UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

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

            FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2002

                                       OR

[ ]     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: 000-26354

                           TRIMAINE HOLDINGS, INC.
             (Exact name of Registrant as specified in its charter)


               WASHINGTON                                        91-1636980
          (State  or  other  jurisdiction of                  (I.R.S. Employer
            incorporation  or organization)                  Identification No.)

      FLOOR 21, MILLENNIUM TOWER, HANDELSKAI 94-96, A-1200, VIENNA, AUSTRIA
                               (Address of office)

                                 (43) 1 240 25 102
              (Registrant's telephone number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  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
                                                   -----       -----

Indicate the number of shares outstanding of each of the Registrant's classes of
common  stock,  as  of  the  latest  practicable  date:

               Class             Outstanding at November 13, 2002
               -----             --------------------------------
           Common  Stock,                   15,293,697
          $0.01 par value


<PAGE>


FORWARD-LOOKING  STATEMENTS

Statements  in  this report, to the extent that they are not based on historical
events,  constitute  forward-looking  statements.  Forward-looking  statements
include,  without  limitation,  statements  regarding  the  outlook  for  future
operations, forecasts of future costs and expenditures, the evaluation of market
conditions, the outcome of legal proceedings, the adequacy of reserves, or other
business  plans.  Investors  are  cautioned  that forward-looking statements are
subject  to  an inherent risk that actual results may vary materially from those
described  herein.  Factors  that  may  result  in such variance, in addition to
those  accompanying  the forward-looking statements, include changes in interest
rates,  prices  and  other  economic conditions; actions by competitors; natural
phenomena;  actions  by  government  and  regulatory  authorities; uncertainties
associated  with  legal proceedings; technological development; future decisions
by management in response to changing conditions; and misjudgments in the course
of  preparing  forward-looking  statements.




                          PART I. FINANCIAL INFORMATION
                                  ---------------------


ITEM  1.  FINANCIAL  STATEMENTS

                            TRIMAINE HOLDINGS, INC.

                        CONSOLIDATED FINANCIAL STATEMENTS

                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002

                                  (UNAUDITED)


                                        2


<PAGE>


                             TRIMAINE HOLDINGS, INC.
                           CONSOLIDATED BALANCE SHEETS
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>
                                       SEPTEMBER 30, 2002    DECEMBER 31, 2001
                                       ------------------    -----------------
<S>                                    <C>                   <C>
                             ASSETS

Current Assets
  Cash and cash equivalents              $         3,538     $         5,919
  Accounts receivable                                718                   -
  Real estate held for development
    and sale                                       1,224               1,149
  Other                                              426                 163
                                         ---------------     ---------------
      Total current assets                         5,906               7,231

  Securities                                      13,363              21,516
                                         ---------------     ---------------
                                         $        19,269     $        28,747
                                         ===============     ===============


             LIABILITIES AND SHAREHOLDERS' EQUITY


Current Liabilities
  Accounts payable                       $            10     $           173
  Accrued liabilities                                163                 166
  Advances from affiliates                           598               1,591
                                         ---------------     ---------------
      Total current liabilities                      771               1,930

Deferred Income Tax Liability                        830               3,551
                                         ---------------     ---------------
                                                   1,601               5,481

Shareholders' Equity
  Preferred stock                                      1                   1
  Common stock                                       153                 153
  Additional paid-in capital                      16,340              16,358
  Deficit                                           (882)               (683)
  Accumulated other comprehensive income           2,056               7,437
                                         ---------------     ---------------
      Total equity                                17,668              23,266
                                         ---------------     ---------------
                                         $        19,269     $        28,747
                                         ===============     ===============


</TABLE>


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


                                        3


<PAGE>


                             TRIMAINE HOLDINGS, INC.
      CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (DEFICIT)
                                   (UNAUDITED)
                (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

<TABLE>
<CAPTION>
                                    FOR THE NINE          FOR THE NINE
                                    MONTHS ENDED          MONTHS ENDED
                                    SEPTEMBER 30, 2002    SEPTEMBER 30, 2001
                                    ------------------    ------------------
<S>                                 <C>                   <C>
REVENUES
Dividend and other                   $             356      $            423
                                     -----------------      ----------------

COSTS AND EXPENSES
General and administrative expenses                194                   914
Interest                                             9                     9
                                     -----------------      ----------------
                                                   203                   923
                                     -----------------      ----------------

Income (loss) before income tax                    153                  (500)

Income tax expenses (benefits)                      52                   (67)
                                     -----------------      ----------------

Net income (loss)                                  101                  (433)

Retained earnings (deficit),
  beginning of period                             (683)                  734
Dividends paid on preferred shares                (300)                 (300)
                                     -----------------      ----------------
Retained earnings (deficit),
  end of period                      $            (882)     $              1
                                     =================      ================

Basic and diluted loss per share     $           (0.01)     $          (0.04)
                                     =================      ================


</TABLE>


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


                                        4


<PAGE>



                             TRIMAINE HOLDINGS, INC.
      CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (DEFICIT)
                                   (UNAUDITED)
                (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

<TABLE>
<CAPTION>
                                     FOR THE THREE         FOR THE THREE
                                     MONTHS ENDED          MONTHS ENDED
                                     SEPTEMBER 30, 2002    SEPTEMBER 30, 2001
                                     ------------------    ------------------
<S>                                  <C>                   <C>
REVENUES
Dividend and other                   $              75      $              49
                                     -----------------      -----------------

COSTS AND EXPENSES
General and administrative expenses                 91                    304
Interest                                             5                      2
                                     -----------------      -----------------
                                                    96                    306
                                     -----------------      -----------------

Loss before income tax                             (21)                  (257)

Income tax benefits                                 (7)                  (229)
                                     -----------------      -----------------

Net loss                                           (14)                   (28)

Retained earnings (deficit),
  beginning of period                             (868)                    29
                                     -----------------      -----------------
Retained earnings (deficit),
  end of period                      $            (882)     $               1
                                     =================      =================

Basic and diluted loss per share     $           (0.01)     $           (0.01)
                                     =================      =================


</TABLE>


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


                                        5


<PAGE>


                             TRIMAINE HOLDINGS, INC.
                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>
                                FOR THE NINE          FOR THE NINE
                                MONTHS ENDED          MONTHS ENDED
                                SEPTEMBER 30, 2002    SEPTEMBER 30, 2001
                                ------------------    ------------------
<S>                             <C>                   <C>
Net income (loss)                  $          101        $        (433)

Other comprehensive gain (loss):
  Unrealized gain (loss)
    on securities, net of taxes            (5,381)               3,754
                                   --------------        -------------

Total comprehensive income (loss)  $       (5,280)       $       3,321
                                   ==============        =============


</TABLE>


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


                                        6


<PAGE>


                             TRIMAINE HOLDINGS, INC.
                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)
<TABLE>
<CAPTION>



                                   FOR THE THREE        FOR THE THREE
                                   MONTHS ENDED         MONTHS ENDED
                                   SEPTEMBER 30,2002    SEPTEMBER 30, 2001
                                   -----------------   -------------------
<S>                                <C>                  <C>
Net loss                            $           (14)    $             (28)

Other comprehensive gain (loss):
  Unrealized gain (loss) on
    securities, net of taxes                 (1,864)                  281
                                    ---------------     -----------------

Total comprehensive income (loss)   $        (1,878)      $           253
                                    ===============       ===============


</TABLE>


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


                                        7

<PAGE>

                             TRIMAINE HOLDINGS, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>
                                           FOR THE NINE          FOR THE NINE
                                           MONTHS ENDED          MONTHS ENDED
                                           SEPTEMBER 30, 2002    SEPTEMBER 30, 2001
                                           ------------------    ------------------
<S>                                        <C>                   <C>
Cash Flows from Operating Activities
  Net income (loss) from operation          $          101        $          (433)
  Adjustments to reconcile net income
    (loss) to net cash provided by
      (used in) operating activities                     -                      -

  Changes in current assets and liabilities:
    Accounts receivable                               (718)                 3,423
    Real estate held for development and sale          (75)                  (148)
    Advances from affiliates                             -                    403
    Accounts payable and accrued liabilities          (166)                     7
    Amount due to affiliates                          (993)                     -
    Income tax liabilities                               -                    404
    Deferred income tax liabilities                     51                   (473)
    Other                                             (263)                    (6)
                                            --------------        ---------------
      Net cash provided by (used in)
        operating activities                        (2,063)                 3,177

Cash Flows from Investing Activities
  Increase in note receivable                            -                 (1,111)
                                            --------------        ---------------
      Net cash used in investing
        activities                                       -                 (1,111)

Cash Flows from Financing Activities
  Repurchase of common shares                          (18)                  (100)
  Dividend                                            (300)                  (300)
                                            --------------        ---------------
      Net cash used in financing
        activities                                    (318)                  (400)
                                            --------------        ---------------

Change in cash and cash equivalents                 (2,381)                 1,666

Cash and cash equivalents,
  beginning of period                                5,919                  2,721
                                            --------------        ---------------
Cash and cash equivalents, end of period    $        3,538        $         4,387
                                            ==============        ===============


</TABLE>


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


                                        8


<PAGE>


                             TRIMAINE HOLDINGS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2002
                                   (UNAUDITED)

NOTE  1.  BASIS  OF  PRESENTATION

The  interim period consolidated financial statements contained herein have been
prepared  by  the Registrant pursuant to the rules and regulations of the United
States  Securities  and  Exchange  Commission.  Certain information and footnote
disclosures  normally  included  in  financial statements prepared in accordance
with  accounting  principles  generally  accepted in the United States have been
condensed  or  omitted  pursuant  to  such rules and regulations.  These interim
period  statements  should  be  read  together  with  the  audited  consolidated
financial  statements and accompanying notes included in the Registrant's latest
annual report on Form 10-K for the year ended December 31, 2001.  In the opinion
of  the  Registrant,  the  unaudited consolidated financial statements contained
herein contain all adjustments necessary in order to present a fair statement of
the  results  for  the  interim  periods  presented.

NOTE  2.  EARNINGS  (LOSS)  PER  SHARE

Basic  earnings (loss) per share is computed by dividing income (loss) available
to  common  shareholders  by  the  weighted average number of shares outstanding
during  the  period.

The  weighted average number of shares outstanding was 15,303,435 and 15,718,615
for the nine month periods ended September 30, 2002 and 2001, respectively.  The
weighted  average number of shares outstanding was 15,285,822 and 15,509,389 for
the  three  months periods ended September 30, 2002 and 2001, respectively.  The
income  to  compute  the amount attributable to common shareholders includes the
recognition  of  preferred  stock  dividend  of  $225,000  in  the  nine  months
ended  September  30,  2002  and  $75,000  in  the  three months ended September
30,  2002.


                                        9


<PAGE>


                         PART I.  FINANCIAL INFORMATION
                                  ---------------------

ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL  CONDITION  AND
          RESULTS  OF  OPERATIONS

The following discussion and analysis of the results of operations and financial
condition  of TriMaine Holdings, Inc. (the "Corporation") for the nine and three
month  periods  ended  September 30, 2002 should be read in conjunction with the
consolidated  financial  statements and related notes included elsewhere in this
quarterly  report.

RESULTS  OF  OPERATIONS  -  NINE  MONTHS  ENDED  SEPTEMBER  30,  2002

Revenues  were $0.4 million for each of the nine months ended September 30, 2002
and  2001,  consisting  primarily  of  dividends  received on shares held by the
Corporation,  and  investment  and  interest  income.

Costs  and  expenses  for  the nine months ended September 30, 2002 decreased to
$0.2 million from $0.9 million in the comparative period of 2001, primarily as a
result  of  reduced  general  and  administrative  expenses due to a decrease in
consulting  services.  Interest  expense  was  $9,000 in each of the nine months
ended  September  30,  2002  and  2001.

Net  income  for the nine months ended September 30, 2002 was $0.1 million, or a
loss  of  $  0.01  per  common share, compared to a net loss of $0.4 million, or
$0.04  per  common  share,  for  the  nine  months  ended  September  30,  2001.

RESULTS  OF  OPERATIONS  -  THREE  MONTHS  ENDED  SEPTEMBER  30,  2002

Revenues increased to $75,000 for the three months ended September 30, 2002 from
$49,000  for  the  comparable period of 2001, consisting primarily of investment
and  interest  income.

Costs and expenses decreased to $0.1 million in the three months ended September
30,  2002  from  $0.3  million  in  the  three  months ended September 30, 2001,
primarily  as  a result of reduced general  and administrative expenses due to a
decrease  in consulting services.   Interest expense increased marginally in the
three  months  ended  September  30,  2002  from  the  same  period  of  2001.

Net loss for the three months ended September 30, 2002 was $14,000, or $0.01 per
common  share,  compared  to  $28,000,  or $0.01 per common share, for the three
months  ended  September  30,  2001.

LIQUIDITY  AND  CAPITAL  RESOURCES

The  Corporation  had cash and cash equivalents of $3.5 million at September 30,
2002,  compared  to  $5.9  million  at  December  31,  2001.

Operating  activities  used  cash  of  $2.1  million  in  the  nine months ended
September  30,  2002,  compared  to  providing  cash of $3.2 million in the nine
months  ended September 30, 2001.   A decrease in amounts due to affiliates used
cash of $1.0 million in the nine months ended September 30, 2002. An increase in
accounts receivable used cash of $0.7 million in the nine months ended


                                       10


<PAGE>


September  30,  2002,  compared  to  a  decrease  in same providing cash of $3.4
million  in the comparable  period in 2001.  An increase in real estate held for
development  and  sale  used  cash  of  $0.1  million in each of the nine months
ended  September  30, 2002 and 2001.  A decrease in accounts payable and accrued
liabilities used cash of $0.2  million  in  the  nine months ended September 30,
2002,  compared  to  an  increase in same providing cash of $7,000 in comparable
period  of  2001.  Changes  in other current assets and liabilities used cash of
$0.3 million  in  the current period,  compared  to  $6,000  in  the  comparable
period  of  2001.

Investing  activities  used no cash in the nine months ended September 30, 2002.
Investing  activities  used  cash  of  $1.1  million  in  the  nine months ended
September  30,  2001  as  a  result  of  an  increase  in  a  note  receivable.

Financing  activities  used  cash  of  $0.3  million  in  the  nine months ended
September 30, 2002, compared to  $0.4 million in the nine months ended September
30, 2001.  The Corporation paid $0.3 million in dividends on its preferred stock
in  the  nine  months  ended  September  30,  2002  and  2001,  respectively.

The  Corporation  has no commitments for capital expenditures in relation to its
undeveloped  real  estate,  although  it  may  need  to  provide  funds  for
pre-development  work on certain parcels in order to enhance their marketability
and  sale  value.

The  Corporation  believes that its assets should enable the Corporation to meet
its  current  ongoing  liquidity  requirements.

ITEM  3.     QUANTITATIVE  AND  QUALITATIVE  DISCLOSURES  ABOUT
             MARKET  RISK

Reference is made to the Corporation's annual report on Form 10-K for the fiscal
year  ended  December  31,  2001 for  information  concerning  market  risk.


ITEM  4.     DISCLOSURE  CONTROLS  AND  PROCEDURES

Within  90  days prior to the date of this report, we carried out an evaluation,
under  the  supervision  and  with  the participation of our principal executive
officer  and principal financial officer, of the effectiveness of the design and
operation  of our disclosure controls and procedures.  Based on this evaluation,
our  principal  executive officer and principal financial officer concluded that
our  disclosure  controls and procedures are effective in timely alerting him to
material  information required to be included in our periodic reports filed with
the  SEC.  It should be noted that the design of any system of controls is based
in  part  upon  certain  assumptions about the likelihood of certain events, and
there  can  be no assurance that any design will succeed in achieving its stated
goals  under  all  future conditions, regardless of how remote.  In addition, we
reviewed  our  internal  controls, and there have been no significant changes in
our  internal controls or in other factors that could significantly affect those
controls  subsequent  to  the  date  of  their  last  evaluation.


                                       11


<PAGE>
                           PART II.  OTHER INFORMATION
                                     -----------------

ITEM  1.  LEGAL  PROCEEDINGS

Reference is made to the Corporation's annual report on Form 10-K for the fiscal
year  ended  December  31,  2001  for  information concerning legal proceedings.


ITEM  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

The  Corporation  held  its annual meeting of shareholders on July 12, 2002.  At
the  meeting,  Michael  J.  Smith  was  elected  as  a  Class  I director of the
Corporation  for  a  term expiring at the annual meeting of shareholders in 2005
and  Young  Soo  Ko  was elected as a Class II director of the Corporation for a
term expiring at the annual meeting of shareholders in 2003.  The voting results
for  the  election  of  directors  were  as  follows:

<TABLE>
<CAPTION>

                                                             ABSTENTIONS AND
                       VOTES FOR      VOTES WITHHELD         BROKER NON-VOTES
                       ---------      --------------         ----------------
<S>                    <C>            <C>                    <C>
Michael J. Smith        9,346,030          15,477                 -
Young Soo Ko            9,346,030          15,477                 -


</TABLE>

Roy  Zanatta  continued  his  term  as  a  director  of  the  Corporation.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

          (a)     EXHIBITS

                  99.1  -   Certification  of  Periodic  Report

          (b)     REPORTS  ON  FORM  8-K

                  None


                                       12


                                   SIGNATURES

Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned,  thereunto  duly  authorized.


Dated:  November  13,  2002


                                   TRIMAINE  HOLDINGS,  INC.


                                   By:  /s/  Michael  J.  Smith
                                        -------------------------------
                                        Michael J. Smith, President and
                                        Chief Financial Officer


                                       13


<PAGE>


                        CERTIFICATION OF PERIODIC REPORT


I,  Michael  Smith,  President and Chief Financial Officer of TriMaine Holdings,
Inc.  (the "Registrant"), certify, pursuant to Section 302 of the Sarbanes-Oxley
Act  of  2002,  that:

1.     I  have reviewed this quarterly report on Form 10-Q of TriMaine Holdings,
       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 the Registrant  as  of,  and  for,  the  periods presented
       in this quarterly report;

4.     The  Registrant'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 the Registrant
       and  have:

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

      b)     evaluated  the  effectiveness  of  the  Registrant'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 Registrant's other certifying officers and I have disclosed, based on
       our  most  recent  evaluation, to the Registrant's auditors and the audit
       committee of the Registrant's  board  of directors (or persons performing
       the equivalent functions):

       a)     all  significant  deficiencies  in  the  design  or operation of
              internal controls  which could adversely affect the Registrant's
              ability  to  record, process,  summarize  and  report  financial
              data  and  have  identified  for the Registrant's  auditors  any
              material  weaknesses  in  internal  controls;  and

       b)     any  fraud,  whether  or  not material, that involves management
              or  other  employees  who  have  a  significant  role  in  the
              Registrant's internal controls; and

6.     The  Registrant's  other certifying officers and I have indicated in this
       quarterly  report  whether  there  were  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.

Date:     November  13,  2002
                                       /s/  Michael  J.  Smith
                                       -----------------------------------------
                                       Michael  J.  Smith
                                       President  and  Chief  Financial  Officer


                                       14


<PAGE>


                                  EXHIBIT 99.1


<PAGE>