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, 2000

                                  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, 2000:
2,000,000

<PAGE>

                    PART I - FINANCIAL INFORMATION


ITEM 1.   FINANCIAL STATEMENTS

     See attached.













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

                        FINANCIAL STATEMENTS

  SIX MONTHS ENDED JUNE 30, 2000 AND YEAR ENDED DECEMBER 31, 1999

                               WITH

               INDEPENDENT ACCOUNTANT'S REVIEW REPORT






  <PAGE>






       INDEPENDENT ACCOUNTANT'S REVIEW REPORT


       Board of Directors and Stockholders
       FIRST GROWTH INVESTORS, INC.

  I have reviewed the accompanying balance sheet of First Growth
  Investors, Inc. (a development stage company) as of June 30, 2000, and
  the related statements of operations and cash flows for the three and
  six month periods ended June 30, 2000 and 1999.  These financial
  statements are the responsibility of the management of First Growth
  Investors, Inc.

  I conducted my review in accordance with standards established by the
  American Institute of Certified Public Accountants.  A review of interim
  financial statements consists principally of applying analytical
  procedures to financial data and making inquiries of persons responsible
  for financial and accounting matters.  It is substantially less in scope
  than an audit conducted in accordance with generally accepted auditing
  standards, the objective of which is the expression of an opinion
  regarding the financial statements taken as a whole.  Accordingly, I do
  not express such an opinion.

  Based on by review, I am not aware of any material modifications that
  should be made to the accompanying financial statements in order for
  them to be in conformity with generally accepted accounting  principles.



  Salt Lake City,  Utah
  August 2, 2000

<PAGE>

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

                     BALANCE SHEETS




                         ASSETS
                                                       June 30,    December 31,
                                                         2000          1999
                                                     (Unaudited)
CURRENT ASSETS:
  Cash in bank                                        $    55         $10,703
  Deferred costs - warrant registration                14,476          14,476
  Inventory                                            45,500          45,500

    Total Current Assets                               60,031          70,679

TOTAL ASSETS                                          $60,031         $70,679

          LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accounts payable                                    $     0         $     0
  Accrued interest payable                                225              70
  Income taxes payable                                      0           1,905
  Stockholder loan payable                              3,500           3,000
  Short term advance                                        0           6,100

    Total Current Liabilities                           3,725          11,075

STOCKHOLDERS' EQUITY:
  Preferred stock; $.001 par value, 1,000,000 shares
    authorized, no shares issued and outstanding            0               0
  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      6,944	     10,242
    Total Stockholders' Equity                         56,306          59,604

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY            $60,031  	    $70,679


  The accompanying notes are an integral part of these financial statements.
                   See Independent Accountant's Review Report





<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
                             2000       1999      2000     1999     Stage
REVENUE
  Sales                   $      0  $      0  $      0  $ 76,138  $ 87,938
  Cost of goods sold             0         0         0   (54,588)  (70,268)

    Gross profit                 0         0         0    21,550    17,670

EXPENSES:
  Professional fees          1,613     1,805     2,993     1,805     5,686
  Fees and licenses            111        15       141        15     1,727
  Amortization expense           0        50         0       100       250

       Total Expense         1,724     1,870     3,134     1,920     7,663

NET INCOME (LOSS) FROM
OPERATIONS                  (1,724)   (1,870)   (3,134)   19,630    10,007

OTHER INCOME (EXPENSE)
  Other income                   0         0         0         0     1,000
  Interest expense             (89)        0      (165)        0    (1,408)

NET INCOME BEFORE INCOME
TAXES                       (1,813)   (1,870)   (3,299)   19,630     9,599
  Provision for income taxes     0       280         0    (2,945)   (1,905)

NET INCOME (LOSS) BEFORE
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE
  Cumulative effect of
  accounting change for
  organization costs             0         0         0         0      (750)

NET INCOME (LOSS)         $ (1,813) $ (1,590) $ (3,299) $ 16,685  $  6,944

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

CUMULATIVE EFFECT OF
ACCOUNTING CHANGE         $  (0.00) $  (0.00) $  (0.00) $   0.00  $   0.00

INCOME (LOSS) PER SHARE   $  (0.00) $  (0.00) $  (0.00) $   0.01  $   0.00


The accompanying notes are an integral part of these financial statements.
                 See Independent Accountant's Review Report

<PAGE>

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

       STATEMENTS OF CASH FLOWS
             (Unaudited)


                                   For the Three       For the Six    Cumulative
                                   Months Ended        Months Ended   During the
                                     June 30,           June 30,     Development
                                   2000     1999      2000     1999     Stage

CASH FLOWS FROM OPERATING ACTIVITIES
  Sales                        $      0  $     0   $      0  $ 30,420  $ 87,938
  Organization costs                  0        0          0         0    (1,000)
  Cash paid for inventory and
    related costs                     0        0          0         0  (115,698)
  Cash paid to suppliers
    and others                   (3,638)  (1,320)    (5,048)   (1,820)   (8,337)
  Cash paid for interest              0        0          0         0      (984)

       Net cash provided(used)from
          operating activities   (3,638)  (1,320)    (5,048)   28,600   (38,081)

CASH FLOWS FROM (USED) IN INVESTING :
ACTIVITIES                            0        0          0         0         0

CASH FLOWS FROM FINANCING ACTIVITIES:
  Stockholder loan                  500        0        500         0     3,500
  Sale of common stock                0        0          0         0    55,050
  Direct costs of common stock sale   0        0          0         0    (5,688)
  Direct costs of warrants
    registration                      0        0          0         0   (14,476)
  Proceeds form short term
    advance and loan                  0        0          0         0    27,100
  Loans and other debt payments       0        0     (6,100)  (11,000)  (27,350)

       Net cash Provided(Used)
       by financing activities      500        0     (5,600)  (11,000)   38,136


NET CASH PROVIDED (USED)
DURING PERIOD                    (3,138)  (1,320)   (10,648)   17,600        55

CASH - BEGINNING OF PERIOD        3,193    20,154    10,703     1,234         0

CASH - ENDING OF PERIOD        $     55  $ 18,834  $     55  $ 18,834  $     55

RECONCILIATION OF NET INCOME
(LOSS) TO NET CASH PROVIDED
(USED) BY OPERATING ACTIVITIES

NET INCOME (LOSS)              $ (1,813) $ (1,590) $ (3,299) $ 16,685  $  6,944

Adjustment to reconcile net income
(loss) to net cash provided (used)
by operating activities
  Amortization of organization
   costs                              0        50         0       100       250
  Cumulative change in accounting
   principle                          0         0         0         0       750
  Changes in assets and liabilities
    (Increase) in accounts
      receivable                      0         0         0   (45,718)        0
    (Increase) decrease in inventory  0         0         0    54,588   (45,500)
    Decrease in prepaid expenses      0       500         0         0         0
    (Increase) in organization costs  0         0         0         0    (1,000)
    Increase(decrease) in
      accrued interest               80         0       156         0       225
    Increase(decrease) in
      income tax payable         (1,905)     (280)   (1,905)    2,945         0
    Increase in note payable          0         0         0         0       250

       Total adjustments         (1,825)      270    (1,749)   11,915   (45,025)

NET CASH PROVIDED(USED)
BY OPERATING ACTIVITIES        $ (3,638) $ (1,320) $ (5,048) $ 28,600  $(38,081)



The accompanying notes are an integral part of these financial statements.
                 See Independent Accountant's Review Report






<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 June 30, 2000 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, 1999 audited financial
       statements.  The results of operations for the periods ended June
       30, 2000 and 1999 are not necessarily indicative of the operating
       results for the full year.




<PAGE>



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

     The Company was incorporated September 9, 1997. Upon inception, the
Company issued 1,750,000 shares of common stock to its founding stockholders.
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
now files annual and quarterly reports and other information with the
Commission.  The warrants were distributed as soon as practicable after the
date of the prospectus to common stockholders of record as of September 30,
1999. No securities have yet been sold pursuant to exercise of warrants in
this offering.

PLAN OF OPERATIONS.

     Management's plan of operation for the next twelve months is to continue
using existing capital and any funds from exercise of warrants in the offering
to acquire another inventory of select wines to hold for investment and
resale, and also to provide general working capital during the next twelve
months.  Under this plan of operations First Growth Investors has no specific
capital commitments and the timing of capital expenditures will depend upon
the receipt of additional funds from warrant exercise or elsewhere, none of
which is assured.  Cash flows will also depend upon the timing of sale of the
wines, which is also not assured, and receipt of the proceeds from these
sales. 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.  While we do not anticipate
any need to raise additional capital, we believe First Growth Investors will
have the opportunity to invest whatever additional funds may be received from
the exercise of warrants in purchasing additional vintages of investment grade
wines. 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.

     Initially, we purchased eleven different vintages of investment grade
wines at a cost of $54,588. During the first quarter of 1999, we sold these
wines for $76,138.  We made these purchases, and all purchases to date, from
non affiliated third parties.  We did not purchase any of the inventory from,
or sell any of the inventory to, persons affiliated with First Growth
Investors.


<PAGE>

                     PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

     None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

     (a)  None.

     (b)  None.

     (c)  See Part I, Item 1 (financial statements) and Item 2 (management's
          discussion) for financial information and a discussion regarding
          use of proceeds.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

     None.

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

     None.

ITEM 5.  OTHER INFORMATION

     None.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     None

<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 3, 2000                   by:   /s/ Pam Jowett
                                   Pam Jowett, President & Director