SECURITIES
  EXCHANGE COMMISSIONWashington,
  D.C. 20549

Form
  10-QSB

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

|For the
      Quarter Ended: August 31, 2002 |  | Commission
        File Number 0-29903
|-------------------------------------------- |  | --------------------------------------

CORSEA
  MANAGEMENT INC.(Exact
  name of small business issuer as specified in its charter)

|Delaware                                                               |  | 98-0220844                                  
|---------------------------------------------------------------------- |  | --------------------------------------------
|(State
        or other jurisdiction of incorporation or organization) |  | (I.R.S.
        Employer Identification No.)

Suite
  107 - 1576 Merklin Street, White Rock, British Columbia, Canada V4B 5K2
  (Address of principal executive offices)

(604)
  536-5687(Issuer's
  telephone number including area code)

Indicate
  by check mark whether the issuer (1) filed all reports required to be filed
  by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the last
  12 months (or for such shorter period that the issuer 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 equity,
  as of the end of the period

|Class                                   |  | Outstanding
        as at August 31, 2002
|--------------------------------------- |  | -----------------------------------------
|                                        |  |                                          
|Common
        Stock, par value $0.0001 |  | 5,000,000                                

---

PART 1 -
  FINANCIAL INFORMATION

|ITEM 1. |      | FINANCIAL
      STATEMENTS                        
|------- | ---- | --------------------------------------------------
|        |      |                                                   
|        | i)   | Balance
      Sheet as at August 31, 2002         
|        | ii)  | Statement
      of Operations                     
|        | iii) | Statement
      of Changes in Stockholders' Equity
|        | iv)  | Statement
      of Cash Flows                     
|        | v)   | Notes
      to the Financial Statements           

---

CORSEA
  MANAGEMENT INC.
  (A Development Stage Company)

BALANCE
  SHEETAugust
  31, 2002
  (Unaudited)

ASSETS

|                          |   | August
        31, 2002 |  |   | February
        28, 2002 | 
|------------------------- | - | ----------------------- |  | - | ------------------------- | 
|                          |   |                         |  |   |                           | 
|                          |   |                         |  |   |                           | 
|Incorporation
      Costs | $ | 210                     |  | $ | 210                       | 
|                          |   |                         |  |   |                           | 
|                          |   |                         |  |   |                           | 
|TOTAL ASSETS              | $ | 210                     |  | $ | 210                       | 

LIABILITIES
  AND STOCKHOLDERS EQUITY

|                                                          |   | August
        31, 2002 |  |   | February
        28, 2002 | 
|--------------------------------------------------------- | - | ----------------------- |  | - | ------------------------- | 
|                                                          |   |                         |  |   |                           | 
|Liabilities                                               | $ | ---                     |  | $ | ---                       | 
|                                                          |   |                         |  |   |                           | 
|                                                          |   |                         |  |   |                           | 
|                                                          |   |                         |  |   |                           | 
|TOTAL
      LIABILITIES                                   | $ | ---                     |  | $ | ---                       | 
|                                                          |   |                         |  |   |                           | 
|                                                          |   |                         |  |   |                           | 
|                                                          |   |                         |  |   |                           | 
|STOCKHOLDERS
      EQUITY                                |   |                         |  |   |                           | 
|                                                          |   |                         |  |   |                           | 
|Common
      Stock, $0.0001 par value, 100 Million        |   |                         |  |   |                           | 
|shares
      authorized, 5,000,000 issued and outstanding | $ | 210                     |  | $ | 210                       | 
|                                                          |   |                         |  |   |                           | 
|Accumulated
      Deficit                                 |   | ---                     |  |   | ---                       | 
|                                                          |   |                         |  |   |                           | 
|                                                          |   |                         |  |   |                           | 
|Total
      Stockholders Equity                          | $ | 210                     |  | $ | 210                       | 
|                                                          |   |                         |  |   |                           | 
|                                                          |   |                         |  |   |                           | 
|                                                          |   |                         |  |   |                           | 
|TOTAL
      LIABILITIES AND                               |   |                         |  |   |                           | 
|STOCKHOLDERS
      EQUITY                                | $ | 210                     |  | $ | 210                       | 
|                                                          |   |                         |  |   |                           | 

See
  Accompanying Notes To The Financial Statements

---

CORSEA
  MANAGEMENT INC.
  (A Development Stage Company)

STATEMENT
  OF OPERATIONS
  (For the six months ended August 31, 2002)
  (Unaudited)

|                             |   | August
      31, 2002 |   | February
      28, 2002
|---------------------------- | - | --------------------- | - | -----------------------
|                             |   |                       |   |                        
|                             |   |                       |   |                        
|                             |   |                       |   |                        
|Income                       | $ | ---                   | $ | ---                    
|                             |   |                       |   |                        
|TOTAL
      INCOME           | $ | ---                   | $ | ---                    
|                             |   |                       |   |                        
|Expenses                     |   |                       |   |                        
|                             |   |                       |   |                        
|Organizational
      Expense |   | ---                   |   | ---                    
|                             |   |                       |   |                        
|                             |   |                       |   |                        
|TOTAL
      EXPENSES         | $ | ---                   | $ | ---                    
|                             |   |                       |   |                        
|                             |   |                       |   |                        
|NET
      LOSS               | $ | ---                   | $ | ---                    
|                             |   |                       |   |                        
|                             |   |                       |   |                        

See
  Accompanying Notes To The Financial Statements

---

CORSEA
  MANAGEMENT INC.
  (A DEVELOPMENT STAGE COMPANY)

STATEMENT
  OF CHANGES IN STOCKHOLDERS EQUITY(For
  the Six Month Period Ended August 31, 2002)
  (Unaudited)

|                                                      |   | Common |  |   | Accumulated |  |   | Total
|----------------------------------------------------- | - | ------ |  | - | ----------- |  | - | -----
|                                                      |   | Stock  |  |   | Deficit     |  |   |      
|                                                      |   |        |  |   |             |  |   |      
|                                                      |   |        |  |   |             |  |   |      
|Common
      Stock Issuance                           | $ | 210    |  | $ | ---         |  | $ | 210  
|                                                      |   |        |  |   |             |  |   |      
|                                                      |   |        |  |   |             |  |   |      
|Net
      Loss For The Period Ended August 31, 2002   |   | ---    |  |   | ---         |  |   | ---  
|                                                      |   |        |  |   |             |  |   |      
|                                                      |   |        |  |   |             |  |   |      
|Net
      Loss For The Period Ended February 28, 2002 |   | ---    |  |   | ---         |  |   | ---  
|                                                      |   |        |  |   |             |  |   |      
|                                                      |   |        |  |   |             |  |   |      
|BALANCE
      as at August 31, 2002                   | $ | 210    |  | $ | ---         |  | $ | ---  
|                                                      |   |        |  |   |             |  |   |      
|                                                      |   |        |  |   |             |  |   |      

See
  Accompanying Notes To The Financial Statements

---

CORSEA
  MANAGEMENT INC. 
  (A DEVELOPMENT STAGE COMPANY)

STATEMENT
  OF CASH FLOWSAugust
  31, 2002
  (Unaudited)

|                                                 |   | August
        31, 2002 |  |   | February
        28, 2002 | 
|------------------------------------------------ | - | ----------------------- |  | - | ------------------------- | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|CASH
      FLOW FROM OPERATING ACTIVITIES:       |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|Net
      Loss From Operations                   | $ | ---                     |  | $ | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|Adjustment
      to reconcile net loss to net    |   | ---                     |  |   | ---                       | 
|cash
      used in operating activities          |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|Net
      cash used in operating activities      |   | ---                     |  |   | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|CASH
      FLOW FROM INVESTING ACTIVITIES:       |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|Capitalized
      incorporation costs            | $ | ---                     |  | $ | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|Net
      cash provided by financing activities  | $ | ---                     |  | $ | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|CASH
      FLOW FROM FINANCING ACTIVITIES:       |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|Proceeds
      from the issuance of common stock | $ | ---                     |  | $ | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|Net
      cash provided by financing activities  | $ | ---                     |  | $ | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|INCREASE
      (DECREASE) IN CASH                |   |                         |  |   |                           | 
|AND
      CASH EQUIVALENTS                       | $ | ---                     |  | $ | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|CASH
      AND CASH EQUIVALENTS                  |   |                         |  |   |                           | 
|BEGINNING
      OF PERIOD                        | $ | ---                     |  | $ | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 
|CASH
      AND CASH EQUIVALENTS                  |   |                         |  |   |                           | 
|END
      OF PERIOD                              | $ | ---                     |  | $ | ---                       | 
|                                                 |   |                         |  |   |                           | 
|                                                 |   |                         |  |   |                           | 

See
  Accompanying Notes To The Financial Statements

---

CORSEA
  MANAGEMENT INC.
  (A DEVELOPMENT STAGE COMPANY)

Notes
  to the Interim Financial Statements
  For the Six Month Period Ended August 31, 2002

Note 1 -
  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1.SIGNIFICANT
  ACCOUNTING POLICIES

> A. Basis
>     of Presentation

The
  financial statements have been prepared in accordance with generally accepted
  accounting principles in Canada and are reported in U.S. dollars. There are
  no significant differences from generally accepted accounting principles in
  the United States and the rules and regulations promulgated by the Securities
  and Exchange Commission. These statements are prepared in accordance with FederalRegulation
  S-X, Part 210, Article 3-11(Form and Content of and Requirements for Financial
  Statements under the Securities Act of 1933 and the Securities Exchange Act
  of 1934 for Registrants which meet the definition of Inactive). Amounts reported
  in the Statements of Operations and Deficit and Cash Flows for the quarterly
  period ended August 31, 2002 are cumulative from the date of the Company's incorporation,
  March 3, 2000.

The
  Company's year-end is February 28.

> B. Organization
>     and Business Operations

Corsea
  Management Inc. (the "Company") was incorporated in Delaware on March 3, 2000
  as a development stage company that has no specific business plan or purpose
  or has indicated that its business plan is to engage in a merger or acquisition
  with an unidentified company or companies ("blank check") and is issuing "penny
  stock" securities. In a development state company, management devotes most of
  its activities to investigating business opportunities. The ability of the company
  to emerge from the development stage with respect to any prospective principal
  business activity is dependant upon its successful efforts to complete additional
  equity or debt financings and find an appropriate merger or acquisition candidate.
  As at August 31, 2002 the company had not yet commenced any formal business
  operations.

> C. Use
>     of Estimates

The
  preparation of the financial statements in conformity with generally accepted
  accounting principles requires management to make estimates and assumptions
  that affect the reported amounts of assets and liabilities and disclosure of
  contingent assets and liabilities at the date of the financial statements and
  the reported amounts of revenues and expenses during the reporting period. Actual
  results could differ from those estimates.

---

> D. Cash
>     and Cash Equivalents

For
  purposes of The Statement of Cash Flows, the Company considers all highly liquid
  investments purchased with an original maturity of three months or less at the
  time of issuance to be cash equivalents.

> E. Income
>     Taxes

The
  Company accounts for income taxes under the Financial Accounting Standards Board
  of Financial Accounting Standards Statement No. 109, "Accounting for Income
  Taxes". 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 basis. 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 that includes the enactment date. There were no current
  or deferred income tax expenses or benefits due to the Company not having any
  material operations for the six month period ended August 31, 2002.

> F. New
>     Accounting Procedures

The
  Financial Accounting Standards Board has recently issued several new accounting
  pronouncements. Statement No. 129, "Disclosure of Information about Capital
  Structure" establishes standards for disclosing information about an entity's
  capital structure, is effective for financial statements for periods ending
  after December 15, 1998 and has been adopted by the Company. Statement No. 130,
  "Reporting Comprehensive Income", establishes standards for reporting and display
  of comprehensive income and its components, and is effective for fiscal years
  beginning after December 15, 1997.

Statement
  No. 131, "Disclosure about Segments of an Enterprise and Related Information"
  establishes standards for the way that public business enterprises report information
  about operating segments in annual financial statements and requires that those
  enterprises report selected information about operating segments in interim
  financial reports issued to shareholders. It also establishes standards for
  related disclosures about products and services, geographic areas, and major
  customers, and is effective for financial statements for periods beginning after
  December 15, 1997. The Company believes that its adoption of Statements 130
  and 131 will not have a material effect on the Company's financial position
  or results of operations.

NOTE 2 - STOCKHOLDERS' EQUITY

> A.. Common
>     Stock

The
  Company is authorized to issue 100,000,000 shares of common stock with a $0.0001
  par value. The Company issued 5,000,000 shares to a former director of the Company,
  pursuant to Rule 506, for a total consideration of $210. On October 9, 2002,
  the 5,000,000 common shares were transferred to D. Gary Fife, President, as
  to 2,500,000 shares and to William Whittle, Vice-President and Secretary, as
  to 2,500,000 shares.

---

> B. Stockholders'
>     Equity

At
  inception, the Company issued 5,000,000 shares of its $0.0001 common stock to
  the sole director and officer as reimbursement for the organizational costs
  paid by the director. Fair value used for this transaction of $210 was based
  upon the actual cost of incorporation.

NOTE 3 -
  RELATED PARTIES

The
  Company has not engaged legal counsel or an auditor as of the date of this report.
  Legal and accounting services are provided to the Company by the Board of Directors
  without compensation.

An
  agreement to provide services to the Company by a former director has terminated
  effective October 9, 2002, the date of his resignation as a director and officer.
  No amount is owing under this agreement.

ITEM 2. MANAGEMENT'S
  PLAN OF OPERATION

Plan
  of Operation

The
  Company's plan of operation is to merge with or acquire a business entity in
  exchange for the Company's share capital. The Company has no particular acquisition
  in mind and has not entered into any negotiations regarding such an arrangement.
  No assurances can be given that the Company will be successful in locating or
  negotiating with any target company or business.

The
  Company's purpose is to seek, investigate and, if such investigation warrants,
  acquire an interest in a business entity which desires to seek the potential
  advantages of a corporation which has a class of securities registered under
  the Securities and Exchange Act. The Company will not restrict its search for
  any specific kind of business entity, but may acquire a venture which is in
  its preliminary or development stage or which is already conducting business
  operations as a going concern. It is impossible to predict at this time the
  nature and status of any business in which the Company may become engaged in
  that such business may need to seek additional capital, may desire to have its
  shares publicly traded, or may seek other perceived benefits of a publicly registered
  corporation. Such perceived benefits may include facilitating or improving the
  terms on which additional equity financing may be sought, providing liquidity
  for incentive stock options or similar benefits to employees, increasing the
  opportunity to use securities for acquisitions, providing liquidity for shareholders
  and other factors.

The
  analysis of any business opportunities will be undertaken by, or under the supervision
  of the directors of the Company both of whom have received university education
  in commerce and together have many years of work experience in corporate finance,
  business analysis and public company governance. The President, Mr. D. Gary
  Fife holds a Masters of Business Administration Degree from Western University
  Ontario and is a Chartered Financial Analyst. The Vice- President and Secretary,
  Mr. William Whittle, holds a Bachelor of Commerce degree from the University
  of British Columbia.

The
  Company may enter into a business arrangement with a business entity or company
  that desires to establish a public trading market for its share capital. A target
  company may attempt to avoid what it deems to be adverse consequences of undertaking
  its own public offering by seeking a business combination with the Company.
  Such consequences may include, but are not limited to, time delays of the registration
  process, significant expenses to be incurred in such an offering, loss of voting
  control to public shareholders or the inability to obtain an underwriter or
  to obtain an underwriter on satisfactory terms.

---

In
  implementing a structure for a particular business acquisition, the Company
  may become a party to a merger, consolidation, re-organization, joint venture,
  or licensing agreement with another corporation or entity. It may also acquire
  stock or assets of an existing business.

The
  Company will participate in a business opportunity only after the negotiation
  and execution of appropriate agreements. The Company will not acquire or merge
  with any entity which cannot provide audited financial statements at or within
  a reasonable period of time after closing of the proposed transaction.

It
  is anticipated that any securities issued in any business arrangement would
  be issued in reliance upon exemption from registration under applicable federal
  and state securities laws. In some circumstances, however, as a negotiated element
  of its transaction, the Company may agree to register all or a part of such
  securities immediately after the transaction has completed or t specified time
  thereafter. If such registration occurs, of which there can be no assurance,
  it will be undertaken by the surviving entity after the Company has entered
  into an agreement for a business combination or has completed a business combination
  and the company is no longer considered a 'blank check' company. The issuance
  of additional securities and their potential sale into any trading market which
  may develop in the Company's securities may depress the market value of the
  Company's securities in the future if such a market develops, of which there
  can be no assurance.

|PART
      11 - OTHER INFORMATION
|---------------------------------
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**SIGNATURES**

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

|                              |  | **CORSEA
      MANAGEMENT INC.**                   
|----------------------------- |  | ---------------------------------------------------
|Dated:
      October 15, 2002 |  |                                                    
|                              |  | By:/s/D.
      Gary Fife                           
|                              |  |                                                    
|                              |  | D. Gary
      Fife, President                      
|                              |  |                                                    
|                              |  |                                                    
|                              |  | By:/s/William
      Whittle                        
|                              |  | William Whittle,
      Vice-President and Secretary
|                              | 
|                              |  |                                                    

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