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OKLAHOMA73-0981865              
(State or other jurisdiction of                                  
                                          
                       
(IRS Employer                
incorporation or organization)                                  
                                          
                     
Identification No.)





Registrant's telephone number
including area code                                       
   
(801) 256-9600



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 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.





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**ITEM 1 - FINANCIAL STATEMENTS**

The condensed financial statements included herein have been prepared by the Company,
without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.
Certain information and footnote disclosures normally included in financial statements prepared in
accordance with generally accepted accounting principles have been condensed or omitted pursuant
to such rules and regulations, although the Company believes that the disclosures are adequate to
make the information presented not misleading.

In the opinion of the Company, all adjustments, consisting of only normal recurring
adjustments, necessary to present fairly the financial position of the Company as of March 31, 2001
and the results of its operations and changes in its financial position from September 30, 2000
through March 31, 2001 have been made.  The results of its operations for such interim period is not
necessarily indicative of the results to be expected for the entire year.



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**ASSETS**

March 31,        September 30,	                                         
                                          
                        
20012000

TOTAL ASSETS                                       
                                       
$
0$
0

**LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)**

CURRENT LIABILITIES

Accounts Payable                                       
                                       
189,465169,713

Total Current Liabilities                                     
                                 
189,465               
169,713

COMMITMENT AND CONTINGENCIES (Note 2)                         
0                          
0

Preferred Stock; 1,428 shares at $700
par value; 0 shares issued and outstanding (Note 3)                                  0                          
0
Common Stock authorized; 20,000,000 shares at $.10
par value; 4,617,424 shares issued and outstanding                               
461,742                 
461,742
Capital in Excess of Par Value                                     
                       
7,884,033             
7,884,033
Accumulated Deficit                                       
                                    
(8,535,240)
(8,515,488)

		Total Stockholders' Equity (Deficit)                                  
                  
(189,465)                 
(169,713)

TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY (DEFICIT)                                     
    
$
0                           
$ 0

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**Habersham Energy Company**Statements of Operations
(unaudited)

For the Three  Months Ended               
For the Six Months Ended                                         
                                  
March             
March                             
March        March                                        
                                  
31, 2001           
31, 2000                           
31, 200131, 2000

REVENUE                                        
                                        
$     
0                 
$
0$
0$ 0

EXPENSES
$		 1,053               
$
0$		19,752$0

NET INCOME (LOSS) - Before Taxes                                   
(1,053)                
0                                       
(19,752)

Taxes (Note 1)                                       
                                         
0                     
0                                          
0                    
0

INCOME (LOSS)                                       
                               
$		(1,053)             
$0                                    
$		(19,752)          $0

Loss Per Common Share                                      
                   
$		(0.00)                
$		(0.00)                           
$		(0.00)           
$		(0.00)

Average Outstanding Shares                                     
              
4,617,424           4,617,424                        
4,617,424        4,617,424



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**Habersham Energy Company**Statements of Cash Flows
(unaudited)

For the Three Months Ended       For the Six Months Ended                                         
                                          
   
March           
March                        
March          March                                        
                                          
    
31, 2001         
31, 2000                       
31, 200131, 2000

SOURCES OF CASH

Net (Loss)                                        
                                          
            
$		(1,053)              
$0                             
$		(19,752)         $0

CASH PROVIDED BY (USED FOR)
OPERATING ACTIVITIES

Increase/(Decrease) in:
Accounts payable                                       
                                          
  
1,053                   
0                                   
19,752          0

Net Cash Provided (Used for) Operations                                   
        
0                          
0                                         
0             
0

INVESTMENT TRANSACTIONS                                      
                  
0                           
0                                         
0             0

FINANCING TRANSACTIONS                                      
                      
0                           
0                                         
0             
0

Net increase (decrease) in cash                                    
                         
0                           
0                                          
0             
0

Beginning cash balance                                      
                                     
0                            
0                                          
0             
0

Ending cash balance                                      
                                         
$0                        
$0                                          
$0            $ 0

Cash Paid For:
Interest                                         
                                          
                 
$0                          
$0                                          
 
$ 0          $0
Taxes                                         
                                          
                       
0                            
0                                          
   
0             0



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**Habersham Energy Company**Notes to the Financial Statements
March 31, 2001 and September 30, 2000

Organization

Habersham Energy Company (formerly U.S. Mineral & Royalty Corp.) (the "Company") was
incorporated under the laws of Oklahoma on April 14, 1975 as an oil and gas exploration,
development and operating company.  Historically, the Company was engaged in the business of
acquiring producing oil and gas properties but the Company has not had any business activity since
1995.

The computation of income or (loss) per share of common stock is based on the weighted average
number of shares outstanding at the date of the financial statements.

Income Taxes

The Company adopted Statement of Financial Standards No. 109 "Accounting for Income taxes"
in the fiscal year ended September 30, 2000 and was applied retroactively.

Statement of Financial Accounting Standards No. 109 " Accounting for Income Taxes" requires an
asset and liability approach for financial accounting and reporting for income tax purposes.  This
statement recognizes (a) the amount of taxes payable or refundable for the current year and (b)
deferred tax liabilities and assets for future tax consequences of events that have been recognized
in the financial statements or tax returns.

The Company has cumulative net operating loss carryforwards of over $8,000,000 at September 30,
2000.  No effect has been shown in the financial statements for the net operating loss carryforwards
as the likelihood of future tax benefit from such net operating loss carryforwards is not probable.
Accordingly, the potential tax benefits of the net operating loss carryforwards at September 30, 2000
have been offset by valuation reserves of the same amount.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles
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.

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NOTE 2 - Commitments and Contingencies

The Company has an outstanding tax liabilities of approximately $10,000 from Sweetwater County,
Wyoming and $1,500 from Arapahoe County, Colorado.  The Company has also listed several
liabilities from vendors that have been owing since 1994-95 time period when the Company was in
business.  There have been no contact with these vendors for several years and it is doubtful that any
of the liabilities will be paid, due to statute of limitations and other time lapsed considerations.  The
tax liabilities are real and personal property taxes and are due to also expire with the statute of
limitations.  Management estimates that there is a remote possibility that the Company will ever pay
these liabilities and that the taxing agencies or creditor vendors will make contact or press court
collections on the liabilities.

The Company has authorized 1,428 shares of $700 par value convertible preferred stock with various
rights as follows:

outstanding shares are entitled to receive a 5% dividend cumulative from the date of issuance.

outstanding shares are convertible into 100,000 shares of common stock based on a conversion
price formula.

preferences to liquidation before common stockholders.

voting rights based on a conversion calculation into common stock based on the conversion price
formula.

No shares are currently outstanding and as such no preferred dividends are accrued.

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

Liquidity and Capital Resources.  The Registrant has approximately $(189,465) as operating capital at March
31, 2001. The Registrant intends to raise additional funds as needed through private placements with accredited and
sophisticated investors.

Results of Operation.  Due to the lack of operations during the quarter ended March 31, 2001, the registrant
had net loss of $(1,053).

Plan of Operations.  The Company is currently in the process of looking for business opportunities to acquire
or merge with.  There is no guarantee that management will be successful in finding such an opportunity.  The
Company is also in the process of bringing all of its periodic reports current for filing with the Securities and
Exchange Commission. During this process, the Company intends to raise operational capital through private
placements.

**OTHER INFORMATION**

Item 1.                                    
Legal Proceedings.                                       
                                  
None
Item 2.                                    
Changes in Securities.                                      
                              
None
Item 3.                                    
Defaults 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.                                     
         
None

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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 authorized officer.

Habersham Energy Company

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