SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                   FORM 10Q-SB


                  Quarterly Report under Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


For Quarter Ended                                      Commission File Number
-----------------                                      ----------------------
September 30, 2000                                                  000-26907


                        BIO AMERICAN CAPITAL CORPORATION
                       ----------------------------------
             (Exact name of registrant as specified in its charter)


Nevada                                                             93-1118938
(State of incorporation)                               IRS Employer ID Number


462 Stevens Avenue, Suite #308, Solana Beach, CA                         92075
(Address of principal executive offices)                            (Zip Code)


                                  858.793.5900
                         (Registrant's Telephone number)


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 the  filing
requirements for at least the past 90 days.

                                    Yes X       No
                                       ---

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.

                3,930,250 common shares as of September 30, 2000

<PAGE>


                                TABLE OF CONTENTS



                         PART I - FINANCIAL INFORMATION

                                                                            Page

Item 1     Financial Statements............................................... 3

Item 2     Management Discussion and Analysis of Financial Condition and
           Results of Operations.............................................. 9



                           PART II - OTHER INFORMATION

Item 1     Legal Proceedings..................................................11

Item 2     Changes in Securities............................................. 11

Item 3     Default Upon Senior Securities.................................... 11

Item 4     Submission of Matters to a Vote of Security Holders............... 11

Item 5     Other Information................................................. 11

Item 6     Exhibits and Reports on Form 8-K.................................. 11



                                    PART III

           Signature                                                          12



<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

         For financial information,  please see the financial statements and the
notes thereto, attached hereto and incorporated by this reference.

         The financial  statements  have been prepared by  Bio-American  Capital
Corporation  without  audit  pursuant  to  the  rules  and  regulations  of  the
Securities  and  Exchange   Commission.   Certain   information   and  footnotes
disclosures  normally  included in financial  statements  prepared in accordance
with generally accepted accounting  principles have been condensed or omitted as
allowed  by such  rules  and  regulations,  and  management  believes  that  the
disclosures are adequate to make the information presented not misleading. These
financial  statements  include  all the  adjustments  which,  in the  opinion of
management,  are  necessary to a fair  presentation  of  financial  position and
results  of  operations.  All such  adjustments  are of a normal  and  recurring
nature.  These  financial  statements  should  be read in  conjunction  with the
audited  financial  statements  at December 31, 1999,  included in the Company's
Form 10-SB.




<PAGE>

<TABLE>
<CAPTION>


                                   BIO-AMERICAN CAPITAL CORP.
                                 (A Development Stage Company)
                                         Balance Sheet
                                          (Unaudited)


<S>                                                             <C>                <C>

                                                                September 30,      December 31,
                                                                    2000               1999
                                                                -------------      ------------
                                                                (Unaudited)
ASSETS:

Current Assets:
     Cash                                                                $ -                  $ 589
     Interest Receivable                                                   -                      -
     Notes Receivable                                                      -                      -
                                                                -------------      -----------------

TOTAL ASSETS                                                             $ -                  $ 589
                                                                =============      =================


LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT):

Current Liabilities:
  Accounts Payable                                                   $81,150               $ 47,074
  Accrued Liabilities                                                      -                  1,087
  Notes Payable                                                            -                 16,500
                                                                -------------      -----------------
Total Current Liabilities                                             81,150                 64,661
                                                                -------------      -----------------

Stockholders' Equity (Deficit):
     Common Stock, par value $0.001; 100,000,000
       shares authorized; 3,930,250 shares issued and
       outstanding in 2000, and 1,830,250 shares issued
       and outstanding in 1999.                                        3,930                  1,830
   Additional Paid-in Capital                                        543,083                503,183
   Accumulated Deficit during the Development Stage                 (628,163)              (569,085)
                                                                -------------      -----------------
Total Stockholders' Equity (Deficit)                                 (81,150)               (64,072)
                                                                -------------      -----------------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)                       $ -                  $ 589
                                                                =============      =================


</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-4

<PAGE>

<TABLE>
<CAPTION>


                                   BIO-AMERICAN CAPITAL CORP.
                                 (A Development Stage Company)
                                    Statements of Operations
         For the Three and Nine Months Ended September 30, 2000 and September 30, 1999
           With Comparative Totals from May 5, 1992 (Inception) to September 30, 2000
                                          (Unaudited)


<S>                                           <C>           <C>           <C>            <C>           <C>

                                                                                                       (Unaudited)
                                                                                                         For the
                                                                                                         Period
                                                    (Unaudited)                  (Unaudited)           May 5, 1992
                                                 Three Months Ended           Nine Months Ended        (Inception) to
                                                   September 30,                September 30,          September 30,
                                              -------------------------    -------------------------
                                                 2000          1999          2000              1999       2000
                                              -----------   -----------    ----------    -----------   ------------

REVENUE:                                             $ -           $ -           $ -            $ -            $ -


EXPENSES:
   Provision for Bad Debt                              -             -             -              -        453,432
   Amortization                                        -             -             -              -            500
   Professional Expenses                               -           255         6,494          7,463         41,307
   Management Fees                                15,000        15,000        45,000         45,000        115,000
   Travel & Other                                     30            30            90             98          2,215
   Office Expenses                                 2,250         2,250         6,750          6,750         17,250
                                              -----------   -----------    ----------    -----------   ------------
TOTAL EXPENSES                                    17,280        17,535        58,334         59,311        629,704

OTHER INCOME                                           -        13,502             -         40,506          3,372

OTHER EXPENSE                                          -           495           744            595          1,831
                                              -----------   -----------    ----------    -----------   ------------

NET LOSS                                       $ (17,280)     $ (4,528)    $ (59,078)     $ (19,400)    $ (628,163)
                                              ===========   ===========    ==========    ===========   ============

NET LOSS PER SHARE                                   $ -           $ -       $ (0.02)       $ (0.01)
                                              ===========   ===========    ==========    ===========

WEIGHTED AVERAGE SHARES OUTSTANDING            3,930,250     1,830,250     2,848,507      1,830,250
                                              ===========   ===========    ==========    ===========


</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                      F-5

<PAGE>

<TABLE>
<CAPTION>

                           BIO-AMERICAN CAPITAL CORP.
                         (A Development Stage Company)
                            Statements of Cash Flows
 For the Three and Nine Months Ended September 30, 2000 and September 30, 1999
   With Comparative Totals from May 5, 1992 (Inception) to September 30, 2000
                                  (Unaudited)


<S>                                             <C>          <C>        <C>           <C>             <C>

                                                                                                       (Unaudited)
                                                                                                        For the
                                                                                                         Period
                                                     (Unaudited)              (Unaudited)              May 5, 1992
                                                  Three Months Ended       Nine Months Ended           (Inception) to
                                                    September 30,            September 30,             September 30,
                                                 ---------------------   -----------------------
                                                   2000        1999        2000          1999             2000
                                                 ---------    --------   ----------    ---------       -----------

CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss                                         $(17,280)    $(4,528)   $ (59,078)    $ (19,400)      $ (628,163)
Adjustments to reconcile net loss to net cash
  used in operating activities;
  Amortization                                          -           -            -            -               500
  Changes in assets and liabilities:
     Increase (Decrease) in Accounts Payable       17,233      10,000       34,076          623            81,150
     Increase (Decrease)  in Accrued Liabilities        -         495       (1,087)         595                 -
     Increase in Interest Receivable                    -     (13,502)           -      (40,506)                -
    Decrease in Notes Payable                           -           -      (16,500)           -                -
                                                                                                               -
                                                 ---------    --------   ----------    ---------
Net Cash Used in Operating Activities                 (47)     (7,535)     (42,589)     (58,688)         (546,513)

CASH FLOWS FROM INVESTING ACTIVITIES:
     Incorporation Costs                                -           -            -            -              (500)
                                                 ---------    --------   ----------    ---------       -----------
Net Cash Used in Investing Activities                   -           -            -            -              (500)

CASH FLOWS FROM FINANCING ACTIVITIES:
    Proceeds from Sale of Common Stock                  -           -       42,000       13,200           547,013
     Proceeds from Notes Payable                        -           -            -       16,500                 -
                                                 ---------    --------   ----------    ---------       -----------
Net Cash Provided by Financing Activities               -           -       42,000       29,700           547,013

(Decrease) Increase in Cash                           (47)     (7,535)        (589)     (28,988)                -

Cash - Beginning of Period                             47       8,367          589       29,820                 -
                                                 ---------    --------   ----------    ---------       -----------

Cash - End of Period                                  $ -       $ 832          $ -        $ 832               $ -
                                                 =========    ========   ==========    =========       ===========

Supplemental Disclosures of Cash Flow Information
      Cash paid during the year for:
       Interest                                       $ -       $ 495        $ 744        $ 595           $ 1,831
                                                 =========    ========   ==========    =========       ===========
       Income taxes                                   $ -         $ -          $ -          $ -               $ -
                                                 =========    ========   ==========    =========       ===========


</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                      F-6

<PAGE>
<TABLE>
<CAPTION>


                                                   BIO-AMERICAN CAPITAL CORP.
                                                 (A Development Stage Company)
                                    Statements of Changes in Stockholders' Equity (Deficit)
                                  For the Period May 5 1992 (Inception) to September 30, 2000
                                                          (Unaudited)

<S>                                                 <C>            <C>       <C>            <C>        <C>              <C>
                                                                                                               Defict
                                                                                                              Accumulated
                                                                               Additional       Stock        During the
                                                        Common Stocks           Paid-In       Subscription    Development
                                                     Shares        Amount       Capital        Receivable      Stage        Total
                                                     --------------------      ----------     ------------   ------------   -----

Balance - May 5, 1992 (Inception)                            -         $ -          $ -          $ -           $ -            $ -
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - December 31, 1992                                  -           -            -            -             -              -
                                                    -----------     -------   ----------     --------     ---------       --------
Issuance to Founders for Cash                           39,000          39        7,761            -             -          7,800
Net Loss                                                     -           -            -            -        (1,285)        (1,285)
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - December 31, 1993                             39,000          39        7,761            -        (1,285)         6,515

Net Loss                                                     -           -            -            -        (2,732)        (2,732)
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - December 31, 1994                             39,000          39        7,761            -        (4,017)         3,783

Net Loss                                                     -           -            -            -        (3,583)        (3,583)
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - December 31, 1995                             39,000          39        7,761            -        (7,600)           200

Net Loss                                                     -           -            -            -          (185)          (185)
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - December 31, 1996                             39,000          39        7,761            -        (7,785)            15

Net Loss                                                     -           -            -            -          (185)          (185)
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - December 31, 1997                             39,000          39        7,761            -        (7,970)          (170)

Issuance of Stock for cash  - January 5, 1998          251,250         251        4,749            -             -          5,000
Issuance of Stock for cash - December 11, 1998       1,500,000       1,500      477,513            -             -        479,013
Issuance of stock for subscription agreement -
  December 31, 1998                                     40,000          40       13,160      (13,200)            -              -
Net Loss                                                     -           -            -            -       (22,968)       (22,968)
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - December 31, 1998                          1,830,250       1,830      503,183      (13,200)      (30,938)       460,875

Cash payment for subscription agreement
   - January and February  1999                              -           -            -       13,200             -         13,200
Net Loss                                                     -           -            -            -      (538,147)      (538,147)
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - December 31, 1999                          1,830,250       1,830      503,183            -      (569,085)       (64,072)

Issuance of Stock for debt forgiveness - 5/16/2000   2,100,000       2,100       39,900            -             -         42,000
Net Loss - September 30, 2000                                -           -            -            -       (59,078)       (59,078)
                                                    -----------     -------   ----------     --------     ---------       --------
Balance - September 30, 2000                         3,930,250      $3,930    $ 543,083          $ -    $ (628,163)     $ (81,150)
                                                    ===========     =======   ==========     ========     =========       ========

</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                      F-7


<PAGE>


                        BIO-AMERICAN CAPITAL CORPORATION
                          (A Development Stage Company)
                          Notes to Financial Statements
                               September 30, 2000
                                   (Unaudited)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
--------------------------------------------------------------------

ORGANIZATION:
------------

Bio-American  Capital Corporation (a Development Stage Company) was incorporated
in May 1992 in the state of Nevada to raise capital for a business  venture.  In
November 1998 the Company raised $508,200 to become a technology venture finance
company  that  would  organize,   capitalize,  acquire  and  finance  technology
companies.  The Company  provided  $450,060 in  financing  to a private  holding
company.  The notes  payable  matured in December 1999 and no payments have been
received.  Once the Company has  sufficient  working  capital it will pursue its
legal  remedies.  In May 2000,  with limited  operating  capital the Company has
become a "public  shell" and is  actively  pursuing  merging  with an  operating
company that has a strong  business plan and wants to establish a public trading
market for its securities.

The accompanying unaudited financial statements have been prepared in accordance
with the  instructions  to Form 10-QSB and do not include all of the information
and notes  required by generally  accepted  accounting  principles  for complete
financial  statements.  In the opinion of management,  all material adjustments,
consisting of only normal recurring adjustments  considered necessary for a fair
presentation, have been included. These statements should be read in conjunction
with the financial statements and notes included in the Company's Form 10-SB.

The results of  operations  for the three and nine months  ended  September  30,
2000,  are not  necessarily  indicative  of the results for the  reminder of the
fiscal year ending December 31, 2000.

NET LOSS PER SHARE:
------------------

Basic  and  diluted  net loss per  share  information  is  presented  under  the
requirements  of SFAS No. 128,  Earnings per Share.  Basic net loss per share is
computed by dividing net loss by the weighted average number of shares of common
stock outstanding for the period; less shares subject to repurchase. Diluted net
loss per share  reflects the  potential  dilution of  securities by adding other
common stock equivalents, including stock options, shares subject to repurchase,
warrants and  convertible  preferred  stock, in the  weighted-average  number of
common shares  outstanding for a period, if dilutive.  All potentially  dilutive
securities  have  been  excluded  from  the  computation,  as  their  effect  is
anti-dilutive.

NOTE 2 - DEBT FORGIVENESS:
-------------------------

As of May 16,  2000,  the Company owed the  President of the Company  $16,500 in
notes payable;  $1,582 in accrued interest;  $50,000 in accrued management fees;
and  $7,500 in office  expenses  to a related  party.  To reduce  the  Company's
delinquent  indebtedness and retain the services of the Company's President,  in


<PAGE>


May 2000 the Board of Directors  approved  the  issuance of 2,100,000  shares of
common  stock to the  President in exchange  for the  forgiveness  of $42,000 of
indebtedness.  Prior to May 15,  2000 the stock last traded for $0.02 per shares
on April 4, 2000.

NOTE 3 -GOING CONCERN:
---------------------

The  accompanying  financial  statements  have been prepared in conformity  with
generally accepted accounting principles, which contemplates continuation of the
Company as a going concern.  The Company operations are in the development stage
and the Company has experienced  significant losses from limited operations.  As
shown in the financial  statements,  since inception the Company  incurred a net
loss of $628,163.

The future  success of the Company is likely  dependent on its ability to attain
additional capital to develop its proposed  objectives and ultimately,  upon its
ability to attain future profitable  operations.  There can be no assurance that
the Company will be  successful  in obtaining  such  financing,  or that it will
attain positive cash flow from operations which raises  substantial  doubt about
the Company's ability to continue as a going concern.


<PAGE>


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

Results of Operations
---------------------

         The Company had no revenue or operations  for the period.  There can be
no  assurance  that  the  Company  will be able to  complete  a  merger  with an
operating  company.  Due to the lack of a specified  business  opportunity,  the
Company is unable to predict the period for which it can conduct operations.

Comparison  of Operating  Results for the Three Months Ended  September 30, 2000
--------------------------------------------------------------------------------
and September 30, 1999
----------------------

         The Company had no revenues for the three months  ended  September  30,
2000 and September 30, 1999.  In 2000 the Company  incurred  $17,280 in expenses
compared to $17,535 in 1999. In 2000,  $15,000 was incurred as a management  fee
to the  President  of the  Company,  and $2,250 was  incurred for the office and
related  expenses.  In 1999,  $15,000 was  incurred as a  management  fee to the
President  of the  Company,  and $2,250 was  incurred for the office and related
expenses.  Expenses  in 1999 were  reduced by the  $13,502  of accrued  interest
income on the Notes Receivable from Universal  Alliance,  Inc.  Expenses in 1999
were  increased by the accrued  interest  expense of $495 on the notes  payables
that were forgiven in May 2000.

         The net  operating  loss in the third  quarter  in 2000 was  $17,280 as
compared to $4,528 in 1999. The net loss per share for the quarter each year was
less than $0.01 in 2000 and 1999.

Comparison of Operating Results for the Nine Months Ended September 30, 2000 and
--------------------------------------------------------------------------------
September 30, 1999
------------------

         The Company had no revenues for the nine months period ended  September
30,  2000 and  September  30,  1999.  In 2000 the  Company  incurred  $58,334 in
expenses  compared  to $59,311  in 1999.  In 2000,  $45,000  was  incurred  as a
management  fee to the  President  of the  Company,  $6,750 was incurred for the
office and related expenses,  and $5,320 was incurred for financial coverage. In
1999,  $45,000 was incurred as a management fee to the President of the Company,
$6,750 was incurred for the office and related expenses, and $6,985 was incurred
for financial coverage.  Expenses in 1999 were reduced by the $40,506 of accrued
interest  income on the Notes  Receivable  from  Universal  Alliance,  Inc.  The
accrued  interest  expense of $744 in 2000 and $595 in 1999 on the notes payable
increased expenses.


<PAGE>


         The net operating loss for the nine months ended September 30, 2000 was
$59,078 as compared to $19,400 for the nine months ended September 30, 1999. The
net loss per share for the nine months ended  September 30, 2000 was $0.02 cents
compared to the net loss per share for the nine months ended  September 30, 1999
of $0.01.

         For the current fiscal year, the Company  anticipates  incurring a loss
as a result of the  management  fee to the President of the Company,  office and
related  expenses,  expenses  associated with regulatory  filings,  and expenses
associated  with locating and  evaluating  acquisition  candidates.  The Company
anticipates  that until a business  combination is completed with an acquisition
candidate,  it will not generate revenues, and may continue to operate at a loss
after completing a business  combination,  depending upon the performance of the
acquired business.

Liquidity and Capital Resources
-------------------------------

         At  September  30,  2000,  the Company had no cash or other assets with
which to conduct  operations.  The lack of  liquidity  or liquid  assets  raises
substantial  doubt about the  Company's  ability to continue as a going  concern
unless it is able to generate  sufficient cash flows to meet its obligations and
sustain  operations.  To meet required current operating expenses the Company is
totally  dependent  upon its  principal  shareholder  to advance funds until the
Company has acquired  another entity that has  sufficient  resources to fund the
Company's  operations.  The  Company's  primary  ongoing  monthly cost include a
$5,000  management  fee,  $750 for an  office  and  related  expenses,  and cost
associated  with regulatory  filings.  The payments for these expenses have been
deferred until sufficient cash is available.  To reduce the Company's delinquent
indebtedness and retain the services of the Company's President, in May 2000 the
Board of Directors  approved the issuance of 2,100,000 shares of common stock to
the President in exchange for the forgiveness of $42,000 of indebtedness.

Once the Company has identified an  appropriate  business  combination,  lack of
existing capital may be a sufficient impediment to prevent its consummation. And
if a business  combination  is  completed,  the Company's  needs for  additional
financing is likely to increase substantially.

Year 2000 Issues
----------------

         Year 2000 problems result primarily from the inability of some computer
software to properly store,  recall,  or use data after December 31, 1999. These
problems may affect many  computers  and other  devices  that  contain  embedded
computer chips. The Company's  operations,  however,  do not rely on information
technology  (IT) systems.  Accordingly,  the Company does not believe it will be
material affected by Year 2000 problems.

         The  Company  relies on non-IT  systems  that may suffer from Year 2000
problems,  including  telephone systems and facsimile and other office machines.
Moreover,  the Company  relies on  third-parties  that may suffer from Year 2000
problems  that  could  affect  the  Company's  operations,  including  banks and
utilities.  In light of the  Company's  substantially  reduced  operations,  the
Company  does not believe  that such  non-IT  systems or  third-party  Year 2000
problems  will  affect  the  Company  in a  manner  that  is  different  or more
substantial  than such problems  affect other  similarly  situated  companies or
industry  generally.  Consequently,  the Company  does not  currently  intend to
conduct a readiness  assessment  of Year 2000  problems or to develop a detailed
contingency plan with respect to Year 2000 problems that may affect the Company.


<PAGE>


PART II - OTHER INFORMATION

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

         The Company is not a party to any  pending  legal  proceedings,  and no
such proceedings are known to be contemplated.

Item 2.  Change in Securities.
-----------------------------

         (a) There have been no material modifications in any of the instruments
defining  the  rights  of  the  holders  of  any  of  the  Company's  registered
securities.

         (b)  None  of the  rights  evidenced  by  any  class  of the  Company's
registered  securities have been materially limited or qualified by the issuance
or modification of any other class of the Company's securities.

         To reduce the Company's delinquent indebtedness and retain the services
of the  Company's  President,  in May 2000 the Board of  Directors  approved the
issuance of 2,100,000  shares of common  stock to the  President in exchange for
the forgiveness of $42,000 of indebtedness. Prior to May 15, 2000 the stock last
traded for $0.02 per shares on April 4, 2000.

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

         (Not applicable)

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

         (Not applicable)


<PAGE>


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

         (Not applicable)

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

        (a)      Exhibits

         No exhibits as set forth in Regulation SB, are considered necessary for
this filing.

        (b)      Reports on Form 8-K

         No  reports on Form 8-K were filed  during the  quarter  for which this
report is filed.


<PAGE>


                                   SIGNATURES

         In accordance with the  requirements of the Securities and Exchange Act
of 1934,  as  amended,  the  registrant  caused  this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                                           Bio-American Capital Corporation

                                        By: /s/Leonard Viejo
Date:  October 16, 2000                    ----------------------------
                                           Leonard Viejo, President