QUARTERLY REPORT FOR SMALL BUSINESS ISSUERS SUBJECT
                     TO THE 1934 ACT REPORTING REQUIREMENTS

                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark One)

   [X]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
             EXCHANGE ACT OF 1934

                  For the quarterly period ended March 31, 2003

   [ ]     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:  333-36522


                           Axiom Pharmaceuticals, Inc
                           --------------------------
              (Exact name of small business issuer in its charter)


       Nevada                                                  75-2853946
-------------------------------                            -------------------
(State or other jurisdiction of                            (I.R.S. Employer
 incorporation or organization)                             Identification No.)


US Representative Office
8324 Delgany Avenue, Playa del Rey, CA                           90293
--------------------------------------------                    --------
(Address of principal executive offices)                       (Zip Code)

Issuer's telephone number    (310) 301-7728

         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  twelve  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
    ---      ---


     APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
     PROCEEDINGS DURING THE PRECEDING FIVE YEARS

     Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13, or 15(d) of the Exchange Act after the  distribution of
securities under a plan confirmed by a court.  Yes     No
                                                   ---    ---
     APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares  outstanding  of each of the issuer's class of common
equity,  as of the last  practicable  date:  As of May 28,  2003 the Company had
13,081,680   shares  of  voting  Common  Stock,   $.001  par  value  issued  and
outstanding.

     Transitional Small Business Disclosure Format (check one):
                                                                -----    -----


<PAGE>



                         PART I - FINANCIAL INFORMATION

ITEM I.  FINANCIAL STATEMENTS

                           AXIOM PHARMACEUTICALS, INC.
                           CONSOLIDATED BALANCE SHEET
                                 MARCH 31, 2003
                                   (UNAUDITED)

                                     ASSETS

Current assets
  Cash                                                              $   210,687
  Accounts receivable, net of allowance of $0                         1,427,107
  Inventories                                                         1,007,938
  Advances                                                              448,759
                                                                    -----------
    Total current assets                                              3,094,491

Property and equipment, net                                              52,281
Licenses                                                              1,449,748
                                                                    -----------

    TOTAL ASSETS                                                    $ 4,596,520
                                                                    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
  Value added tax payable                                           $ 1,444,517
  Accounts payable and accrued expenses                                 199,545
                                                                    -----------
    Total current liabilities                                         1,644,062
                                                                    -----------

STOCKHOLDERS' EQUITY:
  Preferred stock, $.001 par value, 10,000,000 shares authorized,
    no shares issued and outstanding                                       --
  Common stock, $.001 par value, 50,000,000 shares authorized,
    12,846,680 shares issued and outstanding                             12,847
  Additional paid-in capital                                          4,437,338
  Accumulated deficit                                                (1,497,727)
                                                                    -----------
    Total Stockholders' Equity                                        2,952,458
                                                                    -----------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                          $ 4,596,520
                                                                    ===========



<PAGE>


                           AXIOM PHARMACEUTICALS, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                   THREE MONTHS ENDED MARCH 31, 2003 AND 2002
                                   (UNAUDITED)

                                                      2003         2002
                                                   ----------   ----------
Revenues                                           $1,367,159   $  607,710

Cost of revenues                                      927,409      323,120
                                                   ----------   ----------

Gross profit                                          439,750      284,590

General, administrative and selling                   367,460       97,246
                                                   ----------   ----------

Net income                                         $   72,290   $  187,344
                                                   ==========   ==========














<PAGE>


                           AXIOM PHARMACEUTICALS, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                   THREE MONTHS ENDED MARCH 31, 2003 AND 2002
                                   (UNAUDITED)

                                                           2003         2002
                                                         ---------    ---------
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income                                             $  72,290    $ 187,344
  Adjustments to reconcile net loss to cash used in
    operating activities:
      Depreciation and amortization                          5,414         --
        Changes in assets and liabilities:
          Cash held in trust                               149,203       (7,969)
          Accounts receivable                             (494,106)    (104,286)
          Advances                                        (157,162)    (412,429)
          Inventories                                      316,987      233,142
          Accounts payable                                    --           --
          Value added tax payable                          232,446      157,654
          Accrued expenses                                 (20,581)     (53,456)
                                                         ---------    ---------
CASH FLOWS PROVIDED BY OPERATING
  ACTIVITIES                                               104,491         --
                                                         ---------    ---------

CASH FLOWS FROM INVESTING ACTIVITIES
  Cash received in reverse merger                              169         --
                                                         ---------    ---------

NET DECREASE IN CASH                                       104,660         --

Cash, beginning of period                                  106,027         --
                                                         ---------    ---------

Cash, end of period                                      $ 210,687    $    --
                                                         =========    =========

SUPPLEMENTAL NONCASH TRANSACTIONS:
Net liabilities assumed in reverse merger                $  22,692    $    --
                                                         =========    =========



<PAGE>




                           AXIOM PHARMACEUTICALS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1: PRESENTATION

The  balance  sheet of Axiom  Pharmaceuticals,  Inc. as of March 31,  2003,  the
related  consolidated  statements of operations for the three months ended March
31, 2003 and 2002 and the  consolidated  statements  of cash flows for the three
months  ended March 31, 2003 and 2002  included  in the  consolidated  financial
statements  have  been  prepared  by Axiom  without  audit.  In the  opinion  of
management,  the  accompanying  consolidated  financial  statements  include all
adjustments (consisting of normal, recurring adjustments) necessary to summarize
fairly Axiom's  consolidated  financial position and results of operations.  The
consolidated results of operations for the three months ended March 31, 2003 are
not necessarily indicative of the results of operations for the full year or any
other  interim   period.   Notes  to  the  financial   statements   which  would
substantially  duplicate  the  disclosure  contained  in the  audited  financial
statements  for the most  recent  fiscal  year  ended  December  31,  2002 to be
reported in Form 8-K/A, have been omitted.

















<PAGE>




ITEM 2.  MANANGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATIONS

The  following  discussion  should  be read in  conjunction  with our  Financial
Statements  and Notes  thereto  which  appear  elsewhere in this  document.  The
results  shown  herein  are not  necessarily  indicative  of the  results  to be
expected  in  any  future  periods.  This  discussion  contains  forward-looking
statements based on current expectations,  which involve  uncertainties.  Actual
results   and  the  timing  of  events   could   differ   materially   from  the
forward-looking  statements as a result of a number of factors.  Readers  should
also  carefully  review  factors set forth in other reports or documents that we
file from time to time with the Securities and Exchange Commission.

Overview

On March 14, 2003, we completed a Share  Exchange  (the "Share  Exchange ") with
Werke Pharmaceuticals,  Inc. ("Werke"), a Delaware corporation formed to develop
and finance the growth of Chinese based pharmaceutical companies. As a result of
the Share  Exchange,  Werke became our wholly owned  subsidiary.  Werke's wholly
owned operating  subsidiary is Shenyang  Tianwei Werke  Pharmaceutical  Co. Ltd.
("STWP),  a northern  China-based1  pharmaceutical  company.  Prior to the Share
Exchange,  we were in the business of searching for  hospitality  properties but
because of the  deteriorating  market had determined that we would search for an
ongoing  business that it could purchase  solely for stock rather than having to
raise  capital  to offer  cash  for a  business  enterprise.  As a  result,  the
comparisons below reflect the effect of the Share Exchange and the change in our
business  and  operations.   The  comparables  discussed  below  relate  to  the
operations  of Werke and its wholly  owned  subsidiary,  STWP,  for the  periods
discussed.  Additionally,  on March 18, 2003,  our board of  directors  voted to
change our fiscal year end from June 30 to December 31. You should also consider
the effect of this change in our fiscal year when reading the discussion below.

We anticipate seeking Chinese government  approval to repackage our product line
with the Axiom  Pharmaceutical  brand during the third quarter of 2003 following
completion  of a  full  redesign  and  reconfiguration  of our  products  by our
international  brand consulting firm and the initiation of the construction of a
new manufacturing and distribution facility in Shenyang, China.

Our  products  are  currently   primarily  sold  through   several  third  party
distributors to hospital pharmacies in the key cities of Shanghai, Guangzhou and
Shenyang.  The Company  anticipates  expanding its sales into retail  pharmacies
within  these  regions  during the next  quarter and will make efforts to expand
both  hospital  and retail  pharmacy  sales into other  regional  cities such as
Beijing.

We  are  currently   seeking  to  license  various  branded  OTC  products  from

--------------
1 All  references  to "China"  herein refer to the  People's  Republic of China,
unless otherwise indicated.


<PAGE>

identifiable  North  American   pharmaceutical  and  supplement   companies  for
distribution and manufacturing in China and Asia-Pacific.

COMPARISON OF RESULTS FOR THE FISCAL QUARTER ENDED MARCH 31, 2002, TO THE FISCAL
QUARTER ENDED MARCH 31, 2003.

Our first fiscal  quarter  ended on March 31st.  Any reference to the end of the
fiscal  quarter  refers to the end of the first  fiscal  quarter for the periods
discussed herein.

REVENUE.  Revenues increased by $759,449 or approximately 125% to $1,367,159 for
the  three  months  ended  March 31,  2003,  as  compared  to  $607,710  for the
comparable period of 2002. Revenues were significantly higher in the 2003 period
due to an improved and  streamlined  OEM  manufacturing  process and more robust
sales efforts of our product line, particularly the sale of Asarone.

EXPENSES. Total expenses increased by $309,950 or approximately 419% to $407,082
for the three  months  ended  March 31,  2003,  as  compared  to $97,132 for the
comparable period of 2002.

Expenses   related  to  selling  and   marketing  of  our   products   increased
significantly  primarily due to a 65% increase in the cost of producing  Asarone
and a 5% increase in packaging costs. We anticipate making efforts to change our
sourcing  process of the raw materials that go into the Asarone product in order
to reduce the costs of production in the future.

General and  Administrative  expenses  were higher due to property  fee payments
towards a proposed new factory site in Shenyang,  one time hospital bidding fees
and higher audit and legal expenses.

LIQUIDITY AND CAPITAL  RESOURCES.  We realized a modest profit during the fiscal
quarter  ended March 31,  2003.  Our net profit for the three months ended March
31, 2003 was $37,558 as compared to the comparable period of 2002, when we had a
net profit of $187,454.


ITEM 3.  CONTROLS AND PROCEDURES

We maintain controls and procedures designed to ensure that information required
to be  disclosed  in the  reports  that we file or submit  under the  Securities
Exchange Act of 1934 are recorded,  processed,  summarized,  and reported within
the time periods specified in the rules and forms of the Securities and Exchange
Commission.  Based  upon  their  evaluation  of those  controls  and  procedures
performed within 90 days of the filing date of this report,  our Chief Executive
and our Chief  Financial  Officer  concluded  that our  disclosure  controls and
procedures were adequate.

We made no significant changes in our internal controls or in other factors that
could  significantly  affect  these  controls  subsequent  to  the  date  of the
evaluations  of these  controls  by our Chief  Executive  Officer  and our Chief
Financial Officer.


<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

We are not involved in any lawsuits and are not aware of any pending litigation.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

RECENT SALES OF UNREGISTED SECURITIES

To accomplish the Share Exchange with the  shareholders  of Werke,  on March 14,
2003,  we issued an  aggregate  of  11,420,000  shares  of our  Common  Stock in
exchange for all of the issued and  outstanding  capital stock of Werke from the
shareholders of Werke. The shares issued to the Werke  Shareholders  were issued
to 25 US  accredited  investors  pursuant to a claim of exemption  under Section
4(2) of the  Securities  Act of 1933,  as  amended  and to 33  non-U.S.  persons
pursuant  to a claim of  exemption  under  Regulation  S  promulgated  under the
Securities Act.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

Not applicable.

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

On March 13, 2003,  Charles Smith,  who held 59.91% of our voting stock prior to
the Share Exchange consented in writing to the following actions:

     (i)  Approval Amended and Restated Share Exchange Agreement, dated December
          12, 2002, between the Company and the Shareholders of Werke.2
     (ii) That the  following  persons be appointed as directors of the Company:
          Wei  Shi  Wang,  Douglas  MacLellan,  Tom  Wang,  That  Ngo  and  Mark
          Elenowitz.


ITEM 5. OTHER INFORMATION

On April 30, 2003,  we issued 30,000  shares of our  restricted  Common Stock to
Rabelaisian Resources, Plc. pursuant to a consulting agreement between Axiom and
Rabelaisian  Resources,  Plc.  The shares  were  issued  pursuant  to a claim of
exemption under Section 4(2) of the Securities Act.

On April 30, 2003, we issued 150,000  shares of our  restricted  Common Stock to
Madden  Consulting,  Inc.  pursuant to a consulting  agreement between Axiom and


--------------
2 Although,  Mr. Smith provided his written consent to the Share  Exchange,  the
Company does not believe that such consent was required under Nevada Law.


<PAGE>

Madden Consulting,  Inc. The shares were issued pursuant to a claim of exemption
under Section 4(2) of the Securities Act.

On May 21,  2003,  we issued  40,000  shares of our  restricted  Common Stock to
Amaroq Capital,  LLC pursuant to a consulting agreement between Axiom and Amaroq
Capital,  LLC.  The shares were issued  pursuant to a claim of  exemption  under
Section 4(2) of the Securities Act.

On May 21,  2003,  we issued  15,000  shares of our  restricted  Common Stock to
McCartney Multimedia,  Inc. pursuant to a consulting agreement between Axiom and
McCartney  Multimedia,  Inc.  The  shares  were  issued  pursuant  to a claim of
exemption under Section 4(2) of the Securities Act.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a) The following exhibits are filed as part of this report.

         Exhibit No.           Document

           99.1     Certification of President and Principal  Accounting Officer
                    pursuant to 18 U.S.C.  Section 1350, as adopted  pursuant to
                    Section 906 of the Sarbanes-Oxley Act of 2002.

(b) Reports of Form 8-K

We filed the  following  Current  Reports on Form 8-K during the  quarter  ended
March 31, 2003:

On March 21, 2003, we filed a Current  Report on Form 8-K  disclosing  our Share
Exchange  with the  Shareholders  of Werke,  which was  amended by Form 8-K/A on
April 9, 2001. On May 29, 2003, we again amended our Current Report,  originally
filed on March 21, 2003, on Form 8-K/A to include financial statements regarding
our acquisition of Werke.







<PAGE>


                                   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.


Date:  May 29, 2003                         AXIOM PHARMACEUTICALS, INC.

                                           By:      /s/ That Ngo
                                                    --------------------------
                                                        That Ngo, President


                                                   /s/ Xian Fen Guo
                                                   ---------------------------
                                                       Xian Fen Guo,
                                                       Chief Financial Officer




                            CERTIFICATION OF THAT NGO
            PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

In connection  with the  accompanying  Quarterly  Report on Form 10-QSB of Axiom
Pharmaceuticals,  Inc. for the period  ended March 31,  2003,  as filed with the
Securities and Exchange  Commission on the date hereof, the undersigned,  in the
capacity and date indicated below, hereby certifies that:

1.   I  have   reviewed   this   quarterly   report  on  Form  10-QSB  of  Axiom
     Pharmaceuticals, Inc.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this annual report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     annual report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

   (a) designed such disclosure  controls and procedures to ensure that material
       information  relating  to  the  registrant,  including  its  consolidated


<PAGE>

       subsidiary,  is  made  known  to  us by  others  within  those  entities,
       particularly  during the period in which this  quarterly  report is being
       prepared;

   (b) evaluated the effectiveness of the registrant's  disclosure  controls and
       procedures  as of a date  within 90 days prior to the filing date of this
       quarterly report (the "Evaluation Date"); and

   (c) presented   in  this   quarterly   report  our   conclusions   about  the
       effectiveness  of the  disclosure  controls and  procedures  based on our
       evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

   (a) all  significant  deficiencies  in the design or  operation  of  internal
       controls which could adversely affect the registrant's ability to record,
       process,  summarize and report financial data and have identified for the
       registrant's auditors any material weaknesses in internal controls; and

   (b) any fraud,  whether or not material,  that  involves  management or other
       employees  who  have a  significant  role  in the  registrant's  internal
       controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly  report  whether  there  were  significant  changes  in  internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


By:  /s/ That Ngo                          Date:  May 29, 2003
     ---------------------------                  ------------
         That Ngo
         Chief Executive Officer
         And President


                          CERTIFICATION OF XIAN FEN GUO
            PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

In connection  with the  accompanying  Quarterly  Report on Form 10-QSB of Axiom
Pharmaceuticals,  Inc. for the period  ended March 31,  2003,  as filed with the
Securities and Exchange  Commission on the date hereof, the undersigned,  in the
capacity and date indicated below, hereby certifies that:

1.   I  have   reviewed   this   quarterly   report  on  Form  10-QSB  of  Axiom
     Pharmaceuticals, Inc.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue


<PAGE>

     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this annual report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     annual report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

   (a) designed such disclosure  controls and procedures to ensure that material
       information  relating  to  the  registrant,  including  its  consolidated
       subsidiary,  is  made  known  to  us by  others  within  those  entities,
       particularly  during the period in which this  quarterly  report is being
       prepared;

   (b) evaluated the effectiveness of the registrant's  disclosure  controls and
       procedures  as of a date  within 90 days prior to the filing date of this
       quarterly report (the "Evaluation Date"); and

   (c) presented   in  this   quarterly   report  our   conclusions   about  the
       effectiveness  of the  disclosure  controls and  procedures  based on our
       evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent functions):

   (a) all  significant  deficiencies  in the design or  operation  of  internal
       controls which could adversely affect the registrant's ability to record,
       process,  summarize and report financial data and have identified for the
       registrant's auditors any material weaknesses in internal controls; and

   (b) any fraud,  whether or not material,  that  involves  management or other
       employees  who  have a  significant  role  in the  registrant's  internal
       controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly  report  whether  there  were  significant  changes  in  internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

       /s/ Xian Fen Guo                       Date:  May 29, 2003
      ----------------------------                   ------------
           Xian Fen Guo,
           Chief Financial Officer