U.S. Securities and Exchange Commission
                          Washington, D.C. 20549


                               Form 10-QSB

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

               For The Fiscal Quarter Ended March 31, 2001
                                      Or

[   ] TRANSITION REPORT UNDER SECTION 13 0R 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

        For the transition period from __________ to ___________


                     Commission file number:  0-28811


                       LUDLUM CONSTRUCTION CO., INC.
    (Exact Name of Small Business Issuer as specified in its charter)


            FLORIDA                                59-1413673
(State or other jurisdiction of   (I.R.S. Employer Identification No.)
incorporation or organization)


    10 S.E. Central Parkway, Ste. 225
           Stuart, Florida                           91316
 (Address of principal executive offices)         (Zip Code)

                            (772) 283 -4490
                       Issuer's telephone Number

Indicate by check mark whether the registrant (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 [ ]

Number of shares outstanding of each of the issuer's classes of
common equity:

As of March 31, 2001, the Company had a total of 3,711,000 shares
of Class B Common Stock, par value $.01 per share (the
"Common Stock"), outstanding and had no shares of Class A
Common Stock outstanding.

Transitional Small Business Disclosure Format:  Yes [ ]   No [X]


                             INDEX


PART I

Item 1.  Financial Statements
Item 2.  Management's Discussion and Analysis of
           Financial Condition and Results of Operations
Item 10. Legal Proceedings

PART II


Item 2. Changes in Securities
Item 6. Exhibits and Reports on Form 8-K

SIGNATURES


PART I

ITEM 1.  FINANCIAL STATEMENTS

The financial report filed December 31, 2000 was the last financial
information that was available from the accounting firm of Holyfield
Associates. P.A.

In view of the lack of response at this date, 2004, it is necessary
for us to approach the bookkeepers and certain clerical staff who
are no longer employed by Ludlum to obtain any notes that were
available.  Therefore, in the order of sequence, and the fact
that we are filing this at this late date to bring it up to date,
there are no new financials for this quarter, so that the last
reported financials were December 31, 2000.

Note 1, Basis of Presentation

The unaudited, condensed and consolidated financial statements
included herein have been prepared in accordance with the
requirements of Regulation S-B. Any supplementary financial
information included herein has been prepared in accordance
with Item 310(b) of Regulation S-B and, therefore may omit or
condense certain footnotes and other information usually included
in financial statements prepared in accordance with Generally
Accepted Accounting Principles. In the opinion of management,
all adjustments (consisting only of normal recurring accruals)
necessary for a fair presentation of the financial information
for the interim periods reported have been made.

Certain reclassifications have been made to the 1999 financial
information to conform to the presentations made in 2001.
Results of operations for the three months ended March 31, 2001,
are not necessarily indicative of the results that may be expected
for the year ending December 31, 2001. These financial statements
should be read in conjunction with the company's Form 10-SB as
originally filed with the Securities and Exchange Commission on
January 7, 2000 and Form 10-SB 12 G/A filed with the Securities
and Exchange Commission on August 17, 2000.

Note 2, Earnings Per Share

The Company follows the provisions of SFAS No. 128, "Earnings Per
Share," which requires presentation of basis earnings per share
including only outstanding common stock, and diluted earnings per
share including the effect of dilutive common stock equivalents.
The Company's basic and diluted earnings per share for all periods
presented are the same.

Note 3, Income Taxes

The Company follows the provisions of SFAS No. 109, "Accounting for
Income Taxes." In accordance with this statement, the Company records
a valuation allowance so that the deferred tax asset balance reflects
the estimated amount of deferred tax assets that may be realized.
Therefore, the deferred tax assets generated by the net losses in
the periods presented have been offset in their entirety by a deferred
tax asset valuation allowance.


                  LUDLUM CONSTRUCTION CO., INC BALANCE SHEETS
                          (as of December 31, 2000)

                                           1999            1998
                                      -----------     -----------
                       ASSETS

CURRENT ASSETS
   Cash and cash equivalents          $    13,483     $     3,251
   Contract receivables                   532,283         408,933
   Costs and estimated earnings in
      excess of billings on
      uncompleted contracts               133,523         128,894
                                       -----------     -----------
                                          679,289         541,078

PROPERTY AND EQUIPMENT
   Construction and office equipment    3,915,569       4,312,476
   Accumulated depreciation            (1,717,872)     (1,386,799)
                                      -----------     -----------
                                        2,197,697       2,925,677
OTHER ASSETS
   Notes receivable, net of
   $23,932 allowance                       37,784          66,332
   Deposits and prepaid expenses              418           3,738
                                      -----------     -----------
   Total assets                       $ 2,915,188     $ 3,536,825



LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
   Current portion of notes payable      $426,829        $844,433
   Short term debt                        408,375         381,195
   Due to stockholders                    451,886         173,093
   Accounts payable and accrued expenses  600,563         569,067
   Billings in excess of costs and
     estimated earnings on uncompleted
     contracts                             10,025
                                      -----------     -----------
                                        1,887,653       1,977,813
NON-CURRENT LIABILITIES
   Long term portion of notes payable     879,550       1,185,907
                                      -----------     -----------
TOTAL LIABILITIES                       2,767,203       3,163,720


STOCKHOLDERS' EQUITY
   Common stock, Class A, $.01 par value,
      1 share authorized, none issued and
      outstanding in 1998 and 1999
   Common stock, Class B, $.01 par value,
      9,999,999 shares authorized,
      3,711,000 and 3,703,000 shares
      issued and outstanding               37,110          37,030
   Additional paid in capital             972,830         952,910
   Retained earnings (deficit)           (861,955)       (616,835)
                                      -----------     -----------
                                          147,985         373,105


Total liabilities and stockholders'
equity                               $  2,915,188     $ 3,536,825
                                     ============     ===========

The accompanying notes and accountant's report should be read with
these financial statements.



                LUDLUM CONSTRUCTION CO., INC.
                 STATEMENTS OF OPERATIONS
                                    For the years ended December 31,
                                         1999              1998
                                      -----------     -----------
Contract revenues earned            $ 3,942,935       $ 4,390,049

Cost of revenues earned               3,339,152         4,226,536
                                      -----------     -----------
        Gross profit                    603,783           163,513

General and administrative expenses     553,054         1,037,180
                                      -----------     -----------
        Income (loss) from operations    50,729          (873,667)

Other income (expense)
   Investment income                      21,697           21,290
   Gain (loss) on dispostion of assets   (24,487)          21,798
   Interest expense                     (293,059)        (286,031)
                                      -----------     -----------

        Income (loss) before income
        taxes                           (245,120)      (1,116,610)
                                      -----------     -----------
   Provision for income taxes (credit)                   (212,256)
                                      -----------     -----------
        Net income (loss)            $  (245,120)     $  (904,354)
                                     ============     ============

Basic and diluted earnings
(loss) per share:
   Net income (loss) per share            ($.07)           ($.23)
                                          ======           ======
The accompanying notes and accountant's report should be read
with these financial statements.

LUDLUM CONSTRUCTION CO., INC. STATEMENTS OF STOCKHOLDERS' EQUITY
(for the years ended December 31, 1999 and 1998)

                 Common Stock Shares   Additional
                                        Paid-in    Retained
                Cl. A Class B  Amount   Capital    Earnings   Total
                ----- -------  ------- --------- ---------- --------
Bal., 1/1/98      1  5,078,125 $50,781 $475,250  $287,519  $813,551

Sale of 1,218,750
shrs of Class        1,218,750  12,187   35,813    48,000
B common

Redemption of
stock           (1) (3,046,875) (30,468)(405,896)          (436,365)

Issuance 100,000
shrs of Class B
common for
consulting services    100,000    1,000    6,273              7,273

Sale of 353,000 shrs   353,000    3,530  841,470            845,000
of Class B Common

Net loss, 1998                                   (904,354) (904,354)
                ----- -------  ------- --------- ---------- --------
Bal., 12/31/98      3,703,000   37,030  952,910 (616,835)  373,105

Issuance of shrs
of Class B common      8,000        80    19,920             20,000

Net loss, 1999                                   (245,120) (245,120)
                ----- -------  ------- --------- ---------- --------
Bal., 12/31/99     3,711,000   $37,110  $972,830 $(861,955) $147,985


The accompanying notes and accountant's report should be read with
these financial statements.


LUDLUM CONSTRUCTION CO., INC.


           STATEMENTS OF CASH FLOWS
                                        (for the years ended December 31,
                                                1999         1998
                                             ----------   ------------
Cash flows from operating activities
   Net income (loss)                        $  (245,120) $  (904,354)
   Adjustments to reconcile net income (loss)
      to cash flows from operating activities:
   Non-cash issuance of stock for consulting                   7,273
   services
   Depreciation and amortization                594,033      623,408
   Disposition of property and equipment         24,487      (21,798)
   Change in:
   Contract receivables                        (123,350)     345,395
   Costs and estimated earnings in excess of     (4,629)     155,153
   billings
   Income taxes receivable                                    24,769
   Other assets                                  28,548      170,603
   Accounts payable and accrued expenses         31,496      (58,210)
   Deferred income taxes payable               (181,700)
   Billings in excess of costs and estimated
   earnings                                     (10,025)     (97,556)
                                              ----------   ------------
      Net cash provided by operating
    activities                                   295,440      62,983


Cash flows from investing activities
   Purchase of property and equipment           (291,970) (1,713,006)
   Proceeds from sales of property and
   equipment                                     404,750     415,217
                                              ----------   ------------
   Net cash provided by (used in) investing
      activities                                112,780   (1,297,789)

Cash flows from financing activities
   Net borrowings from shareholders              278,793     (12,603)
   Sales of stock                                 20,000     893,000
   Stock redemption                                          (36,364)
   New financing                                 545,490   1,518,666
   Payments on notes payable                  (1,242,271) (1,192,467)
                                              -----------  ------------
      Net cash provided by (used in) financing
       activities                              (397,988)   1,170,232


   Increase (decrease) in cash and cash
     equivalents                                 10,232     (64,574)

   Cash and cash equivalents, beginning of year   3,251      67,825
                                              ----------   -----------

   Cash and cash equivalents, end of year     $  13,483    $  3,251
                                              =========    =========

Supplemental disclosures of cash flow
    information:
   Cash payments for interest                $  277,839    $ 276,105


Non cash financing activities:
   Note payable issued in stock redemption                 $ 400,000


The accompanying notes and accountant's report should be read with
these financial statements.


LUDLUM CONSTRUCTION CO., INC. NOTES TO FINANCIAL STATEMENTS FOR
YEARS 1999 AND 1998


                          LUDLUM CONSTRUCTION CO., INC.
                          NOTES TO FINANCIAL STATEMENTS
                       THREE MONTHS ENDED MARCH 31, 2001


Note 1.  Basis of Presentation

The unaudited financial statements included herein have been
prepared in accordance with the requirements of Regulation S-B and,
therefore, omit or condense certain footnotes and other information
normally included in financial statements prepared in accordance
with generally accepted accounting principles. In the opinion of
management, all adjustments (consisting only of normal recurring
accruals) necessary for a fair presentation of the financial
information for the interim periods reported have been made.
Results of operations for the three months ended March 31, 2001
are not necessarily indicative of the results that may be
expected for the year ending December 31, 2001. These financial
statements should be read in conjunction with the Company's Form
10-KSB, as filed with the Securities and Exchange Commission.

Note 2.  Earnings Per Share

The Company follows the provisions of SFAS No. 128, "Earnings Per
Share," which requires presentation of basic earnings per share
including only outstanding common stock, and diluted earnings per
share including the effect of dilutive common stock equivalents.
The Company's basic and diluted earnings (losses) per share for
all periods presented are the same.

Note 3.  Income Taxes

The Company follows the provisions of SFAS No. 109, "Accounting for
Income Taxes." In accordance with this statement, the Company
records a valuation allowance so that the deferred tax asset
balance reflects the estimated amount of deferred tax assets
that may be realized. Therefore, the deferred tax assets
generated by the net losses in the periods presented have
been offset in their entirety by a deferred tax asset valuation
allowance. There is no provision for income tax for the three
months ended March 31, 2001, due to the availability of prior
period net operating losses.


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATION

INTRODUCTION STATEMENT

The Private Securities Litigation Reform Act provides a "safe
harbor" for forward-looking statements. Certain statements
included in this form 10-QSB are forward-looking statements
and are based on the Company's current expectations and are
subject to a number of risks and uncertainties that could
cause actual results to differ significantly from results
expressed or implied in any forward-looking statement made
by or on behalf of the Company. The Company assumes no
obligation to update any forward-looking statements contained
herein or made from time to time by or on behalf of the Company.

Due to the company being dormant from the year 2000 until 2004,
and the limited amount of records available, the statements that
are presented are based on the statement of the previous 10KSB of
1999 and the last filing by the company of June 30, 2000.  Based
on the information we have from the limited activity and the
creditors, there were no major changes in the first quarter ending
March 31, 2001.

Therefore, we have made assumptions based on the previous filing
that resulted in primarily the figures that we show.

RESULTS OF OPERATIONS

Ludlum Construction Co., Inc., a Florida corporation (the "Company"),
was founded and incorporated in 1976 by Noah Ludlum. The Company is
a dredging and land excavating contractor that provides dredging
services for navigable waterways, lake construction and marinas.
It also provides excavation and development relating to construction
of golf courses and land subdivisions. It is based in Martin County,
Florida.

In April 1998, the Company implemented its expansion plan that
included restructuring of its management. Noah Ludlum resigned
as president, turning management over to James Schwarz, who has
been employed by the Company since its inception. In March, 1998,
the Company conducted a private offering under Rule 504 Of
Regulation D of the Securities Exchange Act of 1934. On September 18,
1998 the Company was approved by the National Association of
Securities Dealers (NASD) for listing on the OTC Bulletin Board
with the symbol LDLMB.

In fiscal year 2000, the Company experienced cost overruns on two
jobs.  Excessive costs, difficulty in dredging at the St. Lucie
County Landfill, and significant underbidding of the job caused a
loss of approximately $240,000 to be recorded on the St. Lucie
County Landfill job. The St. Lucie County Landfill job was finished
in September 1999 with an additional loss of approximately $240,000.
Ambiguities and disputes in the Andros Isle contract as to the amount
of fill removed caused the Company to write off $150,000.00 from
that project. Working with their accountants, the new management
has refined the bidding process to get a true cost-of-job estimate.
In sharp contrast to the $1.00 per cubic yard received from the St.
Lucie County Project, the new management has successfully bid on and
completed the following projects:

CONTRACTOR              SITE             YARDS DREDGED  PRICE PER YARD
-------------------   ---------------    ------------   --------------
South Florida Water
Management District   C-12 Canal, FL         80,000         $5.63
Pelican Bay Services  Clam Bay, FL           32,000         $5.32
City of Melbourne     Crane Creek, FL        46,552         $5.25
PCL Civil
Constructors, Inc.    St. Lucie River, FL     5,950         $7.57

The Company has significantly increased its cost per cubic yard
of material dredged. This was accomplished by focusing on bonded
jobs, which are awarded by federal, state and local governments.
The bonded jobs are less competitive because of the financial and
regulatory requirements. Another positive aspect of government jobs
is that payment is guaranteed, unlike private contractors where
collectability is often an issue. By focusing on government
contracts, the Company is expected to continually increase its
profitability over the next 5 years.

LIQUIDITY AND CAPITAL RESOURCES

The Company is currently servicing its current liabilities and
obligations on a monthly basis as cash becomes available.

ITEM 10. LEGAL PROCEEDINGS

On the advice of its attorneys, on April 1, 2000 the Company
settled the lawsuit filed by Nelson Bunker Hunt Trust Estate
and Edward L. Stephenson vs. Ludlum Construction Co., Inc., et
al., Case No. 99-10542AG filed in the 15th Judicial Circuit in
Palm Beach County, Florida. The Company agreed to execute a new
secured promissory note for $450,000.00 payable at $8,000.00 per
year at no interest. All other claims against the Company and its
officers were dismissed.

The Company also settled its claim against the Company's former
president, Noah Ludlum. The settlement required Ludlum to waive
any rights or money due him by the Company under a promissory note
with a balance of $232,000.00 that was payable at $8,000.00 per
month. He also agreed to take over debt of the dredge "The Florida
Chief" in the approximate amount of $327,000.00. In exchange for
a General Release by the Company, Ludlum received some miscellaneous
equipment, his former company truck plus any proceeds from the
eventual sale of the dredge "TheFlorida Chief".

 On May 2, 2000, Ellicott Machine Corporation International filed
suit against the Company in Baltimore, Maryland, Case No.
24-C-00-001859 for breach of a lease of a dredge in the amount
of $63,549.20 plus interest, costs and attorney fees. In October,
2000, the case was settled for the sum of $18,000.00.

On June 5, 2000, Dredge America, Inc. filed suite against the
Company in the 19th Judicial Circuit Martin County, Florida,
Case No. 00-399-CA, alleging breach of a lease agreement for
dredge pipe with a claim for damages of approximately $50,000.00.
The Company has filed a countersuit for fraud and breach of lease
agreement and has made a claim for damages in excess of $100,000.00.
The case is currently pending with a trial date expected sometime
in 2001.

PART II

ITEM 2.  CHANGES IN SECURITIES

During the first fiscal quarter of 2001, no new shares of common
stock were issued.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)      Exhibits.

                  1.       None.

         (b)      Reports on Form 8-K.

                  1.       None.

SIGNATURES

Pursuant to the requirements 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.

                             /s/   FLOYD D. WILKENSON
                             ------------------------
                             Floyd D. Wilkenson
                             Authorized Agent/Sole Director
                             Appointed by Board of Directors on
                             March 19, 2004


December 6, 2004