UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

         [X]      QUARTERLY  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE
                  SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended March 31, 2001

                                      -OR-

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

 For the transition period from ____________________ to________________________

                           Commission File No. 0-30786

                               LSI COMMUNICATIONS, INC.
                (Exact name of registrant as specified in its charter)


              Nevada                                      87-0627349
              ------                                      ----------
  (State or other jurisdiction                (IRS Employer Identification No.)
of incorporation or organization)

                          112 West Business Park Drive
                               Draper, Utah 84020
                                 (801) 572-2555
                       ----------------------------------
       (Address, including zip code, and telephone number, including area
               code, of registrant's principal executive offices)

Check  whether  the issuer  (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 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 [ ]


At March 31, 2001, there were 12,756,541 shares of common stock, par value $.001
per share, of the registrant outstanding.

Transitional small business disclosure format: Yes  [ ] No [X]

<PAGE>

                            LSI COMMUNICATIONS, INC.

                                TABLE OF CONTENTS

PART I.   FINANCIAL INFORMATION

     ITEM 1.   FINANCIAL STATEMENTS

               Consolidated Balance Sheets:
                    March 31, 2001 and December 31, 2000 ................3

               Consolidated Statements of Operations:
                   Three Months Periods Ended
                   March 31, 2001 and March 31, 2000 ....................5

               Consolidated Statements of Cash Flows
                  Three Months Periods Ended
                  March 31, 2001 and March 31, 2000 .....................7

            Note to Consolidated Financial Statements....................9

     ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS ...................10

PART II.  OTHER INFORMATION

     ITEM 1 - Legal Proceedings ........................................14

     ITEM 2 - Changes in Securities ....................................14

     ITEM 3 - Defaults upon Senior Securities ..........................14

     ITEM 4 - Submission of Matter to Vote of Security Holders .........14

     ITEM 5 - Other Information.........................................14

     ITEM 6 - Exhibits and Reports on Form 8-K Page.....................14

SIGNATURES .............................................................15

                                       2
<PAGE>
<TABLE>
<CAPTION>
                            LSI Communications, Inc.
                           Consolidated Balance Sheet
       For the Three Month Periods Ended March 31, 2001 and March 31, 2000
                                    Unaudited

                                ASSETS

                                                                             March 31                December 31,
                                                                               2001                      2000
                                                                        -------------------       -------------------
CURRENT ASSETS
<S>                                                                     <C>                         <C>
     Cash & Cash Equivalents                                                     $ (16,323)                  $ 5,270
     Inventory                                                                      10,906                    11,445
     Accounts Receivable (Net of allowance of $7,000)                               65,183                   113,884
     Deposits                                                                            -                    26,500
                                                                        -------------------       -------------------
          Total Current Assets                                                      59,766                   157,099
                                                                        -------------------       -------------------

PROPERTY & EQUIPMENT
    (Net of Accumulated Depreciation)                                               54,008                    56,736
                                                                        -------------------       -------------------

OTHER ASSETS
     Deposits & Prepaids                                                             6,076                     6,076
                                                                        -------------------       -------------------
          Total Other Assets                                                         6,076                     6,076
                                                                        -------------------       -------------------

   TOTAL ASSETS                                                                  $ 119,850                 $ 219,911
                                                                        ===================       ===================
</TABLE>

                                       3
<PAGE>
<TABLE>
<CAPTION>
                            LSI Communications, Inc.
                      Consolidated Statements of Operations
       For the Three Month Periods Ended March 31, 2001 and March 31, 2000
                                    Unaudited

                                                                                    For the Period Ended
                                                                            March 31,                 March 31,
                                                                               2001                      2000
                                                                        -------------------       -------------------
REVENUES
<S>                                                                      <C>                       <C>
    Software Sales                                                                $ 25,258                  $ 13,653
    Training Sales                                                                 131,544                   272,424
                                                                        -------------------       -------------------
TOTAL REVENUES                                                                     156,802                   286,077
                                                                        -------------------       -------------------

COST OF SALES
    Software                                                                           539                       176
    Training                                                                        87,105                    63,374
                                                                        -------------------       -------------------
TOTAL COST OF GOODS SOLD                                                            87,644                    63,550
                                                                        -------------------       -------------------
GROSS PROFIT                                                                        69,158                   222,527
                                                                        -------------------       -------------------

SELLING EXPENSES                                                                    53,633                   109,161

PAYROLL                                                                             62,464                    61,276

RESEARCH & DEVELOPMENT                                                                   -                     1,705

GENERAL & ADMINISTRATIVE EXPENSES                                                   87,360                   101,526
                                                                        -------------------       -------------------
TOTAL OPERATING EXPENSES                                                           187,457                   273,668
                                                                        -------------------       -------------------

OPERATING INCOME (LOSS)                                                           (118,299)                  (51,141)
                                                                        -------------------       -------------------

OTHER INCOME AND (EXPENSES)
   Forgiveness of Debt                                                                   -                    13,368
   Miscellaneous income (expense)                                                     (627)                   (3,447)
   Interest expense                                                                 (3,079)                   (2,544)
                                                                        -------------------       -------------------

     Total Other Income and (Expenses)                                              (3,706)                    7,377
                                                                        -------------------       -------------------

NET INCOME (LOSS) BEFORE INCOME TAXES                                             (122,005)                  (43,764)
                                                                        -------------------       -------------------
PROVISION FOR INCOME TAXES                                                               -                         -
                                                                        -------------------       -------------------
NET INCOME (LOSS)                                                               $ (122,005)                $ (43,764)
                                                                        ===================       ===================
NET INCOME (LOSS) PER SHARE                                                       $ (0.011)                 $ (0.004)
                                                                        ===================       ===================
WEIGHTED AVERAGE OUTSTANDING SHARES                                             12,756,541                10,563,984
                                                                        ===================       ===================
</TABLE>

                                       4
<PAGE>
<TABLE>
<CAPTION>
                            LSI Communications, Inc.
                           Consolidated Balance Sheet
       For the Three Month Periods Ended March 31, 2001 and March 31, 2000
                                    Unaudited

                 LIABILITIES AND STOCKHOLDERS' EQUITY

                                                                             March 31                December 31,
                                                                               2001                      2000
                                                                        -------------------       -------------------
CURRENT LIABILITIES
<S>                                                                       <C>                       <C>
     Accounts payable                                                             $ 53,374                  $ 36,290
     Accrued expenses                                                               48,808                    41,269
     Current portion of long-term liabilites                                       100,490                   102,686
     Deferred Compensation                                                          91,000                    91,000
                                                                        -------------------       -------------------
          Total Current Liabilities                                                293,672                   271,245
                                                                        -------------------       -------------------

LONG TERM LIABILITIES
    Notes payable                                                                        -                         -
    Notes payable-related party                                                    100,490                   103,874
    Capital lease obligations                                                       22,130                    23,472
    Less current portion                                                          (100,490)                 (102,686)
                                                                        -------------------       -------------------
          Total long term Liabilities                                               22,130                    24,660
                                                                        -------------------       -------------------
           TOTAL LIABILITIES                                                       315,802                   295,905
                                                                        -------------------       -------------------

Minority Interest                                                                        -                         -
                                                                        -------------------       -------------------

STOCKHOLDERS' EQUITY
    Common stock, authorized 50,000,000 shares of $.001
     par value, issued and outstanding 13,461,086 and 11,415,632
     shares, respectively                                                           13,461                    11,416
    Additional Paid-in capital                                                     731,598                   731,598
    Retained Earnings                                                             (941,011)                 (819,008)
                                                                        -------------------       -------------------
          Total Stockholders' Equity                                              (195,952)                  (75,994)
                                                                        -------------------       -------------------
   TOTAL LIABILITIES & STOCKHOLDERS EQUITY                                       $ 119,850                 $ 219,911
                                                                        ===================       ===================
</TABLE>

                                       5
<PAGE>
<TABLE>
<CAPTION>
                            LSI Communications, Inc.
                      Consolidated Statements of Cash Flows
       For the Three Month Periods Ended March 31, 2001 and March 31, 2000
                                    Unaudited

                                                                                    For the Period Ended
                                                                            March 31,                 March 31,
                                                                               2001                      2000
                                                                        -------------------       -------------------
Cash Flows From Operating Activities
<S>                                                                         <C>                        <C>
Net income (loss)                                                                ($122,005)                 ($43,764)
Non-cash items:
   Depreciation                                                                      5,578                     3,958
   Bad Debt                                                                              -                     7,000
   Issuance of stock                                                                 2,045                     2,500
   Recognition of Deferred Revenue                                                       -                      (490)
(Increase)/decrease in currents assets:
   Accounts receivable                                                              48,701                    30,901
   Inventory                                                                           539                       176
   Deposit (current)                                                                26,500                         -
Increase/(decrease) in currents liabilities:
   Accounts payable                                                                  7,540                      (475)
   Accrued expense                                                                  23,540                   (15,848)
                                                                        -------------------       -------------------
      Net Cash Provided (Used) by Operating Activities                             (14,018)                  (16,042)
                                                                        -------------------       -------------------

Cash Flows From Investing Activities
   Cash received in sale of contract                                                     -                   226,800
   Cash paid for property, equipment and software technology                        (2,850)                   (6,402)
                                                                       -------------------       -------------------
      Net Cash Provided (Used) by Investing Activities                              (2,850)                  220,398
                                                                        -------------------       -------------------

Cash Flows From Financing Activities
   Factoring Fees                                                                        -                   (13,000)
   Increase in long-term debt                                                            -                         -
   Principal payments on long-term debt                                             (4,725)                  (90,900)
                                                                        -------------------       -------------------
      Net Cash Provided (Used) by Financing Activities                              (4,725)                 (103,900)
                                                                        -------------------       -------------------
      Increase/(decrease) in Cash                                                  (21,593)                  100,456

Cash and Cash Equivalents at Beginning of Period                                     5,270                    18,393

Cash and Cash Equivalents at End of Period                                        ($16,323)                 $118,849

Supplemental Cash Flow Information:
   Cash paid for interest                                                           $3,079                    $2,544
   Cash paid for income taxes                                                            -                         -

</TABLE>

                                       6
<PAGE>

                            LSI COMMUNICATIONS, INC.
                          NOTE TO FINANCIAL STATEMENTS

                        MARCH 31, 2001 AND MARCH 31, 2000
                                   (UNAUDITED)

1        Basis of presentation:

         The accompanying  unaudited financial  statements have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information and with the instructions for Form 10-QSB and Item 310 of Regulation
S-B.  Accordingly,  they do not include  all of the  information  and  footnotes
required by generally  accepted  accounting  principles  for complete  financial
statements. In the opinion of management,  all adjustments (consisting of normal
recurring  accruals)  considered  necessary  for a fair  presentation  have been
included.  Operating  results for the three  months ended March 31, 2001 are not
necessarily  indicative  of the results that may be expected for the year ending
December  31,  2001.  The  unaudited  financial  statements  should  be  read in
conjunction  with the financial  statements for the year ended December 31, 2000
and footnotes  thereto  included in the  Company's  annual report on Form 10KSB,
which are incorporated herein by reference.

                                       7
<PAGE>

Item 2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  AND  RESULTS OF
         OPERATIONS

         This discussion contains forward-looking statements made by the Company
pursuant to the  safe-harbor  provisions  of the Private  Securities  Litigation
Reform Act of 1995.  Forward-looking  statements  reflect our current views with
respect to such future events.  Actual results may vary materially and adversely
from those anticipated, believed, estimated or otherwise indicated. Factors that
could cause actual  results to differ  adversely  include,  without  limitation,
inability to maintain sources of coaching customers, and lack of consumer demand
for new products.  We do not undertake to update any  forward-looking  statement
that may be made from time to time by or on our behalf.

     (a) Introduction

         We are a technology  development,  sales and training  company based in
Draper, Utah. We operate two distinct, but complementary  subsidiaries,  Warever
Corporation and Coaching Institute, Inc.

         Coaching  Institute,  Inc. offers fully integrated  "coaching" programs
designed specifically for sales trainers, seminar leaders, motivational speakers
and network  marketers who are interested in extending their programs to seminar
attendees through one-on-one  training.  By implementing an after-market program
such as  one-on-one  coaching,  companies are able to assist  clients'  personal
development, create additional profits, and increase client loyalty.

         Warever  Corporation  develops,  programs,  sells, and markets computer
software  packages.  Sales of its primary  product,  Action  Plus,  a management
assistance   software  are  being  phased  out.  On  August  31,  2000,  Warever
Corporation  released   Powerhouse,   a  sales  force  automation  and  personal
productivity  software program designed for the real estate industry.  We expect
sales of  Powerhouse  to constitute  nearly all of Warever's  software  sales in
upcoming quarters.

         We have  incurred  and expect to continue to incur  losses and negative
cash flows both on an annual basis and for the interim periods. We are currently
redirecting  our  marketing  strategy  for our  coaching  services  by  sourcing
coaching clients from internal  sources rather than from third parties.  We have
extremely  limited  operating  capital and our  prospects  are subject to risks,
costs and  difficulties in  implementing  our modified  course.  There can be no
assurances that we can successfully address these risks and difficulties.

         Our operating  results may fluctuate  significantly  in the future as a
result of  several  factors,  many of which are not within  our  control.  These
factors  include,  but are not limited to,  demand for, and  acceptance  of, our
products and services, seasonal trends in the demand for coaching services, need

                                       8
<PAGE>

for capital  expenditures  and costs relating to our expansion,  introduction of
new services or products,  competitive forces, price changes in the coaching and
the real estate  software  industries,  and general and  industry-wide  economic
conditions.  As a result of changes to the coaching and the real estate software
industries,  we may make certain  service changes or  acquisitions,  including a
possible acquisition of LSI Communications,  Inc., Warever or Coaching Institute
by another entity,  that could materially affect our business,  operations,  and
financial condition.  We also expect certain seasonal effects, as they relate to
our coaching revenues,  due to lower demand during the Summer and other vacation
periods and holidays.  Due to all of the aforementioned  factors, in some future
interim periods,  our operating results may be adversely affected and fall below
the  expectations of our management and investors.  We may also may never emerge
from our current  development  stage.  In such case,  the  trading  price of our
common stock would likely be materially and adversely affected.

     (b) Results of Operations

          (i) Three Months Ended March 31, 2001 and March 31, 2000

Sales Revenues

         Sale revenues for the three months ended March 31, 2001 were  $156,802,
a decrease of $129,275,  or 45.1% from $286,077 for the three months ended March
31, 2000. The decrease in revenues is due to decreases in training sales,  which
accounted for 98.6% of our gross sales  revenues in the Year ended  December 31,
2000.  Coaching  Institute's  revenues decreased by $140,880 or 51.7% to 131,544
from $272,424 during the three month period ended March 31, 2000. Through mid to
late 2000 we focused on creating and maintaining  relationships with third party
companies and individuals,  such as Homes.com and SDI Wealth Institute  ("SDI"),
to market and sell our coaching and training  packages,  which were fulfilled by
our wholly owned subsidiary, Coaching Institute. In 2000, we became increasingly
concerned that  commissions  paid to third parties consumed much of our training
related  profit  margins and that the  stability of our coaching  revenues  were
precariously  reliant on a small number of third parties that supply clients. In
an effort to contend with our  vulnerability,  we began  planning and developing
methods to create leads independent of third parties by sourcing clients through
seminars and events  sponsored  and  promoted by Coaching  Institute in the last
half of 2000. Akin to our concerns,  Homes.com,  which accounted for over 30% of
Coaching  Institute  revenues during 2000,  ceased to provide  coaching  clients
early in the three month period ended March 31, 2001, and subsequently  declared
bankruptcy in March 2001, leaving Coaching Institute holding a balance of unpaid
receivables in excess of $25,000. In addition, SDI, another significant customer
of Coaching Institute, has dramatically decreased the number of coaching clients
referred to Coaching  Institute  during the three month  period  ended March 31,
2001.

         Despite our change of focus toward creating  coaching leads internally,
we have not wholly  abandoned  using third parties as coaching  client  referral
sources.  In February 2001, Success Events  International  (formerly "Peter Lowe

                                       9
<PAGE>

International) began selling a program entitled "Peter Lowe" during seminars and
has agreed to have Coaching Institute fulfill the coaching sessions.  Similar to
past   relationships   with  third  party  referral   sources,   Success  Events
International  will receive a referral fee for each coaching client it refers to
Coaching Institute,  but is not contractually bound to supply Coaching Institute
with a minimum  number of referrals.  The result is that our  relationship  with
Success Events  International may not result in any significant revenues and any
revenues which do result from our relationship with Success Events International
could end at any time.

          During the three month period ended March 31, 2001, we planned several
seminars that are to take place in upcoming quarters of 2001. We anticipate that
the seminars  may generate  revenues  from both  seminar  registration  fees and
coaching service contracts that will be fulfilled by Coaching Institute.

         Warever, our software sales and development subsidiary, which accounted
for 1.4% of our  revenues in the Year ended  December  31,  2000,  had  revenues
increase by $11,635 or 85% to 25,258  during the three month  period ended March
31,  2001 from  $13,653  during the  comparable  period  ended  March 31,  2000.
Warever's  revenues for the entire Year ended  December  31, 2000 were  $20,269.
Warever's  increased  revenues  resulted  from sales of  PowerHouse,  a software
product designed by Warever and released in August 2000.  PowerHouse is tailored
to the real estate investment industry, and has contact management, calendaring,
property management,  presentations,  and Internet marketing features.  Sales of
PowerHouse  increased  during the three month period ended March 31, 2001 due to
designating an internal sales person to market the product.  We anticipate  that
sales of PowerHouse will remain  consistent with those during three month period
ended March 31, 2001 during the next twelve months.

         Cost of Sales

         Cost of Sales  increased by $24,094,  or 37.9%,  to $63,550 in the 2001
three month period from $87,644 in the comparable  2000 three month period.  The
increase was attributable to increased software sales and commissions related to
referrals to Coaching  Institute.  Salaries  paid to the coaches who perform the
coaching are also  included in Costs of Sales.  As sales of Powerhouse to remain
steady and costs of sales  related to software to remain under 10%, our costs of
sales will continue to consist  primarily of commission and salaries  related to
coaching services. We anticipate that coaching related commissions will decrease
as  internally  sourced  coaching  clients  from our  direct  marketing  efforts
increase.  However,  until we implement an effective method to expand our direct
sales, we must heavily rely on commission based referrals.

         Selling, General and Administrative Expenses

         General and Administrative  expenses decreased by $14,166, or 13.9%, to
$87,360 in the 2001 three  month  period  from  $101,526 in the 2000 three month
period.  Selling expenses decreased by $55,528, or 50.8% to $53,633 in the three
month period  ended March 31, 2001 from  $109,161 in the  comparable  2000 three

                                       10
<PAGE>

month period.  A primary reason for the 2001 three month period  decrease is the
decreased Coaching  Institute sales and the corresponding  reduction in salaries
and  commissions  Despite  the overall  decrease,  selling  expenses  related to
software  increased  due to  increased  selling  efforts  during the three month
period.  We expect our selling  expenses  to  increase  as we increase  coaching
services and continue to market the PowerHouse software.

         Payroll related  expenses  remained  steady,  increasing by $1,188,  or
1.9%,  to $62,464 in the three month period ended March 31, 2001 from $61,276 in
the comparable  2000 three month period.  The Payroll line item of our Statement
of Operations includes all salaries,  primarily  administrative,  not related to
selling, marketing or actual coaching.

         Interest Expense

         Interest expense increased by $535, or 21%, to $3,079 in the 2001 three
month  period from  $2.544 in the 2000 three  month  period.  The  increase  was
primarily  due to interest  paid on loans from 2000.  The loans were required to
continue our operations.

         Net Loss

         Our net loss for the 2001 three month period  increased by $78,241,  or
178.7%,  to a net  loss  of  ($122,005)  from a net  loss  of  ($43,764)  in the
comparable  2000 period.  This increased net loss is due primarily to the sudden
loss of coaching and training referrals from Homes.com and SDI in the early part
of the 2001 three month period. In addition, we elected to maintain our overhead
expenses  despite our dramatically  lower sales because we anticipate  levels of
coaching contracts to return to previous levels. Due to the lack of commissions,
we intend  to focus on  sourcing  coaching  leads and  clients  from  internally
sponsored seminars to reduce our net loss in coming quarters.

     (c) Liquidity and Capital Resources

         Our  liquidity  and  capital  resources  as  of  March  31,  2001  were
($16,323),  and as of March 31,  2000 were  $118,849,  a decrease of $135,172 or
2,564.9%.  The cause of this decrease was due to funds being used for operations
during the latter half of the Year ended  December  31, 2000 and the three month
period ended March 31, 2001.

         At March 31, 2001, our current liabilities  exceeded our current assets
by approximately $233,906, with a ratio of current liabilities to current assets
of approximately 4.9 to 1. Inventory levels decreased by $539 or 4.7% to $10,906
on March 31, 2001 compared to $11,445 on December 31, 2000.  The primary  reason
for this decrease was the sale of units of PowerHouse.  Accounts receivable were
lower due to collection from SDI.

         Due to the dramatic decrease in referrals from SDI and Homes.com, we do
not expect to satisfy our cash requirements  during the next 12 months from cash
on hand and revenues.  We are considering raising money through a stock offering
or loans fund our operations. Our inability to raise cash through debt or equity
could  adversely  affect our ability to continue as a going concern.  We have no
commitments for significant capital expenditures over the next 12 months.

                                       11
<PAGE>

                             II. OTHER INFORMATION

ITEM  1.  LEGAL PROCEEDINGS

         not applicable

ITEM 2. CHANGES IN SECURITIES

         In  February  2001,   holders  of  the  15%  of  Coaching   Institute's
outstanding common stock not owned by LSI  Communications,  Inc. exchanged their
remaining  ownership for 2,045,455 shares of LSI  Communications,  Inc.'s common
stock.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

         not applicable

ITEM 4. SUBMISSION OF MATTER TO A VOTE OF SECURITY HOLDERS

         not applicable

ITEM  5.  OTHER INFORMATION

         not applicable

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

          (a) Exhibits:

              Exhibit
                 No.         Description

         not applicable

         (b)  8-K Reports

         On  February  26,  2001 a Form 8-K was filed  with the  Securities  and
Exchange  Commission  reporting in Item 5, "Other Events",  that we had acquired
the final 15% of Coaching Institute.

         On  February  26,  2001 a Form 8-K was filed  with the  Securities  and
Exchange  Commission  reporting in Item 5, "Other Events",  that our orders from
Automation Quest, a source of 33.1% of our revenues in 2000 had dropped to $0.00
in February 2001.

                                       12
<PAGE>

                                   SIGNATURES

     Pursuant  to the  requirements  of  Section  13 or 15(d) 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.

                                                   LSI COMMUNICATIONS, INC.

                                                   By:  /s/ Craig Hendricks
                                                       ------------------------
                                                       Craig Hendricks
                                                       Chief Executive
                                                       Officer, President

                                                       Date 5/14/01

                                       13