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


                                   FORM 10-QSB


                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended June 30, 2004, Commission File Number 333-72376


                           Webb Mortgage Depot, Inc.
        ---------------------------------------------------------
         (Exact name of Registrant as specified in its charter)


          Florida                             65-0902373
       ------------------------     -----------------------------------
      (State of Incorporation)      (I.R.S. Employer Identification
                                                  Number)


                  155 Wilson Lake Road, Mooresville, NC   28117
              ----------------------------------------------------
               (address of principal executive offices) (Zip Code)

     Registrant's telephone number, including area code: (800) 952-8706


                               N/A
       ----------------------------------------------------------------
       (Former name, address or fiscal year if changed since 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  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
                                ----------         ----------

     The total number of shares  outstanding of the issuer's common shares,  par
value $ .001, as of the date of this report, follow:

                            4,169,144


<PAGE>




PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements







                            Webb Mortgage Depot, Inc.


                          Interim Financial Statements

                                 June 30, 2004





































<PAGE>


WEBB MORTGAGE DEPOT, INC.
CONSOLIDATED INTERIM BALANCE SHEET
AS AT June 30 2004
(UNAUDITED)
<TABLE>

-------------------------------------------------------------------------------

                                                    2004          2003
-------------------------------------------------------------------------------
ASSETS
<S>                                                 <C>              <C>
CURRENT ASSETS

Cash and cash equivalents                            $  32,346      $  22,106
Interest receivable                                       -             5,655
Real estate held for resale                            620,098            -
Prepaid expenses and sundry assets                       2,662         37,864
-------------------------------------------------------------------------------

TOTAL CURRENT ASSETS                                   655,106         65,625
-------------------------------------------------------------------------------

PROPERTY AND EQUIPMENT, NET                             21,720          1,220
-------------------------------------------------------------------------------
OTHER ASSETS
Due from principal stockholder/officer                    -            86,915
-------------------------------------------------------------------------------

TOTAL OTHER ASSETS                                        -            86,915
------------------------------------------------------------------------------


TOTAL ASSETS                                        $  676,826     $  153,760
------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

WEBB MORTGAGE DEPOT, INC.
CONSOLIDATED INTERIM BALANCE SHEET
AS AT June 30 2004
(UNAUDITED)
<TABLE>
-------------------------------------------------------------------------------
                                                         2004           2003
-------------------------------------------------------------------------------

LIABILITIES AND STOCKHOLDERS' EQUITY
<S>                                                   <C>            <C>
CURRENT LIABILITIES
Bank indebtedness                                     $  52,662      $  51,769
Accounts payable                                         36,808         35,835
Mortgage payable - real estate held for resale          449,000            -
Due to director                                          37,003
-------------------------------------------------------------------------------

TOTAL CURRENT LIABILITIES                               575,473         87,604
-------------------------------------------------------------------------------

STOCKHOLDERS' EQUITY
Common stock, $ 001 par value, 25,000,000 authorized,
  issued and outstanding - 4,169,144( 2003 - 4,119,144)   4,169          4,119

Additional paid-in capital                            1,326,332      1,326,377

Accumulated deficit                                  (1,229,148)    (1,264,340)
-------------------------------------------------------------------------------

TOTAL STOCKHOLDERS' EQUITY                              101,353         66,156
-------------------------------------------------------------------------------

TOTAL LIABILITIES AND STOCKEHOLDERS' EQUITY          $  676,826      $ 153,760
-------------------------------------------------------------------------------
</TABLE>

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

<PAGE>


WEBB MORTGAGE DEPOT, INC.
CONSOLIDATED INTERIM STATEMENT OF OPERATIONS
FOR THE SIX MONTHS ENDED June 30 2004
(UNAUDITED)
<TABLE>

-------------------------------------------------------------------------------
                          Three Months Ended June 30, Six Months Ended June 30,
                                2004      2003          2004            2003
-------------------------------------------------------------------------------
<S>                        <C>        <C>            <C>            <C>
REVENUE                    $ 130,543  $  132,003      $ 213,647      $ 309,647
-------------------------------------------------------------------------------
EXPENSES
Management salary              7,500      17,500         15,000         35,000
Advertising                   10,195       6,159         38,891         19,394
Appraisals, titlework and
     surveys                   3,675       2,295          5,575          5,880
Commissions                   24,271      40,705         38,443         77,026
Credit reports                   720         197          1,503          3,990
Depreciation and amortization  1,537         102          2,594            204
General and administrative    12,970      44,015         32,735         73,231
Processing fees                2,027         475          8,492          1,054
Professional fees              9,352       7,175         10,552          4,845
Rent                           1,940       1,942          3,944          4,879
Telecommunications and
    utilities                  4,274       7,849          9,757         15,851
-------------------------------------------------------------------------------

TOTAL EXPENSES                78,461     128,414        167,486        241,254
-------------------------------------------------------------------------------

INCOME(LOSS) FROM OPERATIONS  52,082       3,589         46,161         68,293

OTHER ITEMS
Bank charges & loan interest    (932)     (1,100)        (1,919)        (3,047)
-------------------------------------------------------------------------------

TOTAL OTHER ITEMS               (932)     (1,100)        (1,919)        (3,047)
-------------------------------------------------------------------------------

NET INCOME                 $  51,150   $   2,489      $  44,242      $  65,246
-------------------------------------------------------------------------------

Weighted Average Number of
 Shares Outstanding
   Basic and Diluted       4,169,144  4,119,144       4,169,144      4,119,144
                           =========  =========       =========      =========
Earnings(loss) per share -
  basic and diluted       $      .01 $    0.00      $       .01     $     .016
                           =========  ========        =========      =========
</TABLE>




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

<PAGE>

WEBB MORTGAGE DEPOT, INC.
CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED June 30 2004
(UNAUDITED)
<TABLE>
-------------------------------------------------------------------------------

                                                         2004            2003
-------------------------------------------------------------------------------
<S>                                                   <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income(loss)                                      $  44,242      $  65,246
Adjustments to reconcile net income(loss) to net cash
 used in operating activities
  Depreciation and amortization                           2,594            204
  Stock issued for services                                -                10
Changes in assets and liabilities
  Increase in prepaid expenses                             -           (36,181)
  Increase(Decrease) in accounts payable                 22,671        (14,255)
-------------------------------------------------------------------------------

                                                         25,265       (50,222)
-------------------------------------------------------------------------------

NET CASH PROVIDED BY OPERATING ACTIVITIES                69,507         15,024
-------------------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES
  Increase in real estate held for resale(net)          (73,653)           -
  Acquisition of fixed assets                            (9,959)           -
-------------------------------------------------------------------------------

NET CASH USED IN INVESTING ACTIVITIES                   (83,612)           -
-------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES
Lines of credit                                            (359)          (839)
(Advances to)repayment by officer(net)                   16,553              -
-------------------------------------------------------------------------------
NET CASH USED IN FINANCING ACTIVITIES                    16,194           (839)
-------------------------------------------------------------------------------

Increase(decrease) in cash                                2,089         14,185


Cash and cash equivalents - beginning of period          30,257          7,921
-------------------------------------------------------------------------------

CASH AND CASH EQUIVALENTS - END OF PERIOD              $ 32,346      $  22,106
-------------------------------------------------------------------------------
</TABLE>

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

<PAGE>

WEBB MORTGAGE DEPOT, INC.
CONSOLIDATED INTERIM STATEMENT OF STOCKHOLDERS' EQUITY
FROM DECEMBER 31, 2000 TO June 30 2004
(UNAUDITED)
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>


                                                  Deficit
                                                Accumulated
                                     Additional  During the
                     Common Stock      Paid-In   Development
                Shares   Amount        Capital     Stage        Totals
<S>              <C>        <C>        <C>        <C>          <C>
Balance - December,
  31, 2000        3,369,144  $ 3,369   $ 941,083   $ (860,121)    $  84,331

Stock issued for
  services          200,000      200      99,800       -            100,000

Stock issued for
 cash, net          450,000      450     205,550       -            206,000

Services contributed
 by officer            -          -       76,435       -             76,435

Common stock options
 for services          -          -        3,599       -              3,599

Net loss for
  year                 -          -         -        (385,089)     (385,089)
                  ---------   -------   ---------    ---------     --------
Balance - December
       31, 2001   4,019,144 $  4,019   $1,326,467 $(1,245,210)    $  85,276

Net loss for
    year               -          -         -         (84,376)      (84,376)
                  ----------  -------   ---------    --------      --------

Balance - December
   31, 2002       4,019,144 $  4,019   $1,326,467 $(1,329,586)     $    900

Stock issued for
 services           150,000      150         (135)      -                15

Net income for
  Year                 -          -         -          56,196        56,196
                  ---------   ------    ---------   ---------       -------

Balance - December
   31, 2003       4,169,144 $  4,169   $1,326,332 $(1,273,390)    $  57,111

Net income for
  Period              -            -        -          44,242        44,242
                  ---------   ------    ---------   ---------       -------
Balance - June 30,
   2004           4,169,144 $  4,169   $1,326,332 $(1,229,148)    $ 101,353
                  =========  =======    =========  ==========       =======
</TABLE>




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

<PAGE>




                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 Jine 30, 2004
                                   (Unaudited)

Note 1   Organization and Summary of Significant Accounting
Policies

     (A) Organization

     Webb  Mortgage  Depot, Inc. ("Depot" or the  "Company")  was
     incorporated  in  the State of Florida on May  11,  1999  to
     implement a corporate reorganization.  On February 4,  2000,
     effective as of March 31, 2000, Depot acquired Webb Mortgage
     Corp.   and   Webb   Mortgage  Services   Corporation   (the
     "Acquirees").    The   acquisition   was   treated   as    a
     recapitalization   of   the   Acquirees.    Therefore,   the
     accompanying consolidated financial statements  reflect  the
     operations  of  Depot and its subsidiaries for  all  periods
     presented.

     Webb Mortgage Corp. was incorporated in the State of Florida
     on  June  19,  1992 and operated as a mortgage broker.   The
     Company holds a mortgage brokerage business license  in  the
     States of Florida, North Carolina, New York, and California.

     Webb  Mortgage Services Corporation was incorporated in  the
     State of Florida on February 25, 1998 and also operated as a
     mortgage brokerage.  Webb Mortgage Services Corporation held
     a  correspondent  mortgage lender license in  the  State  of
     Florida, which had not been renewed as of March 31, 2003.

     Since  December  31,  2001, Webb  Mortgage  Corp.  and  Webb
     Mortgage  Services,  Inc. were inactive  and  all  brokerage
     business was transacted through Depot.

     During  January  2002, the Company relocated  its  corporate
     headquarters to North Carolina.

     In  December 2002, the Company entered into a new segment of
     business  operations to purchase, develop, and  resell  real
     estate.   The Company's president contributed property  held
     personally  by him to pay down his promissory  note  to  the
     Company.  The Company then resold the property.  The Company
     intends   to   purchase,  develop,  and  resell   additional
     properties in the future.  The Company is in the process of
     completing a property in North Carolina.   The Company has just
     listed the property for sale.

     (B) Principles of Consolidation

     The  accompanying consolidated financial statements  include
     the accounts of Depot and its Subsidiaries.  All significant
     intercompany balances and transactions have been  eliminated
     in consolidation.

     In the opinion of management,  these interim financial  statements  include
all adjustments necessary in order to make them not misleading
<PAGE>


                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)
     (C) Use of Estimates

     The  preparation  of  consolidated financial  statements  in
     accordance  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  consolidated financial statements and the  reported
     amounts of revenue and expenses during the reporting period.
     Actual results could differ from those estimates.

     (D) Cash and Cash Equivalents

     For  purposes of the statements of cash flows,  the  Company
     considers all highly liquid debt instruments purchased  with
     an  original  maturity of three months or less  to  be  cash
     equivalents.

     (E) Concentrations

     The  Company  maintains its cash in bank  deposit  accounts,
     which  at  times may exceed federally insured  limits.   The
     Company  has not experienced any losses in such accounts  as
     of  March 31, 2004, and believes it is not exposed to any
     significant credit risk.

     As  a  result  of  such concentrations in  the  real  estate
     business,  the  entity is vulnerable to a  potential  severe
     impact  in  the  near-term with regard to  this  segment  of
     business.   Severe  impact  is  defined  as  the  effect  of
     disrupting  the  normal functioning of the  entity.   As  of
     March 31,  2003,  there have been no  events  that  have
     adversely effected the operations of the Company.

     (F) Property and Equipment

     Property  and  equipment are stated at cost and depreciation
     is  computed  using the declining balance  method  over  the
     estimated  economic useful life of 5 to 7 years.   Leasehold
     improvements on the lease, which was terminated in 2002, had
     been amortized using the straight-line method over the lease
     term  of  6  years.  Maintenance and repairs are charged  to
     expense as incurred.  Major improvements are capitalized.

     (G) Long-Lived Assets

     The   Company   reviews  long-lived   assets   and   certain
     identifiable  assets related to those assets for  impairment
     recognition  whenever  circumstances and  situations  change
     such  that there is an indication that the carrying  amounts
     may  not  be  recoverable.  If the undiscounted future  cash
     flows is less than the carrying amount, carrying amounts are
     reduced to fair value and an impairment loss is recognized.
<PAGE>

                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)

    (H) Revenue Recognition

     The  Company  collects broker fees on  loans  processed  and
     recognizes the revenues as earned when the loans are funded.
     Loans are funded on the closing date for purchase loans  and
     three days after the closing for refinance loans.

     In  accordance with SEC Staff Accounting Bulletin  No.  101,
     the   Company   recognizes   revenues   from   real   estate
     transactions since it takes title to the property,  acts  as
     principal  in the transaction, and maintains the  risks  and
     rewards of ownership.

     (I) Broker Commissions

     The Company pays a commission of approximately 40% to 50% of
     the  broker  fee  received  to  the  individual  broker  who
     processes  the loan.  The commission is generally paid  when
     the  loan  is funded, or within several days of the  funding
     date.

     (J) Stock-Based Compensation

     The  Company accounts for stock options issued to  employees
     in  accordance with the provisions of Accounting  Principles
     Board  ("APB") Opinion No. 25, "Accounting for Stock  Issued
     to   Employees,"  and  related  interpretations.   As  such,
     compensation  cost is measured on the date of grant  as  the
     excess  of the current market price of the underlying  stock
     over  the  exercise  price.  Such compensation  amounts  are
     amortized over the respective vesting periods of the  option
     grant.   The  Company adopted the disclosure  provisions  of
     SFAS No. 123, "Accounting for Stock-Based Compensation"  and
     SFAS  No.  148,  "Accounting for Stock Based Compensation  -
     Transition  and  Disclosure,"  which  permits  entities   to
     provide  pro forma net income (loss) and pro forma  earnings
     (loss)  per  share  disclosures for  employee  stock  option
     grants  as if the fair-valued based method defined  in  SFAS
     No. 123 had been applied.

     The  Company  accounts  for stock  options  issued  to  non-
     employees for goods or services in accordance with SFAS 123.



<PAGE>


                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)

     (K) Income Taxes

     Prior  to  the  reorganization  on  February  4,  2000  (the
     "reorganization  date"), the Company's current  subsidiaries
     were  S  Corporations under the Internal Revenue  Code.   In
     lieu  of paying corporate income taxes, the sole stockholder
     was  taxed  individually on his proportionate share  of  the
     Company's  taxable  income.  The parent  is  taxed  as  a  C
     Corporation since May 11, 1999 (inception) and accounts  for
     income  taxes under SFAS 109 (see below).  Effective on  the
     reorganization  date  the parent and  its  subsidiaries  are
     taxed as C Corporations.

     Since  February  4,  2000, the Company accounts  for  income
     taxes   under  the  Financial  Accounting  Standards   Board
     Statement   of  Financial  Accounting  Standards   No.   109
     "Accounting  for  Income  Taxes" ("Statement  109").   Under
     Statement  109,  deferred  tax assets  and  liabilities  are
     recognized  for the future tax consequences attributable  to
     differences between the financial statement carrying amounts
     of  existing assets and liabilities and their respective tax
     bases.   Deferred  tax assets and liabilities  are  measured
     using  enacted tax rates expected to apply to taxable income
     in  the  years  in  which  those temporary  differences  are
     expected  to be recovered or settled.  Under Statement  109,
     the  effect  on  deferred tax assets and  liabilities  of  a
     change  in tax rates is recognized in income in the  period,
     which includes the enactment date.

     (M) Net Income(Loss) Per Common Share

     Basic  net  income  (loss)  per  common  share  (Basic  EPS)
     excludes  dilution and is computed by  dividing net   income
     (loss)  available to  common  stockholder by  the  weighted-
     average number of  common  shares outstanding for the period.
     Diluted  netincome  per  share  (Diluted  EPS)  reflects  the
     potential dilution  that  could  occur  if  stock  options or
     other
     contracts  to issue common stock were exercised or converted
     into  common  stock  or resulted in the issuance  of  common
     stock  that then shared in the earnings of the Company.   At
     June 30, 2004 and 2003, the assumed exercise of  common
     stock  equivalents  was not utilized since  the  effect  was
     antidilutive due to the net losses.  At June 30,  2004,
     there  were 300,000 common stock options outstanding,  which
     could potentially dilute future earnings per share.


<PAGE>


                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)

     (M) New Accounting Pronouncements

     The Financial Accounting Standards Board has recently issued
     several  new accounting pronouncements, which may apply,  to
     the Company.

     Statement   No.  141  "Business  Combinations"   establishes
     revised  standards for accounting for business combinations.
     Specifically,  the statement eliminates the pooling  method,
     provides  new  guidance  for recognizing  intangible  assets
     arising  in a business combination, and calls for disclosure
     of   considerably   more  information   about   a   business
     combination.   This  statement  is  effective  for  business
     combinations  initiated  on or  after  July  1,  2001.   The
     adoption of this pronouncement on July 1, 2001 did not  have
     a  material  effect  on  the Company's  financial  position,
     results of operations or liquidity.

     Statement  No.  142  "Goodwill and Other Intangible  Assets"
     provides  new  guidance concerning the  accounting  for  the
     acquisition  of  intangibles, except  those  acquired  in  a
     business combination, which is subject to SFAS 141, and  the
     manner in which intangibles and goodwill should be accounted
     for  subsequent  to  their initial recognition.   Generally,
     intangible  assets with indefinite lives, and goodwill,  are
     no  longer amortized; they are carried at lower of  cost  or
     market  and  subject  to  annual impairment  evaluation,  or
     interim impairment evaluation if an interim triggering event
     occurs,  using  a new fair market value method.   Intangible
     assets  with  finite lives are amortized over  those  lives,
     with  no  stipulated  maximum, and  an  impairment  test  is
     performed  only  when  a  triggering  event  occurs.    This
     statement is effective for all fiscal years beginning  after
     December  15,  2001.  The adoption of this pronouncement  on
     January  1,  2002  did  not have a material  effect  on  the
     Company's  financial  position,  results  of  operations  or
     liquidity.

     In  August  2001, the FASB issued SFAS No. 143,  "Accounting
     for  Asset  Retirement Obligations."  The standard  requires
     entities  to  record the fair value of a  liability  for  an
     asset  retirement obligation in the period in  which  it  is
     incurred.   When  the liability is initially  recorded,  the
     entity  capitalizes a cost by increasing the carrying amount
     of  the  related long-lived asset.  Over time, the liability
     is  accreted  to  its  present value each  period,  and  the
     capitalized cost is depreciated over the useful life of  the
     related asset.  Upon settlement of the liability, an  entity
     either  settles  the obligation for its recorded  amount  or
     incurs  a  gain  or loss upon settlement.  The  standard  is
     effective  for fiscal years beginning after June  15,  2002.
     The  adoption  of  SFAS No. 143 is not expected  to  have  a
     material impact on the Company's financial position, results
     of operations, or liquidity.
<PAGE>

                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)

     Statement No. 144 "Accounting for the Impairment or Disposal
     of  Long-Lived Assets"        supercedes Statement  No.  121
     "Accounting for the Impairment of Long-Lived Assets and  for
     Long-Lived    Assets    to   be   Disposed    of"     ("SFAS
     121").    Though   it   retains    the   basic
     requirements of SFAS 121 regarding when and how  to  measure
     an   impairment   loss,   SFAS   144   provides   additional
     implementation  guidance.  SFAS 144  excludes  goodwill  and
     intangibles  not  being  amortized among  other  exclusions.
     SFAS   144  also  supercedes  the  provisions  of  APB   30,
     "Reporting   the  Results  of  Operations,"  pertaining   to
     discontinued   operations.    Separate   reporting   of    a
     discontinued  operation  is still  required,  but  SFAS  144
     expands  the  presentation  to include  a  component  of  an
     entity,  rather than strictly a business segment as  defined
     in SFAS 131, Disclosures about Segments of an Enterprise and
     Related  Information.  SFAS 144 also eliminates the  current
     exemption to consolidation when control over a subsidiary is
     likely to be temporary.  This statement is effective for all
     fiscal  years  beginning  after  December  15,  2001.    The
     adoption  of this pronouncement on January 1, 2003  did  not
     have  a material effect on the Company's financial position,
     results of operations or liquidity.

     Statement No. 145, "Rescission of FASB Statements No. 4, 44,
     and  64,  Amendment of FASB Statement No. 13, and  Technical
     Corrections,"   ("SFAS   145")   updates,   clarifies,   and
     simplifies  existing  accounting pronouncements.   Statement
     No.  145 rescinds Statement 4, which required all gains  and
     losses from extinguishment of debt to be aggregated and,  if
     material,  classified  as  an  extraordinary  item,  net  of
     related  income  tax effect.  As a result, the  criteria  in
     Opinion  30  will  now be used to classify those  gains  and
     losses.  Statement 64 amended Statement 4, and is no  longer
     necessary because Statement 4 has been rescinded.  Statement
     44  was issued to establish accounting requirements for  the
     effects of transition to the provisions of the motor Carrier
     Act  of  1980.   Because the transition has been  completed,
     Statement  44 is no longer necessary.  Statement 145  amends
     Statement  13  to  require that certain lease  modifications
     that   have   economic  effects  similar  to  sale-leaseback
     transactions  be accounted for in the same manner  as  sale-
     leaseback  transactions.  This amendment is consistent  with
     FASB's  goal  requiring  similar  accounting  treatment  for
     transactions  that  have  similar  economic  effects.   This
     statement is effective for fiscal years beginning after  May
     15,  2002.  The adoption of SFAS 145 is not expected to have
     a  material  impact  on  the Company's  financial  position,
     results of operations or liquidity.

<PAGE>

                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)

     Statement   No.  146,  "Accounting  for  Exit  or   Disposal
     Activities"   ("SFAS   146")  addresses   the   recognition,
     measurement, and reporting of cost that are associated  with
     exit  and  disposal activities that are currently  accounted
     for  pursuant  to  the guidelines set forth  in  EITF  94-3,
     "Liability  Recognition  for  Certain  Employee  Termination
     Benefits  and  Other  Costs to exit an  Activity  (including
     Certain Cost Incurred in a Restructuring)," cost related  to
     terminating a contract that is not a capital lease and  one-
     time  benefit  arrangements received by  employees  who  are
     involuntarily  terminated - nullifying  the  guidance  under
     EITF 94-3.  Under SFAS 146, the cost associated with an exit
     or  disposal activity is recognized in the periods in  which
     it is incurred rather than at the date the Company committed
     to  the exit plan.  This statement is effective for exit  or
     disposal  activities initiated after March 31, 2003  with
     earlier application encouraged.  The adoption of SFAS 146 is
     not  expected  to  have a material impact on  the  Company's
     financial position, results of operations or liquidity.

     Statement    No.    148,   "Accounting    for    Stock-Based
     Compensation-Transition   and   Disclosure",   amends   FASB
     Statement    No.   123,     "Accounting   for    Stock-Based
     Compensation."     In  response  to  a  growing  number   of
     companies announcing plans to record expenses for  the  fair
     value  of  stock options, Statement 148 provides alternative
     methods  of  transition for a voluntary change to  the  fair
     value   based        method      of       accounting     for
     stock-based    employee     compensation.     In
     addition,  Statement 148 amends the disclosure  requirements
     of Statement 123 to require more prominent and more frequent
     disclosures  in  financial statements about the  effects  of
     stock-based  compensation.  The Statement also improves  the
     timeliness  of  those  disclosures by  requiring  that  this
     information  be  included  in  interim  as  well  as  annual
     financial statements.  In the past, companies were  required
     to  make  pro  forma  disclosures only in  annual  financial
     statements.   The transition guidance and annual  disclosure
     provisions  of Statement 148 are effective for fiscal  years
     ending  after  December 15, 2002, with  earlier  application
     permitted  in certain circumstances.  The interim disclosure
     provisions  are  effective for financial reports  containing
     financial  statements  for interim periods  beginning  after
     December  15,  2002.   The  Company adopted  the  disclosure
     provisions of Statement 148 for the year ended December  31,
     2002,  but will continue to use the method under APB  25  in
     accounting   for  stock  options.   The  adoption   of   the
     disclosure  provisions  of Statement  148  did  not  have  a
     material impact on the Company's financial position, results
     of operations or liquidity.

<PAGE>


                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)



     (P) Segment Reporting

     The  Company complies with SFAS No. 131, "Disclosures  about
     Segments  of an Enterprise and Related Information."   Based
     upon  definitions contained within SFAS No. 131, the Company
     has  determined  that it operates in two segments;  mortgage
     brokerage and real estate development.






<PAGE>



                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)



Note 2   Property and Equipment

Property and equipment consists of the following at June 30,
2004 and 2003:

                                         2004      2003
                                       --------  --------
     Leasehold improvements            $ 26,936  $    -
     Computers and equipment              3,257     3,257
                                       --------  --------
                                         30,193     3,257
     Less: Accumulated depreciation      (8,473)   (2,037)
                                       --------  --------
     Property and Equipment, net       $ 21,720  $  1,220

Depreciation  expense for the quarters ended June 30,  2004  and
2003 was $1,537 and $102, respectively.

Note 3   Lines of Credit

The  Company maintained an overdraft credit line with a bank  for
funds up to $5,000.  The principal amount is due on demand.   The
line bears interest at prime plus 3% (8% and 7.75% as of June 30,
2004 and 2003, respectively).  Amounts outstanding, including
accrued  interest at June 30, 2004 and 2003 were $4,384,  and
$4,360, respectively.

The  Company maintains a $50,000 line of credit with a bank.  The
line bears interest at prime plus 3% (7.25% and 7.75% at June 30
30,  2004 and 2003, respectively).  The loan is due on demand and
is  secured by all assets of the Company with a guarantee by  the
president of the Company.  Amounts outstanding including  accrued
interest  at June 30, 2004 and 2003 were $48,279 and $48,412,
respectively.  (See Note 9)

Note 4   Stockholders' Equity

     (A) Common Stock

     During   January  and  February  2001,  the  Company  raised
     $206,000,  net  of  offering costs of $19,000,  for  450,000
     common  shares pursuant to a private placement  offering  at
     $0.50 per share.






                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)

Note 4   Stockholders' Equity(continued)

     In  July  2001,  the  Company granted an  aggregate  200,000
     common   shares  to  an  investment-banking  firm,   to   an
     individual  related  to  that firm for  consulting  services
     rendered, and terminated its relationship with those parties
     by  obtaining  general releases from any future obligations.
     The shares were valued at the recent cash-offering price  of
     $0.50  per share or an aggregate $100,000, which was charged
     to consulting expense in July 2001.


Note 5   Employment Agreement and Related Amendment

The  Company  entered  into  an employment  agreement,  effective
January 1, 2000, with its president to pay him $135,000 per  year
with  annual  10% increase and a bonus of 1% of gross  commission
revenues  plus  additional bonuses as stipulated.  The  president
may also receive stock options to acquire 1,000,000 common shares
at  $3.00  per  share  based on the Company achieving  stipulated
revenue  milestones.  No options were issued as of  December  31,
2001.

The  president's January 1, 2000 employment agreement was amended
and restated on February 15, 2002 to reduce the annual salary  to
$75,000  effective January 1, 2002 and to remove  all  commission
and  revenue bonuses during the remaining term of the  agreement.
(See Note 8)

Note 6   Commitments

     (A) Operating Lease

     On  January  24, 2001, effective June 1, 2001,  the  Company
     entered  into  a three year office lease agreement  for  its
     North  Carolina  office.  Annual rent  is  $11,298,  payable
     monthly,  with a 4% annual increase. Future minimum lease
     payments as of  June 30, 2004 are as follows:

        2004      $    2,910


<PAGE>



                   Webb Mortgage Depot, Inc. and Subsidiaries
               Notes to Consolidated Interim Financial Statements
                                 June 30, 2004
                                   (Unaudited)

Note 7   Related Parties


The  Company's  president personally guarantees all  amounts  due
under the line of credit (see Note 4).

The  Company  entered  into  an  employment  agreement  with  its
president (see Note 5).

Note 8  Income Taxes

There was no income tax during the quarters ended June 30, 2004 and
2003 due to the Company's  accumulated  net losses.

The Company has a net operating  loss  carry forward  of  approximately.
$500,000 available to offset future taxable income through 2022.

Note 9  Going Concern

As reflected in the accompanying consolidated interim financial statements,  the
Company  has a net income of  $ 44,242  in  2004,  an  accumulated  deficit  of
$1,229,148  at June 30, 2004,  cash  provided by operations of $69,507 in 2004,
and  working  capital of $47,286 at June 30, 2004.  The ability of
the Company to continue as a going concern is dependent on the Company's ability
to  generate  future  profits  or raise  additional  capital.  The  consolidated
financial  statements do not include any adjustments  that might be necessary if
the Company is unable to continue as a going concern.

     Management  has cut its  operating  expenses  since  January 1,  2002.  The
Company has also entered a new business segment, real estate development and has
begun to generate  revenue from this  segment.  The Company  intends to meet its
obligations from generating income from operations. Management believes that the
actions  presently  being  taken  provide  the  opportunity  for the  Company to
continue as a going concern.











<PAGE>





Item 2 - Management's Discussion and Analysis of Financial Conditions
          and Results of Operations

     THE  FOLLOWING  DISCUSSION OF THE RESULTS OF OUR  OPERATIONS  AND FINANCIAL
CONDITION  SHOULD BE READ IN CONJUNCTION  WITH OUR FINANCIAL  STATEMENTS AND THE
NOTES  THERETO  INCLUDED  ELSEWHERE  IN THIS REPORT.  EXCEPT FOR THE  HISTORICAL
INFORMATION  CONTAINED HEREIN, THE DISCUSSION  CONTAINED IN THIS REPORT CONTAINS
"FORWARD-LOOKING   STATEMENTS"  THAT  INVOLVE  RISK  AND  UNCERTAINTIES.   THESE
STATEMENTS MAY BE IDENTIFIED BY THE USE OF  FORWARD-LOOKING  TERMINOLOGY SUCH AS
"BELIEVES,"  "EXPECTS," "MAY," "WILL," "SHOULD" OR "ANTICIPATES" OR THE NEGATIVE
THEREOF OR SIMILAR  EXPRESSIONS OR BY  DISCUSSIONS  OF STRATEGY.  THE CAUTIONARY
STATEMENTS MADE IN THIS REPORT SHOULD BE READ AS BEING APPLICABLE TO ALL RELATED
FORWARD-LOOKING  STATEMENTS  WHEREVER  THEY  APPEAR IN THIS  REPORT.  OUR ACTUAL
RESULTS COULD DIFFER MATERIALLY FROM THOSE DISCUSSED IN THIS REPORT.

Results of Operations

     For the six months ended June 30 2004 the company has become  profitable in
that it had net income of $ 42,242  compared with net income in 2003 of$ 65,246.
The  decrease  in  profitability  and  revenues  is mainly  due to the fact that
management  has  spent a larger  portion  of their  time in  supervision  of the
construction of the property on Grayrock Road.

     The Company has  continued  its cost cutting ways as expenses  have dropped
from $ 167,486 for the six months  ended June 30, 2004  compared  with $ 241,254
for the same period in 2003.  The largest  part of this  relates to  commissions
which  was $ 38,443  for  2004  versus $  77,026  in 2003  and for  general  and
administrative expenses which dropped from $ 73,231 in 2003 to $ 32,735 in 2004.

     Credit report fees have decreased from $ 3,990 to $ 1,503 from 2003 to 2004
in accordance with the decreased volume of revenues generated in the six months.



     Professional  fees have increased from $ 4,845 in 20032 to $ 10,552 in 2004
mainly due to some  underaccruals  in 2003  otherwise the expense for 2004 would
have been $ 4,300.


Liquidity and Capital Resources

     Since inception,  we have funded operations primarily through our brokerage
business,  net cash  proceeds  from  private  offerings  of our common stock and
through our line of credit with Union  Planters  Bank,  N.A. At June 30 2004, we
had cash and cash  equivalents of $32,346 as compared to the year ended December
31, 2003 which was $ 30,257 and our  shareholders  equity for the quarter  ended
June 30 2004 was $101,352 as compared to the year ended  December 31, 2003 which
was $ 57,111. We expect our cash on hand to last for the next two (2) months. If
cash generated from  operations in future periods is insufficient to satisfy our
liquidity  requirements,  we may sell additional  equity or debt securities,  or
obtain  additional  credit  facilities.  The  issuance of  additional  equity or
convertible  debt  securities  could  result  in  additional   dilution  to  our
shareholders.

     Net cash provided from  operating  activities  during six months ended June
30,  2004 was $ 69,507  which was mainly due to the net income for the period of
$44,242  compared to net cash used in  operating  activities  for the year ended
December 31 2003 which was $68,463,  which was primarily due monies spent on the
property on Grayrock Road.


     As of  June  30,  2003,  we  had  net  operating  loss  carry  forwards  of
approximately $500,000 available to offset future taxable income through 2022.

ITEM 3.  CONTROLS AND PROCEDURES

     Within 90 days prior to the date of this report under the  supervision  and
participation  of certain  members of the  Company's  management,  including the
President,  the Company  completed an  evaluation  of the  effectiveness  of the
design and operation of its  disclosure  controls and procedures ( as defined in
Rules  13a - 14 and  15d - 14c to  the  Securities  Exchange  Act  of  1934,  as
amended).  Based on this evaluation,  the Company's  President believes that the
disclosure  controls  and  procedures  are  effective  with  respect  to  timely
communicating to them and other members of management  responsible for preparing
periodic  reports all  material  information  required to be  disclosed  in this
report as it relates to the Company.

                          PART II - OTHER INFORMATION
                         ------------------------------

Item 1 - Legal Proceedings

There are no legal proceedings at this time.

Item 2 - Change in Securities

     In  February  2004,  100,000  shares of  restricted  stock was  issued  for
services rendered.

Item 3 - Defaults Upon Senior Securities

Not applicable

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

None

Item 5 - Other Information

The registrant has changed its head office to 155 Wilson Lake Road, Mooresville,
NC 28117 and has maintained the same telephone number.

Item 6 - Exhibits and Reports on Form 8-K

         Exhibit 11     - Computation of earnings per common share - see
                           Statement of Operations

         Exhibits 31 & 32 Certifications by Byron J. Webb, President,
                          pursuant to Section 906 of the Sorbanes-Oxley
                          Act of 2002.





         Reports on Form 8-K - None


<PAGE>








                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, The
Registrant has duly caused this report to be signed by the undersigned thereunto
duly authorized.


Webb Mortgage Depot, Inc.


BY: /s/ Byron J. Webb
   ---------------------------
   Byron J. Webb, President


Dated:  August 12, 2004.



<PAGE>


                                                             Exhibit 31.1

                           CERTIFICATION PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
                            (18 U.S.C. SECTION 1350)




I, Byron J Webb, certify that;


     1. I have  reviewed this  quarterly  report on Form 10-QSB of Webb Mortgage
Depot, Inc.

     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
registration as of, and for, the periods presented in this quarterly report;

     4. 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 have:

     a) designed such disclosure  controls and procedure 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. 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 functions):

     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

<PAGE>

     6. I have indicated in this
quarterly report whether 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.





                                       /s/ Byron J. Webb
                           ---------------------------------------------
                                        Byron J. Webb
                                         President





August 12, 2004







                                                                    EXHIBIT 32.1

                            CERTIFICATION PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
                            (18 U.S.C. SECTION 1350)



     In connection  with the Quarterly  Report of Webb Mortgage  Depot,  Inc., a
Florida corporation (the "Company"),  on Form 10-QSB for the quarter ending June
30, 2004 as filed with the Securities and Exchange Commission (the "Report"), I,
Byron Webb President & CEO, of the Company,  certify, pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350), that to my knowledge:

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

     2. The information contained in the Report fairly presents, in all material
respects, the financial condition and result of operations of the Company.



                                            /s/ Byron Webb
                             -------------------------------------------
                                             Byron Webb
                                             President & CEO


August 12, 2004.

<PAGE>