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 September 30, 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

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 November 12, 2002,
there were 1,000,000 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 September 30, 2002, and the results of its
operations and changes in its financial position from March 1, 2000,
through September 30, 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.

                                      2

<PAGE>
                            Saiph Corporation
                      (A Development Stage Company)
                              Balance Sheet
<TABLE>
<CAPTION>
                                                   September 30,    December 31,
                                                       2002            2001
                                                    (Unaudited)
                                                    -----------     -----------
<S>                                                 <C>             <C>
                                  Assets
Current Assets

   Cash                                             $      -        $    1,372
   Interest Receivable                                     112              19
   Note Receivable - Related Party                       1,250           1,250
                                                     ---------       ---------
     Total Assets                                   $    1,362      $    2,641
                                                     =========       =========

                  Liabilities and Stockholders' Equity

Current Liabilities

   Accounts Payable                                 $    4,210      $      250
   Interest Payable                                      3,416           2,068
   Note Payable - Related Party                         17,500          17,500
                                                     ---------       ---------
     Total Current Liabilities                          25,126          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        (33,764)        (27,177)
                                                     ---------       ---------
     Total Stockholders' Equity                        (23,764)        (17,177)
                                                     ---------       ---------
     Total Liabilities and Stockholders' Equity     $    1,362      $    2,641
                                                     =========       =========
</TABLE>
                See accompanying notes to financial statements.

                                      3

<PAGE>
                             Saiph Corporation
                       (A Development Stage Company)
                          Statement of Operations
                                (Unaudited)
<TABLE>
<CAPTION>
                                                                                       For the Period
                                                                                           March 1,
                                                                                           2000 to
                             For the Three Months Ended    For the Nine Months Ended     (Inception)
                              September     September       September     September       September
                              30, 2002      30, 2001        30, 2002      30, 2001        30, 2002
                             -----------   -----------     -----------   -----------     -----------
<S>                          <C>           <C>             <C>           <C>             <C>
Revenue                      $      -      $      -        $      -      $      -        $      -
                              ---------     ---------       ---------     ---------       ---------
Expenses

   General & Administrative         -             950           5,332         6,506          30,460
                              ---------     ---------       ---------     ---------       ---------
     Total Expenses                 -             950           5,332         6,506          30,460
                              ---------     ---------       ---------     ---------       ---------
     Income (Loss)
     from Operations                -            (950)         (5,332)       (6,506)        (30,460)

Other Income (Expenses)

   Interest Income                   31           -                93           -               112
   Interest Expense                (455)         (431)         (1,348)         (949)         (3,416)
                              ---------     ---------       ---------     ---------       ---------
     Total Other Income
     (Expenses)                    (424)         (431)         (1,255)         (949)         (3,304)
                              ---------     ---------       ---------     ---------       ---------
     Income (Loss) Before
     Taxes                         (424)       (1,381)         (6,587)       (7,455)        (33,764)

     Taxes                          -             -               -             -               -
                              ---------     ---------       ---------     ---------       ---------
     Net Income (Loss)       $     (424)   $   (1,381)     $   (6,587)   $   (7,455)     $  (33,764)
                              =========     =========       =========     =========       =========

     Loss Per
     Common Share            $      -      $      -        $     (.01)   $     (.01)

     Weighted Average
     Outstanding Shares       1,000,000     1,000,000       1,000,000     1,000,000
</TABLE>

                See accompanying notes to financial statements.

                                      4

<PAGE>
                            Saiph Corporation
                      (A Development Stage Company)
                         Statement of Cash Flows
                               (Unaudited)
<TABLE>
<CAPTION>
                                                                         For the Period
                                                                          March 1, 2000
                                            For the Nine Months Ended     (Inception)
                                          September 30,   September 30,   to Sept. 30,
                                              2002            2001            2002
                                          ------------    ------------    ------------
<S>                                       <C>             <C>             <C>
Cash Flows from Operating Activities
  Net Income (Loss)                       $   (6,587)     $   (7,455)     $  (33,764)
  Adjustments to Reconcile Net Loss to
  Net Cash;
    (Increase) Decrease in:
      Interest Receivable                        (93)            -              (112)
    Increase (Decrease) in:
      Accounts Payable/Interest Payable        5,308             949           7,626
      Expenses Paid by Stock Issuance            -               -             2,500
                                           ---------       ---------       ---------
        Net Cash Provided (Used) by
        Operating Activities                  (1,372)         (6,506)        (23,750)

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              -             3,500          17,500
  Issuance of Note Payable for Cash              -             5,000           7,500
                                           ---------       ---------       ---------
        Net Cash Provided (Used) by
        Financing Activities                     -             8,500          25,000

        Increase (Decrease) in Cash           (1,372)          1,994             -

        Cash, Beginning of Period              1,372           1,278             -
                                           ---------       ---------       ---------
        Cash, End of Period               $      -        $    3,272      $      -
                                           =========       =========       =========

Supplemental Cash Flow Information

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

                                      5
<PAGE>
                             Saiph Corporation
                       (A Development Stage Company)
                     Notes to the Financial Statements
                             September 30, 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.

     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.

     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 September 30, 2002 and
     earlier years; accordingly, no deferred tax liabilities have been
     recognized for all years.

                                      6

<PAGE>
                             Saiph Corporation
                       (A Development Stage Company)
                     Notes to the Financial Statements
                             September 30, 2002

NOTE 3 - INCOME TAXES -continued-

     The Company has cumulative net operating loss carryforwards over $33,000
     at September 30, 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 September 30, 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 fourth quarter of 2001, the Company loaned $750 and $500 to
     separate corporations whose presidents are shareholders 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 September 30, 2002,
     the total accrued interest receivable amounts total $68 and $44
     respectively.

NOTE 5 - NOTE PAYABLE - RELATED PARTY

     The Company issued a promissory note in the amount of $9,000 to Mezzanine
     Capital Ltd., whose president is a shareholder of the Company, on March 27,
     2000.  The unsecured note carries an interest rate of 10% per annum that
     began accruing on the date of the note.  As of September 30, 2002 the
     accrued interest balance is $2,250.

     During the second and third quarters, the board of directors approved the
     issuance of two promissory notes in the amounts of $3,500 and $5,000,
     resepectively, to seperate corporations whose presidents are shareholders
     of the Company.  The unsecured notes bear interest at the rate of 10% and
     are due on demand.  At September 30, 2002 accrued interest on the notes
     totaled $580 and $586 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.

                                      7

<PAGE>
             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, a director 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.

                     ITEM 3.  CONTROLS AND PROCEDURES

     Within 90 days prior to the filing date of this report, the Company's
management conducted an evaluation, under the supervision and with the
participation of the Company's

                                      8

<PAGE>

President and Chief Financial Officer, of the effectiveness of the design
and operation of the Company's disclosure controls and procedures.  Based
on this evaluation, the President and Chief Financial Officer concluded
that the Company's disclosure controls and procedures are effective.  There
have been no significant changes in the Company's internal controls or in
other factors that could significantly affect those controls subsequent to
the date of our last evaluation.

                                  PART II

                        ITEM 5.  OTHER INFORMATION

     On August 1, 2002, the number of directors was increased to two
persons and the board of directors appointed Suki Mudan as an additional
director of the Company.  On the same date Eric Bronk resigned as president
of the Company and the board of directors appointed Mr. Mudan to serve as
president.  Set forth below is certain biographical information regarding
Mr. Mudan:

     Suki Mudan has been a partner in IP Capital Partners, a venture fund,
since January 2000.  Since 1994 he has been the president and owner of
Mudan Asset Company, a management consulting firm.  From February 1997
until January 2000, Mr. Mudan was a principal in Nextera Interactive, a
management consulting company.  Mr. Mudan received his bachelor of science
degree in chemical engineering from Imperial College, London University, in
1971, and his graduate degree in management studies from Oxford University
in 1976.

     Mr. Mudan has no employment agreement, or compensation arrangements,
with the Company.  It is anticipated that shares of the Company's common
stock will be issued as compensation, or otherwise, to Mr. Mudan, but no
agreement or arrangement for the issuance of any shares has been
determined.

                 ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits.

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

          99.2 Written Statement of the 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 third quarter of the fiscal year ending December 31, 2002.

                                      9

<PAGE>
                                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:  November 14, 2002           By /s/ Suki Mudan
                                      Suki Mudan, Chief Executive Officer


Date:  November 14, 2002           By /s/ Eric C.  Bronk
                                      Eric C. Bronk, Chief FinancialOfficer
                                      and Principal Accounting Officer


                                      10

<PAGE>
                              CERTIFICATIONS

I, Suki Mudan, certify that:

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

     4.   The registrant's other certifying officers and I are 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 we
have:

          (a)  designed such disclosure controls and procedures to ensure
the material information relating to the registrant is made known to us,
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 September 30, 2002 (the "Evaluation Date");
and

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

     5.   The registrant's other certifying officers and I have disclosed,
based on our 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

                                      11

<PAGE>

     6.   The registrant's other certifying officers and 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.


                                   /s/ Suki Mudan
                                   Suki Mudan, Chief Executive Officer


                                      12

<PAGE>

I, Eric C. Bronk, certify that:

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

     4.   The registrant's other certifying officers and I are 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 we
have:

          (a)  designed such disclosure controls and procedures to ensure
the material information relating to the registrant is made known to us,
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 September 30, 2002 (the "Evaluation Date");
and

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

     5.   The registrant's other certifying officers and I have disclosed,
based on our 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.   The registrant's other certifying officers and 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.

                                      13

<PAGE>

     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.


                                   /s/ Eric C.  Bronk
                                   Eric C. Bronk, Chief Financial Officer


                                      14