SECURITIES AND EXCHANGE COMMISSION
                                  Washington, D.C. 20549

                                         FORM 10-Q
                         Quarterly Report Under Section 13 or 15(d)
                          of the Securities Exchange Act of 1934.

      For the quarter ended September 30, 2000 Commission file number 0-16734

                                 C.E.C. INDUSTRIES CORP.

                   (Exact name of registrant as specified in its charter)


                 Nevada                                      87-0217252
         (State or other jurisdiction of                    (I.R.S. Employer
         incorporation or organization)                    Identification No.)

         3450 E Russell Road
         Las Vegas, Nevada                                        89120
         (Address of principal executive offices)                (Zip Code)

         Registrant's telephone number, including area code   (702) 214-4253

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
                                      Yes X No _____

As of September 30, 2000, there were 40,831,805 shares of common stock
outstanding.
<PAGE>
                                   INDEX


PART I - FINANCIAL INFORMATION                                   Page No.

   Item 1.   Financial Statements

     Balance Sheet as of September 30, 2002 and March 31, 2002        3-4

     Statement of Operations for the Quarters
       ended September, 2002 and 2001                                   5

     Statement of Cash Flows for the Quarters ended
       ended September, 2002 and 2001                                   6

     Notes to Financial Statements                                      7

   Item 2.   Management's Discussion and Analysis of
             Financial Condition and Results of Operation               8

PART II - OTHER INFORMATION

   Item 1.   Legal Proceedings                                          8

   Item 2.   Changes in Securities                                      8

   Item 3.   Defaults by the Company upon its Senior Securities         8

   Item 4.   Submission of Matter to a Vote of Security Holders         8

   Item 5.   Other Information                                          8

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

   SIGNATURES                                                           8

                                   Page Two
<PAGE>

                           PART I - FINANCIAL INFORMATION

Item 1. Financial Statements
                                C.E.C. Industries Corp.
                             (A Development Stage Company)
                                     BALANCE SHEET
                                          AS AT
                            September 30, 2002 and March 31, 2002
<CAPTION>
<TABLE>
                                  March 31, 2002            September 30, 2002
     ASSETS
<S>                               <C>                       <C>
CURRENT ASSETS
Cash                                     476.00                    386.00
                                    -----------               -----------
Total Current Assets                   1,526.00                    386.00


OTHER ASSETS
Oil & Gas Interests                  116,415.00                116,415.00
                                    -----------               -----------
TOTAL OTHER ASSETS                   116,415.00                116,415.00

TOTAL ASSETS                        $116,891.00               $116,801.00
                                    -----------               -----------
                                    -----------               -----------
                                     -UNAUDITED-
                  See accompanying notes to financial statements

</TABLE>
                                            Page Three
<PAGE>

                                   C.E.C. Industries Corp.
                                 (A Development Stage Company)
                                        BALANCE SHEET
                                            AS AT
                            September 30, 2002 and March 31, 2002

<TABLE>                                   LIABILITIES & EQUITY
<CAPTION>
                                     March 31, 2002         September 30, 2002
<S>                                  <C>                    <C>
     CURRENT LIABILITIES
Accounts Payable                                   $769,646.00     $769,646.00
                                                   -----------     -----------
Total Current Liabilities                          $769,646.00     $769,646.00

OTHER LIABILITIES
Judgement                                           207,306.00      207,306.00
                                                   -----------     -----------
Total Other Liabilities                             207,306.00      207,306.00
                                                   -----------     -----------
Total Liabilities                                   976,952.00      976,952.00

     EQUITY
Common Stock, $0.001 par value, authorized
 50,000,000 shares;                               2,039,090.00    2,039,090.00
  issued and outstanding at March 31, 2002
  40,831,805 common shares ; issued and
  outstanding at September 30, 2002,
  40,831,805 shares

Preferred Stock, $0.001 par value, authorized
  100,000,000 shares; issued at March 31, 2002
  and September 30, 2000 0 shares                         0.00            0.00

Additional Paid in Capital                        6,162,830.00    6,162,830.00
Retained Earnings (Deficit accumulated during
development stage)                               (9,061,981.00)  (9,062,071.00)
                                                   -----------     -----------
Total Stockholders' Equity                         (860,061.00)    (860,151.00)
                                                   -----------     -----------
     TOTAL LIABILITIES & OWNER'S EQUITY            $116,891.00     $116,801.00
                                                   -----------     -----------
                                                   -----------     -----------
</TABLE>
                                           -UNAUDITED-

                                            Page Four
<PAGE>

                                C.E.C. Industries Corp.
                              (A Development Stage Company)
                                 STATEMENT OF OPERATIONS
                                 FOR THE QUARTERS ENDED
                    ending September 30, 2002 and September 30, 2001
<TABLE>
<CAPTION>
                                                 September 30,   September 30,
     REVENUE                                        2002                2001
<S>                                              <C>             <C>
Royalty Income                                           0.00           301.00

    COSTS AND EXPENSES
General and Administrative                              45.00           305.00

Other Income (Expense)
Interest Income
Temporary Decrease in Marketable Securities
Interest Expense

Total Costs and Expenses                                45.00           305.00
                                                  -----------      -----------
              Net Income or (Loss)                     (45.00)          (4.00)
                                                  -----------      -----------
                                                  -----------      -----------

Basic earnings per share
number of common
shares outstanding                                 40,831,805       40,831,805

    Net Loss
    Per Share                                             nil              nil

 </TABLE>
                                           -UNAUDITED-
                                            Page Five
<PAGE>

                                 C.E.C. Industries Corp.
                               (A Development Stage Company)
                                 STATEMENT OF CASH FLOWS
                                       FOR PERIOD
                                 FOR THE QUARTERS ENDED
                           ending September 30, 2002 and September 30, 2001

<TABLE>
CASH FLOWS FROM OPERATING ACTIVITIES
 <CAPTION>
                                                 September 30,   September 30,
                                                    2002                2001
<S>                                              <C>             <C>
Net  Income or (Loss)                                  (45.00)           (4.00)
Temporary Decrease in Trading Securities                 0.00             0.00
Adjustments to Reconcile Net Loss to Net Cash
used in Operating Activities
Non cash transaction- shares issued for services         0.00             0.00
(Increase) Decrease in Other Assets                      0.00             0.00
Increase/(Decrease) in accounts payable                  0.00             0.00
Net change in cash from operations                     (45.00)           (4.00)

CASH FLOWS FROM INVESTING ACTIVITIES

Net change in cash from investment activities            0.00             0.00

CASH FLOWS FROM FINANCING ACTIVITIES

     Net cash provided by financing activities           0.00             0.00

     Balance at beginning of period                    431.00            44.00
     Net increase (decrease)  in cash                  (45.00)           (4.00)
     Balance at end of period                          386.00            40.00
</TABLE>
                                           -UNAUDITED-

                                            Page Six
<PAGE>


                              C.E.C. INDUSTRIES CORP.
                    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (Unaudited)

1. Statement of Information Furnished

The accompanying unaudited consolidated financial statements have been prepared
in accordance with Form 10-Q instructions and in the opinion of management
contain all adjustments (consisting of only normal recurring accruals)
necessary to present fairly the financial position as of June 30, 2000, the
results of operation for the three months ended June 30, 2000 and 1998 and the
cash flows for the three months ended June 30, 2000 and 1999. These results
have been determined on the basis of generally accepted accounting principles
and practices and applied consistently with those used in the preparation of
the Company's 2000 Annual Report on Form 10-K.

Certain information and footnote disclosures normally included in financial
statements presented in accordance with generally accepted accounting
principles have been condensed or omitted. It is suggested that the
accompanying consolidated financial statement be read in conjunction with the
financial statements and notes thereto incorporated by reference in the
Company's 2000 Annual Report on Form 10-K.


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

Royalty income for the quarter ended September 30, 2002 were $0 compared to
royalty income for the quarter ended September 30, 2000 of $893. All revenues in
the quarter were from oil royalties.

Selling, General and Administrative Expenses increased from $-4 in 2001 to
$-215 in 2002 due to the compan's inactivity.  There were no legal expenses in
2002 or in 2000.  Interest expenses were $0 in 2001 and $0 in 2002 due to
reduction in debt during previous years.

                              Page Seven
<PAGE>
                                  C.E.C. INDUSTRIES CORP.

                                PART II - OTHER INFORMATION

Item 1. Legal Proceedings
None

Item 2. Changes in Securities
None

Item 3. Defaults by the company upon its Senior Securities
None

Item 4. Submission of Matter to a Vote of Security Holders
None

Item 5. Other Information
None

Item 6. Exhibits and Reports of Form 8-K

None

C.E.C. INDUSTRIES CORP.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.


C.E.C. INDUSTRIES CORP.



By:  /s/ Brian Dvorak                 Dated: November 14, 2002
     ---------------------
     Brian Dvorak, President