SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

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

          [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended SEPTEMBER 30, 2000

          [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                  For the transition period from______to______

                         Commission File Number: 2-41015

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

                                    LBU, Inc.
        (Exact Name of Small Business Issuer as Specified in its Charter)

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

Nevada                                                                62-1203301
(State or Other Jurisdiction of            (I.R.S.  Employer Identification No.)
Incorporation or Organization)


310 Paterson Plank Road, Carlstadt, N.J.                                   07072
(Address of Principal Executive Offices)                              (Zip code)

Issuer's Telephone Number, Including Area Code:                   (201) 933-2800

Former Name, Former Address and Former 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  Securities  Exchange  Act of 1934 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 [ ] No [X]

As of May 4, 2000,  the Issuer had 1,814,334  shares of Common Stock,  par value
$.001, outstanding.

Transitional Small Business Disclosure Format (check one):  YES _____  NO __X__


                                       1
<PAGE>


                                    LBU, Inc.
                                      INDEX

                                                                         Page No
Part I - Financial Information:

Item 1. Condensed Balance Sheets September 30, 2000 and December 31, 1999      3

        Condensed Statements of Operations for the Nine Months Ended
        September 30, 2000 and 1999                                            5

        Condensed Statements of Cash Flows for the Nine Months Ended
        September 30, 2000 and 1999                                            6

        Notes to Condensed Financial Statements (Unaudited)                    7


Item 2. Management's Discussion and Analysis of Financial
        Condition and Results of Operations                                   10


Part II - Other Information:

Item 6. Exhibits and Reports on Form 8-K                                      13


Signatures                                                                    15


                                       2
<PAGE>


PART I

Item 1. Financial Statements


                                    LBU, Inc.
                                 Balance Sheets

                                                  September 30,    December 31,
                                                           2000            1999
                                                  -------------    ------------
Current assets:
  Cash and cash equivalents                          $   37,371      $   20,546
  Accounts receivable (net of allowance for
    bad debts of  $ 0 and $53,135 respectively)         269,182         222,813
  Inventory                                             678,950         680,084
  Deferred Tax Asset                                     15,718           4,370
  Other current assets                                   63,494          32,431
                                                     ----------      ----------
    Total current assets                              1,064,715         960,244

Noncurrent assets:
  Fixed assets, net                                     270,566         286,043
  Other assets                                          144,030          82,244
                                                     ----------      ----------

       Total assets                                  $1,479,311      $1,328,531
                                                     ==========      ==========

         LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
  Accounts payable                                   $  246,165      $  113,647
  Accrued expenses                                            0          82,009
  Customer advances                                      43,099          91,438
  Taxes payable                                               0          15,613
  Loan Payable                                          100,000               0
  Accounts payable - Reorganization Settlement           86,861               0
                                                     ----------      ----------
     Total current liabilities                          476,125         302,707
                                                     ----------      ----------
Pre-bankruptcy and long term liabilities:
  Accounts payable                                            0         792,689
  Accrued expenses                                            0          73,030
  Notes payable                                               0         739,139
  Taxes payable                                               0               0
                                                     ----------      ----------
  Pre-bankruptcy liabilities                                  0       1,604,858
Long-term liabilities
  Deferred Income Tax                                    27,240          19,744
  Accounts Payable-Reorganization Settlement              4,744               0
                                                     ----------      ----------
     Total long term liabilities                         31,984       1,624,602
                                                     ----------      ----------

         Total liabilities                              508,109       1,927,309
                                                     ----------      ----------


          See accompanying notes to the condensed financial statements


                                       3
<PAGE>


                                    LBU, Inc.
                            Balance Sheets, continued


                                                  September 30,    December 31,
                                                           2000            1999
                                                  -------------    ------------

Stockholders' equity:
  Common stock ($.001 stated value)
  50,000,000 shares authorized,
  2,041,347 and 1,359,477, respectively,
  issued and outstanding                                  1,544           1,544
Additional paid in capital                            1,148,378       1,148,379
Accumulated deficit                                    (178,720)     (1,748,701)
                                                     ----------      ----------
  Total stockholders' equity                            971,202        (598,778)
                                                     ----------      ----------

    Total liabilities and stockholder's equity       $1,479,311      $1,328,531
                                                     ==========      ==========


          See accompanying notes to the condensed financial statements


                                       4
<PAGE>


                                    LBU, Inc.
                            Statements of Operations


<TABLE>
<CAPTION>
                                                       Nine                Nine
                                                   months ended        months ended
                                               September 30, 2000   September 30, 1999
                                               ------------------   ------------------
<S>                                                <C>                 <C>
Net sales                                          $ 3,195,059         $ 2,802,050
Costs of sales                                       1,894,205           1,700,263
                                                   -----------         -----------

  Gross profit                                       1,300,854           1,101,787
                                                   -----------         -----------

  Operating expenses:
Shipping and selling                                   386,437             251,090
General and administrative                             727,466             587,395
Factor fees and interest                                77,779              87,274
                                                   -----------         -----------
  Total operating expenses                           1,191,682             925,759
                                                   -----------         -----------

  Operating income (loss)                              109,172             176,028

  Other income (expense):
Interest income                                              0                 161
Insurance proceeds in excess of replacement              8,349                   0
Rental income                                            3,900                   0
State income tax                                          (276)               (825)
Prior Year CIT C/B Recovery                                  0              25,000
Chapter 11 legal expense                               (11,254)            (47,927)
                                                   -----------         -----------

  Total other income (expense)                             719             (23,591)
                                                   -----------         -----------

Income (loss) before income taxes                      109,891             152,437

Income taxes provision                                       0                   0
                                                   -----------         -----------

Net income                                         $   109,891         $   152,437
                                                   ===========         ===========

Net income per share-Basic                         $      0.04         $      0.05
                                                   ===========         ===========

Net income per share-Fully diluted                 $      0.04         $      0.05
                                                   ===========         ===========
</TABLE>


          See accompanying notes to the condensed financial statements


                                       5
<PAGE>


                                    LBU, Inc.
                            Statements of Cash Flows


<TABLE>
<CAPTION>
                                                                 Nine                Nine
                                                             months ended        months ended
                                                          September 30, 2000  September 30, 1999
                                                          ------------------  ------------------
<S>                                                           <C>                 <C>
Cash flow from operating activities:
Net income (loss)                                             $   109,891         $ 152,437
                                                              -----------         ---------
  Adjustments to reconcile net income to net
  cash provided (used) by operating activities
Depreciation and amortization                                      48,009            13,601
  (Increase) decrease in
Accounts receivable                                               (99,504)          (84,911)
Inventories                                                         1,134           198,611
Other current assets                                              (34,915)           57,977
  Increase (decrease) in
Accounts payable                                                   37,782           (89,613)
Accrued expenses                                                  (82,009)          (71,375)
Customer Advances                                                 (48,399)           11,306
Income Taxes Payable                                              (15,613)                0
                                                              -----------         ---------
  Total adjustments                                              (193,515)           35,596
                                                              -----------         ---------
  Net cash provided by (used in) operating activities             (83,624)          188,033
                                                              -----------         ---------

  Cash flow from investing activities:
Capital expenditures                                              (97,518)          (60,032)
                                                              -----------         ---------
  Net cash used by investing activities                           (97,518)          (60,032)
                                                              -----------         ---------
  Cash flow from financing activities:
Repayment of loans                                             (2,422,033)         (220,828)
Proceeds from loans and factor advances                         2,620,000            20,000
                                                              -----------         ---------
  Net cash provided by  (used in) financing activities            197,967          (200,828)
                                                              -----------         ---------
  Net (decrease) increase in cash                                  16,825           (72,827)
Cash at beginning of period                                        20,546           145,454
                                                              -----------         ---------
Cash at end of period                                         $    37,371         $  72,627
                                                              ===========         =========

Supplemental disclosures:
  Cash paid during the period for
    Interest and factor fees                                  $    77,779         $  94,431
    Income taxes                                              $       276         $     825
</TABLE>


          See accompanying notes to the condensed financial statements


                                       6
<PAGE>


                                    LBU, Inc.
                     Notes to Condensed Financial Statements
                                   (Unaudited)


The  accompanying  unaudited  financial  statements  have been  prepared  by the
Company  pursuant to the rules and  regulations  of the  Securities and Exchange
Commission  regarding  interim  financial  reporting.  Accordingly,  they do not
include all of the  information  and  footnotes  in  accordance  with  generally
accepted accounting  principals for complete financial  statements and should be
read in  conjunction  with the  audited  financial  statements  included  in the
Company's  Annual Report on Form 10-KSB for the year ended December 31, 1999. In
the opinion of  management,  the  accompanying  unaudited  financial  statements
contain all adjustments,  consisting only of those of a normal recurring nature,
necessary for a fair presentation of the Company's financial  position,  results
of operations and cash flows at the dates and for the periods presented.

On March 23, 1999,  the company  filed  petitions for relief under chapter 11 of
the federal bankruptcy laws. The action was precipitated by the decline in sales
and gross margin and an increase in expenses  during the year ended December 31,
1999,  resulting  in the  inability  to pay  approximately  $725,000 due John P.
Holmes  Co.,  Inc.  that was due January 1, 1999 and other  liabilities  as they
became due.

A Trustee was appointed and a plan for recovery was prepared. The factor revised
their factoring and lending agreement and such financing continues. A consultant
with industry experience was retained and cost cutting was put into affect.

LBU  continued  to operate,  and  continued to factor its  receivables  with CIT
pursuant  to an  order  of the  Bankruptcy  Court.  LBU  has  filed  a  plan  of
reorganization  that provides for: (a) an extension and  modification of the CIT
agreement,  (b) payment to unsecured creditors of either: (i) one share of stock
for  every  $2.00  of  debt,  or (ii) 20  monthly  payments  equal  to  22.5% of
creditor's claims, and (c) retention of stock by existing shareholders.

The Reorganization  Plan was confirmed on January 13, 2000. JPHC elected a stock
distribution of 362,500 shares of Common Stock, under the Reorganization Plan in
satisfaction  of its  $700,000  claim.  In  addition,  JPHC  would no  longer be
entitled to the 60,000  shares  issuable  upon the  conversion  of the  $300,000
convertible note. Of the $904,858 balance of the $1,604,858  Liabilities Subject
to Compromise,  a total of $146,140 is subject to payout under the 20-month cash
payment election and additional 87,370 shares are to be issued under the 1 share
for $2 of debt election.  Management  estimates that  approximately,  $30,000 of
Liabilities Subject to Compromise is subject to dispute.  Accordingly, the total
debt  reduction  is  $1,458,718  as a result  of the  Reorganization.  The total
increase in shares issued and outstanding as a result of the Reorganization plan
is 681,870.

The  operating  results for the nine  months  ended  September  30, 2000 are not
necessarily indicative of the results to be expected for the full year.


                                       7
<PAGE>


                                    LBU, Inc.
               Notes to Condensed Financial Statements, continued
                                   (Unaudited)


Note 1 - Accounts Receivable And Factoring Arrangements

The Company entered into a factoring arrangement whereby a factor makes advances
to the  Company  based  upon a  percentage  of  certain  eligible  invoices.  In
addition,  the factor  makes  advances  to the Company  based upon its  eligible
inventory  levels.  Interest  of 2% per annum above the prime rate is charged on
outstanding advances.  The advances are collateralized by the Company's accounts
receivable,  inventories  and certain other assets.  In addition,  the Company's
President and principal  shareholder  has personally  guaranteed  advances under
these  agreements.  The factor also charges a commission  of 1 1/8% on the gross
face amount of all amounts factored, subject to a minimum commission per invoice
and other service fees.

Prior to the bankruptcy filing date, the Company and CIT revised their factoring
agreement whereby the Company repaid the $200,000 advanced during early 1999.


Note 2 - Notes and Capital Lease Payable

Notes and capital  lease  payable  consist of the  following as of September 30,
2000 and December 31, 1999:

                                                          2000            1999
                                                        -------         --------

Accounts Payable-Reorganization Settlement              $91,605         $      0
Promissory notes payable (a)                                  0          200,000
Promissory note payable(b)                                    0           30,000
Convertible notes payable (c)                                 0          500,000
Capital lease (d)                                             0            9,139
                                                        -------         --------

Total                                                    91,605          739,139
Less, current installments                               86,861                0
                                                        -------         --------
Notes and capital lease payable,
    Less current installments                           $ 4,744         $739,139
                                                        =======         ========

(a)  $200,000 of principal matured on January 1, 1999 and has become part of the
     bankruptcy proceedings.

(b)  Principal  was due to mature on June 22, 2000.  Interest  accrues at 9.12%.
     This note has become part of the bankruptcy proceedings.

(c)  Principal  of $500,000  matured on January 1, 1999.  Notes are  convertible
     into Common Stock of the Company at a fixed  conversion  price of $5.00 per
     share. This note has become part of the bankruptcy proceedings.

(d)  Lease payments are $3,812 for each year through December 31, 2000. Interest
     accrues at 12% per annum.  This  lease has  become  part of the  bankruptcy
     proceedings.


                                       8
<PAGE>


                                    LBU, Inc.
               Notes to Condensed Financial Statements, continued
                                   (Unaudited)


Note 3 - Commitments and Contingencies

The Company  entered  into a ten-year  lease  agreement  for its  facilities  in
Carlstadt,  New Jersey,  which  commenced  on July 1, 1995.  The minimum  future
rental payments under the  non-cancelable  operating  leases as of June 30, 2000
are:

                 Year Ending
                 December 31                       Amount
                 -----------                       ------
                    2000                         $ 38,742
                    2001                          160,121
                    2002                          167,465
                    2003                          172,521
                    2004                          179,368


                                       9
<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations.

Forward Looking Statements and Associated Risks

The discussion and analysis which follows in this Quarterly  Report and in other
reports and documents of the Company and oral  statements  made on behalf of the
Company by its  management  and  others may  contain  trend  analysis  and other
forward-looking  statements  within the meaning of Section 21E of the Securities
Exchange Act of 1934 which reflect the  Company's  current views with respect to
future events and financial  results.  These  include  statements  regarding the
Company's earnings,  projected growth and forecasts,  and similar matters, which
are not historical facts. The Company reminds  stockholders that forward-looking
statements  are merely  predictions  and  therefore  are  inherently  subject to
uncertainties  and other  factors  which could cause the actual future events or
results  to  differ  materially  from  those  described  in the  forward-looking
statements.  These  forward-looking  statements  involve risks and uncertainties
including the emerging of the Company from bankruptcy proceedings,  availability
and terms of additional  financing;  changes which could affect customer payment
practices or customer spending; industry trends; the loss of major customers and
changes in demand for the Company's products; the timing of orders received from
customers;  cost and availability of raw materials;  increases in costs relating
to manufacturing and  transportation  of products;  the outcome of litigation to
which the Company is a party and the seasonal nature of the Company's business.

The  forward-looking  statements  contained  in this  Quarterly  Report and made
elsewhere by or on behalf of the Company  should be considered in light of these
factors.

The Company has attempted to identify additional  significant  uncertainties and
other factors affecting forward-looking statements in Exhibit 99 incorporated by
reference to this Quarterly Report  ("Additional  Information  Regarding Forward
Looking  Statements").  The  Company  will  provide  copies  of  Exhibit  99  to
stockholders  free of charge upon receipt of a written request  submitted to the
Company's Secretary at LBU, Inc., 310 Paterson Plank Road, Carlstadt, New Jersey
07072.  Stockholders  may also obtain copies of Exhibit 99 for a nominal  charge
from the Public Reference  Section of the Securities and Exchange  Commission at
450 Fifth Street,  N.W.,  Washington D.C. 20549 or at the Commission's  website:
http://www.sec.gov.

Results of Operations

Nine months ended September 30, 2000 versus nine months ended September 30, 1999

The  Company's  net sales  increased by $ 393,009 or 14% to $ 3,195,059  for the
nine months ended  September 30, 2000 from $ 2,802,050 for the nine months ended
September 30, 1999. This increase was due primarily to the addition of new sales
people.


                                       10
<PAGE>


Costs of sales  increased by $ 193,942 to $ 1,894,205  (or 60% of net sales) for
the nine months ended  September 30, 2000 from $ 1,700,263 (or 61% of net sales)
for the nine months  ended  September  30,  1999.  This  increase  is  primarily
attributable to the increase in sales in the 2000 nine-month period.

As a result of the foregoing,  gross profit increased by $199,067 to $ 1,300,854
for the nine months  ended  September  30,  2000 from $  1,101,787  for the nine
months ended September 30, 1999.

Shipping and selling  costs  increased by $ 135,347 to $ 386,437 (or 12 % of net
sales) for the nine months  ended  September  30, 2000 from $ 251,090 (or 9 % of
net sales) for the nine  months  ended  September  30,  1999.  This  increase is
primarily due to the hiring of additional  salespeople and the implementation of
an aggressive commission schedule.

General and administrative expenses increased by $ 140,071 to $ 727,466 (or 23 %
of net sales) for the nine months  ended  September  30, 2000 from $ 587,395 (or
21% of sales) for the nine  months  ended  September  30,  1999.  This  increase
primarily is due the hiring of a data processing consultant to implement the new
computer system and an increase in insurance costs and administrative salaries.

Factor fees and  interest  decreased by $ 9,495 to $ 77,779 (or 3% of sales) for
the nine months ended  September 30, 2000 from $ 87,274 (or 4% of sales) for the
nine months ended  September  30, 1999.  This  decrease is a direct  result of a
decrease in factoring  activity  and the  repayment of debt to the factor at the
end of March 1999.

As a result of the foregoing, total operating expenses increased by $ 265,923 to
$1,191,682  (or 38% of sales) for the nine months ended  September 30, 2000 from
$925,759 (or 33% of sales) for the nine months ended September 30, 1999.

As a result of the foregoing,  the Company incurred a net income of $109,891 for
the nine months ended  September  30, 2000 as compared to net income of $152,437
for the nine months ended September 30, 1999.

Liquidity and Capital Resources

The Company's  cash position as of September 30, 2000 and September 30, 1999 was
$37,371 and  $20,546,  respectively.  Net cash  provided by (used in)  operating
activities for the nine months ended  September 30, 2000 and 1999 was $ (83,624)
and $188,033 ,  respectively,  representing an decrease of $ 271,657 in the 2000
period.

During  the nine  months  ended  September  30,  2000,  cash  used in  investing
activities totaled $ 97,518,  which consists  primarily of capital  expenditures
for manufacturing equipment in the Company's Carlstadt facility and a new office
copier for  administrative  use. Cash used for investing  activities  during the
nine months ended September 30, 1999 was $60,032 which consisted of upgrading of
the Company's computer system to ready for the year 2000.


                                       11
<PAGE>


During the nine months  ended  September  30,  1999,  net cash used in financing
activities  totaled  $200,828  which  includes a repayment  of the loan from the
company's  factor,  CIT, in the amount of $220,828 and the  borrowing of $20,000
from its bank  credit  line prior to the filing of  bankruptcy.  During the nine
months ended September 30, 2000, net cash provided by financing activities was $
197,967 which is a direct result of advances from Company's  factor,  CIT, along
with a short term capital loan from an outside party.

Currently,  LBU's primary  source of financing is the CIT Group  ("CIT"),  which
provides factoring and accounts receivable financing.  The Company pays a 1.125%
factor  charge  on its  invoices  for  the  guarantee  of  payment  on  eligible
receivables,  which CIT then collects from the Company's customers.  The Company
pays 2% above  the  prime-lending  rate on  borrowings  up to 85% of an  invoice
amount.

During  April 1998,  CIT agreed to make  advances  to the  Company  based upon a
percentage  of its levels of  eligible  inventories.  As of December  31,  1999,
$200,000  had  been  advanced  to the  Company  under  this  arrangement.  As of
September  30,  2000,  the  company  repaid the  $200,000  advanced  by CIT from
accounts  receivable payments as part of the agreement with CIT to continue with
its factoring arrangement during the bankruptcy proceedings.

Income taxes

As of December  31, 1999 the  Company had federal and state net  operating  loss
carry forwards of approximately  $1,750,000 and $1,920,000  respectively,  which
will  begin to expire in 2018 and  2007,  respectively.  As a result of the debt
compromised by the final bankruptcy settlement,  the federal and state operating
carry  forward  losses as of  September  30,  2000 are  $291,282  and  $111,292,
respectively, which will begin to expire in 2019 and 2008, respectively.

New Financial Standards

In June 1997,  the  Financial  Accounting  Standards  Board  (the  FASB)  issued
Statement of Financial  Accounting Standards ("SFAS") No. 131, "Disclosure about
Segments  of an  Enterprise  and Related  Information"  ("SFAS  131").  SFAS 131
establishes standards for the way public business enterprises report information
about operating segments in annual financial  statements and requires that those
enterprises  report selected  information about operating  segments in financial
reports issued to shareholders.  It also  establishes  standards for disclosures
about products and services,  geographic areas and major customers.  SFAS 131 is
effective for financial statements for fiscal years beginning after December 15,
1997.  Financial  statement  disclosures  for prior  periods are  required to be
restated.

The  adoption  of  SFAS  131 has  had no  impact  on the  Company's  results  of
operations,  financial position or cash flows.  Management does not receive, nor
does the Company generate,  discrete financial operating results for any portion
of the business other than for product sales.


                                       12
<PAGE>


                           PART II. Other Information

Item 6. Exhibits and Reports on Form 8-K

(a)   Exhibit No.   Description
      -----------   -----------

      2.1           Plan of Reorganization dated February 17, 1995 by and
                    between New Century Media, Ltd. a Nevada Corporation, and
                    LBU, Inc. a Delaware Corporation.(1)

      3.1           Certificate of Incorporation of LBU, Inc. dated September 2,
                    1994. (2)

      3.2           By-laws of LBU, Inc. dated October 4, 1994. (2)

      3.3           Form of two-year stock purchase warrant.(3)

      3.4           Form of Three-year stock purchase warrant.(3)

      10.1          Factoring Agreement dated October 25, 1993 by and between
                    LBU, Inc. (Delaware) and The CIT Group/Commercial Services
                    Inc. (4)

      10.2          Guaranty dated October 25, 1993 by and between CIT and
                    Jeffrey and Isel Mayer, individually, relating to the above
                    Factoring Agreement.(4)

      10.3          Inventory Security Agreement dated January 4, 1995 by and
                    between LBU, Inc. and The CIT Group/Commercial Services,
                    Inc.(4)

      10.4          Lease agreement dated April 1, 1995 by and between Albert
                    Frassetto Enterprises, a sole proprietorship, and Bags of
                    Carlstadt, Inc. (4)

      10.5          Subscription Agreement dated March 27, 1997 by and between
                    JPHC and the Registrant.(4)

      10.6          Promissory note dated August 21, 1997, as amended on
                    February 21, 1998, by and between the Registrant and John P.
                    Holmes & Company, Inc. (4)

      10.7          Promissory note dated September 19, 1997, as amended on
                    November 21, 1997 and February 21, 1998, by and between the
                    Registrant and JPHC.(4)

      10.8          Consulting agreement dated February 19, 1998 by and between
                    JPO, LLC and the Registrant. (4)

      21.1          List of Subsidiaries

                    Subsidiary                         State of Incorporation
                    ----------                         ----------------------
                    LBU, Inc.                          Delaware
                    Bags of Carlstadt, Inc.            New Jersey

      27.1          Financial Data Schedule (filed via EDGAR only).

      99            Additional Information Regarding Forward Looking Statements

     (1)  Filed as an Exhibit to the New Century Media, Ltd. (a predecessor of
          the Registrant) Form 10-K/A for the year ended December 31, 1994 dated
          March 10, 1995 and incorporated herein by reference thereto.


                                       13
<PAGE>


     (2)  Filed as an Exhibit to the New Century Media, Ltd. Form 10-Q for the
          quarter ended September 30, 1994 dated November 8, 1994 and
          incorporated herein by reference thereto.

     (3)  Filed as an exhibit to the Registrant's Form 10-QSB for the quarter
          ended March 31, 1998 and incorporated herein by reference thereto.

     (4)  Filed as an Exhibit to the Company's Form 10-QSB/a for the year ended
          December 31, 1997 (filed on April 22, 1998) and incorporated herein by
          reference thereto.


(b)  Reports on Form 8K filed during the last quarter of the period covered by
     this report:

     None.


                                       14
<PAGE>


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  persons on behalf of the  registrant and
in the capacities and on the dates indicated.

Date: February 5, 2001


                                        LBU, INC.

                                        By:  /s/  Jeffrey Mayer
                                        ------------------------
                                             Jeffrey Mayer
                                             Chairman of the Board
                                             Chief Executive Officer, President
                                             (Principal executive and financial
                                               And accounting officer)
                                               Director


                                       15