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, 1998

     OR

[ ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from _________________ to __________________

                      Commission file number: 33-14707-NY


                              FREEDOM FUNDING, INC.
         ---------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


            Colorado                                            84-1047159
-------------------------------                           ----------------------
(State or other jurisdiction of                              (I.R.S. employer
 incorporation or organization)                           identification number)


    1143 Auraria Parkway, Unit 403A                                80204
--------------------------------------------------------------------------------
(Address of principal executive offices)                         (Zip Code)

Issuer's telephone number, including area code:    (303) 623-5091

Indicate by check mark whether the issuer (1) has filed all reports  required to
be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during
the  preceding 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   X    No
                                         -----    -----

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock,  as of the latest  practicable  date: As of April 20, 1998,  there
were approximately 8,301,300 shares outstanding.


                                                        

<PAGE>



I.  PART I -  FINANCIAL INFORMATION

Item 1.  Financial Statements


                              FREEDOM FUNDING, INC.
                          (a development stage company)

                                  BALANCE SHEET

                                                        March 31,  December 31,
                                                          1998         1997
                                                       ---------    ---------

CURRENT ASSETS:
     Cash                                              $    --      $    --

OTHER ASSETS:
     Organization Costs, net of amortization                --           --
                                                       ---------    ---------
     Total Assets                                           --           --
                                                       =========    =========

LIABILITIES AND STOCKHOLDERS' EQUITY:

Current Liabilities
     Trade Accounts payable                            $  54,421    $  54,421
                                                       ---------    ---------
         Total Liabilities                             $  54,421    $  52,421
                                                       =========    =========

Stockholders' Equity:
     Preferred stock, par value $.001
         per share.  Authorized 100,000,000
         shares; none issued 
     Common stock, $.0001 par value,
         per share.  Authorized 500,000,000
         shares; issued: 8,301,300                           830          830
     Additional paid-in capital                          124,910      124,910
     Accumulated deficit                                (180,161)    (180,161)
                                                       ---------    ---------

         Total Liabilities and Shareholders' Equity    $    --      $    --
                                                       =========    =========





                 See accompanying Notes to Financial Statements


                                        2

<PAGE>



                              FREEDOM FUNDING, INC.
                          (a development stage company)

                            STATEMENTS OF OPERATIONS

                                                   Three Months Ended March 31,
                                                   ----------------------------
                                                      1998              1997
                                                   ----------       -----------

Revenues                                           $      --        $      --

Costs and expenses
     Operational expenses                                 --             52,121
     Amortization                                         --               --

Net income (loss)                                         --            (52,121)

Net income (loss) per common share                          *                *

Weighted average number of
     common shares outstanding                       8,301,300        8,301,300

* Less than $.01 per share







                 See accompanying Notes to Financial Statements


                                        3

<PAGE>



                              FREEDOM FUNDING, INC.
                          (a development stage company)

                            STATEMENTS OF CASH FLOWS

                                                    Three Months Ended March 31,
                                                    ----------------------------
                                                        1998           1997
                                                    ------------   -------------
Operations:
     Net (loss)                                           --         $(52,151)
Items not requiring working capital:
     (Increase) decrease in organization costs            --             --
     Increase (decrease) in accounts payable              --           52,151
              Net cash from operations                    --             --

Financing:
     Sale of common stock                                 --             --
     Net cash from financing                              --             --
     Net increase (decrease) in cash                      --             --
     Cash at beginning of period                          --             --
     Cash at end of period                                --             --





                 See accompanying Notes to Financial Statements

                                        4

<PAGE>



                              FREEDOM FUNDING, INC.
                          (a development stage company)
                          Notes to Financial Statements
                                   (Unaudited)

In the opinion of management,  all adjustments  (consisting of normal  recurring
adjustments)  considered  necessary  for a fair  presentation  of the  financial
condition of registrant have been included,  and the disclosures are adequate to
make the information presented not misleading.

Note 1. A summary of significant  accounting  policies is currently on file with
the U.S.  Securities and Exchange Commission in registrant's Form S-18 effective
in 1987.

Note 2. The loss per share was  computed  by dividing  net loss by the  weighted
average number of shares of common stock outstanding during the period.

Note 3. Registrant has not declared or paid dividends on its common shares since
inception.

Note 4. The  accompanying  unaudited  condensed  financial  statements have been
prepared in accordance with the instructions to Form 10-Q and do not include all
information and footnotes required by generally accepted  accounting  principles
for complete financial statements.

Note 5. Income taxes have not been provided for in that registrant has not had a
tax liability from inception  through the date of this filing,  due to operating
losses.

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

Liquidity:  The  Company  has not  generated  any cash flows from  operating  or
investing  activities since inception.  Operating capital was primarily provided
from inception  through 1987 from the proceeds of an initial  funding prior to a
public offering and then from the public offering itself.  The proceeds of these
efforts  resulted in approximate  gross proceeds of $47,000 in cash and services
valued at $1,000.  An  additional  $77,140 in  operating  capital  was  provided
through the exercise of warrants in the final quarter of 1988,  all of which was
expended in the final quarter of 1988.

Results of Operations: The Company had no operations,  other than its search for
a business  opportunity,  from  inception  through 1988. In 1989,  these efforts
ceased due to lack of working  capital.  In 1997,  this  business plan was again
implemented  due to an  agreement  with Mr.  Mark S.  Pierce to  infuse  working
capital and services as needed up to the amount of $100,000.

                           PART II - OTHER INFORMATION

Item 1. Litigation:  No material legal  proceedings to which the Company (or any
officer or  director  of the  Company,  or any  affiliate  or owner of record or
beneficially  of more than five  percent of the Common  Stock,  to  management's
knowledge)  is a party or to which the  property  of the  Company  is subject is
pending and no such material proceeding is known by management of the Company to
be contemplated.

Item 2. Change in Securities: This item is not applicable to the Company for the
period covered by this report.

Item 3.  Defaults  Upon Senior  Securities:  This item is not  applicable to the
Company for the period covered by this report.

Item 4.  Submission  of Matters  to a Vote of  Security  Holders:  There were no
meetings of security  holders  during the period  covered by this report;  thus,
this item is not applicable.

Item 5. Other Information:  There is no additional information which the Company
is electing to report under this item at this time.


                                        5

<PAGE>


Item 6.  Exhibits  and Reports on Form S-K: No reports on Form 8-K were filed by
the Company during the period covered by this report.

                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  registrant  has duly  caused  this report to be signed on its
behalf by the  undersigned,  thereunto duly  authorized  this 18th day of April,
1997.

                                        FREEDOM FUNDING, INC.
                                        (Registrant)

                                        By: /s/ Mark S. Pierce
                                           -------------------------------------
                                           Mark S. Pierce, President and
                                           Chief Executive Officer


                                        By: /s/ Mark S. Pierce
                                           -------------------------------------
                                           Mark S. Pierce, Chief Financial
                                           and Accounting Officer and Treasurer


                                    * * * * *


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