U. S. Securities and Exchange Commission
                             Washington, D. C. 20549


                                   FORM 10-QSB


[X]     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934

        For the quarterly period ended September 30, 2002

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

         For the transition period from                to
                                        --------------    ------------------


                               Commission File No.
                                   002-98748-D

                             FORMULA FOOTWEAR, INC.
                 (Name of Small Business Issuer in its Charter)


                 UTAH                                     33-0317292
      (State or Other Jurisdiction of            (I.R.S. Employer I.D. No.)
       incorporation or organization)


             4685 Highland Dr., Suite 202, Salt Lake City, UT 84117
                    (Address of Principal Executive Offices)

                    Issuer's Telephone Number: (801)278-9424

                          5525 South 900 East, Suite 110
                           Salt Lake City, Utah 84117
          (Former Name or Former Address, if changed since last Report)

     Indicate  by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Sections 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.

(1)  Yes  X    No              (2)  Yes  X     No
         ----     ----                  ----         ----
<PAGE>

APPLICABLE  ONLY TO  ISSUERS  INVOLVED  IN  BANKRUPTCY  PROCEEDINGS  DURING  THE
PRECEDING FIVE YEARS

     None, Not Applicable;

     APPLICABLE  ONLY  TO  CORPORATE  ISSUERS  Indicate  the  number  of  shares
outstanding  of each of the  Registrant's  classes  of common  stock,  as of the
latest practicable date:

                               September 30, 2002

                                    4,313,321

PART I - FINANCIAL INFORMATION

Item 1.Financial Statements.

The Financial Statements of the Registrant required to be filed with this 10-QSB
Quarterly Report were prepared by management and commence on the following page.
In the  opinion of  management,  the  Financial  Statements  fairly  present the
financial condition of the Registrant.

<PAGE>
<TABLE>
<CAPTION>


                             Formula Footwear, Inc.
                                 BALANCE SHEETS
                      September 30, 2002 and March 31, 2002



                                                            09/30/2002          03/31/2002
                                                          --------------        ----------
                                                           [Unaudited]
                                          ASSETS


<S>                                                      <C>                    <C>
Assets                                                   $             0        $        0

                                                          --------------        ----------
         Total Assets                                    $             0        $        0
                                                          ==============        ==========

                          LIABILITIES AND STOCKHOLDERS' [DEFICIT]

Current Liabilities:
     Loans from stockholders                             $        15,139       $    11,216
     Accounts Payable                                                176               232
     Accrued Interest                                              1,385               825
                                                          --------------        ----------
         Total Current Liabilities                                16,700            12,273

         Total Liabilities                                        16,700            12,273
                                                          --------------        ----------

Stockholders' [Deficit]:
     Common Stock, $.001 par value;
         authorized 50,000,000 shares; issued and
         outstanding, 4,267,288 shares                             4,314             4,314
     Paid-in Capital                                             352,207           352,207
     Accumulated Deficit                                        (373,221)         (351,823)
     Deficit Accumulated during development stage                                  (16,971)
                                                          --------------        ----------
         Total Stockholders'[Deficit]                            (16,700)          (12,273)

                                                          --------------        ----------
         Total Liabilities and Stockholders' [Deficit]   $             0        $        0
                                                          ==============        ==========


</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                         Formula Footwear, Inc.
                        STATEMENTS OF OPERATIONS
      For the Three and Six Month Periods Ended September 30, 2002 and 2001

                                              Three          Three         Six            Six           From the Beginning of
                                             Months         Months        Months         Months         Development Stage on
                                              Ended          Ended        Ended          Ended          April 1, 1989 through
                                           09/30/2002     09/30/2001    09/30/2002     09/30/2001         September 30, 2002
                                          -------------  -------------  ----------     ----------        ---------------------
                                           [Unaudited]    [Unaudited]   [Unaudited]    [Unaudited]            [Unaudited]
REVENUE

<S>                                      <C>            <C>             <C>            <C>                <C>
    Income                               $            0 $            0  $       0      $        0         $               0
                                          -------------  -------------  ---------      -----------        -----------------
NET REVENUE                                           0              0          0               0                         0

Operating Expenses
    Operating Expenses                            1,160            794      4,427           2,431                    21,398
                                          -------------  -------------  ---------      ----------         -----------------
Total Operating Expenses                          1,160            794      4,427           2,431                    21,398

                                          -------------  -------------  ---------      ----------         -----------------
Net Income Before Taxes                  $       (1,160) $        (794)    (4,427)         (2,431)
                                          =============  =============  =========      ==========         =================

Income/Franchise taxes                                0             0           0               0                         0

Net loss                                         (1,160)          (794)    (4,427)         (2,431)                  (21,398)

Loss Per Share                           $       (0.00) $       (0.00)  $   (0.00)     $    (0.00)       ===================
                                          =============  =============  =========      ==========

Weighted Average Shares Outstanding           4,313,321      4,267,288  4,313,321       4,267,288
                                          =============  =============  =========      ==========


</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                             Formula Footwear, Inc.
                            STATEMENTS OF CASH FLOWS
      For the Three and Six Month Periods Ended September 30, 2002 and 2001

                                              Three          Three         Six            Six           From the Beginning of
                                             Months         Months        Months         Months         Development Stage on
                                              Ended          Ended        Ended          Ended          April 1, 1989 through
                                           09/30/2002     09/30/2001    09/30/2002     09/30/2001         September 30, 2002
                                          -------------  -------------  ----------     ----------        ---------------------
                                           [Unaudited]    [Unaudited]   [Unaudited]    [Unaudited]           [Unaudited]
Cash Flows Used For Operating
Activities
-----------------------------------------


<S>                                        <C>             <C>            <C>           <C>                        <C>
  Net Loss                                 $      (1,160)  $       (794) $  (4,427)     $  (2,431)       $          (21,398)
  Adjustments to reconcile net loss to net
cash used in operating activities:
    Shares issued for forgiveness of debt              0              0          0              0                     1,160
    Increase/(Decrease) in accounts payable            0                       (56)             0                       176
    Increase/(Decrease) in accrued liabilities       280              0        560              0                     1,385
                                            ------------   ------------  ---------     -----------        --------------------
      Net Cash Used For Operating Activities        (880)          (794)    (3,923)        (2,431)                  (18,677)
                                            ============   ============  =========     ===========        ====================

Cash Flows Provided by Financing Activities
--------------------------------------------

      Proceeds from Shareholder loan                 880            794      3,923          2,431                    15,139

      Common Stock Issued for Cash                     0              0          0              0                     3,538

      Net Cash Provided by Financing Activities      880            794      3,923          2,431                    18,677

      Net Increase In Cash                             0              0          0              0                         0

      Beginning Cash Balance                           0              0          0              0                         0

      Ending Cash Balance                $             0 $            0          0              0                         0
                                            ============   ============  =========     ===========        ====================

  NOTE TO FINANCIAL  STATEMENTS:  Interim  financial  statements  reflect all
adjustments  which  are,  in the  opinion  of  management,  necessary  to a fair
statement of the results for the periods.  The March 31, 2002 balance  sheet has
been derived from the audited  financial  statements.  These  interim  financial
statements  conform with the requirements for interim  financial  statements and
consequently do not include all the disclosures  normally  required by generally
accepted accounting principles.

     The Company's  financial  statements are prepared using generally  accepted
accounting  principles  applicable  to a going concern  which  contemplates  the
realization  of asets and  liquidation  of  liabilities  in the normal course of
business.  However, the Company does not have significant cash or other material
assets, nor does it have an established  source of revenues  sufficient to cover
its operating  costs and to allow it to continue as a going  concern.  It is the
intent of the Company to seek a merger with an existing,  operating company. Int
the interim,  shareholders  of the Company have committed to meeting its minimal
operating  expenses.  The accompanying  financial  statements do not include any
adjustments  that might be  necessary  if the Company is unable to continue as a
going concern.
</TABLE>
<PAGE>

Item 2.Management's Discussion and Analysis or Plan of Operation.

Plan of Operation.

     The Company has not engaged in any material operations in the period ending
September 30, 2002, or since before  approximately  1989. The Company intends to
continue to seek out the acquisition of assets, property or business that may be
beneficial to the Company and its stockholders.

     The Company's only foreseeable cash requirements  during the next 12 months
will relate to  maintaining  the Company in good  standing in the State of Utah,
keeping its reports "current" with the Securities and Exchange Commission or the
payment of expenses  associated  with reviewing or  investigating  any potential
business  venture.  Management does not anticipate that the Company will have to
raise additional funds during the next 12 months,  however, if additional moneys
are needed,  they may be advanced by  management  or principal  stockholders  as
loans to the Company. Because the Company has not identified any such venture as
of the date of this Report,  it is  impossible  to predict the amont of any such
loan.  However,  any such loan will not exceed  $25,000  and will be on terms no
less favorable to the Company than would be available  from a commercial  lender
in an arm's length  transaction.  As of the date of this Report, the Company has
not begun seeking any acquisition.

Results of Operations.

     The  Company  has had no  operations  during  the  quarterly  period  ended
September  30,  2002,  or since on or  before  approximately  1989.  During  the
quarterly  period  covered by this Report,  the Company  received no revenue and
incurred expenses of $1,160, stemming from general and administrative expenses.

Liquidity

     At September 30, 2002, the Company had total current assets of $0 and total
liabilities of $16,700.

PART II - OTHER INFORMATION

Item 1.Legal Proceedings.

None; not applicable.

Item 2.Changes in Securities.

None; not applicable

Item 3.Defaults Upon Senior  Securities.

None; not applicable.

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

None; not applicable

Item 5.Other Information.

None; applicable

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

None; not applicable

(b)Reports on Form 8-K.

None; Not Applicable.


<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.

                                 FORMULA FOOTWEAR, INC.


Date: 11/11/02              /S/ HAROLD T.JENSON
                            Harold T.Jenson, Vice Presiden and Director


<PAGE>



                           CERTIFICATION PURSUANT TO
                            18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                 SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



     In connection  with the Quarterly  report of Formula  Footwear,  Inc., (the
"Company") on Form 10-QSB for the quarterly  period ended September 30, 2002, as
filed with the  Securities  and Exchange  Commission  on the date  hereof,  (the
"Report"),  I(We), Harold T. Jenson, Vice President and Director of the Company,
certify,  pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906
of the Sarbanes-Oxley Act of 2002, that:

     (1) The Report fully  complies  with the  requirements  of section 13(a) or
15(d) of the Securities Exchange Act of 1934, and

     (2)  The  information  contained  in the  Report  fairly  presents,  in all
material  respects,  the  financial  condition  and result of  operations of the
Company.




By/S/ Harold T. Jenson
Vice President and Director
November 11, 2002