SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                                   (Mark One)

[ X ]QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934

                   For the quarterly period ended May 31, 2001

                                       OR

  [   ] TRANSITION REPORT UNDER SECTION 13 OF 15(D) OF THE EXCHANGE ACT OF 1934

          From the transition period from ___________ to ____________.

                          Commission File Number 294339
                                                 ------


                            TWISTEE TREAT CORPORATION
                            -------------------------
        (Exact name of small business issuer as specified in its charter)

                               Delaware 43-1796315
                               -------------------
    (State or other jurisdiction of incorporation or organization)(IRS Employer
                               Identification No.)


           228 West 4th Street, Suite 227, Kansas City, Missouri 64105
           -----------------------------------------------------------
                    (Address of principal executive offices)

                                  (816) 842-1116
                                  --------------
                           (Issuer's telephone number)

                                      N/A
                                      ---
   (Former name, former address and former fiscal year, if changed since last
                                    report)

     Indicate  by  check  mark  whether  the  registrant  (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:

                                 [X] Yes [ ] No

As  of  July  11,  2001  19,519,950  shares  of  Common Stock of the issuer were
outstanding.


<PAGE>
                            TWISTEE TREE CORPORATION
                                  FORM 10-QSB

                                      INDEX

                                     PART I


Item 1.      Financial Statements                                            F-3

Item 2.      Management's Discussion and Analysis of Financial
             Condition and Results of Operations                             F-7

                                    PART II

Item 1.      Legal Proceedings                                               F-9

Item 6.      Exhibits and Reports on Form 8-K                               F-10

             Signatures                                                     F-10


                                      F-2
<PAGE>
<TABLE>
<CAPTION>
                         PART I.  FINANCIAL INFORMATION

ITEM  1.  FINANCIAL  STATEMENTS

                                      TWISTEE TREAT CORPORATION
                                      CONDENSED BALANCE SHEET


                                                                              MAY 31,      NOVEMBER 30,
                                                                                2001           2000
                                                                            ------------  --------------
                                                                             (UNAUDITED)
<S>                                                                         <C>           <C>
ASSETS

Current assets:
  Notes receivable - trade                                                  $    21,234   $       7,500
  Inventory                                                                      28,947          26,375
                                                                            ------------  --------------
    Total current assets                                                         50,181          33,875

Property and equipment, net                                                     214,935         228,008
Inventory - long-term                                                           149,670         149,670
Funds advanced with letter of intent                                             50,000          50,000
Other receivable                                                                 28,766          50,000
Other                                                                             1,150           1,150
                                                                            ------------  --------------
                                                                            $   494,702   $     512,703
                                                                            ============  ==============


                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current liabilities:
  Accounts payable and accrued liabilities                                  $   256,040   $     172,031
  Notes payable                                                                 198,057         156,659
  Compensation payable                                                           82,097          68,596
  Deferred revenue                                                               20,000          20,000
                                                                            ------------  --------------
    Total current liabilities                                                   556,194         417,286
                                                                            ------------  --------------

Stockholders' equity (deficit):
  Preferred stock, $.0001 par value, 10,000,000 shares authorized:
    none issued and outstanding                                                       -               -
  Common stock, $.0001 par value, 50,000,000 shares
    authorized:  19,723,200 and 19,589,950 shares issued and outstanding:         1,972           1,959
  Additional paid-in capital                                                  3,545,052       3,480,737
  Accumulated deficit                                                        (3,433,516)     (3,162,279)
                                                                            ------------  --------------
                                                                                113,508         320,417
  Less: subscriptions receivable                                               (175,000)       (225,000)
                                                                            ------------  --------------
    Total stockholders' equity (deficit)                                        (61,492)         95,417
                                                                            ------------  --------------
                                                                            $   494,702   $     512,703
                                                                            ============  ==============
</TABLE>

        See accompanying notes to interim condensed financial statements.


                                      F-3
<PAGE>
<TABLE>
<CAPTION>
                                   TWISTEE TREAT CORPORATION
                               CONDENSED STATEMENT OF OPERATIONS
                                          (UNAUDITED)

                                              THREE MONTHS ENDED
                                                    MAY 31,           SIX MONTHS ENDED MAY 31,
                                              2001         2000          2001         2000
                                          ------------  -----------  ------------  -----------
<S>                                       <C>           <C>          <C>           <C>
Net sales                                 $     1,859   $   75,953   $     8,690   $  101,294
Cost of sales                                   1,087       22,986         9,532       32,163
                                          ------------  -----------  ------------  -----------
Gross profit (loss)                               772       52,967          (842)      69,131

Operating expenses:
  Payroll and contractual expense              14,330       31,149        81,198       72,665
  Depreciation and amortization expense             -       20,852        13,072       38,921
  Consulting expense                            2,799       12,600        20,627       16,200
  Legal and professional fees                  67,142      155,094        70,792      155,094
  Other general and administrative             29,410       64,561        77,351      106,546
                                          ------------  -----------  ------------  -----------
                                              113,681      284,256       263,040      389,426
                                          ------------  -----------  ------------  -----------

Loss from operations                         (112,909)    (231,289)     (263,882)    (320,295)

Other income (expense):
  Interest income                                  22          774           147        1,250
  Interest expense                                  -      (12,000)       (7,500)     (19,350)
  Other income (expense)                            -            -             -          794
                                          ------------  -----------  ------------  -----------
                                                   22      (11,226)       (7,353)     (17,306)
                                          ------------  -----------  ------------  -----------

Net loss                                  $  (112,887)  $ (242,515)  $  (271,235)  $ (337,601)
                                          ============  ===========  ============  ===========

Basic and diluted loss per common share   $      0.01   $     0.02   $      0.01   $     0.04
                                          ============  ===========  ============  ===========

Weighted average shares outstanding        19,529,950    9,747,728    19,552,159    8,313,839
                                          ============  ===========  ============  ===========
</TABLE>

        See accompanying notes to interim condensed financial statements.


                                      F-4
<PAGE>
<TABLE>
<CAPTION>
                             TWISTEE TREAT CORPORATION
                         CONDENSED STATEMENT OF CASH FLOWS
                                    (UNAUDITED)

                                                            SIX MONTHS ENDED MAY 31,
                                                            ------------------------
                                                                2001        2000
                                                             ======================
<S>                                                          <C>         <C>

Cash flows from operating activities:
  Net loss                                                   $(271,235)  $(337,601)
    Adjustments to reconcile net income to net cash
      provided by (used in) operating activities:
    Depreciation and amortization                               13,073      38,921
    Stock issued to consultants                                  9,315       6,250
  Changes in operating assets and liabilities
    Accounts receivable                                              -      (6,000)
    Notes and other receivable                                   7,500     (55,500)
    Inventory                                                   (2,572)   (143,270)
    Accounts payable and accrued expenses                       97,508     (46,692)
                                                             ----------  ----------
      Net cash provided by (used in) operating activities     (146,411)   (543,892)
                                                             ----------  ----------

Cash flows from investing activities:
                                                             ----------  ----------
  Purchase of equipment                                              -     (73,327)
                                                             ----------  ----------

Cash flows from financing activities:
  Net proceeds (payments) on notes payable                      41,398    (141,187)
  Proceeds from sale of common stock                           105,013     750,000
                                                             ----------  ----------
      Net cash provided by financing activities                146,411     608,813
                                                             ----------  ----------

Net increase (decrease) in cash and cash equivalents                 -      (8,406)
Cash and cash equivalents at beginning of period                     -      84,921
                                                             ----------  ----------
Cash and cash equivalents at end of period                   $       -   $  76,515
                                                             ==========  ==========

Cash paid for:
  Interest                                                   $       -   $   7,350
</TABLE>

        See accompanying notes to interim condensed financial statements.


                                      F-5
<PAGE>
                            TWISTEE TREAT CORPORATION
                 NOTES TO INTERIM CONDENSED FINANCIAL STATEMENTS
                                  MAY 31, 2001


Note  1: Presentation

The  condensed  balance  sheet  of  the  Company as of May 31, 2001, the related
condensed  statements  of  operations for the three and six months ended May 31,
2001  and 2000 and the statements of cash flows for the six months ended May 31,
2001  and 2000 included in the condensed financial statements have been prepared
by  the  Company  without audit.  In the opinion of management, the accompanying
condensed  financial  statements  include all adjustments (consisting of normal,
recurring  adjustments)  necessary  to  summarize fairly the Company's financial
position  and  results  of  operations.  The  results  of operations for the six
months  ended  May  31,  2001  are  not necessarily indicative of the results of
operations  for  the  full  year  or  any other interim period.  The information
included  in  this  Form  10-QSB should be read in conjunction with Management's
Discussion  and  Analysis and Financial Statements and notes thereto included in
the  Twistee  Treat  Corporation's  November  30,  2000  Form  10-KSB.

Note  2:  Letter  of  Intent

In  November 2000, the Company entered into a letter of intent with an unrelated
corporation  whereby  the  Company  offered to purchase either the corporation's
stock  for  $1,600,000  or  its  assets  for $2,100,000.  In connection with the
letter  of  intent,  the  Company issued a check for $50,000 as a deposit on the
purchase  price.  The check is valid upon the signing of the letter of intent by
the  seller.  The  letter  has  not  been signed as of the date of the financial
statements  and  by  the  letter's  terms will remain open until September 2001.


                                      F-6
<PAGE>
ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS

THIS  REPORT  CONTAINS  FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF SECTION
27A  OF THE SECURITIES ACT OF 1933, AS AMENDED AND SECTION 21E OF THE SECURITIES
EXCHANGE  ACT  OF  1934,  AS  AMENDED. THE COMPANY'S ACTUAL RESULTS COULD DIFFER
MATERIALLY FROM THOSE SET FORTH ON THE FORWARD LOOKING STATEMENTS AS A RESULT OF
THE  RISKS  SET  FORTH IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION,  GENERAL ECONOMIC CONDITIONS, AND CHANGES IN THE ASSUMPTIONS USED IN
MAKING  SUCH  FORWARD  LOOKING  STATEMENTS.

GENERAL  OVERVIEW

Twistee Treat Corporation ("we" or, the "Company"), was incorporated in Missouri
on  April  27,  1995  and re-domiciled in Delaware in June 1997.  We operate and
franchise  soft-serve  ice  cream  desserts and an assortment of other foods and
beverages  in  its  proprietary  cone-shaped buildings and kiosks.  Incorporated
under  the  laws  of Missouri in 1997, the Company re-domiciled by merger into a
Delaware  corporation  in  June of 1999 with the name Twistee Treat Corporation.

Twistee Treat offers specialty ice cream and food products through company owned
stores,  franchised  stores,  in-line  stores,  kiosk  units,  mobile concession
trailers and "Express Grills."  We are designed to be a high profile, soft-serve
ice  cream  retail  merchant.

In  1998,  Stephen  Wells,  formerly  the  President  of  the  Company's largest
franchisee  (Twistee  Treat  of  the  Southeast, Inc.), became the President and
Chief  Executive  Officer  of  the  Company.  Mr.  Wells  continued  the testing
program,  begun  in  1999, of the Company's "Express Grill" unit, a full-service
restaurant  loosely based on the design of the Brazier units operating by "Dairy
Queen."  Management  still  believes that the "Express Grill" unit will help the
Company  expand  its  business,  offering  a  broader  menu  and  inside seating
capability.  A  more  detailed description of the Company's history may be found
in  the  Company's  latest  annual  report  (10-KSB),  which  was  filed  on
March  15,  2001,  and  is  accessible on the Internet at: www.edgar-online.com.

RESULTS  OF  OPERATIONS

THREE  MONTHS AND SIX MONTHS ENDED MAY 31, 2001 COMPARED TO THREE MONTHS AND SIX
MONTHS  ENDED  MAY  31,  2000

Net sales for the three months ended May 31, 2001 decreased by $74,094 to $1,859
from $75,953 for the corresponding period of the prior year due to the Company's
lack  of  emphasis  on  the sale of its current products.  The Company is in the
process  of  re-determining  its product line and has not focused on the sale of
franchises  or its current line of ice cream products.  For the six months ended
May  31,  2001  revenues  decreased  $92,604 to $8,690 from $101,294 for the six
months  ended  May  31,  2000.

The  Company  experienced  a  decrease in the cost of sales for the three months
ended  May  31,  2001, which was $1,087 as compared to the cost of sales for the
same  period  ended  May  31, 2000, which was $22,986. Management attributes the
decrease  in  cost of sales for the three months ended February 28, 2001, to the
reason  discussed  above.  For  the  six months ended May 31, 2001 cost of sales
decreased  $22,631 to $9,532 from $32,163 for the six months ended May 31, 2000.

Operating expenses for the three months ended May 31, 2001 decreased by $170,575
or 60% to $113,681 from $284,256 for the corresponding period of the prior year.
The  decrease  is attributable to the Company significantly reducing operations.
For  the  six  month  period  ending  May  31, 2001 operating expenses decreased
$126,386  or  32%  to $263,040 from $389,426 for the corresponding period of the
prior  year. The decrease is attributable to a decrease in professional fees and
other  general  expenses.

Net loss for the three months ended May 31, 2001 decreased by $129,628 to a loss
of  $112,887  from a loss of  $242,515 for the corresponding period of the prior
year.  For  the  three  months  ended  May 31, 2001 and 2000 the Company did not
record  a  tax  benefit.  For  the  nine months ended May 31, 2001, the net loss
decreased  $66,366  to  a  loss  of $271,235 from a net loss of $337,601 for the
corresponding  period  of  the previous year. The Company's did not record a tax
benefit  for  the  nine  months  ended  May  31,  2001  and  2000.


                                      F-7
<PAGE>
LIQUIDITY  AND  CAPITAL  RESOURCES

At  May  31,  2001  the  Company had negative working capital of $506,013.  This
compares  with  working  capital  of  $70,845  including cash of $76,515 for the
corresponding  period  of  the  prior  year.

For  the  six  months  ended  May  31, 2001 cash used in operations decreased to
$146,411  from  cash used in operations of $543,892 for the corresponding period
of  the  prior  year.

For  the  six  months  ended  May  31,  2001 there was no cash used in investing
activities compared to $73,327 for the corresponding period of the prior year as
the  company  has  reduced  its  operations and correspondingly its purchases of
property  and  equipment.

Net  cash  provided by financing activities decreased to $146,411 from $608,813.
The  Company  received  $105,000  from  the sale of its common stock for the six
months  ended  May 31, 2001.  The Company received $750,000 from the sale of its
common  stock  for  the six months ended May 31, 2000.  The Company used part of
those  proceeds  to  pay  down  notes  payable.

The  Company  has  no credit line or other bank debt, and has generated its cash
for  operations  from  internally  generated revenues and the sale of its common
stock.  At  May  31, 2001, the Company had a stockholders' deficit of $61,492, a
decrease of approximately 164% from the $95,417 of stockholders' equity existing
at  November  30,  2000.

As  reflected  in the accompanying financial statements and at May 31, 2001, the
Company has a working capital deficit of $506,013 and a net loss from operations
of $263,882 for the six months ended May 31, 2001.  The Company's operations are
not sufficient to finance its growth.  The ability of the Company to continue as
a  going  concern  is dependent upon its ability to raise additional capital and
implement  its  business  plan.  The Company anticipates issuing additional debt
and equity securities and reducing operating overhead.  Management believes that
actions  presently  taken to improve its future operations and obtain additional
funding  provide the opportunity for the Company to continue as a going concern.

FACTORS  THAT  MAY  AFFECT  FUTURE  RESULTS

Dependence  on  Independent  Franchisees  and  Licensors: The Company receives a
significant amount of its total revenues from the sale of franchise, license and
regional development rights to independent persons who desire to operate Twistee
Treat franchises in the United States and in Canada.  The ability of the Company
to  continue  to  generate  revenue  from  these  activities,  and  to  grow its
franchising  and  licensing  business  in  the  future,  is  dependent  upon the
willingness  of  independent  persons to become franchisees and licensees of the
Company.  The  decision  whether or not to become a franchisee or license of the
Company  can  be effected by a number of variables, many of which are outside of
the  Company's  control.  Some  of  these  variables  include  general  market
conditions,  regulatory burdens, the cost of raw supplies and materials, and the
receptiveness  of  the  general  public to the Company's particular products and
proprietary  buildings and retail unit.  If the Company were unable successfully
to  market  and  sell  its  franchise  and  license  rights to persons who would
independently  own  and  operate  Twistee  Treat  franchises, the ability of the
Company  to continue would be severely impacted.  While the Company does own and
operate certain retail sales outlets of its own, the majority of its business is
accounted  for  through  the sale of franchise, regional development and license
rights  to  independent  third  parties.

Competition:  The  frozen  desert market is highly competitive, and distinctions
between  categories  of frozen deserts (particularly with respect to the premium
or  quality  nature  of  various  frozen desert products) are becoming much less
marked than in the past.  The success of the Company depends upon its ability to
continue  to  create  and  market  innovative  products,  flavors,  distribution
channels  and  retail  units  through  which it can sell its product directly or
through  the  independent  franchisees  and  licensees who operate Twistee Treat
locations.  If  the  Company  is unable to compete effectively against other ice
cream  and  frozen  desert  manufacturers, as well as other food specialty shops
which compete for space at malls and other venues, it will be unable to continue
marketing  its  franchises  and license rights, or to maintain its own corporate
locations,  for  the  sale of Twistee Treat products.  The inability to sell its
products  effectively  would  have a materially adverse effect upon the business
and  operations  of  the  Company.


                                      F-8
<PAGE>
Dairy commodity costs are volatile: It is possible that at some future date both
gross  margins  and  earnings  may  not  be  adequately  protected  by  pricing
adjustments,  cost  control programs and productivity gains.  To the extent that
the  Company  is  unable  to  effectively  predict,  and take actions to protect
against,  significant  increases  in  the  raw  materials it uses to produce its
frozen desert products, it could have a materially adverse impact on its ability
to  sell  such  products  to  its  franchisees  and  licensees,  or to recognize
sufficient  margins  from  sales  to  make  the  business  economically  viable.

Dependence  Upon External Financing:  The Company has been building its business
through  revenues  generated  from  operations,  supplemented by the sale of its
capital common stock.  The ability of the Company to continue to grow and expand
its  business is highly dependent upon the ability of the Company to continue to
raise external financing, from the sale of equity and/or the incurrence of debt.
If  the  Company  were  unable to obtain debt and/or equity financing upon terms
that  were  sufficiently  favorable  to  the Company, or at all, it would have a
materially  adverse impact upon the ability of the Company to continue to expand
its  business  and  operations,  or  to  implement  its  business  plan  as  now
contemplated  by  the  Company.

Reliance on Key Management:  The success of the Company is highly dependent upon
the continued services of Stephen Wells, its President and CEO, who has been the
primary  person  responsible  for  building  the  Company's  renewed  franchise,
regional  development  and  licensing  business.  If Mr. Wells were to leave the
Company,  it  could  have  a  materially  adverse  effect  upon the business and
operations  of  the  Company.

OTHER  INFORMATION

ITEM  1:  Legal  Proceedings

We  are  not  involved  in  any  material  pending legal proceedings, other than
routine  litigation  incidental  to  our business, to which we are a party or of
which  any  of  our  property  is  subject.


                                      F-9
<PAGE>
PART  II  -  OTHER  INFORMATION

Item  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

          a)   Exhibits
          27.1  Financial  Data  Schedule

          b)   Reports  on  Form  8-K

          (i)  Report  on  Form  8-K  dated  July  11,  2001,  announcing  the
               appointment of Malone & Bailey, PLLC as the Company's independent
               accountants  for  the  year  ending  November  30,  2001.



                                      SIGNATURES

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


                                         TWISTEE  TREAT  CORPORATION

Date:  July  11,  2001                   By:
                                            -------------------------------
                                              /s/  Stephen  Wells
                                              President


                                      F-10
<PAGE>