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 March 31, 2002

[        ] 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 0-27873
         CIK Number 0001098009

                                         SPACE LAUNCHES FINANCING, INC.
(Exact Name of small business issuer as specified in its charter)


            Nevada                                                  98-0178621
(State or other Jurisdiction of                          I.R.S. Employer Identi-
Incorporation or Organization                                          fication
No.)

                              56 Quai Gustave Ador, Geneva, Switzerland CH-1206
(Address of Principal Executive Offices)                             (Zip Code)

                                                 (949) 489-2400
                                (Issuer's Telephone Number, including Area Code)


         Indicate by check mark whether the Registrant (i) 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  (of for such  shorter  period  that the
Registrant  was required to file such reports) and (ii) has been subject to such
filing requirements for the past 90 days.

                                          Yes    X           No

         Indicate  the  number of  shares  outstanding  of each of the  issuer's
classes of common equity, as of the latest practicable date.

Common Stock, $.001 par value                                       53,710,864
----------------------------------                      ----------------------
Title of Class                                     Number of Shares outstanding
                                                              at March 31, 2002



Transitional Small Business Format     Yes            No    X

No exhibits included.

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<CAPTION>


                         SPACE LAUNCHES FINANCING, INC.
                      (A Company in the Development Stage)

                                 BALANCE SHEETS



                                     ASSETS

                                                                                            Dec. 31,          March 31,
                                                                                              2001              2002


              Current Assets
<S>                                                                                            <C>               <C>
                     Cash                                                                      44,662            82,746
                     Accounts receivable - related party                                       39,500                --
                     TOTAL CURRENT ASSETS                                                      84,162            82,746

                     Equipment, less accumulated
                       depreciation of $3,164 and $3,427                                        6,328             6,065

              Other Assets
                     Technology                                                                   221               221
                     Organization costs, less accumulated
                       amortization of $460 and $520                                              740               680



                     TOTAL ASSETS                                                       $      91,452    $       89,712


                      LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable                                                                        $          --    $        3,116
Note payable                                                                                       --            50,000


Total Current Liabilities                                                               $          --    $       53,116

STOCKHOLDERS' EQUITY
Preferred Stock, $.001 par value; 100,000 shares
authorized, 0 and 1,000 shares of Series A outstanding                                              0                 0

Common Stock, $.00001 par value; 100,000,000 shares
  authorized; 53,710,864 shares issued and outstanding                                            241               537

Additional paid-in capital                                                                    202,180           162,908

Deficit accumulated during the development stage                                            (110,969)         (126,849)


              TOTAL STOCKHOLDERS' EQUITY                                                       91,452            36,596



TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY                                              $      91,452    $       89,712




</TABLE>








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

                                                                   2

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<TABLE>
<CAPTION>


                         SPACE LAUNCHES FINANCING, INC.
                      (A Company in the Development Stage)

                            STATEMENTS OF OPERATIONS



                                                                                                                       CUMULATIVE
                                                                                        FOR THE THREE                FROM INCEPTION
                                                                                        MONTHS ENDED                 (Feb. 4, 2000)
                                                                                          March 31,                        TO
                                                                                  2002                 2001          March 31, 2002





<S>                                                                         <C>                   <C>                 <C>
REVENUES                                                                    $             --      $          --       $           --



OPERATING EXPENSES

  Research and Development                                                                --             10,000               73,203
  General and Administrative                                                          16,051             19,766               57,923


TOTAL OPERATING EXPENSES                                                              16,051             29,766              131,126

OTHER INCOME - Interest                                                                  171              1,208                4,277

NET INCOME (LOSS)                                                                   (15,880)      $    (28,558)       $    (126,849)

NET INCOME (LOSS) PER SHARE                                            $  --               $    --            $     --




WEIGHTED AVERAGE NUMBER
 OF SHARES OUTSTANDING






</TABLE>





























                 See accompanying Notes to Financial Statements.

                                                                   3

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<TABLE>
<CAPTION>

                          SPACE LAUNCHES FIANCING, INC.
                      (A Company in the Development Stage)

                            STATEMENTS OF CASH FLOWS

                                                                                                                       CUMULATIVE
                                                                                        FOR THE THREE                FROM INCEPTION
                                                                                        MONTHS ENDED                 (Feb. 4, 2000)
                                                                                          March 31,                        TO
                                                                                  2002                 2001          March 31, 2002



CASH FLOWS FROM OPERATING
ACTIVITIES

<S>                                                                         <C>                   <C>                 <C>
  Net Income (Loss)                                                         $       (15,880)      $    (28,558)       $    (126,849)

Adjustments to operating expenses
  Increase in Accounts payable                                                         3,116             10,000                3,116
  Depreciation                                                                           791                791                3,427
  Amortization                                                                            60                 60                  520
  Decrease in accounts receivable-
     related party                                                                    39,500                 --                   --



  Net cash flows from operating
   activities                                                                         27,587           (17,707)       (119,786)

CASH FLOWS FROM INVESTING ACTIVITIES
  Organization Costs                                                                      --                 --              (1,200)
  Purchase of Equipment                                                                   --                 --              (9,492)
  Acquisition of Technology rights for stock                                              --                 --                (221)
  Net cash flows from investing activities                                                --                 --             (10,913)



CASH FLOWS FROM FINANCING
  ACTIVITIES
   Increase in notes payable                                                          50,000                 --               50,000
   Sale of Common Stock                                                             (39,503)                 --              163,445


  Net Cash flows from financing
   activities                                                                         10,497                 --              213,445

NET INCREASE (DECREASE) IN CASH                                                       38,084           (17,707)               82,746

CASH BALANCE AT BEGINNING
  OF PERIOD                                                                           44,662            136,980                   --



CASH BALANCE AT END OF
  PERIOD                                                                    $         82,746      $     119,273       $       82,746


</TABLE>


















                 See accompanying Notes to Financial Statements.

                                                                   4

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                                          SPACE LAUNCHES FINANCING, INC.
                                       (A Company in the Development Stage)

                                      NOTES TO CONDENSED FINANCIAL STATEMENTS
                                                    (UNAUDITED)
                                                  March 31, 2002


NOTE 1- GENERAL

The accompanying  financial statements are unaudited,  but in the opinion of the
management of the Company,  contain all  adjustments,  consisting of only normal
recurring accruals,  necessary to present fairly the financial position at March
31, 2002,  the results of  operations  for the three months ended March 31, 2002
and 2001, and the cash flows for the three months ended March 31, 2002 and 2001.

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 June 30, 2001 audited  financial  statements.
The results of operations for the three and nine months ended March 31, 2002 and
2001 are not necessarily  indicative of the results of operations to be expected
for the full fiscal year.

NOTE 2 - RELATED PARTY TRANSACTIONS

     Accounts  Receivable  -  Related  Party  -  As  of  December  31,  2001  an
     officer/shareholder  of the Company owed  $39,500 to the Company.  This was
     repaid in the quarter ended March 31, 2002.

NOTE 3 - GOING CONCERN

     The accompanying 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  not yet  been  successful  in  establishing
     profitable  operations.  These  factors raise  substantial  doubt about the
     ability of the  Company to  continue as a going  concern.  In this  regard,
     management  is  proposing  to raise  any  necessary  additional  funds  not
     provided by  operations  through loans or through  additional  sales of its
     common stock.  There is no assurance that the Company will be successful in
     raising this additional  capital or achieving  profitable  operations.  The
     financial  statements do not include any adjustments that might result from
     the outcome of these uncertainties.

NOTE 4- ACQUISITION OF POLYDERM, INC.

     On January 20, 2002,  the Company  entered  into an  Agreement  and Plan of
     Reorganization  with PolyDerm,  Inc. (the  "Agreement"),  pursuant to which
     Agreement  the Company  agreed to acquire  PolyDerm,  Inc.  for  24,069,896
     shares of Company Common Stock. In addition 1,382,771 shares were issued to
     parties arranging the transaction.  Pursuant to the Agreement,  and subject
     to the satisfaction of certain  conditions,  all of which were satisfied or
     waived,  the closing of the transaction took place on February 5,2002.  The
     Company a 4-for-1  forward stock split of its common stock to  shareholders
     of record on February  12,  2002,  and all share  amounts  herein have been
     restated for the stock  split.  As a result of the  transaction,  there are
     53,710,864  shares  outstanding.  The  stockholders of PolyDerm,  after the
     acquisition,   owned  a  controlling  interest  in  the  combined  company.
     Accordingly,   the   combination  has  been  accounted  for  as  a  reverse
     acquisition whereby,  for accounting  purposes,  PolyDerm is the accounting
     acquirer  and the  Company is the  accounting  acquiree.  The  Company  and
     PolyDerm are  collectively  referred to as (the  Company).  The Company has
     adopted a December 31 year end. The  financial  statements  from  inception
     through February 5, 2002 are those of PolyDerm,

                                                         5

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     Inc.,  the  accounting  acquirer.  Subsequent  to  February  5,  2002,  the
     financial  statements  reflect the consolidated  position and operations of
     Space Launches Finances, Inc. (Company) and PolyDerm, Inc..

     The Company is engaged in the  development  and  marketing of a proprietary
     skin technology;  however,  the Company has not commenced planned principal
     operations  and has not  recognized  any  revenues  related to such planned
     operations.  Accordingly,  the Company is  considered a  development  stage
     company as defined in SFAS No. 7.

     The results of operations for the three months ended March 31, 2002 are not
     necessarily  indicative of the results of operations to be expected for the
     full fiscal year ending December 31, 2002.

Item 2.        MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
                  FINANCIAL CONDITION

     The Company has sufficient  cash on hand to continue its clinical trials of
     its proprietary technology.  Management has not yet determined the level of
     funding required once research and development activities are complete.


                                            PART II.  OTHER INFORMATION

Item 1.           LEGAL PROCEEDINGS  -  None

Item 2.           CHANGES IN SECURITIES - None
                  ---------------------

Item 3.           DEFAULTS UPON SENIOR SECURITIES - None
                  -------------------------------

Item 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS - None
                  ---------------------------------------------------

Item 5.           OTHER INFORMATION - None

Item 6.           EXHIBITS AND REPORTS ON FORM 8-K

     Exhibits--None

     Reports on Form 8-K--The Company filed a Form 8-K dated February 5, 2002 to
report the acquisition of PolyDerm,  Inc., as desiclosed under Item 1 - Notes to
Condensed Financial Statements.


                                                         6

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                                                    SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                                SPACE LAUNCHES FINANCING, INC.



Date:     June 6, 2002                                     By:/s/ Philip Faris
                                                               ----------------
                                                                   Philip Faris,
                                                 President and Chief Financial
                                              Officer (chief financial officer
                                                and accounting officer and duly
                                                             authorized officer)


                                                         7

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