U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-QSB


                              [X] QUARTERLY REPORT
                                       OR
                              [ ] TRANSITION REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                    For the Quarter Ended September 30, 2004
                          Commission File No. 000-26828


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


                                MORO CORPORATION
             (Exact name of registrant as specified in its charter)



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

               Delaware                                 51-0338736
  (State or other jurisdiction of           (I.R.S. Employer Identification No.)
     Incorporation or organization)


                                    The Woods
                      994 Old Eagle School Road, Suite 1000
                                 Wayne, PA 19087
               (Address of principal executive offices) (zip code)

                                 (484) 367-0300
              (Registrant's telephone number, including area code)



          Checkwhether  the issuer (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 November 12, 2004, 6,250,000 shares of common stock were outstanding.


         Transitional Small Business Disclosure Format (check one)

                                    YES   NO X
                                      ---   ---

<PAGE>


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                MORO CORPORATION

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

Number                                                                                             Page(s)
------                                                                                             -------

                         PART I - FINANCIAL INFORMATION
                         ------------------------------


ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS

          Consolidated Balance Sheets as of September 30, 2004
           and December 31, 2003                                                                    1-2

          Consolidated Statements of Income for the Nine Months
           Ended September 30, 2004 and 2003                                                          3

          Consolidated Statements of Income for the Three Months
           Ended September 30, 2004 and 2003                                                          4

          Consolidated Statements of Cash Flows for the Nine Months
           Ended September 30, 2004 and 2003                                                        5-6

          Notes to Consolidated Financial Statements                                               7-12


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
           CONDITION AND RESULTS OF OPERATIONS                                                    13-17

ITEM 3.   CONTROLS AND PROCEDURES                                                                    17

                          PART II - OTHER INFORMATION
                          ---------------------------


ITEM 1. LEGAL PROCEEDINGS                                                                            18

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS                                                    18

ITEM 3. DEFAULTS UPON SENIOR SECURITIES                                                              18

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS                                          18

ITEM 5. OTHER INFORMATION                                                                            18

ITEM 6.   EXHIBITS                                                                                   18

          SIGNATURES                                                                                 19

          CERTIFICATIONS                                                                          20-21



</TABLE>


<PAGE>





                                MORO CORPORATION
                           CONSOLIDATED BALANCE SHEETS
                    SEPTEMBER 30, 2004 AND DECEMBER 31, 2003

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


                                                                  September 30,
                                                                      2004                   December 31,
                                                                   (Unaudited)                  2003
                                                                   -----------               -----------
                              ASSETS

CURRENT ASSETS
 Cash and Cash Equivalents .................................      $    552,780               $   436,756
 Trade Accounts Receivable, Net ............................         3,623,846                 2,413,597
 Accounts Receivable on Contracts
  (Including Retentions) ...................................         2,372,475                 1,718,852
 Inventory .................................................         1,679,446                   708,046
 Costs and Estimated Earnings in Excess
  of Billings on Uncompleted Contracts .....................           315,566                   362,745
 Investment in Joint Venture ...............................           246,035                   145,796
 Prepaid Income Taxes ......................................                 -                    40,013
 Prepaid Materials .........................................            34,100                         -
 Other Current Assets ......................................            92,351                    31,823
                                                                  ------------               -----------
              Total Current Assets .........................         8,916,599                 5,857,628

PROPERTY AND EQUIPMENT, NET ................................         1,311,022                 1,167,787

OTHER INTANGIBLE ASSETS, NET ...............................            28,500                    26,508

OTHER ASSETS ...............................................             6,876                     7,718

GOODWILL ...................................................           625,348                   385,341
                                                                  ------------               -----------

              Total Assets .................................      $ 10,888,345               $ 7,444,982
                                                                  ============               ===========


</TABLE>

        See Accompanying Notes to the Consolidated Financial Statements



                                      (1)
<PAGE>


                                MORO CORPORATION
                           CONSOLIDATED BALANCE SHEETS
                    SEPTEMBER 30, 2004 AND DECEMBER 31, 2003

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

                                                                    September 30,
                                                                        2004                 December 31,
                                                                     (Unaudited)                 2003
                                                                    ------------             -----------

               LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
 Line of Credit ................................................     $ 2,107,526             $   862,399
 Current Portion of Long-Term Debt .............................         414,381                 437,941
 Trade Accounts Payable ........................................       2,241,791               1,405,901
 Due to Former Owners ..........................................          83,731                 431,322
 Accrued Expenses ..............................................         501,265                 222,864
 Income Taxes Payable ..........................................         410,086                       -
 Billings in Excess of Costs and Estimated
   Earnings on Uncompleted Contracts ...........................         226,180                  40,410
                                                                     -----------             -----------
              Total Current Liabilities ........................       5,984,960               3,400,837

LONG-TERM LIABILITIES
 Long-Term Debt ................................................         995,572                 948,388
 Convertible Debentures ........................................         650,000                 650,000
 Deferred Tax Liability ........................................         171,500                 159,000
                                                                     -----------             -----------
               Total Long-Term Liabilities .....................       1,817,072               1,757,388

STOCKHOLDERS' EQUITY
 Preferred Stock, $.001 Par Value, Authorized
  5,000,000 Shares; None Issued or Outstanding
  at September 30, 2004 and December 31, 2003 ..................               -                       -
 Common Stock, $.001 Par Value, Authorized
  25,000,000 Shares; Issued and Outstanding
  6,250,000 Shares at September 30, 2004 and
  December 31, 2003 ............................................           6,250                   6,250
 Additional Paid-In Capital ....................................         793,325                 793,325
 Retained Earnings .............................................       2,286,738               1,487,182
                                                                     -----------             -----------
              Total Stockholders' Equity .......................       3,086,313               2,286,757
                                                                     -----------             -----------

              Total Liabilities and Stockholders' Equity .......     $10,888,345             $ 7,444,982
                                                                     ===========             ===========



</TABLE>



        See Accompanying Notes to the Consolidated Financial Statements




                                      (2)
<PAGE>


                                MORO CORPORATION
                        CONSOLIDATED STATEMENTS OF INCOME
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)


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

                                                                                 For the Nine Months Ended September, 30
                                                                                    2004                        2003
                                                                                ------------                ------------

REVENUES
   Construction Materials Sales, Net ................................           $ 12,970,564                $  8,029,689
   Mechanical Contracts Revenue Earned ..............................              8,530,885                  10,030,581
                                                                                ------------                ------------
              Total Revenues ........................................             21,501,449                  18,060,270

COST OF REVENUES
   Cost of Goods Sold ...............................................              9,455,143                   6,506,080
   Cost of Construction Contract Revenue ............................              7,946,359                   9,133,352
                                                                                ------------                ------------
              Total Cost of Revenues ................................             17,401,502                  15,639,432

GROSS PROFIT ........................................................              4,099,947                   2,420,838

OPERATING EXPENSES
Selling, General and Administrative Expenses ........................              2,757,660                   1,803,075
                                                                                ------------                ------------

OPERATING INCOME ....................................................              1,342,287                     617,763

OTHER INCOME (EXPENSE)
   Other ............................................................                 33,122                      18,406
   Interest Income ..................................................                  1,831                       3,255
   Interest Expense .................................................               (145,498)                   (133,633)
   Equity in Earnings of Joint Venture ..............................                100,239                           -
                                                                                ------------                ------------

INCOME BEFORE INCOME TAXES ..........................................              1,331,981                     505,791

PROVISION FOR INCOME TAXES ..........................................                532,425                     208,303
                                                                                ------------                ------------

NET INCOME ..........................................................           $    799,556                $    297,488
                                                                                ============                ============

EARNINGS PER SHARE - BASIC AND DILUTED ..............................           $       0.13                $       0.05
                                                                                ============                ============

WEIGHED AVERAGE SHARES OUTSTANDING -
 BASIC AND DILUTED ..................................................              6,250,000                   6,250,000
                                                                                ============                ============


</TABLE>




        See Accompanying Notes to the Consolidated Financial Statements



                                      (3)
<PAGE>


                                MORO CORPORATION
                       CONSOLIDATED STATEMENTS OF INCOME
             FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                  (Unaudited)

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

                                                                                For the Three Months Ended September, 30
                                                                                    2004                        2003
                                                                                ------------                ------------

REVENUES
   Construction Materials Sales, Net ................................           $ 4,689,482                $ 3,450,305
   Mechanical Contracts Revenue Earned ..............................             3,686,865                  3,510,936
                                                                                -----------                -----------
              Total Revenues ........................................             8,376,347                  6,961,241

COST OF REVENUES
   Cost of Goods Sold ...............................................             3,411,786                  2,798,606
   Cost of Construction Contract Revenue ............................             3,462,465                  3,204,999
                                                                                -----------                -----------
              Total Cost of Revenues ................................             6,874,251                  6,003,605

GROSS PROFIT ........................................................             1,502,096                    957,636

OPERATING EXPENSES
Selling, General and Administrative Expenses ........................             1,001,425                    569,351
                                                                                -----------                -----------

OPERATING INCOME ....................................................               500,671                    388,285

OTHER INCOME (EXPENSE)
   Other ............................................................                11,359                      6,340
   Interest Income ..................................................                 1,151                      1,005
   Interest Expense .................................................               (57,847)                   (62,051)
   Equity in Earnings of Joint Venture ..............................                     -                          -
                                                                                -----------                -----------

INCOME BEFORE INCOME TAXES ..........................................               455,334                    333,579

PROVISION FOR INCOME TAXES ..........................................               173,325                    138,303
                                                                                -----------                -----------

NET INCOME ..........................................................           $   282,009                $   195,276
                                                                                ===========                ===========

EARNINGS PER SHARE - BASIC AND DILUTED ..............................           $      0.05                $      0.03
                                                                                ===========                ===========

WEIGHED AVERAGE SHARES OUTSTANDING -
 BASIC AND DILUTED ..................................................             6,250,000                  6,250,000
                                                                                ===========                ===========


</TABLE>


        See Accompanying Notes to the Consolidated Financial Statements

                                      (4)
<PAGE>

                                MORO CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                  NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)

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

                                                                               For the Nine Months Ended September 30,
                                                                                    2004                    2003
                                                                                -----------             -----------

CASH FLOWS FROM OPERATING ACTIVITIES
   Net Income ...........................................................       $   799,556             $   297,488
   Adjustments to Reconcile Net Income to
    Net Cash (Used in)  Provided by Operating Activities:
     Amortization .......................................................            13,008                  27,014
     Depreciation .......................................................           233,847                 178,813
     Equity in Earnings of Joint Venture ................................          (100,239)                      -
     Deferred Income Taxes ..............................................            12,500                  41,000
   Changes in Assets and Liabilities, Net of Acquisitions:
     Trade Accounts Receivable ..........................................          (752,192)               (571,338)
     Contract Accounts Receivable .......................................          (653,623)                463,211
     Inventory ..........................................................          (695,593)               (124,447)
     Costs in Excess of Billings ........................................            47,179                 426,179
     Prepaid Income Taxes ...............................................            40,013                       -
     Prepaid Materials ..................................................           (34,100)                      -
     Other Current Assets ...............................................           (60,528)                (37,160)
     Other Assets .......................................................               842                  (1,375)
     Trade Accounts Payable .............................................           366,152                 746,252
     Due to Former Owners ...............................................          (347,591)               (401,391)
     Accrued Expenses ...................................................           263,325                (136,869)
     Income Taxes Payable ...............................................           410,086                 (63,288)
     Billings in Excess of Costs ........................................           185,770                (527,265)
                                                                                -----------             -----------
         Net Cash (Used in) Provided by Operating Activities ............          (271,588)                316,824

CASH FLOWS FROM INVESTING ACTIVITIES
   Purchase of Property and Equipment ...................................          (226,082)               (215,272)
   Acquisition of Business, Net of Cash Acquired ........................          (655,057)                 (4,478)
                                                                                -----------             -----------
         Net Cash Used in Investing Activities ..........................          (881,139)               (219,750)

CASH FLOWS FROM FINANCING ACTIVITIES
   Proceeds of Line of Credit ...........................................         4,385,127                 946,200
   Repayments of Line of Credit .........................................        (3,140,000)             (1,275,326)
   Proceeds of Notes Payable ............................................           446,311                 420,000
   Principal Payments of Notes Payable ..................................          (422,687)               (398,835)
                                                                                -----------             -----------
         Net Cash Provided by (Used in) Financing Activities ............         1,268,751                (307,961)
                                                                                -----------             -----------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS ....................           116,024                (210,887)

CASH AND CASH EQUIVALENTS- BEGINNING ....................................           436,756                 976,239
                                                                                -----------             -----------

CASH AND CASH EQUIVALENTS - ENDING ......................................       $   552,780             $   765,352
                                                                                ===========             ===========
</TABLE>

        See Accompanying Notes to the Consolidated Financial Statements

                                      (5)
<PAGE>

                                MORO CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                  NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
                                   (Unaudited)



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


SUPPLEMENTAL DISCLOSURE OF
 CASH FLOW INFORMATION
   Cash Paid for Interest ...............................................           $127,273              $ 61,050
                                                                                    ========              ========
   Cash Paid for Taxes ..................................................           $ 60,720              $200,000
                                                                                    ========              ========


SUPPLEMENTAL SCHEDULE OF NON-CASH
 INVESTING AND FINANCING ACTIVITIES

   Acquisition of Whaling City Iron Assets and Liabilities:

    Cash purchase price .................................................            245,000
    Long-term debt incurred .............................................            335,000
    Other liabilities incurred ..........................................             75,057
                                                                                    --------

        Total purchase price ............................................           $655,057
                                                                                    ========

    Working capital acquired ............................................            249,050
    Fair value of property and
     equipment acquired .................................................            151,000
    Covenant not to compete acquired ....................................             15,000
    Goodwill acquired ...................................................            240,007
                                                                                    --------

        Total purchase price ............................................           $655,057
                                                                                    ========
</TABLE>

        See Accompanying Notes to the Consolidated Financial Statements



                                      (6)
<PAGE>





                                MORO CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 1    DESCRIPTION OF BUSINESS

          Moro Corporation (the "Company") is engaged in two lines of business -
          Construction  Materials (fabrication of concrete reinforcing steel and
          distribution of construction  accessories) and Mechanical  Contracting
          (heating,  ventilation,  air conditioning (HVAC),  industrial plumbing
          and process piping  services  including  in-house sheet metal and pipe
          fabrication capabilities).  These products/services are used primarily
          in  construction  projects such as highways,  bridges,  industrial and
          commercial buildings,  hospitals, schools, office buildings, and other
          kinds of structures.  The Company's  customers are mainly  contractors
          and end users.

NOTE 2    FINANCIAL STATEMENTS AND BASIS OF PRESENTATION

          Basis of Presentation and Principles of Consolidation
          -----------------------------------------------------
          The  accompanying   consolidated   financial  statements  include  the
          accounts of the Company and the Company's  wholly-owned  subsidiaries.
          All  significant  intercompany  accounts  and  transactions  have been
          eliminated.

          The  financial  statements  as of September  30, 2004 and for the nine
          months ended  September 30, 2004 and 2003 are unaudited;  however,  in
          the opinion of management,  such statements  include all  adjustments,
          consisting  solely of normal  recurring  adjustments,  necessary for a
          fair presentation of the results for the periods presented.

          The interim  financial  statements  should be read in conjunction with
          the financial  statements  for the fiscal year ended December 31, 2003
          and the notes thereto,  included in the Company's  report on Form 10-K
          for the year ended December 31, 2003.

          Risks, Uncertainties and Management Estimates
          ---------------------------------------------

          The results of operations for the interim  periods are not necessarily
          indicative  of the results that might be expected  for future  interim
          periods or for the full year ending December 31, 2004.

          The preparation of the Company's  consolidated financial statements in
          conformity with accounting principles generally accepted in the United
          States  of  America   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  reported  amounts of revenues and expenses
          during the reporting  period.  Actual  results could differ from those
          estimates.

          Interim Financial  Reporting
          ----------------------------
          For interim  financial  reporting  purposes,  costs and  expenses  are
          accounted for in accordance with Accounting  Principles  Board Opinion
          No. 28 ("APB 28").

           Major Customer
          --------------
          A  mechanical  contract  with one customer  amounted to  approximately
          $3,363,0000 and $1,149,000 and comprised 39% and 31% of the mechanical
          contracts revenue earned for



                                      (7)
<PAGE>

                                MORO CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


          the  nine  months  and  three   months  ended   September   30,  2004,
          respectively.  This contract is expected to be completed in the fourth
          quarter of 2004.


NOTE 3    ACQUISITION

          Effective April 12, 2004, the Company  purchased  substantially all of
          the operating  assets and assumed certain  liabilities of Whaling City
          Iron  Co.  ("Whaling").  Whaling  is  a  distributor  of  reinforcing,
          structural and miscellaneous steel sold to contractors,  end users and
          metalworking  firms located in the greater Boston,  MA and Providence,
          RI areas.

          The  aggregate  purchase  price was $655,057.  The Company  funded the
          acquisition  through (1)  available  cash  resources of $245,000,  (2)
          issuance of a bank note of $120,000  payable in seventy-two (72) equal
          monthly  installments  plus  interest  at the  bank's  Prime rate plus
          one-quarter percent (.25%), (3) issuance of a $200,000 5% subordinated
          note with  principal  payable  in five (5)  equal  annual  amounts  of
          $40,000, (4) a covenant-not-to-compete of $15,000 payable in three (3)
          equal  amounts  of $5,000  plus 5%  interest  and (5) the  balance  of
          $75,057 is being paid out as certain  acquired  assets are  liquidated
          into cash.

          The following table summarizes the estimated fair values of the assets
          acquired  and  liabilities  assumed  at the date of  acquisition.  The
          allocation  of  the  purchase  price  to  the  business   acquired  is
          preliminary and will be finalized when the third party  appraisals are
          complete.

                                      At April 12, 2004

          Current Assets                               $ 733,864
          Property, Plant and Equipment                  151,000
          Intangible Assets                               15,000
          Goodwill                                       240,007
                                                      ----------

          Total Assets Acquired                        1,139,871
          Total Liabilities Assumed                      484,814
                                                      ----------

          Net Assets Acquired                          $ 655,057
                                                       =========

          In accordance with FAS No. 142, Goodwill and Other Intangible  Assets,
          the goodwill of $240,007 is not amortized but is reviewed  annually by
          management for impairment.  The Company estimates fair value using the
          expected  present value of future cash flows. For income tax purposes,
          all goodwill is expected to be amortized over 15 years.






                                      (8)
<PAGE>





                                MORO CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


NOTE 4    EARNINGS PER SHARE

          Basic  earnings  per share  amounts are  computed  based on net income
          divided by the weighted  average number of shares  actually issued and
          outstanding.

          Diluted earnings per share amounts for the nine and three months ended
          September 30, 2004 and 2003 are based on the weighted  average  number
          of shares  calculated for basic earnings per share purposes  increased
          by (when  dilutive)  the number of shares  that  would be  outstanding
          assuming  the  exercise  of  certain   outstanding  stock  options  or
          warrants.  Outstanding options to purchase 385,000 of common shares in
          2004 and 2003 were not included in the computation of diluted earnings
          per share because their per share  exercise price was greater than the
          average per share market price of the Company's common shares.

          Stock-Based Compensation The Company adopted the disclosure provisions
          of SFAS No. 148, "Accounting for Stock-Based Compensation - Transition
          and  Disclosure."  At September 30, 2004 and 2003, the Company had one
          stock-based employee  compensation plan. The Company accounts for this
          plan under the intrinsic value recognition and measurement  principles
          of APB Opinion No. 25, "Accounting for Stock Issued to Employees," and
          related interpretations.

          If the Company had elected to recognize compensation cost based on the
          fair value of the options  granted at grant date as prescribed by SFAS
          No.  123,  net income and  earnings  per common  share would have been
          reduced to the pro forma amount as follows:
<TABLE>
                   <S>                                          <C>             <C>

                                                                     Nine Months Ended
                                                                       September 30,
                                                                    2004           2003
                                                                 ---------      ----------

             Net income, as reported                             $ 799,556      $  297,488

             Deduct: Total stock-based employee
              compensation expense determined under
              fair value based method for all awards, net
              of tax effects                                             -               -
                                                                 ---------      ----------

             Pro-forma net income                                $ 799,556      $  297,488
                                                                 =========      ==========

             Earnings per share:
                  Basic and diluted - as reported                $     .13      $      .05
                                                                 =========      ==========
                  Basic and diluted - pro-forma                  $     .13      $      .05
                                                                 =========      ==========



</TABLE>

                                  (9)
<PAGE>
                       MORO CORPORATION
               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                          (Unaudited)


NOTE 4    EARNINGS PER SHARE (CONTINUED)

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


                                                                    Three Months Ended
                                                                       September 30,
                                                                    2004           2003
                                                                 ---------      ----------

              Net income, as reported                       $     282,009      $    195,276

               Deduct: Total stock-based employee
                compensation expense determined under
                fair value based method for all awards, net
                of tax effects                                           -                 -
                                                             -------------      ------------

               Pro-forma net income                          $     282,009      $    195,276
                                                             =============      ============

               Earnings per share:
                    Basic and diluted - as reported          $         .05      $        .03
                                                             =============      ============
                    Basic and diluted - pro-forma            $         .05      $        .03
                                                             =============      ============

</TABLE>



NOTE 5    DEMAND NOTES PAYABLE, BANK

          The  Company  through its  subsidiaries  maintains  credit  facilities
          totaling $4,150,000,  which are collateralized by substantially all of
          the Company's  assets.  The credit  facilities  require the Company to
          maintain  certain  financial  covenants,  which  the  Company  was  in
          compliance  with at September  30, 2004.  These  facilities  expire on
          November 30, 2004.

NOTE 6    SEGMENT INFORMATION

          The Company operates in two business segments:  Construction Materials
          and  Mechanical  Contracting.   The  operating  segments  are  managed
          separately  and  maintain  separate  personnel  due to  the  differing
          services and products offered by each segment.




                                      (10)
<PAGE>







                                MORO CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 6    SEGMENT INFORMATION (CONTINUED)

          Operating  segment  information  (unaudited) for the nine months ended
          September 30, 2004 and 2003 is as follows:

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

               Nine Months Ended          Construction         Mechanical
                Sept. 30, 2004              Materials          Contracting        Corporate            Total
          --------------------------    ----------------   -----------------   ---------------   ----------------

          Total revenues                $     12,970,564   $       8,530,885   $             -   $     21,501,449

          Gross profit                  $      3,515,421   $         584,526   $             -   $      4,099,947

          Operating segment
           income (loss) from
           operations                   $      1,357,461   $          (1,350)  $       (13,824)  $      1,342,287

          Total segment assets          $      6,489,354   $       4,388,382   $        10,609   $     10,888,345

          Depreciation and
           amortization expense         $        113,892   $         132,963   $             -   $        246,855



          Nine Months Ended               Construction         Mechanical
             Sept. 30, 2003                 Materials          Contracting        Corporate            Total
          --------------------------    ----------------   -----------------   ---------------   ----------------

          Total revenues                $      8,029,689   $      10,030,581   $             -   $     18,060,270

          Gross profit                  $      1,523,609   $         897,229   $             -   $      2,420,838

          Operating segment
           income (loss) from
           operations                   $        306,678   $         390,509   $       (79,424)  $        617,763

          Total segment assets          $      3,687,299   $       4,312,858   $       102,465   $      8,102,622

          Depreciation and
           amortization expense         $         82,856   $         122,971   $             -   $        205,827



</TABLE>

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<PAGE>






                            MORO CORPORATION
               NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               (Unaudited)


NOTE 6    SEGMENT INFORMATION (CONTINUED)

          Operating segment  information  (unaudited) for the three months ended
          September 30, 2004 and 2003 is as follows:
<TABLE>
           <S>                          <C>                    <C>            <C>                <C>

               Three Months Ended          Construction         Mechanical
                 Sept. 30, 2004              Materials          Contracting        Corporate            Total
           --------------------------    ----------------   -----------------   ---------------   ----------------

           Total revenues                $      4,689,482   $       3,686,865   $             -   $      8,376,347

           Gross profit                  $      1,277,696   $         224,400   $             -   $      1,502,096

           Operating segment
            income (loss) from
            operations                   $        391,145   $          86,835   $        22,691   $        500,671

           Total segment assets          $      6,489,354   $       4,388,382   $        10,609   $     10,888,345

           Depreciation and
            amortization expense         $         41,947   $          43,173   $             -   $         85,120

               Three Months Ended          Construction         Mechanical
                  Sept. 30, 2003             Materials          Contracting        Corporate            Total
           --------------------------    ----------------   -----------------   ---------------   ----------------

           Total revenues                $      3,450,305   $       3,510,936   $             -   $      6,961,241

           Gross profit                  $        651,699   $         305,937   $             -   $        957,636

           Operating segment
            income (loss) from
            operations                   $        235,771   $         172,433   $       (19,919)  $        388,285

           Total segment assets          $      3,687,299   $       4,312,858   $       102,465   $      8,102,622

           Depreciation and
            amortization expense         $         31,360   $          34,809   $             -   $         66,169
</TABLE>

NOTE 7    RELATED PARTY TRANSACTION

          During April 2004, the principal shareholder of the Company purchased,
          through an entity owned by such principal,  the office,  warehouse and
          shop facilities used by a subsidiary of the Company.  The purchase was
          made at the time of the purchase by the Company's subsidiary of assets
          of the company operating the facility. The subsidiary has entered into
          a new lease  agreement  with an initial  five year term of $45,000 per
          year plus three five year options that extend  through April 2019. The
          Company  believes  that the  rental  set forth in the lease is at fair
          market value.




                                   (12)
<PAGE>



Item 2. Management's Discussion and Analysis or Plan of Operations.

Forward Looking  Statements
This Form 10-QSB contains certain forward looking  statements  regarding,  among
other things,  the anticipated  financial and operating  results of the Company.
For this purpose, forward looking statements are any statements contained herein
that are not statements of historical fact and include,  but are not limited to,
those   preceded  by  or  that   include  the  words,   "believes,"   "expects,"
"anticipates," or similar expressions. Those statements are subject to known and
unknown  risks,  uncertainties  and other  factors  that could  cause the actual
results  to  differ  materially  from  those  contemplated  by  the  statements.
Important  factors  that  could  cause the  Company's  actual  results to differ
materially from those projected  include,  for example (i) there is no assurance
that the Company can locate and purchase  businesses  that meet its criteria for
acquisition,  (ii) there is no  assurance  that the Company  will  achieve  high
returns on capital because of, among other reasons,  unanticipated  fluctuations
in  costs  such as  material  and  labor,  ineffective  management  of  business
operations, or adverse change in the demand in the marketplace for our products,
or (iii) there may be  unanticipated  issues  relating to the integration of new
businesses  into our existing  management  and corporate  culture.  Although the
Company  believes  that the  forward  looking  statements  contained  herein are
reasonable,  it can give no assurance  that the Company's  expectations  will be
met.

Critical  Accounting  Policies
The preparation of financial  statements  requires  management to make estimates
and assumptions that affect amounts reported therein.  The financial  statements
are prepared in conformity with accounting  principals generally accepted in the
United  State of  America,  and,  as such,  include  amounts  based on  informed
estimates  and  judgments  of  management.  For example,  estimates  are used in
determining total contract costs and profitability and valuation  allowances for
uncollectible receivables and obsolete inventory. Actual results achieved in the
future could differ from  current  estimates.  The Company used what it believes
are  reasonable   assumptions  and  where  applicable,   established   valuation
techniques  in making its  estimates.  Management  believes the  Company's  most
critical accounting policies are discussed below.

Revenue  Recognition
Revenue from product  sales is  recognized  upon  shipment to  customers,  title
passing and all obligations for the Company have been satisfied.  Provisions for
returns are provided for in the same period the related sales are recorded.

Contract Revenue and Cost Recognition
Revenues    from    construction     contracts    are    recognized    on    the
percentage-of-completion  method,  measured  by the  percentage  of direct  cost
incurred to date to the  estimated  total  direct cost for each  contract.  That
method is used  because  management  considers  total direct cost to be the best
available measure of progress on the contracts.  Revenues from time and material
contracts are recognized currently as the work is performed.




                                      (13)
<PAGE>


Contract  costs  include all direct  material,  labor,  subcontractor  and those
indirect  costs that  relate to  construction  performance.  All other costs are
expensed as incurred.  Provisions for estimated losses on uncompleted  contracts
are made in the period in which such losses are first determined. Changes in job
performance,  job conditions and estimated profitability may result in revisions
to costs and income and are  recognized in the period in which the revisions are
determined. The Company recognizes claim and contract modification costs as they
are  incurred and revenues  when  realization  is probable and the amount can be
reliably  estimated,  which  is  generally  at the  time  a  claim  or  contract
modification is accepted by all parties.  Because of the inherent  uncertainties
in estimating costs, it is at least reasonably  possible that the estimates used
will change in the near term.

The asset,  "Costs and estimated  earnings in excess of billings on  uncompleted
contracts"  represents  revenues  recognized  in excess of amounts  billed.  The
liability,  "Billings in excess of costs and estimated  earnings on  uncompleted
contracts" represents billings in excess of revenues recognized.

Inventory
Inventory  is  recorded  at the  lower of cost or  market  using  the  first-in,
first-out (FIFO) method.

Income  Taxes
Income taxes are provided  for the tax effects of  transactions  reported in the
financial  statements  and consist of taxes  currently due plus  deferred  taxes
related  primarily to  differences  between the basis of balance sheet items for
financial and income tax reporting.  The deferred tax liabilities  represent the
future tax  return  consequences  of those  differences,  which  will  either be
taxable or deductible when the liabilities are settled. A valuation allowance is
provided when realization of a deferred tax asset is unlikely.

Results of Operations
Percentage of total revenues for key revenue and expenditures for the nine
months ended September 30, 2004 and 2003 are as follows:

                                                Nine Months         Nine Months
                                                    Ended             Ended
                                                 Sept. 30,           Sept. 30,
                                                    2004                2003
                                               ------------        ------------

   Construction Materials Sales                       60.3%               44.5%
   Mechanical Contracting Sales                       39.7%               55.5%
                                               ------------        ------------
         Total                                       100.0%              100.0%
                                               ------------        ------------

   Cost of Goods Sold                                 44.0%               36.0%
   Cost of Construction Contract Revenue              36.9%               50.6%
                                               ------------        ------------
         Total                                        80.9%               86.6%
                                               ------------        ------------

   Gross Profit                                       19.1%               13.4%

   Operating Expenses                                 12.8%               10.0%
                                               ------------        ------------

   Operating Income                                    6.3%                3.4%
   Other Income (Expenses)                            (0.1%)              (0.6%)
                                               -------------       -------------
   Income Before Income Taxes                          6.2%                2.8%
   Provision for Income Taxes                          2.5%                1.2%
                                               ------------        ------------

   Net Income                                          3.7%                1.6%
                                               ============        ============



                                      (14)
<PAGE>


Percentage of total revenues for key revenue and expenditures for the three
months ended September 30, 2004 and 2003 are as follows:

                                               Three Months         Three Months
                                                   Ended               Ended
                                                 Sept. 30,            Sept. 30,
                                                    2004                2003
                                                -----------        ------------

   Construction Materials Sales                       56.0%               49.6%
   Mechanical Contracting Sales                       44.0%               50.4%
                                                -----------        ------------
         Total                                       100.0%              100.0%
                                                -----------        ------------

   Cost of Goods Sold                                 40.7%               40.2%
   Cost of Construction Contract Revenue              41.4%               46.0%
                                                -----------        ------------
         Total                                        82.1%               86.2%
                                                -----------        ------------

   Gross Profit                                       17.9%               13.8%

   Operating Expenses                                 11.9%                8.2%
                                                -----------        ------------

   Operating Income                                    6.0%                5.6%
   Other Income (Expenses)                            (0.6%)              (0.8%)
                                                ------------       -------------
   Income Before Income Taxes                          5.4%                4.8%
   Provision for Income Tax                            2.1%                2.0%
                                                -----------        ------------

   Net Income                                          3.3%                2.8%
                                                ===========        ============

Three Months Ended September 30, 2004

Total  revenues for the three months ended  September  30, 2004 were  $8,376,347
compared  with  $6,961,241  for the  same  period a year  ago,  an  increase  of
$1,415,106  or 20%.  Revenues  from the  Construction  Materials  division  were
$4,689,482  for  the  three  months  ended  September  30,  2004  compared  with
$3,450,305  for the three months ended  September  30, 2003, an increase of 36%.
This  increase was  attributable  to strong demand for the  division's  products
accompanied by higher unit selling prices and revenues from a business  acquired
in April 2004.  Steel demand and profit margins have recently started to soften,
and  therefore,  earnings  during  the  last  three  months  of the year are not
expected  to be as strong as they were  during  the first  nine  months of 2004.
Revenues in the Mechanical  Contracting  division were  $3,686,865 for the three
months ended  September 30, 2004 compared with  $3,510,936  for the three months
ended September 30, 2003.

The total  cost of  revenues  for the three  months  ended  September  30,  2004
increased by $870,646,  which is primarily due to the increase in costs totaling
$613,180  for  the  Construction  Material  division,  which,  as  noted  above,
experienced a significant increase in revenue.

The gross profit margin for the three months ended  September 30, 2004 was 17.9%
compared  with  13.8%  for the  same  period  a year  ago,  an  increase  of 4.1
percentage  points.  The gross  profit  margin  for the  Construction  Materials
division  increased by 8.3 percentage  points and the balance was due to a lower
gross margin realized by the Mechanical Contracting division.

Selling,  general  and  administrative  expenses  for  the  three  months  ended
September  30, 2004  increased by  $432,074,  compared to the three months ended
September 30, 2003.  This increase is primarily due to the business  acquired in
April 2004.


                                      (15)
<PAGE>


Net income for the three months ended  September 30, 2004 was $282,009  compared
with a net income of $195,276  for the same period a year ago.  The increase was
attributable to improved  performance for the  Construction  Materials  division
(higher  sales and higher profit  margins due to higher unit selling  prices and
profits from a business acquired in April 2004).

Nine Months Ended September 30, 2004

Total  revenues for the nine months ended  September  30, 2004 were  $21,501,449
compared  with  $18,060,270  for the same  period a year  ago,  an  increase  of
$3,441,179  or 19%.  Revenues  from the  Construction  Materials  division  were
$12,970,564  for  the  nine  months  ended  September  30,  2004  compared  with
$8,029,689  for the nine months ended  September  30, 2003,  an increase of 62%.
This  increase was  attributable  to strong demand for the  division's  products
accompanied by higher unit selling prices and revenues from a business  acquired
in April 2004.  Steel demand and profit margins have recently started to soften,
and  therefore,  earnings  during  the  last  three  months  of the year are not
expected to be as strong as they were during the first nine months of 2004. This
increase  was  partially   offset  by  a  revenue  decrease  in  the  Mechanical
Contracting  division,  which was $8,530,885 for the nine months ended September
30, 2004 compared with $10,030,581 for the nine months ended September 30, 2003.
This decrease in the Mechanical  Contracting division is attributed to customers
delaying  projects.  These delays are expected to be  compensated  for by higher
billings later this year.

The  total  cost of  revenues  for the nine  months  ended  September  30,  2004
increased  by  $1,762,070,  which  is  primarily  due to the  increase  in costs
totaling  $2,949,063 for the  Construction  Material  division,  which, as noted
above,  experienced a significant  increase in revenue offset by decreased costs
in the Mechanical Contracting division of $1,186,993 for the same period.

The gross profit  margin for the nine months ended  September 30, 2004 was 19.1%
compared  with  13.4%  for the  same  period  a year  ago,  an  increase  of 5.7
percentage  points.  The gross  profit  margin  for the  Construction  Materials
division  increased by 8.1 percentage  points and the balance was due to a lower
gross margin realized by the Mechanical Contracting division.

Selling, general and administrative expenses for the nine months ended September
30, 2004 increased by $954,585,  compared to the nine months ended September 30,
2003. This increase is primarily due to the business acquired in April 2004.

Net income for the nine months ended  September  30, 2004 was $799,556  compared
with $297,488 for the same period a year ago. The increase was  attributable  to
improved  performance for the Construction  Materials division (higher sales and
higher  profit  margins due to higher unit  selling  prices) and profits  from a
business acquired in April 2004.

Financial  Condition
Total  assets  increased  to  $10,888,345  at  September  30,  2004  compared to
$7,444,982  at December 31, 2003, an increase of  $3,443,363.  This increase was
due  to  higher  receivables  ($1,863,872),  higher  inventory  ($971,400),  net
purchases of property  and  equipment  ($143,235),  goodwill  resulting  from an
acquisition  ($240,007),  a purchase  of prepaid  materials  for a  construction
project  ($34,100),  increase  in cash  ($116,024),  equity in earnings of Joint
Venture ($100,239) and other items decreased, net ($25,514).




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<PAGE>


Liquidity and Capital  Resources
For the nine months ended  September 30, 2004,  there was a net increase of cash
and cash  equivalents  of $116,024.  Cash flows used in operating  activities of
$271,588 and investing  activities of $881,139 were substantially offset by cash
flows provided by financing activities of $1,268,751.

As of  September  30, 2004,  cash on hand was  $552,780 and working  capital was
$2,931,639.  The Company  believes that its financial  resources are adequate to
fund the current level of operations. The Company does not expect to purchase or
sell any significant property and equipment during the next twelve months except
that which would be associated with possible business acquisitions.

The  Company  through  its  subsidiaries  maintains  line of  credit  facilities
totaling  $4,150,000,  which  are  collateralized  by  substantially  all of the
Company's assets.  The credit facilities require the Company to maintain certain
financial  covenants,  which the Company was in compliance with at September 30,
2004.  At  September  30,  2004,  the  borrowings  under the line of credit were
$2,107,526 and the availability of additional  borrowings was $1,461,718.  These
facilities  expire  November 30, 2004. The Company is in the process of renewing
or replacing these facilities.


Item 3. Controls and Procedures

        Disclosure Controls and Procedures

        Evaluation  of  disclosure  controls  and  procedures.  Based  on  their
        evaluation  of the  Company's  disclosure  controls and  procedures  (as
        defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the
        "Exchange  Act")),   the  principal   executive  officer  and  principal
        financial  officer  have  concluded  that  as of the  end of the  period
        covered by this Quarterly Report on Form 10-QSB such disclosure controls
        and procedures are effective to ensure that  information  required to be
        disclosed by the Company in reports  that it files or submits  under the
        Exchange Act is recorded, processed,  summarized and reported within the
        required time periods.

        Internal Control Over Financial Reporting

        Changes in internal control over financial reporting. During the quarter
        under report, there was no change in the Company's internal control over
        financial  reporting  that has  materially  affected,  or is  reasonably
        likely  to  materially  affect,  the  Company's  internal  control  over
        financial reporting.






                                      (17)
<PAGE>


PART II - OTHER INFORMATION

Item 1.Legal Proceedings

       At September 30, 2004, there were no legal proceedings against
       the Company.

Item 2.Changes in Securities and Use of Proceeds

       None

Item 3.Default Upon Senior Securities

       None

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

       None

Item 5.Other Information

       None

Item 6.Exhibits

           31   Statement  of  Chief   Executive  and  Chief  Financial
                Officer (filed herewith).

           32   Certification  pursuant to 18 U.S.C.  Section  1350, as
                adopted  pursuant to Section 906 of the  Sarbanes-Oxley
                Act of 2002.





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<PAGE>





                                   SIGNATURES

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


                                                MORO CORPORATION

                                      By:       /s/ David W. Menard
                                         ---------------------------------------

                                         David W. Menard
                                         Chief Executive Officer
                                         and Chief Financial Officer




                                      (19)