U.S. SECURITIES AND EXCHANGE COMMISSION
                      Washington, DC  20549
                      ---------------------
                           FORM 10-QSB
                      ---------------------

(Mark One)

     [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
          SECURITIES AND EXCHANGE ACT OF 1934 for the Quarterly
          period ended September 30, 2001.

     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 No. 000-29933


                  TRANSAMERICAN HOLDINGS, INC.
      ----------------------------------------------------
         (Name of Small Business Issuer in its Charter)


Nevada, U.S.A.                                         77-0434471
(State or other Jurisdiction                        (IRS Employer
of Incorporation or Organization)             Identification No.)


9601 Wilshire Boulevard, Suite 620, Beverly Hills, California 90210
             (Address of principal executive offices)


                          (310) 271-4159
                    (Issuer's telephone number)


 Check whether the registrant (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 [ ]


 As  of  the  date  of this filing, the Company had  approximately
 17,171,090   issued  and  16,321,090  shares  of   Common   Stock
 outstanding.
 <PAGE>


                  TRANSAMERICAN HOLDINGS, INC.

                          FORM 10-QSB

                       September 30, 2001

                       TABLE OF CONTENTS


 Part I.   Financial Information
 -------
 Item 1.   Financial Statements

           Balance Sheet as of September 30, 2001 (unaudited).

           Statements of Operations for the three and nine  months
           ended September 30, 2001 (unaudited) and September  30,
           2000 (unaudited) and from inception on July 22, 1996 to
           September 30, 2001 (unaudited).

           Statement  of Stockholders' Equity for the Period  from
           inception to September 30, 2001 (unaudited).

           Statements  of  Cash Flows for the  nine  months  ended
           September 30, 2001 (unaudited) and September  30,  2000
           (unaudited)  and  from inception on July  22,  1996  to
           September 30, 2001 (unaudited).

           Notes to Financial Statements.

Item 2.   Managements Discussion and Analysis or Plan of
          Operation


Part II.  Other Information
--------
Item 1.   Legal Proceedings

Item 2.   Changes in Securities

Item 3.   Defaults upon Senior Securities

Item 4.   Submission of Matters to a Vote of Security holders

Item 5.   Other Information

Item 6.   Exhibits and reports on form 8-K

          SIGNATURES

<PAGE>

       SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

     This  quarterly  report  on form 10-QSB  contains  "forward-
looking  statements" within the meaning of  Section  27A  of  the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934.  Statements of our intentions, beliefs, expectations
or  predictions for the future, denoted by the words  "believes,"
"expects,"   "may,"  "will,"  "should,"  "seeks,"  "pro   forma,"
"anticipates,"    "intends"   and   similar    expressions    are
forward-looking statements that reflect our current  views  about
future  events  and  are  subject  to  risks,  uncertainties  and
assumptions.

     We  wish  to  caution  readers  that  these  forward-looking
statements  are not guarantees of future performance and  involve
risks  and  uncertainties.  Actual events or results  may  differ
materially from those discussed in the forward-looking statements
as  a  result  of various factors, including, without limitation,
the  risk  factors  and other matters contained  in  this  annual
report    generally.    All   subsequent   written    and    oral
forward-looking statements attributable to us or  persons  acting
on  our  behalf are expressly qualified in their entirety by  the
cautionary statements included in this document.  We undertake no
obligation  to  publicly  update or  revise  any  forward-looking
statements, whether as a result of new information, future events
or otherwise.



                             PART I


ITEM 1.   FINANCIAL STATEMENTS.


                  TRANSAMERICAN HOLDINGS, INC.
                (A DEVELOPMENT STAGE ENTERPRISE)

                      FINANCIAL STATEMENTS

              THREE MONTHS ENDED SEPTEMBER 30, 2001


                            CONTENTS

                                                       Page

Financial Statements:
  Balance Sheet
                                                       2
  Statement of Operations
                                                       3
  Statement of Stockholders' Equity
                                                       4
  Statement of Cash Flows
                                                       5
  Notes to Financial Statements
                                                       6-7



<PAGE>

<TABLE>
                               TRANSAMERICAN HOLDINGS, INC.
                             (A DEVELOPMENT STAGE ENTERPRISE)

                            BALANCE SHEET - SEPTEMBER 30, 2001
                                       (UNAUDITED)

                                          ASSETS
<S>
                                                                      <C>
                                                                      <C>

Current assets:
  Cash
                                                            $    480,366
  Other receivables                                           3,806
  Notes receivable
                                                            60,000
  Note receivable, Certified Satellite Installers, Inc.      90,000
  Notes receivable, related parties
                                                            157,296
                                                        -----------

          Total current assets
                                                                 $      791,468

Property and equipment, net of
  accumulated depreciation and amortization
                                                                 9,443

Cash - restricted
                                                                      30,960
                                                                    -----------

                                                                    $   831,871
                                                                    ===========


                           LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable and accrued expenses                                $
                                                       46,507
  10% note payable, officer
                                                            21,540
                                                        -----------

          Total current liabilities
                                                                      $
                                                                      68,047

Stockholders' equity:
  Common stock; $.001 par value, 100,000,000
   shares authorized, 17,171,090 shares issued
   and 16,321,090 outstanding                                               $
                                                       16,321
  Subscriptions receivable
                                                       (83,750)
  Additional paid-in capital
                                                       1,553,097
  Deficit accumulated during development stage                  (721,844)
                                                        -----------

          Total stockholders' equity
                                                                      763,824
                                                                    -----------

                                                                    $   831,871
                                                                    ===========


</TABLE>
<PAGE>                                      1

<TABLE>
                          TRANSAMERICAN HOLDINGS, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)

                            STATEMENTS OF OPERATIONS


<S>
                                                                      <C>
                                                                      <C>
                                                                      <C>
                                                                      From
inception on
                                   For the three months ended              July
                                                                      22, 1996
                                                                      to
                              September 30, 2001                      September
                                                                      30, 2000
                                                                      September
                                                                      30, 2001
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------
                                (Unaudited)         (Unaudited)
(Unaudited)

Net revenues
                                                                                     $
                                                                                     -
                                                                                     $
                                                                                     -
                                                                                     $
                                                                                     -

Cost of sales
                                                                                     -
                                                                                     -
                                                                                     -
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------
Gross profit
                                                                                -
                                                                                -
                                                                                -

General and administrative
 expenses                                                 125,055
                              135,121                  749,230
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------

Net loss from operations
before interest income                    (125,055)          (135,121)
                              (749,230)

Interest income                         6,163                  -
27,530

Net loss                                                                   $
                                                       (118,892)      $
                                                       (135,121) $
                                                       (721,700)
                              ===============                         ==========
                                                                      ====
                                                                      ==========
                                                                      =======

Net loss per share,
 basic and diluted                                               $
                                                       (0.01)    $        (0.01)
                              ===============     ==============

Weighted average number
 of shares outstanding,
 basic and diluted                                               16,321,090
                                                  16,056,699
                              ===============                    ==============

</TABLE>
<PAGE>                                      2

<TABLE>
                          TRANSAMERICAN HOLDINGS, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)

                            STATEMENTS OF OPERATIONS


<S>
                                                                      <C>
                                                                      <C>
                                                                      <C>
                                                                      From
inception on
                                   For the nine months ended               July
                                                                      22, 1996
                                                                      to
                              September 30, 2001  September 30, 2000  September
30, 2001
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------
                                (Unaudited)         (Unaudited)
(Unaudited)

Net revenues
                                                                                     $
                                                                                     -
                                                                                     $
                                                                                     -
                                                                                     $
                                                                                     -

Cost of sales
                                                                                     -
                                                                                     -
                                                                                     -
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------
Gross profit
                                                                                -
                                                                                -
                                                                                -

General and administrative
 expenses                                                 424,282
                              319,504                  749,230

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

Net loss from operations
before interest income                    (424,282)          (319,504)
                              (749,230)

Interest income                        27,530                  -
27,530

Net loss                                                                   $
                                                       (396,752)      $
                                                       (319,504) $
                                                       (721,700)
                              ===============                         ==========
                                                                      ====
                                                                      ==========
                                                                      =======

Net loss per share,
 basic and diluted                                               $
                                                       (0.02)    $        (0.02)
                              ===============     ==============

Weighted average number
 of shares outstanding,
 basic and diluted                                               16,321,090
                                                  14,009,069
                              ===============                    ==============

</TABLE>
<PAGE>                                      3

<TABLE>

                          TRANSAMERICAN HOLDINGS, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)

                        STATEMENT OF STOCKHOLDERS' EQUITY




<S>                                                                                                <C>
                                                                             <C>      <C>       <C>
                                                                             <C>           <C>
                                                                   Deficit
                                                                   accumulated
Total
                Common stock                                                          Additional
                                                                                  during   stock-
            ----------------------                   paid-in      Subscription
                                                    development   holders'
            Shares
                                                                                  Am
                                                                                  ou
                                                                                  nt        capital
                                                                                  receivable     stage
                                                                                  equity
            ------------------------------------------------------------------------
----------

Balance at
 January 1, 2000                                                           11,300,000   $
                                                                   11,300   $
                                                                   3,000         $         $   (5,100)
                                                                   $     9,200

Issuance of common stock
 for cash during
 March 2000                                                                                    1,445,090 1,445
                                                                                  296,100
                                                                                  297,545

Issuance of common stock
 for cash during
 April 2000                                                                                      230,000   230
                                                                                  114,770
                                                                                  115,000

Issuance of common stock
 for cash during
 May 2000                                                                                           1,918,000
                                                                                  1,918      670,790
                                                                                  672,708

Issuance of common stock
 for cash during
 June 2000
                                                                           913,0
                                                                           00
                                                                           913
                                                                           142,1
                                                                           50
                                                                           143,0
                                                                           63

Issuance of common stock
 for cash during
 July 2000
                                                                                          4
                                                                                          6
                                                                                          5
                                                                                          ,
                                                                                          0
                                                                                          0
                                                                                          0
                                                                                          4
                                                                                          6
                                                                                          5
                                                                                          2
                                                                                          2
                                                                                          6
                                                                                          ,
                                                                                          3
                                                                                          3
                                                                                          7
                                                                                          (
                                                                                          3
                                                                                          3
                                                                                          ,
                                                                                          7
                                                                                          5
                                                                                          0
                                                                                          )
                                                                                          1
                                                                                          9
                                                                                          3
                                                                                          ,
                                                                                          0
                                                                                          5
                                                                                          2

Net loss for
 the year ended
 December 31, 2000
                                                                           (319,
                                                                           992)
                                                                           (319,
                                                                           992)
                    ----------   --------  -----------         ---------    ----
-----     -----------
Balance at
 December 31, 2000                                                                        1
                                                                                          6
                                                                                          ,
                                                                                          2
                                                                                          7
                                                                                          1
                                                                                          ,
                                                                                          0
                                                                                          9
                                                                                          0
                                                                                          $
                                                                                          1
                                                                                          6
                                                                                          ,
                                                                                          2
                                                                                          7
                                                                                          1
                                                                                          $
                                                                                          1
                                                                                          ,
                                                                                          4
                                                                                          5
                                                                                          3
                                                                                          ,
                                                                                          1
                                                                                          4
                                                                                          7
                                                                                          $
                                                                                          (
                                                                                          3
                                                                                          3
                                                                                          ,
                                                                                          7
                                                                                          5
                                                                                          0
                                                                                          )
                                                                                          $
                                                                                          (
                                                                                          3
                                                                                          2
                                                                                          5
                                                                                          ,
                                                                                          0
                                                                                          9
                                                                                          2
                                                                                          )
                                                                                          $
                                                                                          1
                                                                                          ,
                                                                                          1
                                                                                          1
                                                                                          0
                                                                                          ,
                                                                                          5
                                                                                          7
                                                                                          6
                    ----------   --------  -----------         ---------    ----
-----     -----------

Issuance of common stock
 for cash during
 June 2001
 (Unaudited)
                                                                                          5
                                                                                          0
                                                                                          ,
                                                                                          0
                                                                                          0
                                                                                          0
                                                                                          5
                                                                                          0
                                                                                          9
                                                                                          9
                                                                                          ,
                                                                                          9
                                                                                          5
                                                                                          0
                                                                                          (
                                                                                          5
                                                                                          0
                                                                                          ,
                                                                                          0
                                                                                          0
                                                                                          0
                                                                                          )
                                                                                          5
                                                                                          0
                                                                                          ,
                                                                                          0
                                                                                          0
                                                                                          0

Net loss for the
 nine months ended
 September 30, 2001
 (Unaudited)
                                                                           (396,
                                                                           752)
                                                                           (396,
                                                                           752)
                    ----------   --------  -----------         ---------    ----
-----     -----------

Balance at
 September 30, 2001
 (Unaudited)
                                                                                          1
                                                                                          6
                                                                                          ,
                                                                                          3
                                                                                          2
                                                                                          1
                                                                                          ,
                                                                                          0
                                                                                          9
                                                                                          0
                                                                                          $
                                                                                          1
                                                                                          6
                                                                                          ,
                                                                                          3
                                                                                          2
                                                                                          1
                                                                                          $
                                                                                          1
                                                                                          ,
                                                                                          5
                                                                                          5
                                                                                          3
                                                                                          ,
                                                                                          0
                                                                                          9
                                                                                          7
                                                                                          $
                                                                                          (
                                                                                          8
                                                                                          3
                                                                                          ,
                                                                                          7
                                                                                          5
                                                                                          0
                                                                                          )
                                                                                          $
                                                                                          (
                                                                                          7
                                                                                          2
                                                                                          1
                                                                                          ,
                                                                                          8
                                                                                          4
                                                                                          4
                                                                                          )
                                                                                          $
                                                                                          7
                                                                                          6
                                                                                          3
                                                                                          ,
                                                                                          8
                                                                                          2
                                                                                          4
                    ==========   ========  ===========         =========
=========     ===========


       </TABLE>
       <PAGE>                                     3

       <TABLE>
                          TRANSAMERICAN HOLDINGS, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)

                            STATEMENTS OF CASH FLOWS

                INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS


<S>
                                                                      <C>
                                                                      <C>
                                                                      <C>
                                                                      From
inception on
                                   For the nine months ended               July
                                                                      22, 1996
                                                                      to
                              September 30, 2001                      September
                                                                      30, 2000
                                                                      September
                                                                      30, 2001
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------
                                (Unaudited)         (Unaudited)
(Unaudited)
Cash flows provided by
 (used for) operating
 activities:
  Net loss
                                                                      $
                                                                      (396,752)
                                                                      $
                                                                      (319,504)
                                                                      $
                                                                      (721,700)

Adjustments to reconcile net
 income (loss) to net cash
 provided by (used for)
 operating activities:
  Depreciation
                                                       1,596                  -
                                                       2,599
  Issue common stock for
   services
                                                                 -
                                                                 94,500
                                                                 94,500

Changes in assets and liabilities:
 (Increase) decrease in assets:
  Other receivables
                                                                                (
                                                                                3
                                                                                ,
                                                                                8
                                                                                0
                                                                                6
                                                                                )
                                                                                (
                                                                                1
                                                                                0
                                                                                ,
                                                                                0
                                                                                0
                                                                                0
                                                                                )
                                                                                (
                                                                                3
                                                                                ,
                                                                                8
                                                                                0
                                                                                6
                                                                                )
  Note receivable,
   Certified Satellite Installers     (90,000)                 -
(90,000)
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------

 Increase (decrease) in liabilities:
  Accounts payable
   and accrued expenses
                                                                                2
                                                                                7
                                                                                ,
                                                                                6
                                                                                6
                                                                                1
                                                                                4
                                                                                ,
                                                                                1
                                                                                9
                                                                                3
                                                                                4
                                                                                6
                                                                                ,
                                                                                3
                                                                                8
                                                                                4
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------

  Total adjustments                   (64,549)            88,693
49,677
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------
     Net cash (used for)
     operating activities
                                                                           (461,
                                                                           301)
                                                                           (230,
                                                                           811)
                                                                           (672,
                                                                           023)
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------

Cash flows provided by
 (used for) investing
 activities:
  Acquisition of property
   and equipment                                      (2,014)            (8,186)
                                   (12,042)
  Notes receivable                          -            (10,000)
                                                                           (60,0
                                                                           00)
  Notes receivable,
   related parties                   (142,296)           (10,000)
(157,296)
  Restricted cash                        (295)                 -
(30,960)
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------

     Net cash (used for)
     investing activities
                                                                           (144,
                                                                           605)
                                                                           (28,1
                                                                           86)
                                                                           (260,
                                                                           298)
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------


Cash flows provided by
 (used for) financing
 activities:
  Proceeds from sale
   of common stock
                                                                           50,00
                                                                           0
                                                                           1,420
                                                                           ,917
                                                                           1,391
                                                                           ,147
  Increase in note payable,
   officer
                                                                           11,54
                                                                           0
                                                                           10,00
                                                                           0
                                                                           21,54
                                                                           0
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------

     Net cash provided by
     financing activities
                                                                           61,54
                                                                           0
                                                                           1,430
                                                                           ,917
                                                                           1,412
                                                                           ,687
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------

Net increase (decrease) in cash                          (544,366)
                                                       1,171,920
                                                       480,366

Cash and cash equivalents,
 beginning of period                          1,024,732              9,200
                                   -
                              ---------------                         ----------
                                                                      ----
                                                                      ----------
                                                                      -------

Cash and cash equivalents,
 end of period                                                   $       480,366
                                                  $    1,181,120      $
                                                  480,366
                              ===============                         ==========
                                                                      ====
                                                                      ==========
                                                                      =======


</TABLE>
<PAGE>                                      4

                  TRANSAMERICAN HOLDINGS, INC.
                (A DEVELOPMENT STAGE ENTERPRISE)

                  NOTES TO FINANCIAL STATEMENTS

              NINE MONTHS ENDED SEPTEMBER 30, 2001




(1)  Summary of Significant Accounting Policies:

     Interim Financial Statements:

          The   accompanying  financial  statements  include  all
          adjustments   (consisting  of  only  normal   recurring
          accruals),  which  are, in the opinion  of  management,
          necessary  for  a fair presentation of the  results  of
          operations for the periods presented.  Interim  results
          are  not  necessarily indicative of the results  to  be
          expected  for  a  full year.  The financial  statements
          should  be  read  in  conjunction  with  the  financial
          statements   included   in   the   annual   report   of
          TransAmerican Holdings, Inc. (the "Company") on Form 10-
          KSB for the year ended December 31, 2000.

     General:

          TransAmerican Holdings, Inc., formerly Health Research,
          Ltd.,  was incorporated under the laws of the state  of
          Nevada  on  July  22,  1996,  and  is  conducting   its
          operations in California.

     Business Activity:

          The  Company  has  been in development  stage  and  was
          inactive  until  November 1999, at which  time  current
          management became involved.  On November 15, 1999,  the
          Company  changed  its  name to TransAmerican  Holdings,
          Inc.   The sole purpose of the Company at this time  is
          to raise capital and to locate and acquire a private on
          going business.

     Use of 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 revenues and expenses during the  reporting
          period.    Actual  results  could  differ  from   those
          estimates.

     Fair Value:

          Unless  otherwise  indicated, the fair  values  of  all
          reported   assets  and  liabilities,  which   represent
          financial  instruments, none  of  which  are  held  for
          trading  purposes, approximate the carrying  values  of
          such amounts.

     Cash:

          Equivalents
          -----------
          For  purposes  of  the statement of  cash  flows,  cash
          equivalents  include all highly liquid debt instruments
          with  original maturities of three months or less which
          are not securing any corporate obligations.

          Concentration
          -------------
          The   Company  maintains  its  cash  in  bank   deposit
          accounts, which, at times, may exceed federally insured
          limits.  The Company has not experienced any losses  in
          such accounts.



<PAGE>                         5


                  TRANSAMERICAN HOLDINGS, INC.
                (A DEVELOPMENT STAGE ENTERPRISE)

            NOTES TO FINANCIAL STATEMENTS (CONTINUED)

              NINE MONTHS ENDED SEPTEMBER 30, 2001




(1)  Summary of Significant Accounting Policies, Continued:

     Property and Equipment:

          Property   and   equipment   are   stated   at    cost.
          Expenditures for maintenance and repairs are charged to
          earnings as incurred, whereas, additions, renewals, and
          betterments   are   capitalized.  When   property   and
          equipment  are  retired or otherwise disposed  of,  the
          related  cost and accumulated depreciation are  removed
          from  the respective accounts, and any gain or loss  is
          included in operations. Depreciation is computed  using
          the  straight  line  method over the  estimated  useful
          lives of the related assets.

     Comprehensive Income:

          The  Company does not have other comprehensive  income.
          Comprehensive   loss  consists   of   net   loss   from
          operations.

     Development Stage Enterprise:

          The  Company is a development stage company as  defined
          in  Statement of Financial Accounting Standards No.  7,
          "Accounting   and   Reporting  by   Development   Stage
          Enterprises." The Company is devoting substantially all
          of  its  present efforts to establish a  new  business.
          All losses accumulated since inception of TransAmerican
          Holdings (Note 1) have been considered as part  of  the
          Company's development stage activities.

     Net Loss Per Share:

          The   Company   has  adopted  Statement  of   Financial
          Accounting Standard No. 128, Earnings per Share  ("SFAS
          No.  128"),  which is effective for annual and  interim
          financial  statements issued for periods  ending  after
          December  15,  1997.   Net  loss  per  share  has  been
          computed  using the weighted average number  of  shares
          outstanding.  As of September 30, 2001, the Company had
          no dilutive common stock such as stock options.



<PAGE>                         6


ITEM 2.   MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR   PLAN   OF
          OPERATION.

Management's Discussion and Analysis.

Results  of  OperationsThree months ended September 30,  2001  as
compared to September 30, 2000.

Revenues

     We  are a development stage company.  There were no revenues
for  the three months ended September 30, 2001 and September  30,
2000.

General and Administrative Expenses

     Total  expenses  amounted to $125,055 and $424,282  for  the
three  and  nine months ended September 30, 2001, as compared  to
$135,121  and  $319,504  for  the three  and  nine  months  ended
September  30, 2000.  The expenses resulted primarily from  costs
associated  with  our acquisition and subsequent  divestiture  of
Certified   Satellite   Installers,  Inc.   ("CSI"),   and   from
professional fees incurred by the Company in the ordinary  course
of   business   and  in  our  review  of  potential   acquisition
candidates.

Loss from Operations

     The  Company incurred a loss from operations of $125,055 for
the  three  months  ended  September 30,  2001,  as  compared  to
$135,121 at September 30, 2000.

Net loss

     The  Company had a net loss of $118,892 or $(0.01) per share
for  the  three  months ended September 30, 2001 as  compared  to
$135,121  or  $(0.01)  per  share  for  the  three  months  ended
September 30, 2000.

Liquidity and Capital Resources

     Despite the recent rescission of the acquisition of CSI,  we
still have several executed letters of intent and are in advanced
negotiations   with  various  other  domestic  and  international
entities.   These  letters of intent and  negotiations  are  with
going businesses in varied sectors of the market.

     Presently,  TransAmerican has no earnings  from  operations,
and  we  will continue to sustain nominal losses until we acquire
an   income-generating  business.   We  have  sufficient  working
capital  to  cover our operating costs until we start  generating
income  and/or we conclude an acquisition of an on-going business
that generates income.

Plan of Operation.

     TransAmerican intends to seek and acquire assets  or  shares
of entities actively engaged in businesses that generate revenues
in  exchange for our securities.  To that end, we have identified
potential   business   opportunities  and   have   entered   into
discussions and signed Letters of Intent with several  companies.
However,  we have not yet entered into any definitive  agreements
or understandings as of the date of this filing.

General Business Plan

     TransAmerican's purpose is to seek and acquire interests  in
business opportunities presented to us by persons or firms who or
which desire to seek the advantages of an Issuer who has complied
with the 1934 Act.  In our search for business opportunities,  we
will  not  restrict  our  selection  to  any  specific  business,
industry,  or  geographic  region and we  may  participate  in  a
business venture of any kind or nature.  This discussion  of  the
proposed  business is purposefully general and is  not  meant  to
restrict  our unlimited discretion to search for and  enter  into
potential business opportunities.

     Due  to  general  economic conditions,  rapid  technological
advances being made in some industries and shortages of available
capital,  management  believes  that  there  are  numerous  firms
seeking the benefits of an issuer who has complied with the  1934
Act.   Such  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  key  employees,  providing  liquidity  (subject  to
restrictions  of  applicable statutes) for all  shareholders  and
other factors.

     Management believes that TransAmerican will be able to offer
owners  of  acquisition candidates the opportunity to acquire  an
interest in an issuer who has complied with the 1934 Act  without
incurring the cost and time required to conduct an initial public
offering.  The owners of the business opportunity will,  however,
incur  significant legal and accounting costs in connection  with
the acquisition of a business opportunity, including the costs of
preparing  and  filing required reports on Form 8-K,  10-QSB  and
10-KSB,  agreements and related reports and documents.  The  1934
Act   specifically  requires  that  any  merger  or   acquisition
candidate  comply  with  all applicable  reporting  requirements,
which  include  providing  audited  financial  statements  to  be
included  within the filings relevant to complying with the  1934
Act.

     The   analysis  of  new  business  opportunities   will   be
undertaken  by,  or under the supervision of,  the  officers  and
directors  of the Company.  Management intends to concentrate  on
identifying  prospective  business opportunities,  which  may  be
brought  to our attention through present associations  with  the
Company's  officers  and directors, or by our  shareholders.   In
analyzing  prospective  business opportunities,  management  will
consider  such matters as the available technical, financial  and
managerial   resources;  working  capital  and  other   financial
requirements;  history of operations; prospects for  the  future;
nature  of  present  and expected competition;  the  quality  and
experience of management services which may be available and  the
depth  of  that  management; the potential for further  research,
development,  or  exploration;  specific  risk  factors  not  now
foreseeable  but  which  then may be anticipated  to  impact  the
proposed  activities of the Company; the potential for growth  or
expansion;  the  potential for profit; the public recognition  of
acceptance of products, services, or trades; name identification;
and other relevant factors.  TransAmerican management expects  to
meet personally with management and key personnel of the business
opportunity as part of our investigation. To the extent possible,
we  intend  to utilize written reports and personal investigation
to evaluate the above factors.  We will not acquire or merge with
any  company  for  which audited financial statements  cannot  be
obtained within a reasonable period of time after closing of  the
proposed transaction.

Acquisition of Business Opportunities

     In  implementing  a  structure  for  a  particular  business
acquisition,  TransAmerican  may become  a  party  to  a  merger,
consolidation,   reorganization,  joint  venture   or   licensing
agreement  with  another  corporation or  entity.   We  may  also
acquire  stock or assets of an existing business.  Any  terms  of
sale of the shares presently held by officers and/or directors of
TransAmerican will be also afforded to all other shareholders  of
the  Company on similar terms and conditions.  Any and  all  such
sales will only be made in compliance with the securities laws of
the United States and any applicable state.

     We  anticipate  that  any  securities  issued  in  any  such
reorganization would be issued in reliance upon an exemption from
registration under applicable federal and state securities  laws.
In  some circumstances, however, as a negotiated element  of  the
transaction, TransAmerican may agree to register all or a part of
such  securities immediately after the transaction is consummated
or  at  specified times thereafter.  If such registration occurs,
of  which there can be no assurance, it will be undertaken by the
surviving entity after the Company has successfully consummated a
merger  or  acquisition.  The issuance of substantial  additional
securities  and their potential sale into a trading market  which
may  develop in TransAmerican's securities may have a  depressive
effect on the value of our securities in the future.

     As  part  of  TransAmerican's  investigation,  officers  and
directors of the Company will meet personally with management and
key personnel, will visit and inspect material facilities, obtain
independent  analysis  or  verification  of  certain  information
provided,  check references of management and key personnel,  and
take other investigative measures as the Company's management may
deem  necessary.   The  manner  in which  we  participate  in  an
opportunity  will depend upon the nature of the opportunity,  the
respective  needs and desires of the Company and  other  parties,
the  management  of the opportunity and the relative  negotiation
strength of the Company and such other management.

     With respect to any merger or acquisition, negotiations with
management  of the target company are expected to  focus  on  the
number  of  shares  of  TransAmerican which  the  target  company
shareholders  would  acquire  in  exchange  for  all   of   their
shareholdings in the target company, depending upon, among  other
things,  the  target  company's  assets  and  liabilities.    The
ownership  percentage of present shareholders may be  subject  to
reduction  in  the  event that we acquire a target  company  with
substantial  assets.   Any  merger  or  acquisition  effected  by
TransAmerican  is  expected to have  a  dilutive  effect  on  the
percentage of shares held by TransAmerican's then-shareholders.

     TransAmerican  will  participate in a  business  opportunity
only  after the negotiation and execution of appropriate  written
agreements.   Generally, such agreements  will  require  specific
representations  and  warranties by all of the  parties  thereto,
will specify certain events of default, will detail the terms  of
closing and the conditions which must be satisfied by each of the
parties prior to and after such closing, will outline the  manner
of  bearing costs, including costs associated with the  Company's
attorneys and accountants, will set forth remedies on default and
will include miscellaneous other terms.

     As  stated,  we  will not acquire or merge with  any  entity
which  cannot  provide  independent audited financial  statements
within  a reasonable period of time after closing of the proposed
transaction.   The  Company is subject to all  of  the  reporting
requirements  included  in  the  1934  Act.   Included  in  these
requirements  is  the  affirmative duty of the  Company  to  file
independent audited financial statements as part of its Form  8-K
to  be  filed  with the Securities and Exchange  Commission  upon
consummation   of   a   merger  or  acquisition,   as   well   as
TransAmerican's  audited  financial statements  included  in  our
annual  report on Form 10-K (or 10-KSB, as applicable).  If  such
audited  financial statements are not available  at  closing,  or
within  time  parameters necessary to insure our compliance  with
the  requirements  of the 1934 Act, or if the  audited  financial
statements provided do not conform to the representations made by
the  candidate  to  be  acquired in the  closing  documents,  the
closing documents will provide that the proposed transaction will
be  rescinded,  at  the  discretion of  TransAmerican.   If  such
transaction  is  rescinded, the agreement  will  also  contain  a
provision  providing  for  the acquisition  entity  to  reimburse
TransAmerican  for  all  costs  associated  with   the   proposed
transaction.

     To  assist  in  the  acquisition of  a  particular  business
opportunity,   the   Company  may  retain  outside   consultants,
attorneys or accountants as we deem appropriate.  We will  retain
the services of these consultants, attorneys and accountants from
time to time on an "as needed" basis.  At this time, there is  no
prior  arrangement or understanding regarding the  engagement  of
any particular consultant for future services.

Investment Company Act of 1940

     Although  TransAmerican is subject to regulation  under  the
Securities  Act of 1933, as amended, and the 1934 Act, management
believes the Company will not be subject to regulation under  the
Investment Company Act of 1940 insofar as TransAmerican will  not
be engaged in the business of investing or trading in securities.
In  the event that TransAmerican engages in business combinations
which  result in the Company holding passive investment interests
in  a  number  of  entities, TransAmerican could  be  subject  to
regulation under the Investment Company Act of 1940.  In such  an
event,  TransAmerican  would  be  required  to  register  as   an
investment  company and could incur significant registration  and
compliance   costs.    TransAmerican  has  obtained   no   formal
determination from the Securities and Exchange Commission  as  to
the  status  of the Company under the Investment Company  Act  of
1940  and, consequently, any violation of such Act would  subject
TransAmerican  to material adverse consequences.  TransAmerican's
Board of Directors unanimously approved a resolution stating that
it  is  the  Company's  desire to be exempt from  the  Investment
Company Act of 1940 under Regulation 3a-2 thereto.

The Securities Enforcement and Penny Stock Reform Act of 1990

     The  Securities Enforcement and Penny Stock  Reform  Act  of
1990  requires additional disclosure relating to the  market  for
penny stocks in connection with trades in any stock defined as  a
penny  stock.   The  Commission  has  adopted  regulations   that
generally define a penny stock to be any equity security that has
a  market price of less than $5.00 per share, subject to  certain
exceptions.   Such exceptions include any equity security  listed
on  Nasdaq and any equity security issued by an issuer  that  has
(i)  net  tangible assets of at least $2,000,000, if such  issuer
has  been  in  continuous operation for  three  years,  (ii)  net
tangible  assets of at least $5,000,000, if such issuer has  been
in  continuous  operation for less than  three  years,  or  (iii)
average annual revenue of at least $6,000,000, if such issuer has
been  in continuous operation for less than three years.   Unless
an  exception is available, the regulations require the delivery,
prior to any transaction involving a penny stock, of a disclosure
schedule  explaining  the  penny  stock  market  and  the   risks
associated with that market.


Forward Looking Information.

     This  Quarterly  Report  on  Form 10-QSB  contains  forward-
looking statements within the meaning of that term in the Private
Securities  Litigation Reform Act of 1955  (Section  27A  of  the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act   of  1934).   Additional  written  or  oral  forward-looking
statements  may  be  made by the Company from  time  to  time  in
filings with the Securities and Exchange Commission or otherwise.
Statements  contained  herein that are not historical  facts  are
forward-looking  statements  made pursuant  to  the  safe  harbor
provisions referenced above.

     Forward-looking  statements are inherently subject  to  risk
and   uncertainties,  some  of  which  cannot  be  predicted   or
quantified  based on current expectations.  Consequently,  future
events and actual results could differ materially from those  set
forth  in,  contemplated  by  or underlying  the  forward-looking
statements contained in this Annual Report.  The statements,  and
"Part I, Item 2, Management's Discussion and Analysis or Plan  of
Operation",  describe certain factors, among others, which  could
contribute to or cause such differences.

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


                  PART II -- OTHER INFORMATION


ITEM 1.   LEGAL PROCEEDINGS.

     There are no legal proceedings threatened or pending, except
such  ordinary  routine matters which may be  incidental  to  the
business currently being conducted by the Company.


ITEM 2.   CHANGES IN SECURITIES.

      In  July,  2001,  pursuant  to  our  agreement  to  acquire
Certified  Satellite  Installers, Inc.  ("CSI"),  TransAmerican's
Board  of  Directors  approved a resolution whereby  the  Company
issued  850,000  new  shares  of TransAmerican  Common  Stock  as
partial  consideration for the acquisition.  As a result  of  our
subsequent rescission of the CSI acquisition, the 850,000  shares
of  TransAmerican Common Stock issued pursuant to the acquisition
remain  in our possession; the shares will not be distributed  to
the  CSI  shareholders, but rather, they will either be cancelled
or retained as treasury stock.

Exemption from Registration Relied Upon

     Each  of  the above transactions was deemed by TransAmerican
to  be  exempt  from  registration  under  Section  4(2)  of  the
Securities Act of 1933, and Rule 145 (17 CFR Section 230.145)  as
a transaction not involving any public offering.  Except as noted
herein, no compensation or commissions were paid to any person in
connection  with the issuance of the shares, and no  underwriter,
broker or dealer participated in such sales.  Each issuee in  the
transactions  described  above made a written  representation  to
TransAmerican  that  he  was acquiring the  Company's  stock  for
investment  purposes  and  not with  a  view  to  the  resale  or
redistribution thereof.  Each stock certificate issued contains a
restrictive legend.


ITEM 3.   DEFAULTS UPON SENIOR SECURITIES

     None.


ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     None.


ITEM 5.   OTHER INFORMATION

     None.


ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K.

Exhibits

     None.

Reports on Form 8-K

     On July 16, 2001, the Company filed a Current Report on Form
8-K  reporting that TransAmerican had completed the  transactions
contemplated  by the Agreement and Plan of Reorganization,  dated
as  of  May  17, 2001 (the "Agreement"), among itself,  Certified
Satellite  Installers, Inc. ("CSI") and certain  shareholders  of
CSI.   On September 26, 2001, the Company filed a Current  Report
on  Form  8-K  reporting  that TransAmerican  had  rescinded  the
transactions  contemplated by the Agreement.  Our  rescission  of
the  CSI  acquisition  resulted in  the  divesture  of  CSI  from
TransAmerican, effective September 21, 2001.

     As  part  of  the  agreement to  rescind,  CSI  and  Jay  M.
Avenatti,  President  of  CSI, have executed  a  Promissory  Note
payable to TransAmerican in an amount representing the sum  total
of all funds advanced thusfar by TransAmerican to CSI pursuant to
the  intended  acquisition  (the "Note").   In  addition  to  Jay
Avenatti's  personal  guarantee of the Note,  the  Note  is  also
collateralized  and  secured by all of the assets  of  CSI,  both
present  and future, including its accounts receivable, inventory
and  equipment.  In addition, all shares of TransAmerican  Common
Stock  due to be issued pursuant to the Agreement have  been  and
will  remain in our possession, and due to the rescission of  the
CSI  transaction, these shares will not be distributed to the CSI
shareholders, but rather will either be cancelled or retained  as
treasury stock.



                           SIGNATURES

     In accordance with Section 12 of the Securities Exchange Act
of 1934, the Registrant has caused this registration statement to
be  signed  on  its  behalf  by the undersigned,  thereunto  duly
authorized.


                  TRANSAMERICAN HOLDINGS, INC.


Date: November 16, 2001                 By: /s/ Najib E. Choufani
                                      -------------------------
                                      Najib E. Choufani
                                      Chairman and CEO