UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549

                                Form 10-QSB

(Mark One)
     [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

     For the quarter ended March 31, 2002

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

     For the transition period from ________ to __________

          Commission File Number: 0-30874

                             SAIPH CORPORATION
            (Exact name of Registrant as specified in charter)

NEVADA                                  33-0916900
State or other jurisdiction of          I.R.S. Employer I.D. No.
incorporation or organization

1516 BROOKHOLLOW DRIVE, SUITE D, SANTA ANA, CA    92705
(Address of principal executive offices)          (Zip Code)

Issuer's telephone number, including area code:  (714) 430-9209

Check whether the Issuer (1) has 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 fling requirements for the past 90 days.
(1) Yes [X]  No [ ]   (2) Yes [X]  No [ ]

State the number of shares outstanding of each of the Issuer's classes of
common equity as of the latest practicable date:  At May 14, 2002, there were
1,000,000 shares of the Registrant's Common Stock outstanding.

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Page 2
                                  PART I

                       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, 2002, and the results of its
operations and changes in its financial position from March 1, 2000, through
March 31, 2002, have been made.  The results of its operations for such
interim period are not necessarily indicative of the results to be expected
for the entire year.  These condensed financial statements should be read in
conjunction with the financial statements and notes thereto included in the
Company's annual report on Form 10-KSB for the year ended December 31, 2001.

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Page 3
                            Saiph Corporation
                      (A Development Stage Company)
                              Balance Sheet
<TABLE>
<CAPTION>
                                                     March 31,      December 31,
                                                       2002            2001
                                                    -----------     -----------
                                                    (Unaudited)
<S>                                                 <C>             <C>
                                  Assets
Current Assets

   Cash                                             $       857     $     1,372
   Interest Receivable                                       50              19
   Note Receivable - Related Party                        1,250           1,250
                                                     ----------      ----------
     Total Assets                                   $     2,157     $     2,641
                                                     ==========      ==========


                  Liabilities and Stockholders' Equity

Current Liabilities

   Accounts Payable                                 $     2,347     $       250
   Interest Payable                                       2,506           2,068
   Note Payable - Related Party                          17,500          17,500
                                                     ----------      ----------
     Total Current Liabilities                           22,353          19,818

Stockholders' Equity

   Common Stock, 100,000,000 Shares
    Authorized at $.001 Par Value;
    1,000,000 Shares Issued and Outstanding               1,000           1,000
   Additional Paid In Capital                             9,000           9,000
   Deficit Accumulated in the Development Stage         (30,196)        (27,177)
                                                     ----------      ----------
     Total Stockholders' Equity                         (20,196)        (17,177)
                                                     ----------      ----------
     Total Liabilities and Stockholders' Equity     $     2,157     $     2,641
                                                     ==========      ==========
</TABLE>
                See accompanying notes to financial statements.
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Page 4
                                 Saiph Corporation
                           (A Development Stage Company)
                              Statement of Operations
                                    (Unaudited)
<TABLE>
<CAPTION>
                                                                     For the Period
                                                                     March 1, 2000
                                      For the Three Months Ended      (Inception)
                                       March 31,       March 31,      to March 31,
                                         2002            2001            2002
                                      -----------     -----------     -----------
<S>                                   <C>             <C>             <C>
Revenue                               $       -       $       -       $       -
                                       ----------      ----------      ----------
Expenses

   General and Administrative               2,612           2,290          27,740
                                       ----------      ----------      ----------
     Total Expenses                         2,612           2,290          27,740
                                       ----------      ----------      ----------
     Net Income (Loss)
     from Operations                       (2,612)         (2,290)        (27,740)

Other Income (Expenses)

   Interest Expense                          (438)           (225)         (2,506)
   Interest Income                             31             -                50
                                       ----------      ----------      ----------
     Total Other Income (Expenses)           (407)           (225)         (2,456)

     Taxes                                    -               -               -
                                       ----------      ----------      ----------
     Net (Loss)                       $    (3,019)    $    (2,515)    $   (30,196)
                                       ==========      ==========      ==========

     Loss Per Common Share            $       -       $       -

     Weighted Average
     Outstanding Shares                 1,000,000       1,000,000
</TABLE>
                  See accompanying notes to financial statements.
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Page 5
                                  Saiph Corporation
                            (A Development Stage Company)
                               Statement of Cash Flows
                                     (Unaudited)
<TABLE>
<CAPTION>
                                                                       For the Period
                                                                       March 1, 2000
                                          For the Three Months Ended    (Inception)
                                           March 31,      March 31,     to March 31,
                                             2002           2001           2002
                                          -----------    -----------    -----------
<S>                                       <C>            <C>            <C>
Cash Flows from Operating Activities

   Net Income (Loss)                      $   (3,019)    $   (2,515)    $  (30,196)
   (Increase) Decrease in:
     Interest Receivable                         (31)           -              (50)
   Increase (Decrease) in:
     Accounts Payable/Interest Payable         2,535          1,825          4,853
     Expenses Paid by Stock Issuance             -              -            2,500
                                           ---------      ---------      ---------
       Net Cash Provided (Used) by
       Operating Activities                     (515)          (690)       (22,893)

Cash Flows From Investing Activities

   Proceeds from Related Party Note              -              -           (1,250)
                                           ---------      ---------      ---------
       Net Cash Provided (Used) by
       Investing Activities                      -              -           (1,250)

Cash Flows from Financing Activities

   Issuance of Common Stock for Cash             -              -           17,500
   Issuance of Note Payable for Cash             -              -            7,500
                                           ---------      ---------      ---------
       Net Cash Provided (Used) by
       Financing Activities                      -              -           25,000
                                           ---------      ---------      ---------
       Increase (Decrease) in Cash              (515)          (690)           857

       Cash, Beginning of Period               1,372          1,278            -
                                           ---------      ---------      ---------
       Cash, End of Period                $      857     $      588     $      857
                                           =========      =========      =========

Supplemental Cash Flow Information
   Interest                               $      -       $      -       $      -
   Income Taxes                                  -              -              -
</TABLE>
                  See accompanying notes to financial statements.
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Page 6
                            Saiph Corporation
                       (A Development Stage Company)
                     Notes to the Financial Statements
                              March 31, 2002

NOTE 1 - CORPORATE HISTORY

     Saiph Corporation (the "Company") was incorporated in Nevada on March
     1, 2000, as Saiph Corporation for the purpose of seeking and
     consummating a merger or acquisition with a business entity organized as
     a private corporation, partnership, or sole proprietorship.

     The Company has yet to fully develop any material income from its stated
     primary objective and it is classified as a development stage company.
     All income, expenses, cash flows and stock transactions are reported
     since the beginning of development stage.

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

     Cash and Cash Equivalents The Company considers all highly liquid
     investments with maturities of three months or less to be cash
     equivalents.  All cash is currently held in trust by the Company's
     attorney.

     Earnings (Loss) Per Share The computation of earnings per share of
     common stock is based on the weighted average number of shares
     outstanding at the date of the financial statements.

     Use of Estimates in the Preparation of Financial Statements  The
     preparation of financial statements in conformity with generally
     accepted accounting principles requires management to make estimates and
     assumptions that affect reported amounts of assets and liabilities,
     disclosure of contingent assets and liabilities at the date of the
     financial statements and revenues and expenses during the reporting
     period.  In these financial statements, assets, liabilities and earnings
     involve extensive reliance on management's estimates.  Actual results
     could differ from those estimates.

NOTE 3 - INCOME TAXES

     The Company adopted Statement of Financial Accounting Standards No. 109
     "Accounting for Income Taxes" in the fiscal year ended December 31, 2000
     and has applied the provisions of the statement to the current year
     which resulted in no significant adjustment.

     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.

     Deferred income taxes result from temporary differences in the
     recognition of accounting transactions for tax and financial reporting
     purposes.  There were no temporary differences at March 31, 2002 and
     earlier years; accordingly, no deferred tax liabilities have been
     recognized for all years.

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Page 7
                             Saiph Corporation
                       (A Development Stage Company)
                     Notes to the Financial Statements
                              March 31, 2002

NOTE 3 - INCOME TAXES continued

     The Company has cumulative net operating loss carryforwards over $27,000
     at March 31, 2002.  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 presently
     determinable.  Accordingly, the potential tax benefits of the net
     operating loss carryforwards, estimated based upon current tax rates at
     March 31, 2002 have been offset by valuation reserves in the same
     amount.  The net operating losses begin to expire in 2019.

NOTE 4 - NOTE RECEIVABLE - RELATED PARTY

     During the year, the Company loaned $750 and $500 to separate
     corporations whose president is a shareholder of the Company.  The
     receivables are unsecured and are bearing interest at the rate of 10%
     per annum.  The note receivables are due on demand.  At year end, the
     total accrued interest receivable amounts total $12 and $7 respectively.

NOTE 5 - NOTE PAYABLE- RELATED PARTY

     The Company issued a promissory note in the amount of $9,000 to
     Mezzanine Capital Ltd. on March 27, 2000.  The unsecured note carries an
     interest rate of 10% per annum to begin accruing on the date of the
     note.  As of March 31, 2002 the accrued interest balance is $1,800.

     During the year, the board of directors approved to issue two promissory
     notes in the amount of $3,500 and $5,000.  The unsecured notes bear
     interest at the rate of 12% and 10% respectively and are due on demand.
     At March 31, 2002 accrued interest on the notes totaled $369 and $335
     respectively.

NOTE 6 - GOING CONCERN

     The Company's financial statements are prepared using generally accepted
     accounting principles applicable to a going concern which contemplates
     the realization of assets and liquidation of liabilities in the normal
     course of business.  Currently, the Company does not have significant
     cash or other material assets, nor does it have an established source of
     revenues sufficient to cover its operating costs and to allow it to
     continue as a going concern.

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Page 8
             ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR
                             PLAN OF OPERATION

     The Company is a development stage company.  Since its inception, the
Company has had no operations.  The Company was organized for the purpose of
engaging in any lawful activity permitted under Nevada state law; however,
the Company does not have any significant cash or other material assets, nor
does it have an established source of revenues sufficient to cover operating
costs and to allow it to continue as a going concern.  The Company intends to
take advantage of any reasonable business proposal presented which management
believes will provide the Company and its stockholders with a viable business
opportunity.  The board of directors will make the final approval in
determining whether to complete any acquisition, but will submit the proposal
to the shareholders for final approval.

     The original shareholders contributed a total of $7,500 in cash and
$2,500 in services as capital contributions for stock of the Company.
Mezzanine Capital Ltd., an entity of which Eric C. Bronk, the sole director
and an executive officer of the Company, is an executive officer and
director, loaned $9,000 to the Company at its inception for operating
expenses.

     The investigation of specific business opportunities and the
negotiation, drafting, and execution of relevant agreements, disclosure
documents, and other instruments will require substantial management time and
attention and will require the Company to incur costs for payment of
accountants, attorneys, and others.  If a decision is made not to participate
in or complete the acquisition of a specific business opportunity, the costs
incurred in a related investigation will not be recoverable.  Further, even
if an agreement is reached for the participation in a specific business
opportunity by way of investment or otherwise, the failure to consummate the
particular transaction may result in a the loss to the Company of all related
costs incurred.

     Currently, management is not able to determine the time or resources
that will be necessary to locate and acquire or merge with a business
prospect.  There is no assurance that the Company will be able to acquire an
interest in any such prospects, products, or opportunities that may exist or
that any activity of the Company, regardless of the completion of any
transaction, will be profitable.  If and when the Company locates a business
opportunity, management of the Company will give consideration to the dollar
amount of that entity's profitable operations and the adequacy of its working
capital in determining the terms and conditions under which the Company would
consummate such an acquisition.  Potential business opportunities, no matter
which form they may take, will most likely result in substantial dilution for
the Company's shareholders due to the likely issuance of stock to acquire
such an opportunity.

                                  PART II

                       ITEM 6.  REPORTS ON FORM 8-K

     (b)  Reports on Form 8-K:  No reports on Form 8-K were filed during the
first quarter of the fiscal year ending December 31, 2002.

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Page 9
                                SIGNATURES

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

                                   Saiph Corporation

Date: May 16, 2002                 By: /s/ Eric Chess Bronk
                                   Eric Chess Bronk, President and Principal
                                   Financial and Accounting Officer