U.S. 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 UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934 for the transition period from _______ to _______


                                 XENICENT, INC.
                                 --------------
        (Exact name of small business issuer as specified in its charter)


     North Carolina                              36-4344865
     --------------                              ----------
(State or other jurisdiction of                 (IRS Employer
incorporation or organization)                identification No.)


               18 Brookmont Drive, Wilbraham, Massachusetts 01095
               --------------------------------------------------
                    (Address of principal executive offices)

                                 (413) 599-0005
                                 --------------
                           (Issuer's telephone number)





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

Number of shares of common stock outstanding as of
November 14, 2002: 10,152,000

Number of shares of preferred stock outstanding as of
November 14, 2002: -0-










<TABLE>
<CAPTION>


                           XENICENT, INC. & SUBSIDIARY
                     CONSOLIDATED BALANCE SHEETS (UNAUDITED)
                              AT SEPTEMBER 30, 2002

<S>                                        <C>

                                     ASSETS
                                     ------

CURRENT ASSETS
-----------------------------------------
  Cash. . . . . . . . . . . . . . . . . .  $   80,734
  Accounts receivable, net. . . . . . . .     395,111
  Inventory . . . . . . . . . . . . . . .     695,768
  Note receivable . . . . . . . . . . . .       3,759
  Prepaid expenses. . . . . . . . . . . .     116,378
  Other current assets. . . . . . . . . .      75,727
                                          ------------
  TOTAL CURRENT ASSETS. . . . . . . . . .   1,367,477
                                          ------------

PROPERTY, PLANT AND EQUIPMENT
-----------------------------------------
  Land. . . . . . . . . . . . . . . . . .     386,434
  Buildings and improvements. . . . . . .      38,495
  Machinery and equipment . . . . . . . .       4,910
  Furniture and office equipment. . . . .      43,713
  Accumulated depreciation. . . . . . . .      (4,052)
                                          ------------
  NET PROPERTY, PLANT AND EQUIPMENT . . .     469,500
                                          ------------

OTHER ASSETS
-----------------------------------------
  Investment in non-marketable securities     255,000
  Deposits. . . . . . . . . . . . . . . .      52,847
                                          ------------
  TOTAL OTHER ASSETS. . . . . . . . . . .     307,847
                                          ------------
    TOTAL ASSETS. . . . . . . . . . . . .  $2,144,824
                                          ============
</TABLE>













    The accompanying notes are an integral part of these financial statements











<TABLE>
<CAPTION>


                           XENICENT, INC. & SUBSIDIARY
                  CONSOLIDATED BALANCE SHEETS-CONT' (UNAUDITED)
                              AT SEPTEMBER 30, 2002

<S>                                                                <C>

                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------
CURRENT LIABILITIES
-----------------------------------------------------------------
  Accounts payable. . . . . . . . . . . . . . . . . . . . . . . .  $  108,982
  Short-term borrowings . . . . . . . . . . . . . . . . . . . . .     588,235
  Notes payable . . . . . . . . . . . . . . . . . . . . . . . . .     121,585
  Loan from stockholder . . . . . . . . . . . . . . . . . . . . .      30,290
  Due to related parties. . . . . . . . . . . . . . . . . . . . .     249,646
  Other current liabilities . . . . . . . . . . . . . . . . . . .      17,377
                                                                 -------------
    TOTAL CURRENT LIABILITIES . . . . . . . . . . . . . . . . . .   1,116,115
                                                                 -------------

MINORITY INTEREST . . . . . . . . . . . . . . . . . . . . . . . .     522,774
                                                                 -------------

STOCKHOLDERS' EQUITY
-----------------------------------------------------------------
  Preferred stock ($.001 par value, 5,000,000 shares authorized:
   none issued and outstanding) . . . . . . . . . . . . . . . . .         -0-
  Common stock ($.001 par value, 50,000,000 shares authorized:
  10,152,000 issued and outstanding at September 30, 2002). . . .      10,152
  Additional paid-in-capital. . . . . . . . . . . . . . . . . . .   1,227,390
  Retained deficit. . . . . . . . . . . . . . . . . . . . . . . .    (731,607)
  Cumulative foreign currency translation amount. . . . . . . . .         -0-
                                                                 -------------
    TOTAL STOCKHOLDERS' EQUITY. . . . . . . . . . . . . . . . . .     505,935
                                                                 -------------
    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY. . . . . . . . . .  $2,144,824
                                                                 =============
</TABLE>





    The accompanying notes are an integral part of these financial statements


<TABLE>
<CAPTION>



                                XENICENT, INC. & SUBSIDIARY
                     CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
              FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001

<S>                                     <C>           <C>          <C>          <C>

                                   Three months ended Sept. 30, Nine months ended Sept. 30,
                                               2002         2001         2002         2001
                                     ------------------------------------------------------
REVENUE AND COST OF SALES:
--------------------------------------
  Sales. . . . . . . . . . . . . . . .  $   237,296   $      -0-   $  237,296   $      -0-
  Cost of sales. . . . . . . . . . . .     (138,410)         -0-     (138,410)         -0-
                                      --------------  -----------  ------------  ----------
    Gross Profit . . . . . . . . . . .       98,886            -       98,886            -
                                      --------------  -----------  ------------  ----------
OPERATING EXPENSES:
--------------------------------------
  Selling, general and administrative.      241,519        9,754      339,864       39,798
                                      --------------  -----------  ------------  ----------
    TOTAL EXPENSES . . . . . . . . . .      241,519        9,754      339,864       39,798
                                      --------------  -----------  ------------  ----------
      OPERATING LOSS . . . . . . . . .     (142,633)      (9,754)    (240,978)     (39,798)
                                      --------------  -----------  ------------  ----------
OTHER (EXPENSE):
--------------------------------------
  Interest income. . . . . . . . . . .          294          -0-          294          -0-
  Interest expense . . . . . . . . . .       (7,035)        (108)      (7,145)      (1,581)
  Other income (expense) . . . . . . .        2,712          -0-        2,712          -0-
                                      --------------  -----------  ------------  ----------
    TOTAL OTHER (EXPENSE). . . . . . .       (4,029)        (108)      (4,139)      (1,581)
                                      --------------  -----------  ------------  ----------
      LOSS BEFORE TAXES
      AND MINORITY INTERESTS . . . . .     (146,662)      (9,862)    (245,117)     (41,379)
                                      --------------  -----------  ------------  ----------
      INCOME TAX PROVISION . . . . . .          -0-          -0-          -0-          -0-

      NET LOSS BEFORE
      MINORITY INTERESTS . . . . . . .     (146,662)      (9,862)    (245,117)     (41,379)

      MINORITY INTERESTS . . . . . . .       10,670          -0-       10,670          -0-
                                      --------------  -----------  ------------  ----------
      NET LOSS . . . . . . . . . . . .  $  (135,992)  $   (9,862)  $ (234,447)  $  (41,379)
                                      ==============  ===========  ============  ==========
  Net loss per common share
  Basic & fully diluted. . . . . . . .  $     (0.01)  $    (0.01)  $    (0.03)  $    (0.01)
                                      ==============  ===========  ============  ==========
  Weighted average common
  shares outstanding . . . . . . . . .   10,152,000    8,832,000    9,280,667    8,832,000
                                      ==============  ===========  ============  ==========

</TABLE>




    The accompanying notes are an integral part of these financial statements




<TABLE>
<CAPTION>


                           XENICENT, INC. & SUBSIDIARY
                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001



<S>                                                    <C>         <C>
                                                            2002       2001
CASH FLOWS FROM OPERATING ACTIVITIES:
-----------------------------------------------------
  Net loss. . . . . . . . . . . . . . . . . . . . . .  $(234,447)  $(41,379)
  Adjustments to reconcile net loss to net
  cash used in operating activities:
    Minority interests. . . . . . . . . . . . . . . .     10,670        -0-
    Depreciation. . . . . . . . . . . . . . . . . . .      2,759        510
    Common stock issued for services. . . . . . . . .     85,675        -0-
    Interest accrual. . . . . . . . . . . . . . . . .        270        -0-
    (Increase )decrease in operating assets:
      Accounts receivable . . . . . . . . . . . . . .   (122,600)       -0-
      Inventory . . . . . . . . . . . . . . . . . . .     49,572        -0-
      Prepaid expenses. . . . . . . . . . . . . . . .     43,570        -0-
      Recoverable income taxes. . . . . . . . . . . .        -0-     12,700
      Deposits. . . . . . . . . . . . . . . . . . . .    (63,066)       -0-
      Other assets. . . . . . . . . . . . . . . . . .    (67,674)       -0-
    Increase (decrease) in operating liabilities:
      Accounts payable and accrued expenses . . . . .     38,122        -0-
                                                       ----------  ---------
      NET CASH USED IN OPERATING ACTIVITIES . . . . .   (257,149)   (28,169)
                                                       ----------  ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
-----------------------------------------------------
  Purchase of subsidiary assets net of cash . . . . .     43,476        -0-
  Other investment activities . . . . . . . . . . . .     (5,713)       -0-
                                                       ----------  ---------
      NET CASH PROVIDED BY INVESTING ACTIVITIES . . .     37,763        -0-
                                                       ----------  ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
-----------------------------------------------------
  Proceeds from short-term notes. . . . . . . . . . .    291,265        -0-
  Repayments on notes payable . . . . . . . . . . . .    (37,884)       -0-
  Proceeds from stockholder loans . . . . . . . . . .     35,520        324
                                                       ----------  ---------
      NET CASH PROVIDED BY FINANCING ACTIVITIES . . .    288,901        324
                                                       ----------  ---------

      NET INCREASE (DECREASE) IN CASH AND . . . . . .     69,515    (27,845)
      CASH EQUIVALENTS
                                                       ----------  ---------
CASH AND CASH EQUIVALENTS:
-----------------------------------------------------
      Beginning of year . . . . . . . . . . . . . . .     11,219     44,729
      End of period . . . . . . . . . . . . . . . . .  $  80,734   $ 16,884
                                                       ==========  =========

SUPPLEMENTAL CASH FLOW DISCLOSURES AND NON-CASH
-----------------------------------------------------
FINANCING INFORMATION:
-----------------------------------------------------
  Common stock issued in connection with acquisitions  $ 519,000   $    -0-
                                                       ==========  =========
  Common stock issued for services. . . . . . . . . .  $ 226,300   $    -0-
                                                       ==========  =========
</TABLE>



    The accompanying notes are an integral part of these financial statements





                           XENICENT, INC. & SUBSIDIARY
                          NOTES TO FINANCIAL STATEMENTS
                         September 30, 2002 (UNAUDITED)


ITEM 1.
-------

NOTE 1 - BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial  information  and  pursuant  to  the  rules  and  regulations  of  the
Securities  and Exchange Commission. Accordingly, they do not include all of the
information  and  footnotes required by generally accepted accounting principles
for  complete  financial  statements.

In  the  opinion  of  management, the unaudited condensed consolidated financial
statements  contain all adjustments consisting only of normal recurring accruals
considered  necessary  to  present  fairly  the  Company's financial position at
September  30,  2002,  the  results  of  operations for the three and nine month
periods  ended  September  30, 2002 and 2001, and cash flows for the nine months
ended  September  30,  2002 and 2001. The results for the period ended September
30,  2002,  are not necessarily indicative of the results to be expected for the
entire  fiscal  year  ending  December  31,  2002. This report should be read in
conjunction  with the annual report on Form 10-KSB filed with the Securities and
Exchange  Commission.

NOTE 2 - INVESTMENTS

In  June  2002,  the  Company  acquired  500,000  shares  of the common stock of
Traderight  Corp.,  a  licensed  securities broker-dealer located in Boca Raton,
Florida  in exchange for 300,000 shares of the Company's common stock. The stock
was  valued at the market price on date of issuance, or $.85 per share, yielding
an  aggregate  market  value  of  $255,000.

NOTE 3 - ACQUISITION

In  June 2002, the Company acquired sixty percent of the common stock of Giantek
Technology  Corporation,  a  Taiwanese  corporation.  The Company issued 660,000
shares  of its common stock in payment for the acquisition. The stock was valued
at  the  market  price  on  the date of issuance, or $.40 per share, yielding an
aggregate  market value of $264,000. The Company also agreed to provide $750,000
in  funding  to Giantek Technology Corporation to develop products and expand it
marketing  efforts.  In  addition,  100,000 shares of the Company's common stock
will  be  issued  for employees of Giantek for services over the next two years.
The  expense of the services will be charged to operations when the services are
rendered.








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

With  the  exception of historical facts stated herein, the matters discussed in
this  report  are  "forward  looking"  statements  that  involve  risks  and
uncertainties  that  could  cause  actual  results  to  differ  materially  from
projected  results.  Such  "forward  looking"  statements  include,  but are not
necessarily  limited  to,  statements  regarding  anticipated  levels  of future
revenues and earnings from operations of the Company. Readers of this report are
cautioned  not to put undue reliance on "forward looking" statements, which are,
by  their  nature,  uncertain  as reliable indicators of future performance. The
Company  disclaims  any  intent  or obligation to publicly update these "forward
looking"  statements,  whether as a result of new information, future events, or
otherwise.  In  addition  the  uncertainties  include,  but  are  not limited to
competitive  conditions  involving  the  real  estate  market.

GENERAL  DESCRIPTION  OF  BUSINESS
----------------------------------

Business Development.

We  were  incorporated  in  North  Carolina  on  July  26,  1996  as  Great Land
Development  Co.  We  changed  our  name  to Xenicent, Inc. on November 8, 2000.
Since  our  incorporation  as Great Land Development Co., we have engaged in the
business of real estate consulting and purchasing and reselling vacant tracts of
land,  primarily  in  the  North  Carolina  area. On June 30, 2002 we acquired a
majority  interest  in  Giantek  Technology  Corporation  "Giantek", a Taiwanese
corporation that manufactures and distributes Light Emitting Diode (LED) display
systems. Information on this acquisition is contained in this report and in Form
8-K  filed on July 15, 2002. We have never been the subject of any bankruptcy or
receivership.

GIANTEK TECHNOLOGY CORPORATION
------------------------------

On  June  30,  2002, the Company signed a definitive share exchange agreement to
acquire  a  sixty  percent  (60%)  interest  in  Giantek  Technology Corporation
("Giantek")  in  exchange  for  600,000 shares of the Company's common stock. In
addition,  the  Company  issued 60,000 shares to a consultant in connection with
the  acquisition.

Giantek Technology Corporation, Inc. (the "Company") is a supplier of electronic
display  boards, computer-programmable display systems, and large video displays
for sport, business, and transportation applications. Its focus is on supporting
customers  with  superior  products and services that provide dynamic, reliable,
and  often  unique,  visual  communication  solutions.  Its  products  include a
complete  line  of  large  display  products,  from  small  indoor  and  outdoor
scoreboards and displays, to large, multi-million dollar, video display systems.
It  is  recognized  worldwide  as  a  technical  leader with the capabilities to
design,  manufacture,  install  and  service  complete  integrated  systems that
display  real-time  data,  graphics,  animation  and  video. Giantek maintains a
website  profiling  its  background  and  products  at  www.giantek-led.com.


RESULTS  OF  OPERATIONS
-----------------------

Net  Loss

The  Company had a net loss of $135,992, or $.01 per common share, for the three
months  ended  September  30, 2002, versus a net loss of $9,862, or $.01 for the
same period ended September 30, 2001. The Company had a net loss of $234,447, or
$.03  per common share for the nine months ended September 30, 2002 versus a net
loss  of  $41,379,  or  $.01  for  the same period ended September 30, 2001. The
change  in net loss from the prior year was primarily due to $85,675 in non-cash
expenses  related  to  stock issued for professional services and the $26,500 in
operating  losses  from  our  subsidiary,  Giantek  Technology  Corp.

Sales

Sales for the three and nine months ended September 30, 2002 were $237,296 which
were  exclusively  from the sales of LED display systems from Giantek Technology
Corp.  We  did  not have any sales during the 2001 periods. Sales were primarily
from unrelated international entities. We are currently training a sales team of
several  consultants  in  the  United  States  to  increase  of  domestic sales.

Expenses

Operating  expenses  for  the three months ended September 30, 2002 increased to
$241,519  from  $9,754  in the same period in 2001. In comparison with the three
month  period  ended  September  30,  2001,  travel expense and office increased
$3,710.  Professional  fees increased to $85,675 in connection with stock issued
for  professional  services.  The Company issued 250,000 of its common stock for
payment of these services which were valued at the date of issuance, or $.80 per
share,  yielding  an aggregate amount of $187,500. This amount will be amortized
equally  over  the  three  quarters  for  which  the contract covers and ends on
December  31, 2002. The difference of $70,312 is included under prepaid expenses
in  the  accompanying  balance  sheet.

Liquidity  and  Capital  Resources

On  September  30, 2002, the Company had cash of $80,734 and $251,362 in working
capital.  This  compares  with cash of $16,884 and working capital of $11,050 at
September  30,  2001.  The  change  in  working capital was due primarily to the
acquisition  and  consolidation  of  our  new  subsidiary,  Giantek  Technology
Corporation.

Net  cash  flows  used in operating activities were $257,149 for the nine months
ended  September 30, 2002 as compared with net cash used in operating activities
of $28,169 for the period ended September 30, 2001. The decrease in cash used in
operations was primarily attributable to the net loss for the current quarter as
compared  to  the prior year's quarter, partially offset by the $85,675 in stock
issued  for  services.

Net  cash flows provided by investing activities was $37,763 for the nine months
ended  September  30, 2002 as compared with $0 in the comparable period in 2001.
The  change  in cash provided by investing activities was primarily the net cash
position  acquired  in  the  Giantek  Technology  Corporation  share  exchange.

Net cash flows provided by financing activities was $288,901 for the nine months
ended September 30, 2002 as compared with $324 in the comparable period in 2001.
The  cash flows provided by financing activities were attributable to $35,520 in
loans  from our President, Mr. Duane Bennett and $291,265 in short-term notes to
finance  materials  purchases  that  will  be  used  in  our  products.

A  shareholder  loan to Duane Bennett, President and majority shareholder is not
evidenced  by  a  written  promissory  note  and bears simple interest at 6% per
annum.

     Overall, we have funded our cash needs from inception through September 30,
2002  with  a  series  of  debt  and  equity  transactions, primarily with Duane
Bennett,  our  President  and  majority stockholder. If we are unable to receive
additional  cash from our majority stockholder, we may need to rely on financing
from  outside  sources  through  debt  or equity transactions.  Our president is
under  no  legal  obligation  to  provide  us with capital infusions. Failure to
obtain  such  financing  could  have a material adverse effect on operations and
financial  condition.

     We  will  substantially  rely on the existence of revenue from our combined
businesses;  we  believe  our  current  cash position can along with current and
projected  revenues or capital reserves can sustain our business for the next 12
months.  However,  we  may  need  to obtain additional capital through equity or
debt  financing  to  sustain  operations  for  an  additional  year.  A  lack of
significant  revenues  beginning  in  the  first half of 2003 will significantly
affect  our  cash  position  and move us towards a position where the raising of
additional  funds  through  equity  or  debt  financing  will  be  necessary. In
addition,  modifications  to  our  business  plans  or  additional  property
acquisitions  may  require additional capital for us to operate. There can be no
assurance  that  additional  capital  will  be  available  to  us when needed or
available  on  terms  favorable  to  the  Company.

     On  a long-term basis, liquidity is dependent on continuation and expansion
of operations, receipt of revenues, and additional infusions of capital and debt
financing.  If  necessary,  we  will  raise needed capital through an additional
stock offering.  The funds raised from this offering will be used to develop our
business  as  well  as  expand  operations  and  contribute  to working capital.
However,  there  can  be  no assurance that we will be able to obtain additional
equity  or  debt  financing in the future, if at all.  If we are unable to raise
additional  capital, our growth potential will be adversely affected and we will
have  to  significantly  modify  our  plans.

     Demand  for  our product and services depend on, among other things, market
acceptance  of  our products and general economic conditions, which are cyclical
in  nature.  Inasmuch  as  a  major  portion of our activities is the receipt of
revenues  from  sales,  our business operations may be adversely affected by our
competitors  and  prolonged  recession  periods.

Our  success  will be dependent upon implementing our plan of operations and the
risks  associated  with  our business plans. We operate an international display
systems  sales  business.  We  also provide land development and land consulting
services to various unrelated developers and builders. We plan to strengthen our
position  in  these  markets.  We  plan  to  expand  our  operations through our
acquisition  and/or  development  of  land  parcels.



ITEM  3.     CONTROLS  AND  PROCEDURES
--------

(a)  On September 30, 2002, we made an evaluation of our disclosure controls and
procedures.  In our opinion, the disclosure controls and procedures are adequate
because  the  systems  of  controls and procedures are designed to assure, among
other  items, that 1) recorded transactions are valid; 2) valid transactions are
recorded;  and  3)  transactions  are  recorded in the proper period in a timely
manner  to  produce  financial  statements  which  present  fairly the financial
condition, results of operations and cash flows for the respective periods being
presented.  Moreover, the evaluation did not reveal any significant deficiencies
or  material  weaknesses  in  our  disclosure  controls  and  procedures.

(b)  There have been no significant changes in our internal controls or in other
factors  that  could  significantly  affect  these  controls  since  the  last
evaluation.


PART II. OTHER INFORMATION
--------

Item 1. Legal Proceedings

None.

Item 2. Changes in Securities

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 and Reports on Form 8-K

(a) Exhibits

3.  Articles  of  Incorporation  with  amendments and bylaws are incorporated by
reference  to  Exhibit  No.  1  of  Form  SB-2  as  amended  filed  April  2001.
99  Certification  of  Chief  Executive  Officer


(b)  Reports  on  Form  8-K

          None.





                                   SIGNATURES
                                   ----------

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                        XENICENT, INC.
                                        --------------
                                        (Registrant)


                                        /S/Duane Bennett, President
Date:  November 14, 2002                __________________________
                                        Duane Bennett, President