U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                Quarterly Report Under Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

                For the Quarterly Period Ended December 31, 2000.
                          Commission File No: 000-26377

                             OXIR INVESTMENTS, INC.
   --------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

                                   California
   --------------------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)

                                   88-0397134
   --------------------------------------------------------------------------
                        (IRS Employer Identification No.)

                      3980 Howard Hughes Parkway, Suite 340
                             Las Vegas, Nevada 89109
 -------------------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (702) 369-4260
                         -------------------------------
                            Issuer's telephone number

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 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
    ---     ---

The number of shares of the  registrant's  only class of common stock issued and
outstanding, as of February 15, 2001, was 23,519,000.


<PAGE>


                             OXIR INVESTMENTS, INC.
                                AND SUBSIDIARIES
                          (a development stage company)

                                      INDEX

Part I.  FINANCIAL INFORMATION

Item 1.  Financial Statements                                        Page Number

         Consolidated balance sheets as of December 31, 2000 (unaudited)
         and June 30, 2000                                                2

         Consolidated  statements of operations for the six-month
         periods ended December 31, 2000 and 1999 and for the period
         from inception through December 31, 2000 (unaudited)             3

         Consolidated statements of operations for the three-month
         periods ended December 31, 2000 and 1999 (unaudited)             4

         Consolidated statements of stockholders' equity for the period
         May 19, 1998 (inception) through December 31, 2000 (unaudited)   5

         Consolidated  statements of cash flows for the six-month
         periods ended December 31, 2000 and 1999 and for the period
         from inception through December 31, 2000 (unaudited)             6

         Notes to consolidated financial statements (unaudited)         7 - 9


Item 2.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations                                     10 - 11

Part II. OTHER INFORMATION

Item 1.  Legal Proceedings                                                12

Item 2.  Changes in Securities                                            12

Item 3.  Defaults Upon Senior Securities                                  12

Item 4.  Submimssion of Matters to a Vote of Security Holders             12

Item 5.  Other Information                                                12

Item 6.  Exhibits and Reports on Form 8-K                                 12

Signatures                                                                13




<PAGE>

                                     PART I

ITEM 1.  FINANCIAL STATEMENTS

<TABLE>
                             OXIR INVESTMENTS, INC.
                                AND SUBSIDIARIES
                          (a development stage company)

                           CONSOLIDATED BALANCE SHEETS

                                     ASSETS

<CAPTION>
                                                          December 31,   June 30,
                                                             2000          2000
                                                          -----------   ----------
                                                          (Unaudited)
<S>                                                       <C>           <C>
Current assets:
   Cash and cash equivalents                              $    40,382   $   64,705
   Investment in trading securities                             4,207       56,928
   Prepaid expenses                                             4,724        4,724
                                                          -----------   ----------
               Total current assets                            49,313      126,357
                                                          -----------   ----------

Property and equipment                                      3,373,095    5,251,382
                                                          -----------   ----------

Other assets:
   Income tax receivable                                       75,000       75,000
   Note receivable related party                            1,517,236            -
   Related party receivable                                         -        4,026
   Deposits                                                    15,000       15,000
                                                          -----------   ----------
               Total other assets                           1,607,236       94,026
                                                          -----------   ----------

               Total assets                               $ 5,029,644   $5,471,765
                                                          ===========   ==========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
   Accounts payable                                       $   319,789   $   78,564
   Accrued expenses                                            39,327            -
   Margin account                                                   -       56,558
   Client funds payable                                        11,034       11,034
   Current portion of mortgage payable                          1,435        1,432
                                                          -----------   ----------
               Total current liabilities                      371,585      147,588

Mortgage payable, net of current portion                      204,738      204,741
                                                          -----------   ----------

               Total liabilities                              576,323      352,329
                                                          -----------   ----------

Stockholders' equity:
   Common stock, no par value
      50,000,000 shares authorized
      23,219,000 shares issued and
      outstanding at December 31, 2000
      21,189,000 shares issued and
      outstanding at June 30, 2000                          6,297,190    4,519,220
   Deferred stock-based consulting costs                   (1,776,250)           -
   Retained earnings (accumulated deficit)                    (67,619)     600,216
                                                          -----------   ----------
               Total stockholders' equity                   4,453,321    5,119,436
                                                          -----------   ----------

               Total liabilities and stockholders' equity $ 5,029,644   $5,471,765
                                                          ===========   ==========

                        See notes to financial statements
</TABLE>

                                        2


<PAGE>

<TABLE>

                             OXIR INVESTMENTS, INC.
                                AND SUBSIDIARIES
                          (a development stage company)

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<CAPTION>
                                                       Six-month periods ended        May 19, 1998
                                                             December 31,              (inception)
                                                      --------------------------        through
                                                          2000            1999     December 31, 2000
                                                      -----------    -----------   -----------------
<S>                                                   <C>            <C>           <C>
Sales                                                 $   229,679    $         -   $         248,491

Cost of goods sold                                          9,234              -              28,741
                                                      -----------    -----------   -----------------

Gross margin                                              220,445              -             219,750
                                                      -----------    -----------   -----------------

Costs and expenses:
   Depreciation                                            87,883        141,528             332,225
   Rent                                                   115,862         28,067             407,657
   General and administrative                             681,351      2,274,920           3,642,009
                                                      -----------    -----------   -----------------

                                                          885,096      2,444,515           4,381,891
                                                      -----------    -----------   -----------------

Operating loss                                           (664,651)    (2,444,515)         (4,162,141)
                                                      -----------    -----------   -----------------

Other income (expense):
   Interest expense                                       (12,755)       (65,336)           (193,418)
   Realized gain on sale of marketable securities           4,850        825,939           2,535,212
   Net unrealized gain on marketable securities                 -      2,164,323           1,754,278
   Other income                                             4,721              -               4,849
                                                      -----------    -----------   -----------------

                                                           (3,184)     2,924,926           4,100,921
                                                      -----------    -----------   -----------------

Income (loss) before income taxes                        (667,835)       480,411             (61,220)

Income (tax) benefit                                            -        318,991              (6,399)
                                                      -----------    -----------   -----------------

Net income (loss)                                     $  (667,835)   $   799,402   $         (67,619)
                                                      ===========    ===========   =================


Basic income (loss) per share                         $     (0.03)   $      0.04
                                                      ===========    ===========

Weighted average shares outstanding                     21,394,489    21,128,074
                                                      ============   ===========


                        See notes to financial statements
</TABLE>

                                        3


<PAGE>



                             OXIR INVESTMENTS, INC.
                                AND SUBSIDIARIES
                          (a development stage company)

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

                                          Three-month periods ended
                                                  December 31,
                                         ---------------------------
                                            2000             1999
                                         ----------       ----------

Sales                                    $   78,914       $        -

Cost of goods sold                                -                -
                                         ----------       ----------

Gross margin                                 78,914                -
                                         ----------       ----------

Costs and expenses:
   Depreciation                              43,941          104,175
   Rent                                      61,285            8,254
   Selling and administrative               258,441          294,240
                                         ----------       ----------

                                            363,667          406,669
                                         ----------       ----------

Operating loss                             (284,753)        (406,669)
                                         ----------       ----------

Other income (expense):
   Interest expense                          (4,742)         (29,698)
   Gain on sale of securities                     -          160,068
   Unrealized gain on securities                  -        1,607,034
   Other income (expense)                       (43)               -
                                         ----------       ----------

                                             (4,785)       1,737,404
                                         ----------       ----------

Income (loss) before income taxes          (289,538)       1,330,735

Income (tax) benefit                              -                -
                                         ----------       ----------

Net income (loss)                        $ (289,538)      $1,330,735
                                         ==========       ==========


Basic income (loss) per share               $ (0.01)          $ 0.06
                                         ==========       ==========

Weighted average shares outstanding      21,599,978       21,170,000
                                         ==========       ==========


                        See notes to financial statements

                                        4


<PAGE>

<TABLE>

                             OXIR INVESTMENTS, INC.
                                AND SUBSIDIARIES
                          (a development stage company)

                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
        For the period May 19, 1998 (inception) through December 31, 2000


<CAPTION>
                                                                                   Deferred
                                                             Common stock        stock-based
                                                       ------------------------   consulting     Retained
                                                         Shares        Amount        costs       earnings
                                                       ----------    ----------   -----------   -----------
<S>                                                    <C>           <C>          <C>           <C>
Balance at inception                                            -    $        -   $         -   $         -

Net income from inception on May 19, 1998
   through June 30, 1998                                        -             -             -             -
                                                       ----------    ----------   -----------   -----------

Balance, June 30, 1998                                          -             -             -             -

Shares issued to founders at predecessor
  cost of $0.00 per share                              13,770,000             -             -             -

Shares issued for trading securities
  at $0.70 per share                                    1,350,000       939,764             -             -

Common stock issued for cash at $1.00 per share           600,000       600,000             -             -

Stock issuance costs                                            -      (250,000)            -             -

Common stock issued for cash at $5.00 per share           100,600       503,000             -             -

Common stock issued for related party acquisitions,
   recorded at predecessor cost                         5,270,000       706,005             -             -

Net income for the year ended June 30, 1999                     -             -             -     1,836,979
                                                       ----------    ----------   -----------   -----------

Balance at June 30, 1999                               21,090,600     2,498,769             -     1,836,979

Common stock issued for cash at $5.00 per share            60,000       300,000             -             -

Common stock issued for cash at $5.00 per share            31,600       158,000             -             -

Common stock retired at $5.00 per share                    (1,200)       (6,000)            -             -

Common stock issued for cash at $5.00 per share             8,000        40,000             -             -

Contributed capital by subsidiary                               -     1,528,451             -             -

Net loss for the year ended June 30, 2000                       -             -             -    (1,236,763)
                                                       ----------    ----------   -----------   -----------

Balance, June 30, 2000                                 21,189,000     4,519,220             -       600,216

Common stock issued as consulting fee at
   $0.875 per share (unaudited)                         2,030,000     1,776,250    (1,776,250)            -

Contributed capital (unaudited)                                 -         1,720             -             -

Net loss for the six-months ended
  December 31, 2000 (unaudited)                                 -             -             -      (667,835)
                                                       ----------   -----------   -----------   -----------

Balance, December 31, 2000 (unaudited)                 23,219,000   $ 6,297,190   $(1,776,250)  $   (67,619)
                                                       ==========   ===========   ===========   ===========

                        See notes to financial statements
</TABLE>

                                        5


<PAGE>

<TABLE>

                             OXIR INVESTMENTS, INC.
                                AND SUBSIDIARIES
                          (a development stage company)

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<CAPTION>
                                                                 Six-month periods ended     May 19, 1998
                                                                      December 31,           (inception)
                                                                 -----------------------       through
                                                                   2000          1999      December 31, 2000
                                                                 ---------    ----------   -----------------
<S>                                                              <C>          <C>          <C>
Net income (loss)                                                $(667,835)   $  799,402   $         (67,619)
   Adjustments to reconcile net income (loss) to net cash
      provided by (used in) operating activities:
         Depreciation expense                                       87,883       141,528             332,225
         Common stock issued for services                                -       300,000             300,000
         Changes in assets and liabilities:
            (Increase) decrease in prepaid expenses                      -             9              (4,724)
            (Increase) decrease in trading securities               52,721             -              52,721
            (Increase) decrease in related party receivables         4,026             -                   -
            (Increase) decrease in deposits                              -             -             (15,000)
            Increase (decrease) in accounts payable                241,225       (25,467)            353,112
            Increase (decrease) in accrued liabilities             (15,511)      252,992             (15,511)
            Increase (decrease) in clients fund                          -             -             254,032
            Increase (decrease) in provision for income taxes            -      (318,991)            (75,000)
                                                                 ---------   -----------    ----------------

            Net cash provided by (used in) operating activities   (297,491)    1,149,473           1,114,236
                                                                 ---------   -----------    ----------------

Cash flows from investing activities:

   Investment in bank                                                    -      (300,000)                  -
   Decrease (increase) in trading securities                             -      (265,278)          2,637,554
   Increase (decrease) in margin account                                 -      (167,137)           (651,581)
   Purchase of property and equipment                                    -      (578,348)         (2,286,371)
                                                                 ---------   -----------     ---------------

            Net cash used in investing activities                        -    (1,310,763)           (300,398)
                                                                 ---------   -----------     ---------------

Cash flows from financing activities:

   Proceeds from notes payable                                           -              -            208,000
   Principal payments on notes payable                                   -           (720)            (1,827)
   Proceeds from note receivable                                   273,168              -            273,168
   Stock issuance costs                                                  -              -           (250,000)
   Common stock issued for cash                                          -        158,000          1,301,000
   Retirement of common stock                                            -              -             (6,000)
   Advances to related parties                                           -              -         (2,337,867)
   Cash from subsidiaries                                                -               -            40,070
                                                                 ---------           ---     ---------------

            Net cash provided by (used in) financing activities    273,168        157,280           (773,456)
                                                                 ---------       --------    ---------------

            Net increase (decrease) in cash and cash equivalents   (24,323)        (4,010)            40,382

               Cash and cash equivalents at beginning of period     64,705         52,627                  -
                                                                 ---------        -------    ---------------

               Cash and cash equivalents at end of period        $  40,382       $ 48,617    $        40,382
                                                                 =========       ========    ===============

</TABLE>


                        See notes to financial statements

                                        6


<PAGE>


                             OXIR INVESTMENTS, INC.
                                AND SUBSIDIARIES
                          (a development stage company)

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

                       December 31, 2000 and June 30, 2000

1.       Unaudited consolidated financial statements

         The accompanying  consolidated  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  consolidated  financial  position,  result of
         operations  and cash flows at  December  31,  2000 and 1999 and for all
         periods presented have been made.

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

                  Use of estimates

         The  preparation of financial  statements in conformity  with generally
         accepted  accounting  principles  requires management to make estimates
         and  assumptions  that  affect  the  reported  amounts  of  assets  and
         liabilities and disclosure of contingent  assets and liabilities at the
         date of the financial  statements and the reported  amounts of revenues
         and expenses during the period.  Actual results could differ from those
         estimates.

                  History and business activity

         Oxir Investments,  Inc., a California corporation,  was incorporated on
         November 2, 1923 as Monte Regio  Corporation with the stated purpose to
         engage  in  the  business  of  real  estate  development.  The  Company
         continued  in  that  endeavor  for  several  years  then   discontinued
         operations. On March 1, 1972, the Company changed its name to Precision
         Resources,  Inc. The Company remained dormant with no business activity
         until  September  1998.  The Company  changed its name to Oxenuk,  Inc.
         after reinstating  business  operations on November 11, 1998, and again
         changed it name to Oxir Investments, Inc. on November 25, 1998.

                                        7


<PAGE>



1.       Unaudited consolidated financial statements (continued)

                  History and business activity (continued)

         In  1998,  Oxenuk,  Inc.  initiated  negotiations  to merge  with  Oxir
         Investments,  Inc., a  private California  company  incorporated on May
         19,  1998 ("Oxir"). The merger was consummated on November 25, 1998, at
         which  time Oxenuk, Inc., the surviving  corporation,  adopted the name
         of  Oxir  Investments,  Inc.  Under the terms of the  merger,  Oxir was
         dissolved.

         Oxir was  originally  founded for the  purpose of  pursuing  investment
         opportunities in real estate,  technology and industrial  businesses in
         the United States and  internationally,  particularly in Russia, and to
         introduce eastern European opportunities to the United States.

         During 1999,  the Company filed a  registration  statement  with the US
         Securities  and  Exchange  commission  on Form 10-SB,  registering  its
         common stock under the  Securities and Exchange Act of 1934, as amended
         (the "34 Act").  The  Company's  intention  at that time was to seek to
         acquire  assets or shares of an entity  actively  engaged in  business,
         which  generated  revenues  or  provided  a  business  opportunity,  in
         exchange for its securities.  In effect, this filing caused the Company
         to be a full "reporting company" under the 34 Act.

                  Principles of consolidation

         The  consolidated  financial  statements  include  the accounts of Oxir
         Investments,  Inc.  ("Oxir") and its  wholly-owned  subsidiaries,  Oxir
         Financial  Services,  Ltd.,  Oxir  Investment,   Ltd.,  Oxir   Internet
         Solutions,  Inc.,  Oxir  Consulting,  Inc.  and  Oxir  Insurance,  Inc.
         Significant   intercompany   accounts  and    transactions   have  been
         eliminated.

                  Development stage

         The Company has been a development stage company since its inception on
         May 19, 1998.

2.       Going concern

         The  Company's  financial   statements  are  prepared  using  generally
         accepted  accounting  principles  applicable  to a going  concern which
         contemplates  the  realization of assets and liquidation of liabilities
         in the normal course of business.  The Company has not yet  established
         an ongoing source of revenues  sufficient to cover its operating  costs
         and allow it to continue as a going concern. The ability of the Company
         to continue as a going concern is dependent on the Company's ability to
         establish an ongoing source of revenues or obtain  adequate  capital to
         fund operating  losses until it becomes  profitable.  If the Company is
         unable to  establish an ongoing  source of revenues or obtain  adequate
         capital, it could be forced to cease operations.

                                        8


<PAGE>


2.       Going concern (continued)

         In order to continue as a going concern,  develop a reliable  source of
         revenues,  and achieve a profitable  level of  operations,  the Company
         will  need,   among  other  things,   additional   capital   resources.
         Management's  plans to  continue  as a going  concern  include  raising
         additional capital through sales of common stock, the proceeds of which
         would be used to  continue  to  develop  its  existing  projects  which
         include a real estate, financial and computer systems activities. Other
         plans may include the raising of  additional  capital and the continued
         development of its current and planned  operations.  Private placements
         and other  sources are being  considered.  However,  management  cannot
         provide  any  assurances   that  the  Company  will  be  successful  in
         accomplishing any of its plans.

         The ability of the Company to continue as a going  concern is dependent
         upon its ability to successfully  accomplish the plans described in the
         preceding  paragraph and  eventually  secure other sources of financing
         and attain profitable operations. The accompanying financial statements
         do not include any  adjustments  that might be necessary if the Company
         is unable to continue as a going concern.

3.       Related party transaction

         During the  six-month  period  ended  December  31,  2000,  Oxir sold a
         Condominium it owned in Moscow, Russia to the Company's President.  The
         agreed-upon purchase price was $1,790,465. Such purchase price is equal
         to the cost basis of the Condominium unit and tenant improvements.  The
         purchase price is to be paid over a period,  not to exceed 15 years. No
         regular  payments are required.  The amount and timing of such payments
         may be made at the President's  discretion,  without interest.  Payment
         may be made in the  form of cash  or  shares  of the  Company's  common
         stock.  Payments made in stock are to be valued at the closing price of
         the  Company's  common  shares  on the date of the  payment.  Since the
         Condominium  was  sold  at  cost,  there  was no  gain  or  loss on the
         transaction.  The President made payments on the note totaling $273,228
         during the six-month period ended December 31, 2000.

4.       Stockholders' equity

         During  December 2000,  the Company  entered into  agreements  with two
         entities, which will provide consulting and financial advisory services
         to Oxir. Both agreements are for a one-year period.  Consideration  for
         the  agreements  consisted of a total of 2,030,000  shares,  which were
         issued in December  2000.  The  transaction  was recorded  based on the
         market  value of the  Company's  stock  on the date of the  agreements,
         which was $0.875 per share.  The cost of $1,776,250 is being recognized
         over the one-year term of the  agreements  commencing  January 1, 2001.
         There was no cost recognized during the six-month period ended December
         31, 2000.

                                        9


<PAGE>


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

The  following  discussion  should  be read in  conjunction  with the  Company's
unaudited financial  statements and notes thereto included herein. In connection
with, and because it desires to take advantage of, the "safe harbor"  provisions
of the Private  Securities  Litigation  Reform Act of 1995, the Company cautions
readers regarding certain forward looking statements in the following discussion
and  elsewhere  in this  report  and in any other  statement  made by, or on the
behalf of the Company,  whether or not in future filings with the Securities and
Exchange  Commission.  Forward  looking  statements  are statements not based on
historical  information  and  which  relate to  future  operations,  strategies,
financial  results  or  other  developments.   Forward  looking  statements  are
necessarily based upon estimates and assumptions that are inherently  subject to
significant business,  economic and competitive uncertainties and contingencies,
many of which are beyond the Company's  control and many of which,  with respect
to future business  decisions,  are subject to change.  These  uncertainties and
contingencies can affect actual results and could cause actual results to differ
materially from those expressed in any forward looking statements made by, or on
behalf of, the Company.  The Company  disclaims any obligation to update forward
looking statements.

As used in this Form  10-QSB,  "we",  "us" and "our" refer to Oxir  Investments,
Inc. and its consolidated subsidiaries, depending on the context.

We are continuing to pursue strategic  alternatives to maximize the value of our
portfolio of businesses.  Some of these  alternatives  have  included,  and will
continue  to include  selective  acquisitions,  establishing  new  projects  and
launching new subsidiaries.

Results of Operations

For the six months ended  December  31,  2000,  compared to the six months ended
December 31, 1999.

We recognized  $229,679 in sales during the six-month  period ended December 31,
2000,  compared to no sales during the  comparable  period in 1999.  We realized
gains on marketable  securities  of $4,850 during the six months ended  December
2000,  compared  to  realized  and  unrealized  gains of  $2,990,262  during the
comparable period in 1999.

During the six months  ended  December  31,  2000,  we had  interest  expense of
$12,755,  compared  to $65,336 for the  comparable  1999  period,  a decrease of
$52,581 (80%),  which reflects  interest paid on our margin  accounts.  Costs of
sales for the six-month  period ended  December 31, 2000 was $9,234.  We did not
incur  any  cost of  sales  for the  comparable  period  in  1999.  General  and
administrative  expenses decreased to $681,351 for the six months ended December
2000,  from  $2,274,920  for the same period in 1999,  a decrease of  $1,593,569
(70%). Rent expense increased to $115,862 from $28,067 for the same period.  The
drastic  decrease in G&A expenses is attributed to large costs  incurred  during
the six-month  period ended December 31, 1999 in launching of our new operations
and new  subsidiaries  in Russia.  Our  depreciation  expense for the  six-month
period  ended  December  31,  2000 was  $87,883  compared  to  $141,528  for the
comparable period in 1999.

We realized an income tax benefit of $318,991 during the six-month  period ended
December  31,  1999.  There was no such benefit  realized  during the  six-month
period ended December 31, 2000.

                                       10
<PAGE>

As a  result,  we  incurred  a net loss  applicable  to common  stockholders  of
$667,835 or $0.03 per share,  for the six-month  period ended December 31, 2000,
compared to net income of $799,402,  or $.04 per share, for the six-month period
ended  December  31,  1999,  a  change  of  $1,467,237  (183%).  The  change  is
principally  due to recognition of investment  gains and tax benefits during the
six-month period ended December 31, 1999. Such gains and benefits were partially
offset  by  sales  recognized   during  2000  and  a  decrease  in  general  and
administrative expenses.

Liquidity and Capital Resources

Total cash and cash  equivalents  at December  31, 2000 was $40,382  compared to
$64,705  at  June  30,  2000.  Also at  December  31,  2000,  we had  $4,207  in
investments in trading securities compared to $56,928 at June 30, 2000.

Net cash used in operating activities for the period ended December 31, 2000 was
$297,491,  compared to $1,149,473  provided by operating  activities in the same
period in 1999.  The change was due to the fact that we  sustained  an operating
loss in 2000, as opposed to income in 1999.

Net cash used in investing activities for 2000 was $0 compared to $1,310,763 for
the  comparable  1999 period.  This is attributed  primarily to  investments  in
marketable securities, property and equipment during 1999.

Net cash  provided by financing  activities  was  $273,168 for 2000  compared to
$157,280  provided in 1999. In 2000,  the cash provided by financing  activities
was  attributable  to proceeds from a note  receivable.  In 1999,  the principal
proceeds were from the sale of our common stock.

At December 31, 2000, we had total assets of $5,029,644 and stockholders' equity
of  $4,453,321.  In  comparison,  at June  30,  2000,  we had  total  assets  of
$5,471,765 and total stockholders' equity of $5,119,436. Working capital deficit
was $322,272 at December 31,  2000,  compared to a negative  $21,231 at June 30,
2000.

We  anticipate  meeting our working  capital needs during the next twelve months
primarily  with revenues from our  operating  and  investing  activities  or, if
necessary from the sale of our securities.  If the Company's  operations are not
adequate to fund its  operations  and it is unable to secure  financing from the
sale of its securities or from private  lenders,  the Company could experience a
cash flow shortage, which could curtail the Company's operations.

Our  management  has  recognized  that,  in order to  allow  us to  continue  to
implement our business strategy discussed in our Form 10-SB, as well as our Form
10-KSB for our fiscal year ended June 30, 2000,  as filed with the US Securities
and Exchange Commission,  it will be necessary for us to raise additional equity
capital.  Relevant thereto, in February 2001, we commenced a  self-underwritten,
"best efforts" private offering of up to 3,333,334 shares of our common stock at
an offering  price of $.60 per share,  for total  gross  proceeds of $2 million.
Because  marketing of this offering  commenced  within the prior few days of the
filing of this Report,  we have not accepted any  subscriptions  thus far. There
can be no assurances that we will receive any subscriptions from this offering.

In the opinion of  management,  inflation  has not had a material  effect on the
operations of the Company.

                                       11
<PAGE>

                           PART II. OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

     There are  presently no material  pending  legal  proceedings  to which the
     Company  or any of its  subsidiaries  is a  party  or to  which  any of its
     property is subject  and,  to the best of its  knowledge,  no such  actions
     against the Company are contemplated or threatened.

ITEM 2.  CHANGES IN SECURITIES

     In December 2000, we issued  1,030,000 shares of our common stock to Global
     Capital  Securities  Corp.  as  part  of  our  obligation  pursuant  to  an
     investment banking agreement.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES - NONE

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS- NONE

ITEM 5.  OTHER INFORMATION -

     Effective December 22, 2000, we accepted the resignation of Michael Smirnov
     as an officer and director of our Company.  Mr. Smirnov  continues to serve
     our  company as an employee  responsible  for our  Russian  operations.  In
     addition,  on December  18,  2000,  we  terminated  Kirill  Mendelson as an
     employee and accepted his resignation as an officer and director.

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

     (a)  Exhibits 27.1 - Financial Data Schedule

     (b)  Reports on Form 8-K - NONE
















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<PAGE>




                                   SIGNATURES

Pursuant to the requirements of Section 12 of the Securities and Exchange Act of
1934,  the  Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

                                       OXIR INVESTMENTS, INC.
                                       (Registrant)

                                       Dated:  February 20, 2001


                                       By:   s/Inna Batrakova
                                          ---------------------------
                                          Inna Batrakova, Secretary

                                       13


<PAGE>


                             OXIR INVESTMENTS, INC.
                                AND SUBSIDIARIES
                          (a development stage company)

                EXHIBIT INDEX TO QUARTERLY REPORT ON FORM 10-QSB
                     FOR THE QUARTER ENDED DECEMBER 31, 2000

EXHIBITS                                                               Page No.

  EX-27           Financial Data Schedule.....................................15




































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