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, 2005

[ ] 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

At March 31, 2005, there were 11,777,500 shares of our common
stock issued and outstanding.


                                1

<PAGE>

                          TABLE OF CONTENTS
                          -----------------

                   PART I: FINANCIAL INFORMATION

Item 1.  Financial Statements......................................... 2

Item 2.  Management's Discussion and Analysis or Plan of Operation ... 9

Item 3.  Controls and Procedures...................................... 10

                    PART II: OTHER INFORMATION

Item 6.  Exhibits..................................................... 11

Signatures............................................................ 11


                    PART 1. FINANCIAL INFORMATION
                    -----------------------------

Item 1. Financial Statements
----------------------------
The financial statements included herein have been prepared by us,
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
our Form 10KSB for the year ended December 31, 2004, which can be
found on the SEC website (www.sec.gov) under SEC File Number 333-79405.


                                2
<PAGE>

<TABLE><CAPTION>
                   NATALMA INDUSTRIES, INC.
              (An Exploration Stage Enterprise)
                       Balance Sheets
                        A S S E T S
                        -----------
                                  March 31,   December 31,
                                     2005        2004
                                  (Unaudited)   (Audited)
                                  ---------   -----------
 <S>                                  <C>          <C>
Current Assets
--------------
Cash                              $ 228,441    $ 228,798
                                  ---------    ---------
Total current assets                228,441      228,798
                                  ---------    ---------
Total assets                      $ 228,441    $ 228,798
                                  =========    =========
              L I A B I L I T I E S
              ---------------------
Current Liabilities
-------------------
Accounts payable and
 accrued expenses                    2,600        2,050
Officer advances                         -            -
                                   -------      -------
Total current liabilities            2,600        2,050
                                   -------      -------
Total liabilities                    2,600        2,050
                                   -------      -------
Commitments and contingencies            -            -

          S T O C K H O L D E R S' E Q U I T Y
          ------------------------------------
Common stock
75,000,000 authorized shares,
par value $.001, 11,777,500
shares issued and outstanding        11,778      11,778

Additional paid-in capital          331,152     331,152

Accumulated deficit during the
 exploration period                (117,089)   (116,182)
                                  ---------   ---------
Total stockholders' equity          225,841     226,748
                                  ---------    --------
Total liabilities and
stockholders' equity              $ 228,441   $ 228,798
                                  =========   =========
</TABLE>
The accompanying notes are integral part of these financial statements.
                               3
<PAGE>

<TABLE><CAPTION>
                     NATALMA INDUSTRIES, INC.
               (An Exploration Stage Enterprise
                 Statements of Operations
                          (Unaudited)

                            ----------------------------   Inception,
                             For the Three Months Ended   July 9, 1998,
                                      March 31               through
                                2005             2004     March 31, 2005
                            -------------    -----------  --------------
<S>                             <C>              <C>           <C>
Revenues:
---------
Revenues                     $         -     $         -    $        -
                             -----------     -----------    ----------
Operating Expenses:
-------------------
Professional fees                  1,836               -        50,021
Other general and
administrative expenses                6              87        16,343
                             -----------     -----------    ----------
Total operating expenses           1,842              87        66,364
                             -----------     -----------    ----------
Income(loss) from operations      (1,842)            (87)      (66,364)
                             -----------     -----------    ----------
Other income (expense):
-----------------------
Interest income                      935           1,694         4,775
Expired option to purchase
mineral property                       -               -      (55,500)
                             -----------     -----------    ----------
Total other income (expense)         935           1,694      (50,725)
                             -----------     -----------    ----------
Income before taxes on income      (907)           1,607     (117,089)

Provision(credit) for Income Taxes:
-----------------------------------
Income tax (benefit)                  -               -             -
                             -----------     -----------    ----------
Net income(loss)             $     (907)     $     1,607    $(117,089)
                             ===========     ===========    ==========
Basic and diluted                 (0.00)            0.00
earnings per common share    -----------     -----------

Weighted average number of
common shares used in per    11,777,500       11,777,500
share calculations           ==========      ===========

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

                                         4
<PAGE>
<TABLE><CAPTION>
                       NATALMA INDUSTRIES, INC.
                  (An Exploration Stage Enterprise)
                 Statements of  Stockholders' Equity

                                        Accumulated
                                          Deficit
                      $.001   Paid-In   During the         Stockholders'
            Shares  Par Value Capital  Exploration Period     Equity
            ------  --------- ------- -------------------  ------------
<S>           <C>      <C>      <C>           <C>               <C>
Balance,
July 9, 1998
(Inception)       -   $    -   $    -     $      -           $      -

Issuance of
Common
Stock     3,000,000    3,000      -            -              3,000
Net Income
(Loss)          -        -        -            -                  -
          ---------  --------  -------   ----------         --------
Balance,
December
31, 1998  3,000,000    3,000      -            -              3,000
Issuance of
Common
Stock     8,500,000    8,500     72,000        -             80,500

Expenses
for stock
offering        -        -       18,070        -            (18,070)
Net Income
(Loss)          -        -        -         (57,849)        (57,849)
          ---------  --------  --------   ----------         --------
Balance
December 31,
1999     11,500,000   11,500     53,930     (57,849)          7,581
         ----------  --------  --------   ----------         --------
Net Income
(Loss)          -         -       -          (1,691)         (1,691)
          ---------  -------    -------    ----------        --------
Balance
December 31,
2000     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 of
stock
offering     25,000       25     24,975           -          25,000
Net Income
(Loss)          -         -        -        (34,009)        (34,009)
          ---------  --------  --------   ----------         --------
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)          -         -        -         (5,480)         (5,480)
          ---------  --------  --------   ----------       --------
Balance,
December
31, 2004 11,777,500   11,778   331,152     (116,182)        226,748

Net Income
(Loss)          -         -        -           (907)           (907)
          ---------  --------  --------   ----------       --------
Balance,
March 31,
2005     11,777,500   11,778   331,152     (117,089)        225,841
         ==========  =======   ========   =========        =========
</TABLE>

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

                                   5
<PAGE>
<TABLE><CAPTION>
                        NATALMA INDUSTRIES, INC.
                  (An Exploration Stage Enterprise)
                        Statements of Cash Flows
                              (Unaudited)

                            ----------------------------   Inception,
                             For the Three Months Ended   July 9, 1998
                                     March 31                Through
                            ----------------------------     March 31
                                2005             2004          2005
                            -------------    -----------    ----------
<S>                             <C>              <C>           <C>
Cash flows from operating activities:
-------------------------------------
Net income (loss)            $     (907)      $    1,607    $ (117,089)
Changes in operating assets
 and liabilities:
Stock issued for services
 and mineral option                    -               -         3,500
Increase (decrease) in               550           (550)         6,800
 accounts payable           -------------    -----------    ----------
Net cash flows from                 (357)          1,057      (106,789)
 operating activities       -------------    -----------    ----------

Cash flows from
investing activities:                   -              -             -
---------------------       -------------    -----------    ----------
Net cash flows from                     -              -             -
 investing activities       -------------    -----------    ----------

Cash flows from
financing activities:
---------------------
Payments on stockholder advance        -               -        (4,200)
Proceeds from issuance of stock        -               -       357,500
Costs incurred to raise capital        -               -       (18,070)
                            -------------    -----------    ----------
Net cash flows from                    -               -       335,230
financing activities        -------------    -----------    ----------
Net increase (decrease) in cash     (357)          1,057       228,441

Cash and equivalents,             228,798        234,478            -
 beginning of period        -------------    -----------    ----------

Cash and equivalents,       $     228,441    $   235,535   $  228,441
end of period               =============    ===========    ==========

Supplemental cash flow disclosures:
Cash paid for interest      $          -     $         -    $        -
Cash paid for income taxes  $          -     $         -    $        -
Stock issued for option
 to purchase                           -               -       500,000
Stock issued for services              -               -     3,025,000
</TABLE>
The accompanying notes are integral part of these financial statements.

                               5
<PAGE>

                        NATALMA INDUSTRIES, INC.
                     Notes to Financial Statements
                             March 31, 2005
                              (Unaudited)

The accompanying unaudited interim financial statements include all
adjustments, which in the opinion of management, are necessary in order
to make the accompanying financial statements not misleading, and are
of a normal recurring nature.  However, the accompanying unaudited
financial statements do not include all of the information and
footnotes necessary for a complete presentation of financial position,
results of operations, cash flows and stockholders' equity in conformity
with generally accepted accounting principles.  Except as disclosed
herein, there has been no material change in the information disclosed
in the notes to the financial statements included our Form 10-KSB for
the year ended December 31, 2004.  Operating results for the three
months ended March 31, 2005, are not necessarily indicative of the
results that can be expected for the year ended December 31, 2005.

Note 1 - 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.

Note 2 - FUTURE OPERATIONS
--------------------------
At December 31, 2004, the Company was not currently engaged in an
operating business and expects to incur development stage operating
losses for the next year to eighteen months.  It intends to rely on
officers and directors to perform essential functions without
compensation until a business operation can be commenced.  Management
believes the Company has sufficient capital to implement its business
plan, and thus will continue as a going concern during this period
while the plans are implemented.   No value has been recorded in the
financial statements for the services rendered by officers and
directors, as the amount is immaterial to the financial statements.

Note 3 - RELATED PARTIES
------------------------
Accounts payable and accrued expenses include $500 payable to the
spouse of our President and CEO.   Professional fees include $500 for
services rendered by the spouse.

Note 4 - INCOME TAXES
---------------------
The Company follows Statement of Financial Accounting Standards Number
109 (SFAS 109), "Accounting for Income Taxes." Deferred income taxes
reflect the net effect of (a) temporary difference between carrying
amounts of assets and liabilities for financial purposes and the
amounts used for income tax reporting purposes, and (b) net operating
loss carryforwards. No net provision for refundable Federal income tax
has been made in the accompanying statement of loss because no
recoverable taxes were paid previously. Similarly, no deferred tax
asset attributable to the net operating loss carryforward has been
recognized, as it is not deemed likely to be realized.

                                 6
<PAGE>

                        NATALMA INDUSTRIES, INC.
                     Notes to Financial Statements
                             March 31, 2005
                              (Unaudited)

The provision for refundable Federal income tax consists of the
following:
                                                 March 31,  December 31,
                                                    2005         2004
                                                (Unaudited)   (Audited)
                                             --------------------------
Refundable Federal income tax attributable to:
 Current operations                               ($300)       $(1,800)
 Less, Change in valuation allowance                300          1,800
                                             --------------------------
    Net refundable amount                             -              -
                                             ==========================

The cumulative tax effect at the expected rate of 34% of significant
items comprising our net deferred tax amount is as follows:

                                                 March 31,  December 31,
                                                   2005           2004
                                                (Unaudited)   (Audited)
                                            ---------------------------
Deferred tax asset attributable to:
 Net operating loss carryover                    $16,200        $15,900
 Less, Valuation allowance                       (16,200)       (15,900)
                                             --------------------------
    Net deferred tax asset                             -              -
                                             ==========================


At March 31, 2004, we had an unused net operating loss carryover
approximating $47,800 that is available to offset future taxable
income; it expires beginning in 2018.


                               7
<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.
-----------------------------------------------------------------
The following discussion should be read in conjunction with the information
contained in the audited financial statements and notes thereto set forth in
our Annual Report on Form 10-KSB for the year ended December 31, 2004, which
can be found in its entirety on the SEC website at www.sec.gov, under our
SEC File Number 333-79405.

Note Regarding Forward-Looking Statements
-----------------------------------------
The statements contained in this Form 10-QSB that are not purely historical are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These include statements about our expectations, beliefs,
intentions or strategies for the future, which are indicated by words or
phrases such as anticipate, expect, intend, plan, will, the Company believes,
management believes and similar words or phrases. The forward-looking
statements are based on our current expectations and are subject to certain
risks, uncertainties and assumptions. Our actual results could differ
materially from results anticipated in these forward-looking statements. All
forward-looking statements included in this document are based on information
available to us on the date hereof, and we assume no obligation to update any
such forward-looking statements.

Results of Operations
---------------------
Three Months Ended March 31, 2005 compared to Three Months Ended March 31, 2004
-------------------------------------------------------------------------------
We are an exploration stage company and have not yet generated any revenues
since inception.

Our operating expenses for the period ended March 31, 2005 were $1,842,
consisting of general and administrative expenses of $6 and professional fees
of $1,836, as compared to operating expenses of $87 for the three months ended
March 31, 2004, consisting solely of general and administrative expenses. The
increase in operating expenses for the three months ended march 31, 2005 was
attributed to professional fees incurred to prepare and file our annual report
for the year ended December 31, 2004 during the quarter.

Net loss was $907 or $NIL per share for the three months ended March 31, 2005
as compared to a net profit of $1,607 or $NIL per share for the three months
ended March 31, 2004.

Liquidity and Capital Resources
-------------------------------
At March 31, 2005, we had $228,441 in cash in the bank.

Net cash used in operating activities for the three months ended March 31,
2005 was $357, as compared to net cash generated by operating activities of
$1,057 for the three months ended March 31, 2004. Net cash
used in operating activities in the three months ended March 31, 2005 was
attributed to general and administrative expenses incurred in day-to-day
operations.  Net cash generated by operating activities in the three
months ended March 31, 2004 was attributed to Interest income offset by
general and administrative expenses incurred in day-to-day operations

There were no cash flows from investing or financing activities during the
three months ended March 31, 2005 or 2004.

Our stockholders' equity was $225,841 at March 31, 2005.


                                      8
<PAGE>

While we believe our current capital will be sufficient to sustain
operations for the next twelve months, there can be no guarantee that we
will have sufficient capital or will be able to obtain sufficient capital
to meet our operational obligations or execute our business plans.

In the next 12 months, we do not intend to spend any substantial funds on
research and development and do not intend to purchase any major equipment.

We do not intend to hire any new employees during the ensuing year, unless
our business operations expand sufficiently to warrant additional staff.

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 or revenues.

Plan of Operation
-----------------
In December, 1998, we entered into an Option to Purchase Agreement with
John Martin, an unrelated third party, to acquire 100% of the rights,
titles and interests in and to a total of 10 mining claims in the North
Mt. Lorne Properties, Per 1-10 mineral claims, Grant No. YC08501-YC08510,
in the Whitehorse Mining  District,  Yukon Territory, Canada, in exchange
for $55,000 U.S. in cash and  500,000  shares  of Registrant's restricted
common  stock. On March 16, 1999, we exercised the Option and acquired the
mining claims. As part of the Agreement, we agreed to pay a 2% net smelter
return, which means 2% of the net proceeds from the sale of any minerals
after deducting the costs of extracting and smelting the minerals,
excluding any administrative or selling costs, to Mr. Martin on any and
all minerals we may locate and produce on the properties. In addition, we
were required to complete a minimum of $80,000 Cdn. Exploration and
development work on the properties on or before September 1, 1999;
however, since we have not yet completed the exploration work on the
properties, this date has been extended by a verbal agreement between the
parties to December 31, 2005.

The existing roads leading to the properties in the Yukon Territory
are rough-graded dirt and, during rainy weather, are sometimes
inaccessible or washed out. To date, we have not performed any geological
work on any of the claims, as we will not be able to perform full
exploration without the assistance of a major mining company. We are
concentrating all of our current efforts on finding a partner before the
Option expires on December 31, 2005.

Off-Balance Sheet Arrangements
------------------------------
We have no off-balance sheet arrangements.



                                      9
<PAGE>


ITEM 3. CONTROLS AND PROCEDURES
-------------------------------
Evaluation of Disclosure Controls and Procedures
------------------------------------------------
Under the supervision and with the participation of our management, including
our principal executive officer and the principal financial officer, we have
conducted an evaluation of the effectiveness of the design and operation of
our disclosure controls and procedures, as defined in Rules 13a-15(e) and
15d-15(e) under the Securities Exchange Act of 1934, as of the end of the
period covered by this report. Based on this evaluation, our principal
executive officer and principal financial officer concluded as of the
evaluation date that our disclosure controls and procedures were effective
such that the material information required to be included in our Securities
and Exchange Commission reports is recorded, processed, summarized and
reported within the time periods specified in SEC rules and forms relating to
our company, including any consolidating subsidiaries, and was made known to
us by others within those entities, particularly during the period when this
report was being prepared.

Additionally, there were no significant changes in our internal controls or
in other factors that could significantly affect these controls subsequent
to the evaluation date. We have not identified any significant deficiencies
or material weaknesses in our internal controls, and therefore there were no
corrective actions taken.


                 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 herein are incorporated by reference and can be found in
their entirety in our original Form SB-2 registration statement,
filed on May 27, 1999, under SEC File Number 333-79405:

<TABLE><CAPTION>

                 <c>
Exhibit No.           Description
----------            -----------
*  3(i)               Articles of Incorporation
*  3(ii)              Bylaws
* 10.1                Option to Purchase Agreeement
* 10.2                Assignment of Option to Purchase
* 10.3                Amendment to Option to Purchase
  31                  Sec. 302 Certification
  32		      Sec. 906 Certification
</TABLE>

B) One report on Form 8-K filed was during the quarter to disclose our
changein accounting firms due to the resignation of our previous auditors.
The Form 8-K can be found in its entirety on the SEC website at
www.sec.gov under our SEC File Number 333-79405.


                             10
<PAGE>


                        SIGNATURES
                        ----------

Pursuant to the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

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

Dated: May 16, 2005       /s/ Derick Sinclair
                          By: Derick Sinclair, President, CEO,
                              Secretary, Treasurer, CFO, Principal
                              Accounting Officer and Director

In accordance with the Exchange Act, this report has been signed
below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.

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

Dated: May 16, 2005       /s/ Derick Sinclair
                          By: Derick Sinclair, President, CEO,
                              Secretary, Treasurer, CFO, Principal
                              Accounting Officer and Director












                                 11

<PAGE>