U.S. SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, D.C.  20549

                             FORM 10-QSB

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

     FOR THE QUARTERLY PERIOD ENDED:  June 30, 2004

                                  OR

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

                  COMMISSION FILE NUMBER:  333-83125

                     FIRST GROWTH INVESTORS, INC.
        (Exact name of registrant as specified in its charter)


           NEVADA                                   87-0569467
     (State or other jurisdiction                 (I.R.S. Employer
     of incorporation or organization)            Identification No.)


           2508 South 1300 East, Salt Lake City, Utah 84106
               (Address of principal executive offices)

                            (801) 466-7808
         (Registrant's telephone number, including area code)


     (Former name, former address and former fiscal year, if changed since
last report)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was
required to file such report(s), and (2) has been subject to such filing
requirements for the past 90 days.               YES [X]  NO [  ]

The number of $.001 par value common shares outstanding at June 30, 2004:
2,000,000

<PAGE>

                    PART I - FINANCIAL INFORMATION


ITEM 1.   FINANCIAL STATEMENTS

     See attached.

<PAGE>












                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                 UNAUDITED CONDENSED FINANCIAL STATEMENTS

                               JUNE 30, 2004






















 <PAGE>




                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]




                                 CONTENTS

                                                                     PAGE

        -    Unaudited Condensed Balance Sheets,
              June 30, 2004 and December 31, 2003                       2


        -    Unaudited Condensed Statements of Operations,
              for the three and six months ended June 30, 2004
              and 2003 and from inception on September 9,
              1997 through June 30, 2004                                3


        -    Unaudited Condensed Statements of Cash Flows,
              for the six months ended June 30, 2004
              and 2003 and from inception on September 9,
              1997 through June 30, 2004                                4


        -    Notes to Unaudited Condensed Financial Statements      5 - 9



<PAGE>

                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

                    UNAUDITED CONDENSED BALANCE SHEETS


                                  ASSETS

                                           June 30,   December 31,
                                             2004         2003
                                         ___________  ___________
CURRENT ASSETS:
  Cash                                    $        -   $    3,503
                                         ___________  ___________
        Total Current Assets                       -        3,503
                                         ___________  ___________
                                          $        -   $    3,503
                                         ___________  ___________

              LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


CURRENT LIABILITIES:
  Accounts payable                        $      130   $      785
  Accrued interest - related party             5,548        4,728
  Advances from related party                 17,773       16,450
                                         ___________  ___________
        Total Current Liabilities             23,451       21,963
                                         ___________  ___________

STOCKHOLDERS' EQUITY (DEFICIT):
  Preferred stock, $.001 par value,
   1,000,000 shares authorized,
   no shares issued and outstanding                -            -
  Common stock, $.001 par value,
   24,000,000 shares authorized,
   2,000,000 shares issued and
   outstanding                                 2,000        2,000
  Capital in excess of par value              47,362       47,362
  Deficit accumulated during the
    development stage                        (72,813)     (67,822)
                                         ___________  ___________
        Total Stockholders'
         Equity (Deficit)                    (23,451)     (18,460)
                                         ___________  ___________
                                          $        -   $    3,503
                                         ___________  ___________





Note: The balance sheet at December 31, 2003 was taken from the audited
   financial statements at that date and condensed.


 The accompanying notes are an integral part of these unaudited condensed
                           financial statements.

                                    -2-

<PAGE>

                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

               UNAUDITED CONDENSED STATEMENTS OF OPERATIONS

                            For the Three     For the Six    From Inception
                             Months Ended     Months Ended   on September 9,
                               June 30,         June 30,      1997, Through
                           _______________   ______________      June 30,
                             2004    2003     2004    2003         2004
                            _______  _______  _______  _______   ___________
REVENUE                     $     - $      - $      - $      - $           -

EXPENSES:
  General and administrative  3,391      935    4,171    3,680        10,826
                            _______  _______  _______  _______   ___________
LOSS BEFORE OTHER INCOME
 (EXPENSE)                   (3,391)    (935)  (4,171)  (3,680)      (10,826)

OTHER INCOME (EXPENSE):
  Interest Expense             (410)    (410)    (820)    (816)       (6,731)
                            _______  _______  _______  _______   ___________
LOSS BEFORE INCOME TAXES     (3,801)  (1,345)  (4,991)  (4,496)      (17,557)

CURRENT TAX EXPENSE               -        -        -        -             -

DEFERRED TAX EXPENSE              -        -        -        -             -
                            _______  _______  _______  _______   ___________
LOSS FROM CONTINUING
OPERATIONS                   (3,801)  (1,345)  (4,991)  (4,496)      (17,557)
                            _______  _______  _______  _______   ___________
DISCONTINUED OPERATIONS:
  Loss from operations of
   discontinued wine
   investment business (net
   of $0 in income taxes)         -        -        -        -       (54,506)
  Gain (loss) on disposal
   of discontinued wine
   investment business
   operations (net of $0 in
   income taxes)                  -        -        -        -             -
                            _______  _______  _______  _______   ___________
LOSS FROM DISCONTINUED
OPERATIONS                        -        -        -        -       (54,506)
                            _______  _______  _______  _______   ___________
CUMULATIVE EFFECT OF CHANGE
 IN ACCOUNTING PRINCIPLE          -        -        -        -          (750)
                            _______  _______  _______  _______   ___________
NET LOSS                    $(3,801) $(1,345) $(4,991) $(4,496)  $   (72,813)
                            _______  _______  _______  _______   ___________
LOSS PER COMMON SHARE:
  Continuing operations        (.00)    (.00)    (.00)    (.00)         (.01)
  Discontinued operations         -        -        -        -          (.02)
  Gain (loss) on disposal of
   discontinued operations        -        -        -        -             -
  Cumulative effect of change
   in accounting principle        -        -        -        -          (.00)
                            _______  _______  _______  _______   ___________
  Net Loss Per Common Share $  (.00) $  (.00) $  (.00) $  (.00)  $      (.03)
                            _______  _______  _______  _______   ___________

 The accompanying notes are an integral part of these unaudited condensed
                           financial statements.

                                    -3-
<PAGE>


                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

               UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS


                                        For the Six Months    From Inception
                                         Ended June 30,       on September 9,
                                        ___________________   1997 Through
                                          2004        2003    June 30, 2004
                                        _________  _________   ____________
Cash Flows from Operating
  Activities:
 Net loss                               $ (4,991)  $ (4,496)   $   (72,813)
 Adjustments to reconcile net
  loss to net cash used by
  operating activities:
  Amortization expense                         -          -            250
 Effect of change in accounting
  principle                                    -          -            750
 Changes in assets and
   liabilities:
  Increase in accrued
   interest - related party                  821        816          5,549
  (Decrease) Increase in
   accounts payable                         (655)         -            130

                                        _________  _________   ____________
        Net Cash (Used) by
         Operating Activities              (4,825)   (3,680)       (66,134)
                                        _________  _________   ____________

Cash Flows from Investing
  Activities:
 Payment of organization costs                  -         -         (1,000)
                                        _________  _________   ____________
        Net Cash (Used) by
          Investing Activities                  -         -         (1,000)
                                        _________  _________   ____________
Cash Flows from Financing
   Activities:
 Proceeds from shareholder loans            1,322         -         17,772
 Proceeds from common stock
  issuance                                      -         -         55,050
 Stock offering costs                           -         -         (5,688)
 Proceeds from short-term
  loan and advance                              -         -         27,350
 Payments on short-term
  loan and advance                              -         -        (27,350)
                                        _________  _________   ____________
     Net Cash Provided by
       Financing Activities                 1,322         -         67,134
                                        _________  _________   ____________

Net Increase (Decrease) in Cash            (3,503)   (3,680)             -

Cash at Beginning of Period                 3,503     9,373              -
                                        _________  _________   ____________
Cash at End of Period                   $       -  $  5,693    $         -
                                        _________  _________   ____________

Supplemental Disclosures of Cash Flow Information:
  Cash paid during the periods for:
    Interest                            $       -  $      -    $       994
    Income taxes                        $       -  $      -    $     1,905

Supplemental Schedule of Non-cash Investing and Financing Activities:
  For the three months ended June 30, 2004:
     None

  For the three months ended June 30, 2003:
     None



 The accompanying notes are an integral part of these unaudited condensed
                           financial statements.

                                   -4-

<PAGE>

                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

             NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  Organization - First Growth Investors, Inc. ("the Company") was  organized
  under  the laws of the State of Nevada on September 9, 1997.  The  Company
  previously  bought  and  sold investments in wine  and  champagne  but  is
  currently seeking other potential business opportunities.  The Company has
  not  generated significant revenues and is considered a development  stage
  company as defined in Statement of Financial Accounting Standards  No.  7.
  The  Company  has,  at the present time, not paid any  dividends  and  any
  dividends  that may be paid in the future will depend upon  the  financial
  requirements of the Company and other relevant factors.

  Condensed  Financial  Statements - The accompanying  financial  statements
  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 cash flows at June 30, 2004 and 2003 and for the periods
  then ended have been made.

  Certain   information  and  footnote  disclosures  normally  included   in
  financial  statements  prepared  in  accordance  with  generally  accepted
  accounting principles in the United States of America have been  condensed
  or  omitted.  It is suggested that these condensed financial statements be
  read  in  conjunction  with  the financial statements  and  notes  thereto
  included  in the Company's December 31, 2003 audited financial statements.
  The results of operations for the periods ended June 30, 2004 and 2003 are
  not necessarily indicative of the operating results for the full year.

  Cash  and Cash Equivalents - The Company considers all highly liquid  debt
  investments purchased with a maturity of three months or less to  be  cash
  equivalents.

  Revenue  Recognition  -  The Company recognizes revenue  from  sales  upon
  delivery of the product.

  Income  Taxes  - The Company accounts for income taxes in accordance  with
  Statement  of  Financial  Accounting Standards No.  109,  "Accounting  for
  Income  Taxes."   This statement requires an asset and liability  approach
  for accounting for income taxes.

  Loss  Per  Share - The Company computes loss per share in accordance  with
  Statement of Financial Accounting Standards No. 128 "Earnings Per  Share,"
  which  requires the Company to present basic and dilutive loss  per  share
  when the effect is dilutive [See Note 7].

  Accounting  Estimates  -  The  preparation  of  financial  statements   in
  conformity  with generally accepted accounting principles  in  the  United
  States  of  America requires management to make estimates and  assumptions
  that   affect  the  reported  amounts  of  assets  and  liabilities,   the
  disclosures  of  contingent assets and liabilities  at  the  date  of  the
  financial  statements, and the reported amounts of revenues  and  expenses
  during  the  reporting  period.  Actual results could  differ  from  those
  estimated by management.

                                    -5-

<PAGE>
                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

             NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Continued]

  Recently  Enacted Accounting Standards - Statement of Financial Accounting
  Standards  ("SFAS")  No. 149, "Amendment of Statement  133  on  Derivative
  Instruments  and  Hedging Activities", and SFAS No. 150,  "Accounting  for
  Certain Financial Instruments with Characteristics of both Liabilities and
  Equity",  were  recently issued.  SFAS No. 149 and  150  have  no  current
  applicability  to the Company or their effect on the financial  statements
  would not have been significant.

  Reclassification - The financial statements for periods prior to June  30,
  2004 have been reclassified to conform to the headings and classifications
  used in the June 30, 2004 financial statements.

NOTE 2 - DISCONTINUED OPERATIONS

  On  December  31,  2003,  the  Company discontinued  its  wine  investment
  business.  The Company has accounted for this disposal in accordance  with
  Statement of Financial Accounting Standards No. 144, "Accounting  for  the
  Impairment or Disposal of Long-Lived Assets".  At December 31,  2003,  the
  Company had no assets or liabilities associated with its discontinued wine
  investment business.

  The  following is a summary of the results of operations of the  Company's
  discontinued wine investment business:

                                                              From Inception
                  For the Three Months   For the Six Months   on September 9,
                     Ended June 30,        Ended June 30,      1997, Through
                  _____________________   __________________    June 30,
                       2004     2003       2004     2003          2004
                  __________  _________   _______   ________   ____________
  Revenue           $      -   $      -   $     -   $      -    $   99,820
  Cost of goods
    sold                   -          -         -          -      (118,168)
  General and
   administrative          -          -         -          -       (35,253)
  Other income             -          -         -          -         1,000
  Income Taxes             -          -         -          -        (1,905)
                  __________  _________   _______   ________   _____________
  Net loss          $      -   $      -   $     -   $      -     $  (54,506)
                  __________  _________   _______   ________   _____________

NOTE 3 - CAPITAL STOCK

  Preferred Stock - The Company has authorized 1,000,000 shares of preferred
  stock, $.001 par value, with such rights, preferences and designations and
  to  be issued in such series as determined by the Board of Directors.   No
  shares are issued and outstanding at June 30, 2004 and December 31, 2003.

  Common Stock - In September 1997, in connection with its organization, the
  Company  issued 1,750,000 shares of its previously authorized but unissued
  common  stock.  Total proceeds from the sale of stock amounted  to  $5,050
  (or approximately $.0029 per share).

                                    -6-

<PAGE>

                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

             NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 3 - CAPITAL STOCK [Continued]

  In  November  1997,  the Company issued 250,000 shares of  its  previously
  authorized,  but unissued common stock.  Total proceeds from the  sale  of
  stock  amounted to $50,000 (or $.20 per share).  Stock offering  costs  of
  $5,688  were  netted  against the proceeds as a reduction  to  capital  in
  excess of par value.

  Common  Stock  Warrants  - In 1999, the Company  declared  a  dividend  of
  1,000,000  warrants  to  purchase common  stock  at  $1.00  per  share  to
  shareholders  of record as of September 30, 1999.  All 1,000,000  warrants
  expired on June 30, 2002.

NOTE 4 - INCOME TAXES

  The  Company  accounts for income taxes in accordance  with  Statement  of
  Financial  Accounting  Standards No. 109 "Accounting  for  Income  Taxes".
  SFAS  No.  109  requires  the  Company  to  provide  a  net  deferred  tax
  asset/liability  equal  to  the  expected future  tax  benefit/expense  of
  temporary  reporting differences between book and tax  accounting  methods
  and any available operating loss or tax credit carryforwards.  The Company
  has  available  at  June  30,  2004, an  operating  loss  carryforward  of
  approximately $82,000, which may be applied against future taxable  income
  and which expires in various years through 2023.

  The  amount of and ultimate realization of the benefits from the operating
  loss carryforwards for income tax purposes is dependent, in part, upon the
  tax  laws in effect, the future earnings of the Company, and other  future
  events,  the  effects  of  which cannot be  determined.   Because  of  the
  uncertainty  surrounding  the realization of the loss  carryforwards,  the
  Company  has established a valuation allowance equal to the tax effect  of
  the  loss  carryforwards and, therefore, no deferred tax  asset  has  been
  recognized  for  the loss carryforwards.  The net deferred  tax  asset  is
  approximately  $27,700 and $26,700 as of June 30, 2004  and  December  31,
  2003,  respectively, with an offsetting valuation allowance  of  the  same
  amount.   The  change in the valuation allowance for the six months  ended
  June 30, 2004 is approximately $1,000.

NOTE 5 - GOING CONCERN

  The  accompanying  financial statements have been prepared  in  conformity
  with  generally  accepted accounting principles in the  United  States  of
  America, which contemplate continuation of the Company as a going concern.
  However,  the Company has recurring losses and has no ongoing  operations.
  Further, the Company has current liabilities in excess of current  assets.
  These factors raise substantial doubt about the ability of the Company  to
  continue  as a going concern.  In this regard, management is proposing  to
  raise  any  necessary additional funds not provided by operations  through
  loans  or  through  additional sales of its common  stock.   There  is  no
  assurance  that the Company will be successful in raising this  additional
  capital  or  in achieving profitable operations.  The financial statements
  do not include any adjustments that might result from the outcome of these
  uncertainties.

NOTE 6 - RELATED PARTY TRANSACTIONS

  Management Compensation - The Company has not paid any compensation to its
  officers and directors, as the services provided by them to date have only
  been nominal.

                                    -7-

<PAGE>

                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

             NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 6 - RELATED PARTY TRANSACTIONS [Continued]

  Office  Space - The Company has not had a need to rent office  space.   An
  officer/shareholder  of the Company is allowing the  Company  to  use  her
  office as a mailing address, as needed, at no expense to the Company.

  Related  Party  Loans  -  At  June  30, 2004  and  December  31,  2003,  a
  shareholder  of  the  Company had loaned a total of $16,450  and  $16,450,
  respectively,  to the Company.  The advances are due on  demand  and  bear
  interest at 10% per annum.  Interest expense for the six months ended June
  30, 2004 and 2003 amounted to $820 and $816, respectively.

  Related  Party Advances - During the three months ended June 30, 2004,  an
  entity  related  to a shareholder of the Company advanced  $1,323  to  pay
  expenses on behalf of the Company.

  Agreement  and Sale of Investment - The Company entered into an  agreement
  with  a  shareholder of the Company that provided for the  shareholder  to
  negotiate the liquidation the Company's investment in champagne.  In 2002,
  the  Company sold its investment to a third party through the  efforts  of
  the  shareholder.   The Company sold its investment,  which  had  carrying
  valued of $47,900, for $11,882 resulting in a loss of $36,018.

NOTE 7 - LOSS PER SHARE

  The  following data show the amounts used in computing loss per share  for
  the periods presented:

                            For the Three      For the Six     From Inception
                             Months Ended      Months Ended    on February 11,
                              June 30,          June 30,        1998 Through
                            __________________________________      June 30,
                              2004     2003      2004     2003       2004
                           _________ _________ _________ _________ __________
  Income (loss) from
   continuing operations
   (numerator)              $(3,801)  $(1,345) $(4,991) $(4,496)  $  (17,557)
  Income (loss) from
   discontinued
   operations (numerator)         -         -         -        -     (54,506)
  Income (loss) from
   cumulative effect of
   change in accounting
    principle                     -         -         -        -        (750)
                           _________ _________ _________ _________ __________
  Income (loss) available
   to common shareholders
    (numerator)             $(3,801)  $(1,345) $(4,991) $(4,496)  $  (72,813)
                           _________ _________ _________ _________ __________

  Weighted average number
   of common shares
   outstanding used in
   loss per share for the
    period (denominator)   2,000,000 2,000,000 2,000,000 2,000,000 1,993,633
                           _________ _________ _________ _________ __________

                                    -8-

<PAGE>

                       FIRST GROWTH INVESTORS, INC.
                       [A Development Stage Company]

             NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 7 - LOSS PER SHARE [Continued]

  Dilutive  loss per share was not presented, as the Company had  no  common
  equivalent  shares  for  all  periods  presented  that  would  affect  the
  computation of diluted loss per share.

NOTE 8 - CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE

  In  1997,  the  Company paid $1,000 in organization  costs  which  reflect
  amounts  expended  to  organize the Company.  The Company  was  previously
  amortizing  the  costs, but during 1999, in accordance with  Statement  of
  Position  98-5,  the Company expensed the remaining $750  in  organization
  costs which has been accounted for as a change in accounting principle.

                                    -9-
<PAGE>

ITEM 2:  MANAGEMENT'S DISCUSSION & ANALYSIS OR PLAN OF OPERATIONS

     First Growth Investors, Inc. (the "Company") was incorporated under the
laws of the State of Nevada on September 9, 1997.  In connection with the
organization, the founders contributed $5,050 cash to initially capitalize
First Growth Investors in exchange for 1,750,000 shares of common stock.  On
October 15, 1997, First Growth Investors commenced a public offering of up to
250,000 shares of its common stock, in reliance upon Rule 504 of Regulation D,
promulgated by the U.S. Securities & Exchange Commission (the "Commission")
under the Securities Act of 1933.  The offering closed in November, 1997.  The
Company sold 250,000 shares of common stock, at $.20 per share, and raised
gross proceeds of $50,000 increasing the total issued and outstanding common
stock to 2,000,000 shares.  The Company then registered a public offering of
its securities.  First Growth Investors declared a distribution of 1,000,000
common stock purchase warrants to shareholders of record as of September 30,
1999.  The Company filed with the Securities and Exchange Commission a
registration statement on Form SB-2, Commission File No. 333-83125, which
became effective October 8, 1999.  The Company then became subject to the
information requirements of the Securities Exchange Act of 1934. Accordingly,
the Company files Annual, Quarterly and other reports and information with the
Commission. Pursuant to the registration statement, the Company then
distributed 1,000,000 warrants.  The warrants were exercisable at $1.00 per
share, on or before June 30, 2002. The warrants have now expired, and no
securities were ever sold pursuant to the offering.

PLAN OF OPERATIONS.

     First Growth Investors was formed to engage in the business of wine
investing. Because this business was not successful, operations were
discontinued as of December 31, 2003. The Company had no operations or revenue
during the last fiscal year. Due to this, the Company realized a net loss. The
Company does not expect to generate any meaningful revenue or incur operating
expenses, except for administrative, legal, professional, accounting and
auditing costs associated with the filing requirements of a public reporting
company, unless and until it acquires an interest in an operating company.
The Company does not have sufficient cash to meet its operational needs for
the next twelve months. Management's plan of operation for the next twelve
months is to attempt to raise additional capital through loans from related
parties, debt financing, equity financing or a combination of financing
options. Currently, there are no understandings, commitments or agreements for
such an infusion of capital and no assurances to that effect. Unless the
Company can obtain additional financing, its ability to continue as a going
concern during the next twelve-month period is doubtful. The Company's need
for capital may change dramatically if and during that period, it acquires an
interest in a business opportunity.  The Company's current operating plan is
to (i) handle the administrative and reporting requirements of a public
company, and (ii) search for potential businesses, products, technologies and
companies for acquisition without regard to any specific business or industry.
At present, the Company has no understandings, commitments or agreements with
respect to the acquisition of any business venture, and there can be no
assurance that the Company will identify a business venture suitable for
acquisition in the future. Further, there can be no assurance that the Company
would be successful in consummating any acquisition on favorable terms or that
it will be able to profitably manage any business venture it acquires.

<PAGE>

ITEM 3. CONTROLS AND PROCEDURES.

     The issuer's principal executive officer or officers and principal
financial officer or officers, or persons performing similar functions, are
responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and
internal control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the issuer and have:

     designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under their supervision,  to
ensure that material information relating to the issuer, including its
consolidated subsidiaries, is made known to them by others within those
entities, particularly during the period in which the periodic reports are
being prepared;

     designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under their
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;

     evaluated the effectiveness of the issuer's disclosure controls and
procedures as of the end of the fiscal quarter (the "Evaluation Date").
     Based on their evaluation as of the Evaluation Date, their conclusions
about the effectiveness of the disclosure controls and procedures were that
nothing indicated:

     any significant deficiencies in the design or operation of internal
controls which could adversely affect the issuer's ability to record, process,
summarize and report financial data;

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

     any material weaknesses in internal controls that have been or should be
identified for the issuer's auditors and disclosed to the issuer's auditors
and the audit committee of the board of directors (or persons fulfilling the
equivalent function).

     Changes in internal control over financial reporting. There was no
significant change in the issuer's internal control over financial reporting
that occurred during the most recent fiscal quarter that has materially
affected, or is reasonably likely to materially affect, the issuer's internal
control over financial reporting.

                     PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

     The Company is not a party to any material pending legal proceedings. No
such action is contemplated by the Company nor, to the best of its knowledge,
has any action been threatened against the Company.

<PAGE>

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

     (a)  No instruments defining the rights of the holders of any class of
          registered securities have been materially modified.

     (b)  No rights evidenced by any class of registered securities have
          been materially limited or qualified by the issuance or
          modification of any other class of securities.

     (c)  During the period covered by this report, there were no equity
          securities of the issuer, sold by the issuer, that were not
          registered under the Securities Act.

     (d)  The Company was incorporated September 9, 1997. Upon inception,
          the founders contributed $5,050 cash to initially capitalize the
          Company in exchange for 1,750,000 shares of common stock. On
          October 15, 1997, the Company commenced a public offering of up to
          250,000 shares of its common stock, in reliance upon Rule 504 of
          Regulation D, promulgated by the U.S. Securities & Exchange
          Commission under the Securities Act of 1933.  The offering closed
          in November, 1997.  Pursuant thereto, the Company sold 250,000
          shares, increasing the total issued and outstanding common stock
          to 2,000,000 shares.  In July, 1999, the Company filed a
          registration statement on Form SB-2 with the U.S. Securities &
          Exchange Commission under the Securities Act of 1933, to register
          the distribution and exercise of warrants.  This registration
          statement was declared effective on October 8, 1999.  At that time
          the Company became subject to the information requirements of the
          Securities Exchange Act of 1934.  Accordingly, the Company files
          annual and quarterly reports and other information with the
          Commission.  Pursuant to the offering the Company distributed
          1,000,000 warrants.  The warrants were exercisable at $1.00 per
          share, on or before June 30, 2002. The warrants have now expired,
          and no securities were ever sold pursuant to the offering.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

     There has not been any material default in the payment of principal,
interest, a sinking or purchase fund installment, or any other material
default not cured within 30 days, with respect to any indebtedness of the
issuer exceeding 5 percent of the total assets of the issuer.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     No matter has been submitted to a vote of security holders during the
period covered by this report, through the solicitation of proxies or
otherwise.

ITEM 5.  OTHER INFORMATION

     None.

<PAGE>

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits required by Item 601 of Regulation S-B.

          31. Certifications required by Rules 13a-14(a) or 15d-14(a).

          32. Section 1350 Certifications

     (b)  Reports on Form 8-K.  No reports on Form 8-K were filed during the
          quarter for which this report is filed.

<PAGE>

                              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.


                              FIRST GROWTH INVESTORS, INC.



Date: August 10, 2004              by:     /s/ Pam Jowett
                                   Pam Jowett, President & Director