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 September 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 : 0-29509

               Environmental Oil Processing Technology 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 June 30,  2001,  is
73,220,116.

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

Registrant  is  filing  Form  12b-25  with  reference  to  Item  1,   "Financial
Statements" and Item 2, "Management's  Discussion and Analysis", and accordingly
these items are omitted from this report.

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                         PART I - FINANCIAL INFORMATION

Item 1.           Financial Statements.

         Registrant has filed Form 12b-25 with reference to this Item.

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

         Registrant has filed Form 12b-25 with reference to this Item.


                           PART II - OTHER INFORMATION

Item 1.           Legal Proceedings.

         Project Development Industries, L.L.C., ("PDI") and several individuals
(prior owners of PDI) filed a federal  district court complaint  against EOPT on
September 14, 2001, in the United States  District  Court of Colorado,  Case No.
EDCV 01 WM-1714 in which  Plaintiffs  seek  declaratory  judgement,  injunction,
breach of Services Contract and unjust Enrichment.  In particular,  in August of
1999, EOPT and Plaintiffs  entered into a certain Share Purchase  Agreement that
was subsequently amended. Plaintiffs seek the Court to declare the legal meaning
and effect of certain provisions of that Agreement,  more particularly,  whether
Plaintiffs  can rescind the  Agreement,  receive  back the  ownership of PDI and
retain 7 million  shares of EOPT stock  issued for the  purchase  of PDI.  As to
other claims,  Plaintiffs  seek (a) an unstated amount of money for damages they
allegedly  incurred by EOPT's alleged breach of Services Contract  Agreement and
(b) attorney fees and costs of litigation. Denver office of counsel for EOPT has
filed with the Court a Motion for  Enlargement  of time to file EOPT's Answer to
the Complaint and Counterclaim.  EOPT has defenses and  counterclaims  available
which EOPT will actively pursue when it files the Answer and Counterclaim.

         On September 24, 2001,  EOPT filed a complaint  against LM Alternative,
Inc. ("LMA") in the United States District Curt, Central District of California,
Eastern Division, Case No. EDCV 01-0699 VAP (SGLx). EOPT seeks a money judgement
against  LMA.  EOPT  anticipates  that in addition  to filing an Answer  denying
EOPT's claims,  LMA will file a Counterclaim  seeking money damages against EOPT
for breach of contract. The case arises as a result of orders placed by EOPT for
electrical  generators,  and the  alleged  default  by  LMA.  The  parties  have
commenced a mediation  schedule and informal  exchange of discovery  with a view
towards a mutual  settlement  of their  opposing  claims.  If the  mediation  is
unsuccessful,  LMA will file its responsive  pleadings and the case will proceed
to trial.

Item 2.           Changes in Securities.             None

Item 3.           Defaults Upon Senior Securities.            None

Item 4.           Submission of Matters to a Vote of Security Holders.   None

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Item 5.           Other Information.

         On  October  3,  2001,  EOPT  entered  into a  contract  with PC&E as a
division of Emerson  (formerly  Emerson  Electric) for the design,  fabrication,
installation and start up of two oil processing plants for the Reno Project. The
engineering  of the  plants  is  currently  in  progress  and EOPT is  currently
negotiating  with  different  sources for the funding of the  fabrication of the
plants.  In  addition  on October 16,  2001,  EOPT  signed a contract  with REDD
Engineering for the  engineering  and fabrication of three new columns  designed
for production of diesel and naphtha which are to be used in the Nampa plant and
the two Reno Project  plants,  and for a redesign of the Nampa plant's  existing
column for  processing  trans-mix  as well as for a new  column  for  processing
trans-mix in one of the Reno Project plants. .

         EOPT  recently  received  the last of the  required  Federal  and State
permits and approvals for construction and operation of an electrical production
facility on the Reno Project.  These permits are the Federal  Energy  Regulatory
Commission's  ("FERC")  authorization  to sell energy at market based rates, the
Nevada Public Utility Commission Utility Environmental  Planning Act Permit, the
State of Nevada  Department of  Conservation  and Natural  Resources Air Quality
operating Permit, and the Storey County Special Use Permit.  EVOP has decided to
not pursue the production of  electricity at this time on the Reno Project,  and
is  presently  considering  the sale of that  portion of the Reno  Project  real
property  allocated  to  the  production  of  electricity,   which  consists  of
approximately 5 acres of the project.  The EOPT property is near the entrance to
the  Tahoe-Reno   Industrial   Center,  one  of  the  largest  industrial  zoned
developments in the United States.

         On Friday  November 9, 2001,  EOPT received the remaining  $4.5 Million
dollars of the $10.5  Million  dollar loan from a trust fund for the  proceeding
with the Reno Project.  With some of the funding, EOPT closed the escrow for the
purchase of  approximately  20.6 acres of property in the Tahoe-Reno  Industrial
Park. The  development  and completion of the two oil processing  plants for the
Reno Project is scheduled for completion in the latter part of 2002.

         Statements  in  this  report  that  are  not  strictly  historical  are
forward-looking   statements.  The  Company  makes  these  statements  based  on
information  available  to it as of the date of this  report  and it  assumes no
responsibility to update or revise such forward-looking statements.  Editors and
investors are cautioned that such  forward-looking  statements  involve risk and
uncertainties  that may cause the Company's actual results to differ  materially
from such forward- looking statements.

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

           (a)      No exhibits except at attached to the 8K report following.

           (b) 8K Reports were filed as follows:  Form 8-K-A dated August
28, 01 together with Exhibit 99.1 attached  thereto,  both of which are attached
hereto.

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                                   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.

               Environmental Oil Processing Technology Corporation
                                  (Registrant)


  Date: November 14,  2001          By  /s/ N. Tod Tripple
                                        -------------------
                                            N. Tod Tripple, President and CEO

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