SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                                 AMENDED FORM 10-QSB
(Mark One)

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

                         For the quarterly period ended
                                 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



                              Search Ventures, Inc.
            --------------------------------------------------------
             (Exact name of registrant as specified in its charter)



     Delaware                                           98-0233224
--------------------------------                   ---------------------
(State or other jurisdiction of                     (I.R.S. Employer
incorporation or organization)                      Identification No.)


                                Colin Watt
           Suite 1360 - 605 Robson Street, Vancouver BC  Canada V6B 5J3
             -------------------------------------------------------
                   (Address of principal executive offices  (zip code))

                               604-684-6535
           -------------------------------------------------------
            (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the last 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


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


             Class                        Outstanding at March 31, 2001

Common Stock, par value $0.001                    1,000,000

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                      PART I -- FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                            SEARCH VENTURES, INC.
                            (A Delaware Corporation)
                          (A Development Stage Company)
                                  Balance Sheet
                                  (U.S. Dollars)

                                         Fiscal Year        6 Months Ended
                                       Ended September 30,   March 31,
                                           2000               2001
                                                             (Unaudited)


ASSETS
CURRENT ASSETS
  Cash and bank                           $        -             $       -
----------------------------------------------------------------------------

INCORPORATION COSTS                            1,017                 1,017
----------------------------------------------------------------------------
TOTAL ASSETS                              $    1,017             $   1,017
============================================================================



LIABILITIES
CURRENT LIABILITIES
  Accounts payable                        $    1,517             $   1,717
----------------------------------------------------------------------------
TOTAL LIABILITIES                              1,517                 1,717
----------------------------------------------------------------------------

SHAREHOLDERS' EQUITY (DEFICIT)

SHARE CAPITAL
AUTHORIZED:
 20,000,000 common shares with a
  par value of $0.001 each
ISSUED AND OUTSTANDING
1,000,000 common shares with a par
  value of $0.001 at March 31,
  2001 and at September 30, 2000               1,000                 1,000
----------------------------------------------------------------------------
                                               1,000                 1,000
Deficit Accumulated During the
  Development stage                           (1,500)               (1,700)
----------------------------------------------------------------------------
                                                (500)                 (700)
----------------------------------------------------------------------------

                                          $    1,017             $   1,017
============================================================================

CONTINUING OPERATIONS (NOTE 1)

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                        SEARCH VENTURES, INC.
                        (A Delaware Corporation)
                      (A development stage company)
                            Statement of Loss
                              (U.S. Dollars)
                                (Unaudited)




                                 3 months     6 months  3 months     6 months
                                 ended        ended     ended        ended
                                 March 31,  March 31,   March 31,  March 31,
                                 2001         2001      2000         2000

Expenses
Legal                            $ 100         $ 200     $ -         $  -
Accounting and audit                -             -        -            -
--------------------------------------------------------------------------------
Net earnings (loss) for
  the period                     $ (100)       $ (200)   $ -         $  -
================================================================================
Basic and diluted loss per share $(0.0001)     $(0.0002) $ (0.000)   $(0.000)
--------------------------------------------------------------------------------
Weighted average shares
  Outstanding                     1,000,000     1,000,000  1,000,000   1,000,000
--------------------------------------------------------------------------------

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                        SEARCH VENTURES, INC.
                        (A Delaware Corporation)
                      (A development stage company)
                         Statement of Cash Flow
                              (U.S. Dollars)
                                (Unaudited)



                                 3 months     6 months  3 months     6 months
                                 ended        ended     ended        ended
                                 March 31,   March 31,  March 31,   March 31,
                                 2001        2001       2000         2000


Cash provided by (used in)

Operations
Net Loss for period              $ (100)    $ (200)     $  -         $ -
-------------------------------------------------------------------------------
                                      -        -           -           -
Net change in non-cash working
   capital balances

Accounts payable                    100       200          -           -
Accrued interest                      -         -          -           -
Convertible Debenture                 -         -          -           -
-------------------------------------------------------------------------------
Net cash used in operating
  activities                          -         -          -           -
-------------------------------------------------------------------------------
Change in cash for period             -         -          -           -

Cash, beginning of period             -         -          -           -
-------------------------------------------------------------------------------
Cash, end of period              $    -     $   -       $  -         $ -
===============================================================================


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                            SEARCH VENTURES, INC.
                            (A Delaware Corporation)
                          (A Development Stage Company)

                          Notes To Financial Statements
                          Period March 31, 2001
                                 (U.S. Dollars)


1.   Continuing operations

     Search Ventures Inc. was incorporated on July 14, 1999 in the state of
     Delaware, U.S.A.

     The Company has negative working capital and a deficit.  The ability for
     the Company to operate as a going concern is dependent upon its ability to
     find an appropriate business venture and to obtain adequate financing to
     reach profitable levels of operations.  It is not possible to predict
     whether the search for a business venture or  financing efforts will be
     successful or if the Company will attain profitable levels of operations.

2.   Summary of significant accounting policies

     These financial statements have been prepared in accordance with generally
     accepted accounting principles in the United States and reflect the
     following significant accounting principles:

     a.  Estimates and assumptions

         The preparation of financial statements in conformity with generally
         accepted accounting principles requires management to make 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 amount of revenues and expenses
         during the reporting period.  Actual results could differ from those
         estimates.

     b.  Earnings (loss) per common share

         In February, 1997, the Financial Accounting Standards Board issued
         Statement No. 128, Earnings Per Share (SFAS 128), which established new
         standards for computing and presenting earnings per share effective for
         fiscal years ending after December 15, 1997.  With SFAS 128, primary
         earnings per share is replaced by basic earnings per share, which is
         computed by dividing income available to common shareholders by the
         weighted average number of shares outstanding for the period.  In
         addition, SFAS 128 requires the presentation of diluted earnings per
         share, which includes the potential dilution that could occur if
         dilutive securities were exercised or converted into common stock.
         The computation of diluted EPS does not assume the conversion or
         exercise of securities if their effect is anti-dilutive.  Common
         equivalent shares consist of the common shares issuable upon the
         conversion of the convertible loan notes and special warrants (using
         the if-converted method) and incremental shares issuable upon the
         exercise of stock options and share purchase warrants ( using the
         treasury stock method).

     c.  Cash and cash equivalents

         Cash and cash equivalents consist of cash on hand, deposits in banks
         and highly liquid investments with an original maturity of three months
         or less.

4.   Income taxes

     The Company has net operating losses which may give rise to future tax
     benefits of approximately $1,700 as of March 31, 2001.  To the extent
     not used, net operating loss carryforwards expire in beginning in the year
     2015.  Income taxes are accounted for in accordance with Statement of
     Financial Accounting Standards No. 109 (SFAS 109).  Under this method,
     deferred income taxes are determined based on differences between the tax
     basis of assets and liabilities and their financial reporting amounts at
     each year end, and are measured based on enacted tax rates and laws that
     will be in effect when the differences are expected to reverse.  Valuation
     allowances are established, when necessary, to reduce deferred tax assets
     to the amount expected to be realized.  No provision for income taxes is
     included in the statement due to its immaterial amount.

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

   The Company has registered its common stock on a Form 10-SB registration
statement filed pursuant to the Securities Exchange Act of 1934 (the
"Exchange Act") and Rule 12(g) thereof.  The Company files with the
Securities and Exchange Commission periodic and episodic reports under Rule
13(a) of the Exchange Act, including quarterly reports on Form 10-QSB and
annual reports Form 10-KSB.  As a reporting company under the Exchange Act,
the Company may register additional securities on Form S-8 (provided that it
is then in compliance with the reporting requirements of the Exchange Act)
and on Form S-3 (provided that is has during the prior 12 month period timely
filed all reports required under the Exchange Act).

   The Company was formed to engage in a merger with or acquisition of an
unidentified foreign or domestic private company which desires to become a
reporting company whose securities have been registered under the Exchange
Act.  The Company may be deemed to meet the definition of a "blank check"
company contained in Section (7)(b)(3) of the Securities Act of 1933, as
amended.

   Management believes that there are perceived benefits to being a reporting
company which may be attractive to foreign and domestic private companies.

   These benefits are commonly thought to include

   (1) the ability to use securities to make acquisition of assets or
       businesses;
   (2) increased visibility in the financial community;
   (3) the facilitation of borrowing from financial institutions;
   (4) improved trading efficiency;
   (5) the potential for shareholder liquidity;
   (6) greater ease in subsequently raising capital;
   (7) compensation of key employees through options for stock
       for which there may be a public market;
   (8) enhanced corporate image; and,
   (9) a presence in the United States capital market.

   A private company which may be interested in a business combination
with the Company may include

   (1) a company for which a primary purpose of becoming a reporting
       company is the use of its securities for the acquisition of
       assets or businesses;
   (2) a company which is unable to find an underwriter of its securities
       or is unable to find an underwriter of securities on terms
       acceptable to it;
   (3) a company which wishes to become a reporting company with less
       dilution of its common stock than would occur normally upon an
       underwriting;
   (4) a company which believes that it will be able obtain
       investment capital on more favorable terms after it has become
       a reporting company;

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   (5) a foreign company which may wish an initial entry into the
       United States securities market;
   (6) a special situation company, such as a company seeking to satisfy
       redemption requirements under a qualified Employee Stock Option
       Plan; and,
   (7) a company seeking one or more of the other benefits believed to
       attach to a reporting company.

   Management is actively engaged in seeking a qualified private company
as a candidate for a business combination.  The Company is authorized to
enter into a definitive agreement with a wide variety of private businesses
without limitation as to their industry or revenues.  It is not possible at
this time  to predict with which private company, if any, the Company will
enter into a definitive agreement or what will be the industry, operating
history, revenues, future prospects or other characteristics of that company.

   As of the date hereof, management has not made any final decision
concerning or entered into any agreements for a business combination.  When
any such agreement is reached or other material fact occurs, the Company will
file notice of such agreement or fact with the Securities and Exchange
Commission on Form 8-K.  Persons reading this Form 10-QSB are advised to see
if the Company has subsequently filed a Form 8-K.

   The Company does not intend to trade its securities in the secondary
market until completion of a business combination.  It is anticipated that
following such occurrence the Company will take the steps required to cause
its common stock to be admitted to quotation on the NASD OTC Bulletin Board
or, if it then meets the financial and other requirements thereof, on the
Nasdaq SmallCap Market, National Market System or regional or national
exchange.


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                         PART II -- OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

   There are no legal proceedings against the Company and the Company is
unaware of such proceedings contemplated against it.

ITEM 2.  CHANGES IN SECURITIES

   Not applicable.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

   Not applicable.

ITEM 4.  SUBMISSION OF MATTERS 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

   Not applicable.

   (b)     Reports on Form 8-K

   There were no reports on Form 8-K filed by the Company during the
quarter.



                                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.

                          SEARCH VENTURES, INC.



                          By:  /s/ Colin Watt
                         ---------------------------------
                           Colin Watt, President

Dated:  January 23, 2002

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