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 December 31, 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:

                               January 27, 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
                          [A Development Stage Company]
                                 BALANCE SHEETS

<S>                                                                  <C>                   <C>

                                                                           12/31/2002            3/31/2002
                                                                        -----------------     -----------------
                                                                          [Unaudited]
                                                    ASSETS

Assets                                                                $                0                     0

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

                                    LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities:
      Loans from stockholders                                         $           15,754    $           11,216
      Accounts Payable                                                               176                   232
      Accrued Interestpayable-stockholders                                         1,688                   825
                                                                        -----------------     -----------------
           Total Current Liabilities                                              17,618                12,273
                                                                        -----------------     -----------------
           Total Liabilities                                                      17,618                12,273
                                                                        -----------------     -----------------

Stockholders' Deficit:
      Common Stock, $.001 par value;
           authorized 50,000,000 shares; issued and
           outstanding, 4,313,321 shares                                           4,314                 4,314
      Paid-in Capital                                                            352,207               352,207
      Deficit accumulated prior to development stage                            (351,823)             (351,823)
      Deficit accumulated during the development stage                           (22,316)              (16,971)
                                                                        -----------------     -----------------
           Total Stockholders' Deficit                                           (17,618)              (12,273)

                                                                        -----------------     -----------------
           Total Liabilities and Stockholders' Deficit                $                0    $                0
                                                                        =================     =================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                             Formula Footwear, Inc.
                          [A Development Stage Company]
                             STATEMENTS OF OPERATIONS

                                                                                                  From the Beginning of
                                          Three Months    Three Months   Nine Months  Nine Months  Development Stage on
                                             Ended           Ended         Ended        Ended      April 1, 1989 through
                                           12/31/2002     12/31/2001     12/31/2002   12/31/2001   December 31, 2002
                                          -------------   ------------   ----------   ----------   -----------------

                                            [Unaudited]    [Unaudited]   [Unaudited]  [Unaudited]    [Unaudited]
<S>                                     <C>             <C>           <C>          <C>           <C>

REVENUE
     Income                             $            0  $           0 $          0 $          0  $                0
                                          -------------   ------------   ----------   ----------   -----------------
NET REVENUE                                          0              0            0            0                   0

Operating Expenses
     General and Administrative                    918          1,782        5,345        4,213              22,316

                                          -------------   ------------   ----------   ----------   -----------------
Total Operating Expenses                           918          1,782        5,345        4,213              22,316

                                          -------------   ------------   ----------   ----------   -----------------
Net Loss Before Taxes                   $         (918) $      (1,782)$     (5,345)$     (4,213) $          (22,316)
                                          -------------   ------------   ----------   ----------   -----------------

Income/Franchise taxes                               0              0            0            0

Net loss                                $         (918) $      (1,782)$     (5,345)$     (4,213) $          (22,316)
                                          =============   ============   ==========   ==========   =================
Loss Per Share                          $        (0.01) $       (0.01)$      (0.01)$      (0.01)
                                          =============   ============   ==========   ==========

Weighted Average Shares Outstanding          4,313,321      4,267,288    4,313,321    4,267,288
                                          =============   ============   ==========   ==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                             Formula Footwear, Inc.
                          [A Development Stage Company]
                             STATEMENTS OF CASH FLOWS

                                                                                                        From the Beginning of
                                              Three Months   Three Months  Nine Months    Nine Months    Development Stage on
                                                 Ended          Ended         Ended          Ended       April 1, 1989 through
                                              12/31/2002     12/31/2001     12/31/2002     12/31/2001    September 30, 2002
                                              ------------   ------------  -------------  -------------  ------------------

                                               [Unaudited]    [Unaudited]   [Unaudited]    [Unaudited]      [Unaudited]
<S>                                         <C>            <C>           <C>            <C>              <C>

Cash Flows Used For Operating Activities
----------------------------------------
  Net Loss                                  $        (918) $      (1,782)$       (5,345)$       (4,213)            (22,316)
  Adjustments to reconcile net loss to net cash
    used in operating activities:
    Shares issued for services                          0              0              0              0               1,160
    Increase/(Decrease) in accounts payable             0              0            (56)             0                 176
    Increase/(Decrease) in accrued liabilities        280              0            863              0               1,688
                                              ------------   ------------  -------------  -------------  ------------------

      Net Cash Used For Operating Activities         (638)        (1,782)        (4,538)        (4,213)            (19,292)
                                              ============   ============  =============  =============  ==================

Cash Flows Provided by Investing Activities             0              0              0              0                   0
-------------------------------------------   ------------   ------------  -------------  -------------  ------------------

Cash Flows Provided by Financing Activities
-------------------------------------------
    Proceeds from shareholder loan                    638          1,782          4,538          4,213              15,754
     Common stock issued for cash                       0              0              0              0               3,538
                                              ------------   ------------  -------------  -------------  ------------------

      Net Cash Provided by Financing Activities       638          1,782          4,538          4,213              19,292

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
                                              ------------   ------------  -------------  -------------  ------------------
Cash Paid For:
-------------
    Interest                               $            0 $            0 $            0 $            0 $                 0
    Income Taxes                           $            0 $            0 $            0 $            0 $                 0

Schedule of Non Cash Financing Activities
-----------------------------------------
     Stock Issued For Services             $            0 $            0 $            0 $            0 $             1,160
                                              ============   ============  =============  =============  ==================

</TABLE>
<PAGE>

                             FORMULA FOOTWEAR, INC.
                         (A Development Stage Company)
                       Notes to the Financial Statements
                      December 31, 2002 and March 31, 2002

NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION

     The  accompanying   unaudited  condensed  financial  statements  have  been
prepared by the Company  pursuant to the rules and regulations of the Securities
and Exchange  Commission.  Certain information and footnote disclosures normally
included  in  financial   statements  prepared  in  accordance  with  accounting
principles  generally  accepted  in the  United  States  of  America  have  been
condensed  or  omitted  in  accordance  with  such  rules and  regulations.  The
information  furnished in the interim  condensed  financial  statements  include
normal recurring adjustments and reflects all adjustments, which, in the opinion
of  management,  are  necessary  for  a  fair  presentation  of  such  financial
statements.   Although  management  believes  the  disclusures  and  information
presented are adequate to make the information  not misleading,  it is suggested
that these interim  condensed  financial  statements be read in conjunction with
the  Company's  most  recent  audited  financial  statements  and notes  thereto
included in its March 31, 2002 Annual  Report on Form 10KSB.  Operating  results
for the nine months ended  December 31, 2002 are not  necessarily  indicative of
the results that may be expected for the year ended March 31, 2003.

NOTE 2 - GOING CONCERN

     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.  the Company  has not yet  established  an ongoing  source of revenues
sufficient  to cover its  operating  costs and allow it to  continue  as a going
concern.  The ability of the Company to continue as a going concern is dependent
on the Company  obtaining  adequate  capital to fund  operating  losses until it
becomes  profitable.  If the Conmpany is unable to obtain adequate  capital,  it
could be forced to cease development of operations.

     In order to  continue  as a going  concern,  develop a  reliable  source of
revenues,  and achieve a profitable level of operations,  the Company will need,
among other things,  additional capital resources.  Management plans to continue
as a  going  concern  include  obtaining  loans  from  management  of  principal
stockholders  as necessary.  However,  management  cannot provide any assurances
that the Company will be successful in accomplishing any of its plans.

     The ability of the Company to continue as a going concern is dependent upon
its ability to  successfully  accomplish  the plans  described in the  preceding
paragraph and eventually secure other sources of financing and attain profitable
operations. The accompanying financial statements do not include any adjustments
that might be necessary if the Company is unable to continue as a goind concern.


<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
December  31, 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
December   31,  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 $918, stemming from general and administrative expenses.

Liquidity

     At December 31, 2002,  the Company had total current assets of $0 and total
current liabilities of $17,618.

Controls and Procedures.

     An  evaluation   was  performed   under  the   supervision   and  with  the
participation  of  the  Company's   management,   including  the  President  and
Treasurer,  regarding  the  effectiveness  of the  design and  operation  of the
Company's  disclosure  controls and procedures  within 90 days before the filing
date  of  this  quarterly  report.  Based  on  that  evaluation,  the  Company's
management,  including the President and Treasurer, concluded that the Company's
disclosure   controls  and  procedures  were  effective.   There  have  been  no
significant  changes in the Company's internal controls or in other factors that
could significantly affect internal controls subsequent to their evaluation.


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:  2/3/03               By/S/ Harold T. Jenson
                            Harold T. Jenson, Vice President and Director



Date:  2/3/03               By/S/ Jason Jenson
                            Jason Jenson, Secretary/Treasurer and Director
<PAGE>

                           CERTIFICATION PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Harold T. Jenson, Vice President and Director of Formula Footwear, Inc.,
certify that:

     1. I have  reviewed  this  Quarterly  Report  on  Form  10-QSB  of  Formula
Footwear, Inc.;

     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  officer 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 we 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 officer and I have disclosed, based on
our most recent evaluation, to the Registrant's auditors and the audit committee
of  Registrant's  board of  directors  (or  persons  performing  the  equivalent
function);

          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  officer and I have indicated in this
Quarterly  Report  whether or not 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.



Dated:  2/3/03                       Signature:By/S/ Harold T. Jenson
                                               ---------------------------
                                               Harold T. Jenson
                                               Vice President and Director
<PAGE>
                   CERTIFICATION PURSUANT TO
         SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

     I, Jason  Jenson,  Secretary/Treasurer  and  Director of Formula  Footwear,
Inc., certify that:

     1. I have  reviewed  this  Quarterly  Report  on  Form  10-QSB  of  Formula
Footwear, Inc.;

     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  officer 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 we 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 officer and I have disclosed, based on
our most recent evaluation, to the Registrant's auditors and the audit committee
of  Registrant's  board of  directors  (or  persons  performing  the  equivalent
function);

          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  officer and I have indicated in this
Quarterly  Report  whether or not 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.



Dated:  2/3/03                       Signature:By/S/Jason Jenson
                                               ---------------------
                                               Jason Jenson
                                               Secretary/Treasurer 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  December 31, 2002, as
filed with the  Securities  and Exchange  Commission  on the date  hereof,  (the
"Report"),  I(We),  Harold T.  Jenson,  Vice  President  and  Director and Jason
Jenson, Secretary/Treasurer 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 _
Harold T. Jenson
Vice President and Director

Dated this 3rd day of February, 2003



By/S/ Jason Jenson       _
Jason Jenson
Secretary/Treasurer and Director

Dates this 3rd day of February, 2003