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:  September 30, 2002

                                  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),                  YES [X]  NO [ ]
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 September 30, 2002:
2,000,000

<PAGE>

                    PART I - FINANCIAL INFORMATION


ITEM 1.   FINANCIAL STATEMENTS

     See attached.














<PAGE>

















                FIRST GROWTH INVESTORS, INC.
                (A Development Stage Company)

                    FINANCIAL STATEMENTS

            NINE MONTHS ENDED SEPTEMBER 30, 2002
                         (Unaudited)

                             AND

                 YEAR ENDED DECEMBER 31, 2001














<PAGE>

                         FIRST GROWTH INVESTORS, INC.
                         (A Development Stage Company)

                                BALANCE SHEETS



                                    ASSETS


                                                   September 30, December 31,
                                                       2002          2001
                                                   ____________  ____________
                                                   (Unaudited)

CURRENT ASSETS:
  Cash in bank                                         $10,408           $166
  Inventory                                                  -         47,000

       Total Current Assets                             10,408         47,166
                                                   ____________  ____________

TOTAL ASSETS                                           $10,408        $47,166
                                                   ============  ============

                     LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accounts payable                                          $-             $-
  Accrued interest payable - stockholder loan            2,664          1,493
  Stockholder loan payable                              16,450         12,200
                                                   ____________  ____________

       Total Current Liabilities                        19,114         13,693
                                                   ____________  ____________

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 both periods                             2,000          2,000
  Capital in excess of par value                        47,362         47,362
  Deficit accumulated during the development stage     (58,068)       (15,889)
                                                   ____________  ____________

       Total Stockholders' Equity (Deficit)             (8,706)        33,473
                                                   ____________  ____________

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY             $10,408        $47,166
                                                   ============  ============


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


<PAGE>

                         FIRST GROWTH INVESTORS, INC.
                         (A Development Stage Company)

                           STATEMENTS OF OPERATIONS
                                  (Unaudited)




                           For the Three          For the Nine      Cumulative
                           Months Ended           Months Ended      During the
                           September 30,          September 30,    Development
                          2002       2001        2002       2001       Stage
                        ______________________________________________________

REVENUE

  Sales                    $-          $-     $11,882          $-     $99,820
  Cost of goods sold        -           -     (47,900)          -    (118,168)
                        ______________________________________________________

    Gross profit            -           -     (36,018)          -     (18,348)
                        ______________________________________________________

EXPENSES:
  Professional fees     1,050         860       4,820       4,235      17,385
  Fees and licenses       145         135         170         160       2,106
  Costs - warrant           -           -           -      14,476      14,476
    registration
  Amortization expense      -           -           -           -         250
                        ______________________________________________________

    Total Expenses      1,195         995       4,990      18,871      34,217
                        ______________________________________________________

NET INCOME (LOSS)
FROM OPERATIONS        (1,195)       (995)    (41,008)    (18,871)    (52,565)
                        ______________________________________________________

OTHER INCOME
(EXPENSE)
  Other income              -           -           -           -       1,000
  Interest expense       (415)       (290)     (1,171)       (735)     (3,848)
                        ______________________________________________________

NET INCOME BEFORE
INCOME TAXES           (1,610)     (1,285)    (42,179)    (19,606)    (55,413)

  Provision for income      -           -           -           -      (1,905)
  taxes                 ______________________________________________________

NET INCOME (LOSS)
BEFORE CUMULATIVE
EFFECT OF
ACCOUNTING CHANGE      (1,610)     (1,285)    (42,179)    (19,606)    (57,318)

  Cumulative effect
  of accounting
  change for                -           -           -           -        (750)
  organization costs    ______________________________________________________

NET INCOME (LOSS)     $(1,610)    $(1,285)   $(42,179)   $(19,606)   $(58,068)
                        ======================================================

EARNINGS (LOSS) PER
SHARE BEFORE
ACCOUNTING CHANGE     $ (0.00)    $ (0.00)   $  (0.02)   $  (0.01)   $  (0.03)


CUMULATIVE EFFECT OF
ACCOUNTING CHANGE           -           -           -          -        (0.00)
                        ______________________________________________________

INCOME (LOSS) PER     $(0.00)     $ (0.00)   $  (0.02)   $  (0.01)   $  (0.03)
SHARE
                        ======================================================


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


<PAGE>

                         FIRST GROWTH INVESTORS, INC.
                         (A Development Stage Company)

                           STATEMENTS OF CASH FLOWS
                                  (Unaudited)

                                             For the Nine        Cumulative
                                             Months Ended        During the
                                             September 30,       Development
                                             2002      2001      Stage
                                             _______________________________

CASH FLOWS FROM OPERATING ACTIVITIES
  Sales                                       $11,882        $-     $99,820
  Organization costs                                -         -      (1,000)
  Cash paid for inventory and related costs         -         -    (115,698)
  Cash paid to suppliers and others            (5,890)   (5,895)    (35,377)
  Cash paid for taxes                               -         -      (1,905)
  Cash paid for interest                            -         -        (994)
                                             _______________________________
      Net cash provided (used) from
        operating activities                    5,992    (5,895)    (55,154)
                                             _______________________________
CASH FLOWS FROM (USED) IN
INVESTING ACTIVITIES:                               -         -           -
                                             _______________________________

CASH FLOWS FROM FINANCING ACTIVITIES:
  Stockholder loan                              4,250     6,000      16,450
  Sale of common stock                              -         -      55,050
  Direct costs of common stock sale                 -         -      (5,688)
  Direct costs of warrants registration             -         -     (14,476)
  Expense direct costs of warrant registration      -         -      14,476
  Proceeds form short term advance and loan         -         -      27,100
  Loans and other debt payments                     -         -     (27,350)
                                             _______________________________

      Net cash Provided (Used) by               4,250     6,000      65,562
        financing activities                 _______________________________

NET CASH PROVIDED (USED) DURING PERIOD         10,242       105      10,408

CASH - BEGINNING OF PERIOD                        166       266           -
                                             _______________________________

CASH - ENDING OF PERIOD                       $10,408      $371     $10,408
                                             ===============================
RECONCILIATION OF NET INCOME(LOSS) TO NET
CASH PROVIDED(USED) BY OPERATING ACTIVITIES

NET INCOME (LOSS)                            $(42,179) $(19,606)   $(58,068)
                                             _______________________________

Adjustment to reconcile net income(loss) to
net cash provided(used) by operating
activities
  Amortization of organization costs                -         -         250
  Cumulative change in accounting principle         -         -         750
  Changes in assets and liabilities
    (Increase) in accounts receivable               -         -           -
    (Increase) decrease in inventory           47,000         -           -
    Decrease in deferred warrant cost               -    14,476           -
    (Increase) in organization costs                -         -      (1,000)
    (Decrease in accounts payable                   -    (1,500)          -
    Increase (decrease) in accrued interest     1,171       735       2,664
    Increase in note payable                        -         -         250
                                             _______________________________

        Total adjustments                      48,171    13,711       2,914
                                             _______________________________

NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES                          $ 5,992   $(5,895)   $(55,154)
                                             ===============================


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


<PAGE>



                FIRST GROWTH INVESTORS, INC.
                (A Development Stage Company)

           NOTES TO UNAUDITED FINANCIAL STATEMENTS


NOTE 1 - 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 operation and
     cash flows at September 30, 2002 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
     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, 2001 audited
     financial statements.  The results of operations for
     the periods ended September 30, 2002 and 2001 are not
     necessarily indicative of the operating results for the
     full year.

.. NOTE 2 - DIRECT COSTS - WARRANT REGISTRATION

     During the six months ended June 30, 2001, the Company
     wrote-off the deferred costs of its warrant
     registration to expense.  The amount written-off was
     $14,476.

NOTE 3 - STOCKHOLDER LOAN PAYABLE

     Through September 30, 2002, a stockholder has advance
     $16,450 to the Company on an unsecured basis. The loan
     is due upon demand and carries interest at 10% per
     annum.

NOTE 4 - LOSS ON SALE OF INVENTORY

     During the second quarter ending June 30, 2002, the
     Board of Directors approved that the management of the
     Company sell its inventory of investment champagne, as
     soon as possible, for the highest price it could
     obtain.  The champagne was invested in speculation of
     expected high demand for champagne for the celebration
     of the new millennium on December 31, 1999 and January
     1, 2000.  It turned out that there was an oversupply of
     champagne and management felt the Corporation should
     liquidate its investment in the champagne to recoup
     whatever may be obtained from the sell of the
     champagne.  The Corporation entered into an agreement
     with a stockholder wherein the Corporation authorized
     the stockholder to liquidate the champagne on behalf of
     the Corporation.  This was done and the champagne was
     sold to a third party buyer for $11,882 for a loss on
     sale of $36,018.

NOTE   5 - DEVELOPMENT STAGE COMPANY AND GOING CONCERN

     The Company is a development stage company as defined
     in Financial Accounting Standards Board Statement No.
     7.  It has yet to commence full-scale business
     operations.  From inception through the date of these
     financial statements, the Company's major asset was an
     inventory of investment champagne that the Company
     intended to sale for a profit. As explained in Note 4
     above, the inventory available to be sold was
     liquidated for a loss in the second quarter of 2002.
     The cumulative loss from the sale of its investment
     champagne through September 30, 2002 was $18,348 and
     the Company from inception to September 30, 2002 has a
     total loss of $58,068.  The Company has no inventory
     remaining at this time but the Company has determined
     that it shall continue to look for investment
     opportunities in the area of vintage champagne and
     wines.

<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 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.  Pursuant thereto 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.

     Management's plan of operation for the next twelve months is to continue
using existing capital to provide general working capital during the next
twelve months, and the Company may also use funds to acquire another inventory
of select wines to hold for investment and resale, if a suitable investment
opportunity can be located.  Under this plan of operations, First Growth
Investors has no specific capital commitments and the timing of capital
expenditures will depend upon finding a suitable investment opportunity and
the receipt of additional funds, if necessary, none of which is assured.  We
have not determined how long existing capital can satisfy any cash
requirements, but we do not presently anticipate that we will have to raise
additional funds within the next twelve months.  We do not anticipate any
capital commitments for product research and development or significant
purchases of plant or equipment, or any change in the number of employees.

     The Company has no inventory remaining at this time, but the Company has
determined that it shall continue to look for investment opportunities in the
area of investment grade vintages of wines. Accordingly, the Company's ability
to accomplish it business strategy and to ultimately become profitable is at
this time dependent on the success of its ability to generate significant
revenue and to ultimately achieve profitable operations. At present the
Company's only asset is cash of $10,408.  There can be no assurance that the
Company will be able to obtain additional funding or profitable investing in
wines and, if available, that the profits from its investing in wine or the
funding if obtained will be on terms favorable to or affordable or in adequate
amounts needed to complete its current business plan.  The Company's
management is exploring all of its options so that it can develop successful
operations around its business plan.  Ultimately, however, the Company will
need to achieve profitable operations in order to continue as a going concern.

<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 such term is defined in paragraph (c) of Rule 15d-14) for the
issuer and have:

     designed such disclosure controls and procedures 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;

     evaluated the effectiveness of the issuer's disclosure controls and
procedures as of a date within 90 days prior to the filing date of the report
(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 controls. There were no significant changes in the
issuer's internal controls or in other factors that could significantly affect
these controls subsequent to the date of the evaluation, including any
corrective actions with regard to significant deficiencies and material
weaknesses.

                     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.

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.

<PAGE>

     (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.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits required by Item 601 of Regulation S-B.  None
     (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: October 31, 2002                  by:    /s/ Pam Jowett
                                   Pam Jowett, President & Director





CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

     The undersigned Chief Executive Officer and Chief Financial Officer
certify that this report fully complies with the requirements of Section 13 or
15(d) of the Securities Exchange Act of 1934, and the information contained in
the report fairly presents, in all material respects, the financial condition
and results of operations of the Company.




Date: October 31, 2002                  by:    /s/ Pam Jowett
                                   Pam Jowett, President & Director

<PAGE>

                           CERTIFICATIONS*
I, Pam Jowett, certify that:
1. I have reviewed this quarterly report on Form 10-QSB of First Growth
Investors, Inc., 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 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 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.




Date: October 31, 2002        by:     /s/ Pam Jowett
                              Pam Jowett, President & Director
                    (Chief Executive Officer and Chief Financial Officer)
* Provide a separate certification for each principal executive officer and
principal financial officer of the registrant. See Rules 13a-14 and 15d-14.
The required certification must be in the exact form set forth above.