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
-----------------                                        ----------------------
March 31, 2001                                                        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 March 31, 2001

<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.................................................. 10

Item 2    Changes in Securities.............................................. 10

Item 3    Default Upon Senior Securities..................................... 10

Item 4    Submission of Matters to a Vote of Security Holders................ 10

Item 5    Other Information.................................................. 10

Item 6    Exhibits and Reports on Form 8-K................................... 10



                                    PART III

          Signature.......................................................... 11



<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, 2000, included in the Company's
Form 10-SB.




<PAGE>

<TABLE>
<CAPTION>


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


                                                                        March 31,            December 31,
                                                                          2001                   2000
                                                                      --------------       ----------------
                                                                      (Unaudited)
<S>                                                                       <C>                  <C>

ASSETS:

Current Assets:
  Cash                                                                         $ 97                 $ 27
                                                                      --------------        -------------

TOTAL ASSETS                                                                   $ 97                 $ 27
                                                                      ==============        =============


LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT):

Current Liabilities:
 Accounts Payable                                                         $ 120,092            $ 102,842
 Accrued Liabilities                                                            250                  150
                                                                      --------------        -------------
  Total Current Liabilities                                                 120,342              102,992
                                                                      --------------        -------------

   Stockholders' Equity (Deficit):
     Common Stock, par value $0.001; 100,000,000
       shares authorized; 3,930,250 shares issued and
       outstanding for 2001, and 1,830,250 shares issued
       and outstanding in 2000.                                               3,930                3,930
   Additional Paid-in Capital                                               543,083              543,083
   Accumulated Deficit during the Development Stage                        (667,258)            (649,978)
                                                                      --------------        -------------

Total Stockholders' Equity (Deficit)                                       (120,245)            (102,965)
                                                                      --------------        -------------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)                             $ 97                 $ 27
                                                                      ==============        =============

</TABLE>

   The accompanying notes are an integral part of these financial statements.
                                      F-1

<PAGE>

<TABLE>
<CAPTION>


                                                                                                             For the
                                                                                                             Period
                                                                         (Unaudited)                       May 5, 1992
                                                                         Year Ended                       (Inception) to
                                                                          March 31,                          March 31,
                                                                    2001               2000                    2001
                                                                ------------       -------------          ---------------
<S>                                                                 <C>                <C>                 <C>
REVENUE:                                                                  $ -                $ -                  $ -


EXPENSES:
   Provision for Bad Debt                                                   -                  -              453,432
   Amortization                                                             -                  -                  500
   Professional Expenses                                                    -                  -               45,843
   Management Fees                                                     15,000             15,000              145,000
   Other                                                                   30                 30                2,275
   Office Expenses                                                      2,250              2,250               21,750
                                                                --------------     --------------     ----------------
Total Expenses                                                         17,280             17,280              668,800
                                                                --------------     --------------     ----------------
OTHER INCOME/ EXPENSES
  Interest Income                                                           -                  -                3,372
  Other Expenses                                                            -               (495)              (1,830)
                                                                --------------     --------------     ----------------
Total Other Income/Expenses                                                 -               (495)               1,542
                                                                --------------     --------------     ----------------
NET LOSS                                                             $(17,280)          $(17,775)          $ (667,258)
                                                                ==============     ==============     ================

Net Loss Per Share                                                    $ (0.01)           $ (0.01)
                                                                --------------     --------------
Weighted Average Shares Outstanding                                 3,290,250          1,830,250
                                                                ==============     ==============

</TABLE>


   The accompanying notes are an integral part of these financial statements.
                                      F-2

<PAGE>

<TABLE>
<CAPTION>

                                   BIO-AMERICAN CAPITAL CORP.
                                 (A Development Stage Company)
                                    Statements of Operations
                  For the Three Months Ended March 31, 2001 and March 31, 2000
             With Comparative Totals from May 5, 1992 (Inception to March 31, 2001
                                           (Unaudited



                                                                                                 For the
                                                                                                 Period
                                                                (Unaudited)                    May 5, 1992
                                                                Year Ended                   (Inception) to
                                                                 March 31,                      March 31,
                                                           2001               2000                2001
                                                        ----------          --------         --------------
<S>                                                        <C>                <C>                 <C>

REVENUE:                                                         $ -                $ -                  $ -


EXPENSES:
   Provision for Bad Debt                                          -                  -              453,432
   Amortization                                                    -                  -                  500
   Professional Expenses                                           -                  -               45,843
   Management Fees                                            15,000             15,000              145,000
   Other                                                          30                 30                2,275
   Office Expenses                                             2,250              2,250               21,750
                                                       --------------     --------------     ----------------
Total Expenses                                                17,280             17,280              668,800
                                                       --------------     --------------     ----------------
OTHER INCOME/ EXPENSES
  Interest Income                                                  -                  -                3,372
  Other Expenses                                                   -               (495)              (1,830)
                                                       --------------     --------------     ----------------
Total Other Income/Expenses                                        -               (495)               1,542
                                                       --------------     --------------     ----------------
NET LOSS                                                    $(17,280)          $(17,775)          $ (667,258)
                                                       ==============     ==============     ================

Net Loss Per Share                                           $ (0.01)           $ (0.01)
                                                       --------------     --------------
Weighted Average Shares Outstanding                        3,290,250          1,830,250
                                                       ==============     ==============

</TABLE>

   The accompanying notes are an integral part of these financial statements.
                                      F-2

<PAGE>

<TABLE>
<CAPTION>

                           BIO-AMERICAN CAPITAL CORP.
                         (A Development Stage Company)
Statement of Changes in Stockholders' Equity (Deficit) For the Period May 5, 1992 (Inception) to March 31, 2001
                                  (Unaudited)


                                                                                               Deficit
                                                                                             Accumulated
                                                                               Additional     During the         Total
                                                        Common Stock            Paid-In      Development      Stockholders'
                                                    Shares         Amount       Capital         Stage            Equity
                                                   --------       --------     ----------    -------------    -------------
<S>                                                <C>             <C>          <C>           <C>              <C>

Balance - May 5, 1992                                       -           $ -           $ -             $ -              $ -
                                                  -------------------------------------------------------------------------
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 - March 30, 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         (30,938)         474,075
                                                  -------------------------------------------------------------------------
Cash payment for subscription                               -             -             -               -                -
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 accrued liabilities           2,100,000         2,100        39,900               -           42,000
Net Loss                                                    -             -             -         (80,893)         (80,893)
                                                  -------------------------------------------------------------------------
Balance - December 31, 2000                         3,930,250       $ 3,930      $543,083      $ (649,978)      $ (102,965)
                                                  -------------------------------------------------------------------------
Net Loss - March 31, 2001                                   -             -             -         (17,280)         (17,280)

Balance - March 31, 2001                            3,930,250       $ 3,930      $543,083      $ (748,151)      $ (120,245)
                                                  =========================================================================

</TABLE>

   The accompanying notes are an integral part of these financial statements.
                                      F-3

<PAGE>

<TABLE>
<CAPTION>
                           BIO-AMERICAN CAPITAL CORP.
                         (A Development Stage Company)
                            Statements of Cash Flows
          For the Three Months Ended March 31, 2001 and March 31, 2000
     With Comparative Totals from May 5, 1992 (Inception) to March 31, 2001
                                  (Unaudited)

                                Indirect Method


                                                                                                        For the
                                                                                                        Period
                                                                        (Unaudited)                   May 5, 1992
                                                                     Three Months Ended             (Inception) to
                                                                          March 31,                   March 31,
                                                                   2001               2000               2001
                                                                 --------           --------        --------------
<S>                                                                <C>                <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net Loss                                                        $ (17,280)         $(17,775)          $ (649,978)
   Adjustments to reconcile net loss to net cash
    used in operating activities
     Amortization                                                          -                 -                  500
    Stock issued for accrued liabilities                                   -                 -               42,000
    Changes in assets and liabiliites
     Increase in Accounts Payable                                     17,250            17,250              102,842
                                                               --------------     -------------     ----------------
     Increase in Accrued Liabilities                                     100               495                  150
                                                               --------------     -------------     ----------------
                                                                      17,350            17,745              145,492
                                                               --------------     -------------     ----------------
Net Cash Used in Operating Activities                                     70               (30)            (504,486)
                                                               --------------     -------------     ----------------
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                                    -                 -              505,013
     Proceeds from Notes Payables                                          -                 -               16,500
     Principal payments of Notes Payable                                   -                 -              (16,500)
                                                               --------------     -------------     ----------------
Net Cash Provided by Financing Activities                                  -                 -              505,013
                                                               --------------     -------------     ----------------
(Decrease) Increase in Cash                                               70               (30)                  27
                                                               --------------     -------------     ----------------
Cash at Beginning of Period                                               27               589                    -
                                                               --------------     -------------     ----------------
Cash at End of Period                                                   $ 97             $ 559                 $ 27
                                                               ==============     =============     ================

Supplemental Disclosures
     Interest                                                            $ -             $ 495              $ 1,830
                                                               --------------     -------------     ----------------
     Taxes                                                               $ -               $ -                  $ -
                                                               --------------     -------------     ----------------

</TABLE>

   The accompanying notes are an integral part of these financial statements.
                                      F-4



<PAGE>



                        BIO-AMERICAN CAPITAL CORPORATION
                          (A Development Stage Company)
                          Notes to Financial Statements
                                 March 31, 2001
                                   (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 months ended March 31, 2000, are not
necessarily indicative of the results for the reminder of the fiscal year ending
December 31, 2001.

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 -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

                                      F-5

<PAGE>

                        BIO-AMERICAN CAPITAL CORPORATION
                          (A Development Stage Company)
                          Notes to Financial Statements
                                 March 31, 2001
                                   (Unaudited)


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 $667,258.

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.

                                      F-6

<PAGE>

Item 2. Management's  Discussion and Analysis of Financial  Condition and Result
--------------------------------------------------------------------------------
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 March 31, 2001 and
-----------------------------------------------------------------------------
March 31, 2000
--------------

         The Company had no revenues for the three months ended March 31, 2001
and March 31, 2000. In 2001 the Company incurred $17,280 in expenses compared to
$17,775 in 1999. In 2001 and 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.

         The net operating loss in the first quarter in 2001 was $17,280 as
compared to $17,775 in 1999. The net loss per share for the quarter each year
was less than $0.01 in 2001 and 2000.

         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 March 31, 2001, 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

<PAGE>

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.

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.


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.


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

        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:  May 11, 2001                               ------------------------------
                                                  Leonard Viejo, President