U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB


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

(Mark One)

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

          For the Quarterly Period Ended September 30, 2000.

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

          For the transition period from______to______.

                         Commission File Number 0-85601

                      SYMPHONY TELECOM INTERNATIONAL, INC.
                     --------------------------------------
        (Exact name of small business issuer as specified in its charter)

                      UTAH                                    87-0378892
         -------------------------------                     -----------
         (State or other jurisdiction of                   (I.R.S. Employer
         incorporation or organization)                    Identification No.)

  347 Bay Street, Suite 502, Toronto, Canada                     M5H 2R7
--------------------------------------------                     -------
  (address of principal executive offices)                      (zip code)

Issuer's telephone number:           (416) 366-5221
                                    ---------------

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X No__.

The number of shares of Common Stock  outstanding  as at November 14, 2000 was:
16,260,409.

Transitional Small Business Disclosure Format (check one):  Yes    No  X .
                                                               ---    ---


<PAGE>

<TABLE>

<CAPTION>

                       SYMPHONY TELECOM INTERNATIONAL INC.
                                AND SUBSIDIARIES
                           Consolidated Balance Sheets

                                                                                  (Unaudited)        (Audited)
                                                                                 September 30         June 30
                                                                                     2000              1999
                                                                                     ----              ----
<S>                                                                             <C>              <C>
ASSETS

CURRENT ASSETS
    Cash and cash equivalents                                                   $      481,636   $       275,823
    Accounts receivable, net of allowance for doubtful
        accounts of $56,087 and $56,954                                              1,288,781           261,247
    Finished Goods Inventory                                                           128,053            78,933
    Prepaid expenses                                                                   130,064            15,101
                                                                                --------------    --------------
TOTAL CURRENT ASSETS                                                                 2,028,534           631,104
                                                                                --------------    --------------
PROPERTY AND EQUIPMENT
    Automobiles, computer equipment and office furniture                               436,347           229,161
    Computer software                                                                  101,056           101,310
    Telephone equipment                                                                115,627            69,052
                                                                                --------------    --------------
                                                                                       653,030           399,523
    Less: accumulated depreciation                                                   (214,427)         (195,854)
                                                                                --------------    --------------
TOTAL PROPERTY AND EQUIPMENT                                                           438,603           203,669
                                                                                --------------    --------------
OTHER ASSETS

    Goodwill, net                                                                    4,702,960           738,710
                                                                                --------------    --------------
TOTAL OTHER ASSETS                                                                   4,702,960           738,710
                                                                                --------------    --------------
TOTAL ASSETS                                                                    $    7,170,097   $     1,573,483

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
    Bank loans                                                                  $      230,407   $      -
    Accounts payable                                                                 2,347,837           278,708
    Accrued liabilities                                                                 19,985            91,690
    Notes payable                                                                      782,709           167,789
    Income taxes payable                                                                   200               203
    Current portion of leases payable                                                   36,484          -
                                                                                --------------    --------------
TOTAL CURRENT LIABILITIES                                                            3,417,622           538,390
                                                                                --------------    --------------
OTHER LIABILITIES
    Leases payable                                                                      68,053          -
    Notes payable to related parties                                                    62,142            79,479
                                                                                --------------    --------------
TOTAL OTHER LIABILITIES                                                                130,195            79,479
                                                                                --------------    --------------
TOTAL CURRENT AND OTHER LIABILITIES                                                  3,547,817           617,869

MINORITY INTEREST                                                                    (111,032)           (5,471)
STOCKHOLDERS' EQUITY
    Common stock: $0.001 par value, 50,000,000 shares authorized;
        17,081,230 and 15,918,809 shares  issued and outstanding                        17,081            15,919
    Additional paid-in capital                                                       5,520,447         1,953,190
    Contributed capital                                                                 31,474            31,474
    Accumulated deficit                                                            (1,870,585)       (1,042,134)
    Accumulated other comprehensive income (loss)
        Cumulative translation adjustments                                              34,895             2,636
                                                                                --------------    --------------
TOTAL STOCKHOLDERS' EQUITY                                                           3,733,312           961,085
                                                                                --------------    --------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                      $    7,170,097   $     1,573,483

</TABLE>

The accompanying notes are an integral part of these financial statements 1.

<PAGE>

<TABLE>

<CAPTION>

                       SYMPHONY TELECOM INTERNATIONAL INC.
                                AND SUBSIDIARIES
                    Consolidated Statements of Operations and
                           Other Comprehensive Income

          For the Three-Month Periods Ended September 30, 2000 and 1999
                                   (Unaudited)
                                                                                    September 30 September 30
                                                                                      2000              1999
                                                                                      ----              ----
<S>                                                                              <C>              <C>
REVENUE

    Telephone services                                                           $    1,046,032   $        28,667
    Phone cards                                                                         671,015          -
    Sales of equipment and systems                                                      195,332           136,642
    Internet services                                                                    43,705          -
    Maintenance contracts                                                                11,996             6,657
                                                                                 --------------    --------------
    TOTAL SALES                                                                       1,968,080           171,966
                                                                                 --------------    --------------

COST OF GOODS SOLD
    Cost of telephone services                                                          587,355            16,877
    Cost of phone cards                                                                 631,039          -
    Cost of equipment and systems sold                                                  132,930            77,152
    Cost of internet services                                                            32,147          -
    Cost of directory management                                                          8,602         -
                                                                                 --------------    -------------
    TOTAL COST OF GOODS SOLD                                                          1,392,073            94,029
                                                                                 --------------    --------------

GROSS PROFIT                                                                            576,007            77,937
                                                                                 --------------    --------------
SELLING & GENERAL EXPENSES
    Selling expense                                                                      60,432          -
    General and administrative expense                                                1,209,923            66,145
    Amortization and depreciation                                                       259,794            26,756
                                                                                 --------------    --------------

    TOTAL SELLING & GENERAL EXPENSES                                                  1,530,149            92,901
                                                                                 --------------    --------------

        (LOSS) FROM OPERATIONS                                                        (954,142)          (14,964)
                                                                                 --------------    --------------

OTHER (INCOME) AND EXPENSES
    Other (income)                                                                     (14,933)          -
    Other expenses:
         Bad debts                                                                        9,353          -
         Interest expense                                                                16,767               932
                                                                                 --------------    --------------
         Total other expenses                                                            26,120               932
                                                                                 --------------    --------------

    TOTAL OTHER (INCOME) AND EXPENSES                                                    11,187               932
                                                                                 --------------    --------------

NET (LOSS) BEFORE  MINORITY INTEREST IN EARNINGS
     OF CONSOLIDATED SUBSIDIARIES                                                     (965,329)          (15,896)

MINORITY INTEREST IN EARNINGS OF
     CONSOLIDATED SUBSIDIARIES                                                          106,878               214
                                                                                 --------------    --------------

        NET (LOSS)                                                                    (858,451)          (15,682)
                                                                                 --------------    --------------

 OTHER COMPREHENSIVE INCOME
    Foreign currency translation adjustments                                             32,259             5,652
                                                                                 --------------    --------------

     TOTAL OTHER COMPREHENSIVE INCOME                                                    32,259             5,652
                                                                                 --------------    --------------

           TOTAL COMPREHENSIVE (LOSS)                                            $    (826,192)   $      (10,030)
Weighted average number of common shares outstanding
     primary                                                                         17,063,230         7,356,875
     fully diluted                                                                   19,932,381         7,391,875
Basic net (loss) per share
      primary                                                                    $       (0.05)   $      -
     fully diluted                                                               $       (0.04)   $      -

</TABLE>

The accompanying notes are an integral part of these financial statements 2.

<PAGE>

<TABLE>

<CAPTION>

                       SYMPHONY TELECOM INTERNATIONAL INC.
                                AND SUBSIDIARIES
                      Consolidated Statements of Cash Flows
          For the Three-Month Periods Ended September 30, 2000 and 1999
                                   (Unaudited)

                                                                                     September 30    September 30
                                                                                          2000             1999
                                                                                          ----             ----
<S>                                                                                  <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net (Loss)                                                                           $    (858,451)  $      (15,682)
Adjustments to reconcile net (loss) to net cash used
    by operating activities:
    Depreciation and amortization expense                                                   259,794           26,756
    Changes in assets and liabilities:
        (Increase) decrease in accounts receivable                                      (1,027,533)           10,345
        (Increase) in prepaid expenses                                                    (114,964)            (377)
        (Increase) in inventories                                                          (49,120)         (10,470)
        Increase (decrease) in accounts payable and bank loans                            2,299,537         (19,001)
        (Decrease) in accrued liabilities                                                  (71,706)          (1,740)
        (Decrease) in income taxes payable                                                      (3)         -
                                                                                     --------------   --------------

           NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES                                 437,554         (10,169)
                                                                                     --------------   --------------
CASH FLOWS FROM INVESTING ACTIVITIES
    (Acquisition) of property and equipment                                               (253,506)         -
    (Additions) to other intangible assets                                              (1,854,450)         -
                                                                                     --------------   --------------

           NET CASH (USED) BY INVESTING ACTIVITIES                                      (2,107,956)         -
                                                                                     --------------   --------------
CASH FLOWS FROM FINANCING ACTIVITIES
    Advances from leases payable                                                            104,537         -
    Proceeds from notes payable                                                             614,920            4,425
    (Repayment of) notes payable to related parties                                         (17,338)          (1,335)
    Proceeds from common stock                                                            1,256,235         -
    Minority interest                                                                     (105,561)            (203)
                                                                                     --------------   --------------


           NET CASH PROVIDED BY FINANCING ACTIVITIES                                      1,852,793            2,887
                                                                                     --------------   --------------

EFFECT OF FOREIGN CURRENCY TRANSACTIONS ON CASH                                              23,422            7,282
                                                                                     --------------   --------------

INCREASE IN CASH AND CASH EQUIVALENTS                                                       205,813         -
CASH AND CASH EQUIVALENTS, beginning of period                                              275,823         -
                                                                                     --------------   --------------
CASH AND CASH EQUIVALENTS, end of period                                             $      481,636  $      -

SUPPLEMENTAL DISCLOSURES
Interest paid                                                                        $     (16,767)  $         (932)
Income taxes paid                                                                    $      -         $      -
Schedule of non-cash investing and financing activities:
    Acquisition of Telemax Communications Inc.                                       $    1,005,236  $      -
    Purchase of net assets from Mondetta Telecommunications Inc.                     $    1,366,950  $      -

</TABLE>


The accompanying notes are an integral part of these financial statements

                                                          3.

<PAGE>

                       SYMPHONY TELECOM INTERNATIONAL INC.
                                AND SUBSIDIARIES
                          NOTES TO FINANCIAL STATEMENTS

1.  BASIS OF PRESENTATION

Symphony Telecom International, Inc. ("Company") was incorporated on January 15,
1982 as Mammoth Resources, Inc. under the laws of the State of Utah. The Company
changed its name to Symphony Telecom International,  Inc. by a resolution of the
Board of Directors on March 23, 2000.

Pursuant to an Agreement  and Plan of  Reorganization  dated March 9, 2000,  the
Company  acquired  all the issued and  outstanding  shares of  Symphony  Telecom
International,  Inc.,  a  company  incorporated  under  the laws of the State of
Delaware, in a non-cash transaction.

As part of its  reorganization,  the Company  authorized  a one for five reverse
stock split of existing  issued  common  shares,  resulting  in the number being
reduced from  16,278,357 to 3,255,684.  On the same date, and not subject to the
reverse stock split, the Company authorized  issuance of 7,924,375 common shares
in restricted form being a one for one exchange of shares for all the issued and
outstanding  shares  of  Symphony  Telecom  International,   Inc.  Further,  two
directors were issued an additional  1,000,000  common each and 1,200,000 shares
were issued to consultants for services rendered with the transaction.

As a result of a subsidiary's agreement to purchase business assets and customer
listing,  an  option  has  been  authorized  by the  board of  directors  of the
subsidiary  company  for  35,000  common  shares  at $3.00 per  share,  expiring
December 31, 2000.  This agreement has been assumed by the Board of Directors of
the Company on its acquisition of Symphony Telecom International, Inc.

A  change  in  control  of the  Company  and  the  simultaneous  March  9,  2000
acquisition of Symphony Telecom,  Inc.  (Delaware) has been accounted for on the
basis of a reverse  acquisition,  whereby combining  financial  statements gives
effect to the acquired  company  continuing to report as if it was the acquirer.
The  financial  statements  as  presented  reflect the  results of the  combined
entities.

Symphony  Telecom  International,  Inc. (the acquired  company) was incorporated
under the laws of the State of Delaware on December 4, 1998, to acquire Symphony
Telecom Inc.,  an affiliated  company  engaged in providing  telephone  services
principally in southern  Ontario,  Canada.  Symphony Telecom Inc. was formed May
27, 1996 under the Business Corporations Act of Ontario,  Canada for the purpose
of providing a broad range of  telecommunication  services  including  voice and
data  transmission,  internet  services,  and other  related  services for North
American  and  international  markets.  Pursuant  to an  Agreement  and  Plan of
Reorganization  dated  March 29,  1999,  Symphony  Telecom  International,  Inc.
acquired  all of the  common  shares of  Symphony  Telecom  Inc.  in a  non-cash
transaction on the basis of one Symphony Telecom  International,  Inc. share for
each Symphony  Telecom Inc.  share.  A total of 7,351,875  shares were issued to
effect the  acquisition.  These shares were  restricted  for purposes of resale.
Over a period  of  twelve  months,  the right to sell the  shares  accrued  on a
straight-line basis.

Effective July 1, 2000 Symphony Telecom Inc. purchased certain assets, including
customer  base,  accounts  receivable,  name and other  intangible  assets  less
certain  trade   payables  of  Mondetta   Telecommunications   Inc.,  a  company
incorporated  under  the  Canada  Business   Corporations  Act,  which  provides
international  long distance telephone  services,  directed mostly to retail and
residential  ethnic  populations  across  Canada,  as  well  as  small  business
segments.

The  transaction  was  non-cash,  with the purchase  price of  $3,990,660  being
satisfied by issue of 820,821  common shares of Symphony  Telecom  International
Inc.  with each common  share  having  attached a warrant to purchase one common
share at the price of $3, expiring September 30, 2001.

Effective July 31, 2000 Symphony Telecom Inc.  purchased 61.5% of all the issued
and outstanding shares of Telemax Communications Inc., a company incorporated in
Ontario, Canada, which promotes and markets prepaid telephone cards for national
and  international  long distance  telephone  services directed mostly to ethnic
populations  across  Canada.  The purchase was  accounted for using the purchase
method of accounting and the results of operations have been  consolidated  from
the effective date of acquisition.

                                                        4.
<PAGE>

                       SYMPHONY TELECOM INTERNATIONAL INC.
                                AND SUBSIDIARIES
                          NOTES TO FINANCIAL STATEMENTS


The purchase  price of  $4,830,361  was satisfied by cash payment of $166,277 on
closing,  and the issuance of 1,000,000 common shares,  each attached with a one
share warrant, of Symphony Telecom Inc., which are convertible, by September 30,
2005,  into common  shares of Symphony  Telecom  International  Inc. for a value
representing  $1,995,330.  The issuance of Symphony Telecom International Inc.'s
common shares will be restricted  for the purposes of resale for a period of one
year. A further  three  payments of $166,278  each are due and payable up to and
including  September  30, 2001 upon Telemax  Communications  Inc.'s first year's
revenues reaching cumulative targets of $10,087,500, $20,175,000 and $30,262,500
respectively.  Symphony  Telecom Inc. is also to provide Telemax  Communications
Inc. with four equal payments of $672,500 for working  capital by October 30 and
December 31, 2000, and March 31 and June 30, 2001.

On August 31, 2000 Symphony Telecom  International Inc. purchased 51% of all the
shares of 9041-6868 Quebec Inc.  operating as Directory  Management  America Dot
Com, a company  incorporated  in Quebec,  Canada,  which provides  marketing and
advertising  services,  specifically to yellow pages and e-commerce  advertising
agencies throughout North America, which gives national support for businesses.

The purchase price of $339,790 is an all cash transaction, with $135,916 paid at
closing and the balance payable in 3 equal monthly installments.

On August 28, 2000, the Company entered into a private placement  agreement with
Geek  Securities,  Inc. to provide,  on a best efforts basis, up to $100 million
for common shares. In June 2000, Geek Securities,  Inc. privately placed 660,000
common  shares of  Symphony  Telecom  International,  Inc.,  restricted  for the
purposes of resale for a period of one year, netting the Company $780,000.

In the opinion of management,  the accompanying  interim  financial  statements,
prepared in accordance with the instructions for Form 10-QSB,  are unaudited and
contain  all  material   adjustments,   consisting  only  of  normal   recurring
adjustments  necessary to present  fairly the  financial  condition,  results of
operations  and cash flows of the Company  for the  respective  interim  periods
presented.  The  current  period  results  of  operations  are  not  necessarily
indicative  of results  which  ultimately  will be reported  for the fiscal year
ending June 30, 2001.

The preparation of financial  statements in conformity  with generally  accepted
accounting principles in the United States requires management to make estimates
and assumptions  that affect the reported  amounts of assets and liabilities and
disclosure of  contingent  assets and  liabilities  at the date of the financial
statements  and the  reported  amounts  of  revenues  and  expenses  during  the
reporting period. Actual results could differ from those estimates.

2.  GOING CONCERN AND MANAGEMENT PLAN

The  Company  has  minimal  capital  resources   presently   available  to  meet
obligations, which normally can be expected to be incurred by similar companies,
has  recurring   operating   losses  and  negative  cash  flows  from  operating
activities. These factors raise substantial doubt about the Company's ability to
continue as a going  concern.  The Company will have to pursue other  sources of
capital,  such as additional  equity  financing or debt  financing.  There is no
assurance that the Company will be able to obtain such  financing;  however,  in
June 2000,  the Company  conducted a private  placement  of its stock and raised
$780,000.  The financial  statements do not include any  adjustments  that might
result from the outcome of this going concern  uncertainty.  Management's  plans
over the next twelve-month period are to further develop its  telecommunications
pursuits in North America,  mainly through acquisitions that require substantial
funding, a significant amount of which is currently being arranged.  There is no
assurance the Company will be able to obtain such financing.

3.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

These  financial  statements  have been  prepared in accordance  with  generally
accepted  accounting  principles in the United States.  Outlined below are those
policies considered particularly significant for the Company.

CASH AND CASH EQUIVALENTS For purposes of the statement of cash flows,  cash and
cash  equivalents  consist of money market  funds and demand  deposits in banks,
purchased with a maturity of three months or less. The Company has no such items
at September 30, 2000 and 1999.

ACCOUNTS   RECEIVABLE   In  the   purchase   of   net   assets   from   Mondetta
Telecommunications  Inc. 70% of accounts receivable were factored.  At September
30, 2000  accounts  receivable  which have been  factored  totaled  $597,782 and
$418,447 has been included in accounts payable.

                                       5.
<PAGE>

                       SYMPHONY TELECOM INTERNATIONAL INC.
                                AND SUBSIDIARIES
                          NOTES TO FINANCIAL STATEMENTS

INVENTORY Inventory is valued at the lower of cost or market using the first-in,
first out method.

INCOME TAXES The Company filed  separate  corporate  federal  income tax returns
through  December 31,  1998.  Due to changes in control  occurring in 1999,  the
Company has no net operating loss  carryforwards  available to offset  financial
statement or tax return taxable income in future periods.

The Company uses the asset and liability  method of accounting for income taxes.
At December 31, 1999 and 1998, respectively, the deferred tax asset and deferred
tax liability accounts,  as recorded when material to the financial  statements,
are  entirely  the  result  of  temporary  differences.   Temporary  differences
represent  differences in the  recognition of assets and liabilities for tax and
financial  reporting purposes,  primarily  non-deductible  accrued  compensation
amounts payable to an officer.

USE OF ESTIMATES The  preparation  of financial  statements  in conformity  with
generally accepted  accounting  principles requires management to make estimates
and  assumptions   that  affect  certain   reported   amounts  and  disclosures.
Accordingly, actual results could differ from those estimates.

NET LOSS PER COMMON  SHARE Basic per share  information  is computed by dividing
income  available to common  stockholders  by weighted  average number of common
shares  outstanding.  There were  820,821  warrants  and  1,995330  common share
options  outstanding at September 30, 2000, and 35,000 common share options were
outstanding at September 30, 1999.

FAIR VALUE OF FINANCIAL INSTRUMENTS The Company estimates that the fair value of
all financial  instruments at March 31, 2000 does not differ materially from the
aggregate carrying values of its financial  instruments  recorded in the balance
sheet. The estimated fair value of amounts of receivables,  accounts payable and
accrued  liabilities  approximate  fair  value due to their  short-term  nature.
Considerable  judgement is necessarily  required in interpreting  market data to
develop the  estimates of fair value,  and  accordingly,  the  estimates are not
necessarily  indicative  of the  amounts  that the  Company  could  realize in a
current market exchange.

PROPERTY AND EQUIPMENT Computer equipment, office furniture,systems software and
telephone equipment are stated at cost.  Expenditures for normal maintenance and
repairs  are charged to expense as  incurred.  Depreciation  is  computed  using
reducing  balance  method based upon the  estimated  useful lives of the related
assets.  Depreciation  expense  was  $20,964 for the  three-month  period  ended
September  30, 2000 and $9,157 for the  three-month  period ended  September 30,
1999.

PRINCIPLES OF  CONSOLIDATION  The financial  statements  include the accounts of
Symphony Telecom  International,  Inc. a Utah corporation and its  subsidiaries,
Linkdata  Communications  London,  Ontario Inc., 9041-6868 Quebec Inc., Canadian
corporations,  and Symphony Telecom  International Inc., a Delaware corporation,
and its subsidiaries  Symphony Telecom Inc. and subsidiaries of Symphony Telecom
Inc.,  Communication  Solutions Group Ltd., and Telemax  Communications Inc. and
Canadian   Inter-Latin   Communications  Inc.,  and  a  subsidiary  of  Canadian
Inter-Latin  Communications  Inc., Canadian  Inter-Continental of Ecuador SA All
subsidiaries of Symphony  Telecom  International,  Inc.  (Delaware) are Canadian
corporations  except  the latter  incorporated  in  Ecuador  (collectively,  the
"Subsidiaries").  All significant  inter-company  transactions and balances have
been  eliminated  in  consolidation.  The  consolidated  group  is  referred  to
collectively and individually as the "Company".

MINORITY  INTEREST The amount for minority  interest  represents 25% interest in
subsidiary,  Canadian Inter-Continental  Communications of Ecuador SA, a company
incorporated  under the laws of Ecuador on November 23, 1998;  38.5% interest in
subsidiary,  Telemax  Communications  Inc. a company  incorporated  in  Ontario,
Canada;  49%  interest in 9041-6868  Quebec  Inc.;  and 21% interest in Symphony
Telecom Inc., a company  incorporated in Ontario,  Canada. The minority interest
in net loss of subsidiaries  has been credited to income and charged to minority
interest.

RECLASSIFICATIONS  Certain amounts in the accompanying financial statements have
been reclassified to better reflect the Company's operations,  in the opinion of
management.  These reclassifications have been reflected in all amounts shown in
the accompanying financial statements.

NEW ACCOUNTING  STANDARDS Statement of Financial  Accounting  Standards No. 130,
"Reporting  Comprehensive  Income"  ("SFAS"  No.  130)  issued  by the  FASB  is
effective for financial  statements  with fiscal years  beginning after December
15,  1997.  SFAS No. 130  establishes  standards  for  reporting  and display of
comprehensive  income  and  its  components  in a full  set  of  general-purpose
financial statements. The Company adopted SFAS No. 130 as of June 30, 1997.






                                                        6.
<PAGE>

                       SYMPHONY TELECOM INTERNATIONAL INC.
                                AND SUBSIDIARIES
                          NOTES TO FINANCIAL STATEMENTS

Statement of Financial Accounting Standards No. 131, "Disclosures about Segments
of an Enterprise and Related Information" ("SFAS No. 131") issued by the FASB is
effective for financial  statements  with fiscal years  beginning after December
15, 1977. SFAS No. 131 requires that public companies report certain information
about operating  segments,  products,  services and geographical  areas in which
they  operate and their major  customers.  The Company has adopted  SFAS No. 131
since incorporation and it had no effect on its financial position or results of
operations.

4.  NOTES PAYABLE AND PROMISSORY NOTE

Officers and directors of subsidiary companies have advanced amounts,  which are
due and payable on due upon demand,  bearing  interest  ranging from nil% to 25%
simple interest per annum. Notes payable are all unsecured

5.  LONG-TERM DEBT

Long-term debt is summarized as follows :
                                                           Principal    Discount

        Noninterest-bearing notes payable to directors   $  93,616      $ 31,474

Notes payable to directors are considered long-term, and are noninterest-bearing
with no specific terms for repayment. Discount is based on imputed interest rate
of 10%, and has been recorded as contributed capital.

6.  COMMITMENTS

On October  15, 2000 the Company  moved its head  office to  Brampton,  Ontario,
Canada and has entered  into a five year lease on 20,000  square foot  building,
prepaying one year's rent of $86,464. The Company's total rent and lease expense
was $35,383 for the three-month  period ended September 30, 2000 and $12,322 for
the  three-month  period  ended  September  30,  1999.  The  Company  has leased
premises, equipment and automobiles,  which have been accounted for as operating
leases. Lease payments required over the next five years are as follows:

                  2001     $219,498
                  2002     $190,481
                  2003     $152,053
                  2004     $138,407
                  2005     $130,000

7. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill  represents  the  excess of the  purchase  price over the fair value of
acquired  businesses and, with other  intangible  assets,  is being amortized on
straight-line basis. The life of goodwill arising on acquisitions,  and the life
of  other  intangible   assets  is  estimated  to  have  lives  of  five  years.
Amortization  expense was $238,830  for the three- month period ended  September
30, 2000 and $17,599 for the three-month period ended September 30, 1999.

The details of goodwill and other intangible assets are as follows:

                                                     Net              Net
                               Accumulated      September 30        June 30
                Cost          Amortization          2000             2000
           --------------     ------------          ----             ----

Goodwill   $    5,037,508   $       334,548     $   4,702,960     $   738,710


8.  FOREIGN ASSETS, REVENUES AND CONSOLIDATED FOREIGN ENTITIES

The Company is presently  Canadian based, and as such carries out its operations
in  Canada.  Symphony  Telecom  International,  Inc.  and  subsidiary  companies
maintain their books using Canadian  dollars.  The books of these companies have
been  translated  into U.S.  dollars  using the current rate  method.  Gains and
losses  on  foreign  currency  transactions  are  included  in the  consolidated
statements of other comprehensive loss.

                                       7.
<PAGE>


                         PART I - FINANCIAL INFORMATION

FORWARD STATEMENTS

Certain   statements  herein  constitute   forward-looking   statements.   These
statements involve known and unknown risks, uncertainties and other factors that
may cause actual results, levels of activity, performance, or achievements to be
materially different from any future results, levels of activity, In some cases,
you can  identify  forward-looking  statements  by  terminology  such as  "may,"
"will,"  "should,"  "could,"  "expects,"  "plans,"  "anticipates,"   "believes,"
"estimates,"  "predicts,"  "potential,"  or  "continue"  or the negative of such
terms or other comparable  terminology.  Although expectations  reflected in the
forward-looking statements are believed to be reasonable,  there is no guarantee
of future results, levels of activity,  performance, or achievements.  Moreover,
neither we nor any other  person  assumes  responsibility  for the  accuracy and
completeness  of such  statements.  We do not  undertake  to  update  any of the
forward-looking statements herein.

 Item 1. Financial Statements.

The financial statements are included herein.

<PAGE>

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

The  company  has made  several  acquisitions  that  have had an  impact  on the
performance  of the company  and  resulted in  substantial  material  changes in
revenues, expenses and other items compared to the same quarter last year.

On June 29,  2000,  the company  acquired  all of the common  shares of Linkdata
Communications  London Ontario Inc., a company incorporated in Ontario,  Canada,
which is a data communications company providing enterprise networking;  network
security;  DSL;  wireless and T1 access;  e-mail and virtual hosting services in
Southern Ontario, Canada.

Effective  July 1, 2000  (while we agreed that this would be, for all intent and
purposes,  the effective date for the  transaction to determine who was entitled
to  receivables,  and to consider  adjustments,  etc., we made the closing on or
about September 30, 2000), Symphony Telecom,  Inc., a subsidiary of the Company,
purchased certain assets, including customer base, accounts receivable, name and
other   intangible   assets   less   certain   trade   payables,   of   Mondetta
Telecommunications  Inc.,  a  company  incorporated  under the  Canada  Business
Corporations Act, which provides international long distance telephone services,
directed mostly to retail and residential  ethnic  populations across Canada, as
well as small  business  segments.  The Mondetta  Division is now operated under
Mondetta Communications Corp. a wholly owned subsidiary of Symphony Telecom Inc.

Effective  July 31, 2000 (while we agreed that this would be, for all intent and
purposes,  the effective date for the  transaction to determine who was entitled
to  receivables,  and to consider  adjustments,  etc., we made the closing on or
about  September 30, 2000),  Symphony  Telecom Inc.  purchased  61.5% of all the
issued  and  outstanding  shares  of  Telemax  Communications  Inc.,  a  company
incorporated in Ontario,  Canada,  which promotes and markets prepaid  telephone
cards for national and international  long distance  telephone services directed
mostly to customers in Canada.

On August 31,  2000,  our Company  purchased  51% of all the shares of Directory
Management America Dot Com Inc., a company incorporated in Quebec, Canada, which
provides  marketing and advertising  services,  specifically to yellow pages and
e-commerce advertising agencies throughout North America.

The  above   Agreements   are   subject   to   numerous   representations,   and
conditions,including payment of the balance of the purchase price.

The  following  discussion  should  be read in  conjunction  with the  Financial
Statements and Notes thereto  contained  elsewhere  herein.  Please note that no
assurance  exists  as to  the  actual  future  outcome  of  Management's  plans,
assumptions or estimates.  Historically the Company has experienced  losses from
operations.  Management  anticipates that losses will substantially  decrease as
businesses are acquired,  with revenues substantially  increasing.  No guarantee
exists.

<PAGE>

RESULTS OF  OPERATIONS - FIRST  QUARTER OF FISCAL 2001 COMPARED TO FIRST QUARTER
2000

Symphony's  net revenues in fiscal Q1 2001  increased  by 1,044%  compared to Q1
2000 as a result of consolidation  of the  acquisitions  made during the period.
Net revenues for Symphony's Interconnect and Telephone Services operations,  not
including the effects of any in-year acquisitions, increased by 50.4% in Q1 2001
compared to Q1 2000 as a result of the growth of the direct sales  force.  Sales
results within the Telephone services category increased by 3548% reflecting the
addition of the  customer  base of Mondetta  Telecommunications  Inc.  which was
effective as of the  beginning of the Quarter.  For Q1 2001,  sales of Telephone
Services comprised a majority (53%) of Symphony's consolidated net revenues. The
majority of sales of Internet  Services are  attributable  to the acquisition of
Linkdata  Communications  in June 2000.  Sales in the Phone Card segment are all
the results of the  acquisition,  during the period,  of Telemax  Communications
Inc. The company acquired 61.5% of the outstanding  shares of Telemax  effective
July 31, 2000.

The company's gross margin at 29% in Q1 2001 compared to 45% in Q1 2000.  Within
the Telephone Services operating segment,  cost of sales was negatively impacted
by costs  associated  with the  transition  of the customer  base from  Mondetta
Telecommunications Inc. to Symphony.  Gross margin in this sector is expected to
return to the 41% level  achieved in 1Q2000.  Margins on  equipment  and systems
declined  from 43% to 32%  reflecting  fluctuating  margins  on  voice  and data
equipment.  Cost of goods sold in the directory management category reflects the
results of startup operations of Directory Management America.com.

Selling,  General  and  Administrative  expenses  for 1Q2001  compared to 1Q2000
indicates an substantial increase which parallels the increase in Revenue and is
primarily the result of the consolidation of the  acquisitions,  additional cost
incurred  with the  integration  of the Mondetta  customer base and increases in
SG&A due to a build up of sales staff in the current quarter.

Minority  interest  reflects the interest of Telemax in the Canadian  subsidiary
Symphony Telecom Inc.

FINANCIAL CONDITION

As of September 30, 2000 the company has cash on hand which  management  believe
will meet the  requirements  through  mid-2001.  The  company  believes  that by
relying on its private placement  offerings of shares, and upon anticipated cash
flow from  business  acquisitions,  it will meet it's  current  commitments  and
requirements for the balance of the year.  Management  believes that the ability
of the Company to achieve substantial  profitability is conditioned upon several
variables,  including the successful  operation of acquisitions and their future
operating results. The Company has been substantially  dependent on the proceeds
of various  offerings of its  securities  to fund its  operating  expenses.  The
Company has not engaged in any  material  borrowing  activity,  has minimal loan
arrangement with any commercial lending institution,  and anticipates  receiving
traditional commercial debt financing in the foreseeable future

<PAGE>

The major source of cash during the first three months of 2001 was cash provided
by financing activities of $1.256 million.  Major uses of cash during the period
included  the results of  acquisition  activity  and  $858,451  to fund  ongoing
operations.

The Company continues to explore  opportunities  with various  investors,  joint
venture  candidates,   and  prospective  licensees.   The  Company  has  various
agreements and pursuits  underway for the  establishment of funding for both the
short and long term needs of our Company. Currently, these are on a best efforts
basis. The Company believes that current funding, as well as others in potential
private  placements and an eventual  registered public offering,  if successful,
will assist the Company in meeting its cash needs, but there is no guarantee.

OUTLOOK

Symphony  Telecom  is one of a new  breed  of  service  providers,  fostered  by
increasing deregulation of the telephone industry around the world,  positioning
itself to take advantage of the opportunities for change by quickly implementing
market solutions using a new generation of equipment and technology. Our goal is
to present ourselves as an Integrated  Communications Provider (ICP) with a full
suite of voice and data services for  residential  and business  consumers.  Our
focus is on meeting the needs of the  marketplace  and,  through the efforts and
creativity  of our account  executives  and customer  engineers,  to present our
customers with the best communications solution for their needs.

To do this Symphony  Telecom is  addressing  several  strategic  elements in our
infrastructure  and  network  capabilities.  We  intend  to  be  represented  by
well-trained,  knowledgeable  account  executives and engineers.  In this regard
Symphony  has  contracted  a  professional  recruiting  firm to find and recruit
seasoned telecom sales executives. We are complementing their industry knowledge
with  extensive  in-house  training on  convergent  services.  We are building a
services  delivery  network  leveraging a  packet-based  infrastructure  with an
application-focussed  value  proposition to deliver all of the advantages of the
new network  technologies  to our customers.  To this end Symphony has purchased
services from Nortel Networks Global  Professional  Services  organisation which
will  assist  us in  designing  the  network  of the  future  and  assist in the
development  of the  business  model  for a Next  Generation  Competitive  Local
Exchange Carrier (CLEC) and Applications Services Provider (ASP).

<PAGE>

We plan to grow our domestic and international long distance services market and
improve profitability through  implementation of a cost-effective  international
inter-exchange  carrier (IXC)  network.  Symphony  Telecom has targeted  certain
acquisitions  that have the capacity to propel us into a leadership  position in
the carrier segment.  Combining our Telemax  Communications  Inc.  pre-paid card
operations,  Mondetta  Communications  Corp.  equal access services and Symphony
Telecom's  equal  access  services we  currently  originate  in the order of 100
million minutes per month of long distance traffic through our domestic sales of
pre-paid and post-paid services.  We plan to implement local switches and leased
facilities  to expand this traffic and,  through our  acquisition  strategy,  we
anticipate having a low cost international network that will greatly enhance our
profit  margins  while  allowing us to continue to offer  superior  value to our
customers.

We have adopted the slogan  "Symphony  Telecom,  Simply  Different"  to indicate
that, unlike most of the new generation of telecom companies, which are niche or
single technology oriented,  we are customer oriented and global in the scope of
the services and systems we offer. We are one of the few advanced,  full service
global  network  providers.  We have  recruited top  executives  with  extensive
experience at companies such as Nortel  Networks,  Bell Canada and AT&T and have
engaged the assistance of a leading  equipment vendor to ensure that the network
solutions and operations systems we employ today will meet the evolving needs of
tomorrows emerging lucrative markets.

Forward  Statements.   Certain  statements  herein  constitute   forward-looking
statements.  These statements involve known and unknown risks, uncertainties and
other factors that may cause actual results, levels of activity, performance, or
achievements  to be  materially  different  from any future  results,  levels of
activity,   performance,   or   achievements   expressed   or  implied  by  such
forward-looking  statements.  In some cases,  you can  identify  forward-looking
statements by terminology such as "may," "will," "should,"  "could,"  "expects,"
"plans," "anticipates,"  "believes,"  "estimates,"  "predicts,"  "potential," or
"continue"  or the  negative  of such  terms  or other  comparable  terminology.
Although expectations  reflected in the forward-looking  statements are believed
to be reasonable,  there is no guarantee of future results,  levels of activity,
performance, or achievements.  Moreover, neither we nor any other person assumes
responsibility for the accuracy and completeness of such statements. The Company
does not undertake to update any of the forward-looking statements herein.

<PAGE>

                                  SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

SYMPHONY TELECOM INTERNATIONAL, INC.

/s/  Gilles Trahan, C.E.O.
--------------------------
(principal executive and financial officer)

Date:   August 21, 2000