U.S. SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549

                                 FORM 10-Q


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

                For the Quarterly Period 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 No. 0-31235

                          CONX CAPITAL CORPORATION
                           ----------------------
           (Exact name of registrant as specified in its charter)

          NEVADA                                   62-1736894
          ------                                   ----------
     (State or other jurisdiction of           (I.R.S. Employer
     incorporation or organization)           Identification Number)

     502 N. DIVISION STREET, CARSON CITY, NV          89703
     ---------------------------------------          -----
     (Address of principal executive offices)       (Zip Code)

                               (702) 886-0713
                                -------------
            (Registrant's telephone number, including area code)


     Indicate  by check mark whether the  registrant (1) has filed all
     reports  required to  be  filed  by Section 13  or  15(d) of  the
     Securities Exchange Act  of 1934 during  the preceding 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
                                            ---    ---

     As  of  March 31, 2003,  the  Registrant  had 6,650,000 shares of
     Common Stock, $.01 par value per share, outstanding.



<PAGE>




                      PART  I - FINANCIAL INFORMATION


     ITEM 1.   Financial Statements

          This quarterly report on  Form 10-Q contains forward-looking
     statements as defined by the Private Securities Litigation Reform
     Act of 1995.   Such forward-looking statements should  be read in
     conjunction with  the cautionary  statements and other  important
     factors included in  this Form 10-Q as  well as in other  filings
     made by the  Company with the Securities  and Exchange Commission
     ("SEC") .     These forward-looking statements  are subject  to a
     number   of  risks  and  uncertainties,  which  could  cause  the
     Company's  actual  results   to  differ  materially   from  those
     anticipated in such statements and  include statements concerning
     plans,  objectives,   goals,   strategies,   future   events   or
     performance and underlying assumptions and other statements which
     are  other than  statements of historical  facts.   Factors which
     could cause  such results to differ include the Company's limited
     operating  history, the Company's dependence on the operations of
     an affiliated  party, reliance  upon third  party financing,  the
     need for additional financing and other factors discussed  in the
     Company's  filings with the SEC, including the  Risk Factors  set
     forth in  the Company's  Form 10  dated January 16,  2001.   Such
     forward-looking statements may be identified, without limitation,
     by the use of the words "anticipates,"  "believes,"  "estimates,"
     "expects,"  "intends,"   "plans,"  "predicts,"   "projects,"  and
     similar expressions.

          The  Company's  expectations,  beliefs  and projections  are
     expressed in good faith and are believed by the Company to have a
     reasonable  basis,  including  without  limitation,  management's
     examination of the historical operating trends, data contained in
     the  Company's  records  and  other  data  available  from  third
     parties.  There can be  no assurance, however, that the Company's
     expectations,  beliefs  or   projections  will  be  achieved   or
     accomplished.




                                    -1-


<PAGE>









                          CONX Capital Corporation

                Accountants' Report and Financial Statements

                    March 31, 2003 and December 31, 2002


































                                      -2-


<PAGE>



                       CONX Capital Corporation
                 March 31, 2003 and December 31, 2002


Contents

  Independent Accountants' Report................................. 4

  Financial Statements
    Balance Sheets................................................ 5
    Statements of Income.......................................... 6
    Statements of Stockholders' Equity............................ 7
    Statements of Cash Flows...................................... 8
    Notes to Financial Statements................................. 9




                                     -3-

<PAGE>




                    Independent Accountants' Report




Board of Directors
CONX Capital Corporation
Little Rock, Arkansas

We have reviewed the accompanying balance sheet of CONX Capital
Corporation as of March 31, 2003 and the related statements of
income and cash flows for the three-month periods ended March 31,
2003 and 2002.  These financial statements are the responsibility
of the Company's management.

We conducted our reviews in accordance with standards established
by the American Institute of Certified Public Accountants.  A
review of interim financial information consists principally of
applying analytical procedures to financial data and making
inquiries of persons responsible for financial and accounting
matters.  It is substantially less in scope than an audit
conducted in accordance with auditing standards generally
accepted in the United States of America, the objective of which
is the expression of an opinion regarding the financial
statements taken as a whole.  Accordingly, we do not express such
an opinion.

Based on our reviews, we are not aware of any material
modifications that should be made to the financial statements
referred to above for them to be in conformity with accounting
principles generally accepted in the United States of America.


We have previously audited, in accordance with auditing standards
generally accepted in the United States of America, the balance
sheet as of December 31, 2002 and the related statements of
income, retained earnings and cash flows for the year then ended
(not presented herein), and in our report dated February 28,
2003, we expressed an unqualified opinion on those financial
statements.  In our opinion, the information set forth in the
accompanying balance sheet as of December 31, 2002 is fairly
stated, in all material respects, in relation to the balance
sheet from which it has been derived.


                              /s/ BKD, LLP




Little Rock, Arkansas
April 24, 2003
                                   -4-


<PAGE>

                         CONX Capital Corporation
                             Balance Sheets
                  March 31, 2003 and December 31, 2002



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

  Cash                                        $    50,691     $     56,487
  Accounts receivable - other                      92,594           94,952
  Accounts receivable - affiliated company        236,735          236,735
  Notes receivable - affiliated company         2,522,466        2,345,170
  Equipment, at cost, net of accumulated
    deprectiation                               7,058,457        7,613,611
                                                ---------        ---------
                                              $ 9,960,943     $ 10,346,955
                                               ==========      ===========


Liabilities and Stockholders' Equity

  Liabilities

     Accrued expenses                         $    23,848     $     48,427
     Income taxes payable                          10,791               --
     Long-term debt                             5,331,674        5,893,177
     Deferred income taxes                      1,357,523        1,321,005
                                               ----------      -----------

        Total liabilities                       6,723,836        7,262,609
                                               ----------      -----------


  Stockholders' Equity
     Common stock, $.01 par value,
       authorized and issued 7,000,000
       shares                                      70,000           70,000
     Retained earnings                          3,185,107        3,032,346
     Treasury stock, at cost, 350,000
       shares                                     (18,000)         (18,000)
                                               -----------      ----------
                                                 3,237,107       3,084,346
                                               -----------      ----------

                                               $ 9,960,943    $ 10,346,955
                                                ==========     ===========

See Notes to Financial Statements


                                    -5-
<PAGE>


                        CONX Capital Corporation
                          Statements of Income
               Three Months Ended March 31, 2003 and 2002


                                              Three Months Ended March 31,
                                                   2003        2002
                                              ----------------------------
                                                       (Unaudited)

    Lease Income                              $  868,100      $   907,152
                                               ---------       ----------
    Operating Expenses
       Management fees                            15,000           15,000
       Depreciation                              555,154          508,473
       Professional fees                           7,200            7,200
       Directors fees                              5,000            5,000
       Rent                                        1,500            1,500
       Taxes and licenses                          9,165              265
       Other                                          --            1,014
       Interest expense                           88,217           70,596
                                               ---------       ----------

                                                 681,236          609,048
                                               ---------       ----------

    Operating Income                             186,864          298,104

    Other Income                                  27,301           18,874
                                               ---------       ----------

    Income Before Income Taxes                   214,165          316,978


    Provision for Income Taxes                    61,404          121,371
                                               ---------       ----------

    Net Income                                $  152,761      $   195,607
                                               =========       ==========


    Earnings Per Share
       Net income                             $  152,761      $   195,607
       Weighted average shares of
         common stock                          6,650,000        6,650,000
                                               ---------       ----------

    Basic earnings per share                  $   0.0229      $    0.0294
                                               =========       ==========


See Notes to Financial Statements

                                     -6-

<PAGE>



                         CONX Capital Corporation
                    Statements of Stockholders' Equity
                Three Months Ended March 31, 2003 and 2002






                                 Common     Retained     Treasury
                                 Stock      Earnings     Stock        Total
                                --------------------------------------------

Balance, January 1, 2002      $  70,000   $ 1,805,757  $ (18,000) $ 1,857,757

  Net income (unaudited)             --       195,607         --      195,607
                               --------     ---------    --------  ----------

Balance, March 31, 2002          70,000     2,001,364    (18,000)   2,053,364

  Net income                         --     1,030,982         --    1,030,982
                               --------     ---------    --------   ---------

Balance, December 31, 2002       70,000     3,032,346    (18,000)   3,084,346

  Net income (unaudited)             --       152,761         --      152,761
                               --------     ---------    --------   ---------

Balance, March 31, 2003
  (Unaudited)                 $  70,000   $ 3,185,107  $ (18,000) $ 3,237,107
                               ========    ==========   =========  ==========


See Notes to Financial Statements

                                     -7-


<PAGE>


                       CONX Capital Corporation
                       Statements of Cash Flows
              Three Months Ended March 31, 2003 and 2002



                                                  March 31,    March 31,
                                                    2003         2002
                                                 (Unaudited)  (Unaudited)
                                                 ------------------------
Operating Activities
  Net income                                    $  152,761    $  195,607
  Items not requiring cash
    Depreciation                                   555,154       508,473
  Deferred income taxes                             36,518       121,371
  Changes in
    Accounts receivable                              2,358        87,974
    Accounts payable and accrued expenses           16,212            --
                                                  --------     ---------

      Net cash provided by operating activities    763,003       913,425
                                                  --------     ---------

Investing Activities
  Increase in notes receivable                    (207,296)     (718,864)
                                                  ---------    ----------

      Net cash used in investing activities       (207,296)     (718,864)
                                                  ---------    ----------

Financing Activities
  Payments on long-term debt                      (561,503)     (940,078)
                                                  ---------    ----------

      Net cash used in financing activities       (561,503)     (940,078)
                                                  ---------    ----------

Decrease in Cash                                    (5,796)     (745,517)

Cash, Beginning of Period                           56,487       888,826
                                                  ---------     ---------

Cash, End of Period                             $    50,691   $   143,309
                                                  =========     =========

Supplemental Cash Flow Information

  Interest paid                                 $    88,217   $    70,596
                                                  =========     =========


See Notes to Financial Statements

                                     -8-


<PAGE>




Note 1:   Nature of Operations and Summary of Significant
            Accounting Policies



  Nature of Operations

    CONX Capital Corporation, a Delaware Corporation, is a
    specialty commercial finance company engaged in the business
    of originating and securing loans and equipment leases to
    smaller businesses, with a primary initial focus on regional
    trucking companies.  The Company was organized in April 1998
    with its headquarters located in Carson City, Nevada.  The
    Company originates loans and leases through marketing offices
    located in Carson City, Nevada and Little Rock, Arkansas.
    For the three months ended March 31, 2003 and the year
    December 31, 2002, all lease income was derived from one
    affiliated company.  The results of operations for the three
    months ended March 31, 2003, are not necessarily indicative
    of the results to be expected for the full year.


  Accounting Policies

    All adjustments made to the unaudited financial statements
    were of a normal recurring nature.  In the opinion of
    management, all adjustments necessary for a fair presentation
    of the results of interim periods have been made.  The
    results of operations for the period are not necessarily
    indicative of the results to be expected for the full year.

    These financial statements should be read in conjunction with
    the financial statements and notes thereto included in the
    Company's Form 10 filed with the Securities and Exchange
    Commission.


  Use of Estimates

    The preparation of financial statements in conformity with
    accounting principles generally accepted in the United States
    of America requires management to make estimates and
    assumptions that affect the reported amounts of assets and
    liabilities and disclosure of 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.


  Accounts Receivable

    Accounts receivable are stated at the amount billed to
    customers.  The Company provides an allowance for doubtful
    accounts, which is based upon a review of outstanding
    receivables, historical collection information and existing
    economic conditions.  Delinquent receivables are written off
    based on individual credit evaluation and specific
    circumstances of the customer.


  Equipment

    Equipment is depreciated over the estimated useful life of
    each asset.  Annual depreciation is computed using the
    straight-line method.  Estimated useful lives are as follows:


             Tractors                               5 years
             Trailers                              10 years




                                    -9-

<PAGE>


                        CONX Capital Corportation
                      Notes to Financial Statements
                   March 31, 2003 and December 31, 2002


  Income Taxes

    Deferred tax liabilities and assets are recognized for the
    tax effects of differences between the financial statement
    and tax bases of assets and liabilities.  A valuation
    allowance is established to reduce deferred tax assets if it
    is more likely than not that a deferred tax asset will not be
    realized.


  Revenue Recognition

    The Company recognizes operating lease income on the straight-
    line basis over the life of the operating leases.  These
    operating leases contain provisions for service charges on
    late payments equal to 2% of the lease payment or, if less,
    the highest rate allowed by Nevada law.  The leases also
    contain excess mileage charges in the amount of five cents
    per mile for miles in excess of 150,000 miles determined on
    an annual basis.  Initial direct costs are expensed over the
    life of the corresponding lease in proportion to the
    recognition of lease income.

    At March 31, 2003, the approximate future minimum lease
    income under these operating leases is as follows:


                                                     (Unaudited)
                                                      ---------

    2003                                              $   889,200
    2004                                                1,185,600
    2005                                                1,185,600
    2006                                                1,026,000
                                                       ----------
                                                      $ 4,286,400
                                                       ==========

<PAGE>


  Earnings Per Share

   Earnings per share have been computed based upon the weighted-
   average common shares outstanding during each period.


  Operating Leases

    The Company leases equipment under noncancelable operating
    leases.  These leases expire in various years through 2006
    and convert to a month to month basis if the Company does not
    receive notice of termination.  These leases require the
    lessee to pay all executory costs (property taxes,
    maintenance and insurance).  Rental income under these
    operating leases was $907,152 and $4,298,713 for the three
    months ended March 31, 2003 and the year ended December 31,
    2002, respectively.


                                     -10-

<PAGE>



                        CONX Capital Corportation
                      Notes to Financial Statements
                   March 31, 2003 and December 31, 2002



    Equipment under operating leases consists of the following at
    March 31, 2003 and December 31, 2002:

                                             2003            2002
                                          (Unaudited)
                                           --------------------------

     Tractors                             $ 10,089,300   $ 10,089,300
     Trailers                                2,447,894      2,447,894
                                            ----------     ----------
                                            12,537,194     12,537,194
       Less accumulated depreciation         5,478,737      4,923,583
                                            ----------     ----------

                                          $  7,058,457   $  7,613,611
                                            ==========     ==========



Note 2:   Long-term Debt

                                                           (Unaudited)
                                                            ---------

      Note payable - Navistar Financial Corporation (A)  $  4,661,133
      Note payable - Fleet Capital Leasing (B)                 99,844
      Note payable - GE Capital Corporation (C)               570,697
                                                           ----------

                                                         $  5,331,674
                                                           ==========

   Aggregate annual maturities of long-term debt
    at March 31, 2003:

        2003                                             $  1,647,858
        2004                                                1,503,395
        2005                                                1,230,534
        2006                                                  949,887
                                                          -----------

                                                         $  5,331,674
                                                          ===========


<PAGE>


    (A)  Due in monthly installments through 2003 ranging from $2,253
         to $53,693 with total monthly payments of approximately $160,000;
         including interest from 6.0% to 7.4%; secured by tractors and
         trailers.  Notes are guaranteed by Continental Express SD, Inc.
         (see Note 5)

    (B)  Due June 28, 2003; payable $45,367 monthly, including
         interest at 6.5%; secured by tractors and trailers.  Note is
         guaranteed by Continental Express SD, Inc. (see Note 5)

    (C)  Due December 1, 2005; payable $39,854 monthly, including
         variable interest rates from 5.58% to 5.92%; secured by tractors.
         Note is guaranteed by Continental Express SD, Inc. (see Note 5)





                                     -11-

<PAGE>



                        CONX Capital Corportation
                      Notes to Financial Statements
                   March 31, 2003 and December 31, 2002




NOTE 3:   Income Taxes

    The provision for income taxes for the periods ended March 31, 2003
    and 2002, includes these  components:


                                                   2003             2002
                                                (Unaudited)      (Unaudited)

        Taxes currently payable               $    24,886       $       --
        Deferred income taxes                      36,518          121,371
                                                ---------        ---------

                                              $    61,404       $  121,371
                                                =========        =========


    A reconciliation of income tax expense at the statutory rate
    to the Company's actual income tax expense for the periods ended
    March 31, 2003 and 2002, is shown below:


                                                   2003             2002
                                               (Unaudited)       (Unaudited)

        Computed at the statutory rate (34%)   $   72,816       $  107,773

        Increase (decrease) resulting from
          Impact of graduated rates               (11,412)          13,598
                                                 ---------       ---------

        Actual tax provision                    $   61,404      $  121,371
                                                 =========       =========


    The tax effects of temporary differences related to deferred
    taxes shown on the balance sheets at March 31, 2003 and December 31,
    2002, were:

                                                   2003
                                               (Unaudited)         2002
                                                ----------------------------
Deferred tax assets

   Net operating loss carryforwards
     (expiring 2020)                           $        --     $     43,176

Deferred tax liabilities
   Accumulated depreciation                      (1,357,523)     (1,364,181)
                                                 -----------     -----------

Net deferred tax liability                     $ (1,357,523)   $ (1,321,005)
                                                 ==========      ==========





                                     -12-
<PAGE>


                        CONX Capital Corportation
                      Notes to Financial Statements
                   March 31, 2003 and December 31, 2002


Note 4:   Equipment

    Equipment consists of the following at March 31, 2003 and
    December 31, 2002:

                                                  2003
                                               (Unaudited)         2002
                                                ----------------------------

       Tractors                               $ 10,089,300    $ 10,089,300
       Trailers                                  2,447,894       2,447,894
                                                ----------      ----------
                                                12,537,194      12,537,194
       Less accumulated depreciation             5,478,737       4,923,583
                                                ----------      ----------

                                              $  7,058,457    $  7,613,611
                                                ==========      ==========



Note 5:   Related Party Transactions


    The Company leases all of its equipment to Continental
    Express SD, Inc., an affiliated company, which has common
    ownership with the Company.  The lessor is required to pay
    all executory costs (maintenance and insurance).  The Company
    uses the management and office supplies of Harvey
    Manufacturing Corporation, an affiliated Company, which is
    owned by the Company's principal stockholder.  The Company
    paid Harvey Manufacturing Corporation $15,000 during the
    three months ended March 31, 2003 and 2002.

    At March 31, 2003 and December 31, 2002, the Company had a
    receivable and interest due from Harvey Manufacturing
    Corporation in the amounts of $810,811 and $766,612,
    respectively.

    At March 31, 2003 and December 31, 2002, the Company had a
    receivable and interest due from Continental Express SD,
    Inc., in the amounts of $1,654,755 and $1,491,658,
    respectively.

    At March 31, 2003 and December 31, 2002, the Company had a
    receivable due from Great Western, LLC, an affiliated
    Company, which is owned by a stockholder, in the amount of
    $56,900.


<PAGE>


    At March 31, 2003, the approximate future minimum lease
    income under these operating leases are as follows:


                                                     (Unaudited)
                                                      ---------

    2003                                            $   889,200
    2004                                              1,185,600
    2005                                              1,185,600
    2006                                              1,026,000
                                                      ---------

                                                    $ 4,286,400
                                                      =========



                                     -13-

<PAGE>




     ITEM 2.   Management's Discussion and Analysis of Financial
               Condition and Results of Operation

          The following discussion  and analysis below should  be read
     in conjunction with the financial statements, including the notes
     thereto, appearing elsewhere in this Quarterly Report on Form 10-
     Q.  To  date,  the  Company's  only  activities  and  sources  of
     operating revenue  have been leases of tractor  and trailer truck
     equipment to one affiliated company, Continental Express SD, Inc.


     Results of Operations

          Three Month Period ended March 31, 2003

     Lease  income  was  $868,100  for  the  quarter  ended  March 31,
     2003, as compared  to  $907,152 for the  same period  in  2002, a
     decrease  of  $39,052  or 4.5%.  Operating  expenses  (consisting
     primarily  of  interest  and  depreciation)  for  the three month
     period  ended  March 31, 2003   were   $681,236,   and  operating
     expenses  as a  percentage of lease income  was  78.5%.   For the
     same  period  in 2002,  operating  expenses   were   $609,048, an
     increase  of  $72,188  or  10.6%.    Operating   expenses   as  a
     percentage of  lease  income  were 67.1%.

     Income  from  operations  for  the quarter  ended  March 31, 2003
     was  $186,864,  as   compared   to   $298,104   for   the   first
     quarter  of  2002,   resulting  in  a  decrease  of  $112,240  or
     37.3% in  2003  over  2002.   Other  income for the  three  month
     period   ended   March 31, 2003   was  $27,301,  as  compared  to
     $18,874 for the first quarter  of  2002.   Income before  income
     taxes  for   the  quarter  ended   March 31, 2003  was  $214,165,
     with a provision for income taxes  of  $61,404, resulting in  net
     income  for  the  three  month  period  ended  March 31, 2003  of
     $152,761.   For  the   quarter  ending   March 31, 2002,   income
     before  income  taxes  was $316,978,  with a provision for income
     taxes of $121,371  resulting  in  net  income  for  the period of
     $195,607.  As a result,  income  before  income  taxes  decreased
     $102,813  or  32.4%  and  net  income decreased  $42,846 or 21.9%
     for the first quarter of 2003 over the same period in 2002.  This
     decrease  in  net  income  is attributable to a decrease in lease
     income  for  the quarter coinciding with an increase in operating
     expenses.

                                    -14-



<PAGE>


     Liquidity and Capital Resources

          The  Company's  current  assets  and  working   capital  are
     sufficient  to meet  its  needs  for the  next  twelve months  of
     operation as the  Company is currently  operating.  However,  the
     Company has  an ongoing need  to finance its  lending activities.
     This need is expected to fluctuate as the volume of the Company's
     loan and lease  originations  increase and decrease over the next
     twelve months.  The Company's primary cash  requirements  include
     the funding of (i) loans to  affiliated  entities  entering  into
     equipment leases, (ii) interest,  fees, and  expenses  associated
     with  the  Company's  credit  facilities  with  certain financial
     institutions,   (iii)  federal  income  tax  payments,  and  (iv)
     ongoing   administrative   and     other    operating   expenses.

                                    -15-


<PAGE>


     To  date,   the  Company   currently   has  funded   these   cash
     requirements by  credit facilities granted by  Navistar Financial
     Corporation, Banc One Leasing Corporation, GE Capital Corporation
     and  Fleet  Capital  Leasing  and  guaranteed  by  the  Company's
     affiliate,  Continental Express SD, Inc.



     Inflation

          The  impact of inflation is reflected  in the increased cost
     of the Company's operating  expenses, excluding depreciation  and
     interest  expense.   Changes  in  interest rates  have  a greater
     impact  on  the Company's  performance  than  do the  effects  of
     general  levels  of  inflation.   Inflation  affects  the Company
     primarily  through its effect  on interest rates,  since interest
     rates  normally increase  during periods  of  high inflation  and
     decrease during periods of low inflation.  The Company intends to
     manage  its exposure  to  inflationary  interest  rate  risks  by
     closely  monitoring  the  difference  or   spread    between  the
     effective rate of interest received  by the Company and the rates
     payable by the Company.



     ITEM  3.  Quantitative  and Qualitative Disclosures  About Market
               Risk


          Market risk  represents  the potential  loss resulting  from
     adverse changes  in the  value of  financial instruments,  either
     derivative or non-derivative, caused by fluctuations in  interest
     rates,  foreign  exchange  rates, commodity  prices,  and  equity
     security prices. The  Company handles market risks  in accordance
     with  its established  policies; however,  the  Company does  not
     enter into derivatives or other financial instruments for trading
     or  speculative purposes.  The Company  does  not have  financial
     instruments  to manage  and  reduce  the  impact  of  changes  in
     interest   rates   at   March 31, 2003  and   December  31, 2002.
     The  Company  held  various  financial  instruments at  March 31,
     2003 and 2002, consisting of  financial  assets  and  liabilities
     reported in the  Company's  Balance  Sheets.     (For  additional
     information   regarding  these  financial instruments,  refer  to
     Note 2 to the Company's financial statements.)


<PAGE>


          Interest Rate Risk - The Company is subject to interest rate
     risk  by financing  operations through  the  issuance of  certain
     long-term Notes issued to various lenders.  The fair market value
     of long-term,   fixed-interest rate debt  is subject to  interest
     rate risk. Generally, the fair value of fixed-interest  rate debt
     will increase  as  interest  rates  fall  and  will  decrease  as
     interest rates rise.

          Foreign-Exchange  Rate Risk -  The Company currently  has no
     exposure  to  foreign-exchange  rate  risk  because  all  of  its
     financial instruments are denominated in U.S. dollars.

          Commodity   Price  Risk  -  The  Company  has  no  financial
     instruments subject to commodity price risk.

          Equity Security Price  Risk - The  Company has no  financial
     instruments subject to equity security price risk.



     ITEM  4.  Control and Procedures.


          The  Company  maintains disclosure controls  and  procedures
     that  are  designed  to ensure that information  required  to  be
     disclosed  in  the Company's reports pursuant to  the  Securities
     Exchange  Act  of  1934,  as  amended,  is  recorded,  processed,
     summarized and reported within the time periods specified in  the
     SEC's rules  and forms, and that such information is  accumulated
     and communicated to the Company's management, including its Chief
     Executive   Officer   and   its  Chief  Financial   Officer,   as
     appropriate,   to  allow  timely  decisions  regarding   required
     disclosures.  In designing and evaluating the disclosure controls
     and  procedures,  management recognized  that  any  controls  and
     procedures,   no  matter  how  well designed  and  operated,  can
     provide  only  reasonable  assurances of  achieving  the  desired
     control  objectives, and management necessarily was  required  to
     apply its judgment in evaluating the cost-benefit relationship of
     possible controls and procedures.


<PAGE>

          Within 90 days prior to the date of this report, the Company
     carried  out  an evaluation, under the supervision and  with  the
     participation of the Company's Chief Executive Officer and  Chief
     Financial  Officer,  of  the  effectiveness  of  the  design  and
     operation of the Company's disclosure controls and procedures, as
     that  term  is  defined  in Rule 13a-14(c) under  the  Securities
     Exchange Act of 1934, as amended.  Based on this evaluation,  the
     Chief   Executive  Officer  and  Chief  Financial  Officer   have
     concluded  that  the Company's disclosure controls and procedures
     are  effective  in timely alerting the Company's Chief  Executive
     Officer  and  Chief  Financial Officer  to  material  information
     required  to be disclosed in the periodic reports filed with  the
     SEC.

          In addition, the Company's Chief Executive Officer and Chief
     Financial Officer have reviewed the Company's internal  controls,
     and  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  the  last
     evaluation.



                                     -16-


<PAGE>


                        PART II -- OTHER INFORMATION



     ITEM 1.  Legal Proceedings

     There are no  legal proceedings involving the Company  as a party
     or involving any of the Company's assets or leased properties.


     ITEM 2.  Changes in Securities

     None  of the  rights  of the  holders  of  any of  the  Company's
     securities  were materially modified during the period covered by
     this report.   In addition, no class of securities of the Company
     was  issued or modified which materially limited or qualified any
     class of its registered securities.


     ITEM 3. Defaults Upon Senior Securities

     During the  period covered by  this report there was  no material
     default in  the payment  of any  principal, interest,  sinking or
     purchase  fund installment,  or any  other  material default  not
     cured  within 30  days with  respect to  any indebtedness  of the
     Company.


     ITEM 4.  Submission of Matters to a Vote of Security Holders

     There were no matters submitted to a vote of security holders.


     ITEM 5.  Other Information

     None


     ITEM 6. (a)   Exhibits and Reports on Form 10-Q


     Exhibit Number                      Description of Exhibit
     --------------                      ----------------------

     99.1                                 Certificate of Chief Executive
                                          Officer of CONX Captial Corporation
                                          pursuant to 18 U.S.C. Section 1350.


     99.2                                 Certificate of Chief Financial
                                          Officer of CONX Captial Corporation
                                          pursuant to 18 U.S.C. Section 1350.




          (b)  Reports on Form 8-K

     No reports were filed for the period covered by this report.


                                   -17-

<PAGE>


                                 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.

                                   CONX Capital Corporation


                                   By:   /s/ Edward M. Harvey
                                        ------------------------------------
                                        Edward M. Harvey, Chairman, Director
                                        and President (Principal Executive
                                        Officer)

                                        Dated:   May 15, 2003

                                   By:   /s/ Todd W. Tiefel
                                        ------------------------------------
                                        Todd W. Tiefel, Secretary, Treasurer
                                        and Director (Principal Financial and
                                        Accounting Officer)

                                        Dated:   May 15, 2003



<PAGE>




                               Cerifications
                               -------------


   I, Edward M. Harvey, certify that:

      1. I have reviewed this quarterly report on Form 10-Q of CONX
         Capital 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 15d-14)
         for the registrant and we have:

               a) designed such disclosure controls and procedures to
                  ensure that material information relating to the
                  registrant, including its consolidated subsidiaries,
                  is made known to us by others within those entities,
                  particularly during the period in which this quarterly
                  report is 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 our conclusions about
                  the effectiveness of the disclosure controls and
                  procedures based on our evaluation as of the Evaluation
                  Date;

<PAGE>


      5. The registrant's other certifying officers and I have disclosed,
         based on our most recent evaluation, to the registrant's auditors
         and the audit committee of registrant's board of directors (or
         persons performing the equivalent function):

               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.


      Date: May 15, 2003

      /s/ Edward M. Harvey
      ---------------------------
      Principal Executive Officer




                                     -18-


<PAGE>






   I, Todd W. Tiefel, certify that:

      1. I have reviewed this quarterly report on Form 10-Q of CONX
         Capital 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 15d-14)
         for the registrant and we have:

               a) designed such disclosure controls and procedures to
                  ensure that material information relating to the
                  registrant, including its consolidated subsidiaries,
                  is made known to us by others within those entities,
                  particularly during the period in which this quarterly
                  report is 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 our conclusions about
                  the effectiveness of the disclosure controls and
                  procedures based on our evaluation as of the Evaluation
                  Date;

<PAGE>


      5. The registrant's other certifying officers and I have disclosed,
         based on our most recent evaluation, to the registrant's auditors
         and the audit committee of registrant's board of directors (or
         persons performing the equivalent function):

               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.


      Date: May 15, 2003

      /s/ Todd W. Tiefel
      -----------------------
      Chief Financial Officer




<PAGE>






                                                          Exhibit 99.1




                     CERTIFICATION OF CHIEF EXECUTIVE OFFICER
                            OF CONX CAPTIAL CORPORATION
                        PURSUANT TO 18 U.S.C. SECTION 1350



        In connection with the accompanying report on Form 10-Q for
   the period ending March 31, 2003 and filed with the Securities
   and Exchange Commission on the date hereof (the "Report"), I, Edward
   M. Harvey, Chief Executive Officer of CONX Capital Corporation,
   hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted
   pursuant to Section 906 of the Sarbanes - Oxley Act of 2002, that:


                 1.  The report fully complies with the requirements
                     of Section 13 (a) or 15 (d) of the Secutities
                     Exchange act of 1934; and

                 2.  The information contained in the Report fairly
                     presents, in all material respects, the financial
                     condition and results of operations of the company.



                                            /s/ Edward M. Harvey
                                            ---------------------------
                                            Edward M. Harvey
                                            Chief Executive Officer



                                   -19-


<PAGE>


                                                          Exhibit 99.2




                      CERTIFICATION OF CHIEF FINANCIAL OFFICER
                            OF CONX CAPTIAL CORPORATION
                        PURSUANT TO 18 U.S.C. SECTION 1350



        In connection with the accompanying report on Form 10-Q for
   the period ending March 31, 2003 and filed with the Securities
   and Exchange Commission on the date hereof (the "Report"), I, Todd W.
   Tiefel, Chief Financial Officer of CONX Capital Corporation, hereby
   certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant
   to Section 906 of the Sarbanes - Oxley Act of 2002, that:


                 1.  The report fully complies with the requirements
                     of Section 13 (a) or 15 (d) of the Secutities
                     Exchange act of 1934; and

                 2.  The information contained in the Report fairly
                     presents, in all material respects, the financial
                     condition and results of operations of the company.



                                            /s/ Todd W. Tiefel
                                            ----------------------------
                                            Todd W. Tiefel
                                            Chief Financial Officer




                                   -20-