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**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-QSB**

|   | **T** | **Quarterly                Report Pursuant to Section 13 or 15 (d) of the Securities Exchange                Act of                1934for the period ended March 31,                2004** |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | **£** | **Transition                report under Section 13 or 15(d) of the Exchange Act for the transition                period                from          to** |
|--------|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Commission      file number:   000-30805**

**DUTCH      GOLD RESOURCES, INC.**

| **Nevada**                              | **84-1125214**                                      |
|-----------------------------------------|-----------------------------------------------------|
| (State                of Incorporation) | (I.R.S.                Employer Identification No.) |

**3500      Lenox Road, NE**

**(404)      419-2440**

| Class                                                   |   | Outstanding                at March 31, 2004 |
|---------------------------------------------------------|--------|----------------------------------------------|
|                                                    |   |                                         |
| Common                Stock, par value $0.001 per share |   | 13,109,000                                   |

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TABLE      OF CONTENTS

| PART                — | FINANCIAL                INFORMATION                                              |   |
|-----------------------------|-----------------------------------------------------------------------------------|--------|
| ITEM                1.      | FINANCIAL                STATEMENTS                                               |   |
|                        | CONSOLIDATED                BALANCE SHEET                                         |   |
|                        | CONSOLIDATED                STATEMENTS OF OPERATION                               |   |
|                        | CONSOLIDATED                STATEMENTS OF CASH FLOWS                              |   |
|                        | NOTES                TO CONSOLIDATED FINANCIAL                STATEMENTS          |   |
| ITEM                2.      | MANAGEMENT’S                DISCUSSION AND ANALYSIS OF RESULTS OF           |   |
|                        | OPERATIONS                AND FINANCIAL CONDITION                                 |   |
|                        | FORWARD                LOOKING STATEMENTS                                         |   |
|                        | OVERVIEW                AND RESULTS OF OPERATIONS                                 |   |
|                        | TWELVE                MONTH BUSINESS OUTLOOK                                      |   |
|                        | OPERATING                EXPENSES AND CAPITAL EXPENDITURES                        |   |
|                        | SOURCE                OF REVENUE                                                  |   |
|                        | DISPOSITION                OF ASSETS                                              |   |
|                        | OPERATING                LOSSES                                                   |   |
|                        | LIQUIDITY                AND CAPITAL RESOURCES                                    |   |
| ITEM                3.      | CONTROLS                AND PROCEDURES                                            |   |
| PART                II      | —OTHER                INFORMATION                                           |   |
| ITEM                1.      | LEGAL                PROCEEDINGS                                                  |   |
| ITEM                2.      | CHANGES                IN SECURITIES AND USE OF                PROCEEDS           |   |
| ITEM                3.      | DEFAULTS                UPON SENIOR SECURITIES                                    |   |
| ITEM                4.      | SUBMISSION                OF MATTERS TO A VOTE OF SECURITY                HOLDERS |   |
| ITEM                5.      | OTHER                INFORMATION                                                  |   |
| ITEM                6.      | EXHIBITS                AND REPORTS ON FORM 8-K                                   |   |
|                        | SIGNATURES                                                                        |   |

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***Table            of Contents***

**DUTCH      GOLD RESOURCES, INC.**

**(Formerly      Small Town Radio, Inc.)**

**CONSOLIDATED      BALANCE SHEET**

**AS      OF MARCH 31, 2004**

|                                                                                                                                 |   | March 31,                2004 |       |
|--------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|------------|
| **Assets**                                                                                                                           |   |                               |       |
| Current                Assets                                                                                                        |   |                               |       |
| Cash                                                                                                                                 |   | $                                  | 535        |   |
|                                                                                                                                 |   |                               |       |   |
| Total                current assets                                                                                                  |   |                               | 535        |   |
|                                                                                                                                 |   |                               |       |   |
| Note                receivable                                                                                                       |   |                               | 100,000    |   |
| Professional                reserve                                                                                                  |   |                               | 55,000     |   |
|                                                                                                                                 |   |                               |       |   |
| TOTAL                ASSETS                                                                                                          |   | $                                  | 155,535    |   |
|                                                                                                                                 |   |                               |       |   |
| **Liabilities                and Stockholders' Deficit**                                                                             |   |                               |       |   |
| Current                Liabilities                                                                                                   |   |                               |       |   |
| Notes                payable-stockholders                                                                                            |   | $                                  | 486,300    |   |
| Accounts                payable                                                                                                      |   |                               | 609,119    |   |
| Accounts                payable-related party                                                                                        |   |                               | 393,750    |   |
| Accrued                interest                                                                                                      |   |                               | 108,798    |   |
| Accrued                settlement costs                                                                                              |   |                               | 260,000    |   |
| Loans                from shareholders                                                                                               |   |                               | -          |   |
|                                                                                                                                 |   |                               |       |   |
| Total                current liabilities                                                                                             |   |                               | 1,857,967  |   |
|                                                                                                                                 |   |                               |       |   |
| Stockholders’                Deficit                                                                                           |   |                               |       |   |
| Preferred                stock, $.001 par value 100,000,000 authorized, no share issued and                outstanding               |   |                               | -          |   |
| Common                stock, $.001 par value 100,000,000 authorized, 11,059,000 issued                and                outstanding |   |                               | 13,109     |   |
| Additional                paid-in-capital                                                                                            |   |                               | 1,819,814  |   |
| Accumulated                deficit                                                                                                   |   |                               | (3,535,355 | ) |
|                                                                                                                                 |   |                               |       |   |
| Total                stockholders’ deficit                                                                                     |   |                               | (1,702,432 | ) |
|                                                                                                                                 |   |                               |       |   |
| TOTAL                LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                           |   | $                                  | 155,535    |   |

*See      notes to consolidated financial statements*

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***Table            of Contents***

**DUTCH      GOLD RESOURCES, INC.**

**(Formerly      Small Town Radio, Inc.)**

**CONSOLIDATED      STATEMENT OF OPERATIONS**

**FOR      THE THREE MONTHS ENDED MARCH 31, 2004 AND 2003**

|                                                      |   | Three                Months Ended March 31, 2004 |       |   | Three                Months Ended March 31, 2003 |   |
|-----------------------------------------------------------|--------|-------------------------------------------------------|------------|--------|-------------------------------------------------------|--------|
|                                                      |   |                                                  |       |   |                                                  |   |
| Net                Sales                                  |   | $                                                     | -          |   |                                                  | $      | - |   |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Operational                Expenses                       |   |                                                  | 58,845     |   |                                                  |   | 165,900 |   |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Operating                loss                             |   |                                                  | (58,845    | )      |                                                  |   | (165,900 | ) |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Other                income (expense)                     |   |                                                  |       |   |                                                  |   |   |   |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Interest                                                  |   |                                                  | (4,922     | )      |                                                  |   | (7,985 | ) |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Income                before income taxes                 |   |                                                  | (63,767    | )      |                                                  |   | (173,885 | ) |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Income                tax provision                       |   |                                                  | -          |   |                                                  |   | - |   |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Net                income (loss)                          |   |                                                  | (63,767    | )      |                                                  |   | (173,885 | ) |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Basic                and fully diluted earnings per share |   | $                                                     | (0.00      | )      |                                                  | $      | (0.02 | ) |
|                                                      |   |                                                  |       |   |                                                  |   |   |   |
| Weighted                Average Shares Outstanding        |   |                                                  | 13,109,000 |   |                                                  |   | 10,443,015 |   |

*See      notes to consolidated financial statements*

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***Table            of Contents***

**DUTCH      GOLD RESOURCES, INC.**

**(Formerly      Small Town Radio, Inc.)**

**CONSOLIDATED      STATEMENT OF OPERATIONS**

**FOR      THE NINE MONTHS ENDED MARCH 31, 2004 AND 2003**

|                                                          |   | Nine                Months Ended March 31, 2004 |       |   | Nine                Months Ended March 31, 2003 |   |
|---------------------------------------------------------------|--------|------------------------------------------------------|------------|--------|------------------------------------------------------|--------|
|                                                          |   |                                                 |       |   |                                                 |   |
| Net                Sales                                      |   | $                                                    | -          |   |                                                 | $      | - |   |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Operational                Expenses                           |   |                                                 | 211,117    |   |                                                 |   | 840,332 |   |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Operating                other – gain on sale of assets |   |                                                 | 393,279    |   |                                                 |   | - |   |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Operating  Income                (loss)             |   |                                                 | 182,162    |   |                                                 |   | (840,332 | ) |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Other                income (expense)                         |   |                                                 |       |   |                                                 |   |   |   |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Interest                                                      |   |                                                 | (17,022    | )      |                                                 |   | (43,709 | ) |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Income                before income taxes                     |   |                                                 | 165,140    |   |                                                 |   | (884,041 | ) |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Income                tax provision                           |   |                                                 | -          |   |                                                 |   | - |   |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Net                income (loss)                              |   |                                                 | 165,140    |   |                                                 |   | (884,041 | ) |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Basic                earnings per share                       |   | $                                                    | 0.01       |   |                                                 | $      | (0.09 | ) |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Weighted                Average Shares Outstanding            |   |                                                 | 13,109,000 |   |                                                 |   | 10,271,119 |   |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Fully                diluted earnings per share               |   | $                                                    | 0.01       |   |                                                 | $      | (0.09 | ) |
|                                                          |   |                                                 |       |   |                                                 |   |   |   |
| Weighted                Average Shares Outstanding            |   |                                                 | 13,136,777 |   |                                                 |   | 10,271,119 |   |

*See      notes to consolidated financial statements*

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***Table            of Contents***

**DUTCH      GOLD RESOURCES, INC.**

**(Formerly      Small Town Radio, Inc.)**

**CONSOLIDATED      STATEMENT OF CASH FLOWS**

**FOR      THE NINE MONTHS ENDED MARCH 31, 2004 AND 2003**

|                                                                                  |   | Nine                Months Ended March 31, 2004 |     |   | Nine                Months Ended March 31, 2003 |   |
|---------------------------------------------------------------------------------------|--------|------------------------------------------------------|----------|--------|------------------------------------------------------|--------|
|                                                                                  |   |                                                 |     |   |                                                 |   |
| Operating                Activities                                                   |   |                                                 |     |   |                                                 |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |
| Net                income (loss)                                                      |   | $                                                    | 165,140  |   |                                                 | $      | (849,101 | ) |
| Adjustments                to reconcile net loss to cash used by operating activities |   |                                                 |     |   |                                                 |   |   |   |
| Depreciation                                                                          |   |                                                 | -        |   |                                                 |   | 13,964 |   |
| Stock                subscriptions receivable                                         |   |                                                 | -        |   |                                                 |   | 152,250 |   |
| Gain                on sale of assets                                                 |   |                                                 | (393,279 | )      |                                                 |   |   |   |
| Professional                reserves                                                  |   |                                                 | (55,000  | )      |                                                 |   |   |   |
| Stock                issued for services                                              |   |                                                 | -        |   |                                                 |   | 290,104 |   |
| Changes                in assets and liabilities                                      |   |                                                 |     |   |                                                 |   |   |   |
| Accounts                receivable                                                    |   |                                                 | -        |   |                                                 |   | 1,807 |   |
| Accounts                payable                                                       |   |                                                 | (8,298   | )      |                                                 |   | 103,960 |   |
| Accounts                payable-related party                                         |   |                                                 | 168,750  |   |                                                 |   | 168,750 |   |
| Accrued                interest                                                       |   |                                                 | 17,022   |   |                                                 |   | 39,708 |   |
| Accrued                expenses                                                       |   |                                                 | (19,810  | )      |                                                 |   | - |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Net                cash used by operating activities                                  |   |                                                 | (125,475 | )      |                                                 |   | (78,558 | ) |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Investing                activities                                                   |   |                                                 |     |   |                                                 |   |   |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Sale                of fixed assets                                                   |   |                                                 | 293,279  |   |                                                 |   | - |   |
| Notes                receivable lending                                               |   |                                                 | (30,000  | )      |                                                 |   | - |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Net                cash used by investing activities                                  |   |                                                 | 263,279  |   |                                                 |   | - |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Financing                activities                                                   |   |                                                 |     |   |                                                 |   |   |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Notes                payable borrowings                                               |   |                                                 | 15,000   |   |                                                 |   | 83,000 |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Notes                payable payments                                                 |   |                                                 | (152,800 | )      |                                                 |   | - |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Net                cash provided by financing activities                              |   |                                                 | (137,800 | )      |                                                 |   | 235,250 |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Net                (decrease)increase in cash                                         |   |                                                 | 4        |   |                                                 |   | 4,442 |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Cash,                beginning of period                                              |   |                                                 | 531      |   |                                                 |   | 48 |   |
|                                                                                  |   |                                                 |     |   |                                                 |   |   |   |
| Cash,                end of period                                                    |   | $                                                    | 535      |   |                                                 | $      | 4,490 |   |

*See      notes to consolidated financial statements*

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***Table            of Contents***

**DUTCH      GOLD RESOURCES, INC. (formerly SMALL TOWN RADIO,      INC.)**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**NOTE 1—NATURE      OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING      POLICIES**

**NATURE      OF OPERATIONS**

**PRINCIPLES      OF CONSOLIDATION**

**ORGANIZATIONAL      AND START-UP EXPENSES**

**EARNINGS      PER SHARE**

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***Table            of Contents***

**USE      OF ESTIMATES**

**REVENUE      RECOGNITION**

**INCOME      TAX**

**FINANCIAL      INSTRUMENTS**

**FISCAL      YEAR**

**STOCK      BASED COMPENSATION**

**NOTE 2—FINANCIAL      CONDITION AND GOING CONCERN**

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***Table            of Contents***

**ITEM      3.  Controls and Procedures**

**PART      II — OTHER INFORMATION**

**Item      1.            Legal      Proceedings**

**Item      2.            Changes      in Securities and Use of Proceeds**

**Item      3.           Defaults Upon Senior Securities**

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

**Item      5.            Other      Information**

**Item      6.           Exhibits and Reports on Form 8-K**

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***Table            of Contents***

*Exhibits*

31.1

32.1

*Reports      on Form 8-K*

**SIGNATURES**

| DUTCH                GOLD RESOURCES, INC.  |
|-------------------------------------------------|
|                                  |
| By:                                             | /s/Daniel                W. Hollis |   |
|                                            | Daniel                W. Hollis, Chief Executive Officer  |
|                                            |    |
| By:                                             | /s/Daniel                W. Hollis |   |
|                                            | Daniel                W. Hollis, Chief Financial Officer  |

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