FORM 1O-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                Quarterly Report Under Section 13 or 15(d) of the
                        Securities Exchange Act of 1934

                For the Quarterly Period Ended September 30, 2000

                         Commission File Number: 0-19505

                              YANG HOLDING COMPANY
             (exact name of registrant as specified in its charter)

         FLORIDA                                               65-274107
(State or other jurisdiction of                          (IRS Employer I.D. No.)
Incorporation of organization)

              2666 TIGERTAIL AVENUE, SUITE 104 MIAMI, FLORIDA 33133
                    (Address of principal executive offices)

                                 (305) 673-9078
              (Registrant's telephone number, including area code)

                                 Not Applicable
   (former name, address and FORMER fiscal year, if changed from last report)

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 and Exchange Act of 1934
during the preceding 12 months (or for such short 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 [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF
COMMON STOCK, AS OF THE LATEST PRACTICABLE DATE.

As of September 30, 2000 there were 50,003,000 shares of Common Stock
outstanding.


<PAGE>


                                      INDEX

PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

         Condensed Balance Sheets as of September 30, 2000 (Unaudited) and
         December 31, 1999                                                     3

         Condensed Statement of Operations for the Three Months Ended
         September 30, 2000 and 1999 (Unaudited)                               4

         Condensed Statement of Changes in Shareholders' Equity for the
         Three Months Ended September 30, 2000 and 1999 (Unaudited)            5

         Condensed Statement of Cash Flow   for the Three Months Ended
         September 30, 2000 and 1999 (Unaudited)                               6

         Notes to Condensed Financial Statements                             7-8

ITEM 2  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
        FINANCIAL CONDITION AND RESULTS OF OPERATIONS                          9

PART II - OTHER INFORMATION                                                10-11

SIGNATURE PAGE                                                                12

                                       2
<PAGE>

                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                             CONDENSED BALANCE SHEET
                    September 30, 2000 and December 31, 1999
                              (Unaudited) (Audited)

                                                        9/30/00      12/31/99
                                                      (Unaudited)    (Audited)
                                                       --------      --------
ASSETS

  Organizational costs                                 $     70      $     70

  Less  accumulated amortization                            (70)          (70)
                                                       --------      --------

Total Assets                                           $      0      $      0
                                                       ========      ========

LIABILITIES AND SHAREHOLDERS' EQUITY
(DEFICIENCY IN ASSETS)

Liabilities:
Accrued expenses                                       $      0      $      0
                                                       --------      --------
Shareholders' Equity:

Common Stock, par value $0.001 per share;
  200,000,000 shares authorized,
  50,003,000 shares issued and outstanding in 1999       50,003        50,003
Additional Paid-In Capital                               16,504        11,313
Preferred Stock, par value $.10 per
share; 1,000,000 shares authorized,
no shares issued and outstanding                              0             0
Deficit accumulated during the
development stage                                       (66,507)      (61,316)
                                                       --------      --------

Total Shareholders' Equity                                    0             0
                                                       --------      --------

Total Liabilities and Shareholders' Equity             $      0      $      0
                                                       ========      ========


See Accompanying Notes to Condensed Financial Statements

                                       3
<PAGE>
                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                        CONDENSED STATEMENT OF OPERATIONS
             For the three months ended September 30, 2000 and 1999
                                   (Unaudited)

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

Revenues                             $     0      $     0
                                     -------      -------

Total Revenues                             0            0
                                     -------      -------

Expenses:

  Professional fees and expenses         600        5,693
                                     -------      -------

Total Expenses                           600        5,693
                                     -------      -------

Net Loss                             $  (600)     $(5,693)
                                     =======      =======

See Accompanying Notes to Condensed Financial Statements

                                       4
<PAGE>
                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
             CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
             For the three months ended September 30, 2000 and 1999
                                   (Unaudited)

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

Shareholders' Equity:
         Beginning of period                 $     0      $  (500)

Additions

         Shareholder contributions               600        5,693

Deductions
         Net loss for the three months
         ended June 30, 2000 and 1999
         (Additional deficit accumulated
         during the development stage)          (600)      (5,693)
                                             -------      -------

Ending balance at end of period              $     0      $  (500)
                                             =======      =======

See Accompanying Notes to Condensed Financial Statements

                                       5
<PAGE>

                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                        CONDENSED STATEMENT OF CASH FLOW
             For the three months ended September 30, 2000 and 1999
                                   (Unaudited)

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

CASH FLOW FROM OPERATING ACTIVITIES

Net loss                                            $  (600)     $(5,693)
Adjustment to reconcile net loss to
Net cash used by operating activities:                   --           --
                                                    -------      -------
                                                       (600)      (5,693)
                                                    -------      -------

Net cash used by operating activities                  (600)      (5,693)

CASH FLOW FROM INVESTING
  ACTIVITIES

  Shareholders' contribution to paid in capital         600        5,693
                                                    -------      -------

CASH FLOW FROM FINANCING
  ACTIVITIES                                              0            0
                                                    -------      -------

NET INCREASE (DECREASE) IN CASH                           0            0
                                                    -------      -------

Cash - Beginning of Period                                0            0
                                                    -------      -------

Cash - End of Period                                $     0      $     0
                                                    =======      =======


See Accompanying Notes to Condensed Financial Statements

                                       6
<PAGE>

                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         BUSINESS ACTIVITY

Yang Holding Company (formerly National Advertising Group, Inc.) (the Company)
was organized under the laws of the State of Florida on July 25, 1991. The
Company is a development stage entity, which has not yet commenced business
operations. The Company intends to acquire an operating entity, however, it has
not yet targeted an acquisition.

         BASIS OF PRESENTATION

The accompanying unaudited condensed financial statements of Yang Holding
Company presented herein do not include all disclosures required by generally
accepted accounting principles for complete financial statements. In the opinion
of management these financial statements include all adjustments necessary for a
fair presentation of the results of interim periods.

The interim condensed financial statements should be read in conjunction with
the financial statements and footnotes that are included in the Company's Annual
Report on Form 10-K filed with the Securities and Exchange Commission April 12,
2000.

         RECAPITALIZATION

Effective April 22, 1999, the Company filed Articles of Amendment, which
increased the Company's capitalization to 200,000,000 shares of common stock. In
addition, effective April 22, 1999, the Company forward split its issued and
outstanding common stock 100 for 1.

In connection with the recapitalization, $40,003 was transferred from paid in
capital to common stock. The accompanying condensed financial statements give
effect to the recapitalization.

                                       7
<PAGE>
                              YANG HOLDING COMPANY
                          (A DEVELOPMENT STAGE COMPANY)
              NOTES TO CONDENSED FINANCIAL STATEMENTS - (Continued)
                                   (Unaudited)

NOTE 2 - GOING CONCERN

As shown in the accompanying financial statements, the Company has an
accumulated deficit of $ 66,507 as of September 30, 2000. As a result, the
Company has a deficiency in assets. The management of the Company intends to
actively pursue a business combination through a merger, or an acquisition. The
financial statements do not include any adjustments that might be necessary
should the Company be unable to continue as a going concern.

                                       8
<PAGE>


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


The Registrant has not, as of the end of the nine month period ended September
30, 2000, commenced active business operations. As of September 30, 2000 the
Registrant had no assets or liabilities, and the total Shareholders' Equity was
$0.

The Registrant has no reasonable basis for comparison with respect to its
quarterly financial results in that the Company has not yet commenced its
business operations.

The recurring professional fees and other costs of complying with filings with
the Securities and Exchange Commission, the Internal Revenue Service and others
is being funded through contributions to capital by the Company's principal
shareholder.

                                       9
<PAGE>

PART II - OTHER INFORMATION

ITEM 1.           LEGAL PROCEEDINGS

                  Not Applicable

ITEM 2.           CHANGES IN SECURITIES

Effective April 22, 1999, the Company filed Articles of Amendment, which
increased the Company's capitalization to 200,000,000 shares of common stock. In
addition, effective April 22, 1999, the Company forward split its issued and
outstanding common stock 100 for 1.

The issued and outstanding common stock after the recapitalization consists of
50,003,000 shares, par value $0.001.

ITEM 3.           DEFAULTS UPON SENIOR SECURITIES

                  Not Applicable

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

                  Not Applicable

ITEM 5.           OTHER INFORMATION

                  Not Applicable

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K

                  EXHIBITS

                  27.1      Financial Data Schedule

                  REPORTS ON FORM 8-K

On February 17, 1999 the Company filed a Form 8-K, which is incorporated herein
by reference. The Report principally dealt with a change in the corporate name
from National Advertising Group, Inc., to Yang Holding Company.

                                       10
<PAGE>

PART II - OTHER INFORMATION - (Continued)

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K - (Continued)

Additionally, the February 17, 1999 Form 8-K disclosed a reverse split of the
outstanding shares of common stock, and the resignation of a director.

On April 22, 1999, the Company filed a Form 8-K, which is incorporated herein by
reference. The Report principally dealt with the recapitalization of the Company
and the forward split of its outstanding shares of common stock.

On April 12, 2000 the Company filed a Form 8-K, which is incorporated herein by
reference. The Report principally dealt with a change in the Company's Certified
Public Accountants, from Dohan and Company, P.A. to Berkovitz and Company, P.A.
and states there were no disagreements with Dohan and Company, P.A.

                                       11
<PAGE>

                                   SIGNATURES

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

                                       Registrant:

                                       YANG HOLDING COMPANY

                                       By: /s/ James Chow
                                           --------------------------
                                               JAMES CHOW
                                               President

Date:    November 13, 2000

                                       12
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                                  EXHIBIT INDEX

EXHIBIT     DESCRIPTION

27.1      Financial Data Schedule

                                       13