SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB


(Mark One)
   [X]   Quarterly report under Section 13 or 15(d) of the Securities Exchange
         Act of 1934 for the quarterly period ended March 31, 2002.

   [  ]  Transition report under Section 13 or 15(d) of the Securities Exchange
         Act of 1934 for the transition period from              to            .


         Commission file number: 0-29383
                                 -------


                         WICHITA DEVELOPMENT CORPORATION
                         -------------------------------
        (Exact name of small business issuer as specified in its charter)




              Nevada                                     88-0356200
              ------                                     ----------
 (State or other jurisdiction of                      (I.R.S. Employer
  incorporation or organization)                     Identification No.)




            268 West 400 South, Suite 300, Salt Lake City, Utah 84101
            ---------------------------------------------------------
               (Address of principal executive office) (Zip Code)


                                 (801) 575-8073
                           (Issuer's telephone number)



Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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  XX     No
                                     ----        ----

The number of outstanding shares of the issuer's common stock,  $0.001 par value
(the only class of voting stock), as of May 14, 2002 was 104,321,646.


<PAGE>



                                TABLE OF CONTENTS

                                     PART I

ITEM 1.  FINANCIAL STATEMENTS..................................................3

Unaudited Balance Sheet as of March 31, 2002...................................4

Unaudited Statement of Operations for the three months ended March 31, 2002 and
2001...........................................................................6

Unaudited Statement of Cash Flows for the three months ended March 31, 2002 and
2001...........................................................................7

Notes to Condensed Financial Statements........................................8


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS ................................11


                                     PART II

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.....................................13

SIGNATURES....................................................................14

INDEX TO EXHIBITS.............................................................15












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                                     PART I

ITEM 1.           FINANCIAL STATEMENTS

As used herein, the term "Company" refers to Wichita Development Corporation,  a
Nevada  corporation,  and its  subsidiaries  and  predecessors  unless otherwise
indicated.  Consolidated,  unaudited,  condensed  interim  financial  statements
including  a balance  sheet for the  Company as of the  quarter  ended March 31,
2002, and statements of operations, and statements of cash flows for the interim
period up to the date of such  balance  sheet and the  comparable  period of the
preceding  year are  attached  hereto as Pages 4 through 9 and are  incorporated
herein by this reference.




























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                                        3

<PAGE>



                         WICHITA DEVELOPMENT CORPORATION
                      Consolidated Unaudited Balance Sheet
                                 March 31, 2002



                                                            March 31, 2002
                                                            -------------
ASSETS

   Current Assets
      Cash                                                  $     158,139
      Prepaid expenses                                              3,703
      Accounts receivable                                           4,282
      Notes receivable                                             85,000
      Notes receivable - related parties                           50,824
      Marketable securities - trading                              51,751
                                                            -------------
          Total Current Assets                                    353,699

   Fixed Assets
      Property and equipment, net                               1,119,484
      Land                                                        200,000
                                                            -------------
          Total Fixed Assets                                    1,319,484

   Other Assets
      Related party notes receivable                               65,382
      Marketable securities - available for sale                  220,325
      Other assets                                                 49,082
                                                            -------------
          Total Other Assets                                      334,789

TOTAL ASSETS                                                $   2,007,972
                                                            =============



                 See accompanying notes to financial statements


                                        4

<PAGE>



                         WICHITA DEVELOPMENT CORPORATION
                      Consolidated Unaudited Balance Sheet
                                   (continued)
                                 March 31, 2002

<TABLE>
<S>                                                                                    <C>

                                                                                        March 31, 2002
                                                                                        ------------
LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES
   Current Liabilities
      Accounts payable                                                                  $      8,609
      Payable to related parties                                                             156,506
      Income taxes payable                                                                    40,628
      Unearned rent                                                                           22,462
      Current portion of Long-Term debt                                                      620,053
                                                                                        ------------
          Total Current Liabilities                                                          848,258

   Long Term Liabilities                                                                     890,177
       Less: Current portion                                                               (620,053)
                                                                                        ------------
   Total Long Term Liabilities                                                               270,124

TOTAL LIABILITIES                                                                          1,118,382

STOCKHOLDERS' EQUITY
      Preferred stock - 5,000,000 shares authorized at $0.001 par, none issued
     and outstanding - Common stock - 200,000,000 shares authorized at $0.001
     par; 104,322
           104,321,646 shares issued and outstanding
      Paid in capital                                                                        661,572
      Treasury stock - 100,210 shares @ $.013/ share                                         (1,277)
      Unrealized gain (loss) on securities                                                 (197,312)
      Retained earnings                                                                      322,285
TOTAL STOCKHOLDERS' EQUITY                                                                   889,590
                                                                                        ------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                              $  2,007,972
                                                                                        ============
</TABLE>

                 See accompanying notes to financial statements

                                        5

<PAGE>




                         WICHITA DEVELOPMENT CORPORATION
                      Consolidated Statements of Operations
               for the three months ended March 31, 2002 and 2001

<TABLE>
<CAPTION>

                                                                   Three months    Three months
                                                                     ended            ended
                                                                  March 31, 2002  March 31, 2001
                                                                  -------------- --------------
<S>                                                              <C>            <C>

Rental revenues                                                   $       99,148 $      108,460

General and administrative expenses                                       94,570         97,928
                                                                  -------------- --------------
          Net income from rental operations                                4,578         10,532

Other income (expense)
   Interest income                                                         1,615          6,233
   Interest expense                                                     (29,160)              -
   Gain (loss) on sale of securities                                      (6360)        (3,991)
   Unrealized holding gain (loss) on securities                             3627         18,519
                                                                  -------------- --------------
          Total other income (expense)                                  (30,278)         20,761
                                                                  -------------- --------------
Income (loss) before tax                                                (25,700)         31,293

                                                                  -------------- --------------
Provision (benefit) for income taxes                                      10,793       (14,727)
                                                                  -------------- --------------

Net income (loss)                                                 $     (14,907) $       16,566
                                                                  ============== ==============

Net income (loss) per common share                                $         0.00 $         0.00
                                                                  ============== ==============

Weighted average shares outstanding                                  104,322,000     19,911,089
                                                                  ============== ==============
</TABLE>




                 See accompanying notes to financial statements

                                        6

<PAGE>



                         WICHITA DEVELOPMENT CORPORATION
                      Consolidated Statements of Cash Flows
                           for the three months ended
                             March 31, 2002 and 2001
<TABLE>
<CAPTION>

                                                                       Three months ended March 31,
Cash Flows from Operating Activities:                                      2002         2001
                                                                        ------------ -----------
<S>                                                                    <C>          <C>

Net Income (loss)                                                       $   (14,907) $    16,566
Adjustments to reconcile net income (loss) to net cash provided
by operating activities:
    Depreciation and amortization                                              4,664       3,663
    Closing costs added to loan                                                3,981           -
    Realized loss on sale of securities                                        6,360           -
    Unrealized holding gain on trading securities                            (3,627)           -
    Decrease (increase) in prepaid expenses                                  (3,703)     (3,089)
    Decrease (increase) in accounts receivable                                16,631           -
    Decrease (increase) in securities                                              -   (445,266)
    Increase (decrease) in accounts payable                                    8,609     (7,810)
    Increase (decrease) in accrued liabilities                               (7,145)           -
    Increase (decrease) in unearned rent                                    (11,231)           -
    Increase (decrease) in income tax payable                               (10,793)      14,727
                                                                        ------------ -----------
       Net Cash Provided by/(Used in) Operating  Activities                 (11,161)   (421,209)

Cash Flows from Investing Activities:
    Decrease (increase) in notes receivable                                 (54,801)    (55,000)
    Proceeds from sale of securities                                           7,187           -
                                                                        ------------ -----------
       Net Cash Provided by/(Used in) Investing Activities                  (47,614)    (55,000)

Cash Flows from Financing Activities:
------------------------------------
    Increase in (payment of) long-term debt                                  (3,465)     274,825
    Issued stock for securities                                                    -     104,763
    Purchase of treasury stock                                               (1,277)           -
    Increase in amount due to related party                                   26,700    (99,838)
    Issued stock for debt settlement                                               -     147,591
                                                                        ------------ -----------
       Net Cash Provided by/(Used in) Financing Activities                    21,958     427,341

Net Increase(decrease) in Cash                                              (36,817)    (48,868)

Beginning Cash Balance                                                       194,956     480,483
                                                                        ------------ -----------

Ending Cash Balance                                                     $    158,139 $   431,615
                                                                        ============ ===========

Supplemental Disclosure Information:
  Cash paid during the year for interest                                $     29,159 $     2,514
  Cash paid during the year for income taxes                            $          0 $         0
</TABLE>

                 See accompanying notes to financial statements


                                        7

<PAGE>



                         WICHITA DEVELOPMENT CORPORATION
                     Notes to Unaudited Financial Statements
                                 March 31, 2002

NOTE 1            Summary of Significant Accounting Policies
                  ------------------------------------------

         Nature of Operations

          Wichita  Development  Corporation  was organized under the laws of the
          State of Nevada on  February  15,  1996 as  Cyberbotanical,  Inc.  The
          Company was in development  stage until August 30, 2000, at which time
          it  purchased  a building in  Wichita,  Kansas,  known as the Board of
          Trade  Center.  On October 12, 2000,  the Company  changed its name to
          Wichita  Development  Corporation.  On October 17,  2001,  the Company
          purchased Kearns Development Corporation,  a majority owned subsidiary
          of Axia  Group,  Inc. in exchange  for  issuing  80,000,000  shares of
          common  stock to Axia  Group,  Inc.  As a result  of the  transaction,
          Kearns  became  an  85.6 % owned  subsidiary  of the  Company  and the
          Company has become an 85.5% owned  subsidiary of Axia Group,  Inc. The
          consolidated  financial  statements  include  the  accounts of Wichita
          Development  Corporation  (Wichita),   its  wholly-  owned  subsidiary
          Wichita Properties,  Inc. (WPI), and its 85.6% owned subsidiary Kearns
          Development, Inc. (Kearns) (collectively the Company). All significant
          intercompany  account balances have been eliminated in  consolidation.
          The  Company  is engaged in the  operation  of real  estate to produce
          rental income.

         Net Income Per Common Share

          Net income per common share is based on the weighted average number of
          shares outstanding.

NOTE 2            Comprehensive Income
                  --------------------

          Comprehensive  income was $77,772  and  $16,566  for the three  months
          ended March 31, 2002 and 2001, respectively.

NOTE 3            Basis of Presentation
                  ---------------------

          The accompanying consolidated unaudited condensed finanical statements
          have been prepared by management in accordance  with the  instructions
          in Form 10-QSB and,  therefore,  do not  include all  information  and
          footnotes required by generally accepted accounting  principles in the
          United States and should,  therefore,  be read in conjunction with the
          Company's  Annual Report to Shareholders on form 10-KSB for the fiscal
          year ended December 31, 2001.  These  statements do include all normal
          recurring  adjustments which the Company believes necessary for a fair
          presentation of the statements. The interim operations results are not
          necessarily indicative of the results for the full year ended December
          31, 2002.











                                        8

<PAGE>



ITEM 2.       MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The following  discussion and analysis of our financial condition and results of
operations  should be read in  conjunction  with the  Financial  Statements  and
accompanying notes and the other financial  information filed in the Form 10-KSB
for the period ended December 31, 2001.

General

Our business plan for the next twelve months involves the continued operation of
our office  building in Wichita  Kansas  coupled  with our  ongoing  attempts to
locate and acquire  additional  commercial  office space in the Wichita area and
elsewhere.

Results of Operations

The Company  recorded  $99,148 and $108,460 in rental  revenues for the quarters
ended March 31 2002 and 2001, respectively.  The decrease is attributable to the
loss of a major tenant in the Wichita building.

Income / Losses

Net loss for the  quarter  ended March 31 2002,  was  $14,907  compared to a net
income of $16,566  for the  quarter  ended  March 31,  2001.  The reason for the
change in net  income  is due to the  addition  of  interest  expenses  from the
financing  obtained on the Wichita  building  not present in the  previous  year
coupled with the decrease in revenue noted above.

Expenses

General and  administrative  expenses for the quarter ended March 31, 2002, were
$94,570  compared to $97,928 for the comparable  period in 2001. The decrease in
general  and  administrative   expenses  resulted  from  efforts  to  streamline
operations.  Note that in the current year there are two  buildings,  the Kearns
building  and the Wichita  building,  being  operated  for less than the Wichita
building alone in the previous year.

The Company had $4,664 in depreciation and amortization  expense for the quarter
ended March 31, 2002, and $3,663 for the comparable period in 2001.

Impact of Inflation

The Company  believes  that  inflation  may have a  negligible  effect on future
operations.  The  Company  believes  that it may be able to offset  inflationary
increases  in the cost of sales by  increasing  sales  and  improving  operating
efficiencies.

Liquidity and Capital Resources

The Company's had a net working  capital  deficit of $494,559 on March 31, 2002,
compared to a working  capital  deficit of $497,416 at December  31,  2001.  The
decrease in working capital  deficit was  attributable to the current portion of
long term debt attributable to our subsidiary company's loan with Brighton Bank.
The loan is due to be refinanced,  but until that is completed,  it is reflected
as a current liability.

Cash flow used in operating  activities were $11,161 for the quarter ended March
31, 2002, and $421,209 for the  comparable  period in 2001. The decrease was due
to a lack of changes in securities.


                                        9

<PAGE>



Cash flow used by investing  activities  was $47,614 for the quarter ended March
31, 2002 and $55,000 for the comparable period in 2001.

Cash flow generated from financing  activities was $21,958 for the quarter ended
March 31, 2002, and $427,341 for the comparable period in 2001. The decrease was
due to not incurring  long term debt  financing and a lack of issuances of stock
for debt settlement and securities purchases.

Expected Cash Requirements

On March 31,  2002,  we had $158,139 in cash on hand.  One of our  subsidiaries,
Kearns Development,  has a mortgage note that comes due on May 28, 2002. Efforts
to refinance  the note are  currently  proceeding  with two  separate  financing
entities.  It is anticipated that the note will be refinanced for with a 20 year
amortization and a 10 year balloon payment at prevailing rates.  However,  since
the financing is not yet completed,  the Company is reflecting the entire payoff
amount  as a current  liability  and  there  can be no  guarantee  that the note
refinancing will be completed.  In the event this occurs,  the Company will need
to  liquidate  assets  to  satisfy  the note and may  have to sell  assets  at a
significant  discount  to  obtain  sufficient  liquidity  There  can  also be no
guarantee that operating costs will remain constant  through the end of the year
2002.

In the event we acquire additional rental properties during the coming year, our
cash  requirements to fund operations  could increase.  While we have no present
intention  to raise  equity  capital for  operations  in the next  twelve  month
period, the acquisition of, or opportunity to acquire additional commercial real
estate could create a need to raise additional capital.

Product Research and Development

We do not plan to conduct any significant research or development  activities in
the coming twelve month period.

Expected Purchase or Sale of Plant and Equipment

We have no current  plan for the purchase of any  specific  additional  plant or
equipment.   However,   we  are  investigating  the  feasibility  of  purchasing
additional  commercial real estate. We are using the services of a licensed real
estate broker to suggest  potential  properties for our  consideration.  We have
investigated a number of potential properties and are continuing to consider the
purchase of additional office properties.

Expected Changes in Number of Employees

We currently  have one  part-time  employee,  Edward T. Wells.  The Trade Center
Building is currently managed by a resident property  management company and the
Kearns building is being managed by a subsidiary of Axia Group, Inc., our parent
corporation.  We do not expect to hire any  additional  employees  in the coming
twelve month period.

                                     PART II

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K

(a)      Exhibits Exhibits required to be attached by Item 601 of Regulation S-B
         are listed in the Index to Exhibits on page 10 of this Form 10QSB, and
         are incorporated herein by this reference.

(b)      Reports on Form 8-K.  No reports on Form 8-K were filed during the
         period covered by this Form 10-QSB.

                                       10

<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,  hereunto  duly
authorized, this 15th day of May, 2002.




WICHITA DEVELOPMENT CORPORATION.



 /s/ Edward T. Wells                      Date: May 15, 2002
-----------------------
Edward T. Wells
President and Director






















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<PAGE>


                                INDEX TO EXHIBITS

EXHIBIT           PAGE
NO.               NO.               DESCRIPTION

3(i)              *                 Articles of Incorporation of the Company
                                    (incorporated herein by reference from
                                    Exhibit No. 3(i) of the Company's Form 10-SB
                                    as filed with the Securities and Exchange
                                    Commission on February 8, 2000).

3(ii)             *                 Bylaws of the Company, as amended
                                    (incorporated herein by reference from
                                    Exhibit 3(ii) of the Company's Form 10-SB as
                                    filed with the Securities and Exchange
                                    Commission on February 8, 2000).














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