SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB


(Mark One)

   [X]      Quarterly  report  under  Section  13 or  15(d)  of  the  Securities
            Exchange Act of 1934 for the quarterly period ended March 31, 2004

   [ ]      Transition report under Section 13 or 15(d) of the Exchange Act
            for the transition period from __________ to __________.


                        Commission File Number: 000-31451
                                    ---------

                            NOVA COMMUNICATIONS, INC.
                            ------------------------
        (Exact name of small business issuer as specified in its charter)



             NEVADA                                              95-4756822
             ------                                              ----------
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)



               370 AMAPOLA AVE. # 202, TORRANCE, CALIFORNIA 90501
               --------------------------------------------------
               (Address of principal executive office) (Zip Code)

                                 (310) 642-0200
                                ----------------
                           (Issuer's telephone number)




  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    XX                  No
                              --------                  --------

As of March 31, 2004 , the number of outstanding  shares of the issuer's  common
stock, $0.001 par value, was 304,931,468 shares.


          TRANSITIONAL SMALL BUSINESS DISCLOSURE FORMAT: Yes [ ] No [X]




                                        1
<PAGE>
                                TABLE OF CONTENTS

                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS ...............................................  3

         Consolidated Unaudited Balance Sheet for the three months ended
         March 31, 2004 and March 31, 2003...................................  3

         Consolidated Unaudited Statements of Operations for the
                  three months ended March 31, 2004 and March 31, 2003.......  4

         Consolidated Unaudited Statements of Cash Flows for the
                  three months ended March 31, 2004 and March 31, 2003.......  5

         Notes to Consolidated Financial Statements..........................  6


ITEM 2.  MANAGEMENT'S DISCUSSION & ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS ..............................................  9


ITEM 3.  CONTROLS AND PROCEDURES.............................................  9


                           PART II - OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8K..................................... 10


SIGNATURES................................................................... 10




























                                        2
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS.

                            NOVA COMMUNICATIONS LTD.
<TABLE>
<CAPTION>
                           Consolidated Balance Sheets
                             See accompanying notes.
                                                                              March 31,          December 31,
                                                                                2004                 2003
                                                                         -----------------    -----------------
                                      Assets
<S>                                                                       <C>                  <C>
Current assets:
   Cash                                                                   $           986      $        51,451
   Note receivable due within one year                                              9,775                9,557
   Current assets of discontinued operations                                       51,435               51,435
                                                                           --------------       --------------
     Total current assets                                                          62,196              112,443

Equipment, net                                                                      1,278                1,278

Equipment of discontinued operations, net                                         140,221              140,221

Other assets:
   Note receivable                                                                 15,695               15,317
   Advances receivables                                                           723,506              513,506
   Other assets of discontinue operations, net                                     62,811               62,811
                                                                           --------------       --------------
     Total other assets                                                           802,012              591,634
                                                                           --------------       --------------

                                                                          $     1,005,707      $       845,576
                                                                           ==============       ==============
                      Liabilities and Net Capital Deficiency

Current liabilities:
   Accounts payable                                                       $       165,348      $       159,637
   Payable to related parties                                                       5,477               11,593
   Accrued payroll and payroll related liabilities                                301,057              392,445
   Income taxes payable                                                             2,400                2,400
   Other accrued liabilities                                                       56,380               45,902
   Convertible notes payable                                                      490,000              490,000
   Current liabilities of discontinued operations                                 393,984              393,984
                                                                           --------------       --------------
     Total current liabilities                                                  1,414,646            1,495,961

Payable to related party                                                          440,232              264,232

Net capital deficiency:
   Preferred stock; no par value; authorized 10,000,000 shares                          -                    -
   Common stock; $.001 par value; authorized 500,000,000 shares; issued and
    outstanding 304,931,468 shares in 2004 (255,081,368 shares in 2003)           304,931              255,081
   Common stock to be issued                                                       15,000               15,000
   Additional paid in capital                                                  20,358,821           18,913,171
   Retained deficit                                                           (21,527,923)         (20,097,869)
                                                                           --------------       --------------
     Net capital deficiency                                                      (849,171)            (914,617)
                                                                           --------------       --------------

                                                                          $     1,005,707      $       845,576
                                                                           ==============       ==============
</TABLE>
                                       3
<PAGE>
                            NOVA COMMUNICATIONS LTD.
<TABLE>
<CAPTION>
                      Consolidated Statements of Operations
                                                                                Three months ended March 31
                                                                                 2004                2003
                                                                          ----------------    -----------------
<S>                                                                        <C>                 <C>
Revenues                                                                   $            -      $         7,724
Operating expenses                                                              1,420,254              417,531
                                                                            -------------       --------------
Net loss from operations                                                       (1,420,254)            (409,807)

Interest expense, net                                                             (9,800)              (18,125)
                                                                            -------------       --------------

Net income from continuing operations before provision for income taxes        (1,430,054)            (427,932)

Provision for income taxes - State of California                                        -                    -
                                                                            -------------       --------------

Net loss from continuing operations                                            (1,430,054)            (427,932)

Net income from discontinued operations                                                  -              27,805
                                                                            --------------      --------------


Net loss                                                                   $   (1,430,054)     $      (400,127)
                                                                            =============       ==============



Net income (loss) per common share:
   Continuing operations                                                   $        (.005)     $         (.009)
                                                                            =============       ==============
   Discontinued operations                                                 $            -      $          .001
                                                                            =============       ==============
</TABLE>













                                       4
<PAGE>
                            NOVA COMMUNICATIONS LTD.
<TABLE>
<CAPTION>

                      Consolidated Statements of Cash Flows


                                                                                Three months ended March 31
                                                                                 2003              2002
                                                                          ----------------   ------------------
<S>                                                                        <C>                  <C>
Cash flows from operating activities:
   Net loss from continuing operations                                     $   (1,430,054)      $  (427,932)
   Adjustment to reconcile net loss to net cash used in operating activities-
     Depreciation                                                                       -               354
     Shares issued in exchange for services                                     1,315,500           380,000
     Changes in assets and liabilities:
       Receivables                                                                      -            (1,132)
       Accounts payable                                                            (1,001)          (24,950)
       Accrued liabilities                                                         99,090            55,781
                                                                            -------------        ----------
                                                                                  (16,465)          (17,879)

Cash flows from discontinued operations                                                 -            22,461

Cash flows from investing activities:
   Principal repayments on notes receivable                                             -             1,403
   Advances paid                                                                 (210,000)                -
                                                                            -------------        ----------
                                                                                 (210,000)            1,403
Cash flows from financing activities:
   Advances received from related party                                           176,000                  -
   Net financing activities of discontinued operations                                  -            (5,881)
                                                                            -------------        ----------
                                                                                  176,000            (5,881)
                                                                            -------------        ----------

Net change in cash                                                                (50,465)              104

Cash at beginning of period                                                        51,451                78
                                                                            -------------        ----------

Cash at end of period                                                      $          986       $       182
                                                                            =============        ==========




Supplemental schedule of noncash financing activities:
   Common stock issued in exchange for accrued payroll                     $      180,000       $         -
                                                                            =============        ==========

   Common stock issued for long-term obligations to related parties        $            -       $   625,000
                                                                            =============        ==========
</TABLE>



                                       5
<PAGE>
                            NOVA COMMUNICATIONS LTD.

                   Consolidated Notes to Financial Statements
                                 March 31, 2004


1.       Summary of significant accounting policies

         Business: Nova Communications Ltd. (the "Company" or "Nova") is
         incorporated under the laws of the State of Nevada. The Company invests
         in and provides managerial assistance to developing companies.

         Basis of consolidation: The consolidated financial statements include
         the accounts of Nova and its 100% owned subsidiary Kadfield, Inc.
         ("Kadfield"). All intercompany accounts and transactions have been
         eliminated.

         On July 21, 2003 the Company decided to dispose of Kadfield. Kadfield
         has been accounted for as a discontinued operation and the results of
         operations have been excluded from continuing operations in the
         consolidated statements of operations for all periods presented.

         Interim reporting: The Company's year-end for accounting and tax
         purposes is December 31. In the opinion of Management, the accompanying
         consolidated financial statements as of March 31, 2004 and 2003 and for
         the three months then ended, consisting of only normal recurring
         adjustments, except as noted elsewhere in the notes to the consolidated
         financial statements, necessary to present fairly its financial
         position, results of its operations and cash flows. The results of
         operations for the three months ended March 31, 2004 and 2003 are not
         necessarily indicative of the results to be expected for the full year.

         Cash equivalents: For purposes of the statement of cash flows, the
         Company and its subsidiaries consider cash equivalents to be highly
         liquid instruments if, when purchased, their original due dates were
         within three months.

         Equipment: Equipment is carried at cost. Depreciation is computed using
         the straight-line method over the estimated useful lives of the
         depreciable assets, which range from five to fifteen years.

         Stock options and warrants: The Company uses a fair value based method
         of accounting for stock based compensation to employees.

         The Company also accounts for stock options and warrants issued to
         non-employees for services under the fair value method of accounting.

         Net loss per common share: Net loss per common share is computed by
         dividing net loss by the weighted average number of common shares
         outstanding during the period. The weighted average number of common
         stock shares outstanding was 289,111,138 for the three months ended
         March 31, 2004 (49,342,623 for the three months ended March 31, 2003).
         Common stock to be issued is not considered to be a common stock
         equivalent as the effect on net loss per common share would be
         anti-dilutive.



                                       6
<PAGE>
1.       Summary of significant accounting policies (continued)

         Significant risks and uncertainties: The process of preparing financial
         statements in conformity with generally accepted accounting principles
         requires the use of estimates and assumptions regarding certain types
         of assets, liabilities, revenues and expenses. Management of the
         Company has made certain estimates and assumptions regarding the
         collectability of notes receivable. Such estimates and assumptions
         primarily relate to unsettled transactions and events as of the date of
         the financial statements. Accordingly, upon settlement, actual results
         may differ from estimated amounts.

2.       Operations

         During 2003, the Company announced their intentions to divest of its
         investment in Kadfield, Inc. Also, the Company is currently negotiating
         with several companies in which to invest or acquire.

         The Company believes the above actions and along with other plans will
         allow them to continue operations and ultimately achieve profitability.
         Until then, the Company is dependent upon its ability to obtain
         additional capital and debt financing. The consolidated financial
         statements as of March 31, 2004 do not reflect adjustments relating to
         the recorded asset amounts, or the amounts of liabilities that would be
         necessary should the Company not be able to continue in existence.

3.       Advances receivable

         The Company has advanced funds to a company for cash flow purposes. The
         advances are unsecured, non-interest bearing, and due on demand.

4.       Convertible notes payable

         The notes payable are due one year from the date of borrowings plus
         interest at a rate of 8% per annum and are unsecured. The notes and any
         unpaid interest may be convertible into shares of common stock of the
         Company at a rate of 75% of the closing bid price of the Company's
         common stock on the date of conversion. The notes may be converted at
         the option of the Company, but not before six months, and at the option
         of the holder, but not before one year, from the date of the notes and
         only if certain events have occurred.

                                       7
<PAGE>
5.       Payable to related party

         The payable to related party is due to a company related to the
         president of the Company. The advances are unsecured, non-interest
         bearing, and due on demand however, this company has agreed not to
         demand repayment before June 2005.

6.       Preferred stock

         The Company's preferred stock may be voting or have other rights and
         preferences as determined from time to time by the Board of Directors.

7.       Common stock

         On January 21, 2004, the Board of Directors authorized the issuance of
         6,000,000 shares of common stock of the Company in exchange for
         $180,000 of accrued payroll. Management of the Company valued the
         shares issued at $.03 per share, the closing bid price of the Company's
         common stock on the date of issuance. Management of the Company
         estimated the value of the Company's shares granted after considering
         the historical trend of the trading prices for its common stock and the
         limited volume of shares being traded.

         During the three months ended March 31, 2004, the Company issued an
         aggregate of 27,350,000 shares of its common stock in exchange for
         consulting and management services aggregating $820,500. Management of
         the Company valued the shares issued at $.03 per share, the closing bid
         price of the Company's common stock on the date of issuance. Management
         of the Company estimated the value of the Company's shares granted
         after considering the historical trend of the trading prices for its
         common stock and the limited volume of shares being traded.

8.       Stock based compensation

         During the three months ended March 31, 2004, the Company issued
         16,000,000 shares of its common stock to its president and 500,000 to
         an employee as compensation for services aggregating $495,000.
         Management of the Company valued the shares issued at $.03 per share,
         the closing bid price of the Company's common stock on the date of
         issuance. Management of the Company estimated the value of the
         Company's shares granted after considering the historical trend of the
         trading prices for its common stock and the limited volume of shares
         being traded.











                                       8
<PAGE>
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS

Management's discussion and analysis should be read in conjunction with the
financial statements and the notes thereto.

RESULTS OF OPERATIONS
Three months ended March 31, 2004 compared to the three months ended March 31,
2003:

         On July 21, 2003 the Company decided to dispose of Kadfield. Kadfield
has been accounted for as a discontinued operation and the results of operations
have been excluded from continuing operations in the consolidated statements of
operations for all periods presented. During the three months ended March 31,
2004 has been devoted toward identifying business investment and acquisition
opportunities. The Company is currently providing advances to a business
opportunity.

         Revenues decrease by $7,724 for the three months ended March 31, 2004
from the three months ended March 31, 2003 because the Company has not provided
management services to outside business during 2004.

         Operating expenses of $1,420,254 incurred during the three months ended
March 31, 2004 increased $1,002,723 compared to operating expenses for the three
months ended March 31, 2003 primarily as a result of an increase in consulting
fees of $368,928 incurred to assist with equity financing and an increase in
officer's compensation of $657,000 authorized by the Board of Directors.

FINANCIAL POSITION & LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2004 compared to December 31, 2003:

         The Company's assets of $1,005,707 as of March 31, 2004 increased by
$160,131 from those as of December 31, 2003 primarily as a result of a decrease
in cash of $50,465 and advances paid to a business opportunity of $210,000.

         Payables to related parties increased $176,000 from December 31, 2003
to March 31, 2004 due to additional advances received during that period from
related parties.

ITEM 3. CONTROLS AND PROCEDURES

As of March 31. 204, the Company carried out an evaluation, under the
supervision and with the participation of the Company's management, including
the Company's Chief Executive Officer and President, of the effectiveness of the
design and operation of the Company's disclosure controls and procedures
pursuant to Rule 13a-14 of the  Securities Exchange Act of 1934.  Based upon
that eva1uation, these principal executive officers and principal financial
officer concluded that the Company's disclosure controls and procedures are
effective in timely alerting them to material information relating to the
Company, including its consolidated subsidiaries, required to be included in the
Company's periodic SEC filings. There have been no significant changes in
internal controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation.

                                       9
<PAGE>
                           PART II - OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8K

(a)              Exhibits.
                 --------

Exhibit
Number           Description of Document

2                Articles and  Agreement of Merger  Between Nova  Communications
                 Ltd.  and  First  Colonial  Ventures,  Ltd.  -  July  21,  1999
                 (Incorporated by reference)

3(3)(i)(1)       First Colonial Ventures, Ltd. Articles of Incorporation - March
                 25, 1985 (Incorporated by reference)

3(3)(i)(2)       First  Colonial   Ventures,   Ltd.  Amendment  to  Articles  of
                 Incorporation - August 12, 1985 (Incorporated by reference)

3(3)(i)(3)       First  Colonial   Ventures,   Ltd.  Amendment  to  Articles  of
                 Incorporation -September 3, 1985 (Incorporated by reference)

3(3)(i)(4)       First  Colonial   Ventures,   Ltd.  Amendment  to  Articles  of
                 Incorporation -February 3, 1992 (Incorporated by reference)

3(3)(i)(5)       Nova  Communications  Ltd Articles of  Incorporation - July 13.
                 1999 (Incorporated by reference)

3(3)(ii)(1)      Bylaws (Incorporated by reference)

31               Rule 13a-14(a)/15d-14(a) Certification

32               Section 1350 Certification

(b)              Reports on Form 8-K.
                 -------------------
                 No reports on Form 8-K were filed during the period covered by
                 this report.

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

Date: June 4, 2004               NOVA COMMUNICATIONS, INC.

                                 By: /s/ KENNETH D. OWEN
                                 --------------------------
                                 Kenneth D. Owen, President















































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