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


                                   FORM 10-QSB


[X]      QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
         ACT OF 1934 For the quarterly period ended September 30, 2001.

[ ]      TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the
         transition period from _______ to ________.

                           Commission File No. 0-27599


                                  SULPHCO, INC.
      ---------------------------------------------------------------------
                      (Name of the small business issuer.)

         Nevada                                          88-0222729
       ---------                                      ---------------
(State of Incorporation)                    (I.R.S. Employer Identification No.)


                      1650 Meadow Wood Lane, Reno, NV 89502
             -------------------------------------------------------
                    (Address of principal executive offices)

                                  (775)829-1310
                                -----------------
                           (Issuers telephone number)

                                 FilmWorld, Inc.
               50 West Liberty Street, Suite 880, Reno, NV, 90502
       ------------------------------------------------------------------
          (Issuer's former name and address on last filed Form 10-QSB)

Number of shares  outstanding of each of the issuer's  classes of common equity,
as of the latest practicable date: 40,877,170 shares of Common stock issued and
outstanding as of November 19, 2001.

Transitional Small Business Disclosure Format: Yes [  ]   No [X]
<PAGE>

                                     PART I

Item 1.  Financial Statements.




                                  SULPHCO, INC.
                          (A Development Stage Company)

                                     PART 1
                                     Item 1
                              Financial Statements
                               September 30, 2001

         Balance Sheet
         Statement of Operations
         Statement of Cash Flows
         Notes to the Financial Statements



                                       1
<PAGE>


                                  SULPHCO, INC.
                          (A Development Stage Company)

                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                     ASSETS
                                                                  September 30,
                                                                     2001           December 31,
                                                                   (Unaudited)          2000
                                                                 -------------     -------------
<S>                                                              <C>               <C>
Current Assets:
     Cash and cash equivalents                                   $      59,640     $      98,010
     Stock subscription receivables                                    270,000           208,500
     Related party receivables                                       1,757,681                 -
     Other receivables                                                       -            18,435
     Prepaid insurance                                                  66,098                 -
                                                                 -------------     -------------
          Total Current Assets                                       2,153,419           324,945
                                                                 -------------     -------------
Property, Plant, & Equipment:
     Machines and equipment                                            568,628           393,613
     Furniture and fixtures                                             26,458            19,057
     Leasehold improvements                                              9,826                 0
                                                                 -------------     -------------
                                                                       604,912           412,670
     Less: Accumulated depreciation                                     69,191            21,171
                                                                 -------------     -------------

          Total Property, Plant & Equipment                            535,721           391,499
                                                                 -------------     -------------
Other Assets
     Patent costs                                                       65,720            15,843
                                                                 -------------     -------------

          TOTAL ASSETS                                           $   2,754,860     $     732,287
                                                                 =============     =============

</TABLE>


                 See accompanying notes to financial statements

                                       2
<PAGE>

                                  SULPHCO, INC.
                          (A Development Stage Company)

                           BALANCE SHEETS (CONTINUED)

                      LIABILITIES AND STOCKHOLDERS' EQUITY
<TABLE>
<CAPTION>



                                                                  September 30,
                                                                      2001           December 31,
                                                                   (Unaudited)            2000
                                                                  -------------     -------------
<S>                                                              <C>               <C>
Current Liabilities:
     Accounts payable                                            $     175,340     $      18,754
     Accrued expenses                                                   22,336            33,429
     Short term note payable                                         1,000,000                 -
     Contract payable - shareholder                                          -           200,000
     Note payable - shareholder                                              -           100,000
                                                                 -------------     --------------

        Total Current Liabilities                                    1,197,676           352,183
                                                                 -------------     --------------

Stockholders' Equity:
     Preferred stock: 10,000,000 shares authorized,
        $.001 par value, none issued.                                        -                 -
     Common stock: 100,000,000 shares authorized of
        no par value; 36,877,170 and 22,020,000 shares issued
        and outstanding at September 30, 2001 and
        December 31, 2000, respectively                             20,022,462         1,873,299
     Deficit accumulated during the development stage              (11,389,778)       (1,493,195)
                                                                 -------------     --------------

        Subtotal                                                     8,632,684           380,104

     Common stock subscription receivables                          (7,075,500)                -
                                                                 -------------     --------------

        Total Stockholders' Equity                                   1,557,184           380,104
                                                                 -------------     --------------


        TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY               $   2,754,860     $     732,287
                                                                 =============     ==============

</TABLE>


                 See accompanying notes to financial statements


                                       3
<PAGE>


                                  SULPHCO, INC.
                          (A Development Stage Company)

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                    Three Months Ended                 Nine Months Ended              1/13/99
                                               September 30,       September         September        September     (Inception)To
                                                   2001            30, 2000          30, 2001         30, 2000         9/30/01
                                               --------------    -------------     --------------   ------------   --------------

<S>                                            <C>               <C>               <C>              <C>            <C>
Revenue                                        $            -    $           -     $            -   $          -   $            -
                                               --------------    -------------     --------------   ------------   --------------

Operating Expenses:
  Depreciation                                          8,010            1,737             48,020          5,211           69,191
  Issuance of stock and stock options               4,736,413                -          9,064,634              -       10,079,434
  General & administrative                            358,314           27,610            814,241         28,088          996,250
  Research and development                             27,583           25,000            131,985        150,000          407,200
                                               --------------    -------------     --------------   ------------   --------------

      Total Operating Expenses                      5,130,320           54,347         10,058,880        183,299       11,552,075
                                               --------------    -------------     --------------   ------------   --------------

Loss from Operations                               (5,130,320)         (54,347)       (10,058,880)      (183,299)     (11,552,075)

     Other Income (Expense):
      Interest Income                                 105,158                -            162,297              -          162,297
                                               --------------    -------------     --------------   ------------   --------------

Loss before Income Taxes                           (5,025,162)         (54,347)        (9,896,583)      (183,299)     (11,390,778)

Current Income Tax Expense (Benefit)                        -                -                  -              -                -
                                               --------------    -------------     --------------   ------------   --------------

Net Loss                                       $   (5,025,162)   $     (54,347)    $   (9,896,583)  $   (183,299)  $  (11,390,778)
                                               ==============    =============     ==============   ============   ==============

Loss per Common Share -
      basic and diluted                        $        (0.14)   $       (0.00)    $        (0.35)  $      (0.01)
                                               ==============    =============     ==============   ============

Weighted average shares -
     basic and fully diluted                       36,367,425       20,000,000         28,671,405     20,000,000
                                               ==============    =============     ==============   ============

</TABLE>



                 See accompanying notes to financial statements


                                       4
<PAGE>

                                  SULPHCO, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                              Nine Months Ended                   Jan. 13, 1999
                                                                  ------------------------------------------      (Inception) to
                                                                     September 30,        September 30,           September 30,
                                                                         2001                 2000                    2001
                                                                  -------------------   --------------------  --------------------
<S>                                                                 <C>                   <C>                   <C>
Cash flows from operating activities:
Net Loss                                                            $     (9,896,583)     $        (183,299)    $     (11,390,178)
Adjustments to reconcile net loss to net cash
  used in operating activities:
    Depreciation                                                              48,020                  5,211                69,191
    Issuance of stock and stock options for services                       9,063,634                      -            10,078,434
    Interest accrued on receivables                                         (136,348)                     -              (136,348)
    (Increase) Decrease in:
       Receivables                                                            (6,535)                     -               (24,970)
       Prepaid insurance                                                     (66,098)                     -               (66,098)
     Increase (Decrease) in:
       Accounts payable                                                      156,586                      -               175,340
       Accrued liabilities                                                   (11,093)                 8,791                22,336
                                                                    ----------------      -----------------     -----------------

 Net cash used in operating activities                                      (847,417)              (169,297)           (1,270,893)
                                                                    ----------------      -----------------     -----------------

Cash flows from investing activities:
  Purchase of property and equipment                                        (192,242)                     -              (242,581)
  Payments made to develop intangible assets                                 (49,877)                     -               (65,720)
  Loans to related party                                                  (2,480,378)                     -            (2,480,378)
  Repayments from related party loans                                        884,015                      -               884,015
                                                                    ----------------      -----------------     -----------------

 Net cash used in investment activities                                  (1,838,482)                      -            (1,904,664)
                                                                    ----------------      -----------------     -----------------

Cash flows from financing activities:
  Proceeds from issuance of stock                                          1,575,456                      -             1,742,456
  Proceeds from issuance of note payable                                   1,000,000                      -             1,000,000
  Capital contributions                                                            -                217,167               579,168
  Payments on stock subscription receivables                                 490,500                      -               282,000
  Payment on contract payable                                               (200,000)                     -              (250,000)
  Proceeds from advance from related party                                         -                      -               100,000
  Payments on advance from related party                                    (100,000)                     -              (100,000)
  Dividends paid                                                            (118,427)                     -              (118,427)
                                                                    ----------------      -----------------     -----------------

 Net cash provided by financing activities                                 2,647,529                217,167             3,235,197
                                                                    ----------------      -----------------     -----------------

Net increase (decrease) in cash and cash
       equivalents                                                           (38,370)                47,870                59,640
Cash and equivalents at beginning of period                                   98,010                  1,526                     -
                                                                    ----------------      -----------------     -----------------

Cash and equivalents at end of period                               $         59,640      $          49,396     $          59,640
                                                                    ================      =================     =================

</TABLE>


                 See accompanying notes to financial statements

                                       5
<PAGE>

                                  SULPHCO, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
              SEPTEMBER 30, 2001 (UNAUDITED) AND DECEMBER 31, 2000


Note 1 - STATEMENT PREPARATION

The Company has  prepared the  accompanying  financial  statements  with interim
financial  reporting  requirements  promulgated  by the  Securities and Exchange
Commission. The information furnished reflects all adjustments which are, in the
opinion of management,  necessary for a fair presentation of financial  position
and results of operations.

Certain  information  and footnote  disclosures  normally  included in financial
statements prepared in accordance with accounting  principles generally accepted
in the United States 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  December 31, 2000 Annual
Report on Form 10-KSB.  The results of operations for the period ended September
30, 2001 are not  necessarily  indicative of the operating  results for the full
year.


Note 2 - SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

During the nine months ended September 30, 2001, the following occurred:

         The Company issued 2,758,620 shares of common stock for a receivable of
         $2,000,000,  of which $70,000 was  collected  September,  2001,  and an
         additional $270,000 was collected October, 2001.

         Options were  exercised for 9,981,000  shares of common stock for stock
         subscription receivables of $5,415,500.

No amounts were paid for interest or income taxes.


Note 3 - RELATED PARTY LOANS

Loans of $2,300,000 were made to the majority  shareholder  due upon demand,  of
which  $1,000,000  accrues  interest at 8% per annum. At September 30, 2001, the
balance remaining is $1,415,985.

Note 4 - SUBSEQUENT EVENT

Subsequent  to quarter  end,  the  Company  signed a  shareholder,  escrow,  and
exclusive  licensing  agreement with an Italian oil refining  company to start a
jointly owned  company in Europe to market and license the Company's  process in
European Union countries.


Item 2.  Management Discussion and Analysis or Plan of Operation.

         Statements   contained   herein  that  are  not  historical  facts  are
forward-looking  statements,  as that term is defined by the Private  Securities
Litigation  Reform Act of 1995.  Although the Company  believes that expectation
reflected in such forward-looking statements are reasonable, the forward-looking
statements  are subject to risks and  uncertainties  that could cause results to
differ  from  those  projected.   The  Company   cautions   investors  that  any
forward-looking  statements  made by the  Company are not  guarantees  of future
performance  and that  actual  results may differ  materially  from those in the
forward-looking   statements.   Such  risks  and  uncertainties   include,  with
limitation:   well  established   competitors  who  have  substantially  greater
financial  resources and longer operating  histories,  changes in the regulatory
environment in which the Company competes, and access to sources of capital.

Plan of Operation

1.       Completion of Reorganization

         During the first quarter of 2001,  the Company  completed its change in
business focus from the  entertainment  industry to its participation in the oil
refining  industry.  In this regard,  the  Company's  name has been changed from
FilmWorld,  Inc. to  SulphCo.,  Inc. As of the filing of this Form  10-QSB,  the
Company's  shares are traded on the Over the  Counter  Bulletin  Board under the
symbol SLPH.



                                       6
<PAGE>

2.       Business Plans

         At this point,  the Company has designed  and built a small  proto-type
industrial unit that is successfully  treating 200 to 300 barrels of diesel fuel
per day at the Iplom oil refinery  plant  located  outside of Genoa,  Italy.  In
addition, the Company has designed and built a larger industrial unit which will
treat up to 3,000  barrels of diesel oil per day that will be  installed at that
same plant and should be operating before the end of 2001.

         The Company  intends to market its  industrial  size units  through its
business relationships to be established with third parties. In this regard, the
Company has joined with an Italian oil refining company to start a jointly owned
company in Europe to market and license the Company's  process in European Union
countries.  In  addition,  the  Company  will pursue the  creation of  long-term
relationships  with other  well-established  companies  actively involved in the
refining  and  marketing of  petroleum  products in the United  States and other
countries throughout the world.

         The  Company  estimates  that its  operating  expenses  (not  including
expenses  related to issuances of common  stock and stock  options,  which total
$9,064,634  for the  first  nine  months  of the year  2001) for 2001 will be as
follows:

                           Wages                             $  298,000
                           R & D                             $  225,000
                           Outside Serv.                     $  135,000
                           G & A                             $  494,000
                           Depreciation                      $   65,000
                           Total                             $1,317,000

         Such numbers are estimate  only and do not include any charges  related
to stock options that may or may not be granted during the year.  Actual figures
likely will vary as the Company's business  develops.The Company intends to fund
operations  with cash generated  from the private sales of the Company's  common
stock and such cash should be sufficient to meet the Company's  operating  needs
for the next 12 months.

         The time  frames set forth above may be  adversely  affected by factors
such as unforeseen delays in the design of the Beta testing and industrial units
and unforeseen  problems which are discovered when the Beta and industrial units
are tested.

         The Company's  plans also could be adversely  impacted by the patenting
process for the devises and methods  which  comprise the  Company's  proprietary
technology. In this regard, the need to keep aspects of the Company's technology
secret during the patenting process could delay the Company's plans to bring its
proprietary technology to market.

3. Research and Development.

         The Company will continue its research and  development  program during
2001 in order to facilitate the development of the design and  manufacturing  of
industrial units which embody the Company's proprietary  technology.  Management
anticipates  that its  research  and  development  costs  will be  approximately
$225,000 in 2001. As stated above, the Company will pay for said costs with cash
it has received from the private sale of its common stock.

4. Facilities and Personnel.

         In late  February and early March of 2001,  the Company  moved into its
new facility at 1650 Meadow Wood Lane, Reno,  Nevada. The Company new facilities
include a research  laboratory as well as the Company's  business  offices.  The
Company  expect to employee  approximately  12 people at any one time as part of
its business  plans for 2001,  though the Company may  experience an increase or
decrease  in that  number as its  needs  require  and as is  normal  in  general
business operations.

5. Changes In Operating Expense

         At the end of the  third  quarter  of  2001,  the  Company's  operating
expense totaled $10,058,880.  This included $9,064,634 booked in connection with
the issuance of stock and stock options,  non-cash expenses the Company incurred
in connection  with stock  options  granted and issued to officers and directors
and stock  issued for rights to  technology.  The expense for the options is the
difference  between  the  market  price of the  Company's  stock at the time the
options were granted and the option price for the shares  available  pursuant to
the options. The difference between the option price and the market price at the
time the options were  granted is booked as an item of operating  expense to the
Company.

         The  General and  Administrative  expense of $814,241 at the end of the
third quarter of 2001 was considerably significantly higher than the same period
in the last year due to the fact that the Company had no business  activity that
period.




                                       7
<PAGE>


                                    PART II

Item 1.  Legal Proceedings.

         The  Company is not party to,  and none of the  Company's  property  is
subject to, any pending or threatened  legal,  governmental,  administrative  or
judicial  proceedings  that  could have a  materially  adverse  effect  upon the
Company's financial condition or operation, except as follows:

         On or about November 4, 1999, the Kidani Trust, Clarence E. Jackson and
Robert H. Nakata  filed a complaint in the Circuit  Court of the First  Circuit,
State of Hawaii naming themselves as plaintiffs and Daniel  Patterson,  Kathleen
Patterson and the Company,  under its former name,  American  Pacific  Financial
Services,  Inc.("APFS")  as  defendants.  The  action is listed as civil  number
99-4110-11  in that  court.  In  that  complaint,  plaintiffs  allege  that  the
Patterson  solicited money from plaintiff for investment in a company named Blue
Parrot. Plaintiffs allege that Blue Parrot is "an unincorporated related company
to APFS."  Plaintiff  claim that they gave  Patterson  $160,000 and that the Mr.
Patterson  later executed a promissory note in favor of plaintiffs in the amount
of $140,000.  Plaintiffs claim that Mr. Patterson  executed that promissory note
as "CEO  of  APFS."  Plaintiffs  seek  to  collect  on  that  note  against  all
defendants.  Plaintiff complaint lists counts for breach of contract, securities
fraud,  civil conspiracy and unfair business  practices.  Plaintiffs'  complaint
prays for an award of "special,  consequential,  general and  punitive  damages,
plus treble damages pursuant to Chapter 480 of the Hawaii Revised Statutes, plus
their costs and attorneys  fees.  Mr.  Patterson did not make  management of the
Company aware of the existence of this  complaint.  This  litigation was settled
and a "Stipulation for Dismissal of the Case With Prejudice as to All Claims and
Parties"  was  filed  with the  court on  August 8,  2001.  The  Company  has no
obligations or duties under the terms of the settlement.

         On or about June 22, 2001,  the Company filed a complaint  against Amir
I. Elgindy, also known as Anthony Elgindy and Tony Elgindy and doing business as
Pacific Equity  Investigations and  InsideTruth.com.  The complaint was filed in
the United States District Court for the District of Nevada.  Mr. Elgindy failed
to file an answer to the  complaint and his default was entered on or about July
19, 2001. Thereafter,  on or about Ocober 4, 2001, Mr. Elgindy filed a motion to
have the default set aside and to dismiss the complaint.  The Company  responded
to the  motion in October of 2001 by filing an  amended  complaint  against  Mr.
Elgindy and unnamed  "doe"  defendants.  In the amended  complaint,  the Company
outlines  causes of action  against  Mr.  Elgindy  for  fraud,  deceptive  trade
practices,  trade  disparagement and interference  with prospective  contractual
and/or economic advantage. In the prayer for relief in the amended complaint the
Company seeks an award of general and specific damages in an amount in excess of
$75,000  as well as an award of  punitive  damages  and its costs and  attorneys
fees.


Item 2.  Changes in Securities.

         None.

Item 3.  Defaults Upon Senior Securities.

         None.

Item 4.  Submission of Matter to a Vote of the Securities Holders.

         No matter  was  submitted  to a Vote of the  securities  holders in the
         third quarter of 2001.

Item 6.  Exhibits and Reports on Form 8-K.

         (a) Exhibits.

         (b) Reports on Form 8-K.

         During  the third  quarter  of 2001 the  Company  filed  the  following
reports on Form 8-K:

         1.  Form  8-K  filed  September  7,  2001.  Information  under  Item 6,
Resignation of Registrant's Directors,  was included in this Form 8-K filing. No
financial statements were necessary as part of this filing.

         2.  Form 8-K  filed  September  12,  2001.  Information  under  Item 6,
Resignation of Registrant's Directors,  was included in this Form 8-K filing. No
financial statements were necessary as part of this filing.



                                       8
<PAGE>

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



November 19, 2001                 SULPHCO, INC.

                                  /s/ Rudolph W. Gunnerman
                                  ------------------------------
                                  By: Rudolph W. Gunnerman
                                  Its: Chairman of the Board






                                       9
<PAGE>