UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                   FORM 10-QSB



(Mark One)

/X/    QUARTERLY REPORT PURSUANT TO 13 OR 15(d)
       OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2001

/  /   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
       OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________ to _______________

Commission File Number 000-28459

                      Advanced Plant Pharmaceuticals, Inc.
--------------------------------------------------------------------------------
             (Exact name of Registrant as specified in its charter)

           Delaware                                     59-2762023
------------------------------------        ------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

                  43 West 33rd Street, New York, New York 10001
--------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code           212-635-3334
                                                      --------------------------

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days. YES X   NO ___.

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

            Class
--------------------------------                  ------------------------

Common shares, $.0007 par value                                148,203,710
                                                  ------------------------


<PAGE>

                                Table of Contents
                                -----------------
                                                                         Page
                                                                         ----



Consolidated  Balance Sheet  (unaudited) . . . . . . . . . . . . .        F-1

Consolidated Statements of Operations (unaudited) . . . . . . . .         F-2

Consolidated Statements of Cash Flows (unaudited) . . . . . . . .         F-3

Notes to the Financial  Statements . . . . . . . . . . . . . . . .     F-4 - F-9



<PAGE>


                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                                  BALANCE SHEET
                                  -------------
                              AS OF MARCH 31, 2001
                              --------------------
                                   (Unaudited)
                                   -----------




                                     ASSETS

Current assets:

   Cash and cash equivalents                                       $       --
                                                                   ------------
      Total current assets                                                 --

Other assets                                                              9,059
                                                                   ------------
                                                                   $      9,059
                                                                   ============


                      LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:

   Accounts Payable                                                $    182,157
   Accrued expenses payable                                           2,632,433
   Loans payable                                                        623,395
   Due to distributor                                                   103,500
                                                                   ------------
      Total current liabilities                                       3,541,485
                                                                   ------------


Shareholders' Equity:

   Common stock, $.0007 par value, 250,000,000
    shares authorized and 135,592,198 shares issued                      94,915
   Capital in excess of par value                                     6,508,623
   Accumulated deficit                                              (10,135,964)
                                                                   ------------
      Total shareholders' equity                                     (3,532,426)
                                                                   ------------

                                                                   $      9,059
                                                                   ============






                 See accompanying notes to financial statements.
                                       F-1

<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                            STATEMENTS OF OPERATIONS
                            ------------------------
               FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000
               --------------------------------------------------
                                   (Unaudited)
                                   -----------


                                                        2001            2000
                                                    -----------     -----------

Net Sales                                           $     6,110     $     2,478

Cost of goods sold                                        2,896          32,397
                                                    -----------     -----------
     Gross profit                                         3,214         (29,919)
                                                    -----------     -----------
Operating expenses:

   Research and development                                 750             750
   General and administrative                           175,596       1,008,244
                                                    -----------     -----------
     Total operating expenses                           176,346       1,008,994
                                                    -----------     -----------

       Operating loss                                  (173,132)     (1,038,913)

Other expense (income)                                      655            --
                                                    -----------     -----------
     Loss before provision for income taxes            (173,787)     (1,038,913)

Provision for income taxes                                 --              --
                                                    -----------     -----------
     Net loss                                       $  (173,787)    $(1,038,913)
                                                    ===========     ===========


Loss per common share                               $      --       $   (0.0100)
                                                    ===========     ===========






                 See accompanying notes to financial statements.
                                       F-2

<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                            STATEMENTS OF CASH FLOWS
                            ------------------------
               FOR THE THREE MONTHS ENDED MARCH 31, 2001 AND 2000
               --------------------------------------------------
                                   (Unaudited)
                                   -----------


                                                         2001           2000
                                                     -----------    -----------


Cash Flows from Operating Activities:

  Net Loss from operations                           $  (173,787)   $(1,038,913)

  Adjustments to reconcile net loss from
   operations to net cash used
   by operating activities:
     Depreciation and amortization expense                   242            201
     Increase in prepaid expenses                           --           (2,056)
     Increase in accounts payable                         11,769          1,796
     Increase in accrued expenses                        119,876        735,425
                                                     -----------    -----------
     Net cash used by operations                         (41,900)      (303,547)
                                                     -----------    -----------


Cash Flows from Investing Activities:

  Purchase of computer equipment                            --           (1,000)
                                                     -----------    -----------
     Net cash used by investing activities                  --           (1,000)
                                                     -----------    -----------


Cash Flows from Financing Activities:

  Proceeds from short-term loans payable                  41,900        392,000
  Payments on short-term loans payable                      --          (25,009)
                                                     -----------    -----------
     Net cash provided by financing activities            41,900        366,991
                                                     -----------    -----------

Net increase in Cash and cash equivalents                   --           62,444

Cash and cash equivalents at beginning of period            --           12,726

                                                     -----------    -----------
Cash and cash equivalents at end of period           $      --      $    75,170
                                                     ===========    ===========


Supplemental Cash Flow Information:

  Cash Paid During the Period for:

     Interest                                               --             --
                                                     ===========    ===========
     Income Taxes                                           --             --
                                                     ===========    ===========




                 See accompanying notes to financial statements.
                                       F-3

<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                                 MARCH 31, 2001
                                 --------------
                                   (UNAUDITED)
                                   -----------

NOTE 1   Basis of Presentation
         ---------------------

         The  accompanying  unaudited  financial  statements  of Advanced  Plant
         Pharmaceuticals,  Inc.  ("APPI" or the  "Company") as of March 31, 2001
         have been prepared in accordance  with  generally  accepted  accounting
         principles for interim  information.  Accordingly,  certain information
         and footnote  disclosures  required under generally accepted accounting
         principles  have been  condensed  or omitted  pursuant to the rules and
         regulations of the Securities and Exchange  Commission.  In the opinion
         of  management,  all  adjustments  of  a  recurring  nature  considered
         necessary  for a fair  presentation  of the  results  for  the  interim
         periods  presented have been included.  Operating results for the three
         months  ended  March 31,  2001 are not  necessarily  indicative  of the
         results that may be expected for the entire year or any other period.

         These  financial  statements  should  be read in  conjunction  with the
         audited financial statements for the year ended December 31, 2000.

NOTE 2   Nature of Operations
         --------------------

         APPI  focuses on the research and  development  of plant based  dietary
         supplements.  The Company owns the rights to a process,  which utilizes
         whole  plants to  manufacture  all  natural  dietary  supplements.  The
         Company  intends to use this process to  manufacture  products  that it
         hopes  to  distribute  worldwide  through  various  sales  distribution
         contracts.

         The Company expects, in the near term, to finance these efforts through
         the sale of its  common  stock  until  such  time,  if  ever,  that the
         operations achieve a positive cash flow. There is no guarantee that the
         Company will accomplish  this goal. See Note 8, "Financial  Results and
         Liquidity."

NOTE 3   GOING CONCERN
         -------------

         Management  believes that it can continue to obtain additional capital.
         However, if additional financing is not obtained,  the Company might be
         forced to cease operations.

         Since its inception,  the Company has had significant  operating losses
         and working capital  deficits.  The Company's  continued  existence has
         been  dependant on cash  proceeds  received from the sale of its common
         stock and the  willingness  of vendors to accept  stock in lieu of cash
         payments for their services.  Employees have also accepted deferrals of
         wage  payments.  The Company  hopes to reverse this trend by generating
         cash  inflows  through the sale of new  products.  To  accomplish  this
         objective,  the Company will require working capital to satisfy current
         operating  expenses and to produce  inventory until such time, if ever,
         that the revenue  cycle begins  generating  cash.  The  Company's  past
         attempts  to  establish  a market  for their  products  has so far been
         unsuccessful and resulted in minimal sales.  There is no assurance that
         future efforts will result in a more favorable outcome.

                                       F-4

<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                                 MARCH 31, 2001
                                 --------------
                                   (UNAUDITED)
                                   -----------

NOTE 4   Summary of Significant Accounting Policies
         ------------------------------------------

         Cash Equivalents
         ----------------

         For purposes of the statement of cash flows, the Company  considers all
         highly  liquid  debt  instruments  purchased  with a maturity  of three
         months or less to be cash equivalents.

         Other Assets
         ------------

         Other assets consist of patents  ($4,290),  security  deposits ($4,144)
         and computer equipment ($625).

         Patents are  amortized on a  straight-line  method over their  economic
         lives  and  are  reviewed  for   impairment   whenever  the  facts  and
         circumstances indicate that the carrying amount may not be recoverable.

         Computer  equipment is depreciated on a  straight-line  method using an
         estimated useful life of three years.

         Research & Development Costs
         ----------------------------

         Research and development costs are expensed as incurred.

         Income Taxes
         ------------

         APPI has incurred  significant losses from operations.  The Company has
         elected  not to record  any tax  benefits  relating  to  potential  net
         operating loss  carryforwards due to the uncertainty of realizing those
         benefits.

         The Company intends to follow Statement of Financial Accounting
         Standards No. 109 (SFAS 109), "Accounting for Income Taxes" when either
         operations achieve profitability or the realization of net operating
         loss benefits can more readily be measured, whichever comes first.

         Earnings per Share
         ------------------

         Statement of Financial Accounting Standards ("SFAS") No. 128, "Earnings
         Per Share"  discusses the computation and  presentation of earnings per
         share  ("EPS").  Basic EPS,  as defined by SFAS No. 128, is computed by
         dividing   income    available   to   common    shareholders   by   the
         weighted-average  number of common shares outstanding for the reporting
         period,  ignoring  any  potential  effects  of  dilution.  Diluted  EPS
         reflects the  potential  dilution  that would occur if  securities,  or
         other contracts to issue common stock, were exercised or converted into
         common stock that then shared in the earnings of the entity.




                                       F-5

<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                                 MARCH 31, 2001
                                 --------------
                                   (UNAUDITED)
                                   -----------

NOTE 4   Summary of Significant Accounting Policies
         ------------------------------------------
(Continued)

         There were 17,500,000 common stock options  outstanding as of March 31,
         2001. As a result of the losses reported in the periods presented these
         options, if exercised, would be antidilutive.  Accordingly,  only Basic
         EPS is presented in these financial  statements.  The  weighted-average
         number  of  shares  used  in the  computation  of per  share  data  was
         135,592,198  and  108,499,506 for the three months ended March 31, 2001
         and 2000, respectively.

         Stock-Based Compensation
         ------------------------

         APPI has satisfied various loans, trade payables,  employee  back-wages
         and other  liabilities  through  the  issue of its  common  stock.  The
         Company accounts for such stock-based compensation using the fair-value
         method  as  prescribed  by SFAS No.  123,  "Accounting  for-Stock-Based
         Compensation."  The  Company  has  also  issued  stock  options  to key
         employees.  As permissible under SFAS No. 123, the Company accounts for
         stock  options using the  intrinsic  value method as  prescribed  under
         Accounting Principles Board Opinion No. 25.

         Use of Estimates
         ----------------

         The  preparation of financial  statements in conformity  with generally
         accepted  accounting  principles  requires management to make estimates
         and  assumptions.  These estimates and assumptions  affect the reported
         amounts  of  assets  and  liabilities,  the  disclosure  of  contingent
         liabilities and the reported  amounts of revenues and expenses.  Actual
         results could differ from these estimates.

NOTE 5   Capital Stock
         -------------

         The  Company is  authorized  to issue 250  million  shares of it common
         stock,  par value  $.0007 per share.  The  holders of common  stock are
         entitled  to one vote for each share held on all matters to be voted on
         by stockholders.

         The Company is also  authorized to issue 5 million  shares of preferred
         stock,  par value  $.0007 per share.  There is  currently  no preferred
         stock  outstanding  and the  company  has no  current  plans  to  issue
         preferred stock.

NOTE 6   Loans Payable
         -------------

         Loans Payable consists of unsecured,  non-interest  bearing  short-term
         loans typically of less than three months duration. The loan agreements
         provide the Company  with the option of repaying  the loans with either
         cash or restricted shares of the Company's common stock.

                                       F-6

<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                                 MARCH 31, 2001
                                 --------------
                                   (UNAUDITED)
                                   -----------

NOTE 7   Related-Parties Transactions
         ----------------------------

         On March  15,  2000 the  company  entered  into a  two-year  employment
         agreement  with Dr. Leonard  Bielory  whereby Dr. Bielory will serve as
         the  Company's  Scientific  Director  and its  Chairman of the Board of
         Directors. Under the terms of the agreement, the Company is required to
         pay Dr. Bielory wages of $500 per month for the first twelve months and
         up to $2,500 per month thereafter,  contingent on the Company achieving
         specified net profit levels.  Upon commencement of this agreement,  and
         each January 1 thereafter,  the Company is to issue Dr. Bielory options
         to purchase  750,000 shares of the Company's common stock as additional
         compensation  under this  agreement.  The Company  intends to issue the
         initial options to Dr. Bielory during the second quarter of 2000. These
         options  are  expected to expire on March 15, 2005 and have an exercise
         price equal to the fair market  value of the  Company's  stock on March
         15, 2000.  The agreement also required the Company to issue Dr. Bielory
         225,000  restricted  shares of the Company's  common stock as a signing
         bonus.  The fair market value of the Company's  stock on March 15, 2000
         (the date of this  agreement) was $.43 per share.  The Company  accrued
         the  shares'  aggregate  fair  market  value of $96,750  as  additional
         compensation expense during the first quarter of 2000.

         On January 22, 2001,  the Company  entered into a consulting  agreement
         with  Summa  Capital,  Inc.,  which is  owned  by the son of a  current
         employee  and  shareholder  of the  Company.  In  accordance  with  the
         agreement,  Summa Capital will provide consulting  services in the area
         of investor relations, public relations, marketing and capital markets.
         The  agreement is renewable  every three months but may be cancelled by
         either party on a monthly basis.  Compensation payable to Summa Capital
         under this  agreement  includes  $3,000 per month  payable in  advance,
         300,000 shares of Company stock at the end of each  three-month  period
         and a percentage of the net proceeds of any money raised by the Company
         from  sources  introduced  by  Summa  Capital.   Additionally,  at  the
         beginning  of every  three-month  renewal  period  Summa  Capital is to
         receive  two-year  warrants  convertible  into  300,000  shares  of the
         Company's common stock and five-year warrants to purchase an additional
         300,000  shares of the  Company's  stock.  General  and  administrative
         expenses for the three months ended March 31, 2001, includes $17,303 of
         accrued expenses relating to this agreement.

         On February 28, 2001,  the Company  entered into a loan  agreement with
         Sam  Berkowitz,  an  employee  and  shareholder  of  the  Company.  The
         agreement  is for a maximum  loan amount of $100,000 and is due on June
         30, 2001.  As of May 15, 2001 the company has borrowed  $56,400 on this
         loan.  The loan is interest  free and includes the option to be paid in
         Company  stock.  If the  loan is  paid  in  Company  stock,  the  stock
         conversion price is $.0165 per share.




                                       F-7

<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                                 MARCH 31, 2001
                                 --------------
                                   (UNAUDITED)
                                   -----------

NOTE 8   Financial Results and Liquidity
         -------------------------------

         As of March 31,  2001,  the  Company  had no cash  balances.  Since its
         inception, the Company has had significant operating losses and working
         capital deficits.  The Company's continued existence has been dependant
         on cash  proceeds  received  from the sale of its common  stock and the
         willingness  of vendors to accept  stock in lieu of cash  payments  for
         their  services.   Employees  have  also  accepted  deferrals  of  wage
         payments.  The Company hopes to reverse this trend by  generating  cash
         inflows through the sale of new products. To accomplish this objective,
         the Company will require working  capital to satisfy current  operating
         expenses, and to produce inventory, during the interim period preceding
         such time, if ever, that the revenue cycle begins generating cash.

         To market and generate  sales of its products,  the Company has entered
         into various  distribution  agreements  over the years.  As of March 31
         2001, none of the  distribution  agreements has resulted in significant
         sales for the Company. The impact of any current or future distribution
         agreements  on the  Company's  cash  flow  is  uncertain.  There  is no
         guarantee that cash generated from new product sales will occur,  or be
         sufficient to fund operating costs which can be expected to increase as
         the Company "ramps up" for manufacturing  and distribution  activities.
         There also is no assurance that the Company will continue to be able to
         finance  operations  through the sale of its common stock, the exchange
         of stock for  services  or from the  proceeds of  unsecured  loans with
         private lenders.

NOTE 9   Financial Advisor and Investment Banking Agreement
         --------------------------------------------------

         On February 17, 2000 the Company  entered into an agreement  with First
         Madison  Securities,  Inc. ("FMS") whereby FMS was to act as consultant
         and  non-exclusive  financial  advisor  and  investment  banker  to the
         Company in connection with strategic planning, securities transactions,
         valuations,  mergers & acquisitions,  alternative  financing structures
         and capital  formation.  FMS would also act as placement  agent for the
         Company.

         As compensation  for these  services,  the Company is required to issue
         FMS  6,000,000  restricted  shares  of its  common  stock  as  follows;
         1,700,000  shares upon  execution of the  agreement,  1,700,000  shares
         within  three  months of signing the  agreement  and  2,600,000  shares
         within six months of signing the agreement.  The restricted shares were
         to be registered with the Securities and Exchange  Commission to become
         free  trading   shares  as  soon  as  possible  with  FMS  bearing  all
         registration  costs.  General  and  Administrative   expenses  for  the
         three-months  ended  March 31,  2000  includes  consulting  expense  of
         $663,000,  which was the  aggregate  fair  market  value of the initial
         1,700,000  shares  due  to  FMS  on  February  17,  2000.  The  Company
         distributed the initial 1,700,000 shares during May 2000.




                                       F-8

<PAGE>

                      ADVANCED PLANT PHARMACEUTICALS, INC.
                      ------------------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                                 MARCH 31, 2001
                                 --------------
                                   (UNAUDITED)
                                   -----------

         The  Company  is  also  required  to pay  FMS a  placement  fee for any
         transactions  consummated,  directly or indirectly,  through FMS during
         the term of the agreement or within two years thereafter. The placement
         fee will consist of a payment equal to 10% of the gross proceeds raised
         from   the   sale   of   applicable   securities,    reimbursement   of
         non-accountable  expenses  equal to 3% of the gross  proceeds  from the
         sale of any  applicable  securities  plus  warrants to purchase  common
         stock equal to 10% of the  applicable  shares sold.  Additionally,  the
         Company will  reimburse FMS for all reasonable  out-of-pocket  expenses
         incurred  in the  performance  of this  agreement,  up to a maximum  of
         $25,000.

         Service under this agreement shall continue until  terminated by either
         party by giving  thirty days written  notice.  Through  March 31, 2001,
         this contract has not been exercised or terminated.

NOTE 10  Sales Management Agreement
         --------------------------

         On March 16, 2001,  the Company  entered into an agreement  whereby the
         Company appointed  National Brokers Associates (NBA) as their exclusive
         sales  management  organization.  The agreement is for a one-year term.
         Compensation  under the agreement  involves  percentage of sales volume
         and includes  minimum  payments of $5,000 per month of which 80% can be
         paid with Company stock at a discounted  conversion rate. The agreement
         calls for the issuance of additional  shares of the Company's  stock if
         certain sales levels are achieved.

NOTE 11  Subsequent Events
         -----------------

         In  addition  to the  shares  that may  potentially  be issued  for the
         agreements previously  discussed,  the Company is currently considering
         issuing  approximately  9,385,000  shares  of  common  stock to pay off
         various  payables  existing  at  March  31,  2001 and  incurred  in the
         subsequent 2001 period.  The fair market value of these shares at March
         31, 2001 is approximately $440,000.

         None of the shares relating to these subsequent events has been used to
         calculate earnings per share data since they would be antidilutive.









                                       F-9

<PAGE>

ITEM 1 - Legal Proceedings

         None

ITEM 2 - Changes in Securities

         None

ITEM 3 - Defaults upon Senior Securities

         None

ITEM 4 - Submission of Matters to a Vote of Security Holders

         None

ITEM 5 - Other Information

         None

ITEM 6 --EXHIBITS AND REPORTS OF FORM 8-K

         None


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


Advanced Plant Pharmaceuticals, Inc.


/s/ David Lieberman
-------------------
David Lieberman,
President

May 30, 2001