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

                                    FORM 10-K

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

                   For the fiscal year ended December 31, 2001

[     ]     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.)

                        17 DAME STREET, DUBLIN 2, IRELAND
                    (Address of principal executive offices)

      REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:  (3531) 679-1688

        SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:  NONE
           SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:

                          COMMON STOCK, $0.01 PAR VALUE
                                (Title of Class)

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  by  check mark if disclosure of delinquent filers pursuant to Item 405
of  Regulation  S-K  is  not contained herein, and will not be contained, to the
best  of  the  Registrant's  knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in  Part  III  of this Form 10-K or any
amendment  to  this  Form  10-K.  [ X ]

The  aggregate  market  value  of the voting stock held by non-affiliates of the
Registrant was approximately $769,751 as of March 26, 2002, computed on the
basis of the  closing  price  on  such  date.

As  of  March  26, 2002, there were 15,322,697 shares of the Registrant's Common
Stock  outstanding.

                      DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Registrant's 2001 Proxy Statement to be filed within 120 days of
the  period ended December 31, 2001 are incorporated by reference into Part III.


<PAGE>


FORWARD-LOOKING  STATEMENTS

Statements  in  this  report,  to  the  extent  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, 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.


                                        2


<PAGE>


                                TABLE OF CONTENTS
                                -----------------
                                                                    PAGE
                                                                    ----
                                     PART I
                                     ------


ITEM  1.     BUSINESS                                                4

ITEM  2.     PROPERTIES                                              5

ITEM  3.     LEGAL  PROCEEDINGS                                      6

ITEM  4.     SUBMISSION  OF  MATTERS  TO  A  VOTE
               OF  SECURITY  HOLDERS                                 6

                                     PART II
                                     -------

ITEM  5.     MARKET FOR REGISTRANT'S COMMON EQUITY
               AND  RELATED STOCKHOLDER  MATTERS                     6

ITEM  6.     SELECTED  FINANCIAL  DATA                               7

ITEM  7.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS
               OF  FINANCIAL CONDITION  AND  RESULTS
               OF  OPERATIONS                                        8

ITEM  7A.    QUANTITATIVE  AND  QUALITATIVE DISCLOSURES
               ABOUT MARKET  RISK                                    9

ITEM  8.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA            11

ITEM  9.     CHANGES  IN  AND  DISAGREEMENTS  WITH
               ACCOUNTANTS  ON  ACCOUNTING  AND
               FINANCIAL  DISCLOSURE                                11

                                    PART III
                                    --------

ITEM  10.    DIRECTORS  AND  EXECUTIVE  OFFICERS
               OF  THE  REGISTRANT                                  12

ITEM  11.    EXECUTIVE  COMPENSATION                                12

ITEM  12.    SECURITY  OWNERSHIP  OF  CERTAIN
               BENEFICIAL  OWNERS AND  MANAGEMENT                   12

ITEM  13.    CERTAIN  RELATIONSHIPS  AND  RELATED
               TRANSACTIONS                                         12

                                    PART IV
                                    -------

ITEM  14.    EXHIBITS,  FINANCIAL  STATEMENT  SCHEDULES,
               AND  REPORTS ON  FORM  8-K                           12

SIGNATURES                                                          25


                                        3


<PAGE>


                                     PART I
                                     ------

ITEM  1.     BUSINESS

The Corporation
---------------

TriMaine Holdings, Inc. was incorporated in the State of Washington on September
15,  1993  and  commenced operations in April 1994. In this document, unless the
context  otherwise  requires,  the  "Corporation",  the  "Company" or "TriMaine"
refers  to  TriMaine  Holdings,  Inc. and its subsidiaries. The Corporation is a
subsidiary  of  MFC  Bancorp Ltd. ("MFC"), which owns approximately 82.6% of the
Corporation's  shares of common stock.  A subsidiary of MFC also owns $6 million
of  preferred  shares  in  the  capital  stock  of  the  Corporation.

Business of the Corporation
---------------------------

The  Corporation  operates  in  the  financial  services  industry.  As  part of
the financial services industry, the Corporation  has certain real estate assets
which  are  held  for  sale.  All  of  the  Corporation's real estate assets are
located  in  the  Puget Sound region of the State of Washington, are undeveloped
and  a substantial portion are in a pre-development state.  TriMaine intends, as
opportunities  arise,  to  monetize  its  real  estate  assets  to  finance  the
acquisition  of  interests  in  operating businesses.  TriMaine may also acquire
additional  real  estate  assets.  TriMaine  intends  to  develop  some  of  its
undeveloped  real estate properties, and in certain instances may participate in
development  joint  venture  arrangements  as  an  interim  step  in the sale or
monetization  of  a  property,  and  will  continue  pre-development work on the
properties  to  the  extent  necessary  to  protect  or  enhance  their  value.

The  development  of  real  property  in  the  State of Washington is subject to
multiple  layers  of  government  regulation,  including  state  law and certain
ordinances  of  the  city  and  county  wherein  the  property  is  located.
Environmental  regulations at the federal, state and local levels with regard to
wetlands,  stormwater  retention  and  discharge,  wildlife,  tree preservation,
slopes  and groundwater recharge have greatly increased the cost and uncertainty
related  to  the  development  of  property  in the State of Washington and have
lengthened  the  time  necessary  to  receive development permits. Consequently,
fewer  developers  are  buying  property  in  the  State of Washington and these
developers  tend  to wait until the permitting process is near completion before
committing  to  a  purchase.

The  type  and  intensity  of  development  of  real  property  in  the State of
Washington  is  subject  to the comprehensive plan and zoning designation of the
property  within  the city or county in which the property is located.  Property
development  is  also  affected by sensitive areas, such as wetlands, streams or
wildlife  habitat,  located on the site.  Both the local government and the Army
Corps  of  Engineers  have  jurisdiction  over wetland areas. Upon delivery of a
development  proposal,  the  appropriate government agency will examine the site
and  delineate  wetland areas.  These areas must either be left undisturbed with
sufficient  buffers for protection or a mitigation plan for the designated areas
must  be  approved.  Due  to  the broad definition of wetlands, it is common for
undeveloped  property  in  the  western  Washington  area  to have some wetlands
designated.  The  majority of the Corporation's properties have had some wetland
areas  designated.


                                        4


<PAGE>


In  1990,  the  Washington  State  legislature  passed the Growth Management Act
("GMA")  to  "guide  the  development  and  adoption  of comprehensive plans and
development  regulations"  in  Washington  State.  The goal of the comprehensive
development  plans  is to, among other things, reduce the development density in
rural  areas,  encourage  affordable housing and a variety of housing densities,
maintain  and  conserve  natural  resource  industries and lands and protect and
enhance  the  environment  and  the  availability  of  water.

Under  the  GMA,  the counties in which the Corporation's properties are located
have  a  several  year  period in which to develop county-wide growth plans that
will designate those areas in which growth will be accommodated over the next 20
years.  As  a result of the uncertainty which has arisen from the formulation of
these  growth  plans,  the  permitting  process  relating  to the development of
property  in these counties has been delayed.  It is believed, however, that all
of  the  Corporation's  properties  are located in areas where additional growth
will  be  permitted.

The Corporation intends to use the proceeds from the sale or monetization of its
real  estate  assets  to  acquire  controlling  equity  interests  in  operating
businesses.  In  addition,  the Corporation may seek to exchange its real estate
assets  for  equity  interests in certain other companies.  The Corporation will
seek  to  acquire interests in those companies that it believes its expertise in
financial restructuring and asset management will add value to the Corporation's
investment.  In  order  to  accomplish  such  acquisitions,  the Corporation may
engage  in  joint  ventures  with  affiliated  companies.

In  December  1998, the Corporation transferred its 50.9% interest in the shares
of  common  stock  of  Mymetics  Corporation  (formerly  Ichor  Corporation)
("Mymetics")  to  a  wholly-owned  subsidiary  of  MFC.

At December 31, 2000, the Corporation had no full-time employees.  The executive
officers  of the Corporation devote such time to the business of the Corporation
as  is  required.

ITEM  2.     PROPERTIES

The Corporation has an office in Dublin, Ireland.

The  Corporation's  undeveloped  real estate properties are located in the Puget
Sound  region  of  Washington  State  and  consist  of  six  parcels  totalling
approximately  65  acres  which  are zoned for various commercial uses including
retail,  office  and  business  park, and two parcels totalling approximately 32
acres  which  are  zoned for medium to high residential use.  The Corporation is
seeking  to sell these parcels and does not intend to fully develop the majority
of  them  prior  to  sale. The Corporation typically engages in such preliminary
development  work  as is necessary to maximize the value of the parcels prior to
their  sale.

Gig Harbor Property
-------------------

The  Corporation  owns approximately 47 acres of undeveloped real property which
was,  in  early  1997,  annexed  to the City of Gig Harbor, Washington, which is
located at the west end of the Tacoma Narrows Bridge in Tacoma, Washington.  The
annexation provides for much higher intensity development than was allowed under
its  previous  jurisdiction  (Pierce  County)  and opens the way for a new major
thoroughfare  to be built through the middle of the property that connects


                                        5


<PAGE>


State Highway  16 and the north entrance of Gig Harbor.  Of the total  acreage,
29 acres are zoned  for medium density (eight units per acre)  residential  use
and  18  acres  are  zoned  for  business  park/professional  office  use.  The
Corporation  may develop  all  or  a  portion of the land through partnerships,
joint  ventures  or  other  economic  associations  with  local developers. The
Corporation's current involvement is limited to pre-development work, including
infrastructure (roads, sewer and water services), preliminary  permits,  market
studies, feasibility studies  and  related  activities.

All  utilities  are  available  to  the  property.  The  City  of Gig Harbor has
completed  work on an extension of a street through the property, which provides
access  to  the  site  from  the  City  of  Gig  Harbor  and  State  Highway 16.

ITEM  3.     LEGAL  PROCEEDINGS

The Corporation is subject to routine litigation incidental to its business from
time  to  time.  The  Corporation  does  not  believe  that  the outcome of such
litigation  will  have  a  material  adverse effect on its business or financial
condition.

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

Not  applicable.


                                     PART II
                                     -------

ITEM  5.     MARKET  FOR  REGISTRANT'S  COMMON  EQUITY  AND  RELATED
             STOCKHOLDER  MATTERS

(a)  Market  Information.  The  Corporation's common stock is quoted on the NASD
OTC  Bulletin Board under the symbol "TRMH".  The following table sets forth the
quarterly  high  and low sales price per share of the Corporation's common stock
for  the  periods  indicated:


<TABLE>
<CAPTION>


Fiscal Quarter Ended          High             Low
--------------------          ----             ---
<S>                           <C>              <C>
2000
March 31                   $  0.53          $  0.06
June 30                       0.34             0.13
September 30                  0.16             0.13
December 31                   0.13             0.13

2001
March 31                   $  0.06          $  0.06
June 30                       0.15             0.07
September 30                  0.33             0.15
December 31                   0.32             0.20


</TABLE>


(b)  Shareholders.  At  March 26, 2002,  the Corporation had approximately 1,600
holders  of  record  of  its  common  stock.


                                        6


<PAGE>


(c)  Dividends.  The  Corporation has not paid any dividends on its common stock
and  does  not  anticipate  that  it  will  pay any dividends in the foreseeable
future.

ITEM  6.     SELECTED  FINANCIAL  DATA

The  following  table  reflects  selected  consolidated  financial  data for the
Corporation  for  each  of  its  last five fiscal years.  Effective December 31,
1998,  the  Corporation  transferred  its  holdings of shares of common stock of
Mymetics.  Mymetics'  results  of operations for the fiscal years ended December
31,  1998  and 1997, respectively, and its assets and liabilities as at December
31,  1997,  are included in the financial data presented below.  The Corporation
commenced  operations  in  April  1994.


<TABLE>
<CAPTION>

                                   FOR THE YEAR ENDED DECEMBER 31
                      --------------------------------------------------------
                        2001        2000        1999        1998        1997
                      --------    --------    --------    --------    --------
                            (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<S>                   <C>         <C>         <C>          <C>        <C>
OPERATING DATA
Sales of real
  estate              $      -    $  8,329    $    225    $  1,016    $  3,250
Other income          $    273    $    575    $    361    $    625    $    252
General and
  administrative
  expenses            $  1,951    $    476    $    409    $  1,152    $  1,166
Interest expense      $     16    $    167    $    861    $    360    $    949
Income (loss) from
  continuing
  operations          $ (1,117)   $  1,742    $  4,822    $    466    $    411
Net income (loss)     $ (1,117)   $  1,742    $  4,822    $    466    $ (2,618)

COMMON SHARE DATA(1)
Income (loss) from
  continuing
  operations per
  common share        $  (0.09)   $   0.09    $   0.42    $   0.02    $   0.01
Net income (loss)
  per common share    $  (0.09)   $   0.09    $   0.42    $   0.02    $  (0.27)
Weighted average
  common shares
  outstanding
  (in thousands)        15,627      15,838      10,893      10,838      10,838

BALANCE SHEET DATA
Working capital       $  5,301    $  7,095    $  4,080    $ (2,287)   $  3,774
Total assets          $ 28,747    $ 17,671    $ 17,843    $ 16,083    $ 15,760
Long-term
  obligations                -    $      -    $      -    $      -    $    646
Total shareholders'
  equity              $ 23,266    $ 17,223    $ 14,885    $  8,705    $  9,392

<FN>
</TABLE>
---------------
(1)  Basic  and  diluted  common  share  data  is  the  same.


                                        7


<PAGE>


ITEM  7.     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  the  Corporation  for the years ended December 31, 2001, 2000 and
1999, respectively, should be read in conjunction with the Corporation's audited
consolidated  financial  statements and related notes included elsewhere herein.
Certain  reclassifications  have  been  made  to  the  prior  periods' financial
statements  to  conform  to  the  current  period's  presentation.

Results  of Operations for the Year Ended December 31, 2001 Compared to the Year
--------------------------------------------------------------------------------
Ended  December  31,  2000
--------------------------

Revenues  for  the  year  ended December 31, 2001 were $0.3 million, compared to
$8.9  million  for the year ended December 31, 2000.  In the year ended December
31,  2001, the Corporation did not sell any real estate, compared to real estate
sales  by  $8.3  million  in the comparative period of 2000.  Dividend and other
income  provided  cash  of  $0.3  million  in  the year ended December 31, 2001,
compared  to  $0.6  million  in  the  year  ended  December  31,  2000.

Costs  and  expenses  for  the  year  ended December 31, 2001 were $2.0 million,
compared  to $6.3 million for the year ended December 31, 2000.  The Corporation
had  no  costs related to real estate sales in the year ended December 31, 2001,
compared  to  $3.6  million  in  costs  related  to  real  estate  sales  in the
comparative  period  of 2000.  General and administrative expenses increased  to
$2.0 million in the year ended December 31, 2001 from $0.5 million in  the  year
ended  December 31, 2000, primarily as a  result  of  an  increase  in  services
related  to  the  evaluation of assets and business opportunities in the current
year. Interest expense decreased to $16,000 in the year ended  December 31, 2001
from $0.2 million  in  the  same  period  of  2000,  primarily as  a  result  of
decreased  indebtedness.

The  Corporation  had  a net loss of $1.1 million, or $0.09 per common share, in
the  year  ended  December  31,  2001.  In the year ended December 31, 2000, the
Corporation  had  net  income  of  $1.7  million,  or  $0.09  per  common share.

Results  of Operations for the Year Ended December 31, 2000 Compared to the Year
--------------------------------------------------------------------------------
Ended  December  31,  1999
--------------------------

Revenues  for  the  year  ended December 31, 2000 were $8.9 million, compared to
$0.6  million  for the year ended December 31, 1999.  In the year ended December
31,  2000,  the  Corporation sold real estate for $8.3 million, compared to $0.2
million  in  the  comparative  period  of  1999.

Costs  and  expenses  for  the  year  ended December 31, 2000 were $6.3 million,
compared to $1.4 million for the year ended December 31, 1999.  The cost of real
estate  sold  and  related  selling  costs increased to $3.6 million in the year
ended  December  31,  2000  from $0.1 million in the comparative period of 1999,
primarily  as  a  result  of  an  increase in the sale of real estate.  Interest
expense  decreased to $0.2 million in the year ended December 31, 2000 from $0.9
million  in  the  same  period  of  1999,  primarily  as  a  result of decreased
indebtedness.  General  and  administrative expenses


                                        8


<PAGE>


increased  marginally in the year  ended  December  31,  2000,  compared to  the
year ended December 31, 1999.

The  Corporation  had  net income of $1.7 million, or $0.09 per common share, in
the  year  ended  December  31,  2000.  In the year ended December 31, 1999, the
Corporation  had  net  income  of  $4.8  million,  or  $0.42  per  common share.

Liquidity  and  Capital  Resources
----------------------------------

The  Corporation had cash of $5.9 million at December 31, 2001, compared to $2.7
million  at  December  31,  2000.

Net  cash  provided  by  operating activities was $3.6 million in the year ended
December 31, 2001, compared to $3.5 million in the year ended December 31, 2000.
Borrowings  from  a  subsidiary of MFC provided cash of $2.0 million in the year
ended  December 31, 2001, compared to $44,000 in the comparative period of 2000.
A  decrease  in  accounts  receivable  provided cash of $3.5 million in the year
ended  December  31,  2001, compared to an increase in accounts receivable using
cash  of $3.5 million in the same period of 2000.  A net increase in real estate
held  for  development  and  sale  used  cash  of $0.3 million in the year ended
December 31, 2001, compared to net sales of real estate held for development and
sale  providing  cash  of  $2.9  million  in  the  year ended December 31, 2000.

Net  proceeds  from  investing activities was nil in the year ended December 31,
2001.  Proceeds  from  the  sale of investments provided cash of $3.6 million in
the  year  ended  December  31, 2000. Purchases of investments used cash of $4.1
million  in  the  year  ended  December  31,  2000.

Financing  activities  used  cash of $0.4 million in the year ended December 31,
2001,  compared  to  $2.4  million in the year ended December 31, 2000.  A share
repurchase  used  cash  of  $0.1  million  in  the year ended December 31, 2001.
Payment  of  debt used cash of $2.1 million in the year ended December 31, 2000.
The  Corporation  paid  $0.3  million in dividends on its preferred stock in the
years  ended  December  31,  2001  and  2000,  respectively.

The  Corporation  has no commitments for capital expenditures in relation to its
undeveloped  real  estate,  although  it  is  required  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  7A.     QUANTITATIVE  AND  QUALITATIVE  DISCLOSURES  ABOUT  MARKET  RISK

The  Corporation  is  exposed  to  market  risks from changes in interest rates,
foreign  currency  exchange rates and equity prices which may affect its results
of  operations  and  financial  condition.  The  Corporation does not enter into
derivative  contracts  for  its  own  account  to  hedge  against  these  risks.


                                        9


<PAGE>


Interest  Rate  Risk
--------------------

Fluctuations  in  interest  rates  may  affect  the  fair  value  of  financial
instruments  sensitive  to  interest  rates.  An  increase in interest rates may
decrease  the  fair  value  of financial instrument assets and increase the fair
value  of  financial  instrument  liabilities.  A decrease in interest rates may
increase  the  fair  value  of financial instrument assets and decrease the fair
value  of  financial  instrument  liabilities.  The  Corporation's  financial
instruments which may be sensitive to interest rate fluctuations are investments
and  debt  obligations.  The  following  tables  provide  information  about the
Corporation's  exposure to interest rate fluctuations for the carrying amount of
financial  instruments that may be sensitive to such fluctuations as at December
31, 2001 and 2000, respectively, and expected cash flows from these instruments.


                            AS AT DECEMBER 31, 2001
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>

                                           EXPECTED FUTURE CASH FLOW
             CARRYING   FAIR    ------------------------------------------------
             VALUE      VALUE   2002    2003   2004    2005   2006    THEREAFTER
             --------   -----   ----    ----   ----    ----   ----    ----------
<S>         <C>         <C>     <C>     <C>    <C>     <C>    <C>     <C>
Investments  $0         $0      $0      $0     $0      $0     $0      $0

</TABLE>


                            AS AT DECEMBER 31, 2000
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>

                                             EXPECTED FUTURE CASH FLOW
                CARRYING   FAIR    ---------------------------------------------
                VALUE      VALUE   2001   2002   2003   2004   2005   THEREAFTER
                --------   ------  ----   ----   ----   ----   ----   ----------
<S>             <C>        <C>     <C>    <C>    <C>    <C>    <C>    <C>
Investments(1)  $6,200     $6,200  $0     $0     $0     $0     $0     $6,200

<FN>
</TABLE>
---------------
(1)  Investments  consist  of  equity  securities.


Foreign  Currency  Exchange  Rate  Risk
---------------------------------------

The  reporting  currency of the Corporation is the U.S. dollar.  The Corporation
holds  certain  financial  instruments  denominated  in  Canadian  dollars.  A
depreciation  of  the  Canadian dollar against the U.S. dollar will decrease the
fair  value  of  financial  instrument  assets.  An appreciation of the Canadian
dollar  against  the  U.S.  dollar  will  increase  the  fair value of financial
instrument  assets.  The  Corporation's  financial  instruments  which  may  be
sensitive  to  foreign  currency exchange rate fluctuations are investments. The
following tables provide information about the Corporation's exposure to foreign
currency  exchange  rate  fluctuations  for  the  carrying  amount  of financial
instruments  that  may be sensitive to such fluctuations as at December 31, 2001
and  2000,  respectively,  and  expected  cash  flows  from  these  instruments.


                            AS AT DECEMBER 31, 2001
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>

                                             EXPECTED FUTURE CASH FLOW
                CARRYING   FAIR    ---------------------------------------------
                VALUE      VALUE   2002   2003   2004   2005   2006   THEREAFTER
                --------   -----   ----   ----   ----   ----   ----   ----------
<S>             <C>         <C>    <C>    <C>    <C>    <C>    <C>    <C>
Investments(1)  $11        $11     $0     $0     $0     $0     $0     $11

<FN>
</TABLE>
---------------
(1)  Investments  consist  of  equity  securities,  which  are  primarily
     denominated  in  Canadian  dollars.


                                       10


<PAGE>


                            AS AT DECEMBER 31, 2000
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>

                                             EXPECTED FUTURE CASH FLOW
                CARRYING   FAIR    ---------------------------------------------
                VALUE      VALUE   2001   2002   2003   2004   2005   THEREAFTER
                --------   ------  ----   ----   ----   ----   ----   ----------
<S>             <C>        <C>     <C>    <C>    <C>    <C>    <C>    <C>
Investments(1)  $6,222     $6,222  $0     $0     $0     $0     $0     $6,222

<FN>
</TABLE>
--------------
(1)  Investments  consist  of  equity  securities,  which  are  primarily
     denominated  in  Canadian  dollars.


Equity  Price  Risk
-------------------

Changes  in  trading  prices  of  equity securities may affect the fair value of
equity  securities or the fair value of other securities convertible into equity
securities.  An  increase  in  trading prices will increase the fair value and a
decrease  in trading prices will decrease the fair value of equity securities or
instruments  convertible  into  equity  securities.  The Corporation's financial
instruments  which  may  be  sensitive  to  fluctuations  in  equity  prices are
investments.  The  following  tables provide information about the Corporation's
exposure  to  fluctuations in equity prices for the carrying amount of financial
instruments  sensitive  to  such  fluctuations as at December 31, 2001 and 2000,
respectively,  and  expected  cash  flows  from  these  instruments.

                             AS AT DECEMBER 31, 2001
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>

                                             EXPECTED FUTURE CASH FLOW
                CARRYING   FAIR      ----------------------------------------
                VALUE      VALUE     2002  2003  2004  2005  2006  THEREAFTER
                --------   -------   ----  ----  ----  ----  ----  ----------
<S>             <C>        <C>       <C>   <C>   <C>   <C>   <C>   <C>
Investments(1)  $21,516    $21,516   $0    $0    $0    $0    $0    $21,516

<FN>
</TABLE>
---------------
(1)  Investments  consist  of  equity  securities.


                             AS AT DECEMBER 31, 2000
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>

                                           EXPECTED FUTURE CASH FLOW
                CARRYING   FAIR     ----------------------------------------
                VALUE      VALUE    2001  2002  2003  2004  2005  THEREAFTER
                --------   -------  ----  ----  ----  ----  ----  ----------
<S>             <C>         <C>     <C>   <C>   <C>   <C>   <C>   <C>
Investments(1)  $10,128    $10,128  $0    $0    $0    $0    $0    $10,128


<FN>
</TABLE>
------------
(1)  Investments  consist  of  equity  securities.

ITEM  8.     FINANCIAL  STATEMENTS  AND  SUPPLEMENTARY  DATA

The  consolidated  financial  statements  and  supplementary  data required with
respect  to this Item 8, and as identified in Item 14 of this annual report, are
included  in  this  annual  report  commencing  on  page  14.


ITEM  9.     CHANGES  IN  AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON
             ACCOUNTING  AND  FINANCIAL  DISCLOSURE

Not  applicable.


                                       11


<PAGE>


                                    PART III
                                    ---------

ITEM  10.     DIRECTORS  AND  EXECUTIVE  OFFICERS  OF  THE  REGISTRANT

Incorporated  by  reference from the Corporation's definitive proxy statement to
be  filed  within  120  days  of  the  end  of  the  Corporation's  fiscal year.

ITEM  11.     EXECUTIVE  COMPENSATION

Incorporated  by  reference from the Corporation's definitive proxy statement to
be  filed  within  120  days  of  the  end  of  the  Corporation's  fiscal year.

ITEM  12.     SECURITY  OWNERSHIP  OF  CERTAIN  BENEFICIAL OWNERS AND MANAGEMENT

Incorporated  by  reference from the Corporation's definitive proxy statement to
be  filed  within  120  days  of  the  end  of  the  Corporation's  fiscal year.

ITEM  13.     CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS

Incorporated  by  reference from the Corporation's definitive proxy statement to
be  filed  within  120  days  of  the  end  of  the  Corporation's  fiscal year.


                                       12


<PAGE>


                                     PART IV
                                     -------

ITEM  14.     EXHIBITS,  FINANCIAL  STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

(a)           (1)     Index  to  Financial  Statements
                      --------------------------------
              Independent  Auditors'  Report
              Consolidated  Balance  Sheets
              Consolidated  Statements  of  Operations
              Consolidated  Statements  of  Comprehensive  Income
              Consolidated  Statements  of  Changes  in  Shareholders'  Equity
              Consolidated  Statements  of  Cash  Flows
              Notes  to  Financial  Statements

              (2)     List  of  Exhibits
                      ------------------

              3.1     Articles  of  Incorporation.(1)

              3.2     Amendment  to  Articles  of  Incorporation  dated
                      November  5, 1993.(1)

              3.3     Amendment  to  Articles  of  Incorporation  dated
                      April  22,  1994.(1)

              3.4     Amendment  to  Articles  of  Incorporation  dated
                      April  14,  1995.(1)

              3.5     Amendment  to  Articles  of  Incorporation  dated
                      July  10,  1996. Incorporated  by  reference  to
                      the Corporation's Form 8-K dated June 27, 1996.

              3.6     Amendment  to  Articles  of  Incorporation  dated
                      March  23,  2000.  Incorporated  by  reference  to the
                      Corporation's Form 8-K dated March 29, 2000.

              3.7     Bylaws.(1)

              10.1    Debt Settlement Agreement between the Corporation and
                     ICHOR Corporation dated  September  30,  1997.(2)

              10.2    Debt Settlement Agreement between the Corporation and
                     ICHOR Corporation dated  February  20,  1998.(2)

              10.3    Purchase  Agreement  between the Corporation and
                     MFC Merchant Bank S.A.  dated  January  4,  1999.
                     Incorporated by reference to the Schedule 13D/A with
                     Respect to  shares  of  Ichor  dated  January 4, 1999.

              21      List  of  subsidiaries  of  the  Registrant.
              ---------------
              (1)  Incorporated  by reference to the Corporation's
                   Registration Statement on  Form  10-SB.
              (2)  Incorporated  by  reference to the Schedule 13D/A
                   with respect to shares of Ichor  dated  March 13, 1998.

(b)          Reports  on  Form  8-k
             ----------------------
             None.


                                       13


<PAGE>



PETERSON  SULLIVAN  P.L.L.C.
601  Union  Street  Suite  2300  Seattle  WA  98101  (206) 382-7777 fax 382-7700
                                             Certified  Public  Accountants





                          INDEPENDENT AUDITORS' REPORT
                          ----------------------------



To  the  Board  of  Directors  and  Shareholders
Trimaine  Holdings,  Inc.  and  Subsidiaries



We  have  audited  the  accompanying  consolidated  balance  sheets  of Trimaine
Holdings,  Inc.  and  Subsidiaries  as  of  December  31, 2001 and 2000, and the
related statements of operations, comprehensive income, changes in shareholders'
equity,  and  cash  flows  for the years ended December 31, 2001, 2000 and 1999.
These  financial  statements are the responsibility of the Company's management.
Our  responsibility is to express an opinion on these financial statements based
on  our  audits.

We conducted our audits in accordance with auditing standards generally accepted
in  the  United  States.  Those  standards  require that we plan and perform the
audit  to obtain reasonable assurance about whether the financial statements are
free  from material misstatement.  An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.  An
audit  also  includes  assessing  the accounting principles used and significant
estimates  made  by  management,  as  well  as  evaluating the overall financial
statement  presentation.  We  believe that our audits provide a reasonable basis
for  our  opinion.

In  our opinion, the consolidated financial statements referred to above present
fairly,  in  all material respects, the financial position of Trimaine Holdings,
Inc. and Subsidiaries as of December 31, 2001 and 2000, and the results of their
operations  and their cash flows for the years ended December 31, 2001, 2000 and
1999,  in conformity with accounting principles generally accepted in the United
States.


/s/ Peterson  Sullivan  P.L.L.C.
February  25,  2002
Seattle,  Washington


                                       14


<PAGE>


                    TRIMAINE HOLDINGS, INC. AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS
                           December 31, 2001 and 2000
                            (In Thousands of Dollars)


<TABLE>
<CAPTION>


      ASSETS                                     2001          2000
                                               -------      -------
<S>                                            <C>            <C>
Current Assets
  Cash                                         $ 5,919       $ 2,721
  Account receivable                                 -         3,481
  Receivables from affiliates                        -           445
  Real estate held for development
    and sale                                     1,149           896
  Other                                            163             -
                                               -------       -------
        Total current assets                     7,231         7,543

Investments                                     21,516        10,128
                                               -------       -------
                                               $28,747       $17,671
                                               =======       =======

      LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
  Accounts payable                             $   173       $   100
  Accrued liabilities                              166           123
  Advance from affiliate                         1,591             -
  Deferred income tax liability                      -           225
                                               -------       -------
        Total current liabilities                1,930           448

Deferred Income Tax Liability                    3,551             -
                                               -------       -------

                                                 5,481           448

Shareholders' Equity
  Preferred stock, Series B,
   $.01 par value, 100,000
     shares authorized, 60,000
      issued and outstanding  at
       December 31, 2001 and 2000                    1             1
  Common stock, $.01 par value,
   100,000,000 shares
    authorized, 15,322,697 and
     15,837,808 issued and
      outstanding at December 31, 2001
       and 2000                                    153           158
  Additional paid-in capital                    16,358        16,468
  Retained earnings (deficit)                     (683)          734
  Accumulated other comprehensive
   income (loss)                                 7,437          (138)
                                               -------       -------
                                                23,266        17,223
                                               -------       -------
                                               $28,747       $17,671
                                               =======       =======


</TABLE>


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


                                       15


<PAGE>


                    TRIMAINE HOLDINGS, INC. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS
              For the Years Ended December 31, 2001, 2000 and 1999
              (In Thousands of Dollars, Except Earnings Per Share)


<TABLE>
<CAPTION>


                                           2001          2000          1999
                                         --------      --------      --------
<S>                                      <C>           <C>           <C>
Revenue
  Sales of real estate                   $      -      $  8,329      $    225
  Dividend and other                          273           575           361
                                         --------      --------      --------
                                              273         8,904           586

Costs and expenses
  Cost of real estate sold and
   related selling costs                        -         3,631            95
  Loss on sale of investments                   -         1,991             -
  General and administrative                1,951           476           409
  Interest                                     16           167           861
                                         --------      --------      --------
                                            1,967         6,265         1,365
                                         --------      --------      --------
                                           (1,694)        2,639          (779)

Other income, gain on disposals
 of former subsidiaries
  (from related party $4,565 in 1999)           -             -         5,040
                                         --------      --------      --------
(Loss) income before income tax benefit
 (provision)                               (1,694)        2,639         4,261
`
Deferred income tax benefit (provision)       577          (897)          561
                                         --------      --------      --------
        Net (loss) income                $ (1,117)     $  1,742      $  4,822
                                         ========      ========      ========

Basic (loss) earnings per common
 share                                   $   (.09)     $    .09      $    .42
                                         ========      ========      ========


</TABLE>


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


                                       16


<PAGE>


                    TRIMAINE HOLDINGS, INC. AND SUBSIDIARIES

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
              For the Years Ended December 31, 2001, 2000 and 1999
                            (In Thousands of Dollars)


<TABLE>
<CAPTION>


                                   2001         2000         1999
                                 --------     --------     --------
<S>                              <C>          <C>          <C>
Net (loss) income                $ (1,117)    $  1,742     $  4,822

Other comprehensive income
  (loss), net of tax
    Unrealized holding gains
      (losses) on securities
        arising during
          the period                7,575          896         (187)
                                 --------     --------     --------

Comprehensive income             $  6,458     $  2,638     $  4,635
                                 ========     ========     ========


</TABLE>


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


                                       17


<PAGE>


                    TRIMAINE HOLDINGS, INC. AND SUBSIDIARIES

           CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
              For the Years Ended December 31, 2001, 2000 and 1999
                            (In Thousands of Dollars)

<TABLE>
<CAPTION>

                                                                 Number of
                               Number of                         Preferred  Preferred    Additional    Retained
                               Common          Common            Shares,    Shares,      Paid-in       Earnings
                               Shares          Shares            Series B   Series B     Capital       (Deficit)
                               --------------  ----------------  ---------  -----------  ------------  -------------------
<S>                            <C>             <C>               <C>        <C>          <C>           <C>
Balance at December 31, 1998      10,837,808   $           108      60,000  $         1  $    14,673   $           (5,230)

Sale of common shares              5,000,000                50           -            -        1,795                    -

Current year change in other
 comprehensive income (loss)               -                 -           -            -            -                    -

Net income for the year                    -                 -           -            -            -                4,822

Dividend                                   -                 -           -            -            -                 (300)
                               --------------  ----------------  ---------  -----------  ------------  -------------------

Balance at December 31, 1999      15,837,808               158      60,000            1       16,468                 (708)

Current year change in other
 comprehensive income (loss)               -                 -           -            -            -                    -

Net income for the year                    -                 -           -            -            -                1,742

Dividend                                   -                 -           -            -            -                 (300)
                               --------------  ----------------  ---------  -----------  ------------  ------------------

Balance at December 31, 2000      15,837,808               158      60,000            1       16,468                  734

Share repurchase                    (515,111)               (5)          -            -         (110)                   -

Current year change in other
 comprehensive income (loss)               -                 -           -            -            -                    -

Net (loss) for the year                    -                 -           -            -            -               (1,117)

Dividend                                   -                 -           -            -            -                 (300)
                               --------------  ----------------  ---------  -----------  ------------  -------------------

Balance at December 31, 2001      15,322,697   $           153      60,000  $         1  $    16,358   $             (683)
                               ==============  ================  =========  ===========  ============  ===================



                               Accumulated
                               Other
                               Comprehensive
                               Income (Loss),
                               Unrealized
                               Income (Loss)
                               on Securities    Total
                               ---------------  --------
<S>                            <C>              <C>
Balance at December 31, 1998   $         (847)  $ 8,705

Sale of common shares                       -     1,845

Current year change in other
 comprehensive income (loss)             (187)     (187)

Net income for the year                     -     4,822

Dividend                                    -      (300)
                               ---------------  --------

Balance at December 31, 1999           (1,034)   14,885

Current year change in other
 comprehensive income (loss)              896       896

Net income for the year                     -     1,742

Dividend                                    -      (300)
                               ---------------  --------

Balance at December 31, 2000             (138)   17,223

Share repurchase                            -      (115)

Current year change in other
 comprehensive income (loss)            7,575     7,575

Net (loss) for the year                     -    (1,117)

Dividend                                    -      (300)
                               ---------------  --------

Balance at December 31, 2001   $        7,437   $23,266
                               ===============  ========


</TABLE>


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


                                       18


<PAGE>


                    TRIMAINE HOLDINGS, INC. AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
              For the Years Ended December 31, 2001, 2000 and 1999
                            (In Thousands of Dollars)


<TABLE>
<CAPTION>


                                          2001       2000       1999
                                        --------   --------   --------
<S>                                     <C>        <C>        <C>
Cash Flows from Operating Activities
  Net (loss) income                     $ (1,117)  $  1,742   $  4,822
   Adjustments to reconcile
    net (loss) income to
    net cash flows from
    operating activities
      Gain on disposal of former
       subsidiaries
       (from related party
       $4,565 in 1999)                         -          -     (5,040)
      Loss on sale of investments              -      1,991          -
      Change in operating assets and
       liabilities
        Real estate held for
         development and sale               (253)     2,870         19
        Deferred income tax asset              -        601       (601)
        Accounts receivable                3,481     (3,481)       103
        Accounts payable and accrued
         liabilities                         116       (670)       156
        Amount due to affiliates           2,036         44     (4,900)
        Deferred income tax liability       (577)       297          -
        Other                                (73)       110          8
                                        --------   --------   --------
        Net cash flows from operating
         activities                        3,613      3,504     (5,433)

Cash Flows from Investing Activities
  Proceeds from sale of investments            -      3,648      5,040
  Purchases of investments                     -     (4,138)         -
                                        --------   --------   --------

        Net cash flows from investing
         activities                            -       (490)      5,040

Cash Flows from Financing Activities
  Proceeds from debt                           -          -        400
  Payment of debt                              -     (2,065)       (75)
  Proceeds from common stock
   issuance                                    -          -      1,845
  Share repurchase                          (115)         -          -
  Dividend                                  (300)      (300)      (300)
                                        --------   --------   --------
        Net cash flows from financing
         activities                         (415)    (2,365)     1,870
                                        --------   --------   --------
        Net increase in cash               3,198        649      1,477

Cash, beginning of year                    2,721      2,072        595
                                        --------   --------   --------
Cash, end of year                       $  5,919   $  2,721   $  2,072
                                        ========   ========   ========

</TABLE>

Cash  paid for interest during years ended December 31, 2001, 2000 and 1999, was
$16,  $175  and  $867,  respectively.


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


                                       19


<PAGE>


                    TRIMAINE HOLDINGS, INC. AND SUBSIDIARIES

                          NOTES TO FINANCIAL STATEMENTS
             (In Thousands of Dollars, Except for Per Share Amounts)

Note  1.  Nature  of  Operations  and  Significant  Accounting  Policies

Nature  of  Operations
----------------------

Trimaine  Holdings,  Inc. ("the Company") is in the financial services industry.
The  Company  is  a  subsidiary  of  MFC  Bancorp,  Ltd.  ("MFC"),  a  Canadian
corporation.

Principles  of  Consolidation
-----------------------------

The  consolidated  financial  statements include the accounts of the Company and
its  wholly-owned  subsidiaries.  All  significant  intercompany  accounts  and
transactions  have  been  eliminated.

Cash
----

Cash  balances  are  occasionally  in  excess  of  federally  insured  amounts.

Investments
-----------

The  Company  holds  certain of its marketable investments as available-for-sale
securities  which  are  stated  at  fair value.  Any unrealized holding gains or
losses  of available-for-sale securities are reported as a separate component of
comprehensive  income  until realized.  If a loss in value in available-for-sale
securities  is  considered  to  be other than temporary, it is recognized in the
determination  of  net  income.  Cost  is  based  on the specific identification
method  to  determine  realized  gains  or losses.  Investments in nonmarketable
securities  (consisting of preferred stock of MFC at December 31, 2000 and 1999)
are  stated  at  the  lower  of  cost  or  net  realizable  value.  Management
periodically  reviews  the  financial  status  of  the  issuers of nonmarketable
securities.  If,  based  on  this  review,  management  determines  that  future
estimated  undiscounted  cash flows from these investments is less than carrying
value,  a  loss  will  be  recorded.

Real  Estate  Held  for  Development  and  Sale
-----------------------------------------------

Real estate held for development and sale is stated at cost unless the estimated
future  undiscounted cash flows expected to result from disposition is less than
carrying  value,  in  which case a loss is recognized based on the fair value of
similar  real  estate  in  the same geographic region.  No such losses have been
recorded  in these consolidated financial statements.  The Company's real estate
is  being  actively  marketed  and is, therefore, classified as a current asset.


                                       20


<PAGE>


Note  1.  (Continued)
---------------------

Environmental  Conservation
---------------------------

Liabilities for environmental conservation are recorded when it is probable that
obligations have been incurred and the amounts can be reasonably estimated.  Any
potential  recoveries  of  such  liabilities are to be recorded when there is an
agreement with a reimbursing entity.  No such liabilities were recorded in these
consolidated  financial  statements.

Taxes  on  Income
-----------------

The Company accounts for income taxes under an asset and liability approach that
requires  the  recognition  of  deferred tax assets and liabilities for expected
future  tax  consequences  of  events that have been recognized in the Company's
financial statements or tax returns.  In estimating future tax consequences, the
Company  generally considers all expected future events other than enactments of
changes  in  the  tax  laws  or  rates.

Earnings  Per  Share
--------------------

Basic  earnings  per  share  is  computed by dividing income available to common
shareholders  by the weighted average number of common shares outstanding in the
period.  Diluted  earnings  per  share  takes  into  consideration common shares
outstanding  (computed  under basic earnings per share) and potentially dilutive
common  shares;  however,  there  were no dilutive securities for 2001, 2000 and
1999.

The weighted average number of shares outstanding was 15,626,879, 15,837,808 and
10,892,603  for  the years ended December 31, 2001, 2000 and 1999, respectively.
The  income  to  compute the amount attributable to common shareholders includes
the  recognition of preferred stock dividends in arrears of $300 for each of the
years  ended  December  31,  2001,  2000  and  1999.

Use  of  Estimates
------------------

The  preparation  of  financial  statements  in  conformity  with  United States
generally  accepted  accounting principles requires management to make estimates
and  assumptions  that  affect the reported amount of assets and liabilities and
disclosure  of  contingent  assets  and liabilities at the date of the financial
statements  and  the  reported  amounts  of  revenues  and  expenses  during the
reporting  period.  Actual  results  could  differ  from  those  estimates.

Segment  Information
--------------------

Management operates the Company as one segment, financial services.  Information
for  management  purposes  does not require the segmenting of financial services
activities.  Operating  revenues are realized primarily from third party sources
in  the  United States.  All long-lived assets are located in the United States.
Since  there  is  one  segment, no additional segment disclosures are considered
necessary.


                                       21


<PAGE>


(Note  1.  Continued)
---------------------

New  Accounting  Standards
--------------------------

Statement  of  Financial  Accounting  Standards  No.  142,  "Goodwill  and Other
Intangible  Assets,"  is  to  be  applied  starting  with  years beginning after
December  15,  2001.  This  standard addresses how intangible assets, other than
those acquired in a business combination, should be accounted for.  Goodwill and
intangible  assets that have indefinite useful lives will no longer be amortized
but  will  be  tested  annually  for  impairment.

Statement  of  Financial  Accounting  Standards  No.  143, "Accounting for Asset
Retirement  Obligations,"  is effective for years beginning after June 15, 2002.
This standard addresses accounting and reporting for obligations associated with
the  retirement  of  tangible long-lived assets and associated retirement costs.

Statement  of  Financial  Accounting  Standards  No.  144,  "Accounting  for the
Impairment  or  Disposal of Long-Lived Assets," is effective for years beginning
after  December 15, 2001. This standard supersedes the previous standard on this
issue  as well as others which dealt with accounting for discontinued operations
and  the  elimination  of  an  exception  to  consolidation.

Management  believes  these standards will not affect the Company's consolidated
financial  statements.

Note  2.  Investments

The  Company  has  investments  in available-for-sale securities which have been
classified  as  long-term at December 31, 2001, 2000 and 1999.  These securities
may  be  summarized  as  follows:


<TABLE>
<CAPTION>

                                     2001            2000            1999
                                   --------        --------        --------
<S>                                <C>             <C>             <C>

Fair  value  of securities
at December 31 (of which
$21,505 represents 1,870,000
shares  of  MFC common stock
in 2001, and $3,906 and $4,438
represents 500,000 shares in
2000 and 1999, respectively)       $ 21,516        $  3,928        $  4,605

Cost of securities at December
31 (of which $10,215 represents
1,870,000 shares of  MFC common
stock in 2001, and $4,015 and
$4,830 represents 500,000 shares
in 2000  and  1999,  respectively)   10,248           4,138           5,639
                                   --------        --------        --------

Unrealized  gain (loss) at
December 31                        $ 11,268        $   (210)       $ (1,034)
                                   ========        ========        ========

</TABLE>


                                       22


<PAGE>


Note  2.  (Continued)

At December 31, 2000 and 1999, long-term investments included 82,200 MFC Class A
Preferred  Shares, Series 1, carried at the original cost of $6,200.  No trading
market  existed for these shares.  Based on management's review of the financial
status  of  MFC,  fair  value  was  determined to be equal to cost.  The Company
received  $270, $281 and $274 in dividends in 2001, 2000 and 1999, respectively,
on  the  preferred  shares.  These  shares  were converted into 1,370,000 common
shares  of  MFC  during  2001.

Note  3.  Preferred  Stock

The  Company's  Preferred Shares, Series B are voting and require that dividends
be  paid  annually  at  5% in arrears on December 31 (amounting to approximately
$300  at December 31, 2001).  Should dividends not be paid as required, interest
at  8%  is  to  be  accrued  on the unpaid amount.  The Company may redeem these
shares  at  any  time at an aggregate price which includes all unpaid dividends,
accrued  interest  and  a redemption premium of 10% based on the amount paid for
the  shares.  Upon  liquidation,  these  shares are entitled to receive the same
amounts as redemption in priority to the common or other shares.  As long as any
of  the  Preferred  Shares,  Series B remain outstanding, the Company cannot pay
dividends on common or other junior shares, redeem less than all of these shares
or  issue  additional  preferred  stock  unless  all  unpaid dividends including
interest  have  been paid.  In any event, no shares may be issued in priority to
the  Preferred  Shares,  Series  B  without  the  approval  of  the  preferred
shareholders.  All 60,000 issued and outstanding shares are held by a subsidiary
of  MFC.


Note  4.  Income  Tax

The  reconciliation of income tax computed at the U.S. federal statutory rate to
the  Company's  effective  tax  for  years  ended  December  31  is  as follows:


<TABLE>
<CAPTION>


                                     2001         2000         999
                                   --------     --------     --------
<S>                                <C>          <C>          <C>
Tax at U.S. statutory rate         $    576     $   (897)    $ (1,449)

Tax basis in disposed shares              -            -          732


Decrease (increase) in
 valuation allowance                      -            -        1,185

Other                                     1            -           93
                                   --------     --------     --------


Deferred income tax benefit
 (provision)                       $    577     $   (897)    $    561
                                   ========     ========     ========


</TABLE>


                                       23


<PAGE>


Note  4.  (Continued)

The significant components of the Company's deferred tax asset and liability are
as  follows:


<TABLE>
<CAPTION>


                                                            2001        2000
                                                          ========    ========
<S>                                                       <C>          <C>
Available net operating loss carryforwards                $     76    $    156

Comprehensive (gain) loss                                   (3,831)         72


Tax basis in real estate acquired in excess
  of carrying value                                            171         174

Other                                                           33           -
                                                          --------    --------

                                                           (3,551)         402

Deferral of gain on sale of real estate                         -         (627)
                                                          -------     --------

Net deferred tax liability                                $(3,551)    $   (225)
                                                          =======     ========


</TABLE>


The  Company's  net operating loss carryforwards of $223 will expire in the year
ending  December  31,  2018.


Note  5.  Transactions  With  Affiliates

The  Company  paid  MFC  $541  for  investment  management  services  during
2001.  The  Company  received  an  advance  of $1,591 from MFC  which  is
outstanding  at  December  31,  2001.  This amount will be paid in the near term
without  interest.  Management  believes that fair value approximates cost based
on  near  term  collection.

MFC  charged  the  Company  a management fee of $150, $150 and $300 during 2001,
2000  and  1999,  respectively.

The Company acquired 107,952 of its common shares from MFC for $22 in cash.

The  Company  has  receivables  from affiliates of none and $445 at December 31,
2001  and  2000,  respectively.  Management estimates that the fair value of the
receivables  approximates  carrying  value  based on similar transactions in the
market.

The Company had a deposit with a banking subsidiary of MFC of $2,294 at December
31,  2000.

MFC  earned  a  fee  of  $167  during  2000  for  the  sale  of  real  estate.


                                       24


<PAGE>


                                   SIGNATURES

Pursuant  to  the requirements of Section 13 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.

Date:  March  28,  2002                         TRIMAINE  HOLDINGS,  INC.

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

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.


/s/  Michael  J.  Smith              Date:  March  28,  2002
-----------------------------
Michael  J.  Smith
President,  Chief  Financial
Officer  and Director


/s/  Roy  Zanatta                    Date:  March  28,  2002
-----------------------------
Roy  Zanatta
Director


/s/  Young  Soo  Ko                  Date:  March  28,  2002
-----------------------------
Young  Soo  Ko
Director


                                       25


<PAGE>


                                  EXHIBIT INDEX

Exhibit  Number         Description
---------------         -----------

3.1                    Articles  of  Incorporation.(1)

3.2                    Amendment  to Articles of Incorporation
                       dated November 5, 1993.(1)

3.3                    Amendment  to  Articles  of Incorporation
                       dated April 22, 1994.(1)

3.4                    Amendment  to  Articles  of Incorporation
                       dated April 14, 1995.(1)

3.5                    Amendment  to  Articles  of  Incorporation
                       dated  July  10,  1996.  Incorporated  by
                       reference  to  the  Corporation's  Form  8-K
                       dated June 27, 1996.

3.6                    Amendment  to  Articles of Incorporation dated
                       March 23,  2000.  Incorporated  by reference to
                       the Corporation's Form 8-K dated March 29, 2000.

3.7                    Bylaws.(1)

10.1                   Debt  Settlement  Agreement between the Corporation
                       and ICHOR Corporation  dated  September  30,  1997.(2)

10.2                   Debt  Settlement  Agreement  between  the Corporation
                       and  ICHOR Corporation  dated  February  20,  1998.(2)

10.3                   Purchase Agreement between the Corporation and MFC
                       Merchant  Bank  S.A.  dated  January 4, 1999.
                       Incorporated  by  reference to  the Schedule 13D/A
                       with respect to shares of  Ichor  dated
                       January 4, 1999.

21                     List  of  subsidiaries  of  the Registrant.

---------------
(1)  Incorporated  by reference to the Corporation's Registration Statement
     on  Form  10-SB.
(2)  Incorporated by reference to the Schedule 13D/A with respect to shares
     of  Ichor  dated  March  13,  1998.


<PAGE>


                                   EXHIBIT 21