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

                                Form 10-QSB/A-1

(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, 2003

     [ ]  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

                            SAIPHT 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

170 NEWPORT CENTER DRIVE, SUITE 220, NEWPORT BEACH, CA      92660
(Address of principal executive offices)                    (Zip Code)

Issuer's telephone number, including area code:  (949) 644-0095

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 June 17, 2003, there
were 3,060,000 shares of the Registrant's Common Stock outstanding.

<PAGE>

                                  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, 2003, and the results of its
operations and changes in its financial position from March 1, 2000,
through March 31, 2003, 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, 2002.

                                    2
<PAGE>
                       SaiphT Corporation
                 (A Development Stage Company)
                         Balance Sheet

                                                    March 31,     December 31,
                                                      2003           2002
                                                   -----------    -----------
                                                   (Unaudited)
                              Assets
Current Assets

  Cash                                             $    1,110     $      -
  Interest Receivable                                     175            144
  Note Receivable - Related Party                       1,250          1,250
                                                    ---------      ---------
    Total Current Assets                                2,535          1,394

Property & Equipment

  Software                                                100            -
                                                    ---------      ---------
     Total Property & Equipment                           100            -
                                                    ---------      ---------
     Total Assets                                  $    2,635     $    1,394
                                                    =========      =========


              Liabilities and Stockholders' Equity

Current Liabilities

  Accounts Payable                                 $    1,510     $    1,220
  Interest Payable                                      4,443          3,988
  Note Payable - Related Party                         23,087         23,087
                                                    ---------      ---------
     Total Current Liabilities                         29,040         28,295

Stockholders' Equity

  Common Stock, 100,000,000 Shares
    Authorized at $.001 Par Value;
    1,490,000 and 1,000,000 Shares
    Issued and Outstanding Respectively                 1,490          1,000
  Additional Paid In Capital                            9,090          9,000
  Deficit Accumulated in the Development Stage        (36,985)       (36,901)
                                                    ---------      ---------
     Total Stockholders' Equity                       (26,405)       (26,901)
                                                    ---------      ---------
     Total Liabilities and Stockholders' Equity    $    2,635     $    1,394
                                                    =========      =========

         See accompanying notes to financial statements.

                                3
<PAGE>

                       SaiphT Corporation
                 (A Development Stage Company)
                    Statement of Operations
                          (Unaudited)
<TABLE>
<CAPTION>
                                                                    For the Period
                                                                    March 1, 2000
                                      For the Three Months Ended     (Inception)
                                        March          March          to March
                                       31, 2003       31, 2002        31, 2003
                                      -----------    -----------     -----------
<S>                                   <C>            <C>             <C>
Revenue
  Website Development                 $    3,500     $      -        $    3,500
  Website Hosting                            300            -               300
                                       ---------      ---------       ---------
     Total Revenue                         3,800            -             3,800

Expenses

  General and Administrative               3,460          2,612          36,515
                                       ---------      ---------       ---------
     Total Expenses                        3,460          2,612          36,515
                                       ---------      ---------       ---------
     Income (Loss) from Operations           340         (2,612)        (32,715)

Other Income (Expenses)

  Interest Expense                          (455)          (438)         (4,445)
  Interest Income                             31             31             175
                                       ---------      ---------       ---------
     Total Other Income (Expenses)          (424)          (407)         (4,270)

     Taxes                                   -              -               -
                                       ---------      ---------       ---------
     Net Income (Loss)                $      (84)    $   (3,019)     $  (36,985)
                                       =========      =========       =========

     Loss Per Common Share            $      -       $      -

     Weighted Average
     Outstanding Shares                1,161,700      1,000,000
</TABLE>
         See accompanying notes to financial statements.

                                4
<PAGE>

                       SaiphT 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         March         to March
                                                    31, 2003      31, 2002       31, 2003
                                                   ----------    ----------     ----------
<S>                                                <C>           <C>            <C>
Cash Flows from Operating Activities

 Net Income (Loss)                                 $     (84)     $  (3,019)     $ (36,985)
 Adjustments to Reconcile Net Income
  (Loss) to Net Cash Provided by
  Operating Activities:
    (Increase) in Interest Receivable                    (31)          (31)          (175)
    Increase in Accounts Payable/Interest Payable        745         2,535          5,953
    Expenses Paid by Stock Issuance                      480           -            2,980
                                                    --------      --------       --------
      Net Cash Provided (Used) by
      Operating Activities                             1,110          (515)       (28,227)

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                       -             -           23,087
 Issuance of Note Payable for Cash                       -             -            7,500
                                                    --------      --------       --------
      Net Cash Provided (Used) by
      Financing Activities                               -             -           30,587
                                                    --------      --------       --------
      Increase (Decrease) in Cash                      1,110          (515)         1,110

      Cash, Beginning of Period                          -           1,372            -
                                                    --------      --------       --------
      Cash, End of Period                          $   1,110     $     857      $   1,110
                                                    ========      ========       ========


Supplemental Cash Flow Information

  Interest                                         $     -       $     -        $     -
  Income Taxes                                           -             -              -
</TABLE>
         See accompanying notes to financial statements.

                                5
<PAGE>

                            SaiphT Corporation
                       (A Development Stage Company)
                     Notes to the Financial Statements
                              March 31, 2003

NOTE 1 - CORPORATE HISTORY

SaiphT 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.   On March 5, 2003 the
Company filed Amended Articles of Incorporation changing its name to SaiphT
Corporation.

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.

Method of Accounting - The Company uses the accrual method of accounting and
recognizes revenues and expenses in the period in which the goods sold are
shipped.

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 - 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.

                                    6
<PAGE>

                            SaiphT Corporation
                       (formerly Saiph Corporation)
                       (A Development Stage Company)
                     Notes to the Financial Statements
                              March 31, 2003

NOTE 3 - INCOME TAXES continued

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 March3 1, 2003 and earlier periods;
accordingly, no deferred tax liabilities have been recognized for all
periods.

The Company has cumulative net operating loss carryforwards over $36,000 at
March 31, 2003.  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, 2003 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 2001, 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 March 31, 2003, the total
accrued interest receivable amounts total $105 and $70 respectively.

NOTE 5 - NOTE PAYABLE RELATED PARTY

The Company has issued several promissory notes to various corporations, some
of whose shareholders are officers of the Company.  The notes are unsecured,
bear an interest rate of 10% per annum and are due and payable on demand.
At March 31, 2003, the accrued interest associated with the various notes
was $4,443.

                                                         March 31,  December 31,
The Company has the following note payable obligations:    2003         2002
                                                        ----------   ----------

Related party notes payable due on demand plus accrued
  interest at a rate of 10% per annum                   $   9,000    $   9,000

Related party notes payable due on demand plus accrued
  interest at a rate of 10% per annum                      14,087       14,087
                                                         --------     --------
          Totals                                        $  23,087    $  23,087
          Less Current Maturities                         (23,087)     (23,087)
                                                         --------     --------
          Total Long-Term Notes Payable                 $     -      $     -
                                                         ========     ========

                                    7
<PAGE>

                            SaiphT Corporation
                       (formerly Saiph Corporation)
                       (A Development Stage Company)
                     Notes to the Financial Statements
                              March 31, 2003

NOTE 5 - NOTE PAYABLE RELATED PARTY continued

Following are maturities of long-term debt for each of the next five years:

                                                          Year       Amount
                                                       ----------   --------
                                                          2003      $ 23,087
                                                          2004           -
                                                          2005           -
                                                          2006           -
                                                       Thereafter        -
                                                                     -------
                                                          Total     $ 23,087
                                                                     =======

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.

NOTE 7 - COMMON STOCK

During the quarter ended March 31, 2003, the Company issued 480,000 shares
of common stock at par value for services rendered in behalf of the Company.

Through the issuance of 10,000 shares of common stock, the Company acquired
the rights and title to various software programs from E.com Advantage, Inc.
The shares were issued at $.01 per share.

                                    8
<PAGE>

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

     The Company is a development stage company.  From its inception
through December 2002, the Company had no operations.  In December 2002 the
Company acquired certain assets from E.com Advantage, Inc. for shares in
the Company, retained the services of new management, and commenced its
business of software development and related IT services.  The Company's
operations are in the startup phase of development.

     During first quarter 2003 the Company generated revenues of $3,800 and
incurred general and administrative expenses of $3,460.  Since operations
commenced in the last month of the year ended December 31, 2002, there is
no comparable data for the same period in the prior year.  Management has
not yet determined the amount of revenues and expenses estimated for the
remainder of 2003, but anticipates that they will increase based upon the
commencement of operations during the last month of 2002.

     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 Fund Management Ltd., an entity of which Eric Chess Bronk, a
shareholder of the Company, is an executive officer and director, loaned
$9,000 to the Company at its inception for operating expenses.  During 2001
Mezzanine Investment Corporation, an entity of which Mr. Bronk is the sole
officer and director, loaned $3,500 to the Company, and Procyon
Corporation, an entity of which Mr. Daggett, a director of the Company,
is an officer loaned $5,000 to the Company.  During 2002 Cygni Capital LLC
(formerly Mezzanine Associates, LLC), a limited liability company of which
Mr. Bronk is the managing member, loaned $1,862 on June 14, 2002, and
$3,725 on December 31, 2002, to the Company.  The Company also loaned a
total of $1,250 to two companies associated with Mr. Bronk.

     Management anticipates that any needed operating funds for the legal
and accounting expenses incurred by the Company to meeting its reporting
requirements will be loaned to the Company on the same or similar terms as
those of other loans to the Company.  There are no agreements with any of
the companies and no assurance that all or a portion of these funds will be
loaned to the Company.  If the Company is unable to borrow such funds,
management will seek other sources of funding which are currently unknown
to management.  There is no assurance that such funding would be available,
or that if it is made available, it could be obtained on terms favorable to
the Company.

                        ITEM 5.  OTHER INFORMATION

     On May 16, 2003, Jason Daggett resigned as Treasurer of the Company.

                                    9
<PAGE>

                 ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits.

          99.1 Written Statement of the Principal Executive Officer and
Chief Financial Officer with respect to compliance with Section 13(a) of the
Securities Exchange Act of 1934.


     (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, 2003.

                                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.

                                   SaiphT Corporation

Date:  June 18, 2003               By: /s/ Sukhbir Mudan
                                       Sukhbir Mudan, President and CFO
                                       Principal Executive Officer and
                                       Principal Financial Officer and
                                       Principal Accounting Officer


                              CERTIFICATIONS

I, Sukhbir Mudan, certify that:

     1.    I have reviewed this quarterly report on Form 10-QSB of SaiphT
Corporation;

     2.   Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period
covered by this quarterly report;

     3.   Based on my knowledge, the financial statements, and other
financial information included in this quarterly report, fairly present in
all material respects the financial condition, results of operations and
cash flows of the registrant as of, and for, the periods presented in this
quarterly report;

                                    10
<PAGE>

     4.   I am responsible for establishing and maintaining disclosure
controls and procedures (as defined in Exchange Act Rules 13a-14 and 15-d-
14) for the registrant and I have:

          (a)  designed such disclosure controls and procedures to ensure
     the material information relating to the registrant is made known to
     me, particularly during the period in which this quarterly report was
     being prepared;

          (b)  evaluated the effectiveness of the registrant's disclosure
     controls and procedures as of a date within 90 days prior to the
     filing date of this quarterly report (the "Evaluation Date"); and

          (c)  presented in this quarterly report my conclusions about the
     effectiveness of the disclosure controls and procedures based on our
     evaluation as of the Evaluation Date;

     5.   I have disclosed, based on my most recent evaluation, to the
registrant's auditors and to the boards of directors:

          (a)  all significant deficiencies in the design or operation of
     internal controls which could adversely affect the registrant's
     ability to record, process, summarize and report financial data and
     have identified for the registrant's auditors any material weaknesses
     in internal controls; and

          (b)  any fraud, whether or not material, that involves management
     or other employees who have a significant role in the registrant's
     internal controls; and

     6.   I have indicated in this quarterly report whether or not there
were significant changes in internal controls or in other factors that
could significantly affect internal controls subsequent to the date of our
most recent evaluation, including any corrective actions with regard to
significant deficiencies and material weaknesses.

     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.

June 18, 2003                      /s/ Sukhbir Mudan
                                   Sukhbir Mudan, President and CFO
                                   Principal Executive Officer and
                                   Principal Financial Officer



                                    11