U.S. 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, 1998

                                OR

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

                COMMISSION FILE NUMBER:  333-9809


                           DURWOOD, INC.  
      (Exact name of registrant as specified in its charter)


     Delaware                                      87-0561426 
(State or other jurisdiction                 (I.R.S. Employer
of incorporation or organization)            Identification No.)


             4085 West 4715 South, Kearns, Utah 84118  
             (Address of principal executive offices)

                          (801) 967-0777      
       (Registrant's telephone number, including area code)


Check whether the issuer (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 report(s), and (2)
has been subject to such filing requirements for the past 90
days.

YES [X]   NO [ ]     

The number of $.001 par value common shares outstanding at March
31, 1998:  1,103,500

<PAGE>
                  PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements

     See attached.
      






                                   








                            DURWOOD, INC.
                    (A DEVELOPMENT STAGE COMPANY)

                         FINANCIAL STATEMENTS

                MARCH 31, 1998 AND DECEMBER 31, 1997 









<PAGE>
                           C O N T E N T S


Independent Auditors' Report . . . . . . . . . . . . . . . .  3

Balance Sheets . . . . . . . . . . . . . . . . . . . . . . .  4

Statements of Operations . . . . . . . . . . . . . . . . . .  5

Statements of Stockholders' Equity . . . . . . . . . . . . .  6

Statements of Cash Flows . . . . . . . . . . . . . . . . . .  7

Notes to the Financial Statements  . . . . . . . . . . . . .  8























<PAGE>





                     INDEPENDENT AUDITORS' REPORT



The Board of Directors
Durwood, Inc.
(A Development Stage Company)
Salt Lake City, Utah

The accompanying balance sheet as of March 31, 1998, and the related
statements of operations, stockholders' equity, and cash flows for the periods
ended March 31, 1998 and 1997 and from inception on July 12, 1996 through
March 31, 1998 were not audited by us and, accordingly, we do not express an
opinion on them.

The accompanying balance sheet as of December 31, 1997 was audited by us and
we expressed an unqualified opinion on it in our report dated March 20, 1998



Jones, Jensen & Company
May 5, 1998
<PAGE>
                            DURWOOD, INC.
                    (A Development Stage Company)
                            Balance Sheets

                                ASSETS

                                                March 31,  December 31,
                                                  1998        1997       
                                                 _______    ________
                                               (Unaudited) 
CURRENT ASSETS

  Cash                                          $ 16,949   $  18,068
                                                 _______    ________
     Total Current Assets                         16,949      18,068
                                                 _______    ________
OTHER ASSETS

  Inventory                                        1,000       1,000
  Property and equipment                           4,714       4,986
                                                 _______    ________
     Total Other Assets                            5,714       5,986
                                                 _______    ________
     TOTAL ASSETS                               $ 22,663   $  24,054
                                                 =======    ========

                 LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

  Accounts payable                              $  1,225   $  -     
                                                 _______    ________
     Total Current Liabilities                     1,225      -     
                                                 _______    ________
     TOTAL LIABILITIES                             1,225      -     
                                                 _______    ________
STOCKHOLDERS' EQUITY 

  Preferred stock: 500,000 shares authorized
   of $0.001 par value but unissued                -           -     
  Common stock: 50,000,000 shares authorized
   of $0.001 par value, 1,103,500 shares
   issued and outstanding                          1,104       1,104
  Additional paid-in capital                      48,534      48,534
  Deficit accumulated during the development
   stage                                         (28,200)    (25,584)
                                                 _______    ________
     Total Stockholders' Equity                   21,438      24,054
                                                 _______    ________
     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 22,663   $  24,054
                                                 =======    ========



The accompanying notes are an integral part of these financial statements

<PAGE>
                            DURWOOD, INC.
                    (A Development Stage Company)
                       Statements of Operations
                             (Unaudited)


                                                          From
                                                       Inception on
                                       For the           July 12,   
                                  Three Months Ended   1996 Through  
                                       March 31,         March 31,
                                   1998       1997         1998 
                                  ________   ________    ________

REVENUES                         $  -       $  -        $  -     


EXPENSES                             2,616      1,364      28,200
                                  ________   ________    ________

NET INCOME (LOSS)                $  (2,616) $  (1,364)  $ (28,200)
                                  ========   ========    ========
NET EARNINGS (LOSS) PER SHARE
 OF COMMON  STOCK                $   (0.00) $   (0.00)
                                  ========   ========






The accompanying notes are an integral part of these financial statements

<PAGE>
                            DURWOOD, INC.
                    (A Development Stage Company)
                  Statements of Stockholders' Equity
                             (Unaudited)


                                                                   Deficit
                                                                 Accumulated
                                                     Additional  During the
                                       Common Stock   Paid-in    Development  
                                      Shares  Amount  Capital      Stage
                                    _________  _____   _______      _______

Balance, July 12, 1996                -       $  -     $   -       $    - 

Common stock issued for cash at
  $0.01 per share on July 15, 1996  1,000,000  1,000     9,000          -      

Net loss for the five months 
 ended December 31, 1996              -         -          -         (7,001)
                                    _________  _____   _______      _______

Balance, December 31, 1996          1,000,000  1,000     9,000       (7,001)

Common stock issued for cash
 at $0.50 per share on
 April 21, 1997                       103,500    104    51,646           -  
Stock issuance costs                   -         -     (12,112)          - 

Net loss for the year ended
 December 31, 1997                     -         -         -        (18,583)
                                    _________  _____   _______      _______

Balance, December 31, 1997          1,103,500  1,104    48,534      (25,584)

Net loss for the three months
 ended March 31, 1998                  -         -         -         (2,616)
                                    _________  _____   _______      _______

Balance, March 31, 1998             1,103,500 $1,104  $ 48,534     $(28,200)
                                    =========  =====   =======      =======



The accompanying notes are an integral part of these financial statements

<PAGE>
                            DURWOOD, INC.
                    (A Development Stage Company)
                       Statements of Cash Flows
                             (Unaudited)

                                                                     From 
                                                                  Inception on
                                                   For the          July 12,
                                              Three Months Ended  1996 Through
                                                   March 31,        March 31,
                                                1998        1997      1998  
                                               ________   ________    ________ 
                               
CASH FLOWS FROM OPERATING ACTIVITIES

  Income (loss) from operations               $  (2,616) $  (1,364)  $(28,200)
  Adjustments to reconcile net income to net         
   cash provided by operating activities: 
   Increase in accounts payable                     272     -             725
                                 
   Increase in tax payable                       -             619      -     
                                 
   Increase in inventory                         -          -          (1,000)
                                               ________   ________    ________ 
     Net Cash Used by Operating Activities       (1,119)      (865)   (27,250)
                                               ________   ________    ________ 
CASH FLOWS FROM INVESTING ACTIVITIES

  (Increase) in equipment                        -          -          (5,439)
                                               ________   ________    ________
     Net Cash Provided by Investing Activities   -          -          (5,439)
                                               ________   ________    ________
CASH FLOWS FROM FINANCING ACTIVITIES

  Payment of deferred stock offering costs       -            (750)   (12,112)
  Common stock issued for cash                   -          -          61,750
                                               ________   ________    ________
Net Cash Provided by Financing Activities        -            (750)    49,638
                                               ________   ________    ________
NET INCREASE IN CASH AND CASH EQUIVALENTS        (1,119)    (1,615)    16,949
                                 

CASH AND CASH EQUIVALENTS AT
 BEGINNING OF PERIOD                             18,068      3,250      -     
                                               ________   ________    ________
CASH AND CASH EQUIVALENTS AT
 END OF PERIOD                                $  16,949  $   1,635   $  16,949
                                               ========   ========    ========
Cash Paid For:

  Interest                                    $  -       $  -        $  -     
  Income taxes                                $  -       $  -        $  -     



The accompanying notes are an integral part of these financial statements

<PAGE>
                            DURWOOD, INC.
                    (A Development Stage Company)
                  Notes to the Financial Statements
                 March 31, 1998 and December 31, 1997


NOTE 1 - ORGANIZATION AND HISTORY

     a. Organization

     Durwood, Inc. (the "Company") was recently incorporated under the laws
     of the State of Delaware on July 12, 1996.  The Company has not
     commenced active business operations and is considered a development
     stage company.  The proposed business and purpose of the Company's
     formation is to engage in the business of making and selling custom pool
     cues as collectors items as well as for playing pool and billiards; and
     to engage in and perform any and all acts and activities customary in
     connection therewith, or incident thereto.  The Company intends to use
     the proceeds of its proposed public offering, if successful, to purchase
     equipment for manufacturing custom pool cues and also wood and other raw
     materials for manufacture into finished goods inventory, and for initial
     working capital to begin active business operations upon completion of
     this offering.

     b. Accounting Method

     The Company's financial statements are prepared using the accrual method
     of accounting.  The Company has elected a December 31, year end.

     c. Cash and Cash Equivalents

     Cash equivalents include short-term, highly liquid investments with
     maturities of three months or less at the time of acquisition.

     d. Earnings (Loss) Per Share

     The computations of earnings per share of common stock are based on the
     weighted average number of shares outstanding at the date of the
     financial statements.

     e. Income Taxes

     The Company provides for income taxes based on income reported for
     financial reporting purposes.  At March 31, 1998, the Company has a loss
     carryover of $28,000 which expires in 2013.  The potential benefit of
     the tax loss carryover has been offset by a valuation allowance.

     f. Estimates

     The preparation of financial statements in conformity with generally
     accepted accounting principles requires management to make estimates and
     assumptions that affect the reported amounts of assets and liabilities
     and disclosure of contingent assets and liabilities at the date of the
     financial statements and the reported amounts of revenues and expenses
     during the reporting period.  Actual results could differ from those
     estimates.




<PAGE>
                            DURWOOD, INC.
                    (A Development Stage Company)
                  Notes to the Financial Statements
                 March 31, 1998 and December 31, 1997


     g. Unaudited Financial Statements

     The accompanying unaudited financial statements include all of the
     adjustments which in the opinion of management are necessary for a fair
     presentation.  All such adjustments are of a normal recurring nature.

NOTE 2 -   PROPERTY AND EQUIPMENT

     Property and equipment at March 31, 1998 and December 31, 1997 is
     summarized as follows:

                                        March 31,    December 31,
                                          1998           1997       

     Equipment                          $    5,439  $    5,439

     Less accumulated depreciation            (725)        453

          Total Property and Equipment  $    4,714  $    4,986

     Depreciation expense for the three months ended March 31, 1998 and for
     the year ended December 31, 1997  was $272 and $453, respectively; and
     is computed using the straight-line method over a 5 year life.

NOTE 3 - GOING CONCERN

     The Company's financial statements are prepared using generally accepted
     accounting principles applicable to a going concern which contemplates
     the realization of assets and liquidation of liabilities in the normal
     course of business.  The Company has not established revenues sufficient
     to cover its operating costs and allow it to continue as a going
     concern.  It is the intent of the Company's management to expand sales
     and marketing of its pool cues.

NOTE 4 - PUBLIC OFFERING

     The Company offered to the public, on a "best efforts, minimum -
     maximum" basis up to 200,000 shares of its common stock to the public at
     $0.50 per share.  The offering was terminated on April 21, 1997 when the
     Company received $51,750 and issued 103,500 shares of common stock.  The
     Company incurred costs of $12,112 which were offset against the proceeds
     of the offering.


<PAGE>
Item 2:  Management's Discussion & Analysis or Plan of Operations

     The Company was incorporated on July 12, 1996.  The Company
has not yet generated any revenues from operations and is
considered a development stage company.  To date, activities have
been limited to organizational matters and preparation and filing
of a registration statement to register a public offering of its
securities, pursuant to which the Company sold 103,500 shares of
common stock and raised gross proceeds of $51,750.  The offering
was completed in April, 1997.  The Company has no significant
assets other than assets acquired with offering proceeds and the
proceeds remaining from the offering.

     Management's plan of operation for the next twelve months is
to continue using the net proceeds to purchase various items of
equipment needed to turn out and finish the custom pool cues, and
supplies of wood and other raw materials from which to make the
cues.  The remaining portion of the proceeds is also being used
to pay rent and other operating expenses of the Company and
otherwise provide working capital for the operation of the
Company's business.  The net proceeds from the offering are the
sole anticipated source of funds other than any revenues
generated from operations, of which there is no assurance, and
the Company is totally dependent upon the offering proceeds for
the ability to conduct its business operations. 

     At this time, no assurances can be given with respect to the
length of time after commencement that it will be necessary to
fund operations from proceeds of this offering.  Management
believes that the proceeds of this offering will be sufficient to
cover the operating expenses of the Company for six months to a
year after commencement of operations, during which time
managment is hopeful that the company will begin generating
sufficient revenues from sales and operations to thereafter cover
ongoing expenses.  However, there is absolutely no assurance of
this, and if the Company is unable to generate sufficient
revenues from operations to cover expenses within such time
frame, it may have to seek additional debt or equity financing
for which it has no commitments.  In the event such funding is
not available on acceptable terms, the Company may have to reduce
or discontinue operations.  In the event the business is
unsuccessful, there is no assurance the Company could become
involved in any other business venture.  The Company presently
has no plans, commitments or arrangements with respect to any
other proposed business venture.  


<PAGE>
                   PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

     None.

Item 2.  Changes in Securities and Use of Proceeds

     (a)  None.

     (b)  None.

     (c)  See Part I, Item 1 (financial statements) and Item 2
          (management's discussion) for financial information and
          a narrative discussion regarding use of proceeds.

Item 3.  Defaults Upon Senior Securities

     None.

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

     None.

Item 5.  Other Information

     None.

Item 6.  Exhibits and Reports on Form 8-K

     None
<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.

                              Durwood, Inc.



Date:  May 18, 1998      by:   /s/ Darren Heiselt       
                                   Darren Heiselt, President