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 June 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 identification No.)
incorporation or organization)


               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
August 14, 2002: 10,152,000

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









<TABLE>
<CAPTION>


                           XENICENT, INC. & SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                           AT JUNE 30, 2002 (Unaudited)

                                     ASSETS
                                     ------
<S>                                        <C>
CURRENT ASSETS
-----------------------------------------
  Cash. . . . . . . . . . . . . . . . . .  $   43,578
  Accounts receivable, net. . . . . . . .     272,511
  Inventory . . . . . . . . . . . . . . .     646,196
  Note receivable . . . . . . . . . . . .       4,211
  Prepaid expenses. . . . . . . . . . . .     157,448
  Other current assets. . . . . . . . . .       7,601
                                         -------------
  TOTAL CURRENT ASSETS. . . . . . . . . .   1,131,545
                                         -------------

PROPERTY, PLANT AND EQUIPMENT
-----------------------------------------
  Land. . . . . . . . . . . . . . . . . .     408,218
  Buildings and improvements. . . . . . .     200,817
  Machinery and equipment . . . . . . . .      14,880
  Furniture and office equipment. . . . .      53,101
  Accumulated depreciation. . . . . . . .    (176,105)
                                         -------------
  NET PROPERTY, PLANT AND EQUIPMENT . . .     500,911
                                         -------------
OTHER ASSETS
-----------------------------------------
  Investment in non-marketable securities     255,000
  Deposits. . . . . . . . . . . . . . . .     115,913
                                         -------------
  TOTAL OTHER ASSETS. . . . . . . . . . .     370,913
                                         -------------
    TOTAL ASSETS. . . . . . . . . . . . .  $2,003,369
                                         =============
</TABLE>







<TABLE>
<CAPTION>


                           XENICENT, INC. & SUBSIDIARY
                       CONSOLIDATED BALANCE SHEETS (CONT')
                           AT JUNE 30, 2002 (Unaudited)
<S>                                                                <C>

LIABILITIES AND STOCKHOLDERS' EQUITY
-----------------------------------------------------------------
CURRENT LIABILITIES
-----------------------------------------------------------------
  Accounts payable. . . . . . . . . . . . . . . . . . . . . . . .  $   142,276
  Short-term borrowings . . . . . . . . . . . . . . . . . . . . .      296,970
  Notes payable . . . . . . . . . . . . . . . . . . . . . . . . .       83,701
  Loan from stockholder . . . . . . . . . . . . . . . . . . . . .       20,180
  Due to related parties. . . . . . . . . . . . . . . . . . . . .      262,666
  Other current liabilities . . . . . . . . . . . . . . . . . . .       22,205
                                                                 --------------
    TOTAL CURRENT LIABILITIES . . . . . . . . . . . . . . . . . .      827,998
                                                                 --------------
MINORITY INTEREST . . . . . . . . . . . . . . . . . . . . . . . .      533,444
                                                                 --------------
STOCKHOLDERS' EQUITY
-----------------------------------------------------------------
  Common stock ($.001 par value, 50,000,000 shares authorized:
   10,152,000 and 8,845,000 issued and outstanding at . . . . . .       10,152
   June 30, 2002 and December 31, 2001, respectively)
  Preferred stock ($.001 par value, 5,000,000 shares authorized:
   none issued and outstanding) . . . . . . . . . . . . . . . . .          -0-
  Additional paid-in-capital. . . . . . . . . . . . . . . . . . .    1,227,390
  Retained deficit. . . . . . . . . . . . . . . . . . . . . . . .     (595,083)
  Cumulative foreign currency translation amount. . . . . . . . .         (532)
                                                                 --------------
    TOTAL STOCKHOLDERS' EQUITY. . . . . . . . . . . . . . . . . .      641,927
                                                                 --------------
    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY. . . . . . . . . .  $ 2,003,369
                                                                 ==============
</TABLE>










<TABLE>
<CAPTION>


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


<S>                                     <C>                          <C>             <C>                <C>
                                              Three months ended June 30,          Six months ended June 30,
                                                    2002             2001            2002               2001
                                        --------------------------------------------------------------------

REVENUE AND COST OF SALES:
--------------------------------------
  Sales. . . . . . . . . . . . . . . .  $             -0-       $      -0-   $         -0-    $         -0-
  Cost of sales. . . . . . . . . . . .                -0-              -0-             -0-              -0-
                                        --------------------------------------------------------------------
    Gross Profit . . . . . . . . . . .                 -                -               -                -
                                        --------------------------------------------------------------------
OPERATING EXPENSES:
--------------------------------------
  Selling, general and administrative.             98,345           6,244         112,132           48,185
                                        --------------------------------------------------------------------
    TOTAL EXPENSES . . . . . . . . . .             98,345           6,244         112,132           48,185
                                        --------------------------------------------------------------------
      OPERATING LOSS . . . . . . . . .            (98,345)         (6,244)       (112,132)         (48,185)
                                        --------------------------------------------------------------------
OTHER (EXPENSE):
--------------------------------------
  Interest expense . . . . . . . . . .               (110)           (108)           (160)          (1,473)
                                        --------------------------------------------------------------------
    TOTAL OTHER (EXPENSE). . . . . . .               (110)           (108)           (160)          (1,473)
                                        --------------------------------------------------------------------
      (LOSS) BEFORE TAXES. . . . . . .            (98,455)         (6,352)       (112,292)         (49,658)
                                        --------------------------------------------------------------------
      INCOME TAX PROVISION . . . . . .                 -0-             -0-             -0-              -0-

      NET (LOSS) . . . . . . . . . . .  $         (98,455)     $   (6,352)  $    (112,292)    $    (49,658)
                                        ====================================================================
  Net (loss) per common share
  Basic & fully diluted. . . . . . . .  $           (0.01)     $    (0.01)  $       (0.01)    $      (0.01)
                                        ====================================================================
  Weighted average common
  shares outstanding . . . . . . . . .          9,028,333       8,832,000       8,936,667        8,832,000
                                        ====================================================================

</TABLE>
















<TABLE>
<CAPTION>



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

<S>                                                    <C>         <C>
                                                            2002       2001

CASH FLOWS FROM OPERATING ACTIVITIES:
-----------------------------------------------------
  Net loss. . . . . . . . . . . . . . . . . . . . . .  $(112,292)  $(49,658)
  Adjustments to reconcile net loss to net
  cash used in operating activities:
    Depreciation. . . . . . . . . . . . . . . . . . .        340        340
    Common stock issued for services. . . . . . . . .     85,675
    Interest accrual. . . . . . . . . . . . . . . . .        160        -0-
    Decrease in operating assets:
      Prepaid expenses. . . . . . . . . . . . . . . .      2,500        -0-
      Recoverable income taxes. . . . . . . . . . . .        -0-     12,700
                                                      ----------------------
      NET CASH (USED IN) OPERATING ACTIVITIES . . . .    (23,617)   (36,618)
                                                      ----------------------
CASH FLOWS FROM INVESTING ACTIVITIES:
-----------------------------------------------------
  Purchase of subsidiary assets net of cash . . . . .     43,476        -0-
                                                      ----------------------
      NET CASH PROVIDED BY INVESTING ACTIVITIES . . .     43,476        -0-
                                                      ----------------------
CASH FLOWS FROM FINANCING ACTIVITIES:
-----------------------------------------------------
  Proceeds from stockholder loans . . . . . . . . . .     12,500        216
                                                      ----------------------
      NET CASH PROVIDED BY FINANCING ACTIVITIES . . .     12,500        216
                                                      ----------------------
      NET INCREASE (DECREASE) IN CASH AND . . . . . .     32,359    (36,402)
      CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS:
-----------------------------------------------------
      Beginning of year . . . . . . . . . . . . . . .     11,219     44,729
                                                      ----------------------
      End of period . . . . . . . . . . . . . . . . .  $  43,578   $  8,327
                                                      ----------------------
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>








                           XENICENT, INC. & SUBSIDIARY
                          NOTES TO FINANCIAL STATEMENTS
                            June 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 June
30,  2002,  the  results of operations for the three and six month periods ended
June  30,  2002  and 2001, and cash flows for the six months ended June 30, 2002
and  2001.  The  results for the period ended June 30, 2002, are not necessarily
indicative  of  the  results  to  be  expected for the entire fiscal year ending
December  31,  2002.

NOTE  2  -  EARNINGS  (LOSS)  PER  SHARE

The  following  represents  the  calculation  of  earnings  (loss)  per  share:

                        Three         Three          Six           Six
                        Months Ended  Months Ended   Months Ended  Months Ended
BASIC & FULLY DILUTED*  June 30, 2002 June 30, 2001  June 30, 2002 June 30, 2001
--------------------------------------------------------------------------------
Net loss                $     (98,445) $     (6,352) $   (112,292) $    (49,658)

Less- preferred stock dividends    -0-           -0-           -0-           -0-
--------------------------------------------------------------------------------
Net loss                $     (98,445) $     (6,352) $   (112,292) $    (49,658)

Weighted average number
Of common shares            9,028,333     8,832,000     8,936,667     8,832,000
--------------------------------------------------------------------------------

Basic & fully diluted*
loss per share          $       (.01)  $       (.01) $      (.01)  $       (.01)
--------------------------------------------------------------------------------

* The Company had no common stock equivalents during the periods presented






NOTE 3 - INVESTMENTS

During  the  quarter ended June 30, 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 4 - ACQUISITION

On  June  30,  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.

NOTE 5 - PREPAID EXPENSES

During the quarter ended June 30, 2002, the Company issued 250,000 shares of its
common  stock for professional services. The service period ends March 31, 2003.
The  stock  was  valued at the market price on the date of issuance, or $.80 per
share,  yielding  an aggregate market value of $187,500. Of this amount, $46,875
is  included  in  this  quarter's statement of operations, with the remainder of
$140,625  included  in  the  balance  sheet  at  June  30,  2002.


NOTE 6 - SUBCONTRACTORS

Also, during the quarter ended June 30, 2002, the Company issued 97,000 of its
common stock for various consulting services. The stock was valued at the market
price on the date of issuance, or $.40 per share, yielding an aggregate market
value of $38,800. This amount is included in selling, general and administrative
expenses for this quarter.















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.

Services  provided  by  Giantek include project management, on-site installation
support,  on-site  event support, display content creation, product maintenance,
marketing  assistance  and  large  screen  video  display  rentals.

Giantek  invests a significant portion of its research and development resources
into full-color LED (light emitting diode) based display systems and has done so
over the past several years. During that time, it has introduced its own line of
systems  and  has  converted  much  of its display offerings from incandescent &
reflective  technologies  to  LED  based  technology although these technologies
remain  important.  Giantek  continues  to  invest  in technology to develop new
products  and enhancements for a wide variety of existing scoreboard and display
products.

Every  day, viewers all over the world count on Giantek scoreboards and displays
for information and entertainment. Giantek has sold display systems ranging from
small scoreboards under $1,000 to large complex display systems priced in excess
of  $2  million.  Generally,  Giantek's product sales are either custom products
built  on  existing  technology  with  contract sizes ranging from approximately
$25,000  to  $750,000.  Customers of Giantek include several international stock
exchanges,  the Taiwan Mass Transit Authority, Fortune 500 manufacturers and the
Saudi  Arabian  royal  family.

Giantek's  net  sales  and profitability historically have fluctuated due to the
impact  of  large  product  orders  such  as  display  systems  for governmental
facilities  and  large  commercial  projects.  The  seasonality  of the high-end
advertising  markets  has  also  played  a  part  in  Giantek's sales and profit
fluctuations.  This  seasonality has had the effect of causing net sales and net
income  in the third and fourth quarters of a fiscal year to be generally higher
than the first quarter of a fiscal year, followed by higher levels in the second
quarter.  The  effects  of  seasonality  are  generally  not  found in Giantek's
business  and  transportation  markets,  although the impact of a large order in
those markets can cause a significant fluctuation in net sales and the resulting
profits.  Approximately two-thirds of Giantek's revenues are in the business and
transportation  markets with the remaining split between advertising and sports,
although  Giantek considers itself to be operating in a single industry segment.

Giantek's  gross  margins  on large orders tend to fluctuate more than those for
smaller,  standard orders. Large product orders that involve competitive bidding
and  substantial  subcontract work for product installation generally have lower
gross  margins  with  greater  variability  in  margins among the larger orders.
Although  Giantek  follows  the  percentage  of completion method of recognizing
revenues  for  these  larger  orders,  Giantek  nevertheless  has  experienced
fluctuations  in  operating  results  and  expects  that  its  future results of
operations  may  be  subject  to  similar  fluctuations.

INDUSTRY

Giantek  is an established manufacturer and distributor in computer-programmable
displays  and  large  screen video displays. Growth of this product category was
originally  stimulated  by the invention of the microprocessor and the continued
development  and  acceptance  in  society  of  the personal computer. Initially,
computers  allowed  companies the capability to bring to market incandescent and
reflective technologies controlled by computers. In the past, these incandescent
and  reflective  technologies  were  key  product  categories  for  Giantek.

During  the  mid-1990s,  a  technological  breakthrough  in  display  technology
occurred  which  contributed  significantly  to  the  growth  of  Giantek  - the
development  of  a blue light emitting diode that was visible outdoors, and that
could  be  manufactured  in  larger  quantities.  This  provided  the  basis for
significant  future  growth  in  the  industry  and  for  Giantek.  With  this
development,  Giantek  entered the large screen video display business. Prior to
this  development,  large  screen  video  displays  were primarily made of small
cathode ray tubes ("CRT"), were limited in size and the suppliers were generally
the  same  companies  that  were  in  the  television  set  business.

Giantek,  led  by  President  Frank Chen, leveraged its knowledge of the display
business  with  the  availability  of high quality blue and green light emitting
diodes  to  broaden its scope and provide not only computer-programmable signage
but  also  large  video  displays  for  both  outdoor  and indoor usage. It also
converted many of its previous incandescent and reflective technologies to lower
cost,  LED  based  technology.

In  general,  the  industry is characterized by market participants that provide
limited  product  offerings  as  compared  to  Giantek.  For  example,  most
manufacturers  of  computer programmable computer displays that are used to show
alphanumeric  data  and graphics do not manufacture large screen video displays.
Conversely  the  large  video  display manufacturers do not manufacture computer
programmable displays. Giantek, however, manufactures both computer programmable
displays and large video displays and supplies the software to integrate various
components,  as well as marketing services, content development and information.
This  places Giantek in a uniquely beneficial position to serve venues that have
numerous  requirements  such  as  the typical large governmental contract venue.
Giantek,  through  the  use of its display control software and its video server
software,  also has the unique capability of time sharing a large screen such as
an  arena  between  the video display functions previously provided by the large
video  display  and  the  information and animation display functions previously
provided  by  computer  programmable  display and providing seamless integration
with  standard  video  equipment. Having all these functions integrated into one
large  display  system gives the venue owner significant flexibility in managing
the information and entertainment spectators receive that has not been available
previously.

PRODUCTS

Giantek  offers  its customers a wide range of computer-programmable information
display  systems  consisting  of related products, or families of products, that
have similar functions and varying degrees of capabilities. Products within each
family  use  displays  and  controllers  that  are  built  with many of the same
components  to  reduce the cost of production, improve delivery time and provide
flexibility  for  standard  and  custom  installations.  The  use  of  standard
components  also  enhances  the  reliability  and  serviceability of the display
systems.  For  example,  the financial data stream family includes products that
use many of the same components and range from a small, single-faced light board
to a large, four-sided display that can be used for other information. The sizes
of  displays  can  vary  significantly,  depending on the needs of the customer,
taking  into  account  such  things  as  viewing  angles  and  viewer distances.

The  two  principal  components of most of Giantek's systems are the display and
the  display  controller.  The  display  controller  uses  computer hardware and
software  to  process  the  information  provided  from  the  operator and other
integrated  sources  and to formulate the information, graphics, or animation to
be  presented on the display. The display controller controls each of the pixels
(dots  or picture elements that make up the image) on the display to present the
message  or  image.

Data  can  be transferred between the display controller and local and/or remote
displays.  Local  connections  use  twisted  pair  cables,  fiber  optic cables,
infrared links or radio links. Both standard and cellular telephone connections,
and  satellite transmissions, are used to connect to remote displays. The remote
connections  are  generally  purchased  from  third  parties.

Within  each  product family, Giantek produces both standard and custom displays
that  vary  in  complexity,  size and resolution. Generally, a large, full-color
video display is significantly more complex than a standard time and temperature
display.  The physical dimensions of a display depend on the size of the viewing
area,  the distance from the viewer to the display and the amount of information
to  be  displayed  at  one  time. Generally, for displays other than fixed digit
displays,  the  light  source  or  pixels  are  spaced  farther apart for longer
distance  viewing.  The  resolution  of  a display is determined by the size and
spacing  of each pixel, with smaller, more densely packed pixels creating higher
resolution  images.  The  type of the display may also depend on the location of
the  viewing  audience.  For example, displays on building structures may have a
viewing  angle  nearly  as  wide as 180 degrees, compared with roadside displays
which  typically  are  viewed  from a passing vehicle only within a narrow angle
from  the  display.

MARKETING AND SALES

Giantek's  display  systems  have  been sold throughout the United States and in
more  than  20 countries. Its products are marketed and sold worldwide through a
combination  of  direct sales personnel and independent resellers. In the United
States  and  eastern Canada, Giantek utilizes primarily a direct sales force for
convention centers, transportation and other commercial entities. In the smaller
venues,  primarily  retail  and  similar  facilities,  as  well  as  commercial
facilities,  Giantek utilizes a combination of direct sales staff and resellers.

The  majority of the products sold by resellers are standard or "catalog" retail
and business products where display systems must be installed in accordance with
local  zoning  ordinances.  These are typically moderately priced and relatively
easy  to  install.  The most popular models are built to inventory and available
for  quick  delivery.  The  remaining  models  are built to order and quoted for
shipment in 30 to 90 days after order acceptance. Giantek supports its resellers
through national and regional direct mail advertising, trade journal advertising
and  trade  show  exhibitions.  Members  of Giantek's direct sales force support
resellers  in  the  field, and the Company's sales staff provide daily telephone
support.  Giantek  believes  that  it  can expand market share by increasing the
productivity  of  existing  resellers  and  adding  additional  resellers in new
geographic  areas.

Giantek's  direct sales force is comprised of a international network led by its
sales  office  located  in Taipei, Taiwan, supporting all customer types in both
sales of products and services. In addition to supporting resellers as mentioned
above,  the  direct sales staff also sells the entire range of products and with
the  exception  of the non-domestic market, directly sells substantially all the
large video display systems for the Company. Over the last few years Giantek has
been  transitioning  from  a customer type sales focus to a regional, geographic
approach,  while  retaining  the  market  specialization  required to serve that
market.  This  has  caused  a  significant investment in sales infrastructure to
encourage  more  team selling across markets and more efficient use of Giantek's
sales  staff.  Under  the  regional  approach,  although  staff  will  remain
specialists,  they  are  now  responsible  as  a regional team member to uncover
opportunities  for  the other markets and to transition their knowledge into the
other  markets  to  help  close  orders.

When  Giantek targets a potential costumer for a display system, the prospect is
contacted  either  directly  or  through  a  reseller.  Frequently,  engineers,
technicians,  and  direct  sales personnel jointly participate in site visits to
assess  site  conditions,  evaluate  the  customer's  requirements  and  work on
proposals.  Proposals  to  prospective  customers include business and technical
presentations  as  well  as  product  demonstrations  and  visits  to  existing
installations.  Giantek  also  regularly  hosts  prospective  customers  at  its
manufacturing  facility  to demonstrate product quality and delivery capability.

The  Company's  direct  sales  staff,  grouped  by  end  user  market,  is  also
responsible  for  international sales in their respective markets. International
sales may fluctuate from year to year based on the timing of large projects like
Olympic  events.  A  typical  term of sale for international projects includes a
letter  of  credit or payment in advance in New Taiwan dollars. Giantek believes
that  in  addition to substantial growth that it expects will still occur in the
domestic  markets,  it  will  also  achieve growth in the international markets.

Giantek  believes  that  much of its marketing and sales success in the past has
been  based  on  its ability to create new products and product enhancements for
its  customers  through  developing  and  understanding  of  their  needs  and
opportunities.  It  develops  this understanding through active participation in
the  sales cycle by engineers and various others and through attendance at trade
shows,  conventions  and  seminars  as  well  as  through  a culture of teamwork
throughout  the  organization.

Giantek has a large and diverse customer base. Due to that diverse customer
base, the loss of a major customer would not have a material adverse impact on
the Company.

CUSTOMER  SERVICE  AND  SUPPORT

Giantek  believes that its prompt and reliable customer service distinguishes it
from  many  of  its competitors. Giantek provides a limited warranty for most of
its  products  against failure due to defective parts or workmanship for periods
generally  ranging  from  90  days  to 2 years after first sale or installation,
depending  on  the  product or type of customer. Under the limited warranty, the
customer  returns the failed component to the Company for replacement or repair.
The  Company  also  provides customer service and support, including "Help Desk"
access,  parts  repair  and  replacement,  and  programming  support  for video,
animation  and  other  display  information.  Giantek  staffs its Help Desk with
experienced  technicians  who  are  available  at  the  desk  or on call for the
extended  hours  required  to  support  evening  and  weekend  sports  events. A
comprehensive  database  of  customers provides Giantek with immediate access to
each  customer's  equipment and service history. A repair center is staffed with
trained  technicians  who  promptly  repair  and  return components that require
service,  and  offers  a  component  exchange  program  for same day shipment of
replacement  parts.  Giantek's  modular approach to the design and production of
products  enhances  its ability to provide effective customer service. Customers
can obtain periodic training and maintenance seminars at the Company's principal
offices and also contract for on-site training and maintenance for certain types
of  installations  such  as  high  profile  sports  events.

Giantek also plans to provide a variety of services for its customers, including
video  and  animation  production,  event  support, control room design, on-site
training,  and  continuing  technical support for operators of Giantek displays.

Giantek  believes  that  its  extensive customer support program is essential to
continued  market  penetration. To enhance the level of service available to its
customers,  Giantek  has  established a central calling center and plans to open
other  service  centers in the future. Giantek also uses a network of authorized
service companies in other domestic locations and in a number of other countries
to  service  and  maintain  its  products.




ENGINEERING  AND  PRODUCT  DEVELOPMENT

The  computer-programmable  information  display  industry  is  characterized by
ongoing  product  innovations  and  developments  in  display  and  controller
technology.  To  remain  competitive,  Giantek  must  continue to anticipate and
respond  to changes and developments in the industry and more importantly remain
a  leader  in  creating  the  innovations  and  developments. Giantek intends to
continue its tradition of applying engineering resources throughout its business
to  help  achieve  more  effective product development, manufacturing, sales and
customer support. It also remains committed to investing approximately 5% of its
net  sales  into  research  and  development.

Giantek employs engineers and engineering technicians in the areas of mechanical
design,  electronics  design, applications engineering, and customer and product
support.  Unlike some of its competitors who depend on contract engineering from
outside  vendors,  Giantek  uses  in-house  engineering  staff to anticipate and
respond  rapidly  to  the  product  development  needs  of  customers  and  the
marketplace. Giantek assigns product managers from its engineering staff to each
product  or  product  family  to assist its sales staff in customer training, to
implement  product  improvements requested by customers, and to ensure that each
product  is  designed  for  maximum  reliability  and  serviceability.

Each of these design groups is autonomous to allow it to focus on the respective
product  family  while at the same time closely tied with each other for sharing
of  ideas  and  technology.  This  organizational structure, plus a concentrated
focus on standardization, which reduces the amount of engineering time allocated
to  one-time  custom  design,  positions Giantek for even more effective product
development  in  the  future.

Giantek  believes  its  engineering  capability  and experience are unparalleled
among its competitors and its product development capability will continue to be
a  very  important  factor  in  its  market  position.

MANUFACTURING  AND  TECHNICAL  CONTRACTING

As  a  vertically-integrated  manufacturer  of display systems, Giantek performs
most  sub-assembly and substantially all final assembly of its products. Giantek
also  serves  as a technical contractor for customers who desire custom hardware
design,  custom  software  development  or  specific  site  support.

MANUFACTURING  OPERATIONS

Giantek's  manufacturing  operations  include  component  manufacturing (printed
circuit  boards and pixel assembly) and system manufacturing (metal fabrication,
electronic  assembly,  sub-assembly  and  final  assembly).  Manufacturing  and
assembly  is  performed  at  our factory located just outside of Taipei, Taiwan.
Giantek  augments  its  production  capacity  which  provides  it with increased
capacity with the use of outside subcontractors, primarily for metal fabrication
and  loading  printed  circuit  boards.

Giantek uses a modular approach for manufacturing its displays. Standard product
modules  are  designed  and built to be used in a variety of different products.
This  modular  approach  reduces  parts  inventory  and  improves  manufacturing
efficiency. Giantek inventories finished goods of smaller, standard products and
builds to order larger, seasonal and custom products. It designs product modules
so  that  a  custom  product  may  include  a significant percentage of standard
products to maximize reliability and ease of service. Certain components used in
our products are currently available from a limited number of sources. To reduce
our  inventories and enhance product quality, Giantek elects to purchase certain
components  from  a  limited  number  of  suppliers  who  are willing to provide
components  on  an  "as  needed"  basis.  From time to time, Giantek enters into
pricing  agreements  or purchasing contracts under which it agrees to purchase a
minimum amount of product in exchange for guaranteed price terms over the course
of  the  contract,  which  generally  do  not exceed one year. Through Giantek's
"total  quality  management"  and  "just-in-time"  methods  of  scheduling  and
manufacturing,  production  employees work as teams to ensure quality and timely
delivery  while minimizing excess inventories. Giantek's order entry, production
and customer service functions are also computerized to facilitate communication
throughout  the  entire  sales,  design,  production  and  delivery  process.

TECHNICAL  CONTRACTING

Giantek serves as a technical contractor for larger display system installations
that  require  custom  designs and innovative product solutions. The purchase of
state  of  the  art  display  systems  for  Olympic  venues  and  other  large
installations  typically  involves  competitive  proposals  by  Giantek  and its
competitors.  As  a  part  of  our  response  to a proposal request, Giantek may
suggest  additional  products  or features to assist the prospective customer in
analyzing  the optimal type of computer-programmable information display system.
If  requested  by  a customer or if necessary to help secure a bid, Giantek will
include  as  a  part  of its contract proposal the work necessary to prepare the
site  and  install  the  display system. In such cases, Giantek may serve as the
general  contractor  and  retain subcontractors. With each custom order, Giantek
forms  a  project team to assure that the project is completed to the customer's
satisfaction.  Key  members  of  a project team include a project manager, sales
person,  mechanical  design  team,  electronics and software team, manufacturing
team,  animation  programmer,  installation supervisor and an executive officer.

BACKLOG

The  Company  does  not  currently  have a significant backlog of customer sales
agreements  or purchase orders that we expect to fill within the next 12 months.
Part of our future success will be growing a backlog of customer orders in order
to  ensure  maximum  efficiencies  and  consistent  sales  volume. Because sales
agreements and purchase orders are typically subject to cancellation or delay by
customers  with  limited  or no penalty, the fact that we would grow our backlog
would  not  be  necessarily  indicative of future net sales or net income. While
orders for certain products may be shipped within 90 days, other orders may take
longer  depending  on  the  size  and  complexity  of  the  display.

COMPETITION

The  computer-programmable information display industry is highly fragmented and
characterized  by  intense competition in certain markets. There are a number of
established  manufacturers  of  competing  products  who may have greater market
penetration  in  certain market niches or greater financial, marketing and other
resources  than  Giantek.  Because  a  customer's  budget  for the purchase of a
computer-programmable  information  display  is  often  part  of that customer's
advertising  budget,  Giantek  may also compete with other forms of advertising,
such  as  television, print media or fixed display signs. Competitors might also
attempt  to  copy  Giantek's  products  or  product  features.

Many  of  the  Giantek's  competitors compete in only one or a few of the market
niches  served  by  us.  There  are  generally  more competitors in markets that
require  less  complicated  information display systems, such as the high school
scoreboard  market and the commercial market for time and temperature or message
displays  used  by  banks  and  small  retail stores. As the needs of a customer
increase  and  the  display  systems  become  more  complex,  there  are  fewer
competitors.  Nevertheless,  competition may be intense even within markets that
require  more  complex  display  systems.

Giantek  competes  based  on  its broad range of products and features, advanced
technology,  prompt  delivery,  and  reliable  and  readily  available  customer
service.  Giantek  also strives to provide cost effective products and solutions
for  its  customers. Contrary to the Giantek's focus on technologically advanced
products  and  customer  support,  certain  companies compete in some markets by
providing  lower  cost  display  systems  which,  in our belief, are of a lesser
quality  with  lower  product  performance  or  customer  support. If a customer
focuses  principally  on  price,  Giantek  is less likely to obtain the sale. To
remain  competitive,  Giantek  must  continue  to enhance its existing products,
introduce  new  products  and  product  features,  and  provide  customers  cost
effective  solutions  to  their  scoring  or  display  needs.

GOVERNMENT  AND  OTHER  REGULATION

In  the United States and other countries, various laws and regulations restrict
the  installation  of  outdoor  signs  and  computer-programmable  information
displays.  These  regulations  may  impose  greater  restrictions  on
computer-programmable  information  displays  due  to  alleged  concerns  over
aesthetics  or  driver  safety  if  a "moving" display is located near a road or
highway.  These  factors  may  prevent  Giantek  from  selling  products to some
prospective  customers.

Giantek's  printed  circuit  board manufacturing operations use certain chemical
processes  that  are  subject  to  various  environmental rules and regulations.
Giantek's  manufacturing  operations must also meet various safety related rules
and  regulations.  Giantek  believes  it  is  in  material  compliance  with all
applicable  governmental  laws  and regulations. Since our primary manufacturing
operation  are  located  outside  the United States, we believe these factors to
have  little  or  no  impact  on  our  business.

EMPLOYEES

Giantek  currently employs approximately 35 full time employees and 10 part time
and  temporary  employees.  Of  these  employees,  approximately  22  were  in
manufacturing, 6 in sales, marketing and customer service, 3 in engineering, and
4  in administration. None of Giantek's employees is represented by a collective
bargaining  agreement.  We believe our employee relations are good. The Board of
Directors  has agreed to provide Giantek employees with 100,000 shares of common
stock  over  the  next  two  years  for  their  services.

OUR  LAND  DEVELOPMENT  BUSINESS:
---------------------------------

We  have  a  real  estate  real  estate  development  business. Real estate land
development  consists  of  purchasing  the land, and actually completing all the
evaluations  at  our  own  expense,  as  follows:
     Providing  site  inspections;
     Reviewing environmental engineering reports;
     Arranging for surveyors to determine property lines;
     Encroachments, where lakes and environmental impacts are located in
     conjunction to the developable land;
     Obtaining bank financing;
     Completing zoning approvals

We  have  targeted  North  Carolina as our principal market. In Charlotte, North
Carolina,  approximately  10,000 single housing units are being built each year.
An  additional 5,000 units are being built each year in the counties surrounding
Charlotte.

 We  have  targeted South Carolina to a lesser extent. We have not conducted any
real  estate  development  in South Carolina or have any contracts providing for
any  real  estate  development.  In addition, we have not developed any contacts
with  developers, subcontractors or any other real estate affiliated entities to
assist us in conducting our business in South Carolina. We currently do not have
a  timetable  for targeting properties in South Carolina and do not expect to do
so  until  our  real  estate  development  is  underway  in  North  Carolina.

Our  success  will be dependent upon implementing our plan of operations and the
risks  associated  with  our  business  plans. We operate a land development and
resale  business  in the Charlotte, North Carolina area. We also plan to provide
land  development  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.

We  presently  have  no  land  parcels  available for resale, nor do we have any
contracts  to  purchase  land  parcels.  In  addition,  we  are not currently in
negotiations  for  the  purchase of any land parcels. We anticipate that we will
begin  to locate and negotiate for the purchase of land tracts in North Carolina
during  the  third  quarter  of  2002. We hope to acquire additional real estate
parcels this year, and to utilize the proceeds from the resale of those parcels,
along with its revenues from consulting services, to pay our operating costs for
the  next twelve months; however, there are no assurances that this revenue will
be sufficient to cover our operating costs. Accordingly, if our revenues are not
sufficient,  we  will  rely  upon capital infusions from our president; however,
there are no assurances that our president will have sufficient funds to provide
such  capital  infusions.

OUR REAL ESTATE CONSULTING BUSINESS:
------------------------------------

Our real estate consulting business, on the other hand, performs essentially the
same  tasks  as our real estate development business, but is not responsible for
actually completing and paying for the labor to be completed. Additionally, with
consulting  one  of  our  primary  objectives  is  to  link the seller and buyer
together  and  help  the  buyer  achieve  these  evaluations  at  their expense.



LAB ON A CHIP DEVELOPMENT DISCONTINUED
--------------------------------------

During  the  first  quarter  of  2002, the Company announced that it was seeking
development  of 'Lab on a Chip' technology. Lab on a Chip is a prototype testing
device that can perform laboratory functions such as air, water or blood testing
from  a  small desktop device which produces real-time data results. The company
was  not  producing  the technology 'in-house' as part of its normal operations,
but  rather  was seeking licensing and production rights from an unrelated third
party.  As  of the date of this report, the Company has suspended development in
this  area  to  remain focused in its core businesses. The Company did not incur
any  material  expenses  relating  to  the  Lab  on  a  Chip  developments.

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

Net  Loss

The  Company  had a net loss of $98,455, or $.01 per common share, for the three
months  ended  June  30, 2002, versus a net loss of $6,352, or $.01 for the same
period  ended June 30, 2001. The Company had a net loss of $112,292, or $.01 per
common  share  for  the  six  months  ended  June  30, 2002 versus a net loss of
$49,658, or $.01 for the same period ended June 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.

In  accordance  with  the  purchase  method  of accounting and the principles of
consolidation,  future  periods  will  include  results  of  operations from our
recently  acquired  subsidiary,  Giantek  Technology  Corporation.

Sales

We  did  not  have revenues for the second quarter of the year, as there were no
construction contracts initiated and no consulting services performed. We had no
revenues  from  contract  sales  in  the  comparable  period last year. This was
primarily  due to us seeking out larger properties to develop in our local area.
However, we have not succeeded in locating any new projects. We do not expect to
have  additional  contract  revenues  until  late  in  2002.

Expenses

Operating expenses for the three months ended June 30, 2002 increased $92,103 to
$98,455.  In  comparison with the three month period ended June 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 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 four quarters for which the contract covers and ends
on March 31, 2003. The difference of $140,625 is included under prepaid expenses
in  the  accompanying  balance  sheet.

Liquidity  and  Capital  Resources

On  June  30,  2002,  the  Company  had  cash of $43,578 and $558,547 in working
capital. This compares with cash of $8,327 and working capital of $7,029 at June
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 was $23,617 for the three months
ended  June  30,  2002 as compared with net cash used in operating activities of
$36,618  for  the  period  ended  June  30,  2001.  The decrease in cash used in
operations  was  primarily  attributable  to  the  $85,675  in  stock issued for
services,  partially  offset by the increase in net loss for the current quarter
as  compared  to  the  prior  year's  quarter.

Net cash flows provided by investing activities was $43,476 for the three months
ended  June  30,  2002 as compared with $0 in the comparable period in 2001. The
change  in  cash  provided  by  investing  activities  was the net cash position
acquired  in  the  Giantek  Technology  Corporation  share  exchange.

Net cash flows provided by financing activities was $12,500 for the three months
ended  June 30, 2002 as compared with $216 in the comparable period in 2001. The
cash  flows provided by financing activities were attributable to a loan for our
President, Mr. Duane Bennett in the amount of $12,500 during the second quarter.

A  shareholder  loan  in  the  amount of $20,180 was payable on June 30, 2002 to
Duane Bennett, President and majority shareholder.  The loan 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 June 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.


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

Item 1. Legal Proceedings

None.

Item 2. Changes in Securities

During  the  quarter ended June 30, 2002, we issued 300,000 shares of our common
stock  in  connection with the acquisition of 500,000 shares of Traderight Corp.
The  shares  were valued at the date of issuance, or $.85 per share, yielding an
aggregate  market  value  of  $240,000.

Also  during  the  quarter,  we  issued  660,000  shares  of our common stock in
connection  with  the  acquisition  of  sixty  percent  of  Giantek  Technology
Corporation.  The shares were valued at the date of issuance, or $.40 per share,
yielding  an  aggregate  market  value  of  $264,000.

Also  during  the  quarter, we issued 97,000 to various consultants for services
rendered  on  behalf  of  our  Company.  The  shares  were valued at the date of
issuance,  or  $.40  per  share,  yielding an aggregate market value of $38,800.

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.

(b)  Reports  on  Form  8-K

         Form  8-K (dated July 15, 2002) was filed to disclose our acquisitions
of  interests  in Traderight  Corp  and  Giantek  Technology Corporation.

                                   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:  August 14, 2002                  __________________________
                                        Duane Bennett, President