UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                 Washington, D.C. 20549
                       FORM 10-QSB

[X] Quarterly Report under Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended March 31, 2004

[ ] Transition report under Section 13 or 15(d) of the Exchange Act
For the transition period from ---- to -----

               Commission File Number 333-79405

                   NATALMA INDUSTRIES, INC.
   --------------------------------------------------
  (Exact name of registrant as specified in its charter)

       Nevada                            88-0409369
--------------------------            -----------------
(State or other jurisdiction          (I.R.S. Employer
of incorporation or organization      Identification No.)


    1550 Ostler Court N. Vancouver, B.C., Canada   V7G 2P1
------------------------------------------------   -------
(Address of principal executive offices)          (Zip Code)

Registrant's telephone number, including area code:
(604) 924-8000

                               None
------------------------------------------------------------------
Former Name, Address and Fiscal Year, if Changed Since Last Report

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

The number of shares outstanding of the registrant's common stock as
of March 31, 2004 was 11,777,500. The Post-Effective Amendment to
Registrant's Form SB-2 and all exhibits thereto, filed under SEC
File Number 333-79405, are incorporated herein by reference.



                                1

<PAGE>


                             PART 1

Item 1. Financial Statements
----------------------------

The financial statements included herein have been prepared by the
Company, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and footnote
disclosures normally included in financial statements prepared in
accordance with generally accepted accounting principles have been
omitted. However, in the opinion of management, all adjustments
(which include only normal recurring accruals) necessary to present
fairly the financial position and results of operations for the period
presented have been made. The results for interim periods are not
necessarily indicative of trends or of results to be expected for the
full year. These financial statements should be read in conjunction
with the financial statements and notes thereto included in the
Company's Form 10KSB for the year ended December 31, 2003, which
can be found on the SEC website (www.sec.gov) under SEC File Number
333-79405.





















                                2
<PAGE>

<TABLE><CAPTION>
                   NATALMA INDUSTRIES, INC.
                       Balance Sheet
                        A S S E T S
                        -----------
                                   March 31   December 31
 			            2004         2003
                                  ---------   -----------
 <S>                                  <C>          <C>
Current Assets
--------------
Cash                              $235,535     $234,478
                                  --------     --------
Total Current Assets               235,535      234,478

Total Assets                      $235,535     $234,478
                                  ========     ========

              L I A B I L I T I E S
              ---------------------
Current Liabilities
-------------------
Accounts payable                  $ 1,700      $  2,250
                                  -------       -------
Total Current Liabilities           1,700         2,250
                                  -------       -------
Total Liabilities                   1,700         2,250

Commitments and
Contingencies                           -             -

          S T O C K H O L D E R S' E Q U I T Y
          ------------------------------------
Common Stock                       11,778        11,778
25,000,000 authorized shares,
par value $.001, 11,777,500
shares issued and outstanding
Additional Paid-In-Capital        331,152       331,152
Accumulated Deficit during the
Development Period               (109,095)     (110,702)
                                  -------       -------
Total Stockholders' Equity
(Deficit)                         233,835       232,228
                                  -------       -------
Total Liabilities and
Shareholders' Equity              235,535       234,478
                                  =======       =======
</TABLE>

The accompanying notes are integral part of the consolidated
financial statements.
                               4
<PAGE>

<TABLE><CAPTION>

              NATALMA INDUSTRIES, INC.
         Statement of Operations (Unaudited)
        ------------------------------------
                                  For the Three Months
                                         Ended
                                 March 31      March 31
                             -----------------------------
                                  2004          2003
                             ==============  =============
<S>                                <C>           <C>
Revenues:
---------
Revenues                         1,694               -
                               -------          --------
Total Revenues                 $ 1,694          $    -

Expenses:
---------
Professional fees                    -              800
Operating Expenses                  87                1
                               -------          -------
Total Expenses                      87              801

Net Income before Taxes       $  1,607             (801)

Provision for Income Taxes:
---------------------------
Income Tax Benefit                  -               -
Net Income (Loss)             $  1,607             (801)
                               =========        ========
Basic and Diluted
Earnings Per Common Share      (0.0001)         (0.0001)
                              ---------         --------
Weighted Average number of
Common Shares used in per
share calculations           11,777,500       11,500,000
                             ==========       ==========
</TABLE>

The accompanying notes are integral part of the consolidated
financial statements.


                            5

<PAGE>




<TABLE><CAPTION>

              NATALMA INDUSTRIES, INC.
       Statement of Stockholders' Equity As of
              March 31, 2004 (Unaudited)

                                                    Stock-
                      $0.001  Paid-In  Accumulated  holders
            Shares  Par Value Capital   Deficit     Equity
            ------  --------- -------  -----------  -------
<S>          <C>      <C>       <C>        <C>        <C>
Balance,
January 1,
2001
          11,500,000  11,500  53,930    (59,540)     5,890

Net Income
(Loss)        -         -        -       (9,690)    (9,690)
          ==========  ======  ======    =======     ======
Balance,
December
31, 2001 11,500,000   11,500  53,930    (69,230)    (3,800)
         ----------   ------  ------     ------     ------
Issuance
of common
stock       252,500      253 252,247               252,500

Expenses
for stock
offering     25,000       25  24,975                25,000

Net Income
(Loss)                                  (34,009)   (34,009)
        -----------  ------- -------    -------   ---------
Net Income
(Loss)                                      -           -
        -----------  ------- -------    -------   ---------
Balance,
December
31, 2002 11,777,500   11,778  331,152   (103,239)   239,691
        -----------  ------- --------   --------  ---------
Net Income
(Loss)                                    (7,463)    (7,463)
        -----------  ------- --------   --------  ---------
Balance,
December
31, 2003 11,777,500   11,778  331,152   (110,702)   232,228
        -----------  ------- --------   --------  ---------
Net Income
(Loss)                                     1,607      1,607
         ----------   ------  -------   --------    -------
Balance,
March 31
2004     11,777,500   11,778  331,152   (109,095)   233,835
         ==========   ======  =======   =========   =======
</TABLE>

The accompanying notes are integral part of the consolidated
financial statements.


                                6

<PAGE>

<TABLE><CAPTION>
                NATALMA INDUSTRIES, INC.
          Statement of Cash Flows (Unaudited)
                     ------------------------------------
                         For the Three Months Ended
                                  March 31
                     ------------------------------------
                            2004            2003
                     ---------------- ---------------
<S>                         <C>              <C>
Cash Flows from
Operating Activities:
---------------------
Net Income (Loss)          $  1,607     $   (801)
Adjustments to reconcile
net loss to net cash
provided (used) for
operating activities:
  Increase (Decrease) in
  Accounts Payable             (550)         450
                          ---------       --------
Total Adjustments              (550)         450
                          ---------       --------
Net Cash Used in
Operating Activities       $  1,057      $   351
Cash Flows from
Investing Activities:
---------------------
Purchase of Mineral Properties    -           -
                           ---------     ---------
Net Cash Used in Investing
Activities                 $      -      $    -
                           ---------     ---------
Cash Flows from
Financing Activities:
---------------------
Proceeds from Issuance
of Stock                          -           -
Costs Incurred to
Raise Capital                     -           -
                          ---------       --------
Net Cash Provided for
Financing Activities      $       -      $    -
                          ---------       --------
Net Increase(Decrease)
in Cash                   $  1,057       $   (351)
Cash Balance, Begin Period 234,478        241,441
                          --------        -------
Cash Balance, End Period   235,535        241,090
                          ========        =======
Supplemental Disclosures:
Cash Paid for Interest    $    -         $    -
Cash Paid for income taxes     -              -
Stock Issued for Option
  to Purchase                  -              -
Stock Issued for
  Repayment of Shareholder
  Advances                     -              -

</TABLE>
The accompanying notes are integral part of the consolidated
financial statements.

                           7
<PAGE>


NOTE 1 - SUMMARY OF ACCOUNTING POLICIES
---------------------------------------
NATURE OF BUSINESS
------------------
Organization
------------
Natalma Industries, Inc. ("the Company") was incorporated under
the laws of the State of Nevada on July 9, 1998 for the purpose to
promote and carry on any lawful business for which a corporation
may be incorporated under the laws of the State of Nevada. The
company has a total of 25,000,000 authorized common shares with a
par value of $.001 per share and with 11,777,500 common shares
issued and outstanding as of December 31, 2003 and March 31, 2004.

Financial Statement Presentation
--------------------------------
The consolidated unaudited interim financial statements of the
Company as of March 31, 2004 and for the three months ended
March 31, 2004, included herein have been prepared in accordance
with the instructions for Form 10QSB under the Securities Exchange
Act of 1934, as amended, and Article 10 of Regulation S-X under
the Securities Act of 1933, as amended. The December 31, 2003
Consolidated Balance Sheet was derived from audited financial
statements, but does not include all disclosures required by
generally accepted accounting principles. Certain information and
note disclosures normally included in financial statements
prepared in accordance with generally accepted accounting
principles have been condensed or omitted pursuant to such rules
and regulations relating to interim consolidated financial
statements.

In the opinion of management, the accompanying consolidated unaudited
interim financial statements reflect all adjustments, consisting only
of normal recurring adjustments, necessary to present fairly the
financial position of the Company at March 31, 2004, and the results
of their operations for the three months ended March 31, 2004 and 2003,
and their cash flows for the three months ended March 31, 2004 and 2003.

The results of operations for such periods are not necessarily
indicative of results expected for the full year or for any future
period. These financial statements should be read in conjunction with
the audited consolidated financial statements as of December 31, 2003
and related notes included in the Company's Form 10-KSB filed with
the Securities and Exchange Commission.

Exploration Stage Enterprise
----------------------------
The Company is an exploration stage enterprise, as defined in Financial
Accounting Standards Board No. 7 and Industry Guide 7 of the SEC Industry
Guide. The Company is devoting all of its present efforts in securing and
establishing a new business, and its planned principal operations have
not commenced, and, accordingly, no revenue has been derived during the
organizational period.


                                   8

<PAGE>


NOTE 1 - SUMMARY OF ACCOUNTING POLICIES (con't)
----------------------------------------------
Accounting Method
-----------------
The Company's financial statements are prepared using the accrual
method of accounting. Revenues are recognized when earned and expenses
when incurred. Fixed assets are stated at cost. Depreciation and
Amortization using the straight-line method for financial reporting
purposes and accelerated methods for income tax purposes.

Earnings per Common Share
-------------------------
The Company adopted Financial Accounting Standards (SFAS) No. 128,
"Earnings Per Share," which simplifies the computation of earnings
per share requiring the restatement of all prior periods.

Basic earnings per share are computed on the basis of the weighted
average number of common shares outstanding during each year.

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

Note 2 - MINERAL PROPERTIES
---------------------------
On December 11, 1998, the Company entered into an Option to Purchase
Agreement with an unrelated third party, ("Seller) wherein the Company
would acquire 100% of the rights, title and interests in and to a
total of 10 unpatented mining claims in the Whitehorse Mining District,
Yukon Territory, Canada.  The Agreement called for the Company to pay
$55,000 U.S. in cash and to issue 500,000 shares of its common stock.
On March 16, 1999, the Company consummated the Agreement by paying
the Seller $55,000 U.S. in cash. On May 11, 1999 the Company issued
500,000 shares of its common stock. In addition, the Company has
agreed to pay a 2% net smelter reruns on all minerals produced by the
properties to the Seller, and to complete a minimum of $80,000,
Canadian, exploration and development work on the properties on or
before September 1, 2002. The Company has expensed the cost of the
option when the payments were paid in March 16, 1999.  The company
did not complete the minimum $80,000, Canadian, exploration and
development work on the properties before the required date of
September 1, 2002 and is in negotiations to extend the deadline
to December 31, 2004.

Note 3 - RELATED PARTIES
------------------------
During 2002, a major shareholder advanced the Company a total of
$5,000 which was repaid from the proceeds of stock issued in 2002.

Note 4 - SUBSEQUENT EVENTS
--------------------------
On March 25, 2004 the Company announced signed a letter of Intent
to acquire the assets and operations of Concrete Preservative
International Inc. ("CPI"). CPI proposes to manufacture and sell a
unique line of linseed oil based concrete preservative products.
The products are unlike anything on the market in that the
preservatives penetrate concrete to provide protection against the
elements in all types of climatic conditions. The products are
highly effective in extending the useful life and reducing the
maintenance cost of all types of concrete structures. The Company
is continuing its due diligence in accordance with the letter of
intent.


                              9
<PAGE>

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

Results of Operations
---------------------
For the three months ended March 31, 2004, we had revenues of
$1,694, which consisted of interest earned on our cash in the bank,
as compared to no revenues for the three months ended March 31, 2003.
For the three months ended March 31, 2004, we incurred operating
expenses of $87, compared to net operating expenses of $801 for the
three months ended March 31, 2003. These expenses consisted of general
operating expenses and accounting andprofessional fees incurred in
connection with the day-to-day operation of our business.

Our net income for the three months ended March 31, 2004 was $1,607,
as compared to a net loss of $801 for the three months ended March
31, 2003.

There was no cash provided by financing activities for the three
months ended March 31, 2004 or 2003.

Our ability to continue as a going concern is dependent on our ability
to expand our business operations and generate revenues or raise
additional funds, when necessary, through thee sale of our equity
securities for use in administrative and business activities.

Liquidity and Capital Resources
-------------------------------
We expect our current cash in the bank of $235,535 at March 31, 2004
to satisfy our cash requirements for at least the next nine months
without having to raise additional funds or seek bank loans, while we
continue to expand our business operations sufficient to generate
revenues.

Plan of Operation
-----------------
During the next twelve months, we intend to continue our business
operations, concentrating on research and development of our properties
and possible acquisition of additional business opportunities to
generate revenues.

                             10
<PAGE>

We intend to continue aggressively seeking a joint venture partner to
assist with the exploration and development of our properties; however,
to date, we have not yet entered into any serious negotiations with
any possible joint venture partner. We are hoping to find a partner to
begin development of our properties this summer, when the roads in
the area leading to our mining claims are cleared and passable. We are
continuing to study data and perform research activities on the
properties and surrounding areas in anticipation of implementing our
proposed exploration and development plans in mid-summer 2004.

We do not intend to purchase any significant property or equipment,
nor incur any significant changes in employees during the next
nine months.

In the event we are unable to generate revenues sufficient for
operations, we may need to consider raising additional funds
through loans or the sale of additional equity securities for use in
our day-to-day operations. Currently, no such loans or equity sales
are planned.

We do not anticipate any material commitments for capital
expenditures in the near term. We are not aware of any trend in our
industry or capital resources which may have a negative impact on
our income, revenues or income from operations.

On March 25, 2004, we signed a letter of Intent to acquire the assets
and operations of Concrete Preservative International Inc. ("CPI").
CPI proposes to manufacture and sell a unique line of linseed oil
based concrete preservative products. The products are unlike
anything on the market in that the preservatives penetrate concrete
to provide protection against the elements in all types of climatic
conditions. The products are highly effective in extending the useful
life and reducing the maintenance cost of all types of concrete
structures. We are currently conducting due diligence in accordance
with the letter of intent and further information will be filed on
Form 8-K if we decide to proceed with the acquisition once our due
diligence is completed.

Accounting Policies
-------------------
The financial statements included herein have been prepared
pursuant to the rules and regulations of the Securities and
Exchange Commission. Certain information and footnote disclosures
normally included in financial statements prepared in accordance
with generally accepted accounting principles have been
condensed or omitted pursuant to such rules and regulations for
interim financial statements. Management believes the disclosures
made are adequate to make the information not misleading and
recommends that these unaudited financial statements be read
in conjunction with the audited financial statements and notes
included in our Form 10SB, filed with the U.S. Securities and
Exchange Commission under CIK Number 0001077915.

                                11

<PAGE>


The financial statements and accompanying notes are prepared in
accordance with generally accepted accounting principles.
Preparing financial statements requires Management to make
estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the
reported amounts of revenues and expenses during the reporting
period. These estimates and assumptions are affected by Management's
application of accounting policies. These important accounting
policies include the successful efforts method of accounting
for property and equipment, revenue recognition, accounting for
income taxes, accounting for environmental matters, and foreign
currency translation.

We have adopted Statement of Financial Accounting Standards
(SFAS) No. 121, Accounting for the Impairment of Long-Lived Assets
and for Long-Lived Assets to be Disposed of, which provides guidance
on long-lived assets and certain intangibles which are reported at
the lower of the carrying amount or their estimated recoverable amounts.

We also apply SFAS No. 128, Earnings Per Share, for the
calculation of "Basic" and "Diluted" earnings per share. Basic
earnings per share includes no dilution and is computed by dividing
income available to common stockholders by the weighted average number
of common shares outstanding for the period. Diluted earnings per
share reflects the potential dilution of securities that could
share in our earnings.

We have also adopted SFAS No. 52, Foreign Currency Translation,
which requires that the translation of the applicable foreign currency
into U.S. dollars be performed for balance sheet accounts using current
exchange rates in effect at the balance sheet date and for revenue and
expense accounts using a weighted average exchange rate during the
period. The gains or losses resulting from such translation are
included in the consolidated statements of stockholders' equity
and comprehensive income.

ITEM 3.   CONTROLS AND PROCEDURES

Within the 90 days prior to the date of this report, we have
performed an evaluation, under the supervision and with the
participation of our Management, of the effectiveness of the design
and operation of our disclosure controls and procedures pursuant to
Exchange Act Rule 13a-14. Based upon the evaluation, our Principal
Executive Officer and Principal Financial Officer concluded that the
current disclosure controls are effective in timely alerting us to
any material information required to be included in our periodic SEC
filings. There have been no significant changes in our internal
controls or in other factors that could significantly affect
internal controls subsequent to the date of this evaluation.

                              12
<PAGE>


                  PART II - OTHER INFORMATION

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

A)   The following exhibits, marked with an asterisk and required
to be filed hereunder, are incorporated herein by reference and
can be found in their entirety in our original Form SB-2
Registration Statement, filed under CIK Number 0001077915, filed
on May 27, 1999, at the SEC website at www.sec.gov:

<TABLE><CAPTION>

             <c>
Exhibit No.     Description
----------      -----------
* 3(i)          Articles of Incorporation
* 3(ii)         Bylaws
  99.1          Sec. 302 Certification
  99.2          Sec. 906 Certification

</TABLE>

B) There were no reports on Form 8-K filed during the quarter
ended March 31, 2004.

                        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 the undersigned thereunto duly authorized.

                       NATALMA INDUSTRIES, INC.,
                       a Nevada corporation (Registrant)


Dated: May 14, 2004    By:/s/ Derick Sinclair, President, CEO,
                           Secretary, Treasurer, CFO and Director


                                13

<PAGE>

         CERTIFICATION PURSUANT TO SECTION 302 OF THE ACT
         ------------------------------------------------

     I, Derick Sinclair, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Natalma
Industries, Inc.

2. Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect
to the period covered by this quarterly report.

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all
material respects the financial condition, results of operations and
cash flows of Natalma Industries, Inc. as of, and for, the periods
presented in this quarterly report.

4.  Natalma Industries, Inc.'s other certifying officers and I are
responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for
Natalma Industries, Inc. and have:

     (a) designed such disclosure controls and procedures to
     ensure that material information relating to Natalma
     Industries, Inc., including its consolidated subsidiaries,
     is made known to us by others within those entities,
     particularly during the period in which this quarterly
     report is being prepared;

     (b) evaluated the effectiveness of Natalma Industries, Inc.'s
     disclosure controls and procedures as of a date within
     90 days prior to the filing date of this quarterly report
     (the "Evaluation Date"); and

     (c) presented in this quarterly report our conclusions
     about the effectiveness of the disclosure controls and
     procedures based on our evaluation as of the Evaluation Date;

5.  The other certifying officers and I have disclosed, based on our
most recent evaluation, to our auditors and the audit committee of our
Board of Directors (or persons performing the equivalent functions):

   (a) that there were no significant deficiencies in the design or
   operation of our internal controls which could adversely affect
   our ability to record, process, summarize and report financial
   data and have advised our auditors that there were no material
   weaknesses in internal controls that we are aware of; and

   (b) that there is no fraud, whether or not material, that
   involves management or other employees who have a significant
   role in our internal controls.

6. The other certifying officers and I have indicated in this quarterly
report that there were no significant changes in internal controls or
in other factors that could significantly affect internal controls
subsequent to the date of our most recent evaluation, including any
corrective actions with regard to significant deficiencies and
material weaknesses.

	May 14, 2004         /s/ Derick Sinclair
                              ----------------------------------------
                              Derick Sinclair, Chief Executive Officer,
                              Chief Financial Officer and Chairman
                              of the Board of Directors


                               14

<PAGE>