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       Amount       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             913,000        913      142,150                                        143,063

Issuance of common stock
 for cash during
 July 2000             465,000        465      226,337           (33,750)                     193,052

Net loss for
 the year ended
 December 31, 2000                                                           (319,992)       (319,992)
                    ----------   --------  -----------         ---------    ---------     -----------
Balance at
 December 31, 2000  16,271,090   $ 16,271  $ 1,453,147         $ (33,750)   $(325,092)    $ 1,110,576
                    ----------   --------  -----------         ---------    ---------     -----------

Issuance of common stock
 for cash during
 June 2001
 (Unaudited)            50,000         50       99,950           (50,000)                      50,000

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

Balance at
 September 30, 2001
 (Unaudited)        16,321,090   $ 16,321  $ 1,553,097         $ (83,750)   $(721,844)    $   763,824
                    ==========   ========  ===========         =========    =========     ===========

</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                    (3,806)           (10,000)                (3,806)
  Note receivable,
   Certified Satellite Installers     (90,000)                 -                (90,000)
                              ---------------     --------------      -----------------

 Increase (decrease) in liabilities:
  Accounts payable
   and accrued expenses                27,661              4,193                 46,384
                              ---------------     --------------      -----------------

  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)               (60,000)
  Notes receivable,
   related parties                   (142,296)           (10,000)              (157,296)
  Restricted cash                        (295)                 -                (30,960)
                              ---------------     --------------      -----------------
     Net cash (used for)
     investing activities            (144,605)           (28,186)              (260,298)
                              ---------------     --------------      -----------------

Cash flows provided by
 (used for) financing
 activities:
  Proceeds from sale
   of common stock                     50,000          1,420,917              1,391,147
  Increase in note payable,
   officer                             11,540             10,000                 21,540
                              ---------------     --------------      -----------------
     Net cash provided by
     financing activities              61,540          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 Operations

Three 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