UNITED STATES
                    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 quarter ended March 31, 2004

     [ ]  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: 000-31165

                          CYGNI INVESTMENTS, INC.
             (Exact name of Registrant as specified in charter)

NEVADA                                  88-0442584
State or other jurisdiction of          I.R.S. Employer I.D. No.
incorporation or organization

3857 BIRCH STREET, #606, NEWPORT BEACH, CA        92660
(Address of principal executive offices)          (Zip Code)

Issuer's telephone number, including area code:  (949) 644-0095

Check whether the Issuer (1) has 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 fling requirements for the past 90 days.
(1) Yes [X] No [ ]   (2) 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:  At May 7, 2004, there
were 1,000,000 shares of the Registrant's Common Stock outstanding.

<PAGE>

                                  PART I

                       ITEM 1.  FINANCIAL STATEMENTS

     The condensed financial statements included herein have been prepared
by the Company, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission.  Certain information and footnote
disclosures normally included in financial statements prepared in
accordance with generally accepted accounting principles have been
condensed or omitted pursuant to such rules and regulations, although the
Company believes that the disclosures are adequate to make the information
presented not misleading.

     In the opinion of the Company, all adjustments, consisting of only
normal recurring adjustments, necessary to present fairly the financial
position of the Company as of March 31, 2004, and the results of its
operations and changes in its financial position from November 17, 1999,
through March 31, 2004, have been made.  The results of its operations for
such interim period is not necessarily indicative of the results to be
expected for the entire year.  These condensed financial statements should
be read in conjunction with the financial statements and notes thereto
included in the Company's annual report on Form 10-KSB for the year ended
December 31, 2003.


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<PAGE>

                          Cygni Investments, Inc.
                       (A Development Stage Company)
                               Balance Sheet

                                                     March         December
                                                    31, 2004       31, 2003
                                                   -----------    -----------
                                                   (Unaudited)

                                  Assets
Current Assets

  Total Current Assets                             $      -       $      -
                                                    ==========     ==========

                   Liabilities and Stockholders' Equity

Current Liabilities

  Accounts Payable                                 $    16,437    $    12,702
  Interest Payable                                       7,360          6,819
  Note Payable - Related Party                          22,115         21,640
                                                    ----------     ----------
     Total Current Liabilities                          45,912         41,161

Stockholders' Equity

  Common Stock 100,000,000 Shares
   Authorized at $.001 Par Value;
   1,000,000 Shares Issued and Outstanding               1,000          1,000
  Additional Paid in Capital                             9,000          9,000
  Accumulated Deficit During Development Stage         (55,912)       (51,161)
                                                    ----------     ----------
     Total Stockholders' Equity (Deficit)              (45,912)       (41,161)
                                                    ----------     ----------
     Total Liabilities and Stockholders' Equity    $      -       $      -
                                                    ==========     ==========

              See accompanying notes to financial statements.
                                     3
<PAGE>

                          Cygni Investments, Inc.
                       (A Development Stage Company)
                         Statements of Operations
                                (Unaudited)
<TABLE>
<CAPTION>
                                                                    For the Period
                                                                       November
                                                                       17, 1999
                                      For the Three Months Ended      (Inception)
                                         March           March          to March
                                       31, 2004        31, 2003        31, 2004
                                      -----------     -----------     -----------
<S>                                   <C>             <C>             <C>
Revenue                               $      -        $      -        $      -
                                       ----------      ----------      ----------
Expenses

  General & Administrative                  4,210            -             48,424
                                       ----------      ----------      ----------
     Total Expenses                         4,210            -             48,424
                                       ----------      ----------      ----------
     Income (Loss)
     from Operations                       (4,210)           -            (48,424)

Other Income (Expenses)

  Interest Expense                           (541)           (541)         (7,488)
                                       ----------      ----------      ----------
     Total Other Income (Expenses)           (541)           (541)         (7,488)
                                       ----------      ----------      ----------
     Income (Loss) Before Taxes            (4,751)           (541)        (55,912)

     Taxes                                   -               -               -
                                       ----------      ----------      ----------
     Net Income (Loss)                $    (4,751)    $      (541)    $   (55,912)
                                       ==========      ==========      ==========

     Loss Per
     Common Share                     $     (0.00)    $     (0.00)

     Weighted Average
     Outstanding Shares                 1,000,000       1,000,000
</TABLE>
              See accompanying notes to financial statements.
                                     4
<PAGE>

                          Cygni Investments, Inc.
                       (A Development Stage Company)
                         Statements of Cash Flows
                                (Unaudited)
<TABLE>
<CAPTION>
                                                                    For the Period
                                                                      November
                                                                      17, 1999
                                        For the Three Months Ended   (Inception)
                                          March          March        to March
                                         31, 2004       31, 2003       31, 2004
                                        ----------     ----------     ----------
<S>                                     <C>            <C>            <C>
Cash Flows from Operating Activities

  Net Income (Loss)                     $   (4,751)    $     (541)    $  (55,912)
  Adjustments to Reconcile Net Income
   (Loss) to Net Cash Provided by
   Operating Activities:
    Stock Issued for Services                 -              -             2,285
    Increase in Accounts Payable             4,210           -            38,552
    Increase in Interest Payable               541            541          7,360
                                         ---------      ---------      ---------
      Net Cash Provided (Used) by
      Operating Activities                    -              -            (7,715)

Cash Flows from Investing Activities          -              -              -
                                         ---------      ---------      ---------
Cash Flows from Financing Activities

  Issuance of Common Stock for Cash           -              -             7,715
                                         ---------      ---------      ---------
      Net Cash Provided (Used) by
      Financing Activities                    -              -              -
                                         ---------      ---------      ---------
      Increase (Decrease) in Cash             -              -              -

      Cash, Beginning of Period               -              -              -
                                         ---------      ---------      ---------
      Cash, End of Period               $     -        $     -        $     -
                                         =========      =========      =========

Supplemental Cash Flow Information

  Interest                              $     -        $     -        $     -
  Income Taxes                                -              -              -
</TABLE>
              See accompanying notes to financial statements.
                                     5
<PAGE>

                          Cygni Investments, Inc.
                       (A Development Stage Company)
                     Notes to the Financial Statements
                              March 31, 2004

NOTE 1 - CORPORATE HISTORY

Cygni Investments, Inc. (the "Company") was incorporated in Nevada on
November 17, 1999, as Cygni Investments, Inc. for the purpose of seeking
and consummating a merger or acquisition with a business entity organized
as a private corporation, partnership, or sole proprietorship.

The Company has yet to fully develop any material income from its stated
primary objective and it is classified as a development stage company.  All
income, expenses, cash flows and stock transactions are reported since the
beginning of development stage.

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES

Cash and Cash Equivalents - The Company considers all highly liquid
investments with maturities of three months or less to be cash equivalents.

Earnings (Loss) Per Share - The computation of earnings per share of common
stock is based on the weighted average number of shares outstanding at the
date of the financial statements.

Use of Estimates - The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make
estimates and assumptions that affect reported amounts of assets and
liabilities, disclosure of contingent assets and liabilities at the date of
the financial statements and revenues and expenses during the reporting
period.  In these financial statements, assets, liabilities and earnings
involve extensive reliance on management's estimates.  Actual results could
differ from those estimates.

NOTE 3 - INCOME TAXES

The Company adopted Statement of Financial Accounting Standards No. 109
"Accounting for Income Taxes" in the fiscal year ended December 31, 2000
and has applied the provisions of the statement to the current year which
resulted in no significant adjustment.

Statement of Financial Accounting Standards No. 109 "Accounting for Income
Taxes" requires an asset and liability approach for financial accounting
and reporting for income tax purposes.  This statement recognizes (a) the
amount of taxes payable or refundable for the current year and (b) deferred
tax liabilities and assets for future tax consequences of events that have
been recognized in the financial statements or tax returns.

                                     6
<PAGE>

                          Cygni Investments, Inc.
                       (A Development Stage Company)
                     Notes to the Financial Statements
                              March 31, 2004

NOTE 3 - INCOME TAXES continued

Deferred income taxes result from temporary differences in the recognition
of accounting transactions for tax and financial reporting purposes.
There were no temporary differences at March 31, 2004 and earlier years;
accordingly, no deferred tax liabilities have been recognized for all
years.

The Company has cumulative net operating loss carryforwards of $55,912 at
March 31, 2004.  No effect has been shown in the financial statements for
the net operating loss carryforwards as the likelihood of future tax
benefit from such net operating loss carryforwards is not presently
determinable.  Accordingly, the potential tax benefits of the net operating
loss carryforwards, estimated based upon current tax rates at March 31,
2004 have been offset by valuation reserves in the same amount.  The net
operating losses begin to expire in 2019.

NOTE 4 - NOTE PAYABLE RELATED PARTY

The Company has issued several promissory notes to various corporations
whose officers are shareholders of the Company.  The notes are unsecured,
bear an interest rate of 10% per annum and are due and payable on demand.
At March 31, 2004, the accrued interest associated with the various notes
was $7,360.

                                                         March 31,  December 31,
The Company has the following note payable obligations:    2004        2003
                                                         ---------   ---------
Related party notes payable due on demand
  accruing interest at a rate of 10% per annum           $  22,115   $  21,640
                                                          --------    --------
     Totals                                              $  22,115   $  21,640
     Less Current Maturities                               (22,115)    (21,640)
                                                          --------    --------
     Total Long-Term Notes Payable                       $    -      $    -
                                                          ========    ========

Following are maturities of long-term debt for each of the next five years:

                                                           Year       Amount
                                                         --------    --------
                                                           2004      $ 22,115
                                                           2005          -
                                                           2006          -
                                                           2007          -
                                                        Thereafter       -
                                                                      -------
                                                           Total     $ 22,115
                                                                      =======

                                     7
<PAGE>

                          Cygni Investments, Inc.
                       (A Development Stage Company)
                     Notes to the Financial Statements
                              March 31, 2004

NOTE 5 - GOING CONCERN

The Company's financial statements are prepared using generally accepted
accounting principles applicable to a going concern which contemplates the
realization of assets and liquidation of liabilities in the normal course
of business.  Currently, the Company has no cash or other material assets,
nor does it have an established source of revenues sufficient to cover any
anticipated operating costs to allow it to continue as a going concern.  It
is the intent of the Company to find additional capital funding and/or a
profitable business venture to acquire or merge.




                                     8
<PAGE>

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

     The Company is a development stage company.  Since its inception, the
Company has had no operations.  The Company was organized for the purpose
of engaging in any lawful activity permitted under Nevada state law;
however, the Company does not have any significant cash or other material
assets, nor does it have an established source of revenues sufficient to
cover operating costs and to allow it to continue as a going concern.  The
Company intends to take advantage of any reasonable business proposal
presented which management believes will provide the Company and its
stockholders with a viable business opportunity.  The board of directors
will make the final approval in determining whether to complete any
acquisition, but will submit the proposal to the shareholders for final
approval.

     The original shareholders contributed a total of $7,715 in cash and
$2,285 in services as capital contributions for stock of the Company.
Since inception the Company has borrowed funds from corporations related to
the Company for operating expenses.

     Management estimates that the cash requirements for the year ending
December 31, 2004, will be approximately $9,000, if no change in operations
occurs during the year.  Management anticipates that any additional needed
funds will be loaned to the Company on the same or similar terms as those
of other loans to the Company.  There are no agreements with any of the
companies and no assurance that all or a portion of these funds will be
loaned to the Company.  If the Company is unable to borrow such funds,
management will seek other sources of funding which are currently unknown
to management.  There is no assurance that such funding would be available,
or that if it is made available, it could be obtained on terms favorable to
the Company.

     The investigation of specific business opportunities and the
negotiation, drafting, and execution of relevant agreements, disclosure
documents, and other instruments will require substantial management time
and attention and will require the Company to incur costs for payment of
accountants, attorneys, and others.  If a decision is made not to
participate in or complete the acquisition of a specific business
opportunity, the costs incurred in a related investigation will not be
recoverable.  Further, even if an agreement is reached for the
participation in a specific business opportunity by way of investment or
otherwise, the failure to consummate the particular transaction may result
in a loss to the Company of all related costs incurred.

     Currently, management is not able to determine the time or resources
that will be necessary to locate and acquire or merge with a business
prospect.  There is no assurance that the Company will be able to acquire
an interest in any such prospects, products, or opportunities that may
exist or that any activity of the Company, regardless of the completion of
any transaction, will be profitable.  If and when the Company locates a
business opportunity, management of the Company will give consideration to
the dollar amount of that entity's profitable operations and the adequacy
of its working capital in determining the terms and conditions under which
the

                                     9
<PAGE>

Company would consummate such an acquisition.  Potential business
opportunities, no matter which form they may take, will most likely result
in substantial dilution for the Company's shareholders due to the likely
issuance of stock to acquire such an opportunity.

Off-Balance Sheet Arrangements

     Management does not believe the company has any off-balance sheet
arrangements that have, or are reasonable likely to have, a current or
future effect on our financial condition, changes in financial condition,
revenues or expenses, results of operations, liquidity, capital
expenditures, or capital resources which would be material to investors.

                     ITEM 3.  CONTROLS AND PROCEDURES

Evaluation of disclosure and controls and procedure

     With the participation of management the Company's chief executive
officer and chief financial officer have evaluated the effectiveness of the
design and operation of the Company's disclosure controls and procedures
(as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange
Act of 1934, as amended) as of the end of the period covered by this
quarterly report.  Based on that evaluation the chief executive officer and
chief financial officer have concluded that the Company's disclosure
controls and procedures are designed to ensure that information required to
be disclosed by the Company in the reports that it files or submits under
the Exchange Act is recorded, processed, summarized and reported within the
time periods specified in the SEC's rules and forms, and are operating in
an effective manner.

Changes in internal controls

     There were no changes in the Company's internal control over financial
reporting that have materially affected, or are reasonably likely to
materially affect, the Company's internal control over financial reporting.

     It should be noted that any system of controls, however well designed
and operated, can provide only reasonable and not absolute assurance that
the objectives of the system will be met. In addition, the design of any
control system is based in part upon certain assumptions about the
likelihood of future events.  Because of these and other inherent
limitations of control systems, there is only reasonable assurance that our
controls will succeed in achieving their stated goals under all potential
future conditions.

                                  PART II

                 ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits.

          31.1 Rule 13a-14(a) Certification by Principal Executive Officer
          31.2 Rule 13a-14(a) Certification by Principal Financial Officer
          32   Section 1350 Certification of Principal Executive Officer
               and Principal Financial Officer

     (b)  Reports on Form 8-K:  A report on Form 8-K dated February 10,
2004, was filed on February 24, 2004, reporting that although the Company
had not changed the firm that performs its audits, because of a merger of
operations the name of the firm changed from Bierwolf, Nilson & Associates
to Chisholm, Bierwolf & Nilson, LLC.

                                    10
<PAGE>

                                SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.

                                   Cygni Investments, Inc.

Date:  May 17, 2004                By: /s/ Carl Suter
                                   Carl Suter, President and Treasurer
                                   (Principal Executive Officer and
                                   Principal Financial and Accounting
                                   Officer)


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