SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-QSB

                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                      FOR THE QUARTER ENDED MARCH 31, 2000
                         COMMISSION FILE NO. 2-70345-NY.

                                  TIMEONE, INC.
             (Exact name of Registrant as specified in its Charter)


         Nevada                                         88-0182534
-------------------------------                   -----------------------
(State or other jurisdiction of                      (I.R.S. Employer
 Incorporation or Organization)                   Identification  Number)

                       631 North Stephanie Street, PMB 378
                               Henderson, NV 89014
                    (Address of Principal Executive Offices)

               Registrant's Telephone Number, including Area Code:
                                 (702) 456-8070

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filled by Section 13 or 15(d) of the  Securities  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.

                           (1)      Yes:    X     No:

                           (2)      Yes:    X     No:

         Number of Shares Outstanding at the End of the Fiscal Quarter:
                        8,266,300 shares of common stock
         (Indicate Number of Shares Outstanding of Each Class of Common
                       Stock as of the end of the Quarter)

                       Page 1 of 9 consecutively numbered
pages.

                                        1


<PAGE>



                                     PART I

                              FINANCIAL INFORMATION


                  ITEM 1. FINANCIAL STATEMENTS REQUIRED BY FORM 10-QSB

         TimeOne, Inc., a development stage company, ("Registrant" or "Company")
files herewith an unaudited balance sheet of the Registrant as of March 31, 2000
and the related statements of income,  stockholders'  equity, and cash flows for
the three month periods ended March 31, 2000 and 1999.  The unaudited  financial
statements  included in this  report on Form  10-QSB  have been  prepared by the
Company.  In  the  opinion  of the  management  of the  Company,  the  financial
statements fairly present the financial condition of the Company.



                                        2


<PAGE>



                                  TimeOne, Inc.
                          (A Development Stage Company)
                           Consolidated Balance Sheet
                                   (Unaudited)

                                     ASSETS
<TABLE>
<CAPTION>
                                                                                         March 31,
                                                                                           2000
                                                                                    -----------------
Current Assets
<S>                                                                                 <C>
   Cash                                                                             $       1,126,496
   Government Securities                                                                      599,250
   Note Receivable                                                                            200,000
   Prepaid Expenses                                                                            15,744
                                                                                    -----------------
                                                            Total Current Assets            1,941,490

Other Assets
   Security Deposits                                                                            2,501
   Montana Property                                                                            56,589
                                                                                    -----------------
                                                              Total Other Assets               59,090
                                                                                    -----------------

                                                                    TOTAL ASSETS    $       2,000,580
                                                                                    =================

                        LIABILITIES & STOCKHOLDERS EQUITY

Current Liabilities
   Accounts Payable and Accrued Expenses                                            $          55,840
                                                                                    -----------------
                                                       Total Current Liabilities               55,840

Stockholders Equity
   Capital Stock, Common                                                                          826
   Additional Paid-in Capital                                                               1,229,336
   Retained Earnings                                                                          714,578
                                                                                    -----------------
                                                       Total Stockholders Equity            1,944,740
                                                                                    -----------------

                                         TOTAL LIABILITIES & STOCKHOLDERS EQUITY    $       2,000,580
                                                                                    =================
</TABLE>


                                        3


<PAGE>



                                  TimeOne, Inc.
                          (A Development Stage Company)
                      Consolidated Statement of Operations
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                     Three Months Ended
                                                                                                          March 31,
                                                                                                 2000                  1999
                                                                                          ------------------    ------------------
Revenues
<S>                                                                                       <C>                   <C>
   Gain on Sales of Securities                                                            $                0    $          260,667
   Interest and Dividends                                                                             22,192                 5,716
   Miscellaneous income                                                                                    0                   103
   Adjustment of Government Securities to market                                                       1,614                     0
   Unrealized Gain on Securities                                                                           0               136,665
                                                                                          ------------------    ------------------
                                                                           Total Revenue              23,806               403,151

Costs and Expenses
   Interest                                                                                                0                 6,516
   Professional Fees                                                                                  31,506                33,800
   Legal and Accounting                                                                               11,899                   600
   Office and Travel                                                                                  30,815                12,384
                                                                                          ------------------    ------------------
                                                                Total Costs and Expenses              74,220                53,300
                                                                                          ------------------    ------------------

                                                                 NET INCOME BEFORE TAXES             (50,414)              349,851

   Income Taxes                                                                                            0                     0
                                                                                          ------------------    ------------------

                                                   NET INCOME FROM CONTINUING OPERATIONS             (50,414)              349,851

                                            NET GAIN (LOSS) FROM DISCONTINUED OPERATIONS                   0              21,375(1)
                                                                                          ------------------    ----------------

                                                                              NET INCOME  $          (50,414)   $          371,226
                                                                                          ==================    ==================
</TABLE>

   (1) Adjustment to income taxes previously accrued.



                                        4


<PAGE>



                                  TimeOne, Inc.
                          (A Development Stage Company)
                        Statement of Stockholders Equity
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                Additional           Retained
                                                                  Common Stock                    Paid-in            Earnings
                                                           Shares              Amount             Capital            (Deficit)
                                                     ------------------  -----------------   -----------------  ------------------
<S>                                                  <C>                 <C>                 <C>                <C>
Balances at December 31, 1995                                 6,113,900  $             611   $       1,120,692  $          121,417

Stock issued for assets                                       2,000,000                200             124,800
Restricted stock issued to employees                            350,000                 35              32,776
   Net Income for year ended
     December 31, 1996                                                                                                     107,831
                                                     ------------------  -----------------   -----------------  ------------------
Balances at December 31, 1996                                 8,463,900                846           1,278,268             229,248

Cancel Treasury stock                                          (109,000)               (11)            (48,941)
   Net Income for year ended
     December 31, 1997                                                                                                      64,209
                                                     ------------------  -----------------   -----------------  ------------------
Balances at December 31, 1997                                 8,354,900                835           1,229,327             293,457

   Net Income for year ended
     December 31, 1998                                                                                                     274,691
                                                     ------------------  -----------------   -----------------  ------------------
Balances at December 31, 1998                                 8,354,900                835            1229,327             568,148

Cancel Company stock                                            (88,600)                (9)                  9
   Net Income for year ended
     December 31, 1999                                                                                                     196,844
                                                     ------------------  -----------------   -----------------  ------------------
Balances at December 31, 1999                                 8,266,300                826           1,229,336             764,992

   Net Income for quarter ended
     March 31, 2000                                                                                                        (50,414)
                                                     ------------------  -----------------   -----------------  ------------------

Balances at March 31, 2000                                    8,266,300  $             826   $       1,229,336  $          714,578
                                                     ==================  =================   =================  ==================

</TABLE>


                                        5


<PAGE>



                                  TimeOne, Inc.
                          (A Development Stage Company)
                      Statement of Consolidated Cash Flows
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                                     Three Months Ended
                                                                                                          March 31,
                                                                                                 2000                  1999
                                                                                          ------------------    ------------------
Operating Activities
<S>                                                                                       <C>                   <C>
   Net Income (Loss)                                                                      $          (50,414)   $          371,226
   Adjustments to reconcile net income (loss) to net cash
     provided by operating activities:
       Accounts Receivable                                                                               389                     0
       Unrealized Gain on Government Securities                                                       (1,614)             (136,665)
       (Increase) Decrease in Receivables                                                           (200,000)              300,000
       Increase (Decrease) in Accounts Payable and Payroll Tax                                       (50,000)                    0
                                                                                          ------------------    ------------------
                                               Net Cash Provided By Operating Activities            (301,639)              534,561

Investing Activities
   Cost of Government Securities Sold                                                              3,809,782             1,368,279
   Purchase of Government Securities                                                              (2,802,693)           (1,563,943)
                                                                                          ------------------    ------------------
                                                   Net Cash Used By Investing Activities           1,007,089              (195,664)
                                                                                          ------------------    ------------------

Increase (Decrease) in Cash and Cash Equivalents                                                     705,450               338,897
Cash and Cash Equivalents at Beginning of Period                                                     421,046               622,408
                                                                                          ------------------    ------------------

                                              Cash and Cash Equivalents at End of Period  $        1,126,496    $          961,305
                                                                                          ==================    ==================

</TABLE>


                                        6


<PAGE>



                                  TIMEONE, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                                 March 31, 2000


NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Revenue Recognition
Interest income is accrued as earned.  Gains or losses on the sale of securities
are recorded as of the trade date

U.S. Government Securities
U.S.  Government  securities,  as a  group,  are  carried  at  market  value  in
accordance with FAS #115.  Prior to January 1, 1994, the securities were carried
at the lower of cost or market.  At March 31,  2000,  an  increase of $1,614 was
made to adjust to market.

Income Taxes
No federal  income  taxes  were due for the year ended  December  31,  1999.  At
December 31, 1999, the Company had prepaid income taxes of $15,744.

Cash and Cash Equivalents
For  financial  statement  purposes,  the Company  considers  all highly  liquid
investments with an original  maturity of three months or less when purchased to
be cash equivalents.

Estimates
The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect the  reported  amounts of assets,  liabilities,  revenues,  and  expenses
during the reporting period.  Estimates also affect the disclosure of contingent
assets and liabilities at the date of the financial  statements.  Actual results
could differ from these  estimates.  Such  estimates of  significant  accounting
sensitivity  are  allowance  for  doubtful  accounts  and  reserves for obsolete
inventory.

NOTE B - DEVELOPMENT STAGE COMPANY

The Company  re-entered the development stage on January 1, 1999, after the sale
of its sole operating activity "Buffs-N-Puffs" carwash.  Management is currently
seeking other business  opportunities  while earning the maximum return possible
on its cash and other liquid assets.

NOTE C - MONTANA LAND

In September,  1994, Daniel Pentelute,  the Majority stockholder of the Company,
purchased 21 acres of land in Montana. Three days later, the Company purchased a
50%  interest in the land from Mr.  Pentelute  at his cost (50%).  The other 50%
interest was  purchased by Desert Land  Enterprises  whose sole  stockholder  is
Daniel Pentelute. The cost of the 50% interest was $52,590. In 1998, Desert Land
presented  the  Company  with a bill for  approximately  $42,000  for 50% of the
improvements  made to the land.  The Company  agreed to repay these costs as the
lots were sold. The balance due at March 31, 2000 was $14,279.

NOTE D - FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amount of cash and cash equivalents,  accounts payable, and accrued
expenses  approximate  fair  value due to the short  maturity  periods  of these
instruments.

NOTE E - SUBSEQUENT EVENTS

On March 3, 2000, the Company  signed a non-binding  letter of intent to acquire
all of the outstanding shares of SunGlobe Fiber Systems Corporation,  a Delaware
corporation.  The due  diligence  process is expected to be completed by May 31,
2000.

NOTE F - NOTE RECEIVABLE

Note  receivable  from a private  corporation  represents  an unsecured  loan of
$200,000 dated March 16, 2000 with interest accruing at the published prime rate
in the Wall Street Journal. The due date of the note is May 31, 2000.

NOTE G - RELATED PARTY TRANSACTIONS

During 1994, Daniel Pentelute,  the major shareholder of the Company,  purchased
21 acres of land in Montana and three (3) days later sold a one-half interest to
the  Company at his cost.  The other  one-half  interest is owned by Desert Land
Enterprises, whose sole shareholder is Daniel Pentelute.

                                        7


<PAGE>


                                  TIMEONE, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                                 March 31, 2000



NOTE G - RELATED PARTY TRANSACTIONS - (continued)

In  January of 1999,  the Board of  Directors  of the  Company  entered  into an
agreement with Deseret Land Enterprises,  Inc., whose sole shareholder is Daniel
Pentelute,  President  (thru March 13,  2000) and  majority  shareholder  of the
Company, to provide certain services to the Company on a monthly basis for a fee
of $4,500 per month,  plus all out of pocket  expenses.  These services  include
telephone and fax service,  all necessary  secretarial  services,  research into
possible business  opportunities,  and access to various financial publications,
websites,  and sources.  This agreement was approved by the directors  having no
financial  interest  in the  agreement  and is  believed  to be at or below  the
prevailing rates for similar services from independent sources.

In January,  1999,  the Company  entered into a retainer  agreement  with Roy E.
Molina  Certified  Public  Accountant,  Inc. to provide all in-house  accounting
services, tax advice, and other miscellaneous  accounting services for a monthly
fee of $4,000,  including all expenses. Mr. Molina is a Director,  President (as
of March 13, 2000) and Chief  Financial  Officer of the Company.  This agreement
was approved by the Directors having no financial  interest in the agreement and
is believed to be at our below the  prevailing  rates for similar  services from
independent sources.



                                        8


<PAGE>



ITEM 2.           MANAGEMENT'S PLAN OF OPERATION

         Since the sale of the Carwash  business on October 20, 1998 the Company
has had no operating  business.  Comparing operating results from previous years
is not  meaningful.  Management of the Company has and will continue to evaluate
new business opportunities.

         On March 3, 2000,  the Company  announced  that it had  entered  into a
non-binding  letter  of  intent  to  acquire  all of the  outstanding  shares of
SunGlobe Fiber Systems Corporation ("SGFS"), a Delaware corporation.

         SGFS is  developing  the "Maya-1  Fiber  Network",  which  combines the
technology of undersea fiber optic cable and communication  satellites to create
a seamless digital  Internet and telephony  delivery system  throughout  Central
America. The Maya-1 cable is scheduled to become operational in June of 2000 and
will be shared by SGFS and other major foreign and domestic Tier 1 International
Carriers.  The  Company has loaned  SGFS  $200,000 to help fund the  development
costs.

         Under the terms of the agreement, SGFS shareholders will receive 51% of
the issued and outstanding shares of the combined companies.  The closing of the
transaction  is  dependent  on  satisfying  a number  of  conditions  precedent,
including each party  completing its due diligence.  Significant  sums have been
expended during this quarter on the due diligence process.


                                    SIGNATURE

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.

                                    TimeOne, Inc.
                                    (A Development Stage Company)


Date:  May 15, 2000                 By:
                                    Roy E. Molina
                                    President



                                        9