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 March 31, 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)



      Check  whether  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 April 30, 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

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

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


ITEM 1.  CONSOLIDATED FINANCIAL STATEMENTS

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

         Consolidated Statements of Income for the Three Months
         Ended March 31, 2004 and 2003                                         3

         Consolidated Statements of Cash Flows for the Three Months
         Ended March 31, 2004 and 2003                                         4

         Notes to Consolidated Financial Statements                          5-8


ITEM 2   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS                                9-12

ITEM 3   CONTROLS AND PROCEDURES                                              12

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


ITEM 1.  LEGAL PROCEEDINGS                                                    13

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS                            13

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                                      13

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS                  13

ITEM 5.  OTHER INFORMATION                                                    13

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K                                     13

         SIGNATURES                                                           14

         CERTIFICATIONS                                                    15-16






<PAGE>



                                MORO CORPORATION
                           CONSOLIDATED BALANCE SHEETS
                      MARCH 31, 2004 AND DECEMBER 31, 2003



                                                  March 31,
                                                   2004             December 31,
                                                (Unaudited)            2003
                                               -------------       -------------
                    ASSETS

CURRENT ASSETS
 Cash and Cash Equivalents .................... $    205,880       $     436,756
 Trade Accounts Receivable, Net ...............    2,488,285           2,413,597
 Accounts Receivable on Contracts
  (Including Retentions) ......................    1,727,560           1,718,852
 Inventory ....................................      898,383             708,046
 Costs and Estimated Earnings in Excess
  of Billings on Uncompleted Contracts ........      278,976             362,745
 Investment in Joint Venture ..................      203,796             145,796
 Prepaid Income Taxes .........................        5,419              40,013
 Other Current Assets .........................       81,395              31,823
                                               -------------       -------------
        Total Current Assets .................     5,889,694           5,857,628

PROPERTY AND EQUIPMENT, NET ..................     1,241,622           1,167,787

OTHER INTANGIBLE ASSETS, NET .................        17,500              26,508

OTHER ASSETS .................................        87,518               7,718

GOODWILL .....................................       385,341             385,341
                                               -------------       -------------

        Total Assets ......................... $   7,621,675       $   7,444,982
                                               =============       =============









See accompanying Notes to Consolidated Financial Statements
                                      (1)
<PAGE>


                                MORO CORPORATION
                           CONSOLIDATED BALANCE SHEETS
                      MARCH 31, 2004 AND DECEMBER 31, 2003


                                                  March 31,
                                                   2004             December 31,
                                                (Unaudited)            2003
                                               -------------        ------------

  LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
 Line of Credit ................................$  1,051,699       $     862,399
 Current Portion of Long-Term Debt .............     434,941             437,941
 Trade Accounts Payable ........................   1,368,330           1,405,901
 Due to Former Owner ...........................     365,717             431,322
 Accrued Expenses ..............................     194,226             222,864
 Billings in Excess of Costs and Estimated
  Earnings on Uncompleted Contracts ............     250,119              40,410
                                                -------------      -------------
        Total Current Liabilities .............    3,665,032           3,400,837

LONG-TERM LIABILITIES
 Long-Term Debt ................................     783,809             948,388
 Convertible Debentures ........................     650,000             650,000
 Deferred Tax Liability ........................     164,000             159,000
                                               -------------       -------------
        Total Long-Term Liabilities ...........    1,597,809           1,757,388

STOCKHOLDERS' EQUITY
 Preferred Stock, $.001 Par Value, Authorized
  5,000,000 Shares; None Issued or Outstanding
  at March 31, 2004 and December 31, 2003 ......           -                   -
 Common Stock, $.001 Par Value, Authorized
  25,000,000 Shares; Issued and Outstanding
  6,250,000 Shares at March 31, 2004 and
  December 31, 2003 ............................       6,250               6,250
 Additional Paid-In Capital ....................     793,325             793,325
 Retained Earnings .............................   1,559,259           1,487,182
                                               -------------       -------------
   Total Stockholders' Equity .................    2,358,834           2,286,757
                                               -------------       -------------

   Total Liabilities and Stockholders' Equity .$   7,621,675       $   7,444,982
                                               =============       =============




See accompanying Notes to Consolidated Financial Statements

                                      (2)
<PAGE>

<TABLE>
<CAPTION>


                                MORO CORPORATION
                        CONSOLIDATED STATEMENTS OF INCOME
                   THREE MONTHS ENDED MARCH 31, 2004 AND 2003
                                   (Unaudited)



                                                  For the Three Months Ended March 31,
                                                       2004                 2003
                                                  -------------         -------------

REVENUES
<S>                                              <C>                  <C>
   Construction Materials Sales, Net ...........  $   3,427,666         $   1,428,711
   Mechanical Contracts Revenue Earned .........      1,785,015             3,287,990
                                                  -------------         -------------
              Total Revenues ...................      5,212,681             4,716,701
COST OF REVENUES
   Cost of Goods Sold ..........................      2,607,214             1,123,525
   Cost of Construction Contract Revenue .......      1,834,827             2,927,138
                                                  -------------         -------------
              Total Cost of Revenues ...........      4,442,041             4,050,663

GROSS PROFIT ...................................        770,640               666,038

OPERATING EXPENSES
   Selling, General and Administrative Expenses         670,512               671,827
                                                  -------------         -------------

OPERATING INCOME (LOSS) ........................        100,128                (5,789)

OTHER INCOME (EXPENSE)
   Other .......................................          2,805                 4,412
Interest Income ................................            404                 1,542
Interest Expense ...............................        (43,560)              (39,299)
Equity in Earnings of Joint Venture ............         58,000                     -
                                                  -------------         -------------

INCOME (LOSS) BEFORE INCOME TAXES ..............        117,777               (39,134)

PROVISION (BENEFIT) FOR INCOME TAXES ...........         45,700               (11,342)
                                                  -------------         -------------

NET INCOME (LOSS) $ ............................  $      72,077         $     (27,792)
                                                  -------------         -------------

EARNINGS PER SHARE - BASIC AND DILUTED .........  $        0.01         $          -
                                                  =============         =============

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

</TABLE>





See accompanying Notes to Consolidated Financial Statements

                                       (3)
<PAGE>


                                MORO CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                   THREE MONTHS ENDED MARCH 31, 2004 AND 2003
                                   (Unaudited)

<TABLE>
<CAPTION>


                                                               For the Three Months Ended March 31,
                                                                   2004                     2003
                                                               -------------          -------------
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                                           <C>                    <C>
   Net Income (Loss) .......................................   $      72,077          $     (27,792)
   Adjustments to Reconcile Net Income (Loss) to
    Net Cash Provided by (Used in) Operating Activities:
     Amortization ..........................................           9,008                  8,885
     Depreciation ..........................................          69,420                 58,168
     Equity in Earnings of Joint Venture ...................         (58,000)                   --
     Deferred Income Taxes .................................           5,000                 13,000
   Changes in Assets and Liabilities, Net of Acquisitions:
     Trade Accounts Receivable .............................         (74,688)               572,849
     Contract Accounts Receivable ..........................          (8,708)                17,630
     Inventory .............................................        (190,337)               (81,565)
     Costs in Excess of Billings ...........................          83,769                418,437
     Prepaid Income Taxes ..................................          34,594               (225,342)
     Other Current Assets ..................................         (49,572)               (26,953)
     Other Assets ..........................................         (79,800)                (1,500)
     Trade Accounts Payable ................................         (37,571)               315,804
     Due to Former Owner ...................................         (65,605)               (38,207)
     Accrued Expenses ......................................         (28,638)              (251,886)
     Billings in Excess of Costs ...........................         209,709               (458,876)
                                                               -------------          -------------
        Net Cash (Used in) Provided by Operating Activities         (109,342)               292,652

CASH FLOWS FROM INVESTING ACTIVITIES
   Purchase of Property and Equipment ......................        (143,255)               (46,242)
   Business Acquisition Costs ..............................               -                 (4,478)
                                                               -------------          -------------
        Net Cash Used in Investing Activities ..............        (143,255)               (50,720)

CASH FLOWS FROM FINANCING ACTIVITIES
   Proceeds of Line of Credit ..............................         357,300                648,600
   Repayments of Line of Credit ............................        (168,000)              (915,000)
   Proceeds of Notes Payable ...............................               -                 20,000
   Principal Payments of Notes Payable .....................        (167,579)              (164,798)
                                                               -------------          -------------
         Net Cash Provided by (Used in) Financing Activities          21,721               (411,198)
                                                               -------------          -------------

NET DECREASE IN CASH .......................................        (230,876)              (169,266)

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

CASH - ENDING ..............................................   $     205,880          $     806,973
                                                               =============           ============

SUPPLEMENTAL DISCLOSURE OF
 CASH FLOW INFORMATION
   Cash Paid for Interest ..................................   $      26,659          $      28,844
                                                               =============          =============
   Cash Paid for Taxes .....................................   $       9,000          $     200,000
                                                               =============           ============
</TABLE>

See accompanying Notes to Consolidated Financial Statements


                                       (4)
<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 March 31, 2004 and for the three months
        ended March 31, 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").

NOTE 3  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.



                                       (5)
<PAGE>

                                MORO CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 3  EARNINGS PER SHARE (CONTINUED)

        Diluted  earnings per share amounts for the three months ended March 31,
        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 March 31, 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
        123,  net income and  diluted  income per common  share  would have been
        reduced to the pro forma amount as follows:
<TABLE>
<CAPTION>

                                                               Three Months Ended
                                                            -------------------------
                                                            March 31,       March 31,
                                                              2004            2003
                                                           ----------      ----------

          <S>                                             <C>             <C>
           Net income (loss), as reported                  $   72,077      $  (27,792)
                                                           ----------      ----------
           Deduct: Total stock-based employee
            compensation expense determined under
            fair value based method for all awards, net
            of tax effects                                          -               -
                                                           ----------      ----------

           Pro-forma net income (loss)                     $   72,077      $  (27,792)
                                                           ==========      ==========
           Earnings per share:
                Basic and diluted - as reported            $      .01      $        -
                                                           ==========      ==========
                Basic and diluted - pro-forma              $      .01      $        -
                                                           ==========      ==========
</TABLE>


NOTE 4  DEMAND NOTES PAYABLE, BANK

        The  Company  through  its  subsidiaries   maintains  credit  facilities
        totaling  $4,150,000,  which are collateralized by the Company's assets.
        The credit facilities  require the Company to maintain certain financial
        covenants,  which the Company was in compliance  with at March 31, 2004.
        These facilities expire on June 30, 2004.


                                       (6)
<PAGE>

                                MORO CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 5  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.

        Operating  segment  information  (unaudited)  for the three months ended
        March 31, 2004 and 2003 is as follows:
<TABLE>
<CAPTION>

         Three Months Ended    Construction     Mechanical
           March 31, 2004       Materials       Contracting      Corporate          Total
        ---------------------  ------------    --------------   ------------    -----------

        <S>                  <C>             <C>              <C>            <C>
        Revenues               $  3,427,666    $   1,785,015    $         -    $  5,212,681

        Gross profit           $    820,452    $     (49,812)   $         -    $    770,640
        Operating segment
         income (loss) from
         operations            $    354,901    $    (215,481)   $   (39,292)   $    100,128

        Total segment assets   $  3,894,287    $   3,694,932    $    32,456    $  7,621,675

        Depreciation and
         amortization expense  $     31,986    $      46,442    $         -    $     78,428


         Three Months Ended    Construction      Mechanical
            March 31, 2003      Materials        Contracting      Crporate          Total
        ---------------------  ------------    --------------   ------------    -----------

        Revenues               $  1,428,711   $   3,287,990    $         -     $  4,716,701
        Gross profit           $    305,186   $     360,852    $         -     $    666,038
        Operating segment
         income (loss) from
         operations            $    (62,061)  $      69,562    $   (13,290)    $     (5,789)

        Total segment assets   $  2,859,331   $   4,489,955    $   121,933     $  7,471,219

        Depreciation and
         amortization expense  $     23,513   $      43,540    $         -     $     67,053
</TABLE>

NOTE 6  COMMITMENTS AND CONTINGENCIES

        Rado Acquisition Earnings Contingency
        -------------------------------------
        The  Company  is  required  to  pay to a  former  owner  of an  acquired
        business,  additional  excess profits,  as defined in the Asset Purchase
        Agreement,  related  to a  certain  customer  contract.  The  mechanical
        contract is  substantially  complete  and it appears  probable an amount
        will be paid in accordance with the terms above; therefore,  the Company
        has accrued  expense of $172,393 as of March 31,  2004,  related to this
        matter.

                                       (7)
<PAGE>


                                MORO CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 7  SUBSEQUENT EVENT

        On April 13, 2004, the Company acquired all of the operating assets of a
        fabricator and distributor of reinforcing,  structural and miscellaneous
        steel  sold  to  contractors,  metalworking  firms  and end  users.  The
        purchase price was approximately $640,000 payable in cash and notes.

NOTE 8  RELATED PARTY TRANSACTION

        During April 2004, the principal  shareholder of the Company  purchased,
        through  an entity  owned by such  principal  shareholder,  the  office,
        warehouse and shop facilities  used by a subsidiary of the Company.  The
        purchase  was made in  connection  with the  purchase  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's
        management  set the lease  rate at the fair  market  value  based on the
        advice from an independent professional real estate appraisal firm.










                                      (8)
<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 to conformity with generally accepted accounting  principles,  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.




                                       (9)
<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 three
months ended March 31, 2004 and 2003 are as follows:

                                               Three Months     Three Months
                                                   Ended            Ended
                                                 March 31,        March 31,
                                                   2004             2003
                                               -------------    -------------

   Construction Materials Sales                        65.8%            30.3%
   Mechanical Contracting Sales                        34.2%            69.7%
                                               -------------    -------------
         Total                                        100.0%           100.0%
                                               -------------    -------------

   Cost of Goods Sold                                  50.0%            23.8%
   Cost of Construction Contract Revenue               35.2%            62.1%
                                               -------------    -------------
         Total                                         85.2%            85.9%
                                               -------------    -------------

   Gross Profit                                        14.8%            14.1%

   Operating Expenses                                  12.9%            14.2%
                                               -------------    -------------

   Operating Income (Loss)                              1.9%            -0.1%
   Interest and Other Expenses, Net                     0.4%            -0.7%
                                               -------------    -------------
   Income Before Income Taxes                           2.3%            -0.8%
   Income Tax                                           0.9%            -0.2%
                                               -------------    -------------

   Net Income                                           1.4%            -0.6%
                                               =============    =============



                                      (10)
<PAGE>


Three Months Ended March 31, 2004

Total  revenues  for the  three  months  ended  March 31,  2004 were  $5,212,681
compared with $4,716,701 for the same period a year ago, an increase of $495,980
or 10.5%.  The revenue  increase  attributable to revenues from the Construction
Materials  division  which were  $3,427,666 for the three months ended March 31,
2004 compared with  $1,428,711  for the three months ended March 31, 2003.  This
increase  was  attributable  to  strong  demand  for  the  division's   products
accompanied by higher unit selling prices. This increase was offset by a revenue
decrease in the Mechanical  Contracting  division which were  $1,785,015 for the
three months ended March 31, 2004 compared with  $3,287,990 for the three months
ended March 31, 2003.  The 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 cost of revenues  for the three  months  ended March 31, 2004  increased  by
$391,378,  which is primarily due to the increase in costs  totaling  $1,483,689
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 $1,092,311 for the same period.

The gross  profit  margin for the three  months  ended  March 31, 2004 was 14.8%
compared with 14.1% for the same period a year ago, an increase of .7 percentage
points.  The  gross  profit  margin  for  the  Construction  Materials  division
increased by 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 March
31, 2004 decreased by $1,315, compared to the three months ended March 31, 2003.

Net income for the three months ended March 31, 2004 was $72,077 compared with a
net  loss  of  $27,792  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)
partially offset by all or a portion of the loss for the Mechanical  Contracting
division  during the first  quarter  2004  versus  profit a year ago.  Potential
recoveries  from the "loss of productivity  claims,"  expected to be made by the
Company should, if realized, offset losses incurred.  Historically,  the Company
has had a high realization rate for such claims.

Financial Condition

Total assets  slightly  increased to  $7,621,675  at March 31, 2004  compared to
$7,444,982 at March 31, 2003. Trade accounts  receivable  totaled  $2,488,285 at
March 31, 2004 compared to $2,413,597 at March 31, 2003.  Accounts receivable on
contracts  totaled  $1,727,560 at March 31, 2004 compared to $1,718,852 at March
31, 2003.

Liquidity and Capital Resources

For the three months  ended March 31, 2004,  there was a net decrease of cash of
$230,876.  Cash flows  provided by financing  activities  of $21,721 were offset
primarily  by cash flows used in  operating  activities  of $109,342 and capital
expenditures of $143,225.

As of March  31,  2004,  cash on hand  was  $205,880  and  working  capital  was
$2,224,662.  The Company  believes that its financial  resources are adequate to
fund the current level of operations.  Except for the subsequent event described
in Note 7, the  Company  does not  expect to  purchase  or sell any  significant
property and equipment during the next twelve months.


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<PAGE>


The  Company  through  its  subsidiaries  maintains  line of  credit  facilities
totaling  $4,150,000,  which are  collateralized  by the Company's  assets.  The
credit facilities  require the Company to maintain certain financial  covenants,
which the Company was in  compliance  with at March 31, 2004. At March 31, 2004,
the borrowings  under the line of credit were $1,051,699 and the availability of
additional borrowings was $2,442,000.


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.






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<PAGE>


PART II-OTHER INFORMATION

Item 1. Legal Proceedings

        At March 31, 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

        (a)  Exhibits

             10.19   Asset  Purchase  Agreement  dated  March 23,  2004  between
                     J.M.  Ahle  Co.,  Inc., Car-Bon, Inc. and Burton F. Abel.

             10.20   Fifth  Amendment  to Loan and Security Agreement dated
                     April 12, 2004 by and among Sovereign Bank, David W. and
                     Jacqueline Menard, and Moro Corporation.

             10.21   $120,000  Equipment  Term Note dated April 12, 2004 by
                     J.M.  Ahle Co., Inc. in favor of Sovereign Bank as payee.

             10.22   Lease  Agreement  between JAD  Associates,  LLC and
                     J.M. Ahle Co., Inc.  dated April 12, 2004.

             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.

        (b) Reports on Form 8-K - None.





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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

Date:  May 10, 2004                       By:  /s/ David W. Menard
                                          ----------------------------

                                          David W. Menard
                                          Chief Executive Officer
                                           and Chief Financial Officer




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