--------------------------------------------------------------------------------
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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

                                   FORM 10-QSB
                            -------------------------


                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                   FOR THE FISCAL QUARTER ENDED MARCH 31, 2004

                         COMMISSION FILE NO.: 001-16207



                        HUGO INTERNATIONAL TELECOM, INC.
--------------------------------------------------------------------------------
        (Exact name of Small Business Issuer as specified in its charter)


Delaware                                                           98-0226479
--------------------------------------------------------------------------------
(State of other jurisdiction of                                 (IRS Employer
incorporation or organization)                               Identification No.)


                   14B Jan Sebastian Drive, Sandwich MA 02563
--------------------------------------------------------------------------------
                    (Address of principal executive offices)


                                  508-888-5478
--------------------------------------------------------------------------------
               (Registrant's telephone number including area code)





Check mark  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during the past 12
months (or for such shorter  period that the registrant as required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days. Yes ___ No _X_.

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act) Yes X No ___.

The number of outstanding shares of $0.0001 par value common stock as of January
13, 2006 was 50,000,000.

Transitional Small Business Disclosure Format:  Yes         No  X

<PAGE>



                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS MARCH 31, 2004 (UNAUDITED) AND 2003 (UNAUDITED)


<PAGE>


6

                   HUGO INTERNATIONAL TELECOM AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEET
                        AS OF MARCH 31, 2004 (UNAUDITED)
<TABLE>
<CAPTION>

                                                                      03/31/04
                                                                    -----------
ASSETS:

<S>                                                                 <C>
TOTAL ASSETS ...................................................    $      --
                                                                    ===========

LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Current liabilities:
   Accounts payable ............................................    $   168,455
   Accrued expenses ............................................            300
                                                                    -----------
       Total current liabilities ...............................        168,755



Stockholders' deficiency:
   Preferred stock, $0.0001 par value:
     Authorized 600,000 shares
     Issued and Outstanding 0 shares
   Series A convertible preferred stock, par value - $0.0001
     Authorized 400,000 shares
     Issued and Outstanding 90,000 shares ......................              9

     Liquidation value of $450,000

Common Stock, par value - $0.0001

     Authorized - 50,000,000 shares

     Issued and outstanding - 20,500,000 .......................          2,050

Additional paid-in capital .....................................      2,207,139

Accumulated other comprehensive income .........................           --

Accumulated deficit ............................................     (2,377,953)
                                                                    -----------

       Total stockholders' deficiency ..........................       (168,755)

   TOTAL LIABILITIES AND STOCKHOLDER' DEFICIENCY ...............    $      --
                                                                    ===========

</TABLE>

        The notes to the Condensed Consolidated Financial Statements are
an integral part of these statements.


<PAGE>

                          HUGO INTERNATIONAL TELECOM6
                                AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
              FOR THE THREE MONTHS ENDED MARCH 31, 2004 (UNAUDITED)
                              AND 2003 (UNAUDITED)
<TABLE>
<CAPTION>

                                                              03/31/04       03/31/03
                                                             -------------------------

Revenues:
<S>                                                          <C>           <C>
   Cost of revenues ......................................   $      --     $      --
Gross Profit .............................................          --            --
                                                             -----------   -----------

Operating expenses:
   Selling, general and administrative expenses ..........          --            --
                                                             -----------   -----------
Income/(loss) from continuing operations before taxes ....          --            --

Provision for income taxes ...............................          --            --
                                                             -----------   -----------

Income from continuing operations ........................          --            --
Income/(loss) from discontinued operations ...............          --            --
                                                             -----------   -----------

Net income ...............................................   $      --     $      --
                                                             ===========   ===========

Basic income/(loss) attributable to common shareholders:
   Continuing operations .................................   $      --     $      --
   Discontinued Operations ...............................   $      --     $      --

Diluted income/(loss) attributable to common shareholders:
   Continuing Operations .................................   $      --     $      --
   Discontinued Operations ...............................   $      --     $      --

Weighted average shares of common stock
   Outstanding basic and dilutive ........................    20,500,000    20,500,000

</TABLE>


        The notes to the Condensed Consolidated Financial Statements are
an integral part of these statements.




<PAGE>


                   HUGO INTERNATIONAL TELECOM AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR THE THREE MONTHS ENDED MARCH 31, 2004 (UNAUDITED)
                              AND 2003 (UNAUDITED)

<TABLE>
<CAPTION>

                                                               03/31/04              03/31/03
                                                        -------------------------------------------


Cash flow from operating activities
<S>                                                     <C>                     <C>
   Income/(loss) from continuing operations ....        $                --     $               --
                                                        ---------------------   --------------------

     Net cash from operating activities ........                         --                     --

     Net cash from investing activities ........                         --                     --

     Net cash from financing activities ........                         --                     --
                                                       ----------------------   --------------------

Net increase/(decrease) in cash ................                         --                     --
Cash, beginning of period ......................                         --                     --
                                                       ----------------------   --------------------
Cash, end of period ............................       $                 --     $               --
                                                       ======================   ====================


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Cash paid during the period for:
   Interest ....................................       $                 --     $               --
   Income Taxes ................................       $                 --     $               --

</TABLE>




                     The notes to the Consolidated Financial Statements are an
                       integral part of these statements.



<PAGE>


               HUGO INTERNATIONAL TELECOM, INC., AND SUBSIDIARIES
        NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

1        SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Hugo  International  Telecom,  Inc. ("we", the "Company" or "Hugo") is a holding
company that no longer has any  operating  subsidiaries.  The  company's  former
operating  subsidiaries,   Hugo  International  Limited  (`Hugo  UK")  and  Hugo
International  (Ireland) Ltd. (Hugo  Ireland),  went through formal  liquidation
procedures.  These two defunct subsidiaries  supplied cellular telephone,  radio
and wireless data  communications  solutions to business customers  primarily in
the British Isles.

BASIS OF PRESENTATION

The consolidated  condensed  interim financial  statements  included herein have
been  prepared  by the  Company,  pursuant to the rules and  regulations  of the
Securities  and Exchange  Commission  with regard to Regulation  S-B and, in the
opinion of management,  include in all  adjustments  which,  except as described
elsewhere  herein,  are  of a  normal  recurring  nature,  necessary  for a fair
presentation of the financial  position,  results of operations,  and cash flows
for the periods  presented.  The results for interim periods are not necessarily
indicative of results for the entire year.  The financial  statements  presented
herein should be read in connection  with the financial  statements  included in
the Company's Annual Report on Form 10-KSB for the year ended December 31, 2003.

PRINCIPLES OF CONSOLIDATION

The Company is currently a shell with no operating  activities.  No subsidiaries
are included for 2003 or 2004.

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 revenue and expenses during
the reporting period. Actual results could differ from those estimates.

2        CONTINGENCIES

The wholly owned subsidiary,  Hugo International  Telecom,  Ltd. (`Limited') was
placed into  administrative  status of the UK bankruptcy  code as of October 12,
2001. If Limited fails to honor certain of its contractual  obligations  because
of the  bankruptcy  filing or otherwise,  claims may be made against the Company
for  breaches  by Limited of those  contracts  as to which we are  primarily  or
secondarily liable as a guarantor.  In addition,  Limited bankruptcy might bring
certain  claims  against  the  Company  or seek to hold the  Company  liable for
certain   transfers  made  by  Limited  to  the  Company  and/or  for  Limited's
obligations  to creditors  under various  equitable  theories  recognized  under
bankruptcy law. As of January 13, 2006,  there have been no claims filed against
the Company or any of its current or former officers or directors, and we do not
expect  any  material  claims to be  filed.  However,  the  outcome  of  complex
litigation  (including  claims  which  may be  asserted  against  us)  cannot be
predicted  with  certainty  and its  dependent  upon  many  factors  beyond  the
Company's  control;  however,  any such  claims,  if  successful,  could  have a
material  adverse  impact on the  Company's  financial  condition.  We may incur
additional  costs in connection  with the Company's  involvement  in the Limited
bankruptcy proceedings.


<PAGE>

               HUGO INTERNATIONAL TELECOM, INC., AND SUBSIDIARIES


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

                           Forward Looking Statements

In  addition  to  historical   information,   this  Quarterly   Report  contains
forward-looking statements, which are generally identifiable by use of the words
"believes,"  "expects,"  "intends,"   "anticipates,"  "plans  to,"  "estimates,"
"projects," or similar expressions. These forward-looking statements are subject
to certain  risks and  uncertainties  that could cause actual  results to differ
materially from those  reflected in these  forward-looking  statements.  Factors
that might  cause such a  difference  include,  but are not  limited  to,  those
discussed in the section entitled "Business Risk Factors." Readers are cautioned
not to place undue reliance on these forward-looking  statements,  which reflect
management's  opinions only as of the date hereof. We undertake no obligation to
revise or publicly release the results of any revision to these  forward-looking
statements.  Readers should carefully review the risk factors described in other
documents  Hugo  International  Telecom,  Inc.  files from time to time with the
Securities and Exchange Commission (the "SEC"),  including the Quarterly reports
on Form 10QSB to be filed by us in the future fiscal years.


OVERVIEW

Hugo  International  Telecom,  Inc. was a holding company.  It no longer has any
operating   subsidiaries.   In  the  past  its  operating   subsidiaries,   Hugo
International  Limited, and Hugo International Ltd. supplied cellular telephone,
radio and wireless data communications solutions to business customers primarily
in the British Isles who sought to improve  their  customer  service  levels and
control their communications costs. Both of these operating  subsidiaries are no
longer in  operation.  Hugo  Ireland  was closed in 2002 and Hugo  International
limited was wound down in 2003.  The Company lost  significant  capabilities  of
influencing the day to day operations from the administrator in October of 2001.

The Company  incorporated  in the State of  Delaware  on  February  17, 2000 and
acquired our now defunct Hugo  International  Limited  operating  subsidiary  on
February 24, 2000 and our defunct Hugo Ireland  operating  subsidiary on July 1,
2001.

BUSINESS RISK FACTORS

There are many  important  factors that have  affected,  and in the future could
affect, Hugo International Telecom's business,  including but not limited to the
factors discussed below,  which should be reviewed carefully together with other
information contained in this report. Some of the factors are beyond our control
and future trends are difficult to predict.

The Company is not a going concern.

The accompanying  consolidated  financial statements have been prepared assuming
that the Company will continue as a going concern.  The Company,  however,  is a
shell company without any  operations.  As of September 30, 2005 the Company did
not have any cash, and current liabilities  exceeded current assets by $197,872.
These matters raise substantial doubt about the Company's ability to continue as
a going concern.



<PAGE>




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

BUSINESS RISK FACTORS (CONTINUED)

The bankruptcy  proceeding of our Hugo International  Telecom,  Ltd., subsidiary
exposes us to risks and uncertainties.

The wholly owned subsidiary,  Hugo International  Telecom,  Ltd. (`Limited') was
placed into administrative status of the UK bankruptcy code as of October, 2001.
Limited  was  restated  as a  discontinued  operation  through  the  date of the
bankruptcy filing for financial  statement purposes and was deconsolidated as of
the bankruptcy date for financial statement purposes.  If Limited fails to honor
certain  of its  contractual  obligations  because of the  bankruptcy  filing or
otherwise,  claims  may be made  against  us for  breaches  by  Limited of those
contracts as to which we are primarily or secondarily liable as a guarantor.  In
addition,  Limited  bankruptcy  might bring certain claims against us or seek to
hold us liable for certain  transfers made by Limited to us and/or for Limited's
obligations  to creditors  under various  equitable  theories  recognized  under
bankruptcy law. As of January 13, 2006,  there have been no claims filed against
the Company or any of its current or former officers or directors, and we do not
expect  any  material  claims to be  filed.  However,  the  outcome  of  complex
litigation  (including  claims  which  may be  asserted  against  us)  cannot be
predicted with certainty and its dependent upon many factors beyond our control;
however, any such claims, if successful, could have a material adverse impact on
our financial  condition.  Finally,  we may incur additional costs in connection
with out involvement in the Limited bankruptcy proceedings.

The  Company is not likely to hold annual  shareholder  meetings in the next few
years.

Delaware  corporation law provides that members of the board of directors retain
authority  to act  until  they are  removed  or  replaced  at a  meeting  of the
shareholders.  A  shareholder  may petition  the  Delaware  Court of Chancery to
direct that a shareholders  meeting be held. But absent such a legal action, the
board has no obligation to call a  shareholders  meeting.  Unless a shareholders
meeting is held, the existing directors elect directors to fill any vacancy that
occurs on the board of directors. The shareholders,  therefore,  have no control
over the constitution of the board of directors,  unless a shareholders  meeting
is held.  Management  does not expect to hold annual meetings of shareholders in
the next few years, due to the expense involved. Kevin Kreisler is currently the
sole  director of the Company and was appointed to that position by the previous
directors. If other directors are added to the Board in the future, it is likely
that Mr.  Kreisler  will appoint  them.  As a result,  the  shareholders  of the
Company will have no effective  means of exercising  control over the operations
of the Company.

Some of our  existing  stockholders  can exert  control over us and may not make
decisions that further the best interests of all stockholders.

Our   officers,   directors  and   principal   stockholders   (greater  that  5%
stockholders)  together  control  approximately  67% of our voting  stock.  As a
result,  these stockholders,  if they act individually or together,  may exert a
significant degree of influence over our management and affairs and over matters
requiring stockholder approval, including the election of directors and approval
of  significant  corporate  transactions.  In addition,  this  concentration  of
ownership  may delay or prevent a change in  control of us and might  affect the
market  price of our common  stock,  even when a change in control may be in the
best  interest  of  all  stockholders.   Furthermore,   the  interests  of  this
concentration  of ownership  may not always  coincide  with our interests or the
interests of other  stockholders and  accordingly,  they could cause us to enter
into transactions or agreements which we would not otherwise consider.

Investing in our stock is highly  speculative  and you could lose some or all of
your investment.

The value of our common stock may decline and may be affected by numerous market
conditions, which could result in the loss of some or the entire amount invested
in our stock. The securities  markets  frequently  experience  extreme price and
volume  fluctuations  that affect  market  prices for  securities  of  companies
generally and very small capitalization companies such as us in particular.



<PAGE>



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

BUSINESS RISK FACTORS (CONTINUED)

Our common stock  qualifies as a "penny stock" under SEC rules which may make it
more difficult for our stockholders to resell their shares of our common stock.

The holders of our common stock may find it more  difficult  to obtain  accurate
quotations  concerning  the  market  value of the stock.  Stockholders  also may
experience greater  difficulties in attempting to sell the stock than if it were
listed on a stock exchange or quoted on the NASDAQ National Market or the NASDAQ
Small-Cap Market. Because our common stock does not trade on a stock exchange or
on the NASDAQ National  Market or the NASDAQ  Small-Cap  Market,  and the market
price of the  common  stock is less  than  $5.00 per  share,  the  common  stock
qualifies as a "penny stock." SEC Rule 15g-9 under the  Securities  Exchange Act
of 1934 imposes  additional sales practice  requirements on broker-dealers  that
recommend  the purchase or sale of penny stocks to persons  other than those who
qualify as an "established  customer" or an "accredited investor." This includes
the  requirement  that  a  broker-dealer   must  make  a  determination  on  the
appropriateness  of  investments  in penny stocks for the customer and must make
special  disclosures  to the  customer  concerning  the  risks of penny  stocks.
Application  of the penny  stock  rules to our common  stock  affects the market
liquidity of the shares,  which in turn may affect the ability of holders of our
common stock to resell the stock.

Only a small portion of the investment  community  will purchase  "penny stocks"
such as our common stock.

Our common stock is defined by the SEC as a "penny stock" because it trades at a
price  less than  $5.00 per share.  Our  common  stock  also  meets most  common
definitions  of a "penny  stock," since it trades for less than $1.00 per share.
Many brokerage  firms will  discourage  their  customers from  purchasing  penny
stocks,  and even more brokerage firms will not recommend a penny stock to their
customers.  Most  institutional  investors  will not invest in penny stocks.  In
addition,  many  individual  investors  will not  consider a purchase of a penny
stock due, among other things, to the negative reputation that attends the penny
stock market.  As a result of this  widespread  disdain for penny stocks,  there
will be a limited  market  for our  common  stock as long as it remains a "penny
stock." This situation may limit the liquidity of your shares.

<PAGE>

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The preparation of our  consolidated  financial  statements  requires us to make
estimates that affect the reported amounts of assets, liabilities,  revenues and
expenses.  The  following  are the areas that we believe  require  the  greatest
amount of estimates in the preparation of our financial statements.

As described  more fully in Note 2 to the financial  statements,  Contingencies,
above,  we are  subject  to  legal  proceedings,  which we have  assumed  in our
consolidation  process.  Accruals are established for legal matters when, in our
opinion,  it is probable  that a  liabilities  exists and the  liability  can be
reasonably estimated.  Estimates of the costs associated with dispute settlement
are adjusted as facts emerge.  Actual  expenses  incurred in future  periods can
differ materially from accruals established.


INCOME/(LOSS) FROM DISCONTINUED OPERATIONS

Income from discontinued operations, net, was $0 for the quarter ended March 31,
2004 and March 31, 2003, respectively.

LIQUIDITY AND CAPITAL RESOURCES

The Company had a working capital deficit of $168,755 as of March 31, 2004.

The  company  had  no  cash  balance  as  of  March  31,  2004.   There  remains
approximately  $168,455  of  accounts  payable  and  $300  of  accrued  expenses
unsettled as of March 31, 2004.

The company has  incurred  continued  operating  losses,  has  negative  working
capital and liabilities exceed assets as of March 31, 2004. These conditions are
due to the  winding  down  process  are  expected  them to  continue  until  new
operating  subsidiaries  are acquired or final  resolution  of  liabilities  are
completed.

<PAGE>


ITEM 3.  CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Our  principal   executive   officer  and  principal   financial   officer  have
participated  in and supervised  the  evaluation of our disclosure  controls and
procedures (as defined in Rules 13(a)-15(e) and 15(d)-15(e) under the Securities
Exchange  Act of 1934,  as amended  (the  "Exchange  Act")) that are designed to
ensure that  information  required to be  disclosed by us in the reports that we
file is recorded,  processed,  summarized  and reported  within the time periods
specified  in  the  Securities  and  Exchange   Commission's  rules  and  forms.
Disclosure  controls and procedures include,  without  limitation,  controls and
procedures  designed to ensure that the information  required to be disclosed by
us in the reports that we file or submit  under the Exchange Act is  accumulated
and communicated to our management, including our principal executive officer or
officers and principal  financial officer,  to allow timely decisions  regarding
required disclosure.  Hugo International Telecom, Inc.'s chief executive officer
and chief financial officer determined that, as of the end of the period covered
by this report;  these  controls and  procedures  are adequate and  effective in
alerting  them in a timely  manner  to  material  information  relating  to Hugo
International  Telecom,  Inc.  required  to be  included  in Hugo  International
Telecom, Inc's periodic SEC filings.

CHANGES IN INTERNAL CONTROLS

There was no change in internal controls over financial reporting (as defined in
Rule 13a-15(f) promulgated under the Securities Exchange Act or 1934) identified
in connection  with the  evaluation  described in the preceding  paragraph  that
occurred during the first quarter of Hugo's 2004 fiscal year that has materially
affected or is reasonably  likely to materially  affect Hugo's internal  control
over financial reporting.





<PAGE>


                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

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

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

The following are exhibits filed as part of the Company's Form 10-QSB for the
period ended March 31, 2004:

Exhibit Number         Description

     31.1 Certification of Chief Executive  Officer and Chief Financial  Officer
          pursuant to Exchange Act Rules 13a-15(e) and 15d-15(e)

     32.1 Certification of Chief Executive  Officer and Chief Financial  Officer
          pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906
          of the Sarbanes-Oxley Act of (2002.)


<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 on the date indicated. HUGO
INTERNATIONAL TELECOM, INC.


By:             /s/ Kevin Kreisler
                ----------------------------------
                    Kevin Kreisler
                    Chief Executive Officer and Chief Financial Officer
Date:               January 24. 2006