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, 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 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                                        6,017,471
----------------------------------                         -------------------
Title of Class                                     Number of Shares outstanding
                                                             at March 31, 2001



Transitional Small Business Format     Yes            No    X

No exhibits included.

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<TABLE>
<CAPTION>


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

                                 BALANCE SHEETS



                                     ASSETS

                                                                                            Dec. 31,          March 31,
                                                                                              2000              2001


<S>                                                                                           <C>               <C>
              Current Assets - Cash                                                           113,050           108,714

              TOTAL ASSETS                                                              $     113,050    $      108,714



                      LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities                                                                     $         754
                                                                                         ------------

STOCKHOLDERS' EQUITY
Common Stock, $.00001 par value; 100,000,000 shares
  authorized; 6,017,471 shares issued and outstanding                                              61                61

Additional paid-in capital                                                                    141,559           141,559

Accumulated deficit during the development stage                                             (29,324)          (32,906)


              TOTAL STOCKHOLDERS' EQUITY                                                      112,296           108,714



TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY                                              $     113,050    $      108,714

</TABLE>



















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

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<PAGE>
<TABLE>
<CAPTION>



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

                            STATEMENTS OF OPERATIONS



                                                                                                                       CUMULATIVE
                                                                                        FOR THE THREE                FROM INCEPTION
                                                                                        MONTHS ENDED                 (Feb. 11, 1997)
                                                                                          March 31,                        TO
                                                                                  2001                 2000          March 31, 2001





<S>                                                                         <C>                   <C>                 <C>
REVENUES - Interest                                                         $          1,557      $       1,471       $       18,422



OPERATING EXPENSES

  General and Administrative                                                           5,139                100               51,328


TOTAL OPERATING EXPENSES                                                               5,139                100               51,328


NET INCOME (LOSS)                                                                    (3,582)      $       1,371       $     (32,906)

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




WEIGHTED AVERAGE NUMBER
 OF SHARES OUTSTANDING                                                             6,017,471          6,017,471


</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. 11, 1997)
                                                                                          March 31,                        TO
                                                                                  2001                 2000          March 31, 2001



CASH FLOWS FROM OPERATING
ACTIVITIES

<S>                                                                         <C>                   <C>                 <C>
  Net Income (Loss)                                                         $        (3,582)      $       1,371       $     (32,906)

    Adjustment-Decrease in Accounts Payable                                            (754)


  Net cash flows from operating
   activities                                                                        (4,336)              1,371       (32,906)

CASH FLOWS FROM INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING
  ACTIVITIES
   Sale of Common Stock                                                                                                      141,621


  Net Cash flows from financing
   activities                                                                                                                141,621

NET INCREASE (DECREASE) IN CASH                                                      (4,336)              1,371              108,714

CASH BALANCE AT BEGINNING
  OF PERIOD                                                                          113,050            107,420                    0



CASH BALANCE AT END OF
  PERIOD                                                                    $        108,714      $     108,791       $      108,714






</TABLE>



















                 See accompanying Notes to Financial Statements.

                                                                   4

<PAGE>



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

                                      NOTES TO CONDENSED FINANCIAL STATEMENTS
                                                    (UNAUDITED)
                                                  March 31, 2001


1.       Comments

         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, 2001, the results of operations for the
         three months ended March 31, 2001 and 2000,  and the cash flows for the
         three months ended March 31, 2001 and 2000.

         Reference  is made to the  Company's  Form  10-KSB  for the year  ended
         December 31,  2000.  The results of  operations  for the nine and three
         months  ended  March 31,  2001 are not  necessarily  indicative  of the
         results of  operations  to be expected  for the full fiscal year ending
         December 31, 2001.

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

         The Company has limited working capital and activities.


                                            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--None.


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<PAGE>



                                                    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:     May 14, 2001                                     By:/s/ Maurice Tolub
                                                             -----------------
                                                                  Maurice Tolub,
                                                President and Chief Financial
                                              Officer (chief financial officer
                                            and accounting officer and duly
                                                     authorized officer)

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