U.S. Securities and Exchange Commission
                     Washington, D.C. 20549

                          FORM 10-QSB

(Mark One)

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

        For the quarterly period ended June 30, 2001
                                      ---------------

[ ]     TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE
        ACT

        For the transition period from _________to_________

                  Commission file number 0-32097


                    Big Sky Industries V, Inc
----------------------------------------------------------------------
(Exact name of small business issuer as specified in its charter)


               Florida                              59-3647188
   --------------------------------            -------------------
   (State or other jurisdiction of               (I.R.S. Employer
     incorporation or organization)            Identification No.)


            211 Shellpoint West, Maitland, Florida 32751
            --------------------------------------------
              (Address of principal executive offices)

                          (407)-628-7033
                    ---------------------------
                    (Issuer's telephone number)

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING
THE PRECEDING FIVE YEARS

         Check whether the registrant filed all documents and reports
required to be filed by Section 12, 13 or 15(d) of the Exchange ACT after
the distribution of securities under a plan confirmed by a court.
Yes [   ]  No [   ]

                APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares outstanding of each of the Issuer's
classes of common equity, as of the latest practicable date: As of
June 30, 2001, 1,050,000 shares of the registrant's common stock,
$.001 par value, issued and outstanding.


Transitional Small Business Disclosure Format (Check one):  Yes [ ]   No [X]


<PAGE>

                     BIG SKY INDUSTRIES V, INC.
                   (A Development Stage Company)

                             FORM 10-QSB
                            June 30, 2001


INDEX                                                                 Page
                                                                     Number


                    PART 1- FINANCIAL INFORMATION

Item 1 -   Financial Statements

           Balance Sheets as of June 30, 2001 (unaudited)
           and as of September 30, 2000                                2

           Statement of Loss and Accumulated Deficit During
           The Development Stage for the three and nine months
           ended June 30, 2001 and 2000 (unaudited)                    3

           Statement of Cash Flows During The Development Stage
           for the nine months ended June 30, 2001 and 2000
           (unaudited)                                                 4

           Notes to Financial Statements (unaudited)                   5

Item 2 -   Management's Discussion and Analysis or Plan of Operation   5

                       PART II - OTHER INFORMATION

Item 1 -   Legal Proceedings                                           7

Item 2 -   Changes in Securities                                       7

Item 3 -   Defaults upon Senior Securities                             7

Item 4 -   Submission of Matters to a Vote of Security Holders         7

Item 5 -   Other Information                                           7

Item 6 -   Exhibits and Reports on Form 8-K                            7



<PAGE>

                        PART I - FINANCIAL INFORMATION



ITEM 1.  FINANCIAL STATEMENTS


                           BIG SKY INDUSTRIES V, INC.
                         (A Development Stage Company)

                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                  June 30,      September 30,
                                                                    2001            2000
                                                                -----------     ------------
                                                                (unaudited)
<S>                                                             <C>             <C>

ASSETS

  Cash                                                          $       204     $        955
                                                                -----------     ------------
TOTAL ASSETS                                                    $       204     $        955
                                                                ===========     ============

LIABILITIES AND STOCKHOLDERS' DEFICIT

  LIABILITIES

  Accrued expenses                                              $     3,401     $      2,967
                                                                -----------     ------------
TOTAL LIABILITIES                                                     3,401            2,967
                                                                -----------     ------------

STOCKHOLDERS' DEFICIT

  Preferred stock, no par value; 5,000,000 shares
    authorized,none outstanding
  Common stock, $.001 par value, 50,000,000 shares
    authorized 1,050,000 shares issued and outstanding                1,050            1,050
  Additional paid-in capital                                            165              165
  Deficit accumulated during the development stage                   (4,412)          (3,227)
                                                                -----------     ------------
TOTAL STOCKHOLDERS' DEFICIT                                          (3,197)          (2,012)
                                                                -----------     ------------

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                     $       204     $        955
                                                                ===========     ============
</TABLE>









The accompanying notes are an integral part of these financial statements.


                                  Page 2

<PAGE>


                          BIG SKY INDUSTRIES V, INC.
                        (A Development Stage Company)


    STATEMENT OF LOSS AND ACCUMULATED DEFICIT DURING THE DEVELOPMENT STAGE
                                  (Unaudited)


<TABLE>
<CAPTION>
                                                  Three Months Ended           Nine Months Ended
                                                       June 30,                     June 30,
                                                ------------------------    -----------------------
                                                                                         Inception:    Cumulative
                                                                                          1/31/2000      During
                                                                                             To        Development
                                                    2001          2000          2001       6/30/2000      Stage
                                                -----------   ----------     ----------   ----------   ------------
<S>                                             <C>           <C>            <C>          <C>

Revenues                                        $         -   $        -     $        -   $        -   $          -

General and administrative expenses                     395           65          1,185          215          4,412

Operating loss                                         (395)         (65)        (1,185)        (215)        (4,412)
                                                -----------   ----------     ----------   ----------   ------------

Provision for income taxes                                -            -              -            -              -

Net loss                                        $      (395)  $      (65)    $   (1,185)  $     (215)  $     (4,412)


Basic and diluted loss per share                $    (0.000)  $   (0.000)    $   (0.001)  $   (0.000)  $     (0.004)
                                                ===========   ==========     ==========   ==========   ============
Weighted average number of common
  shares outstanding
  (basic and diluted)                             1,050,000    1,050,000      1,050,000    1,050,000      1,050,000
                                                ===========   ==========     ==========   ==========   ============
</TABLE>








The accompanying notes are an integral part of these financial statements.


                                   Page 3

<PAGE>


                         BIG SKY INDUSTRIES V, INC.
                        (A Development Stage Company)

           STATEMENT OF CASH FLOWS DURING THE DEVELOPMENT STAGE
                                  (Unaudited)


<TABLE>
<CAPTION>
                                                                       Inception:
                                                                       January 31,
                                                        Nine Months       2000         Cumulative
                                                           Ended           To            During
                                                          June 30,       June 30,      Development
                                                            2001          2000            Stage
                                                        -----------    -----------     -----------
<S>                                                     <C>            <C>             <C>

CASH FLOWS FROM OPERATING ACTIVITIES:

  Net loss                                              $    (1,185)   $      (215)    $    (4,412)

  Adjustments to reconcile net loss to net
    cash used by operating activities:

  Common stock exchanged for services                             -             50              50
  Increase in accrued liabilities                               434              0           3,401
                                                        -----------    -----------     -----------
NET CASH USED BY OPERATING ACTIVITIES                   $      (751)   $      (165)    $      (961)
                                                        -----------    -----------     -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

  Sale of common stock                                            -              -           1,000
  Contribution of capital by shareholders                         -            165             165
                                                        -----------    -----------     -----------
NET CASH PROVIDED BY FINANCING ACTIVITIES                         -            165           1,165
                                                        -----------    -----------     -----------

NET INCREASE (DECREASE) IN CASH                                (751)             -             204

CASH AND EQUIVALENTS - BEGINNING OF PERIOD                      955              -               -
                                                        -----------    -----------     -----------
CASH AND EQUIVALENTS - END OF PERIOD                    $       204    $         -     $       204
                                                        ===========    ===========     ===========

SUPPLEMENTAL DISCLOSURES:

  Cash paid during the period for interest              $         -    $         -     $         -
                                                        ===========    ===========     ===========

  Cash paid during the period for income taxes          $         -    $         -     $         -
                                                        ===========    ===========     ===========
</TABLE>





The accompanying notes are an integral part of these financial statements.



                             Page 4

<PAGE>


                   BIG SKY INDUSTRIES V, INC.
                 (A Development Stage Company)
                 NOTES TO FINANCIAL STATEMENTS
                          (Unaudited)


1.   Nature of Business and Basis of Presentation

     Basis of Presentation

     Unaudited interim financial statements In the opinion of
management, the accompanying unaudited financial statements reflect
all adjustments, consisting only of normal recurring adjustments,
necessary for a fair presentation of the results for the interim
periods.  Certain footnote disclosures normally included in financial
statements prepared in accordance with accounting principles generally
accepted in the United States of America have been condensed or
omitted pursuant to SEC rules and regulations.  The preparation of
financial statements requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities
at the date of the financial statements and the reported amount of
revenue and expense during the reporting period.  Operating results
for the interim periods are not necessarily indicative of results for
the year ended September 30, 2001.

     Organization

     Big Sky Industries V, Inc. was incorporated in Florida on January
31, 2000.  The company was organized as a "shell" company and conducts
virtually no business operation, other than investigating
opportunities to associate with a suitable business partner and
identifying merger partners or acquisition candidates.  The Company is
a development stage enterprise, as defined by Financial Accounting
Standards, ("FAS") No 7, "Accounting and Reporting by Development
Stage Enterprises."


Item 2.   Management's Plan of Operation.

      Overview

      The following discussion "Management's Plan of Operation"
contains forward-looking statements.  The words "anticipate,"
"believe" "expect," "plan," "intend," "estimate," "project," "will,"
"could," "may," and similar expressions are intended to identify
forward-looking statements.  Such statements reflect the Company's
current views with respect to future events and financial performance
and involve risks and uncertainties.  Should one or more risks or
uncertainties occur, or should underlying assumptions prove incorrect,
actual results may vary materially and adversely from those
anticipated, believed, expected, planned, intended, estimated,
projected, or otherwise indicated.

      The following is qualified by reference to, and should be read
in conjunction with the Company's financial statements, and notes
thereto, included elsewhere in this Form 10-QSB, as well as the
discussion hereunder "Management's Plan of Operation."



                             Page 5

<PAGE>


      Plan of Operation

      Big Sky Industries V, Inc. is presently a development stage
company that conducts virtually no business operations, other than
investigating opportunities to effect a merger, exchange of capital
stock, asset acquisition, or other similar business combination (a
"Business Combination") with an operating or development stage
business ("Target Business"), which desires to employ the Company to
become a reporting corporation under the Securities Exchange Act of
1934.  To date, we have not engaged in any operations, nor have we
generated any revenue.

      We believe that we will have sufficient funds to support our
planned operations for the next twelve months.  If it becomes
necessary for us to raise additional funds to support normal
operations during the next twelve months, our principal shareholder
and founder, will advance funds as needed.  If we need to raise funds
beyond funds needed for normal operations, we may choose to sell
additional common stock, especially if we enter into an agreement to
effectuate a Business Combination with a Target Business.

      Since inception, we have received a cash infusion of $1,165.
With the exception of certain other professional fees and costs
related to a Business Combination, we expect that we will incur
minimal operating costs and, as indicated above, meet our cash
requirements during the next twelve months.  It is likely, however,
that a Business Combination might not occur during the next twelve
months.  In the event we deplete our present cash reserves prior to
completing a Business Combination transaction with a Target Business,
we may cease operations and a Business Combination may not occur.
      To date, we have not yet identified a Business Combination
opportunity; therefore, we are unable to predict our cash requirements
subsequent to a Business Combination with an unidentified Target
Business.  As indicated above, we may be required to raise capital
through the sale of or issuance of additional securities, in order to
ensure that we can meet our operating costs for the remainder of our
fiscal year, if we complete a Business Combination transaction with a
Target Business. In the event that we elect to raise additional
capital by selling common stock,  prior to, or in connection with,
completing a Business Combination transaction, we expect to do so
through the private placement of restricted securities.

      There are no agreements or understandings of any kind with
respect to any loans from officers or directors of the Company on
behalf of the Company, other than that describe above.

      Since our cash reserves are minimal, we have not compensated
our officers or directors; in the near term, we may compensate them
for their services by issuing them stock in lieu of cash.  Presently,
there are no arrangements or anticipated arrangements to pay any type
of additional compensation to any officer or director.  Regardless, of
whether our cash assets prove to be inadequate to meet our operational
needs, we might seek to compensate providers of services by the
issuance of stock in lieu of cash.




                             Page 6

<PAGE>


                  PART II.  OTHER INFORMATION



Item 1 - Legal Proceedings

     None

Item 2 - Changes in Securities

     None

Item 3 - Defaults upon Senior Securities

     None

Item 4 - Submissions 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.

     3.1   Registrant's Articles of Incorporation (1)
     3.2   Registrant's Bylaws (1)

     (b)   Reports on form 8-k

           No reports on Form 8-K were filed during the quarter
           ending June 30, 2001.

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

     (1)   Incorporated by reference to Registrant's Form 10-SB filed
           December 7, 2000.







                              Page 7



<PAGE>

                           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.


Date: May 14, 2003                  Big Sky Industries V, Inc.



                                    /s/ Ramon Chimelis
                                    -----------------------------
                                    Ramon Chimelis
                                    Chief Executive Officer





<PAGE>