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:  March 31, 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 March 31, 2003:
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

              THREE MONTHS ENDED MARCH 31, 2003
                         (Unaudited)

                             AND

                YEAR ENDED DECEMBER 31, 2002

<PAGE>

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

               BALANCE SHEETS

                   ASSETS

                                                     March 31,   December 31,
                                                       2003          2002
                                                   ____________  ____________
                                                    (Unaudited)

CURRENT ASSETS:
     Cash                                               $7,408       $9,373
                                                   ____________  ____________

          Total Current Assets                           7,408        9,373
                                                   ____________  ____________

TOTAL ASSETS                                            $7,408       $9,373
                                                   ============  ============

    LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
     Accounts payable                                     $780           $-
     Accrued interest payable                            3,484        3,079
     Stockholder loan payable                           16,450       16,450
                                                   ____________  ____________

          Total Current Liabilities                     20,714       19,529
                                                   ____________  ____________

STOCKHOLDERS' EQUITY:
     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                    2,000        2,000
          outstanding both periods
     Capital in excess of par value                     47,362       47,362
     Earnings (deficit) accumulated during             (62,668)     (59,518)
          the development stage
                                                   ____________  ____________

          Total Stockholders' Equity (Deficit)         (13,306)     (10,156)
                                                   ____________  ____________

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY              $7,408       $9,373
                                                   ============  ============

                  See Notes to Financial Statements.
<PAGE>

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

    STATEMENTS OF OPERATIONS
           (Unaudited)

                                                    For the Three
                                                     Months Ended   Cumulative
                                                       March 31,    During the
                                                  _________________Development
                                                    2003      2002    Stage
                                                  ____________________________

REVENUE
    Sales                                             $-        $-    $99,820
     Cost of goods sold                                -         -   (118,168)
                                                  ____________________________

          Gross profit (loss)                          -         -    (18,348)
                                                  ____________________________

EXPENSES
     Professional fees                             2,710     2,865     21,166
     Fees and licenses                                35        25      2,106
     Costs - warrant registration                      -         -     14,476
     Amortization expense                              -         -        250
                                                  ____________________________

          Total expenses                           2,745     2,890     37,998
                                                  ____________________________

INCOME (LOSS) FROM OPERATIONS                     (2,745)   (2,890)   (56,346)

OTHER INCOME (EXPENSE)
     Other income                                      -         -      1,000
     Interest expense                               (405)     (352)    (4,667)
                                                  ____________________________

NET INCOME BEFORE INCOME TAXES                    (3,150)   (3,242)   (60,013)

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

NET INCOME (LOSS) BEFORE CUMULATIVE
EFFECT OF ACCOUNTING CHANGE                       (3,150)   (3,242)   (61,918)

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

NET INCOME (LOSS)                                $(3,150)  $(3,242)  $(62,668)
                                                  ============================

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

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

EARNINGS (LOSS) PER SHARE                        $ (0.00)  $ (0.00)  $  (0.03)
                                                  ============================
WEIGHTED AVERAGE SHARES
OUTSTANDING                                     2,000,000 2,000,000  1,992,537
                                                ==============================

                  See Notes to Financial Statements.
<PAGE>

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

       STATEMENTS OF CASH FLOWS
             (Unaudited)

                                                    For the Three
                                                     Months Ended   Cumulative
                                                       March 31,    During the
                                                  _________________Development
                                                    2003      2002    Stage
                                                  ____________________________

CASH FLOWS FROM OPERATING ACTIVITIES
     Sales                                            $-        $-    $99,820
     Organization costs                                -         -     (1,000)
     Cash paid for inventory and related costs         -         -   (118,168)
     Cash paid to suppliers and others            (1,965)   (3,790)   (36,157)
     Cash paid for taxes                               -         -     (1,905)
     Cash paid for interest                            -         -       (994)
                                                  ____________________________
          Net Cash Provided(Used) by
          Operating Activities                    (1,965)   (3,790)   (58,404)
                                                  ____________________________

CASH FLOWS FROM INVESTING ACTIVITIES                   -         -          -
                                                  ____________________________

CASH FLOWS FROM FINANCING ACTIVITIES
     Stockholder loan                                  -     3,750     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 from short term advance and loan         -         -     27,350
     Loan payment                                      -         -    (27,350)
                                                  ____________________________
          Net Cash Provided(used) by
          Financing Activities                         -     3,750     65,812
                                                  ____________________________

NET INCREASE (DECREASE) IN CASH                   (1,965)      (40)     7,408

CASH  -  BEGINNING OF PERIOD                       9,373       166          -
                                                  ____________________________

CASH  -  END OF PERIOD                            $7,408      $126     $7,408
                                                  ============================
RECONCILIATION OF NET INCOME(LOSS) TO NET CASH
     PROVIDED (USED) BY OPERATING ACTIVITIES

NET INCOME (LOSS)                                $(3,150)  $(3,242)  $(62,668)
                                                  ____________________________
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) decrease in inventory                 -      (900)         -
      (Increase) in organization costs                 -         -     (1,000)
      (Decrease) in accounts payable                 780         -        780
      Increase (decrease) in accrued interest        405       352      3,484
                                                  ____________________________

          Total Adjustments                        1,185      (548)     4,264
                                                  ____________________________

NET CASH PROVIDED(USED) BY OPERATING ACTIVITIES  $(1,965)  $(3,790)  $(58,404)
                                                  ============================

                  See Notes to 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  March  31,  2003  and  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,  2002  audited
     financial  statements.  The results of  operations  for
     the  periods  ended March 31, 2003  and  2002  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  March  31,  2003,  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 March 31, 2003 was $18,348  and  the
     Company  from inception to March 31, 2003 has  a  total
     loss   of   $62,668.   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 $7,408.  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: May 6, 2003             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: May 6, 2003             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: May 6, 2003        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.