SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 1O-QSB


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

                  For the quarterly period ended June 30, 2000

                                       OR

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

         For the transition period from _____________ to ______________

                         Commission File Number: 0-29743


                          TRANSAMERICAN HOLDINGS, INC.
             (Exact name of Registrant as Specified in its Charter)


                NEVADA                                       77-0434471
   ----------------------------                    ---------------------------
   (State or other jurisdiction                    (IRS Identification Number)
         of incorporation)

                             9601 Wilshire Boulevard
                                    Suite 620
                             Beverly Hills, CA 90210
                                 (310) 271-4159
   ------------------------------------------------------------------------
        (Address,     including  zip code,  and  telephone  number,
                      including   area   code,   of    Registrant's
                      principal executive offices)
 ------------------------------------------------------------------------------

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

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock as the latest practicable date: As of June 30, 2000

                           15,949,090  shares of Common  Stock,  $.001 par value
per share.

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



                                       1
<PAGE>



                           TRANSAMERICAN HOLDINGS,INC.

                                      INDEX

Part I.   Financial Information..............................................3
   Item 1.   Financial Statements............................................3
                    Balance Sheets...........................................3
                    Statements of Operations.................................4
                    Statement of Changes in Stockholders' Equity.............5
                    Statement of Cash Flows..................................7
                    Notes to Financial Statements............................8
   Item 2 - Management's Discussion and Analysis of Financial Condition
   and Results of Operation.................................................12
Part II.   Other Information................................................13
   Item 1     Legal Proceedings.............................................13
   Item 2     Changes in the Rights of the Company's Security Holders.......13
   Item 3     Defaults by the Company on its Senior Securities..............13
   Item 4     Results of Votes of Security Holders..........................13
   Item 5     Other Information.............................................13
   Item 6     Exhibits and Reports on Form 8-K..............................13
Signatures..................................................................13









                                       2
<PAGE>


PART I.   FINANCIAL INFORMATION

Item 1.   Financial Statements

                                 BALANCE SHEETS

                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)
<TABLE>
<CAPTION>
                                                 June 30,       December31,       December 31,
                                                 2000           1999              1998
CURRENT ASSETS                              ------------------------------------------------
<S>                                         <C>                   <C>               <C>
     Cash                                   $1,286,362            $    0            $   0
                                            ----------            ------            -----
TOTAL CURRENT ASSETS                        $1,286,362            $    0            $   0
                                            ----------            ------            -----
OTHER ASSETS
     Deposits                               $   10,000            $    0            $   0
                                            ----------            ------            -----
TOTAL OTHER ASSETS                          $   10,000            $    0            $   0
                                            ----------            ------            -----
TOTAL ASSETS                                $1,296,362            $    0            $   0
                                            ----------            ------            -----

                      LIABILITIES AND STOCKHOLDERS' EQUITY
                                                 June 30,       December31,       December 31,
                                                 2000           1999              1998
CURRENT LIABILITIES                         ------------------------------------------------
     Advances Payable (Note #5)             $   10,000            $    0            $   0
                                            ----------            ------            -----
     TOTAL CURRENT LIABILITIES              $   10,000            $    0            $   0
                                            ----------            ------            -----
STOCKHOLDERS' EQUITY (Note #4)

     Common stock, $1.00 par value
     Authorized 25,000 shares
     Issued and outstanding at
     December 31, 1998 -5,000 shares                                               $5,000

     Common  stock,  $.001 par value
     Authorized  100,000,000  shares Issued and
     outstanding at December 31, 1999 -
     11,300,000 shares                                           $11,300

     June 30, 2000 -
     15,949,090 shares                      $   15,949

     Additional Paid-In Capital              1,368,896             3,000                0

     Deficit accumulated during
     the development stage                  $  -98,483           $-5,100          $-5,000
                                            ----------           -------          -------
TOTAL STOCKHOLDERS' EQUITY                  $1,286,362           $ 9,200          $-3,025
                                            ----------           -------          -------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY                        $1,296,362           $ 9,200          $     0
                                            ----------           -------          -------
</TABLE>
    The accompanying notes are in integral part of these Financial Statements.

                                       3
<PAGE>


                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)

                             STATEMENT OF OPERATIONS
<TABLE>
<CAPTION>
                                                Jan. 1,            Year             Year          Jul.22, 1996
                                               2000, to            Ended            Ended          (Inception)
                                               June 30,          Dec. 31,         Dec. 31,         to June 30,
                                                 2000              1999             1998              2000
                                                 ----              ----             ----              ----
<S>                                         <C>                <C>              <C>               <C>
INCOME
Revenue                                     $             0    $           0    $            0    $           0
                                            ---------------    -------------    --------------    -------------

EXPENSES

General, Selling and
Administrative                              $        95,354    $         100    $            0    $     100,454
                                            ---------------    -------------    --------------    -------------


         TOTAL EXPENSES                     $        95,354    $         100    $            0    $     100,454
                                            ---------------    -------------    --------------    -------------


NET PROFIT/LOSS (-)
From Operations                             $       -95,354    $        -100    $            0    $    -100,454

Interest Income                                      +1,971                0                 0           +1,971
                                            ---------------    -------------    --------------    -------------

Net Loss                                    $       -93,383    $        -100    $            0    $     -98,483
                                            ---------------    -------------    --------------    -------------

Net Loss per share -
 Basic and diluted
 (Note #2)                                  $        -.0071    $         NIL    $          NIL    $      -.0264
                                            ---------------    -------------    --------------    -------------

Weighted average
number of common
shares outstanding                               13,071,976        3,352,603         2,000,000        3,733,144
                                            ---------------    -------------    --------------    -------------
</TABLE>



    The accompanying notes are an integral part of these Financial Statements.


                                       4
<PAGE>


                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)

                  STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
<TABLE>
<CAPTION>
                                                                         Additional         Accumu-
                                                 Common Stock            paid-in            lated
                                            Shares          Amount       Capital            Deficit
                                          ------------   ------------    -------------      ---------------
<S>                                       <C>            <C>             <C>                <C>
Balance,
December 31, 1997                                5,000   $      5,000    $           0      $        -5,000

Net loss year ended
December 31, 1998                                                                                         0
                                          ------------   ------------    -------------      ---------------

Balance,
December 31, 1998                                5,000   $      5,000    $           0      $        -5,000

January 25, 1999
Changed par value
From $1.00 to $.001                                            -4,995            4,995

October 30, 1999
Forward stock split
400:1                                        1,995,000          1,995           -1,995

November 1, 1999
Issued common stock
For services                                   100,000            100

November 9, 1999
Issued common stock
for cash                                     9,200,000          9,200

Net loss year ended
December 31, 1999                                                                                      -100
                                          ------------   ------------    -------------      ---------------
Balance,
December 31, 1999                           11,300,000   $     11,300    $       3,000      $        -5,100
                                          ------------   ------------    -------------      ---------------
</TABLE>





    The accompanying notes are an integral part of these Financial Statements.


                                       5
<PAGE>


                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)


            STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Continued)

<TABLE>
<CAPTION>
                                                                         Additional         Accumu-
                                                 Common Stock            paid-in            lated
                                            Shares          Amount       Capital            Deficit
                                          ------------   ------------    -------------      ---------------
<S>                                       <C>            <C>             <C>                <C>
Balance Brought Forward
Balance,
December 31, 1999                           11,300,000   $     11,300    $       3,000      $        -5,100

March 15, 2000
Issued common stock
for cash                                     1,095,090          1,095          296,450
Issued common stock
for services                                   350,000            350            3,150

April 15, 2000
Issued common stock
for cash                                       454,000            454          226,546

May 15, 2000
Issued common stock
for cash                                     2,400,000          2,400          697,600

June 15, 2000
Issued common stock
for cash                                       350,000            350          142,150

Net loss
January 1, 2000 to
June 30, 2000                                                                                       -93,383
                                          ------------   ------------    -------------      ---------------
Balance,
June 30, 2000                               15,949,090   $     15,949    $   1,368,896      $       -98,483
                                          ------------   ------------    -------------      ---------------
</TABLE>








    The accompanying notes are an integral part of these Financial Statements.


                                       6
<PAGE>

                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)

                             STATEMENT OF CASH FLOWS
<TABLE>
<CAPTION>
                                                Jan. 1,             Year              Year           Jul.22, 1996
                                               2000, to             Ended             Ended           (Inception)
                                               June 30,           Dec. 31,          Dec. 31,          to June 30,
                                                 2000               1999              1998               2000
                                                 ----               ----              ----               ----
<S>                                          <C>             <C>              <C>               <C>
Cash Flows from
Operating Activities

     Net Loss                                $      -93,383  $          -100  $              0  $       -98,483

     Adjustment to
     Reconcile net loss
     To net cash provided
     by operating
     Activities
     Issue common stock
     For services                                     3,500              100                 0            8,600

Changes in assets and
Liabilities

     Increase in current
     Assets                                         -10,000                0                 0          -10,000

     Increase in current
     Liabilities                                     10,000                0                 0           10,000
                                             --------------  ---------------  ----------------  ---------------
Net cash used in
Operating activities                         $      -89,883  $             0  $              0  $       -89,883

Cash Flows from
Investing Activities                                                       0                 0                0

Cash Flows from
Financing Activities

     Issuance of Common
     Stock for Cash                               1,367,045            9,200                 0        1,376,245
                                             --------------  ---------------  ----------------  ---------------
Net Increase (decrease)                      $    1,277,162  $         9,200  $              0  $     1,286,362

Cash,
Beginning of period                                   9,200                0                 0                0
                                             --------------  ---------------  ----------------  ---------------
Cash, End of Period                          $    1,286,362  $         9,200  $              0  $     1,286,362
                                             --------------  ---------------  ----------------  ---------------
</TABLE>

   The accompanying notes are in integral part of these Financial Statements.

                                       7
<PAGE>


                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)


                          NOTES TO FINANCIAL STATEMENTS

             June 30, 2000, December 31, 1999, and December 31, 1998


NOTE #1 - HISTORY AND ORGANIZATION OF THE COMPANY

         The Company was organized July 22, 1996, under the laws of the State of
         Nevada as Health Research, LTD. The Company currently has no operations
         and in accordance with SFAS #7, is considered a development company. On
         November 15, 1999, the Company  changed its name from HEALTH  RESEARCH,
         LTD., to TRANSAMERICAN HOLDINGS, INC.

NOTE #2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         Accounting Method

                  The Company records income and expenses on the accrual method.

         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 revenue and  expenses  during the
                  reporting  period.  Actual  results  could  differ  from those
                  estimates.

         Cash and equivalents

                  The Company maintains a cash balance in a non-interest-bearing
                  bank.  For the purpose of the  statements  of cash flows,  all
                  highly liquid investments with the maturity of three months or
                  less are considered to be cash equivalents.  There are no cash
                  equivalents as of June 30, 2000. Also, the Company, as of June
                  30, 2000, has funds in a savings  account and short-term  time
                  deposits.

         Income Taxes

                  Income taxes are provided  for using the  liability  method of
                  accounting   in   accordance   with   Statement  of  Financial
                  Accounting  Standards  No.  109 (SFAS  #109)  "Accounting  for
                  Income  Taxes".  A deferred tax asset or liability is recorded
                  for  all  temporary   difference  between  financial  and  tax
                  reporting. Deferred tax expense (benefit) results from the net
                  change during the year of deferred tax assets and liabilities.

                                       8
<PAGE>

                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

             June 30, 2000, December 31, 1999, and December 31, 1998

NOTE #2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

         Loss Per Share

                  Net loss per share is provided in accordance with Statement of
                  Financial  Accounting  Standards No. 128 (SFAS #128) "Earnings
                  Per  Share".  Basic  loss per share is  computed  by  dividing
                  losses  available  to  common  stockholders  by  the  weighted
                  average number of common shares outstanding during the period.
                  Diluted loss per share  reflects per share  amounts that would
                  have resulted if dilative  common stock  equivalents  had been
                  converted to common  stock.  As of June 30, 2000,  the Company
                  had  no  dilative  common  stock  equivalents  such  as  stock
                  options.

         Year End

            The Company has selected December 31st as its year-end.

         Year 2000 Disclosure

            The Y2K issue had no effect on this Company.

         Policy in Regards to Issuance of Common Stock in a Non-Cash Transaction

            The  Company's  accounting  policy for issuing  shares in a non-cash
            transaction is to issue the equivalent  amount of stock equal to the
            fair market value of the assets or services received.

NOTE #3 - INCOME TAXES

         There is no  provision  for income  taxes for the period ended June 30,
         2000.

         The  Company's  total  deferred tax asset as of December 31, 1999 is as
         follows:

                 Net operation loss carry forward        $    5,100
                 Valuation allowance                     $    5,100

                 Net deferred tax asset                  $        0

         The federal net  operation  loss  carry-forward  will expire in various
         amounts from 2016 to 2019.

         This carry forward may be limited upon the  consummation  of a business
         combination under IRC Section 381.

                                       9
<PAGE>

                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

             June 30, 2000, December 31, 1999, and December 31, 1998

NOTE #4 - STOCKHOLDERS' EQUITY

         COMMON STOCK

         The authorized common stock of the corporation  consists of 100,000,000
         shares with par value of $.001.

         PREFERRED STOCK

         The corporation has no preferred stock.

         On July 30, 1996, the Company  issued 5,000 shares of its  no-par-value
         common stock, in consideration of $5,000 in cash.

         On  January  25,  1999,  the State of  Nevada  approved  the  Company's
         restated Articles of Incorporation,  which increased its capitalization
         from 25,000 common shares with no-par-value stock to 100,000,000 common
         shares with $0.001 par value stock.

         On October 30,  1999,  the  company had a forward  stock split of 400:1
         thus  increasing the outstanding  common stock of the corporation  from
         5,000 common shares to 2,000,000 common shares.

         On November 1, 1999,  the Company issued 100,000 of its $.001 par value
         common stock for $100 in services.

         On November  9, 1999,  the Company  issued  9,200,000  of its $.001 par
         value common stock for $9,200 in cash.

         On  December  29,  1999,  the State of Nevada  approved  the  company's
         restated  Articles of Incorporation  that increased the  capitalization
         from 25,000,000 common shares with a par value of $0.001 to 100,000,000
         common shares with a par value of $0.001.

         On March 15, 2000,  the Company  issued  350,000 of its $.001 par value
         common stock for $3,500 in services.

         On March 15, 2000, the Company completed a private placement under Rule
         506, Regulation D. The Company sold 1,000,000 shares of common stock at
         a price of $0.25 per share,  for a total amount raised of $250,000.  On
         the same day,  under another  private  placement,  which is still open,
         under Rule 506,  Regulation D, the Company sold 95,090 shares of common
         stock at a price of $.050  per  share,  for a total  amount  raised  of
         $95,090.

         On April 15, 2000,  the Company  issued  454,000 of its $.001 par value
         common stock for $227,000 in cash.

                                       10
<PAGE>

                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)


                          NOTES TO FINANCIAL STATEMENTS

             June 30, 2000, December 31, 1999, and December 31, 1998


NOTE #4 - STOCKHOLDERS' EQUITY (CONTINUED)
         On May 15, 2000,  the Company  issued  2,400,000 of its $.001 par value
         common stock for $700,000 in cash.


         On June 15,  2000,  the Company  issued  350,000 of its $.001 par value
         common stock for $142,500 in cash.

NOTE #5 - WARRANTS AND OPTIONS

         There are no warrants or options  outstanding to acquire any additional
         shares of common stock.

NOTE #6 - GOING CONCERN

         The  Company's  Financial   Statements  are  prepared  using  generally
         accepted  accounting  principles  applicable to a going concern,  which
         contemplates  the  realization of assets and liquidation of liabilities
         in the normal course of business. However, the Company does not have an
         established source of revenues  sufficient to cover its operating costs
         and to allow it to continue as a going concern. It is the intent of the
         Company to seek a merger with an existing, operating company.

NOTE #7 - RELATED PARTY TRANSACTIONS

         The Company does not own any real  property.  The Company leases office
         space at 9601  Wilshire  Boulevard in Beverly  Hills,  California.  The
         officers of the Company provide executive and  administrative  services
         without salary.





                                       11
<PAGE>
Item 2.
                          TRANSAMERICAN HOLDINGS, INC.
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATION

      The Company substantially  increased its current cash assets from $292,803
as of March 31, 2000, to  $1,286,362  as of June 30 2000.  This increase of cash
was due to the sale of  additional  shares of Common Stock by the  Company.  All
issuance of shares were made in compliance with all applicable securities laws.

      Although the Company  increased its total  expenses to $95,354 for the six
months ended June 30, 2000, the increase in expenses resulted primarily from the
relocation of the  Company's  offices to its new  headquarters  at 9601 Wilshire
Boulevard in Beverly Hills,  California 90210. The Company believes that the new
headquarters will be adequate for all of the Company's future needs.

      Although the Company has not yet finalized the  acquisition of an on-going
business,  the  Company  expects  to be in  the  final  stages  of  acquiring  a
successful business.

      Since the Company  presently has no earnings from operations,  the Company
will  continue to sustain  nominal  losses until the Company  acquires an income
generating business. The Company believes that it has sufficient working capital
to cover its operating costs until an on-going business is acquired.

FORWARD LOOKING INFORMATION

      This  Quarterly  Report on Form 10-Q contains  forward-looking  statements
within the meaning of that term in the Private Securities  Litigation Reform Act
of  1995  (Section  17A of the  Securities  Act of 1933  an  Section  21E of the
Securities  Exchange Act of 1934).  Additional  written or oral  forward-looking
statements  may be made by the  Company  from time to time in  filings  with the
Securities and Exchange  Commission or otherwise.  Statements  contained  herein
that are not historical  facts are  forward-looking  statements made pursuant to
the safe harbor provisions referenced above.

      Forward-looking   statements   are   inherently   subject   to  risks  and
uncertainties,  some of which cannot be predicted or quantified based on current
expectations.  Consequently,  future  events and  actual  results  could  differ
materially  from  those  set  forth  in,  contemplated  by,  or  underlying  the
forward-looking  statements  contained in this Quarterly  Report.  Statements in
this Quarterly Report,  particularly in the Notes to Financial  Statements,  and
"Part 1, Item 2, Management's Discussion and Analysis of Financial Condition and
Results of  Operations,"  describe  certain  factors,  among others,  that could
contribute to or cause such differences.  Other factors that could contribute to
or  cause  such  differences  include,  but are not  limited  to,  unanticipated
developments  in any one or more of the  following  areas:  the  receptivity  of
consumers  to new  consumer  electronics  technologies,  the rate  and  consumer
acceptance of new product introductions,  competition,  the number and nature of
customers  and their  product  orders,  timely  replacement  of lost  customers,
pricing, foreign manufacturing, sourcing and sales (including foreign government
regulation,  trade and importation  concerns and fluctuation in exchange rates),
borrowing   costs,  the  receptivity  in  the  market  place  of  the  Company's
restructuring  efforts,  changes in taxes due to changes in the mix of U.S.  and
non U.S.  revenue,  pending or threatened  litigation,  the  availability of key
personnel  and other risk factors which may be detailed from time to time in the
Company's Securities and Exchange Commission filings.

      Readers are cautioned not to place undue  reliance on any  forward-looking
statements contained herein, which speak only as of the date hereof. The Company
undertakes  no  obligation  to publicly  release the result of any  revisions to
these  forward-looking  statements  that  may  be  made  to  reflect  events  or
circumstances  after the date hereof or to reflect the  occurrence of unexpected
events.
                                       12
<PAGE>


PART II.    Other Information

Item 1.     Legal Proceedings - None.

Item 2.     Changes in the Rights of the Company's Security Holders - None.

Item 3.     Defaults by the Company on its Senior Securities - Not Applicable.

Item 4.     Results of Votes of Security Holders - None.

Item 5.     Other Information - None.

Item 6.     Exhibits and Reports on Form 8-K -

     (a)   Exhibits

Exhibit
Number      Description
-------     -----------
27          Financial Data Schedule

     (b)   Reports on Form 8-K

            None




                                   SIGNATURES



Pursuant  to the  requirement  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.



                                              TRANSAMERICAN HOLDINGS, INC.
                                              Registrant



Date: August 18, 2000                         /s/ Michael Savage
                                              ---------------------------------
                                              Michael Savage
                                              President







                                       13