UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                   FORM 10-QSB

--------------------------------------------------------------------------------

(Mark one)
    XX    QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
--------- ACT OF 1934

                For the quarterly period ended September 30, 2000

          TRANSITION REPORT UNDER SECTION 13 OR 15(d)OF THE EXCHANGE ACT OF 1934
---------

         For the transition period from ______________ to _____________

--------------------------------------------------------------------------------

                         Commission File Number: 0-26760
                                                 -------

                              Immulabs Corporation

        (Exact name of small business issuer as specified in its charter)

           Colorado                                          84-1286065
 ----------------------------                      ----------------------------
  (State of incorporation)                            (IRS Employer ID Number)

                  15945 Quality Trail North, Scandia, MN 55073
                  --------------------------------------------
                    (Address of principal executive offices)

                                 (612) 433-3522
                                 --------------
                           (Issuer's telephone number)


   North American Resorts, Inc., 15945 Quality Trail North, Scandia, MN 55073
   --------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last
report)

--------------------------------------------------------------------------------


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:
         November 13,  2000:  39,747,928
         -------------------------------

Transitional Small Business Disclosure Format (check one):   YES      NO  X
                                                                 ----    ----



<PAGE>



                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)

              Form 10-QSB for the Quarter ended September 30, 2000

                                Table of Contents

                                                                           Page

Part I - Financial Information

  Item 1   Financial Statements                                               3

  Item 2   Management's Discussion and Analysis or Plan of Operation         12

Part II - Other Information

  Item 1   Legal Proceedings                                                 13

  Item 2   Changes in Securities                                             13

  Item 3   Defaults Upon Senior Securities                                   15

  Item 4   Submission 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

Exhibit 23.1 - Consent of Independent Certified Public Accountants           16




                                                                              2


<PAGE>


S. W. HATFIELD, CPA
certified public accountants

Member:    American Institute of Certified Public Accountants
               SEC Practice Section
               Information Technology Section

           Texas Society of Certified Public Accountants

Item 1 - Part 1 - Financial Statements

                           Accountant's Review Report

Board of Directors and Shareholders
Immulabs Corporation

    (formerly North American Resorts, Inc.)

We have  reviewed  the  accompanying  balance  sheets  of  Immulabs  Corporation
(formerly North American Resorts, Inc.) (a Colorado corporation) as of September
30,  2000  and  1999  and  the   accompanying   statements  of  operations   and
comprehensive  income for the nine and three months ended September 30, 2000 and
1999 and the  statements  of cash flows for the nine months ended  September 30,
2000 and 1999.  These  financial  statements are prepared in accordance with the
instructions  for Form 10-QSB,  as issued by the U. S.  Securities  and Exchange
Commission, and are the sole responsibility of the Company's management.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A review  of  interim  financial
information consists principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with  generally  accepted  auditing  standards,  the  objective  of which is the
expression on an opinion  regarding the financial  statements  taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the  accompanying  financial  statements for them to be in conformity
with generally accepted accounting principles.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note A to the
financial statements, the Company has no viable operations or significant assets
and is dependent upon  significant  shareholders to provide  sufficient  working
capital to maintain the integrity of the corporate entity.  These  circumstances
create  substantial  doubt  about the  Company's  ability to continue as a going
concern and are discussed in Note A. The financial statements do not contain any
adjustments that might result from the outcome of these uncertainties.

                                                             S. W. HATFIELD, CPA
Dallas, Texas
November 7, 2000


(secure mailing address)                   (overnight delivery/shipping address)
P. O. Box 820395                               9002 Green Oaks Circle, 2nd Floor
Dallas, Texas  75382-0395                               Dallas, Texas 75243-7212
214-342-9635 (voice)                                          (fax) 214-342-9601
800-244-0639                                                      SWHCPA@aol.com

                                                                              3


<PAGE>
<TABLE>
<CAPTION>




                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)
                                 Balance Sheets
                           September 30, 2000 and 1999

                                   (Unaudited)

                                                           September 30,  September 30,
                                                               2000           1999
                                                            -----------    -----------
                                     ASSETS
                                    --------
<S>                                                         <C>            <C>

Current Assets

   Cash on hand and in bank                                 $    32,065    $      --
                                                            -----------    -----------
     Total current assets                                        32,065           --
                                                            -----------    -----------

Other Assets

   Organization costs, net of accumulated amortization
     of $11,330 and $10,197, respectively                          --            1,133
                                                            -----------    -----------
     Total other assets                                            --            1,133
                                                            -----------    -----------

Total Assets                                                $    32,065    $     1,133
                                                            ===========    ===========


                      LIABILITIES AND SHAREHOLDERS' EQUITY
                      ------------------------------------

Current Liabilities

   Accounts payable

     Trade                                                  $      --      $      --
     Affiliates                                                  50,000           --
                                                            -----------    -----------

     Total current liabilities                                   50,000           --
                                                            -----------    -----------


Commitments and Contingencies

Shareholders' Equity Preferred stock - No par value

     50,000,000 shares authorized; -0- and 482,815
     shares issued and outstanding, respectively                   --        1,741,583
   Common stock - $0.001 par value
     300,000,000 shares authorized; 39,747,928 and
     415,260 issued and outstanding, respectively                39,748            415
   Additional paid-in capital                                 7,331,467      3,723,116
   Accumulated deficit                                       (7,389,150)    (5,193,981)
                                                            -----------    -----------

     Total shareholders' equity                                 (17,935)         1,133
                                                            -----------    -----------

Total Liabilities and Shareholders' Equity                  $    32,065    $     1,133
                                                            ===========    ===========
</TABLE>




The  financial  information  presented  herein has been  prepared by  management
without audit by independent  certified  public  accountants.  See  Accountant's
Review Report.  The  accompanying  notes are an integral part of these financial
statements.

                                                                              4


<PAGE>
<TABLE>
<CAPTION>




                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)
                          Statements of Operations and
                       Comprehensive Income Nine and Three
                    months ended September 30, 2000 and 1999

                                   (Unaudited)

                                              Nine months     Nine months     Three months    Three months
                                                 ended           ended           ended           ended
                                             September 30,    September 30,   September 30,   September30,
                                                 2000             1999            2000            1999
                                             ------------    -------------   ------------    ------------
<S>                                          <C>             <C>             <C>             <C>

Revenues                                     $       --      $        --     $       --      $       --
                                             ------------    -------------   ------------    ------------

Expenses

   Professional fees                            1,010,538             --          921,938            --
   General and administrative costs                89,748             --           89,748            --
   Management fees paid
     to an affiliate                              150,000             --          150,000            --
   Restructuring and reorganization costs          75,000             --             --              --
   Amortization of organization costs                 567            1,699           --               566
   Compensation expense for issuances
     of common stock at less than
     "fair value"                                 943,750             --          300,000            --
                                             ------------    -------------   ------------    ------------

   Total expenses                               2,194,603            1,699      1,461,686             566
                                             ------------    -------------   ------------    ------------

Loss from continuing operations
   before income taxes                         (2,194,603)          (1,699)    (1,461,686)           (566)

Provision for income taxes                           --               --             --              --
                                             ------------    -------------   ------------    ------------

Net Loss                                       (2,194,603)          (1,699)    (1,461,686)           (566)

Other comprehensive income                           --               --             --              --
                                             ------------    -------------   ------------    ------------

Comprehensive Loss                           $ (2,194,603)   $      (1,699)  $ (1,461,686)   $       (566)
                                             ============    =============   ============    ============

Loss per weighted-average
   share of common stock
   outstanding, calculated
   on Net Loss                               $      (0.12)   nil             $      (0.04)            nil
                                             ============    =============   ============    ============

Weighted-average number of shares
   of common stock outstanding                 17,872,833          415,260     39,175,793         415,260
                                             ============    =============   ============    ============
</TABLE>


                                                                              5


<PAGE>
<TABLE>
<CAPTION>




                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)
                            Statements of Cash Flows
                  Nine months ended September 30, 2000 and 1999

                                   (Unaudited)

                                                             Nine months     Nine months
                                                                ended           ended
                                                            September 30,    September 30,
                                                                2000             1999
                                                            ------------     ------------
<S>                                                        <C>               <C>
Cash Flows from Operating Activities

   Net loss                                                $(2,194,603)      $    (1,699)
   Adjustments to reconcile net loss to
     net cash used in operating activities
       Depreciation and amortization                               567             1,699
       Compensation expense for issuances of
         common stock at less than "fair value"                943,750              --
       Common stock issued for consulting expenses           1,007,350              --
       Increase in Accounts Payable - Affiliate                 50,000              --
                                                          ------------       ------------

   Net cash used in operating activities                      (192,936)             --
                                                          ------------       ------------


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


Cash Flows from Financing Activities

   Proceeds from sale of common stock                          225,001              --
                                                          ------------       ------------

   Net cash provided by financing activities                   225,001              --
                                                          ------------       ------------

Increase (Decrease) in Cash                                     32,065              --

Cash at beginning of period                                       --                --
                                                          ------------       ------------

Cash at end of period                                     $     32,065       $      --
                                                          ============       ============

Supplemental disclosure of interest
   and income taxes paid

     Interest paid for the period                         $          -      $       --
                                                          ============      =============
     Income taxes for the period                          $          -      $       --
                                                          ============      =============
</TABLE>


The  financial  information  presented  herein has been  prepared by  management
without audit by independent  certified  public  accountants.  See  Accountant's
Review Report.  The  accompanying  notes are an integral part of these financial
statements.

                                                                              6


<PAGE>



                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)

                          Notes to Financial Statements

Note 1 - Organization and Description of Business

North American  Resorts,  Inc.  (Company ) was initially  incorporated as Gemini
Ventures,  Inc. on November 1, 1985 under the laws of the State of Colorado. The
Company changed its corporate name to Solomon Trading  Company,  Limited in July
1989; The Voyageur,  Inc. in November 1994; The Voyageur First, Inc. in December
1994 and North American Resorts, Inc. in March 1995, respectively.

Effective  September  1, 2000,  as filed with the State of  Colorado on June 30,
2000, the Company changed its corporate name to Immulabs Corporation.

From 1995 through 1998, the Company was in the business of selling  vacations in
Florida and the sale of time share memberships to the Ocean Landings and Cypress
Island Preserve  facilities in Florida which were then controlled by the Company
and the operation of Cypress Island  Preserve as a tourist  destination.  During
the  fourth  quarter of 1998,  the  Company  liquidated  its  holdings  in these
ventures and discontinued all operations.

With the disposition of all operations,  the Company became fully dependent upon
the support of its controlling shareholders for the maintenance of its corporate
status and to provide all working capital support for the Company's behalf.  The
controlling shareholders intend to continue the funding of necessary expenses to
sustain the corporate entity.

During interim periods, the Company follows the accounting policies set forth in
its annual audited financial statements contained in a Form 10-KSB as filed with
the U. S. Securities and Exchange Commission.  The information  presented herein
may not  include  all  disclosures  required by  generally  accepted  accounting
principles and the users of financial  information  provided for interim periods
should refer to the annual financial  information and footnotes contained in its
annual audited financial  statements  contained  elsewhere in this document when
reviewing the interim financial results presented herein.

In the opinion of management,  the accompanying  interim  financial  statements,
prepared in accordance with the instructions for Form 10-QSB,  are unaudited and
contain  all  material   adjustments,   consisting  only  of  normal   recurring
adjustments  necessary to present  fairly the  financial  condition,  results of
operations  and cash flows of the Company  for the  respective  interim  periods
presented.  The  current  period  results  of  operations  are  not  necessarily
indicative of results which ultimately will be reported for the full fiscal year
ending December 31, 2000.

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect certain  reported amounts and  disclosures.  Accordingly,  actual results
could differ from those estimates.

Note 2 - Summary of Significant Accounting Policies

1.   Cash and cash equivalents
     -------------------------

     The Company considers all cash on hand and in banks,  including accounts in
     book overdraft  positions,  certificates of deposit and other highly-liquid
     investments with maturities of three months or less, when purchased,  to be
     cash and cash equivalents.

     Cash  overdraft  positions may occur from time to time due to the timing of
     making bank deposits and releasing checks, in accordance with the Company's
     cash management policies.

                                                                              7


<PAGE>



                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)

                    Notes to Financial Statements - Continued

Note 2 - Summary of Significant Accounting Policies - Continued

2.   Income taxes
     ------------

     The Company uses the asset and liability  method of  accounting  for income
     taxes. At September 30, 2000 and 1999, respectively, the deferred tax asset
     and deferred  tax  liability  accounts,  as recorded  when  material to the
     financial  statements,  are entirely  the result of temporary  differences.
     Temporary  differences  represent  differences in the recognition of assets
     and  liabilities  for  tax  and  financial  reporting  purposes,  primarily
     accumulated depreciation and amortization,  allowance for doubtful accounts
     and vacation accruals.

     Due to the  provisions  of Internal  Revenue  Code Section 338, the Company
     will have no net operating loss carryforwards available to offset financial
     statement  or tax return  taxable  income in future  periods as a result of
     changes  in  control  in both 2000 and  1999,  respectively,  involving  50
     percentage  points or more of the issued and outstanding  securities of the
     Company.

3.   Earnings (loss) per share
     -------------------------

     Basic  earnings  (loss) per share is computed  by  dividing  the net income
     (loss) by the weighted-average  number of shares of common stock and common
     stock  equivalents  (primarily  outstanding  options and warrants).  Common
     stock equivalents  represent the dilutive effect of the assumed exercise of
     the  outstanding  stock  options and  warrants,  using the  treasury  stock
     method.  The calculation of fully diluted earnings (loss) per share assumes
     the dilutive effect of the exercise of outstanding  options and warrants at
     either the  beginning  of the  respective  period  presented or the date of
     issuance,  whichever is later. As of September 30, 2000, the Company has no
     outstanding  warrants  and  169,318  options  issued and  outstanding.  The
     Company's  outstanding stock options are considered to be anti-dilutive due
     to the Company's net operating loss position at September 30, 2000.

Note 3 - Preferred Stock

As of December  31,  1999,  the Company had 482,815  shares of  preferred  stock
issued and outstanding. For a two (2) year period from the initial issue date of
the preferred  stock,  these shares were  convertible  into common shares at the
rate of 10 common  shares for each share of  preferred.  Thereafter,  the shares
were  convertible  at a rate of one (1)  share  of  common  for  each  share  of
preferred outstanding.

On  March  21,  2000,  subsequent  to the  second  anniversary  date of the last
issuance of  preferred  stock,  the Company  converted  100.0% of the issued and
outstanding  preferred  stock into 482,815  pre-reverse  split shares (485 post-
reverse split shares, as rounded for fractions, 1,940 post-forward split shares)
of restricted, unregistered common stock.

Note 4 - Common Stock Transactions

In April 1998 and April 2000, respectively,  the Company amended its Articles of
Incorporation  to allow for the issuance of up to 150,000,000  and  300,000,0000
shares of $0.001 par value common stock. Further, on May 30, 2000, the Company's
Board of Directors  effected a one (1) for 1,000 reverse split of the issued and
outstanding  shares of the  Company's  common  stock,  which was approved at the
Company's  Annual Meeting of Shareholders on March 20, 2000. The effect of these
amendments  and the  reverse  stock  split  are  reflected  in the  accompanying
financial statements as of the first day of the first period presented.

                                                                              8


<PAGE>



                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)

                    Notes to Financial Statements - Continued

Note 4 - Common Stock Transactions - Continued

Further,  on November 2, 2000, the Company's Board of Directors  effected a four
(4) for one (1) forward split of the Company's  common stock. The effect of this
forward stock split are reflected in the accompanying financial statements as of
the first day of the first period presented.

On February  1, 2000,  the  Company,  in an effort to seek and obtain a suitable
merger or  acquisition  agreement  with an on-going  privately  owned  business,
issued  2,000,000  pre-reverse  split shares (2,000  post-reverse  split shares;
8,000 post-forward  split shares) of unregistered,  restricted common stock into
the  escrow  account  of the  Company's  corporate  attorney.  The  attorney  is
responsible  for  securing  the  Company's  books and  records,  validating  the
Company's  corporate status,  procuring the services of a qualified  independent
certified   accounting  firm  to  audit  the  Company's  financial   statements,
facilitate  the filing of all  delinquent  reports  with the US  Securities  and
Exchange  Commission and evaluate  potential private companies for either merger
or  acquisition.  The  Company's  common stock had an estimated  average  quoted
market price of  approximately  $0.0136 per share on the date of the issuance of
these shares. Due to the restricted nature of the shares issued into escrow, the
Stock Subscription  Agreement was valued at approximately  $0.0068 per share, or
approximately $13,600 in total, as the "fair value" of this transaction.

On May 30, 2000, the Company entered into a Stock Acquisition  Agreement with an
unrelated individual and/or entity controlled by the individual for the purchase
of 9,500,000 post-reverse split shares (38.000.000 post-forward split shares) of
restricted, unregistered common stock for total proceeds of $75,000. At the date
of  this  transaction,   the  "fair  value"  of  the  common  stock  issued  was
approximately  $118,750,  based on the  discounted  quoted  closing price of the
Company's common stock.  The difference of approximately  $43,750 was charged to
operations  as  compensation  expense for issuances of common stock at less than
"fair value".

Note 5 - Stock Options

On June 30, 2000, the Company filed a Form S-8 Registration  Statement under The
Securities  Act of 1933 with the U. S.  Securities  and Exchange  Commission  to
register  700,000  post-reverse  split shares  (2,800,000  post-  forward  split
shares) of common  stock  pursuant to the  Company's  2000  Nonqualifying  Stock
Option Plan (2000 NQPlan).  As stated in the 2000 NQPlan  document,  "This [2000
NQPlan is] for  persons  employed  or  associated  with the  Company,  including
without limitation any employee,  director,  general partner, officer, attorney,
accountant,  consultant or advisor, is intended to advance the best interests of
the  Company by  providing  additional  incentive  to those  persons  who have a
substantial responsibility for its management, affairs, and growth by increasing
their proprietary  interest in the success of the Company,  thereby  encouraging
them to maintain their  relationships  with the Company." The  determination  of
those eligible to receive options under the 2000 NQPlan, and the amount,  price,
type and timing of each Stock Option and the terms and conditions  shall rest at
the  sole  discretion  of the  Company's  Board  of  Directors,  subject  to the
provisions of the 2000 NQPlan.

On June 30, 2000, the Company filed a Form S-8 Registration  Statement under The
Securities  Act of 1933 with the U. S.  Securities  and Exchange  Commission  to
register  800,000  post-reverse  split shares  (3,200,000  post-  forward  split
shares) of common stock pursuant to the Company's 2000  Qualifying  Stock Option
Plan (2000 QPlan).  As stated in the 2000 QPlan document,  "This [2000 QPlan] is
intended to provide the key employees of the Company an incentive  through stock
ownership in the Company and encourage them to remain in the Company's  employ."
Any options  granted under the 2000 QPlan must be granted  within ten (10) years
of the adoption  date of the QPlan.  The option price may be  determined  by the
administrating  committee  and shall not be less than the greater of the (i) par
value  of the  Company's  Common  Stock or (ii)  the  fair  market  value of the
Company's  Stock on the date that the option is  granted.  All  granted  options
shall be of a term selected by the administrating  committee, but in no event be
for a term of longer than ten (10) years from the grant date.

                                                                              9


<PAGE>
<TABLE>
<CAPTION>



                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)

                    Notes to Financial Statements - Continued

Note 5 - Stock Options - Continued

On June 30, 2000, the Company granted options to purchase  150,000  post-reverse
split shares (600,000 post- forward split shares) of the Company's  common stock
at an exercise  price of $1.00 per share under the 2000 NQPlan to an  individual
providing acquisition and merger consulting services. The individual immediately
exercised  100,000  (400,000  post-forward  split)  of  these  options  and  the
remaining  50,000  (200,000  post-forward  split)  options on July 6, 2000.  The
quoted  market  price of the  Company's  stock  at the  date of each  respective
exercise was approximately  $7.00. The $900,000  difference between the exercise
price and the market price of the  Company's  stock on the exercise  date(s) was
charged to operations as  compensation  expense for issuances of common stock at
less than "fair value".

On August 31, 2000, the Company  granted  options to purchase a total of 300,000
shares  (1,200,000  post-forward  split) of common stock at an exercise price of
$5.50 per share  under  the 2000  NQPlan  (100,000  shares)  and the 2000  QPlan
(200,000  shares) to the Company's then President and Chief  Executive  Officer.
The President exercised 180,682 shares (722,728 post-forward split) on September
11, 2000. The exercise price was not below the quoted market price of the shares
on the exercise date and no charge to operations was recognized for issuances of
common stock at less than "fair value".

The following table summarizes all options, as adjusted for the November 2, 2000
forward split, granted through September 30, 2000:

        Options        Options         Options           Options         Exercise price
        granted       exercised      terminated         outstanding         per share
    --------------  -------------- --------------     --------------     --------------
<S>   <C>            <C>            <C>                <C>              <C>

        800,000        600,000            --              200,000        $0.25 per share
      1,200,000        722,728            --              477,272       $1.375 per share
      ---------      ---------      ---------           ---------

      2,000,000      1,322,728            --              677,272
      =========      =========      =========           =========

The weighted  average  exercise price of all issued and  outstanding  options at
September  30,  2000 was  approximately  $0.93 per share,  as  adjusted  for the
forward split.

Note 6 - Related Party Transactions

In October 1999, in connection with a Stock Acquisition  Agreement,  the Company
agreed to issue 300,000 post- reverse split shares of  restricted,  unregistered
common  stock in April  2000 to the  Company's  former  corporate  attorney  for
services  rendered in  connection  with the Stock  Acquisition  Agreement.  This
obligation  was  satisfied  on  behalf  of the  Company  by the  Company's  then
President  and Chief  Executive  Officer  with the  transfer  of 300,000  shares
(1,200,000  post-forward  split)  of the  Company's  common  stock  owned by the
Company's President and Chief Executive Officer. The Company recognized a charge
to operations of approximately  $993,570 for the fair value of these shares,  as
calculated on the  discounted  (50.0%) value of the quoted  closing price of the
Company's common stock on the date of settlement and the Company's President and
Chief Executive Officer was given credit for this payment against the amount due
from the  President  on the  exercise  of options  to  purchase  180,682  shares
(722,728 post-forward split) of stock.

</TABLE>


                                                                             10


<PAGE>



                              Immulabs Corporation
                     (formerly North American Resorts, Inc.)

                    Notes to Financial Statements - Continued

Note 7 - Commitments

The  Company  has  executed  a  management  agreement  with an entity  owned and
controlled  by the  Company's  former  President  at the amount of  $50,000  (US
Dollars),  plus  reasonable  expenses,  per month,  effective July 1, 2000. This
amount  represents a management  fee payable for the management of the company's
affairs  including:  facilitating  and advising on the  acquisition of projects,
administration (i.e. bookkeeping,  photocopying, faxing, office space, telephone
charges,  supplies,  news dissemination) and other related operational services.
As of September 30, 2000,  approximately $150,000 has been paid or accrued under
this agreement.

Note 8 - Subsequent Events

On October 17, 2000, the Company  granted options to purchase a total of 100,000
shares  (400,000  post-forward  split) of common  stock at an exercise  price of
$5.00 per share  under the 2000  NQPlan to an  individual  providing  marketing,
acquisition  and merger  consulting  services.  On October 27,  2000, a total of
20,000 shares  (80,000 post- forward split) of common stock were  exercised.  On
November 3, 2000, a total of 5,000 shares (20,000 post- forward split) of common
stock were exercised.

On October 26, 2000, the Company  granted options to purchase a total of 100,000
shares  (400,000  post-forward  split) of common  stock at an exercise  price of
$11.25 per share under the 2000 QPlan to an individual providing acquisition and
merger consulting services. This individual  subsequently,  on November 1, 2000,
became  the  Company's  President  and Chief  Executive  Officer.  None of these
options have been exercised.

On October 31, 2000,  the Company  entered  into an  Assignment  Agreement  with
Aggressive American Capital Partners,  Inc., a significant  majority shareholder
in he Company,  whereby he Company obtained,  via the Assignment Agreement,  the
exclusive  right to acquire  Quest  Research  Group Inc.  of Boston,  MA and its
various  technologies.  The Company is  obligated to pay a minimum of $4,500 per
month to Quest in connection with this option.

On November  3, 2000,  the  Company  granted an option to purchase an  aggregate
40,000 shares (post-forward split) to four (4) individuals,  two being Directors
of the  Company,  on being an Director  and Officer of the Company and one being
affiliated with Cyclone Financing Group,  Inc., an affiliate of the Company,  at
an exercise price of $2.50 per share. None of these options have been exercised.

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                                                                             11


<PAGE>



Part I - Item 2

Management's Discussion and Analysis of Financial Condition and Results of
Operations

(1)    Caution Regarding Forward-Looking Information

This  quarterly   report  contains   certain   forward-looking   statements  and
information relating to the Company that are based on the beliefs of the Company
or management as well as assumptions made by and information currently available
to  the  Company  or  management.   When  used  in  this  document,   the  words
"anticipate,"   "believe,"   "estimate,"   "expect"  and  "intend"  and  similar
expressions,  as they relate to the Company or its  management,  are intended to
identify forward-looking statements. Such statements reflect the current view of
the  Company   regarding  future  events  and  are  subject  to  certain  risks,
uncertainties  and  assumptions,  including the risks and  uncertainties  noted.
Should  one or more of  these  risks or  uncertainties  materialize,  or  should
underlying assumptions prove incorrect,  actual results may vary materially from
those  described  herein  as  anticipated,   believed,  estimated,  expected  or
intended. In each instance,  forward-looking information should be considered in
light of the accompanying meaningful cautionary statements herein.

(2)    General comments

North American  Resorts,  Inc.  (Company ) was initially  incorporated as Gemini
Ventures,  Inc. on November 1, 1985 under the laws of the State of Colorado. The
Company changed its corporate name to Solomon Trading  Company,  Limited in July
1989; The Voyageur,  Inc. in November 1994; The Voyageur First, Inc. in December
1994 and North American Resorts, Inc. in March 1995, respectively.

Effective  September  1, 2000,  as filed with the State of  Colorado on June 30,
2000, the Company changed its corporate name to Immulabs Corporation.

From 1995 through 1998, the Company was in the business of selling  vacations in
Florida and the sale of time share memberships to the Ocean Landings and Cypress
Island  Preserve  facilities in Florida which were controlled by the Company and
the operation of Cypress Island  Preserve as a tourist  destination.  During the
fourth  quarter of 1998,  the Company  liquidated its holdings in these ventures
and discontinued all operations.

With the disposition of all operations,  the Company became fully dependent upon
the support of its controlling shareholders for the maintenance of its corporate
status and to provide all working capital support for the Company's behalf.  The
controlling shareholders intend to continue the funding of necessary expenses to
sustain the corporate entity.

(3)    Results of Operations, Liquidity and Capital Resources

As of the  date of  this  filing,  the  Company  has no  operations,  assets  or
liabilities.  Accordingly,  the  Company is  dependent  upon  management  and/or
significant  shareholders to provide  sufficient working capital to preserve the
integrity of the  corporate  entity at this time. It is the intent of management
and significant  shareholders to provide sufficient working capital necessary to
support and  preserve  the  integrity of the  corporate  entity.  The Company is
currently actively seeking a suitable merger or acquisition candidate.

As of September  30, 2000,  the Company has received  approximately  $225,000 in
cash from the exercise of granted stock options  and/or the sale of common stock
under a private placement  agreement.  While this sum is anticipated to meet the
immediate liquidity needs of the Company,  management recognizes that additional
funds through additional private sales of Company stock,  capital  contributions
from existing  significant  shareholders and/or loans from existing  significant
shareholders  will be  required.  However,  there can be no  assurance  that the
Company  will be able to  obtain  additional  funds  to  support  the  Company's
liquidity requirements or, that such funding, if available,  will be obtained on
terms favorable to or affordable by the Company.

Since  September 30, 2000,  the Company has received an  additional  $125,000 in
cash proceeds from the exercise of granted stock options.

                                                                             12


<PAGE>



Further,  the Company  executed a management  agreement  with Cyclone  Financing
Group, Inc. of 2nd Floor, 827 West Pender Street,  Vancouver,  British Columbia,
Canada  V6C  3G8,  an  entity  owned  and  controlled  by the  Company's  former
President,  at the amount of $50,000 (US Dollars), plus reasonable expenses, per
month,  effective July 5, 2000. This amount  represents a management fee payable
for the management of the company's affairs including: facilitating and advising
on the acquisition of projects, administration (i.e. bookkeeping,  photocopying,
faxing, office space, telephone charges, supplies, news dissemination) and other
related operational services.

Part II - Other Information

Item 1 - Legal Proceedings

       None

Item 2 - Changes in Securities

       On May 30, 2000, the Company's Board of Directors  effected a one (1) for
       1,000 reverse split of the issued and outstanding shares of the Company's
       common  stock,  which was  approved at the  Company's  Annual  Meeting of
       Shareholders  on March 20, 2000.  The effect of these  amendments and the
       reverse  stock  split  are  reflected  in  the   accompanying   financial
       statements as of the first day of the first period presented.

       On May 30, 2000, the Company entered into a Stock  Acquisition  Agreement
       with an unrelated  individual  and/or entity controlled by the individual
       for the purchase of 9,500,000  post-reverse  split shares of  restricted,
       unregistered  common stock for total proceeds of $75,000.  At the date of
       this  transaction,  the  "fair  value" of the  common  stock  issued  was
       approximately  $118,750,  based on the discounted quoted closing price of
       the Company's common stock.  The difference of approximately  $43,750 was
       charged to  operations  as  compensation  expense for issuances of common
       stock at less than "fair value".

       On June 30, 2000,  the Company  filed a Form S-8  Registration  Statement
       under The Securities  Act of 1933 with the U. S.  Securities and Exchange
       Commission to register 700,000  post-reverse split shares of common stock
       pursuant to the  Company's  2000  Nonqualifying  Stock  Option Plan (2000
       NQPlan).  As stated in the 2000 NQPlan  document,  "This [2000 NQPlan is]
       for persons  employed or associated with the Company,  including  without
       limitation any employee,  director,  general partner, officer,  attorney,
       accountant,  consultant  or  advisor,  is  intended  to advance  the best
       interests  of the  Company by  providing  additional  incentive  to those
       persons  who  have  a  substantial  responsibility  for  its  management,
       affairs,  and growth by  increasing  their  proprietary  interest  in the
       success  of the  Company,  thereby  encouraging  them to  maintain  their
       relationships  with the Company." The  determination of those eligible to
       receive options under the 2000 NQPlan,  and the amount,  price,  type and
       timing of each Stock  Option and the terms and  conditions  shall rest at
       the sole discretion of the Company's  Board of Directors,  subject to the
       provisions of the 2000 NQPlan.

       On June 30, 2000,  the Company  filed a Form S-8  Registration  Statement
       under The Securities  Act of 1933 with the U. S.  Securities and Exchange
       Commission to register 800,000  post-reverse split shares of common stock
       pursuant to the Company's 2000 Qualifying Stock Option Plan (2000 QPlan).
       As stated in the 2000 QPlan  document,  "This [2000 QPlan] is intended to
       provide the key  employees  of the  Company an  incentive  through  stock
       ownership in the Company and  encourage  them to remain in the  Company's
       employ." Any options  granted under the 2000 QPlan must be granted within
       ten (10) years of the adoption date of the QPlan. The option price may be
       determined by the administrating committee and shall not be less than the
       greater of the (i) par value of the  Company's  Common  Stock or (ii) the
       fair market value of the  Company's  Stock on the date that the option is
       granted.  All  granted  options  shall  be  of a  term  selected  by  the
       administrating  committee,  but in no event be for a term of longer  than
       ten (10) years from the grant date.

                                                                             13


<PAGE>



       On June 30, 2000, the Company granted options to purchase  150,000 shares
       of the  Company's  common  stock at an exercise  price of $1.00 per share
       under the 2000 NQPlan to Bruce Deildal, an individual. At the date of the
       option grant and  exercise,  Mr.  Deildal was providing  acquisition  and
       merger  consulting   services  to  the  Company.  On  November  1,  2000,
       Mr.Deildal  became the Company's  President and Chief Executive  Officer.
       Mr.  Deildal  immediately  exercised  100,000  of these  options  and the
       remaining  50,000 options on July 6, 2000. The quoted market price of the
       Company's stock at the date of each respective exercise was approximately
       $7.00. The $900,000  difference between the exercise price and the market
       price of the  Company's  stock on the  exercise  date(s)  was  charged to
       operations as compensation  expense for issuances of common stock at less
       than "fair value".

       On August 31, 2000,  the Company  granted  options to purchase a total of
       300,000  shares  (1,200,000  post-  forward  split) of common stock at an
       exercise price of $5.50 per share under the 2000 NQPlan (100,000  shares)
       and the 2000 QPlan (200,000 shares) to Benjamin Traub, the Company's then
       President and Chief Operating Officer. Mr. Traub exercised 180,682 shares
       (722,728  post-forward  split) on September 11, 2000.  The exercise price
       was below the quoted  market price of the shares on the exercise date and
       no charge to operations  was  recognized for issuances of common stock at
       less than "fair value".

       On October 17, 2000, the Company  granted  options to purchase a total of
       100,000  shares  (400,000  post-  forward  split) of  common  stock at an
       exercise  price of $5.00 per share under the 2000 NQPlan to Bart Deildal,
       an individual  providing  marketing,  acquisition  and merger  consulting
       services.  On October 27, 2000, options to purchase 20,000 shares (80,000
       post-reverse split shares) of common stock were exercised.

       On October 26, 2000, the Company  granted  options to purchase a total of
       100,000  shares  (400,000  post-  forward  split) of  common  stock at an
       exercise price of $11.25 per share under the 2000 QPlan to Bruce Deildal,
       an individual. At the date of the option grant, Mr. Deildal was providing
       acquisition and merger consulting services to the Company. On November 1,
       2000,  Mr.  Deildal  became the Company's  President and Chief  Executive
       Officer. None of these options have been exercised.

       On  November  3,  2000,  the  Company  granted an option to  purchase  an
       aggregate  40,000 shares (post- forward  split) to four (4)  individuals,
       two being  Directors of the Company,  on being an Director and Officer of
       the Company and one being affiliated with Cyclone Financing Group,  Inc.,
       an  affiliate of the  Company,  at an exercise  price of $2.50 per share.
       None of these options have been exercised.

       CHANGE IN CONTROL - On October 23, 2000,  Benjamin Traub, then a majority
       shareholder  of the  Company,  on his own behalf and as agent for certain
       selling  shareholders,  sold to Aggressive American Capital Partners Inc.
       (Aggressive),  a  Nevada  company  which is 98%  owned by Bruce  Deildal,
       7,985,000 shares  (31,940,000  post-forward split shares) of common stock
       in the  Company  pursuant  to a Stock  Acquisition  Agreement,  for  cash
       consideration   of  $67,894.63,   paid  from  working  capital  funds  of
       Aggressive.   The  7,985,000  shares  (31,940,000   post-forward   split)
       represents approximately 80.36% of the total issued shares of the Company
       (39,747,928  post-forward  split  shares).  Aggressive  does not hold any
       further  shares.  Mr. Deildal  personally  holds 48,700 further shares of
       common  stock in the Company.  Mr.  Traub's  address is  240-11948  207th
       Street,  Maple Ridge,  British  Columbia,  Canada V2X 1X7. Mr.  Deildal's
       address is 144 West 14th St. North Vancouver,  British  Columbia,  Canada
       V7M 1P1. The Address of Aggressive  is 1475 Terminal Way,  Suite E, Reno,
       Nevada, 89502-3225.

       FORWARD STOCK SPLIT - On October 24, 2000,  the Board of Directors of the
       Company  approved a  four-for-one  forward  split of the issued shares of
       common stock of the Company believing the forward split to be in the best
       interests  of the Company.  The forward  stock split had a record date of
       October 31, 2000 and was effective on November 2, 2000. The forward stock
       split was completed on November 2, 2000. The effect of this forward stock
       split is reflected in the  accompanying  financial  statements  as of the
       first day of the first period presented.

                                                                             14


<PAGE>



Item 3 - Defaults on Senior Securities

       None

Item 4 - Submission of Matters to a Vote of Security Holders

       The Company held a special  meeting of  shareholders  on August 28, 2000.
       The following items were presented for a vote of the shareholders:

       Change in Corporate Name             For:  7,450,000          Against:  0

       Amending the Corporate
       By-Laws to provide for up
       to ten (10) Directors:               For:  7,450,000          Against:  0

       Approval of the Company's
       Stock Option Plans                   For:  7,450,000          Against:  0

Item 5 - Other Information

       None

Item 6 - Exhibits and Reports on Form 8-K

       Exhibit 23.1 - Consent of Independent Certified Public Accountants
       Exhibit 27 - Financial Data Schedule

       Reports on Form 8-K

           October 23, 2000 - Report disclosing Change in Control
           October 31, 2000 - Report  disclosing  the execution of an Assignment
           Agreement for the rights to acquire Quest Research Group, Inc.

--------------------------------------------------------------------------------


                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                                                            Immulabs Corporation

November   13   , 2000                                  /s/ Bruce Deildal
         ------                               ----------------------------------
                                                                   Bruce Deildal
                                                          President and Director

November   13   , 2000                                  /s/ Ellen Luthy
         ------                               ----------------------------------
                                                                     Ellen Luthy
                                                        Chief Financial Officer,
                                                Secretary-Treasurer and Director

                                                                             15


<PAGE>



                                  EXHIBIT 23.1

               CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

We consent to incorporation by reference in the Registration  Statements on Form
S-8 (File No.  333-40592)  for The North American  Resorts,  Inc. 2000 Qualified
Stock  Option  Plan and Form S-8 (File  No.  333-40594)  for The North  American
Resorts,  Inc. 2000 Nonqualified Stock Option Plan of our accompanying report in
Form 10-QSB dated  November 7, 2000,  relating to the balance sheets of Immulabs
Corporation (formerly North American Resorts, Inc.) as of September 30, 2000 and
1999 and the related  statements of operations and comprehensive  income for the
nine and three months ended  September  30, 2000 and 1999 and the  statements of
cash flows for the nine months ended September 30, 2000 and 1999, respectively.

                                                             S. W. HATFIELD, CPA
Dallas, Texas
November 7, 2000

                                                                             16