SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

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

                       For Period ended September 30, 2001
                         Commission File Number 0-30161

                                   DICUT, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


        DELAWARE                                  52-2204952
        --------                                  ----------
  (State of Incorporation)              (I.R.S. Employer Identification No.)

        7270 Woodbine Avenue, Suite 200, Markham, Ontario, Canada L3R 4B9
              -----------------------------------------------------
               (Address of Principal Executive Offices) (Zip Code)

                                 (905) 947-9925
                               -------------------
              (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days.

               Yes     X                           No
                    -------                           -------


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

As of November 7, 2001, the  registrant  had 16,370,000  shares of common stock,
$.001 par value, issued and outstanding.


<PAGE>



PART 1     FINANCIAL INFORMATION


<TABLE>
<CAPTION>
                                  Dicut, Inc.
                    (a Development Stage Company)
                            Balance Sheet



                                                                                       September 30,              March 31,
                                                                                           2001                     2001
                                                                                    ---------------------    --------------------
Assets

Current assets:
<S>                                                                                 <C>                      <C>
    Cash and equivalents                                                            $                 55     $               163
                                                                                    ---------------------    --------------------
      Total current assets                                                                            55                     163
                                                                                    ---------------------    --------------------

                                                                                    $                 55     $               163
                                                                                    =====================    ====================


Liabilities and Stockholders' Equity

Current liabilities:
    Accounts payable                                                                $              4,317     $                 -

                                                                                    ---------------------    --------------------
      Total current liabilities                                                                    4,317                       -
                                                                                    ---------------------    --------------------


Stockholders' (Deficit):
    Common stock, $0.001 par value, 20,000,000
      shares authorized, 8,370,000 shares issued and
      outstanding                                                                                  8,370                   8,370
    Additional paid-in capital                                                                    10,230                  10,230
    (Deficit) accumulated during development stage                                               (22,862)                (18,437)
                                                                                    ---------------------    --------------------
                                                                                                  (4,262)                    163
                                                                                    ---------------------    --------------------

                                                                                    $                 55     $               163
                                                                                    =====================    ====================


<PAGE>

                          Dicut, Inc.
                (a Development Stage Company)
                   Statement of Cash Flows
    Forthe Six Months Ending September 30, 2001 and 2000 and For the Period
       March 29, 2000 (Inception) to September 30, 2001

                                                                                                               March 29, 2000
                                                                 Six Months Ending                             (Inception) to
                                                                 September 30,                                 September 30,
                                                                ----------------------------------------    --------------------
                                                                    2001                 2000                      2001
                                                                -----------------    -------------------    ---------------------
Cash flows from operating activities
Net (loss)                                                      $         (4,425)    $           (7,972)    $            (22,862)
Adjustments to reconcile net (loss) to
    net cash (used) by operating activities
    Increase in accounts payable                                           4,317                      -                    4,317
                                                                -----------------    -------------------    ---------------------
Net cash (used) by operating activities                                     (108)                (7,972)                 (18,545)
                                                                -----------------    -------------------    ---------------------

Cash flows from investing activities
Net cash used by investing activities                                          -                      -                        -
                                                                -----------------    -------------------    ---------------------

Cash flows from financing activities
    Issuance of common stock                                                   -                      -                   18,600

                                                                -----------------    -------------------    ---------------------
Net cash provided by financing activities                                      -                      -                   18,600
                                                                -----------------    -------------------    ---------------------

Net (decrease) increase in cash                                             (108)                (7,972)                      55
Cash - beginning                                                             163                  8,195                        -
                                                                -----------------    -------------------    ---------------------
Cash - ending                                                   $             55     $              223     $                 55
                                                                =================    ===================    =====================

Supplemental disclosures:
    Interest paid                                               $              -     $                -     $                  -
                                                                =================    ===================    =====================
    Income taxes paid                                           $              -     $                -     $                  -
                                                                =================    ===================    =====================


<PAGE>

                Dicut, Inc.
       (a Development Stage Company)
          Statement of Operations
        For the Three and Six Months Ending September 30, 2001 and 2000, and For
 the Period May 31,1994 (Inception) to September 30, 2001


                                              (unaudited)                             (unaudited)
                                              Three Months Ending                    Six Months Ending            May 31, 1994
                                             September 30,                           September 30,               (Inception) to
                                            -------------------------------   -------------------------------     September 30,
                                                2001              2000            2001             2000                 2001
                                            --------------    -------------   -------------    --------------    -----------------


Revenue                                     $           -     $          -    $          -     $           -     $              -
                                            --------------    -------------   -------------    --------------    -----------------

Expenses:

   General and administrative expenses              4,399            2,586           4,425             7,972               22,862
                                            --------------    -------------   -------------    --------------    -----------------
     Total expenses                                 4,399            2,586           4,425             7,972               22,862
                                            --------------    -------------   -------------    --------------    -----------------

Net (loss)                                  $      (4,399)    $     (2,586)   $     (4,425)    $      (7,972)    $        (22,862)
                                            ==============    =============   =============    ==============    =================

Weighted average number of
   common shares outstanding                     8,370,000       8,370,000       8,370,000         8,370,000            8,370,000
                                            ==============    =============   =============    ==============    =================

Net (loss) per share                        $       (0.00)    $      (0.00)   $      (0.00)    $       (0.00)    $          (0.00)
                                            ==============    =============   =============    ==============    =================
</TABLE>

<PAGE>


                                   Dicut, Inc.
                          (a Development Stage Company)
                                      Notes

Note 1 - Basis of Presentation

The consolidated  interim  financial  statements  included herein,  presented in
accordance  with United States  generally  accepted  accounting  principles  and
stated in US dollars, have been prepared by the Company, without audit, pursuant
to the rules and regulations of the Securities and Exchange Commission.  Certain
information and footnote  disclosures  normally included in financial statements
prepared in accordance with generally accepted  accounting  principles have been
condensed  or omitted  pursuant  to such  rules and  regulations,  although  the
Company  believes  that the  disclosures  are  adequate to make the  information
presented not misleading.

These  statements  reflect  all  adjustments,  consisting  of  normal  recurring
adjustments,  which,  in the  opinion  of  management,  are  necessary  for fair
presentation of the information  contained  therein.  It is suggested that these
consolidated  interim  financial  statements  be read in  conjunction  with  the
financial  statements of the Company for the year ended March 31, 2001 and notes
thereto included in the Company's 10-KSB annual report.  The Company follows the
same accounting policies in the preparation of interim reports.

Results of  operations  for the  interim  periods are not  indicative  of annual
results.

Note 2 - Going concern

These  consolidated  financial  statements have been prepared in accordance with
generally  accepted  accounting  principles  applicable to a going concern which
contemplates  the realization of assets and the  satisfaction of liabilities and
commitments  in the normal  course of business.  As at September  30, 2001,  the
Company has not recognized revenue to date and has accumulated  operating losses
of approximately $23,000 since inception. The Company's ability to continue as a
going  concern  is  contingent  upon the  successful  completion  of  additional
financing  arrangements  and its  ability to  achieve  and  maintain  profitable
operations.  Management  plans to raise equity  capital to finance the operating
and capital requirements of the Company.  Amounts raised will be used to further
development of the Company's  products,  to provide  financing for marketing and
promotion,  to secure additional  property and equipment,  and for other working
capital purposes. While the Company is expending its best efforts to achieve the
above plans,  there is no assurance  that any such activity will generate  funds
that will be available for operations.

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

Note 3 - Related party transactions

The Company does not lease or rent any  property.  Office  services are provided
without  charge by a  director.  Such  costs  are  immaterial  to the  financial
statements and,  accordingly,  have not been reflected therein. The officers and
directors of the Company are involved in other  business  activities and may, in
the future,  become  involved  in other  business  opportunities.  If a specific
business  opportunity  becomes  available,  such  persons may face a conflict in
selecting  between the Company and their other business  interests.  The Company
has not formulated a policy for the resolution of such conflicts.

Note 4 - Subsequent events

On October 16, 2001, the Company completed its due diligence for the purchase of
100% of the shares of Cutting Edge Shape CD, Inc.  ("Cutting  Edge") in exchange
for 8 million  restricted shares of the Company's $0.001 par value common stock,
subject to the subsequent receipt of satisfactory  audited financial  statements
of Cutting Edge. The consideration was based on a value of $0.085 per share. The
shares of Cutting Edge were purchased from two principal shareholders, the Bokor
Family Trust and the Caplan  Family  Trust.  The Company has received  unaudited
statements  of Cutting  Edge for the fiscal year ended April 30,  2001,  and the
shares of the Company are being held in escrow  pursuant to an Escrow  Agreement
subject  to receipt of audited  financial  statements  of Cutting  Edge in which
there are no material changes.




<PAGE>

Item 2  Management's Plan of Operations

On August 8, 2001, the Company  consented to transferring back to Fred McNorton,
Licensor,  and to the  termination of all of its rights under the  Manufacturing
and Marketing Exclusive License Agreement dated March 15, 1997, as the new board
of directors has no further interest in pursuing the development of the Hydronic
Low Pressure Heating and Air Conditioning  System under said License  Agreement.
Such  termination of rights was carried out with the consent of both parties and
for no consideration.

The  Company's  plan of  operation  for the  next 12  months  is to focus on the
sourcing and  acquisition  of  multimedia  companies.  On August 15,  2001,  the
Company  entered  into a Letter  of  Intent to  purchase  100% of the  shares of
Cutting  Edge Shape CD Inc. in exchange for 8 Million  restricted  shares of the
Company.  On October 16, 2001, the Company completed its due diligence review of
Cutting Edge subject to the receipt  satisfactory  audited financial  statements
showing no material  changes from the unaudited  statements  for fiscal year end
April 30, 2001 previously  provided by Cutting Edge. The 8 Million shares of the
Company  are being  held in escrow  pending  receipt  of the  audited  financial
statements.

Cutting Edge is located in Toronto,  Canada and is in the business of designing,
manufacturing and distributing  shaped CD ROMs used as promotional  vehicles and
business cards.  Pursuant to its unaudited financial  statements dated April 30,
2001,  Cutting  Edge had  gross  revenues  of  CAD$2,508,182  with a net loss of
CAD$112,419.  Notiwithstanding  this loss,  it is the intention of management to
reduce  overhead and reorganize  responsibilities  in order to make Cutting Edge
into a profitable company.

The Company is also sourcing other potential multimedia companies as acquisition
targets.  On October 3, 2001,  the Company  announced the signing of a Letter of
Intent to  purchase  100% of the  shares of Rompus CD Rom  Production  Ltd.  The
transaction is subject to a satisfactory  due diligence  review of Rompus' books
and records.  Rompus CD Rom Production  Ltd.,  located in Toronto,  Canada,  was
founded in 1994 and is in the business of developing  interactive multimedia for
its clients'  marketing  and  communications  needs.  The Company  believes that
consolidation is necessary for  profitability  in the multimedia  industry as it
continues to source other such companies.

The Company  sustains  corporate  operations  through loans from related parties
until such time as  Management  can raise the funding  necessary  to advance its
business  plan. In order to  effectively  proceed with the operations of Cutting
Edge,  the  Company  must obtain  financing  and will be  approaching  financial
institutions  and attempting to secure equity  financing.  However,  there is no
guarantee that such financing will be forthcoming.


<PAGE>

The losses of $4,399 for the three months ending  September 30, 2001 were due to
operating expenses including audit fees, office expenses and license fees.

The Company will only be able to continue to advance its business  plan after it
receives capital funding through the sale of equity securities. If no funding is
received  during the next twelve  months,  the Company will be forced to rely on
its existing cash in the bank and funds loaned by the directors and officers.
The Company's  officers and directors have no formal commitments or arrangements
to  advance  or loan  funds  to the  Company.  In such a  restricted  cash  flow
scenario,  the Company would be unable to complete its business plan steps,  and
would,  instead,  delay all cash intensive  activities.  Without  necessary cash
flow, the Company may be dormant  during the next twelve  months,  or until such
time as necessary funds could be raised in the equity securities market.


<PAGE>

PART II     OTHER INFORMATION

ITEM 1         Not applicable.

ITEMS 2-4:     Not applicable

ITEM 5:        Information required in lieu of Form 8-K:  None

ITEM 6:        Exhibits and Reports on 8-K:

              The  following  reports on Form 8-K were  filed  during the fiscal
quarter ended September 30, 2001:

i) August 23, 2001 an 8K was filed reporting on the disposition of the Company's
rights under the Manufacturing  and Marketing  Exclusive License Agreement dated
March 15, 1997 back to the  licensor.  Also reported were the change of officers
and directors and the letter of intent to purchase Cutting Edge Shape CD Inc.

ii) On  September  19,  2001 an 8K was filed  reporting  on the  resignation  of
Stephen Nemergut as Director and President of the Company.


<PAGE>

                                   SIGNATURES


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

        Dicut, Inc.




                                    /s/ Pierre Quilliam
        Dated: November 14, 2001     _______________________________________
                                    Pierre Quilliam
                                    President and Chief Executive Officer