SECURITIES AND EXCHANGE COMMISSION

                                              WASHINGTON, D.C. 20549

                                                    FORM 10-QSB
[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934
         For the quarterly period ended March 31, 2001

[        ] 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 0-23957

                                                 MEDITECNIC, INC.
                          (Exact Name of Registrant as specified in its Charter)


            Delaware                                                87-0430532
(State or other Jurisdiction of                        I.R.S. Employer Identi-
Incorporation or Organization                            fication No.)

                                  14 Quai du Seujet, Geneva, Switzerland CH-1201
(Address of Principal Executive Offices)                           (Zip Code)

                                                  (949) 489-2400
                           (Registrant's Telephone Number, including Area Code)




           Indicate  by check  mark  whether  the  Registrant  (i) 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 (of for such shorter  period that the
Registrant  was required to file such reports) and (ii) has been subject to such
filing requirements for 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.

Common Stock, $.001 par value                                        7,527,485
----------------------------------                        -------------------
Title of Class                                    Number of Shares outstanding
                                                           at March 31, 2001
No exhibits included.

                                                         1

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<TABLE>
<CAPTION>



                                MEDITECNIC, INC.
                      (A Company in the Development Stage)

                                 BALANCE SHEETS



                                     ASSETS

                                                                                       December 31,         March 31,
                                                                                           2000               2001


CURRENT ASSETS
<S>                                                                                   <C>               <C>
  Cash                                                                                $      702,350    $       564,238
  Interest Receivable                                                                         15,939             20,974
  Marketable Securities                                                                      766,990            740,390


  Total Current Assets                                                                     1,485,279          1,325,602

Other Assets
   Patent                                                                                    760,620            760,620
   Deposits                                                                                  258,550            258,550
   Note Receivable - Non-current                                                             381,976            500,618

              TOTAL ASSETS                                                            $    2,886,425    $     2,845,390




                      LIABILITIES AND STOCKHOLDERS' EQUITY


CURRENT LIABILITIES - Accounts Payables                                               $       12,682    $         8,677


   Total Current Liabilities                                                                  12,682              8,677

STOCKHOLDERS' EQUITY
Preferred Stock, $.001 par value; 1,000,000 shares
  authorized; 1,000 shares issued and outstanding                                                  1                  1

Common Stock, $.001 par value; 20,000,000 shares
  authorized; 7,527,485 shares issued and outstanding                                          7,528              7,528

Additional paid-in capital                                                                 3,075,055          3,075,055

Accumulated deficit during the development stage                                           (201,546)          (238,740)
Accumulated Other Comprehensive Income                                                         7,295            (7,131)




              TOTAL STOCKHOLDERS' EQUITY                                                   2,873,743          2,836,713





TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY                                            $    2,886,425    $     2,845,390

</TABLE>



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

                                                                   2

<PAGE>

<TABLE>
<CAPTION>


                                MEDITECNIC, INC.
                      (A Company in the Development Stage)

                            STATEMENTS OF OPERATIONS



                                                                                                                       CUMULATIVE
                                                                                        FOR THE THREE                     FROM
                                                                                        MONTHS ENDED                 March 24, 1998
                                                                                          March 31,                        TO
                                                                                  2001                 2000          March 31, 2001





<S>                                                                         <C>                   <C>                 <C>
REVENUES                                                                    $            -0-      $         -0-       $          -0-



OPERATING EXPENSES

  General and Administrative                                                          15,629              3,732              158,933
  Research and Development                                                                --              1,040              246,617


TOTAL OPERATING EXPENSES                                                              15,629              4,772              405,550

NET OPERATING INCOME                                                                (15,629)            (4,772)            (405,550)

OTHER INCOME (LOSS)
  Interest Income                                                                      5,035              1,676               52,559
  Interest Expense                                                                        --              (227)              (9,453)
  Gain (Loss) in Marketable Securities                                              (26,600)             21,270              123,732


                                                                                    (21,565)             22,719              166,838


NET INCOME (LOSS)                                                                   (37,194)      $      17,947       $    (238,712)

NET INCOME (LOSS) PER SHARE                                                 $          (.00)      $       (.00)




WEIGHTED AVERAGE NUMBER
 OF SHARES OUTSTANDING                                                             7,527,485          7,527,485



</TABLE>













                 See accompanying Notes to Financial Statements.

                                                                   3

<PAGE>
<TABLE>
<CAPTION>



                                MEDITECNIC, INC.
                      (A Company in the Development Stage)

                            STATEMENTS OF CASH FLOWS

                                                                                                                       CUMULATIVE
                                                                                        FOR THE THREE                     FROM
                                                                                        MONTHS ENDED                 March 24, 1998
                                                                                          March 31,                        TO
                                                                                  2001                 2000          March 31, 2001



CASH FLOWS FROM OPERATING
ACTIVITIES

<S>                                                                         <C>                   <C>                 <C>
  Net Income (Loss)                                                         $       (37,194)      $      17,947       $    (238,712)

  (Increase) in Interest Receivable                                                  (5,035)              3,066             (20,794)

  Increase (decrease) in accounts payable                                            (4,005)                                   8,677

  Increase in Other Comprehensive Income                                                 164            (2,847)              (7,131)


  Net cash flows from operating
   activities                                                                       (46,070)           (18,166)            (258,140)

CASH FLOWS FROM INVESTING ACTIVITIES
  Cash Used For Deposit                                                                                (62,830)            (258,550)
  Increase in Note Receivable                                                      (118,642)           (24,624)            (500,618)
  Cash Used For Patent Acquisition                                                                     (60,390)            (760,620)
  Increase (decrease) In Marketable Securities                                        26,600           (21,270)            (740,390)


  Net Cash flows from investing activities                                          (92,042)          (169,114)          (2,260,178)

CASH FLOWS FROM FINANCING
  ACTIVITIES
   Sale of Common Stock                                                                                                    3,082,584


  Net Cash flows from financing
   activities                                                                                                              3,082,584

NET INCREASE (DECREASE) IN CASH                                             (138,112)             (150,948)           564,238

CASH BALANCE AT BEGINNING
  OF PERIOD                                                                          702,350            267,820                   --



CASH BALANCE AT END OF
  PERIOD                                                                    $        564,238      $     116,872       $      564,238



Cash paid for Interest                                                                    --                227                9,453


</TABLE>




                 See accompanying Notes to Financial Statements.

                                                                   4

<PAGE>



                                                 MEDITECNIC, INC.
                                       (A Company in the Development Stage)

                                      NOTES TO CONDENSED FINANCIAL STATEMENTS
                                                    (UNAUDITED)
                                                  March 31, 2001


1.       Comments

         The accompanying financial statements are unaudited, but in the opinion
         of the management of the Company,  contain all adjustments,  consisting
         of only normal  recurring  accruals,  necessary  to present  fairly the
         financial position at March 31, 2001, the results of operations for the
         three months ended March 31, 2001 and 2000,  and the cash flows for the
         three months ended March 31, 2001 and 2000.

         Reference  is made to the  Company's  Form  10-KSB  for the year  ended
         December 31, 2000. The results of operations for the three months ended
         March  31,  2001  are not  necessarily  indicative  of the  results  of
         operations to be expected for the full fiscal year ending  December 31,
         2001.

Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
AND FINANCIAL
         CONDITION

         No sales  have yet been made of the  Company's  products.  The  Company
         realized a loss due to the decrease in market value of publicly  traded
         securities it owns.

                                            PART II.  OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS  -  None

Item 2.  CHANGES IN SECURITIES - None

Item 3.  DEFAULTS UPON 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 ON FORM 8-K

         Exhibits--None

         Reports on Form 8-K--None.


                                                         5

<PAGE>



                                                    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.


                                                              MEDITECNIC, INC.



Date:     June 18, 2001                                       By:
                                               Finn Robert-Tissot
                                                  Chief Financial Officer
                                                 (chief financial officer and
                                                    accounting officer and duly
                                                 authorized officer)