SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 ending September 30, 2001

Commission File No. 0000-28341

Alph-Net Consulting Group, Ltd.
A Nevada corporation      77-0426983
      (I.R.S. Employer Identification Number)

2102 N. Donner Ave., Tucson, Arizona 85749

Registrant's telephone number, including area code:
(520) 731-9890

Check whether the issuer (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.  [X]Yes [ ] No


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

     Class             Outstanding as of November 1, 2001
$.001 Par Value Common Stock          1,000,000 SHARES


                      PART I

This Report may contain certain "forward-looking"
statements as such term is defined in the Private
Securities Litigation Reform Act of 1995 or by the
Securities and Exchange Commission in its rules,
regulations and/or releases, which represent our
expectations or beliefs, including but not limited to,
statements concerning our operations, economic
performance, financial condition, growth and
acquisition strategies, investments, and future
operational plans.  For this purpose, any statements
contained herein that are not statements of historical
fact may be deemed to be forward-looking statements.
Without limiting the generality of the foregoing, words
such as "may," "will," "expect," "believe,"
"anticipate," "intend," "could," "estimate," "might,"
or "continue" or the negative or other variations
thereof or comparable terminology are intended to
identify forward-looking statements.  These statements
by their nature involve substantial risks and
uncertainties, certain of which are beyond our control,
and actual results may differ materially depending on a
variety of important facts.


          ITEM 1.  FINANCIAL STATEMENTS

     As used herein, the term "Company" refers to Alph-
Net Consulting Group, Ltd., a Nevada corporation, and
its subsidiaries and predecessors unless otherwise
indicated.  Reviewed, interim financial statements are
presented including a balance sheet for the Company as
of the quarter ended September 30, 2001 and statements
of operations, statements of shareholders equity and
statements of cash flows for the interim period up to
the date of such balance sheet.


INDEPENDENT ACCOUNTANT'S REPORT

Alph-Net Consulting Group, Ltd.
(A Development Stage Company)

	We have reviewed the accompanying balance sheets of
Alph-Net Consulting Group, Ltd. (a development stage
company) as of September 30, 2001 and December 31, 2000, and
the related statements of operations for the three and nine
months, and cash flows for the nine months ended September
30, 2001 and 2000.  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 statement 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 for them to be in conformity with
generally accepted accounting principles.

                                Respectfully submitted

                                 /s/ Robison, Hill & Co.
                                Certified Public Accountants
Salt Lake City, Utah
November 15, 2001
     F-1


<TABLE>
ALPH-NET CONSULTING GROUP, LTD.
(A Development Stage Company)
BALANCE SHEETS

<CAPTION>
                              September 30      December 31
                                   2001          2000
<S>                                 <C>          <C>
Assets:                             $  -         $  -

LIABILITIES & STOCKHOLDERS' EQUITY
Current Liabilities:
 Accounts Payable                 $2,575        $215
  Total Liabilities               $2,575        $215

Shareholders' Equity:
 Common Stock, Par Value $.001
  Authorized 100,000,000 shares
  Issued 1,000,000 shares at September 30, 2001
  and December 31, 2000            1,000        1,000

 Paid-In Capital                   2,895        2,680

 Retained Deficit                 (1,200)      (1,200)

 Deficit Accumulated During the
  Development State               (5,270)      (2,695)

  Total Stockholders' Equity      (2,575)       $(215)

 Total Liabilities and
   Shareholders' Equity             $  -        $   -
</TABLE>
      F-2
See accompanying notes and accountants' report.


<TABLE>
ALPH-NET CONSULTING GROUP, LTD.
(A Development Stage Company)
STATEMENTS OF OPERATIONS
<CAPTION>

               For the three months ended
                       ended September 30,
                       2001       2000

<S>                     <C>         <C>

Revenues              $   -           $   -

Expenses
 General & Administrative 1,449          59

  Net Loss            $  (1,449)      $ (59)

Basic & Diluted loss per share
                      $   -           $   -

                                             Cumulative
                                             since July
                                             12, 2000
               For the nine months ended   inception of
                  ended September 30,       development
                       2001       2000          stage

<S>                     <C>         <C>          <C>

Revenues              $   -        $   -        $    -

Expenses
 General & Administrative 2,575     1,039         5,270

  Net Loss            $  (2,575)  $(1,039)      $(5,270)

Basic & Diluted loss per share
                      $   -        $   -

</TABLE>
     F-3
See accompanying notes and accountants' report.



<TABLE>
ALPH-NET CONSULTING GROUP, LTD.
(A Development Stage Company)
STATEMENT OF CASH FLOWS
<CAPTION>
                                                 Cumulative
                                                Since July 12
                                                   1999
                    For the nine months ended   Inception of
                         ended September 30,      Development
                              2001       2000        Stage

<S>                              <C>        <C>         <C>
CASH FLOWS FROM
OPERATING ACTIVITIES:
Net Loss                    $(2,575)     $(1,039)    $(5,270)
Increase (Decrease) in
 Accounts Payable             2,360        1,039       2,375
Net Cash Used in
 Operating activities          (215)           -      (2,895)

CASH FLOWS FROM
INVESTING ACTIVITIES:
Net Cash provided by
 Investing activities             -            -           -

CASH FLOWS FROM
FINANCING ACTIVITIES:
Capital contributed
 By shareholder                 215            -       2,895
Net Cash provided by
 Financing activities           215            -       2,895

Net (Decrease) in
 Cash and Cash Equivalents        -            -           -
Cash and Cash Equivalents
 At Beginning of Period           -            -           -
Cash and Cash Equivalents
 At End of Period             $   -        $   -        $  -

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for:
 Interest                     $   -        $   -        $  -
 Franchise and income taxes   $   -        $   -        $350
</TABLE>
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AN
FINANCING ACTIVIITES:  None
     F-4
See accompanying notes and accountants' report.


ALPH-NET CONSULTING GROUP, LTD.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES

     This summary of accounting policies for Alph-Net
Consulting Group, Ltd. (a development stage company) is
presented to assist in understanding the Company's
financial statements.  The accounting policies conform
to generally accepted accounting principles and have
been consistently applied in the preparation of the
financial statements.

     The unaudited financial statements as of September
30, 2001 and for the nine months then ended reflect, in
the opinion of management, all adjustments (which
include only normal recurring adjustments) necessary to
fairly state the financial position and results of
operations for the three months.  Operating results for
interim periods are not necessarily indicative of the
results which can be expected for full years.

Organization and Basis of Presentation

     The Company was incorporated under the laws of the
State of Nevada on April 15, 1996.  The Company ceased
all operating activities during the period from April
15, 1996 to July 12, 1999 and was considered dormant.
Since July 12, 1999, the Company is in the development
stage, and has not commenced planned principal
operations.

Nature of Business

     The company has no products or services as of
September 30, 2001.  The Company was organized as a
vehicle to seek merger or acquisition candidates.  The
Company intends to acquire interests in various
business opportunities, which in the opinion of
management will provide a profit to the Company

Cash and Cash Equivalents

     For purposes of the statement of cash flows, the
Company considers all highly liquid debt instruments
purchased with a maturity of three months or less to be
cash equivalents to the extent the funds are not being
held for investment purposes.

Pervasiveness of Estimates

     The preparation of financial statements in
conformity with generally accepted accounting
principles required management to make estimates and
assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during
the reporting period.  Actual results could differ from
those estimates.

Loss per Share

     The reconciliations of the numerators and
denominators of the basic loss per share computations
are as follows:
<TABLE>
<CAPTION>
                                            Per-Share
                   Income        Shares       Amount
                 (Numerator)   (Denominator)

       For the three months ended September 30, 2001:
<S>				 <C>        <C>           <C>
Basic Loss per Share
Loss to common shareholders
				$(1,449)   1,000,000     $ -

       For the nine months ended September 30, 2001:
<S>				 <C>        <C>           <C>
Basic Loss per Share
Loss to common shareholders
				$(2,575)   1,000,000     $ -

       For the three months ended September 30, 2000:
Basic Loss per Share
Loss to common shareholders
				$  (59)    1,000,000     $ -

       For the nine months ended September 30, 2000:
Basic Loss per Share
Loss to common shareholders
				$(1,039)   1,000,000     $ -

</TABLE>
     The effect of outstanding common stock equivalents
would be anti-dilutive for September 30, 2001 and 2000
and are thus not considered.

Reclassification

     Certain reclassifications have been made in the
2000 financial statements to conform with the September
30, 2001 presentation.

NOTE 2 - INCOME TAXES

     As of September 30, 2001, the Company had a net
operating loss carryforward for income tax reporting
purposes of approximately $6,500 that may be offset
against future taxable income through 2021.  Current
tax laws limit the amount of loss available to be
offset against future income when a substantial change
in ownership occurs.  Therefore, the amount available
to offset future taxable income will be limited.  No
tax benefit has been reported in the financial
statements, because the Company believes there is a 50%
or greater chance the carryforwards will expire unused.
Accordingly, the potential tax benefits of the loss
carryforwards are offset by a valuation allowance of
the same amount.

NOTE 3 - DEVELOPMENT STAGE COMPANY

     The Company has not begun principal operations and
as is common with a development stage company, the
Company has had recurring losses during its development
stage.

NOTE 4 - COMMITMENTS

     As of September 30, 2001 all activities of the
Company have been conducted by corporate officers from
either their homes or business offices.  Currently,
there are no outstanding debts owed by the Company for
the use of these facilities and there are no
commitments for future use of the facilitates.

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

This Quarterly Report contains certain forward-looking
statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, which
are intended to be covered by the safe harbors created
thereby.  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.  Although the Company believes that the
assumptions underlying the forward-looking statements
contained herein are reasonable, any of the assumptions
could be inaccurate, and therefore, there can be no
assurance that the forward-looking statements included
in this Quarterly Report will prove to be accurate.  In
light of the significant uncertainties inherent in the
forward-looking statements including herein, the
inclusion of such information should not be regarded as
are 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 Alph-Net
Consulting Group, Ltd., a Nevada 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 Company had no sales or sales revenues for the
period ended September 30, 2001 or 2000 because it is a
shell company that has not had any business operations
for the past three years.

The Company had no costs of sales revenues for the
period ended September 30, 2001 or 2000 because it is a
shell company that has not had any business operations
for the past three years.  The Company had general and
administrative expenses for the three month period
ended September 30, 2001 in the amount of $1,449.

The Company recorded net income loss of $1,449 for the
three month period ended September 30, 2001 compared to
$59 loss for the comparable period in 2000.

CAPITAL RESOURCES AND LIQUIDITY

At September 30, 2001, the Company had total current
assets of $0 and total assets of $0 as compared to $0
current assets and $0 total assets at December 31,
2000.  The Company had a net working capital deficit of
$2,575 at September 30, 2001 with a net working capital
deficit of $215 at December 31, 2000.

Net stockholders' deficit in the Company was $2,575 as
of September 30, 2001 and $215 at December 31, 2000.


          PART II-OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None/Not Applicable.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES
HOLDERS

None/Not Applicable.

ITEM 5.  OTHER INFORMATION

None.

ITEM 6.  EXHIBITS

(a)      Exhibits. Exhibits required to be attached by
Item 601 of Regulation S-B are listed in the Index to
Exhibits on page 12 of this Form 10-QSB, and are
incorporated herein 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.


     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, this 21th day of November, 2001.

Alph-Net Consulting Group, Ltd.

/s/      Daniel L. Hodges
   ---------------------------
     Daniel L. Hodges
     November 21, 2001
     President/CFO and Director



     EXHIBIT INDEX

Exhibit No.        Page No.         Description

  na