SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB


(Mark One)

     [X]  Quarterly report under Section 13 or 15(d) of the Securities  Exchange
          Act of 1934 for the quarterly period ended September 30, 2000.

     [ ]  Transition  report  under  Section  13 or 15(d)  of the  Securities
          Exchange Act of 1934 for the transition period from ______ to ______ .


         Commission file number: 0-29321
                                 -------


                             ASWAN INVESTMENTS, INC.
                             -----------------------
        (Exact name of small business issuer as specified in its charter)




               Nevada                                         87-0643635
               ------                                         ----------
  (State or other jurisdiction of                          (I.R.S. Employer
   incorporation or organization)                         Identification No.)





                 1403 East 900 South, Salt Lake City, Utah 84105
                 -----------------------------------------------
               (Address of principal executive office) (Zip Code)


                                 (801) 582-9609
                                 --------------
                           (Issuer's telephone number)


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 XX          No


The number of outstanding shares of the issuer's common stock,  $0.001 par value
(the only class of voting stock), as of November 9, 2000 was 6,044,500.


<PAGE>



                                TABLE OF CONTENTS

                                     PART I

ITEM 1.  FINANCIAL STATEMENTS..................................................3

Unaudited Balance Sheet as of September 30, 2000 ..............................4

Unaudited Statement of Operations for the three and nine
months ended September 30, 2000 and the period from Date of
Inception to September 30, 2000................................................5

Unaudited Statement of Cash Flows for the nine months
ended September 30, 2000 and the period from Date of
Inception to September 30, 2000................................................6

Notes to Consolidated Unaudited Financial Statements...........................7

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.............8

                                     PART II

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

SIGNATURES.....................................................................9

INDEX TO EXHIBITS.............................................................10












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                                        2

<PAGE>



                                     PART I

ITEM 1.           FINANCIAL STATEMENTS

As used herein, the term "Company" refers to Aswan  Investments,  Inc., a Nevada
corporation,  and its subsidiaries and predecessors unless otherwise  indicated.
Unaudited  consolidated  interim financial  statements including a balance sheet
for the  Company as of the  quarter  ended  September  30,  2000,  statement  of
operations, and statement of cash flows for the interim period up to the date of
such balance sheet and the period since inception are attached hereto as Pages 4
through 7 and are incorporated herein by this reference.











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                                        3

<PAGE>





                             Aswan Investments, Inc.
                         (A Developmental Stage Company)
                             Unaudited Balance Sheet
                            As of September 30, 2000
<TABLE>
<CAPTION>
                                                                                                  September 30, 2000
                                                                                                     (unaudited)
                                                                                                  ----------------
ASSETS
<S>                                                                                           <C>
      Current Assets - cash                                                                    $               575
                                                                                                  ----------------

            Total Assets                                                                                       575
                                                                                                  ================

LIABILITIES AND STOCK HOLDERS' EQUITY
      Current Liabilities:
                  Accounts Payable/Related Parties                                             $             2,000
                  Accrued Expenses                                                                           2,642
                                                                                                  ----------------
            Total Current Liabilities
                Total Current Liabilities                                                                    4,642

      Stockholders' equity
            Preferred stock ($.001 par value, 5,000,000
                 shares authorized; no shares issued and
                 outstanding                                                                                     -
            Common stock ($.001 par value 45,000,000
                 shares authorized; 6,044,500 shares issued and
                 outstanding September 30, 2000                                                              6,045
            Additional paid in capital                                                                         337
            Accumulated Deficit                                                                            (10,449)
                                                                                                  ----------------
                 Total stockholders' equity                                                                 (4,067)
                                                                                                  ----------------
TOTAL LIABILITIES AND EQUITY                                                                   $               575
                                                                                                  ================
</TABLE>




    The accompanying notes are an integral part of these financial statements




                                        4

<PAGE>


                             Aswan Investments, Inc.
                         (A Developmental Stage Company)
                       Unaudited Statements of Operations


<TABLE>
<CAPTION>
                                                             Three Months             Nine Months              December 7, 1999
                                                                 Ended                   Ended                  (inception) to
                                                             September 30,           September 30,              September 30,
                                                                 2000                     2000                       2000
                                                          -------------------      ------------------       ----------------------
<S>                                                   <C>                      <C>                      <C>
Revenues                                               $                    -   $                   -    $                       -
General and Administrative Costs                                       (2,237)                 (9,539)                     (10,449)
                                                          -------------------      ------------------       ----------------------

Net Loss                                               $               (2,237)  $              (9,539)   $                 (10,449)
                                                          ===================      ==================       ======================
Loss per common share-basic and diluted                $                    -   $                   -    $                       -
                                                          ===================      ==================       ======================
Weighted average common shares basic and
diluted                                                             6,044,000               5,740,000                    5,154,000
                                                          ===================      ==================       ======================
</TABLE>



    The accompanying notes are an integral part of these financial statements




                                        5

<PAGE>





                             Aswan Investments, Inc.
                         (A Developmental Stage Company)
                       Unaudited Statements of Cash Flows


<TABLE>
<CAPTION>
                                                                               Nine Months                 December 7,
                                                                                  Ended                 1999 (inception)
                                                                              September 30,             to September 30,
                                                                                   2000                       2000
                                                                           --------------------      ----------------------
<S>                                                                     <C>                       <C>
CASH FLOWS FROM OPERATING ACTIVITIES
       Net Loss                                                          $               (9,539)   $                (10,449)
       Adjustments to reconcile Net Loss to Net Cash
          (used in) operations:
             Common stock issued for services                                             5,007                       5,007
             Increase in accounts payable and accrued expenses                            2,642                       2,642
                                                                           --------------------      ----------------------
       Net cash provided by (used in ) Operating Activities                              (1,890)                     (2,800)
                                                                           --------------------      ----------------------
CASH FLOWS FROM INVESTING ACTIVITIES                                                          -                           -
                                                                           --------------------      ----------------------
CASH FLOWS FROM FINANCING ACTIVITIES
       Issuance of common stock                                                               -                         910
       Decrease in stock subscription receivable                                            465                         465
       Increase in related party payable                                                  2,000                       2,000
                                                                           --------------------      ----------------------
       Net cash Provided (used) by Financing Activities                                   2,465                       3,375
                                                                           --------------------      ----------------------
NET CASH INCREASE FOR PERIOD                                                                575                         575
                                                                           --------------------      ----------------------
CASH, BEGINNING OF PERIOD                                                                     -                           -
                                                                           --------------------      ----------------------
CASH, END OF PERIOD                                                      $                  575    $                    575
                                                                           ====================      ======================
</TABLE>







   The accompanying notes are an integral part of these financial statements.

                                        6

<PAGE>



                             ASWAN INVESTMENTS, INC
              NOTES TO CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
                               September 30, 2000


1.  Basis of Presentation

The accompanying consolidated unaudited condensed financial statements have been
prepared by management in accordance  with the  instructions in Form 10-QSB and,
therefore,  do not include all information  and footnotes  required by generally
accepted  accounting  principles and should,  therefore,  be read in conjunction
with the Company's initial registration  statement on Form 10-SB, filed with the
Securities  and Exchange  Commission  on February 3, 2000.  These  statements do
include all normal recurring  adjustments  which the Company believes  necessary
for a fair presentation of the statements.  The interim  operations  results are
not  necessarily  indicative of the results for the full year ended December 31,
2000.

2.  Additional footnotes included by reference

Except as indicated in Notes above, there have been no other material changes in
the information  disclosed in the notes to the financial  statements included in
the  Company's  initial  registration  statement  on Form 10-SB,  filed with the
Securities  and  Exchange  Commission  on  February  3, 2000.  Therefore,  those
footnotes are included herein by reference.


                                        7

<PAGE>



ITEM 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Plan of Operations

The Company's plan of operation for the coming year is to identify and acquire a
favorable business  opportunity.  The Company does not plan to limit its options
to any particular  industry,  but will evaluate each  opportunity on its merits.
The  Company  anticipates  that its owners,  affiliates,  and  consultants  will
provide it with sufficient  capital to continue  operations until the end of the
fourth quarter of 2000, but there can be no assurance that this expectation will
be fully realized.

The  Company  does not  expect  to  generate  any  meaningful  revenue  or incur
operating  expenses  unless and until it acquires  an  interest in an  operating
company.

                                     PART II

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits Exhibits required to be attached by Item 601 of Regulation S-B are
     listed in the Index to  Exhibits  on page 10 of this Form  10-QSB,  and are
     incorporated herein by this reference.

(b)  Reports on Form 8-K.  No  reports on Form 8-K were filed  during the period
     covered by this Form 10- QSB.










                                        8

<PAGE>



                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed  on its  behalf  by the  undersigned,  hereunto  duly
authorized, this 9th day of November, 2000.




ASWAN INVESTMENTS, INC.



/s/  Ruairidh Campbell                                  November 9, 2000
---------------------------
Ruairidh Campbell
President and Director













                                        9

<PAGE>



                                                 INDEX TO EXHIBITS

EXHIBIT     PAGE
NO.         NO.     DESCRIPTION
-------     ----    -----------

3(i)        *       Articles  of  Incorporation  of  the  Company  (incorporated
                    herein by reference  from Exhibit No. 3(i) of the  Company's
                    Form  10-SB  as  filed  with  the  Securities  and  Exchange
                    Commission on February 3, 2000).

3(ii)       *       Bylaws of the Company,  as amended  (incorporated  herein by
                    reference  from Exhibit 3(ii) of the Company's Form 10-SB as
                    filed  with  the  Securities  and  Exchange   Commission  on
                    February 3, 2000).

27          11      Financial Data Schedule "CE"







                                       10

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