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 EXCHANGE ACT OF 1934



For the quarterly period ended March 31, 2005



(  )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 000-30695



TURINCO,  INC.

(Exact name of registrant as specified in charter)



Nevada

87-0618509

(State or other jurisdiction of

(I.R.S. Employer

incorporation or organization)

Identification No.)



1981 East Murray Holiday Rd,  Salt Lake City, Utah

84117

(Address of principal executive offices)

(Zip Code)



801-272-9294

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),  Yes [x ]  No [  ] and (2) has been subject to such filing requirements for the past 90 days.  Yes [x ]   No  [  ]



APPLICABLE ONLY TO CORPORATE ISSUERS:



Indicate the number of shares outstanding of each of the issuer=s classes of common stock, as of the last practicable date



Class                                                        Outstanding as of March 31, 2005

Common  Stock, $0.001                                                           6,903,000









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_______________________________



INDEX

________________________________



Page

Number

PART I.





ITEM 1.

Financial Statements (unaudited)

3



Balance Sheets

4

March 31, 2005 and December 31, 2004



Statements of Operations

For the three months ended March 31, 2005 and 2004

5

and the period June 16, 1977 to March 31, 2005

Statements of Cash Flows

For the three months ended March 31, 2005 and 2004

6

and the period June 16, 1977  to March 31, 2005

Notes to Financial Statements

7



ITEM 2.

Plan of Operations

9



ITEM 3.

Controls and Procedures

10



PART II.



ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

11



Signatures

12





2









PART I - FINANCIAL INFORMATION

___________________________________________________





ITEM 1. FINANCIAL STATEMENTS

___________________________________________________









The accompanying balance sheets of Turinco, Inc.  ( development stage company)  at March 31, 2005 and December 31, 2004, and the related  statements of operations, and statements of cash flows, for the three months ended March 31, 2005 and 2004 and the period June 16, 1977  to March 31, 2005,  have been prepared by the Company=s management in conformity with accounting principles generally accepted in the United States of America.  In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.



Operating  results for the quarter ended March 31, 2005, are not necessarily indicative of the results that can be expected for the year ending December 31, 2005.











3









TURINCO,  INC.

( Development Stage Company)

BALANCE SHEETS

March 31, 2005 and December 31, 2004

_____________________________________________________________







|                                                       | (unaudited) |  | (audited)
|------------------------------------------------------ | ----------- |  | ---------
|                                                       | Mar 31,     |  | Dec 31,  
|                                                       | 2005        |  | 2004     
|ASSETS                                                 |             |  |          
|CURRENT ASSETS                                         |             |  |          
|                                                       |             |  |          
|Cash                                                   | $    11     |  | $ 1,232  
|                                                       |             |  |          
|Total Current Assets                                   | $    11     |  | $ 1,232  
|                                                       |             |  |          
|                                                       |             |  |          
|                                                       |             |  |          
|LIABILITIES AND STOCKHOLDERS' EQUITY                   |             |  |          
|CURRENT LIABILITIES                                    |             |  |          
|                                                       |             |  |          
|Accounts payable                                       | $     -     |  | $       -
|                                                       |             |  |          
|Total Current Liabilities                              | -           |  | -        
|                                                       |             |  |          
|                                                       |             |  |          
|STOCKHOLDERS' EQUITY                                   |             |  |          
|                                                       |             |  |          
|Common stock                                           |             |  |          
|100,000,000 shares authorized, at $0.001 par value;    |             |  |          
|6,903,000 shares issued and outstanding March 31, 2005 | 6,903       |  | 8,253    
|                                                       |             |  |          
|Capital in excess of par value                         | 90,560      |  | 88,310   
|                                                       |             |  |          
|Deficit accumulated during the development stage       | (97,452)    |  | (95,331) 
|                                                       |             |  |          
|Total Stockholders' Equity                             | $     11    |  | $1,232   









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



4









TURINCO,  INC.

( Development Stage Company)

STATEMENTS OF OPERATIONS -unaudited

For the Three  Months Ended March 31, 2005,  and 2004

and the Period June 16, 1977 (Date of Inception) to March 31, 2005

________________________________________________________________















|                            | Mar 31,    |  | Mar 31,    |  | Jun 16, 1977 to
|--------------------------- | ---------- |  | ---------- |  | ---------------
|                            | 2005       |  | 2004       |  | Mar  31, 2005  
|                            |            |  |            |  |                
|REVENUES                    | $       -  |  | $       -  |  | $        -     
|                            |            |  |            |  |                
|EXPENSES                    | 2,121      |  | 2,474      |  | 97,452         
|NET LOSS                    | $ (2,121)  |  | $ (2,474)  |  | $ (97,452)     
|                            |            |  |            |  |                
|                            |            |  |            |  |                
|                            |            |  |            |  |                
|NET LOSS PER COMMON SHARE   |            |  |            |  |                
|                            |            |  |            |  |                
|Basic                       | $        - |  | $        - |  |                
|                            |            |  |            |  |                
|                            |            |  |            |  |                
|                            |            |  |            |  |                
|AVERAGE  OUTSTANDING SHARES |            |  |            |  |                
|                            |            |  |            |  |                
|Basic                       | 6,903      |  | 8,253      |  |                



























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



5









TURINCO, INC.

( Development Stage Company)

STATEMENTS OF CASH FLOWS -unaudited

For the Three Months Ended March 31, 2005,  and 2004

and the Period June 16, 1977 (Date  of  Inception) to March 31, 2005

__________________________________________________________________





|                                                                          |           |          |           |  | Jun 16, 1977
|------------------------------------------------------------------------- | --------- | -------- | --------- |  | ------------
|                                                                          | Mar 31,   |          | Mar 31,   |  | to Mar 31,  
|                                                                          | 2005      |          | 2004      |  | 2005        
|                                                                          |           |          |           |  |             
|CASH FLOWS FROM OPERATING ACTIVITIES                                      |           |          |           |  |             
|                                                                          |           |          |           |  |             
|Net loss                                                                  | $ (2,121) |          | $ (2,474) |  | $(97,452)   
|                                                                          |           |          |           |  |             
|Adjustments to reconcile net loss to                                      |           |          |           |  |             
|net cash provided by operating activities                                 |           |          |           |  |             
|                                                                          |           |          |           |  |             
|Contributions to capital - expenses                                       | -         |          | -         |  | 13,463      
|Issuance of common stock for services                                     | -         |          | -         |  | 19,500      
|Change in accounts payable                                                | -         |          | 2, 072    |  | -           
|                                                                          |           |          |           |  |             
|Net Cash Used in Operations                                               | (2,121)   |          | (402)     |  | (64,489)    
|                                                                          |           |          |           |  |             
|CASH FLOWS FROM INVESTING ACTIVITIES                                      |           |          |           |  |             
|                                                                          | -         |          | -         |  | -           
|                                                                          |           |          |           |  |             
|CASH FLOWS FROM FINANCING ACTIVITIES                                      |           |          |           |  |             
|                                                                          |           |          |           |  |             
|Contribution to capital                                                   | 900       |          | -         |  | 900         
|Proceeds from issuance of common stock                                    | -         |          | -         |  | 63,600      
|                                                                          |           |          |           |  |             
|Net Increase (Decrease) in Cash                                           | (1,221)   |          | (402)     |  | 11          
|                                                                          |           |          |           |  |             
|Cash at Beginning of Period                                               | 1,232     |          | 1,467     |  | -           
|                                                                          |           |          |           |  |             
|Cash at End of Period                                                     | $    11   |          | $ 1,065   |  | $      11   
|                                                                          |           |          |           |  |             
|                                                                          |           |          |           |  |             
|NON CASH FLOWS FROM OPERATING ACTIVITIES                                  |           |          |           |  |             
|Issuance of 864,000 common shares for services - related parties  1981   |           | $ 12,000
|Issuance of 1,350,000 common shares for expenses - related parties - 1999 |           | 7,500   
|Contributions to capital - expenses - related parties - 2001-2003         |           | 13,464  



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



6









TURINCO,  INC.

( Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

March 31, 2005

________________________________________________________







1.

ORGANIZATION



The Company was incorporated under the laws of the State of Nevada on June 16, 1977 with authorized common stock of 2,500 shares with a par value of $0.25. On October 16, 1998  the authorized capital stock was increased to 100,000,000 shares with a par value of $0.001.



The Company is in the development stage and has been  engaged in the activity of  seeking developmental  mining properties however it  became inactive after 1982.



2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES



Accounting Methods



The Company recognizes income and expenses based on the accrual method of accounting.



Dividend Policy



The Company has not yet adopted a policy regarding payment of dividends.



Income Taxes



The Company utilizes the liability method of accounting for income taxes.  Under the liability method deferred tax assets and liabilities are determined based on the differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to reverse.  An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.



On March 31, 2005, the Company  had a  net operating loss  carry forward of  $97,452. The income  tax benefit of approximately $29,000 from the loss carry forward  has been fully offset by a valuation reserve because the use of the future tax benefit is undeterminable since the Company has no operations. The net operating loss will expire in 2026.



Basic and Diluted Net Income (Loss) Per Share



Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net income (loss) per share amounts are computed using the weighted average number of common shares and common equivalent shares outstanding as if shares had been issued on the exercise of any common or preferred share rights unless the  exercise becomes antidilutive and then only the basic per share amounts are shown in the report.



7









TURINCO,  INC.

( Development Stage Company)

NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2005

________________________________________________________________







2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(continued)



Financial Instruments



The carrying amounts of financial instruments  are considered by management to be their estimated fair value due their short term maturities.



Financial and Concentrations Risk



The Company does not have any concentration or related financial credit risk.



Revenue Recognition



Revenue will be recognized on the sale and delivery of a product or the completion of a service provided.



Advertising and Market Development



The company will expense advertising and market development costs as incurred.



Estimates and Assumptions



Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles.  Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses.  Actual results could vary from the estimates that were assumed in preparing these financial statements.



Recent Accounting Pronouncements



The Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its  financial statements.



3. CAPITAL STOCK



During 2005 an officer of the Company returned 1,350,000 post split common shares for cancellation

and the Company completed a forward stock split of nine shares for each outstanding share.  This report  has been prepared showing post split shares from inception.





8









TURINCO,  INC.

( Development Stage Company)

NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2005

______________________________________________________________









4.  SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES



Officers-directors have acquired 22% of the outstanding common stock of the Company and have made contributions to capital by payment of Company expenses of $13,463 and $900 in cash.



5.  GOING CONCERN



The Company intends to acquire  interests in various business opportunities which, in the opinion of management, will provide a profit to the Company, however there is insufficient working capital for any future planned activity, which raises substantial doubt about its ability to continue as a going concern.



Continuation of the Company  as a going concern is dependent upon obtaining additional working capital and the management of the Company has developed a strategy, which it believes will accomplish this objective through additional contributions to capital by payment of Company expenses, and additional equity funding which will enable the Company to conduct operations for the coming year.





9













___________________________________________________________________



ITEM 2.   PLAN OF OPERATIONS





___________________________________________________________________



The Company=s management is seeking and intends to acquire interests in various business opportunities which, in the opinion of management, will provide a profit to the Company but it does not have the working capital to be successful in this effort. The Company has had discussions with various parties regarding acquisitions. However, no definitive agreement has been entered into with any party.



Continuation of the Company as a going concern is dependent upon obtaining the working capital  necessary for its planned activity. The management of the Company has developed a strategy, which they believe can obtain the needed working capital through additional equity funding and long term debt which will enable the Company to continue operations for the coming year.



Liquidity and Capital Resources



The Company will need additional working capital  to finance its planned activity.



Results of Operations



The Company has had no operations during this reporting period.

_________________________________________________________







ITEM 3. CONTROLS AND PROCEDURES

_______________________________________________________________







Based on an evaluation as of the date of the end of the period covered by this Form 10-QSB, our Chief Executive Office and Chief Financial Officers, conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as required by Exchange Act Rule 13a-15.  Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by the SEC=s rules and forms.



Changes in Internal Controls



There were no significant changes in our internal controls over financial reporting that occurred during the quarter ended March 31, 2005 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.



Limitations on the Effectiveness of Controls



We believe that a control system, no matter how well designed and operated, cannot provide absolute assurance that the objectives of the control system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected.



10









PART 2 - OTHER INFORMATION

_________________________________________________________________



ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

__________________________________________________________________



(a) Exhibits



Exhibit 31.1      Rule 13a-14(a)/15d-14(a) Certification.

Exhibit 31.2      Rule 13a-14(a)/15d-14(a) Certification

Exhibit 32.1

Certification by the Chief Executive Officer Relating to a Periodic Report Containing Financial Statements.*

Exhibit 32.2

Certification by the  Chief Financial Officer Relating to a Periodic Report Containing Financial Statements.*



(b)  Reports on Form 8-K.



On March 17, 2005, The Company filed an 8K covering the following matters:



CHANGE OF DIRECTORS/PRINCIPAL OFFICERS

Effective March 17, 2005, the Company appointed Leonard G. Gordon to fill a vacancy on the board of directors and as Chief Financial Officer of the Company.



OTHER EVENTS

On March 17, 2005, the Company approved a nine for one forward split of its issued and outstanding shares of common stock for shareholders of records as of March 28, 2005. As of the record date, the Company had 767,000 shares issued and outstanding. Following the forward split, the Company will have 6,903,000 shares issued and outstanding.





* The Exhibit attached to this Form 10-Q shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to liability under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.



_________________________________________________________________





SIGNATURES

_________________________________________________________________









Next Page





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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 there unto duly authorized.





Turinco, Inc.

[Registrant]





Date:4/29/05

S/Penney L. Smith

Penney L. Smith- CEO





Date: 4/28/05

S/Leonard G. Gordon

Leonard G. Gordon CFO





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