FORM 10-QSB

                         SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549

(X)  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934

For the quarterly period ended March 31, 2002

                                         OR

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

Commission file number:  0-31767


                            TABATHA V, INC.
               ______________________________________________________
               (Exact name of registrant as specified in its charter)

           Colorado                                    84-1536521
_______________________________          __________________________________
(State or other jurisdiction of         (I.R.S. Employer Identification No.)
incorporation or organization)

1926 S. Oswego Way            Aurora, Colorado                      80014
___________________________________________________________________________
 (Address of principal executive offices)                       (Zip  Code)

                               (303) 752-4637
________________________________________________________________________________
                 (Registrant's telephone number, including area code)


________________________________________________________________________________
 (Former name, former address and former fiscal year, if changed since last
  report)


    Indicate by check mark whether the registrant  (1) 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 (or for 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
    ___        ___


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

                                                          Shares  Outstanding
            Class of Securities                              at May 2, 2002
            ___________________                           ___________________

            Common Stock, no par value                           9,962,500


    Transitional Small Business Disclosure Format

Yes         No  X
    ___        ___



                                        INDEX


PART I - FINANCIAL INFORMATION

ITEM 1.  Financial Statements.

        (a)  The reviewed financial statements of registrant for the three
months ended March 31, 2002, follow.  The financial statements reflect
all adjustments which are, in the opinion of management, necessary to a fair
statement of the results for the interim period presented.



                               TABATHA V, INC.
                       (A Development Stage Company)

                            FINANCIAL STATEMENTS

                               March 31, 2002


                                   CONTENTS



         BALANCE SHEET ............................................  F-1

         STATEMENTS OF OPERATIONS .................................  F-2

         STATEMENTS OF CASH FLOWS .................................  F-3

         NOTES TO THE FINANCIAL STATEMENTS ........................  F-4




                                    TABATHA V, INC.
                            (A Development Stage Company)
                                    BALANCE SHEET
                                    March 31, 2002
                                     (unaudited)


   ASSETS
CURRENT ASSETS
   Cash and cash equivalents                                         $   4,328
                                                                      --------
         Total current assets                                            4,328
                                                                      --------

         TOTAL ASSETS                                                $   4,328
                                                                      ========


   LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES                                                  $       -



STOCKHOLDERS' EQUITY
   Preferred stock, no par value; 10,000,000
      shares authorized; no shares issued and
      outstanding                                                            -
   Common stock, no par value; 100,000,000
      shares authorized; 9,962,500 shares issued
      and outstanding                                                   69,366
   Deficit accumulated during the
      development stage                                                (65,038)
                                                                      --------
                                                                         4,328
                                                                      --------

         TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                  $   4,328
                                                                      ========

       The accompanying notes are an integral part of the financial statements.
                                          F-1


                                     TABATHA V, INC.
                            (A Development Stage Company)
                               STATEMENTS OF OPERATIONS
                                      (unaudited)

<TABLE>
<S>                    <C>          <C>        <C>          <C>        <C>
                        For the
                        Period       For the    For the   For the   For the
                        March 17,    three      three     nine      nine
                        2000         months     months    months    months
                        (Inception)  ended      ended     ended     ended
                        to March     March      March     March     March
                            31,        31,       31,       31,       31,
                            2002       2002      2001      2002      2001
                        -----------  ---------  ---------  ---------  ---------
REVENUES
  Interest income       $       231  $       2  $      33  $      26  $     143

EXPENSES
  Selling, general and
   administrative expense    43,525          -          -          -          -
   Accounting                 2,575        150        195      1,296      1,095
   Legal                      3,790        211        130      1,136      2,117
   Rent                       1,200        150        150        450        450
   Office supplies              879        256          -        271          -
   Non cash compensation     13,300          -          -          -     13,300
                         ----------  ---------  ---------  ---------  ---------
        Total expenses       65,269        767        475      3,153     16,962
                         ----------  ---------  ---------  ---------  ---------
NET LOSS                   (65,038)      (765)      (442)    (3,127)   (16,819)

Accumulated deficit
  Balance,
    beginning of period          -    (64,273)   (61,143)   (61,911)   (44,766)
                        ----------  ---------  ---------  ---------  ---------
  Balance,
        end of period   $  (65,038) $ (65,038) $ (61,585) $ (65,038) $ (61,585)
                         ==========  =========  =========  =========  =========
NET LOSS PER SHARE      $    (0.01) $    (NIL) $    (NIL) $    (NIL) $    (NIL)
                        ==========  =========  =========  =========  =========
WEIGHTED AVERAGE
  NUMBER OF SHARES
  OUTSTANDING           9,962,500   9,962,500  9,962,500  9,962,500  9,962,500
                        ==========  ==========  =========  =========  ========

</TABLE>

  The accompanying notes are an integral part of the financial statements.
                                          F-2



                                   TABATHA V, INC.
                            (A Development Stage Company)
                               STATEMENTS OF CASH FLOWS
                                     (unaudited)

<TABLE>
<S>                                     <C>             <C>           <C>
                                        Period          For the       For the
                                        March 17,       nine          nine
                                        2000            months        months
                                        (Inception) to  ended         ended
                                        March 31,       March 31,     March 31,
                                        2002            2002          2001
                                        ------------   ----------   ---------
CASH FLOWS FROM OPERATING
 ACTIVITIES
  Net loss                              $    (65,038)  $   (3,127)  $ (16,819)
  Adjustments to reconcile
    net loss to net cash flows
    from operating activities:
      Rent expense                             1,200          450         450
      Stock issued for services               43,525            -           -
      Warrants issued for services            13,300            -      13,300
      Decrease in prepaid expenses                 -            -          87
                                        ------------   ----------   ---------
    Net cash flows from
       operating activities                   (7,013)      (2,677)     (2,982)

CASH FLOWS FROM INVESTING
  ACTIVITIES                                       -            -           -

CASH FLOWS FROM FINANCING
  ACTIVITIES
  Expenses paid by shareholders                  241          241           -
  Issuance of common stock                    11,100            -           -
                                        ------------   ----------   ---------
    Net cash flows
      from financing activities               11,341          241           -
                                        ------------   ----------   ---------
NET INCREASE (DECREASE) IN
  CASH AND CASH EQUIVALENTS                    4,328       (2,436)     (2,982)

CASH AND CASH EQUIVALENTS,
  BEGINNING OF PERIOD                              -        6,764       9,922
                                        ------------   ----------   ---------
CASH AND CASH EQUIVALENTS,
  END OF PERIOD                         $      4,328   $    4,328   $   6,940
                                        ============   ==========   =========

</TABLE>

       The accompanying notes are an integral part of the financial statements.
                                          F-3
<FN>

                                   TABATHA V, INC.
                            (A Development Stage Company)
                            NOTES TO FINANCIAL STATEMENTS
                                   March 31, 2002



1.  Management's representation of interim financial information
    ------------------------------------------------------------
The accompanying financial statements have been prepared by Tabatha V, Inc.
without audit pursuant to the rules and regulations of the
Securities and Exchange Commission.  Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed or omitted as
allowed by such rules and regulations, and management believes that the
disclosures are adequate to make the information presented not misleading.
These financial statements include all of the adjustments which, in the opinion
of management, are necessary to a fair presentation of financial position and
results of operations.  All such adjustments are of a normal and recurring
nature.  These financial statements should be read in conjunction with the
audited financial statements at June 30, 2001.

                                          F-4



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

Certain statements in this report, including statements in the following
discussion, which are not statements of historical fact, are what are known
as "forward looking statements," which are basically statements about the
future, and which, for that reason, involve risk and uncertainty since
no one can accurately predict the future.  Words such as "plans," "intends,"
"will," "hopes," "seeks," "anticipates," "expects" and the like often
identify such forward looking statements, but are not the only indication
that a statement is a forward looking statement.  Such forward looking
statements include statements of our plans and objectives with respect
to the present and future operations of the Company, and statements which
express or imply that such present and future operations will or may produce
revenues, income or profits.  Numerous factors and future events could
cause the Company to change such plans and objectives or fail to successfully
implement such plans or achieve such objectives, or cause such present and
future operations to fail to produce revenues, income or profits.  Therefore,
the reader is advised that the following discussion should be considered in
light of the discussion of risks and other factors contained in this report
on Form 10QSB and in the Company's other filings with the Securities and
Exchange Commission, and that no statements contained in the following
Discussion or in this Form 10QSB should be construed as a guarantee or
Assurance of future performance or future results.

Liquidity and Capital Resources

    As of March 31, 2002, the Company remains in the development stage.
Since inception, it has experienced no significant change in liquidity or
capital resources or stockholders' equity other than the receipt of proceeds
in the amount of $11,100 from its inside capitalization funds.  Consequently,
for the period ended March 31, 2002, the Company's balance sheet reflects
current and total assets of $4,328 in the form of cash and cash equivalents,
and current liabilities of $0.

    The Company does not believe its existing cash resources will be
sufficient to pay costs associated with carrying out its plan of operations
for the remainder of the fiscal year.  Therefore it expects to require
additional capital (see "Need for Additional Financing" below) during the
fiscal year.

Results of Operations

    During the period from March 17, 2000 (inception) through March 31, 2002,
the Company has engaged in no significant operations other than organizational
activities, acquisition of capital and preparation and filing of its
registration statement on Form 10-SB under the Securities Exchange Act of
1934, as amended, compliance with its periodical reporting requirements and
initial efforts to locate a suitable merger or acquisition candidate.  No
revenues were received by the Company during this period.

    The Company experienced a net loss of $765 for the third quarter and
a net loss of $65,038 since inception.  These losses are primarily the result
of legal, consulting, and accounting costs related to initial registration
under the Securities Exchange Act of 1934 and subsequent compliance with
reporting requirements of the securities laws.  The Company does not expect
to generate and revenue until it completes a business combination, but will
continue to incur legal and accounting fees and other costs associated with
compliance with its reporting obligations.  As a result, the Company expects
that it will continue to incur losses each quarter at least until it has
completed a business combination.  Depending upon the performatnce of any
acquired business, the Company may continue to operate at a loss even
following completion of a business combination.

Plan of Operations

    For the fiscal year ending June 30, 2002, the Company expects to continue
its efforts to locate a suitable business acquisition candidate and thereafter
to complete a business acquisition transaction.  The Company anticipates
incurring a loss for each quarter and for the full fiscal year as a result
of expenses associated with compliance with the reporting requirements of
the Securities Exchange Act of 1934, and expenses associated with locating
and evaluating acquisition candidates.  The Company does not expect to
generate revenues until it completes a business acquisition, and, depending
upon the performance of the acquired business, it may also continue to
operate at a loss after completion of a business combination.

Need for Additional Financing

    The Company believes it will require additional capital in order to pay
the costs associated with carrying out its plan of operations and the costs
of compliance with its continuing reporting obligations under the Securities
Exchange Act of 1934, as amended, for the fiscal year ending June 30, 2002.
This additional capital will be required whether or not the Company is able
to complete a business combination transaction during the current year.
Furthermore, once a business combination is completed, the Company's needs
for additional financing are likely to increase substantially.

    No specific commitments to provide additional funds have been made by
Management or other stockholders, and the Company has no current plans,
proposals, arrangements or understandings to raise additional capital through
the sale or issuance of additional securities prior to the location of a
merger or acquisition candidate.  Accordingly, there can be no assurance that
any additional funds will be available to the Company to allow it to cover
its expenses.  Notwithstanding the foregoing, however, to the extent that
additional funds are required, the Company anticipates receiving such funds
in the form of advancements from current shareholders without the issuance
of additional shares or other securities, or through the private placement
of restricted securities.  In addition, in order to minimize the amount of
additional cash which is required in order to carry out its business plan,
the Company might seek to compensate certain service providers by issuances
of stock in lieu of cash.


                       PART II - OTHER INFORMATION

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

         (a) Exhibits

             None

         (b) Reports on Form 8-K

             None


                               Signatures

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

Date: May 6, 2002                                  TABATHA V, INC.

                                                   By: /s/ ROBERT L. SMITH
                                                   Robert L. Smith
                                                   President and Director


                                                   By: /s/ DIANE THELEN
                                                   Diane Thelen
                                                   Director


                                                   By: /s/ KIP PEDRIE
                                                   Kip Pedrie
                                                   Director