United States 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 March 31, 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 : 0-29509

                             TMI Holding Corporation
                 (Exact name of business issuer in its charter)

           Utah                                              82-0520055
State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)

2801 Brandt Avenue, Nampa, Idaho                             83687
(Address of principal executive offices)                     (Zip Code)

Issuer's telephone number: (208)-463-0063                    Fax: (208) 463-7601


--------------------------------------------------------------------------------
                                (Former Address)

The  number of  shares of common  stock  outstanding  as of March 31,  2000,  is
34,841,935.


         Transitional Small Business Disclosure Format. Yes ___, No X .



TMI Holding Corporation
10-QSB (Mar 31, 2000)                                                         1

<PAGE>

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

     The following financial statements are filed as part of this report:

     The Consolidated  Financial  Statements of the Company for the three months
ended  of  March  31,  2000,  reviewed  by  HJ &  Associates,  certified  public
accountants.

Item 2. Management's Discussion and Plan of Operation:

Results of Operations:

     Management of Environmental Oil Processing Technology,  Inc. (EOPT) focused
their  activity  in the  first  quarter  of year  2000 in  developing  operating
procedures for the oil refining plant,  testing the operating  parameters of the
plant,  exploring the adjustments  needed for producing  diesel and naphtha more
efficiently  and  in  general   experimenting  with  the  refinery.   Management
established  that the plant will operate at an efficiency  level of 85% or above
with respect to the  percentage of usable  product that can be produced from the
feed-oil,  and  established  a market for all of the product that the plant will
produce.  Management  is of the opinion that the plant will produce  "spec" fuel
for road use by vehicles,  whereas previously  marketing  estimates were made on
the basis of "off road" fuel which brought a lower price in the market. With the
potential of producing  "spec" fuel, the revenue  projections are  substantially
higher and Management is changing its operating plan from  sale-lease  plants to
other  customers  to  constructing   domestic  plants  for  company   operation.
Management  is  currently  exploring  and  developing a detailed  business  plan
incorporating the construction of both domestic company owned plants and leasing
plants to international customers.

     Operations  in the first  quarter  resulted in revenues from EOPT (sales of
used oil and some  production  from the  plant)  in the  amount of  $386,046  as
compared  with revenues of $70,090  during the first quarter of 1999.  Operating
losses by EOPT from the first  quarter  were  $535,045  which  when added to the
depreciation  and  amortization  losses,  brought  the  total  losses of EOPT to
$962,045.  Management  anticipates  that the  operating  results  for the second
quarter  will  continue  at  a  loss  because  of  the  continued   testing  and
modifications of the plant.

     The engineering subsidiary Project Development  Industries,  LLC, (PDI) had
revenues in the 1st quarter of $1,083,402  with  expenses of $1,132,465  with an
overall operating loss of $49,063.

     Management  anticipates  that  second  quarter  revenues  for EOPT  will be
reduced because of storing used oil for refining  purposes  (rather than selling
same) and that expenses will be reduced  because of fewer  modifications  in the
plant,  more  experienced  personnel  in operating  the plant and less  training
expense.  The second  quarter  revenues  for PDI are expected to be less with an
approximately same results of operations.

Funding and Capital Resources:

     Management  anticipates that additional capital will be required to sustain
operations  through  the 2nd and 3rd  quarters  which is  expected  to come from
Private  Placement  investors.   By  the  end  of  the  3rd  quarter  Management
anticipates  that  revenues  from  the  sale of  refinery  product  and from the
sale/lease  of  refining  plants  will  generate  the  revenues  for  profitable
operations and

TMI Holding Corporation
10-QSB (Mar 31, 2000)                                                         2

<PAGE>

continued   activity  of  EOPT.   Management  is  presently   investigating  and
negotiating  with  substantial  funding  sources to finance the  development and
fabrication of the refining plants for both domestic company operated operations
and the sale/lease of international facilities.

Plan of Operation:

     Management  presently plans to pursue the completion of what it believes to
be the last  modifications  of the  refining  pilot  plant in order to  commence
continuous refining operations and production of product during the 3rd quarter.
Concurrently,  PDI is presently  investigating  sites for constructing  domestic
company owned  facilities  and  Management is  continuing  negotiations  for the
sale/lease of facilities in other countries.  In addition, the refining capacity
of the pilot  plant is  approximately  double the  capacity  of the  present oil
collecting facilities, and Management has located sources and is negotiating the
purchase of additional used  lubricating oil for meeting the requirements of the
refining plant.

                           PART II - OTHER INFORMATION

Item 1.   Legal Proceedings. None

Item 2.   Changes in Securities. None

Item 3.   Defaults Upon Senior Securities. None

Item 4.   Submission of Matters to a Vote of Security Holders.

     A  majority  of the  shareholders  signed a  "Written  Consent"  which  was
effective  July 3, 2000, to amend the Articles of  Incorporation  of TMI Holding
Corporation (a) to change the name to "Environmental  Oil Processing  Technology
Corporation",  (b) to increase the authorized  capital of the  corporation  from
100,000,000 shares of no par common stock to 200,000,000 shares of no par common
stock,  and (c) to effect a forward 2 for 1 common stock split on all issued and
outstanding  shares of stock..  There were a total of  21,206,009  shares  (61%)
represented by the Written  Consent,  and notice of the action was mailed to the
remaining shareholders. Articles of Amendment were prepared and executed on July
14, 2000,  and have been  submitted to the  Department of Commerce,  Division of
Corporations for the State of Utah for filing.

Item 5.   Other Information. None


Item 6.   Exhibits and Reports on form 8-K.

          (a)  No exhibits

          (b)  No Form 8K filings


TMI Holding Corporation
10-QSB (Mar 31, 2000)                                                         3

<PAGE>

                                   SIGNATURES

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



                                           TMI Holding Corporation
                                           (Registrant)


Date: July 31, 2000                        By /s/
                                              ---------------------------------
                                              N. Tod Tripple, President and CEO




TMI Holding Corporation
10-QSB (Mar 31, 2000)                                                         4

<PAGE>

                             TMI HOLDING CORPORATION
                                AND SUBSIDIARIES

                        CONSOLIDATED FINANCIAL STATEMENTS

                      March 31, 2000 and December 31, 1999






<PAGE>

                            INDEPENDENT REVIEW REPORT



To the Board of Directors
TMI Holding Corporation and Subsidiaries
Nampa, Idaho

We have  reviewed the  accompanying  consolidated  balance  sheet of TMI Holding
Corporation and Subsidiaries (a development  stage company) as of March 31, 2000
and the related  consolidated  statements of  operations,  stockholders'  equity
(deficit)  and cash flows for the periods  ended March 31, 2000 and 1999.  These
consolidated  financial  statements  are  the  responsibility  of the  Company's
management.

We  conducted  our  reviews in  accordance  with  standards  established  by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data, and making  inquiries of persons  responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing  standards,  which will be performed
for the full year with the  objective of  expressing  an opinion  regarding  the
consolidated  financial  statements  taken  as a whole.  Accordingly,  we do not
express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the accompanying condensed consolidated financial statements referred
to above  for them to be in  conformity  with  accounting  principles  generally
accepted in the United States.

We have  previously  audited,  in accordance with auditing  standards  generally
accepted in the United  States,  the  consolidated  balance sheet of TMI Holding
Corporation and  Subsidiaries  (a development  stage company) as of December 31,
1999,  and the  consolidated  related  statements of  operations,  stockholders'
equity (deficit),  and cash flows for the year then ended (not presented herein)
and in our report dated March 30, 2000, we expressed an  unqualified  opinion on
those consolidated financial statements.




HJ & Associates, LLC
Salt Lake City, Utah
June 28, 2000



<PAGE>

                    TMI HOLDING CORPORATION AND SUBSIDIARIES
                                 Balance Sheets


                                     ASSETS

                                                       March 31,    December 31,
                                                         2000           1999
                                                     -----------    -----------
                                                     (Unaudited)
CURRENT ASSETS

   Cash                                              $   296,623    $   193,007
   Trade accounts receivable, less allowance for
     for doubtful accounts of $118,514 and $23,000,
     respectively                                        381,077        404,056
   Inventories                                             6,464          6,464
   Other current assets                                   10,628          9,541
                                                     -----------    -----------

     Total Current Assets                                694,792        613,068
                                                     -----------    -----------

PROPERTY, PLANT AND EQUIPMENT                          2,244,338      2,204,153
Less accumulated depreciation                           (284,424)      (198,954)
                                                     -----------    -----------

     Property, Plant and Equipment, Net                1,959,914      2,005,199
                                                     -----------    -----------

OTHER ASSETS

   Goodwill, net                                       3,196,130      3,284,912
                                                     -----------    -----------

     Total Other Assets                                3,196,130      3,284,912
                                                     -----------    -----------

     TOTAL ASSETS                                    $ 5,850,836    $ 5,903,179
                                                     ===========    ===========



<PAGE>

                    TMI HOLDING CORPORATION AND SUBSIDIARIES
                           Balance Sheets (Continued)

                      LIABILITIES AND STOCKHOLDERS' EQUITY

                                                     March 31,      December 31,
                                                       2000             1999
                                                   ------------    ------------
                                                   (Unaudited)
CURRENT LIABILITIES

   Current portion of notes payable                $     46,143    $     45,659
   Accounts payable                                     193,578         256,206
   Accrued expenses                                     556,368         443,654
   Line of credit                                       400,000         400,000
   Notes payable - related parties                    1,438,808         239,838
   Deferred revenue                                        --            21,457
                                                   ------------    ------------

     Total Current Liabilities                        2,634,897       1,406,814
                                                   ------------    ------------

LONG TERM DEBT

   Notes payable - related parties                         --           650,000
   Notes payable                                        101,413          99,407
                                                   ------------    ------------

     Total Long-Term Debt                               101,413         749,407
                                                   ------------    ------------

       Total Liabilities                              2,736,310       2,156,221
                                                   ------------    ------------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY

   Common stock, no par value; 100,000,000
    shares authorized; 34,841,935 shares issued
    and outstanding, respectively                    11,443,277      11,443,277
   Stock subscription receivable                       (400,000)       (400,000)
   Accumulated deficit                               (7,928,751)     (7,296,319)
                                                   ------------    ------------

     Total Stockholders' Equity                       3,114,526       3,746,958
                                                   ------------    ------------

     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY    $  5,850,836    $  5,903,179
                                                   ============    ============


<PAGE>

                    TMI HOLDING CORPORATION AND SUBSIDIARIES
                      Consolidated Statements of Operations
                                   (Unaudited)

                                                   For the Three Months Ended
                                                            March 31,
                                                 ------------------------------
                                                     2000              1999
                                                 ------------      ------------

NET SALES                                        $  1,469,448      $     70,090

COST OF GOODS SOLD                                       --              76,457
                                                 ------------      ------------

GROSS MARGIN (DEFICIT)                              1,469,448            (6,367)

SELLING, GENERAL AND
 ADMINISTRATIVE EXPENSES                            2,094,510            72,783
                                                 ------------      ------------

LOSS FROM OPERATIONS                                 (625,062)          (79,150)
                                                 ------------      ------------

OTHER INCOME (EXPENSE)

   Interest expense                                   (18,506)             --
   Interest income                                     11,136              --
                                                 ------------      ------------

     Total Other Income (Expense)                      (7,370)             --
                                                 ------------      ------------

INCOME TAX EXPENSE                                       --                --
                                                 ------------      ------------

NET LOSS                                         $   (632,432)     $    (79,150)
                                                 ============      ============

BASIC LOSS PER COMMON SHARE                      $      (0.02)     $      (0.01)
                                                 ============      ============

WEIGHTED AVERAGE SHARES OUTSTANDING                34,841,935        13,197,688
                                                 ============      ============



<PAGE>

                    TMI HOLDING CORPORATION AND SUBSIDIARIES
                 Consolidated Statements of Stockholders' Equity


<TABLE>
<CAPTION>
                                                        Common Stock                   Stock
                                               ------------------------------      Subscription      Accumulated       Stockholders'
                                                  Shares            Amount          Receivable         Deficit            Equity
                                               ------------      ------------      ------------      ------------      ------------

<S>                                              <C>             <C>               <C>               <C>               <C>
Balance, June 1, 1997                            13,197,688      $  1,858,973      $       --        $       --        $  1,858,973

Net loss for the year ended
 May 31, 1998                                          --                --                --          (1,040,340)       (1,040,340)
                                               ------------      ------------      ------------      ------------      ------------

Balance,
 May 31, 1998                                    13,197,688         1,858,973              --          (1,040,340)          818,633

Forgiveness of note payable
 as contribution of capital                            --             487,077              --                --             487,077

Common stock issued
 for cash                                        14,605,187           372,563              --                --             372,563

Net loss for the year ended
 May 31, 1999                                          --                --                --            (438,797)         (438,797)
                                               ------------      ------------      ------------      ------------      ------------

Balance,
 May 31, 1999                                    27,802,875         2,718,613              --          (1,479,137)        1,239,476

Purchase of subsidiary                            3,500,000         3,500,000              --                --           3,500,000

Common stock issued
 for cash                                         1,202,810         1,029,200          (400,000)             --             629,200

Common stock issued
 for services                                     3,996,064         3,996,064              --                --           3,996,064

Common stock issued
 for debt                                             4,000             4,000              --                --               4,000

Common stock issued
 for equipment                                      212,500           212,500              --                --             212,500

Common stock returned and
 canceled by officer                             (4,676,314)             --                --                --                --

Common stock issued in
 recapitalization                                 2,800,000              --                --                --                --

Stock offering costs                                   --             (17,100)             --                --             (17,100)

Net loss for the
 seven months ended
 December 31, 1999                                     --                --                --          (5,817,182)       (5,817,182)
                                               ------------      ------------      ------------      ------------      ------------

Balances,
 December 31, 1999                               34,841,935        11,443,277          (400,000)       (7,296,319)        3,746,958

Net loss for the three months
 ended March 31, 2000
 (unaudited)                                           --                --                --            (632,432)         (632,432)
                                               ------------      ------------      ------------      ------------      ------------

Balance, March 31, 2000
 (unaudited)                                     34,841,935      $ 11,443,277      $   (400,000)     $ (7,928,751)     $  3,111,526
                                               ============      ============      ============      ============      ============
</TABLE>


<PAGE>

                    TMI HOLDING CORPORATION AND SUBSIDIARIES
                      Consolidated Statements of Cash Flows
                                   (Unaudited)

                                                           For the Three Months
                                                              Ended March 31,
                                                          ---------------------
                                                             2000        1999
                                                          ---------   ---------

CASH FLOWS FROM OPERATING ACTIVITIES

   Net loss                                               $(632,432)  $(114,687)
   Adjustments to reconcile net loss to net cash
     used by operating activities:
     Depreciation and amortization                          174,252        --
   Changes in operating assets and liabilities:
     Accounts receivable                                     22,979      (4,000)
     Inventories                                               --       (22,193)
     Other assets                                            (1,087)       --
     Accounts payable and accrued expenses                   28,629      22,874
                                                          ---------   ---------

       Net Cash (Used) by Operating Activities             (407,659)   (118,006)
                                                          ---------   ---------

CASH FLOWS USED IN INVESTING ACTIVITIES

   Capital expenditures                                     (40,185)    (19,124)
                                                          ---------   ---------

       Net Cash Provided (Used) by Investing Activities     (40,185)    (19,124)
                                                          ---------   ---------

CASH FLOWS FROM FINANCING ACTIVITIES

   Borrowings from Company officer                          548,970     158,800
   Payments on long-term debt                                  --         6,648
   Proceeds from long-term debt                               2,490        --
                                                          ---------   ---------

       Net Cash Provided by Financing Activities            551,460     152,152
                                                          ---------   ---------

NET INCREASE IN CASH AND CASH
 EQUIVALENTS                                                103,616      15,023

CASH AND CASH EQUIVALENTS,
 BEGINNING OF PERIOD                                        193,007      31,044
                                                          ---------   ---------

CASH AND EQUIVALENTS, END OF PERIOD                       $ 296,623   $  46,067
                                                          =========   =========



<PAGE>

                    TMI HOLDING CORPORATION AND SUBSIDIARIES
                Consolidated Statements of Cash Flows (Continued)
                                   (Unaudited)



                                                          For the Three Months
                                                             Ended March 31,
                                                         -----------------------
                                                           2000            1999
                                                         -------         -------

SUPPLEMENTAL DISCLOSURE OF CASH FLOW
 INFORMATION:

   Cash paid for interest                                $18,506         $ --
   Cash paid for taxes                                   $  --           $ --

SUPPLEMENTAL DISCLOSURE OF
 NON-CASH FINANCING ACTIVITIES:

Year ended December 31, 1999:

   The  President  of the Company  forgave a $487,077  note  payable to him as a
   contribution of capital to the Company.

Seven months ended December 31, 1999:

   Purchase of subsidiary  for common stock valued at  $3,500,000.  Common stock
   issued for debt valued at $4,000. Common stock issued for equipment valued at
   $212,500.



<PAGE>

                    TMI HOLDING CORPORATION AND SUBSIDIARIES
                 Notes to the Consolidated Financial Statements
                      March 31, 2000 and December 31, 1999


NOTE 1 -  CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

          The accompanying  consolidated financial statements have been prepared
          by the  Company  without  audit.  In the  opinion of  management,  all
          adjustments   (which  include  only  normal   recurring   adjustments)
          necessary  to  present  fairly  the  financial  position,  results  of
          operations  and  cash  flows at  March  31,  2000 and 1999 and for all
          periods presented have been made.

          Certain  information  and footnote  disclosures  normally  included in
          consolidated   financial   statements   prepared  in  accordance  with
          generally  accepted  accounting  principles  have  been  condensed  or
          omitted. It is suggested that these condensed  consolidated  financial
          statements be read in  conjunction  with the financial  statements and
          notes  thereto  included in the  Company's  December  31, 1999 audited
          consolidated  financial statements.  The results of operations for the
          periods ended March 31, 2000 and 1999 are not  necessarily  indicative
          of the operating results for the full years.