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 June 30, 2001.

   [  ]  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 August 6, 2001 was 6,564,500.


<PAGE>



                                TABLE OF CONTENTS

                                     PART I

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

Unaudited Balance Sheet as of June 30, 2001....................................4

Unaudited Statement of Operations for the three and six months ended June 30,
2001 and 2000 and the period since Date of Inception to June 30, 2001..........5

Unaudited Statement of Cash Flows for the six months ended June 30, 2001 and
 2000 and the period since Date of Inception to June 30, 2001..................7

Notes to Unaudited Financial Statements........................................8

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.............9

                                     PART II

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K......................................9

SIGNATURES....................................................................10

INDEX TO EXHIBITS.............................................................11












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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, unless otherwise indicated. Unaudited interim financial statements
including a balance sheet for the Company as of June 30, 2001, statement of
operations, and statement of cash flows for the interim period up to the date of
such balance sheet, and comparable periods from the preceding year, and the
period since inception are attached hereto as Pages 4 through 7 and are
incorporated herein by this reference.









                 [THIS SPACE HAS BEEN LEFT BLANK INTENTIONALLY]






                                        3

<PAGE>





                             Aswan Investments, Inc.
                         (A Developmental Stage Company)
                             Unaudited Balance Sheet
                               As of June 30, 2001
                                                                  June 30, 2001
                                                                   (unaudited)
                                                            ----------------

ASSETS
      Current Assets - cash                               $               99
                                                            ----------------

            Total Assets                                                  99

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

LIABILITIES AND STOCK HOLDERS' EQUITY
      Current Liabilities:
                  Accounts Payable                        $            2,200
                  Accounts Payable/Related Parties                     2,500
                                                            ----------------
            Total Current Liabilities

                Total Current Liabilities                              4,700

      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;
                 6,564,500 shares issued and
                 outstanding June 30, 2001                             6,565
            Additional paid in capital                                 2,817
            Retained Earnings                                        (13,983)
                                                            ----------------

                 Total stockholders' equity                           (4,601)
                                                            ----------------

TOTAL LIABILITIES AND EQUITY                              $               99
                                                            ----------------

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


    The accompanying notes are an integral part of these financial statements




                                        4

<PAGE>






                             Aswan Investments, Inc.
                         (A Developmental Stage Company)
                       Unaudited Statements of Operations
                For the Three Months Ended June 30, 2001 and 2000
                                       and
         For the period of Inception (December 7, 1999) to June 30, 2001
<TABLE>
<CAPTION>
                                                                                         Three
                                                             Three Months               Months                December 7, 1999
                                                                 Ended                   Ended                 (inception) to
                                                             June 30, 2001           June 30, 2000             June 30, 2000
                                                          -------------------      -----------------       ----------------------
<S>                                                   <C>                      <C>                     <C>
Revenues                                               $                    -   $                  -    $                       -
General and Administrative Costs                                       (2,662)                  (400)                     (13,983)
                                                          -------------------      -----------------       ----------------------

Net Loss                                               $               (2,662)  $               (400)   $                 (13,983)
                                                          ===================      =================       ======================

Loss per common share-basic and diluted                $                    -   $                  -    $                       -
                                                          ===================      =================       ======================
Weighted average common shares basic and
diluted                                                             6,563,000              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 Operations
                 For the Six Months Ended June 30, 2001 and 2000
<TABLE>
<CAPTION>
                                                                         Six Months                    Six Months
                                                                            Ended                        Ended
                                                                        June 30, 2001                June 30, 2000
                                                                    ---------------------         --------------------
<S>                                                          <C>                            <C>
Revenues                                                      $                         -    $                       -
General and Administrative Costs                                                   (2,942)                      (7,357)
                                                                    ---------------------         --------------------

Net Loss                                                      $                    (2,942)   $                  (7,357)
                                                                    =====================         ====================

Loss per common share-basic and diluted                       $                         -    $                       -
                                                                    =====================         ====================

Weighted average common shares basic and diluted                                6,563,000                    5,740,000

</TABLE>



                                        6

<PAGE>







                             Aswan Investments, Inc.
                         (A Developmental Stage Company)
                       Unaudited Statements of Cash Flows
                 For The Six Months Ended June 30, 2001 and 2000
            and December 7, 1999 (Date of Inception) to June 30, 2001
<TABLE>
<CAPTION>
                                                                                                                  December 7,
                                                                          Six Months          Six Months             1999
                                                                            Ended           Ended June 30,      (inception) to
                                                                        June 30, 2001            2000           June 30, 2001
                                                                      ------------------ -------------------- ------------------
<S>                                                                <C>                  <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES
    Net Loss                                                        $            (2,942)               (7,357)           (13,983)
    Adjustments to reconcile Net Loss to Net Cash provided by (used in)
    operations:
         Stock compensation expense                                                    -                5,007              5,007
         Decrease in stock subscription receivable                                     -                  465         -
         Increase in accounts payable and accrued expenses                         (530)                2,420              2,200
                                                                      ------------------ -------------------- ------------------
    Net cash provided by (used in ) Operating
    Activities                                                                   (3,472)                  535             (6,776)
                                                                      ------------------ -------------------- ------------------

CASH FLOWS FROM INVESTING ACTIVITIES                                                   -                    -                  -
                                                                      ------------------ -------------------- ------------------

CASH FLOWS FROM FINANCING ACTIVITIES
    Increase in related party receivables                                              -                    -              2,500
    Decrease in Stock subscription receivable                                          -                    -                465
    Issuance of common stock for cash                                             3,000                     -              3,910
                                                                      ------------------ -------------------- ------------------
Net cash provided by Financing Activities                                         3,000                     -              6,875
                                                                                                            -
NET CASH INCREASE (DECREASE) FOR
PERIOD                                                                             (472)                  535                 99

CASH, BEGINNING OF PERIOD                                                           571                     -                  -

CASH, END OF PERIOD                                                 $                99                   535                 99
                                                                      ================== ==================== ==================
</TABLE>



                                        7

<PAGE>



                             ASWAN INVESTMENTS, INC
              NOTES TO CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
                                  June 30, 2001


1.  Basis of Presentation

The accompanying 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 financial statements filed on Form 10-KSB, filed with the Securities
and Exchange Commission on April 2, 2001. 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, 2001.

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 Form 10-KSB, filed with the Securities and Exchange Commission on
April 2, 2001. Therefore, those footnotes are included herein by reference.


                                        8

<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
year of 2001, 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.











                                        9

<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 13th day of August, 2001.




ASWAN INVESTMENTS, INC.



     s/ Ruairidh Campbell                            August 13 2001
--------------------------------------
Ruairidh Campbell
President and Director










                                       10

<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).









                                       11