UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   Form 10-QSB

        (X)  Quarterly Report pursuant to Section 13 or 15 (d) of the Securities
             Exchange Act of 1934 For the quarterly period ended April 30, 2001

                                       OR

        ( ) 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: 0-28514



                          TREASURY INTERNATIONAL, INC.
                 (Name of Small Business Issuer in Its Charter)

              Delaware                                    98-0160284
         ------------------                           -------------------
     (State or Other Jurisdiction of          (IRS Employer Identification No.)
       Incorporation or Organization)

        1081 King St., E 2nd Floor
            Kitchener, Ontario                             N2G 2N1
         ----------------------------                      --------
   (Address of Principal Executive Offices)               (Zip Code)




  -------------------------------------------------------------------------
              (Former Name, Former Address and Former Fiscal Year,
                         if Changed Since Last Report)

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


<PAGE>


         As of April 30, 2001 935,067  shares of the  registrant's  common stock
were outstanding.

         The aggregate  market value of the voting stock held by  non-affiliates
computed by reference  to the price at which the stock was sold,  or the average
bid and asked prices of such stock, as of April 30, 2001 was $281,250. Shares of
Common Stock held by each executive  officer and director and by each person who
beneficially  owns  more  than 5% of the  outstanding  Common  Stock  have  been
excluded in that such persons may under  certain  circumstances  be deemed to be
affiliates.  This  determination of executive officer or affiliate status is not
necessarily a conclusive determination for other purposes.



<PAGE>


PART I     Financial Information
--------------------------------

ITEM 1. Financial Statements
----------------------------



Bromberg & Associate
                                                 1183 Finch Ave. West, Suite 305
                                                      Toronto, Ontario M3J 2G2
------------------------------------                    Phone: (416) 663-7521
CHARTERED ACCOUNTANTS                                    Fax: (416) 663-1546



ACCOUNTANTS' REVIEW REPORT

         Board of Directors and Shareholders
         Treasury International, Inc.

     We have reviewed the accompanying  interim  consolidated  balance sheets of
Treasury International,  Inc. as at April 30, 2001, and the interim consolidated
statements of operations, and cash flows for the period then ended in accordance
with  statements on standards for accounting and review  services  issued by the
American Institute of Certified Public Accountants.  All information included in
these  interim  consolidated  financial  statements  is  the  representation  of
management of Treasury International, Inc.

     A review  consists  principally  of  inquiries  of  Company  personnel  and
analytical  procedures  applied to financial data. It is  substantially  less in
scope than an audit in accordance with generally accepted audited standards, the
objective  of which is the  expression  of an opinion  regarding  the  financial
statements taken as a whole. Accordingly, we do not express such an opinion.

     Based on our review,  we are not aware of any material  modifications  that
should be made to the accompanying interim consolidated  financial statements in
order  for  them  to  be  in  conformity  with  generally  accepted   accounting
principles.


                                                      BROMBERG & ASSOCIATE
                                                      CHARTERED ACCOUNTANTS





         TORONTO, CANADA
         June 20, 2001



<PAGE>


                          TREASURY INTERNATIONAL, INC.
                       INTERIM CONSOLIDATED BALANCE SHEET
                              AS AT APRIL 30, 2001
                                   (UNAUDITED)


ASSETS
                                             April 30, 2001    January 31, 2001
CURRENT ASSETS
   Accounts Receivable                          $    48,252         $    46,813
   Securities Available for Sale (Note 7)            70,185             142,250
   Due from Wexcap Group                              3,000               3,000
   Sundry Assets                                      6,937              12,672
                                              -------------     ---------------

TOTAL CURRENT ASSETS                                128,374             204,735

Goodwill (Notes 2b  & 5)                            169,629             172,089
Long Term Investments                                88,266              88,266
Capital Assets (Notes 2d & 6)                        24,944              26,787
                                              -------------     ---------------

TOTAL ASSETS                                    $   411,213         $   491,877
                                              =============     ===============



LIABILITIES
CURRENT LIABILITIES
   Bank Indebtedness                            $    34,285         $    61,104
   Account Payable and Accrued Liabilities          211,017             152,250
   Current portion of long-term debt (Note 8)       354,950             346,369
                                              -------------     ---------------

TOTAL CURRENT LIABILITIES                       $   600,252         $   559,723

Deferred Gain On Sale Of Subsidiary (Note 9)              -                   -
Long Term Debt (Note 8)                             477,003             477,003
Loans Due To Officers & Directors (Note 8)          309,771             309,771
                                              -------------     ---------------
TOTAL LIABILITIES                               $ 1,387,026         $ 1,346,497
                                              =============     ===============





<PAGE>


SHAREHOLDERS' EQUITY
SHARE CAPITAL
  Authorized - 100,000,000 common shares
  Issued - 935,067 common shares (Note 10)            9,351               9,271
  Contributed Surplus (Note 11)                   4,784,482           4,772,162
  Deficit                                        (5,709,458)         (5,576,867)
                                              -------------     ---------------
TOTAL SHAREHOLDERS EQUITY                      ($   915,625)       ($   795,434)
                                              -------------     ---------------
   Accumulated Other Deficit (Note 7)          ($    60,188)       ($    59,186)
                                              -------------     ---------------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY        $   411,213         $   491,877
                                              =============     ===============




<PAGE>


                          TREASURY INTERNATIONAL, INC.
                    INTERIM CONSOLIDATED STATEMENT OF DEFICIT
                 For the THREE MONTH period ENDED APRIL 30, 2001
                                   (UNAUDITED)


                                    April 30, 2001               April 30, 2000

Balance, beginning of period           $(5,576,867)                $(1,529,217)

Net Loss for the period                   (132,591)                   (222,426)
                                   ---------------           -----------------

Balance, end of period                 $(5,709,458)                $(1,751,643)
                                   ===============           =================




<PAGE>


                          TREASURY INTERNATIONAL, INC.
                  INTERIM CONSOLIDATED STATEMENT OF OPERATIONS
                 For the THREE MONTH PERIOD ENDED APRIL 30, 2001
                                   (UNAUDITED)

                                         April 30, 2001         April 30, 2000

REVENUE                                       $ 42,067              $  57,410

COST OF GOODS SOLD                               41,362                 46,696
                                            -----------           ------------
GROSS PROFIT                                        705                 10,714

EXPENSES
  Software Development Expense                    7,716                      -
  General and administrative                     74,339                222,667
                                            -----------           ------------
LOSS from operations before under noted items    81,350                211,953

Loss on Sale of Shares                           30,363                      -
Bad debt expense                                 15,645                      -
Interest Expense                                    930                 10,473
Amortization                                      4,303                 37,125
                                            -----------           ------------
NET LOSS                                      $ 132,591              $ 222,426
                                            ===========           ============

Earnings per share                            $    0.00              $    0.00
                                            ===========           ============

Weighted average number of common               947,800             92,070,591
shares outstanding                          ===========           ============




<PAGE>


                          TREASURY INTERNATIONAL, INC.
                        INTERIM CONSOLIDATED STATEMENT OF
                         CHANGES IN SHAREHOLDERS' EQUITY
                 For the THREE MONTH PERIOD ENDED APRIL 30, 2001
                                   (UNAUDITED)



                                     COMMON       PAID-IN   CONTRIBUTED SURPLUS
                                     SHARES       CAPITAL
                                    ---------    ---------- -------------------

Balance-January 31, 2000 (Note 9)    927,067       $9,271          $ 4,772,162

Issued 8,000 shares of common          8,000           80               12,320
stock inconsideration for
professional services of $12,400.

                                   ---------    ---------       --------------
Balance-April 30, 2000               935,067       $9,351          $ 4,784,482
                                   =========    =========       ==============




<PAGE>


                          TREASURY INTERNATIONAL, INC.
                  INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
                 For the THREE MONTH PERIOD ENDED APRIL 30, 2001
                                   (UNAUDITED)

                                                April 30, 2001   April 30, 2000
Cash flows from operating activities
    Net loss                                        $(132,591)       $(222,426)
Adjustment to reconcile net loss to net
cash used in operating activities
    Amortization                                       4,303            37,125
    Increase in accounts receivable                   (1,439)          (25,421)
    Decrease (Increase) in sundry assets               5,735           (27,354)
    Increase in Securities Available for Sale         11,877          (128,753)
    Increase (decrease) in accounts payable           58,767           (11,292)
    Increase in amount due from Wexcap Group               -                 -
                                                ------------       -----------
Net cash used for operating activities               (53,348)         (378,121)
                                                ------------       -----------
Cash flows from financing activities
    Loan Payable                                           -           (43,772)
    Long-term debt                                     8,581           569,271
    Proceeds on issue of common shares                12,400          (185,171)
                                                ------------       -----------
Cash provided by financing activities                 20,981           340,328
                                                ------------       -----------
Cash flows from investing activities
    Goodwill                                               -           200,000
    Purchase of capital assets                             -           (13,933)
    Research & Development Costs                           -           (89,747)
    Long Term Investments                             59,186           (38,220)
                                                ------------       -----------
Cash provided by investing activities                 59,186            58,100
                                                ------------       -----------
Decrease in bank indebtedness                         26,819            20,307
(Bank indebtedness), beginning of period             (61,104)          (56,547)
                                                ------------       -----------
(Bank indebtedness), end of period                  $(34,285)         $(36,240)
                                                ============       ===========



<PAGE>


                          TREASURY INTERNATIONAL, INC.
               NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
                              AS AT APRIL 30, 2001


1. Nature of business

              Treasury International, Inc., through its wholly owned
         subsidiaries, Compelis Corporation and Retailport.com, Inc., is
         involved in business to business E-Commerce, Web-enabled Publishing and
         Internet Portal development.



2. Summary of significant accounting policies
         a)   Basis of consolidation
              These consolidated financial statements include the accounts of
              the company and the revenues and expenses of Compelis Corporation,
              its wholly owned subsidiary.

          b)  Goodwill
              The goodwill arises on the purchase of common shares of Compelis
              Corporation. Amortization is provided on a straight-line basis
              over a twenty-year period.

          c)  Research and development costs
              The research and development costs relate to the work done in
              developing an e-commerce software package and an Internet point of
              sale package, together with database development. These costs are
              written off as incurred and recorded as software development
              expense in the statement of operations.

          d)  Capital assets
              Capital assets are recorded at cost less accumulated amortization.
              Amortization is provided as follows:

                Office equipment                     - 20% diminishing balance

                Computer equipment                   - 30 % diminishing balance

                Leasehold improvements               - term of lease

          e)  Revenue Recognition
              Revenue is recognized when customers are invoiced for products
              shipped by the company.

          f)  Income per share
              Income per share is calculated based on the weighted average
              number of shares outstanding during the period.

          g)  General
              These financial statements have been prepared in accordance with
              United States generally accepted accounting principles (GAAP), as
              they relate to these financial statements.
<PAGE>

                          TREASURY INTERNATIONAL, INC.
               NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
                              AS AT APRIL 30, 2001


3.  Accounts Receivable
         Accounts Receivable consist of the following:


          Trade Accounts Receivable                                $ 89,885

          Less: Allowance for Doubtful Accounts                    $ 41,633
                                                              --------------
          Accounts Receivable                                      $ 48,252
                                                              --------------

4. Goodwill
                           April 30, 2001                      January 31, 2001
         ----------------------------------------------------  ----------------
                            Accumulated        Net Book Value   Net book value
            Cost            Amortization
         -------------  ------------------     --------------  ---------------
           $ 196,809             $ 27,180         $ 169,629       $ 169,629
         ============   ==================     ==============  ===============


5. Capital Assets
                                         April 30, 2001        January 31, 2000
     --------------------------------------------------------- ----------------
                                      Accumulated    Net book      Net book
                             Cost     Amortization     value         value
                            -------- -------------  ----------    -------------
     Office equipment       $ 21,715      $ 15,392    $ 6,323           $ 6,656

     Computer equipment       43,594        24,973     18,621            20,131

     Leasehold improvements    1,407         1,407          -                 -
                            --------   -----------  ---------     -------------
                            $ 66,716      $ 41,772   $ 24,494          $ 26,787
                            ========   ===========  =========     =============


6. Securities Available for Sale
              The Company owns equity securities in other Corporations that
     management considers to be strategic or synergistic to the Company's
     growth. The Securities Available for Sale are recorded at their fair
     market value for this reporting period (April 30, 2001) according to
     the requirements of SFAS 115.

                                                           Reported   Fair Value
     Issuer                             Market    Cost    Gain (Loss) (@4/30/01)
     ---------------------------------------------------------------------------
     American Sports History Inc.       OTC BB  $126,873    ($58,123)   $68,750
     Wall Street Financial Corporation  OTC BB  $  3,500    ($ 2,065)   $ 1,435
                                               ---------  ----------- ---------
                                                $130,373    ($60,188)   $70,185
                                               ---------  ----------- ---------
<PAGE>


                          TREASURY INTERNATIONAL, INC.
               NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
                              AS AT APRIL 30, 2001



7. Notes payable
              The notes payable consist of the following:

         Due Date                     Principal Amount          Interest Rate
         Current                          $   346,369              12% - 15%
         Loans due to Officers &          $   309,771              12% - 15%
         Directors
         July 20, 2005                    $   477,003                    12%
                                      ---------------
         Total                            $ 1,133,143
                                      ---------------

              Loans due to Officers and Directors of the Company have no fixed
repayment terms.

8.  Outstanding Shares
              During the period the Company reverse split its common stock
100:1.

9. Stock Options
         a)   Options to purchase common shares have been issued under the
              Employee Benefit Plan Registration Statement, registered February
              25, 1998, to officers and key employees of the company and its
              subsidiary. Options outstanding at April 30, 2001 are as follows:

           Year Granted         Expiry Date        Price Range    No. of Shares
         ----------------------------------------------------------------------

          November 1, 2001      October 31, 2002        $1.10            1,005
         ----------------------------------------------------------------------
         Total Outstanding                                               1,005
                                                             ------------------

10. Contributed surplus
              Contributed surplus represents the premium paid on the issuance of
          common shares.



11. Income taxes
              As at April 30, 2001 the company had a net operating loss
         carryover of approximately $6,460,268 expiring in various years through
         2015.


<PAGE>


ITEM 2.  Management's Discussion and Analysis or Plan of Operation
------------------------------------------------------------------

         This Quarterly Report on Form 10-QSB for the quarterly period ended
April 30, 2001 contains "forward-looking" statements within the meaning of the
Federal securities laws. These forward-looking statements include, among others,
statements concerning the Company's expectations regarding business
opportunities and market trends, competition, sales trends, the availability of
debt and equity capital to fund the Company's capital requirements, and other
statements of expectations, beliefs, future plans and strategies, anticipated
events or trends, and similar expressions concerning matters that are not
historical facts. The forward-looking statements in this Quarterly Report on
Form 10-QSB for the quarterly period ended April 30, 2001 are subject to risks
and uncertainties that could cause actual results to differ materially from
those results expressed in or implied by the statements contained herein.


Overview
--------
         Treasury International, Inc. (the "Company") is a holding company whose
objective is to create shareholder value by acquiring and/or developing
operations and proprietary assets that generate sustainable revenues and which
yield long-term growth potential. The Company's operations are located primarily
in North America.

         During the next few years, the Company expects to continue to implement
its development strategy. The Company's development strategy includes acquiring
operations and assets that meet the following objectives: (i) allow the Company
to gain strategic position, (ii) improve asset productivity, and (iii) improve
growth potential in both emerging technologies and key targeted vertical market
sectors. To increase market share, the Company may also attempt to acquire or
seek alliances with key competitors and other companies that may have important
products and synergies with the Company's existing operations and products.

         The Company's management team has revised both the Company's
restructuring plans and the Company's operations. Management believes the
Company is now positioned to attract new investment and identify potential
acquisition targets.

         The purchase of Pioneer Media Group in May 1999 (now known as Compelis
Corporation) allowed the Company to reorient its business focus through entry
into the growing Internet E-commerce and E-business field. In conjunction with
the acquisition of Pioneer Media Group, the Company also reacquired 3,200,000
shares of its common stock owned by Pioneer Media Group prior to the
transaction, which resulted in a reduction to goodwill of $200,000. Management
believes that the acquisition of these new software assets will allow the
Company to generate revenues from new sources. As the core of the Company's
Internet strategy, management also believes that these assets will represent
significant opportunities for development.

         The Company's current business is the design, development and delivery
of internet-based enterprise management and communication solutions for
organizations with less than 500 employees and sales of less than $100,000,000.
The Company's products facilitate the sharing of business-critical information
between employees, trading partners and customers to streamline processes, to
<PAGE>
encourage knowledge transfer and to build competitive advantage. The Company's
operations include Compelis Corporation, Retailport.com, Inc. and Webco-ops.com,
Inc. The Company also owns the following suite of proprietary software assets
and activities known as the Active Business Solutions: ActiveRMS,
ActiveCommerce, ActiveCatalog, ActiveCD, ActiveDataBank, ActiveHost and
ActiveDesign.

         The Company's former subsidiary, Mega Blow Mouldings Limited ("Mega
Blow"), was acquired on October 30, 1996 for $$2,863,182, consisting of
$1,361,302 of cash and $1,501,880 of debentures. Subsequently, Mega Blow was
sold effective November 30, 1998 for $4,250,000, consisting of a $250,000 cash
deposit, a $4,000,000 promissory note, and an $850,000 promissory note. On
November 7, 1999, the $4,000,000 promissory note was reduced by a credit against
the debentures of $1,394,266 (principal of $1,240,602 and accrued interest of
$153,664). The Company currently holds a promissory note with an outstanding
principal balance of $2,649,398, which is currently in default, as a result of
which the Company did not recognize any related interest income during the three
months ended April 30, 2001. During the fiscal year ended January 31, 2000, the
note receivable resulting from the sale of Mega Blow was restructured by
eliminating the $850,000 note receivable against deferred gain.


Three Months Ended April 30, 2001 and 2000
------------------------------------------

         The Company's results of operations for the three months ended April
30, 2001 include the operations of Compelis Corporation.

         Revenues from operations for the three months ended April 30, 2001 were
$42,067, as compared to $57,410 for the three months ended April 30, 2000, an
decrease of $15,343 or 26.7%. Operating revenues include only the sales
activities completed during the period as the Company books its revenue only on
the completion of a contract.


         Cost of goods sold was $41,362 or 98.3% of operating revenues for the
three months ended April 30, 2001, as compared to $46,696 or 81.3% of operating
revenues for the three months ended April 30, 2000. The Company's policy is to
report all costs of producing its products in the period they are incurred and
this negatively impacts its gross margin if corresponding revenues are not
recognized in the same reporting period.

         General and administrative expenses decreased to $72,929 for the three
months ended April 30, 2001, as compared to $185,542 for the three months ended
April 30, 2000. General and administrative costs include the normal costs
associated with the ongoing operations and administration of a public company.

         Software development costs were $7,716 for the three months ended April
30, 2001, as compared to $62,807 for the three months ended April 30, 2000. The
Company's ability to develop and market new products and product enhancements in
a timely manner is subject to various factors, including the availability of
qualified personnel, the ability to solve technical issues, and the availability
of adequate financial resources to support such efforts, as well as other
factors outside the control of the Company. There can be no assurances that the
Company will be successful in developing and marketing new products and product
enhancements.
<PAGE>

         As a result of the foregoing factors, the Company recorded a loss of
$132,591 for the three months ended April 30, 2001, as compared to a loss of
$222,426 for the three months ended April 30, 2000.

Liquidity and Capital Resources
-------------------------------

         During the three months ended April 30, 2001 and 1999, the primary
sources of liquidity for the Company were from the sale of common stock,
borrowings under its credit facilities and funds available from operations.

         Operating. During the three months ended April 30, 2001 and 2000, the
Company's operations used cash resources of $53,348 and $378,121, respectively.
As of April 30, 2001, the Company's net working capital deficiency was
($411,690), as compared to ($354,988) at January 31, 2001, respectively,
reflecting current ratios of .21:1 and .36:1, respectively. The increase in the
net working capital deficiency at April 30, 2001 as compared to January 31, 2001
was in part a result of an increase in the Company's accounts payable during the
period and the use of proceeds from the sale of marketable securities to fund
operations.

         Financing. During the three months ended April 30, 2001 and 2000, net
proceeds (disbursements) with respect to the issuance (repurchase) of common
stock was $12,400 and ($185,171), respectively.

         At January 31, 2001 and April 30, 2001, the Company owed $61,104 and
$34,285, respectively, to the Royal Bank of Canada under a $67,000 operating
line of credit.

         Loans and notes payable increased by $8,581 during the three months
ended April 30, 2001.

         The Company believes, based on its currently proposed plans and
assumptions relating to its existing assets, that its projected cash flows from
operations, combined with borrowings and/or the sale of common stock or assets,
will be sufficient to meet its operating and financing requirements through July
31, 2001. However, depending on the actual results of operations, the Company
may seek to raise additional debt or equity capital through public or private
financings, increase its current lending facilities, or seek project-specific
financings. There can be no assurances that the Company will be successful in
raising the required capital on a timely basis and/or under acceptable terms and
conditions, and the Company's inability to do so may impair its ability to
implement its business plan.


Recent Accounting Pronouncements
--------------------------------

         In June 1998, the Financial Accounting Standards Board issued Statement
No. 133, "Accounting for Derivative Instruments and Hedging Activities" ("SFAS
No. 133"), which, as amended, is effective for financial statements for all
fiscal quarters of all fiscal years beginning after June 15, 2000. SFAS No. 133
standardizes the accounting for derivative instruments, including certain
derivative instruments embedded in other contracts, by requiring that an entity
<PAGE>
recognize those items as assets or liabilities in the statement of financial
position and measure them at fair value. SFAS No. 133 also addresses the
accounting for hedging activities. The Company will adopt SFAS No. 133 for its
fiscal year beginning February 1, 2001. The Company currently does not have any
derivative instruments nor is it engaged in any hedging activities, thus the
Company does not believe that implementation of SFAS No. 133 will have a
material effect on its financial statement presentation and disclosures.

         In December 1999, the Staff of the Securities and Exchange Commission
issued Staff Accounting Bulletin No. 101, "Revenue Recognition in Financial
Statements" ("SAB No. 101"). SAB No. 101, as amended by SAB No. 101A and SAB No.
101B, is effective no later than the fourth fiscal quarter of fiscal years
beginning after December 15, 1999. SAB No. 101 provides the Staff's views in
applying generally accepted accounting principles to selected revenue
recognition issues. The Company believes that it currently complies with the
accounting and disclosures provisions described in SAB No. 101. Accordingly, the
Company does not believe that implementation of SAB No. 101 will have a material
effect on its financial statement presentation and disclosures.




<PAGE>


         PART II.  OTHER INFORMATION

         Item 6.  Exhibits and Reports on Form 8-K

            (a) Exhibits

            (b) Reports on Form 8-K. None

SIGNATURES

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


                                                  TREASURY INTERNATIONAL, INC.



         Dated: June 25, 2001       By /s/ Dale Doner
                                       -----------------------------------------
                                            Dale Doner, President



         Dated: June 25, 2001       By /s/ Kristine Sickels
                                       -----------------------------------------
                                       Kristine Sickels, Chief Financial Officer