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, 2002.

   [  ]       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 July 16, 2002 was 6,564,500.


<PAGE>



                                TABLE OF CONTENTS

                                     PART I

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

Unaudited Balance Sheet as of June 30, 2002....................................4

Unaudited Statement of Operations for the three and six months ended June 30,
2002 and 2001 and the period since Date of Inception to June 30, 2002..........5

Unaudited Statement of Cash Flows for the six months ended June 30, 2002 and
2001 and the period since Date of Inception to June 30, 2002...................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, 2002, 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, 2002
                                                                 June 30, 2002
                                                                  (unaudited)
                                                                    --------

ASSETS
      Current Assets - cash                                        $      35
                                                                    --------

            Total Assets                                                  35

                                                                    --------

LIABILITIES AND STOCK HOLDERS' EQUITY
      Current Liabilities:
                  Accounts Payable                                 $   6,077
                  Accounts Payable/Related Parties                     2,500
                                                                    --------
            Total Current Liabilities

                Total Current Liabilities                              8,577

  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, 2002         6,565
    Additional paid in capital                                         2,817
    Accumulated Deficit                                              (17,924)
                                                                    --------

                 Total stockholders' equity                           (8,542)
                                                                    --------

TOTAL LIABILITIES AND DEFICIT                                      $      35
                                                                    --------



    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, 2002 and 2001
                                       and
         For the period of Inception (December 7, 1999) to June 30, 2002
<TABLE>
<CAPTION>
                                                                                                              December 7,
                                                           Three Months             Three Months           1999 (inception)
                                                              Ended                    Ended                      to
                                                           June 30, 2002           June 30, 2001             June 30, 2001
                                                        ------------------       ------------------      ---------------------
<S>                                                 <C>                      <C>                      <C>
Revenues                                             $                   -    $                   -    $                     -
General and Administrative Costs                                       460                    2,662                     17,954
                                                        ------------------       ------------------      ---------------------
                                                                      (460)                  (2,662)                   (17,954)
Income Tax Expense                                                       -                        -                          -
                                                        ------------------       ------------------      ---------------------
Net Loss                                             $                (460)    $             (2,662)    $              (17,954)

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

Loss per common share - basic and diluted            $                0.00    $                0.00

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

Weighted average common shares - basic
and diluted                                                      6,564,500                6,563,000

                                                        ------------------       ------------------
</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, 2002 and 2001
<TABLE>
<CAPTION>
                                                                         Six Months                    Six Months
                                                                            Ended                        Ended
                                                                        June 30, 2002                June 30, 2001
                                                                    ---------------------         --------------------
<S>                                                           <C>                           <C>
Revenues                                                       $                        -    $                       -
General and Administrative Costs                                                    3,018                        2,942
                                                                    ---------------------         --------------------

Net Loss                                                       $                  (3,018)    $                 (2,942)

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

Loss per common share-basic and diluted                        $                     0.00    $                    0.00

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

Weighted average common shares - basic and diluted                              6,564,500                    6,563,000

</TABLE>

    The accompanying notes are an integral part of these financial statements

                                        6

<PAGE>







                             Aswan Investments, Inc.
                         (A Developmental Stage Company)
                       Unaudited Statements of Cash Flows
                 For The Six Months Ended June 30, 2002 and 2001
            and December 7, 1999 (Date of Inception) to June 30, 2002
<TABLE>
<CAPTION>
                                                                                                                  December 7,
                                                                          Six Months          Six Months             1999
                                                                            Ended               Ended           (inception) to
                                                                        June 30, 2002       June 30, 2001       June 30, 2002
                                                                      ------------------ -------------------- ------------------
<S>                                                                <C>                  <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES
    Net Loss                                                        $            (3,018)              (2,942)           (17,924)
    Adjustments to reconcile Net Loss to Net Cash provided
    by (used in) operations:
         Stock compensation expense                                                    -                    -              5,007
         Increase (decrease) in accounts payable and
         accrued expenses                                                          2,988                (530)              6,077
                                                                      ------------------ -------------------- ------------------
    Net cash provided by (used in ) Operating
    Activities                                                                      (30)              (3,472)            (6,840)
                                                                      ------------------ -------------------- ------------------

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                                                                              (30)                (472)                 35

CASH, BEGINNING OF PERIOD                                                             65                  571                  0

CASH, END OF PERIOD                                                 $                 35                   99                 35
                                                                      ================== ==================== ==================
</TABLE>



                                                          7

<PAGE>



                             ASWAN INVESTMENTS, INC
              NOTES TO CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS
                                  June 30, 2002

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 Form 10-KSB for the year ended December 31, 2001, filed with the
Securities and Exchange Commission. 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, 2002.

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 for the year ended December 31, 2001, filed with the
Securities and Exchange Commission. 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
current fiscal year, 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 2.           RECENT SALES OF UNREGISTERED SECURITIES

None.

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 16th day of July, 2002.




ASWAN INVESTMENTS, INC.



/s/ Ruairidh Campbell                                       July 16, 2002
-----------------------------------------------
Ruairidh Campbell
President, Chief Financial Officer, and Director                Date









                                       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, (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