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, 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 June 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

               SIX MONTHS ENDED JUNE 30, 2002
                         (Unaudited)

                             AND

                YEAR ENDED DECEMBER 31, 2002



<PAGE>

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

             BALANCE SHEETS

                 ASSETS
                                          June 30,    December 31,
                                            2002          2001
                                         __________   ___________
                                        (Unaudited)
CURRENT ASSETS:
     Cash in bank                           $11,603          $166
     Inventory                                    -        47,000
                                         __________   ___________

          Total Current Assets               11,603        47,166
                                         __________   ___________

TOTAL ASSETS                                $11,603       $47,166
                                         ==========   ===========

  LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable                            $-            $-
     Accrued interest payable -               2,250         1,493
          stockholder loan
     Stockholder loan payable                16,450        12,200
                                         __________   ___________

          Total Current Liabilities          18,700        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                 (56,459)      (15,889)
                                         __________   ___________

          Total Stockholders' Equity         (7,097)       33,473
          (Deficit)                      __________   ___________

TOTAL LIABILITIES AND STOCKHOLDERS'         $11,603       $47,166
EQUITY                                   ==========   ===========

  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 Six        Cumulative
                       Months Ended             Months Ended       During the
                         June 30,                 June 30,         Development
                       2002       2001        2002       2001       Stage
                       ______________________________________________________
REVENUE
  Sales               $11,882          $-     $11,882          $-     $99,820
  Cost of goods sold  (47,900)          -     (47,900)          -    (118,168)
                       ______________________________________________________

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

EXPENSES:
  Professional fees       905         875       3,770       3,375      16,335
  Fees and licenses         -           -          25          25       1,961
  Costs - warrant           -           -           -      14,476      14,476
   registration
  Amortization expense      -           -           -           -         250
                       ______________________________________________________

     Total Expenses       905         875       3,795     17,876       33,022
                       ______________________________________________________
NET INCOME (LOSS)
FROM OPERATIONS       (36,923)       (875)    (39,813)   (17,876)     (51,370)
                       ______________________________________________________

OTHER INCOME(EXPENSE)
     Other income           -           -           -           -       1,000
     Interest expense    (405)       (266)       (757)       (445)     (3,434)
                       ______________________________________________________
NET INCOME BEFORE
INCOME TAXES          (37,328)     (1,141)    (40,570)    (18,321)    (53,804)
                       ______________________________________________________

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

NET INCOME (LOSS)
BEFORE CUMULATIVE
EFFECT OF
ACCOUNTING CHANGE     (37,328)     (1,141)    (40,570)   (18,321)     (55,709)
                       ______________________________________________________
  Cumulative effect of
  accounting change for     -           -           -          -         (750)
  organization costs   ______________________________________________________

NET INCOME (LOSS)    $(37,328)    $(1,141)   $(40,570)  $(18,321)    $(56,459)
                       ======================================================
EARNINGS(LOSS) PER
SHARE BEFORE
ACCOUNTING CHANGE    $  (0.02)    $ (0.00)   $  (0.02)  $  (0.01)    $  (0.03)

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

INCOME (LOSS) PER    $  (0.02)    $ (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 Six         Cumulative
                                             Months Ended        During the
                                             June 30,            Development
                                             2002      2001      Stage
                                             _______________________________
CASH FLOWS FROM OPERATING ACTIVITIES
  Sales                                       $11,882        $-    $99,820
  Organization costs                                -         -     (1,000)
  Cash paid for inventory and                       -         -   (115,698)
   related costs
  Cash paid to suppliers and others            (4,695)   (4,900)   (34,182)
  Cash paid for taxes                               -         -     (1,905)
  Cash paid for interest                            -         -       (994)
                                             _______________________________
    Net cash provided(used) from
    operating activities                        7,187    (4,900)    (53,959)
                                             _______________________________
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                                    14,476
   registration
  Proceeds form short term advance                  -         -      27,100
   and loan
  Loans and other debt payments                     -         -     (27,350)
                                             _______________________________

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

NET CASH PROVIDED(USED) DURING PERIOD          11,437     1,100      11,603

CASH - BEGINNING OF PERIOD                        166       266           -
                                             _______________________________

CASH - ENDING OF PERIOD                      $ 11,603  $  1,366    $ 11,603
                                             ===============================
RECONCILIATION OF NET INCOME
(LOSS) TO NET CASH PROVIDED
(USED) BY OPERATING ACTIVITIES

NET INCOME (LOSS)                            $(40,570) $(18,321)   $(56,459)
                                             ===============================
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         757       445       2,250
   Increase in note payable                         -         -         250
                                             _______________________________

    Total adjustments                          47,757    13,421       2,500
                                             _______________________________
NET CASH PROVIDED (USED) BY
OPERATING ACTIVITIES                           $7,187   $(4,900)   $(53,959)
                                             ===============================

 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 Company, without audit, has prepared the
     accompanying financial statements. 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 June 30, 2002 and 2001 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 June 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 June 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 sale 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
     resulting in a loss on sale of $36,018.


<PAGE>


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 June 30, 2002 was $18,348 and the
     Company from inception to June 30, 2002 has a total
     loss of $56,459.  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.

     Accordingly, the entity'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 $11,603.  There can be no
     assurance that the Company will be able to obtain
     additional funding or profitable investing in Champagne
     and wines and, if available, that the profits from its
     investing in champagne and 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 successfully 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 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 vintage champagne and 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 $11,603.
There can be no assurance that the Company will be able to obtain additional
funding or profitable investing in Champagne and wines and, if available, that
the profits from its investing in champagne and 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 successfully 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>

                     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.

     (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.

<PAGE>

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.



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.



<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 13, 2002              by:     /s/ Pam Jowett
                                   Pam Jowett, President & Director