<PAGE>
                      SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                                FORM 10-QSB

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

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

                     For the quarter ended: June 30, 2001

                       Commission file number 000-32845


                        Cobra Financial Services, Inc.
            (Exact name of registrant as specified in its charter)

               Texas                                       75-2668876
            ------------                               -----------------
    (State or other jurisdiction of                   (I.R.S. Employer
    incorporation or organization)                    Identification No.)

           3020 Legacy Drive, Suite 100
                Plano Texas 75023                       75023
          -----------------------------           -----------------
     (Address of principal executive offices)         (zip code)

                  Issuer's Telephone Number:    214.726.9306

        Securities registered under Section 12(b) of the Exchange Act:
                                     None

        Securities registered under Section 12(g) of the Exchange Act:
                        Common Stock, $.001 par value
                              (Title if Class)

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.

    As of June 30, 2001, there were 15,630,000 shares of common stock
outstanding.



ITEM 1. FINANCIAL STATEMENTS

<PAGE>
<TABLE>
                         Cobra Financial Services Inc.
                                 Balance Sheets
                                  (Unaudited)
<CAPTION>

                                                       June 30     December 31
                                                         2001         2000
                                                      __________   __________
<S>                                                   <C>          <C>
                                  A S S E T S
                                 _____________


Current Assets:
---------------
Cash                                                  $      112   $      421
                                                      __________   __________
          Total Current Assets                               112          421

Fixed Assets:
-------------
Farm Equipment                                            89,612       89,612
Buildings                                                 26,653       26,653
Leasehold Improvements                                    52,746       52,746
Accumulated Depreciation                                 (24,058)     (16,664)
                                                      __________   __________
        Total Fixed Assets                               144,953      152,347

                                                      __________   __________
        Total Assets                                  $  145,065   $  152,768
                                                      ==========   ==========


    L I A B I L I T I E S   A N D   S T O C K H O L D E R S '   E Q U I T Y
   _________________________________________________________________________

Current Liabilities
-------------------
Accrued Expenses                                      $    6,000   $       -
Deferred Income Tax Payable                                6,009       11,262
Note Payable - Related Party                              28,474       26,725
                                                      __________   __________
        Total Current Liabilities                         40,483       37,987

Commitments and Contigencies                                  -            -
----------------------------

Stockholders' Equity
--------------------
Preferred Stock,  $.001 par value,  20,000,000 shares         -            -
     authorized;  none issued and outstanding
Common stock,  $.001 par value,  100,000,000 shares       15,630       15,630
     authorized;  15,630,000 shares issued and
     outstanding
Additional paid-in capital                                14,330       14,330
Accumulated surplus                                       74,623       84,821
                                                      __________   __________

        Total Stockholders' Equity                       104,583      114,781
                                                      __________   __________

        Total Liabilities and Stockholders'  Equity   $  145,065   $  152,768
                                                      ==========   ==========

</TABLE>


               See accompanying notes to Financial Statements.

                                      2
<PAGE>
<TABLE>
                         Cobra Financial Services Inc.
                           Statements of Operations
                                  (Unaudited)
<CAPTION>

                                                 Three Months Ended        Six Months Ended
                                                      June 30,                  June 30,
                                              _______________________   _______________________
                                                 2001         2000         2001         2000
                                              __________   __________   __________   __________
<S>                                           <C>          <C>          <C>          <C>
Revenues:
     Revenue                                  $    3,300   $   11,500   $   20,867   $  539,585
                                              __________   __________   __________   __________
          Total revenues                           3,300       11,500       20,867      539,585

Operating Expenses:
     Consulting Expenses                              -        13,493           -        91,359
     Officer Salary and Expenses                   17,000          -        17,000      314,358
     Professional Fees                             1,200        7,700        1,200       45,250
     Vehicle Expenses                                 -         6,239          847       13,047
     Lease Expenses                                   -         6,091        6,000       12,182
     Depreciation                                  3,697        3,367        7,394        6,734
     General and Administrative                    2,560       14,420        3,878       24,315
                                              __________   __________   __________   __________
                                                  24,457       51,310       36,319      507,245
                                              __________   __________   __________   __________
          Income (Loss) from operations          (21,157)     (39,810)     (15,452)      32,340
                                              __________   __________   __________   __________
Provision for Income Taxes:
     Income Tax Benefit (Expense)                  7,193       13,535        5,254      (10,996)


          Net Income (Loss)                   $  (13,964)  $  (26,275)  $ (10,198)  $   21,344
                                              ==========   ==========   ==========   ==========
Loss per common share:

          From operations                     $    (0.00)  $    (0.00)  $   (0.00)  $     0.00
                                              __________   __________   __________   __________

Weighted average common shares outstanding    15,630,000   14,880,000   15,630,000   14,880,000
                                              ==========   ==========   ==========   ==========
          Retroactively Restated

</TABLE>


               See accompanying notes to Financial Statements.

                                      3
<PAGE>
<TABLE>
                         Cobra Financial Services Inc.
                           Statements of Cash Flows
                                  (Unaudited)
<CAPTION>

                                                               Six Months Ended
                                                                   June 30,
                                                            _______________________
                                                               2001         2000
                                                            __________   __________
<S>                                                         <C>          <C>

Cash Flows from Operating Activities:
Net Income                                                  $  (10,198)  $   21,344


Adjustments to Reconcile net loss to net cash
     provided by (used in) operating activities:
               Depreciation                                      7,392        6,734
          Changes in operating assets and liabilities:
               Accrued Expenses                                  6,000           -
               Deferred Income Tax Payable                      (5,253)      20,141
                                                            __________   __________
Net Cash provided by (used in) Operating Activities         $   (2,059)  $   48,219

Cash Flows from Investing Activities:
          Fixed Assets                                              -       (85,581)
                                                            __________   __________
Net Cash provided by (used in) Investing Activities         $       -    $  (85,581)

Cash Flows from Financing Activities:
          Issuance of common stock                                  -            -
          Proceeds from financing                                   -        25,000
          Advances from officer                                  1,750           -
                                                            __________   __________
Net Cash provided by (used in) Financing Activities         $    1,750   $   25,000

Net Increase (Decrease) in cash and cash equivalents              (309)     (12,362)

Cash at beginning of period                                 $      421   $   26,778
                                                            ==========   ==========
Cash at end of period                                       $      112   $   14,416
                                                            ==========   ==========
Supplemental disclosure:
          Total interest paid                               $       -    $       -
                                                            ==========   ==========

</TABLE>


               See accompanying notes to Financial Statements.

                                      5
<PAGE>
                         Cobra Financial Services Inc.
                         Notes to Financial Statements



NOTE 1- BASIS OF PRESENTATION
______________________________

General
-------
The unaudited interim financial statements of the Cobra Financial Services,
Inc. ("Company") as of June 30, 2001 and for the three and six months ended
June 30, 2001, included herein have been prepared in accordance with the
instructions for Form 10QSB under the Securities Exchange Act of 1934, as
amended, and Article 10 of Regulation S-X under the Securities Act of 1933, as
amended. The December 31, 2000 Balance Sheet was derived from audited
financial statements, but does not include all disclosures required by
generally accepted accounting principles. Certain information and note
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 relating to interim consolidated
financial statements.

In the opinion of management, the accompanying unaudited interim financial
statements reflect all adjustments, consisting only of normal recurring
adjustments, necessary to present fairly the financial position of the Company
at June 30, 2001, and the results of their operations for the three and six
months ended June 30, 2001 and 2000, and their cash flows for the three and
six  months ended June 30, 2001 and 2000.

The results of operations for such periods are not necessarily indicative of
results expected for the full year or for any future period. These financial
statements should be read in conjunction with the audited consolidated
financial statements as of December 31, 2000, and for the two years then ended
December 31, 2000 and 1999 and related notes included in the Company's Form
10-SB filed with the Securities and Exchange Commission

Organization
------------
Cobra Financial Services Inc. ("the Company") was incorporated under the laws
of the State of Texas on September 16, 1996  for the purpose to promote and
carry on any lawful business for which a corporation may be incorporated under
the laws of the State of Texas. The company has a total of 100,000,000
authorized shares with a par value of $.001 per share and with 15,630,000
shares issued and outstanding as of June 30, 2001. On May 10, 2000, an
amendment to the Articles of Incorporation was filed with the Texas Secretary
of State to increase the authorized common share to 100,000,000, authorized
20,000,000 in preferred stock, and change the par value to $.001 for both
classes of stock.

Note 2  -  Summary of Significant Accounting Policies
______________________________________________________

Revenue
-------
Revenue consists of consulting fees relating to services performed by the
Company. The Company records revenue based on the accrual method of
accounting.

During 2000, the Company adopted the U.S. Securities and Exchange Commission's
("SEC") Staff Accounting Bulletin 101, "Revenue Recognition" ("SAB 101"),
which provides guidance on the recognition, presentation, and disclosure of
revenue in financial statements filed with the SEC. The adoption of SAB 101
did not have a material effect on the Company's business, financial condition,
results of operations or cash flows.

                                      6
<PAGE>
Fixed Assets
------------
Fixed assets are stated at cost. Depreciation and amortization using the
straight-line method for financial reporting purposes and accelerated methods
for income tax purposes.

     The estimated useful lives are as follows:

                    Farm Equipment                7 years
                    Leasehold Improvements       25 years
                    Buildings                    40 years

Depreciation expense for the years ended December 31, 2000 and June 30, 2001
was $12,664 and $7,394, respectively.

Federal Income Tax
------------------
The Company has adopted the provisions of Financial Accounting Standards Board
Statement No. 109, Accounting for Income Taxes. The Company accounts for
income taxes pursuant to the provisions of the Financial Accounting Standards
Board Statement No.  109, "Accounting for Income Taxes", which requires an
asset and liability approach to calculating deferred income taxes.  The asset
and liability approach requires the recognition of deferred tax liabilities
and assets for the expected future tax consequences of temporary differences
between the carrying amounts and the tax basis of assets and liabilities.

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 on
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.

Accounting Method
-----------------
The Company's financial statements are prepared using the accrual method of
accounting. Revenues are recognized when earned and expenses when incurred.
Fixed assets are stated at cost. Depreciation and amortization using the
straight-line method for financial reporting purposes and accelerated methods
for income tax purposes.

Earnings per Common Share
-------------------------
The Company adopted Financial Accounting Standards  (SFAS) No.  128,
"Earnings Per Share," which simplifies the computation of earnings per share
requiring the restatement of all prior periods.
Basic earnings per share are computed on the basis of the weighted average
number of common shares outstanding during each year.

Diluted earnings per share are computed on the basis of the weighted average
number of common shares and dilutive securities outstanding.  Dilutive
securities having an anti-dilutive effect on diluted earnings per share are
excluded from the calculation.

Fair Value Of Financial Instruments
-----------------------------------
The carrying value of financial instruments including marketable securities,
notes and loans receivables, accounts payable and notes payable approximate
their fair values at June 30, 2001.

                                      7
<PAGE>
Long-Lived Assets
-----------------
Statement of Financial Accounting Standards No. 121 "Accounting for Impairment
of Long-Lived Assets to be Disposed of " requires, among other things,
impairment loss of assets to be held and gains or losses from assets that are
expected to be disposed of be included as a component of income from
continuing operations before taxes on income.

Comprehensive Income
--------------------
Statement of Financial Accounting Standards (SFAS) No. 130, "Reporting
Comprehensive Income," establishes standards for reporting and display of
comprehensive income, its components and accumulated balances.  Comprehensive
income is defined to include all changes in equity except those resulting from
investments by owners and distributions to owners.  Among other disclosures,
SFAS No.130 requires that all items that are required to be recognized under
current accounting standards as components of comprehensive income be reported
in a financial statement that is displayed with the same prominence as other
financial statements. The Company does not have any assets requiring
disclosure of comprehensive income.

Segments of an Enterprise and Related Information
-------------------------------------------------
Statement of Financial Accounting Standards (SFAS) No. 131, Disclosures about
Segments of an Enterprise and Related Information, supersedes SFAS No. 14,
"Financial Reporting for Segments of a Business Enterprise." SFAS 131
establishes standards for the way that public companies report information
about operating segments in annual financial statements and requires reporting
of selected information about operating segments in interim financial
statements issued to the public.  It also establishes standards for
disclosures regarding products and services, geographic areas and major
customers.  SFAS 131 defines operating segments as components of a company
about which separate financial information is available that is evaluated
regularly by the chief operating decision maker in deciding how to allocate
resources and in assessing performance. The Company has evaluated this SFAS
and does not believe it is applicable at this time.

Recent Accounting Pronouncements
--------------------------------

In June 1998, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standards No. 133, "Accounting for Derivative Investments
and Hedging Activities" ("SFAS No 133") which establishes accounting and
reporting standards requiring that every derivative instrument be recorded in
the balance sheet as either an asset or liability measured at its fair value.
The statement also requires that changes in the derivative's fair value be
recognized in earnings unless specific hedge accounting criteria are met. SFAS
No. 133, as extended by SFAS No. 137 and amended by SFAS No. 138, is effective
for all fiscal quarters beginning after June 15, 2000.  The Company does not
expect adoption of SFAS No. 133 to have an effect on its financial statements.

In December 1999, the Securities and Exchange Commission issues Staff
Accounting Bulletin No. 101, "Revenue Recognition in Financial Statements"
(SAB 101, which provides guidance on the recognition, presentation and
disclosure of revenue in financial statements of all public registrants. The
provisions of SAB 101 are effective for transactions beginning in fiscal year
after September 30, 2000. The Company does not expect adoption of SAB 101 to
have an effect on its financial statements.

                                      8
<PAGE>
Note 3  -  Common Stock
________________________

In May of 2000, the Company approved a 4000 to 1 forward split of the
outstanding common stock. At the time of the forward split there were a total
of 1,240 shares outstanding. The financial statements areshowing the shares
retroactively restated.

In July of  2000, the Company completed a public offering that was offered
without registration under the Securities Act of 1933, as amended (the "Act"),
in reliance upon the exemption afforded be sections 4 (2) and 3(b) of the Act
and Regulation D, Rule 506 promulgated there under. The Company sold  250,000
shares of common stock at a price of $.10 per share for a total amount raised
of $25,000.

Note 4  -  Related Parties
___________________________

Officer Salary and Expenses - Carlton Fleming received salary and expenses in
the amount of $343,072 and $44,678 for the years ended December 31, 2000 and
1999, respectively.

Also, Carlton Fleming advanced the Company a total of $28,475 that is recorded
as Note Payable - Related Party.

The company neither owns nor leases any real property. An officer of the
corporation provides office services without charge. Such costs are immaterial
to the financial statements and accordingly, have not been reflected therein.
The officers and directors of the Company are involved in other business
activities and may in the future become involved in other business
opportunities. If a specific business opportunity becomes available, such
persons may face a conflict in selecting between the Company and their other
business interests. The Company has not formulated a policy for the resolution
of such conflicts


Note 5 - Organization Costs
____________________________

The Company has incurred legal, accounting and other formation costs. During
the years ended December 31, 2000 and 1999, these costs were charged to
operations in accordance with the American Institute of Certified Public
Accountants' Statement of Position 98-5 (SOP 98-5), "Reporting on the Costs of
Start-up Activities". It requires most start-up activities to be expenses to
operations as incurred.

Note 6 - Income Taxes
______________________

Deferred income taxes arise from temporary differences resulting from the
Company's subsidiary utilizing the cash basis of accounting for tax purposes
and the accrual basis for financial reporting purposes.  Deferred taxes are
classified as current or non-current, depending on the classification of the
assets and liabilities to which they relate.  Deferred taxes arising from
timing differences that are not related to an asset or liability are
classified as current or non-current depending on the periods in which the
timing differences are expected to reverse. The Company's previous principal
temporary differences relate to revenue and expenses accrued for financial
purposes, which are not taxable for financial reporting purposes.

Note 7  -  Subsequent Events
_____________________________

There were no other material subsequent events that have occurred since the
balance sheet date that warrants disclosure in these financial statements.

                                      9
<PAGE>
ITEM  2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATIONS

The  Company  is in the process of registering its common stock on a Form
10-SB  registration statement  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), and
its class of  common stock  registered under the Exchange Act may be traded in
the  United  States securities  markets  provided that the Company is  then
in  compliance  with applicable  laws,  rules  and  regulations,  including
compliance  with  its reporting requirements under the Exchange Act.


Plan of operation for the next twelve months.  In July of  2000, we an
offering of our securities that was offered without registration under the
Securities Act of 1933, as amended (the "Act"), in reliance upon the exemption
afforded be sections 4 (2) and 3(b) of the Act and Regulation D, Rule 506
promulgated there under. We sold  250,000 shares of our common stock at a
price of $.10 per share for a total amount raised  of $25,000.

Over the next twelve months our focus will be on:

  o  Locating and negotiating purchase agreements with local vendors and meat
     packing plants for the purpose of guarantying a supply commitment to
     meet the initial export requirements. o Securing export contracts by
     finalizing negotiation and signing agreements with overseas buyers.

  o  Hiring and training of staff to effectively and efficiently support the
     company function and operation activity.

  o  Develop an internal control system and implement an information system.

Given the company's limited financial resources, the company will have to rely
on sales of it's securities and possible loans from directors and government
subsidies. The company intends to apply for a SBA loan under the International
trade Program. However, the company has not submitted an application for an
SBA loan as of the date of this filing.

Results of Operations

We have not engaged in  any farming operations to date. Our only revenues have
been derived from consulting income received while building our business plan.
We received revenues for the quarter ending June 30, 2001 of $3,300 versus the
same period of 2000 of $11,500. The primary reason for the decrease over the
prior year quarter was due to the decrease in consulting performed by the
president of the company.

We realized net income (loss) of ($10,198) for the six months ending June 30,
versus  net income (loss) of  $21,344 for the six months ending June 30, 2000.

Capital Resources And Liquidity

As of June 30, 2001 our total cash available was $112. Our total assets were
$145,065.

In the fiscal year 2000, we issued 250,000 shares of our common stock for
$25,000 to 3  shareholders in a private placement of our common stock under
Regulation D Rule 506 of the 1933 Securities and Act which we believe is
exempt from registration in accordance with the provisions of Section 4(2).
Aside from these monies raised the we are dependent on the resources of  our
President Carlton Fleming. We anticipate that the copmany's president will
assist in funding operation because of his equity holding in the company.

                                     10
<PAGE>
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

Exhibits

There were no exhibits filed by the Company during the quarter.

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 Section 13 or 15(d) of the  Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.


                              Cobra Financial Services, Inc.

                              By: /S/ CARLTON W. FLEMING
                                   Carlton W. Fleming, President

Dated:    August 17, 2001


                                     11