SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                   FORM 10QSB


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


                    For Quarter Ended           Commission File Number
                             March 31, 2001     0114873


                   ROCKY MOUNTAIN FINANCIAL ENTERPRISES, INC.
                   ------------------------------------------
             (Exact name of registrant as specified in its charter)


               Colorado                               84-1251078
               --------                               ----------
        (State of incorporation)                   (I.R.S. Employer
                                                   Identification No.)

           402 NORTH CARROLL AVENUE, SUITE 110, SOUTHLAKE, TEXAS 76092
          ------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

          Registrant's telephone number, including area code: 817-410-3780


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 the filing
requirements for at least the past 90 days.

                                    Yes  X       No ___
                                        ---
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

                         19,871,328 common shares as of March 31, 2001






<PAGE>









 Part I:                    FINANCIAL INFORMATION

                   ROCKY MOUNTAIN FINANCIAL ENTERPRISES, INC.
                                   (Unaudited)


<PAGE>
<TABLE>
<CAPTION>

                           BALANCE  SHEETS  (Stated in US  Dollars)
                                    (Unaudited--See Note 1)



                                            ASSETS
                                            ------
<S>                                                                          <C>                       <C>

                                                                                  Mar. 31,              Dec.31,
                                                                                   2001                  2000
                                                                             -----------------         --------------------
Property, plant and equipment:                                                              -
      Office and computer equipment                                                   774,064                      774,064
          Less accumulated depreciation                                              (212,505)                    (172,505)
                                                                             -----------------         --------------------
                                                                                      561,559                      601,559
                                                                             -----------------         --------------------
Other assets:
      Deposits                                                                         80,000                       -
      Certificates of deposit - restricted                                                  -                     167,078

                                                                             -----------------         --------------------
          Total other assets                                                                -                     167,078
                                                                             -----------------         --------------------
          Total Assets                                                              $ 641,559                   $ 768,637
                                                                             =================         ====================

                                       LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current liabilities:
      Accounts payable                                                            $ 4,252,303                  $ 4,157,834
      Accrued liabilities                                                           1,242,196                    1,082,608
      Notes payable                                                                 1,892,900                    1,813,919
      Secured Convertible Debt                                                      3,664,002                    3,584,002

                                                                             -----------------         --------------------
          Total current liabilities                                                11,051,401                   10,638,363
                                                                             -----------------         --------------------


Stockholders' equity (deficit):
      Common stock - no par; authorized 20,000,000 shares;
          19,871,328, and 16,751,621 issued and outstanding, respectively          22,781,369                  22,781,369
      Additional paid-in capital                                                            -                        -
      Accumulated deficit                                                         (33,191,211)                (32,651,095)
                                                                             -----------------         --------------------
          Total stockholders' equity (deficit)                                    (10,409,842)                 (9,869,726)
                                                                             -----------------         --------------------
          Total liabilities and stockholders' equity (deficit)                      $ 641,559                   $ 768,637
                                                                             =================         ====================




</TABLE>


                                    SEE ACCOMPANYING NOTES

                                              F-1






<PAGE>
<TABLE>
<CAPTION>






                   ROCKY MOUNTAIN FINANCIAL ENTERPRISES, INC.
                          (A Development Stage Company)

                             STATEMENT OF OPERATIONS
                for the three months ended March 31, 2001 & 2000
                             (Stated in US Dollars)
                            (Unaudited - See Note 1)



                                                                 Three months ended
                                                                         Mar. 31
<S>                                                         <C>                    <C>

                                                              2001                   2000
                                                              ----                   ----

Revenue                                                               $  15,115                 $ 383,538
                                                            --------------------   -----------------------

Operating expenses:
      Sales and marketing                                                  -                      765,193
      Research and development                                             -                      443,448
      Site services                                                        -                      190,049
      General and administrative                                        515,231                 1,747,918
      Depreciation and amortization                                      40,000                      -
                                                            --------------------   -----------------------
          Total expenses                                                555,231                 3,146,608
                                                            --------------------   -----------------------
          Loss from operations                                         (540,116)               (2,763,070)

Other income (expense):
      Other income                                                        -                         1,909

      Interest expense                                                    -                         3,372
                                                            --------------------   -----------------------
          Net loss                                                   $ (540,116)             $ (2,764,533)
                                                            ====================   =======================

Basic net loss per share                                                $ (0.03)                  $ (0.15)
                                                            ====================   =======================

Weighted average common shares outstanding                           19,871,328                18,215,729
                                                            ====================   =======================



</TABLE>


                                    SEE ACCOMPANYING NOTES

                                              F-2


<PAGE>
<TABLE>
<CAPTION>




                                 ROCKY MOUNTAIN FINANCIAL ENTERPRISES, INC.
                                         STATEMENT OF CASH FLOWS
                           for the three months ended March 31, 2001 and 2000
                                         (Stated in US Dollars)
                                        (Unaudited - See Note 1)

<S>                                                          <C>                     <C>


                                                                      Three months ended
                                                                      ------------------

                                                                 March 31, 2001           March 31, 2000

Cash flow to operating activities:
Net loss                                                              $(540,116)             $(2,764,533)

Adjustments to reconcile net loss to net
cash used in operations
Adjustments to reconcile net loss to
     net cash used in operating activities:
           Depreciation                                                  40,000                  10,836
           Changes in operating assets and liabilities:
                Accounts receivable                                          -                 (122,658)
                Accounts payable and accrued liabilities                254,057              (1,866,849)
                                                             ---------------------   --------------------
                Net cash used in operating activities                  (246,059)             (4,743,204)
                                                             ---------------------   ---------------------

Cash flows from investing activities:

    Redemption (purchase) of certificates of deposit                     167,078                      -
    Purchase of property and equipment                                        -                (398,116)
    Acquisition of software and other assets                            (80,000)                (17,490)
                                                            ---------------------   ---------------------
                Net cash provided by (used in)
                     investing activities                                87,078                (415,606)
                                                            ---------------------   ---------------------

Cash flows from financing activities:

    Net change in notes payable                                          78,981                (960,398)
    Net change in convertible debt                                       80,000                       -
    Proceeds from issuance of warrants and stock                             -                6,797,570
                                                            ---------------------   ---------------------
                Net cash provided by financing activities               158,981               5,837,172
                                                            ---------------------   ---------------------

Net increase in cash and cash equivalents                                    -                 678,362

Cash and cash equivalents, beginning of period                               -                  84,824
                                                            ---------------------   ---------------------

Cash and cash equivalents, end of period                                   $ -                $763,186
                                                            =====================   =====================


Interest paid                                                          $ 1,200                   $  -
                                                            =====================   =====================
</TABLE>


                             SEE ACCOMPANYING NOTES

                                       F-3







<PAGE>






                   ROCKY MOUNTAIN FINANCIAL ENTERPRISES, INC.
                          (A Development Stage Company)
                          Notes To Financial Statements
                                 March 31, 2001
                                    Unaudited

Note A- Summary of Significant Accounting Policies:

A Summary of the significant accounting policies consistently applied in the
preparation of the accompanying financial statements follows:

Development Stage Company.

Rocky Mountain  Financial  Enterprises,  Inc. (the  "Company") was  incorporated
December  2,  1993  under  the laws of the  State of  Colorado  and had  limited
operating  activity  until  October 2000 when it entered into a  transaction  to
merge  with  Comercis,  Inc.  Comercis,  Inc.  was  formed in  January  2000 and
succeeded to the business of Business Web Inc. d/b/a Comercis,  Inc.,  which was
incorporated  on October 1, 1998.  Inasmuch as the business  activities of Rocky
Mountain  Financial  Enterprises,  Inc.  were  immaterial  relative  to the past
business  activities of Comercis,  Inc. and its  subsidiaries,  these  financial
statements present the historical  financial position of Comercis,  Inc. and its
subsidiaries and the results of their operations and their cash flows.

The  Company was founded to create  software to provide the  concept,  creation,
execution,  promotion  and  management of web-sites  for small  businesses.  The
Company is  deploying  business-to-business  internet  applications  to internet
service providers,  application  service  providers,  competitive local exchange
carriers,  independent yellow page directory  publishers,  business associations
and  tradeshow   organizations  around  the  world.  The  Company  operates  two
subsidiaries,  Netcities.com, which is 100% owned, and eTradeshow.com,  which is
87% owned.

Basis of Accounting

The accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting  principles for interim financial information
and with the  instructions to Form 10-QSB of Regulation S-B. They do not include
all  information  and  footnotes  required  by  generally  accepted   accounting
principles  for  complete  financial  statements.  However,  except as disclosed

                                      F-4

<PAGE>


herein,  there has been no material change in the  information  disclosed in the
notes to the financial  statements for the year ended December 31, 2000 included
in the  Company's  Annual  Report on Form 10-KSB filed with the  Securities  and
Exchange  Commission.  The interim unaudited financial statements should be read
in conjunction with those financial  statements  included in the Form 10-KSB. In
the opinion of  Management,  all  adjustments  considered  necessary  for a fair
presentation, consisting solely of normal recurring adjustments, have been made.
Operating  results for the six months  ended March 31, 2001 are not  necessarily
indicative of the results that may be expected for the year ending  December 31,
2001.

The Company's financial statements have been presented on the basis that it is a
going concern, which contemplates the realization of assets and the satisfaction
of  liabilities in the normal course of business.  The Company's  continuing net
losses and working capital deficit raise  substantial doubt about its ability to
continue  as a going  concern.  The  financial  statements  do not  include  any
adjustments that might result from the outcome of this uncertainty.  The Company
is reporting cumulative net losses since inception of $32,651,095 as of December
31, 2000. The following is a summary of  management's  plan to raise capital and
generate additional operating funds.

The Company is seeking  investors  for funding to be used for the acquisition of
other  businesses.  As of May 2001, no  commitments  for funding were  executed.
There can be no assurance  that funds will  ultimately be made  available to the
Company from either of these sources.

                                       F-5



<PAGE>

ITEM 2. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
        ------------------------------------------------------------------------
OPERATIONS
----------

     The Company had minimal operations during the quarter and generated $15,115
in revenue in the period in 2001  compared  to  $383,538  in the same  period in
2000.  The  decline in revenue  was as a direct  result of the loss of  business
revenue in 2001.  The Company  incurred  %555,231 in  operating  expenses in the
period in 2001 and had  operating  expenses of  $3,146,608 in the same period in
2000.  The  significantly  reduced  operation  expenses in 2001 compared to 2000
resulted from greatly reduced operations, and the fact that software development
had ceased in 2001.  The Company had a net loss on  operations in the quarter of
($540,116) in 2001 and  ($2,764,533)  in 2000. The loss per share in the quarter
was ($.03) in 2001 and ($.15) in 2000.

     The Company expects the trend of losses to continue,  at a slightly lessend
rate, until the Company can build,  acquire or acheive a profitable  business of
which there is no assurance.


LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

The Company had no cash  capital at the end of the period.  The Company  will be
forced to either  borrow or make  private  placements  of stock in order to fund
operations.  No  assurance  exists as to the  ability to  achieve  loans or make
private placements of stock.

The  Company  had  current  liabilities  in excess  of  assets in the  amount of
($10,409,844)  at quarter end. The assets were  illiquid and might not yield the
basis carried on the books if the Company assets were  liquidated  without being
in business.


<PAGE>

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

ITEM 1. LEGAL PROCEEDINGS
        -----------------
 The Company is a party to the following legal proceedings at period end:

SCBP-A V. COMERCIS, INC.:

     This suit is by the landlord  from  Comercis'  former  headquarters  at 500
Nolen Drive in Southlake,  Texas. The Company abandoned the building on December
5, 2000.  Landlord has filed a motion for summary judgment for $800,000 of lease
termination  liability in this legal  action.  The  Company's  maximum  exposure
should be $800,000 if the summary judgment is granted by the courts.

QUALITY QUEST v. BUSINESS WEB, INC.

     This is a collection suit filed by a recruiting firm previously used by the
company, claiming unpaid compensation of at least $138,000. $120,000 of this was
paid in Comercis stock in accordance with Comercis' management's  interpretation
of the contract  with them.  Quality Quest is suing to force the Company to take
the stock back and give them cash. The total exposure is estimated by management
to be approximately $138,000, plus punitive damages such are awarded.

COMFORCE INFORMATION TECH v. COMERCIS, INC.

     This collection  suit is brought by another  recruiting firm seeking unpaid
commissions of $22,000, plus attorney fees of $5,000. They have already received
a judgement.

RCG INFORMATION TECHNOLOGY v. BUSINESS WEB, INC.

     RCG is suing for  payment of a past due note and breach of  contract in the
amount of  $190,219.86  arising out of unpaid  amounts  charged to Comercis  for
software and services.

COMPUTER STAFF v. COMERCIS, INC.

     Plaintiff  has  received  a  judgement  in the  amount of  $44,000  in this
collection suit.

<PAGE>


GLYNN & FINLEY v. COMERCIS, INC.

     Plaintiff is suing for $7,914 in unpaid legal fees.

SUNRISE INTERNATIONAL LEASING v. COMERCIS, INC.

     Plaintiff is suing for unpaid  equipment  lease  payments and possession of
equipment totaling $428,834.

ACCOUNTING SOLUTIONS v. COMERCIS, INC.

     Plaintiff  seeks  $15,000  for  unpaid  amounts  on  services  rendered  to
Comercis.


ITEM 2. CHANGES IN SECURITIES
        ---------------------

               None.

ITEM 3. DEFAULT UPON SENIOR SECURITIES
        ------------------------------

     The  Company is in default on  $3,664,002  in secured  convertible  debt at
quarter  end.  The  Company  is  seeking  t convert  the debt to  equity  and is
negotiating with the creditors.


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

               None

ITEM 5. OTHER INFORMATION
        -----------------

               None

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

          No reports on Form 8-K were made for the period for which this  report
is filed.





<PAGE>







                                   SIGNATURES

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.

Date: June 8, 2001



                             ROCKY MOUNTAIN FINANCIAL ENTERPRISES, INC.


                             /s/Chris Meaux
                             ------------------------------------------
                             Chris Meaux, President and Chief Executive Officer