================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

[X]   Quarterly Report pursuant to Section 13 or 15(d) of the Securities
      Exchange Act of 1934

      For the quarterly period ended    September 30, 2004
                                     ----------------------

[ ]   Transition Report pursuant to 13 or 15(d) of the Securities Exchange
      Act of 1934

      For the transition period                  to
                               ------------------   --------------------

      Commission File Number    001-32289
                            -----------------

                                   ZENO, INC.
    ------------------------------------------------------------------------
        (Exact name of small Business Issuer as specified in its charter)


          Nevada                                     Applied for
---------------------------------           -----------------------------
(State or other jurisdiction of           (IRS Employer Identification No.)
 incorporation or organization)


220 Decourcy Drive,
Gabriola Island, British Columbia                       V0R 1X1
----------------------------------------      -----------------------------
(Address of principal executive offices)           (Postal or Zip Code)


Issuer's telephone number, including area code: 604-837-2739
                                                -------------

                                      None
     -----------------------------------------------------------------------
      (Former name, former address and former fiscal year, if changed since
                                  last report)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Securities  Exchange  Act of 1934  during the  preceding  12
months (or for such  shorter  period  that the issuer was  required to file such
reports),  and (2) has been subject to such filing  requirements for the past 90
days [ ] Yes [X] No

State the number of shares outstanding of each of the issuer's classes of
common stock,  as of the latest  practicable  date:  5,971,000  shares of $0.001
par value common stock  outstanding as of November 15, 2004.


<page>








                                   ZENO, INC.

                        (A Pre-exploration Stage Company)

                          INTERIM FINANCIAL STATEMENTS

                               September 30, 2004

                             (Stated in US Dollars)

                                   (Unaudited)
                                   -----------





<page>


                                   ZENO, INC.
                        (A Pre-exploration Stage Company)
                             INTERIM BALANCE SHEETS
                      September 30, 2004 and March 31, 2004
                             (Stated in US Dollars)
                                   (Unaudited)
                                   -----------

<table>
<caption>
                                     ASSETS
                                     ------
                                                                                     September 30,         March 31,
                                                                                          2004                2004
                                                                                          ----                ----

                                                                                   <c>                  <c>
Current
   Cash                                                                            $         19,417    $         23,812
   Advance receivable - Note 3                                                                1,549                   -
                                                                                     --------------         -----------
                                                                                   $         20,966    $         23,812
                                                                                     ==============         ===========

                                   LIABILITIES
                                   -----------
Current
   Accounts payable and accrued liabilities                                        $          9,228    $          5,816
                                                                                      -------------         -----------

                              STOCKHOLDERS' EQUITY
                              --------------------

Capital stock
  Authorized:
   75,000,000 common shares, par value $0.001 per share
  Issued and outstanding:
   5,971,000 common shares (March 31, 2004:  5,971,000)                                       5,971               5,971
Additional paid in capital                                                                   21,879              21,879
Deficit accumulated during the pre-exploration stage                                   (     16,112)       (      9,854)
                                                                                       ------------         -----------
                                                                                             11,738              17,996
                                                                                       ------------         -----------
                                                                                   $         20,966    $         23,812
                                                                                       ============         ===========
</table>




                             SEE ACCOMPANYING NOTES

<page>


                                   ZENO, INC.
                        (A Pre-exploration Stage Company)
                        INTERIM STATEMENTS OF OPERATIONS
         for the three and six months ended September 30, 2004 and 2003
  and the period January 28, 2003 (Date of Incorporation) to September 30, 2004
                             (Stated in US Dollars)
                                   (Unaudited)
                                   -----------

<table>
<caption>

                                                                                                       January 28,
                                                                                                       2003 (Date of
                                          Three Months Ended               Six Months Ended         Incorporation) to
                                             September 30,                    September 30,            September 30,
                                        2004               2003           2004            2003             2004
                                        ----               ----           ----            ----             ----

                                  <c>                <c>           <c>             <c>             <c>
Expenses
   Accounting and audit           $         2,419    $          -  $        3,893   $          -   $         7,993
   fees
   Bank charges                                99              22             144             36               224
   Filing                                     722               -             722              -               722
   Legal fees                               1,500               -           1,500              -             2,500
   Office and                                   -              55               -             55               476
   miscellaneous
   Resource property                            -               -               -              -             4,197
   costs
                                       -----------     -----------     ----------     -----------       -----------
Net loss for the period           $   (     4,740)   $         77  $   (    6,259)  $          91   $  (    16,112)
                                       ===========     ===========     ==========     ===========       ===========
Basic and diluted loss per share
                                  $          0.00    $       0.00  $         0.00   $        0.00
                                       ===========     ===========     ==========     ===========
Weighted average number of shares
outstanding                             5,971,000        4,127,717      5,971,000       2,118,852
                                       ===========     ===========     ===========    ===========
</table>


                             SEE ACCOMPANYING NOTES

<page>

                                   ZENO, INC.
                        (A Pre-exploration Stage Company)
                        INTERIM STATEMENTS OF CASH FLOWS
         for the three and six months ended September 30, 2004 and 2003,
 and the period January 28, 2003 (Date of Incorporation) to September 30, 2004
                             (Stated in US Dollars)
                                   (Unaudited)
                                   -----------
<table>
<caption>
                                                                                                           January 28,
                                                                                                          2003 (Date of
                                                                        Six Months Ended                 Incorporation) to
                                                                          September 30,                   September 30,
                                                                   2004                  2003                  2004
                                                                   ----                  ----                  ----

                                                            <c>                   <c>                    <c>
Cash Flows used in Operating Activities
   Net loss for the period                                  $  (        6,258)    $      (       91)    $  (       16,112)
   Adjustments to reconcile net loss to net cash
    used by operating activities
      Accounts payable and accrued liabilities                           3,412                    -                 9,228
                                                                -------------           -----------         -------------
Net cash used in operating activities                          (         2,846)           (      91)       (        6,884)
                                                                -------------           ------------        -------------
Cash Flows used in Investing Activity
      Advances Receivable                                       (        1,549)                   -         (       1,549)
                                                                -------------          ------------         ------------
Net Cash used in investment activity                            (        1,549)                   -         (       1,549)
                                                                -------------          ------------         ------------
Cash Flows from Financial Activity
   Issuance of common shares                                                -                 5,750                27,850
                                                                -------------           ------------         ------------
Net cash from financing activity                                            -                 5,750                27,850
                                                                -------------           ------------         ------------
Increase (decrease) in cash during the period                  (        4,395)                5,659                19,417

Cash, beginning of the period                                          23,812                     -                     -
                                                                -------------           ------------         ------------
Cash, end of the period                                     $          19,417     $           5,659     $          19,417
                                                                =============           ============         ============
Supplemental disclosure of cash flow information Cash paid for:
     Interest                                               $               -     $               -     $               -
                                                                =============           ============         =============
     Income taxes                                           $               -     $               -     $               -
                                                                =============           ============         =============
</table>



                             SEE ACCOMPANYING NOTES

<page>

                                   ZENO, INC.
                        (A Pre-exploration Stage Company)
             INTERIM STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY)
 for the period January 28, 2003 (Date of Incorporation) to September 30, 2004
                             (Stated in US Dollars)
                                   (Unaudited)
                                   -----------

<table>
<caption>
                                                                                               Deficit
                                                                                             Accumulated
                                                                              Additional      During the
                                                 Common Shares                  Paid-in           Pre
                                    ------------------------------------                      Exploration
                                             Number          Par Value           Capital          Stage           Total
                                             ------          ---------           -------         -------         ------

                                          <c>              <c>              <c>             <c>              <c>
Net loss for the period                             -  $             -   $             -  $  (      1,520) $  (      1,520)
                                          -----------      -----------        ----------      ------------      -----------
Balance, March 31, 2003                             -                -                 -     (      1,520)    (      1,520)

Capital stock issued for cash
 - at $0.001                                5,750,000            5,750                 -                -            5,750
 - at $0.10                                   221,000              221            21,879                -           22,100
Net loss for the year                               -                -                 -     (       8,334)   (      8,334)
                                           ----------       ----------         ---------      ------------      -----------
Balance, March 31, 2004                     5,971,000            5,971   $        21,879     (       9,854)         17,996

Net loss for the period                             -                -                 -     (       6,258)   (      6,258)
                                           ----------       ----------         ---------      ------------      -----------
Balance, September 30, 2004                 5,971,000  $         5,971   $        21,879  $  (      16,112) $        11,738
                                           ==========       ==========         ==========     ============      ===========
</table>



                             SEE ACCOMPANYING NOTES


<page>

                                   ZENO, INC.
                        (A Pre-exploration Stage Company)
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                               September 30, 2004
                             (Stated in US Dollars)
                                   (Unaudited)
                                   -----------

Note 1        Interim Financial Statements
              ----------------------------

              While the information  presented in the accompanying six months to
              September 30, 2004 interim financial  statements is unaudited,  it
              includes all adjustments  which are, in the opinion of management,
              necessary to present  fairly the  financial  position,  results of
              operations  and cash flows for the  interim  period  presented  in
              accordance with the accounting  principles  generally  accepted in
              the United States of America.  In the opinion of  management,  all
              adjustments  considered  necessary for a fair  presentation of the
              results of operations  and  financial  position have been included
              and all such adjustments are of a normal recurring  nature.  It is
              suggested that these  financial  statements be read in conjunction
              with the Company's March 31, 2004 financial statements.

              Operating results for the quarter ended September 30, 2004 are not
              necessarily indicative of the results that can be expected for the
              year ending March 31, 2005.

Note 2        Continuance of Operations
              -------------------------

              The  financial  statements  have  been  prepared  using  generally
              accepted  accounting  principles  in the United  States of America
              applicable for a going concern which assumes that the Company will
              realize its assets and discharge its  liabilities  in the ordinary
              course of business.  The  financial  statements do not include any
              adjustments  relating to the  recoverability and classification of
              recorded  assets or the amount and  classification  of liabilities
              that might be necessary in the event the Company  cannot  continue
              in  existence.   As  at  September  30,  2004,   the  Company  has
              accumulated losses of $16,112 since its commencement.  Its ability
              to continue as a going  concern is  dependent  upon the ability of
              the  Company  to  obtain  the  necessary  financing  to  meet  its
              obligations and pay its  liabilities  arising from normal business
              operations when the come due.

              The Company was incorporated in the State of Nevada on January 28,
              2003.

              The  Company  has  filed  a  Form  SB-2   Registration   Statement
              prospectus   with  the  United  States   Securities  and  Exchange
              Commission  to qualify  for the sale by existing  shareholders  of
              1,971,000  common shares at an offering  price of $0.10 per share.
              The Company  will not receive any proceeds  from this  offering as
              these shares have already been issued.

Note 3        Advance Receivable
              ------------------

              Advance receivable is due from a private company controlled by the
              spouse of a director of the  Company.  This  amount is  unsecured,
              non-interest bearing and has no specific terms for repayment.

<page>


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

FORWARD LOOKING STATEMENTS

This quarterly report contains forward-looking statements that involve risks and
uncertainties.  We use words such as anticipate,  believe, plan, expect, future,
intend and similar expressions to identify such forward-looking  statements. You
should not place too much  reliance  on these  forward-looking  statements.  Our
actual results are likely to differ  materially from those  anticipated in these
forward-looking  statements  for many  reasons,  including the risks faced by us
described in this Risk Factors section and elsewhere in this annual report.

Item 3.  Controls and Procedures

As required by Rule 13a-15 under the Exchange  Act,  within the 90 days prior to
the filing date of this report,  the Company  carried out an  evaluation  of the
effectiveness of the design and operation of the Company's  disclosure  controls
and procedures. This evaluation was conducted by Mr. Frank McGill, a director of
the Company,  who also acts as the Company's  President and the Chief  Executive
Officer and Mrs.  Linda Smith,  a director who also acts as the Company's  Chief
Financial Officer and Treasurer.

Based upon that evaluation,  the Company concluded that the disclosure  controls
and  procedures are  effective.  There have been no  significant  changes in the
Company's  internal  controls or in other  factors,  which  could  significantly
affect  internal  controls  subsequent  to the date the Company  carried out its
evaluation.

Plan of Operation

Our  plan of  operations  for  the  twelve  months  following  the  date of this
quarterly  report  is to  complete  the  recommended  phase  one and  phase  two
exploration  programs  on the  Rawluk  Lake  property  at an  estimated  cost of
$11,760.

The Phase I exploration program will consist of prospecting and linecutting.  We
intend  to  commence  this  phase in the  spring of 2005.  The  phase  will take
approximately one month to complete.

Phase II will  consist of  geochemical  and  geophysical  surveys.  We intend to
commence this phase in the summer of 2005. The phase will take  proximately  one
month to complete.

We  also   anticipate   spending   approximately   $23,000  in  connection  with
administrative  expenses  relating to our affairs.  Accordingly,  we  anticipate
spending $34,760 in order to accomplish our business objectives over the next 12
months.

We  currently  have  enough  funds on hand to  complete  the first two phases of
exploration  on the Rawluk Lake  property.  To complete phase three and to cover
administrative  costs  will  require  additional  funding.  We  anticipate  that
additional  funding  will be required in the form of equity  financing  from the
sale of our  common  stock.  However,  we may not be  able to  raise  sufficient
funding  from  the sale of our  common  stock  to fund  the  third  phase of the
exploration  program.  We do not have any  arrangements  in place for any future
equity  financing.  Our  management  is prepared  to provide us with  short-term
loans, although no such arrangement has been made.

<page>

If we do not secure  additional  funding for  exploration  expenditures,  we may
consider  seeking an arrangement with a joint venture partner that would provide
the  required  funding in exchange for  receiving a part  interest in the Rawluk
Lake  property.  We have not  undertaken  any efforts to locate a joint  venture
partner.  There is no guarantee  that we will be able to locate a joint  venture
partner who will assist us in funding  exploration  expenditures upon acceptable
terms. We may also pursue acquiring interests in alternate mineral properties in
the future.

Results Of Operations for Six-Month Period Ended September 30, 2004

We incurred total  operating  expenses in the amount of $6,258 for the six-month
period ended September 30, 2004, as compared to $91 for the  comparative  period
in 2003.  During the six months ended  September 30, 2004, we incurred $3,893 in
accounting and audit fees (2003:  $Nil), $143 in bank charges (2003:  $36), $722
in filing fees (2003:  $Nil) and $1,500 in legal fees (2003:  $Nil).  At quarter
end, we had cash on hand of $19,417.  Our  liabilities at the same date totalled
$9,228 and consisted of accounts  payable of $4,772 and accrued  liabilities  of
$4,456.

PART II- OTHER INFORMATION

Item 1.  Legal Proceedings

The Company is not a party to any pending  legal  proceeding.  Management is not
aware of any threatened litigation, claims or assessments.

Item 2.  Changes in Securities

         None.

Item 3. Defaults Upon Senior Securities

         None.

Item 4. Submission of Matters to a Vote of Security Holders

         None.

Item 5. Other Information

         None.

Item 6. Exhibits and Report on Form 8-K

 31.1    Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant
         to Section 302 of the Sarbanes-Oxley Act of 2002
 31.2    Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant
         to Section 906 of the Sarbanes-Oxley Act of 2002
 32.1    Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant
         to Section 906 of the Sarbanes-Oxley Act of 2002
 32.2    Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant
         to Section 906 of the Sarbanes-Oxley Act of 2002

During the six-month  period ended  September 30, 2004, the Company did not file
any current reports on Form 8-K.


<page>


SIGNATURES

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

                                             Zeno, Inc.

                                             /s/ Frank McGill
                                             ---------------------------
                                             Frank McGill
                                             President, Chief Executive
                                             Officer, Secretary and Director
                                             Dated: November 15, 2004


                                             Zeno, Inc.

                                             /s/ Linda Smith
                                             ---------------------------
                                             Linda Smith
                                             Chief Financial Officer,
                                             Treasurer, principal accounting
                                             officer and Director
                                             Dated: November 15, 2004