SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

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

                  For the quarterly period ended June 30, 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: 0-29049


                            Silverado Financial, Inc.
--------------------------------------------------------------------------------
                         (formerly Rhombic Corporation)
             (Exact name of Registrant as specified in its charter)

            Nevada                                             86-0824125
--------------------------------------------------------------------------------
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                           Identification Number)

   1475 S. Bascom Avenue, Suite 210
            Campbell, CA                                          95008
--------------------------------------------------------------------------------
(Address of principal executive offices)                        (Zip Code)

                                 (408) 371-2301
                           --------------------------
              (Registrant's telephone number, including area code)

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

As of June 30, 2003,  12,720,884 shares of the registrant's  common stock, $0.01
par value per share, were issued and outstanding.


                                       1
<PAGE>

                            SILVERADO FINANCIAL, INC.
                               INDEX TO FORM 10-Q

                                                                            Page
PART I.   FINANCIAL INFORMATION

Item 1. Financial Statements

     Consolidated Balance Sheet as of June 30, 2003 .......................... 3

     Consolidated Statements of Operation for the six months
     and three months ended June 30, 2003 and 2002 ........................... 4

     Consolidated Statements of Changes in Stockholders' Equity for
     the six months and three months ended June 30, 2003 and 2002 ............ 5

     Consolidated Statements of Cash Flow for the six months and
     three months ended June 30, 2003 and 2002 ........................... 6 - 7

     Notes to Financial Statements ........................................... 8

Item 2. Management's Discussion and Analysis of Financial Condition and
        Results of Operations ............................................... 10

Item 3. Controls and Procedures ............................................. 13

PART II. OTHER INFORMATION

Item 1. Legal Proceedings ................................................... 14

Item 2. Changes in Securities ............................................... 14

Item 3. Defaults Upon Senior Securities ..................................... 15

Item 4. Submissions of Matters to a Vote of Security Holders ................ 15

Item 5. Other Information ................................................... 15

Item 6. Exhibits and Reports on Form 8-K  ................................... 15

Signatures .................................................................. 15

                                       2
<PAGE>

                         PART I -- FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                            SILVERADO FINANCIAL, INC.
                         (formerly Rhombic Corporation)
                          (A Development Stage Company)

                           CONSOLIDATED BALANCE SHEET
                                AT JUNE 30, 2003
                                   (unaudited)

                                     ASSETS
                                     ------
CURRENT ASSETS
   Cash                                                               $   1,529
   Receivables                                                           14,377
   Marketable securities held for sale                                   17,775
                                                      -------------------------
   Total Current Assets                                                  33,681

OTHER ASSETS
   Intellectual property                                              1,398,020
   Furniture, fixtures & equipment-net                                  131,446
   Other                                                                  6,900
                                                      -------------------------

Total assets                                                         $1,570,047
                                                      =========================

                                  LIABILITIES
CURRENT                           -----------
   Accounts Payable                                                   $ 141,115
   Accrued interest                                                      14,583
   Due to affiliates                                                     45,000
                                                      -------------------------
                                                                        200,698

OTHER LIABILITIES
   Convertible notes payable                                             26,000
   Note payable                                                         278,500
                                                      -------------------------
Total liabilities                                                       505,198

STOCKHOLDERS' EQUITY

 Preferred stock, $.001 par value,
   5,000,000 shares authorized, none issued
Common stock, $.001 par value, 20,000,000 shares                         12,721
   authorized, 12,720,884 issued and outstanding
Additional paid-in capital                                           10,097,246
(Deficit) accumulated during the development stage                   (9,045,118)
                                                      -------------------------
Total stockholders' equity                                            1,064,849
                                                      -------------------------

Total liabilities and stockholders' equity                           $1,570,047
                                                      =========================

       See accompanying notes to these consolidated financial statements.


                                       3
<PAGE>

                            SILVERADO FINANCIAL, INC.
                         (formerly Rhombic Corporation)
                          (A Development Stage Company)

                      CONSOLIDATED STATEMENTS OF OPERATION
                                   (unaudited)
<table>
<caption>
                                                                                                               Cumulative from
                                           For the 6 months ended            For the 3 months ended             Nov. 21, 1994
                                        June 30,2003   June 30,2002       June 30,2003    June 30,2002           June 30,2003
                                      -------------------------------   ----------------------------------------------------------
<S>                                              <C>            <C>                <C>             <C>                       <C>
Revenues
  Commission & processing revenue             $17,825              $0            $17,825              $0                   $17,825
  Cost of sales                                (9,181)              0             (9,181)              0                    (9,181)
                                      --------------------------------------------------------------------------------------------
Gross profit                                    8,644               0              8,644               0                     8,644
                                      --------------------------------------------------------------------------------------------

Operating expenses
  Research and development                          0          (9,183)                 0          (9,183)                  688,563
  Impairment on intellectual property               0               0                  0               0                 2,168,038
  Consulting                                  171,418               0             50,118               0                 3,416,542
  General and administrative                  236,648          39,080            169,987          (2,912)                2,698,303
  Depreciation                                  4,729               0              4,570               0                     4,729
                                      ------------------------------------------------------------------   -----------------------
Total operating expenses                      412,795          29,897            224,675         (12,095)                8,976,175
                                      ------------------------------------------------------------------   -----------------------

Other Income and Expense
  Interest income                                   9                                  9                                     6,963
  Interest (expense)                          (12,294)           (120)            (6,226)           (120)                  (19,114)
                                      ------------------------------------------------------------------   -----------------------
Total non-operating income                    (12,285)           (120)            (6,217)           (120)                  (12,151)
                                      ------------------------------------------------------------------   -----------------------

Net (Loss) from operations                   (416,436)        (30,017)          (222,248)         11,975                (8,979,682)

Other revenues and expenses
  (Loss) gain on sale of investments           (6,201)              0                153               0                   (78,665)
   Licensing revenue from
  intellectual property                             0               0                  0               0                     13,229
                                      ------------------------------------------------------------------   -----------------------
Net (Loss)                                  ($422,637)       ($30,017)         ($222,095)        $11,975               ($9,045,118)
                                      ==================================================================   =======================

Net (Loss) per share:
Basic and Diluted                              ($0.04)         ($0.00)            ($0.02)          $0.00

WEIGHTED AVERAGE SHARES OUTSTANDING:

  Basic & Diluted                          11,178,875      28,704,241         11,356,524      28,711,360
                                      ===============================   ================================
</table>

       See accompanying notes to these consolidated financial statements.


                                       4
<PAGE>


                            SILVERADO FINANCIAL, INC.
                         (formerly Rhombic Corporation)
                          (A Development Stage Company)

           CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
                                  June 30, 2003
                                   (Unaudited)
<table>
<caption>
                                                                                                              Net
                                                                                            (Deficit)     Unrealized
                                                                                           Accumulated  Holding loss
                                                        Common Stock          Additional     During     on available
                                                ---------------------------     Paid-In    Development     for sale
                                                    Shares          Amount      Capital       Stage      securities         Total
                                                ------------- ------------- ------------- ------------- ------------- -------------
<S>                                                    <C>            <C>          <C>           <C>            <C>          <C>
Balance at December 31, 2001                       28,697,042       $28,697    $8,452,629   ($8,219,508)      ($7,476)     $254,342
Shares issued for services                          1,302,958         1,303        53,895                                    55,198

Net loss for quarter ended June 30, 2002                                                        (30,016)                    (30,016)
                                                ------------- ------------- ------------- ------------- ------------- -------------
                                                   30,000,000       $30,000    $8,506,524   ($8,249,524)      ($7,476)     $279,524
                                                ============= ============= ============= ============= ============= =============



Balance at December 31, 2002                       10,400,000       $10,400    $9,616,027   ($8,622,481)       $7,399    $1,011,345
Shares issued for services                            364,785           365        86,135                                    86,500
Net unrealized holding (loss) on
 securities available held for sale                                                                            (7,399)       (7,399)

Shares issued for payables                            335,004          $335      $124,640                                   124,975
Shares issued for services                            725,216           725       111,294                                   112,019
Shares issued for Realty Capital                      729,452           730       126,924                                   127,654
Shares issued for debt                                228,372           228        48,848                                    49,076
Shares issued for rounding                                 55                                                                     0
Cancellation of shares from sale of intellectual                                                                                  0
property                                              (62,000)          (62)      (16,622)                                  (16,684)
Net unrealized holding (loss) on                                                                                                  0
 securities available held for sale                                                                                               0
Net loss for quarter ended June 30, 2003                                                       (422,637)                   (422,637)
                                                ------------- ------------- ------------- ------------- ------------- -------------
                                                 $ 12,720,884  $     12,721   $10,097,246   $(9,045,118)  $         0  $  1,064,849
                                                ============= ============= ============= ============= ============= =============
</table>
       See accompanying notes to these consolidated financial statements.


                                       5
<PAGE>


                            SILVERADO FINANCIAL, INC.
                         (formerly Rhombic Corporation)
                          (A Development Stage Company)

                      CONSOLIDATED STATEMENTS OF CASH FLOW
                                  June 30, 2003
                                   (Unaudited)
<table>
<caption>

                                                             For the six months ended  For the three months ended   Cumulative from
                                                                     June 30,                    June 30,          November 21, 1994
                                                          ---------------------------  --------------------------   (Inception ) to
                                                                 2003          2002          2003          2002       June 30, 2003
                                                          ------------- ------------- ------------- -------------------------------
<S>                                                               <C>           <C>           <C>           <C>               <C>
OPERATING ACTIVITIES

Net (loss) income for the period                              ($422,637)     $(30,017)    ($222,095)     $ 11,975       ($9,045,118)
 Adjustments to reconcile net
   cash used by operations:
      Depreciation expense                                        4,729                       4,570                           4,729
      Write down on intellectual property and patents                 0                                                   2,086,837
      Loss (gain) on sale of marketable securities                6,201                        (153)                         78,665
      Rockford shares issued for services                             0                                                      32,275
     Common stock issued for services                           198,519        55,198       112,019        55,198         2,174,201
     Common stock issued for payables and debt                  174,051                     174,051                         174,051
     Common stock issued for Financial Software Inc.                  0                                                   1,089,903
     Common stock issued for Realty Capital Corporation         127,654                     127,654                         127,654
     Fair value of options granted                                    0                                                   2,082,113
     (Increase)/decrease in accounts receivable                  (1,750)                     17,427                         (14,377)
     (Increase)/decrease in prepaid expenses                          0           300                                             0
     (Increase)/decrease in furniture, fixtures & equipment    (134,271)                   (134,271)                       (134,271)
     (Increase)/decrease in other assets                              0                                                      (8,803)
     Increase/(decrease) in accounts payable                     33,206         3,784       (93,403)       (5,517)          142,214
     Increase/(decrease) in accrued interest                     11,491                       5,425                          14,583
     Increase/(decrease) in due to affiliates                   (10,000)      (21,263)        3,000       (51,374)           45,000
     Increase/(decrease) in convertible notes payable                 0                           0                          26,000
     Increase/(decrease) in note payable                          3,500                       3,500                         278,500
                                                          ------------- ------------- ------------- -------------------------------
Net Cash (Used) by Operating Activities                          (9,307)        8,002        (2,276)       10,282          (845,844)

FINANCING ACTIVITIES

  Proceeds from private placements                                                                                        1,347,830
  Proceeds from exercise of stock options                                                                                 1,006,750
  Proceeds from conversion of debenture                                                                                     200,000
                                                          ------------- ------------- ------------- -------------------------------
     Cash provided from financing activities                          0             0             0             0         2,554,580
                                                          ------------- ------------- ------------- -------------------------------

                                       6
<PAGE>

CONSOLIDATED STATEMENTS OF CASH FLOW - Continued

INVESTING ACTIVITIES

   Cost of patents                                                                                                         (168,430)
  Proceeds from sale of marketable securities                    10,275                       2,854                         103,774
   Acquisition of software system                                                                                        (1,398,020)
   Investment in Rockford Technologies                                                                                     (207,756)
   Investment in marketable securities                                                                                      (36,775)
                                                          ------------- ------------- ------------- -------------------------------
      Cash (used) in investment activities                       10,275             0         2,854             0        (1,707,207)
                                                          ------------- ------------- ------------- -------------------------------

Increase (decrease) in cash                                         968         8,002           578        10,282             1,529
Cash at beginning of period                                         561         9,100           951         6,820
                                                          ------------- ------------- ------------- -------------------------------
Cash at end of period                                           $ 1,529      $ 17,102        $1,529      $ 17,102          $  1,529
                                                          ============= ============= =============================================

SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES


Cancellation of 62,000 common shares in sale of
  intellectual property and Rockford shares                    $(16,684)           $0            $0            $0          $(16,684)
                                                          ============= ============= =============================================

Issuance of common stock for licensing agreements
    and intellectual property                                        $0            $0            $0            $0         $2,005,350
                                                          ============= ============= =============================================

</table>

       See accompanying notes to these consolidated financial statements.

                                       7
<PAGE>



                            SILVERADO FINANCIAL, INC.
                         (formerly Rhombic Corporation)
                          (A Development Stage Company)

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                        THREE MONTHS ENDED JUNE 30, 2003

The  unaudited  financial  statements  included  herein were  prepared  from the
records  of  the  Company  in  accordance  with  Generally  Accepted  Accounting
Principles. These financial statements reflect all adjustments which are, in the
opinion of  management,  necessary to provide a fair statement of the results of
operations  and  financial  position  for the interim  periods.  Such  financial
statements  generally  conform to the  presentation  reflected in the  Company's
Forms  10-QSB and 10-KSB filed under its  previous  name of Rhombic  Corporation
with the  Securities  and Exchange  Commission  for the year ended  December 31,
2002. The current  interim period  reported herein should be read in conjunction
with the Company's Form 10-KSB  subject to  independent  audit at the end of the
year.

A majority of the shareholders of record on February 10, 2003 voted to amend the
Articles of Incorporation of the Registrant to change the name of the Company to
Silverado  Financial,  Inc.  and to  change  the  authorized  common  shares  to
100,000,000 and the authorized  preferred shares to 5,000,000 as described in an
information  statement  filed  on Form  14C with  the  Securities  and  Exchange
Commission  on February 11, 2003.  The  Registrant  filed with the  Secretary of
State of Nevada a Certificate of Amended  Articles of Incorporation on March 21,
2003.

At the  beginning of business on April 29, 2003 the Company  changed its trading
name and  trading  symbol to "SLVO" on the  OTCBB and  decreased  the  number of
issued and outstanding  shares of common stock by issuing one new share for each
five shares  held.  This  action was done in  conjunction  with the  shareholder
approval of February 10, 2003 to amend the Articles of Incorporation.

On May 9, 2003,  in a non-arms  length  transaction  with John E.  Hartman,  the
company's  president,  the company issued  729,452  shares of restricted  common
stock at a purchase price of $0.175 per share, which was based on the prior five
days average  trading price,  in exchange for all of the  outstanding  shares of
Realty Capital Corporation. The purchase price of Realty Capital Corporation was
$127,654  and was  the  net  asset  value  of  Realty  Capital  Corporation,  as
determined  by an  independent,  third party  valuation.  The shares were issued
under Section 4(2) of the 1933 Securities Act.

As shown in the accompanying financial statements, the Company had a net loss of
$222,095  for  the  three  months  ended  June  30,  2003.  It has  incurred  an
accumulated  deficit  of  $9,045,118  and has a deficit  in  working  capital of
approximately  $167,017  as of June 30,  2003.  The  ability  of the  Company to
continue as a going  concern is dependent on  obtaining  additional  capital and
financing  and  operating at a  profitable  level.  The Company  intends to seek
additional  capital  either through debt or equity  offerings,  or a combination
thereof,  and to  seek  acquisitions  which  will  generate  sales  volume  with
operating margins sufficient to achieve profitability.  The financial statements
do not include any adjustments  that might be necessary if the Company is unable
to  continue  as a  going  concern.  The  independent  auditor's  report  on the
financial statements for the year ended December 31, 2002 expressed  substantial
doubt  about the ability of the  Company to  continue  as a  going-concern.  The
results of  operations  for the period  ended June 30, 2003 are not  necessarily
indicative of the results that may be expected for the year ending  December 31,
2003.

                                       8
<PAGE>

MARKETABLE SECURITIES AVAILALE FOR SALE

The Company has the following investments at June 30, 2003:

                                                        June 30, 2003
                                                   -------------------------
                                                                  Estimated
                                                    Cost          Fair Value
                                                    ----          ----------
     AVAILABLE FOR SALE SECURITIES

     Showintel Networks, Inc.                      $17,775          $17,775
                                                   -------          -------

     Totals                                        $17,775          $17,775
                                                   =======          =======

Statements of Financial  Accounting  Standards No. 115,  Accounting  for Certain
Investments  in Debt and  Equity  Securities,  ("SFAS  115")  requires  that all
applicable  investments be classified as trading securities,  available for sale
securities  or held to  maturity  securities.  The  Company  did  not  have  any
investments classified as trading securities or held-to-maturity securities. The
statement  further  requires that  available for sale  securities be reported at
fair value, with unrealized gains and losses excluded from earnings but reported
in a separate  component  of  shareholders'  equity (net of the effect of income
taxes)  until they are sold.  At the time of sale,  any gains or losses  will be
recognized as a component of operating results.

During the second  quarter of 2003,  the Company sold 30,000 shares of Showintel
Networks,  Inc. and all Rockford  Technologies,  Inc.  shares and recorded a net
gain of $153.

At June 30, 2003,  the estimated  fair value of the 197,500  shares of Showintel
Networks,  Inc.  held by the Company was estimated  based on the quoted  trading
price of the security at June 30,  2003.  The value of the  Showintel  Networks,
Inc. common stock is recorded at its fair market value as of June 30, 2003.

STOCKHOLDERS' EQUITY

During the prior  quarter  ended March 31, 2003 the company  issued  364,785 for
services.

On May 9, 2003,  in a non-arms  length  transaction  with John E.  Hartman,  the
company's  president,  the company issued  729,452  shares of restricted  common
stock at a purchase price of $0.175 per share, which was based on the prior five
days average  trading price,  in exchange for all of the  outstanding  shares of
Realty Capital Corporation. The purchase price of Realty Capital Corporation was
$127,654  and was  the  net  asset  value  of  Realty  Capital  Corporation,  as
determined  by an  independent,  third party  valuation.  The shares were issued
under Section 4(2) of the 1933 Securities Act.

During the quarter ended June 30, 2003, in a non-arms  length  transaction  with
Robert George Krushnisky, a director of the company, the company received 62,000
shares of its own common stock together with cancellation of an outstanding debt
in the  amount of  $1,100 in  exchange  for all of the  scientific  intellectual
property  assets acquired prior to the acquisition of FSI in November of 2002 as
well as all shares of Rockford Technology held for sale by the company.

During the quarter ended June 30, 2003, in a non-arms  length  transaction  with
Ilya "Sean"  Radetich,  a director of the company,  the company  issued  228,372


                                       9
<PAGE>

shares of restricted  common stock in  cancellation  of outstanding  debt in the
amount of  $49,076  at $0.215  per share  which was based on the prior five days
average  trading  price at the time of  issuance.  The shares were issued  under
Section 4(2) of the 1933 Securities Act.

During the quarter ended June 30, 2003, the Company  issued  111,577  restricted
common  shares to the  officers  of the  Company  for  accrued  compensation  of
$30,000. The shares were issued under Section 4(2) of the 1933 Securities Act.

During the quarter  ended June 30, 2003,  the Company  issued  4,444  restricted
common  shares to two  directors  of the Company at a deemed  value of $3,000 as
compensation  for the  attendance of six board meetings held during the quarter.
The shares were issued under Section 4(2) of the 1933 Securities Act.

During the quarter ended June 30, 2003, the Company  issued  300,000  restricted
common  shares  to an  individual  for  investor  relations  services  valued at
$60,000. The shares were issued under Section 4(2) of the 1933 Securities Act.

During the quarter ended June 30, 2003, the Company issued 223,427  unrestricted
shares under its S-8 2003 Employees and Compensation Plan to various individuals
at a deemed value of $94,975 for various consulting services rendered during the
prior quarter ended March 31, 2003 relating to matters of corporate  governance,
software consulting, legal and other services.

During the quarter ended June 30, 2003, the Company issued 420,772  unrestricted
shares to two consultants  under its S-8 2003 Employees and Compensation Plan at
a deemed value of $49,019 for various  consulting  services  rendered during the
current  quarter ended June,  2003 relating to matters of corporate  governance,
software consulting, legal and other services.

During  the  quarter  ended  June 30,  2003,  the  company  issued 55 shares for
purposes of fractional share adjustments.


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

THIS REPORT CONTAINS  FORWARD-LOOKING  STATEMENTS  WITHIN THE MEANING OF SECTION
21E OF THE  SECURITIES  EXCHANGE  ACT OF 1934,  INCLUDING,  WITHOUT  LIMITATION,
STATEMENTS REGARDING THE COMPANY'S EXPECTATIONS,  BELIEFS,  INTENTIONS OR FUTURE
STRATEGIES THAT ARE SIGNIFIED BY THE WORDS "EXPECTS", "ANTICIPATES",  "INTENDS",
"BELIEVES",  OR SIMILAR LANGUAGE.  SUCH FORWARD-LOOKING  STATEMENTS INCLUDE, BUT
ARE  NOT  LIMITED  TO,  THE  SEEKING  OF  REVENUE  PRODUCING  ACQUISITIONS,  THE
DEVELOPMENT PLANS FOR THE TECHNOLOGIES OF THE COMPANY,  TRENDS IN THE RESULTS OF
THE COMPANY'S DEVELOPMENT, ANTICIPATED DEVELOPMENT PLANS, OPERATING EXPENSES AND
THE COMPANY'S  ANTICIPATED  CAPITAL  REQUIREMENTS AND CAPITAL  RESOURCES.  THESE
FORWARD-LOOKING  STATEMENTS INVOLVE RISKS,  UNCERTAINTIES AND OTHER FACTORS. ALL
FORWARD-LOOKING  STATEMENTS  INCLUDED IN THIS DOCUMENT ARE BASED ON  INFORMATION
AVAILABLE  TO THE  COMPANY  ON THE DATE  HEREOF  AND  SPEAK  ONLY AS OF THE DATE
HEREOF.  THE FACTORS  DISCUSSED  BELOW UNDER  "FORWARD-LOOKING  STATEMENTS"  AND
ELSEWHERE IN THIS  QUARTERLY  REPORT ON FORM 10-QSB ARE AMONG THOSE FACTORS THAT
IN SOME CASES HAVE  AFFECTED  THE  COMPANY'S  RESULTS AND COULD CAUSE THE ACTUAL
RESULTS  TO  DIFFER  MATERIALLY  FROM  THOSE  PROJECTED  IN THE  FORWARD-LOOKING
STATEMENTS.  IN ADDITION,  THE  FOLLOWING  DISCUSSION  IS INTENDED TO PROVIDE AN
ANALYSIS OF THE COMPANY'S  FINANCIAL  CONDITION AND PLAN OF OPERATION AND SHOULD
BE READ IN  CONJUNCTION  WITH THE COMPANY'S  FINANCIAL  STATEMENTS AND THE NOTES
THERETO.


                                       10
<PAGE>

GENERAL:

Since its inception during 1994 as Rhombic Corporation,  the Company has been in
the  development  stage and its  efforts  have  been  primarily  focused  on the
acquisition of the rights to innovative  technologies  that could  ultimately be
developed into numerous  applications.  During the years of 1999 through 2001 it
began to focus on the  research  and  development  of its  portfolio of acquired
technologies  and to  develop  specific  applications  in  order  to  make  them
commercially  marketable.  The business strategy of the Company was to develop a
specific  application  from  a  technology,  then  commence  or  contract  for a
marketing effort for the developed application that would generate sales.

In 2002 the  Company  concluded  that it could not raise  capital  to pursue its
planned  efforts  for its  scientific  technology  and began  seeking  potential
acquisition candidates.  During the fourth quarter of 2002 the Company appointed
John Hartman as Chief  Executive  Officer and  director  and Sean  Radetich as a
director.

On November 11, 2002,  the board of  directors  of the  Registrant  approved the
issuance of 22,000,000 restricted shares of its common stock for the acquisition
of all of the issued and outstanding shares of Financial Software, Inc. ("FSI").
The transaction was closed on November 19, 2002. The value of the  consideration
in the exchange was determined at arms length by FSI and the registrant. FSI was
in the financial services technology and publishing industry.

A majority of the shareholders of record on February 10, 2003 voted to amend the
Articles of Incorporation of the Registrant to change the name of the Company to
Silverado  Financial,  Inc.  and to  change  the  authorized  common  shares  to
100,000,000 and the authorized  preferred shares to 5,000,000 as described in an
information  statement  filed  on Form  14C with  the  Securities  and  Exchange
Commission  on February 11, 2003.  The  Registrant  filed with the  Secretary of
State of Nevada a Certificate of Amended  Articles of Incorporation on March 21,
2003.

It is the  intention  of  Silverado  Financial,  Inc.  "Silverado"  to  become a
multifaceted  technology and real estate  services  company.  To achieve its new
business plan, Rhombic will acquire or modify its current software technology to
target the real estate  lending  markets  and to serve as a parent to  companies
that would provide financial publishing, mortgage brokerage and mortgage banking
real estate services to customers through a developed software application.

Silverado is currently considering the acquisition of firms or the establishment
of business  lines in the mortgage  brokerage,  investment  advisory,  insurance
brokerage and commercial and residential mortgage banking sectors.

On May 9, 2003,  in a non-arms  length  transaction  with John E.  Hartman,  the
company's  president,  the company issued  729,452  shares of restricted  common
stock at a purchase price of $0.175 per share, which was based on the prior five
days average  trading price,  in exchange for all of the  outstanding  shares of
Realty Capital Corporation. The purchase price of Realty Capital Corporation was
$127,654  and was  the  net  asset  value  of  Realty  Capital  Corporation,  as
determined  by an  independent,  third party  valuation.  The shares were issued
under Section 4(2) of the 1933 Securities Act.

The  competition in the technology  proliferation  and transfer market is highly
intense  and is based on product  and  technology  recognition  and  acceptance,
novelty and marketability of an invention,  price, and sales expertise.  The new
management of the Company is reviewing its intellectual property and patents and
considering seeing potential buyers.

                                       11
<PAGE>

The  Company  does not have any  employees  and  uses  consultants  for  matters
pertaining  to  coordinating  technology  development  and  administration.  The
Company may hire  employees  during the next twelve  months  depending  upon its
success  in  developing  prototype  applications  for  sale and  financing  more
development.

RESULTS OF OPERATIONS:

Comparison of Quarter Ended June 30, 2003 and 2002

The Company  generated  revenues of $17,825  from  operations  during the second
quarter  of 2003.  This  marks the first  time the  company  has  generated  any
revenues since  inception.  Management's  objective during the second quarter of
2003 was to acquire an operating  company,  to begin  generating  revenue and to
continue  to reform its  capital  structure  to attract  investment  capital and
attract potential acquisitions.

During the second quarter of 2003 the Company  incurred  $169,987 in general and
administrative  expenses which was comprised of accrued  compensation expense of
$40,000 to its officers and $129,987 of office  expenses and out of pocket costs
involved with the restating the Company's capital structure.

The Company incurred $50,118 in consulting fees.

During the second  quarter of 2003,  the Company sold 30,000 shares of Showintel
Networks, Inc. and all of its shares of Rockford Technologies,  Inc and recorded
a net gain of $153.


LIQUIDITY AND CAPITAL RESOURCES:

At June  30,  2002 the  Company  had  $17,102  in cash and  $31,612  in  current
payables. At June 30, 2003 the Company had approximately $1,529 in cash, $14,377
in receivables, $and $17,775 in marketable securities and approximately $200,698
in current payables.

During  the  second  quarter  of 2003,  the  Company  sold  shares of  Showintel
Networks, Inc. and Rockford Technologies,  Inc. and received $2,854in cash which
was used added to its general funds.

The  Company   decreased  its  accounts   payable  by  $93,403  due  to  accrued
compensation  expense of $40,000 to its  officers and  approximately  $53,403 in
consulting fees.

The Company incurred $6,226 of interest expense on its debt of $304,500 of which
$5,425 was  incurred  for the  software of FSI and $801 was related to loans for
cash in a private placement from accredited investors.

On October  11,  2002,  the  Company  began a private  placement  to  accredited
investors  for  $250,000.  The terms of the offering  are a 10% annual  interest
bearing note that can be converted by the holder into  restricted  common shares
at $.40 with a warrant to buy an equal amount of shares at $.45. The term of the
note is one-year from the subscription  date and the registrant has the right to
extend the note for an  additional  year.  The term of the  warrant is for three
years from the  subscription  date. As August 1, 2003 the company has subscribed
$26,000 under this private placement. The company has paid $1,600 in commissions
in connection with the  subscriptions  and has received $24,400 in net proceeds.
However,  there  is no  assurance  that it will  be  able  to  generate  capital
sufficient to meet these long-term  needs. If it can't meet these  requirements,
it may not be able to continue as a going concern.

                                       12
<PAGE>


The Company  believes  that it has  sufficient  capital and resources to support
operations  for  the  next  twelve  months.  It  anticipates  that  the  capital
requirements for the balance of the period ending December 31, 2003 will require
that  additional  cash be raised from  external  sources.  It believes that this
requirement will be met by cash equity investments.


SUBSEQUENT EVENTS:

None.


FORWARD LOOKING STATEMENTS:

Certain  statements  made in this  report on Form 10-QSB are  "forward  looking"
statements within the meaning of the Private Securities Litigation Reform Act of
1995. Such statements  involve known and unknown risks,  uncertainties and other
factors  that may cause  actual  results,  performance  or  achievements  of the
Company  to be  materially  different  from any future  results  implied by such
forward looking statements.  Although the Company believes that the expectations
reflected  in  such  forward  looking   statements  are  based  upon  reasonable
assumptions, the Company's actual results could differ materially from those set
forth in the forward looking statements. Certain factors that might cause such a
difference  might  include:  the  failure of the  registrants  efforts to secure
additional  equity capital,  the inability to  successfully  execute the revised
business  plan,  the success or failure to implement  the  management to operate
possible acquisitions profitably, and the registrant's planned marketing, public
relations and promotional campaigns.

RISK FACTORS:

The Company  continues to be subject to a number of risk factors,  including the
uncertainty  of  developing  a  commercial   application  for  its  intellectual
property,  the ability of management to successfully  acquire and manage revenue
generating  operating  companies  profitably,  the  need for  additional  funds,
competition,   technological   obsolescence  and  the   difficulties   faced  by
development stage companies in general.

ITEM 3: CONTROLS AND PROCEDURES

a)   Disclosure  controls  and  procedures.  Within 90 days  before  filing this
     report,  an evaluation  was performed  under the  supervision  and with the
     participation  of the Company's  management,  including the CEO and CFO, of
     the  effectiveness  of the design and operation of its disclosure  controls
     and  procedures.  Based  on  that  evaluation,  the  Company's  management,
     including the CEO and CFO, concluded that the Company's disclosure controls
     and procedures were effective as of the date of the evaluation.

(b)  Internal controls.  Since the date of the evaluation described above, there
     have not been any significant  changes in the Company's internal accounting
     controls  or  in  other  factors  that  could  significantly  affect  those
     controls.


                                       13
<PAGE>

                          PART II -- OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no legal  proceedings  against the Company.  The Company is unaware of
any proceedings contemplated against it.

ITEM 2. CHANGES IN SECURITIES

During the prior  quarter  ended March 31, 2003 the company  issued  364,785 for
services.

On May 9, 2003,  in a non-arms  length  transaction  with John E.  Hartman,  the
company's  president,  the company issued  729,452  shares of restricted  common
stock at a purchase price of $0.175 per share, which was based on the prior five
days average  trading price,  in exchange for all of the  outstanding  shares of
Realty Capital Corporation. The purchase price of Realty Capital Corporation was
$127,654  and was  the  net  asset  value  of  Realty  Capital  Corporation,  as
determined  by an  independent,  third party  valuation.  The shares were issued
under Section 4(2) of the 1933 Securities Act.

During the quarter ended June 30, 2003, in a non-arms  length  transaction  with
Robert George Krushnisky, a director of the company, the company received 62,000
shares of its own common stock together with cancellation of an outstanding debt
in the  amount of  $1,100 in  exchange  for all of the  scientific  intellectual
property  assets acquired prior to the acquisition of FSI in November of 2002 as
well as all shares of Rockford Technology held for sale by the company.

During the quarter ended June 30, 2003, in a non-arms  length  transaction  with
Ilya "Sean"  Radetich,  a director of the company,  the company  issued  228,372
shares of restricted  common stock in  cancellation  of outstanding  debt in the
amount of  $49,076  at $0.215  per share  which was based on the prior five days
average  trading  price at the time of  issuance.  The shares were issued  under
Section 4(2) of the 1933 Securities Act.

During the quarter ended June 30, 2003, the Company  issued  111,577  restricted
common  shares to the  officers  of the  Company  for  accrued  compensation  of
$30,000. The shares were issued under Section 4(2) of the 1933 Securities Act.

During the quarter  ended June 30, 2003,  the Company  issued  4,444  restricted
common  shares to two  directors  of the Company at a deemed  value of $3,000 as
compensation  for the  attendance of six board meetings held during the quarter.
The shares were issued under Section 4(2) of the 1933 Securities Act.

During the quarter ended June 30, 2003, the Company  issued  300,000  restricted
common  shares  to an  individual  for  investor  relations  services  valued at
$60,000. The shares were issued under Section 4(2) of the 1933 Securities Act.

During the quarter ended June 30, 2003, the Company issued 223,427  unrestricted
shares under its S-8 2003 Employees and Compensation Plan to various individuals
at a deemed value of $94,975 for various consulting services rendered during the
prior quarter ended March 31, 2003 relating to matters of corporate  governance,
software consulting, legal and other services.

During the quarter ended June 30, 2003, the Company issued 420,772  unrestricted
shares to two consultants  under its S-8 2003 Employees and Compensation Plan at
a deemed value of $49,019 for various  consulting  services  rendered during the
current  quarter ended June,  2003 relating to matters of corporate  governance,
software consulting, legal and other services.

                                       14
<PAGE>

During  the  quarter  ended  June 30,  2003,  the  company  issued 55 shares for
purposes of fractional share adjustments.


ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.

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

Not applicable.

ITEM 5. OTHER INFORMATION

Not applicable.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K


(a) Exhibits

     31.1 Quarterly Certification of Chief Executive Officer pursuant to Section
          302, of the Sarbanes-Oxley Act of 2002.

     31.2 Quarterly Certification of Chief Financial Officer pursuant to Section
          302, of the Sarbanes-Oxley Act of 2002.

     32.1 Certification  pursuant  to the 18  U.S.C  section  1353,  as  adopted
          pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

     32.2 Certification  pursuant  to the 18  U.S.C  section  1353,  as  adopted
          pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

(b) Reports on Form 8-K

     None

                                   SIGNATURES

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

                                       SILVERADO FINANCIAL, INC.

                                           /s/ John E. Hartman
                                           -------------------------------------
Date: August 19, 2003                      By: John E. Hartman
                                           President and Chief Executive Officer


                                           /s/ Albert A. Golusin
                                           -------------------------------------
Date:  August 19, 2003                     By: Albert A. Golusin
                                           Chief Financial Officer


                                       15
<PAGE>

                                  Exhibit 31.1

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

I, John Hartman, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Silverado  Financial,
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 quarterly
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 quarterly report;

4.  The  registrant's  other  certifying  officer  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 subsidiaries,  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 officer 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  officer  and I have  indicated  in this
quarterly  report  whether or not 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.

IN WITNESS  WHEREOF,  the undersigned has executed this  certification as of the
19th day of August, 2003.

/s/ John Hartman
-----------------------------
Chief Executive Officer


                                       16
<PAGE>

                                  Exhibit 31.2

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

I, Albert Golusin, certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Silverado  Financial,
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 quarterly
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 quarterly report;

4.  The  registrant's  other  certifying  officer  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 subsidiaries,  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 officer 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  officer  and I have  indicated  in this
quarterly  report  whether or not 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.

IN WITNESS  WHEREOF,  the undersigned has executed this  certification as of the
19th day of August, 2003.

/s/ Albert Golusin
-----------------------------
Chief Financial Officer


                                       17
<PAGE>

                                  Exhibit 32.1

                    CERTIFICATION OF CHIEF EXECUTIVE OFFICER
                       PURSUANT TO 18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Rhombic Corporation (the "Company")
on Form 10-QSB for the period ending June 30, 2003 as filed with the Securities
and Exchange Commission on the date hereof (the "Report"), I, John Hartman,
Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss.1350,
as adopted pursuant to ss.906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of
the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material
respects, the financial condition and result of operations of the Company.

IN WITNESS WHEREOF, the undersigned has executed this certification as of the
19th day of August, 2003.


/s/ John Hartman
-----------------------------
Chief Executive Officer


                                       18
<PAGE>

                                  Exhibit 32.2

                    CERTIFICATION OF CHIEF FINANCIAL OFFICER
                       PURSUANT TO 18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In  connection  with the  Quarterly  Report of Silverado  Financial,  Inc.  (the
"Company")  on Form 10-QSB for the period ending June 30, 2003 as filed with the
Securities and Exchange Commission on the date hereof (the "Report"),  I, Albert
Golusin, Chief Financial Officer of the Company,  certify, pursuant to 18 U.S.C.
ss.1350, as adopted pursuant to ss.906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of
the Securities Exchange Act of 1934; and

(2) The  information  contained in the Report fairly  presents,  in all material
respects, the financial condition and result of operations of the Company.

IN WITNESS  WHEREOF,  the undersigned has executed this  certification as of the
19th day of August 2003.

/s/ Albert Golusin
-----------------------------
Chief Financial Office

                                       19
<PAGE>