SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB


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

         For the quarterly period ended         July 31, 2003
         --------------------------------------------------------

                                                     OR

                           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         0-17263
         --------------------------------------



                             CHAMPIONS SPORTS, INC.
                             ----------------------
             (Exact name of registrant as specified in its charter)


                               Delaware 52-1401755
                               -------------------
                (State or other jurisdiction of (I.R.S. Employer
                        organization) Identification No.)

                Suite 214, 2420 Wilson Blvd., Arlington VA 22201
                ------------------------------------------------
                    (Address of principal executive offices)
                                   (Zip code)

                                 (703) 526-0400
                                 --------------
              (Registrant's telephone number, including area code)

     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 12, 2003 the Registrant had a total of 8,514,459  shares of
common stock outstanding.


<PAGE>



2






                             CHAMPIONS SPORTS, Inc.
                                   FORM 10-QSB

                                      INDEX

                                                                       Page

Part I.  Financial Information

                  Item 1.  Financial Statements

                  Consolidated Balance Sheets as of
                    July 31, 2003(unaudited) and
                    April 30, 2003                                       3

                  Consolidated Statements of Operations:
                    Three months ended
                    July 31, 2003, and  July 31, 2002,
                      (unaudited)                                        4

                  Consolidated Statements of Cash Flows:
                    Three months ended July 31, 2003, and
                    July 31,2002 (unaudited)                             5

                  Notes to Consolidated Financial Statements             6

                  Item 2.  Management's Discussions and
                                    Analysis of Financial Condition
                                    and Results of Operations            7

                  Item 4.  Controls and Prodedures                       9

Part II. Other Information and Signatures

                  Item 4.  Submission of Matters to a Vote
                                    of Security Holders                 10

                  Item 6.  Exhibits and Reports on Form 8-K             10

                  Signatures                                            11










                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                           Consolidated Balance Sheets
                                     Assets
<TABLE>
<CAPTION>

                                                              July 31, 2003  April 30, 2003
                                                              -----------------------------
<S>                                                          <C>            <C>

Current assets
   Cash and cash equivalents .............................   $    167,359    $    195,101
   Accounts receivable - trade ...........................           --              --
   Inventories ...........................................         26,929          23,750
   Prepaid expenses ......................................         10,276          10,836
                                                             ------------    ------------

Total current assets
                                                                  204,564         229,687

Property and equipment
   Furniture and equipment                                        589,437         586,506
   Leasehold improvements
                                                                  584,772         584,772
                                                             ------------    ------------
                                                                1,174,209       1,171,278
Accumulated depreciation and amortization ................       (936,956)       (924,851)
                                                             ------------    ------------
                                                                  237,253         246,427

Other assets
   Deposits ..............................................         11,052          11,052
                                                             ------------    ------------
Total assets .............................................   $    452,869    $    487,166
                                                             ============    ============


                      Liabilities and Stockholders' Equity

Current liabilities
   Accounts payable ......................................   $     65,563    $     65,246
   Dividend payable on preferred stock ...................        575,192         575,192
   Other accrued expenses ................................         63,831          49,280
   Deferred revenue ......................................           --              --
   Current portion of deferred lease concession ..........          4,363           3,322
                                                             ------------    ------------

   Total current liabilities .............................        708,949         693,040
                                                             ------------    ------------


Capital lease obligation, net of current portion .........           --              --
Deferred lease concession, net of current portion ........          1,017           3,875
                                                             ------------    ------------

   Total liabilities
                                                                  709,966         696,915
                                                             ------------    ------------


Stockholders' equity
   Preferred stock
     Series A, 12% Convertible Cumulative; $10
par value; preferred as to dividends and liquidation;
56,075 shares authorized and 53,125 shares issued and
     outstanding for July 31 and April 30, 2002 ..........        531,250         531,250
   Common stock, par value $.001 per share,50,000,000
     shares authorized and 8,514,459 shares
     issued and outstanding for July 31 and
April 30, 2002 ...........................................          8,514           8,514
   Additional paid-in capital
                                                                5,397,598       5,397,598
   Accumulated deficit ...................................     (6,194,459)     (6,147,111)
                                                             ------------    ------------


   Total stockholders' equity ............................       (257,097)       (209,749)
                                                             ------------    ------------


Total liabilities and stockholders' equity ...............   $    452,869    $    487,166
                                                             ============    ============

See notes to consolidated financial statements
</TABLE>


<PAGE>








                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                      Consolidated Statements of Operations

                                                           July 31,
                                                        2003         2002
                                                        ----         ----

Revenue
  Food and beverage .............................   $ 532,647    $ 507,115
  Merchandise, memorabilia, and consulting fees .       7,163        8,133
  Interest income ...............................         104        1,180
  Other income ..................................       3,281        1,654
                                                    ---------    ---------
                                                      543,195      518,082


Costs and expenses
  Cost of food and beverage sales\ ..............     159,052      120,513
  Cost of merchandise and memorabilia ...........       7,562       21,897
  Restaurant payroll and related costs ..........     179,402      181,347
  Restaurant occupancy costs ....................      67,366       72,402
  Other restaurant costs ........................     100,127       87,066
  General and administrative ....................      64,929       98,183
  Depreciation and amortization .................      12,105       12,105
  Interest ......................................        --             50
                                                      590,543      593,563
                                                    ---------    ---------


Operating income (loss) before income tax expense     (47,348)     (75,481)

Income tax expense ..............................        --           --


Net loss ........................................     (47,348)     (75,481)

Less preferred stock dividends ..................     (15,938)     (15,938)
                                                    ---------    ---------


Net income (loss) available to common
  stockholders ..................................   $ (63,286)   $ (91,419)
                                                    =========    =========


Basic earnings (loss) per share .................   $   (0.01)   $   (0.01)
                                                    =========    =========


Earnings (loss) per common share - assuming
  dilution ......................................   $   (0.01)   $   (0.01)
                                                    =========    =========

See notes to consolidated financial statements







<PAGE>



                     CHAMPIONS SPORTS, INC. AND SUBSIDIARIES
                Increase (Decrease) in Cash and Cash Equivalents
                       For the three months ended July 31

                                                              2003         2002
Cash flows from operating activities:
  Net loss ...........................................   $ (47,348)   $ (75,481)
  Adjustments to reconcile net income to net
  cash provided (used) by operating activities:
   Depreciation and amortization .....................      12,104       12,104
   Changes in assets and liabilities:
     Accounts receivable .............................        --             54
     Inventories .....................................      (3,179)      (3,300)
     Prepaid expenses ................................         560        1,297
     Accounts payable ................................         317       48,436
     Other accrued expenses ..........................      14,551        6,531
     Deferred revenues ...............................        --        (35,340)
     Deferred lease concessions ......................      (1,817)      (1,090)
Net cash provided (used) by  operating activities ....     (24,812)     (46,789)

Cash flows from investing activities:
    Stock subscriptions ..............................       5,000
    Purrchases of property and equipment .............      (2,930)      (5,298)
Net cash (used) by investing activities ..............      (2,930)        (298)

Cash flows from financing activities:
   Principal payments on capital lease ...............        --         (1,929)

Net increase (decrease) in cash and
  cash equivalents ...................................     (27,742)     (49,016)

Cash and cash equivalents at beginning of year .......     195,101      449,282
Cash and cash equivalents at July 31 .................   $ 167,359    $ 400,266

Supplemental disclosures of cash flow information:
   Cash paid during the year for interest ............   $   --              50
                                                                      ---------

See notes to consolidated financial statements






<PAGE>












                             CHAMPIONS SPORTS, INC.

                   Notes to Consolidated Financial Statements

                                  July 31, 2003

Summarized Financial Information

Company or group of companies for which report is filed:

CHAMPIONS Sports, Inc. and Subsidiaries

     The  consolidated  balance  sheet as of July  31,  2003,  the  consolidated
statements of operations and the  consolidated  statements of cash flows for the
three  months  ended July 31, 2003 and July 31,  2002 have been  prepared by the
company,  without audit. In the opinion of management,  all  adjustments  (which
include  only normal  recurring  adjustments)  necessary  to present  fairly the
financial  position,  results of operations and changes in cash flow at July 31,
2003 and for all periods presented have been made.

     Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting  principles
have been omitted. It is suggested that these consolidated  financial statements
be read in conjunction with the financial  statements and notes thereto included
in the Company's  10-KSB as of April 30, 2003. The results of operations for the
period  ended July 31,  2003 are not  necessarily  indicative  of the  operating
results for the full year.

     The  Company's  independent  auditor has  expressed  substantial  doubt the
Company can continue as a going  concern,  as of April 30, 2003.  The Company is
facing  a  most  severe  liquidity  problem  and  has  reduced  it  general  and
administrative  expense to conserve  cash.  The Company  continues to review and
evaluate its operations and priorities.  The Company is actively pursuing merger
or  acquisition  candidates to meet its liquidity  needs.  There is no assurance
that the  Company  will be able to  structure a merger or  acquisition  on terms
satisfactory to the Company


<PAGE>




     Item 2.  Managements  Discussion  and Analysis of Financial  Condition  and
Results of Operations

Results of Operation

     For the three  months  ended  July 31,  2003,  the  Company's  net loss was
$47,348 and the net loss available to common  shareholders was $63,286,  ($0.01)
per common share.  The Company's'  total assets decreased by $34,297 to $452,869
from $487,166 at April 30, 2003.

     For the three  months  ended  July 31,  2002,  the  Company's  net loss was
$75,481, and the net loss available for common shareholders was $91,419, ($0.01)
per common share.  The Company's  total assets  decreased by $53,874 to $731,815
from $785,689 at April 30, 2002.


Revenues

     The Company's  total revenues were $543,195 for the three months ended July
31, 2003 versus  $518,082 for the  three-month  period  ended July 31, 2002,  an
increase of $25,113 or 4.8%. By  component,  food and beverage  sales  increased
5.0%  from the  previous  year.  This  increase  in food and  beverage  sales is
attributed  to an increase  in customer  volume.  Merchandise,  memorabilia  and
consulting  revenues  were  $7,163  for the three  months  ended  July 31,  2003
compared to $8,133 for the three months ended July 31, 2002 Interest  income was
less than 1.0% of the Company's total revenue for both comparable periods. Other
income also  represented  less than 1.0% of total  revenues for the three months
ended July 31, 2003 and 2002.

Expenses

     Cost of food and  beverage  was 29.9% and  23.8% of  related  sales for the
three months ended July 31, 2003 and 2002. This increase is attributed to higher
wholesasle  prices, as there was no increases in selling prices during the three
month period.  Cost of merchandise  and  memorabilia  sales for the three months
ended July 31,  2003 was $7,562  compared  to  $21,897  in the  preceding  year.
Restaurant  payroll and related  costs were 33.7% of related  food and  beverage
sales for the three  months  ended July 31, 2003 and 35.8% for the three  months
ended July 31, 2002.  Restaurant  occupancy  costs were $67,366 or 12.6% of food
and  beverage  sales  compared to $72,402 or 14.3% of related  sales  during the
three months ended July 31, 2002. This decrease in occupancy costs is attributed
to the  percentage  paid to the  landlord in common area  charges and base rent.
Other  restaurant  costs were 18.8% of related food and  beverage  sales for the
three months ended July 31, 2003  compared to 17.7% of related  sales during the
three  months ended July 31, 2002.  General and  administrative  expense for the
Company's  corporate  office was 12.0% of the Company's  total  revenues for the
three  months ended July 31, 2003  compared to 18.9 % of total  revenues for the
three months ended July  31,2002.  Depreciation  and  amortization  expense were
constant at  approximately  2.2% of the  Company's  total  revenues  during each
comparable period.


Liquidity and Capital Resources

     The Company's  cash  position as of July 31, 2003 was $167,359  compared to
$195,101 on April 30, 2003, a decrease of $27,742.  For the three month  period,
the Company's operations used $24,812 in cash in excess of revenues. The Company
purchased  equipment for it San Antonio location for $2,930. The Company met its
liquidity  needs during the period from its cash reserves and cash flow provided
from its San Antonio location.

     The Company's  cash  position as of July 31, 2002 was $400,266  compared to
$449,282 on April 30, 2002, a decrease of $49,016.  For the three month  period,
the Company's operations used $46,789 in cash in excess of revenues. The Company
received  $5,000  from  a  common  share  subscription.  The  Company  purchased
equipment for its restaurant in San Antonio  totaling $5,298 and finished paying
for a capital lease of $1,929.  The Company met its  liquidity  needs during the
period from its  revenues,  cash  reserves and cash flow  provided  from its San
Antonio location.

     The Company's working capital was a negative $504,385 on July 31 2003 and a
negative $463,353 on April 30, 2003.

     Stockholder's  equity was a negative  $257,097 as of July 31, 2003 compared
to a negative $209,749 as of April 30, 2003.


Other

     The  Company's  independent  auditor has  expressed  substantial  doubt the
Company  can  continue  as a going  concern.  The  Company  is  facing  a severe
liquidity  problem  and has  reduced it general  and  administrative  expense to
conserve cash.  The Company  continues to review and evaluate its operations and
priorities. The Company is actively pursuing merger or acquisition candidates to
meet its liquidity needs. There is no assurance that the Company will be able to
structure a merger or acquisition on terms satisfactory to the Company.


This document contains "forward-looking statements" (within the meaning of the
Private Securities Litigation Act of 1995) that inherently involve risk and
uncertainties. The Company's actual results could differ materially from those
anticipated in the forward-looking statements as a result of unforeseen external
factors. These factors may include, but are not limited to, changes in general
economic conditions, the ongoing threat of terrorism, customer acceptance of
products offered and other general competitive factors, and the ability to have
access to financing sources on reasonable terms. Readers are cautioned not to
place undue reliance on these forward-looking statements, which reflect
management's analysis, judgment, belief or expectation only as of the date
hereof.






Item 4.     CONTROLS AND PROCEDURES
     Disclosure  controls are procedures that are designed with the objective of
ensuring that  information  required to be disclosed in Company's  reports under
the Securities  Exchange Act of 1934,  such as this Form 10Q-SB,  is reported in
accordance  with the  Securities  and Exchange  Commission's  rules.  Disclosure
controls are also designed with the objective of ensuring that such  information
is accumulated  and  communicated  to management,  including the Chief Executive
Officer and Chief  Financial  Officer as appropriate  to allow timely  decisions
regarding required disclosure.

     Within the 90 days prior to the date of this  report,  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 Chief
Financial  Officer,  of the  effectiveness  of the design and  operation  of the
Company's disclosure controls and procedures pursuant to the Securities Exchange
Act Rule 13a-14.  Based upon that  evaluation,  the Chief Executive  Officer and
Chief 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
in the Company's periodic SEC filings.  There were no significant changes in the
Company's internal controls or in other factors that could significantly  affect
these controls subsequent to the date of their evaluation.

     Certifications  of the Chief Executive  Officer and Chief Financial Officer
regarding,  among other items,  disclosure  controls and procedures are included
immediately after the signature section of this Form 10Q-SB.

Part II.   Other Information


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

         None




Item 6.  Exhibits and Reports on Form 8-K

         None.


<PAGE>








                                   SIGNATURES

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

                                    CHAMPIONS Sports, Inc.




                                    /s/ James Martell
                                    -----------------
                                    James Martell
                                    Chairman, President and
                                    Chief Executive Officer



                                    /s/ James E. McCollam
                                    ---------------------
                                    James E. McCollam
                                    Corporate Secretary, Chief Accounting
                                    Officer and Controller


September 12 2003


<PAGE>



                    CERTIFICATION OF CHIEF EXECUTIVE OFFICER

                            Section 302 Certification

I, JAMES MARTELL, certify that:

     (1) I have  reviewed  this  quarterly  report on Form  10Q-SB of  CHAMPIONS
SPORTS, INC., a Delaware corporation (the "registrant");

     (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,  in light of the  circumstances  under which such
statements  were 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 periods presented in this quarterly report;

     (4) The registrant's  other  certifying  officers and I are 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) The registrant's other certifying officers and I have disclosed,  based
on our most  recent  evaluation,  to the  registrant's  auditors  and the  audit
committee of the  registrant's  board of directors  (or persons  performing  the
equivalent functions):

(a)  all  significant  deficiencies  in the  design  or  operation  of  internal
     controls which could adversely affect the  registrant's  ability to record,
     process,  summarize and report  financial data and have  identified for the
     registrant's auditors any material weaknesses in internal controls; and

(b)  any fraud,  whether or not  material,  that  involves  management  or other
     employees  who  have  a  significant  role  in  the  registrant's  internal
     controls; and

     (6) The registrant's other certifying officers and I have indicated in this
quarterly report whether there were significant  changes in internal controls or
in other factors that could significantly affect internal controls subsequent to
the date of our most recent  evaluation,  including any corrective  actions with
regard to significant deficiencies and material weaknesses.


Date:  September 12, 2003

                                             By: /s/ JAMES MARTELL
                                                 -----------------------
                                                 JAMES MARTELL
                                                 Chief Executive Officer




<page>


                    CERTIFICATION OF CHIEF FINANCIAL OFFICER

                            Section 302 Certification

I, JAMES E. MCCOLLAM, certify that:

     (1) I have  reviewed  this  quarterly  report on Form  10Q-SB of  CHAMPIONS
SPORTS, INC., a Delaware corporation (the "registrant");


     (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,  in light of the  circumstances  under which such
statements  were 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 periods presented in this quarterly report;

     (4) The registrant's  other  certifying  officers and I are 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) The registrant's other certifying officers and I have disclosed,  based
on our most  recent  evaluation,  to the  registrant's  auditors  and the  audit
committee of the  registrant's  board of directors  (or persons  performing  the
equivalent functions):

(a)  all  significant  deficiencies  in the  design  or  operation  of  internal
     controls which could adversely affect the  registrant's  ability to record,
     process,  summarize and report  financial data and have  identified for the
     registrant's auditors any material weaknesses in internal controls; and

(b)  any fraud,  whether or not  material,  that  involves  management  or other
     employees  who  have  a  significant  role  in  the  registrant's  internal
     controls; and

     (6) The registrant's other certifying officers and I have indicated in this
quarterly report whether there were significant  changes in internal controls or
in other factors that could significantly affect internal controls subsequent to
the date of our most recent  evaluation,  including any corrective  actions with
regard to significant deficiencies and material weaknesses.

Date:  September 12, 2003

                                           By: /s/ JAMES E. McCOLLAM
                                              -------------------------
                                               JAMES E. McCOLLAM
                                               Chief Financial Officer