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, 2000

                                  OR

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

                  COMMISSION FILE NUMBER:  333-83125

                     FIRST GROWTH INVESTORS, INC.
        (Exact name of registrant as specified in its charter)


           NEVADA                                  87-0569467
     (State or other jurisdiction                 (I.R.S. Employer
     of incorporation or organization)            Identification No.)


           2508 South 1300 East, Salt Lake City, Utah 84106
               (Address of principal executive offices)

                            (801) 466-7808
         (Registrant's telephone number, including area code)



     (Former name, former address and former fiscal year, if changed since
last report)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was
required to file such report(s),                      YES [X]  NO [  ]

and (2) has been subject to such filing requirements for the past 90 days.
                                                      YES [X]  NO [  ]

The number of $.001 par value common shares outstanding at September 30, 2000:
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

NINE MONTHS ENDED SEPTEMBER 30, 2000 AND YEAR ENDED DECEMBER 31, 1999

WITH

INDEPENDENT ACCOUNTANT'S REVIEW REPORT






<PAGE>






INDEPENDENT ACCOUNTANT'S REVIEW REPORT


Board of Directors and Stockholders
FIRST GROWTH INVESTORS, INC.

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

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

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



Salt Lake City,  Utah
November 8, 2000



<PAGE>

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

CONDENSED BALANCE SHEET

ASSETS

                                                     December 31,
                                        September 30,
                                             2000        1999
                                          _______________________
                                          (Unaudited)
CURRENT ASSETS:
  Cash in bank                                   $73      $10,703
  Deferred costs - warrant registration       14,476       14,476
  Inventory                                   45,500       45,500
                                          __________ ____________

    Total Current Assets                      60,049       70,679
                                          __________ ____________

TOTAL ASSETS                                 $60,049      $70,679
                                          ========== ============

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accounts payable                                $0           $0
  Accrued interest payable                       327           70
  Income taxes payable                             0        1,905
  Stockholder loan payable                     4,500        3,000
  Short term advance                               0        6,100
                                          _______________________

    Total Current Liabilities                  4,827       11,075
                                          __________ ____________

STOCKHOLDERS' EQUITY:
  Preferred stock; $.001 par value,
    1,000,000 shares authorized, no shares         0            0
    issued and outstanding
  Common stock; $.001 par value,
    24,000,000 shares authorized, 2,000,000
    and 2,000,000 shares issued and
    outstanding respectively                   2,000        2,000
  Capital in excess of par value              47,362       47,362
  Earnings(deficit) accumulated during the     5,860       10,242
    development stage                     __________ ____________

    Total Stockholders' Equity                55,222       59,604
                                          __________ ____________

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY   $60,049      $70,679
                                          ========== ============













See Notes to Condensed Financial Statements.
<PAGE>

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

(Unaudited)


                              For the Three   For the Nine       Cumulative
                              Months Ended    Months Ended       During the
                              September 30,   September 30,     Development
                              2000     1999   2000     1999        Stage

REVENUE
  Sales                         $0      $0       $0 $76,138        $87,938
  Costs of goods sold            0  (1,500)       0 (56,088)       (70,268)
                             _______________________________________________

    Gross profit                 0  (1,500)       0  20,050         17,670
                             _______________________________________________

EXPENSES
  Professional fees            857     395    3,849   2,200          6,543
  Fees and licenses            148      62      289      77          1,875
  Amortization expense           0      50        0     150            250
                             _______________________________________________

    Total expenses           1,005     507    4,138   2,427          8,668
                             _______________ _______________________________

INCOME(LOSS) FROM           (1,005) (2,007)  (4,138) 17,623          9,002
OPERATIONS                   _______________ _______________________________

OTHER INCOME AND
(EXPENSE)
  Interest expense            (103)      0     (268)      0         (1,511)
  Other income                  24       0       24       0          1,024
                             _______________ _______________________________

NET INCOME BEFORE TAXES     (1,084) (2,007)  (4,382) 17,623          8,515

  Provision for income taxes     0     301        0  (2,644)        (1,905)
                             _______________________________________________

NET INCOME (LOSS) BEFORE
CUMULATIVE EFFECT OF
ACCOUNTING CHANGE           (1,084) (1,706)  (4,382) 14,979          6,610
  Cumulative effect of
  accounting change for          0       0        0       0           (750)
  organization costs         _______________________________________________

NET INCOME (LOSS)          $(1,084)$(1,706)$(4,382) $14,979         $5,860
                             ===============================================

EARNINGS(LOSS) PER SHARE
BEFORE ACCOUNTING CHANGE     $0.00   $0.00   $0.00  $   .01     $     0.00

CUMULATIVE EFFECT OF
ACCOUNTING CHANGE            $0.00   $0.00   $0.00  $   .00          $0.00
                             _______________________________________________

INCOME (LOSS) PER SHARE      $0.00   $0.00   $0.00  $   .01     $     0.00
                             ===============================================









See Notes to Condensed Financial Statements.
<PAGE>

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

CONDENSED STATEMENT OF CASH FLOWS
(Unaudited)

                                   For the Three  For the Nine     Cumulative
                                   Months Ended   Months Ended     During the
                                   September 30,  September 30,   Development
                                    2000    1999   2000   1999        Stage

CASH FLOWS FROM OPERATING ACTIVITIES
  Sales                              $0     $0     $0  $30,420       $87,938
  Organization costs                  0      0      0        0        (1,000)
  Cash paid for inventory and         0 (1,500)     0   (1,500)     (115,698)
    related costs
  Cash paid to suppliers and others  (982)(13,239)(6,030)(15,059)     (9,319)
  Cash paid for interest              0      0      0        0          (984)
                                 ____________________________________________

     Net Cash Provided(Used)         (982)(14,739)(6,030) 13,861     (39,063)
     by Operating Activities     ______________ _____________________________

CASH FLOWS FROM INVESTING ACTIVITIES      0     0      0       0           0
                                 ______________ _______________ _____________

CASH FLOWS FROM FINANCING ACTIVITIES
  Stockholder loan                    1,000     0  1,500       0       4,500
  Sale of common stock                    0     0      0       0      55,050
  Direct costs of common stock sale       0     0      0       0      (5,688)
  Direct costs of warrants registration    (5,000)     0  (5,000)    (14,476)
  Proceeds from short term                0 1,000      0   1,000      27,100
   advance and loan
  Loans and other debt payments           0     0 (6,100)(11,000)    (27,350)
                                 ______________ _______________ _____________

     Net Cash Provided(Used)          1,000(4,000)(4,600)(15,000)     39,136
     by Financing Activities     ______________ _____________________________

NET INCREASE (DECREASE) IN CASH         18(18,739)(10,630)(1,139)         73

CASH  -  BEGINNING OF PERIOD            55 18,834 10,703   1,234           0
                                 ______________ _______________ _____________

CASH  -  END OF PERIOD                 $73    $95    $73     $95         $73
                                 ============================================

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

NET INCOME (LOSS)                  $(1,084)$(1,706)$(4,383)$14,979    $5,860
                                 ______________ _____________________________



Adjustments to reconcile net
income(loss) to net cash provided
(used) by operating activities
  Amortization of organization costs     0     50      0      150        250
  Cumulative change in accounting                                        750
   principle
  Change in assets and liabilities
   (Increase)decrease in accounts        0 45,718      0        0          0
    receivable
   (Increase)decrease in inventory       0(58,500)     0   (3,912)   (45,500)
   (increase)decrease in prepaid         0      0      0        0          0
    expenses
   (Increase) in organization costs      0      0      0        0     (1,000)
   Increase(decrease) in accounts        0      0      0        0          0
    payable
   Increase(decrease) in accrued       102      0    258        0        327
    interest
   Increase(decrease) in income taxes    0  (301) (1,905)    2,644         0
    payable
   Increase in note payable              0      0      0        0        250
                                 ____________________________________________

               Total Adjustments       102 (13,033)(1,647)  (1,118)  (44,923)
                                 ______________ _____________________________

NET CASH(USED)BY OPERATING ACTIVITIES $(982)$(14,739)$(6,030)$13,861 $(39,063)

See Notes to Condensed Financial Statements.
<PAGE>

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

NOTES TO UNAUDITED FINANCIAL STATEMENTS


NOTE 1  -  CONDENSED FINANCIAL STATEMENTS

	The accompanying financial statements have been prepared by the
Company without audit.  In the opinion of management, all
adjustments (which include only normal recurring adjustments)
necessary to present fairly the financial position, results of
operation and cash flows at September  30, 2000 and for all
periods presented have been made.

	Certain information and footnote disclosures normally included in
financial statements prepared in accordance with generally
accepted accounting principles have been condensed or omitted.  It
is suggested that these condensed financial statements be read in
conjunction with the financial statements and notes thereto
included in the Company's December 31, 1999 audited financial
statements.  The results of operations for the periods ended
September 30, 2000 and 1999 are not necessarily indicative of the
operating results for the full year.








<PAGE>


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

     The Company was incorporated September 9, 1997. Upon inception, the
Company issued 1,750,000 shares of common stock to its founding stockholders.
On October 15, 1997, the Company commenced a public offering of up to 250,000
shares of its common stock, in reliance upon Rule 504 of Regulation D,
promulgated by the U.S. Securities & Exchange Commission under the Securities
Act of 1933.  The offering closed in November, 1997.  Pursuant thereto, the
Company sold 250,000 shares, increasing the total issued and outstanding
common stock to 2,000,000 shares.  In July, 1999, the Company filed a
registration statement on Form SB-2 with the U.S. Securities & Exchange
Commission under the Securities Act of 1933, to register the distribution and
exercise of warrants.  This registration statement was declared effective on
October 8, 1999.  At that time the Company became subject to the information
requirements of the Securities Exchange Act of 1934.  Accordingly, the Company
now files annual and quarterly reports and other information with the
Commission.  The warrants were distributed as soon as practicable after the
date of the prospectus to common stockholders of record as of September 30,
1999. No securities have yet been sold pursuant to exercise of warrants in
this offering.

PLAN OF OPERATIONS.

     Management's plan of operation for the next twelve months is to continue
using existing capital and any funds from exercise of warrants in the offering
to acquire another inventory of select wines to hold for investment and
resale, and also to provide general working capital during the next twelve
months.  Under this plan of operations First Growth Investors has no specific
capital commitments and the timing of capital expenditures will depend upon
the receipt of additional funds from warrant exercise or elsewhere, none of
which is assured.  Cash flows will also depend upon the timing of sale of the
wines, which is also not assured, and receipt of the proceeds from these
sales. We have not determined how long existing capital can satisfy any cash
requirements, but we do not presently anticipate that we will have to raise
additional funds within the next twelve months.  While we do not anticipate
any need to raise additional capital, we believe First Growth Investors will
have the opportunity to invest whatever additional funds may be received from
the exercise of warrants in purchasing additional vintages of investment grade
wines. We do not anticipate any capital commitments for product research and
development or significant purchases of plant or equipment, or any change in
the number of employees.

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

<PAGE>


                     PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

     None.

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

     (a)  None.

     (b)  None.

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

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

     None.

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

     None.

ITEM 5.  OTHER INFORMATION

     None.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     None

<PAGE>

                              SIGNATURES

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


                              FIRST GROWTH INVESTORS, INC.



Date:  November 13, 2000                by:   /s/ Pam Jowett

                                   Pam Jowett, President & Director