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 March 31, 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 [ ] No [X]

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock as the latest practicable date:

                12,745,090 shares of Common Stock, $.001 par value per share.

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



<PAGE>2


                            TRANSAMERICAN HOLDINGS,INC.

                                      INDEX
<TABLE>
<S>                                                                                                             <C>

Part I.   Financial Information...................................................................................3
   Item 1.   Financial Statements.................................................................................3
                    Balance Sheets................................................................................3
                    Statements of Operations......................................................................5
                    Statement of Changes in Stockholders'Equity...................................................6
                    Statement of Cash Flows.......................................................................7
                    Notes to Financial Statements.................................................................8
   Item 2 -Management's Discussion and Analysis of Financial Condition and Results of Operation..................11
Part II.   Other Information.....................................................................................12
   Item 1     Legal Proceedings..................................................................................12
   Item 2     Changes in the Rights of the Company's Security Holders............................................12
   Item 3     Defaults by the Company on its Senior Securities...................................................12
   Item 4     Results of Votes of Security Holders...............................................................12
   Item 5     Other Information..................................................................................12
   Item 6     Exhibits and Reports on Form 8-K...................................................................12
Signatures.......................................................................................................12

</TABLE>

<PAGE>3

PART I.   FINANCIAL INFORMATION

Item 1.   Financial Statements


                                 BALANCE SHEETS

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


<TABLE>
<S>                                                   <C>                <C>              <C>

                                                             March             December         December
                                                            31, 2000          31, 1999          31, 1998
                                                       ----------------  ---------------  ----------------
CURRENT ASSETS

     CASH                                              $        292,803  $         9,200  $              0
                                                       ----------------  ---------------  ----------------
     TOTAL CURRENT ASSETS                              $        292,803  $         9,200  $              0
                                                       ----------------  ---------------  ----------------

OTHER ASSETS                                           $              0  $             0  $              0
                                                       ----------------  ---------------  ----------------
     TOTAL OTHER ASSETS                                $              0  $             0  $              0
                                                       ----------------  ---------------  ----------------
TOTAL ASSETS                                           $        292,803  $         9,200  $              0
                                                       ----------------  ---------------  ----------------




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


                      LIABILITIES AND STOCKHOLDERS' EQUITY

                                                             March            December         December
                                                           31, 2000           31, 1999         31, 1998
                                                       ----------------  ---------------  ----------------

CURRENT LIABILITIES

     Advances Payable (Note #5)                        $          2,009  $             0  $              0
                                                       ----------------  ---------------  ----------------
     TOTAL CURRENT LIABILITIES                         $          2,009  $             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

     March 31, 2000 -
     12,745,090 shares                                 $         12,745

     Additional Paid-In Capital                                 302,600            3,000                 0

     Deficit accumulated during
     the development stage                                      -24,551           -5,100            -5,000
                                                       ----------------  ---------------  ----------------
TOTAL STOCKHOLDERS' EQUITY                             $        290,794  $         9,200  $         -3,025
                                                       ----------------  ---------------  ----------------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY                                   $        292,803  $         9,200  $              0
                                                       ----------------  ---------------  ----------------


</TABLE>

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

<PAGE>4



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


                             STATEMENT OF OPERATIONS

<TABLE>
<S>                                  <C>                <C>              <C>               <C>

                                          Jan. 1,            Year              Year          Jul.22,1996
                                         2000, to            Ended             Ended         (Inception)
                                         Mar. 31,          Dec. 31,          Dec. 31,        to Mar. 31,
                                           2000              1999              1998             2000
                                     ----------------  ----------------  ---------------  ----------------


INCOME
Revenue                              $              0  $              0  $             0  $              0
                                     ----------------  ----------------  ---------------  ----------------
EXPENSES

General, Selling and
Administrative                       $         19,451  $            100  $             0  $         24,551
                                     ----------------  ----------------  ---------------  ----------------

         TOTAL EXPENSES              $         19,451  $            100  $             0  $         24,551
                                     ----------------  ----------------  ---------------  ----------------

NET PROFIT/LOSS (-)                  $        -19,451  $           -100  $             0  $        -24,551
                                     ----------------  ----------------  ---------------  ----------------


Net Loss per share -
 Basic and diluted
 (Note #2)                           $         -.0017  $            NIL  $           NIL  $         -.0082
                                     ----------------  ----------------  ---------------  ----------------

Weighted average
number of common
shares outstanding                         11,569,962         3,352,603        2,000,000         3,011,539
                                     ----------------  ----------------  ---------------  ----------------

</TABLE>


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

<PAGE>5



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


                  STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

<TABLE>
<S>                                   <C>               <C>             <C>               <C>


                                                                            Additional         Accumu-
                                          Common             Stock            paid-in           lated
                                          Shares            Amount            Capital          Deficit
                                      ---------------  ----------------  ---------------  ----------------


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

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

Net loss year ended
March 31, 2000                                                                                     -19,451
                                      ---------------  ----------------  ---------------  ----------------
Balance,
March 31, 2000                         12,745,090      $         12,745  $       302,600  $         24,551
                                      ---------------  ----------------  ---------------  ----------------
</TABLE>


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



<PAGE>6
                          TRANSAMERICAN HOLDINGS, INC.
                        (Formerly Health Research, LTD.)
                          (A Development Stage Company)


                             STATEMENT OF CASH FLOWS

<TABLE>
<S>                                  <C>                <C>             <C>              <C>

                                          Jan 1,             Year              Year          Jul.22,1996
                                         2000, to            Ended             Ended         (Inception)
                                         Mar. 31,          Dec. 31,          Dec. 31,        to Mar. 31,
                                           2000              1999              1998             2000
                                      ---------------- ----------------  ---------------  -----------------
Cash Flows from
Operating Activities

     Net Loss                         $       -19,451  $           -100  $             0  $        -24,551

     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                                                           0                0                 0

     Increase in current
     Liabilities                               +2,009                 0                0            +2,009
                                      ---------------- ----------------  ---------------  -----------------
Net cash used in
Operating activities                  $       -13,942  $              0  $             0  $        -13,942

Cash Flows from
Investing Activities                                                  0                0                 0

Cash Flows from
Financing Activities

     Issuance of Common
     Stock for Cash                          +297,545            +9,200                0           306,745
                                      ---------------- ----------------  ---------------  -----------------

Net Increase (decrease)               $      +283,603  $          9,200  $             0  $       +292,803

Cash,
Beginning of period                             9,200                 0                0                 0
                                      ---------------- ----------------  ---------------  -----------------
Cash, End of Period                   $       292,803  $          9,200  $             0  $        292,803
                                      ---------------- ----------------  ---------------  -----------------


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


</TABLE>


<PAGE>7


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


                          NOTES TO FINANCIAL STATEMENTS

            March 31, 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.


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    cash    balances   in   various
                  interest-bearing  bank accounts  that do not exceed  federally
                  insured  limits.  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 March 31, 2000.

         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.

         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 March 31, 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.


<PAGE>8

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


                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
            March 31, 2000, December 31, 1999, and December 31, 1998


NOTE 3 - INCOME TAXES

         There is no  provision  for income taxes for the period ended March 31,
         2000, due to the net loss and no state income tax in Nevada,  the state
         of the Company's domicile and operations.

         The  Company's  total  deferred  tax asset as of March  31,  2000 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 2008 to 2019.

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


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  November  15,  1999,  the  Company  changed  its name  from  Health
         Research, LTD., to Transamerican Holdings, Inc.

         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  $0.0001  to
         100,000,000 common shares with a par value of $0.0001.

<PAGE>9


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


                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
            March 31, 2000, December 31, 1999, and December 31, 1998


NOTE 4 - STOCKHOLDERS' EQUITY (CONTINUED)

         On March 15,  2000,  the Company  issued  350,000  shares of its 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
         $47,545.


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,  at this time,  the Company
         does have significant working capital sufficient to cover its operating
         costs and to allow it to continue as a going concern.  It is the intent
         of the Company to acquire an existing, operating company.


NOTE 7 - RELATED PARTY TRANSACTIONS

         The Company does not own any real property. The officers of the Company
         provide executive and administrative services without charge.



<PAGE>10



Item 2.

                           TRANSAMERICAN HOLDINGS, INC.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATION

      Although  the  Company  has not  acquired  an  on-going  business,  it has
commenced   business   activities  and  is  reviewing  several   businesses  for
acquisition.  The Company  believes that it has  sufficient  working  capital to
cover its operating costs until an on-going business is acquired.

      If the  current  funds  are not  enough  to  meet  any  obligation,  Najib
Choufani, an officer,  director and controlling  shareholder of the Company, has
agreed to provide the  necessary  funds,  without  interest,  for the Company to
comply with the Securities Exchange Act of 1934, as amended, provided that he is
an officer and director of the Company  when the  obligation  is  incurred.  All
advances are interest-free.

         Since the Company has no earnings  from  operations,  the Company  will
continue  to sustain  nominal  losses  until the Company can acquire an on-going
business.


<PAGE>11

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 2, 2000                 /s/ MICHAEL SAVAGE
                                     ---------------------------------
                                     Michael Savage
                                     President