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, 2003

                                  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 September 30, 2003:
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

                            SEPTEMBER 30, 2003





















<PAGE>




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




                                 CONTENTS

                                                                 PAGE

        -    Unaudited Condensed Balance Sheets,
             September 30, 2003 and December 31, 2002              2


        -    Unaudited Condensed Statements of Operations,
             for the three and nine months ended September 30,
             2003 and 2002 and from inception on September 9,
             1997 through September 30, 2003                       3


        -    Unaudited Condensed Statements of Cash Flows,
             for the nine months ended September 30, 2003
             and 2002 and from inception on September 9,
             1997 through September 30, 2003                       4


        -    Notes to Unaudited Condensed Financial Statements   5 - 8







<PAGE>

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

                    UNAUDITED CONDENSED BALANCE SHEETS


                                  ASSETS

                                        September 30, December 31,
                                             2003         2002
                                         ___________  ___________
CURRENT ASSETS:
  Cash                                    $    4,738   $    9,373
                                         ___________  ___________
    Total Current Assets                       4,738        9,373
                                         ___________  ___________
                                          $    4,738   $    9,373
                                         ___________  ___________

              LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)


CURRENT LIABILITIES:
  Accrued interest - related party        $    4,314   $    3,079
  Shareholder loans                           16,450       16,450
                                         ___________  ___________
    Total Current Liabilities                 20,764       19,529
                                         ___________  ___________

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                        (65,388)     (59,518)
                                         ___________  ___________
    Total Stockholders' Equity (Deficit)     (16,026)     (10,156)
                                         ___________  ___________
                                         $     4,738   $    9,373
                                         ___________  ___________






Note: The balance sheet at December 31, 2002 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

                                                                       From
                                                                    Inception
                             For the Three       For the Nine     on September
                             Months Ended        Months Ended        9, 1997
                             September 30,       September 30,       Through
                           __________________  ___________________  September
                             2003      2002      2003       2002     30, 2003
                           ________  ________  ________  _________   _________
REVENUE                    $     -   $     -   $     -   $ 11,882    $ 99,820

COST OF GOODS SOLD               -         -         -     47,900     118,168
                           ________  ________  ________  _________   _________
GROSS PROFIT (LOSS)              -         -         -    (36,018)    (18,348)

EXPENSES:
  General and
    administrative             955     1,195     4,635      4,990      39,888
                           ________  ________  ________  _________   _________

LOSS BEFORE OTHER INCOME
  (EXPENSE)                   (955)   (1,195)   (4,635)   (41,008)    (58,236)

OTHER INCOME (EXPENSE)
  Other income                   -         -         -          -       1,000
  Interest expense            (419)     (415)   (1,235)    (1,171)     (5,497)
                           ________  ________  ________  _________   _________
   Total Other
     Income (Expense)         (419)     (415)   (1,235)    (1,171)     (4,497)
                           ________  ________  ________  _________   _________

LOSS BEFORE INCOME TAXES    (1,374)   (1,610)   (5,870)   (42,179)    (62,733)

CURRENT TAX EXPENSE              -         -         -          -       1,905

DEFERRED TAX EXPENSE             -         -         -          -           -
                           ________  ________  ________  _________   _________
LOSS BEFORE CHANGE IN
  ACCOUNTING PRINCIPLE      (1,374)   (1,610)   (5,870)   (42,179)    (64,638)

CUMULATIVE EFFECT OF CHANGE
  IN ACCOUNTING PRINCIPLE        -         -         -          -        (750)
                           ________  ________  ________  _________   _________

NET LOSS                   $(1,374)  $(1,610)  $(5,870)  $(42,179)   $(65,388)
                           ________  ________  ________  _________   _________

LOSS PER COMMON SHARE:
  Continuing operations    $  (.00)  $  (.00)  $  (.00)  $   (.02)   $   (.03)
  Cumulative effect of
  change in accounting
  principle                      -         -         -          -        (.00)
                           ________  ________  ________  _________   _________

  Net Loss Per
    Common Share           $  (.00)  $  (.00)  $  (.00)  $   (.02)   $   (.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
                                                                   From
                                                                 Inception
                                               For the Nine     on September
                                               Months Ended        9, 1997
                                               September 30,      Through
                                           ____________________  September
                                              2003      2002      30, 2003
                                           _________  _________   _________
Cash Flows from Operating Activities:
 Net loss                                  $ (5,870)  $(42,179)   $(65,388)
 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:
   Decrease in inventory                          -     47,000           -
   Increase in accrued interest
     - related party                          1,235      1,171       4,314
                                           _________  _________   _________
        Net Cash (Used) by
        Operating Activities                 (4,635)     5,992     (60,074)
                                           _________  _________   _________

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                  -      4,250      16,450
 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                        -      4,250      65,812
                                           _________  _________   _________

Net Increase (Decrease) in Cash              (4,635)    10,242       4,738

Cash at Beginning of Period                   9,373        166           -
                                           _________  _________   _________

Cash at End of Period                       $ 4,738   $ 10,408    $  4,738
                                           _________  _________   _________

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 nine months ended September 30, 2003:
     None

  For the nine months ended September 30, 2002:
     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
  buys  and  sells investments in wine and champagne.  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 September 30, 2003 and 2002 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, 2002 audited financial statements.
  The  results  of operations for the periods ended September 30,  2003  and
  2002  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.

  Inventory - Inventory is carried at the lower of cost or market using  the
  first-in, first-out (FIFO) method.

  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 6].

  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. 146, "Accounting for Costs Associated with Exit  or
  Disposal  Activities", SFAS No. 147, "Acquisitions  of  Certain  Financial
  Institutions  - an Amendment of FASB Statements No. 72 and  144  and  FASB
  Interpretation   No.  9",  SFAS  No.  148,  "Accounting  for   Stock-Based
  Compensation - Transition and Disclosure - an Amendment of FASB  Statement
  No.  123",  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. 146, 147, 148, 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 September
  30,   2003  have  been  reclassified  to  conform  to  the  headings   and
  classifications used in the September 30, 2003 financial statements.

NOTE 2 - 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 September 30, 2003 and December  31,
  2002.

  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).

  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 3 - 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 September 30, 2003, an operating loss  carryforward  of
  approximately $74,900, which may be applied against future taxable  income
  and which expires in various years through 2023.

                                   -6-
<PAGE>

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

             NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 3 - INCOME TAXES [Continued]

  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  $11,200 and $12,600 as of September 30, 2003  and  December
  31, 2002, respectively, with an offsetting valuation allowance of the same
  amount.   The change in the valuation allowance for the nine months  ended
  September 30, 2003 is approximately $1,400.

NOTE 4 - 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 inventory.  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 5 - 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.

  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.

  Shareholder  Loans  -  At  September 30, 2003 and  December  31,  2002,  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 nine  months  ended
  September 30, 2003 and 2002 amounted to $1,235 and $1,171, respectively.

  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.

                                   -7-
<PAGE>

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

             NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

NOTE 6 - LOSS PER SHARE

  The  following data show the amounts used in computing loss per share  for
  the periods presented:
                                                                    From
                                                                   Inception
                           For the Three        For the Nine      On September
                           Months Ended         Months Ended        9, 1997
                           September 30,        September 30,       Through
                       ____________________  ____________________  September
                          2003      2002        2003       2002     30, 2003
                       _________  _________  _________  _________  _________
  Loss from
  continuing
  operations
  (numerator)          $ (1,374)  $ (1,610)  $ (5,870)  $(42,179)  $(64,638)

  Cumulative effect
  of change in
  accounting
  principle
  (numerator)                 -          -          -          -       (750)
                       _________  _________  _________  _________  _________
  Loss available
  to common
  shareholders
  (numerator)          $ (1,374)  $ (1,610)  $ (5,870)  $(42,179)  $(65,388)
                       _________  _________  _________  _________  _________
  Weighted average
  number of common
  shares outstanding
  during the period
  used in loss per
  share (denominator)  2,000,000  2,000,000  2,000,000  2,000,000  1,993,106
                       _________  _________  _________  _________  _________

  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 7 - 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.


                                    -8-
<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 has no significant assets. 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 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 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.

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

<PAGE>

          32. Section 1350 Certifications

     (b)  Reports on Form 8-K.  A Form 8-K was filed October 7, 2003
          reporting Changes in Registrant's Certifying Accountant during the
          quarter for which this report is filed. Effective September 22,
          2003, David T. Thomson P.C. resigned as the registrant's
          certifying accountant. Effective October 6, 2003, Pritchett,
          Siler, & Hardy, P.C. was selected as the registrant's new
          certifying accountant for the year ended December 31, 2003.

<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: November 12, 2003       by:     /s/ Pam Jowett
                                   Pam Jowett, President & Director