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

                                   Form 10-QSB


(X)     Quarterly  Report  pursuant  to  Section  13 or l5 (d)  of  the
Securities  Exchange Act of 1934

                For the quarterly period ended September 30, 2003

                                       OR

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

                        Commission File Number: 0-32747
                                    -------


                              OTISH MOUNTAIN DIAMOND COMPANY
        ----------------------------------------------------------------
        (Exact Name of Small Business Issuer as Specified in Its Charter)

             Nevada                                             98-0218688
  ------------------------------                          ---------------------
  (State or Other Jurisdiction                             (I.R.S. Employer
  Incorporation or Organization)                         Identification Number)


      One Penn Plaza, Suite 3600, 250 West 34th Street, New York, New York 10119
           -----------------------------------------------------------
                    (Address of Principal Executive Offices)

          Issuer's Telephone Number, Including Area Code: (212) 849-6849

                               First Cypress, Inc.
                       1281 West Georgia Street, Suite 501
                         Vancouver, B.C., Canada V6E 3J7
      ---------------------------------------------------------------------
              (Former Name, Former Address and Former Fiscal Year,
                          if Changed Since Last Report)


Check whether the issuer:  (1) filed all reports required to be filed by Section
13 or 15 (d) of the Exchange Act during the past 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

     State the number of shares outstanding of each of the issuer's classes of
common equity,  as of the latest  practicable  date: 15,107,750 shares of
Common Stock, par value $0.001 per share and 1,000,000 shares of Series A
Preferred Stock, par value $0.001 per share were outstanding as of December 2,
2003.


<PAGE>

                          PART I. FINANCIAL INFORMATION

Item 1. Financial Statements


                         OTISH MOUNTAIN DIAMOND COMPANY
                         (FORMERLY FIRST CYPRESS, INC.)
                         (AN EXPLORATION STAGE COMPANY)


                          INTERIM FINANCIAL STATEMENTS


                               SEPTEMBER 30, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)


<PAGE>


<TABLE>
<CAPTION>

                            OTISH MOUNTAIN DIAMOND COMPANY
                            (FORMERLY FIRST CYPRESS, INC.)
                           (AN EXPLORATION STAGE COMPANY)

                               INTERIM BALANCE SHEET
                                    (UNAUDITED)
                               (STATED IN U.S. DOLLARS)



                                                              SEPTEMBER 30     DECEMBER 31

                                                                  2003            2002
<S>                                                            <C>         <C>
ASSETS

CURRENT
   Cash                                                        $   7,897       $       -
                                                               ===========     ===========
LIABILITIES

CURRENT
   Accounts payable                                            $  59,322       $  41,211
   Due to shareholder (Note 3)                                   236,620         171,973
                                                                 295,942         213,184
                                                                ----------     ----------

SHAREHOLDERS' EQUITY

SHARE CAPITAL
   Authorized:
      150,000,000 Common shares, par value $0.001 per share
      100,000,000 Preferred shares, par value $0.001 per share

   Issued and outstanding:
      21,550,000 Common shares at September 30, 2003
      and 20,362,500 Common shares at December 31, 2002

                                                                  21,550          20,363

Additional paid-in capital                                       133,488          22,187

DEFICIT ACCUMULATED DURING THE EXPLORATION STAGE                (443,083)       (255,734)
                                                                ----------     ----------
                                                                (288,045)       (213,184)
                                                                ----------     ----------
                                                               $   7,897       $       -
                                                               ===========     ===========

</TABLE>


<PAGE>


<TABLE>
<CAPTION>

                           OTISH MOUNTAIN DIAMOND COMPANY
                           (FORMERLY FIRST CYPRESS, INC.)
                           (AN EXPLORATION STAGE COMPANY)

                       INTERIM STATEMENT OF LOSS AND DEFICIT
                                    (UNAUDITED)
                              (STATED IN U.S. DOLLARS)



                                                                         PERIOD FROM
                                                                          INCEPTION
                                                                         SEPTEMBER 14
                              THREE MONTHS ENDED      NINE MONTHS ENDED     1999 TO
                                 SEPTEMBER 30            SEPTEMBER 30    SEPTEMBER 30
                              2003         2002         2003       2002      2003
                            --------     --------      --------  --------  ---------
<S>                        <C>          <C>          <C>         <C>       <C>
EXPENSES
Business development       $         -  $         -  $        -  $      -  $ 10,900
Interest and bank
 charges                            59        2,737       7,331     7,444    28,893
Management fees                  3,000        3,000       9,000     9,000    34,000
Office and sundry                  661           25       2,068       463     4,227
Professional fees               14,010        3,997     112,690     5,651   275,803
Rent and office services         1,500        1,500       5,967     4,500    23,967
Exploration (Note 5)                 -            -      50,293         -    50,293
                            ----------     --------     --------  --------  ---------

LOSS FROM CONTINUING
 OPERATIONS                     19,230       11,259     187,349    27,058   428,083
LOSS FROM DISCONTINUED
 OPERATIONS (Note 2)                 -            -           -         -    15,000
                            ----------     --------     --------  --------  ---------

NET LOSS FOR THE PERIOD         19,230       11,259     187,349    27,058  $443,083
                                                                           ==========
DEFICIT ACCUMULATED
 DURING THE EXPLORATION
 STAGE, BEGINNING OF
 PERIOD                        423,853      210,191     255,734   194,392
                            ----------     --------     --------  --------

DEFICIT ACCUMULATED
 DURING THE EXPLORATION
 STAGE, END OF PERIOD      $   443,083  $   221,450  $  443,083  $221,450
                            ==========     =========   =========  ========

NET LOSS PER SHARE         $      0.01  $      0.01  $     0.01  $   0.01
                            ==========     =========   =========  ========


WEIGHTED AVERAGE
 NUMBER OF SHARES
 OUTSTANDING                21,550,000    7,057,500  20,955,339  7,057,500
                            ==========     =========   =========  ========

</TABLE>


<PAGE>


<TABLE>
<CAPTION>

                               OTISH MOUNTAIN DIAMOND COMPANY
                               (FORMERLY FIRST CYPRESS, INC.)
                               (AN EXPLORATION STAGE COMPANY)

                               INTERIM STATEMENT OF CASH FLOWS
                                         (UNAUDITED)
                                  (STATED IN U.S. DOLLARS)

                                                                                PERIOD FROM
                                                                                 INCEPTION
                                                                                SEPTEMBER 14
                                     THREE MONTHS ENDED     NINE MONTHS ENDED     1999 TO
                                        SEPTEMBER 30           SEPTEMBER 30      SEPTEMBER 30
                                       2003       2002        2003       2002        2003
                                    ---------  ----------   ----------  --------  ----------
<S>                                  <C>        <C>        <C>         <C>        <C>

CASH FLOWS FROM OPERATING
 ACTIVITIES
Net loss for the period from
 continuing operations               $(19,230)  $(11,259)  $(187,349)  $(27,058)  $(428,083)

ADJUSTMENTS TO RECONCILE NET LOSS
 TO NET CASH USED BY OPERATING
 ACTIVITIES
Interest accrued on the
 stockholder loan                           -      2,715       7,215      7,353      28,408
Common shares issued for
 business development cost                  -          -           -          -      10,900
Common shares issued for
 professional services                      -          -      83,088          -      83,088
Common shares issued for
 exploration expenses                       -          -      29,400          -      29,400
Increase (Decrease) in liabilities
 Accounts payable and accrued
 liabilities                           (3,704)    (1,142)     18,111    (13,619)     59,322
                                     ---------  ---------  ----------  ---------  ----------

CASH FLOWS FROM OPERATING
 ACTIVITIES - CONTINUING OPERATIONS   (22,934)    (9,686)    (49,535)   (33,324)   (216,965)

CASH FLOWS FROM OPERATING
 ACTIVITIES - DISCONTINUED
 OPERATIONS                                 -          -           -          -     (15,000)
                                     ---------  ---------  ----------  ---------  ----------
                                      (22,934)    (9,686)    (49,535)   (33,324)   (231,965)
                                     ---------  ---------  ----------  ---------  ----------

CASH FLOWS FROM FINANCING
 ACTIVITIES
Loans from stockholder                 30,730      9,664      57,432     33,233     208,212
Proceeds from issuance of
 common shares                              -          -           -          -      31,650
                                     ---------  ---------  ----------  ---------  ----------
                                       30,730      9,664      57,432     33,233     239,862
                                     ---------  ---------  ----------  ---------  ----------

INCREASE (DECREASE) IN CASH             7,796        (22)      7,897        (91)      7,897

CASH, BEGINNING OF PERIOD                 101        244           -        313           -
                                     ---------  ---------  ----------  ---------  ----------

CASH, END OF PERIOD                  $  7,897   $    222   $   7,897   $    222   $   7,897
                                     =========  =========  ==========  =========  ==========
</TABLE>

<PAGE>


<TABLE>
<CAPTION>

                                     OTISH MOUNTAIN DIAMOND COMPANY
                                    (FORMERLY FIRST CYPRESS, INC.)
                                    (AN EXPLORATION STAGE COMPANY)

                              INTERIM STATEMENT OF STOCKHOLDERS' EQUITY

                                          SEPTEMBER 30, 2003
                                             (UNAUDITED)
                                       (STATED IN U.S. DOLLARS)




                                                      COMMON STOCK               DEFICIT
                                             -------------------------------   ACCUMULATED
                                                                   ADDITIONAL  DURING THE
                                                                     PAID-IN  EXPLORATION
                                              SHARES      AMOUNT     CAPITAL     STAGE       TOTAL
                                             -----------  --------  ----------  ---------  ----------
<S>                                        <C>           <C>        <C>        <C>         <C>
Issuance of shares on incorporation in
 September 1999 for cash at $0.0002 per
 share                                      25,000,000   $ 25,000   $(20,000)  $       -   $   5,000
Issuance of shares for cash in November
 1999 at $0.002 per share                    9,950,000      9,950      9,950           -      19,900
Issuance of shares for cash in December
 1999 at $0.02 per share                       337,500        338      6,412           -      6,750
Net loss for the period                              -          -          -     (33,298)    (33,298)
                                             -----------  --------  ----------  ---------  ----------

Balance, December 31, 1999                  35,287,500     35,288     (3,638)    (33,298)     (1,648)

Net loss for the year                                -          -          -    (108,996)   (108,996)
                                             -----------  --------  ----------  ---------  ----------

Balance, December 31, 2000                  35,287,500     35,288     (3,638)   (142,294)   (110,644)

Net loss for the year                                -          -          -    (187,349)   (187,349)
                                             -----------  --------  ----------  ---------  ----------

Balance, December 31, 2001                  35,287,500     35,288     (3,638)   (443,083)   (288,045)

Issuance and assignment of common
 shares in October 2002 on acquisition of
 Money Club Financial business plan
Common shares transferred from the
 Company's president                                 -          -     10,582           -      10,582
Issuance of common shares                       75,000         75        243           -         318
Redemption and cancellation of common
 shares in October 2002 for $Nil
 consideration                             (15,000,000)   (15,000)    15,000           -           -
Net loss for the year                                -          -          -     (61,342)    (61,342)
                                             -----------  --------  ----------  ---------  ----------

Balance, December 31, 2002                  20,362,500     20,363     22,187    (255,734)   (213,184)
</TABLE>


<PAGE>


<TABLE>
<CAPTION>

                                  OTISH MOUNTAIN DIAMOND COMPANY
                                  (FORMERLY FIRST CYPRESS, INC.)
                                  (AN EXPLORATION STAGE COMPANY)

                      INTERIM STATEMENT OF STOCKHOLDERS' EQUITY (CONTINUED)

                                        SEPTEMBER 30, 2003
                                           (UNAUDITED)
                                     (STATED IN U.S. DOLLARS)




                                                    COMMON STOCK             DEFICIT
                                             ----------------------------  ACCUMULATED
                                                                ADDITIONAL  DURING THE
                                                                 PAID-IN   EXPLORATION
                                              SHARES    AMOUNT   CAPITAL      STAGE       TOTAL
                                           -----------  -------  --------  ---------  -----------
<S>                                         <C>         <C>      <C>       <C>         <C>
Balance, December 31, 2002                  20,362,500  $20,363  $ 22,187  $(255,734)  $(213,184)

Issuance of common shares for
 professional services at $0.085 per share
In May 2003                                    750,000      750    63,000          -      63,750
In June 2003                                   227,500      227    19,111          -      19,338
Issuance of common shares for mineral
 properties and exploration expenses in
 May 2003 at $0.14 per share                   210,000      210    29,190          -      29,400
Net loss for the period                              -        -         -   (182,849)   (182,849)
                                           -----------  -------  --------  ---------  -----------
Balance, September 30, 2003                 21,550,000  $21,550  $133,488  $(438,583)  $(283,545)
                                           ===========  ======  =========  =========  ===========
</TABLE>


<PAGE>


                         OTISH MOUNTAIN DIAMOND COMPANY
                         (FORMERLY FIRST CYPRESS, INC.)
                         (AN EXPLORATION STAGE COMPANY)

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



1.     BASIS  OF  PRESENTATION

The  interim  financial statements as of September 30, 2003 included herein have
been  prepared  without  audit  pursuant  to  the  rules  and regulations of the
Securities and Exchange Commission. Certain information and footnote disclosures
normally  included  in  financial  statements prepared in accordance with United
States  of  America generally accepted accounting principles have been condensed
or  omitted  pursuant  to  such  rules  and  regulations.  In  the  opinion  of
management, all adjustments (consisting of normal recurring accruals) considered
necessary  for  a  fair  presentation  have been included.  It is suggested that
these  financial  statements  be  read in conjunction with the December 31, 2002
audited  financial  statements  and  notes  thereto.


2.     NATURE  OF  BUSINESS  AND  ABILITY  TO  CONTINUE  OPERATIONS

The  Company  was incorporated on September 14, 1999 under the laws of the State
of  Nevada.  The  Company  was in the process of developing an internet computer
software  program  known  as EngineMax.  The EngineMax computer software program
was  being  designed  to automate the process of submission of internet web page
information to major internet search engines.  Essentially, software development
was  suspended  in November 2002 due to cash flow constraints.  In October 2002,
the  Company  acquired  certain  items  constituting  the "Money Club Financial"
business concept and business plan.  Due to the Company's inability to raise the
necessary  capital  to  further  the Money Club business concept, no monies were
spent  furthering the business concept from the date of acquisition to September
30,  2003.  In  February  and April of 2003, the Company entered into two option
agreements  to  acquire mineral property rights in British Columbia, Canada, and
is  in  the process of pursuing mineral exploration activity.  In July 2003, the
Company changed its name to First Cypress, Inc. and, subsequent to September 30,
2003,  changed  its  name  to  Otish  Mountain  Diamond  Company.

These  accompanying  financial  statements have been prepared on a going concern
basis,  which  contemplates  the  realization of assets, and the satisfaction of
liabilities  and  commitments in the normal course of business.  As at September
30,  2003,  the  Company  has  recognized  no revenue, has accumulated operating
losses  of $438,583 since its inception, and has a working capital deficiency of
$283,545.

<PAGE>

                         OTISH MOUNTAIN DIAMOND COMPANY
                         (FORMERLY FIRST CYPRESS, INC.)
                         (AN EXPLORATION STAGE COMPANY)

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



2.     NATURE  OF  BUSINESS  AND  ABILITY  TO  CONTINUE  OPERATIONS  (Continued)

The  continuation  of  the  Company  is dependent upon pursuing and developing a
sustainable  business,  the  continuing  financial  support  of  creditors  and
stockholders,  and  obtaining  long  term  financing  as  well  as  achieving  a
profitable  level  of  operations.  Management  plans to raise equity capital to
finance  the administration and mineral exploration requirements of the Company.
It  is management's intention to raise new equity financing of at least $180,000
in  2003.  While  the Company is expending its best efforts to achieve the above
plans,  there  is  no  assurance that any such activity will generate funds that
will  be  available  for  operations.  Should  the  Company not raise the amount
necessary  to keep the mineral exploration agreements in good standing (Note 5),
such  agreements,  and  the  Company's  rights  under those agreements, would be
cancelled.

These conditions raise substantial doubt about the Company's ability to continue
as  a  going concern.  These financial statements do not include any adjustments
relating  to the amounts and classification of liabilities that might arise from
this  uncertainty.

In  connection  with  the  Money Club Financial purchase in October 2002 and the
mineral option agreements entered into during 2003, the Company has discontinued
its  involvement  in  software  development  related  to  its EngineMax computer
software  program.  Such  costs  related  to  software  development  have  been
segregated  in  these  financial  statements  as  discontinued  operations.  The
Company  did  not  incur  any  costs  in  2003  or  2002  in respect of software
development.  No  revenue  was  ever  earned from software development and there
were  no  assets  existing  at  September  30,  2003  pertaining to the software
development  business.

On  October  14,  2002, the Company completed a five for one split of its common
stock.  The  effects  of  the  stock  split have been retroactively reflected in
these  financial  statements.


3.     DUE  TO  STOCKHOLDER

Amounts  due  to  the  Company's president are unsecured and repayable on demand
with  interest  at  8%  per annum.  Interest expense accrued in respect of these
advances  totaled  $7,215  for  the  nine month period ended September 30, 2003
(2002  -  $7,353).


<PAGE>


                         OTISH MOUNTAIN DIAMOND COMPANY
                         (FORMERLY FIRST CYPRESS, INC.)
                         (AN EXPLORATION STAGE COMPANY)

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



4.     RELATED  PARTY  TRANSACTIONS

Related party transactions not disclosed elsewhere in these financial statements
are  as  follows:

                                                       2003               2002
                                                       ====               ====
Rent  and  office  services paid
to the president of the Company                     $ 4,500            $ 4,500
Management  fees  paid  to  the  president
of the Company                                      $ 9,000            $ 9,000

Related party transactions are recorded at the exchange amount, being the amount
established  and  agreed  to  by  the  related  parties.


5.     MINERAL  PROPERTIES

Exploration  costs  are  charged  to operations as incurred until such time that
proven  reserves  are  discovered.  From  that  time  forward,  the Company will
capitalize  all costs to the extent that future cash flows from mineral reserves
equals or exceeds the costs deferred.  Any deferred costs will be amortized over
the  recoverable  reserves when a property reaches commercial production.  As at
September  30,  2003, the Company did not have proven reserves.  The Company did
not  have  any  mineral  properties  at  December  31,  2002.

Unpaid amounts in respect of the Company's option agreements are not recorded as
a  liability  since  they  are  payable  entirely  at  the  Company's  option.

A  summary  of  the  Company's  mineral  exploration  projects  are  as follows:

a)   On  February 18, 2003, the Company entered into an option agreement whereby
     it  acquired  an  exclusive option to purchase a 100% undivided interest in
     two  mineral claims (the "Cahill Claims") in the Osoyoos Mining Division in
     British  Columbia,  Canada.  The  option is exercisable upon the payment of
     $1,500  (which  has  been  paid),  the  issuance  of  120,000 shares of the
     Company's  common  stock  (10,000  shares  were  issued),  and  incurring
     exploration  expenditures  of  $115,000  in  the  a three phase exploration
     program  before  July  31,  2004.

<PAGE>

                         OTISH MOUNTAIN DIAMOND COMPANY
                         (FORMERLY FIRST CYPRESS, INC.)
                         (AN EXPLORATION STAGE COMPANY)

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



5.     MINERAL  PROPERTIES  (Continued)

On  July  25,  2003, the Company entered into an amendment agreement whereby the
dates  of  the  three  phase  exploration program have been extended to July 31,
2005.  The  issuance of common shares and exploration expenditures are staged as
follows:

<TABLE>
<CAPTION>


                              ISSUANCE OF
                                COMMON         EXPLORATION
                                SHARES        EXPENDITURES
                              ----------  -------------------
<S>                             <C>      <C>
On original agreement (issued)   10,000  $           -
Before November 30, 2003         10,000          5,000
Before July 31, 2004             50,000         10,000
Before July 31, 2005             50,000        100,000
                              ----------  -------------------
                                120,000  $     115,000
                              ==========  ===================
</TABLE>



During  the  nine months ended September 30, 2003, the Company has issued 10,000
shares  with  a  value  of  $1,400  (Note 6), and incurred $1,693 of exploration
expenditures  in  respect  of  the  Cahill  Claims.

b)   On  April 16, 2003, the Company entered into an option agreement whereby it
     acquired  an  exclusive  option to purchase a 70% undivided interest in the
     Eddy  mineral  claims (the "Eddy Claim") in the Fort Steele Mining District
     of  British Columbia, Canada. The option is exercisable upon the payment of
     $1,000  (which  has  been  paid),  the issuance of 650,000 shares of common
     stock,  and  incurring exploration expenditures of $775,000 in a four phase
     exploration program before April 1, 2007. The issuance of common shares and
     exploration  expenditures  are staged as follows:

<TABLE>
<CAPTION>


                              ISSUANCE OF
                                COMMON     EXPLORATION
                                SHARES     EXPENDITURES
                               --------  ---------------
<S>                             <C>      <C>
On original agreement (issued)  200,000  $           -
Before April 16, 2004           150,000         75,000
Before April 16, 2005           150,000        150,000
Before April 16, 2006           150,000        250,000
Before April 16, 2007                 -        300,000
                               --------  ---------------
                                650,000  $     775,000
                               ========  ===============
</TABLE>


<PAGE>


                         OTISH MOUNTAIN DIAMOND COMPANY
                         (FORMERLY FIRST CYPRESS, INC.)
                         (AN EXPLORATION STAGE COMPANY)

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



5.     MINERAL  PROPERTIES  (Continued)

During  the  nine  months  ended  September 30, 2003, the Company issued 200,000
shares  having  a value of $28,000 (Note 6), and incurred $15,600 of exploration
expenditures  in  respect  of  the  Eddy  Claims.

c)   In  May  2003,  the  Company  entered  into  an option agreement whereby it
     acquired  a 50% interest in the Temagami Diamond Claim units (the "Temagami
     Claim")  in  the  Sudbury Mining Division in Ontario, Canada. The option is
     exercisable upon cash payments of $43,165 (or CDN$60,000, based on exchange
     rate  on  the date of the agreement) (of which $3,600 or CDN$5,000 has been
     paid),  $35,970  (or  CDN$50,000)  of  property  payments,  and  incurred
     exploration expenditures of $179,856 (or CDN$250,000) before June 30, 2004.
     The  cash  and property payments (based on the exchange rate on the date of
     the  agreement)  are scheduled as follows:

<TABLE>
<CAPTION>


                                                 CASH     PROPERTY
                                               PAYMENTS   PAYMENTS
                                              ----------  ---------
<S>                                            <C>        <C>
On agreement (paid)                            $   3,600  $       -
Various dates on or before December 31, 2003      39,565      7,194
On June 1, 2004                                        -     10,791
On December 31, 2005                                   -     17,985
                                              ----------  ---------
                                               $  43,165  $  35,970
                                              ==========  =========
</TABLE>


The  Company  also  has to incur $179,856 (or CDN$250,000, based on the exchange
rate  on  the  date  of  the agreement) of exploration expenditures as scheduled
below:

-    $71,942 (or CDN$100,000) exploration expenditures within 12 months from May
     15,  2003;  and
-    $107,914  (or  CDN$150,000)  exploration expenditures within 12 months from
     June  30,  2004.

Due  to  its  inability  to  raise  sufficient  capital to meet the cash payment
requirement,  the  Company  has terminated the agreement.  The payment of $3,600
has  been  charged  to  exploration  expenses  in  the  statement of operations.

<PAGE>

                         OTISH MOUNTAIN DIAMOND COMPANY
                         (FORMERLY FIRST CYPRESS, INC.)
                         (AN EXPLORATION STAGE COMPANY)

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)


6.     SHARE  CAPITAL

In  May  2003,  the  Company's  Board  of Directors approved the 2003 Consulting
Services  Plan  (the  "Plan")  whereby  4,200,000 shares of the Company's common
stock  may  be  issued  to  compensate  consultants for services rendered to the
Company  pursuant  to  consulting  agreements.  Also  in  May  2003, the Company
entered  into  two  agreements  with  consultants pursuant to the Plan to obtain
legal  and communication services.  During the nine month period ended September
30,  2003, the Company issued 977,500 shares for professional services at $0.085
per  share for a total value of $83,088, based on the quoted market price on the
date  of  the  various  service  agreements.

During  the  nine  month  period  ended  September  30, 2003, the Company issued
210,000 shares (Notes 5(a) and (b)) of common stock at $0.14 per share (based on
the  quoted  market  price  of  the  Company's  common stock on the dates of the
respective  agreements) having a total value of $29,400 in accordance to various
mineral  property  agreements.

During the nine month period ended September 30, 2003, the Company increased its
authorized  capital  to  150,000,000 common shares with par value pf $0.001. The
Company  was  also  authorized to issue up to 100,000,000 undesignated preferred
shares  with  a  par  value  of  $0.001.


7.     NEW  ACCOUNTING  PRONOUNCEMENT

On  May  15,  2003,  the  Financial  Accounting  Standards Board ("FASB") issued
Statement  of  Financial  Accounting Standard ("SFAS") No. 150 - "Accounting for
Certain  Financial  Instruments  with  Characteristics  of  Both Liabilities and
Equity".  SFAS  No. 150 changes the accounting for certain financial instruments
that,  under previous guidance, could be classified as liabilities (or assets in
some  circumstances)  in the statement of financial position.  Further, SFAS No.
150  requires disclosure regarding the terms of those instruments and settlement
alternatives.  SFAS  No. 150 affects an entity's classification of the following
freestanding instruments:  (a) mandatorily redeemable instruments, (b) financial
instruments  to  repurchase  an  entity's  own equity instruments, (c) financial
instruments embodying obligations that the issuer must or could choose to settle
by  issuing  a  variable  number of its shares or other equity instruments based
solely  on:  (i)  a  fixed monetary amount known at inception, or (ii) something
other  than  changes  in  its  own equity instruments, (d) SFAS No. 150 does not
apply to features embedded in a financial instrument that is not a derivative in
its  entirety.  The  guidance  in  SFAS  No.  150 is generally effective for all
financial  instruments  entered  into  or  modified  after  May 31, 2003, and is
otherwise effective at the beginning of the first interim period beginning after
June  15,  2003.

<PAGE>

                         OTISH MOUNTAIN DIAMOND COMPANY
                         (FORMERLY FIRST CYPRESS, INC.)
                         (AN EXPLORATION STAGE COMPANY)

                      NOTES TO INTERIM FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2003
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



7.     NEW  ACCOUNTING  PRONOUNCEMENT  (Continued)

The  implementation  of  these  new standards is not expected to have a material
effect  on  the  Company's  financial  statements.


8.     SUBSEQUENT  EVENTS

Subsequent  to  September  30,  2003:

a)   The  Company  issued  1,000,000  Series  A  preferred  shares  for services
     rendered.  Each  preferred  share  is  entitled to fifteen votes per share.

b)   The  capitalization  of  the Company was amended to reflect a 200:1 reverse
     stock  split  and to increase the authorized capital to 600,000,000 shares,
     consisting  of  500,000,000  common  shares with a par value of $0.001, and
     1,000,000  preferred  shares  with  a  par  value  of  $0.001.

c)   The  Company's  name  was  changed  to  Otish  Mountain  Diamond  Company.

d)   The  Company  entered into a share exchange agreement pursuant to which the
     Company  acquired  100%  of  the  issued  and  outstanding  shares of Otish
     Mountain  Diamond Company in exchange for the issuance of 15,000,000 common
     shares.

<PAGE>


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

FORWARD LOOKING STATEMENTS

     This report contains "forward looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements regarding
our plans, objectives, expectations, and intentions. Although we believe the
statements and projections are based upon reasonable assumptions, actual results
may differ from those that we have projected.

PLAN OF OPERATION

     Otish Mountain Diamond Company (formerly First Cypress, Inc.), a Nevada
corporation, was organized on September 14, 1999.  From inception to September
30, 2003, the Company has not generated any revenues and is considered a
development stage enterprise, as defined in Financial Accounting Standards Board
No. 7.

     The Company was in the process of developing an internet computer software
program known as EngineMax.  Essentially, software development was suspended in
November 2002 due to cash flow constraints.  In October 2002, the Company
acquired certain items constituting the "Money Club Financial" business concept
and business plan.  Due to the Company's inability to raise the necessary equity
capital to further the Money Club Financial business concept, no monies were
spent furthering the business concept from the date of acquisition to September
30, 2003.

     On February 18, 2003, the Company entered into an option agreement, as
amended on July 25, 2003, whereby  it acquired an exclusive option to purchase a
100% undivided interest in two mineral claims (the "Cahill Claims") in the
Osoyoos Mining Division in British Columbia, Canada.  During the next twelve
months, in order to maintain its option the Company is obligated to incur
exploration expenditures of $15,000 and the issuance of 60,000 shares of its
common stock.  During the nine months ended September 30 2003, the Company
incurred $1,693 of exploration expenditures and issued 10,000 shares with a
value of $1,400 in respect of the Cahill Claims.  Note 5 a), Notes to
Interim Financial Statements provide further detail regarding the Company's
obligations with respect to the Cahill Claims.  As of November 30, 2003,
the Company was in default with respect to an issuance of stock and a
payment of $5,000 to maintain its option.  The Company is contemplating
whether to renegotiate the option or let it expire.

     On April 16, 2003, the Company entered into an option agreement whereby it
acquired an exclusive option to purchase a 70% undivided interest in the Eddy
mineral claims (the "Eddy Claim") in the Fort Steele Mining District of British
Columbia, Canada. During the next twelve months, in order to maintain its
option, the Company is obligated to incur exploration expenditures of $75,000
and the issuance of 150,000 shares of its common stock. During the nine months
ended September 30 2003, the Company incurred $15,600 of exploration
expenditures and issued 200,000 shares with a value of $28,000 in respect of the
Eddy Claim. Note 5 b), Notes to Interim Financial Statements provide further
detail regarding the Company's obligations with respect to the Eddy Claim.

     In May 2003, the Company entered into an option agreement whereby it
acquired a 50% interest in the Temagami Diamond Claim units (the "Temagami
Claim") in the Sudbury Mining Division in Ontario, Canada.  The agreement
required the Company to pay an option price of $43,165, property payments of
$35,970, and exploration expenditures of $71,942 within twelve months of May 15,
2003, and $107,914 within twelve months of June 30, 2004.  Due to its inability
to raise sufficient capital to meet the cash payment requirement, the Company
terminated the agreement.  Note 5 c), Notes to Interim Financial Statements
provides further detail regarding the Company's obligations with respect to the
Temagami Claim.

<PAGE>

     As of September 30, 2003, the Company did not have adequate cash reserves
to satisfy its obligations under the option agreements during the next twelve
months. The Company is evaluating extending or meeting the terms of options to
acquire the Cahill claims and Eddy claim. If the Company wishes to pursue the
acquisition of such claims it will to need to raise new equity financing of at
least $180,000 to meets it obligations with respect to the Cahill Claims and the
Eddy Claim. In the event that the Company cannot obtain such financing, it
believes that it can satisfy its cash requirements until April 16, 2004, at
which time exploration expenditures of $75,000 are due with respect to the
option to pursue the Eddy Claims.

SUBSEQUENT EVENTS

     Subsequent to the quarter ended September 30, 2003, the Company
successfully acquired 100% of Otish Mountain Diamond Corp. ("Otish Corp.") as
disclosed below under Part II, Item 5.  The business activities of Otish Corp.
became the business activities of the Company.  Through Otish Corp., the Company
is conducting a two-year diamond exploration program in the Otish Mountain area
of Northern Quebec.  The Company has spent approximately $130,000 to date, and
plans to spend another $350,000 for exploration purposes.  The Company is in the
process of raising $400,000 of new equity financing for Otish Corp.  If the
Company discovers an economic deposit of rough diamonds, the Company intends to
execute a feasibility plan for the development of a mining operation, at which
time, the Company will need $2 million of additional financing, if not more, to
execute the plan and develop the mining operation.  If the Company does not
discover such rough diamonds, the Company will consider other high potential
exploration projects that will also require the same or a similar amount of
additional financing.

     In November 2003, Robert Rosner entered into an agreement with the Company,
whereby Mr. Rosner agreed to convert debt of approximately $236,000 into 236,000
shares of Company common stock.


COMPARISON OF OPERATING RESULTS

QUARTER ENDED SEPTEMBER 30, 2003 COMPARED TO QUARTER ENDED SEPTEMBER 30, 2002

     The Company is considered a development stage enterprise, as defined by
Financial Accounting Standards Board No. 7.  The Company has not generated any
revenues since inception, September 14, 1999.  The Company incurred a net loss
of $14,730 in the third quarter of 2003 as compared to a net loss of 11,259 in
the third quarter of 2002.  During the period from inception to September 30,
2003, the Company accumulated operating losses of $438,583, of which $15,000 was
due to discontinuation of software development activities related to its
EngineMax computer software program.

     General and administrative ("G&A") expenses increased 72% from $8,522
during the third quarter of 2002 to $14,671 during the third quarter of 2003.
The increase was due to an increase in professional fees and office expenses
that was offset by a decrease in management fees and rent expense.

     Interest expense decreased 98% from $2,737 during the third quarter of 2002
to $59 during the third quarter of 2003.

<PAGE>

NINE MONTHS ENDED SEPTEMBER 30, 2003 COMPARED TO NINE MONTHS ENDED SEPTEMBER 30,
2002

     The Company incurred a net loss of $182,849 during the first nine months of
2003 as compared to a net loss of $27,058 during the first nine months of 2002.
The increase was due to an increase in professional fees, office expenses and
exploration that was offset by slight decreases in interest, management fees and
rent expense.

     The Company began diamond exploration activities during the first nine
months of 2003.  Exploration expenditures were $50,293 during the first nine
months of 2003 as compared to nil during the first nine months of 2002.

     Interest expense decreased from $7,444 during the nine months ended
September 30, 2002 to $7,331 for the nine months ended September 30, 2003.

LIQUIDITY AND CAPITAL RESOURCES

     As of September 30, 2003, the Company had cash of $7,897. During the next
two (2) years, the Company needs to obtain approximately $350,000 for Otish
Corp., to conduct its mining exploration activities. In addition, the Company
may seek to raise an additional $340,000 of financing if it wishes to pursue
options in connection with the Cahill Claims for $115,000, and $225,000 in
connection with the option to purchase the Eddy Claim. The Company has raised
$300,000 from three entities and an individual in October 2003. The Company is
in discussions with several parties to raise additional capital. There can be no
assurance that any new capital will be available to the Company or that adequate
funds will be sufficient for Company operations, whether from the Company's
financial markets, or other arrangements will be available when needed or on
terms satisfactory to the Company. The Company has no commitments from officers,
directors or affiliates to provide funding. The failure of the Company to obtain
adequate additional financing may require the Company to delay, curtail or scale
back some or all of its operations. Any additional financing may involve
dilution to the Company's then-existing shareholders.

Item 3. Evaluation of Disclosure Controls and Procedures

         (a) Evaluation of disclosure controls and procedures. Our chief
executive officer and our principal financial officer, after evaluating the
effectiveness of the Company's "disclosure controls and procedures" (as defined
in the Securities Exchange Act of 1934 Rules 13a-15(e) and 15d-15(e)) as of the
end of the period covered by this quarterly report (the "Evaluation Date"), has
concluded that as of the Evaluation Date, our disclosure controls and procedures
were adequate and designed to ensure that material information relating to us
and our consolidated subsidiaries would be made known to him by others within
those entities.

         (b) Changes in internal control over financial reporting. There were no
significant changes in our internal control over financial reporting during our
most recent fiscal quarter that materially affected, or is reasonably likely to
materially affect, our internal control over financial reporting.

                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

There are currently no legal proceedings to which the Company is a party.

Item 2. Changes in Securities

     (a)     On October 14, 2003, the Company affected a 1:200 reverse stock
split of its issued and outstanding common stock, $0.001 par value per share
(the "Common Stock") and increased the authorized shares from 250,000,000
shares, consisting of 150,000,000 shares of Common Stock and 100,000,000 shares
of preferred stock, $0.001 par value per share to 600,000,000 shares consisting
of 500,000,000 shares of Common Stock, reauthorizing the par value of $0.001 per
share of Common Stock, and reauthorizing 100,000,000 shares of preferred stock,
$0.001 par value per share.

<PAGE>

Item 5. Other Information

     On October 7, 2003, the Company filed a Certificate of Designations
establishing the designations, preferences, limitations and relative rights of
1,000,000 shares of Series A Preferred Stock having fifteen votes per share.
The Board of Directors issued 1,000,000 shares of Series A Preferred Stock to
Philippe Buschmann, and, as a result, control of the Company shifted to Philippe
Buschmann.  These events were reported via a Form 8-K filed on October 20, 2003,
listed below.

     As a result of the change in focus of the Company's business, the Company
changed its name from First Cypress, Inc. to Otish Mountain Diamond Company.  In
addition, On September 18, 2003 the former sole director and sole officer of
First Cypress, Inc. resigned and Philippe Buschmann was appointed Director.  On
November 5, 2003, Philippe Buschmann resigned as Director and Chief Executive
Officer and Massimiliano Pozzoni, Ben Carter and Jim Chapman were appointed
Directors.  Massimiliano Pozzoni was elected to serve as Chief Executive
Officer, President, Secretary and Treasurer by the Board of Directors.

     In October 2003, three entities and an individual subscribed to 500,000,
500,000, 1,000,000 and 1,000,000 restricted, newly issued shares of Otish Corp's
common stock, $.001 par value per share (the "Common Stock" or the "Shares") at
$.10 per share for an aggregate of $300,000.  The Company intends to use these
funds to conduct its two-year diamond exploration program in the Otish Mountain
area of Northern Quebec.

     On November 10, 2003, the client-auditor relationship between BDO Dunwoody
LLP, Chartered Accountants was ceased as the former accountant was dismissed
which was approved by our Board of Directors.  On that same day, the Company
appointed Morgan & Company, Chartered Accountants as its principal independent
public accountant.  These events were reported via a Form 8-K filed on November
11, 2003, listed below.

     In November 2003, Robert Rosner entered into an agreement with the Company,
whereby Mr. Rosner agreed to convert debt of approximately $236,000 into 236,000
shares of Company common stock.  In addition, the Company entered into an
agreement with Mr. Rosner whereby Mr. Rosner agreed to pay or extinguish the
outstanding liabilities of the Company.

     On November 30, 2003, the Company acquired 100% of the issued and
outstanding shares of Otish Mountain Diamond Corp. ("Otish Corp.") in exchange
for 15,000,000 shares of the Company's common stock that was issued to the
former shareholders of Otish Corp.  The business of Otish Corp. became the
business of the Company.


Item 6. Exhibits and Reports on Form 8-K

(a) Exhibits:

     Exhibit No.           Description

     3.1        Certificate of Designations of First
                Cypress, Inc.                               (1)

     3.2        Articles of Amendment to the Articles
                of Incorporation                            (2)

<PAGE>

     10.3       Option Agreement, Cahill Mineral Claims     (3)

     10.4       Option Agreement, Eddy Mineral Claims       (4)

     10.5       Option Amendment Agreement, Cahill
                Mineral Claims                              (5)

     31         Certificate of the Chief Executive
                Officer and Chief Financial Officer
                pursuant to Section 302 of the Sarbanes-
                Oxley Act of 2002                           (6)

     32         Certificate of the Chief Executive
                Officer and Chief Financial Officer
                pursuant to Section 906 of the Sarbanes-
                Oxley Act of 2002                           (6)


     (1) Filed as an Exhibit to the report of Form 8-K filed on October 20,
2003, and incorporated herein by reference.

     (2) Filed as an Exhibit to the report of Form 8-K filed on October 23,
2003, and incorporated herein by reference.

     (3) Filed as an Exhibit to the report of Form 8-K filed on March 5, 2003,
and incorporated herein by reference.

     (4) Filed as an Exhibit to the report of Form 8-K filed on April 22, 2003,
and incorporated herein by reference.

     (5) Filed as an Exhibit to the report of Form 10-QSB filed on August 19,
2003, and incorporated herein by reference.

     (6) Filed herewith.

(b) Reports on Form 8-K:

     The Company filed the following reports during the quarter for which this
report on Form 8-K is being filed as well as subsequent Form 8-Ks through the
date of this filing:

(1)  Form 8-K filed on October 20, 2003, to report the designation and issuance
     of 1,000,000 shares of Series A Preferred Stock having fifteen votes per
     share and a change in control as a result of such issuance.

(2)  Form 8-K filed on October 23, 2003, to report a name change, a 1:200
     reverse stock split, an increase of authorized shares, and the
     reauthorization of $0.001 par value per share of common stock and preferred
     stock.

(3)  Form 8-K filed on November 11, 2003, to report the dismissal of BDO
     Dunwood, LLP and the appointment of Morgan and Company as our principal
     independent public accountant.

<PAGE>

                                   SIGNATURES

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

OTISH MOUNTAIN DIAMOND COMPANY

Dated: December 2, 2003

By  /s/ Massimiliano Pozzoni
        ----------------------------
        Massimiliano Pozzoni,
        Chief Executive officer and
        Chief Financial Officer

<PAGE>

EXHIBIT 31

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Massimiliano Pozzoni, certify that:

1.     I have reviewed this quarterly report on Form 10-QSB of Otish Mountain
Diamond Company;

2.     Based on my knowledge, this 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 report;

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

4.     I am responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the
small business issuer and have:

a)   Designed such disclosure controls and procedures, or caused such disclosure
     controls and procedures to be designed under my supervision, to ensure that
     material information relating to the small business issuer, including its
     consolidated subsidiaries, is made known to me by others within those
     entities, particularly during the period in which this report is being
     prepared;

b)   Paragraph omitted in accordance with SEC transition instructions contained
     in SEC Release No. 33-8238;

c)   Evaluated the effectiveness of the small business issuer's disclosure
     controls and procedures and presented in this report my conclusions about
     the effectiveness of the disclosure controls and procedures, as of the end
     of the period covered by this report based on such evaluation; and

d)   Disclosed in this report any change in the small business issuer's internal
     control over financial reporting that occurred during the small business
     issuer's most recent fiscal quarter (the small business issuer's fourth
     fiscal quarter in the case of an annual report) that has materially
     affected, or is reasonably likely to materially affect, the small business
     issuer's internal control over financial reporting; and

5.     I have disclosed, based on my most recent evaluation of internal control
over financial reporting, to the small business issuer's auditors and the audit
committee of the small business issuer's board of directors (or persons
performing the equivalent functions):

a)   All significant deficiencies and material weaknesses in the design or
     operation of internal control over financial reporting which are reasonably
     likely to adversely affect the small business issuer's ability to record,
     process, summarize and report financial information; and

b)   Any fraud, whether or not material, that involves management or other
     employees who have a significant role in the small business issuer's
     internal control over financial reporting.

Date:  December 2, 2003


                                   By: /s/ Massimiliano Pozzoni
                                   -------------------------------
                                   Massimiliano Pozzoni,
                                   Chief Executive Officer and
                                   Chief Financial Officer

<PAGE>

EXHIBIT 32


      CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER
           PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
                 SECTION 906 OF TEHE SARBANES-OXLEY ACT OF 2002


I, Massimiliano Pozzoni, certify, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly
Report of Otish Mountain Diamond Company on Form 10-QSB for the quarterly period
ended September 30, 2003 fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934 and that information contained
in such Form 10-QSB fairly presents in all material respects the financial
condition and results of operations of Otish Mountain Diamond Company.


                                     By:/s/ Massimiliano Pozzoni
                                     --------------------------
                                     Name:  Massimiliano Pozzoni
                                     Title: Chief Executive Officer and
                                     Chief Financial Officer
December 2, 2003

<PAGE>