UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington D. C. 20549

                                   FORM 10-QSB

   ( X ) Quarterly report pursuant to Section 13 or 15(d) of the Securities
                            and Exchange Act of 1934.

                For the quarterly period ended March 31, 2000.

  ( ) Transition report pursuant to Section 13 or 15(d) of the Exchange Act
        for the transition period from _________________ to ____________ .



                             Commission File Number:

                                 URAG CORPORATION

              (Exact name of registrant as specified in charter)

                       Delaware               Pending

                (State of Incorporation) (I.R.S. Employer I.D. No)

                     1490 Blue Jay Circle, Weston, FL 33327

                   (Address of Principal Executive Offices)

                                 (954) 385-2553

             (Registrant's Telephone Number, Including Area Code)

Check whether the registrant:  (1) has filed all reports required to be filed by
Section 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 ( ) NO ( X )

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
stock as of March 30, 2000.

                             5,000,000 Common Shares

Transitional Small Business Disclosure Format:

                                 YES ( ) NO (X)





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<PAGE>



                                 URAG CORPORATION

                              INDEX TO FORM 10-QSB

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements (unaudited)

         Balance Sheets for the period November 8, 1999 (date of  incorporation)
         to March 31, 2000 and the three month period
         ended March 31, 2000 ..............................................  3

         Statements  of  Operations  for the period  November  8, 1999 (date of
         incorporation) to March 31, 2000 and the three month period
         ended March 31, 2000...............................................  4

         Statement of Stockholders' Equity for the three months
         ended  March 31, 2000..............................................  5

         Statement  of Cash  Flows for the  period  November 8, 1999 (date of
         incorporation) to March 31, 2000 and the three month period
         ended March 31, 2000...............................................  6

         Notes to Financial Statements......................................  7

Item 2. Management's Discussion and Analysis of Financial Condition and
        Results of Operations or Plan of Operations.......................... 8


PART II.    OTHER INFORMATION

Item 1. Legal Proceedings.................................................... 8
Item 2. Changes in Securities................................................ 8
Item 3. Defaults Upon Senior Securities...................................... 8
Item 4. Submission of Matters to a Vote of Securities Holders................ 8
Item 5. Other Information.................................................... 8
Item 6. Exhibits and Reports on Form 8-K..................................... 8

Signatures





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<PAGE>

                                 URAG CORPORATION
                        (A Development Stage Enterprise)

                                  BALANCE SHEET
<TABLE>
<CAPTION>

                                                        March 31,             December
                                                        2000                  31, 1999
                                                       (Unaudited)
<S>                                                    <C>                  <C>
    ASSETS


    TOTAL ASSETS - CASH                                 $   500               $   500
                                                        =   ===               =   ===



    LIABILITIES AND STOCKHOLDERS' EQUITY

      LIABILITIES -Accrued liabilities                    1,500                 1,500

    STOCKHOLDERS' EQUITY:
    Preferred stock - $.0001 par value:5,000,000 shares
    authorized; zero shares issued and outstanding

    Common stock - $.0001 par value;  20,000,000 shares
    authorized; 5,000,000 shares issued and outstanding     500                   500

    Additional  paid-in capital                           2,057                 2,057

    Deficit accumulated during the development stage     (3,557)               (3,557)
                                                        -----------           ----------


        Total stockholders' deficit                      (1,000)               (1,000)
                                                        -----------           ----------


    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY          $   500             $     500
                                                        =   ===             =     ===
</TABLE>





    SEE NOTES TO FINANCIAL STATEMENTS.





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<PAGE>







                               URAG CORPORATION
                       (A Development Stage Enterprise)

                           STATEMENTS OF OPERATIONS
                                 (Unaudited)




                                     Three Months            November 8,1999
                                    Ended March 31,      (date of incorporation)
                                        2000                to March 31, 2000
                                  ___________________    ______________________

    EXPENSES:

     Professional fees and expenses       $  0                    $  3,258
     Organization costs                   $  0                    $    299


    NET LOSS                              $  0                    $ (3,557)
                                            ===                   =========


    NET LOSS PER SHARE                   $   0.00                 $   0.00
                                          ========                 ========





   SEE NOTES TO FINANCIAL STATEMENTS.





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<PAGE>







                                 URAG CORPORATION
                          (A Development Stage Enterprise)

                      STATEMENT OF STOCKHOLDERS' EQUITY
                  For the three months ended March 31, 2000
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                      Deficit
                                                                      Accumulated
                                                         Additional   During the
                                   Common Stock          Paid in      Development
                                Shares       Value       Capital      Stage         Total
                               ---------   --------    -----------    ----------   ---------
<S>                           <C>         <C>         <C>           <C>          <C>

Balances,December 31,1999     5,000,000    $    500    $    2,057    $ (3,557)    $  (1,000)
Capital  contribution              -               -             -          -             -
Capital Contribution of Service    -               -             -          -             -
Net loss for the three
 months ended March 31,            -               -             -          -             -
                              ----------   ------------  -----------   ---------   ----------

Balances March 31, 2000       5,000,000    $    500    $    2,057    $ (3,557)   $   (1,000)
                              =========     =========   ==========   ===========   ==========
</TABLE>



SEE NOTES TO FINANCIAL STATEMENTS.





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<PAGE>





                                URAG CORPORATION
                         (A Development Stage Enterprise)

                             STATEMENT OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>




                                                       Three Months              November 8,1999
                                                       Ended March 31,          (date of incorporation)
                                                       2000                      to March 31, 2000
                                                      -----------------         -----------------------

<S>                                                        <C>                         <C>
CASH FLOWS FROM OPERATING ACTIVITIES - Net loss                 $0                       $(3,557)
                                                                --                        -------
   Adjustments to reconcile net loss to net cash
   used by operating activities - increase in accrued
   liabilities                                                  -                          1,500
                                                             -----                         ------

NET CASH USED IN OPERATING ACTIVITIES                           -                         (2,057)
                                                                                          -------


CASH FLOWS FROM FINANCING ACTIVITIES:
   Proceeds from the issuance of common stock                   -                           500
   Capital contributions                                        -                         2,057
                                                                                          ------

CASH PROVIDED BY FINANCING ACTIVITIES                           -                         2,557
                                                                                          ------


NET INCREASE IN CASH AND CASH EQUIVALENTS                       -                          500

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                500                            0
                                                             ------                       ------
CASH AND CASH EQUIVALENTS, END OF PERIOD                     $500                         $500
                                                             ====                         ======



SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

   Interest paid                                               $0                          -
                                                               ==                          =

   Taxes paid                                                  $0                          -
                                                               ==                          =
</TABLE>





SEE NOTES TO FINANCIAL STATEMENTS.





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<PAGE>


                                 Urag Corporation

                         (A Development Stage Enterprise)

                          NOTES TO FINANCIAL STATEMENTS

                                   (Unaudited)

NOTE A - FORMATION AND OPERATIONS OF THE COMPANY

Argen Corporation  ("we",  "us",  "our") was incorporated  under the laws of the
state  of  Delaware  on  November  8,  1999.  We  are  considered  to be in  the
development stage, as defined in Financial  Accounting Standards Board Statement
No. 7. We intend to investigate and, if such investigation  warrants,  engage in
business  combinations.  Our planned  principal  operations  have not commenced,
therefore accounting policies and procedures have not yet been established.

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

Our accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting  principals for interim financial information
and the  instructions  to Form  10-QSB  and Rule 10-1 of  Regulation  S-X of the
Securities and Exchange  Commission  (the"SEC").  Accordingly,  these  financial
statements  do not include all of the footnotes  required by generally  accepted
accounting principals. In the opinion of management, all adjustments (consisting
of  normal  and  recurring   adjustments)   considered   necessary  for  a  fair
presentation  have been included.  Operating  results for the three months ended
March  31,  2000  are not  necessarily  indicative  of the  results  that may be
expected for the year ended December 31, 2000.

NOTE B - GOING CONCERN

The  accompanying  financial  statements  have been  prepared on a going concern
basis,  which  contemplates  the  realization of assets and the  satisfaction of
liabilities in the normal course of business.  We have an accumulated deficit of
$3,557 as of March 31, 2000. We do not currently  engage in business  activities
that  provide  any cash flow,  accordingly  our  ability to  continue as a going
concern is dependent on our management's  ability to fund our cash  requirements
until a business  combination is closed. These factors among others may indicate
that we will be unable to continue as a going concern for a reasonable period of
time.

The financial  statements do not include any adjustments that might be necessary
if we are unable to continue as a going concern.

NOTE C - INCOME TAXES

During the period November 8, 1999 (date of incorporation) to December 31, 1999,
we recognized losses for both financial and tax reporting purposes. Accordingly,
no  deferred  taxes have been  provided  for in the  accompanying  statement  of
operations.

NOTE D - RELATED PARTY TRANSACTION

Our President, who is also a shareholder, has agreed, in writing, to fund all of
our expenses  until such time as an acquisition  transaction is closed.  None of
these  funds  expended  on our behalf  will be  reimbursable  to our  President,
accordingly  these  amounts  will be reflected in our  financial  statements  as
contributed capital.





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<PAGE>



Item 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The  following  discussion  and  analysis  should  be read in  conjunction  with
financial statements as of and for the period ended March 31, 2000 included with
this Form 10-QSB.

We are  considered  to be in the  development  stage  as  defined  in  Financial
Accounting  Standards  Board  Statement  No. 7, and have neither  engaged in any
operations  nor generated any revenues to date. We have no assets.  Our expenses
from inception through March 31, 2000, all funded by a capital contribution from
management, are $3,557.

Substantially all of our expenses that must be funded by management will be from
our  effort s to  identify  a  suitable  acquisition  candidate  and  close  the
acquisition.  Management  has agreed in  writing  to fund our cash  requirements
until an  acquisition  is closed.  So long as  management  does so, we will have
sufficient funds to satisfy our cash requirements.  This is primarily because we
anticipate  incurring  no  significant  expenditures.  Before the  closing of an
acquisition,  we anticipate our expenses to be limited to accounting fees, legal
fees, telephone, mailing, filing fees and occupational license fees.

We do not intend to seek additional financing.  At this time we believe that the
funds to be provided by management will be sufficient for funding our operations
until we find an acquisition and therefore do not expect to issue any additional
securities before the closing of a business combination.

Readers are referred to the cautionary statement, which addresses forward-
looking statements made by the Company.

                          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 Securities Holders

    NONE

Item 5. Other Information

    NONE

Item 6. Exhibits and Reports on Form 8-K

    NONE

                                   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.

  June 14, 2000                   /s/ Alfred Arberman

   Date                           Alfred Arberman, President



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