SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  ____________________  FORM
10-Q ____________________  [X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934  For the quarterly period ended March 31,
2009  [  ] TRANSITION
REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE ACT  For the transition period from
____________ to____________  Commission File No. 000-52036   GULF & ORIENT STEAMSHIP COMPANY, LTD. (Exact name of Registrant as specified in
its charter)  Colorado
84-1344320(State or Other Jurisdiction of
(I.R.S. Employer Identification No.)incorporation or organization)  601 South State Street Salt Lake City, Utah  84101 (Address of Principal Executive Offices)  (801) 550-5800 (Registrants telephone number, including
area code)  N/A (Former name, former address and former
fiscal year, if changed since last report)  Indicate by check mark whether the
Registrant has (1) filed all reports required to be filed by Section 13 or 15(d)
of the Securities Exchange Act of 1934 (the Exchange Act) during the preceding
12 months (or for such shorter period that the Registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days. Yes [X] No [  ]  Indicate by check mark whether the
Registrant is a large accelerated filer, an accelerated filer, a non-accelerated
filer, or a smaller reporting company.  See definition of large
accelerated filer, accelerated filer and smaller reporting company in Rule
12b-2 of the Exchange Act.  (Check one):  Large accelerated filer [  ]
     Accelerated filer [  ]
      Non-accelerated filer [  ]
     Smaller reporting company [X]  Indicate by check mark whether the
Registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act). Yes [ X] No [  ]    APPLICABLE ONLY TO ISSUERS INVOLVED IN
BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE
YEARS  Indicate by check mark whether the registrant has filed
all documents and reports required to be filed by Sections 12, 13 or 15(d) of
the Securities Exchange Act of 1934 subsequent to the distribution of securities
under a plan confirmed by a court.  Not applicable.  APPLICABLE ONLY TO CORPORATE ISSUERS  Indicate the number of shares outstanding of each of the
Registrants classes of common stock, as of the latest practicable date:
 May 12, 2009 - 1,719,093 shares of common stock.    PART I   Item 1.  Financial Statements  The Financial Statements of the Registrant
required to be filed with this 10-Q Quarterly Report were prepared by management
and commence below, together with related notes. In the opinion of management,
the Financial Statements fairly present the financial condition of the
Registrant.   GULF & ORIENT STEAMSHIP COMPANY, LTD.  UNAUDITED FINANCIAL STATEMENTS  For the Three Months Ended March
31, 2009 and 2008, and the Period of May 9, 1996 (Inception) to
March 31, 2009    GULF &
ORIENT STEAMSHIP COMPANY, LTD. (A Development Stage Company)     CONTENTS    PAGE  BALANCE SHEETS (UNAUDITED) F-1  STATEMENTS OF OPERATIONS (UNDAUDITED) F-2  STATEMENTS OF CASH FLOWS (UNAUDITED) F-3  NOTES TO UNAUDITED FINANCIAL STATEMENTS F-4      GULF &
ORIENT STEAMSHIP COMPANY, LTD. (A Development Stage Company)    BALANCE
SHEETS   March 31,

December 31,2009

2008ASSETS

(Unaudited)CURRENT ASSETSCash
$
94
$
7TOTAL CURRENT
ASSETS

94

7TOTAL ASSETS
$
94
$
7LIABILITIES AND STOCKHOLDERS DEFICITCURRENT LIABILITIESAccounts payable
$
70,028
$
65,622Notes and advances payable - related
parties (Note 4)

58,933

56,248TOTAL CURRENT
LIABILITIES

128,961

121,870TOTAL
LIABILITIES

128,961

121,870STOCKHOLDERS DEFICITPreferred stock no par value, non-voting,5,000,000 shares authorized; 0 shares
issuedand outstanding

-

-Common stock no par value, 50,000,000Shares authorized; 1,719,093 shares
issuedand outstanding

11,781

11,781Deficit accumulated during development stage

(140,648)

(133,644)TOTAL STOCKHOLDERS
DEFICIT

(128,867)

(121,863)TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT
$
94
$
7                   See Notes to Financial
Statements.  F-1


STATEMENTS OF
OPERATIONS (Unaudited)   Period ofMay 9, 1996For the Three

(Date ofMonths Ended

Inception) toMarch 31,

March 31,2009

2008

2009Revenues
$
-
$
-
$
-Expenses:General and administrative
expenses

6,439

5,136

125,799Interest expense

565

358

9,879Total Expenses

7,004

5,494

135,678LOSS BEFORE TAXES

(7,004)

(5,494)

(135,678)PROVISION FOR INCOME
TAXES

-

-

-NET LOSS
$
(7,004)
$
(5,494)
$
(135,678)LOSS PER COMMON SHAREBasic and diluted net (loss) per weightedaverage common share outstanding
$
(0.00)
$
(0.00)Weighted average number of commonshares outstanding

1,719,093

1,719,093                        See
Notes to Financial Statements.        STATEMENTS OF CASH FLOWS (Unaudited)  Period ofMay 9, 1009For the Three

(Date ofMonths Ended

inception) toMarch 31,

March 31,2009

2008

2009OPERATING ACTIVITIESNet loss
$
(7,004)
$
(5,494)
$
(135,678)Adjustments to reconcile net loss
to netcash used in
operating activities:Issuance of common stock for payment of
expenses

-

-

500Changes in operating liabilities:Increase in accounts payable

4,406

2,584

70,028Increase
in accrued interest, notes payable - related parties

565

359

9,879NET CASH USED IN OPERATING
ACTIVITIES

(2,033)

(2,551)

(55,271)FINANCING ACTIVITIESProceeds from notes payable - related
parties

2,120

-

56,554Issuance of common stock for
cash

-

-

3,811Purchase of treasury stock

-

-

(5,000)NET CASH PROVIDED BY FINANCING
ACTIVITIES

2,120

-

55,365NET INCREASE (DECREASE) IN
CASH

87

(2,551)

94CASH AT BEGINNING OF
PERIOD

7

84

-CASH AT END OF PERIOD
$
94
$
(2,467)
$
94SUPPLEMENTAL CASH FLOW DISCLOSURES:Cash paid for:Interest
$
-
$
-
$
-Income taxes
$
-
$
-
$
-SCHEDULE OF NON-CASH INVESTING AND FINANCING
ACTIVITIES:Issuance
of 107,143 shares of common stock for debt settlement
$
-
$
-
$
7,500           See Notes to Financial
Statements.         NOTES TO UNAUDITED
FINANCIAL STATEMENTS March 31, 2009 and
2008   NOTE 1: SUMMARY OF
HISTORY AND SIGNIFICANT ACCOUNTING POLICIES  Nature of Operations The Company was incorporated in the
State of Colorado on May 9, 1996.  The Company originally intended to
engage in the business of marine transportation.  These plans did not
materialize, and the Company is currently considering alternative business
opportunities.  Development Stage
Company The financial statements present
the Company as a development stage company in accordance with SFAS No. 7,
Accounting and Reporting by Development Stage Enterprises, because of its
short operating history and minimal operations.  Income Taxes The Company utilizes the liability
method of accounting for income taxes as set forth in SFAS No. 109,
Accounting for Income Taxes.  Under the liability method, deferred
taxes are determined based on the difference between the financial statement and
tax bases of assets and liabilities using enacted tax rates in effect in the
years in which the differences are expected to reverse.  An allowance
against deferred tax assets is recorded when it is more likely than not that
such tax benefits will not be realized.  Estimates The preparation of financial
statements in conformity with U.S. generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and 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 estimates.  Cash and Cash
Equivalents For purposes of reporting cash
flows, the Company considers all highly-liquid debt instruments purchased with
an original maturity of three months or less to be cash equivalents.  Revenue Recognition The Company plans to recognize
revenue when the following four conditions are present: (1) persuasive evidence
of an agreement exists, (2) the price is fixed or determinable, (3) delivery has
occurred or services are rendered, and (4) collection is reasonably assured.  Income (Loss) Per Common
Share Income (Loss) per common share is
computed by dividing net loss available to common stockholders by the weighted
average number of common shares outstanding during the periods presented.
 The Company has no potentially dilutive securities, such as preferred
stock, options, or warrants, outstanding during the periods presented.
 Accordingly, basic and dilutive loss per common share are the same.  Recently Issued Accounting Pronouncements  The Company has reviewed recently issued, but not yet
adopted, accounting standards in order to determine their effects, if any, on
its results of operation, financial position or cash flows.  Based on that
review, the Company believes that none of these pronouncements will have a
significant effect on its financial statements.  Reclassifications The principal and interest
components of the Notes Payable  Related Parties (Note 4) for the quarter ended
March 31, 2009 and from inception have been reclassified within the Statements
of Cash Flows to conform to current quarter financial statement presentation.
 The net effect of these reclassifications is zero, but management has
determined the current presentation more accurately reflects the substance of
these items in compliance with US GAAP.         NOTES TO UNAUDITED
FINANCIAL STATEMENTS March 31, 2009 and
2008  NOTE 2: INCOME
TAXES  At March 31, 2009, the Company had
a net operating loss carryover of $135,678 which expires as follows:  Period Ended

Amount

Federal Expiration
DateDecember 31, 1996
$
5,636

December 31, 2011December 31, 1997

6,232

December 31, 2012December 31, 1998

3,462

December 31, 2018December 31, 1999

4,055

December 31, 2019December 31, 2000

147

December 31, 2020December 31, 2001

2,896

December 31, 2021December 31, 2002

2,861

December 31, 2022December 31, 2003

8,449

December 31, 2023December 31, 2004

9,385

December 31, 2024December 31, 2005

12,417

December 31, 2025December 31, 2006

31,026

December 31, 2026December 31, 2007

22,394

December 31, 2027December 31, 2008

19,714

December 31, 2028March 31, 2009

7,004

December 31,
2029$
135,678  However, due to the fact that the
Company will most likely enter a new line of business and has had a change in
control, the loss will most likely never be utilized.  At March 31, 2009, the Company had a
deferred tax asset in the amount of $46,130.  The amount has been reserved
100% due to the Companys history of losses.  The increase in the valuation
allowance was $2,381 and $1,868 for the quarters ended March 31, 2009 and 2008,
respectively.  Components of income tax are as
follows:  Quarter
Ended March 31,2009

2008Current
$
-

$
-Federal

-


-State

-


--


-Deferred

-


-$
-

$
-  A reconciliation of the provision
for income tax expense with the expected income tax computed by applying the
federal statutory income tax to income before provision for income taxes is as
follows:  Quarter
Ended March 31,2009

2008Income tax computed atFederal statutory tax rate of
34%
$
(2,381)
$
(1,868)Deferred taxes and
other

2,381

1,868State taxes (net of federal
benefit)

-

-$
-
$
-            NOTES TO UNAUDITED
FINANCIAL STATEMENTS March 31, 2009 and
2008  NOTE 3: COMMITMENTS,
CONTINGENCIES AND LEGAL MATTERS  Management of the Company has
conducted a diligent search and concluded that there were no commitments,
contingencies, or legal matters pending at the balance sheet dates that have not
been disclosed.  NOTE
4: NOTES
PAYABLE - RELATED PARTIES  At March 31, 2009, the Company owed
$58,933 to related parties for money advanced to the Company or expenses paid on
behalf of the Company; $31,734 is non-interest bearing, $2,600 bears annual
interest at 24%, $1,000 bears annual interest at 18%, $10,220 bears annual
interest at 9%, and $3,500 bears annual interest at 7%.  Total principal
and accrued interest at March 31, 2009 was $49,054 and $9,879, respectively,
resulting in total payable balance of $58,933.  During the year ended December 31,
2007, the Company converted two notes into its common stock. One note for $5,000
was due on October 13, 2005 and accrued a total interest of $2,500 on that date.
 This note was converted to common stock at $.07 per share for 71,429
shares.  The $2,500 interest on the note is also convertible to common
stock at $.07 per share which approximated the fair market value of the stock on
the date the loan was made. The interest was not converted into common stock
during the period, and is included in the payable balance at March 31, 2009.  A second note for $2,500 was
converted to common stock during the year ended December 31, 2007 at $.07 per
share for 35,714 shares. Accrued interest on the note was not converted during
the period, and is included in the payable balance at March 31, 2009.  NOTE 5: STOCK
TRANSACTIONS  Shortly after inception in May 1996,
the Company raised $811 from various individuals from the sale of its common
stock.  A Form D was filed with the Securities and Exchange Commission to
report the sales.  $3,000 was also raised from the sale of preferred stock,
which was later cancelled during an ownership change of the Company.
 50,000 shares of common stock were issued in 2003 for services valued at
$500.  The preferred stock has the
following preferences: [a] the stock is non-voting; [b] holders of the stock
have the right to receive a mandatory dividend of 10% of the Companys adjusted
gross profit as reflected on the annual tax return, and the dividend is to be
paid within ten days of the filing of the tax return (to date no dividends have
been required to be paid); [c] upon dissolution or winding up of the Company,
10% of the Companys assets shall be distributed to the holders of the preferred
stock prior to division and distribution of assets to the holders of the
Companys common stock.  In April 2005, the Company purchased
and retired 59,050 shares of its common stock.  The Company paid $5,000 for
the shares, resulting in a $4,970 loss that was recorded as an increase in
accumulated deficit.  In March 2007, the Company converted
two notes totaling $7,500 into 107,143 shares of its common stock (Note 4).  NOTE
6: GOING
CONCERN  The Companys financial statements
have been presented on the basis that it is a going concern, which contemplates
the realization of assets and satisfaction of liabilities in the normal course
of business.  At March 31, 2009, the Company had an accumulated deficit of
$140,648 and a working capital deficit of $128,867.  The Companys continued existence is
dependent on its ability to generate sufficient cash flow to cover operating
expenses and to invest in future operations.  Management is actively
pursuing possibly business opportunities.  The Company will look to related
parties to fund continuing operations until a suitable business opportunity is
identified.         Item 2. Managements Discussions and
Analysis of Financial Condition and Results of Operations.  Forward-looking Statements  Statements made in this Quarterly Report which are not
purely historical are forward-looking statements with respect to the goals, plan
objectives, intentions, expectations, financial condition, results of
operations, future performance and our business, including, without limitation,
(i) our ability to raise capital, and (ii) statements preceded by, followed by
or that include the words may, would, could, should, expects,
projects, anticipates, believes, estimates, plans, intends,
targets or similar expressions.  Forward-looking statements involve inherent risks and
uncertainties, and important factors (many of which are beyond our control) that
could cause actual results to differ materially from those set forth in the
forward-looking statements, including the following, general economic or
industry conditions, nationally and/or in the communities in which we may
conduct business, changes in the interest rate environment, legislation or
regulatory requirements, conditions of the securities markets, our ability to
raise capital, changes in accounting principles, policies or guidelines,
financial or political instability, acts of war or terrorism, other economic,
competitive, governmental, regulatory and technical factors affecting our
current or potential business and related matters.  Accordingly, results actually achieved may differ
materially from expected results in these statements.  Forward-looking
statements speak only as of the date they are made.  We do not undertake,
and specifically disclaim, any obligation to update any forward-looking
statements to reflect events or circumstances occurring after the date of such
statements.  Plan of Operations  Our plan of operation for the next 12 months is to: (i)
consider guidelines of industries in which we may have an interest; (ii) adopt a
business plan regarding engaging in the business of any selected industry; and
(iii) to commence such operations through funding and/or the acquisition of a
going concern engaged in any industry selected.  During the next 12 months, our only foreseeable cash
requirements will relate to maintaining our good standing; the payment of our
Securities and Exchange Commission and Exchange Act reporting filing expenses,
including associated legal and accounting fees; costs incident to reviewing or
investigating any potential business venture; and maintaining our good standing
as a corporation in our state of organization.  We anticipate that these
funds will be provided to us in the form of loans from Michael Vardakis, our
current President.  There are no written agreements requiring Mr. Vardakis
to provide these cash resources; and to the extent funds are provided, such
funds will bear interest and will be due on demand.  As of the date of this
Quarterly Report, we have not actively begun to seek any business or acquisition
candidate.  Results of Operations  We have generated no profit since
inception.  We had a net loss of ($7,004) and ($5,494) for the quarters
ended March 31, 2009, and 2008.  Since our inception on May 9, 1996,
cumulative losses as of March 31, 2009, total ($135,678).  Primarily all of
these losses are the result of legal and accounting expenses.  Liquidity  We have cash of $94 as of March 31, 2009.  During the next 12 months, our only
foreseeable cash requirements will relate to the payment of our Securities and
Exchange Commission and Exchange Act reporting filing expenses, including
associated legal and accounting fees; costs incident to reviewing or
investigating any potential business venture; and maintaining our good standing
as a corporation in our state of organization.  We do not have any cash
reserves to pay for our administrative expenses for the next 12 months.  In
the event that additional funding is required in order to keep us in good
standing, we may attempt to raise such funding through loans or through
additional sales of our common stock.           Item 3.  Quantitative and
Qualitative Disclosures About Market Risk.  Not required.  Item 4T.  Controls and Procedures.  Evaluation of disclosure controls and procedures  Our management, with the participation of our chief
executive officer and chief financial officer, evaluated the effectiveness of
our disclosure controls and procedures as defined in Rule 13a-15(e) under the
Exchange Act as of the end of the period covered by this Quarterly Report on
Form 10-Q.  In designing and evaluating the disclosure controls and
procedures, our management recognized that any controls and procedures, no
matter how well designed and operated, can provide only reasonable assurance of
achieving the desired control objectives.  In addition, the design of
disclosure controls and procedures must reflect the fact that there are resource
constraints and that management is required to apply its judgment in evaluating
the benefits of possible controls and procedures relative to their costs.
 The design of any disclosure controls and procedures also is based in part
upon certain assumptions about the likelihood of future events and there can be
no assurance that any design will succeed in achieving its stated goals under
all potential future conditions.  Based on that evaluation, our chief executive officer and
chief financial officer concluded that, as of March 31, 2009, our disclosure
controls and procedures were, subject to the limitations noted above, effective
to provide reasonable assurance that information we are required to disclose in
reports that we file or submit under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in Securities and
Exchange Commission rules, regulations and forms, and that such information is
accumulated and communicated to our management, including our chief executive
officer and chief financial officer, as appropriate, to allow timely decisions
regarding required disclosure.  Changes in internal control over financial reporting  Our management, with the participation of
the chief executive officer and chief financial officer, has concluded there
were no significant changes in our internal controls over financial reporting
that occurred during our last fiscal quarter that has materially affected, or is
reasonably likely to materially affect, our internal control over financial
reporting.  PART II - OTHER INFORMATION   Item 1. Legal Proceedings.  None; not applicable.  Item 1A.  Risk
Factors.  Not required.   Item 2. Unregistered Sales of Equity Securities and
Use of Proceeds.  None; not applicable.   Item 3. Defaults Upon Senior Securities.  None; not applicable.   Item 4. Submission of Matters to a Vote of Security
Holders.  None; not applicable.          Item 5. Other Information.   None; not applicable.  Item 6. Exhibits.   Exhibit No.                       Identification
of Exhibit  31.1

31.2

32
Certification Pursuant to Section 302
of the Sarbanes-Oxley Act provided by Michael Vardakis,
President and Director.
Certification Pursuant to Section 302 of the
Sarbanes-Oxley Act provided by Melissa Ladakis, Secretary,
Treasurer and Director
Certification Pursuant to 18 U.S.C.
Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-
Oxley Act of 2002 provided by Michael
Vardakis, President and Melissa Ladakis,  Secretary/Treasurer,
and Director.      SIGNATURES  Pursuant to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly authorized  Gulf & Orient Steamship
Company, Ltd.  Date:
May 12, 2009

By:
/s/Michael VardakisMichael Vardakis, President  and Director   Date:
May 12, 2009

By:
/s/Melissa LadakisMelissa Ladakis ,Secretary,  Treasurer and
Director