# 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, 2005
| |                                                      

|        |                                                                                                 
|------- | ------------------------------------------------------------------------------------------------
|[     ] | TRANSITION REPORT
        PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|        |                                                                                                 

| |                                                        
| | -------------------------------------------------------
| | For the transition period from __________ to __________
| |                                                        

Commission File No.
000-28409

WALLIN ENGINES CORPORATION
        (Name of small business issuer in its charter)

|                                                                       |  |                                  
|---------------------------------------------------------------------- |  | ---------------------------------
|Nevada                                                                 |  | 84-1416078                       
|(State or Other Jurisdiction of
        Incorporation or Organization) |  | (IRS Employer Identification No.)

|5711 Holladay
        Blvd., Salt Lake City, Utah 84121
|-------------------------------------------------------
|(Address of Principal Executive Offices and Zip Code)  

|(801) 278-2033
(Issuers telephone number)
|------------------------------------------

|Not Applicable
        (Former name, address and 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 Exchange Act during
the preceding 12 months (or for such shorter period that the issuer was required to file
such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes [ X] No [    ]

APPLICABLE ONLY TO ISSUERS INVOLVED
IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Check whether
the registrant has filed all documents and reports required to be filed by Sections 12,
13, or 15(d) of the Exchange Act subsequent to the distribution of securities under a
plan confirmed by a court. Yes [    ]  No  [    ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

State the number of shares
outstanding of each of the issuers classes of common equity: As of March 31, 2005, there were
        20,037,500 shares of common stock outstanding.

Transitional Small
Business Format:  Yes [    ]  No [ X ]

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FORM 10-QSBWALLIN ENGINES
CORPORATION

|         |                                                                                                                                                                              |     
|-------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----
|         |                                                                                                                                                                              | Page
|         |                                                                                                                                                                              |     
|PART I.  | Item 1.  Financial Information                                                                                                                                               | 3   
|         |                                                                                                                                                                              |     
|         | Condensed Balance Sheets as of March 31, 2005 (Unaudited)
         and December 31, 2004                                                                                     | 3   
|         |                                                                                                                                                                              |     
|         | Condensed Statements of Operations for the Three Months
        Ended March 31, 2005 and 2004 and From Inception
        on July 18, 1997 Through March 31, 2005 (Unaudited) | 4   
|         |                                                                                                                                                                              |     
|         | Statements of Cash Flows for the Three Months Ended
        March 31, 2005 and 2004 and From Inception on
        July 18, 1997 Through March 31, 2005 (Unaudited)           | 5   
|         |                                                                                                                                                                              |     
|         | Notes to the Financial Statements                                                                                                                                            | 6   
|         |                                                                                                                                                                              |     
|         | Item 2.  Management's
               Discussion and Analysis or Plan of Operation                                                                                            | 7   
|         |                                                                                                                                                                              |     
|         | Item 3.  Controls and Procedures                                                                                                                                             | 8   
|         |                                                                                                                                                                              |     
|PART II. | Other Information                                                                                                                                                            | 8   
|         |                                                                                                                                                                              |     
|         | Item 5.  Other Information                                                                                                                                                   | 8   
|         |                                                                                                                                                                              |     
|         | Item 6.  Exhibits                                                                                                                                                            | 8   
|         |                                                                                                                                                                              |     
|         | Signatures                                                                                                                                                                   | 9   

2

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WALLIN ENGINES
CORPORATION [A Development Stage Company]Condensed Balance SheetMarch 31, 2005(Unaudited)

# ASSETS

|                                             | March 31,2005(Unaudited) | December 31, 2004(Audited)
|-------------------------------------------- | ------------------------ | --------------------------
|Assets                                       |                          |                           
|Current Assets                               |                          |                           
|                                            
|Total Current Assets                         |                          |                           
|                                            
|Total Assets                                 |                          |                           
|                                            
|                                            
|LIABILITIES AND STOCKHOLDERS' DEFICIT       
|                                            
|Liabilities                                  |                          |                           
|Current Liabilities                          |                          |                           
|Accounts Payable                             |                          |                           
|Related Party Payable                        |                          |                           
|Notes Payable                                |                          |                           
|                                            
|Total Current Liabilities                    |                          |                           
|                                            
|Total Liabilities                            |                          |                           
|                                            
|Stockholders' Deficit                        |                          |                           
|Common Stock - 45,000,000 shares authorized, |                          |                           
|par value of $0.001 per share, 20,037,500    |                          |                           
|shares issued and outstanding                |                          |                           
|Additional Paid-in Capital                   |                          |                           
|Accumulated deficit during development stage |                          |                           
|                                            
|Total Stockholders' Deficit                  |                          |                           
|                                            
|Total Liabilities and Stockholders' Deficit  |                          |                           
|                                            

See accompanying notes
to the financial statements

3

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WALLIN ENGINES
CORPORATION [A Development Stage Company]Condensed Statements of Operations
        For The Three Months Ended March 31, 2005 and 2004 and from Inception [May 12, 1987] 
        through March 31, 2005(Unaudited)

|                                                    | For the ThreeMonthsEnded March
        31, 2005 | For the ThreeMonthsEnded March
        31, 2004 | FromInception[07/18/1997]through03/31/05
|--------------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------
|Revenues                                            |                                                 |                                                 | $                                       
|                                                    |                                                 |                                                 |                                         
|General and administrative expenses                 |                                                 |                                                 |                                         
|                                                   
|Income (loss) from operations                       |                                                 |                                                 |                                         
|                                                    |                                                 |                                                 |                                         
|Other income (expense):                             |                                                 |                                                 |                                         
|                                                    |                                                 |                                                 |                                         
|(Interest expense)                                  |                                                 |                                                 |                                         
|                                                   
|Income (loss) from continuing operations            |                                                 |                                                 |                                         
|before income taxes                                 |                                                 |                                                 |                                         
|                                                    |                                                 |                                                 |                                         
|Current Year
        Provision for Income Taxes     |                                                 |                                                 |                                         
|                                                   
|Net Income (Loss) from Continuing Operations        |                                                 |                                                 |                                         
|                                                    |                                                 |                                                 |                                         
|Gain (Loss) from
        Discontinued Operations    |                                                 |                                                 |                                         
|[net of tax] [Note 7]                               |                                                 |                                                 |                                         
|                                                   
|Net Income (Loss)                                   |                                                 |                                                 | $                                       
|                                                   
|Loss Per Share
        from Continuing Operations   |                                                 |                                                 |                                         
|                                                    |                                                 |                                                 |                                         
|Loss Per Share
        from Discotninued Operations |                                                 |                                                 |                                         
|                                                    |                                                 |                                                 |                                         
|Loss Per Share                                      |                                                 |                                                 |                                         
|                                                   
|Weighted Average
        Shares Outstanding         |                                                 |                                                 |                                         
|                                                   

See accompanying notes
to the financial statements

4

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WALLIN ENGINES
CORPORATION[A Development Stage
Company]Statements of Cash
FlowsFor The Three Months Ended March 31, 2005 and 2004 and from Inception [May 12, 1987]
through March 31, 2005(Unaudited)

|                                                              | For the year endedDecember 31, | Period fromInception
        [07/18/1997]Through
|------------------------------------------------------------- | ------------------------------ | ------------------------------------------------
|
|CASH FLOWS FROM OPERATING ACTIVITIES:                         |                                |                                                 
|Loss from continuing operations                               |                                |                                                 
|Loss from discontinued operations                             |                                |                                                 
|Adjustments to reconcile net loss
        to net cash used by |                                |                                                 
|operating activities:                                         |                                |                                                 
|Stock issued for services                                     |                                |                                                 
|Non-cash expenses                                             |                                |                                                 
|(Increase) decrease in accounts payable                       |                                |                                                 
|Increase (decrease) in accounts payable                       |                                |                                                 
|Increase (decrease) in accrued interest                       |                                |                                                 
|                                                             
|Net Cash from Operating Activities                            |                                |                                                 
|                                                             
|CASH FLOWS FROM FINANCING ACTIVITIES                          |                                |                                                 
|Proceeds from issuance of common stock                        |                                |                                                 
|Proceeds note payable - related party                         |                                |                                                 
|                                                             
|Net cash from Financing Activities                            |                                |                                                 
|                                                             
|INCREASE (DECREASE) IN CASH AND                               |                                |                                                 
|CASH EQUIVALENTS:                                             |                                |                                                 
|                                                             
|CASH AND CASH EQUIVALENTS AT                                  |                                |                                                 
|BEGINNING OF PERIOD                                           |                                |                                                 
|                                                             
|CASH AND CASH EQUIVALENTS AT END OF PERIOD                    |                                |                                                 
|                                                             
|SUPPLEMENTAL SCHEDULE OF CASH FLOW ACTIVITIES:                |                                |                                                 
|Cash Paid For:                                                |                                |                                                 
|Interest                                                      |                                |                                                 
|                                                             
|Income taxes                                                  |                                |                                                 
|                                                             
|Non-cash investing and financing activities                   |                                |                                                 
|Settlement of liabilities with Company Assets                 |                                |                                                 
|                                                             
|Issued common stock for expenses                              |                                |                                                 
|                                                             
|Issued common stock for services                              |                                |                                                 
|                                                             

See accompanying notes
to the financial statements

5

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WALLIN ENGINES
CORPORATION[A Development Stage Company]Notes to Condensed Financial StatementsMarch
31, 2005

NOTE 1  BASIS OF
PRESENTATION

| | The
accompanying financial statements have been prepared without audit, pursuant to the rules
and regulations of the Security and Exchange Commission. The interim financial statements
reflect all adjustments which, in the opinion of management, are necessary to present a
fair statement of the results for the period.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 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 Annual
Report on Form 10-KSB for the year ended December 31, 2004. The results of operation for
period ended March 31, 2005 are not necessarily indicative of the operating results for
the full years.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

NOTE 2  GOING
CONCERN

| | The
Company does not have significant assets, nor has it established operations and has
accumulated losses since inception. These factors raise substantial doubt about the
Companys ability to continue as a going concern. It is the intent of the Company to
seek a merger with an existing, well-capitalized operating company. The financial
statements do not include any adjustments that might result from the outcome of this
uncertainty.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

NOTE 3  RELATED
PARTY PAYABLES

| | The
Company owes a related party on an unsecured promissory note. During the period, the note
accrued interest of $152 resulting in a balance of $6,923 as of March 31, 2005.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

NOTE 4  SUBSEQUENT
EVENT

| | On
April 21, 2005, the Company received a loan in the amount of $5,000. The loan is in the
form of an unsecured promissory note. The note is payable in full with accrued interest
on September 30, 2005. The Note accrues interest at a rate of 10% per annum. The note
proceeds were deposited with an attorney and were subsequently used to satisfy the Companys
accounts payable and pay operating costs.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

6

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# Item 2.
Managements Discussion and Analysis or Plan of Operation

# Plan of Operation

| | Wallin
Engines Corporation (the Company) had no operations and generated no revenue
for the three-month periods ended March 31, 2005 and 2004. The Companys plan is to
seek a business venture in which to participate. The selection of a business opportunity
in which to participate is complex and extremely risky and will be made by management in
the exercise of its business judgment. There is no assurance that the Company will be
able to identify and acquire any business opportunity that will ultimately prove to be
beneficial to the Company and its shareholders.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The
Company is pursuing its search for a business opportunity primarily through its officers
and directors, although other sources, such as professional advisors, securities
broker-dealers, venture capitalists, members of the financial community, and others, may
present unsolicited proposals. In that regard, Aspen Ridge Corporation, an affiliate of a
stockholder, First Avenue Ltd., has assisted the Company in locating debt financing and
has, and will likely continue to, identify prospective business ventures for the Company
to evaluate. Aspen Ridge Corporation is owned and controlled by Ken Kurtz of Salt Lake
City, Utah, who is also the manager and a principal owner of and First Avenue LLC. There
is no agreement or arrangement for compensating any of these persons for their
assistance, and the Company believes they provide this assistance in consideration of the
prospective benefit they may obtain through stock ownership. In the future the Company
may compensate persons who identify a business venture in which the Company participates.
Such compensation may take various forms, including one-time cash payments, payments
based on a percentage of revenues or product sales volume, payments involving issuance of
securities (including those of the Company), or any combination of these or other
compensation arrangements.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The
activities of the Company are subject to several significant risks that arise primarily
as a result of the fact that the Company has no specific business and may acquire or
participate in a business opportunity based on the decision of management which will, in
all probability, act without the consent, vote, or approval of the Companys
shareholders.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Although
the Company has no operations, it did incur general and administrative expenses of $4,633
in the three-month period ended March 31, 2005, compared to no such expenses in the same
period in 2004. The substantial increase in such expenses is attributable to professional
fees and other costs incurred to prepare financial statements and periodic reports filed
by the Company with the Securities and Exchange Commission in order to comply with the
reporting requirements under the Securities Exchange Act of 1934. The Company also
incurred interest expense of $277 in the three months ended March 31, 2005 and $152 in
the same period in 2004. Funds required to prepare and file such reports and pay other
expenses of the Company were obtained through two loans from an unrelated third party,
the first for $5,000 on December 31, 2004 and the second for $5,000 on April 21, 2005.
Both loans are due September 30, 2005 and bears interest at the rate of 10 percent per
annum.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | At
March 31, 2005 the Company had a related party payable to Aspen Ridge Corporation in the
amount of $6,923, and a note payable to Sterling Mining Company of $5,000. On April 21,
2005, the Company obtained an additional loan for $5,000 from Sterling Mining Company
that is due September 30, 2005. The Company does not have sufficient cash to pay these
obligations and other ongoing expenses of the Company for the next twelve months.
Management will attempt to raise capital for its current operational needs through loans,
debt financing, equity financing or a combination of financing options. However, there
are no existing understandings, commitments or agreements for extension of outstanding
notes or an infusion of capital, and there are no assurances to that effect. Moreover,
the Companys need for capital may change dramatically if and during that period, it
acquires an interest in a business opportunity. Unless the Company can obtain additional
financing, its ability to continue as a going concern is doubtful.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

7

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# Forward-Looking
Statement Notice

| | When
used in this report, the words may, will, expect,anticipate, continue, estimate, project,intend, and
similar expressions are intended to identify forward-looking statements within the
meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities
Exchange Act of 1934 regarding events, conditions, and financial trends that may affect
the Companys future plans of operations, business strategy, operating results, and
financial position. Persons reviewing this report are cautioned that any forward-looking
statements are not guarantees of future performance and are subject to risks and
uncertainties and that actual results may differ materially from those included within
the forward-looking statements as a result of various factors.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Item 3. Controls and
Procedures

| | As
of March 31, 2005 an evaluation was performed under the supervision and with the
participation of the Companys management, including the Chief Executive Officer and
Chief Financial Officer, of the effectiveness of the design and operation of the Companys
disclosure controls and procedures. Based on that evaluation, the Companys
management, including the Chief Executive Officer and Chief Financial Officer, concluded
that the Companys disclosure controls and procedures were effective. There have
been no significant changes in the Companys internal controls or in other factors
that could significantly affect internal controls subsequent to the date of the
evaluation.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# PART II. OTHER
INFORMATION

# Item 5. Other Information

| | On
April 21, 2005, the Company issued a note in the principal amount of $5,000 to Sterling
Mining Company, a publicly held company, that is due September 30, 2005. The note accrues
interest at 10 percent per annum. The note was issued in exchange for cash used to cover
general and administrative expenses of the Company and to pay outstanding liabilities.
Sterling Mining made this loan for the purpose of providing capital the Company requires
to remain current in its reporting obligations under the Securities Exchange Act of 1934
and pay other expenses. Management has begun preliminary negotiations with Sterling
Mining with respect to a potential acquisition or business reorganization, but as of the
date of this report no agreements, understanding, or arrangement has been reached
regarding a prospective transaction between the parties.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Item 6. Exhibits.

| | Exhibits:
Copies of the following documents are included or furnished as exhibits to this report
pursuant to Item 601 of Regulation S-B.
| | ----------------------------------------------------------------------------------------------------------------------------------------

|        |          |                                                                                           
|------- | -------- | ------------------------------------------------------------------------------------------
|Exhibit | SEC Ref. | Title of Document                                                                         
|No.     | No.      |                                                                                           
|       
|31.1    | 31       | The certification required by Rule 13a-14(a) or Rule 15d-14(a)                            
|       
|32.1    | 32       | The certifications required by Rule 13a-14(b) or Rule 15d-14(b) and 18 U.S.C. Section 1350

8

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# SIGNATURES

| | In
accordance with the Exchange Act, the registrant caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
| | -----------------------------------------------------------------------------------------------------------------------------------------------

| |                           
| | --------------------------
| | WALLIN ENGINES
CORPORATION

|                   |  |     |  |                                                                            | 
|------------------ |  | --- |  | -------------------------------------------------------------------------- | 
|Date: May 11, 2005 |  | By: |  | /s/ M. Stephen Brown                                                       | 
|                   |  |     |  | M. Stephen Brown    Chief
Executive Officer and    Chief Financial Officer | 

9

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