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 JUNE 30, 2002


[ ]    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 principal executive offices)


                                (431) 240-25300
              (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 August 13, 2002
              -----                 ------------------------------

       Common Stock, $0.01                    15,293,697
           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 SIX MONTHS ENDED JUNE 30, 2002

                                  (UNAUDITED)


<PAGE>


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


<TABLE>
<CAPTION>


                                           JUNE 30, 2002     DECEMBER 31, 2001
                                           -------------     -----------------
<S>                                        <C>               <C>

                                     ASSETS

Current Assets
  Cash and cash equivalents                  $     4,440           $     5,919
  Accounts receivable                                905                     -
  Real estate held for development
    and sale                                       1,223                 1,149
  Other                                              437                   163
                                             -----------           -----------
      Total current assets                         7,005                 7,231

Securities                                        16,187                21,516
                                             -----------           -----------
                                             $    23,192           $    28,747
                                             ===========           ===========


                      LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
  Accounts payable                           $        90           $        173
  Accrued liabilities                                159                    166
  Advance from affiliates                          1,591                  1,591
                                             -----------           ------------
      Total current liabilities                    1,840                  1,930

  Deferred income tax liability                    1,798                  3,551
                                             -----------           ------------
                                                   3,638                  5,481

Shareholders' Equity
  Preferred stock                                      1                      1
  Common stock                                       153                    153
  Additional paid-in capital                      16,348                 16,358
  Deficit                                           (868)                  (683)
  Accumulated other comprehensive income           3,920                  7,437
                                             -----------           ------------
      Total equity                                19,554                 23,266
                                             -----------           ------------
                                             $    23,192           $     28,747
                                             ===========           ============


</TABLE>



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


<PAGE>


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


<TABLE>
<CAPTION>


                                             FOR THE SIX         FOR THE SIX
                                             MONTHS ENDED        MONTHS ENDED
                                             JUNE 30, 2002       JUNE 30, 2001
                                             -------------       -------------
<S>                                           <C>                <C>
Revenues
  Dividend and other                         $         281       $         374
                                             -------------       -------------
                                                       281                 374
                                             -------------       -------------

Costs and expenses
  General and administrative expenses                  103                 610
  Interest                                               4                   7
                                             -------------       -------------
                                                       107                 617
                                             -------------       -------------

Income (loss) before income tax                        174                (243)

Income tax expenses                                     59                 162
                                             -------------       -------------

Net income (loss)                                      115                (405)

Retained earnings (deficit),
  beginning of period                                 (683)                734
Dividends paid on preferred shares                    (300)               (300)
                                             -------------       -------------
Retained earnings (deficit),
  end of period                              $        (868)      $          29
                                             =============       =============

Basic and diluted loss per share             $       (0.00)      $       (0.04)
                                             =============       =============


</TABLE>


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


<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
                                             JUNE 30, 2002       JUNE 30, 2001
                                             -------------       -------------
<S>                                          <C>                 <C>
Revenues
  Dividend and other                         $          30       $          70
                                             -------------       -------------
                                                        30                  70
                                             -------------       -------------

Costs and expenses
  General and administrative expenses                   42                 493
  Interest                                               1                   2
                                             -------------       -------------
                                                        43                 495
                                             -------------       -------------

Loss before income tax                                 (13)               (425)

Income tax expenses (benefits)                         (38)                100
                                             -------------       -------------

Net income (loss)                                       25                (525)

Retained earnings (deficit),
  beginning of period                                 (893)                554
                                             -------------       -------------

Retained earnings (deficit),
  end of period                              $        (868)      $          29
                                             =============       =============

Basic and diluted loss per share             $       (0.00)      $       (0.04)
                                             =============       =============


</TABLE>



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


<PAGE>


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


<TABLE>
<CAPTION>


                                             FOR THE SIX         FOR THE SIX
                                             MONTHS ENDED        MONTHS ENDED
                                             JUNE 30, 2002       JUNE 30, 2001
                                             -------------       -------------
<S>                                          <C>                 <C>
Net Income (loss)                            $         115       $        (405)

Other comprehensive gain (loss):
  Unrealized gain (loss) on securities,
    net of taxes                                    (3,517)              3,473
                                             -------------       -------------

Total comprehensive income (loss)            $      (3,402)      $       3,068
                                             =============       =============


</TABLE>



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


<PAGE>


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


<TABLE>
<CAPTION>


                                             FOR THE THREE       FOR THE THREE
                                             MONTHS ENDED        MONTHS ENDED
                                             JUNE 30, 2002       JUNE 30, 2001
                                             -------------       -------------
<S>                                          <C>                 <C>
Net income (loss)                            $          25       $        (525)

Other comprehensive gain (loss):
  Unrealized gain (loss) on securities,
    net of taxes                                    (2,098)              3,558
                                             -------------       -------------

Total comprehensive income (loss)            $      (2,073)       $      3,033
                                             =============        ============


</TABLE>



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


<PAGE>



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



                                                    FOR THE SIX      FOR THE SIX
                                                    MONTHS ENDED     MONTHS ENDED
                                                    JUNE 30, 2002    JUNE 30, 2001
                                                    -------------    -------------
<S>                                                 <C>              <C>
Cash Flows from Operating Activities
    Net income (loss) from operation                $         115    $        (405)
    Adjustments to reconcile net income (loss) to
      net cash provided by (used in)
        operating activities:                                   -                -

Changes in current assets and liabilities:
    Accounts receivable                                      (905)           3,443
    Real estate held for development and sale                 (74)            (116)
    Receivable from affiliates                                  -              424
    Accounts payable and accrued liabilities                  (90)              33
    Income tax liabilities                                      -              633
    Deferred income tax liabilities                            59             (471)
    Other                                                    (274)             (13)
                                                    -------------    -------------
        Net cash provided by (used in)
            operating activities                           (1,169)           3,528

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

Cash Flows from Financing Activities
    Repurchases of common shares                              (10)             (14)
    Dividend                                                 (300)            (300)
                                                    -------------    -------------
        Net cash used in financing activities                (310)            (314)
                                                    -------------    -------------

Change in cash and cash equivalents                        (1,479)           2,103
Cash and cash equivalents,
  beginning of period                                       5,919            2,721
                                                    -------------    -------------
Cash and cash equivalents, end of period            $       4,440    $       4,824
                                                    =============    =============


</TABLE>



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


<PAGE>


                             TRIMAINE HOLDINGS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 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 U.S.
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 on the weighted average number of
shares  outstanding  during  the  period.  The weighted average number of shares
outstanding  were  15,312,388  for  the  six  months  ended  June  30,  2002 and
15,824,963  for  the  six  months  ended  June  30,  2001.


<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 six months
ended  June  30,  2002  should  be  read  in  conjunction  with the consolidated
financial  statements  and  related  notes  included  elsewhere  herein.

Results  of  Operations  -  Six  Months  Ended  June  30,  2002

Revenues  were  $0.3  million  for  the  six months ended June 30, 2002 and $0.4
million  for  the  six  months  ended  June  30,  2001,  consisting primarily of
dividends  received  on  shares held by the Corporation, investment and interest
income.

Costs  and  expenses  for  the six months ended June 30, 2002 were $0.1 million,
compared  to  $0.6  million in the comparative period of 2001.  Interest expense
decreased  to  $4,000  in  the six months ended June 30, 2002 from $7,000 in the
same  period  of  2001,  primarily  as a result of decreased indebtedness in the
current  period.

Net  income was $0.1 million in the six months ended June 30, 2002 compared to a
net  loss  of  $0.4  million  in  the  comparative  period  of  2001.

Results  of  Operations  -  Three  Months  Ended  June  30,  2002

Revenues  were  $30,000 for the three months ended June 30, 2002 and $70,000 for
the  three  months  ended  June 30, 2001, consisting primarily of investment and
interest  income.

Costs  and  expenses  for  the  three  months  ended June 30, 2002 were $43,000,
compared  to  $0.5  million in the comparative period of 2001.  Interest expense
decreased  to  $1,000 in the three months ended June 30, 2002 from $2,000 in the
same  period  of  2001,  primarily  as a result of decreased indebtedness in the
current  period.

Net income was $25,000 in the three months ended June 30, 2002 compared to a net
loss  of  $0.5  million  in  the  comparative  period  of  2001.

Liquidity  and  Capital  Resources

The  Corporation  had  cash  of  $4.4  million at June 30, 2002 compared to $5.9
million  at  December  31,  2001.

Operating  activities used cash of $1.2 million in the six months ended June 30,
2002,  compared  to  providing cash of $3.5 million in the six months ended June
30,  2001.  There was an increase in accounts receivable which used cash of $0.9
million  in  the  six  months  ended  June  30,  2002, compared to a decrease in
accounts  receivable providing cash of $3.4 million in the six months


<PAGE>


ended June 30,  2001.  There were no receivables from affiliates activity in the
six months ended  June  30, 2002, compared to a decrease of the  same  providing
cash of $0.4 million  in  the  same  period  of  2001.

Investing  activities  used  no  cash  in  the  six  months ended June 30, 2002,
compared  to  $1.1 million used in the six months ended June 30, 2001, primarily
as  a  result  of  an  increase  in  a  note  receivable.

Financing  activities used cash of $0.3 million in the six months ended June 30,
2002  and  2001, respectively, primarily as a result of the payment of dividends
on  its  preferred  stock.

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.

                           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  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)     EXHIBITS

        99 - Certification  of  Periodic  Report

(b)     REPORTS  ON  FORM  8-K

        Form  8-K  dated  July  25,  2002
           Item  5.  Other  Events


<PAGE>


                                   SIGNATURES

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

Dated:  August  13,  2002

                                   TRIMAINE  HOLDINGS,  INC.


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