLC and Golden Opportunity Development
                           Corporation for the sale of the General LaFayette
                           Motel in Baton Rouge, Louisiana (Incorporated by
                           reference filed with the Company's 10KSB filed with
                           the SEC on March 29, 2002)

 * Incorporated by reference to previously filed information as noted















                                        5

<PAGE>