UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   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 - March 31, 2001

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

            For the transition period from          to

                        Commission File Number: 000-27837

                            LAKSHMI ENTERPRISES, INC.
        (Exact name of small business issuer as specified in its charter)

                  Delaware                               95-4738432
      (State or other jurisdiction of      (IRS Employer Identification No.)
       incorporation or organization)

                     110 E. 55th Street, New York, NY 10022
                    (Address of principal executive offices)

                                 (212) 906-8155
                           (Issuer's telephone number)


Check  whether the issuer (1) filed all reports  required to be filed by Section
12, 13 or 15 (d) of the  Exchange Act during the past 12 months (or 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

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after 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 March 31, 2001: 12,000,000 shares $ .001 par value common stock.

       Transitional Small Business Disclosure Format (check one) Yes No X



<PAGE>


                            LAKSHMI ENTERPRISES, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                                TABLE OF CONTENTS

                                                                          PAGE
PART I.        Financial Information

    Item 1.    Financial Statements                                         3

               Independent Accountant's Report                              3

               Balance Sheets as of March 31, 2001
               (Unaudited) and December 31, 2000                            4

               Unaudited  Statements  of  Operations  for the  three
               months  ended  March 31,  2001 and 2000,  and for the
               period from May 9, 1997 (Inception)
               to March 31, 2001                                            5

               Unaudited Statement of
               Changes in Stockholders Deficiency
               for the period from May 9, 1997 (Inception)
               to March 31, 2001                                            6

               Unaudited  Statements  of Cash  Flows  for the  three
               months  ended  March  31,  2001  and 2000 and for the
               period from May 9, 1997 (Inception)
               to March 31, 2001                                            7

               Notes to Financial Statements                                8

   Item 2.     Management's Discussion and Analysis
               or Plan of Operation                                         9

PART II.       Other Information                                           10

   Item 6.      Exhibits and Reports on Form 8-K                           10

Signatures                                                                 11







                                       2

<PAGE>


                                     PART I
                              FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS


                         INDEPENDENT ACCOUNTANTS' REPORT


To the Board of Directors of:
  Lakshmi Enterprises, Inc.
  (a development stage company)

We have reviewed the accompanying balance sheet of Lakshmi Enterprises,  Inc. (a
development  stage  company) as of March 31, 2001 and the related  statements of
operations  and cash  flows for the three  months  then ended and for the period
from May 9, 1997 (inception) to March 31, 2001.  These financial  statements are
the responsibility of the Company's management.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A review  of  interim  financial
information consists principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with  generally  accepted  auditing  standards,  the  objective  of which is the
expression of an opinion  regarding the financial  statements  taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the  accompanying  financial  statements  in order  for them to be in
conformity with generally accepted accounting principles.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 3 to the
financial   statements,   the  Company  is  a  development  stage  company  with
accumulated  operating  losses of  $73,670,  a  working  capital  deficiency  of
$53,660,  and a  stockholders  deficiency  of $53,660 at March 31,  2001.  These
conditions raise  substantial doubt about the Company's ability to continue as a
going concern.  Management's  plans concerning this matter are also described in
Note 3. The  accompanying  financial  statements do not include any  adjustments
that might result from the outcome of this uncertainty.

/s/ Weinberg & Company, P.A.
----------------------------
WEINBERG & COMPANY, P.A.

Boca Raton, Florida
June 14, 2001

                                       3

<PAGE>

<TABLE>
<CAPTION>
                            LAKSHMI ENTERPRISES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS




                                     ASSETS

                                                    March 31, 2001  December 31,
                                                      (Unaudited)       2000
                                                    --------------  ------------
<S>                                                 <C>             <C>
TOTAL ASSETS                                        $         -     $      -
------------                                        ==============  ============



LIABILITIES AND STOCKHOLDERS' DEFICIENCY

CURRENT LIABILITIES
   Accrued expenses                                 $        5,942  $    33,519
   Loan payable to stockholder(s)                           47,718       15,689
                                                    --------------  ------------
TOTAL CURRENT LIABILITIES                                   53,660       49,208
                                                    --------------  ------------

STOCKHOLDERS' DEFICIENCY

   Preferred stock, $0.001 par value, 8,000,000
    shares authorized, none issued and outstanding            -              -
  Common stock, $0.001 par value, 100,000,000 shares
    authorized, 12,000,000 issued and outstanding           12,000       12,000
   Additional paid-in capital                               18,010       18,010
   Accumulated deficit during development stage            (73,670)     (69,218)
                                                           (43,660)     (39,208)
   Less stock subscriptions receivable                     (10,000)     (10,000)
                                                    --------------  ------------
TOTAL STOCKHOLDERS' DEFICIENCY                             (53,660)     (49,208)
                                                    --------------  ------------

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY      $         -     $      -
----------------------------------------------      ==============  ============
</TABLE>



                 See accompanying notes to financial statements.

                                        4


<PAGE>


<TABLE>
<CAPTION>
                            LAKSHMI ENTERPRISES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                             STATEMENT OF OPERATIONS
                                   (UNAUDITED)


                                                                                        For the Period
                                                                                       From May 9, 1997
                                       For the Three Months     For the Three Months    (Inception) to
                                       Ended March 31, 2001     Ended March 31, 2000     March 31, 2001
                                       --------------------     --------------------   ----------------
<S>                                    <C>                      <C>                    <C>
REVENUES                               $               -        $               -      $           -
                                       --------------------     --------------------   ----------------
EXPENSES

   Accounting fees                                      420                    2,000             16,331
   Bank charges                                        -                        -                   161
   Consulting fees                                     -                        -                13,888
   Legal fees                                         4,032                    3,000             36,100
   Office supplies                                     -                         750                750
   Rents                                               -                       2,400              3,900
   Stock transfer fee                                  -                        -                 2,540
                                       --------------------     --------------------   ----------------

TOTAL OPERATING EXPENSES                              4,452                    8,150             73,670
                                       --------------------     --------------------   ----------------

NET INCOME (LOSS)                      $             (4,452)    $             (8,150)  $        (73,670
-----------------                      ====================     ====================   ================

Net loss per common share -
  basic an diluted                     $               -        $               -      $           (.02)
                                       ====================     ====================   ================
Weighted average number of common
  shares outstanding -
  basic and diluted                              12,000,000                4,000,000          4,277,698
                                       ====================     ====================   ================
</TABLE>



                 See accompanying notes to financial statements.

                                        5

<PAGE>

<TABLE>
<CAPTION>
                            LAKSHMI ENTERPRISES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIENCY
          FOR THE PERIOD FROM MAY 9, 1997 (INCEPTION) TO MARCH 31, 2001
                                   (UNAUDITED)


                                                                            ACCUMULATED
                                      COMMON STOCK           ADDITIONAL   DEFICIT DURING        LESS
                                 ---------------------         PAID-IN       DEVELOPMENT    SUBSCRIPTIONS
                                 SHARES         AMOUNT        CAPITAL         STAGE          RECEIVABLE       TOTAL
                                ---------     ---------     -----------   --------------    -------------   --------
<S>                             <C>           <C>           <C>           <C>               <C>             <C>
Common stock issued for cash    1,000,000     $   1,000     $     (990)   $            -    $        (10)   $      -
                                ---------     ---------     -----------   --------------    -------------   --------

Balance, December 31, 1997      1,000,000         1,000           (990)                -             (10)          -
                                ---------     ---------     -----------   --------------    -------------   --------

Balance, December 31, 1998      1,000,000         1,000           (990)                -             (10)          -

Common stock issued for cash    1,000,000         1,000         19,000                 -              10      20,010

Net loss for the year ended
   December 31, 1999                    -             -               -          (27,549)              -     (27,549)
                                ---------     ---------     -----------   --------------    -------------   --------
Balance, December 31, 1999      2,000,000         2,000          18,010          (27,549)              -      (7,539)

Common stock issued for
   subscription receivable     10,000,000        10,000               -                -         (10,000)          -

Net loss for the year ended
   December 31, 2000                                                             (41,669)              -     (41,669)
                                ---------     ---------     -----------   --------------    -------------   --------
  Balance, December 31, 2000   12,000,000     $  12,000     $    18,010   $      (69,218)        (10,000)   $(49,208)

Net loss for the three months
  ended March 31, 2001
  (Unaudited)                          -             -               -            (4,452)              -      (4,452)
                                ---------     ---------     -----------   --------------    -------------   --------
 Balance,
  --------
   MARCH 31, 2001,
   --------------
   (UNAUDITED)                 12,000,000     $  12,000     $    18,010   $      (73,670)    $   (10,000)   $(53,660)
   ----------                  ==========     =========     ===========   ==============     ============   =========
</TABLE>


                 See accompanying notes to financial statements.

                                        6



<PAGE>

<TABLE>
<CAPTION>
                            LAKSHMI ENTERPRISES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)


                                                                                      For the Period
                                                   For the Three   For the Three     From May 9, 1997
                                                   Months Ended     Months Ended      (Inception) to
                                                   March 1, 2001   March 31, 2000     March 31, 2001
                                                   -------------   --------------    ---------------
<S>                                                <C>             <C>               <C>
Cash flows from operating activities
   Net loss                                        $     (4,452)   $       (8,150)   $       (73,671)
   Increase (decrease) in accrued expenses              (27,577)              -                5,942
                                                   -------------   --------------    ---------------
   Net cash used in operating activities                (32,029)           (8,150)           (67,728)
                                                   -------------   --------------    ---------------

Cash flows from financing activities
   Proceeds from issuance of common stock                  -                  -               20,010
   Loan proceeds from principal stockholders             32,029             8,150             47,718
                                                   -------------   --------------    ---------------
   Net cash provided by financing activities             32,029             8,150             67,728
                                                   -------------   --------------    ---------------

Net increase in cash                                       -                  -                  -

Cash and cash equivalents - Beginning                      -                  -                  -
                                                   -------------   --------------    ---------------

Cash and cash equivalents - ending                 $       -       $          -      $           -
                                                   =============   ==============    ================
</TABLE>






                 See accompanying notes to financial statements.

                                        7
<PAGE>


                            LAKSHMI ENTERPRISES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                        AS OF MARCH 31, 2001 (UNAUDITED)


NOTE  1  BASIS OF PRESENTATION

         The accompanying  unaudited financial  statements have been prepared in
         accordance with generally accepted accounting principles, and the rules
         and  regulations of the Securities and Exchange  Commission for interim
         financial  information.  Accordingly,  they  do  not  include  all  the
         information  necessary for a  comprehensive  presentation  of financial
         position and results of operations.

         It is  management's  opinion,  however  that all  material  adjustments
         (consisting of normal recurring  adjustments)  have been made which are
         necessary for a fair financial statements presentation. The results for
         the interim period are not necessarily  indicative of the results to be
         expected for the year.

         For  further  information,   refer  to  the  financial  statements  and
         footnotes  included  in the  Company's  Form  10-KSB for the year ended
         December 31, 2000.

NOTE 2 STOCKHOLDER PLANS

         The loans payable to stockholders are  non-interest-bearing and are due
         are due and  payable on  demand.  Loans  payable  to  PageOne  Business
         Productions,  LLC., a former principal stockholder,  amounts to $15,689
         and loans payable to Jeong S. Park, a principal  stockholder amounts to
         $32,029 as of March 31, 2001.

NOTE  3 GOING CONCERN

         As reflected in the accompanying financial statements,  the Company had
         accumulated net losses of $73,670,  a working capital and stockholders'
         deficiency of $53,660 and has not generated any revenues  since it does
         not yet have an  operating  business.  The  ability  of the  Company to
         continue as a going  concern is dependent on the  Company's  ability to
         raise additional capital and implement its business plan. The financial
         statements  do not include any  adjustments  that might be necessary if
         the Company is unable to continue as a going concern.

         The Company intends to serve as a vehicle to effect a merger,  exchange
         of capital stock,  asset  acquisition,  or other business  combination.
         Management  believes  that actions  presently  being taken  provide the
         opportunity for the Company to continue as a going concern.


                                       8

<PAGE>


ITEM 2. - MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The information  contained in this Item 2, Management's  Discussion and Analysis
or Plan of Operation,  contains "forward looking  statements" within the meaning
of Section 27A of the  Securities  Act 1933, as amended,  and Section 21E of the
Securities  Exchange Act of 1934, as amended.  Investors are cautioned  that all
forward looking  statements  involve risks and  uncertainty,  including  without
limitation,  the  ability of the  Company to continue  its  expansion  strategy,
changes in costs of raw  materials,  labor,  and employee  benefits,  as well as
general  market  conditions,   competition  and  pricing.   Actual  results  may
materially  differ from those projected in the forward  looking  statements as a
result of certain  risks and  uncertainties  set forth in this report.  Although
management believes that the assumptions made and expectations  reflected in the
forward  looking  statements  are  reasonable,  there is no  assurance  that the
underlying  assumptions will, in fact, prove to be correct or that actual future
results will not be different from the expectations expressed in this report. In
light  of  the  significant   uncertainties  inherent  in  the  forward  looking
statements  included  herein,  the inclusion of such  information  should not be
regarded  as a  presentation  by  the  Company  or any  other  person  that  the
objectives and plans of the Company will be achieved.

As used  herein  the term  "Company"  refers to  Lakshmi  Enterprises,  Inc.,  a
Delaware  corporation  and  its  predecessors,   unless  the  context  indicates
otherwise.  The Company is currently a shell company whose purpose is to acquire
operations  through  an  acquisition  or  merger  or to begin  its own  start-up
business.

The Company is in the process of  attempting to identify and acquire a favorable
business  opportunity.  The  Company  has  reviewed  and  evaluated  a number of
business ventures for possible  acquisition or participation by the Company. The
Company has not entered into any  agreement,  nor does it have any commitment or
understanding to enter into or become engaged in a transaction as of the date of
this filing. The Company continues to investigate, review, and evaluate business
opportunities  as they  become  available  and will  seek to  acquire  or become
engaged  in  business  opportunities  at  such  time as  specific  opportunities
warrant.

RESULTS OF OPERATIONS:

The following  discussion and analysis below should be read in conjunction  with
the financial  statements,  including the notes thereto,  appearing elsewhere in
this report.  For the period since  inception  (May 9, 1997)  through  March 31,
2001,  during the  Company's  development  stage,  the  Company  has a zero cash
balance, and has accumulated a net loss of $73,670.

                                       9

<PAGE>


FINANCIAL CONDITION AND LIQUIDITY:

The Company has total  current  assets of $0 and total assets of $0. The Company
has a working  capital  deficiency of $53,660 and has an ongoing need to finance
its  activities.  To date,  the Company has funded  these cash  requirements  by
offering and selling its Common Stock, in addition to cash advances from current
stockholders.  Operating costs for the current period were funded by a loan from
a stockholder.


PART II  OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

(a) Exhibits

 Exhibit Number                         Description

     3.1*      Certificate of Incorporation of Lakshmi  Enterprises,  Inc. filed
               May 9, 1997  (incorporated  by  reference  to Exhibit  3.1 to our
               registration statement on Form 10SB-12G filed on October 27, 1999
               (file no. 000-27837)).

     3.2*      Restated  Certificate of  Incorporation  of Lakshmi  Enterprises,
               Inc.  filed June 23, 1999  (incorporated  by reference to Exhibit
               3.2 to our  registration  statement  on Form  10SB-12G  filed  on
               October 27, 1999 (file no. 000-27837)).

     3.3*      Bylaws of Lakshmi Enterprises, Inc. (incorporated by reference to
               Exhibit 3.3 to our registration  statement on Form 10SB-12G filed
               on October 27, 1999 (file no. 000-27837)).

     4         Reference is made to Exhibits 3.1, 3.2 and 3.3.

-----------------------------
*  Incorporated by reference.

(b) Reports on Form 8-K.

         No  reports on Form 8-K were  filed  during the period  covered by this
Form 10-QSB.






                                       10

<PAGE>




                                   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.

                                               Lakshmi Enterprises, Inc.


                                               By:/s/ Jeong S. Park
                                                  -----------------
                                                  Jeong S. Park
                                                  President and Director
Date:    September 25, 2001





                                       11