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, 2002
                         Commission File Number: 0-19505

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

         FLORIDA                                               65-0274107
(State or other jurisdiction of                          (IRS Employer I.D. No.)
Incorporation of organization)

                         1000 Brickell Avenue, Suite 900
                              Miami, Florida 33131
                    (Address of principal executive offices)

                                 (305) 810-2898
              (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, 2002 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 June 30, 2002 (Unaudited) and
         December 31, 2001                                                   3

         Condensed Statement of Operations for the Three Months Ended
         September 30, 2002 and 2001 (Unaudited)                             4

         Condensed Statement of Changes in Shareholders' Equity for the
         Three Months Ended September 30, 2002 and 2001 (Unaudited)          5

         Condensed Statement of Cash Flow   for the Three Months Ended
         September 30, 2002 and 2001 (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 SHEETS


                                                        9/30/02      12/31/01
                                                      (Unaudited)    (Audited)
                                                       --------      --------
ASSETS

Cash
                                                      $      36      $     18
  Total Assets                                        $      36      $     18
                                                       ========      ========

LIABILITIES AND SHAREHOLDERS' EQUITY
(DEFICIENCY IN ASSETS)

Liabilities                                           $       -     $      -
                                                       --------      --------
Shareholders' Equity:

Common Stock, par value $0.001 per share;
  200,000,000 shares authorized,
  50,003,000 shares issued and outstanding in 2000       50,003        50,003
Additional Paid-In Capital                               28,659        23,815
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                                       (78,626)      (73,800)
                                                       --------      --------

Total Shareholders' Equity                                   36            18
                                                       --------      --------

Total Liabilities and Shareholders' Equity             $     36      $     18
                                                       ========      ========


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, 2002 and 2001
                                   (Unaudited)

                                                             2002          2001
                                                            -------      -------

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

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

Expenses:

  Professional fees and expenses                               192          288
  Other                                                         30            -
                                                            -------      -------

Total Expenses                                                 222          288
                                                            -------      -------

Net Loss                                                  $   (222)    $   (288)
                                                            =======      =======

Weighted average loss per share (Note 1)                    ($.000)      ($.000)


Shares used in the calculation of basic & diluted
net loss per share                                      50,003,000    50,003,000


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, 2002 and 2001
                                          (Unaudited)



                                                            2002           2001
                                                          -------        -------

Shareholders' Equity:
         Beginning of period                               $  66          $   0

Additions

         Shareholder contributions                           192            600

Deductions
         Net loss for the three months
         ended Sep 30, 2002 and 2001
         (Additional deficit accumulated
         during the development stage)                      (222)          (600)
                                                           -----          -----

Ending balance at end of period                            $  36          $   0
                                                           =====          =====

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, 2002 and 2001
                                   (Unaudited)

                                                              2002         2001
                                                            -------      -------

CASH FLOW FROM OPERATING ACTIVITIES

Net loss                                                     $(222)       $(288)

                                                             -----        -----
Net cash used by operating activities                         (222)        (288)

CASH FLOW FROM INVESTING
  ACTIVITIES

  Shareholders' contribution to paid in capital                192          288
                                                             -----        -----

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

NET INCREASE (DECREASE) IN CASH                                (30)           0
                                                             -----        -----

Cash - Beginning of Period                                      66            0
                                                             -----        -----

Cash - End of Period                                         $  36        $   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 (we or the Company) was organized under the laws of
the State of Florida on July 25, 1991, as National Advertising Group, Inc. We
are a development stage entity, which has not yet commenced business operations.
We intend to acquire an operating entity, however, we have not yet targeted an
acquisition.

        Loss Per Share

        Loss per share is as computed by dividing the net loss by the average
number of common shares outstanding during each period. The average number of
common shares has been retroactively adjusted to reflect the 1 for 20 reverse
split approved in February, 1999 and the 100 for 1 forward split effected in
April, 1999.

        Estimates

        The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts 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.

         Recent Accounting Pronouncement

         SFAS No. 133, ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND HEDGING
ACTIVITIES requires companies to recognize all derivatives contracts as either
assets or liabilities in the balance sheet and to measure them at fair value. If
certain conditions are met, a derivative may be specifically designated as a
hedge, the objective of which is to match the timing of gain or loss recognition
on the hedging derivative with the recognition of (i) the changes in the fair
value of the hedged asset or liability that are attributable to the hedged risk
or (ii) the earnings effect of the hedged forecasted transaction. For a
derivative not designated as a hedging instrument, the gain or loss is
recognized in income in the period of change. SFAS No. 133 is effective for all
fiscal quarters of fiscal years beginning after June 15, 1999. We have not
entered into derivatives contracts either to hedge existing risks or for
speculative purposes. Accordingly, we do not expect adoption of the new standard
to have a material effect on our financial statements.

NOTE 2. COMMON STOCK

        Effective February 1, 1999, we effected a 1 for 20 reverse split of our
common stock.

                                       7


<PAGE>

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

NOTE 2. COMMON STOCK (continue)

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

NOTE 3. INCOME TAXES

        We have not recorded a provision for income taxes in the accompanying
financial statements because of the lack of certainty of the realization of the
benefit from the net operating losses incurred for tax reporting purposes.

        At September 30, 2002, we had a net operating loss carryover of
approximately $78,626, less a valuation allowance of the same amount.

        There was an ownership change in the Company during 1997, as defined in
Section 382 of the Internal Revenue Code. These changes will materially limit
the annual use of our net operating loss carry forward, based upon the change in
control.

NOTE 4. GOING CONCERN

        As shown in the accompanying financial statements, we are in the
development stage, have yet to generate operating revenues and will require a
significant amount of capital to commence our planned principal operations. As
reflected in the accompanying financial statements, we have incurred accumulated
losses since inception of $78,626 and have raised an insignificant amount of
capital. As such, there is no assurance that we will be successful in our
efforts to raise the necessary capital to commence our planned principal
operations.

        Our plans include a merger and a subsequent public offering of our
common stock; however there is no assurance that we will be successful in our
efforts to raise capital or to obtain a business combination.

        These conditions raise substantial doubt about our ability to continue
as a going concern. The financial statements do not include any adjustments that
might result from the outcome of these uncertainties.

                                       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 three month period ended
September 30, 2002, commenced active business operations. As of September 30,
2002 the Registrant had assets in the amount of $36, no liabilities, and the
total Shareholders' Equity was $36.

         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

                  NONE

         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.

         On February 22, 2001 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 Berkovitz and Company, P.A. to
Puritz & Weintraub, LLP and states there were no disagreements with Berkovitz
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 4, 2002

                                       12
<PAGE>
                                 CERTIFICATIONS

I, James Chow, certify that:

1.       I have reviewed this quarterly report on Form 10-Q of Yang Holding
         Company (registrant);

2.       Based on my knowledge, this quarterly report does not contain any
         untrue statement of a material fact or omit to state a material fact
         necessary to make the statements made, in light of the circumstances
         under which such statements were made, not misleading with respect to
         the period covered by this quarterly report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this quarterly report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this quarterly report;

4.       As sole officer of the registrant,I am responsible for establishing and
         maintaining disclosure controls and procedures (as defined in Exchange
         Act Rules 13a-14 and 15d-14) for the registrant and we have:

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

         b)       evaluated the effectiveness of the registrant's disclosure
                  controls and procedures as of a date within 90 days prior to
                  the filing date of this quarterly report (the "Evaluation
                  Date"); and

         c)       presented in this quarterly report our conclusions about the
                  effectiveness of the disclosure controls and procedures based
                  on our evaluation as of the Evaluation Date;

5.       As sole officer of the registrant I have disclosed, based on our most
         recent evaluation, to the registrant's auditors and the audit committee
         of registrant's board of directors (or persons performing the
         equivalent function):

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

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

6.       As sole officer of the registrant I have indicated in this quarterly
         report whether or not there were significant changes in internal
         controls or in other factors that could significantly affect internal
         controls subsequent to the date of our most recent evaluation,
         including any corrective actions with regard to significant
         deficiencies and material weaknesses.

November 6, 2002

/s/ James Chow
-------------------------
JAMES CHOW
President, Treasurer and
Secretary. Principal Financial and Accounting Officer.

                                       13
<PAGE>

                                 CERTIFICATIONS

                           CERTIFICATION PURSUANT TO
                            10 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                 SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

        In connection with the Quarterly Report of Yang Holding Company
("the Company") on Form 10-Q for the period ended September 30, 2002 as
filed with the Securities and Exchange Commission on the date hereof
(the "Report), I. James Chow, Principal Financial and Accounting
Officer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as
adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:

         (1)      The Report fully complies with the requirements of section
                  13(a) or 15(d) of the Securities Act of 1934; and


         (2)      The information contained in the Report fairly presents, in
                  all Material respects, the financial condition and result of
                  operation of the Company.




/s/ James Chow
---------------------------
James Chow
President, Treasurer and
Secretary. Principal Financial
and Accounting Officer.

November 6, 2002



                                       14