U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                 ---------------

                                   FORM 10-QSB
                                   (Mark One)

[X]  Quarterly report pursuant section 13 or 15(d) of the Securities Exchange
     Act of 1934 For the quarterly period ended December 31, 2000

[ ]  Transition report pursuant section 13 or 15(d) of the Securities Exchange
     Act of 1934 For the transition period
     from.................to..................
     Commission file number 000-27545


                         ABOVE AVERAGE INVESTMENTS, LTD.
--------------------------------------------------------------------------------
              (Exact name of small business issuer in its charter)


             Nevada                                    98-0204736
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    (State or other jurisdiction of                   (IRS Employer
    Incorporation or organization)                    Identification No.)



   Suite 104, 1456 St. Paul Street, Kelowna, British Columbia, Canada V1Y 2E6
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                    (Address of principal executive offices)


                                 (250) 868-8177
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                           (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 X No

Number of shares outstanding of the issuer's classes of common equity, as of
December 31, 2000:

                   500,000 Shares of Common Stock (One Class)

Transitional Small Business Disclosure Format: Yes ___ No X
                                                         ---

         This document consists of 15 pages, excluding exhibits. The Exhibit
Index is on page 14.

<PAGE>

                         ABOVE AVERAGE INVESTMENTS, LTD.


Item 1.  Financial Statements................................................3

Item 2.  Management's Discussion and Analysis................................9

Item 6.  Exhibits and Reports on Form 8-K...................................14

Signatures..................................................................15



                                       2

<PAGE>
                         ABOVE AVERAGE INVESTMENTS, LTD.

                                TABLE OF CONTENTS


Condensed Financial Statements:

Condensed Balance Sheet (unaudited) as of December 31, 2000...................4

Condensed Statements of Operations (unaudited) for the three months
ended December 31, 2000 and 1999, six months ended December 31, 2000
and 1999 and from April 21, 1997 (inception) through December 31, 2000........5

Condensed Statements of Cash Flows (unaudited) for the six months
ended December 31, 2000 and 1999 and from April 21, 1997 (inception)
through December 31, 2000.....................................................6

Notes to Condensed Financial Statements.......................................7


                                  3
<PAGE>

ABOVE AVERAGE INVESTMENTS, LTD.
(A Development Stage Company)
CONDENSED BALANCE SHEET
(UNAUDITED)
--------------------------------------------------------------------------------

                                     ASSETS
                                     ------
                                                                    December 31,
                                                                        2000
                                                                    ------------

      Total Assets..................................................$        -
                                                                    ============


                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------

      Accrued liabilities...........................................$     6,753
                                                                    -----------
      Stockholders' deficit:
        Common stock, $0.0001 par value, 100,000,000 shares
           authorized, 500,000 shares issued and outstanding........         50
        Additional paid-in capital..................................     34,691
        Deficit accumulated during the development stage............    (41,494)
                                                                    -----------
                       Total stockholders' deficit                       (6,753)
                                                                    -----------

                       Total liabilities and stockholders' deficit  $         -
                                                                    ===========



       See accompanying notes to condensed financial statements
                                  4
<PAGE>
<TABLE>
ABOVE AVERAGE INVESTMENTS, LTD.
(A Development Stage Company)
CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)
<CAPTION>


                                                                                                      April 21, 1997
                                               Three Months Ended           Six Months Ended        (inception) through
                                                  December 31,                December 31,             December 31,
                                               2000          1999           2000          1999             2000
                                             -----------------------   ---------------------------   ---------------
Costs and expenses
<S>                                          <C>            <C>                 <C>     <C>               <C>
    Legal fees...............................$   (6,003)  $   (3,718)    $  (10,075)    $   (4,386)       $  (18,704)
    Accounting fees..........................    (4,105)        (483)        (5,605)        (2,106)           (9,461)
    Printing.................................         -         (936)        (6,804)        (2,161)          (12,758)
    Licenses and fees........................       (95)           -            (95)           (85)             (521)
    Stock-based compensation for
         organizational costs ...............         -            -              -              -               (50)
                                             ----------   ----------     ----------     ----------        ----------
    Loss from operations                        (10,203)      (5,137)       (22,579)        (8,738)          (41,494)
                                             ----------   ----------     ----------     ----------        ----------

Benefit (provision) for income taxes                  -            -              -              -                 -
                                             ----------   ----------     ----------     ----------        ----------

Net profit (loss)                            $  (10,203)  $   (5,137)    $  (22,579)    $    8,738)       $  (41,494)
                                             ==========   ==========     ==========     ==========        ==========

Net loss per share- basic and diluted        $    (0.02)  $    (0.01)    $    (0.02)    $    (0.01)       $    (0.09)
                                             ==========   ==========     ==========     ==========        ==========
Weighted average number of shares -
  basic and diluted                             500,000      500,000        500,000        500,000           500,000
                                             ==========   ==========     ==========     ==========        ==========

</TABLE>

            See accompanying notes to condensed financial statements
                                       5
<PAGE>
<TABLE>
ABOVE AVERAGE INVESTMENTS, LTD.
(A Development Stage Company)
CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)

---------------------------------------------------------------------------------------------------
<CAPTION>
                                                                                        April 21, 1997
                                                            Six Months Ended           (inception) through
                                                               December 31,               December 31,
                                                           2000         1999                 2000
                                                       ----------     ----------          ----------
<S>                                                    <C>            <C>                 <C>
Net cash provided by operating activities:
  Net loss                                             $ (22,579)     $   (8,738)         $  (41,494)
  Non-cash transactions:
    Stock-based compensation for
      organizational costs                                      -              -                  50
  Changes in operating assets and liabilities:
    Accounts payable and accrued liabilities                2,958          3,914               6,753
                                                       ----------     ----------          ----------
Net cash used in operating activities                     (19,621)        (4,824)            (34,691)
                                                       ----------     ----------          ----------
Cash flows from financing activities:
  Third party expenses paid by affiliate on
  behalf of the Company, recorded as
  additional paid-in capital                               19,621          4,824              34,691
                                                       ----------     ----------          ----------
Net cash used in financing activities..................    19,621          4,824              34,691
                                                       ----------     ----------          ----------

Net increase in cash and equivalents...................         -              -                   -

Cash at beginning of period............................         -              -                   -
                                                       ----------     ----------          ----------

Cash at end of period..................................$        -     $        -          $        -
                                                       ==========     ==========          ==========

Supplemental disclosure of cash flow information:
  Cash paid during the period for:
      Interest.........................................$        -     $        -          $        -
                                                       ==========     ==========          ==========
      Income taxes.....................................$        -     $        -          $        -
                                                       ==========     ==========          ==========

Non-cash financing transactions:
      500,000 shares common stock
         issued for services...........................$        -     $        -          $       50
                                                       ==========     ==========          ==========
</TABLE>


                      See accompanying notes to condensed financial statements
                                                 6
<PAGE>
ABOVE AVERAGE INVESTMENTS, LTD.
(A Development Stage Company)
NOTES TO CONDENSED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------

NOTE 1 - BASIS OF PRESENTATION

The accompanying unaudited condensed financial statements of Above Average
Investments, Ltd. (the "Company") have been prepared in accordance with the
accounting policies in its audited financial statement for the year ended June
30, 2000 as filed in its form SB-2/A filed July 31, 2000 and should be read in
conjunction with the notes thereto. The Company entered the development stage in
accordance with Statements of Financial Accounting Standard ("SFAS") No. 7 on
April 21, 1997 and is a "blank check" company with the purpose to evaluate,
structure and complete a merger with, or acquisition of, a privately owned
corporation.

In the opinion of management, all adjustments consisting of normal recurring
adjustments considered necessary to provide a fair presentation of the operating
results for the interim periods presented have been made. These results have
been determined on the basis of generally accepted accounting principles and
practices applied consistently with those used in the preparation of the
Company's Annual Financial Statements for the for the year ended June 30, 2000.
Operating results for the three months ended September 30, 2000 are not
necessarily indicative of the results that may be expected for the year ending
June 30, 2001.

Interim financial data presented herein are unaudited.


NOTE 2 - RELATED PARTY TRANSACTIONS

The Company has issued an officer 500,000 shares of common stock in exchange for
services related to management and organization costs of $50. The officer will
provide administrative and marketing services as needed. The officer may, from
time to time, advance to the Company any additional funds that the Company needs
for costs in connection with searching for of completing an acquisition or
merger.

The Company does not maintain a checking account and all expenses incurred by
the Company are paid by an affiliate. For the three months ended September 30,
2000, the Company incurred $12,376 in expenses. The affiliate does not expect to
be repaid for the expenses it pays on behalf of the Company. Accordingly, as the
expenses are paid, they are classified as additional paid-in capital.

NOTE 3 -SHARE CAPITAL

In December 2000, the Company completed an initial public offering of 625,000
common shares at $0.20 per share for cash proceeds of $125,000. The proceeds of
the offering and the common stock issued pursuant thereto are being held in an
escrow account, and shall remain in the escrow account until an acquisition
meeting specific criteria is completed, and before the deposited funds and
deposited securities can be released to the Company and the investors,
respectively, the Company is required to update its registration statement with
post-effective amendment, and within five business days after the effective date
thereof, the Company is required to furnish the investors with the prospectus
produced thereby containing the terms of a reconfirmation offer and information
regarding the proposed acquisition candidate and its business. Investors must
have no fewer than 20 and no more than 45 business days from the effective date
of the post-effective amendment to decide to reconfirm their investment and
remain an investor or, alternatively, require the return of their investment.
Each investor shall have 20 business days from the date of this prospectus to
reconfirm their investment. Any investor not making any decision within the
20-business-day period will automatically have their investment returned.

If the Company does not complete an acquisition meeting the specified criteria
within 18 months of the effective date of its initial public offering, all of
the deposited funds in the escrow account must be returned to investors.


                                  7
<PAGE>
ABOVE AVERAGE INVESTMENTS, LTD.
(A Development Stage Company)
NOTES TO CONDENSED FINANCIAL STATEMENTS

--------------------------------------------------------------------------------


NOTE 4 - SUBSEQUENT EVENTS

Subsequent to December 31, 2000, the Company entered into an agreement with
Quick-Med Technologies, Inc., a Delaware corporation, and its shareholders to
acquire all of the issued and outstanding shares of capital stock of Quick-Med
Technologies, Inc. in exchange for 2,500,000 shares of the Company's common
stock. For accounting purposes, the acquisition will be treated as an
acquisition of the Company by Quick-Med Technologies, Inc. and recapitalization
(a reverse merger).


                                  8
<PAGE>
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

Above Average Investments, Ltd.

     We were organized as a Nevada corporation on April 21, 1997 for
the purpose of creating a corporate vehicle to seek, investigate and,
if the investigation warrants, acquire an interest in business
opportunities presented to us by persons or firms who or which desire
to employ our funding in their business or to seek the perceived
advantages of a publicly-held corporation. In December 2000, we
completed an initial public offering for 2,500,000 shares of our
common stock for $.05 per share under a Registration Statement that
became effective with the Securities and Exchange Commission on
September 19, 2000. In December 2000, we executed a merger agreement
with Quick-Med Technologies, Inc., a Delaware corporation, to acquire
all of Quick-Med Technologies, Inc.'s issued and outstanding shares in
exchange for 10,000,000 shares of our common stock. Quick-Med
Technologies, Inc.'s primary business is the research and development
of biomedical products for antibacterial applications.

Negotiations between us and Quick-Med

     In November 2000, we commenced negotiations to acquire Quick-Med.
Quick-Med indicated that it was interested in seeking the perceived
advantages of a publicly-held corporation and requested information
from us. In turn, we requested and received background information on
Quick-Med including certain financial information. Once such
information was exchanged, the parties began to negotiate the
structure of the transaction. We indicated that we were interested in
acquiring all of the outstanding capital stock of Quick-Med. Quick-Med
indicated that this structure would be acceptable provided that
Quick-Med's current shareholders received enough shares of common
stock to represent at least 80% of our outstanding shares of common
stock. In December 2000, we executed the agreement with Quick-Med to
acquire 100% of Quick-Med's stock in exchange for 10,000,000 shares of
our common stock.

The Offering  and Reconfirmation

     2,500,000 shares of common stock were offered for $.05 per share
on a "best efforts, all or none" basis. We conducted the offering
directly, without the use of an underwriter, and the offering was
completed in December 2000. This prospectus is being furnished to
investors in the offering so they may consider reconfirming their
investment as a result of our proposed acquisition.

Securities Outstanding

     There are presently 3,000,000 shares of common stock outstanding
from an authorized issuance of 100,000,000 shares of common stock. If
the acquisition is completed, 12,500,000 shares of common stock will
be outstanding.


                                  9
<PAGE>

Escrow

     After this post-effective amendment is declared effective, we
will start the reconfirmation offering. Upon reconfirmation, we will
notify the escrow agent to release the proceeds and the securities to
us. We will distribute the certificates. Investors will receive a
supplement to the prospectus indicating the amount of proceeds and
securities released and the date of release.

Reconfirmation Offering Conducted in Compliance with Rule 419

     We are a blank check company and, consequently, this
reconfirmation offering is being conducted in compliance with Rule
419. The investors have certain rights and will receive the
substantive protection provided by the rule. To that end, the
securities purchased by investors and the funds received in our
initial public offering are deposited and held in an escrow account
established under Rule 419, and will remain in the escrow account
until an acquisition meeting specific criteria is completed. Before
the acquisition can be completed and before the deposited funds and
deposited securities can be released to us and the investors,
respectively, we are required to update the registration statement
with a post-effective amendment, and within five business days after
the effective date, we are required to furnish the investors with the
prospectus containing the terms of a reconfirmation offer and
information about the proposed acquisition candidate and its business,
including audited financial statements. According to Rule 419,
investors must have no fewer than 20 and no more than 45 business days
from the effective date of the post-effective amendment to decide to
reconfirm their investment and remain an investor or, alternately,
require the return of their investment. Each investor has 20 business
days from the date of this prospectus to reconfirm his/her investment.
Any investor who does not decide within the 20 business day period
will automatically have his/her investment returned.

     The rule further provides that if we do not complete an
acquisition meeting the specified criteria within 18 months of the
effective date of the initial public offering, all of the deposited
funds in the escrow account must be returned to investors.

Terms of the Reorganization Agreement

     The terms of the merger are stated in the Reorganization
Agreement dated December 18, 2000. We will consummate the merger when,
among other things, we receive acceptance of the reconfirmation offer
by at least 80% of the investors. If the merger is consummated,
Quick-Med will be merged into Above Average, with Above Average as the
surviving entity. We will change our name to Quick-Med Technologies,
Inc. When we consummate the merger:

     (i) each shareholder who holds shares of our common stock
     registered under a registration statement declared effective by
     the SEC on September 19, 2000 prior to the merger and who accepts
     the reconfirmation offer will continue to hold his or her share
     certificate(s) representing our registered common stock; and

                                  10
<PAGE>

     (ii) each stockholder of registered common stock who rejects the
     reconfirmation offer will be paid his or her pro rata share of
     the amount in the escrow account of $.05 per share. At the
     effective date of the merger, Quick-Med's outstanding shares will
     be canceled. We will issue 10,000,000 shares of our common stock
     to Quick-Med's shareholders at the effective date, and our
     current shareholders will own 2,500,000 shares, representing 20%
     of the surviving entity.

Recent Developments

     Our board believes that the merger represents a good investment
opportunity for our shareholders and recommends that the investors
elect to accept the reconfirmation offering. The merger agreement was
approved by the directors and shareholders of Quick-Med by written
consent dated December 31, 2000. The merger agreement was confirmed by
the unanimous consent of the directors on December 31, 2000.

Accounting Treatment

     Although we are the legal surviving corporation, for accounting
purposes, the merger is treated as a purchase business acquisition of
Above Average by Quick-Med in a reverse acquisition, and a
recapitalization of Quick-Med. Quick-Med is the acquirer for
accounting purposes because the former Quick-Med stockholders received
the larger portion of the common stockholder interests and voting
rights retained by the our former stockholders. Because Quick-Med is
the acquirer for accounting purposes under APB Opinion No. 16, the
surviving entity will adopt Quick-Med's fiscal year end, December 31.

Use of Proceeds

     In our initial public offering, we raised $125,000 in proceeds.
None of the deposited funds have been or will be expended to merge
Quick-Med into us. The deposited funds will be transferred to us under
the merger agreement if a business combination is effected.

Quick-Med Technologies, Inc.

     Quick-Med was incorporated in Delaware in December 1997. Its
business primarily consists of research and development of biomedical
products and devices for antibacterial applications. Quick-Med's
vision is to rapidly deliver break-through products in targeted fast
growing civilian and military health care markets where it can
leverage `leap-ahead' core technologies. Quick-Med intends to fund the
research efforts necessary to develop the planned products, administer
the patenting process, subcontract the manufacture of its products
and, in many cases, enter joint ventures with other companies to move
products to the marketplace. Quick-Med itself does not intend to
manufacture and distribute final products.

     Quick-Med will focus its attention on the value-added activities
of developing and commercializing new core technologies. Scientific
experts in relevant fields are identified and retained through
consulting contracts. Senior management is identified to ensure broad
experience in all aspects of the business. Operating costs have been
kept low because the Quick-Med compensates management and the
scientific team almost entirely in equity, and not in cash


                                  11
<PAGE>

salaries, benefits and offices. Most activities are conducted in
university, military or other business locations of the management
team. Internal communication is frequent and highly effective through
the electronic means that underpin the growing trend toward
telecommuting. As a result of its success with this model, Quick-Med
has required only one full time employee, its president and chief
operating officer.

Business Model

     Quick-Med develops core technologies with multiple applications
in targeted areas showing wide gaps between available science and
application. To accelerate research and development Quick-Med retains
leading researchers who can prototype, test and help to rapidly
commercialize attractive products. Quick-Med implements with vertical
solutions for end-product research and development, patent licensing
and finance. It executes with a preeminent and experienced management
team that has access in its target markets.

     Quick-Med intends to increase its speed to market by strategic
partnerships with leading academic and business organizations. As an
emerging bio-tech company, Quick-Med must leverage its strengths and
not risk the capital expense of trying to build infrastructure for
expertise that can be obtained by effectively outsourcing or through
joint ventures. It intends to selectively employ partnerships and
joint ventures to accelerate research and development. Quick-Med
expects to develop the technology to a late stage of prototyping and
market acceptance. It seeks to choose partners that reduce risk and
accelerate growth in manufacturing or distribution. Quick-Med believes
that there can be significant benefits to strategic partnerships with
larger corporations. Quick-Med intends to have the technology and a
culture that fosters innovation, motivation, and flexibility. Larger
corporations can have capital, manufacturing resources, access to
markets, and strong consumer brands. Quick-Med seeks to gain the
capacity and channels to deliver its technology and the larger
companies will add new products to their lines, assuring successful
relationships.

     The benefits of Quick-Med's business model are:

     An innovative and rapidly responding corporate super-structure

     Rapid and more efficient access to emerging technology

     Shorter timelines and reduced operating costs

     Maximum capital efficiency and profitability

Management Team

     Quick-Med's management team is composed of accomplished bankers,
attorneys, retired military generals and business professionals, all
with 15 to 35 years of experience in their respective fields, and have
attained senior levels in their corporate, scientific or military
careers. Quick-Med believes its team understands all facets of the
mission and seeks to execute rapidly, accurately, and cost effectively
to achieve its objectives.


                                  12
<PAGE>

Scientific Team

     Quick-Med's scientific team consists of leading academic and
private sector researchers in the targeted research and development
segments. The team has extensive experience in the areas of wound
healing, cosmetic skin treatments, biochemistry, physical and surface
chemistry and material science. Individually and in groups they have
been awarded numerous patents for inventions in their respective
fields. The team has also extensive experience in managing research
and development processes for both the military and major private
sector companies.

     Assuming this reconfirmation offering and acquisition is
completed, Quick-Med's business will be our sole business.

                                LEGAL PROCEEDINGS

     There is no litigation pending or threatened by or against us.



                                  13
<PAGE>
                    ABOVE AVERAGE INVESTMENTS, LTD.

                      PART II - OTHER INFORMATION


         3.1*         Articles of Incorporation
         3.2*         Amendment to Articles of Incorporation
         3.3*         Bylaws
         4.1*         Specimen Informational Statement
         4.1.1*       Form of Lock-up Agreement Executed by the
                      Company's Shareholders
         10.1.1**     Merger Agreement
         10.1.2**     Escrow Agreement

*Filed as an Exhibit to the Company's Registration Statement on Form 10-SB,
dated October 1999, and incorporated by reference.

**Incorporated by reference to the Company's Form SB-2, filed July 14,
2000 (File No. 333-41672).

Reports on Form 8-K

     None


                                  14
<PAGE>
                         ABOVE AVERAGE INVESTMENTS, LTD.

                                   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.

                                       ABOVE AVERAGE INVESTMENTS, LTD.


Date: February 14, 2001                By: /s/ Devinder Randhawa
                                          -----------------------------
                                          Devinder Randhawa, President


                                       By: /s/ Bob Hemmerling
                                          -----------------------------
                                          Bob Hemmerling, Secretary