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

                                   FORM 10-QSB

  [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
            OF 1934 FOR THE QUARTERLY PERIOD 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: 000-32845

                         COBRA FINANCIAL SERVICES, INC.
                         ------------------------------

        (Exact name of small business issuer as specified in its charter)


Texas                                                                75-2668876
-----                                                                ----------
(State  or other jurisdiction of                                (I.R.S. Employer
incorporation or organization)                               Identification No.)



          811 S. Central Expressway, Suite 210, Richardson, Texas 75080
          -------------------------------------------------------------
                    (Address of principal executive offices)

                                  972.644.9991
                                  ------------
                           (Issuer's Telephone Number)

         Securities registered under Section 12(b) of the Exchange Act:
                                      None

         Securities registered under Section 12(g) of the Exchange Act:
                          Common Stock, $.001 par value
                                (Title if Class)

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

State the number of shares outstanding of each of the issuer's classes of common
equity,  as  of the latest practical date.  As of September 30, 2002, there were
15,630,000  shares  of  the  issuer's  $.001  par  value common stock issued and
outstanding.


                                        1
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM  1.  FINANCIAL  STATEMENTS

<TABLE>
<CAPTION>
                                    Cobra Financial Services Inc.
                                          Balance Sheets
                                           (Unaudited)

                                                                               September 30        December 31
                                                                                  2002                2001
                                                                                  ----                ----
                                                                           --------------------------------------
<S>                                                                        <C>                  <C>
                                   A S S E T S
                                   -----------
Current Assets:
---------------
Cash                                                                       $              312   $             68

                                                                           -------------------  -----------------
               Total Current Assets                                                       312                 68

Fixed Assets:
-------------
Farm Equipment                                                                         89,612             89,612
Buildings                                                                              26,653             26,653
Leasehold Improvements                                                                 52,746             52,746
Accumulated Depreciation                                                              (40,419)           (29,328)
                                                                           -------------------  -----------------
               Total Fixed Assets                                                     128,592            139,683



                                                                           -------------------  -----------------
               Total Assets                                                $          128,904  $        139,751
                                                                           ===================  =================


      L I A B I L I T I E S  A N D  S T O C K H O L D E R S ' E Q U I T Y
      --------------------------------------------------------------------

Current Liabilities
-------------------
Accrued Expenses                                                           $           39,325   $         21,320
Note Payable - Related Party                                                           38,423             32,223
                                                                           -------------------  -----------------
               Total Current Liabilities                                               77,748             53,543

Commitments and Contingencies                                                                -                  -
----------------------------

Stockholders' Equity
--------------------
Preferred Stock,  $.001 par value,  20,000,000 shares                                       -                  -
         authorized;  none issued and outstanding
Common stock,  $.001 par value,  100,000,000 shares                                    15,630             15,630
         authorized;  15,630,000 shares issued and
         outstanding
Additional paid-in capital                                                             14,330             14,330
Accumulated surplus                                                                    21,196             56,248
                                                                           -------------------  -----------------


               Total Stockholders' Equity                                              51,156             86,208
                                                                           -------------------  -----------------

               Total Liabilities and Stockholders'  Equity                 $          128,904   $        139,751
                                                                           ===================  =================
</TABLE>


See accompanying notes to Financial Statements.


                                        2
<PAGE>
Cobra Financial Services Inc.

<TABLE>
<CAPTION>
                                                     Statements of Operations
                                                            (Unaudited)


                                                     Three Months Ended                        Nine Months Ended
                                                         September 30,                           September 30,
                                                     -------------------     -----------------------------------    ---------------
                                                            2002                    2001              2002               2001
                                                     -------------------     -------------------  --------------    ---------------
<S>                                                  <C>                     <C>                  <C>               <C>
Revenues:
        Revenue                                      $                -      $             7,400  $           -     $       28,267
                                                     -------------------     -------------------  --------------    ---------------

             Total revenues                                           -                    7,400              -             28,267

Operating Expenses:
        Consulting Expenses                                       1,200                        -          1,200                  -
        Officer Salary and Expenses                                   -                        -              -             17,000
        Professional Fees                                             -                      900          2,105              2,100
        Vehicle Expenses                                              -                    2,808          1,185              3,655
        Lease Expenses                                            6,000                    6,000         18,000             18,000
        Depreciation                                              3,697                    3,697         11,091             11,091
        General and Administrative                                   45                      719          1,426              4,597
                                                     -------------------     -----------------------------------    ---------------

                                                                 10,942                   14,124         35,052             56,443
                                                     -------------------     -----------------------------------    ---------------

             Income (Loss) from operations                      (10,942)                  (6,724)       (35,052)           (28,176)
                                                     -------------------     -----------------------------------    ---------------
Provision for Income Taxes:
        Income Tax Benefit (Expense)                                  -                        -              -                  -



             Net Income (Loss)                       $          (10,942)     $            (6,724) $     (35,052)    $      (28,176)
                                                     ===================     ===================================    ===============
Loss per common share:

             From operations                         $            (0.00)     $             (0.00) $       (0.00)    $        (0.00)

                                                     -------------------     -----------------------------------    ---------------

Weighted average common shares outstanding                   15,630,000                15,630,000     15,630,000         15,630,000
                                                     ===================     ===================================    ===============
</TABLE>



See accompanying notes to Financial Statements.


                                        3
<PAGE>
Cobra Financial Services Inc.

<TABLE>
<CAPTION>
                                                 Statements of Cash Flows
                                                       (Unaudited)

                                                                                        Nine Months Ended
                                                                                          September 30,
                                                                        ------------------------------------------------
                                                                                 2002                      2001
                                                                        ------------------------   ---------------------
<S>                                                                     <C>                        <C>
Cash Flows from Operating Activities:
Net Income                                                              $               (35,052)   $             (28,176)

Adjustments to Reconcile net loss to net cash
      provided by (used in) operating activities:
             Depreciation
                                                                                         11,091                    11,091
          Changes in operating assets and liabilities:
             Accrued Expenses
                                                                                         18,005                   15,335

                                                                        ------------------------   ---------------------
Net Cash provided by (used in) Operating Activities                     $                (5,956)   $              (1,760)

Cash Flows from Investing Activities:
          Fixed Assets
                                                                                              -                        -

                                                                        ------------------------   ---------------------
Net Cash provided by (used in) Investing Activities                     $                     -    $                   -

Cash Flows from Financing Activities:
          Issuance of common stock
                                                                                              -                        -
          Proceeds from financing
                                                                                          6,200                        -
          Advances from officer
                                                                                              -                    3,498

                                                                        ------------------------   ----------------------
Net Cash provided by (used in) Financing Activities                     $                 6,200    $               3,498

Net Increase (Decrease) in cash and cash equivalents
                                                                                            244                    1,748

Cash at beginning of period                                             $                    68    $                 421
                                                                        ========================   ======================

Cash at end of period                                                   $                   312    $               2,169
                                                                        ========================   ======================
Supplemental disclosure:
          Total interest paid                                           $                     -    $                   -
                                                                        ========================   ======================
</TABLE>



See accompanying notes to Financial Statements.


                                        4
<PAGE>
Cobra Financial Services, Inc.

                          Notes to Financial Statements

NOTE 1- BASIS OF PRESENTATION
-----------------------------

GENERAL
-------
The unaudited interim financial statements of the Cobra Financial Services, Inc.
("Company") as of September 30, 2002 and for the three and nine ended September
30, 2002, included herein have been prepared in accordance with the instructions
for Form 10QSB under the Securities Exchange Act of 1934, as amended, and
Article 10 of Regulation S-X under the Securities Act of 1933, as amended. The
December 31, 2001 Balance Sheet was derived from audited financial statements,
but does not include all disclosures required by generally accepted accounting
principles. Certain information and note 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
relating to interim consolidated financial statements.

In the opinion of management, the accompanying unaudited interim financial
statements reflect all adjustments, consisting only of normal recurring
adjustments, necessary to present fairly the financial position of the Company
at September 30, 2002, and the results of their operations for the three and
nine months ended September 30, 2002 and 2001, and their cash flows for the
three and nine months ended September 30, 2002 and 2001.

The results of operations for such periods are not necessarily indicative of
results expected for the full year or for any future period. These financial
statements should be read in conjunction with the audited consolidated financial
statements as of December 31, 2001, and for the two years then ended December
31, 2001 and 2000 and related notes included in the Company's Form 10-SB filed
with the Securities and Exchange Commission

ORGANIZATION
------------
Cobra Financial Services Inc. ("the Company") was incorporated under the laws of
the State of Texas on September 16, 1996 for the purpose to promote and carry on
any lawful business for which a corporation may be incorporated under the laws
of the State of Texas. The company has a total of 100,000,000 authorized shares
with a par value of $.001 per share and with 15,630,000 shares issued and
outstanding as of September 30, 2002. On May 10, 2000, an amendment to the
Articles of Incorporation was filed with the Texas Secretary of State to
increase the authorized common share to 100,000,000, authorized 20,000,000 in
preferred stock, and change the par value to $.001 for both classes of stock.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
---------------------------------------------------

REVENUE
-------
Revenue consists of consulting fees relating to services performed by the
Company. The Company records revenue based on the accrual method of accounting.

During 2000, the Company adopted the U.S. Securities and Exchange Commission's
("SEC") Staff Accounting Bulletin 101, "Revenue Recognition" ("SAB 101"), which
provides guidance on the recognition, presentation, and disclosure of revenue in
financial statements filed with the SEC. The adoption of SAB 101 did not have a
material effect on the Company's business, financial condition, results of
operations or cash flows.


                                        5
<PAGE>
Cobra Financial Services, Inc.

                          Notes to Financial Statements

FIXED ASSETS
------------
Fixed assets are stated at cost. Depreciation and amortization using the
straight-line method for financial reporting purposes and accelerated methods
for income tax purposes.

The estimated useful lives are as follows:


                    Farm  Equipment                         7   years
                    Leasehold  Improvements                 25  years
                    Buildings                               40  years



Depreciation expense for the years ended December 31, 2001 and nine months ended
September  30,  2002  was  $12,664  and  $11,091,  respectively.

FEDERAL INCOME TAX
------------------
The Company has adopted the provisions of Financial Accounting Standards Board
Statement No. 109, Accounting for Income Taxes. The Company accounts for income
taxes pursuant to the provisions of the Financial Accounting Standards Board
Statement No. 109, "Accounting for Income Taxes", which requires an asset and
liability approach to calculating deferred income taxes. The asset and liability
approach requires the recognition of deferred tax liabilities and assets for the
expected future tax consequences of temporary differences between the carrying
amounts and the tax basis of assets and liabilities.

USE OF ESTIMATES
----------------
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure on
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.

ACCOUNTING METHOD
-----------------
The Company's financial statements are prepared using the accrual method of
accounting. Revenues are recognized when earned and expenses when incurred.
Fixed assets are stated at cost. Depreciation and amortization using the
straight-line method for financial reporting purposes and accelerated methods
for income tax purposes.

EARNINGS PER COMMON SHARE
-------------------------
The Company adopted Financial Accounting Standards (SFAS) No. 128, "Earnings Per
Share," which simplifies the computation of earnings per share requiring the
restatement of all prior periods. Basic earnings per share are computed on the
basis of the weighted average number of common shares outstanding during each
year.

Diluted earnings per share are computed on the basis of the weighted average
number of common shares and dilutive securities outstanding. Dilutive securities
having an anti-dilutive effect on diluted earnings per share are excluded from
the calculation.

FAIR VALUE OF FINANCIAL INSTRUMENTS
-----------------------------------
The carrying value of financial instruments including marketable securities,
notes and loans receivables, accounts payable and notes payable approximate
their fair values at September 30, 2002.


                                        6
<PAGE>
Cobra Financial Services, Inc.

                          Notes to Financial Statements

LONG-LIVED ASSETS
-----------------
Statement of Financial Accounting Standards No. 121 "Accounting for Impairment
of Long-Lived Assets to be Disposed of " requires, among other things,
impairment loss of assets to be held and gains or losses from assets that are
expected to be disposed of be included as a component of income from continuing
operations before taxes on income.

COMPREHENSIVE INCOME
--------------------
Statement of Financial Accounting Standards (SFAS) No. 130, "Reporting
Comprehensive Income," establishes standards for reporting and display of
comprehensive income, its components and accumulated balances. Comprehensive
income is defined to include all changes in equity except those resulting from
investments by owners and distributions to owners. Among other disclosures, SFAS
No.130 requires that all items that are required to be recognized under current
accounting standards as components of comprehensive income be reported in a
financial statement that is displayed with the same prominence as other
financial statements. The Company does not have any assets requiring disclosure
of comprehensive income.

SEGMENTS OF AN ENTERPRISE AND RELATED INFORMATION
-------------------------------------------------
Statement of Financial Accounting Standards (SFAS) No. 131, Disclosures about
Segments of an Enterprise and Related Information, supersedes SFAS No. 14,
"Financial Reporting for Segments of a Business Enterprise." SFAS 131
establishes standards for the way that public companies report information about
operating segments in annual financial statements and requires reporting of
selected information about operating segments in interim financial statements
issued to the public. It also establishes standards for disclosures regarding
products and services, geographic areas and major customers. SFAS 131 defines
operating segments as components of a company about which separate financial
information is available that is evaluated regularly by the chief operating
decision maker in deciding how to allocate resources and in assessing
performance. The Company has evaluated this SFAS and does not believe it is
applicable at this time.

NOTE 3 - COMMON STOCK
---------------------
In May of 2000, the Company approved a 4000 to 1 forward split of the
outstanding common stock. At the time of the forward split there were a total of
1,240 shares outstanding. The financial statements are showing the shares
retroactively restated.

In July of 2000, the Company completed a public offering that was offered
without registration under the Securities Act of 1933, as amended (the "Act"),
in reliance upon the exemption afforded be sections 4 (2) and 3(b) of the Act
and Regulation D, Rule 506 promulgated there under. The Company sold 250,000
shares of common stock at a price of $.10 per share for a total amount raised of
$25,000.

NOTE 4 - RELATED PARTIES
------------------------
Officer Salary and Expenses - Carlton Fleming received no salary and expenses
for the nine months ended September 30, 2002.

Also, Carlton Fleming advanced the Company a total of $38,423 that is recorded
as Note Payable - Related Party.

An officer of the corporation provides office services without charge. Such
costs are immaterial to the financial statements and accordingly, have not been
reflected therein. The officers and directors of the Company are involved in
other business activities and may in the future become involved in other
business opportunities. If a specific business opportunity becomes available,
such persons may face a conflict in selecting between the Company and their
other business interests. The Company has not formulated a policy for the
resolution of such conflicts


                                        7
<PAGE>
NOTE 5 - INCOME TAXES
---------------------
Deferred income taxes arise from temporary differences resulting from the
Company's subsidiary utilizing the cash basis of accounting for tax purposes and
the accrual basis for financial reporting purposes. Deferred taxes are
classified as current or non-current, depending on the classification of the
assets and liabilities to which they relate. Deferred taxes arising from timing
differences that are not related to an asset or liability are classified as
current or non-current depending on the periods in which the timing differences
are expected to reverse. The Company's previous principal temporary differences
relate to revenue and expenses accrued for financial purposes, which are not
taxable for financial reporting purposes.

NOTE 6 - GOING CONCERN
----------------------
The accompanying financial statements have been prepared in conformity with
principles of accounting applicable to a going concern, which contemplates the
realization of assets and the liquidation of liabilities in the normal course of
business. The Company's revenue has decreased subsequent to the year ended
December 31, 2000 and has not yet generated sufficient working capital to
support its operations. The Company's ability to continue as a going concern is
dependent, among other things, on its ability to reduce certain costs, obtain
new contracts and additional financing and eventually, attaining a profitable
level of operations.

It is management's opinion that the going concern basis of reporting its
financial condition and results of operations is appropriate at this time. The
Company plans to increase cash flows and take steps towards achieving profitable
operations through its business plan, and through the merger with or acquisition
of profitable operations.

NOTE 8 - NOTES PAYABLE - RELATED PARTY
--------------------------------------
The major shareholder, Carlton Fleming has advanced the Company $38,423 as of
September 30, 2002. The note is classified as a current liability with a
maturity date of December 31, 2002 and does not contain an interest provision

NOTE 9 - SUBSEQUENT EVENTS
--------------------------
There were no other material subsequent events that have occurred since the
balance sheet date that warrants disclosure in these financial statements.




                                        8
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

Cobra Financial Services, Inc. was incorporated in Texas in 1996 by Mr. Carlton
Fleming, our president and a member of our Board of Directors, for the purpose
of investing in agricultural land and projects. For several years we invested
heavily in the improvement of farmland and farming equipment in the State of
Texas while attempting to attract experts in the fields for the purpose of
raising cattle and exporting bovine meat to the United Arab Emirates (the
"UAE"), Kuwait and Saudi Arabian Markets. The current conflict in the Middle
East may materially affect our proposed plan of operation. At a minimum, the
outlined time frames have been lengthened to take into consideration the impact
of this conflict.

We have leased real estate in north Texas. We constructed a 7,200 square foot
building on the leased property. Although we cannot give a specific timetable,
we hope to purchase our own cattle to raise on the property. We will not
purchase cattle until and unless we have generated sufficient revenue for a
sufficient period of time to justify such action. There is no guarantee that we
will ever generate sufficient revenue to purchase our own cattle. Therefore, our
initial business will be to purchase beef from third party suppliers for export.
The property is located in north Texas in an area supported by municipal
utilities. The property is situated in a moderate climate zone that we believe
is ideal for raising cattle in that the climate and conditions are conducive to
raising healthy cattle. The property is located near a major highway and
relatively close to a railroad, seaports, and airport facilities which makes
transportation of beef more convenient. Our operations to date have focused on
improving the real property. As discussed above, we have constructed a 7,200
square foot building, cleared brush, plowed and planted Bermuda grass, installed
water, electricity, roads, and erected fencing. We do not anticipate that we
will purchase cattle for at least the next 12 months. As of September 30, 2002,
we had not entered into any agreements to export beef, nor can we give any
assurances that we will be able to arrange for contracts to export beef in the
near future.

From our inception in 1996 to September 30, 2002, the only revenues we have
generated are from consulting services provided by Mr. Fleming, our president.
Mr. Fleming has provided consulting services in the areas of general business
and corporate operations. There can be no assurances that Mr. Fleming will be
able to generate revenues in the future from his consulting services. In fact,
should be raise sufficient funding through loans or otherwise, we plan to
completely discontinue providing business consulting services and intend to
focus only on our proposed exporting activities.

In or around May, 2000, we decided that it would be in the best interests of the
company and its shareholders to increase that number of issued and outstanding
common stock through a forward stock split. Specifically, around this time we
formulated our plan to register our stock pursuant to the Exchange Act and felt
it was in the best interests of the company and our shareholders to increase the
total issued and outstanding stock as we believed that such split would increase
access to capital markets. Therefore, on May 19, 2000, we authorized a forward
stock split of 4000 to 1. Immediately prior to the stock split, we had 1,240
shares of common stock issued and outstanding. Immediately following the stock
split we had 4,960,000 shares of our common stock issued and outstanding.

On October 12, 2000 our board of directors authorized a 3 to 1 forward split of
our common stock. Specifically, we felt it was in the best interests of the
company and our shareholders to increase the total issued and outstanding stock
as we believed that such split would increase access to capital markets. Our
total issued and outstanding common stock immediately prior to the stock split
was 5,210,000 shares of common stock. Our total issued and outstanding common
stock immediately following the stock split was 15,630,000 shares of our common
stock.


                                        9
<PAGE>
Planned Operation. At least initially, we plan to purchase meat to export. Over
the next three years we plan to purchase ready-to-ship frozen meat products from
existing meat packing plants which have excess capacity. We will purchase the
meat already frozen from meatpacking facilities. After the meat has been
purchased from plants throughout the United States, we plan to ship it to
overseas buyers in 40 foot containers. Each container we plan to use will be
able to hold approximately 25 metric tons (approximately 61,000 pounds) of meat.
We anticipate that the average shipping time will be three to four weeks from
shipment to destination, depending on the destination. Once we begin exporting
beef, we will attempt to process bi-weekly shipments of two containers each in
order to reach our production target of 1.5 million pounds per year at an
average of 125,000 pounds per month. We hope that at the end of a three year
period, we will have the ability to purchase our own cattle. There is no
guaranty that we will ever be in the position to purchase our own cattle.

We anticipate the following development schedule:

o   Conducting research and development. Since early 1999, we have been actively
studying the export potential and studying market trends related to the export
of U.S. Agricultural products. We have also been examining the nature and extent
of the USDA subsidy programs as well as the development of our target market. By
the end of 1999, we completed our study. We felt that preliminary indications
justified the commissioning of feasibility study conducted by professional firm.
The cost of the study was $2,500 and it was paid for from our existing capital
resources.

o   Raising working capital. Our registration statement was filed with the
Securities and Exchange Commission on June 5, 2001. Sixty days after filing, our
registration statement became effective with the Securities and Exchange
Commission. We plan to apply with the National Association of Securities
Dealers, Inc., to participate on the Over-the-Counter Bulletin Board. If we are
cleared to participate on the Over-the-Counter Bulletin Board, we expect to be
able to raise the necessary capital to fund our initial operations.
Specifically, we believe that the capital markets available to a Bulletin Board
company are broader than those available to a private company. We believe that,
in general, investors view participation on the Bulletin Board provides a
certain degree of liquidity to their investment compared to stock ownership in a
purely private company. Therefore, we believe that should we be cleared to
participate on the Bulletin Board, we will have access to investors which would
not otherwise be available if we were a private company.

We anticipate that we will be in a position to apply for SBA loans during the
third quarter of 2003. We anticipate that the legal, professional, and
operational costs associated with this process are $30,000. We plan to pay such
expenses from our existing capital resources.

o   Signing purchase and export agreements. We plan to begin negotiating and
signing initial purchase agreements for ready-to-ship meat during the second
quarter of 2003. We will need to complete the registration process and raise
sufficient funding for the purchase of beef prior to entering into any purchase
or export agreements. As part of our initial research and development, we have
identified possible vendors as our president has business associates who have
business relationships with potential vendors. As of September 30, 2002, we had
not engaged in any formal negotiations with potential vendors. We anticipate
that funding for the purchase of beef will come from SBA loans and any USDA
subsidies we are able to arrange. The USDA export subsidy is a program offered
by the USDA to promote trade, enhance the marketability and competitiveness of
United States products in the world market. The USDA subsidy is intended to
provide incentives to United States exporters only. The purpose of the subsidy
is to compensate the exporter for the difference between the United States
market price and the export price of the particular product where the United
States price is higher than the export price. This is designed to encourage
exports and allow United States products to compete with other exporting
countries such as countries from the European Union. The USDA subsidies require
that exporters apply for subsidies only after they secure sales contracts with
the foreign buyers. Assuming we secure such sales contracts, we intend to apply
for such subsidies. There is no guarantee we will receive subsidies. To apply,
we will be required to complete the governmental forms and submit same to the
USDA for review.

To begin shipping the meat, we anticipate that we will need approximately
$150,000 to fund one shipment per week for three weeks at cost of $50,000 per
container. We plan on raising the funds needed for the first shipment by selling
our capital stock. However, we do not have any commitment for such funding. Once
we submit to the USDA the bill of lading for the first shipment, we believe that


                                       10
<PAGE>
it will take approximately three weeks to receive a subsidy. We anticipate that
each shipment will take approximately 3 to 4 weeks to reach its destination,
depending on the destination. When the shipment arrives at its destination, we
will receive payment from the buyer from his or her bank letter of credit. We
believe that approximately 3 weeks after our first shipment, we will begin
generating sufficient revenues to pay for the next round of shipments as well as
sufficient capital to begin paying our expenses with earned revenues.

For the nine-month period ended September 30, 2002.

Liquidity and Capital Resources. We had cash of $312 as of September 30, 2002,
compared to cash of $68 as of December 31, 2001. As of September 30, 2002, our
total assets were $128,904 compared to total assets of $139,751 as of December
31, 2001. Our fixed assets at September 30, 2002 consisted primarily of farm
equipment valued at $89,612, buildings valued at $26,653 and leasehold
improvements valued at $52,746, less depreciation of $40,419.

As of September 30, 2002, we had liabilities of $77,748, compared to liabilities
of $53,543 as of December 31, 2001. At September 30, 2002 our assets exceeded
our liabilities by $51,156.

RESULTS OF OPERATIONS.

We have not engaged in any exporting operations to date. Our only revenues have
been derived from consulting income from consulting services provided by our
president, Carlton Fleming. However, we do not believe that we will earn any
future revenues from such services. Moreover, during the nine month period ended
September 30, 2002, we did not earn any revenue from any source.

Revenues. During the nine month period ended September 30, 2002, we did not earn
any revenues, compared to $28,267 realized during the same period ending
September 30, 2001. The revenue in 2001 was from consulting services provided by
our president, Carlton Fleming. We do not believe we will earn any future
revenue from such services.

Operating Expenses. Our total expenses were $35,052 for the nine month period
ended September 30, 2002 compared to total expenses of $56,443 for the nine
month period ended September 30, 2001. Our decreased expenses for the
corresponding periods was primarily due to decreased expenses for officers
salary and expenses and general and administrative expenses. For the nine month
period ended September 30, 2002, we experienced a net loss of $35,052 compared
to a net loss of $28,176 for the nine month period ended September 30, 2001. Our
net loss increased for the nine month period ended September 30, 2002 because we
did not earn $28,267 in revenues during the nine month period ended September
30, 2002, compared to the six-month period ended September 30, 2001.

We have not engaged in any exporting activities to date. Our only revenues to
date have been derived from the general business consulting services provided by
our president, Mr. Fleming, to other businesses. We do not believe that Mr.
Fleming will be able to generate revenues in the future from his consulting
services as he has indicated that he will not be providing such services in the
future. In fact, should we be successful in raising sufficient capital through
loans or otherwise, we plan to completely discontinue our business consulting
services and focus entirely on our proposed exporting activities. There is also
no guarantee that we will be able to generate revenues from our proposed
exporting activities.

PLAN OF OPERATION FOR THE NEXT TWELVE MONTHS.

Over the next twelve months our focus will be on:

o   Locating and negotiating purchase agreements with local vendors and meat
packing plants for the purpose of guarantying a supply commitment to meet the
initial export requirements.
o   Securing export contracts by finalizing negotiation and signing agreements
with overseas buyers.
o   Hiring and training of staff to effectively and efficiently support the
company function and operation activity.
o   Develop an internal control system and implement an information system.


                                       11
<PAGE>
Given our limited financial resources, we will have to rely on sales of the
company's securities and possible loans from directors and government subsidies.
We intend to apply for a SBA loan under the International Trade Program.
However, we have not submitted an application for an SBA loan as of the date of
this filing.

We may seek additional funding through public or private sales of our
securities, including equity securities, or through commercial or private
financing arrangements. However, adequate funds, whether through financial
markets or collaborative or other arrangements with corporate partners or from
other sources, may not be available when needed or may not be available on terms
acceptable to us. In the event that we are not able to obtain additional funding
on a timely basis, we may be required to scale back any proposed operations or
eliminate certain of our proposed programs, either of which could have a
material adverse effect on our ability to earn revenues.

                          PART II -- OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.
--------------------------

There are no legal proceedings against the Company and the Company is unaware of
such proceedings contemplated against it.

ITEM 2. CHANGES IN SECURITIES.
------------------------------

Not applicable.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES
---------------------------------------

Not applicable.

ITEM 4. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS
---------------------------------------------------------

Not applicable.

ITEM 5. OTHER INFORMATION
-------------------------

Not applicable.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
----------------------------------------

EXHIBITS

None.
-----
REPORTS ON FORM 8-K

There were no reports on Form 8-K filed by the Company during the quarter.


                                       12
<PAGE>
                                   SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Company has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

Cobra Financial Services, Inc., a Texas corporation



March 26, 2003                        By:  /s/ Carlton W. Fleming
                                           -----------------------------------
                                           Carlton W. Fleming



Its: President


                                       13
<PAGE>
CERTIFICATIONS

I, Carlton Fleming, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Cobra Financial
Services, Inc.

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 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;

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
functions):

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: March 26, 2003



                              /s/ Carlton Fleming
                              ----------------------
                              Carlton Fleming
                              Chief Executive Officer


                                       14
<PAGE>
CERTIFICATIONS I, Dane McDaniel, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Cobra Financial
Services, Inc.

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 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;

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
functions):

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: March 26, 2003



                              /s/ Dane McDaniel
                              ----------------------
                              Dane McDaniel
                              Chief Financial Officer


                                       15
<PAGE>