SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 10-QSB

[X]  Quarterly Report under Section 13 or 15d of the Securities  Exchange Act of
     1934 for the quarterly period ended: June 30, 2000

[ ]  Transition report pursuant to Section 13 or 15d of the Securities  Exchange
     Act of 1934
     For the Transition period from ________ to ________.

                        Commission file number: 333-45210

                               Supreme Hospitality
                               -------------------
             (Exact name of registrant as specified in its charter)


                             Formerly Richwood, Inc.
                            Formerly Grubstake, Inc.
                            ------------------------
                   (Former name if changed since last report)

       Nevada                                            88-0460457
-----------------------                     ------------------------------------
(State of incorporation)                    (IRS employer identification number)

                              41919 Skywood Drive
                            Temecula, CA 92591-1877
                            -----------------------
                    (Address of principal executive offices)

          Issuer's telephone number, including area code: 909-506-3435

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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
     ---       ---


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

TITLE OF EACH CLASS                            OUTSTANDING JUNE 30, 2000
----------------------------------             ---------------------------------
Common Stock, par value  $.0001                10,000,000 shares of common stock
Preferred Stock, par value  $.0001



Transitional Small Business Disclosure Format (check one)
Yes       No  X
    ---      ---




<PAGE>



                               SUPREME HOSPITALITY

                                      INDEX
                                                                        PAGE
                                                                        ----

PART I   FINANCIAL INFORMATION

Item 1.  Financial Statements

         Consolidated Balance Sheet as of June 30, 2000                   4

         Consolidated Statements of Operations for the Six Months         6
              Ended June 30, 2000

           Consolidated Statement of Cash Flows for the Six Months        7
              Ended June 30, 2000

         Notes to Financial Statements                                    8

Item 2.  Management's Discussion and Analysis or Plan of Operation       11


PART II - OTHER INFORMATION

Item 1.  Legal Proceedings                                               13

Item 2.  Change in Securities                                            13

Item 3.  Defaults Upon Senior Securities                                 13

Item 4.  Submission of Matters to a Vote of Security Holders             13

Item 5.  Other Information                                               13

Item 6.  Exhibits and Reports on Form 8-K                                13

         Signature                                                       13





                                                                    Page 2 of 13




<PAGE>



WEBB & RITCHEY
--------------------------------------------------------------------------------
                                                    CERTIFIED PUBLIC ACCOUNTANTS
                                                      A Professional Corporation


December 2, 2000

The Board of Directors
Supreme Hospitality
Temecula, California

We have  prepared  the  accompanying  unaudited  consolidated  balance  sheet of
Supreme Hospitality as of June 30, 2000 and the related unaudited  statements of
income,  shareholder's equity (deficit),  and cash flows for the six months then
ended.

Unaudited  financial  statements  are  limited  to  presenting  in the  form  of
financial  statements  information that is the representation of management.  We
have  not  audited  or  reviewed  the  accompanying  financial  statements  and,
accordingly, do not express an opinion or any other form of assurance on them.



/s/  Webb & Ritchey
-------------------
     Webb & Ritchey, CPA'S - A Professional Corporation








--------------------------------------------------------------------------------
41661 Enterprise Circle No. #211 o Temecula, CA 92590 o (909) 296-9755



                                                                    Page 3 of 13


<PAGE>

PART I - FINANCIAL INFORMATION

Item 1 - Financial Statements

                              Supreme Hospitality
                      Unaudited Consolidated Balance Sheet
                                  June 30, 2000

ASSETS
      Current Assets
          Cash                                             $        61,303
          Receivables                                               29,169
          Other Current Assets                                      17,404
                                                           ----------------

      Total Current Assets                                         107,876
      Property and Equipment
          Building                                               3,002,961
          Furniture & Equipment                                  1,009,722
          Land                                                   1,362,048
          Land Improvements                                        344,714
          Vehicles                                                  24,199
          Accumulated Depreciation                                (382,713)
                                                           ----------------

      Total Property and Equipment                               5,360,931
      Other Assets
          Deposits                                                   7,200
          Franchise Costs                                                -
          Loan Fees, Net of Amortization                            46,525
                                                           ----------------

      Total Other Assets                                            53,725
                                                           ----------------

TOTAL ASSETS                                               $     5,522,532
                                                           ================



                            SEE ACCOUNTANT'S REPORT

                                                                    Page 4 of 13

<PAGE>

                              Supreme Hospitality
                      Unaudited Consolidated Balance Sheet
                                  June 30, 2000


LIABILITIES & EQUITY
      Liabilities
          Current Liabilities
                  Accounts Payable                        $       178,170
                  Accrued Interest                                 38,602
                  Accrued Other Liabilities                        26,434
                  Guest Advance Deposits                           12,573
                  Current Maturities-LT Debt                      299,686
                                                          ----------------

          Total Current Liabilities                               555,465

          Total Long Term Liabilities                           5,091,207
                                                          ----------------

      Total Liabilities                                         5,646,672
      Shareholder Equity
          Common Stock                                              1,000
          Additional Paid In Capital                               21,950
          Retained Earnings                                      (147,090)
                                                          ----------------

      Shareholders' (Deficit)                                    (124,140)
TOTAL LIABILITIES & SHAREHOLDERS' DEFICIT                 $     5,522,532
                                                          ================


                            SEE ACCOUNTANT'S REPORT



                                                                    Page 5 of 13

<PAGE>

                               Supreme Hospitality
                  Unaudited Consolidated Statement of Net Loss
                     For the Six Months Ended June 30, 2000



        REVENUES                                              $      684,711
        OPERATING EXPENSES
              Salaries                                               147,922
              Depreciation and amortization                          115,902
              Professional Fees                                       67,719
              Other Operating Expenses                                91,921
              Utilities                                               27,466
              Payroll tax and personnel costs                         14,799
              Repairs and Maintenance                                 22,315

        TOTAL OPERATING EXPENSES                                     488,044
                                                              ---------------
        INCOME FROM OPERATIONS                                       196,667
                                                              ---------------

        OTHER EXPENSE
              Interest Expense                                       287,257

        NET LOSS BEFORE EXTRAORDINARY ITEMS                   $      (90,590)

                                                              ---------------
        EXTRAORDINARY ITEM-Fee Paid to Underwriter                   (56,500)
                                                              ---------------

        NET LOSS                                              $     (147,090)
                                                              ===============

        EARNINGS (LOSS) PER COMMON SHARE
              Before Extraordinary Items                      $       (0.009)
                                                              ===============


              On Net Loss                                     $       (0.015)
                                                              ===============



                            SEE ACCOUNTANT'S REPORT


                                                                    Page 6 of 13


<PAGE>

<TABLE>

<CAPTION>

                    Supreme Hospitality
             Unaudited Statement of Cash Flows
          For the Six Months Ended June 30, 2000

<S>                                                                 <C>

CASH FLOWS FROM OPERATING ACTIVITIES
              Net Loss                                                    (147,900)
              Adjustments to reconcile net (loss) to net cash
                    provided by operating activities
                    Depreciation                                           133,886
                    (Increase) decrease in:
                           Receivables                                     135,248
                           Other Current Assets                             (6,081)
                    (Increase) decrease in:
                           Current Liabilities                              69,426
                                                                    ---------------
              Net cash provided by operating activities                    184,579

CASH FLOWS FROM FINANCING ACTIVITIES
              Cash paid on long-term debt                                  (98,456)
                                                                    ---------------
                    Net cash (used) by financing activities                (98,456)

CASH FLOWS FROM INVESTING ACTIVITIES
              Purchase of franchise                                              -
              Purchase of furniture and equipment                           12,597
              Cash received on note receivable-Shareholder                 (73,388)
              Cash received from reqacquired common stock                   21,950
                                                                    ---------------
                    Net cash provided by investing activities              (38,841)

NET INCREASE (DECREASE) IN CASH                                             47,282

BEGINNING CASH                                                              14,021
                                                                    ---------------
ENDING CASH                                                         $       61,303
                                                                    ===============

                                                                    ---------------
Supplemental Disclosures - Cash paid for interest                   $      287,257
                                                                    ===============
</TABLE>



                            SEE ACCOUNTANT'S REPORT


                                                                    Page 7 of 13

<PAGE>

                               SUPREME HOSPITALITY
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)


Note 1 - History And Organization Of The Company
------------------------------------------------

In the opinion of management,  the accompanying  unaudited  condensed  financial
statements   contain  all  adjustments  (all  of  which  were  normal  recurring
adjustments)  necessary  to present  fairly the  financial  position  of Supreme
Hospitality  (the "Company") at June 30, 2000, and the results of its operations
and its cash flows for the three  months  ended June 30,  2000.  The  results of
operations  for the  interim  periods  ended June 30,  2000 are not  necessarily
indicative of the results to be expected for the full year.


The Company was  organized  November  10,  1997,  under the laws of the State of
Nevada as  GRUBSTAKE,  INC.  The  Company  currently  has no  operations  and in
accordance  with SFAS #7, is  considered a development  company.  On December 1,
1998,  the Company  changed its name to RICHWOOD,  INC. On April 17,  2000,  the
Company changed its name to SUPREME HOSPITALITY.


Note 2 - Unaudited Interim Financial Information
------------------------------------------------

The accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting principles for interim financial information.
Accordingly,  they do not include all the information and footnotes  required by
generally accepted accounting principles for financial  statements.  For further
information, refer to the audited financial statements and notes thereto for the
two months ending  February 29, 2000 for Temecula  Valley Inn, Inc., and for the
one month  ending  April  30,  2000 for  Supreme  Hospitality,  included  in the
Company's  Form 10SB12G/A  filed with the Securities and Exchange  Commission on
June 29, 2000.


Note 3 - Summary Of Significant Accounting Policies
---------------------------------------------------

Accounting Method
-----------------

The Company records income and expenses on the accrual method.

Estimates
---------

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires 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 revenue and expenses during the reporting period. Actual
results could differ from estimates.

Cash and Equivalents
--------------------

The  Company  maintains  a cash  balance  in a  non-interest-bearing  bank  that
currently  does not exceed  federally  insured  limits.  For the  purpose of the
statements  of cash flows,  all highly liquid  investments  with the maturity of
three months or less are  considered to be cash  equivalents.  There are no cash
equivalents as of June 30, 2000.

Income Taxes
------------

Income  taxes are  provided  for using the  liability  method of  accounting  in
accordance with Statement of Financial  Accounting Standards No. 109 (SFAS #109)
" Accounting  for Income  Taxes".  A deferred tax asset or liability is recorded
for all temporary  difference between financial and tax reporting.  Deferred tax
expense  (benefit)  results from the net change  during the year of deferred tax
assets and liabilities.


                                                                    Page 8 of 13

<PAGE>



Reporting on Costs of Start-Up Activities, Loss Per Share, Year End
-------------------------------------------------------------------

Statement of Position  98-5 ("SOP  98-5"),  "Reporting  on the Costs of Start-Up
Activities" which provides guidance on the financial reporting of start-up costs
and organization costs. It requires most costs of start-up activities and
organization costs to be expensed as incurred.  SOP 98-5 is effective for fiscal
years beginning  after December 15, 1998.  With the adoption of SOP 98-5,  there
has been little or no effect on the company's financial statements.

Net loss per  share is  provided  in  accordance  with  Statement  of  Financial
Accounting  Standards No. 128 (SFAS #128)  "Earnings Per Share".  Basic loss per
share is computed by dividing  losses  available to common  stockholders  by the
weighted average number of common shares outstanding during the period.  Diluted
loss per share  reflects per share  amounts that would have resulted if dilative
common stock  equivalents  had been  converted to common stock.  As of April 29,
2000,  the  Company  had no  dilative  common  stock  equivalents  such as stock
options.

The Company has selected December 31, as its fiscal year-end.


Note 4 - Income Taxes
---------------------

There is no provision  for income taxes for the period ended June 30, 2000,  due
to the net loss and no state  income tax in Nevada,  the state of the  Company's
domicile and  operations.  The Company's total deferred tax asset as of December
31, 1999 is as follows:

Net operation loss carry forward            $2,755
Valuation allowance                         $2,755

Net deferred tax asset                      $    0

The federal net operating loss carry forward will expire between 2018 and 2019.

This  carry  forward  may  be  limited  upon  the  consummation  of  a  business
combination under IRC Section 381.


Note 5 - Stockholders' Equity
-----------------------------

Common  Stock,  .0001  par  value,  50,000,000  shares  authorized,  issued  and
outstanding 10,000,000

10% Preferred Stock, .0001 par value,  dividends  cumulative,  convertible after
three years into common stock at a ratio of three shares of common stock for one
share of preferred stock authorized 1,000,000,000 shares, none issued


Note 6 - Warrants And Options
-----------------------------

There are no warrants or options outstanding to acquire any additional shares of
common or preferred stock.


Note 7 - Related Party Transactions
-----------------------------------

The Company neither owns nor leases any real or personal property. An officer of
the  corporation  provides  office  services  without  charge.  Such  costs  are
immaterial to the financial statements and accordingly,  have not been reflected
therein.  The  officers  and  directors  of the  Company  are  involved in other
business  activities  and may in the future,  become  involved in other business
opportunities.  If a  specific  business  opportunity  becomes  available,  such
persons  may face a conflict  in  selecting  between the Company and their other
business  interests.  The Company has not formulated a policy for the resolution
of such conflicts.



                                                                    Page 9 of 13

<PAGE>



Note 8 - Prior Interim Quarterly Statements
-------------------------------------------

The SEC  requires  if the  interim  period  is more  than  one  quarter,  income
statements  must also be provided  for the most recent  interim  quarter and the
comparable  quarter of the preceding  fiscal year.  The Company did not have any
activity prior to the reverse merger on April 17, 2000.


Note 9 - Material Subsequent Events
-----------------------------------

The Company on July 1, 2000 entered into a franchise  agreement with Days Inn of
America. The franchise fee is 8 1/2% of gross room revenues payable monthly. The
first two months  were  charged at a reduced  rate of 2%.  The  Company  expects
increased  room revenues due to Days Inn of America  national and  international
marketing programs.














                                                                   Page 10 of 13




<PAGE>


Item 2 - Management's Discussion And Analysis Or Plan Of Operations
-------------------------------------------------------------------

The Company  was  organized  for the purpose of creating a corporate  vehicle to
seek,  investigate and, if such investigation  warrants,  acquire an interest in
one or more  business  opportunities  presented to it by persons or firms who or
which desire to seek perceived  advantages of a publicity held  corporation.  On
April 30, 2000 the Company (SUPREME  HOSPITALITY)  acquired TEMECULA VALLEY INN,
INC., (a Nevada corporation) as a wholly owned subsidiary of Supreme Hospitality
in exchange of Common Stock,  Sub Curia.  The primary activity of the Company is
the  hospitality  business  for both the business  and leisure  traveler,  and a
90-room hotel was built and opened in1998.  The executive offices of the company
are located at 41919 Skywood Drive,  Temecula,  California  92591. Its telephone
number is (909) 506-3435.  Of the 50,000,000 shares of the SUPREME HOSPITALITY'S
Common  Stock,  1,000,000  are  currently  freely  tradable  under the Rule 144k
exemption  promulgated under the Securities Act of 1933. See Item 8 "Description
of Securities."

The Company may obtain funds for additional hotel construction or acquisition by
private  placements,  equity or debt issues.  Persons  purchasing  securities in
these placements and other  shareholders will likely not have the opportunity to
participate in the decision relating to any acquisition.  Investors will entrust
their investment monies to the Company's management before they have a chance to
analyze any  ultimate  use to which their  money may be put.  Consequently,  the
Company's  potential success is heavily  dependent on the Company's  management,
which  will  have  virtually   unlimited   discretion  in  new  construction  or
acquisition.

The Company plans to develop and construct  additional  properties in the future
and has an  option to  purchase  for  $1,300,000,  approximately  2.61  acres of
approved  hotel  property,  including  a complete  package  which  consists of a
business  plan,  construction  costs,  drawings,  etc.  This property is located
adjacent to Interstate 5 and Hilltop Drive in Redding,  California.  This parcel
is the last available hotel property in this immediate area. The current plan is
to exercise  the purchase  option and develop and build a 99-room  hotel on this
property. This development is anticipated to be the next development the Company
will  undertake.  The cost is estimated to be $5,850,000 for land,  building and
improvements.  This  property is included in the  financial  projections  and is
scheduled to commence operations in the fourth quarter of 2001.

The Company has identified  other  properties in the Temecula Valley of Southern
California to acquire,  develop and build hotels.  This will be done through the
raising of  additional  equity  funds.  An  additional  property in the Temecula
Valley is included on the  financial  projections  commencing  operations in the
third  quarter of 2002.  Development  cost for a 120-room  hotel is estimated at
$7,800,000 for land development, building and improvements.


The  management  of the  Company  believes  that the  Temecula  Valley area will
continue to see unprecedented  growth not seen since the mid 1980's. The Company
is poised to take  advantage  of that  growth,  given it can meet its  financial
requirements.

The Company  believes that through the  acquisition  of the land and  subsequent
development  of these  properties,  shareholder  value  will be  increased.  The
management  team has the expertise to identify prime  properties and negotiate a
fair price for the land and develop it and build a quality facility,  which will
increase in value.

As is customary in the industry, the Company may pay a finder's fee for locating
an  acquisition  prospect.  If any such fee is paid,  it will be approved by the
Company's  Board of  Directors  and  will be in  accordance  with  the  industry
standards.  Such  fees  are  customarily  between  1% and 5% of the  size of the
transaction,  based upon a sliding scale of the amount  involved.  Such fees are
typically in the range of 5% on a $1,000,000 transaction ratably down to 1% in a
$4,000,000 transaction. Management has adopted a policy that such a finder's fee
or real estate  brokerage fee could,  in certain  circumstances,  be paid to any
employee,  officer,  director or 5% shareholder  of the Company,  if such person
plays a material role in bringing in a transaction to the Company.


                                                                   Page 11 of 13

<PAGE>


Item 3 - Description Of Property
--------------------------------

A 90-room 3-story hotel, Temecula Valley Inn (TVI) in Temecula,  California, was
constructed  and opened  for  business  on  December  5, 1998.  It is one of the
premier hotel properties in the Temecula Valley.  Though cyclical in nature, the
TVI's occupancy  rates  have  continued  to  grow.  TVI  has  chosen  to  remain
independent  of any  national or regional  franchise in order to keep costs down
and allow for  autonomous  management  TVI has developed its own website to take
advantage  of the  growing  Internet  market.  The  property's  web  address  is
Www.temeculavalley.com.

The Company currently serves the business traveler who requires  perceived value
for  the  nightly  rate  he/she  pays.   Through  active  marketing  to  various
corporations the Company has been successful during its first year of operations
of  attracting  a  reasonable  volume of corporate  business.  On weekends,  the
Company attracts customers who are typically in town to attend various community
functions  including but not limited to the "Balloon and Wine  Festival" and the
"Rod Run".  During the summer  months  there are  activities  in the area almost
every weekend.  Occupancy rates during these weekends approached 100% on average
during the first year of operations.

There are 11 hotels and motels,  with 810 rooms, in the community area including
Temecula Valley Inn. The property has excellent  visibility and easy access from
Interstate 15. There are numerous  restaurants  within  walking  distance of the
Hotel.

The Company is beyond the break-even point and can satisfy its cash requirements
in the  foreseeable  future.  The Company  expects  occupancy  rates to steadily
increase  every year due to its  marketing  efforts  and the growth of  Temecula
Valley.


"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT:

With the  exception of  historical  information,  the matters  discussed in this
Report are "forward looking statements" as the term is defined in Section 27A of
The Securities Act of 1933, as amended (the "Securities Act") and Section 21E of
The Securities  Exchange Act of 1934, as amended (the "Exchange Act").  While we
Believe that our strategic plan is on target, several important factors, many of
Which are beyond our control, have been identified which could cause the
Successful  implementation  of our  business  plan  to  differ  materially  from
planned,  implied or predicted results. We are a development stage company;  our
profitability  will depend upon the  successful  implementation  of our business
plan or a merger or acquisition by a more  established  company in the industry.
Although   management   believes  that  the  expectations   reflected  in  these
forward-looking  statements are reasonable,  it can give no assurances that such
expectations will prove to have been correct. Important factors that could cause
actual results to differ  materially from the expectations are discussed in this
Report, including, without limitation, in conjunction with those forward-looking
statements contained in this Report.






                                                                   Page 12 of 13

<PAGE>



PART II - OTHER INFORMATION
---------------------------

Item 1 - Legal Proceedings
--------------------------

To the best of the Company's knowledge,  there are no material legal proceedings
pending against the Company or any of its property,  nor was any such proceeding
terminated during the quarter ended June 30, 2000.


Item 2 - Change In Securities
-----------------------------

This item is not applicable.


Item 3 - Defaults Upon Senior Securities
----------------------------------------

This item is not applicable.


Item 4 - Submission Of Matters To A Vote Of Security Holders
------------------------------------------------------------

This item is not applicable.


Item 5 - Other Information
--------------------------

This item is not applicable.


Item 6 - Exhibits And Reports On Form 8-K
-----------------------------------------

This item is not applicable.


                                    SIGNATURE

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.



Dated:     Temecula, CA
           December 7, 2000                   Supreme Hospitality



                                            By:  /s/  Larry W. Lang
                                                --------------------------------
                                                      Larry W. Lang
                                                      Chief Executive Officer



                                                                   Page 13 of 13