U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

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

     For the quarterly period ended December 31, 2001

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

     For the transition period from ____________ to ______________

                         Commission File No. 2-93231-NY

                        FASHION TECH INTERNATIONAL, INC.
        (Exact name of small business issuer as specified in its charter)

                 Nevada                                87-0395695
    (State or Other Jurisdiction of                   (IRS Employer
     Incorporation or Organization)                Identification No.)

                  1340 East 130 North, Springville, Utah 84663
                    (Address of principal executive offices)

                                 (801) 364-9262
                           (Issuer's telephone number)

                                 Not Applicable
      (Former name, address and fiscal year, if changed since last report)

Check  whether  the issuer  (1) has filed all  reports  required  to be filed by
Section 13 or 15(d) of the Exchange  Act during the  preceding 12 months (or for
such shorter period that the issuer 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:

Check whether the registrant has filed all documents and reports  required to be
filed by  Sections  12,  13,  or 15(d) of the  Exchange  Act  subsequent  to the
distribution of securities under a plan confirmed by a court. Yes[ ] No[ ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest  practicable  date: As of December 31, 2001 there were
3,591,082 shares of common stock.


<PAGE>


                                   FORM 10-QSB
                        FASHION TECH INTERNATIONAL, INC.

                                      INDEX
                                                                      Page

PART I.       Financial Information                                      3

              Financial Statements                                       3

              Balance Sheets - December 31, 2001 and                     3
              March 31, 2001

              Statements of Operations - Three Months and Nine           4
              Months Ended December 31, 2001 and 2000, and Beginning
              of Development Stage to December 31, 2001

              Statements of Cash Flows - Nine Months Ended December      5
              31, 2001 and 2000, and Beginning of Development Stage
              to December 31, 2001

              Notes to Consolidated Financial Statements                 6

              Management's Discussion and Analysis of                    9
              Financial Condition and Results of Operations

PART II.      Other Information                                         10

Signatures                                                              10



                                       2
<PAGE>


                                     PART I.
                              Financial Information

                         FASHION TECH INTERNATIONAL, INC
                          [A Development Stage Company]

                       UNAUDITED CONDENSED BALANCE SHEETS


                                     ASSETS

                                                    December 31,      March 31,
                                                        2001            2001
                                                     -----------     -----------
CURRENT ASSETS:
   Cash in bank                                     $        276    $        48
                                                     -----------     -----------
          Total Current Asset                                276             48
                                                     -----------     -----------

                                                    $        276    $        48
                                                     -----------     -----------

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
   Accounts payable                                 $        500    $       696
   Advances - related party                               11,300          6,300
                                                     -----------     -----------
          Total Current Liabilities                       11,800          6,996
                                                     -----------     -----------

STOCKHOLDERS' DEFICIT:
 Preferred stock, $.001 par value, 5,000,000 shares
     authorized, no shares issued and outstanding              -              -
 Common stock, $.001 par value, 120,000,000 shares
     authorized, 3,591,082 shares issued and
     outstanding                                           3,591          3,591
   Capital in excess of par value                        550,448        550,448
   Retained deficit                                     (413,549)      (413,549)
   Deficit accumulated during the development stage     (152,014)      (147,438)
                                                     -----------     -----------
          Total Stockholders' Deficit                    (11,524)        (6,948)
                                                     -----------     -----------
                                                    $        276    $        48
                                                     -----------     -----------


Note:The  balance  sheet  as of  March  31,  2001 was  taken  from  the  audited
     financial statements at that date and condensed


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

                                       3
<PAGE>


                         FASHION TECH INTERNATIONAL, INC
                          [A Development Stage Company]

                  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS

                                                                From the
                                                                Re-entering of
                         For the Three         For the Nine     the development
                         Months Ended          Months Ended    stage on April 1,
                         December 31,          December 31,     1985 through
                    _____________________ _____________________ December 31,
                        2001       2000       2001       2000        2001
                    ---------- ---------- ---------- ---------- -----------
REVENUE              $       -  $       -  $       -  $       -  $        -
                    ---------- ---------- ---------- ---------- -----------
COST OF SALES                -          -          -          -           -
                    ---------- ---------- ---------- ---------- -----------
GROSS PROFIT                 -          -          -          -           -

EXPENSES:
  General and
    Administrative           -      3,020      4,576      8,363     153,524
                    ---------- ---------- ---------- ---------- -----------
LOSS FROM
  OPERATIONS
  BEFORE OTHER
  INCOME
  (EXPENSES)                 -     (3,020)    (4,576)    (8,363)   (153,524)
                    ---------- ---------- ---------- ---------- -----------
OTHER INCOME
  (EXPENSE):
  Interest Expense           -          -          -          -        (434)
  Gain on disposal
    of assets                -          -          -          -       1,944
                    ---------- ---------- ---------- ---------- -----------
TOTAL OTHER
  INCOME (EXPENSE)           -          -          -          -       1,510
                    ---------- ---------- ---------- ---------- -----------
LOSS BEFORE
  INCOME TAXES               -     (3,020)    (4,576)    (8,363)   (152,014)

CURRENT TAX
  EXPENSE                    -          -          -          -           -

DEFERRED TAX
  EXPENSE                    -          -          -          -           -
                    ---------- ---------- ---------- ---------- -----------

NET LOSS             $       -  $  (3,020) $  (4,576) $  (8,363) $ (152,014)
                    ---------- ---------- ---------- ---------- -----------

LOSS PER COMMON
  SHARE              $       -  $    (.00) $    (.00) $    (.00) $     (.15)
                    ========== ========== ========== ========== ===========

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

                                       4
<PAGE>


                         FASHION TECH INTERNATIONAL, INC
                          [A Development Stage Company]

                  UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
<TABLE>
<S>                                               <C>        <C>        <C>
                                                                             From the
                                                                           Re-entering of
                                                      For the Nine           Development
                                                      Months Ended        Stage on April 1,
                                                      December 31,          1985 Through
                                                  _____________________     December 31,
                                                    2001        2000           2001
                                                  ---------- ---------- ----------------
Cash Flows From Operating Activities:
   Net loss                                       $  (4,576) $  (8,363) $      (152,014)
   Adjustments to reconcile net loss to net cash
     used by operating activities:
      Non-cash expenses                                   -          -           50,000
      Change in assets and liabilities:
         (Decrease) in accounts payable                (196)       487           (1,444)
         Increase in accrued interest                     -          -              434
                                                  ---------- ---------- ----------------
          Net Cash Flows Used by Operating
            Activities                               (4,772)    (7,876)        (103,024)
                                                  ---------- ---------- ----------------

Cash Flows From Investing Activities                      -          -                -
          Net Cash Flows Provided (Used) by
            Investing Activities                          -          -                -
                                                  ---------- ---------- ----------------

Cash Flows From Financing Activities:
   Proceeds from common stock issuance                    -          -           70,000
   Proceeds from notes payable                            -          -           22,000
   Advances from related-party                        5,000      3,700           11,300
                                                  ---------- ---------- ----------------
          Net Cash Flows Provided by
            Financing Activities                      5,000      3,700          103,300
                                                  ---------- ---------- ----------------
Net Increase (Decrease) in Cash                         228     (4,176)             276

Cash at Beginning of Period                              48      4,218                -
                                                  ---------- ---------- ----------------
Cash at End of Period                             $     276  $      42  $           276
                                                  ========== ========== ================


Supplemental Disclosures of Cash Flow Information:
   Cash paid during the period for:
     Interest                                     $       -  $      -   $             -
     Income taxes                                 $       -  $      -   $             -
</TABLE>
Supplemental Schedule of Noncash Investing and Financing Activities:
   For the nine months ended December 31, 2001:
      None

   For the nine months ended December 31, 2000:
      None


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

                                       5
<PAGE>


                         FASHION TECH INTERNATIONAL, INC
                          [A Development Stage Company]

                NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     Organization  -  Fashion  Tech  International,   Inc  ("the  Company")  was
     organized  under the laws of the State of Utah on April 22,  1983 under the
     name  Portofino  Investment,  Inc.  The name of The  Company was changed to
     Fashion  Tech  International,  Inc on January  31,  1984.  During  1999 the
     Company changed its domicile to the State of Nevada.  The Company currently
     has no  on-going  operations  and is  considered  to  have  re-entered  the
     development stage as defined in SFAS No. 7 on April 1, 1985. The Company is
     currently   seeking   business    opportunities   or   potential   business
     acquisitions.

     Condensed Financial Statements - The accompanying financial statements have
     been prepared by the Company  without audit.  In the opinion of management,
     all adjustments (which include only normal recurring adjustments) necessary
     to present  fairly the financial  position,  results of operations and cash
     flows at December  31,  2001 and 2000 and for the  periods  then ended have
     been made.

     Certain information and footnote disclosures normally included in financial
     statements  prepared  in  accordance  with  generally  accepted  accounting
     principles  have been  condensed  or omitted.  It is  suggested  that these
     condensed  financial  statements be read in conjunction  with the financial
     statements  and notes  thereto  included  in the  Company's  March 31, 2001
     audited  financial  statements.  The results of operations  for the periods
     ended  December  31, 2001 and 2000 are not  necessarily  indicative  of the
     operating results for the full year.

     Loss Per Share - The computation of loss per share of common stock is based
     on the weighted  average  number of shares  outstanding  during the periods
     presented,  in accordance with Statement of Financial  Accounting Standards
     No. 128, "Earnings Per Share" [See Note 6].

     Cash and Cash  Equivalents  - For purposes of the  statement of cash flows,
     the Company  considers all highly liquid debt investments  purchased with a
     maturity of three months or less to be cash equivalents.

     Recently Enacted Accounting  Standards - Statement of Financial  Accounting
     Standards  ("SFAS") No. 140,  "Accounting  for  Transfers  and Servicing of
     Financial Assets and Extinguishments of Liabilities - a replacement of FASB
     Statement No. 125", SFAS No. 141,  "Business  Combinations",  SFAS No. 142,
     "Goodwill and Other Intangible Assets",  and SFAS No. 143,  "Accounting for
     Asset Retirement Obligations", were recently issued. SFAS No. 140, 141, 142
     and 143 have no current applicability to the Company or their effect on the
     financial statements would not have been significant.

     Accounting  Estimates - The  preparation of unaudited  condensed  financial
     statements in conformity  with  generally  accepted  accounting  principles
     requires  management  to make  estimates  and  assumptions  that affect the
     reported amounts of assets and  liabilities,  the disclosures of contingent
     assets and  liabilities  at the date of the unaudited  condensed  financial
     statements  and the reported  amount of revenues  and  expenses  during the
     reported period. Actual results could differ from those estimated.

     Restatement - The unaudited condensed financial  statements for all periods
     have been  restated  to reflect a 100 for 1 reverse  stock  split which was
     effective during April 1999.

                                       6
<PAGE>


                         FASHION TECH INTERNATIONAL, INC
                          [A Development Stage Company]

                NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]

     Reclassification  - The financial  statements for periods prior to December
     31,  2001  have  been   reclassified   to  conform  to  the   headings  and
     classifications used in the December 31, 2001 unaudited condensed financial
     statements.

NOTE 2 - CAPITAL STOCK

     On April  28,  1999 the  company  amended  its  Articles  of  Incorporation
     changing  the par value from $.005 to $.001.  The company  also  authorized
     5,000,000  shares of preferred stock with a par value of $.001. The company
     also changed its domicile from Utah to Nevada.

     On April 28, 1999,  the Company  authorized a 1 for 100 reverse stock split
     thus reducing the number of shares outstanding at that time to 591,082. The
     unaudited condensed financial statements for all periods have been restated
     to reflect the change.

     On June 7, 1999,  the Company issued  3,000,000  shares of common stock for
     conversion of a $22,000 note payable and $434 of accrued interest.

NOTE 3 - INCOME TAXES

     The Company  accounts  for income  taxes in  accordance  with  Statement of
     Financial  Accounting Standards No. 109 "Accounting for Income Taxes". SFAS
     No. 109 requires the Company to provide a net deferred tax  asset/liability
     equal to the expected  future tax  benefit/expense  of temporary  reporting
     differences  between  book and tax  accounting  methods  and any  available
     operating  loss or tax credit  carryforwards.  At December  31,  2001,  the
     Company has available unused operating loss  carryforwards of approximately
     $21,000,  which may be  applied  against  future  taxable  income and which
     expire in various years through 2021.

     The amount of and ultimate  realization  of the benefits from the operating
     loss carryforwards for income tax purposes is dependent,  in part, upon the
     tax laws in effect,  the future  earnings of the Company,  and other future
     events,  the  effects  of  which  cannot  be  determined.  Because  of  the
     uncertainty  surrounding  the  realization  of the loss  carryforwards  the
     Company has  established a valuation  allowance  equal to the tax effect of
     the loss  carryforwards  and,  therefore,  no  deferred  tax asset has been
     recognized  for the loss  carryforwards.  The net  deferred  tax assets are
     approximately  $7,000 as of December 31, 2001 with an offsetting  valuation
     allowance  of the  same  amount,  resulting  in a change  in the  valuation
     allowance of approximately $1,600 during 2001.

NOTE 4 - RELATED PARTY TRANSACTIONS

     Advances From Related Party - During the  nine-month  period ended December
     31, 2001, a shareholder of the Company has made advances totaling $5,000 to
     the Company.  No interest is being accrued on these  advances.  At December
     31, 2001, the total amount owing the shareholder for advances is $11,300.

     Management  Compensation  - During the periods ended  December 31, 2001 and
     2000, the Company did not pay any compensation to any  officer/directors of
     the Company.

                                       7
<PAGE>


                         FASHION TECH INTERNATIONAL, INC
                          [A Development Stage Company]

                NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 4 - RELATED PARTY TRANSACTIONS [Continued]

     Office  Space - The  Company has not had a need to rent  office  space.  An
     officer of the Company is allowing the Company to use his home as a mailing
     address, as needed, at no expense to the Company.

NOTE 5 - GOING CONCERN

     The  accompanying   unaudited  condensed  financial  statements  have  been
     prepared in conformity with generally accepted accounting principles, which
     contemplate  continuation of the Company as a going concern.  However,  the
     Company,  has  incurred  losses  since its  inception  and has no  on-going
     operations.  Further,  the  Company has  current  liabilities  in excess of
     current assets.  These factors raise substantial doubt about the ability of
     the Company to continue as a going concern.  In this regard,  management is
     seeking  potential  business  opportunities  and is  proposing to raise any
     necessary  additional funds not provided by operations through loans and/or
     through  additional  sales of its common stock.  There is no assurance that
     the Company will be successful in raising  additional  capital or achieving
     profitable operations.  The unaudited condensed financial statements do not
     include  any  adjustments  that  might  result  from the  outcome  of these
     uncertainties.

NOTE 6 - LOSS PER SHARE

     The  following  data show the amounts used in computing  loss per share and
     the effect on income and the weighted  average number of shares of dilutive
     potential  common  stock for the three and nine months  ended  December 31,
     2001 and 2000 and from the  re-entering  of  development  stage on April 1,
     1985 through December 31, 2001:
<TABLE>
<S>                           <C>         <C>        <C>        <C>         <C>
                                                                            From the
                                                                            re-entering of
                                   For the Three          For the Nine      the development
                                   Months Ended           Months Ended      stage on April 1,
                                   December 31,           December 31,      1985 through
                              ______________________ _____________________  December 31,
                                  2001       2000       2001        2000        2001
                              ----------  ---------- ---------- ----------  -----------
     Loss from continuing
       operations available to
       common stockholders
       (numerator)             $       -   $  (3,020) $  (4,576) $  (8,363) $  (152,014)
                              ----------  ---------- ---------- ----------  -----------
     Weighted average
       number of common
       shares outstanding used
       in earnings per share
       during the period       3,591,082   3,591,082  3,591,082  3,591,082    1,021,944
                             ===========  ========== =========== =========  ===========
</TABLE>
     Dilutive  loss per share was not  presented,  as the  Company had no common
     equivalent   shares  for  all  periods  presented  that  would  effect  the
     computation of diluted loss per share.

                                       8
<PAGE>


                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Results of Operations

Nine Month Periods Ended December 31, 2001 and 2000

The Company had no revenue from continuing operations for the nine-month periods
ended December 31, 2001 and 2000.

General and  administrative  expenses for the nine month periods ended  December
31, 2001 and 2000,  consisted  of general  corporate  administration,  legal and
professional  expenses,  and accounting and auditing costs.  These expenses were
$4,576 and $8,363 for the  nine-month  periods ended December 31, 2001 and 2000,
respectively.

As a result of the foregoing factors,  the Company realized a net loss of $4,576
for the nine months ended December 31, 2001, as compared to a net loss of $8,363
for the same period in 2000.

Liquidity and Capital Resources

During the nine months ended  December 31,  2001, a  shareholder  of the Company
advanced  $5,000  to  the  Company.  During  the  year  ended  March  2001,  the
shareholder  advanced  a total of $6,300 to the  Company.  The  advances  to the
Company do not accrue interest.  At December 31, 2001, the Company had a working
capital  deficit of $11,524,  as compared to a working capital deficit of $6,948
at March 31, 2001.  This decrease in working  capital is attributable to general
and administrative expenses incurred during the none-month period ended December
31, 2001, without any increase in cash.

The Company does not have sufficient cash to meet its operational  needs for the
next twelve months.  Management will attempt to raise additional capital through
loans from related parties, debt financing, equity financing or a combination of
financing  options.  Currently,  there  are no  understandings,  commitments  or
agreements  for such an infusion of capital and there be no  assurances  to that
effect.  Unless the  Company  can obtain  additional  financing,  its ability to
continue as a going concern after the next twelve-month period is doubtful.  The
Company's need for capital may change dramatically if and during that period, it
acquires an interest in a business opportunity.

The Company's  current  operating plan is to (i) handle the  administrative  and
reporting  requirements  of a public  company,  and (ii)  search  for  potential
businesses,  products,  technologies and companies for acquisition.  At present,
the Company has no understandings, commitments or agreements with respect to the
acquisition  of any business  venture,  and there can be no  assurance  that the
Company will identify a business venture suitable for acquisition in the future.
Further,  there can be no  assurance  that the Company  would be  successful  in
consummating  any  acquisition  on  favorable  terms  or that it will be able to
profitably manage any business venture it acquires.

Forward-Looking Statements

This Form 10-QSB includes, without limitation, certain statements containing the
words "believes", "anticipates",  "estimates", "intends", and words of a similar
nature,  constitute  "forward-looking  statements"  within  the  meaning  of the
Private  Securities  Litigation  Reform Act of 1995.  This Act  provides a "safe
harbor"  for  forward-looking  statements  to  encourage  companies  to  provide
prospective  information  about  themselves  so  long  as  they  identify  these
statements  as forward  looking and provide  meaningful,  cautionary  statements
identifying important factors that could cause actual results to differ from the
projected results.  All statements other than statements of historical fact made
in this Form 10-QSB are  forward-looking.  In particular,  the statements herein
regarding  industry  prospects  and future  results of  operations  or financial
position are  forward-looking  statements.  Forward-looking  statements  reflect
management's  current expectations and are inherently  uncertain.  The Company's
actual results may differ significantly from management's expectations.

                                       9
<PAGE>


                           PART II. OTHER INFORMATION

Exhibits and Reports on Form 8-K:  None

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed  on its  behalf  by the  undersigned  thereunto  duly
authorized.

                                          FASHION TECH INTERNATIONAL, INC.

Date:  February 13, 2002                  By: /s/ George R. Horton, Secretary


                                       10