SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                   FORM 10QSB


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


For Quarter Ended                                     Commission File Number
------------------                                    ----------------------
June 30, 2001                                              33-41063-A

                        ART, MUSIC & ENTERTAINMENT, INC.
                     --------------------------------------
             (Exact name of registrant as specified in its charter)

Florida                                               59-2960590
------------------------------------                  --------------------------
State or Other Jurisdiction                           (I.R.S. Employer
of incorporation or organization)                     Identification Number)

4400 W. Sample Road, Suite 140, Coconut Creek, FL  33073
--------------------------------------------------------
(Address of principal Executive Offices                     Zip Code)

Registrant's telephone number, including area code: (954) 971-9100


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to the filing
requirements for at least the past 90 days.

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

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

                          4,397,767 as of June 30, 2001


<PAGE>


                       ART, MUSIC AND ENTERTAINMENT, INC.

                          (A DEVELOPMENT STAGE COMPANY)
                              FINANCIAL STATEMENTS

                                  JUNE 30, 2001
                                   (UNAUDITED)



<PAGE>

<TABLE>
<CAPTION>


                               ART, MUSIC AND ENTERTAINMENT, INC.
                                  (A Development Stage Company
                                         Balance Sheets
                                          (Unaudited)



                                                                      June 30,                December 31,
                                                                        2001                      2000
                                                                  -----------------         ------------------
<S>                                                                      <C>                        <C>
ASSETS:
Current assets:
   Cash                                                                        $ -                        $ -
   Prepaid Expenses                                                                                         -

                                                                  -----------------         ------------------
      Total current assets                                                       -                          -
                                                                  -----------------         ------------------

TOTAL ASSETS                                                                   $ -                        $ -
                                                                  =================         ==================


LIABILITIES AND STOCKHOLDERS' EQUITY:
Current Liabilities:
   Accounts Payable and Accrued Liabilities                                    $ -                        $ -
                                                                  -----------------         ------------------

Total Current Liabilities                                                        -                          -
                                                                  -----------------         ------------------

Stockholders' Equity:
Common Stock, $.01 Par Value, 100,000,000 shares
   authorized, 4,397,767 shares issued and outstanding                   4,397,767                  4,397,767
Additional Paid-In Capital                                                 204,566                    204,566
Deficit accumulated during the development stage                          (208,963)                  (208,963)
                                                                  -----------------         ------------------

                                                                  -----------------         ------------------
Total Stockholders' Deficit                                                      -                          -
                                                                  -----------------         ------------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                     $ -                        $ -
                                                                  =================         ==================

</TABLE>


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

                                      F-1


<PAGE>

<TABLE>
<CAPTION>


                       ART, MUSIC AND ENTERTAINMENT, INC.
                         (A Development Stage Company)
                            Statements of Operations
                                  (Unaudited)


                                                                                                              May 25, 1988
                                           Three-Months Ended                   Six-Months Ended              (Inception) to
                                                June 30,                            June 30,                   June 30,
                                          2001             2000               2001             2000             2001
<S>                                      <C>              <C>                <C>              <C>                <C>
Revenue
   Revenue                                     $ -              $ -                $ -              $ -           $ 846,545
   (Less) Cost of Sales                          -                -                  -                -            (336,524)
                                      -------------    -------------      -------------    -------------      --------------
Total Income                                     -                -                  -                -             510,021

Operating Expenses
   Doubtful Accounts                             -                -                  -                -              34,469
   Consultant Fees                               -                -                  -                -             341,423
   Legal & Accounting                            -                -                  -                -              42,630
   Advertising                                   -                -                  -                -              14,542
   Interest Expense                              -                -                  -                -               8,577
   Telephone                                     -                -                  -                -              26,242
   Rent                                          -                -                  -                -              42,670
   Other General Expenses                        -                -                  -                -             212,452
                                      -------------    -------------      -------------    -------------      --------------
Total Expenses                                   -                -                  -                -             723,005
                                      -------------    -------------      -------------    -------------      --------------
Net Loss From Operations                         -                -                  -                -            (212,984)
                                      -------------    -------------      -------------    -------------      --------------
Other Income
   Interest Income                               -                -                  -                -               4,021
                                      -------------    -------------      -------------    -------------      --------------
Net Loss                                       $ -              $ -                $ -              $ -          $ (208,963)
                                      =============    =============      =============    =============      ==============

Per Share Information:

   Weighted average number of
     common shares outstanding           4,397,767        4,397,767          4,397,767        4,397,767
                                      -------------    -------------      -------------    -------------
Net Loss per Common Share                   *                *                  *                *
                                      =============    =============      =============    =============

</TABLE>

* Less than $.01


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

                                      F-2

<PAGE>

<TABLE>
<CAPTION>

                               ART, MUSIC AND ENTERTAINMENT, INC.
                                 (A Development Stage Company)
                                    Statement of Cash Flows
                                          (Unaudited)


                                                                                                            May 25, 1988
                                                                              Six-Months Ended             (Inception) to
                                                                                  June 30,                    June 30,
                                                                         2001               2000                2001
                                                                      ----------        ------------       ---------------
<S>                                                                           <C>                <C>            <C>
Cash Flows from Operating Activities:
Net Loss                                                                      $ -                $ -            $ (208,963)

Net Cash Flows Used by Operating Activities                                     -                  -              (208,963)

Cash Flows from Financing Activities:
   Issuance of Common Stock                                                     -                  -               208,963

Net Cash Flows Provided by Financing Activities                                 -                  -               208,963

Net Increase (Decrease) in Cash                                                 -                  -                     -

Cash and cash equivalents - Beginning of period                                 -                  -                     -

Cash and cash equivalents - End of period                                     $ -                $ -                   $ -
                                                                      ============      =============     =================



Supplemental Disclosure of Cash Flow Information
      Cash paid for Interest                                                  $ -                $ -                   $ -
                                                                      ============      =============     =================
      Cash paid for Income Taxes                                              $ -                $ -                   $ -
                                                                      ============      =============     =================

</TABLE>


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

                                      F-3

<PAGE>

<TABLE>
<CAPTION>

                                       ART, MUSIC AND ENTERTAINMENT, INC.
                                          (A Development Stage Company)
                                   Statement of Stockholders' Equity (Deficit)
                                                  June 30, 2001
                                                   (Unaudited)



                                                                                                           Deficit
                                                                                                           Accumulated
                                                                                              Additonal     During the
                                        Preferred Stock              Common Stock            Paid-In       Development
                                   # of Shares     Amount        # of Shares   Amount        Capital        Stage          Totals
                                  -------------  ----------    -------------- ----------    -----------    -----------  ------------
<S>                                <C>          <C>            <C>            <C>         <C>           <C>            <C>

Balance December 31, 1995                 -             $ -    3,575,268      $ 3,575      $ 87,810     $ (132,399)      $ (41,014)

Issuance for Merger                 693,221      55,556,100       66,533           67           (67)             -      55,556,100
Reverse Merger                     (486,754)    (48,675,400)           -            -             -              -     (48,675,400)
Deduction other assets                    -      (6,763,122)           -            -                            -      (6,763,122)
Net Loss for Year                         -               -            -            -             -        (72,473)        (72,473)
                                  ----------  --------------  -----------   ----------    ----------    -----------    ------------
Balance - December 31, 1996         206,467         117,578    3,641,801        3,642        87,743       (204,872)          4,091
                                  ----------  --------------  -----------   ----------    ----------    -----------    ------------
Preferred Stock to Common Stock    (206,467)       (117,578)     755,966          755       116,823              -               -
Net Loss for year                         -               -            -            -             -         (4,091)         (4,091)
                                  ----------  --------------  -----------   ----------    ----------    -----------    ------------
Balance - December 31, 1997               -               -    4,397,767        4,397       204,566       (208,963)              -
                                  ----------  --------------  -----------   ----------    ----------    -----------    ------------
Balance - December 31, 1998               -               -    4,397,767        4,397       204,566       (208,963)              -
                                  ----------  --------------  -----------   ----------    ----------    -----------    ------------
Balance - December 31, 1999               -               -    4,397,767        4,397       204,566       (208,963)              -
                                  ----------  --------------  -----------   ----------    ----------    -----------    ------------
Balance - June 30, 2001                   -             $ -    4,397,767      $ 4,397     $ 204,566     $ (208,963)            $ -
                                  ==========  ==============  ===========   ==========    ==========    ===========    ============

</TABLE>


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

                                      F-4

<PAGE>

                       ART, MUSIC AND ENTERTAINMENT, INC.
                          Notes to Financial Statements
                                  June 30, 2001
                                   (Unaudited)



Note 1 - Presentation of Interim Information:
         ------------------------------------

In the opinion of the management of Art, Music and Entertainment, Inc., the
accompanying unaudited financial statements include all normal adjustments
considered necessary to present fairly the financial position as of June 30,
2001 and the results of operations for the three-months and six-months ended
June 30, 2001 and 2000, and cash flows for the six-months ended June 30, 2001
and 2000. Interim results are not necessarily indicative of results for a full
year.

The financial statements and notes are presented as permitted by Form 10-QSB,
and do not contain certain information included in the Company's audited
financial statements and notes for the fiscal year ended December 31, 2000, and
the reader is cautioned to review the Audited Financial Statements for the year
ended December 31, 2000 and accompanying footnotes thereto.









                                      F-5


<PAGE>




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

RESULTS OF OPERATIONS FOR THREE MONTH PERIOD ENDED JUNE 30, 2001

The  Company had no revenues  for the three  month  period in 2001 or 2000.  The
Company had no general  and  administrative  expenses  for the period in 2001 or
2000. No profit or loss in 2001 or 2000.


RESULTS OF OPERATIONS FOR SIX MONTH PERIOD ENDED JUNE 30, 2001

The Company had no  expenses  or general  and  administrative  costs for the six
month period for 2001 or 2000. There were no revenues for the period in 2001 and
2000. The Company  recorded no net profit or loss in the period in 2001 or 2000.
While the  Company  is  seeking  capital  sources  for  investment,  there is no
assurance that sources can be found.

LIQUIDITY AND CAPITAL RESOURCES

The Company had no cash capital at the end of the period,  which is insufficient
for any significant  operations.  The Company will be forced to either borrow or
make  private  placements  of stock in order to fund  operations.  No  assurance
exists as to the ability to achieve loans, or make private placements of stock.


<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.    LEGAL PROCEEDINGS
-------    -----------------

           None

ITEM 2.    CHANGES IN SECURITIES
-------    ---------------------

           None

ITEM 3.    DEFAULT UPON SENIOR SECURITIES
-------    ------------------------------

           None

ITEM 4.    SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
-------    ---------------------------------------------------

           None

ITEM 5.    OTHER INFORMATION
-------    -----------------

           None

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K
-------    --------------------------------

                No reports on Form 8-K were made for the period for which this
           report is filed.


<PAGE>


                ART, MUSIC & ENTERTAINMENT, INC. AND SUBSIDIARIES
                          (A Development Stage Company)


                                   SIGNATURES

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



                                             ART, MUSIC & ENTERTAINMENT, INC.



Date: November 27, 2001                      /s/ Thomas McCrimmon
                                             -----------------------------------
                                             Thomas McCrimmon, President