U. S. Securities and Exchange Commission
                         Washington, D. C.  20549

                               FORM 10-QSB

[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the quarter ended October 31, 2001
                           ----------------

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

     For the transition period from               to
                                    -------------    -------------

                         Commission File No.   000-26753
                                               ---------

                             ASYST CORPORATION
                             -----------------
                (Name of Small Business Issuer in its Charter)


        UTAH                                               87-0416131
        ----                                               ----------
(State or Other Jurisdiction of                   (I.R.S. Employer I.D. No.)
 incorporation or organization)

                          6170 South 380 West, #250
                              Murray, Utah 84107
                              ------------------
                   (Address of Principal Executive Offices)

                  Issuer's Telephone Number:  (801) 263-1661

     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 Company was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

     (1)   Yes  X    No            (2)   Yes  X    No
               ---      ---                  ---      ---


                   (ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                           DURING THE PAST FIVE YEARS)

     Check whether the issuer has filed all documents and reports required to
be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution
of securities under a plan confirmed by a court.  Yes____        No ___

                     (APPLICABLE ONLY TO CORPORATE ISSUERS)

          State the number of shares outstanding of each of the Issuer's
classes of common equity, as of the latest practicable date:

                             December 17, 2001

                          Common - 449,072 shares

                    DOCUMENTS INCORPORATED BY REFERENCE

                                   NONE.

Transitional Small Business Issuer Format   Yes  X   No
                                                ---     ---

                  PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements.

          The Condensed Financial Statements of the Company required
to be filed with this 10-QSB Quarterly Report were prepared by management and
commence on the following page, together with related Notes.  In the opinion
of management, the Condensed Financial Statements fairly present the
financial condition of the Company.

<PAGE>

                           Asyst Corporation
                        Condensed Balance Sheets
                               (Unaudited)

                                 ASSETS
<TABLE>
<CAPTION>

                                               October 31,
                                                   2001
<S>                                            <C>

Current Assets                                  $      0

Total Current Assets                                   0

TOTAL ASSETS                                    $      0

                   LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities

     Accounts payable                           $  9,214

     Bank overdraft balance                          417

     Shareholder loan                             18,882

     Total Current Liabilities                    28,513

Stockholders' Deficit

     Common stock                                    449

     Additional paid in capital                  298,493

     Accumulated deficit                        (353,048)

     Accumulated deficit                          25,593

     Total Stockholders' Deficit                 (28,513)

TOTAL LIABILITIES AND
STOCKHOLDERS' DEFICIT                         $        0
</TABLE>
                           See accompanying notes
<PAGE>
                            Asyst Corporation
                   Condensed Statements of Operations
                               (Unaudited)
<TABLE>
<CAPTION>
                                         For the Three        For the Three
                                         Months Ended         Months Ended
                                        October 31, 2001    October 31, 2000
<S>                                      <C>                  <C>
Revenues                                 $          0         $        0

Operating expense                               2,230                  0

Operating loss                                 (2,230)                 0

Realized gain on disposal
of investments                                      0                  0

Net income (loss)                              (2,230)                 0

Other Comprehensive income(loss)

Unrealized holding loss during period               0                  0

Reclassification adjustment for realized
gain                                                0                  0

Total comprehensive                        $   (2,230)          $      0
 income (loss)

Net Income (loss) per Share                $    (0.01)          $  (0.00)

Weighted Average Number of Shares
Outstanding                                    449,072           449,072
</TABLE>
                             See accompanying notes
<PAGE>
                            Asyst Corporation
                   Condensed Statements of Cash Flows
                               (Unaudited)
<TABLE>
<CAPTION>
                                             For the Three      For the Three
                                             Months Ended      Months Ended
                                           October 31, 2001  October 31, 2000
<S>                                          <C>               <C>


Cash Flows Used for Operating Activities:

 Net Income (Loss)                           $    (2,230)      $           0

 Adjustments to reconcile net loss to
 net cash used for operating activities:

 Gain on disposal of investments                        0                  0

 Increase (decrease) in current                    (4,720)                 0
 liabilities

Net Cash Flows Used
 for Operating Activities                          (6,950)                 0

Cash Flows From Financing Activities:

 Loans from shareholder                             6,950                  0

Net Increase (Decrease) in Cash                         0                  0

Beginning Cash Balance                                  0                  0

Ending Cash Balance                            $        0       $          0



Supplemental disclosure:

 Cash paid for interest                        $        0       $          0

 Cash paid for income taxes                    $        0       $          0
</TABLE>
                          See accompanying notes
<PAGE>
                            Asyst Corporation
                 Notes to Condensed Financial Statements
                          October 31, 2001

PRELIMINARY NOTE

The accompanying condensed consolidated financial statements have been
prepared without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and disclosures
normally included in financial statements prepared in accordance with
generally accepted accounting principles have been condensed or omitted. It is
suggested that these condensed financial statements be read in conjunction
with the financial statements and notes thereto included in the Company's
Annual Report on Form 1O-KSB for the year ended July 31, 2001.
<PAGE>
Item 2.   Management's Discussion and Analysis or Plan of Operation.

Plan of Operation.
------------------

     The Company has not engaged in any material operations during the fiscal
years ended July 31, 2001, 2000 or 1999.

     The Company's plan of operation for the next 12 months is to:(i)
consider guidelines of industries in which the Company may have an interest;
to (ii) adopt a business plan regarding engaging in business in any selected
industry; and to (iii) commence such operations through funding and/or the
acquisition of an operating company engaged in any industry selected.

     The Company's only foreseeable cash requirements during the next 12
months will relate to maintaining the Company in good standing in the State
of Utah. Expenses of the Company will be paid by a principal stockholder,
Michael Vardakis, pursuant to his Agreement to pay expenses, through February
2, 2002; thereafter, the Company may be required to seek loans or advances
from directors or executive officers or principal stockholders of the Company,
or to raise funds through the placement of "restricted securities."
Considering the present financial position of these, none of these
possibilities can presently be determined to be available to the Company when
and if needed.

     The report of our auditors indicates that there is substantial doubt
about our ability to continue as a "going concern."  Accordingly, the future
outlook of the Company, under present circumstances, is bleak.

Results of Operations.
----------------------

          At October 31, 2001, the Company had $0 in assets and $28,513 in
liabilities.  The Company had no revenues for the three months ended October
31, 2001 and 2000, with net losses of ($2,230) and $0, respectively.

Liquidity.
----------

          At October 31, 2001, the Company had no current assets, with total
current liabilities of $28,513.  Total stockholder's deficit was ($28,513).

                   PART II - OTHER INFORMATION

Item 1.   Legal Proceedings.

          None; not applicable.

Item 2.   Changes in Securities.

          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 and Reports on Form 8-K.

          (a)  Exhibits.

               10-KSB Annual Report for the year ended July 31, 2001.*

               10-SB Registration Statement, as amended.*

               *Incorporated by reference.

          (b)  Reports on Form 8-K.

               None.



                            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.

                                         ASYST CORPORATION

Date: 12/17/01                           By/s/Bob Hall
      ---------                             ------------------------
                                            Bob Hall, Director
                                            and President

Date: 12/17/01                           By/s/Mike Vardakis
      ---------                             ------------------------
                                            Mike Vardakis, Director
                                            and Secretary/Treasurer