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                               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, 2001

     [  ] 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 7, 2001, there were
1,000,000 shares of the Registrant's Common Stock outstanding.



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                                  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, 2001, and the results of its
operations and changes in its financial position from March 1, 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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                             Saiph Corporation
                       (A Development Stage Company)
                               Balance Sheet
<TABLE>
<CAPTION>
                                                        March 31,   December 31,
                                                          2001          2000
                                                      ------------  ------------
<S>                                                  <C>           <C>
                                                      (Unaudited)
                                  ASSETS
CURRENT ASSETS
--------------

  Cash                                                $       588   $     1,278
                                                      ------------  ------------
  TOTAL ASSETS                                        $       588   $     1,278
                                                      ============  ============

                  LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
-------------------
  Accounts payable                                          1,600          -
  Interest payable                                            900           675
  Note payable - related party (Note 4)                     9,000         9,000
                                                      ------------  ------------
  TOTAL CURRENT LIABILITIES                                11,500         9,675


STOCKHOLDERS' EQUITY
--------------------

  Common Stock 100,000,000 shares
   authorized at $.001 par value;
   1,000,000 shares issued and
   outstanding (Note 6)                                     1,000         1,000
  Capital in Excess of Par Value                            9,000         9,000
  Deficit accumulated during
   development stage                                      (20,912)      (18,397)
                                                      ------------  ------------
  Total Stockholders' Equity                              (10,912)       (8,397)
                                                      ------------  ------------
   TOTAL LIABILITIES AND
   STOCKHOLDERS' EQUITY                               $       588   $     1,278
                                                      ============  ============

</TABLE>

                          See Accompanying Notes

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                             Saiph Corporation
                       (A Development Stage Company)
                          Statement of Operations
                                (Unaudited)

<TABLE>
<CAPTION>
                                               For the     For the      From
                                                Three       Three       March
                                                Months      Months     1, 2000
                                                Ended       Ended    (inception)
                                                March       March      to March
                                              31, 2001    31, 2000    31, 2001
                                            ----------- -----------  -----------
<S>                                        <C>         <C>          <C>
REVENUE                                     $     -     $     -      $     -
-------

EXPENSES
--------
  General and Administrative                $    2,290  $     -      $   20,012
  Interest Expense                                 225        -             900
                                            ----------- -----------  -----------
     Total Expenses                              2,515        -          20,912

NET INCOME (LOSS) - Before Taxes            $   (2,515) $     -      $  (20,912)

  Taxes (Note 2)                                  -           -            -
                                            ----------- -----------  -----------
INCOME (LOSS)                               $   (2,515) $     -      $  (20,912)
                                            =========== ===========  ===========

Loss Per Common Share (Note 1)                    -           -

Average Outstanding Shares
 (Note 1)                                    1,000,000        -
                                            =========== ===========

</TABLE>

                          See Accompanying Notes


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                             Saiph Corporation
                       (A Development Stage Company)
                         Statements of Cash Flows
                                (Unaudited)
<TABLE><CAPTION>
                                               For the     For the      From
                                                Three       Three       March
                                                Months      Months     1, 2000
                                                Ended       Ended    (inception)
                                                March       March      to March
                                              31, 2001    31, 2000    31, 2001
                                            ----------- -----------  -----------
<S>                                        <C>         <C>          <C>
CASH FLOWS FROM OPERATING ACTIVITIES
------------------------------------
  Net Income (Loss)                         $   (2,515) $     -      $  (20,912)
  Increase (Decrease) in
   Accounts Payable/Interest Payable             1,825        -           2,500
   Expenses paid by Stock Issuance                -           -           2,500
                                            ----------- -----------  -----------
     Net Cash (Used) by
     Operating Activities                         (690)       -         (15,912)

CASH FLOWS FROM INVESTING ACTIVITIES              -           -            -
------------------------------------        ----------- -----------  -----------

CASH FLOWS FROM FINANCING ACTIVITIES
------------------------------------
  Issuance of Common Stock for Cash               -           -           7,500
  Issuance of Note Payable for Cash               -           -           9,000
                                            ----------- -----------  -----------
     Net Cash Provided by
     Financing Activities                         -           -          16,500

     INCREASE (DECREASE) IN
     CASH AND CASH EQUIVALENTS                    (690)       -             588

     CASH AND CASH EQUIVALENTS
     AT THE BEGINNING OF PERIOD                  1,278        -            -
                                            ----------- -----------  -----------
     CASH AND CASH EQUIVALENTS
     AT END OF PERIOD                       $      588  $     -      $      588
                                            =========== ===========  ===========
Supplemental Cash Disclosure
-----------------------------
   Interest                                 $     -     $     -      $     -
   Income Taxes                                   -           -            -

</TABLE>
                        See Accompanying Notes

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                          Saiph Corporation
                    (A Development Stage Company)
                  Notes to the Financial Statements
                            March 31, 2001

NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES

     Organization and Business
     -------------------------
     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.

     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.

NOTE 2 -INCOME TAXES

     The Company adopted Statement of Financial Standards No. 109
"Accounting for Income taxes" in the fiscal year ended December 31,
2000.

     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.

     Since the Company has not completed a complete year of
operations, there is not an established net operating loss.  Any net
operating loss (if generated by the end of the year) will not expire
until 2020.

NOTE 3 - 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.


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                          Saiph Corporation
                    (A Development Stage Company)
                  Notes to the Financial Statements
                            March 31, 2001

NOTE 4 - 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 note carries an
interest rate of 10% per annum to begin accruing on the date of the
note.  The principal and interest of the note shall be due and payable
on March 27, 2002.  The note is unsecured.


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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 as
capital contributions for stock of the Company and Mezzanine Capital
Ltd. loaned $9,000 to the Company 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.


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                              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 15, 2001              By /s/  Eric Chess Bronk, President
                                and Principal Financial and
                                Accounting Officer