<PERIOD>     06/30/04
              U.S. SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                           FORM 10-QSB
(Mark One)

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

        For the quarterly period ended June 30, 2004

[   ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
        SECURITIES EXCHANGE ACT OF 1934

	For the transition period from __________ to __________

                      Commission file number: 0-2664

                       INVESTORS FINANCE, INC.
   (Exact name of small business issuer as specified in its charter)
                        ___________________

		Hawaii				   99-0112763
	(State or other jurisdiction of		(I.R.S. Employer
	incorporation or organization)		Identification No.)

	820 Mililani, Suite 300, Honolulu, Hawaii	96813
	(Address of principal executive offices)	(Zip Code)

                 Issuer's telephone number: (808)533-7437

___________________

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 [   ] No[ x ]

Number of shares outstanding of the issuer's common stock as of March 31,
2004: 5,000,000 However, the number of authorized shares of common stock
was increased during September, 2003 Annual Shareholders Meeting to
9,000,000.

Transitional Small Business Disclosure Format (check one): Yes [  ]  No [ x ]

Part 1 - Financial Information

Item 1. Financial Statements

                        (UNAUDITED)
<TABLE>
<S>                                              <C>
<PERIOD-TYPE>                                  3-MOS
<FISCAL-YEAR-END>                          DEC-31-2004
<PERIOD-END>                               JUN-30-2004
<CASH>                                         407,930
<SECURITIES>                                         0
<RECEIVABLES>                                   14,303
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               431,757
<PP&E>                                         185,823
<DEPRECIATION>                                 (93,420)
<TOTAL-ASSETS>                               1,747,705
<CURRENT-LIABILITIES>                          664,364
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                  2,822,303.00
<OTHER-SE>                                           0
<RETAINED EARNINGS>                        (1,738,962)
<TOTAL-LIABILITY-AND-EQUITY>                 1,747,705
<SALES>                                        920,603
<TOTAL-REVENUES>                               920,603
<CGS>                                                0
<TOTAL-COSTS>                                2,021,432
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                38,284
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                               (270,218)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                 (8743)
<CHANGES>                                            0
<NET-INCOME>                                 (278,961)
<EPS-PRIMARY>                                  (0.033)
<EPS-DILUTED>                                  (0.033)
</TABLE>

Item 2. Plan of Operations

The Company is a Hawaiian corporation licensed under the Hawaiian Code of
Financial Institutions to operate as a non-depository financial services
loan company for the purposes of originating, brokering and servicing of
loans and extensions of credit. In July 2003 the Company was granted a
license to operate a branch office at 9750 Miramar Road, Suite 133,
San Diego, CA 92126 and on December 31, 2003 the Company moved to its
current location, 10080 Carroll Canyon Rd., San Diego, Ca. 92131.
During the time period of this report, the Company continued to deliver
its principal services of the origination, brokerage and servicing of
residential and commercial mortgages from its offices in Hawaii at
820 Mililani St., Ste. 300, Honolulu, HI. 96813, as well as from the
branch office in California. In addition,IFI continued to explore other
profitable opportunities to utilize its license as a non-depository
financial services loan company under Hawaiian law.


Item 3. Controls and Procedures

The financial statements, and other financial information included in
this quarterly report, are believed to fairly present in all material
respects the financial condition, results of operations and cash flows
of the registrant as of, and for, the period presented in this quarterly
report. Management has retained the services of a certified public
accountant to prepare a compilation of its books and records and to the
best of our knowledge and belief; this report correctly reflects the
financial condition of the Company as of June 30, 2004. While the
financial statements have not been audited, the Company anticipates
having audited financial statements prepared when it is financially able
to do so.

PART II

Item 1. Legal Proceedings

The Company engaged in no litigation during the time period of this
report other than a claim for damages it filed in San Diego Superior
Court (Investors Finance, Inc. v. Aaron Prichard) in connection with
losses allegedly sustained as a result of a former employee departing
the company with company employees and customers. The case was pending
during the period of this report.
Additionally, from time to time, the Company is involved in litigation
in the ordinary course of its business. As a result of legal defenses
and insurance arrangements, the Company does not believe that any such
litigation, if decided unfavorably to the Company, would have a material
adverse effect on its business or assets.

Further, to the knowledge of management, no director, officer, affiliate
or holder of record or beneficial owner of more than 5% of the common
voting stock of the Company is, or was, a party adverse to the Company
or has or had a material adverse interest in any proceeding.

Item 2. Changes In Securities.  (NONE)

Item 3. Defaults Upon Senior Securities (NONE)

Item 4. Submission of Matters to a Vote of Security Holders.  During the
time period of this report, no matters were submitted to a vote of
security holders.

Item 5. Other Information (None)

Item 6. Exhibits and Reports on Form 8-K (NONE)


SIGNATURES

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

                                        (Registrant)
                                        Investors Finance, Inc.

                                        By:   /s/ Michael S. Monaco
                                              ------------------------
                                              Michael S. Monaco,
    Chief Executive Officer





  CERTIFICATION

         I, Michael S. Monaco, the Chief Executive Officer and Board
Member of Investors Finance, Inc. certify as follows:

         1.	I have reviewed this quarterly report on Form 10-QSB of
Investors Finance, Inc.;

2. Based on my knowledge, this quarterly report does
not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made not misleading with
respect to the period covered by this quarterly report;

         3. Based on my knowledge, the financial statements, and other
financial information included in this quarterly report, fairly present
in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the period presented
in this quarterly report.  Management retained the services of a
certified public accountant to prepare a compilation of its books
and records and to the best of our knowledge and belief, this report
correctly reflects the financial condition of the Company as of
June 30, 2004. While the financial statements have not been
audited, the Company anticipates having audited financial statements
prepared when it is financially able to do so.


         4. I am responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules
13a-14 and 15d-14) for the registrant and have:

                  a) designed such disclosure controls and procedures to
       	    ensure that material information relating to the
            registrant, including its consolidated subsidiaries,
            is made known to us by others within those entities,
            particularly during the period in which this quarterly
            report is being prepared;

                  b) evaluated the effectiveness of the registrant's
            disclosure controls and procedures as of a date within
            90 days prior to the filing date of this quarterly
            report (the "Evaluation Date"); and

                  c) presented in this quarterly report our conclusions
            about the effectiveness of the disclosure controls and
            procedures based on our evaluation as of the Evaluation Date;

         5. I have indicated in this quarterly report whether or not
            there were significant changes in internal controls or in other
            factors that could have significantly affected internal
            controls subsequent to the date of our most recent evaluation,
            including any corrective actions with regard to significant
            deficiencies and material weaknesses.


            /s/ Michael S. Monaco
                              ----------------------------------------
                              Michael S. Monaco
                              Chief Executive Officer