UNITED STATES
                 SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C. 20549

                        Amendment Number 1 to
                             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: June 30, 2002

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: 000-49726


              YELLOWSTONE CORPORATE SERVICES, INC.
           -----------------------------------------
     (Exact name of registrant as specified in its charter)


            Nevada                          88-0491287
   -----------------------            --------------------
(State or other jurisdiction of  (I.R.S. Employer Identification
incorporation or organization)                 No.)


                                               N/A
    21/F, Centre Point, 181-185            -----------
       Glouscester Road,                    (Zip Code)
      Wai Chai, Hong Kong
 -----------------------------
(Address of principal executive
           offices)


                         (852) 3106-8191
                     -------------------------
       (Registrant's telephone number, including area code)

                               N/A
                        -----------------
 (Former name, former address and former fiscal year, if changed
                       since last report)

   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 [ ]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING
                      THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents
 and reports required to be filed by Sections 12, 13 or 15(d) of the
  Securities Exchange Act of 1934 subsequent to the distribution of
            securities under a plan confirmed by a court.
                           Yes [ ] No [ ]

                APPLICABLE ONLY TO CORPORATE ISSUERS:
  Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date: 6,219,132




PAGE-1-





        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                        Report on Form 10-QSB
                          For quarter ended
                            June 30, 2002


                    TABLE OF CONTENTS

                                                             Page

PART I - FINANCIAL INFORMATION

Item 1 - Financial Statements

Condensed Consolidated Balance Sheets - as of June 30,        3
2002 (unaudited) and December 31, 2001 (audited)

Unaudited Condensed Consolidated Statements of Operations     4
- for each of the three and six-month periods ended June
30, 2002 and 2001, and for the period from Inception
(March 14, 2001) to June 30, 2002

Unaudited Condensed Consolidated Statements of Cash Flows     5
- for each of the six-month periods ended June 30, 2002
and 2001, and for the period from Inception (March 14,
2001) to June 30, 2002

Notes to Condensed Consolidated Financial Statements          6

Item 2 - Management's Discussion and Analysis or Plan of      15
Operation

PART II - OTHER INFORMATION
Item 1 - Legal Proceedings

Item 2. Changes in Securities
Item 3 - Defaults upon Senior Securities

Item 4. Controls and Procedures
Item 5 - Other Information

Item 6. Exhibits and Reports on Form 8-K

SIGNATURES

CERTIFICATIONS







PAGE-2-





                   PART I - FINANCIAL INFORMATION

                    Item 1 - Financial Statements

     The  accompanying  unaudited consolidated  financial  statements
have  been  prepared in accordance with generally accepted accounting
principles for interim financial reporting and pursuant to the  rules
and   regulations   of   the  Securities  and   Exchange   Commission
("Commission").  While these statements reflect all normal  recurring
adjustments  which are, in the opinion of management,  necessary  for
fair  presentation of the results of the interim period, they do  not
include  all  of the information and footnotes required by  generally
accepted  accounting  principles for complete  financial  statements.
For  further  information,  refer to  the  financial  statements  and
footnotes  thereto, which are included in the Company's  Registration
Statement on Form 10-SB previously filed with the Commission on April
9, 2002, and subsequent amendments made thereto.

     The   accompanying  notes  are  an  integral   part   of   these
consolidated financial statements.




















PAGE-3-




         YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
                Condensed Consolidated Balance Sheets
             (Amount expressed in United States dollars)

                            Note     June 30, 2002    December 31,
                                                         2001
                                        (Unaudited)    (Audited)
                                       ----------    -----------

                                          $               $
ASSETS
Current assets:
Cash                                     78,126          31,220
Accounts receivable                      12,368             135
Prepayments                              20,808           7,733
Deferred project costs                       --          46,515
Deferred offering costs           3(b)       --          45,000
Total current assets                    111,302         130,603
Fixed assets:                          ----------    -----------
Office equipment (net of
 accumulated depreciation
 of $464 and $32
 respectively)                             2,228            733

Other assets:
Long-term prepayments             6(a)     7,911         10,811
                                       ----------    -----------
Total assets                             121,441        142,147
                                       ==========    ===========
LIABILITIES, MINORITY
INTEREST AND
STOCKHOLDERS' EQUITY

Current liabilities:
Clients' deposits                             --         10,000
Accounts  payable  and                     4,259         40,348
 accrued expenses
Due to a stockholder              5(e)        --          3,217
                                       ----------    -----------
Total current liabilities                  4,259         53,565
                                       ----------    -----------
Minority Interest in                         503             --
Consolidated Subsidiary                ----------    -----------
Commitments                       6 & 7

Stockholders' equity:
Preferred stock, $0.001 par
 value, 5,000,000 shares          3(a)
 authorized; no shares                        --             --
  issued and outstanding
Common stock, $0.001 par value,
20,000,000  shares  authorized;   3(b)
6,219,132 shares and  5,052,632            6,219          5,053
shares  issued and outstanding,
as of June 30, 2002 and December
31, 2001, respectively
Additional paid-in capital               146,731         90,967
Deficit   accumulated    during          (36,271)        (7,438)
development stage                       ----------    -----------
Total stockholders' equity               116,679         88, 582
Total   liabilities,   minority         ----------    -----------
interest    and   stockholders'          121,441        142,147
equity                                  ==========    ===========


   The accompanying notes are an integral part of these financial statements.




PAGE-4-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
      UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
            (Amounts expressed in United States dollars)





                       Note                                           From
                                                                    inception
                                 Three months        Six months     (March 14,
                                ended June 30,      ended June 30,   2001) to
                                                                     June 30,
                              2002        2001    2002         2001    2002
                             --------   -------  --------    -------  -------
                                $          $        $          $        $
                                                               ---
Revenue from services         26,645      ---     31,379       ---    31,379
 provided
Direct cost of services      (12,321)     ---    (15,263)      ---   (15,263)
                             --------   -------  --------    -------  -------
Gross margin                  14,324      ---     16,116       ---    16,116

Other income                     270      ---        675       ---       810
                             --------   -------  --------    -------  -------
                              14,594      ---     16,791       ---    16,926

General and administrative   (32,489)     ---    (45,624)     (550)  (53,197)
 expenses                    --------   -------  --------    -------  -------
Loss before cumulative
 effect of changes in        (17,895)     ---    (28,833)     (550)  (36,271)
 accounting principle
Cumulative  effect   on
 prior year (to December
 31,  2001) of  changing
 to  a different revenue
 recognition method ,and   4    ---       ---      ---         ---     ---
 a   different   expense     --------   -------  --------    -------  -------
 recognition method,  on
 service           sales
 transactions
Loss   from  operations      (17,895)     ---    (28,833)     (550)  (36,271)
 and net loss                ========   =======  ========    =======  =======

Amount per common share
Loss  before cumulative
 effect of  changes  in      (0.0029)  (0.0000)  (0.0048)  (0.0000)  (0.0067)
 accounting principle
Cumulative  effect   on
 prior year (to December
 31,  2001) of  changing
 to  a different revenue
 recognition method ,and  4     ---       ---       ---      ---       ---
 a   different   expense     --------   -------  --------    -------  -------
 recognition method,  on
 service           sales
 transactions
Net loss per common share    (0.0029)  (0.0000)  (0.0048)  (0.0000)  (0.0067)


Weighted average number
 of    common    shares     6,219,132 5,052,632 6,024,715 5,052,632 5,441,465
 outstanding                 ========   =======  ========    =======  =======

Pro forma amounts assuming
 the new revenue
 recognition method   and
 expense 4  recognition
 method on service            (17,895)  ---       (28,833)     (550)  (36,271)
 sales transactions          ========   =======  ========    =======  =======
 are applied retroactively

      Net loss
        Net loss per          (0.0029)  (0.0000)  (0.0048)  (0.0000)  (0.0067)
        common share         ========   =======  ========    =======  =======



The accompanying notes are an integral part of these financial statements




PAGE-5-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
      UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
            (Amounts expressed in United States dollars)

						               From
							     inception
							     (March 14,
					  Six months ended    2001) to
					      June 30,        June 30,
                                        ------------------
					 2002        2001       2002
                                        -------    -------   ---------


                                          $            $          $
CASH FLOW FROM OPERATING ACTIVITIES

Net loss                               (28,833)      (550)     (36,271)


Adjustments to reconcile net
 loss to net cash paid for
 operating activities:
Depreciation                               432      --             464
Decrease/(increase) in
 operating assets:
Accounts receivable                    (12,233)     --         (12,368)

Prepayments                            (10,175)    (1,850)     (28,719)

Deferred project costs                  46,514      ---
Increase/(decrease) in
 operating liabilities:
Clients' deposits                      (10,000)     ---           ---
Accounts payable and accrued           (36,089)     ---          4,259
 expenses                               -------    -------   ---------
Net cash paid for operating            (50,384)    (2,400)     (72,635)
 activities

CASH FLOW FROM INVESTING ACTIVITIES

Purchases of office equipment           (1,927)     ---         (2,692)

CASH FLOW FROM FINANCING ACTIVITIES
Net proceeds from issuance of          101,930     51,020      152,950
 common stock
Amount due to a stockholder             12,383                  15,599
Repayment of amount due to a           (15,599)     ---        (15,599)
 stockholder
Minority interest                          503      ---            503
                                        -------    -------   ---------
Net increase in cash                    46,906     48,620       78,126
Cash as of beginning of period          31,220      ---           ---
                                        -------    -------   ---------
Cash as of end of period                78,126     48,620       78,126
                                        =======    =======   =========
Non-cash investing and
 financing activities:

Common stock issued in exchange          ---       45,000       45,000
 for corporate consulting and           =======    =======   =========
 document preparation services


   The accompanying notes are an integral part of these financial statements



PAGE-6-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)

1           ORGANIZATION AND PRINCIPAL ACTIVITIES

    Yellowstone   Corporate  Services,  Inc.  (the   "Company")   was
    incorporated  in  the  State of Nevada on March  14,  2001.   The
    Company's  major  business objectives are to provide  consulting,
    liaison,  and  coordination services to foreign small  to  medium
    size  companies  to  assist  them  in  becoming  publicly  traded
    companies  in the United States.  Its initial geographical  focus
    includes  Hong  Kong,  the People's Republic  of  China  and  the
    Republic  of  Korea.   After the clients become  publicly  traded
    companies,  the  Company will also provide continuing  consulting
    services  for  compliance  and  reporting  requirements  in   the
    pertinent  jurisdictions.  Additionally, the  Company  will  also
    provide   advisory  services  to  clients  on  general  corporate
    financial matters.

    The  Company  incorporated five companies as stockholders  during
    February  of  2002 to May of 2002. The key information  on  these
    four companies are:-

        Name of company        Place of     Amount of   Percentage
                            incorporation     Share      of Equity
                                             Capital      held by
                                                            the
                                                          Company
    -----------------------------------------------------------------
        Yellowstone           Hong Kong      $ 2    HKD    100.00%
    (Hong Kong) Limited

       StoneOne, Inc.         State of       $  622 USD    100.00%
                               Nevada

     StarLightOne, Inc.       State of       $  622 USD    100.00%
                               Nevada

       CEP (USA), Inc.        State of       $1,125 USD     55.30%
                               Nevada

          Westpark            Hong Kong      $ 2    HKD    100.00%
   (Hong  Kong) Limited

    Yellowstone (Hong Kong) Limited ("YHK") was formed in  Hong  Kong
    to  serve  local  clients  in Hong Kong by  providing  consulting
    services   which  include  maintenance  of  secretarial  records,
    bookkeeping,  preparation of financial  analysis  for  management
    purposes,   and  business  plan  preparation.  YHK  is  currently
    negotiating  with a Hong Kong consulting firm to  become  a  sub-
    contractor  on  consulting services for a fixed  monthly  fee  of
    $10,000 HKD.

    StoneOne,  Inc.  and  StarLightOne,  Inc.  were  formed  with  no
    specific  business objectives other than to seek for  merger  and
    acquisition  opportunities. The Company  is  currently  the  sole
    stockholder  of  both  companies.  The  Company's  Directors  and
    Officers,  Kai  Hon Chan and Ka Yiu Ip, also serve  as  Directors
    and  Officers of StoneOne, Inc. at no compensation. The Company's
    Director  and  President, King Kwok Yu, currently serves  as  the
    sole   Director  and  Officer  of  StarLightOne,   Inc.   at   no
    compensation.  The  Company  anticipates  it  will  experience  a
    change  of control in and management of these two companies  upon
    the  closing  of a merger or acquisition. When any of  these  two
    companies  enters  into  negotiation with merger  or  acquisition
    targets,  the  Company  will  offer its  services  as  a  Project
    Manager  to  these  targets to assist the  merged  entity  attain
    listing on the OTC Bulletin Board after the consummation  of  the
    merger  or  acquisition for a negotiated project management  fee.
    It  is,  however, not a pre-requisite condition for the Company's
    appointment  as  a  Project Manager for  any  one  of  these  two
    companies  to  enter  into  a merger or acquisition  transaction.
    StoneOne,  Inc. filed a Registration Statement on Form 10SB  with
    the  SEC  on  June  17, 2002 on a voluntary  basis  to  become  a
    Reporting Company under the Securities and Exchange Act  of  1934
    (the  "Exchange Act"). The Company engaged the legal firm, Harold
    P.  Gewerter,  Esq., Ltd. to develop this registration  statement
    at  a cost of  $5,000 USD plus 30,000 shares of restricted common
    stock of StoneOne,



PAGE-7-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)


1           ORGANIZATION AND PRINCIPAL ACTIVITIES (cont'd)

    Inc.  The  Company has made a full payment on the cash  component
    of  the  fee. StoneOne, Inc. has not issued any common  stock  to
    the  legal  firm.  After issuance of these common  stock  to  the
    legal firm, the Company's equity interest in StoneOne, Inc.  will
    decrease  from 100% to 99.52%. The Company's total investment  in
    StonOne,  Inc. was $8,292 USD as of June 30, 2002.  StarLightOne,
    Inc.  has  not  taken  any action to become a  Reporting  Company
    under  the  Exchange  Act.  Othe Company's  total  investment  in
    StarLightOne, Inc. was $1,382 USD as of June 30, 2002.  StoneOne,
    Inc.  and  StarLightOne, Inc. have not commenced any  negotiation
    for a merger or an acquisition.

    CEP  (USA),  Inc.  was formed between the Company,  as  a  55.30%
    shareholder,  and  several  individuals  who  collectively   hold
    44.70%  of the equity in the CEP (USA), Inc.. The names of  these
    individual  shareholders and the percentage  of  equity  held  by
    each  of  them are: (a) Guang Xin Wu - 22.35%, (b) Karlson  Po  -
    8.94%,  (c) So Ha Tsang - 8.94%, and (d) Frank Sherman  -  4.47%.
    Karlson  Po,  So  Ha  Tsang,  and  Frank  Sherman  are  Mr.  Wu's
    designees to become shareholders of CEP (USA), Inc.  Mr. Wu is  a
    major  equity  owner  and  the  President  of  Foshan  Hung   Law
    Investment  Planning  Limited  with  which  the  Company  has   a
    Representative  Office and Name-use Right Agreement.  Mr.  Po  is
    the  Company's  employee and the nephew  of  King  Kwok  Yu,  the
    Company's  Director  and  President.  Mr.  Sherman  is  a   major
    shareholder   and  the  President  of  Yellowstone  Incorporating
    Services,  Inc. with which the Company has a Sub-contracting  and
    Name-use  Right  Agreement. Mr. Sherman has  been  the  Company's
    stockholder  since May of 2002, and the Company's  sub-contractor
    for a Korean project since July of 2002. Currently, King Kwok  Yu
    and  Guang  Xin  Wu  are the Directors and Officers  of  the  CEP
    (USA), Inc.

    The  business  objective  of CEP (USA),  Inc.  is  to  develop  a
    distributorship  business  on environmental  protection  products
    and  processes. The Company has an understanding with  Guang  Xin
    Wu and his designees on the followings:

          * The Company would bear the cost of incorporating CEP (USA), Inc.

          * The Company would assist CEP (USA), Inc. in its expenses to
            establish a shareholder base comprising of at least 50 shareholders;

          * Guang Xin Wu would secure distributorship on environmental
            protection products and processes for CEP (USA) Inc. with his best
            effort at no compensation;

          * Karlson Po and So Ha Tsang would perform bookkeeping and
            administrative function for CEP (USA), Inc. at no compensation;

          * Frank Sherman would assist CEP (USA), Inc. to deal with matters
            in the US at no compensation;

          * Outside financial resources should be secured as and when it is
            needed to support CEP (USA), Inc.'s operations; and

          * CEP (USA), Inc. should seek for listing on either the Pink Sheet
            or the OTC Bulletin Board as and when it is qualified to do so.



PAGE-8-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)

1           ORGANIZATION AND PRINCIPAL ACTIVITIES (cont'd)

    The  Company  has  appointed  the  legal  firm,  David  Wagner  &
    Associates, P.C., to give it legal advice on the distribution  of
    its  shareholding  in  CEP (USA), Inc. to its  stockholders.  The
    Company's  total investment in CEP (USA), Inc. was $3,382  as  of
    June  30, 2002. Guang Xin Wu has caused Fohan Hung Law Investment
    Planning  Limited,  to  which he is the major  equity  owner  and
    President,  to  grant to CEP (USA), Inc. distributorship  on  two
    environmental  protection  related  products  outside  of  China.
    Foshan  Hung  Law  Investment  Planning  Limited  secured   these
    distributorship rights before CEP (USA), Inc. was formed.  As  of
    June  30,  2002, CEP (USA), Inc. had not commenced  any  business
    activities.

    As  and  when  CEP  (USA),  Inc. has  become  a  publicly  traded
    company,  the  Company plans to obtain a consulting  contract  to
    help   CEP   (USA),   Inc.   fulfill  its   statutory   reporting
    requirements.

    Westpark  (Hong  Kong) Limited was incorporate as  the  Company's
    vehicle to have transactions with WestPark Capital, Inc.  of  the
    United  States.  Westpark  (Hong Kong)  Limited  will  receive  a
    finder's fee at pre-determined rates for the purposes of  finding
    suitable  company  clients for both private and  public  funding,
    identifying  and securing sources of institution, private  equity
    and venture capital on behalf of WestPark Capital, Inc.

2           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

    (a)        Development Stage Company

         The  Company  has performed services for compensation  since
         January  of  2002  but the revenue earned  to  date  is  not
         consider  as  significant.  As  a  result,  The  Company  is
         considered  a development stage company, as defined  in  the
         Statement of Financial Accounting Standards No.7

    (b)         Use of Estimates

         The  preparation of the financial statements  in  conformity
         with  accounting principles generally accepted in the United
         States of America requires management to make estimates  and
         assumptions that affect the reported amounts of  assets  and
         liabilities   and  disclosure  of  contingent   assets   and
         liabilities at the date of the financial statements and  the
         reported  amounts  of  revenues  and  expenses  during   the
         reporting period.  Accordingly, actual results could  differ
         from  those estimates.  An estimate was used in valuing  the
         amount  of  shares  to be issued in return for  professional
         services rendered [note 3(b)].  The directors estimate  this
         approximates  the  cost  an independent  professional  would
         charge for these services.

    (c)         Revenue Recognition

         The   Company  previously  had  an  accounting   policy   to
         recognize  project revenues when the projects are completed.
         This  policy  was adopted to apply the Completed Performance
         Method  for  service sales transactions.  During the  second
         quarter  of  2002,  the  Company adopted  a  new  accounting
         policy   to   recognize  project  revenues  based   on   the
         Proportional  Performance Method. This method applies  to  a
         service  transaction involving a specific number of  defined
         but   not   identical  or  similar  acts,  and  the  revenue
         recognized for each act is based on the following formula:

               _____________________________________________
                Direct   cost    of
                individual act         x   Total    revenues
                -------------------        from Complete
                Total     estimated        transaction
                direct costs of the
                transaction
                --------------------------------------------


         Please  refer to note 4 for additional details on the  above
         change in accounting policy.

         Revenue  from  granting name use rights is  recognized  when
         the right to receive payment is established.
        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)


2           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)

         The  Company offers other companies the opportunity to enter
         into  Name-use Right Agreements, so that such companies  can
         include  the  word  "Yellowstone" in their  English  company
         names,  and claim to be the Company's affiliates  when  they
         conduct  business. The Company is a Reporting Company  under
         the  Securities  and  Exchange  Act  of  1934.  The  Company
         believes  the  status  of  being a Reporting  Company  gives
         creditability  to  the Company and its affiliated  companies
         in  the  market place. The Company's potential clients  will
         have  the  opportunities  to review  our  filings  with  the
         Securities  and  Exchange Commission before they  decide  to
         engage   the   Company's  services  and/or  those   of   its
         affiliates.  The  Company  is  of  the  opinion   that   its
         affiliates  have  to pay as a Name-use  Right  fee  for  the
         privilege  to claim as its affiliates. As of June 30,  2002,
         the  Company had a Representative Office and Name-use  Right
         Agreement with Foshan Hung Law Investment Planning  Limited,
         which  was non-cancelable before November 30, 2002,  and  is
         terminable  upon a one-month notice thereafter.  As  of  the
         same  date, the Company also had a Sub-contracting and  Name
         Use   Right   Agreement   with   Yellowstone   Incorporating
         Services,  Inc.,  which  has a  term  of  three  years  from
         November  of  2001. The Company have the  right  to  receive
         payment  from its affiliates when they have issued  invoices
         to  their  customers  for  services  rendered.  The  Company
         recognizes  revenue from granting name use rights  when  the
         right to receive payment is established.

    (d)       Deferred Project Costs

         The  Company  previously had an accounting policy  to  defer
         expenditures  specifically  identifiable  to  a  project-in-
         progress   until  the  completion  of  the   project.   This
         accounting  policy  was  adopted  in  conjunction  with  the
         Completed    Performance   Method   for   project    revenue
         recognition.   Due  to  the  adoption  of  the  Proportional
         Performance  Method  for recognition of project  revenue  in
         the  second  quarter of 2002, the Company also  changed  its
         accounting policy on the expense recognition for project-in-
         progress.  Under  the  Proportional Performance  Method  for
         recognition  of project revenue, indirect costs relating  to
         the  project  are  required  to be  charged  to  expense  as
         incurred,  initial direct costs are required to  be  charged
         to  expense at the time revenues are recognized, and  direct
         costs  are required to be recognized as expense as incurred.
         (note 4)

    (e)        Fair Value of Financial Instruments

         All  financial  instruments of the Company  are  carried  at
         cost, which approximate their fair values.

    (f)         Fixed Assets

         Fixed assets, consisting of office equipment, are stated  at
         cost,  net  of  accumulated depreciation.   Depreciation  is
         provided  using the straight-line method over the  estimated
         useful life of 2 years.

    (g)      Deferred Offering Costs

         The  Company  defers costs associated with  the  raising  of
         capital  until  such time as the offering is  completed,  at
         which  time  the  costs  are  charged  against  the  capital
         raised.   Should the offering be terminated, the  costs  are
         charged  to  operations during the period when the  offering
         is terminated.

    (h)       Net Loss Per Share

         Basic  net  loss  per share is computed in  accordance  with
         Statement  of  Financial  Accounting  Standards   No.128   "
         Earnings  Per  Share" by dividing net loss by  the  weighted
         average number of shares of common stock outstanding  during
         the period.



PAGE-9-





        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)

2           SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont'd)

    (h)       Net Loss Per Share

         Basic  net  loss  per share is computed in  accordance  with
         Statement  of  Financial  Accounting  Standards   No.128   "
         Earnings  Per  Share" by dividing net loss by  the  weighted
         average number of shares of common stock outstanding  during
         the period.

3           STOCKHOLDERS' EQUITY

    (a)       Preferred Stock

         The  Company  is  authorized to issue  5,000,000  shares  of
         preferred  stock with a par value of $0.001 each, with  such
         designations,  voting and other rights  and  preferences  as
         may  be  determined  from  time to  time  by  the  Board  of
         Directors.

    (b)       Common Stock

         The  Company  is  authorized to issue 20,000,000  shares  of
         common  stock with a par value of $0.001 each.  The  Company
         issued  5,052,632 shares on March 28, 2001 for a total  cash
         consideration  of  $51,020  and  for  professional  services
         valued  by  the  Company's Board of  Directors  at  $45,000,
         which  was recorded as deferred offering costs under current
         assets  [note  2(b)] as of December 31,  2001.  In  January,
         2002,  The Company completed a public offering of shares  of
         common  stock in accordance with Regulation D, Rule  504  of
         the   Securities   Act  of  1933,  as   amended,   and   the
         registration by qualification of the offering in  the  State
         of  Nevada.   The  Company sold 1,166,500 shares  of  common
         stock, par value, at a price of $0.10 per share for a  gross
         proceed  of  $116,650 in cash. The cost of this offering  of
         $59,720,  which  included  the  deferred  offering  cost  of
         $45,000, was charged against additional paid-in capital.



4          CHANGE IN PROJECT REVENUE RECOGNITION METHOD AND PROJECT

EXPENSE RECOGNITION METHOD

     During  the  second  quarter of 2002,  the  Company  decided  to
     change  the  method  of  recognizing project  revenue  from  the
     Completed  Performance  Method to the  Proportional  Performance
     Method.  In  connection  with  this  change,  the  Company  also
     changed  the method of recognizing project expenses as  required
     under  the  Completed  Performance  Method  to  the  method   of
     recognizing  project expenses as required under the Proportional
     Performance Method. The changes were made to better reflect  the
     effort  of  our  management  in the financial  statements  on  a
     timely  basis.  The operating result for the  first  quarter  of
     2002  had  been  restated to reflect the newly adopted  methods.
     The  retroactive  application of the new methods,  however,  did
     not  result  in  any cumulative effect in the operating  results
     because  the  Company did not carry out any  project  management
     activities,  which  generated revenues during  the  period  from
     March  14,  2001 (date of Incorporation) to December  31,  2001.
     The  effect  of the changes on net loss for three  months  ended
     March  31, 2001 was zero ($0.0000 per share) because the Company
     had  not commenced any project management activities; the effect
     of  the  changes on the three months ended June 30, 2002 was  to
     decrease  net loss by $ 14,324 ($ 0.0023 per share); the  effect
     of  the  changes on the six months ended June 30,  2002  was  to
     decrease  net  loss by $ 16,116 ($ 0.0027 per  share).  The  pro
     forma  amounts reflect the effect of retroactive application  on
     project revenue  and project expenses that would have been  made
     in 2001 had the new methods been in effect.



PAGE-10-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)


4             CHANGE IN PROJECT REVENUE RECOGNITION METHOD AND
PROJECT EXPENSE RECOGNITION METHOD (cont'd)

     The  effect  of the changes on the first quarter of 2002  is  as
     follows:

             Loss  before cumulative effect
             of   a  change  in  accounting     (10,938)
             principle

             Cumulative  effect  on   prior
             year (to December 31, 2001) of
             changing    to   a   different
             revenue   recognition   method
             ,and   a   different   expense        ---
             recognition method, on service
             sales transactions
             Loss  from operations and  net     (10,938)
             loss

             Amount per common share
             Loss  before cumulative effect
             of   a  change  in  accounting     (0.0018)
             principle
             Cumulative  effect  on   prior
             year (to December 31, 2001) of
             changing    to   a   different
             revenue   recognition   method
             ,and   a   different   expense        ---
             recognition method, on service
             sales transactions

             Net loss per common share          (0.0018)
             Weight   average   number   of     5,830,298
             common shares outstanding

5             RELATED PARTY TRANSACTIONS

     In  addition  to  the  related party transaction  regarding  CEP
     (USA),  Inc.  as disclosed in note 1, the Company also  has  the
     following related party transactions:

    (a)  The  Company's  Board of Directors  has  adopted  a  policy
         to  pay  a  referral  fee  to  its  stockholders,  officers,
         directors,  and employees in the event that the Company  has
         successfully   completed an assignment  as  either  a  Joint
         Project  Manager or a Sole Project Manager as  a  result  of
         receiving a referral from any of these parties The amount of
         referral  fee payable to any of these parties is  determined
         on  a  negotiated basis and is in line with that payable  to
         independent consultants, which has a maximum of 15%  on  the
         Company's project management fee.

    (b)  In  September  2001,  through Mr. William  Lam,  the  Company
         secured  an engagement as Joint Project Manager with Jupiter
         Capital  Korea  Limited to assist a Korean based  client  to
         seek  for quotation on the OTC Bulletin Board in the  United
         States  (the  "Korean Project").  The Company has  commenced
         work   on   this  engagement.   Upon  completion   of   this
         engagement,  the  Company will pay a  referral  fee  to  Mr.
         William Lam (note 7). In addition, we secured the right  for
         a  company  owned  by Mr. Lam to acquire  30,000  shares  of
         restricted common stock of the company to be listed for  the
         Korean  Project.   Mr. William Lam and his wife,  Mrs.  Lisa
         Lam,  beneficially  own  700,000  shares  of  the  Company's
         common stock.



PAGE-11-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)


5           RELATED PARTY TRANSACTIONS (Cont'd)

    (c)       In  connection with the Korean Project, the Company has
         engaged  Qu  Corp.,  which is a registered  stockholder  for
         2,052,632  shares of the Company's common stock, to  act  as
         the  Company's coordinator in the United States at a fee  of
         $45,000,  which is included as part of the deferred  project
         costs  under  current assets. In May of  2002,  the  Company
         reached a decision to terminate the services of Qu Corp  for
         the  Korean Project because the Company wished to work  with
         professional  firms which could pay more  attention  to  the
         progress  of the project. Agreement was reached in the  same
         month  with Qu Corp that they should only be compensated  at
         a   cash  payment  of  $10,000  USD  for  the  work  already
         completed   which  included  formation  of  a   new   Nevada
         corporation  and drafting of documents required  under  Rule
         504  of  Regulation D of the Securities Act  of  1933.  This
         payment  was  made in September of 2001 as a prepayment  and
         was recognized as expense in the second quarter of 2002.  In
         May  of 2002, Qu Corp distributed the whole 2,052,632 shares
         to the following persons :-

                                                       As a
                      Name              Number of     percent
                                        shares of     to total
                                       Yellowstone   Yellowstone
                                       common stock    common
                                                      stock as
                                                       of May
                                                      26, 2002
            ------------------------------------------------------
             Brett Bleazard                   8,500    0.14%
             Nick Pelletiere                 18,000    0.29%
             Ron Davis                       27,500    0.44%
             Cheryl Curtis                  200,000    3.22%
             Tia   Owen  (President
             and  sole owner of  Qu         317,632    5.11%
             Corp)
             Dana Anderson                  160,000    2.57%
             Eileen Anderson                105,000    1.69%
             Nicole Anderson                 25,000    0.40%
             Eric Anderson                   25,000    0.40%
             Kyle Anderson                   25,000    0.40%
             Destiny Anderson                25,000    0.40%
             Ballycastle                     75,000    1.21%
             Enterprises
             Redmoor Holdings, Ltd.          75,000    1.21%
             Coalition    Partners,          50,000    0.80%
             Inc.
             Omawag, Inc.                    40,000    0.64%
             Steel On Target, Inc.           40,000    0.64%
             Delos  Capital Growth,         100,000    1.61%
             LLC
             William R. Cook                100,000    1.61%
             Ray Nance                      257,500    4.14%
             Frank Sherman                  121,000    1.95%
             Gary Tovar                      10,000    0.16%
             Jeff Bradley                   247,500    3.98%
                                           ---------  ---------

                     Total                2,052,632   33.01%
                                           ========   =======

          Other  than being the Company's past stockholder, Qu  Corp.
          and  the Company are two independent consulting firms.  The
          Company does not have any commitment to Qu Corp. to use its
          services  for  any  of the Company's future  projects.  Mr.
          Frank Sherman, who received 121,000 shares of the Company's
          common  stock from the above distribution, is the President
          of Yellowstone Incorporating Services, Inc. which serves as
          our representative office in Las Vegas, Nevada (note 6(a)).
          Mr.  Sherman also holds 4.47% of the equity in one  of  the
          Company's subsidiary, CEP (USA), Inc. (note 1). We  do  not
          have  any commitment to use Mr. Sherman's services for  any
          of our future projects.



PAGE-12-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)

5          RELATED PARTY TRANSACTIONS (Cont'd)

    (d)      On  October  26,  2001,  the  Company  entered  into   a
         Representative   Office  Agreement  with   Jupiter   Capital
         Limited  ("Jupiter Hong Kong"), which is beneficially  owned
         by   Mr.  William  Lam  and  Mrs.  Lisa  Lam.   Under   this
         agreement,  Jupiter  Hong  Kong provides  the  Company  with
         various kinds of office services in Hong Kong including  but
         not  limited to reception services, mail forwarding and  use
         of  office space upon request at a monthly charge of  $1,181
         per  month.   Since November of 2001, the Company  has  been
         using  about 80 square feet of office space on a  continuous
         and  exclusive basis and common space on a sharing basis  as
         provided  by  Jupiter Capital Limited.  On  July  15,  2001,
         Jupiter  Capital Limited served a one month  notice  to  the
         Company  to  terminate the Representative  Office  Agreement
         with effect on August 15, 2002 because it is relocating  its
         office.  On  July  25,  2002, the  Company  entered  into  a
         Monthly  Rental  Agreement with Jupiter Capital  Limited  to
         rent  480  square feet of space for exclusive use and  2,552
         square  feet of space for common use at a monthly rental  of
         US$3,369. (note 6(c) and note 8).

    (e)  Details of amount due to a stockholder of the Company were as
         follows:
         ______________________________________________________
                                         June 30,     December
                                           2002      31, 2001
                                        (Unaudited)

                                            $           $

         Mr. King Kwok Yu                  ---        3,217
         ______________________________________________________


         The  amount due as of December 31, 2001 arose from  payments
         made  by  Mr. Yu on behalf of the Company during the  normal
         course  of  business   This  banlance  was  unsecured,  non-
         interest bearing and without pre-determined repayment term.

   (f) In February of 2002, the Company reached agreement with Supply
       Chain Services, Inc. ("SCS") to buy 618,497 shares of its common
       stock for a total cash consideration of $5,000 USD, after SCS has
       registered  these  shares for distribution  to  the  Company's
       stockholders under the Securities Act of 1933. The Company further
       agreed to introduce a Market Maker to SCS to sponsor it to apply for
       quotation of its common stock on the OTC Bulletin Board after the
       registration of the 618,497 shares of its common stock becomes
       effective. The Company, however, is not obliged to introduce a market
       maker  to  Supply Chain as part of the consideration  in  this
       transaction. During February of 2002, the Company made a  non-
       refundable deposit to SCS which will be applied towards the Company's
       purchase of SCS's common stock, and SCS engaged the legal firm,
       Harold P. Gewerter, Esq., Ltd., to develop documents for registration
       of the shares the Company agreed to purchase. SCS is a Reporting
       Company under the Securities and Exchange Act of 1934, but its common
       stock is not publicly traded. The major business of SCS is to provide
       supply chain management services to US companies buying merchandizes
       from Asia. SCS was introduced to the Company by King Kwok Yu, its
       Director and President. Mr. Yu was a Director of SCS from May of 1999
       to September of  2000, and the Treasurer, Controller and Secretary of
       SCS from May of 1999 to January of 2002. Mr. Yu holds 2,000,000
       shares out of SCS's total issued and outstanding common stock of
       35,533,333 shares. As of June 30, 2002, the documents to register the
       SCS common stock the Company agreed to purchase was still under
       preparation. The Company will not receive any fees from SCS for this
       transaction since it is not providing any consulting services to SCS,
       and accordingly Mr. Yu will not receive any referral fee from the
       Company for introducing Supply Chain to us.



PAGE-13-




        YELLOWSTONE CORPORATE SERVICES, INC. AND SUBSIDIARIES
                    (A DEVELOPMENT STAGE COMPANY)
        NOTES TO CONDENSED COPNSOLIDATED FINANCIAL STATEMENTS
            (Amounts expressed in United States dollars)


6           OPERATING LEASES

    (a)  In November of 2001, the Company entered into a Sub-contracting
         and Name Use Right Agreement with Yellowstone Incorporating Services,
         Inc. ("YIS) which is a Nevada company providing new corporation
         formation and resident agency services. YIS has to maintain offices
         at its own expenses for business purposes providing the Company a
         business presence in Las Vegas, Nevada; United States. YIS also has
         to provide the Company with mail sorting/forwarding, photocopying and
         facsimile transmitting services The Company has non-exclusive right
         to use the office space occupied by YIS. The total charge under this
         agreement is $17,400 for three years from November 12, 2001 to
         November 11, 2004.  Full payment on the charges, including for the
         non-exclusive use of YIS's office space by the Company, had been made
         of which $7,911 included under long-term prepayments and $5,800
         included under current prepayments ($10,811 and $5,800 as of December
         31, 2001, respectively).

    (b)  In November of 2001, the Company entered into a Representative
         Office and Name-use Right Agreement with Foshan Hung Law Investment
         Planning Limited ("Foshan Hung Law").  Foshan Hung Law has to
         maintain offices at its own expenses for business purposes providing
         the Company a business presence in Foshan, Guangdong, China. Foshan
         Hung   Law  also  has  to  provide  the  Company  with  mail
         sorting/forwarding, photocopying and facsimile transmitting services
         The Company has non-exclusive right to use the office space occupied
         by Foshan Hung Law. This agreement will expire on November 30, 2002.
         Minimum future payments under this agreement in effect were $2,500 as
         of June 30, 2002 and $5,500 as of December 31, 2001.

    (c)  On October 26, 2001, the Company entered into a Representative
         Office Agreement with Jupiter Capital Limited ("Jupiter Hong Kong"),
         which is beneficially owned by Mr. William Lam and Mrs. Lisa Lam.
         Under this agreement, Jupiter Hong Kong provides the Company with
         various kinds of office services in Hong Kong including but not
         limited to reception services, mail forwarding and use of office
         space at a monthly charge of $1,181 per month.  Since November of
         2001, the Company has been using about 80 square feet of office space
         on a continuous and exclusive basis and common space on a sharing
         basis as provided by Jupiter Capital Limited Company. On July 15,
         2001, Jupiter Capital Limited served a one month notice to the
         Company to terminate the agreement with effect on August 15, 2002.
         (note 5(d) and note 8).

    (d)  The company had incurred a total charge of $16,634 for use of
         office space, both on a exclusive basis and non-exclusive basis, and
         for  other office services in relation to the abovementioned
         agreements for the period from March 14, 2001 (date of incorporation)
         to June 30, 2002.

7           COMMITMENTS

    The  Company is committed to pay a referral fee of $4,500 to  Mr.
    William  Lam  if  the  Korean Project is  successfully  completed
    (note 5(b)).

8          SUBSEQUENT EVENTS

    On  July  25,  2002, the Company entered into  a  Monthly  Rental
    Agreement  with Jupiter Capital Limited to rent 480  square  feet
    of  space  for exclusive use and 2,552 square feet of  space  for
    common  use  at  a monthly rental of US$3,369 (note  5(d)).  This
    agreement  will  become  effective on August  16,  2002,  and  is
    terminable by serving a one month notice.



PAGE-14-







                   PART I - FINANCIAL INFORMATION

Item 2 - Management's Discussion and Analysis or Plan of Operation

Forward Looking Statements

     Some  of  the statements contained in this Form 10-QSB that  are
not  historical facts are "forward-looking statements" which  can  be
identified by the use of terminology such as "estimates," "projects,"
"plans,"  "believes,"  "expects," "anticipates,"  "intends,"  or  the
negative  or  other variations, or by discussions  of  strategy  that
involve risks and uncertainties.  We urge you to be cautious  of  the
forward-looking statements, that such statements, which are contained
in  this  Form  10-QSB, reflect our current beliefs with  respect  to
future events and involve known and unknown risks, uncertainties  and
other  factors  affecting  our operations, market  growth,  services,
products  and  licenses.  No assurances can be  given  regarding  the
achievement  of  future  results,  as  actual  results   may   differ
materially  as a result of the risks we face, and actual  events  may
differ from the assumptions underlying the statements that have  been
made regarding anticipated events.

Business overview

     We were incorporated in the State of Nevada on March 14, 2001,
under the name Yellowstone Corporate Services, Inc.

     Our goal is to assist small- and medium-sized foreign businesses
in  accessing  international  capital  markets  through  listings  on
nationally  recognized stock exchanges such as  the  Nasdaq  National
Market,  Nasdaq  Small  Cap,  OTCBBr, Bulletin  Board  ExchangeSM  or
American  Stock Exchange.  We intend to initially offer our  services
to  clients in a focused geographical region, which will include Hong
Kong,  the People's Republic of China and the Republic of Korea.   We
plan  to  facilitate  this goal by acting as  a  Project  Manager  to
provide  consulting,  liaison and coordination  services  to  foreign
companies.   In  addition, after our clients become  publicly  traded
companies,  we will provide them with continuing consulting  services
related  to maintaining compliance with the requirements of pertinent
jurisdictions and regulatory agencies.  Such consulting, liaison  and
coordination services that we intend to provide include  or  address,
without exclusivity, the following:

    1.   Organizing and incorporating client companies;
    2.   Development and preparation of business and operational plans;
    3.   Establishing accounting control systems;
    4.   Referring clients to independent accounting firms;
    5.   Hiring of independent third-party legal and professional
         services firms as our sub-contractor for preparation of documents
         for initial listing exercises.
    6.   Referring clients to independent third-party legal and other
         professional services firms after they become public traded
         companies;
    7.   Acting as the intermediary for the flow of information and
         documentation between clients and professional services firms; and
    8.   Other general advisory services, as required or requested by
         clients.

    We  do  not  have  pre-arranged agreements with  any  independent
third-party  accounting, legal or other professional  services  firms
for  the  provision of services to our clients. We will select  these
professionals  and recommend them to our clients  when  we  start  an
assignment. Our clients will then decide whether to accept or  reject
our recommendations. For initial listing exercises, after a selection
is  made, we will hire directly legal and other professional services
firms  as  our  sub-contractors  to  prepare  the  necessary  listing
documents because the charges for documents preparation are  included
in  our  project  management fees. After  becoming   publicly  traded
companies,  our  clients will have to appoint  the  legal  and  other
professional  services firm directly for their  continuing  services.
Under  all  circumstances,  our  clients  have  to  directly  appoint
accounting firms as their Reporting Accountants. Since inception,  we
have  not  received  any compensation for referring  our  clients  to
accounting,  legal  firms and other professional services  firms.  We
have  adopted  a policy not to receive referral fees from  accounting
firms and legal firms.

    In  September  of  2001, we and Jupiter Capital  Korea  Co.  Ltd.
collectively  entered into a contract as Joint Project Managers  with
Wink  Co.  Ltd.  ("Wink Korea") to assist  it attain listing  on  the
OTCBBr   in   the  United  States  of  America  through  a  corporate
restructuring  and  the creation/acquisition of an appropriate  legal
entity Wink Korea was established in March of 1999 under the laws  of
the  Republic of Korea. Wink Korea specializes in the development  of
wireless  Internet application solutions. Wink Korea was approved  as



PAGE-15-




"New  Technology  Certified Company" by the Computer &  Communication
Promotion  Association of the Ministry of Information & Communication
of  Korea in November of 1999, and "Top Venture Company" by the Small
& Medium Business Association of Korea in May of 2000. Wink Korea has
developed  four wireless Internet solutions: (i) M-Tour System,  (ii)
Insurance  System,  (iii) National Police Inquiry  System,  and  (iv)
Logistic System. In October of 2001, we arranged the incorporation of
Wink  (USA),  Inc. under the laws of the State of Nevada  through  Qu
Corp  to  create a legal entity for listing purposes. In February  of
2002, a Conditional Share Exchange Agreement was entered into between
Wink  (USA),  Inc. and Mr. Mean-Churl Lee, the major shareholder  and
Presdient/CEO  of  both Wink Korea and Wink (USA),  Inc.  Under  this
agreement,  Mr. Mean-Churl Lee agreed to exchange his equity  holding
of  1,375,000 shares of Wink Korea ordinary shares for 100,000 shares
of  the common stock of Wink (USA), Inc. As a condition precedent  to
the  completion of the contemplated share exchange transaction,  Wink
(USA),  Inc. had to receive the audited financial statements of  Wink
Korea   prepared  in  accordance  with  the  US  Generally   Accepted
Accounting Principles before June 30, 2002. Also in February of 2002,
Wink  Korea  assigned  all  its rights  and  obligations  under  this
contract  to  Mr.  Mean-Churl  Lee. It  was  contemplated  that  upon
completion  of  the  contemplated share  exchange  transaction,  Wink
(USA), Inc. would become a majority stockholder of Wink Korea, and it
would then proceed to undertake the necessary procedures to have  its
common stock quoted on the OTC Bulletin Board. In August of 2002, Mr.
Mean-Churl  Lee  advised  us  that the  preparation  of  the  audited
financial statements of Wink Korea prepared in accordance with the US
Generally Accepted Accounting Principles were not completed  by  June
30,  2002,  and therefore the contemplated share exchange transaction
was  abandoned.  Mr.  Mean-Churl Lee  also  advised  us  that  he  is
undertaking actions to (i) cause Wink Korea to subscribe  the  common
stock  of  Wink (USA), Inc. in cash to become a majority stockholder,
and  (ii)  casue Wink Korea grant distribution right in the territory
of  the US on its wireless Internet solutions to Wink (USA), Inc.  We
are  currently assisting Wink (USA), Inc., Wink Korea and  Mr.  Mean-
Churl Lee to structure these two transactions as part of our services
to  assist Wink (USA), Inc. attain listing on the OTC Bulletin Board.
Our  exercise  to  help Wink (USA), Inc. attain a listing  status  is
hereafter referred to as the "Korean Project". Wink (USA), Inc., Wink
Korea  and Mr. Mean-Churl Lee are hereafter collectively referred  to
as client when the Korean Project is being discussed.

    In  June  of 2002, we and Jupiter Korea secured another  contract
as Joint Project Managers to assist a second Korean corporation, Vega
Infotek Co. Ltd. ("Vega Infotek"), attain listing on the OTCBB  at  a
total contract value of $200,000. Vega Infotek was formed in Korea in
1999.  Its  major  line of business is to develop,  market  and  sell
equipments  which  supplement the use of Personal  Digital  Assistant
machines.  In  connection  with this new  project,  we  entered  into
another  cooperation  agreement  with  Jupiter  Korea.   Under   this
agreement,  Jupiter Korea is responsible to prepare a  business  plan
and  maintain  client  relationship, and we are responsible  for  new
company formation and documentation preparation.  As compensation, we
will  receive  cash  in  the  amount of $90,000.   We  are  currently
negotiating with the client for additional compensation in  the  form
of  common stock of the Company.  We will, however, provide  services
to  this client even if we are not successful in negotiating for  any
stock  compensation.  We have not received our required cash  deposit
from  our  client, and we will not commence any work on this  project
until this deposit is received. We have not incurred any cost on this
project.  The contract we entered into with Vega Infotek  is  legally
binding  on  the  parties to the contract. Under this contract,  Vega
Infotek  was  required to make a cash deposit with  us  within  three
business days after the execution of the contract. This payment is in
default  as of the date of this Registration Statement. We  have  not
commenced  legal action to enforce Vega Infotek to make this  payment
because  we hold the view that legal action is not justified  at  the
moment  since  we have not incurred any cost to secure this  project,
and  we  have not suffered any financial losses as a result  of  Vega
Infotek's non-payment of deposit. We are relying on Jupiter Korea  to
work  with  the  management of Vega Infotek to  address  the  current
issue.  Under our cooperation agreement for the Vega Infotek  listing
exercise,   Jupiter   Korea  is  responsible   to   maintain   client
relationship. We cannot give assurance that we will ever receive  the
cash deposit from Vega Infotek.

    In   the  event  that  we  have  other  situations  whereby  non-
performance  of  contract by clients will have  caused  us  financial
losses,  we  would consider to take legal actions after an evaluation
of  (a)  the  causes  for the non-performance  by  clients;  (b)  the
financial situation of the clients; (c) the amount of our legal costs
to be incurred; and (d) advice from legal counsels.

    Other  than on the Korean Project, we did not provide any revenue
generating services for the period from inception to June 30, 2002.

    In  July  of  2002, we provided consulting services  through  our
wholly   owned  subsidiary,  Yellowstone  (Hong  Kong)  Limited,   in
assisting a Hong Kong consulting firm to prepare a business plan  for
its client.

    In  August of 2002, we and Jupiter Korea secured another contract
as  Joint Project Managers to assist a third Korean corporation, CEST
Co.  Ltd. ("CEST"), attain listing on the OTCBB at a total cash value
of  $200,000. We are also granted the right to acquire 700,000 shares
of  the  common  stock of the listing vehicle at a  contemplated  par
value  of  US$0.001  per share for distribution to  our  stockholders
after  registering these shares under the Securities Act of 1933,  as



PAGE-16-




amended.  Further,  we  are  granted  600,000  warrants,  which   are
convertible  into  600,000  shares of common  stock  of  the  listing
vehicle  at  a  conversion  price of  US$0.20  per  share.  CEST  was
established  in  Korea  in 1999. Its major line  of  business  is  to
develop,  market  and sell hardwares for (a) wireless/wired  portable
fingerprint   identification  system;  (b)  credit   card   securitiy
identification  system;  and  (c)  information  security  system.  We
entered into a cooperation agreement with Jupiter Korea.  Under  this
agreement,  Jupiter Korea is responsible to prepare a  business  plan
and  maintain  client  relationship, and we are responsible  for  new
company formation and documentation preparation.  As compensation, we
will receive cash in the amount of $90,000. We have not incurred  any
cost  on  this project as of the date of this Registration Statement.
Jupiter  Korea is currently collecting company information to prepare
a  business plan and for the preparation of a Registration  Statement
to  be  filed with the Securities and Exchange Commission  under  the
Securities Act of 1933, as amended.

    In  September  of  2002, we entered into a  consulting  agreement
with  Wink (USA), Inc. to provide the following services at a monthly
fee of $3,500 for a six months period ending in February of 2003 :-

     * Assist Wink (USA), Inc. establish annual operating budgets.
     * Assist Wink (USA), Inc. establish an accounting system.
     * Coordinate with auditors and accountants of Wink (USA), Inc. to
       ensure all statutory requirements with regard to financial and tax
       reporting are fulfilled.
     * Assist Wink (USA), Inc. prepare monthly management reports.
     * Assist Wink (USA), Inc. assemble financial information for
       presentation to third parties.
     * After Wink (USA), Inc. becomes a Reporting Company under the
       Securities and Exchange Act of 1934, as amended, coordinate with its
       securities counsel and auditors to ensure current and periodic
       reportings are filed with the United States Securities and Exchange
       Commission on a timely basis.
     * Assist Wink (USA), Inc. maintain corporate minutes.
     * Assist Wink (USA), Inc. prepare annual reports.
     * Assist Wink (USA), Inc. arrange for Annual Stockholders'
       Meetings.
     * Introduce appropriate parties to Wink (USA), Inc. for  the
       purpose of establishing an Investor Relation program, and act as a
       coordinator thereafter.

     Wink (USA), Inc. is the company formed in the State of Nevada to
be the listing vehicle for the Korean Project. The above services are
not included in the original contract for listing services we entered
into for the Korean Project in 2001.

     We  consider our company as a Development Stage Company  because
we   have  not  generated  significant  revenue  from  our  principal
business.

Plan of Operation

    As  of  June  30, 2002, we had $78,126 of cash.  This  amount  of
cash  will not be sufficient to cover our cash needs in the  next  12
months  for operating activities before revenues, which is  estimated
at  approximately $220,000, and investing activities of approximately
$4,500, which are for the purchase of equipment and furniture, in the
next twelve months.  In order to meet our estimated cash needs during
this period, we need to accomplish all of the following:

    1.  Completion of the Korean Project currently in progress;

    2.  Commencement  of  work  upon receipt  of  the  required  cash
         deposit from Vega Infotek Co. Ltd., and completion of   this
         project;

    3.  Completion of the listing exercise for CEST Co. Ltd.;

    4.  Provision   of  services  to  Wink  (USA),  Inc.  under   the
         consulting agreement we entered into in September of 2002;

    5.  Our   wholly   owned  subsidiary,  Yellowstone  (Hong   Kong)
         Limited,  is successfully in securing the contract currently
         under  negotiation  with  a Hong  Kong  consulting  firm  to
         become  a sub-contractor on consulting services for a  fixed
         monthly fee of HK$10,000; and

    6.  Securing  and  completion of an additional  assignment  which
         will generate cash revenue to us of at least $30,000 if  the
         listing  exercise  for  Vega  Infotek  Co.  Ltd.  does   not
         materialize.



PAGE-17-





    We  cannot give assurance that we can accomplish all of the above
four  tasks  to  generate the cash we need for the  next  12  months.
There  will  be a shortfall in our cash if we fail to accomplish  any
one  of these four tasks.  We may need to obtain additional financing
in  the  event  that we are unable to realize sufficient  revenue  or
collect accounts receivable.  Furthermore, our ability to satisfy the
redemption of future debt obligations that we may enter into will  be
primarily   dependent  upon  the  future  financial   and   operating
performance  of  our  Company.  Such performance  is  dependent  upon
financial, business and other general economic factors, many of which
are beyond our control.  If we are unable to generate sufficient cash
flow  to meet our future debt service obligations or provide adequate
long-term liquidity, we will have to pursue one or more alternatives,
such  as reducing or delaying capital expenditures, refinancing debt,
selling assets or operations or raising equity capital.  There can be
no   assurance   that  such  alternatives  can  be  accomplished   on
satisfactory terms, if at all, or in a timely manner.  If we  do  not
have  sufficient cash resources when needed, we will not be  able  to
continue our operations as a going concern.

    Our priorities for the next 12 months of operations are:

    1.  Completion  of  the Korean Project currently  in  progress  -
         The  registration  statement for this project  to  be  filed
         with  the  SEC  is presently under development.   We  cannot
         give assurance that this project can be complete within  the
         next 12 months.

    2.  Commencement  and  completion of  the  listing  exercise  for
         Vega  Infotek Co. Ltd.  we were contracted for  in  June  of
         2002.   We have not received our required cash deposit  from
         our  client.  We will not commence any work on this  project
         until  we  are  paid with a cash deposit.   We  cannot  give
         assurance  that we will ever commence work on this  project,
         or  if  we  start work, we can complete this project  within
         the next 12 months.

    3.  Completion  of  the  listing exercise  for  CEST  Co.  Ltd  -
         Jupiter  Capital  Korea Co. Ltd., our  cooperation  partner,
         has  commenced  collection of company  information  for  the
         preparation of a business plan and for the preparation of  a
         registration  statement to be filed with the Securities  and
         Exchange  Commission under the Securities Act  of  1933,  as
         amended;

    4.  Provision   of  services  to  Wink  (USA),  Inc.  under   the
         consulting agreement we entered into in September of 2002  -
         we  have  commenced to provide consulting services  to  Wink
         (USA), Inc.;

    5.  Assisting  our  wholly  owned subsidiary,  Yellowstone  (Hong
         Kong)   Limited,   to  successfully  secure   the   contract
         currently  under  negotiation with a  Hong  Kong  consulting
         firm  to become a sub-contractor on consulting services  for
         a fixed monthly fee of HK$10,000; and

    6.  Secure  and  completion  of  an additional  assignment  which
         will generate cash revenue to us of at least $30,000 if  the
         listing  exercise  for  Vega  Infotek  Co.  Ltd.  does   not
         materialize

    7.  Organizing  seminars  to  educate potential  clients  -  Most
         people  in Asia recognize the importance of American capital
         markets    in    terms   of   stability    and    liquidity.
         Unfortunately, these same people are not familiar  with  (a)
         the    procedure   to   access   US   markets,    (b)    the
         responsibilities  of  a fully reporting  company  registered
         with  the  United States Securities and Exchange  Commission
         and  (c)  the regulations and laws governing the raising  of
         capital  in the US.  We plan to organize seminars to educate
         potential   clients   about   the   risks,   benefits    and
         responsibilities  related  to  raising  capital  and   being
         listed  on  an exchange in the United States.   No  seminars
         have  been  organized or planned as of yet.   We  target  to
         host  our  first  seminar during the last quarter  of  2002.
         Thereafter,  we  plan to have one seminar in  each  quarter.
         We  will start the seminars on a small scale with a targeted
         number   of  five  to  ten  attendants  per  seminar.    The
         attendants will be invited to come to our seminars  free  of
         charge.   We  estimate  that the cost for  each  seminar  is
         approximately $1,000.

    8.  Developing  our  network  of contacts  -  We  are  a  service
         oriented   company   and   our   assignments   involve   the
         participation  of qualified professionals.  Our  network  of
         contacts  to provide these services consists of two  groups:
         (1)  professional  firms  such as  law  firms,  accountants,
         broker/dealers and transfer agents, which are  required  for
         publicly-traded   companies;  and  (2)   corporate   finance
         houses,  individual  professionals and friends  and  family.
         The  first  group of professionals will assist  our  clients
         with  the  process of becoming fully reporting and publicly-
         traded.   The  second  group will be relied  upon  to  offer
         referrals  and  to generate word of mouth  advertising.   We



PAGE-18-




         are  developing our network of contacts through introduction
         of  contacts by the friends and past business associates  of
         our  directors  and  officers.  We  also  receive  leads  of
         contacts  through  referrals  from  organizations  having  a
         working relationship with us such as Westpark Capital,  Inc.
         and  Yellowstone Incorporating Services, Inc.  We do pay any
         introduction   or   referral  fees  to   any   parties   for
         introducing contacts to us.

    9.  Raising of equity capital for cash.


Results of operations

Revenue  from  services provided, direct cost of services  and  gross
margin

     Our  revenue from services provided was $ 26,645 for  the  three
months ended June 30, 2002.  This revenue was generated from the work
we  had performed on the Korean Project.  Our direct cost of services
was  $  12,321  for  the  three months ended  June  30,  2002,  which
represented the direct costs incurred on the Korean Project. The most
significant item included in the direct costs was $10,000 of  charges
we  paid  to Qu Corp for sub-contract work on the Koran Project.   We
contracted  Qu  Corp  to perform certain services including  document
preparation  for  the  Korean  Project  in  September  of  2001.   We
terminated  all our contracts with Qu Corp for the Korean Project  in
May  of  2002.   Qu  Corp  agreed with us  that  it  should  only  be
compensated  for  work  already performed for $10,000,  and  that  we
should  be  released from any further liabilities under all contracts
we  entered with it for the Korean Project. The gross margin for  the
three  months  ended  June 30, 2002, at $ 14,324,  was   54%  of  our
revenue  from  services. We did not have any  revenue  from  services
provided,  direct  cost of services and gross margin  for  the  three
months  ended June 30, 2001 because we did not rendered  any  service
during this period.

Other income

     We  had other income of $270 for the three months ended June 30,
2002.  This  was the name use right fee payable to us by  Yellowstone
Incorporating Services, Inc. for its right to include Yellowstone  in
its  company  name, and its right to claim as our affiliate  when  it
conducts  business. There was no other income for  the  three  months
ended June 30, 2001 because Yellowstone Incorporating Services,  Inc.
was not in existence then.

General and administrative expenses

     General  and administrative ("G&A") expenses totaled to  $32,489
for  the three months ended June 30, 2002. Items included in the  G&A
expenses for the three months ended June 30, 2002 were audit  fee  of
$2,035, legal fees of $3,000, salaries of $7,419, SEC filing expenses
of  $5,852, fees for representative offices (including exclusive  and
non-exclusive  use  of  office spaces in Hong Kong,  China,  and  Las
Vegas)  of $6,492, traveling expense of $2,898, stock transfer  agent
set up charges of $966, and office and other expenses of $3,827.

     We  did  not  incur any G&A expenses for the three months  ended
June 30, 2001.

Loss before cumulative effect on prior year (to December 31, 2001) of
changes in accounting principle

     Our loss before cumulative effect on prior year (to December 31,
2001)  of  change in accounting principle was $17,895 for  the  three
months ended June 30, 2002. We incurred this loss because we did  not
generate  sufficient revenue for services provided to cover  all  our
costs  and expenses. There was no profit or loss for the three months
ended  June 30, 2001 because we did not generate revenue and/or incur
any cost and expense during this period.

Cumulative effect on prior year (to December 31, 2001) of changing to
a  different  revenue  recognition method, and  a  different  expense
recognition on service sales transactions

     During  the  second quarter of 2002, we decided  to  change  the
method  of recognizing project revenue from the Completed Performance
Method  to  the  Proportional Performance Method. In connection  with
this  change,  we  also  changed the method  of  recognizing  project
expenses  as required under the Completed Performance Method  to  the
method  of  recognizing  project  expenses  as  required  under   the
Proportional  Performance  Method  (see  note  4  to  the   unaudited
financial  statements for the three months and six months ended  June
30,  2002). The changes were made to better reflect the effort of our
management  in  the  financial statements  on  a  timely  basis.  The
cumulative effect on prior year (to December 31, 2001) resulting from
these changes for the three months ended June 30, 2002 and 2001  were
both zero.



PAGE-19-





Loss after cumulative effect on prior year (to December 31, 2001)  of
changes in accounting principle

     Our  loss after cumulative effect on prior year (to December 31,
2001)  of  change in accounting principle was $17,895 for  the  three
months ended June 30, 2002. We incurred this loss because we did  not
generate  sufficient revenue for services provided to cover  all  our
costs  and expenses. There was no profit or loss for the three months
ended  June 30, 2001 because we did not generate revenue and/or incur
any expense during this period.

Results  of  operations for the six months ended  June  30,  2002  as
compared to six months ended June 30,2001

Revenue  from  services provided, direct cost of services  and  gross
margin

     Our revenue from services provided was $31,379. This revenue was
generated from the work we had performed on the Korean Project.   Our
direct  cost of services was $ 15,263 for the six months  ended  June
30,  2002, which represented the direct costs incurred on the  Korean
Project.  The most significant item included in the direct costs  was
$10,000  of charges we paid to Qu Corp for sub-contract work  on  the
Koran  Project.   We contracted Qu Corp to perform  certain  services
including document preparation for the Korean Project in September of
2001.   We  terminated all our contracts with Qu Corp for the  Korean
Project  in May of 2002.  Qu Corp agreed with us that it should  only
be  compensated for work already performed for $10,000, and  that  we
should  be  released from any further liabilities under all contracts
we entered with it for the Korean Project  The resulting gross margin
for  the six months ended June 30, 2002 was $ 16,116, or  51% of  our
revenue  from  services.  We did not have any revenue  from  services
provided, direct cost of services and gross margin for the six months
ended  June  30, 2001 because we did not rendered any service  during
this period.

Other income

     We  had  other income of $675 for the six months ended June  30,
2002.  This  was the name use right fee payable to us by  Yellowstone
Incorporating Services, Inc. for its right to include Yellowstone  in
its  company  name, and its right to claim as our affiliate  when  it
conducts business. There was no other income for the six months ended
June  30,  2001 because Yellowstone Incorporating Services, Inc.  was
not in existence then.

General and administrative expenses

     General  and administrative ("G&A") expenses totaled to  $45,624
for  the  six months ended June 30, 2002. Items included in  the  G&A
expenses  for  the six months ended June 30, 2002 were audit  fee  of
$2,035, legal fees of $3,000, salaries of $7,419, SEC filing expenses
of  $5,852, fees for representative offices (including exclusive  and
non-exclusive  use  of  office spaces in Hong Kong,  China,  and  Las
Vegas) of $12,984, traveling expense of $5,942, stock transfer  agent
set   up   charges  of  $966,  incorporation  expenses   $3,655   for
incorporating  four subsidiaries, and office and  other  expenses  of
$3,771.

     We  only incurred G&A expenses of $550 for the six months  ended
June  30,  2001, which represented the cost of incorporation  of  our
company.

Loss before cumulative effect on prior year (to December 31, 2001) of
changes in accounting principle

     Our loss before cumulative effect on prior year (to December 31,
2001)  of  change  in accounting principle was $28,833  for  the  six
months ended June 30, 2002. We incurred this loss because we did  not
generate  sufficient revenue for services provided to cover  all  our
costs  and expenses. The loss before cumulative effect on prior  year
(to December 31, 2001) of change in accounting principle was $550 for
the  six  months  ended June 30, 2001 because  we  did  not  generate
revenue,   but  we  incurred  $550  of  incorporation   expense   for
incorporating our company.

Cumulative effect on prior year (to December 31, 2001) of changing to
a  different  revenue  recognition method, and  a  different  expense
recognition on service sales transactions

     During  the  second quarter of 2002, we decided  to  change  the
method  of recognizing project revenue from the Completed Performance
Method  to  the  Proportional Performance Method. In connection  with
this  change,  we  also  changed the method  of  recognizing  project
expenses  as required under the Completed Performance Method  to  the
method  of  recognizing  project  expenses  as  required  under   the
Proportional  Performance  Method  (see  note  4  to  the   unaudited
financial  statements for the three months and six months ended  June
30,  2002). The changes were made to better reflect the effort of our
management  in  the  financial statements  on  a  timely  basis.  The
cumulative effect on prior year (to December 31, 2001) resulting from
these  changes for the six months ended June 30, 2002 and  2001  were
both zero.



PAGE-20-





Loss after cumulative effect on prior year (to December 31, 2001)  of
changes in accounting principle

     Our  loss after cumulative effect on prior year (to December 31,
2001)  of  change  in accounting principle was $28,833  for  the  six
months ended June 30, 2002. We incurred this loss because we did  not
generate  sufficient revenue for services provided to cover  all  our
costs  and  expenses. The loss after cumulative effect on prior  year
(to December 31, 2001) of change in accounting principle was $550 for
the  six  months  ended June 30, 2001 because  we  did  not  generate
revenue,   and  we  incurred  $550  of  incorporation   expense   for
incorporating our company.

Results of operations for the period from inception (March 14,  2001)
to June 30, 2002

Revenue  from  services provided, direct cost of services  and  gross
margin

     Our  revenue from services provided was $ 31,379.  This  revenue
was  generated from the work we had performed on the Korean  Project.
Our  direct  cost of services was $ 15,263 for the period from  March
14,  2001  to  June  30,  2002, which represented  the  direct  costs
incurred on the Korean Project. The most significant item included in
the  direct costs was $10,000 of charges we paid to Qu Corp for  sub-
contract work on the Koran Project.  We contracted Qu Corp to perform
certain  services  including  document  preparation  for  the  Korean
Project  in September of 2001.  We terminated all our contracts  with
Qu  Corp for the Korean Project in May of 2002.  Qu Corp agreed  with
us  that it should only be compensated for work already performed for
$10,000,  and that we should be released from any further liabilities
under  all  contracts we entered with it for the Korean Project.  The
gross  margin for the period from inception to June 30,  2002,  at  $
16,116, was  51% of our revenue from services.

Other income

     We had other income of $810 for the period from inception (March
14,  2001) to June 30, 2002. This was the name use right fee  payable
to  us  by Yellowstone Incorporating Services, Inc. for its right  to
include  Yellowstone in its company name, and its right to  claim  as
our affiliate when it conducts business.

General and administrative expenses

     General  and administrative ("G&A") expenses totaled to  $53,197
for  the  period  from inception (March 14, 2001) to June  30,  2002.
Items included in the G&A expenses for the period from March 14, 2001
(date  of  incorporation) to June 30, 2002 were audit fee of  $4,035,
legal  fees  of  $3,000, salaries of $7,419, SEC filing  expenses  of
$5,852, fees for representative offices (including exclusive and non-
exclusive use of office spaces in Hong Kong, China, and Las Vegas) of
$16,634,  traveling expense of $6,113, stock transfer  agent  set  up
charges  of $966, web site expense of $1,101, incorporation  expenses
$4,205  for  incorporating  our company and  four  subsidiaries,  and
office and other expenses of $3,872.

Loss before cumulative effect on prior year (to December 31, 2001) of
changes in accounting principle

     Our loss before cumulative effect on prior year (to December 31,
2001)  of  change in accounting principle was $36,271 for the  period
from  inception (March 14, 2001) to June 30, 2002. We  incurred  this
loss  because  we  did not generate sufficient revenue  for  services
provided to cover all our costs and expenses.

Cumulative effect on prior year (to December 31, 2001) of changing to
a  different  revenue  recognition method, and  a  different  expense
recognition on service sales transactions

     During  the  second quarter of 2002, we decided  to  change  the
method  of recognizing project revenue from the Completed Performance
Method  to  the  Proportional Performance Method. In connection  with
this  change,  we  also  changed the method  of  recognizing  project
expenses  as required under the Completed Performance Method  to  the
method  of  recognizing  project  expenses  as  required  under   the
Proportional  Performance  Method  (see  note  4  to  the   unaudited
financial  statements for the three months and six months ended  June
30,  2002). The changes were made to better reflect the effort of our
management  in  the  financial statements  on  a  timely  basis.  The
cumulative effect on prior year (to December 31, 2001) resulting from
these changes for the period from inception (March 14, 2001) to  June
30, 2002 was zero.

Loss after cumulative effect on prior year (to December 31, 2001)  of
changes in accounting principle



PAGE-21-





     Our  loss after cumulative effect on prior year (to December 31,
2001)  of  change in accounting principle was $36,271 for the  period
from  inception (March 14, 2001) to June 30, 2002. We  incurred  this
loss  because  we  did not generate sufficient revenue  for  services
provided to cover all our costs and expenses.

Liquidity and Capital Resources

Cash

     We  had  a net increased of $46,906 in our cash position  during
the  six months ended June 30, 2002 as compared to a net increase  of
$48,620  during  the six months ended June 30, 2001.  Form  inception
(March 14, 2001) to June 30, 2002, our net cash position increased by
$78,126.

Net cash paid for operating activities

     We  used  $50,384 of cash for operating activities for  the  six
months  ended June 30, 2002 as compared to $2,400 for the six  months
ended June 30, 2001. The amount of cash used for operating activities
during  the period from inception (March 14, 2001) to June  30,  2002
was $72,635.

Cash flow from investing activities

     We  purchased office equipment with cash in the amount of $1,927
during the six months ended June 30, 2002. We did not spend any  cash
on  investing  activities,  including purchase  of  office  equipment
during  the six months end June 30, 2001. Our total cash purchase  of
office equipment was $2,692 for the period from inception (March  14,
2001) to June 30, 2002.

Cash flow from financing activities

     We  received  net  cash proceeds of $101,930  from  issuance  of
1,166,500  shares  of  our common stock and cash  of  $503  from  the
minority stockholders of one of our subsidiaries, CEP (USA), Inc. for
their  equity investment in this company during the six months  ended
June  30,  2002. During this period, one of our stockholders advanced
cash of $12,383 to us to pay for our expenditures incurred during the
normal  course of business. During this period, we fully repaid  this
amount,  and $3,216 of amount due to this stockholder outstanding  at
the beginning of this period.

     We  received cash proceeds of $51,020 from issuance of 3,000,000
shares of our common stock during the six months ended June 30, 2001.
There were no other financing activities in this period.

     From inception (March 14, 2001) to June 30, 2002, we raised cash
of  $152,950  from  issuance of a total of 4,166,500  shares  of  our
common   stock,  and  received  cash  of  $503  from   the   minority
stockholders  of one of our subsidiaries, CEP (USA), Inc.  for  their
equity  investment in this company. During this period,  one  of  our
stockholders  advanced  cash  of  $15,599  to  us  to  pay  for   our
expenditures incurred during the normal course of business. We  fully
repaid this amount prior to .June 30, 2002

Cash needs for the next twelve months

     As  of  June 30, 2002, we had $78,126 of cash.  This  amount  of
cash  will not be sufficient to cover our cash needs in the  next  12
months  for operating activities before revenues, which is  estimated
at  approximately $220,000, and investing activities of approximately
$4,500, which are for the purchase of equipment and furniture, in the
next twelve months.  In order to meet our estimated cash needs during
this period, we need to accomplish all of the following:

     1.  Completion of the Korean Project currently in progress;

     2.  Commencement  of  work  upon receipt of  the  required  cash
         deposit  from   Vega  Infotek Co. Ltd.,  and  completion  of
         this project;

     3.  Completion of the listing exercise for CEST Co. Ltd.;

     4.  Provision  of  services  to  Wink  (USA),  Inc.  under   the
         consulting agreement we entered into in September of 2002;



PAGE-22-




     5.  Our   wholly  owned  subsidiary,  Yellowstone  (Hong   Kong)
         Limited,  is successfully in securing the contract currently
         under  negotiation  with  a Hong  Kong  consulting  firm  to
         become  a sub-contractor on consulting services for a  fixed
         monthly fee of HK$10,000; and

     6.  Securing  and  completion of an additional assignment  which
         will generate cash revenue to us of at least $30,000 if  the
         listing  exercise  for  Vega  Infotek  Co.  Ltd.  does   not
         materialize.

     We cannot give assurance that we can accomplish all of the above
tasks  to  generate the cash we need for the next 12  months.   There
will  be a shortfall in our cash if we fail to accomplish any one  of
these tasks.  We may need to obtain additional financing in the event
that  we are unable to realize sufficient revenue or collect accounts
receivable.   Furthermore, our ability to satisfy the  redemption  of
future  debt  obligations that we may enter into  will  be  primarily
dependent upon the future financial and operating performance of  our
Company.  Such performance is dependent upon financial, business  and
other general economic factors, many of which are beyond our control.
If  we are unable to generate sufficient cash flow to meet our future
debt service obligations or provide adequate long-term liquidity,  we
will  have  to pursue one or more alternatives, such as  reducing  or
delaying  capital expenditures, refinancing debt, selling  assets  or
operations or raising equity capital.  There can be no assurance that
such  alternatives can be accomplished on satisfactory terms,  if  at
all,  or  in  a  timely  manner.  If we do not have  sufficient  cash
resources when needed, we will not be able to continue our operations
as a going concern.

Seasonality and Quarterly Fluctuations.

    Since  were incorporated in March 2001, we do not have sufficient
operating   history  to  determine  whether  seasonal  and  quarterly
fluctuations exist within our line of business.

                     PART II - OTHER INFORMATION

Item 4 - Submission of Matters to a Vote of Security Holder

     We held an annual meeting of the stockholders held at 2980 South
Rainbow Blvd., Las Vegas, State of Nevada, United States, on May  31,
2002  at  2:30p.m.   During the meeting, the following  matters  were
submitted to voting of our common stock holders:

  1.   Appointment of the following persons as our directors for until
     our next Annual Stockholders' Meeting:

       a.   King Kwok Yu;
       b.   Kai Hon Chan; and
       c.   Ka Yiu Ip

  2.   Appointment of Areson & Co. as our auditors for the year ending
     December 31, 2002.

     The  quorum for the meeting as required in the Company's By-laws
was met.

     The  result  of the voting on each of the matters  submitted  to
voting during the meeting were:
_______________________________________________________________________
                                                   Number of votes (A)
             Matters submitted to voting          For   Against Abstain

   1. Appointment of King Kwok Yu as director     All    None     None
      of the Company for Year 2002

   2. Appointment of Kai Hon Chan as director     All    None     None
      of the Company for Year 2002

   3. Appointment of Ka Yiu Ip as director of     All    None     None
      the Company for Year 2002

   4. Appointment of Areson & Co. as auditors     All    None     None
      of   the   Company  for  the year ending
      December 31, 2002

   (A)   Each  share  of common stock of the Company held  represents
   one vote.
_____________________________________________________________________

     As a result of the voting, it was resolved that:



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  1.   The following persons were appointed as our directors for until
     next Annual Stockholders' Meeting:

       a.   King Kwok Yu;
       b.   Kai Hon Chan; and
       c.   Ka Yiu Ip

  2.   Areson & Co. was appointed as our auditors for the year ending
     December 31, 2002.

Item 6 - Exhibits
__________________________________________________________________________
Exhibit        Name and/or Identification of Exhibit

Number

3      Articles of Incorporation & By-Laws

       a. Articles  of Incorporation of the Company filed  March 13, 2001*

       b.  By-Laws of the Company adopted March 28, 2001*

99     Certification  under Section 906 of the Sarbanes-Oxley  Act
       (18 U.S.C. Section 1350)
__________________________________________________________________________

*   Incorporated by reference to the exhibits to our General Form For
Registration  Of  Securities Of Small Business Issuers  on  Form  10-
SB12G, previously filed with the Commission.



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                             SIGNATURES

     Pursuant  to  the requirements of Section 12 of  the  Securities
Exchange   Act  of  1934,  the  registrant  has  duly   caused   this
Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized.

              YELLOWSTONE CORPORATE SERVICES, INC.
                          (Registrant)

By: /s/ King Kwok Yu
------------------------
King Kwok Yu, President
















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                           CERTIFICATIONS

     I, King Kwok Yu, certify that:

   1.I have reviewed this quarterly report on Form 10-QSB of
     Yellowstone Corporate Services, Inc.;

   2.Based on my knowledge, this quarterly report does not contain
     any untrue statement of a material fact, or omit to state a
     material fact necessary to make the statements made, in light of
     the circumstances under which such statements were made, not
     misleading with respect to the period covered by this quarterly
     report; and

   3.Based on my knowledge, the financial statements, and other
     financial information included in this quarterly report, fairly
     present in all material respects the financial position, results
     of operations, and cash flows of the issuer as of, and for, the
     periods presented in this quarterly report.

   4.I am responsible for establishing and maintaining disclosure
     controls and procedures for the issuer and have:

    (i)   Designed such disclosure controls and procedures to
          ensure that material information relating to the issuer is
          made known to me, particularly during the period in which the
          periodic reports are being prepared;
    (ii)  Evaluated the effectiveness of the issuer's disclosure
          controls and procedures as of September 30, 2002; and
    (iii) Presented in the report our conclusions about the
          effectiveness of the disclosure controls and procedures based
          on my evaluation as of the Evaluation Date;

  5.I have disclosed, based on my most recent evaluation, to the
     issuer's auditors and the audit committee of the board of
     directors (or persons fulfilling the equivalent function):

   (i)  All significant deficiencies in the design or operation
        of internal controls which could adversely affect the
        issuer's ability to record, process, summarize and report
        financial data and have identified for the issuer's auditors
        any material weaknesses in internal controls (none were so
        noted); and
   (ii) Any fraud, whether or not material, that involves
        management or other employees who have a significant role in
        the issuer's internal controls (none were so noted); and

  6.I have indicated in the report whether or not there were
     significant changes in internal controls or in other factors
     that could significantly affect internal controls subsequent to
     the date of our most recent evaluation, including any corrective
     actions with regard to significant deficiencies and material
     weaknesses.


Date:  November 12, 2002

/s/ King Kwok Yu
---------------------
     President and CEO

/s/ Ka Yiu Ip
---------------------
     Chief Financial Officer






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