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 September 30, 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                       34994
       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 September 30, 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.

                  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
             NINE MONTHS ENDED SEPTEMBER 30, 2001


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.

Results of operations for the nine months ended September 30, 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.

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 third quarter ending
September 30, 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.

On January 25, 2001, the Issuer filed documents with the Secretary of State of
Florida changing its name to PayDirt USA, Inc.

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.

The Company plans to begin leasing more equipment on an "as needed" basis to
Decrease its cost of operation. The Company also plans to lease out its
equipment when it is not being used on a project. The Company's dredge, the
"Florida Chief" was recently leased to Hendry Corporation for $32,000 per
month, while its fixed costs to the Company is approximately $12,000 per month

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 third 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

Dated: December 7, 2004